Alaskan Real Estate Market

How to Get Ahead of the Fairbanks and Anchorage Spring Real Estate Market

While the holidays may have just ended, the spring real estate market will be here before we know it in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas. Soon a wave of potential buyers will take to searching for their perfect property as the weather starts to turn around. Not only do the warming temperatures play a role in getting buyers out and about to tour homes for sale, but lower inventory just may give sellers an edge.

However, that doesn't always mean your Alaskan home is ready for buyers to step inside and prepare their offers. You may need to do a bit of prep work before you're officially in the game! Below are four ways to get ahead of the spring real estate market this year and make your home stand out from the rest in ...

5 Tips to Prepare Your Alaskan Home for Winter

Whether we like it or not, the winter weather has already descended upon Alaska. Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, and North Pole area homeowners would be wise to take precautions now to ensure they are not caught off guard by a faulty heating system, water leaks in the basement or high energy bills due to drafty windows and doors.

Madden Real Estate is happy to share the following five tips for preparing your home for winter and help you enjoy the season, without any home-related hassles.

Clean the gutters
Once all the leaves have fallen, it's time to clean out your gutters, unless of course, they are already overflowing. Gutters are the cause of many basement water problems due to water draining improperly.

On the same note, make sure your downspouts are pointing away from your house, away from sills and driveways. You always want to route...

How to Prep Your Alaska Home for Halloween

October is nearly here! That means fall is officially underway which brings about its own share of tasks for Alaskan homeowners— raking leaves, cleaning out the fireplace, updating decor and now, preparing for Halloween. You might not have anticipated getting ready for trick or treaters, but there are a few ways you can make sure the path to your door is as safe as possible.

Clear the way

Just as you would do to prepare for potential Alaska homebuyers, you need to ensure the pathways are unobstructed. While it's still daylight, inspect your lawn, driveway and other pathways for anything that could prove an obstacle. That means tree roots, fallen branches, or even cracks in the pavement. Make updates and repairs where you can or at the very least, block off these areas.

It's also important to make sure your Halloween decor...

Frustrated Alaskan Homebuyer? Here's What To Do Now

With rising mortgage rates, home prices, inflation, and the lack of homes for sale in Alaska, there are many reasons to be frustrated when looking to buy a home right now. And while it may feel challenging to both find a property and close the deal, there may be good news on the horizon.

"While the median list price for a home is still a staggering $435,000," Realtor.com reports. "Prices [recently] dropped for the first time in six years—by $15,000." 

The industry outlet goes on to state that the national inventory of active listings increased by 30.7%, a record-high growth rate. "As a result, the housing market may be headed toward a state of balance not seen since the COVID-19 pandemic led to a full-blown seller’s market," they speculated.

So what can you do this year if you're ready to buy but feeling fed up with market conditions?...

Extra Fees When Moving to a New Home in Fairbanks, Anchorage, Wasilla

As we’ve mentioned in past blog posts, there are many “hidden costs” of buying a home in Alaska and that goes for moving too! It is so secret that the moving process can be overwhelming. After all, you’re on your way to settle into your dream home. It’s both exciting and new and as a result, it can be easy to overlook a few key items like fees along the way.

If you’re moving to a new home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, or the surrounding areas this summer, it is important to keep an eye out for these extra fees that could pop up when changing homes. Even little things like disposing of packing materials can add up in charges.

Packing and Unpacking
If you don’t take the time to carefully package each item or piece of furniture, you could risk damaging them in your move. However, some...

How to Research Alaska Neighborhoods Before You Buy

When you're shopping for a new home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole, you'll want to research everything from the square footage to the property taxes to, perhaps the most important, the neighborhood. But with technology 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 Alaska 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 Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, and North Pole. 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.

...

Homebuyer Practices for Alaskan Open Houses

Summer is a busy time in the real estate market, with Alaskan homebuyers taking the time to tour homes for sale through open houses. However, if you're a first-time homebuyer, you may not know how to act at an open house. Don't worry! Like any aspect of Alaska real estate, there are guidelines to follow as you visit them this summer, but we're here to walk you through it!

As you head out to visit available properties in Fairbanks, Anchorage, Eagle River, Palmer, and North Pole this year, keep the following tips in mind to practice smart homebuyer etiquette and soon you'll be a pro!

Watch the other homebuyers
Take note of your surroundings as you visit open houses in Fairbanks, Eagle River, Palmer, Wasilla, and North Pole, watching...

4 Alaskan Home Projects That Pay Off at Resale

Summer is one of the best times to tackle that long homeowner to-do list! Whether it’s replacing your front door, installing new light fixtures and landscaping, or even as big as renovating an entire bathroom, there are certain projects that can give your home a much needed boost in terms of looks and value!

But don’t be too quick with the hammer— instead take a look at our list of Alaskan home projects that will pay you back when the time comes to sell.

According to real estate news outlet Keeping Current Matters, the following four projects will yield you the highest return on your investment:

Bathroom Remodel
You may have heard that kitchens and bathrooms help sell homes and it’s true! A minor bathroom remodel...

When is the Best Time to Sell Your Alaskan Home?

Now that we're inching toward the summer season and the real estate market has certainly been heating up, you may have heard that now is a great time to sell your Alaskan home.

There are indeed more buyers in search of properties in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, and North Pole, home prices are rising, and landing top dollar is not so uncommon anymore— but just remember, timing is everything!

The assumption that spring is the proper time is not always accurate. Below are four things to consider if you're ready to sell your Alaskan home.

Spring isn't always best
Many believe that spring is the best time to sell your home, however according to Realtor.com, "one recent...

Top Reasons to Own a Home in Alaska This Year

Summer is upon us and it's an exciting time in local real estate! The conditions are ideal for moving, homebuyers are feeling motivated, and Alaskan home sellers are ready for a change of scenery. However, despite the market statistics on rising mortgage rates and housing prices, there are still a few buyers on the fence.

If you find yourself wondering if now is the right time to buy in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole, consider these top five reasons to own a home:

Paying rent is not the best investment
If you're currently renting, ask yourself where your money is going every month. When you rent a home in Alaska, you are paying down your landlord's mortgage, not your own. When you own a home, you are paying down your...

Benefits of a Down Payment for Alaskan Homebuyers

When it comes to buying a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, and the surrounding Alaskan communities, there are many options for mortgage loans. Alaska homebuyers can shop around for a mortgage loan and see what works best for them and their finances.

As your local Alaskan real estate experts, Madden Real Estate is here to offer you some general information on your down payment options. There are many programs out there now that allow to you put down as little as 3 or 5 percent on an Alaskan home. With VA loans for veterans, you don’t need any down payment.

These programs are wonderful for families who do not have 20 percent saved for...

Spring Home Projects to Boost Your Alaska Home's Curb Appeal

With the weather beginning to warm up and the official start of spring finally here, many homeowners in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, and North Pole are looking for ways to improve their property.

But if you're one of those making a home to-do list this spring, it's important to consider the projects that will be worth your while in terms of boosting curb appeal and adding value.

Consider the following home projects that will pay off when it comes time to sell your home in Alaska:

Clean it up
Before you can start on improvement projects like adding new landscaping or painting the shutters, start by giving your home's exterior a good cleaning. Power wash away all of the grime, dirt and mildew that could have built up over the long winter. Wash the windows, inside and out, and don't forget to wash...

How Alaska Real Estate is a Time-Honored Inflation Hedge

Real estate has just been voted the best investment for the eighth year in a row— better than stocks, gold, and savings! But that’s not all real estate can hold its own against by comparison.

Real estate is also a time-honored inflation hedge. In fact, for the last decade, home price appreciation has beat inflation by several percentage points.

During times where inflation is mounting, rising costs of rent can also be a major concern. However, as a homeowner, fixed-rate mortgages can help you keep your monthly housing payment the same.

“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same,” said James Royal, Senior Wealth Management Reporter at Bankrate. “That’s certainly...

Alaskan Home Selling Advice to Ignore in 2022

As an Alaskan homeowner, you've probably heard dozens of real estate myths bouncing around from family and friends— running the gamut from when to sell your home to how much buyers are willing to pay.

However, it's important to note that these should be taken with a grain of salt—unless they come from a trusted real estate expert—and in some cases, ignored entirely.

If you plan to sell your home in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, North Pole, or beyond this year, you will want to ignore the following home selling advice:

You will sell at the open house
Open houses can be beneficial for Alaskan homeowners in that they attract many eyes to your property at once— but that doesn't mean it will always end in a sale. While many buyers may come through your home, don't expect all of them to make an offer. Private showings...

How to Buy an Alaskan Home in 5 Simple Steps

As we get closer toward spring (it does come around eventually!), dozens of Alaska residents begin to contemplate buying a new home. In fact, spring is the time of year when the real estate market starts to really heat up and buyers descend upon local homes for sale!

However, if you're a first-time buyer in Alaska this year or are feeling overwhelmed by the process, don't worry! It may be best to break it down into simple steps, so you too can take advantage of this exciting time.

You can count on Madden Real Estate to clarify any questions you have about buying a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas and simplify the path to homeownership.

Below are five steps to get you started as a homebuyer:...

How to Gain an Edge Over Cash Buyers in Alaska This Year

Once you've found your dream home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole, it can be hard to erase the picture from your mind. You start to envision yourself living in the space, how your furniture will fit, and what paint colors you will choose. But in today's real estate market, you may find yourself competing with cash buyers who can snag the home quicker and easier than those with financing.

You will need an edge to land the property over those cash buyers and below are a few ways for you to do just that:

Be straightforward about your finances
Sellers often accept cash deals as every aspect of the transaction is laid out on the table for them to see. As a buyer with financing, it is essential that you do the same if you are to compete with cash buyers. Be straightforward with your finances— provide a pre-approval letter, allow your lender...

Homebuyer Help: What It Takes to Qualify for a Mortgage in Alaska

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 in Alaska, 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 in the Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole areas:

1. A Down Payment
Did you know nearly half of all Alaskan homebuyers believe...

Staging Your Alaskan Home for the Holidays

Thanksgiving is in just a few weeks and Alaskan homeowners may already be planning to bring all of their decor out of storage, preparing to deck the halls for the holidays. However, if you're a home seller, there are a few key rules to keep in mind as you decorate.

You can find great success in selling your home during the holiday season and the right staging can help buyers feel more at home. Remember the following tips for staging during the holiday season and you could just give your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond the competitive edge it needs to sell!

Curb Appeal Begins at the Front Door
The front door is one of the first things an ...

Buying an Alaskan Home Helps Build Long-Term Wealth

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 own a home in Alaska, you are paying...

3 Things to Know Before Upsizing to a New Alaskan Home This Year

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 your home search, it's important...