ALASKA FORECLOSURES DECREASE 41 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 61 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Alaska reported 79 foreclosure filings in June, a 41 percent decrease from the previous month, but still 61 percent above the number reported in June 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Although Alaska foreclosures have decreased in June, the numbers are up from this time last year by more than half,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that the state’s unemployment rate is significantly higher than the national average and that home sales have decline at a faster pace than many other states. These factors are likely contributing to the overall rise in foreclosures.”

 

Alaska ranked among the 10 lowest states in the country in total foreclosure filings for June. The state’s foreclosure rate of one foreclosure filing for every 3,304 households ranked it 37th among the 50 states.

 

Anchorage County leads in foreclosure activity for June

Anchorage County led the state in foreclosure activity for June, reporting 30 foreclosure filings. There was a 3-way tie for second highest total with Fairbanks North Star County, Kenai Peninsula County and Matanuska Susitna County each reporting 12 filings in the foreclosure pipeline for the month.

 

Highest foreclosure rate reported in Kenai Peninsula County

Kenai Peninsula County posted the highest foreclosure rate in the state for June, one foreclosure filing for every 207 households — 15.9 times the state average and 3.4 times the national average. Kodiak Island had the second highest rate, one foreclosure filing for every 645 households — 5.1 times the state average and 1.1 times the national average. Third highest foreclosure rate was reported in Matanuska Susitna County, one foreclosure filing for every 2,277 households — 1.5 times the state average.

 

State makes minor contribution to national total

Total foreclosure filings in Alaska accounted for less than 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                           Alaska Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Alaska

0

62

0

0

17

79

3,304

0.21

n/a

 

 

 

 

 

 

 

 

 

 

Anchorage

0

25

0

0

5

30

3,346

0.21

0.99

Fairbanks North Star

0

12

0

0

0

12

2,774

0.25

1.19

Haines

0

0

0

0

0

0

n/a

0.00

0.00

Juneau

0

2

0

0

0

2

6,141

0.11

0.54

Kenai Peninsula

0

8

0

0

4

12

207

3.40

15.94

Ketchikan Gateway

0

2

0

0

0

2

3,109

0.23

1.06

Kodiak Island

0

4

0

0

4

8

645

1.09

5.12

Matanuska Susitna

0

8

0

0

4

12

2,277

0.31

1.45

Sitka

0

1

0

0

0

1

3,650

0.19

0.91

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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