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.
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.
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.
Christmas is just about here. One of the fun parts of the holiday season is seeing the joy in kids' faces as they rip into their presents to find the treasures buried beneath. The "treasures", however, have changed tremendously over the years. To share a history of the evolution of toys, the Anchorage Museum has transformed their atrium into a Wonderland of Toys in Anchorage. From now through January 8, 2012, the exhibit will showcase toys throughout the years, with some dating back to the 1800s.
Amongst the twinkling lights in the museum's atrium, attendees will view World War I toy soldiers, full-sized French dolls and carousel horses. Disneyland isn't the only place showing that it's a small world after all. The evergreen tree at the center of the Wonderland of Toys exhibit is decorated with over 100 dolls dressed in traditional costumes representing countries all around the world. You don't want to miss this incredible display with your family.
Come celebrate a fun family tradition in the Anchorage area by visiting the Wonderland of Toys at the Anchorage Museum. The exhibit is open every Tuesday through Saturday from 10am to 6pm and Sunday from 12pm to 5pm from now until January 8, 2012. All it costs is the price of a museum ticket. For museum members, admission is always free. For non-members, adults are $12 each, seniors, students and members of the military are $9, kids ages 3-12 are $7 and kids under the age of 3 are free (donations are always appreciated). However you choose to spend your time, I want to wish you a happy holiday season!
Anchorage was recently named as the 10th Best City in America to live according to online magazine Businessweek.com. Ranked #10 on the list of America's Best Places, Anchorage was recognized for its quality of life, educational access and low crime rates amongst other factors. This is the first time Businessweek.com has compiled its list of 50 Best Cities.
In its report, Businessweek.com specifically cited Anchorage for its amount of park acres per person as well as the best air quality of any other city on the list. At 6.4%, our unemployment rate is well below the 8.6% national average reported as of last month. Our low foreclosure rate (0.0053) has kept many Anchorage homeowners out of the mess the rest of the country has experienced in the real estate market over the last few years.
Businessweek.com took 50 of the largest cities in the United States and ranked them according to the following criteria (amongst others):
The most weight for ranking was placed on air quality, school performance, level of education of citizens and the amount of restaurants, bar, parks and museums available to residents. This study just puts in writing what most Anchorage citizens are already well aware of: Anchorage is one of the best cities in America to live. Let me know if you are interested in purchasing your own Anchorage home so you can enjoy all the benefits Anchorage has to offer for yourself.
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We were first time buyers and not sure of how to go about finding the home we wanted. Pauline helped us figure out what we wanted, found us a house, and got us things that we never would have though to ask for. She made buying a home fun and easy and very rewarding. We would recommend Pauline to ANYONE thinking about buying a home.
Michelle & Tom Bybee
Even though I was a first time home buyer, I knew exactly what I wanted, but I couldn’t find it. Pauline helped me find a builder for my plan, helped me work through the design phase with him and stuck with me all the way through closing. She made herself available to answer questions and always kept my interests first and foremost. I would highly recommend her to anyone.
Wendy Fagan
We bought our first home from Pauline. When we decided to sell our first home and move to a second home we called her. We thought we could sell our home by owner, but people kept driving by. After we asked Pauline to sell it, we got full price in a short time. On our new purchase, she showed us homes while we were hauling around newborn, 3 & 5 year olds. She ran paperwork to the mortgage company and even picked out paint for the painter. She always had a smile and I never once got the impression she would rather be doing anything else. She really has a knack for visualizing sketchy information and turning it into reality.
Sallee & Mike Baltierra
The greatest quality about Pauline is her personal integrity and she works harder than anyone else. Most importantly, she is thorough. She had the foresight to write in a 10 day extention on the sale of our home, just in case the new home wasn’t quite finished. It wasn’t. Without it we would have been on the cold street at Christmastime. Instead it was a smooth transition.
Luke and Yvonna Augenstein, “Happy clients
We especially appreciated Pauline’s patience and persistence as she searched for the home we wanted over a year and a half period of time. Of course we wanted it all: space, specific location and price. And she finally found it. At all times Pauline kept our interests in mind and never tried to “rush” a sale.
Betty Jean and Fred Olin
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