Alaska Foreclosures Head Back Down in August

Alaska foreclosure activity fell in August, down to 247 properties with foreclosure filings for the month, a 33 percent decrease from the previous month but still 50 percent ahead of August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“After a hefty increase in July, Alaska foreclosures fell in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in auctions, which were down 37 percent for the month. While unemployment remains below the national average, the state had the largest decline in home sales during the second quarter. Combined, these trends are responsible for keeping the state’s foreclosure numbers hovering around the same level for the past several months.”

 

Alaska ranked 43rd in the country in total foreclosures for the month. With one in every 1,143 housing units receiving a foreclosure filing, its foreclosure rate ranked 34th among the 50 states.

 

Matanuska-Susitna Borough posts state’s top foreclosure rate in August

With one in every 550 housing units receiving a foreclosure filing — 2.1 times the state average — Matanuska-Susitna Borough posted the highest county foreclosure rate in the state for August. Anchorage Municipality had the second highest rate, with one in every 884 housing units receiving a foreclosure filing during the month —1.3 times the state average. Third highest rate was documented in Juneau City and Borough, where one in every 1,071 housing units received a foreclosure filing — 1.1 times the state average.

 

Five boroughs accounted for bulk of state’s foreclosure activity for August

Five boroughs accounted for 98 percent of the Alaska’s foreclosure activity in August. Anchorage Municipality led the way, tallying 126 properties with foreclosure filings for the month. Matanuska-Susitna Borough reported the second highest foreclosure total, documenting 52 properties with foreclosure filings. Reporting 29 properties with foreclosure filings for the month, Fairbanks North Star Borough posted the third highest total in the state. Kenai Peninsula was fourth highest, reporting 22 properties with foreclosure filings, while the fifth highest total was in Juneau City and Borough, where 12 properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s foreclosure activity in August

Alaska accounted for less than one percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Alaska Top Foreclosure Rates by Borough – August 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

Alaska

9

0

167

0

71

247

1,143

0.31

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska-Susitna Borough

0

0

34

0

18

52

550

0.65

2.08

Anchorage Municipality

5

0

89

0

32

126

884

0.40

1.29

Juneau City and Borough

3

0

6

0

3

12

1,071

0.33

1.07

Kenai Peninsula

0

0

14

0

8

22

1,158

0.31

0.99

Fairbanks North Star Borough

1

0

19

0

9

29

1,309

0.27

0.87

 

 

Alaska Top Foreclosure Totals by Borough – August 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

Alaska

9

0

167

0

71

247

1,143

-33.42

49.70

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

5

0

89

0

32

126

884

-27.17

75.00

Matanuska-Susitna Borough

0

0

34

0

18

52

550

-46.39

-10.34

Fairbanks North Star Borough

1

0

19

0

9

29

1,309

-40.82

31.82

Kenai Peninsula

0

0

14

0

8

22

1,158

15.79

266.67

Juneau City and Borough

3

0

6

0

3

12

1,071

-20.00

1,100.00

 

 

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