Eagle River, AK

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.

4 weeks into the new year and real estate sales in Eagle River Alaska are steady. There was an initial rush of new homes on the market just after the first of the year. Many of these homes had been previously listed and removed from the market during the holidays. So, after this initial rush, the flow of new inventory has continued at a slow pace. This good for sellers and buyers alike; the market remains stable.

The National association of Realtors came out with their latest number and the country saw a reduction in number of sales by 17% over last year at this same time. They were anticipating the number to be closer to 10%. This means that the housing recovery is going to take time. I think everyone realizes this, they just wish it would happen sooner.

In Alaska, we're seeing the same steady market that we've seen in recent years. I hear this quote just the other day "This market is an 'Opportunistic Market'; there are opportunities for buyer and sellers. This is so true. Values have remained steady on nice home, and homes that need work can be bought at a reduced price.

Here are the numbers for Eagle River* Alaska residential sales:

• 15 New Homes on the market
• 5 Homes pended under new contracts
• 5 homes Closed

There are currently 96 homes being marketed in Eagle River.

• 73 existing homes
• 0 New Construction Complete
• 11 Homes under Construction
• 12 Homes To Be Built (not started)

The number of homes available offers some great opportunities to buyers and for sellers that have very nice homes. The current homes range in price from $169,000 to $1,100,000.

To find out what your home is worth visit www.ValueMyAlaskanHome.com.

To receive a list of the latest homes on the market in South Central Alaska visit www.EagleRiverHomesforSale.com!

*This representation is based in whole, or part, on data supplied by, and to, the Subscribers of Alaska MLS. Alaska MLS does not guarantee, nor is it in any way responsible for, its accuracy. Data maintained by Alaska MLS is for its own use and may not reflect all real estate activity in the market.

Here we go!

Wednesday, January 13, 2010 by Eric Bushnell

Today is January 13, 2010. Wow, we are two weeks into the new year and picking up speed. The holiday season lulled everyone into a nice happy place, and now it's time to get back to work.

If you are watching the market than you know that every talking head has an opinion and very few of them are the same. Now I going to chime in. Just what we need right? Another talking head. I will try to keep to what I know and what I see happening in the local real estate market.

The number of homes bottomed out in recent weeks. The lowest level of homes available for sale this decade. That is beginning to change, the number of homes increase by 50% last week. 23 new listings, now some of these had been on the market before the holidays and were taken off the market. Now their back and ready for sale, and that is good news because with the number of new pending transactions; the supply dropped to just 2.4 months.

There is a enthusiasm in the market, interest rates are low, prices have been steady. This is a win-win for buyers and sellers. Buyers there are more homes coming on the market, although they're selling quickly. For Sellers, if you're ready to sell, there are buyers in the market looking for good homes.

Buyers can see receive e-mails updates by registering at www.eagleriverhomesforsale.com

Sellers can receive a free CMA and marketing plan by visiting www.valuemyalaskanhome.com

"Steady as she goes"

We've heard this many times. Keep a steady but consistent pace. Doesn't sound real sexy but it is the 'Cure for what ails you". A steady real estate market is a wonderful thing.

Homes are selling each week. We get few new listings. The inventory does not go up, although we could use a little more to keep the buyers happy. The nation housing news came out today and it was positive across the country. There are some expectations that the next couple of months will be slower.

Not here in Eagle River. We are forecasting more people moving to the area. As rentals become scarce many families will look at new homes. This will fuel the construction industry and we should see new homes starts increase this year.

Here are the numbers for the week of December 14Th-20Th:

• 7 new homes were listed for sale
• 5 homes went into contract (pending)
• 3 homes closed

The current number of homes available in Eagle River:

• 56 single Family homes
• 12 homes under construction
• 11 homes scheduled to be built (not started)
• 25 Condo/Townhomes
• 6 Condo/Townhomes under construction

The real estate market in Eagle River continues to be steady. Just the way we like it.