Alaska Foreclosures Rise in November

Filings up 9 percent from October

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 262 Alaska properties in November, up 9 percent from the previous month, but down nearly 4 percent from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

One in every 1,082 Alaska housing units received a foreclosure filing in November, the 34th highest state foreclosure rate in the nation.

 

“Unlike much of the nation, which saw a drop in foreclosure activity in November due to fallout from the ‘robo-signing’ controversy, Alaska actually reported a substantial increase in its number of filings for the month,” said James J. Saccacio, chief executive officer of RealtyTrac. “With a comparatively low unemployment rate of 8 percent, it appears the state should see some slowdown in activity in the coming months as long as lenders continue to have their processes thoroughly checked for accuracy and fairness.”

 

Matanuska-Susitna Borough has top foreclosure rate in November

One in every 422 housing units received a foreclosure filing in Matanuska-Susitna Borough in November — 1.1 times the national average and 2.6 times the state average. Anchorage Municipality had the second highest rate, reporting one in every 896 housing units receiving a foreclosure filing — 1.2 times the state average. Kodiak Island came in third, with one in every 1,127 housing units receiving a foreclosure filing — on par with the state average.

 

Anchorage Municipality reports highest foreclosure total in the state

Anchorage Municipality led the state in foreclosure activity, reporting 125 properties with foreclosure filings. Matanuska-Susitna Borough had the second highest total reporting 68 properties with foreclosure filings. Fairbanks North Star Borough was third highest, tallying 26 properties with foreclosure filings. Kenai Peninsula reported 19 properties with foreclosure filings for the month, the state’s fourth highest activity level. Juneau City and Borough, Ketchikan Gateway Borough and Kodiak Island tied for fifth highest, all reporting five properties with foreclosure filings for the month.

 

State a minor contributor to total foreclosure total

Alaska accounted for less than 1 percent of the 262,339 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 21 percent from the previous month, and was down more than 14 percent from the level reported in November 2009. One in every 492 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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/Municipality – November 2010

 

Borough/Muni.

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

n/a

n/a

Alaska

0

0

179

0

83

262

1,082

0.45

n/a

 

 

 

 

 

 

 

 

 

 

Matanuska-Susitna Borough

0

0

43

0

25

68

422

1.17

2.56

Anchorage Municipality

0

0

90

0

35

125

896

0.55

1.21

Kodiak Island

0

0

5

0

0

5

1,127

0.44

0.96

Ketchikan Gateway Borough

0

0

4

0

1

5

1,317

0.37

0.82

Sitka City and Borough

0

0

1

0

2

3

1,319

0.37

0.82

 

 

Alaska Top Foreclosure Totals by Borough/Municipality – November 2010

 

Borough/Muni.

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 10

% Chg Nov 09

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

-21.02

-14.44

Alaska

0

0

179

0

83

262

1,082

9.17

-3.68

 

 

 

 

 

 

 

 

 

 

Anchorage Municipality

0

0

90

0

35

125

896

15.74

5.93

Matanuska-Susitna Borough

0

0

43

0

25

68

422

19.30

9.68

Fairbanks North Star Borough

0

0

19

0

7

26

1,462

-39.53

-35.00

Kenai Peninsula

0

0

11

0

8

19

1,346

11.76

-20.83

Juneau City and Borough

0

0

3

0

2

5

2,578

25.00

-66.67

Ketchikan Gateway Borough

0

0

4

0

1

5

1,317

150.00

25.00

Kodiak Island

0

0

5

0

0

5

1,127

400.00

400.00

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved