About Anchorage County, AK

10 Home Features Buyers Want

Home designers and builders speaking at the recent International Builders Show in Las Vegas say that buyers are seeking cost-effective features and rejecting things that don't have lasting value.

"It's all about family togetherness - casual living, entertaining and flexible spaces," says Carol Lavender, president of the Lavender Design Group in San Antonio.

Paul Cardis, CEO of Avid Ratings, which conducts an annual survey of buyer preferences, identified these must-haves in new homes:

1. Large kitchens with islands
2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows.
3. Home offices
4. Main-floor master suite
5. Outdoor living space
6. Ceiling fans
7. Soaking tub in the master suite and/or an oversize shower with a seating area
8. Stone and brick exteriors rather than stucco or vinyl
9. Community walking paths and playgrounds
10. Two-car garages, but three-car garages are even more desirable

Source: MarketWatch, Steve Kerch (01/30/2010)

FHA Relaxes Anti-Flipping Rule

Beginning Feb. 1, the Federal Housing Administration will provide mortgage insurance for some purchases in which the seller bought the property and held it for fewer than 90 days.

The agency is changing what is known as the "anti-flipping rule" to speed up sales of renovated homes in communities with too many bank-owned and foreclosed homes, says FHA Commissioner David H. Stevens.

Waiving the 90-day rule will encourage private investors to buy vacant properties, fix them up, and quickly sell them to buyers who will be eligible to buy them using FHA financing.

FHA's change "is going to be absolutely terrific" for first-time home buyers hoping to take advantage of the tax credit, says Bobby Taylor, an associate with Coldwell Banker Mountain West Real Estate in Salem, Ore.

Source: Washington Post (01/30/2010)

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

Selling Tips for Success in a Tough Market

When the housing market is less than kind to a seller and you have to sell, it is time to outsmart your competition. Of course you want the best possible price, but may have to sell in a hurry, especially if the mortgage has become a burden, or the moving day is marked on the calendar.

The key to success is to make your house the most attractive deal without giving away too much.

Here are suggestions how to make your home more attractive and sweeten the deal to generate extra interest in your home:

•· Price it right, don't be greedy. Your want to put your house IN the market, not ON the market. Your real estate agent will be your key ally in determining the price range in which your home will likely sell. Don't be greedy.

•· Use a knowledgeable, seasoned real estate professional. A veteran has already been through price wars, knows how to handle tough situations and stays calm when nerves are frayed and emotions run high. You will need that person to guide you to the finish line: signing the deed transfer at the title company.

•· Have your home inspected by a professional home inspector and heating system inspector (perhaps a pest and roof inspector, too) before listing the house - and then take care of health, life, and safety repairs. Buyers won't have excuses not to buy.

•· Stage your home - be critical about how the house might look to a prospective buyer. A professional stager can transform an empty or cluttered house into a welcoming home.

•· Don't move out before it sells - or if you have to - be sure the house is staged and a buyer can see and feel how nice a home this is. Not everyone has the ability to "imagine" what the house might look like when it is lived in.

•· Be willing to pay at least some of the closing costs for the buyer. A buyer may be able to handle the monthly mortgage payment, but is strapped for cash and may need your help. Help the buyer, and sell your house.

•· Give your agent copies of all improvements, inspections, or guarantees for items like a new roof, furnace, or hot water tank.

•· Ensure that your agent markets your home on at least eight to ten Internet sites, including Craig's List and Backpage.

•· Consider offering your agent a higher than the commonly paid fee. Don't ask your agent to cut the commission, you wouldn't think of asking your doctor or lawyer to do so. Your agent works hard and has expenses and only gets paid when the house sells. Consider offering a success bonus to your agent.

•· Keep your house in ready-to-show condition at all times. Do not require a 24-hour notice. You want to make showing your home as easy as possible. Don't lose a prospective buyer.

•· Focus on curb appeal and making a good first impression. You will not get a second chance.

•· Be open to negotiate on personal items like appliances, lawn mowers, snow blowers, and the like.

•· Take your first offer seriously, even if it is lower than what you expected or thought you were willing to accept. A second offer might not come along for a long time. Your seasoned agent will negotiate a contract that you can live with and that will get your house SOLD.

Now call your agent and get going today!

Achorage Police Say Kids Are Being Targeted For Abduction Attempt

There is a young man in Anchorage who is trying to abduct shool age children while they are making their way to school. So far, he has attempted three times to abduct girls between the ages of 10-11. According to ADN.com, he hit the girls, at different times and places, then offered them a ride to the hospital or home.

Fortunately, all three girls escaped and told an adult. The Anchorage Police Department (APD) is working hard to find this CREEP. REad more at ADN.com

When I get home, I know what I'll be talking to my kids about. Stranger=Danger, this sounds harsh but unfortunately, it's the reality that we have to live with today.

Suggestions for ensuring your kids get to school safely:

-If your child walks to school or the bus stop, Form a Walking Group with at least 5-10 kids. Teach the kids the dangers of talking or going w/ strangers and how to get scream for help if someone does approach them.

-Take turns walking the kids to and from school. Get a group of 5 parents together and form and take turns walking the kids to school.

-Make sure kids are wearing bright colored clothing and put a light reflector on their back packs/coats. It's still dark when the kids are making their way to school and this helps drivers keep clear of the children.

-Form a neighborhood watch group.

Any other suggestions?

New HUD Policy Created to Allow Quicker Foreclosure Re-sales!

Effective February 1, 2010 the Department of Housing and Urban Development (HUD) will relax FHA rules that prohibit insuring mortgages on homes that are owned by the seller for less than 90 days - a move that could help expedite the rehabilitation and resale of foreclosure properties.

In a housing market where tighter lending requirements have made FHA financing the only option for some buyers, this 90-day policy has (1) kept some homebuyers from being able to purchase affordable homes and (2) prevented the quick resale of foreclosed properties, which affects the ability of communities to stabilize and rebuild.

Research has shown that the buying, fixing, and reselling of foreclosed properties is often achieved in less than three months time.

The temporary waiver, which will expand access to FHA mortgage insurance to many, will be in effect for a period of one year, unless extended or withdrawn by the FHA. With this in mind, now may be an excellent time to contact clients who have recently purchased a foreclosed property and those who may be on the fence about purchasing a foreclosure as a short-term investment.

"FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties," said FHA Commissioner David H. Stevens. "This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity."

To ensure FHA borrowers are protected from inflated prices, the policy has certain restrictions, including:

• All transactions must be arms-length and there can be no identity of interest between the buyer and seller.
• If the sales price of the property is 20 percent or more above the seller's acquisition cost, the lender must meet specific conditions for the waiver to apply.
• The waiver is limited to forward mortgages, and cannot be used under the Home Equity Conversion Mortgage (HECM) purchase program.

You can read the full text of the waiver on HUD.gov.