ALASKA FORECLOSURES INCREASE 27 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Up 3 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – Alaska documented 100 new foreclosure filings in January, a 27 percent increase from the previous month, and a 3 percent increase from January 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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 holds one of the lower numbers of foreclosures nationwide, the numbers have increased both in January and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that the state’s unemployment rate is 2.2 percent higher than the national average. This — in addition to declining home sales throughout the state — is likely contributing to the recent rise.”

 

Alaska ranked 43rd in the country in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 2,052 households ranked 26th among the 50 states.

 

Anchorage County accounts for largest share of state total

Anchorage County led the state in total foreclosures, reporting 46 foreclosure filings. Matanuska Susitna County registered the second highest total, reporting 27 filings for the month. Fairbanks North Star County registered the second highest total, reporting 18 filings in the foreclosure pipeline during the month.

 

Matanuska Susitna County leads state in foreclosure rate

Matanuska Susitna County held the highest foreclosure rate in Alaska for January, with one new foreclosure filing for every 1,012 households — two times the state average. Kenai Peninsula County registered the second highest rate, with one new foreclosure filing for every 1,244 households — 1.7 times the state average. Fairbanks North Star County documented the third highest foreclosure rate, with one new foreclosure filing for every 1,850 households.

 

State makes minor contribution to national total

Alaska accounted for less than 1 percent of the 130,511 foreclosure filings nationwide in January, up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Alaska

0

88

0

0

12

100

2,052

0.43

n/a

 

 

 

 

 

 

 

 

 

 

Anchorage

0

43

0

0

3

46

2,182

0.41

0.94

Fairbanks North Star

0

12

0

0

6

18

1,850

0.48

1.11

Juneau

0

4

0

0

0

4

3,071

0.29

0.67

Kenai Peninsula

0

2

0

0

0

2

1,244

0.71

1.65

Ketchikan Gateway

0

2

0

0

0

2

3,109

0.28

0.66

Kodiak Island

0

1

0

0

0

1

5,159

0.17

0.40

Matanuska Susitna

0

24

0

0

3

27

1,012

0.88

2.03

 

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 construction properties, 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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