During the past couple of weeks, Iâ€™ve had two clients looking to purchase a home under $250,000. One important factor, other than the number of bedrooms/bathrooms/size of the garage/age and location, is the amount of the condo dues versus none that are required for a Continue Reading
Is Small the New Big?
After years of single family homes increasing in size, the U.S. Census Bureau reports that the new single family home decreased from 2,438 square feet to 2,377 in 2010.Â Here in Anchorage that doesnâ€™t come as much of a surprise as builders have struggled to stay afloat Continue Reading
Anchorage Housing Costs
Itâ€™s no secret that housing nationwide represents the largest share of consumer spending and Anchorage residents are no different.Â According to the U.S. Department of Labor, Anchorage residents spend a whopping 41.3% of their income on housing, making it the most Continue Reading
Lack of New Construction Frustrates Home Buyers
Last night a buyer said to me, â€œWe were about to make an offer on a home built in l983 but then realized weâ€™d be buying a home thatâ€™s almost thirty years old!Â Weâ€™re concerned about maintenance and repairs. Can you show us something new?â€Â Just a few days before Continue Reading
Low Interest Rates Create More Buying Power
Our current low interest rates are a bright spot in a flat housing market. Low interest rates allow buyers to qualify for a much higher valued home. The current rate on a thirty year fixed rate loan is 4.5%. When that interest rate bumps up just one percent which it surely Continue Reading
A Closer Look at the Upper End Market
Call them McMansions, Trophy Homes, Dream Homes.Â The Upper End market over $750,000 in Anchorage is a cautionary tale, indeed.Â There are 19 million dollar plus homes for sale in Anchorage and they are absorbed at less than half a home per month.Â In other words, we have Continue Reading
Hot and Cold Spots in the Anchorage Market
Well, folks, it looks like Eagle River has out danced all other districts and won the mirror ball or ifÂ you are a hockey fan call it the Kelly Cup of real estate-- at least for the first four months of this year. This bedroom community had a 17% increase in the number of Continue Reading
How’s the Market?
And the answer is â€˜It depends.â€ If youâ€™re a single family home builder, the market has become a little bit better for you in 2011 year to date with 100 new single family permits issued.Â As a builder, you may be breathing a small sigh of relief that youâ€™re going to Continue Reading
Selecting a Realtor
For most people, buying and selling their home is the most important financial decision they will make in their lifetime. The average price of a home in Anchorage is currently over $320,000 and so a decision of that magnitude requires careful thought and in some cases, Continue Reading
Have We Hit Bottom?
The Anchorage and Eagle River new construction market hit a low in 2008/ 2009 and is making a slow climb back. Historically low mortgage interest rates, along with a stable Alaska economy, is helping builders make a modest comeback in 2010 for single family home Continue Reading
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