What You Need to Know About Buying, Selling Homes in Alaska in 2015
2014 seemed to be a series of ups and downs for the real estate market and now that we're into the new year, we've turned a corner. According to Time Magazine, 2015 will be a "drama-free zone" for housing. This year, the market will be back to fundamentals and both Alaskan homebuyers and home sellers can benefit.
Also contributing to a calmer, healthier real estate market is the growing economy, coupled with low mortgage rates."The 30-year fixed [rate mortgage] isn't likely to pass 5%," reported Time. "Bubbly gains in housing are [also] unlikely."
Although these are just two reasons the real estate market is returning to a healthy norm, conditions are indeed ideal for moving to a new home in Fairbanks, Anchorage, Eagle River, Palmer or North Pole. If you're thinking of buying a new home in Alaska or selling your current property, here's what you need to keep in mind:
For sellers, no more bidding wars
Pricing your home in Alaska is crucial to home seller success and Madden Real Estate can help you find the right listing price. Homebuyers are motivated now, but the chances of sparking a bidding war are less than they were over the past two years. Madden Real Estate can help you review comparable homes and attract the right buyers.
For buyers, don't wait for a better rate
Buying a home in Fairbanks, Anchorage during the winter will likely score you the best mortgage rate. The 30-year-fixed-rate mortgage will not reach 5% until later in the year. If you've been "waiting out" the market looking for the right time, these next few months could be just it!
For homeowners, update your home
If you're lucky enough to have a low mortgage rate, it may be a better idea to renovate your home than to move. If you haven't refinanced recently and have a mortgage rate higher than the current numbers, it can actually be the cheaper option. Madden Real Estate is here to help you determine if selling your home is right for you this year!
The Madden Real Estate team has years of experience helping buyers and sellers move on to the home of their dreams. Do not hesitate to contact us with any questions!
Decided to renovate your home this year or are you preparing the property to sell? Your Alaskan home's entrance is one great place to start! It's the first thing homebuyers see, it boosts curb appeal and it sets the tone for the home inside. Rethink your entrance in 2015 and start with the ideas below! Even painting and accessorizing can make a big difference.