ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
State’s Activity Level Down 25 Percent From a Year Ago
IRVINE, Calif. – Dec. 11, 2006 – Alaska reported 107 properties entering some stage of the foreclosure process in November, a 9 percent increase from the 98 properties reported in October, but a 25 percent decrease from the 143 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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 foreclosures have increased in November, the numbers are down from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that the housing market has picked up significantly this year after a decline in 2005. If this trend continues, we may see foreclosures drop even lower.”
Alaska ranked 40th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 1,918 households ranked it 25th among the 50 states.
Anchorage County leads state in activity
Anchorage County reported the largest share of Alaska’s foreclosure activity in November, with 66 properties entering some stage of the foreclosure process during the month. Matanuska Susitna County reported the second highest total, with 18 properties entering some stage of the foreclosure. Third highest was Fairbanks North Star County, which reported 10 properties entering foreclosure.
Highest foreclosure rate reported in Kenai Peninsula County
Kenai Peninsula County posted the state’s highest foreclosure rate in November, with one new foreclosure filing for every 355 households — five times the state average and more than two times the national average. Matanuska Susitna County reported the second highest foreclosure rate, with one new foreclosure filing for every 1,518 households — 1.3 times the state average. Anchorage County documented the third highest foreclosure rate, with one new filing for every 1,521 households — 1.3 times the state average.
State makes minor contribution to national total
Alaska accounted for 0.1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 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 – November 2006
1 in every # households
Fairbanks North Star
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 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.
Atomic Public Relations