Mat-Su Valley foreclosures and bank-owned homes for sale

How the Mat-Su Valley foreclosure search works

The listings below this guide come from a saved MLS search for Wasilla and Palmer listings marked as foreclosures. The search updates as the MLS changes. Some weeks there are only a few listings, or none.

• This search shows listings whose MLS city is Wasilla or Palmer, which includes many addresses outside those city limits. Listings in other Mat-Su Valley communities are not in this search. Property in and around Wasilla and Palmer is in the Matanuska-Susitna Borough.
• The search relies on how each listing agent marked the listing in the MLS. It can include other distressed or as-is sales, and it can miss a bank-owned home that was marked differently.
• Trustee sales and tax-foreclosure sales are not MLS listings, so they do not appear in the search.

Types of foreclosure and distressed sales in the Mat-Su Valley

Mat-Su Borough tax and LID foreclosure sales

Mat-Su Valley property that the Matanuska-Susitna Borough takes for unpaid property taxes or local improvement district (LID) assessments is sold by the Borough, not on the MLS. These are the main points from the Borough's sale page.

• The Borough takes ownership by a judicial clerk's deed and offers the parcels only in a sale. When we checked on November 13, 2026, the Borough's page said the Spring 2026 sale had concluded and no tax-foreclosure properties were for sale.
• Parcels go to a competitive sale first. Parcels that do not sell may be offered later in over-the-counter sales.
• Sales are cash only, with no Borough financing. The Borough accepts money orders, cashier's checks or cash.
• Bidders must register in person before bidding. The Borough says sale information is posted at least four weeks before a sale.
• The former record owner can repurchase a parcel at any time before it sells, so parcels can be pulled from a sale.
• Property is sold as is, where is, by a quitclaim Tax and LID Sale Deed. The Borough says it does not promise clear title, so plan on a title review.
• The Borough's Land and Resource Management Division keeps an email list for sale notices.

Official sources: Tax and LID Foreclosure Sale (Mat-Su Borough) and Land Sales (Mat-Su Borough).

How foreclosure works in Alaska

When a home loan is secured by a deed of trust, Alaska law lets the trustee sell the property at a public sale without first going to court, if the notice rules in AS 34.20.070 are followed.

• The trustee records a notice of default at least 30 days after the default and at least three months before the sale, and mails copies to the owner and others with a recorded interest.
• If the default is missed payments, the owner can generally cure it before the sale by paying the amount in default plus certain costs. The statute lets the trustee refuse a cure after two or more earlier cured defaults under the same deed of trust.
• If the lender is the winning bidder at the sale, the property may later come to market as a bank-owned (REO) listing.

This is a plain-language summary of one statute, not legal advice. A buyer at a trustee sale or a homeowner facing one should talk with an Alaska attorney. Homeowners can also read our guide to selling before foreclosure in Alaska.

What to check on a Mat-Su Valley foreclosure

• Read the listing remarks for the type of sale and any terms
• Ask what disclosures the seller can and cannot provide
• Schedule inspections early, including heating, plumbing and the roof
• Get repair bids before you decide on a price
• Order and read the title report
• Confirm the loan program allows the property's condition

We do not estimate values, repair costs or returns on this page. If you plan to rent the home out, our Alaska investing guide covers the basics, and James or Ryan can pull recent nearby sales for you.

Mat-Su Valley foreclosure FAQ

Where the program details came from

Checked November 13, 2026 (America/Anchorage). Sale schedules and rules change. If an official page differs from this summary, the official page controls.

• Alaska Statutes, AS 34.20.070, Sale by trustee.
• Matanuska-Susitna Borough, Tax and LID Foreclosure Sale and Land Sales.
• Listings: Alaska MLS via the Properties of Alaska IDX search. Information deemed reliable but not guaranteed.