Foreclosure Listings in Anchorage, Alaska People are hearing that now is a good time to buy a house, while prices are still low and interest rates are at historic lows. One of the questions that I've heard more frequently in the last couple of months is, "Are there any good Foreclosure Deals in Anchorage right now?"
People are looking for a GREAT DEAL, so I compiled a List of Foreclosed Properties in Anchorage, Alaska for the people who are curious to know what is out there in the market right now. I will be updating this Anchorage, AK Foreclosure List each week, so if you're in the market for a foreclosure, be sure to check back periodically.
The city of Anchorage, Alaska consists of Anchorage (of course), Eagle River, Girdwood, and Chugiak.
Mortgage Applications have Decline by 6.3 percent in the past week according to the Mortgage Bankers Association weekly survey. The weekly index fell from 528.9 to 495.4 in one week. Although the index decreased by 6% the sheer number of mortgage loans have increased if compared with just one year ago. The number of mortgage loans is actually up by 16.1 percent compared to last year.
So what does this mean? The market is much more active than it was a year ago and one week with a decrease of 6% is not bad considering the 16 percent increase from one year ago. The drop in the past week is probably due to the decrease in refinancing applications. There was a big boom in the refinance sector for the past few months and that is slowing down so it is sure to reflect in the number of loan applications.
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The Municipality of Anchorage Property Tax Assessment of Real Property is not an indicator of the Market Value of Homes. First off, Alaska is a non-disclosure state, meaning that when someone buys or sells Real Property in Alaska, it is not required of them to report or disclose how much they purchased or sold that Real Estate for.
Secondly, the Municipality Tax Assessment is usually higher or lower than the Appraised value of the property in Anchorage, Alaska. In some counties or cities, the tax assessment is based off of the actual sales price of a home. It can be a 100% of the sales price or a percentage of the actual value, for example, 90% of the actual appraised value. This is not so in the Anchorage Municipality because, as I mentioned above, buyers don't have to disclose what they paid for their homes.
When selling or buying a home, FOCUS on the Home Appraisal since this is what mortgage lenders use when they write a loan for the mortgage. Do NOT focus on the assessment that the Municipality of Anchorage has on the property, because it is not the same as market value.
Appraisers mainly focus on these things when determing the value of a home:
An appraiser will take all of this information and use comparables in the area to make an educated analysis, which includes data, of how much a home is worth in the current Anchorage Real Estate Market.
Sellers: When trying to determine how much to sell your house for, you should request a free Comparative Market Analysis, also known as a Right Price Analysis. The analysis will show the market trends in the Municipality of Anchorage and all of the comparable Real Estate in your area. What the homes have sold for, the pended listings, and all the actives. Your Real Estate Professional will be able to determine a good price point after viewing your home and analyzing the Comparables in your Area. This service is usually provided FREE.
Some upgrades can add value to your home, although it's not always cost effective to do so. Meaning you may not fully recover the costs of the upgrades/remodel. However, these upgrades can help sell your home and shorten marketing time.
A special caution to homebuyers: Home buyers should not make an offer on a house based on the Municipality of Anchorage Property Tax assessed value of the home. You may think you are getting a great deal if you are negotiating a price that is less than the Anchorage Municipality Property Tax Records, but this is not so. Talk to your Real Estate Professional about the Real Property Market Value when making an offer to ensure that you get the best deal possible. If you are a first time home buyer, get more information about the First Time Home Bueyer Tax Credit.
Wow, the weather in Anchorage is cooling quickly! When I was at a showing on the Anchorage Hillside yesterday, my buyer mentioned how chilly and windy it felt compared to just a few days ago. This drastic change is not anything new to most Alaskans. I mean we can have rain one minute and sunshine the next minute.
With the oncoming coldness, I just wanted to remind my fellow Alaskans of what a beautiful summer we have had this year. It was a good one!
A report by Newsweek found that Anchorage, Alaska was THE Best Place to Start Over.
Statistics provided:
Companies planning to hire in next quarter: 28%
Best job prospects: Construction, Durable Goods Manufacturing, Nondurable Goods Manufacturing, Wholesale & Retail Trade, Information, Financial Activities, Professional & Business Services, Education & Health Services, Leisure & Hospitality, Other Services,
Government Population: 279,243
Average home price in January: $313,796
Unemployment rate: 8.1%
****Anchorage has been somewhat buffered from the recession, but it has been hit by low oil prices. The local economy benefits from the state's rich oil and natural gas supplies, tourism, and U.S. military presence. To find out more, Request a Free Relocation Packet Today.
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Helping people achieve their Real Estate Goals is what I do. Representing my clients and meeting their family's needs are the most important part of my business. Welcome HOME!
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