Alaska Reports Nearly 400 Properties With Foreclosure Filings in July

 

77 percent increase from June brings total to highest in the last several years.

 

Alaska reported 371 properties with foreclosure filings for the month, a 77 percent increase from the previous month and 79 percent above the level reported in July 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

“Alaska’s foreclosure activity is clearly on the rise, as July’s activity hit a high not seen in several years,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state remains below that of the nation and although foreclosures continue to mount across the state.”

 

Alaska ranked 42nd in the country in total properties with foreclosure filings for May. One in every 761 Alaskan housing units received a foreclosure filing during the month, ranking 24th among the 50 states.

 

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

With one in every 295 housing units receiving a foreclosure filing — 1.2 times the national average and 2.58 times the state average — Matanuska Susitna Borough posted the highest borough foreclosure rate in the state for July. Anchorage Municipality came in second highest, with one in every 644 housing units receiving a foreclosure filing during the month — 1.2 times the state average. Third highest rate was documented in Haines Borough, where one in every 761 housing units received a foreclosure filing — on par with the state average.

 

Anchorage Municipality leads state in foreclosure activity for July

Anchorage Municipality tallied the highest activity level in the state for July, reporting 173 properties with foreclosure filings. Matanuska-Susitna Borough came in second, documenting 97 properties with foreclosure filings. Fairbanks North Star Borough tallied 49 properties with foreclosure filings, the third highest total in the state. Kenai Peninsula Borough was fourth, reporting 19 properties with foreclosure filings, followed by fifth place Juneau Borough, where 15 properties with foreclosure filings were reported for the month.

 

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

Alaska accounted for less than 1 percent of the 360,149 properties with foreclosure filings reported nationwide in July. Total U.S. activity rose almost 7 percent from the previous month and was more than 32 percent ahead of July 2008. One in every 355 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 – July 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

n/a

n/a

Alaska

3

0

266

0

102

371

761

0.47

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska-Susitna Borough

0

0

73

0

24

97

295

1.21

2.58

Anchorage Municipality

1

0

120

0

52

173

644

0.55

1.18

Haines Borough

2

0

0

0

0

2

761

0.47

1.00

Fairbanks North Star Borough

0

0

31

0

18

49

775

0.46

0.98

Juneau City and Borough

0

0

12

0

3

15

857

0.41

0.89

 

 

Alaska Top Foreclosure Totals by Borough – July 2009

 

Borough

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 09

% Chg July 08

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

6.74

32.32

Alaska

3

0

266

0

102

371

761

76.67

79.23

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

1

0

120

0

52

173

644

108.43

40.65

Matanuska-Susitna Borough

0

0

73

0

24

97

295

106.38

155.26

Fairbanks North Star Borough

0

0

31

0

18

49

775

68.97

75.00

Kenai Peninsula

0

0

15

0

4

19

1,341

-20.83

137.50

Juneau City and Borough

0

0

12

0

3

15

857

-16.67

200.00

 

 

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