By now, you may have heard about a lack of inventory in the real estate market or noticed it for yourself as you begin house-hunting in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, or the surrounding areas. Inventory has been trending on the lower side for months and while it may be frustrating for buyers, it has contributed to what’s called a “seller’s market.”
A seller’s market is one in which homeowners have the upper hand, which can lead to quicker and easier sales. For buyers, it likely means more competition for the house of your dreams in Alaska.
If you are a home seller this year in Alaska, mind the following ways you can prepare for a successful sale:
Inspect and disclose
As a homeowner, it is wise...
The two major costs associated with buying a home in Fairbanks, Eagle River, Anchorage, Palmer, Wasilla, North Pole, and the surrounding communities are the down payment and the monthly mortgage. However, there are a few others that buyers tend to overlook— causing both surprise and shock when the time comes to sign on the dotted line.
It is always wise to do your homework prior to house-hunting in Alaska to ensure that you understand each and every one of the costs involved.
Below are four hidden costs of buying a home and to avoid disappointment later, it is important to factor them into your budget before you find the one.
Alaskan home buyers can expect closing costs to span...
March has arrived and before we know it, the birds will be singing, the weather will start to warm up, and spring will be in full bloom. But before we can get there, there are a few tasks you will want to cross off of your Alaskan homeowner to-do list— cleaning your gutters, for instance.
Below are four tasks to add to your homeowner to-do list this month and you will be ready to enjoy the spring season ahead!
Clean your gutters
Debris has likely built up in your gutters over the past few months and if not tended to, it can cause a variety of problems both inside and outside of your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond. Take a weekend to clean out the gutters and flush water through to ensure the spouts are in proper working...
When shopping for a home in Alaska, there will be many factors to consider, making it easy to overlook others. For instance, if you're concerned with the number of bedrooms, you may be quick to pass over how long your commute might be in this new location (if you're not working at home these days, that is).
As your local Alaskan real estate experts, Madden Real Estate has included below five factors not to overlook in homes in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond:
Your commute time
As we mentioned above, if you're not working from home and are driving into work, it is important to take into account how long it will take you to get there each day from a new location. You may love the home itself, but if it's going to take you much longer to commute every day, you will want to weigh your...
If you're on the fence about buying a home in Fairbanks, Eagle River, Palmer, Wasilla, North Pole, or the surrounding areas, you might be surprised to know that what's been holding you back is a complete myth!
There are dozens of myths flying around the Alaska real estate market surrounding everything from necessary credit scores to the documents you need to qualify for a mortgage.
As your local Alaska real estate experts, we're debunking some of the most common Alaskan homebuying myths below so you can buy a home with confidence this year!
Myth: You need a perfect credit score
Many would-be homebuyers are held back from the process simply because they don't think...
If you've been thinking about selling your home in Alaska, 2021 is the perfect time to do so! Many buyers, both first-time and seasoned, are in the real estate market in droves, all searching for their dream home, but are being met with less inventory than there has been in the past.
Alaskan home sellers are in high demand, but you may be contemplating the best route to take— FSBO (For Sale by Owner) or work with a real estate agent? The perks of working with an experienced agent are numerous and if your motive for considering FSBO is simply to save money, you might like to think again!
Your agent will do the negotiating
Think of all of the parties involved in a home sale in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond, from the buyer and their agent...
We've shared recently about Why You Should be Optimistic About 2021 Real Estate and to continue on down that path of real estate positivity, we're now breaking down why the current market offers the best opportunity to sell in YEARS!
If you're a homeowner in Alaska, don't be too quick to write off this spring, given the global health situation, as a poor time to list your home. In fact, the local market conditions present a lucrative scenario for sellers!
Below are five reasons why now is the best time in years to sell your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole or the surrounding areas:
Home Buyer Demand is High
The pandemic may have slowed many things, but buyer demand is not one of them. Buyers are determined to upgrades...
As a home seller, it’s important to note that hiding flaws from buyers is simply not an option. If your Alaskan home is in need of repair, it’s better to remedy the problem entirely than to hatch a plan for a quick fix that could send buyers running for the door.
Fairbanks and Anchorage area home sellers will find their transaction runs much more smoothly if they fix the problem versus finding a way to cover it up for the time being.
If you’re planning to sell your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or the surrounding communities this year, you’ll want to take a look at the following five problems that can arise for homeowners and how to fix them.
Problem: Stained Ceiling
How to Fix: Instead...
We're just days away from the new year and we're all glad to put 2020 behind us! There will be much to look forward to in the coming months, and we are excited to report one of them is the real estate market!
As your local real estate experts in Alaska, we are including below three of the most important reasons we can be optimistic about real estate in 2021.
The economy will only improve
According to Tim Duy from the University of Oregon, “There is nothing fundamentally ‘broken’ in the economy that needs to heal…there was no obvious financial bubble driving excessive activity in any one economic sector when the pandemic hit…With Covid-19 cases surging again, it is understandably hard to look optimistically to the other side of this winter…Don’t let the near-term challenges distract from the economic stage being set for next...
Despite the current global health situation, Alaska real estate is still booming! In fact, during a time when you'll find yourself thinking you're one of few trekking through the snow to find the perfect Alaskan home, you might be surprised to know other buyers are out in high numbers doing the same thing.
This winter will be different in the local real estate market and assumptions you have about buying an Alaskan home in the winter could cost you.
Below we're sharing five common mistakes to avoid when buying a home during this time of year. After all, you don't want to lose out on your dream home just because you thought others were waiting until spring to buy!
Ending up in Holiday Debt
In order to remain in good standing to buy a home in Alaska...
Moving to a new home in Alaska can be a stressful process, no matter what time of year it is.
In fact, failing to do enough research before your move can cause even more problems that will dampen your excitement about your fresh, new start.
As your local real estate experts in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding communities, Madden Real Estate is sharing three common moving hassles that can throw a wrench into new homeowner plans for an easy transition.
Each of these can be avoided with enough planning and research, so you will want to begin long before Moving Day!
1. Not Researching the Moving Company
When you're choosing a moving company to help shuffle your belongings from home to home, it is important to do the background work. Gather recommendations from family and friends, or even your ...
Did you know selling your Alaskan home in the fall and winter can be just as lucrative as selling during the spring and summer? It's true! However, that is if your property is well prepared for the market!
There are many ways to improve your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, and North Pole before listing it for sale, including removing the following five items that have been known to turn buyers away!
Even if you have a few ladybugs taking up residence in your home's windowsills, it's best to remove them before buyers arrive. This is one of the easiest turn-offs for Alaskan buyers as it can give the impression that your home is not clean or well cared for.
No matter if it's stamps or holiday figurines, you'll want to keep...
Now that we're all spending more time at home, there have been plenty of hours to watch home improvement TV and real estate reality shows, contemplating how you can put your DIY skills to work.
But before you grab a paintbrush or do anything drastic, you'll want to know there are several DIY projects you can do to your Alaskan home that will actually pay off at resale.
Below are five home improvement projects Alaskan homeowners can do to improve their property's overall appeal to future homebuyers in Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond:
Makeover your cabinets
There is no doubt that kitchens and bathrooms often sell homes. One easy project you can do to makeover your kitchen is to refresh your cabinets. As long as the cabinets are in good shape, you can add a coat of paint or...
If you planned to sell your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla or North Pole this year, the state of the world may have made you hit the brakes.
You might be wondering if now is the right time to sell in Alaska, and while much of life may be uncertain right now, the real estate market is still thriving. Many people are now working, and schooling, from home and are more determined than ever to upgrade their homes.
Home buyers in Alaska may be looking for a specific set of improvements or amenities in properties this year and we're listing a few of them for you below to help you strike the right chord with those currently house hunting!
Alaska is a beautiful place to live and with many of us spending more time at home, a well-designed outdoor space...
When you first move into a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla or North Pole, you might be overwhelmed with home project ideas. From painting the house to renovating the kitchen, it's hard to prioritize what needs to be done and how to stay on budget.
If you've just moved into your Alaskan home or are in the process of house hunting and deciding which home to buy, below are a few tips to help you stay on task.
Take notes around the home
Any time you decide to take on a home project, you should plan out the process and assess the conditions of the space. For instance, what needs to be done versus what you'd like to get done first. Is the flooring damaged? Are the appliances not running their best? These may be prioritized ahead of simply changing out paint colors that you...
It may seem hard to believe, but bidding wars are back! Competition has increased in Alaska real estate even amidst the current economic and global health situation. More and more homebuyers continue to flood the real estate market, and prices continue to rise, thus contributing to more competition with offers.
According to the NAHB's Quarterly Housing Trends Report, "30% of active buyers reported getting outbid by another buyer in the second quarter of 2020, significantly higher than the comparable 18% share a year earlier."" Bidding wars have been reported as most common for bargain-priced homes where buyers are forced to compete with real estate investors.
So, how do you make sure you snag your Alaskan dream home and outbid other interested buyers? How can you be certain your offer stands out among the rest?
Below are five tips to ensure you gain...
For today's homebuyers in Alaska, there are many choices associated with local real estate. From when to buy or when to sell, which mortgage type is best and which Alaskan community to move into, there is also one other important question homebuyers must ask themselves— new construction or existing?
The prices can vary dramatically and while you may prioritize having a brand-new home over a lived-in property, it's important to consider the financial differences between the two.
New Construction Upgrades
When you visit a model home in an Alaskan community like Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole or beyond, it can be easy to feel attached to all of the modern features. However, each...
With mortgage rates still at historically low rates and home values rising, many Alaksan residents are currently contemplating a move— even in the midst of the current, and somewhat uncertain, economic climate. However, if you've been wondering, now is indeed the time to purchase a home with more storage space, more bedrooms, more overall square footage or even a home in a better neighborhood.
As your real estate agents in Fairbanks, Eagle River, Palmer, Wasilla, North Pole, and beyond, Madden Real Estate is happy to help you find your bigger, better dream home, but there are just a few factors to consider in your decision to move up.
The right mortgage
When moving up in ...
These are uncertain times for everyone, no matter where in the world you live— especially when it comes to real estate. There are Alaska real estate rumors floating around about whether it's a good time to buy or sell your home amid a pandemic, and many more, but many of them can be debunked!
As your local real estate experts in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond, we are setting the record straight about buying and selling Alaska homes during this time!
Myth: It's a bad time to sell your home
Many homeowners who decided to sell this year have since pulled their homes from the market, mainly due to the fear of showings and others entering their property during this public health event. However, right now, research shows that buyers actually outnumber sellers which means it's better to...
When you're shopping for a new Alaskan home, you'll want to research everything from the square footage to the property taxes to, perhaps the most important, the neighborhood. But when you're in such strange times as these where you might be sheltering in place, it's key to note you don't actually have to visit the area to do your due diligence.
There are several ways to research a neighborhood in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole right from your own home!
Browse local social media
Use the power of social media to research a potential neighborhood when shopping for homes in Alaska. You can use apps like NextDoor, Facebook, or even dig into geo-specific hashtags or locations on Instagram, for instance, to look for activity and posts in a certain area.
Use Google Maps