Eagle River, AK

Rent To Own! 50% rent credit! Remodeled 3 br / 2 ba home in gorgeous Eagle River, AK. The home has 1600 square feet and all the bedrooms are very large! The kitchen is beautiful and very large. There is an oversized 2 car garage and the home is heated with a very efficient gas furnace. The lot is over 1/5th of an acre and is beautifully landscaped. There are beautiful southern views of the Eagle River Valley and there is a very nice wrap around patio. Rent is $1700/mo and first months rent and money down required to move in. Please contact us at 406-250-9553 with any questions! Until next time....

Pete Olsen

Rent To Own Homes, LLC

www.50statesrent2own.com

www.activerain.com/blogs/peteolsen01

Taking a look back at last week, one would think that the market had gone crazy. 21 homes pended in the Eagle River and Chugiak areas. 6 went under contract in Chugiak, this is a 12 month high for one week.

Interest rates have fluxuated up and down but for the most part stayed in the low 5's for a 30 year fixed conventional loan.

There are changes around the corner and you do need to be aware of them. If you will be involved in a real estate transaction in the near future, pay attention. The mortgage lenders will be operating under new rules and the title companies will be enforcing them. Here is a short list of some of the changes.

Once you receive a good faith estimate on your new loan you will need to wait 7 days before you can close. This means that if you lock your interest rate you may need to wait 7 business days before you can close.

If the APR changes on your loan, example: some portion changes and it goes up by more the.125% then a new disclosure must be made. 7 more days.

Once the appraisal is in there will be a 3 day review period. However in some cases this may be waived, although highly unlikely.

This is just a small portion of the changes, and now more than ever you need great communication between all parties. The average contract closes in approximately 38 days. I suggest writing an offer with a 45 day time table. This will give you plenty of time and if everyone is ready early than close early.

If you have questions about these new rule please make a comment here or send an e-mail.

We finished another great weekend and now the weather has started to change. We have seen some much needed rain. But how does this effect the local market?

If it sunny everyday then buyers just want to have fun, they go fishing, hiking and explore this wonderful area. When the weather gets a little cold we see people start to worry about winter, BTW, school starts in one month.

This means that buyers are going to be seriously looking. Inventory levels, homes available for sale, are dropping. This is a good thing. Interest rates were down again today.

The recap for Eagle River is this, 8 homes pended, and there were 6 closing. several of these homes were in the $600,000+ range. The average home price pended in the last 30 days was $369,000. That is moving up from the first half of the year.

All in all the Eagle River real estate market is doing well, but then Eagle River has always done better than other areas. Eagle River is the place to live.

Here is a brief over view of the Eagle River Real Estate Market. In the last week we experienced some very nice weather, and the annual bear Paw festival was underway. What we saw was a slow down in sales as well as new listings on the market as people took time out to have fun.

The overall inventory levels fell slightly as fewer homes came on the market and nine homes closed successfully. there have been several pending properties this week and I see many Realtors out showing property.

The strongest sales activity has been under $350,000. However, I have seen several buyers looking at homes in the upper $400,000.

Interest rates continue to be steady, ranging from 4.75% for 15 year mortgage to 5.375% for a 30 year mortgage. Please contact Aaron Gray at Homestate Mortgage, (907) 689-6456, for more information on available rates and programs.

The Eagle River real estate market continues to hold steady. Please fill free to make comments, or call me at (907) 360-7471 with questions.