Eagle River, AK

We have finished the 1st quarter of 2009. How has it effected you? Did the press influence how you spend your income?

At a local level my first impression of the economy is that it is good. Do you agree? or Disagree?

In Eagle River Alaska the economy seems good, and the real estate numbers reflect that statement. The number of homes sold are up 15%. Our office was up 152% in the first two months of the year, and march was a plus month but not by as much. When I read the different publication, Alaska Journal of Commerce, the Petroleum News, and The Anchorage Daily News, I get a different sense.

There are good positive stories that show we are moving forward, but there are more spelling out the gloom. The best number I've seen is only a slight up tic in unemployment, and a drop in Foreclosures. The number of homes on the market is less than last year and the market time is staying pretty consistent. We have seen a slight drop in value in some price ranges and this is expect with some of the deflation we've seen.

The Stock Market is moving up and I am glad to say I have seen positive growth. As spring quickly approaches the out look is good. There will be good deals, and interest rates are at an all time low. The low interest rate are allowing home owners to lower their payments. The real estate market appears stable for now. A bright spot is the new construction segment. as inventory levels there is a small amount of renewed interest in building homes. Lot sales are up and there are several new homes under construction in Eagle River.

All in all I believe the the sky is not going to fall. We all have to work a little harder, spend our money more wisely, and save a little for the future.

I learned a great lesson while on vacation. You have to let go and not worry. Having said that, it is easier said than done. I spent a very relaxing two weeks on the Big Island of Hawaii. It was very relaxing and the Puna District south of Hilo is great. No T.V no radio. We stayed at a great home, just one block from the ocean. we walked the cliffs each day and watched the whales.

As all of you know real estate can be all consuming and trying to get away is very difficult. With the many ways of staying in touch, sometimes we can be too wired in.

I found myself checking e-mails on my phone and thinking about work a little too often. It is very hard to let go when your self employed. Of course there was several messages from clients that had to be returned(a lock box disappeared from the home).

I found a compromise, I would relax in the morning, drink my coffee, and then take a walk. It was when I took this morning walk that I received cell service. So I would walk the cliffs and check e-mail and phone messages. I would return calls that I needed to and then went about my day. Every once in a while I would get the random call, but I sent them back to others at homes as referrals. I would do another short walk in the evening and call it a night.

Being self employed has its advantages and its disadvantages. But I love it. I did learn one more thing. Two weeks off is not enough. Next time it will be a full month.

Mahalo,

Eric

Wow, it is cold today, but it is warming up. Started out at -26 degrees, yes that is 26 below ZERO. At 11 m it had warmed up, a nice -15, now it's up to -11 degrees. I love my I-phone, it keeps me in touch with the weather, as if I didn't realize that it was cold.

Oh, by the way it's 73 in Lahaina HI.

The great thing about the weather is it does help people decide whether or not to look at homes. We have seen several buyers in the past week and many of them have bought homes.

It may be cold but prices are great, interest rates are the lowest I have ever seen. The nuber of homes available is still good, but there are fewer every week. There will probably more homes available as we get to spring, however sellers will raise their price (they do it every spring). You will need to pick through the homes and try to figure out who really wants to sell.

Now is a great time, anyone subjecting themselves to showings when the temps are below zero is definitely serious.

If you would like to see a home, sell one your timeing could not be better.

Give me a call adn I will show you.

The new Eagle River Town Center has broken ground and construction has begun. The new town center will include a library, shops and city offices.

The Town Center has been designed to revitalize the area and bring city services to one location. The project is anticipated to bring new revitalized growth and economic strength to Eagle River.

The Eagle River Parks and Recreation service area contributed one million dollars to the project. Another million dollars for the project was granted by the Rasmuson Foundation. The State of Alaska 's legislature granted $1.9 million in funds. The citizens of Anchorage voted for a bond measure that will add another $500,000 in funds for the cost of the project. The total cost is expected to be $6.7 million at the time of completion.

The Eagle River Town Center will be a 43,000 square foot mall that will accommodate a police substation, emergency operations center, Eagle River Parks and Recreation, community meeting rooms and an expanded library. Other municipal services will also be housed there.

The Eagle River Town Center will also have a new 40,000 square foot health club. The building for the health club is currently owned by the Alaska Club, currently being renovated.

The Eagle River Town Center has been a community priority for many years. The community has worked hard to make this dream a reality. The City of Anchorage and the residents of Eagle River are happy that dreams do come true.

December has arrived in Alaska, the temperatures are going down. -8 degrees this morning and the current temperature has warmed up to 9 degrees. You would think this would discourage buyer, but no, several were here this morning ready to start the day.

We have seen several pending sales in recent days. This means agreed contracts. Our inventory levels are dropping as is expected this time of year. The good news is that there are less homes on the market now then at this time in each of the two previous years.

The selection for buyers is still good, but it is dwindling. Interest rate dropped to 5% this week. This means that the buyer can get a better payment than last month, or they can buy a little more home. Interest rates have dropped over 20% since earlier this year.

The weather may be cold out there but the market is warm in Eagle River, Alaska.

Call me today for more information.

Eric Bushnell- 907-360-7471