Anchorage, AK

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

When people ask “how is real estate in Anchorage doing?”. They are most commonly referring to, how are single-family home values in Anchorage and Eagle River?.

2011 was very similar to 2010. In 2011, Anchorage saw 4,429 active listings in the MLS, down just 1% from 2010. The number of properties sold actually increased by 3% to 2,307. Average sales price dropped slightly, down 2% at 322,626. The percent of list price that the homes actually sold for remain consistent at over 98%.

So what does that really mean? Basically the market for single-family homes in Anchorage and Eagle River has remained flat. Most home sellers are not upside down. And if you need to sell a home, you can expect to be able to accomplish it in a relatively short amount of time. Of course hiring a great real estate team of professional marketers, adapting a solid pricing strategy and making the home marketable are important to success.

If you're a buyer, there are good values to be found. But if your hope is that you will find a well-maintained home in a great area that will sell for significantly below list price. You are likely going to be disappointed. With the exception of a reasonable number of foreclosures, bank owned properties, fixer uppers and short sales, most sellers are able to achieve at or near their list price. What makes a good deal on a home phenomenal at this point is the rock-bottom interest rates. Most of the mortgage professionals that we work with do not expect to see any dramatic increases in rates in the near future, an election year.

Condominiums in Anchorage have felt a higher level of effect from the housing market shift then single-family homes. In 2011, there were 1697 active listings for condominiums in Anchorage and Eagle River down 15% from the preceding year. The number of condominiums sold was down 16% and the sold volume was down 12%. Average sales price was up 4% to $197,310 and sellers retained almost 99% of their final list price at sale. Condominium sellers are going to have to be aggressive in 2012 if they hope to sell for the top available dollar.

Market conditions vary substantially for different neighborhoods and price ranges. We produce a weekly report called the total market overview that we are happy to forward to anyone interested. Just send an e-mail to info@688King.com for the latest activities in your area and price range.

Want a current value report for your Alaska property? Go to : http://www.907688king.com/sell/

It's free, it's quick and it's easy.

Rob King

King & Associates

Keller Williams Realty Alaska Group

907-688-5464 office

907-351-9099 mobile

www.688king.com

If you love folk music, you're going to love the Anchorage Folk Festival. Beginning Thursday, January 19, 2012 and continuing through Sunday, January 29, 2012, musicians from around the world as well as our own state will be performing for the public all around the City of Anchorage. There will also be workshops given throughout the free 10 day event.

Several different acts will be performing on various days at the main stage (Wendy Williamson Auditorium, UAA campus, Lake Otis & 36th Ave, Anchorage). Performances will be held from 7pm to 9:30pm on January 19th and 20th, 12:30pm to 6pm and 7pm to 10:15pm on January 21st, 1pm to 5pm and 7pm to 10:30pm on January 22nd, 7pm to 10pm on January 27th, 12:45pm to 6pm and 7pm to 10:15pm on January 28th and 1pm to 5pm and 7pm to 10:30pm on January 29th. There will be a special Folk Night for all UAA students held on Thursday, January 26th from 9:15pm to 11pm. For a complete list of who will be performing and when, please visit the AFF website's mainstage page.

Everyone of all ages is welcome to attend any of the workshops that will be held during the Anchorage Folk Festival. Even kids under 8 years old are welcome as long as they have an accompanying supervising adult with them. Some of the workshops available include Music Theory: A Zen Approach, Improve Your Singing Voice, Fingerstyle Guitar, Swing Dance Lessons, Native American Flute, Fun With Ukeleles and even a Banjo Workshop. There is no need to call ahead to make a reservation or pay anything out of pocket. Simply show up and you'll be able to join in on the fun. You might even learn something. For a complete list of the Anchorage Folk Festival Workshops, please visit the AFF website's workshop schedule page.

The Anchorage Folk Festival is a great place to listen to true artists from all around the world perform amazing folk music. You can even learn a new skill at one of the workshops. The best part of all this is that it is absolutely FREE! You don't pay a dime for this great time! That's quite a bargain. So, bring the family and enjoy some great music.

Pauline Hofseth, your Anchorage real estate specialist