Fix-and-Flips: Sales Coach: REALTOR® Magazine.

For much of the country it is still fall, and in some parts the eternal summer blazes on.  Here in Alaska fall has been gone for at least a month. Winter was not roaring in, but it did last night and appears that it may return again tomorrow with an additional 4 inches of snow.

Now winter is here it is time to stop selling real estate, close the office and hibernate until spring.  See ya next spring!

Wait! Now I’m sounding like the national talking heads when their talking about the economy.  No one should buy anything the economy is in the toilet.  Please hold my hand because I think life as we know it is over.

Come on give me a break.  The economy took a hit and it has come back steady. It’s not roaring but its chugging right along.  So is the housing market; just because we have some snow and winter is settling in is no reason to hibernate until spring.  Interest rates are at an all time low.  You can get a great home in this market.  There are some great deals and there are some great home that you will have to pay the asking price.

Now is a great time to buy a home, just be careful as you walk up the steps.  And if you’re thing about selling, inventory levels are low, put your home out there and get it sold. 

By the way, make sure you shovel the sidewalk and please turn on all the lights.

What should I do? Is the market ok? Interest rates are really low, should I refinance?

Theses are questions that people ask every time I go out. The answer varies and is not that simple. Interest rates are really low, but if you think you will be moving in the next year, then the cost of refinancing is not offset by the lowered payments. You should speak with an accountant if you are unsure of the true costs. Sometime the banker giving you money is not looking out for your long term interest. They entice you with the lower payment and roll the closing costs and appraisal fees into your new loan. This just raises the payoff on your home and you will have wasted this money if you will be selling in the near future.

I define the near future as less than two years. Some loans may charge you a slightly higher interest rate to compensate for the fees and not raise the loan amount. This might be a better route if you know you will be selling, that is if it lowers your monthly payment. Also if you’ve paid 4 years on your loan don’t just go into a new 30 year. set the amortization at 26 years and see what the difference in payment is, why pay interest for an additional 4 years if you do not have to.

Now might be a great time to move up or down into the right sized house. There are great opportunities on the market. In our area we will see more properties coming on the market and the perfect home for you might be among them. There will be more foreclosures. There is a shadow inventory in our area and it will be coming on the market this winter. Foreclosures do sell for less than a nice home, you may be able to get a good buy.

You might look at an investment property. Rentals are in high demand.The stock market is not doing all that well, low returns and lots of uncertainties. Maybe its time to invest in real estate. Rates are low and prices are down. If this is something you might want to do please call me to discuss being a landlord. It is not for everybody. You must be disciplined and reinvest your returns into your property or save for that big repair. It is not a matter of if you will need money for your rental, but when.

I get a lot of questions about real estate and I love to answer them. Real Estate is local, you should talk with a local expert.

Call me if you would like to talk, 907-360-7471.

Can you believe everything people tell you? Of course not, and I can her my Dad right now, “If your friends jumped off a cliff, would you jump off a cliff?” No, and I still believe in this very valuable advice.

Last week I was enjoying my morning coffee while watching some of the national cable news programs. Wow, they do a great job creating a very entertaining show. The topic was the mortgage crisis, and they were talking about the foreclosures and that the investigations were underway. Foreclosures had been halted in all 50 States and we would be lucky if we ever saw another good loan. It was bad, they made the housing industry sound terrible.

I started to wonder if we would be selling homes next week. Then this week they have another gentleman on came to say they had it all wrong. The host was very suspect of his statements. The guest speaker went on to say that there was a tremendous amount of misinformation being tossed about as fact. Well guess what?

He was right. I did a little research to clear my mind and to be able to answer questions from friends and clients that wanted to know what was what. There seems there were cases that people were wrongfully foreclosed on, but this is the exception not the rule. There was also the issue of title being lost in the shuffle as Wall Street made all this money. I am referring to the Securitization of loans. They mentioned on the show that if the security was traded that the title history could not be tracked. This turns out to be a bunch of fear mongering.

The M.E.R.S., Mortgage Electronic Registration System is used to tract mortage backed securities. the 14 digit number that tracts the loan package is recorded as an assignment at the local Recorder’s office. This number keeps track of the Title history. There is no problem.

The news channels are selling advertising, so they make the story interesting. Kind of like Dr. Seuss made kid stories interesting.

If you need help decerning fact from fiction please give me a call. Eric Bushnell 907-360-7471

4 weeks into the new year and real estate sales in Eagle River Alaska are steady.  There was an initial rush of new homes on the market just after the first of the year.  Many of these homes had been previously listed and removed from the market during the holidays.  So, after this initial rush, the flow of new inventory has continued at a slow pace.  This good for sellers and buyers alike; the market remains stable.

The National association of Realtors came out with their latest number and the country saw a reduction in number of sales by 17% over last year at this same time.  They were anticipating the number to be closer to 10%.  This means that the housing recovery is going to take time.  I think everyone realizes this, they just wish it would happen sooner.

In Alaska, we’re seeing the same steady market that we’ve seen in recent years.   I hear this quote just the other day “This market is an ‘Opportunistic Market’; there are opportunities for buyer and sellers.  This is so true.  Values have remained steady on nice home, and homes that need work can be bought at a reduced price. 

Here are the numbers for Eagle River* Alaska residential sales:

• 15 New Homes on the market
• 5 Homes pended under new contracts
• 5 homes Closed

There are currently 96 homes being marketed in Eagle River.

• 73 existing homes
• 0 New Construction Complete
• 11 Homes under Construction
• 12 Homes To Be Built (not started)

The number of homes available offers some great opportunities to buyers and for sellers that have very nice homes.  The current homes range in price from $169,000 to $1,100,000. 

To find out what your home is worth visit www.ValueMyAlaskanHome.com.

To receive a list of the latest homes on the market in South Central Alaska visit www.EagleRiverHomesforSale.com!

 

 

 

*This representation is based in whole, or part, on data supplied by, and to, the Subscribers of Alaska MLS.  Alaska MLS does not guarantee, nor is it in any way responsible for, its accuracy.  Data maintained by Alaska MLS is for its own use and may not reflect all real estate activity in the market. 

 

 

Seven Insider Secrets On Showcasing Your Home For A Successful Sale

 Special Report-  

 Most prospective buyers make their decisions based on the emotional reactions they form upon first seeing your home. In fact, seasoned real estate professionals will tell you that even the smallest detail can be an important deciding factor, especially in a competitive market. The key to getting a buyer interested in your home — and getting them to place an offer that reflects its top value — is helping that prospective buyer feel comfortable while viewing your property. You want them to establish a connection from the moment they drive up to your home. And once they’ve viewed the inside, you want them to see themselves living comfortably in it.

Too many home sellers underestimate the power of this emotional response. As a result, they see competing homes down the street get the “Just-Sold” signs, while their own real estate investment languishes on the market, not getting offers worthy of its value. How can you avoid having this happen to you? Read on…Click here for full report (16 pages). …

For more information on the value of your home visit www.valuemyAlaskanhome.com. You will receive a Computerized Market Analysis by e-mail. 

 

The winter selling season is in full swing and we have entered the holiday season.  These two factors are showing in the current Eagle River real estate market activity.

Here in Eagle River the market activity* was consistent for this time of year. 

• There were just 3 new homes listed
• 5 homes pended(accepted offers)
• 2 homes closed (completed escrow contract)

The current number of existing homes available in Eagle River is dwindling, and in now down to just 59.  there are several new homes under construction however the few under construction will probably not be available until the January/February time frame. 

Information received from The Chugiak/Eagle River Chamber of Commerce shows local military personnel currently deployed returning in January.  There is also word that a new Battalion is being formed at Fort Richardson.  This could increase the population by as many as 5500 persons (not including families).  Current base housing availability is about 1200 units.  Not enough to accommodate the expected growth.

Housing availability in Eagle River will continue to be tight for the next 4-6 months.  Potential buyers may find themselves competing with other buyers for the best homes.  For helpful tips you may want to read the following report, “Eight Insiders tips for Home Buyers”. 

*Based on information from AK MLS, Inc. for the period (date) through (date) but not compiled or published by AK MLS, Inc. Data maintained by AK MLS, Inc. may not reflect all real estate activity in the market.

Wow, I was driving into the office this morning and a 25 minute drive was drawn out into an hour and 15 minutes. The snow was falling and traffic was crawling. This happens every once and a while here in Alaska. So I stared at the break lights in front of me and made sure I did not end up on the trailor hitch of the truck in front of me. I also listened to a great book along the way.

“Marketing to the Social Web” by Larry Weber. Very good listening material for a drive like this morning. It made me really think about my own business practices. I also saw the relevance this book would have in many industries. Larry Weber illustrates the use of blogs and website for business and client communication in a manner that is easy to understand.

So, now that I am here in the office I go online, take a quick look at some of the national blog sites and Wow. I’ve only done limited blogging and it in no way resembles what I see out there in the mainstream of America. These modern blog sites resemble the front page of Google and MSN.

Blog’s have become a business and are gaining traction in business. Well that is an understatement. Blog’s have a very prominent place in business today. Whether its real estate, automotive, big oil, or the retail market place, there is a blog about the industry. Not just one blog, probably 100′s. Blog’s are a great way to get a message out, it’s a great way to vent, and it’s a great way to have fun. Blog’s are serious, funny, and very, very cool. There are even video blogs.

 How do you jump in?

Quickly and with a passion. I say this because if you are not passionate about something, you will not follow through. What you blog about will not be very interesting. So get some passion and have some fun. If you do not want to blog, then post comments on blogs. There are some very interesting pieces out there.

As we look forward to Thanksgiving, we should look back at what has transpired in our local real estate market. We have a lot to be thankful for.

This year sales of existing homes has been steady. As of today the number of sales is outpacing last year. Inventory levels are well below last years numbers.

Single Family Homes

• 350 Sales in 2008 vs. 366 Sales in 2009
• Median Sales price increased from $300,000 to $305,000
• 4.4% increase in the number of homes sold, 1.6% increase in price

Condominiums/Townhomes

• 76 Sales in 2008 vs. 68 Sales in 2009
• 10.5% drop in the number sales
• Median Sales price decreased from $227,000 to $222,500

The difference in condo price does reflect a lack of new construction in this segment as well as downward pressure on prices of existing condos. Construction of new homes sales has increased so far this year up 18.%, 44 new homes vs. 36 last year.

We have a lot to be thankful for. Our housing market is good, pricing is stable, and some new homes are being built. If you have a good home, and a roof over your head, please do something to help those that do not.

I would like to thank all the wonderful people I worked with this year.

Have a wonderful Thanksgiving.

The 2009 AHBA Parade of Homes was held the last weekend of September.  The weather was nice and the 100′s of people hit the streets to see the latest creations of the Anchorage Home Builders.  The total number of entries in this years Parade of Homes was 25.  These home were spread out across Anchorage and Eagle River.  They ranged in price from $199,000 to $1,800,000, and were situated in new subdivisions as well as older established areas that were being rehabilitated.

Last night was the awards banquet held in Builder’s Millwork showroom.  The group assembled included builders, bankers, tittle companies, Realtors and their spouses.  The night was entertaining and food was great, but the main reason we were all there was to see who walked away with the hardware.  It is a great honor to win a ”Golden Hammer’, showing that you are the best in your class (at least for this year).

I am very proud to tell you that two of the entries were located in Eagle River’s Premier Subdivision, Powder Ridge.  The Harmony Town-homes, built by the Peterson Group, and a single family home built on Ezi View Circle by Nolan Homes. 

In the single family homes priced from $300,000 to $500,000 the winner was “Nolan Homes”. The home on Ezi view won awards in the following categories:

• Best Exterior
• Best Design
• Best Interior
• Best Kitchen
• Overall Workmanship

And last but not least the home won the coveted

‘Golden Hammer Award’

This years Parade of Homes was a great success, and I am glad that we were able to participate in it.  I was able to meet many of you that came through the home and hopefully we will be able to work with you in the future.  There is still time to start a new home this year and current prices and interest rates are added incentives.  For information call or text me at 907-360-7471.

 

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