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...
Spring is officially here in Alaska and the real estate market is only beginning to heat up for the busy season ahead! And while it can be easy to get ahead of yourself when you first begin to search for Alaska homes for sale, it is important to first outline your priorities to streamline the process— and avoid falling in love with a property that's out of your budget!
Below are three important questions to ask yourself as you begin house-hunting in Eagle River, Anchorage, Palmer, Wasilla, Fairbanks, and North Pole:
How long do I plan to be in this home?
Before you can start searching for properties, ask yourself if this is a forever home. How long do...
Searching for your dream home in Fairbanks AK or the surrounding areas is an exciting journey and one you may have been thinking about for quite some time. You'll tour dozens of homes before you find the best fit, carefully considering the number of bedrooms, bathrooms, square footage, and of course, location. However, you may also discover that a property doesn't check all of the boxes on your priority list. So, when should you compromise?
As your local real estate experts in Fairbanks, Anchorage, North Pole, Wasilla, Eagle River, Palmer and Chugiak, we have included below a few compromises that are worth making when house hunting in Alaska:
The size of the yard
...
Once you've made the decision to buy a home in Alaska, your next few steps will likely be entirely financial. From making a budget to going over your finances to meeting with a lender and getting pre-approved, every cost involved with your Alaskan home purchase should be considered to avoid any surprises.
However, many new homeowners in Fairbanks, Anchorage, North Pole, Wasilla, Eagle River, and Palmer often find there are a few hidden costs that they didn't account for going into the process. As your local real estate experts, you can count on Madden Real Estate ...
Spring is an exciting time of year where everything is beginning to come alive again— the weather, the flowers and even, the homebuyers! Many first-time buyers will enter the Alaskan real estate market in the coming weeks and months, ready to land their dream home. However, the truth is if you're not careful or prepared, you could run into the same common obstacles that others have tripped over.
Below are four mistakes that first-time buyers should avoid this spring:
Rushing into the purchase
As you shop for homes in Alaska this spring, it's important that you take your time. Do not feel pressured into a home purchase simply because there are other...
We recently shared a blog post on the 4 Ways to Successfully Sell Your Alaskan Home This Winter, but now it's time to turn the tables and focus on Alaskan homebuyers! Winter can be an opportune time to find your dream home—even score a deal—and with the help of the experts at Madden Real Estate, you will know exactly what to keep in mind as you browse available properties in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, and North Pole.
Below are four reasons why you're on the right track by shopping for a home in the Alaskan winter:
You can spot flaws
While ...
With a series of reality television shows boasting successful renovations and remodels of older homes, many Alaskan homebuyers have it on their agenda to purchase a fixer upper property. The idea of making something your own can be thrilling, but it's also important to remember that it can be a massive undertaking— not to mention, a very costly one.
As your real estate experts in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole and the surrounding areas, Madden Real Estate is happy to share three essential steps to take if you plan to buy a home in need of TLC this year. Be sure to add the following to your to-do list as you prepare to close on your dream...
When preparing to buy a home in Fairbanks this year, there are a few "unwritten" rules to follow. Following these best practices as both an Alaskan homebuyer and home seller, you can be assured your real estate journey will be a smooth one. Your real estate agent will also be able to suggest tips and tricks along the way to help you make the right decisions. So before you jump into Fairbanks real estate this year, take a look at some of the best real estate rules of the road.
Use a Real Estate Agent
One of the best decisions you can make as both a homebuyer and home seller involves hiring a real estate agent. When it comes to the stacks of paperwork involved, negotiations, and more, it pays to have an expert in your corner. Navigating the Alaskan real estate market alone can be complicated and your real estate agent is there to explain everything along the way. Whether...
Are you planning to buy a home in Fairbanks this spring? If so, you’re not alone. We’re quickly approaching the busiest season of the year in the Alaskan real estate market. Over the next few weeks, you’re likely to see a new crop of homes for sale in addition to an army of hopeful homebuyers ready to call Fairbanks “home” in 2014. If you’re a first-time homebuyer or if it’s been a while since you’ve gone through the home buying process, it’s important to know that there are a few items you should start thinking about right away. To ensure you’re fully prepared to tackle the Alaskan real estate market, here are three tips for getting ready to buy a home in Fairbanks this spring.
Be prepared with a down payment
It’s generally recommended to put 20 percent down when you buy a home in Fairbanks...
Love is in the air in Fairbanks! As you may know, Valentine’s Day is coming up in just a few days, providing us with the perfect opportunity to show our loved ones how much we care. Whether you plan to enjoy a romantic dinner with your significant other or catch up with close friends at brunch, there’s no shortage of ways to celebrate the sweetest day of the year in Fairbanks. If you recently decided to buy a home in Fairbanks, you might be stumped as to where you should make a reservation. That’s why we at Madden Real Estate have decided to list a few of our favorite restaurants, any of which will make this Valentine’s Day unforgettable.
Wasabi Bay Sushi Restaurant – Sushi
1448 S Cushman St
Fairbanks, AK 99701
(907) 452-0521
...
If we’re being honest with ourselves, we all have a few bad habits that we’d like to improve upon. Whether it’s eating healthier, getting more exercise, or being more diligent about saving up to buy a home in Fairbanks, the New Year presents us with the perfect opportunity to hit the reset button and make some positive changes in our lives. Along with the personal and professional tweaks you’ll resolve to make this year, your home could use your attention, too. As we flip our calendars to January 1st, here are a few Fairbanks home habits to leave behind in 2013.
Collecting needless clutter
Getting organized is one of the best and most cost effective ways to feel better about your home. Now is the time to go through each room and take inventory everything you acquired in 2013, and only keep things that...
As of tomorrow, the winter season will have officially arrived in Fairbanks. Where has the time gone? As the calendar finally catches up with the weather, many Alaskans will find themselves shopping for last-minute gifts and making their final preparations for the holidays. While the weekend before Christmas is always a busy one, we encourage you to take a break from your to-do list and get in the holiday spirit with a celebration of the winter season. This Saturday, December 21st, the Downtown Association of Fairbanks is gearing up to continue a Winter Solstice tradition that Alaskans look forward to each and every year.
Each December, Fairbanks celebrates Winter Solstice like nowhere else in the Northern hemisphere – and this...
Greetings, Fairbanks! We’re just a few weeks shy of ringing in 2014. It’s hard to believe how quickly the year flew by. As you start wrapping up 2013 and documenting your New Year’s resolutions, you may want to consider adding a home remodeling project to your list. Now that the housing recovery is in full swing, more and more homeowners are putting time, energy, and money into their properties. If you’re considering making some improvements around your home this winter, here’s what design trends are predicted to grow in popularity in 2014.
Modern Kitchens
When it comes to the kitchen, modern is in. Think white or gray cabinetry, streamlined countertops, high gloss finishes, and an overall minimalist approach. Appliances will be camouflaged into the design or hidden completely to promote a more sleek appearance.
Brass Accents
While...
Now that Thanksgiving is said and done, the craziness of the holiday season will really start to pick up. On top of your day-to-day responsibilities, you’re now expected to host cocktail parties, cross names off of your shopping list, and make time for visiting with out-of-town guests. When a slew of holiday stressors are added to your already overflowing list of to-do’s, trying to sell your home in Fairbanks probably seems downright overwhelming. However, there are some unique advantages to keeping your home for sale in the Alaskan real estate market over the holidays. If you’re thinking about putting a hold on your efforts and re-listing your property in 2014, we encourage you to take a look at the following points first:
- More motivated buyers
Any buyer who is persistent with their home search from Thanksgiving through New Years is serious about making a purchase. Whether they are relocating to start a new job in 2014, or are...
It’s safe to say winter has made a dramatic appearance here in Fairbanks! Slick driving conditions, power outages, and downright chilling temperatures have forced many businesses to close up shop until the storm has passed. If you recently decided to buy a home in Fairbanks, you’ve officially caught a glimpse of how unpredictable our weather can be. Although most homes in Alaska have been built to withstand subarctic temperatures, it’s a smart idea to be prepared in case your power goes out during a winter storm. To help you face the unexpected, here are our tips for being prepared and staying warm during a winter power outage.
Move all members of your household into one room
When your power goes out, the first step is to gather your emergency disaster kit and all members of your household into one room. This way, instead of trying to heat the entire house, you’re just focusing your attention on a small...
Can you believe we’ll all be sitting down to Thanksgiving dinner in just three weeks? If you recently decided to buy a home in Fairbanks and will be hosting guests for the very first time, you might feel a lot of pressure to pull off a flawless meal. While there’s a lot of preparation that goes into playing host/hostess for your first holiday, it’s nothing that can’t be managed with some proper planning and organization. To save you time, stress, and the headache that often accompanies out-of-town guests, we’ve created a handy timeline to ensure you’re on track to a picture-perfect Turkey Day.
Three weeks before Thanksgiving
Get a general idea of the dishes you plan to make as well as the dishes your guests plan to bring. As you start planning your menu, you can figure out which recipes use the same oven temperature so they can cook simultaneously. Coordinating your oven schedule now will make sure you’re...
Do increasing rental prices finally have you thinking about buying a home in Fairbanks? Or, maybe it’s the historically low interest rates, the desire to build equity, or the push to start a family? Whatever your reason for deciding to venture into the Alaskan real estate market, you’re making the right choice. To make your transition into homeownership a little bit smoother, we at Madden Real Estate will stand by your side every step of the way. However, before you start searching for your dream home, an essential key to your success in the Alaskan real estate market will be saving up enough money for a down payment – and then some.
As of last week, the average listing price for a home in Fairbanks was $229,421. The average down payment for a home is 20%, bringing your upfront costs to about $45,884. That’s a hefty chunk of change for...
If you're currently a homeowner, there was a point in time when you decided you were ready to buy a home in Fairbanks. Now, for whatever reason, you have come to realize that what was once your dream home doesn't fit your lifestyle any longer. It's no secret that selling your home can be emotional and daunting whether you're moving up, downsizing, or relocating. However, as long as you choose the right professional to represent your best interest, your experience in the Alaskan real estate market should go smoothly. To make the decision process a little bit easier for you, here are a few things to look for when deciding who to hire as your Fairbanks real estate agent.
Tech-savvy
Home buyers aren't starting their searches in the newspaper anymore, they're getting online. Make sure your Fairbanks real estate agent will use the latest technology...
If you recently decided to buy a home in Fairbanks and have relocated from a different part of the country, you may be surprised at how cold it is already. The temperature has been dipping below freezing at night, while the leaves haven’t even begun to change in other parts of the U.S. Needless to say, heating your home through the long Alaskan winter can take a major toll on your gas bill. However, getting creative and making a few small changes around your home can make a world of difference when it comes to how much you’re shelling out on heating costs. Here are a few tips and tricks to get you through the winter while spending as little as possible on your utilities.
Get busy in the kitchen
Aside from going to work or school, you’re going to spend a considerable amount of time indoors this season. Why not use the time to cook some tasty comfort food or dessert? Having the oven on will heat your home while you prepare...
As soon as you buy a home in Fairbanks, you’ll find that a big part of the local lifestyle includes spending time outdoors and discovering the Alaskan wilderness. While there are plenty of opportunities to explore the outdoors in Fairbanks this winter, there comes a time when you’re ready to thaw out and do something inside!
As you may know, Fairbanks is home to the beautiful University of Alaska Fairbanks campus. With a variety of undergraduate and graduate programs on offer, students from all over the world come to UAF to further their educations. However, what you may not know is that UAF also has classes for adults and children. These non-degree programs are available for those who want to continue their education, explore a new field, or pick up a new hobby without the pressure of papers and exams.
...
