ALASKA FORECLOSURES INCREASE MORE THAN 2 PERCENT IN MAY

State Activity Decreases 55 Percent From Last Year

 

IRVINE, Calif. – June 30, 2006 – Alaska reported 86 properties entering some stage of foreclosure in May, an increase of more than 2 percent from the 84 properties reported the previous month, but a 55 percent decrease from the 189 properties reported for the same month last year, according to the RealtyTrac™ May 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Although foreclosures in Alaska increased slightly in May, the numbers have decreased from this time last year by more than half,” said James J. Saccacio, chief executive officer of RealtyTrac.  “Continued job growth and steady home price appreciation are most likely contributing to this decrease.”

 

Reporting one foreclosure filing for every 2,386 households — 52 percent of the national average — the state’s foreclosure rate ranked 25th among the 50 states. The state accounted for less than 1 percent of the nation’s total foreclosures, with 39 states reporting more foreclosures than Alaska.

 

Most Foreclosures Found in Anchorage County

Anchorage County accounted for almost half of the state’s foreclosure filings for the month, reporting 42 properties entering some stage of foreclosure. Other counties with notable foreclosure totals included Matanuska Susitna County reporting 18 properties, and Fairbanks North Star County reporting 15 properties in the foreclosure pipeline.

 

Kenai Peninsula Posts Highest Foreclosure Rate for the Month

Reporting one new foreclosure for every 311 households — 7.8 times the state average and 4 times the national average — Kenai Peninsula County had the highest foreclosure rate in the state for May. Matanuska Susitna County came in second, reporting one new foreclosure filing for every 1,518 households — 1.6 times the state average and 82 percent of the national average.

 

Alaska Makes Minimal Contribution to Monthly National Total

Alaska foreclosures accounted for less than one percent of the 92,746 properties entering some stage of foreclosure nationwide in June. The national total represents an almost 2 percent increase from the 91,168 foreclosures reported in April. The nation’s foreclosure rate also decreased to one new foreclosure filing for every 1,247 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a graphical map that illustrates foreclosure percentiles by state (appended to this press release or available by request), as well as the total number of homes in some stage of foreclosure nationwide and by state over the preceding month. Data is also available at the individual county level. 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 Statistics by County – May 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

22,455

37,186

2,849

10,176

20,180

92,746

1,247

Alaska

6

70

0

0

10

86

2386

0.52

 

 

 

 

 

 

 

 

 

 

Anchorage

3

37

0

0

2

42

2,390

0.52

1.00

Fairbanks North Star

0

14

0

0

1

15

2,219

0.56

1.08

Kenai Peninsula

2

4

0

0

2

8

311

4.01

7.67

Ketchikan Gateway

0

2

0

0

1

3

2,073

0.60

1.15

Matanuska Susitna

1

13

0

0

4

18

1,518

0.82

1.57

 

About RealtyTrac Inc.

Ranked as the fourth largest real estate site by Nielsen NetRatings, 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 and new construction properties, with more than 600,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts more than 3 million unique visitors monthly and has been chosen to supply foreclosure data to AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. 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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