Anchorage, AK

Foreclosure Listings in Anchorage, Alaska People are hearing that now is a good time to buy a house, while prices are still low and interest rates are at historic lows. One of the questions that I've heard more frequently in the last couple of months is, "Are there any good Foreclosure Deals in Anchorage right now?"

People are looking for a GREAT DEAL, so I compiled a List of Foreclosed Properties in Anchorage, Alaska for the people who are curious to know what is out there in the market right now. I will be updating this Anchorage, AK Foreclosure List each week, so if you're in the market for a foreclosure, be sure to check back periodically.

In the Single Family Sector, there are currently 23 Foreclosures in Anchorage, Alaska with prices ranging from $125,000 to $751,900.

There are currently nine Multi-Family Foreclosure Properties in the Municipality of Anchorage. These range in price from $125,000 to $449,900.

There are currently ten condos that are in Foreclosure in Anchorage, Alaska. The prices of the foreclosed condos range from $85,000 to $222,000.

The city of Anchorage, Alaska consists of Anchorage (of course), Eagle River, Girdwood, and Chugiak.

Today, I thought I would update sellers on the Anchorage market conditions and share a few tips for sellers and for those thinking of placing their home on the market.

Market Conditions

* There are fewer homes on the market this year compared to 2008 (about 4.8%).
* Competition is still stiff with over 1,200 single-family homes (new construction and resale) and over 500 townhomes/condos for sale.
* Best selling price range is between $225,000 and $350,000 for single-family homes.
* Best selling price range is between $100,000 and $130,000 for townhomes/condos.
* Average days on market vary according to sales price.

Single-Family Residences:

o Under $180,000 - 120 days
o $180,000 - $200,000 - over 90 days but less than 120 days
o $200,000 to $225,000 - about 25 days on market
o $225,000 to $250,000 - near the 45 day mark
o $275,000 to $300,000 - near the 90 day mark
o $300,000 to $350,000 - about 135 day
o $400,000 to $750,000 - 180 - 210 days or more
o $750,000 and over - 365 days and as long as 2+ years

Townhomes/Condos

o $100,000 to $130,000 - 90 days
o $200,000 and $225,000 - 270 days (due to excess supply)
o $300,000 and over - 365 days and as long as 20 months

Seller Tips

* Price it right. If you want your property to sell within the average days on market timeline, you must price competitively.
* Price it right. Homes which are priced at true market value normally sell first.
* Homes which are in good condition and reasonably priced will sell before properties in poorer condition.
* Homes which show well inside and out,and are reasonably priced sell before competing properties in the same price range.
* Multiple offers are still a possiblity when the home is priced well.
* Expect buyers to ask for concessions.
* Be prepared to negotiate on pricing and/or terms when the offer is presented.
* If you are having a good number of showings but no offers, the home is most likely considered overpriced by buyers, who will continue to shop for a better value.
* If your home is not receiving any showings, then something is unappealing to buyers, whether it is price, condition or location.
* You cannot change your location. You may or may not be able to change the condition. However, you can definitely change your asking price to attract buyers.
* If your home is not selling, talk to your licensee about what corrections need to be made to draw more attention to your home.
* If you are placing your home on the market, look at the comparative sales in your neighborhood to determine competitive pricing.
* If you do not want to sell your home in a reasonable amount of time, test the market. However, statistically speaking, testing the market will not only lead to frustration. But, many times, testing the market will result in a selling price less than if the home had been competitively priced when first placed on the market.
* 95% of buyers begin their property search on the internet.
* Buyers who research properties on the internet are more informed regarding what they want from a home and what they are willing to pay.
* More buyers are researching homes on the internet. So, open houses are less effective than in past years.

Pauline Hofseth, your Anchorage real estate resource guide

Amid the gloom and doom of the real estate market of this day, with the average home price in America down by 32%, according to Luke Mullins, Moody's economy.com found the top ten housing markets for the next ten years.

According to Mullins, although there are booms and busts in the housing market, the housing outlook for the next ten years will show appreciation. If looked at in a long term perspective, housing will appreciate, although some places more than others. This is probably not good news for the house flippers out there, although I'm sure there are good steals to be had with the foreclosure situation that much of the United States is experiencing right now. Sidenote: Fortunately, Anchorage, Alaska's foreclosures accounts for less then 1% of the inventory. Contact a realtor to find Foreclosures in Anchorage Alaska.

Mark Zandi, chief economist at Moody's Economy.com, states, "In the long run--subtracting from the ups and downs of the business cycle-- house prices should grow at the rate of household income." To find homes in the Anchorage Alaska Area click here. Income growth is, of course, linked to the economic strength of an area. In Alaska the number of jobs in the last year has increased which is quite amazing during these turbulent times in our great country. The different industries in Alaska has helped to sustain and produce economic growth in Alaska. The different sectors in the Alaska economy include oil, natural gas, fish and seafood, minerals, sea travel, tourism, and the international airport. Anchorage is home to over 270,000 residents.

Here is a breakdown of The Top Ten Housing Markets for the Next Ten Years, these cities are predicted to experience of growth of 3.44% to 5.22% per year for the next ten years:

1. Bremerton and Silverdale, Washington 5.22%

2. Glens Falls, New York 4.71%

3. Fort Collins and Lovelands, Colorado 4.06%

4. Corvallis, Oregon 3.95%

5. Anchorage, Alaska 3.8%

6. Duluth, Minnesota 3.74%

7. Sandusky, Ohio 3.66%

8. Santa Fe, New Mexico 3.57%

9. Pittsfield, Massachusets 3.51%

10. Decatur, Illinois 3.44%

So if you enjoy being outside and want to experience the big, wild, life in Anchorage, Alaska, consider visiting us Alaskans. Our city, Anchorage, boasts wonderful eateries, a buzzing downtown, salmon fishing, halibut fishing one hour away, hunting is a short car ride south or north. Or come during the winter and go snowboarding, cross country skiing, or ice fishing. Anchorage, Alaska is a great place to raise your family!

In an attempt to jump start the economy, the Unitd States Congress passed a bill that was signed into law on February 17, 2009. The bill grants up to $8000 to qualifying first time home buyers. The bill does not supercede the $7,500 tax credit that was available in 2008. Anyone who bought a home in 2008 is eligible for the $7500 tax credit, which still has to be repaid in small increments.

The provision, which was intially introduced by Senator Johnny Isakson, a Republican from Georgia, started at a whopping $15,000. Woah, right? However, the initial provision was modified and that's what became the $8000 tax credit. I've gotten calls from people who bought a house last year asking if they would qualify for this new tax credit. The answer is no, the tax credit was effective the day it was enacted. According to Dietz, "...effective date of the... amendment is the date of enactment.... so if you've already completed a purchase, you would not be qualified for the new program."

Quick Facts:

1. Who is eligible for the tax credit? Anyone who has not owned a home in the last three years and is purchasing a home as their primary residence. Home purchase must take place after January 1, 2009 and before December 1, 2009.

2. How is the total amount of the tax credit determined? The tax credit is a percentage of the price of your home. It's 10% of the purchase price, up to $8000.

3. Are there income limits? Yes, as there are in most cases. For single taxpayers, the limit is $75,000. For married taxpayers filing a joint return, the limit is $150,000.

4. How is the tax credit different from the $7500 tax credit that was enacted in 2008? The tax credit of 2008 is an interest free loan that has to be repaid to the Government is small amounts.

5. How do I claim the tax credit? It's quite easy, you claim it on your income tax return. Be sure to mention the tax credit to your tax preparer, so you don't miss the chance to claim the $8000 tax credit of 2009.

6. What types of homes qualify for the tax credit? Any home that you use as your primary residence, e.g., condos, single-family homes, manuafactured homes....

For more info, refer to the IRS website. http://www.federalhousingtaxcredit.com/2009/home.html

If you live in the Anchorage, Alaska area and would like more information about the $8000 first time home buyer tax credit, contact me.

Anchorage, Alska Real Estate 907-720-4663

Anchorage Real Estate

The economy in Alaska is based upon many things. But let's not be foolish, we all know the main source of jobs in the great state of Alaska is oil based. We know that oil production and oil availability has declined by 50%. I am wondering what we as Alaskans are going to do to keep up w/ job losses when the oil industry goes away.....

If oil jobs dissapear, will alot of our population leave the state? This just made me think... what can we do in Alaska to make our state sustainable??? Let's sustain our future and jobs so that people can still make a living here. Let's sustain our economy!

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