Homebuyers today are faced with the age-old question in real estate, "To buy or to rent?" As you look closer at the costs of renting, you will quickly notice that the prospect of buying a home in Alaska is much more lucrative, especially when it comes to long-term wealth.
Homeownership offers a better way to produce wealth and helps boost your net worth, unlike renting. If you are considering purchasing a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, or the surrounding areas this year, below are four reasons why you're making one of the wisest financial decisions to date:
You are paying your own mortgage
Each month you have a housing cost, but the question is whose housing cost are you paying? When you ...
If you've been considering buying a larger or more luxurious home in Alaska, now is the time to start taking those next steps! Buyer demand is high, which means you could be competing with others for a property, however, with home prices and mortgage rates expected to increase, you won't want to wait any longer.
As your Alaskan real estate experts, Madden Real Estate is here to help you through your next home purchase in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, and the surrounding communities— and that means making sure you are an informed buyer, especially when upsizing.
Below are three things you should know about moving up to a new home this year:
Note what you want vs. what you need
When it comes to ...
Fall is nearly here! But before the leaves begin to drop from the trees and we finally turn down the AC, there are a few tasks to tackle around your Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, and North Pole area homes. From cleaning the gutters to turning off the water to the garden hose, Madden Real Estate has compiled a list of fall home maintenance tasks to add to your to-do list.
Clean out the gutters
To make room for the leaves and debris that will fall into your Alaskan yard this fall, it's important to clean out your gutters now. While you're on the roof, you can also check for any damaged shingles that may have occurred over the summer and take the necessary steps to repair them.
Turn off outdoor water
You probably have your garden hose hooked up and have used it...
Becoming a homeowner in the Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, and North Pole areas is exciting, but the thought of paying on your mortgage for the next 30 years may be anything but that. Not to mention, there are many other expenses associated with your home purchase— the inspection, the down payment, the closing costs.
Alaskan homeowners can easily feel overwhelmed, but as your local real estate experts, Madden Real Estate is happy to provide a few ways to keep those expenses down and pay off your mortgage early!
Make an extra payment
One of the simplest ways to start paying down your mortgage is to make one extra payment each month. Most lenders today...
When it comes to buying a home in Alaska, you have many options laid in front of you— from the number of bedrooms and bathrooms, to the location, to your initial offer. However, one option you will want to avoid altogether is the decision to go it alone, without an Alaskan real estate agent on your side.
Purchasing a home may seem like something you can handle yourself, but after doing all of the research, you will find the process is best left to the pros.
Below are five reasons why you should never buy a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, or beyond without the help of a real estate agent:
They have the experience
You could be on the brink of purchasing your second, maybe even fifth, home, but keep in mind that real estate agents have...
If you are a current Alaskan homeowner or renter, now may be the time to consider if your living space is suitable for both your immediate and future needs. Given the high number of buyers in today’s market and rapidly rising home prices, local buyers should act sooner rather than later when it comes to selling your Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole home and moving on to make a purchase.
As your local Alaskan real estate experts, Madden Real Estate understands the importance of moving up (or down!) if it means your home will be better suited to your needs. How can you tell which is right for you this summer? We’re including a few of our best tips for you below!
If you’re not sure if you need to upsize or downsize ...
With the weather warming up, it seems obvious that buyers would be looking more closely at outdoor spaces when shopping for homes in Alaska. In fact, we even shared Outdoor Features Buyers Want This Year in a past blog post! That much is true— however, they may be even more specific when it comes to what they don’t want.
Buyers in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas have a wish list and as the market heats up, their outdoor wants will become more important.
Below are a few outdoor trends to avoid when selling your Alaskan home this season:
Geometric or straight layouts
It used to be a popular trend in outdoor design...
Buying a home in Alaska is undoubtedly one of the biggest purchases you will make in your lifetime. It's important to thoroughly research ahead of time, especially as you begin the mortgage process and working with an Alaskan lender.
However, finding a lender you trust can be a process in itself, not to mention remembering to ask the proper questions. Below we've included five great questions to ask Alaskan lenders this year as you prepare to buy a home in Fairbanks, Anchorage, Eagle River, Wasilla, Palmer, North Pole or the surrounding areas.
1. Is now a good time for me to buy?
A lender will look at your financial situation and determine if now is the best time for you to buy a home.
2. Which debts should...
Spring is a wonderful time of year in Alaska, but while it may be hard to believe, summer will be here before we know it! If you're planning to list your home when the weather is warm, there is one area that you may want to turn your focus to in order to boost buyer interest— the outdoors!
Late spring and summer are ideal for spending days outside in the yard, gathering on the patio or entertaining on the deck and homebuyers will be looking for Alaskan properties with outdoor spaces to offer. According to a new study, there are several outdoor trends that can help to sell your home this summer and Madden Real Estate is happy to share some of them with you below!
In past blog posts, we've shared how you can boost your curb appeal (including adding privacy!) in Fairbanks,...
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 options.
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?
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...
We're headed into the thick of summer and now is the time to ensure your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole or the surrounding areas has had a proper check-up.
Due to rising temperatures during these warmer months, you'll want to make sure your cooling system is in working order in addition to conducting an energy audit. Once these tasks have been completed at your Alaskan home, you can enjoy the rest of the summer with few problems in sight!
Start an Energy Audit
Not as difficult as it sounds! Simply pick up a notepad and walk around your home looking for places energy might be able to escape. It has been said that an Alaskan homeowner can save approximately 20% on heating and cooling bills just by plugging leaks, so take note of any...
Maybe you own an Alaskan home that's on the smaller side or you are getting a jump on your spring cleaning and organizing everything in sight, maybe you simply desire more storage options to hide your belongings— regardless of the reason, every homeowner could use a little more storage to keep things feeling neat and tidy.
With spring just around the corner and a little more time at home in our future, we've rounded up the following easy tips to add storage to your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas. These are the perfect way to spring forward into the new season ahead and feel like you have a fresh start!
The bedroom is the place where most homeowners desire storage. A place to hide closet overflow, books,...
As you're shopping for homes in Alaska, you're likely taking note of features like paint color, flooring, the number of bedrooms and bathrooms and even yard size. These are all essential in determining whether a property is for you, but there are also a few others that should ultimately raise red flags and cause you to move on to the next home in your search.
With decades of experience in helping buyers in Anchorage, Fairbanks, North Pole, Palmer, Wasilla, and the surrounding areas find their dream homes, I have included three deal breakers below to ensure you're not purchasing an Alaskan home that will be a source of stress later.
Cosmetic elements like paint colors and flooring can easily be changed, but altering the floor plan of a home may not be in the cards— and may be extremely costly....
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, Wasilla, North Pole and beyond...
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 furniture
The question on many Alaskan homeowner minds right now is whether or not to sell yet this winter or wait for better weather in the spring. It may be tempting to want to wait until the warmer months to list, after all more buyers will be out and about in the spring, right? Not so fast! That is not always the case!
There are many perks to selling your Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole area home this winter, without waiting until spring, and as your local experts, Madden Real Estate has listed a few of them below.
There will be more competition in spring
By listing your Alaskan home now, you avoid the wave of homeowners that will sell in the coming months. Not only...
Fall is here in Alaska and with the changing of the seasons comes a new opportunity to start fresh in a new home! Summer may indeed be one of the busiest times for real estate, but that doesn't mean your time to buy ends when the clock strikes fall.
Now is one of the best times to make a move to a new home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla and North Pole and we've included a reasons for you below:
Mortgage rates are rising
It is true that mortgage rate are still near record lows in Alaska, but they won't stay this way forever! 30-year mortgage rates have already increased half a percentage point and are expected to rise again over the next 12 months. In fact, by this time next year, rates are expected to be around 5.1%. Don't wait...
If you're just beginning the home buying process in Alaska, your first step will be getting pre-approved with a local lender. Next up? Finding your dream home and submitting a mortgage application to keep the purchase moving forward. However, many buyers find their application in the rejection pile due to factors they weren't aware of at the time.
As your local real estate experts, Madden Real Estate has provided below four reasons why your mortgage application may be rejected so you can be sure to avoid them:
You don't have enough credit
While poor credit can put you in a sticky situation with lenders, not enough credit can do just the same. It is essential to build your credit history over time to show lenders that you...