ALASKA FORECLOSURES INCREASE 54 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 46 Percent From August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Alaska reported 131 foreclosure filings in August, an increase of 54 percent from the previous month and up 46 percent from August 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.

 

Alaska foreclosures are up significantly both in August and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Yet, at a time when we are seeing foreclosures rise sharply throughout the country, the level of foreclosures here is far below most other states.” 

 

Alaska ranked among the 10 lowest states in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 2,093 households ranked it 35th among the 50 states.

 

Anchorage County accounts for largest share of state total

Anchorage County reported the highest county total with 74 foreclosure filings, accounting for 56 percent of the state total for the month. Matanuska Susitna County came in second with 29 foreclosure filings, followed by Fairbanks North Star County with 14 filings in some stage of the foreclosure pipeline.

 

Highest foreclosure rate posted in Matanuska Susitna County

With a rate of one foreclosure filing for every 971 households — 2.2 times the state average — Matanuska Susitna County reported the highest county foreclosure rate in the state for August. Second highest rate was posted in Kodiak Island County with one foreclosure filing for every 1,390 households — 1.5 times the state average. Anchorage County posted the third highest foreclosure rate, one foreclosure filing for every 1,470 households – 1.4 times the state average.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in Alaska accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

                                                                                               

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Alaska

2

109

0

0

20

131

2,093

0.24

n/a

 

 

 

 

 

 

 

 

 

 

Anchorage

1

63

0

0

10

74

1,470

0.35

1.42

Fairbanks North Star

0

12

0

0

2

14

2,432

0.21

0.86

Juneau

0

3

0

0

0

3

4,224

0.12

0.50

Kenai Peninsula

0

5

0

0

0

5

5,046

0.10

0.41

Ketchikan Gateway

0

2

0

0

0

2

3,267

0.16

0.64

Kodiak Island

0

2

0

0

2

4

1,390

0.37

1.51

Matanuska Susitna

1

22

0

0

6

29

971

0.53

2.16

 

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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