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Eagle River, AK

Eagle River Alaska Market update

Eric  Bushnell: Real Estate Agent in Eagle River, AK

April is almost gone and May begins next week. Wow, were does the time go. The last day of school is just 4 weeks away and many families will be ready to move. This is the time of year that families like to move. So what is happening in the market?

It appears that there are shoppers out there, about 3 shoppers for every buyer. Lots of people wanting to buy a home but their afraid to won one. The buyers are active and we have seen many offers accepted here in Chugiak and Eagle River. In looking at the total market numbers compared to last year there was 4.5% less home sales in the first three months of 2011. That seems to be pretty good since last year we had the first time home buyers credit available. When we get to the end of June we will see what the true market numbers are.

Right now it apears that we are in a slower, but back to normal housing market. The economy as a whole appears to be doing ok. New businesses are opening and there is some new construction underway, housing and commercial. These are good signs for what is to come. The only discouraging sign is that many home owners are not selling. This may be either because they cannot because of what they owe, or they would have to spend too much to move up.

This has increased the number of new homes being built this year in Eagle River. Builders are optimistic about the housing market and are starting new homes. The construction lenders are still tight with the lending, so not all builders can move forward but many are. This is good for our community, which according to the latest census numbers is now 34,982 people strong. This number is about the same as the estimate from 2005, but very little building has happened in the last 6 years (I think the estimate was too high).

Now is a great time to sell if you can, and there are some great deals out there for buyers. Interest rates are low although lending conditions are tight.

Eagle River Alaska

12-16-10
Hope Russo
Hope Russo: Real Estate Agent in Eagle River, AK

With interest rates low and plenty of inventory it is a great time to purchase a home in Eagle River Alaska. Eagle River Alaska is just minutes from Anchorage which makes for an easy commute. It has the small town feel but with plenty of amenities. Many military families have made Eagle River Alaska their home with just being minutes from Fort. Richardson and Elmendorf Air Force Base now jointly known as JBER. If you would like to search for homes in Eagle River Alaska or other areas such as Chugiak, Anchorage, palmer or Wasilla just go to http://RussosRealEstate.com or http://GreatStateofAlaska.com

March Madness!

Eric  Bushnell: Real Estate Agent in Eagle River, AK
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March Madness is beginning and with it we eagerly look forward to spring. In other parts of the country you may already have spring but here in Alaska, spring comes a little later in the year. On Sunday we changed our clocks for the annual Spring forward, and this time of year this is a welcome change. When I arrive home from work the sun is up and bright, and the sun is up well past 8 pm.

Spring is coming, and the snow is melting!

We are definitely on our way to Spring. The temps are still a chilly 10-20 degrees at night; last Saturday morning the temp was -5. By afternoon the weather was cooperating and we were up to 29 degrees, a beautiful day. Plenty of time for outdoor activities.

As I ramble along about the weather it is important to realize that this increase in daylight and temperatures is what is needed to move the Real Estate Market forward. This coming weekend is the Annual Spring Preview of Homes. This annual showcase of new homes currently under construction by our local builders signals the start of the building season. the builders are excited this year and more new homes are currently under construction than last year at this time.

The national new homes starts were down in February by 5.4% over last year; that is mainly due to the extreme storms the lower 48 suffered through (I'm so sorry). Here in Alaska the winter has been mild and the frost is not too deep; so lets start building. Come out this weekend a see what new; I think you will learn something about your own home by just visiting a new construction site. You can see how homes are built; discover the mysteries inside the walls.

Local Market information

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The local real estate market has been steady through the winter months, but there have been less sales then in recent years. There are less homes available for sale; this is keeping the sales prices fairly stable. Chugiak and Eagle River currently have just over 140 homes available for sale, and 73 homes already in pending status.

These are good signs for home owners. Your homes value is not disappearing before your eyes. For those of you on your way out of Alaska, the timing for you is excellent. Now is a great time to have you home up for sale. Make sure you are realistic about the price you want for your home and you should be able to see it in a reasonable amount of time.

There appears to be movement in the Armed Services. We have seen many new Army families arriving at Fort Richardson and we anticipate many new Air Force families arriving in the coming months. Spring is the time of year we see the new faces arrive and old friends leaving. Hopefully they will be back someday.

Springtime in Alaska is coming and with it the sunshine and hope of a new day. Lucky for all of us here in Alaska, life is pretty good. Take few minutes, enjoy March Madness and then get outside and enjoy Alaska. By the way, while your out stop by Powder Ridge in eagle river and say hi, I will be there this weekend showcasing a new home by Nolan Homes. Its only about 60 days away from completion.

Day with the Dogs!

Eric  Bushnell: Real Estate Agent in Eagle River, AK

We woke up Sunday morning and the temperature was 2 degrees, 2. It was sunny and there was a lite breeze. Chilly would be an understatement. Today was the restart of the Iditarod in Willow. The start was scheduled for 2 pm. and by then it had warmed up to 14 degrees. It was nice and sunny as we made our way to Willow.

google map to real pro systems The start in Willow was easy to get to. This year they provided Shuttle bus service from several locations. $2 per person and kids were free. Not bad for a 20 mile bus trip.

We arrived in Willow with plenty of time to visit the staging area, this is were all the musher's were with their dogs before the race. Have you ever heard hundreds of sled dogs howling at once, Wow!

We wandered around and saw the sites. We saw Martin Buser and Lance Mackey being interviewed. Lance Mackey had a huge crowd and looked like the celebrity he has become. It helps to win three Iditarod races in a row.

We saw DeeDee Jonrow getting her dogs ready for the race, they each had pink harnesses. Mitch Seavey was there and his team looked very relaxed.

There was so much to see and there were thousands of peop[le there on the lake ready for the start. Yes being on the lake was safe. Ice is over 3 feet thick.

We made our way to the starting chute to watch the teams begin their 1000 mile journey to Nome. Many people had been out there for several hours waiting to see the first mushers go. Many people were from the lower 48 and you could tell they had no idea it would be so cold. It really wasn't that bad if you dressed for it. The lite wind made it a little cool. After a couple of teams started people started heading for the warmth of the Willow school.

google map to real pro systems

We watched as Newton Marshall came down the start chute, he is the first Jamaican to enter the Iditarod Sled Dog race. Pretty brave young man. Although what possessed him to leave the beach for the snow?

The crowd cheered and everyone had fun. there were good eats, we ventured over to the vendors and found Reindeer hot dogs and Buffalo Bratwursts w/ grilled onions. These were very good.

We had a great time, and then caught the bus back to Wasilla, to the original re-start. In the 80's & 90's the race left Wasilla and travelled down my grandmothers driveway to the lake before heading to Knik and then up the Yhetna River. Those were the good ole days sitting on the deck watching the teams go by.

We had just as much fun this year and will go back again next year.

Hope to see you there!

National FHA Change

Eric  Bushnell: Real Estate Agent in 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)

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