Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics including many Alaskan towns such as Anchorage, Girdwood, Eagle River, Chugiak, Wasilla, Palmer, Kenai, Homer and more! Learn about Alaskan home values to community happenings. That’s because we care about the Alaskan community and want to help you find your place here whether you are relocating to Anchorage, Fairbanks or the Kenai Peninsula!  Please reach out if you have any questions at all. We’d love to talk with you! 907-720-HOME(4663)

Jan. 11, 2018

Pros and Cons of Buying a Short Sale. Anchorage, Alaska Real Estate Tid Bits

What is a Short Sale? Pros and Cons of buying a Short Sale Property

Anchorage, Alaska Real Estate

 

What is a Short Sale? 

short sale is when the proceeds of a property is less than the lien amount. In other words, the proceeds of the sale fall short of the total amount owed to the bank (lien holder) and the lien holder agrees to release the real estate for the lesser amount because the homeowner cannot afford to pay the mortgage.  A short sale is often a popular alternative to foreclosure. Most short sales are done through a third party, usually a Real Estate Professional. In most short sale cases, homeownersare facing a financial hardship and have to prove their hardship to the lienholder.

 

Pros of a Buying a Short Sale:

-The biggest advantage of buying a short sale is PRICE. Short sale listings are typically listed below market value which provides a buyer great opportunity to purchase a home with intant equity.

-Short Sale Listings tend to be in better condition than Foreclosed Homes.

  

Cons of Buying a Short Sale:

-The biggest disadvantage of buying a short sale is TIME. Short sale buyers must be patient because third party (lienholder) approval is required after the seller has accepted an offer on their home.

-The Home is ususally sold As-Is.

-There are no guarantees that the home buyer will get to close on the home, even with months and months of waiting. 

 

Every short sale situation is unique and every negotiator for each short sale is unique so it's hard to predict the outcome of these sales.

The best way to go into buying a short sale is to NOT get emotionally attached to the home. And although I discourage my buyers from looking at a home purchase purely for financial reasons... it is almost encouraged to think of a short sale in that way.

Consider how much time your family has to wait on a home and how much time you consider reasonable. Never ever put your hopes on a short sale home. Once buyers get emotionally invested in ashort sale, it can be hard to make pracitical decisions which can affect your ability to do what is best for your family.

 

Some questions to ask the listing agent:

1. How far along are you in the short sale process?

2. Has the bank approved a certain listing amount?

3. Has any paperwork been submitted to the bank?

4. Is there a foreclosure sale date set?

5. Is the seller willing to do repairs?

 

Good luck to you and your family in this exciting time in your life!!! Happpy Home Hunting!

Jan. 10, 2018

Curious About Local Real Estate? We are your Anchorage Real Estate Experts

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates
Jan. 10, 2018

Tips to Sticking to Your NEW Years Resolution

A New Year. New Resolutions. Tips to sticking to them!

A New Year. New Resolutions. Tips to sticking to them!    How many of us are excited around this time of year, not just for the upcoming holidays but also for a new year, a rebirth almost? We make New Years Resolutions with the best of intentions, hoping, praying that we'll stick to them whether they are for better health, more education, working towards a raise, spending more time with loved ones, being a better parent, the list goes on and on and on....

We never intend on breaking our resolutions. No, promises are not meant to be broken. That's basically what a New Year's Resolution is-a promise we make to ourselves. But with the stress and busy-ness of life, we all too often forget about our resolutions. I often ask myself, if I had kept my New Years resolution each year, would I be a better person? Would my children have a better mother? Would my business be more successful? In no way can I regret the years that have passed. I'm not able to go back in time to redo anything so I found some tips and solutions to keeping my New Years resolution and I hope that this helps you as well.

Tips to keeping your New Years Resolution:

1. Be Realistic about your resolution.  Think long term and short term. Break your goals up into smaller achievements. Set a timeline in which you want to complete each goal until you reach your long term goal (the big picture).

 

2. Focus on one resolution at a time. It's much easier when you can focus on one change rather than 10 different changes so cut yourself some slack and work on one thing at a time. 

 

3. Use positive language rather than negative demands (wikihow.com). Highlighting the benefit of your resolution can be more motivating than focusingin on the negative reason why you should change. 

 

4. Get some support. This is a very important one not just because moral support is important but also because telling others about your goal(s) holds you accountable. =) Telling others about your resolution can also help motivate them to boost their resolutions. 

5. Review your progress. Keep a journal. Write it in daily, weekly, bi-weekly...whatever works best for you. Writing down your progress gives you a clear picture of where you started, where you are presently and where you want to be. 

6. Celebrate!!! Always remember to celebrate your success. However, make sure that the way you celebrate doesn't go against your resolution. 

 

I hope you all have a wonderful, joyful, successful 2014 filled with lots of love, family, laughter and HUGS!!!

 

IF BUYING A HOME OR SELLING YOUR HOME in ALASKA IS ONE OF YOUR GOALS,  Call 907-720-HOME(4663)

 

SEARCH ALASKA MLS RIGHT NOW!      SELL YOUR HOME!

 

FIND OUT THE VALUE OF YOUR HOME!

Posted in Practical Advice