Listings on our site about affordable Alaska home foreclosures for sale, with homes and repos at bargain prices, are being updated on a daily basis. Our Alaska foreclosure listings provide an ample array of housing options and deals for any prospective homeowner that is aiming towards buying a home.
Search through the best listings of foreclosures in Alaska. We provide foreclosed homes and auctions in the major Alaska cities. Choose a city and fing an excellent deal for you!
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The oil and gas industry dominates the Alaskan economy and is by far the greatest source of revenue Alaska contains within its borders. Some of the largest oilfields in North America are located in the Alaskan region. The industry's prosperity is so great that it accounts for almost 80 percent of the state's total revenue. It also produces over 34,000 jobs per year, particularly in Anchorage, the state's largest and most populous city.
Besides contributing to Alaska's booming oil and gas industry, Anchorage garners its economic growth from other areas, including the shipping and transportation industry, the military, tourism, and liquidations. Its shipping sector thrives most on the exporting of seafood - particularly salmon, crab and pollock. The state's two most prominent military bases are the Eielson Air Force Base, located in Fairbanks, and Elmendorf Air Force Base, which is located in Anchorage. Due to a large industrial sector in Anchorage and its neighboring cities, the demographic here consists mainly of blue-collar workers, with a median annual income of approximately $63,505. The city, besides industry and military establishments, features a broad range of educational opportunities, research facilities, and business centers. This includes the Anchorage Public Library, Alaska Pacific University, the Alaska Small Business and Development Center, and the Anchorage School District, which all cater towards growing families.
Alaska's capital city is Juneau, situated in the southwest region of the state. In a similar vein to Anchorage, fishing and exporting are major contributors to the city's economy, though on a more modest scale in comparison to Anchorage. The tourism industry is also an essential factor in the city's growth, which garners its success due to a history of gold mining and its extraordinarily beautiful scenery. There are many cruise lines that offer trips along the scenic Alaskan coast line. Such attributes have been attracting visitors to this area since the early 1900's, a trend that continues to this day.
For those wishing to live in Alaska, median house prices are averaging around $239,900, with rental prices averaging at approximately $1,200. A plethora of Alaska home foreclosures are available to suit every homeowner or renter's needs, including multi-family apartments, flats, traditional three or four bedroom homes, villas, and mobile homes. Our array of Alaska foreclosures is catered to suit every individual's needs, requirements and lifestyle preferences.
In the state of Alaska, most deeds of trust contain what is known as a power of sale clause. This clause gives the lender the power to foreclose on a borrower (homeowner) found to be in default. Even though judicial foreclosures are available in Alaska, the majority of foreclosures are carried out outside of the court system.
For a non-judicial foreclosure to begin, the homeowner must be found to be in default for a period of at least thirty days. After this point, a lender may issue a notice of sale, which must contain the deed of trust information, a description of the property, the debt owed, as well as the date, time and location of the foreclosure sale. This notice is sent to all affected parties, including the homeowner and any other lenders from whom the homeowner might have received loans. Besides being sent to certain involved parties, the notice must also be posted on the property in question. The homeowner retains the right to halt the foreclosure process by paying off the outstanding debt at any point up until the date of the foreclosure sale.
In the case of judicial foreclosures, the lender does not have to wait for the homeowner to have been in default for thirty days before taking action. The lender may file a "Lis Pendens" (notice of impending lawsuit) at any time in order to provide evidence to the court of a default in payment. The homeowner also receives a copy of the Lis Pendens and is given a period of 20 days in which to respond. If the homeowner makes no action within this time period, the court can rule against the homeowner and instruct that the property be sold.
For both types of foreclosures, a notice of sale must be posted in three public places (including the nearest U.S. Post Office) as well as in a local newspaper for at least 30 days prior to the scheduled sale date. If the foreclosure sale is postponed, the person conducting the sale must announce it publicly. If the sale’s delay lasts for more than three months, the lender is required to draw up a new foreclosure sale.
At non-judicial foreclosure sales (which are typically conducted by the lender's attorney), the property is auctioned off to the highest bidder. After the payment has been procured, the trustee of the property transfers ownership to the winning bidder and provides them with a new title deed to the property. In most cases, all Junior Liens (minor costs or interests) associated with the previous deed are waived. The original homeowner has no right to redemption unless stipulated in the deed of trust agreement. A non-judicial foreclosure in Alaska usually does not take that long; the average non-judicial foreclosure sale in Alaska usually lasts from three to four months.
Court-ordered foreclosure auctions are run in a similar fashion, although they are usually conducted by a court clerk. After the auction, the winning bidder is presented with a certificate of sale, which must be confirmed by the court upon payment. In this case, the original homeowner has a right to redemption for up to one full year after the confirmation of the sale. In order to redeem ownership, the homeowner must pay the amount of the sale price, plus an eight percent interest and any other applicable costs. If the property is not redeemed, the winning bidder obtains full ownership of the property.
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