Sometimes I forget that the Municipality of Anchorage (MOA) is more than the Anchorage Bowl. Its 1,947 square miles stretching all the way to Portage and north to Eklutna. We all tend to be a bit myopic and get comfortable with our favorite Costco or coffee Continue Reading
Time to Test Your Local Real Estate Knowledge
Learn more about the market and test your real estate knowledge with this quiz! 1. According to the US census, what is the population of the Municipality of Anchorage (MOA) ? A. 292,090 B. 302,100 C. Continue Reading
If You Build It, Will It Sell?
And the answer is YES, despite the fact national homebuilder confidence has fallen for the 8th straight month. According to a recently published report by NAHB, 69% of builders reported higher interest rates as the reason behind falling housing demand, the top impact Continue Reading
Have We Reached a Post Covid Normal?
This past week I saw in MLS several price reductions, open houses and bonuses to selling licensees—all of which seemed like a return to normal pre-covid marketing activities. Despite the continued shortage of inventory and the 5% plus mortgage interest rates, I Continue Reading
Mortgage Lenders React to Market Shifts with New Loan Programs
Mortgage lenders and their back-end investors are reacting with aggressive new and revised loan programs to help potential buyers disappointed with higher interest rates while they struggle to find an affordable home. Despite the increased 5.75% for today’s Continue Reading
A Mid-Year Perspective on Alaska’s Housing
According to the 2021 U.S. census, there are 327,890 occupied housing units in Alaska which amounts to about two people per household. That’s an interesting statistic but what is even more interesting is the age of the housing stock. The median age for a dwelling Continue Reading
Alaska’s Housing Shortage Continues
The good news is that single family permits have increased from last year. Through April 2022 single family permits rose to 73 compared to 62 in 2021. That’s not much of an increase but it’s a good start with the expectation that lower framing prices will encourage Continue Reading
Good Luck if You are a Condo Buyer
Last month there were only seven condos for sale in Anchorage. On May 17, there were no Anchorage condos for sale less than $274,900 and only a total of five condos for sale above that price point. Yesterday, there were zero condos for sale in Palmer/Wasilla. And Continue Reading
Can Anchorage Build Its Way Out of the Housing Shortage?
Not if the April 2022’s most recent building safety activity report is any indication. Single family building permits are up from 62 to 73 but duplex permits are down from 24 units in 2021 to 8 this year. That’s a breakeven number for the two most desirable housing Continue Reading
The Square Footage of Your Home Just Changed
In April Fannie Mae, a primary investor in residential mortgages for single family homes and townhouses, changed the rules on how appraisers should measure, calculate and report on the gross living area of your home (GLA) and non GLA areas. A non GLA Continue Reading
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