Three senators (Scott Brown from Massachusetts, Sherrod Brown from Ohio and our very own Lisa Murkowski from Alaska) have proposed a bill that will help shorten the time it takes to complete a short sale. This will help prevent more American homeowners, including those here in Anchorage, from losing their homes to foreclosure. In order to sell your Anchorage home in a short sale, you must reach an agreement with your lender where they allow you to sell your home for less than is owed. This happens when the homeowner is struggling to make their monthly mortgage payment, is facing the possibility of foreclosure and owes more on their home than it is worth, making it difficult to sell it via a traditional home sale.

Right now, an Anchorage short sale can take anywhere from four to nine months to complete. The bank has final say in whether to accept an offer on the Anchorage home in question or not. Sellers are finding that buyers get restless waiting for the transaction to move along and decide to walk away from the deal in frustration. This translates into more unnecessary foreclosures. The senators have proposed that a law (aka the Prompt Notification Short Sale Act) require lending institutions to respond in writing within 75 days of the buyer's initial written request or face financial penalties.

Studies have shown that buyers have no problem buying a home via short sale. They just want it to be done in a more manageable time frame. While foreclosures tend to bring down the home values of the neighborhoods they are located in, short sales do not have this impact. Previous;y proposed legislation required banks to respond within 45 days of the initial written buyer offer, but this never even made it to debate, presumably because this was considered much too short a time frame for lending institutions to conform to. The 75 day time frame seems much more reasonable.

This much is true: short sales are helpful to the Anchorage real estate market. They prevent homeowners from losing their property to foreclosure, the seller gets a good deal and the banks don't have to deal with the expense of having to get the property back and resell it to someone else. It's a win-win for everyone if this bill to shorten the short sale timeline can be passed. Let your congressman know how you feel about it today. And, thank you Senator Murkowski for looking out for all us Alaska homeowners.

Pauline Hofseth, your Anchorage real estate specialist

Anchorage, Alaska looks like it’s ready to pull through another long winter. But just in case the spring needs a little help to melt the winter frost, there is an incredibly hot event coming in to Egan Center in March! SPIN- Electronic Music Festival is coming March 10 and 11^th and promises to heat up Alaska with a whole new dimension of Light, Sound and Themed Stage Design.

If you haven’t heard about it yet, it is because festival organizers are carving out a place for Alaska on the world festival scene map! That doesn’t mean this year’s offering is less than amazing. Check this out: SPIN- Electronic Music Festival is bringing no less than three world class acts to Anchorage. Stonebridge, Matt Darey, and HyperCrush top the program! But wait until you hear about all of the others who fill out the festival ticket!

It’s a fantastic two-day event with 16 additional acts including: Alex and the Lion, Simplicate, Dig Sista, Pranxter and Myndgruv, D.Allen, Knowmatic Noize, Jacob Mattie and Dammbro. And these are just a few of the DJ’s who will keep the crowd moving to the best music to hit Anchorage in this millennium!

Still not convinced? What if you add even more talent to the mix? Clint Samples, Clever Disguise, Roomba, Sam Gray, 9 Lives, Nyarl, Kid Simbah and Lmnt Ox will also be there to make sure you’ve never experienced anything like SPIN- Electronic Music Festival. No matter how you look at it, SPIN- Electronic Music Festival is going to rock Alaska!

If you love music, you will want to be at Eagan Center in Anchorage on March 10 and 11. Be a part of Anchorage music history! Get your tickets in advance and be a part of this sell out event of the year!

SPIN- Electronic Music Festival: hot enough to melt Alaska!

For excellent resources on all events, activities and things to do in Anchorage visit Alaskahomesearch.com and the Reed Moore Group. They know Anchorage real estate and the surrounding communities.

Beginning this Thursday, February 9th and continuing on through the weekend until Sunday, February 12th, 2012, the Dena'ina Civic and Convention Center will be hosting the Anchors Aweigh Boat Show in Anchorage. The Alaska Marine Dealers Association and the Coast Guard are just a few of the organizations that will be on hand offering safety and education classes throughout the event. Several financial institutions will also be available to discuss payment options for buying your very own boat through one of the many specials going on at the boat show.

I know how long the winters here in Anchorage can be. So, it's nice to be able to stretch your legs somewhere other than inside your house. Head to the civic center this weekend to get the latest and greatest information on the boating industry so you're ready to head out on the water come summertime. Lead times vary from vendor to vendor and stock can be limited. So you need to start planning for summer now. Park at the Anchorage Athletic Club (9th & Gambell parking lot) to take advantage of one of the free shuttles to the show. Admission for adults (ages 12+) is just $8 per day or $10 for a multi-day pass. Kids admission is free (ages 11 and under). Families of five or more can get in for $20 total.

The Anchors Aweigh Boat Show in Anchorage is open from 10am to 8pm Thursday through Saturday and 10am to 5pm on Sunday. Seminars will be offered on Friday, Saturday and Sunday. The schedule of classes are as follows:

FRIDAY
12pm - Boating in Salt Water
2pm - Sailing
4pm - Boating in Fresh Water

SATURDAY
11am - Cedar Strip Canoe Building
12:30pm - Boating in Salt Water
2pm - Inflatable Repair
3:30pm - Boating in Fresh Water
5pm - Coast Guard Auxiliary

SUNDAY
11am - Sailing
12:30pm - Jet Coat Repair
2pm - Boating in Fresh Water
3:30pm - Boating in Salt Water

Get out of the house, learn a few things about boat safety and maybe even get a deal on your very own boat for summertime fun by attending the Anchors Aweigh Boat Show in Anchorage this weekend (February 9-12, 2012). Boating is one way to soak up some of the natural Alaskan beauty we sometimes take for granted.

Pauline Hofseth, your Anchorage real estate specialist

Peters Creek Alaska - Homes, Real Estate, Lifestyle

Peters Creek (Chugiak), Alaska is an unincorporated area located about 20 miles northeast of Anchorage. Its 8300 residents enjoy the close proximity to town, but even more, the great outdoor activities that abound. The original name of the area, “Chugiak” means “place of many places” in the original Dena’ina language. Settled in the 1950’s by homesteading World War II veterans, today, housing in the area is rapidly expanding.

That’s not surprising, because those who live in the Peters Creek area can live the rural life while still enjoying wonderful restaurants, great schools first class hospitals, shopping at area malls and nearby access to the Anchorage Rail Station and airports. Add it all up and Peters Creek has something for everyone.

In addition to the great outdoor activities, you can do some pretty unique things in the Peters Creek area. If you tire of watching the local wildlife, including bears, deer and elk, you can catch a flight out of Merrill Field, Anchorage’s private airport and soar over Chugach State Park or on a night flight, catch the Auroras from high above the Matanuska-Susitna Valley. It will be a memory to cherish for a lifetime.

If you live in Peter’s Creek, you’re bound to enjoy something out of the ordinary, so why not take a mid-winter trip to ride the waves at H20asis, an indoor waterpark in Anchorage. What better way could you beat the cold weather blues?

Need more? How about golfing in January? The Tanglewood Gold Dome features an indoor driving range, complete with pros who offer lessons. Not your style? The Sportsdome has batting cages, soccer fields and a 400 meter running track.

By now, you probably understand that living in the Peters Creek area of Alaska is a step above ordinary living. It’s Alaska at its best and it is waiting for you! What are you waiting for? Check out AlaskaHomeSearch.com for more on Peters Creek and the homes in the area.