State’s Activity Down 36 Percent From Year Ago
IRVINE, Calif. – August 31, 2006 – Alaska reported 90 properties entering some stage of the foreclosure process in August, an 8 percent increase in activity from the 83 properties reported in July, but 36 percent below the 140 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.
“Although Alaska foreclosures increased slightly in August, the numbers are down significantly since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Solid home sales and property appreciation levels in 2006 are likely keeping these figures down.”
Alaska ranked 39th among the 50 states for foreclosure activity during August. The state’s foreclosure rate of one new foreclosure filing for every 2,280 households — 44 percent of the national average — ranks it 25th among the 50 states.
Top two counties account for largest share of state total
Anchorage and Matanuska Susitna counties accounted for 78 percent of all foreclosures in Alaska for August, led by Anchorage County reporting 45 properties entering some stage of the foreclosure process. Matanuska Susitna County had the second highest total, reporting 25 properties entering some stage of the foreclosure process.
Highest foreclosure rate reported in Kenai Peninsula
Kenai Peninsula County posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 415 households — 5.5 times the state average and 2.4 times the national average. Reporting one new foreclosure filing for every 1,093 households — 2.1 times the state average and 92 percent of the national average — Matanuska Susitna County had the second highest foreclosure rate. Completing the top three was Ketchikan Gateway County with one new foreclosure filing for every 1,244 households — 1.8 times the state average.
State has minor impact on national total
Alaska‘s foreclosure activity accounted for 0.1 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 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).
Alaska Foreclosure Market by County – August 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