As you may have heard by now, the real estate market's supply of homes for sale is trending lower than it has been in past years. But does that mean you should shy away from listing your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, or the surrounding areas this fall? Absolutely not!
The real estate market could use your home and if you've been thinking about selling, below are the top tips for a successful sale during this time of year:
Clean up the yard
This time of year, the leaves have started to change and fall and may be cluttering up your yard. Take the time to rake all of the debris currently in your yard to make a nice...
While you are shopping for a home in Alaska this year, your friends and family will likely offer all kinds of tips and advice relating to the purchase— things they learned from their experience with home buying or information they've heard about the current Alaska real estate market.
But that doesn't mean you should follow every tip they give you; in fact, it is always best to consult your real estate agent with any questions you have.
As your local real estate experts in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond, Madden Real Estate has included four pieces of home buying advice NOT to follow this year to help steer you in the right direction and avoid any regrets later:
Fall can still be a busy homebuying season for those in Alaska and with more sellers confident in listing their Alaskan homes, it's important to keep the real estate rules of the road in mind. Below are just a few real estate rules to remember, like using an experienced real estate agent, that should help you in your home search or sale this fall:
Don't Make an Offer Without Pre-Approval
Know what you can afford. This all starts with a pre-approval, meaning a lender has vetted your credit and financials and is willing to continue with the mortgage process. A pre-approval letter will tell the real estate agent and home seller how much you can afford in a home and the confidence that you are...
With mortgage rates still hovering around historically low rates and home values rising, many Alaska homeowners are currently contemplating a move. 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 experts in Fairbanks, Anchorage, 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 Alaska, the type of mortgage you obtain is crucial. An adjustable-rate mortgage may be for you if you're not planning on being in the home for an extended amount of time. ...
It is a major step to sell your home in Alaska and one that brings many important decisions along with it. Homeowners in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole and beyond will need to tackle choosing when to list, staging and of course, pricing.
Pricing your home is a delicate process and it should be done right from the beginning. With our decades of real estate experience at Madden Real Estate, you can be assured we will arrive at the best price for your property and the area, but as a home seller, it is always wise to do the extra homework.
As you think over the pricing aspect of selling your Alaskan home, here are a few things to keep in mind:
The listing price is key
It's a busy season here in Alaska! In addition to summer vacations and fun in the sun, Alaskan homeowners will also be scheduling moves into the mix. This time of year, there is more time to pack, more time to scout where you'd like to live, more time to house hunt, more time to ensure you're getting the best possible deal and of course, more time to get your own home ready to sell.
Preparing your home to sell in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas is equally as important as where you're going next. Before you list your property this summer, consider tackling these 5 important tasks that can really make an impact on local Alaskan homebuyers:
Clean out the drains
For homebuyers in Alaska this summer, saving for the down payment is one of the biggest hurdles in front of the finish line. In the past, we've shared how to start saving for the down payment, but you might be wondering where to keep the money.
Below are four options for risk-free accounts in which you can keep your down payment. You may sacrifice return, but you can be assured the money will be there when you need it to purchase your home in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, or the surrounding areas!
Online savings account
Compare online rates to determine which online savings account is best, but this may be the easiest option for moving around funds. You can track the money easily via online banking and set up transfers in a snap. You also don't need to worry about the bank not being open when you need to pull your down...
With the rising costs of rent in Alaska, it is no longer a smart financial decision for area residents to choose renting over buying. Not to mention, mortgage rates are still historically low!
However, if this is your first time purchasing a home in Alaska, you need to be ready to assume the responsibility of homeownership. Here are four questions to ask yourself to determine if now is the right time for you to buy:
Can you afford the costs?
If you have been saving for a downpayment and other costs over the past few years, you'll be in great shape this summer. You should have enough to cover 20% of the home's purchase price to secure the best mortgage rate and avoid private mortgage insurance (PMI).
It is also wise to be prepared to pay closing costs which can typically range from 2 to 5% of the home's purchase price.
House-hunting can be a lot of fun for new buyers in the Alaska real estate market, but your judgement can also quickly get away from you. It is easy to focus more on features of the home rather than costs like upkeep and utilities and buyer's remorse can set in after you've signed on the dotted line.
But as your local real estate experts in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, North Pole and beyond, it is our priority to ensure buyer's remorse never crosses your mind! Madden Real Estate will work with you to determine your wants versus needs as well as what is realistic for you in terms of price and home size.
In the meantime, keep in mind the following four common sources of homebuyer's remorse, especially as you tour available properties in Anchorage, Chugiak, Fairbanks, Eagle River, Palmer,...
When it comes to buying a home in Alaska, you would be surprised by the number of potential buyers that sit back because they do not think they will qualify for a mortgage. However, the reality is that qualifying for a mortgage is simpler than you think and as a result, you are missing out on the many benefits of homeownership!
If you're sick of renting, given the increasing costs each year, and are ready to settle into a place of your own, now is the time! Don't allow yourself to put off homeownership any longer, just research the facts. Consider the following your checklist of what it takes to qualify for a mortgage:
1. A Down Payment
Did you know nearly half of all ...
While we are only days into the new season, this spring is already projected as a stand-out period for first-time buyers to enter the real estate market. Mortgage rates are still historically low, home prices are rising in addition to rents and first-timers are ready to invest into something of their very own in Alaska.
But when you are new to purchasing a home, you can overlook the many ways you can potentially save money in the process. Keep the following in mind as you house hunt this spring and as always, do not hesitate to reach out to our experts at Madden Real Estate with any questions!
Look past cosmetic issues
Many first-time buyers in ...
So, you think you want to buy a fixer upper home in Alaska? While your dreams of renovating a property may be driven by what you've seen on real estate or home improvement television shows, it's important to remember that the reality of updating a home from start to finish can be much more time-consuming, tedious, expensive, and drawn-out than you realize.
As your local real estate experts in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond, I am sharing below three things to do before you commit to buying fixer upper homes in Alaska this year:
Research the location
Not only should you research the location of a home before purchasing, but also look into the zoning. What you may not know is that every community has zoning districts and restrictions surrounding what can and cannot be done to homes within their limits. You will...
Spring is almost here! And if you've decided to list your Alaskan home, it may seem like your to-do list grows longer and longer. You will need to start searching for a new home, clearing the clutter and packing up to make your move easier when the time comes. But it doesn't end there! One more added stress for you may be keeping your home buyer ready for showings.
There are dozens of little tasks you can check off to prepare your home for a showing in minutes and as your local Alaska real estate experts, Madden Real Estate is sharing a few with you below!
Mop or vacuum
Complete a quick cleaning of the floors in your entryway, kitchen and bathrooms. If necessary, spot clean debris on the floor with a sponge or towel.
Dust screens and...
We just shared Why You Shouldn't Wait Until Spring to Sell Your Alaskan Home, but now we're taking it a step further and sharing a few things you need to cross off of your homeowner to-do list before you officially list your property.
Remember that you will want to have your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole in tip-top shape to outshine the others on the market and as your local real estate experts in Alaska, we are sharing a few tasks below to help you do just that!
Clean the gutters
Once the warm temperatures begin to set in, we're all eager to get outside again— but you're probably not in a hurry to venture up to the...
Whether you intend to be in your next home in Alaska for two years or twelve years, it is always important to determine resale value. After all, your home is an investment and you wouldn't want to invest in a property that you would have a hard time selling when the time comes to move on. That would only mean more money and homeowner headache for you down the road!
As your local real estate experts in Fairbanks, Anchorage, Eagle River, Wasilla, Palmer, North Pole, and beyond, Madden Real Estate can help you determine the best possible property for your budget and your family's needs— and one with great resale value! Here are a few ways you can determine a property's resale value in Fairbanks, Anchorage, Eagle River, Wasilla, Palmer, North Pole and the surrounding communities:...
We recently shared How to Stage Your Alaskan Home During the Winter and this week we're taking it one step further with what exactly you should avoid when setting the scene in your Fairbanks or Anchorage home for buyers. Remember, staging can go a long way as staged properties oftentimes sell quicker and for more money than those that skip this step. However, that is only if you do it correctly.
As your local real estate experts in Alaska, you can count on Madden Real Estate to walk you through every step of the home selling process— including staging. Below are five things to avoid when ...
There's no doubt about it, winter has arrived here in Alaska! But if you have your sights set on a new home in Anchorage, Fairbanks, Eagle River, Wasilla, Palmer, or North Pole for the new year, don't let that stop you from listing your property now! There are plenty of ways to pique buyer interests during these colder months and with Madden Real Estate on your side, you can count on us to help you make it happen!
Home staging is one smart way to grab a buyer's attention and below are five ways to stage your Alaskan home successfully during the winter:
Boost winter curb appeal
Adding winter decor to the exterior of your Anchorage or Fairbanks home can boost your property's curb appeal, but it should lean on the simple side. Try a holiday wreath or fresh greenery outdoors, make sure all pathways are clear of snow for buyers, and consider adding classic white...
As I mentioned in our recent blog post, selling your home during the holidays in Alaska can be just as successful as selling during the spring and summer! But that doesn't mean you can simply add a For Sale sign to your yard and watch the offers roll in! Your Alaskan home must be well prepared for the market and up to par with what buyers want.
As your local real estate experts, Madden Real Estate can help you avoid turning away buyers unintentionally and that begins with removing a few of the following common items from your home:
Damage from pets
Remember that not all buyers will love pets like you do! If you have pet damage in your Alaskan home, like scratched floors or stained carpet, consider having them re-finished or install new carpet prior to listing.
Even if you just...
Many Alaska homeowners are left wondering whether or not they should sell their properties once the busy spring and summer seasons are over. While it may seem like the end of the year isn't the best for sellers, the short answer is yes! Today's homebuyers are constantly searching for homes on their smartphones, computers, and even have set up email alerts when a new Fairbanks, Anchorage, Eagle River, Palmer, North Pole, or Wasilla home becomes available and meets their requirements.
Don't be afraid to list your Alaska home during the holidays! It is still an opportune time to sell and as your local experts, Madden Real Estate has included a few tips below on achieving a successful sale!
Boost your online appeal
When you work with Madden Real Estate, you...
If you're not fully prepared to navigate the Alaskan real estate market, it can be overwhelming— especially if you're a first-time homebuyer. It helps to know the facts from the beginning of your home search, as well as have a local real estate expert on your side, like our team at Madden Real Estate!
Below are four ways to start your home search in Fairbanks, Eagle River, Palmer, Wasilla, North Pole, or Anchorage:
This should always be your first step when shopping for homes in Alaska. Even if the market begins to slow down, you will be able to better understand your budget and whether or not your dream home is within your reach. Not to mention, this documentation tells sellers that you are serious about following...