Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of Anchorage real estate 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)

Aug. 13, 2018

THE TRUTH ABOUT LIVING IN A CONDO

Are you in the market to purchase your next home? If so, you may be asking yourself- is getting a condo the better choice for me?

Living in a condo has its advantage and disadvantages. Read on to see if condo living fits your lifestyle and current needs.

Amenities

Pro:, fitness center, clubhouse and sauna would be expensive to add and maintain for a single family house. But these amenities usually come with condos. Access to these great features can really enhance your daily life!

Con: The downside? If you rarely use these nice amenities or you’re just not that interested in them, you still have to pay for it as a part of you association fees.

Maintenance

Pro: This is a big appeal when living in a condo since your association will take care of most, if not all of your maintenance and repair needs. You won’t have to cut the grass, fix the roof or even think about snow removal. It’s all taken care of!

Con: You may not have the ability to assess on your own when maintenance and repairs are needed. In some situations, there might be special assessment charges for unexpected repairs.

Security

Pro: Some condos have locked entry doors for added security and higher end condos may be in a gated area.

Con: For some, there may be less privacy since there is always staff or neighbors around common areas.

Community

Pro: You’re living in close proximity with other people and belong in the condo community. You’ll find yourself being more active and involved. There are lot of chances for engagement and relationship building around the lobby, pool, lounge and gym. Most condos put on social events for residents as well.

Con: You can’t pick your neighbors and they are just on the other side of the wall! Everyone needs to be considerate of noise levels.

Affordability

Pro: Some condos are more affordable than owning a home — and monthly costs may be equivalent to renting depending on where you live.

Con: Over time, the cost of the condo association and related fees may increase. Amenities may also change. Certain inclusions can be taken away.

We hope this list helps you in your decision when deciding whether to purchase a house or condo. Your decision will ultimately be based on location, lifestyle and how you view certain freedoms and restrictions on condo living versus owning a house.

 

Now- the fun part! Check out both condos AND homes for sale here or call (907) 570-6757 or 907-720-4663 for an exclusive coming to market soon list. Put our expertise to work for you!

Aug. 9, 2018

3 REASONS TO MOVE TO ANCHORAGE

 

Are you thinking of moving to Anchorage? Well, start packing! Here are the top ways that Anchorage is the place to call home!

BEST PLACE TO LIVE

Living in Anchorage definitely means a different lifestyle. It is a place where outdoor adventures and modern amenities meet up. A young city only founded in 1914 full of galleries and fine-dining restaurants in the city yet so near from some of the last true, unspoiled wilderness in the U.S. And not just that, it was named one of America’s richest cities and one of the top 100 best places to live!

NATURE AND ADVENTURE

If you are an adventure seeker, Anchorage is the place for you. Take a dip in Jewel or Goose Lake or go fishing or canoeing on Mirror Lake during summer or in winter, enjoy the city’s great outdoors where you will find some of the best skiing trails in the country, try snowshoeing and sledding too.

What else can you find? The Northern Lights, snow-capped mountains, streams, rivers, lakes, and oceans, sprawling forests! Rich wildlife with 5 national parks where you live with moose, eagles and beluga whales, get up close with glaciers - Anchorage has more than 50 glaciers in its city limits alone. Explore Portage Glacier, Anchorage’s top attraction, at least once in your lifetime – or not just once if you’re planning living here.

DIVERSITY

Anchorage is one of the most diverse populations in terms of ethnicity and culture in all the U.S. beating out Queens, New York. It’s usual to hear to "What's your name?" or "Where are you from?" because everyone is from everywhere. Nearly 100 languages are spoken by students in the Anchorage School District so students are exposed to dozens of languages every day which can help prepare them for the global marketplace.

Anchorage is diverse yet laid back- you’ll see locals in jeans and t-shirts even in high-end restaurants!

Interested in keeping up to date on the local real estate market? Sign up for free market reports here.

 

For insider info on Anchorage- including the best restaurants, schools, and family oriented neighborhoods, call us at 907-720-4663! 

Aug. 8, 2018

TOP 4 TIPS WHEN BUYING A HOME

Are you buying a home? Check out the following four must know tips!

DETERMINE HOW MUCH YOU CAN AFFORD

Knowing how much house you can afford will help you save time and money. Narrowing down your price range will insure that you only spend time looking at homes within your budget. Still need to get pre-qualified? For a list of trusted lenders, please reach out to us at 907-720-4663.

CONSIDER OTHER COSTS

It’s not just your mortgage payment. There are several costs that you will also have to be prepared for. Closing costs, appraisal fees, escrow fees, homeowner's insurance fees, property taxes, moving costs, repair and maintenance and bills too! Yes, you’re going to have to pay all these things when owning a home that the bank doesn’t care about when qualifying you for a mortgage.

Be prepared! Work with your real estate agent who can give you an overview of these costs and avoid the trouble of being overwhelmed. Determine the neighborhood’s property taxes and insurance cost. It is also a good idea to preview the seller’s utility bills for the last 12 months the home was occupied to have an idea how will they cost. 

SECURE AN AFFORDABLE MONTHLY PAYMENT

You can possibly buy a house with as little as 3% down payment but it can put you in a precarious position. If anything comes up and you will have to sell, you might end up owing more that you can get out of the sale considering the closing costs.

Create a budget before beginning a home search.  Owe a lower monthly mortgage and years of PMI by spending a year or two saving aggressively toward a down payment. A good rule of thumb is to allocate no more than 30-35% of your monthly household income to housing costs.

USE PROFESSIONAL HELP

It is possible to get into a home without professional help but that may not be the best for you when you consider that is is one of the biggest financial transactions you will be involved in. Licensed real estate professionals will be able to help you find a property quicker and make sure it is exactly what you’re looking for.

It is a competitive market right now; a good real estate agent will work in your best interests and walk you through the buying process smoothly. Be sure to select an agent who is a neighborhood expert in the area you’re interested in.

 

For a comprehensive breakdown of the home buying process- including credit score resources – check out our post here. We’d love to hear from you – call us at 907-720-4663.  

July 12, 2018

Eagle River Bear Paw Festival

Eagle River Bear Paw Festival 

 

The Bear Paw Festival is an event that my kids look forward to each year. This year, the events start on July 11 and run to July 15, 2018.

 

Click here for the list of Bear Paw events and times 

 

Bear Paw Event Descriptions 

 

ABOUT BEAR PAW 

 

HOPE YOU all have a fun and safe time! 

 

 

July 12, 2018

Anchorage Alaska Market Update. Anchorage Real Estate Market.

Anchorage Alaska Market Update

Anchorage Real Estate Market

 

The Anchorage Real Estate Market has definitely picked up in 2018. Buyers have a lot more homes to choose from as more homes come on the market. Home Sellers are still seeing success with less than 3 months marketing time, on average, for homes that are priced correctly.

 

During the week of 6/30/2018 to 7/6/2018, there were 760 listings that were active in Anchorage of which 66 were new listings. 45 listings pended & 35 officially closed and recorded. 

 

If you have any questions about the Anchorage real estate market and would like to start looking for homes today, give us a call/text or e-mail. 907-720-HOME(4663)

 

 

Posted in Market Updates
Feb. 27, 2018

Anchorage, Alaska Real Estate Statistics

Anchorage, Alaska Real Estate Statistics 

In December of 2017, there were 199 home sales in Anchorage, compared to 246 in December of 2016. Average sales price decreased slightly, from $366,211 to $365,023. Sales to list price of 98.26% with average DOM (days on market) of 117 days is a strong indication that we are still experiencing a seller's market. For more information, contact me at 907-720-4663. 

 

Thinking about Buying or Selling in Anchorage, Alaska? Give us a call today 907-720-4663. 

Posted in Market Updates
Feb. 27, 2018

FUR RONDY SCHEDULE OF EVENTS 2018

FUR RONDY SCHEDULE OF EVENTS 2018

 

Fur Rondy is the nation's premier winter festival. Since 1935, Rondy has proudly represented the pioneering spirit of Alaskans, offering wild and wacky fun for all ages. 

The Fur Rendezvous winter festival – known locally as Fur Rondy or "Rondy" – is a significant part of the Anchorage's history and tradition. In the mid-1930's, Anchorage was just a small town of about 3,000 people that stretched between Park Strip and Ship Creek. There were no televisions, malls or movie theaters, no video games, ipods or computers, not even an Iditarod! Winters could be brutal and stoking fires, shoveling snow and surviving the elements was a basic daily pastime for some in those days.

Vern Johnson, the father of Fur Rendezvous, was a likeable, outgoing Anchorage citizen with a keen understanding of social conditions. He and his friends decided to establish a 3-day winter festival that would coincide with the time that miners and trappers came to town with their yield. It began as a sports tournament, Feb. 15 - 17, 1935,  and featured skiing, hockey, basketball, boxing and a children's sled dog race down Fourth Avenue. Nearly the entire population of Anchorage turned out for the bonfire and torchlight parade. 

Since then, the Fur Rendezvous has earned national and international notoriety, and visitors from throughout the world descend on Anchorage every February to attend the 10-day festival.

Despite the passage of time and a multitude of modern diversions, Fur Rendezvous remains a highly anticipated time of year. Many events have withstood the test of time and continue to maintain their unique character. The Official Rondy Fur Auction has been a staple since the beginning. Given that the fur trade was Alaska's third most valuable industry in those days, incorporating the industry into the celebration was a logical idea.

The Blanket Toss, an ancient Alaska Native tradition, joined the festival in 1950. Native Alaskans were flown into Anchorage from Nome and the Little Diomede Islands to participate in the Blanket Toss and showcase their captivating tribal dances. The World Championship Sled Dog Race debuted in 1946 and has become the cornerstone event of the festival, bringing teams of sled dogs and mushers to Anchorage from across Alaska and all over the world. 

 

Other crowd-pleasing events include the Rondy Carnival, Grand Parade, Outhouse Races, Snowshoe Softball and Running of the Reindeer – a mellower version of Pamplona’s Running of the Bulls and much more.

 

DATA SOURCE: http://www.furrondy.net/events/schedule

 

 

 

 

Feb. 27, 2018

Home Buying Wants Versus Needs

WANTS  VS NEEDS

 

When making a purchase as big as a home purchase is, it’s important to differentiate needs vs. wants. There’s a saying that goes something like, “if you want it all, you might end up with nothing at all.” The biggest reason for this is BUDGET. Depending on your budget, your qualification amount and how much you want to spend on mortgage payments, dividing your needs and your wants will benefit you in the long run. Below are a list of items that can be classified as “needs” and “wants.”

 

Needs are things that are non-negotiable and things that cannot be easily changed over time, such as:

-Number of bathrooms          -Yard size        -Neighborhood, safety and schools

-Number of bedrooms            -Square Footage         -Garage/storage area

 

Wants are things that you’d like to have and could be changed over time, such as:

-Landscaping                           -Hardwood Floors       -Newer Windows

-Latest paint trend                  -Remodeled Kitchen   -Remodeled Bath

 

Happy House Hunting!

 

 

 

If you are looking for a House in the Anchorage, Alaska area, call us for showings, 907-720-4663.

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

Receive the Latest Local Market Stats

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