Pauline Hofseth

Thank you to the mystery donor who has made a donation of $7 million to our University of Alaska Anchorage campus. The University of Alaska is one of more than 12 colleges to benefit the mystery donor's generous gifts. In total, various colleges have received over $80 million dollars.

The requirement for receiving the funds is quite simple: "don't ask and don't tell. The donation stipulates that the University must not try to find the mystery donor and, for the few that know, they must never reveal the identity of the mystery person.

Approximately $6 million will be set aside for scholarships for University students, particularly for minority races and women, as requested by the mystery donor. The Seawolf Opportunities Scholarship fund will provide 50 students with full scholarships to the University of Alaska - Anchorage campus. The scholarships will be awarded to first generation college students in need of financial assistance. Additional funds will be awarded to qualifying students as an incentive for completing their Associate and Bachelor degrees.

Only $1 million dollars of this much appreciated gift will go towards the fall opening of the newly completed Conoco Phillips Integrated Science Building. There is no doubt that the kindness and generosity of our mystery donor will change lives for generations to come in Anchorage. It always amazes me when I think of what the power of one person can do to change the world.

Whoever you are, wherever you are...I want to express my personal thank you for your kindness and extreme generosity.

Pauline Hofseth, your Anchorage real estate resource guide

Spring brings thoughts of renewing our homes and gardens. Spring is also the time we celerate Earth Day. I was thinking of how Earth Day relates to Anchorage homeowners beyond recycling. I was also thinking about how green living is becoming increasingly important to the homeowners in terms of the resale value of their homes. These thoughts reminded me that the Federal government is offering to help homeowners go green while improving their homes with a tax credit. The American Reinvestment and Recovery Act is providing a tax credit of 30% ($1500 cap) for energy efficient home improvements.

Home Improvement Tax Credit Guidelines:

* The home improvements must be in operating condition or in use starting January 1 of this year and no later than December 31, 2010.
* The tax credit applies to the homeowner's prinicipal residence only.
* The tax credit applies to all qualifing improvements made, not to each improvement separately.
* A Manufacturer Certification Statement is required. You do not have to submit a copy. However, you must have a copy on file.
* A receipt for the qualifing home improvement must be kept as well.
* The tax credit will be applied to 2009 tax filings (Tax Form 5695).

Home Improvement Tax Credit Exceptions:

* Second homes and rental property are eligible for tax credits when geothermal heat pumps, small wind systems, solar water heaters or solar panels are installed.
* The Home improvement Tax Credit is available until 2016 for fuel cells, geothermal heat pumps, small wind systems, solar water heaters or solar panel systems.

Existing Home Qualifying Systems:

* Doors and Storm Doors - Not all ENERGY STAR doors will qualify.
* Windows, Storm Windows and/or Skylights - Not all ENERGY STAR labeled windows and skylights qualify for tax credit.
* Insulation
* Metal or Asphalt roofing
* Heating and Air systems - List of qualifying products: Consortium for Energy Efficiency product directory
* Energy efficient water heaters - ENERGY STAR criteria for water heaters. A ll gas tankless water heaters qualify.
* Bio-mass stoves for household heating or water heating
* Geothermal Heat Pumps
* Small Wind Systems
* Solar Systems (water heaters or panels)
* Fuel Cells

If you are planning to build your own home in the near future, there is a tax credit available to you as well.

* The tax credit is a no-cap 30% credit.
* The tax credit is available until 2016.
* The tax credit is limited to fuel cells, geothermal heat pumps, solar water heaters and small wind systems only.

For further details on how the tax credit works and what systems qualify, be sure to visit the Federal Tax Credits For Energy Efficiency website.

There are two benefits to the tax credit program. The first, of course, is the tax credit benefit you receive on your 2009 tax filing. The second is that your home improvement will stimulate our local Anchorage economy with the purchases you make. So, go ahead Anchorage...celebrate Earth Day this year with a tax credit!

Pauline Hofseth, Anchorage Real Estate

In spite of the economic downturn, Anchorage is still growing. The University Lake Springhill Suites Marriott Hotel is nearing completion, with a grand opening expected in August. The Springhill Suites are located in Midtown. The hotel will not target the normal tourist trade, but will instead look to serve those visiting the UAA and APU campuses, as well those in town for medical reasons.

The Springhill Suites features 159 rooms, many of which overlook the nearby lake or park and many have a view of the Chugach Mountains. In addition to the view, the suites include a coffeemaker, a microwave and a refrigerator. Hotel amenities include a free continental breakfast, a fitness room, a swimming pool and shuttle service to the airport, university and medical district.

Anchorage has added several new new high-rise office buildings to its landscape. Office space is at a premium in Anchorage real estate, so the new additions are much appreciated by local businesses. The Centerpoint West (eight-stories) is scheduled to open later this year. Over half of the space is already leased. The 14-story Augustine Center is scheduled for completion in 2010.

Pauline Hofseth, Anchorage Real Estate

Happy Saint Paddy's Day, everyone. And I am happy to report that Alaska credit unions and banks are strong and healthy. There seems to be alot of doom and gloom in the national headlines, so I am very happy to report some good news. A few weeks ago, I wrote in my blog, What to Do if You Are On the Downside, that Alaska's economy is very healthy compared to the lower 48. The Anchorage Daily News seems to back me up on this in its recent article regarding Alaska banks and credit union health.

The ADN reported that many of Alaska's credit unions and banks grew in local profits last year and are not in need of TARP funds. Three Alaska banks which did accept TARP monies were Alaska Pacific Bancshares, Key Bank and Wells Fargo. However, the banks that received TARP funds did not take the funds because they were in trouble. The Anchorage Daily News reported that one of the reasons Alaska banks and credit unions fared well was because of their common sense approach to lending - no risky loans. Although, Alaska and the Municipality of Anchorage has its issues, I think the common sense approach to life mirrors that of Alaskans in general, which has lead to our being one of the best economies in the nation.

Pauline Hofseth, Anchorage Real Estate

Read the full article:
HEALTHY ENVIRONMENT: More conservative policies help avoid outside crush

Anchorage has one of the best economies in the nation. The State of Alaska announced this week that the Alaskan job rate was up both in terms of new jobs and in the jobless rate. However, no matter how strong the economy may be in Anchorage, Alaska or the nation, if you find yourself on the downside of the economy, you need to take action.

Last week, the Obama administration unveiled the Homeowner Affordability and Stability Plan. The plan is two fold, offering both refinance and loan modification options. The purpose of the plan is to help homeowners prevent foreclosure. You do not have to be behind in payments in order to qualify. HUD's Hope For Homeowners program was also revised to give more options to homeowners.

If you see yourself on the downside of the economy, please contact your lender immediately. Here are links that may help you as an Anchorage homeowner:

Homeowner Affordability and Stability Plan: FinancialStability.gov (http://financialstability.gov)
HUD Hope For Homeowners: Basic Consumer Facts (http://www.hud.gov/hopeforhomeowners/consumerfactsheet.cfm)

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