Veterans or active duty military personnel can move to Alaska and immediately qualify for in-state tuition assistance. The tuition assistance program is being offered to military dependents as well. The previous requirement of two-year residency for tuition assistance has been eliminated for any active duty personnel, veteran or their family members for all university campuses in Alaska.
The in-state tuition assistance can be combined with the new Post-911 GI Bill (effective August 1). Veterans who take advantage of the offer from Alaska University and qualify for the new Post-911 GI Bill will find that their education is practically free. Funds can be applied to tuition, books and housing costs.
Any veteran, veteran's dependent (spouse or child) or active duty personnel may take advantage of the Alaska University tuition assistance. However, the Post-911 GI Bill funds are limited. Only the veteran or one of their dependents can receive funds for an undergraduate degree.
The tuition assistance being offered to veterans and their families can result in a big savings per semester. If your tuition for a semester at an Anchorage university is $6,000, you would save about $4,000 after the tuition assistance was applied.
Veterans, this may be the opportunity of a lifetime. You can move north to Alaska and live in one of the greatest states in the nation while saving a bundle on your education. There are 16 campuses in Alaska. My favorite, of course, is Anchorage.
University Virtual Tours:
* UA Anchorage
* UA Fairbanks
* UA Southeast (Juneau)
For Tuition Assistance Information:
University of Alaska Anchorage: www.uaa.alaska.edu/financialaid/veterans.cfm
University of Fairbank:http://www.uaf.edu/veterans/.
For GI Bill Information:
Post-911 GI Bill www.gibill.va.gov.
Our new Mayor, Daniel Sullivan, is asking you to participate in a survey on how to best balance the Anchorage budget. Mayor Sullivan is taking the time to step back to look at the city services for cost-effectiveness before making decisions on how to spend your tax dollar.
I know that we all have opinions about making Anchorage a better place to live, how the municipality can serve us better and how money should be spent. Many states and cities have found themselves out of money because they have tried to spend their way to prosperity. The only way to prosperity is through common sense budgeting and spending within that budget. Living through overspending and borrowing is an inevitable road to disaster.
Each and every one of us must prioritize the way we spend money, especially if you want to save for the future. Mayor Sullivan seems to recognize the fact that the municipality must do the same.
Please take the time to send your ideas for improvements and budget cuts. Let the Mayor and his administrators know what they can do to serve you better.
Anchorage Survey - if this link does not open the survey page, please go to the municipality website at: http://socsurvey.muni.org/.
Today, I thought I would update sellers on the Anchorage market conditions and share a few tips for sellers and for those thinking of placing their home on the market.
Market Conditions
* There are fewer homes on the market this year compared to 2008 (about 4.8%).
* Competition is still stiff with over 1,200 single-family homes (new construction and resale) and over 500 townhomes/condos for sale.
* Best selling price range is between $225,000 and $350,000 for single-family homes.
* Best selling price range is between $100,000 and $130,000 for townhomes/condos.
* Average days on market vary according to sales price.
Single-Family Residences:
o Under $180,000 - 120 days
o $180,000 - $200,000 - over 90 days but less than 120 days
o $200,000 to $225,000 - about 25 days on market
o $225,000 to $250,000 - near the 45 day mark
o $275,000 to $300,000 - near the 90 day mark
o $300,000 to $350,000 - about 135 day
o $400,000 to $750,000 - 180 - 210 days or more
o $750,000 and over - 365 days and as long as 2+ years
Townhomes/Condos
o $100,000 to $130,000 - 90 days
o $200,000 and $225,000 - 270 days (due to excess supply)
o $300,000 and over - 365 days and as long as 20 months
Seller Tips
* Price it right. If you want your property to sell within the average days on market timeline, you must price competitively.
* Price it right. Homes which are priced at true market value normally sell first.
* Homes which are in good condition and reasonably priced will sell before properties in poorer condition.
* Homes which show well inside and out,and are reasonably priced sell before competing properties in the same price range.
* Multiple offers are still a possiblity when the home is priced well.
* Expect buyers to ask for concessions.
* Be prepared to negotiate on pricing and/or terms when the offer is presented.
* If you are having a good number of showings but no offers, the home is most likely considered overpriced by buyers, who will continue to shop for a better value.
* If your home is not receiving any showings, then something is unappealing to buyers, whether it is price, condition or location.
* You cannot change your location. You may or may not be able to change the condition. However, you can definitely change your asking price to attract buyers.
* If your home is not selling, talk to your licensee about what corrections need to be made to draw more attention to your home.
* If you are placing your home on the market, look at the comparative sales in your neighborhood to determine competitive pricing.
* If you do not want to sell your home in a reasonable amount of time, test the market. However, statistically speaking, testing the market will not only lead to frustration. But, many times, testing the market will result in a selling price less than if the home had been competitively priced when first placed on the market.
* 95% of buyers begin their property search on the internet.
* Buyers who research properties on the internet are more informed regarding what they want from a home and what they are willing to pay.
* More buyers are researching homes on the internet. So, open houses are less effective than in past years.
The Alaskan portion of the Purple Heart Trail will be dedicated in a ceremony this Saturday (June 6, 2009) at 11 a.m. A ceremony will be held dedicating the portion of the Alaska Highway between Fairbanks and Delta Junction honoring those who have served their country and were awarded the Purple Heart Medal for their sacrifice. The ceremony will be held at the Delta Junction Visitor's Center.
Senator Johnny Ellis of Anchorage sponsored a bill to dedicate a portion of the Alaska Highway to the Alaska Legistature. The bill received a unanimous "yes"vote. As is fitting, Senator Ellis will be the keynote speaker at the dedication.
The date chosen for the dedication is quite significant, as it marks the 65th anniversary of D-Day. D-Day, the invasion of France on the Normandy Beach, was the beginning of the end of Word WarII conflict in Europe. June 6, 1944 saw many a brave serviceman earn a Purple Heart Medal with the sacrificing of their lives and blood.
The Vietnam Motorcycle Club will conduct a Fallen Warrior ceremony at the dedication to honor all those who have defended this country and paid the price with their lives.
The Military Order of the Purple Heart began working in 1992 to establish a nationwide trail as a tribute to the men and women who have served and given their all for our freedom. Since that time, 45 states have dedicated portions of their highways due to their efforts. I am very proud that our great State of Alaska is among them.
It is only proper and right that we dedicate a portion of our roadway to honor those who have paved the road to freedom and to keeping this country free with their bloodshed.
Freedom is never "free"!
Pauline Hofseth, your Anchorage real estate expert
In the past two weeks, interest rates began to inch up slightly. This week, RealtyTimes.com reports that today's interest rate fell back. The current interest rate is 4.75% for a 30-year mortgage and 4.5% for a 15-year fixed rate. That report led to today's blog. Depending on your current interest rate, it just may be time for you to consider a refinance. If your loan's interest rate is around 6.5%, a refinance is definitely something you should check into.
* A reduction from a 6.5% to the current 4.75% interest rate would result in a savings of over $200 a month.
If that statement made you perk up your virtual ears, then I would like to remind you about the Making Home Affordable Refinance program sponsored as part of the recovery plan.
* You do not have to be in a distressed situation to take advantage of the program.
Anchorage is one of the places in the nation that the Making Home Affordable program can be of real benefit since our housing has not suffered the steep decline in values that other areas in the lower 48 have experienced. Both Making Home Affordable program and FHA will refinance the loan balance for homeowners who owe more than the property's current value.
* The Making Home Affordable program will refinance your loan balance if it is no more than 105% of the value of the home.
* FHA will refinance your loan balance if the first mortgage is less than 97% of the homes current value.
If you have equity in your home and pay PMI (Private Mortgage Insurance - insurance lenders require if the home was financed with less than 20% down), the savings could be even greater.
* PMI may no longer be required.
Most homeowners can take advantage of the government refinance loan programs.
* Making Home Affordable Program applies to Fannie Mae and Freddie Mac loans.
* FHA also offers a refinance program.
If you have a first and second mortgage, a refinance could eliminate your second mortgage.
* Make only one mortgage payment and save thousands of dollars in interest.
Check out all your options on the type of refinance which will best meet your circumstances and goals before you make a decision.
* Making Home Affordable Program
* FHA Refinance (even if your current loan is financed through FHA)
* An FHA Streamline (current loan must be FHA loan)
* Conventional refinancing through a mortgage lender
Taking advantage of today's refinancing opportunities may be a wise decision, but it does depend on your personal circumstance, finances and goals. I do think it is to the Anchorage homeowner's advantage to check out the possibility of a refinance. When considering a refinance you need to look at your long time goals.
* A refinance is not free. There are fees and points to consider.
According to the various economists and mortgage lenders, interest rates are not expected to decline any lower than 4.5%. However, they are expected to increase as the housing market improves, loan applications increase and the economy recovers.
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Serving all your real estate needs in the entire Municipality of Anchorage including Anchorage, Eagle River, Chugiak, Peters Creek and Girdwood.
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My slogan, "Daring to Care," describes my business direction. Buying and/or selling a home is all about the seller or buyer. Since 77 percent of buyer's begin their search on-line, my diredction is web-centric.
Areas of Expertise:
Use this section to write about your specific area's of expertise. Do you specialize in first time buyers - listing high end homes - etc. Are there specific market area's that you specialize in? The more you write about your area's of expertise the more knowledgeable you'll sound to a potential buyer or seller.
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Do you have any good testimonials that clients have provided you in the past? Be sure to add them here.
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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