Homebuyers

New Year's Resolutions to Help You Buy a Home in Alaska

If you haven't yet sat down to make a list of new year's resolutions for 2019, what better time is there than now? It's always a fun exercise to take stock of your goals for the year ahead and make a plan on how to achieve them. For many in Alaska, you might find that they are personal or health related, but one of your big resolutions or goals might be buying a home!

There are dozens of steps to take to successfully become a homeowner in 2019 and as your local real estate experts in Anchorage, Eagle River, Fairbanks, Wasilla, Palmer and North Pole (and beyond!)Madden Real Estate is happy to help you make that a reality! Below are 5 new year's resolutions to make in order to buy an Alaskan home in the new year:

Eliminate indulgences
It might not be your favorite route toward ...

5 Things Not to Do When Buying a Home in Alaska in 2019

Buying a home in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, or North Pole can be an overwhelming decision, especially if it's your first time navigating the real estate market. And since this is likely the largest purchase you will ever make, it's important that you try to avoid the common mistakes that homebuyers have encountered before you. That's where Madden Real Estate comes in! We have included a list below of five things not to do when buying a home in Alaska, so you can enjoy a smooth process and settle into your new home with no worries!

Don't shop without an agent
Navigating the real estate market can be tricky, so why go it alone? Let Madden Real Estate be your guide to homes for sale in Alaska! You will want...

Why Fall Is a Great Time to Buy a Fairbanks AK Home

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...

4 Reasons Why Lenders Reject Alaska Mortgage Applications

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...

How to Tell a Great Fixer Upper in Alaska from a Money Pit

You likely already have a picture in your head of what you'd like your dream home in Alaska to look like. Maybe it's a new construction home in a family-friendly neighborhood or maybe it's a fixer upper that you can make your own. If the latter is more your style, you'll want to keep your eyes peeled for a certain set of features that will help you tell the difference between a property with potential and a money pit.

Below are four things to look for in Alaska fixer upper homes to avoid a homeowner headache down the road:

Sound Structural Elements
When you move into a new home in Alaska, it can be quite costly to need to replace major structural parts like the roof,...

The Cost of Waiting to Buy a Home in Alaska— Rising Interest Rates!

It is not uncommon for Alaskan homebuyers to sit on the fence, wondering if there will be a better time to purchase a home down the road. Will you be able to get a better deal on a property in a few months? Will the real estate market slow down? These are all valid questions, but it's also important to consider the flip side and what it could cost you if you choose to wait to buy a home.

In today's market, interest rates continue to rise and waiting as little as a few months could cost you more than you think in your monthly mortgage payment. According to real estate news outlet Keeping Current Matters, the cost of waiting to buy is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.

For instance, in today's real estate market with an interest rate of 4.4 percent...

Questions to Ask Yourself While Shopping for Houses in Alaska

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 you plan to stay?...

5 Things to Avoid When Preparing to Buy a Home in Fairbanks AK

With spring just around the corner and the Alaska real estate market preparing to pick up for the busy season ahead, there are numerous buyers on the fence wondering about their first step. Should I get pre-approved? Should we wait until we have a 20 percent down payment?

All of the questions running through your head are important to answer to get a better handle on the mortgage process, and as your local real estate experts, we're breaking down the steps you should avoid so you can embark on your homebuying journey with few hiccups along the way.

Do Not: Wait until you have a 20 percent down payment
Mortgage rates today are still hovering around historic lows— but not for...

What You Should Know About Shopping for an Alaska Home in the Winter

Gone are the days where homebuyers only searched for properties in Alaska when the weather was warmer, they happened upon a listing in the newspaper, or drove by a For Sale sign. In today's Alaskan real estate market, buyers are always switched "on," constantly looking for properties on their smartphones and computers, even setting up search parameters so potential homes land in their email inbox. 

It doesn't pay to wait as a homebuyer in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole. Your dream home could be waiting for you—even in the winter months—so...

Why 2018 Is the Best Year for Buying a House in Fairbanks AK

It's a brand new year in Alaska and if you've started to map out your goals for the upcoming months, you might find buying a house in Fairbanks among the top priorities— and rightfully so! 2018 will be one of the best years for homebuyers to make a purchase and below we've included four reasons why you won't want to delay:

Inventory is returning
For the majority of the last year, inventory in the local real estate market has been lower, thus making it challenging for some buyers to find the right home that checks all of their boxes. However, 2018 will spark a recovery in inventory, especially in the middle to upper price ranges. ...

Should You Buy a Home in Alaska During the Holidays?

The holiday hustle and bustle is just beginning in Alaska— from gatherings with friends and family to decking the halls, shopping, and even traveling. This time of year is undoubtedly one of the busiest and moving may be the last thing on your mind, but does that mean you should wait to buy a home in Alaska

As your local real estate experts in Alaska, you can count on Madden Real Estate to help you find your dream home and identify the best opportunities to do so— one of which is right now! Below are three reasons to consider buying a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole during the holidays:

There is less competition...

When a 30-Year Mortgage Is Not for You in Fairbanks AK Real Estate

One of the first steps you will take on your homebuying journey in Alaska is meeting with a lender to discuss your eligibility to take on a mortgage loan. You will likely be given a few quotes based on different loan products, each varying by terms, conditions, and interest rates. A 30-year fixed-rate mortgage is a common choice for homebuyers in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, North Pole and the surrounding areas, however, there are a few reasons why this mortgage may not be for you.

As you decide which mortgage may be right for you this year, consider the following reasons to choose a loan other than the 30-year fixed-rate...

Types of Debt That Can Affect Your Alaska Mortgage Approval

The summer season is upon us here in Alaska and with the market (and the weather!) beginning to heat up, many more buyers are out and about browsing available homes! But once you've found your dream home in Fairbanks, Anchorage, Eagle River, Wasilla, Palmer, or North Pole and you've moved on to applying for a mortgage, you may find that there is one factor that is stalling your loan approval— debt.

As we have mentioned in past blog posts, it's important to groom your credit score as much as possible before applying for a mortgage, but also to pay down high interest debt. There are a few common types of debt that will affect your mortgage approval and as your local real estate experts, we've listed them below!

Student Loans
Student loans—while considered unsecured debt—are...

3 Problems to Avoid When Moving to a New Anchorage AK Home

As the local Alaska real estate market continues to heat up and more buyers score their dream homes, thoughts will quickly turn to packing up and moving. Moving can be an overwhelming and stressful process, but like any task, with enough research and preparation, hiccups can be avoided! 

Madden Real Estate has provided three common moving disasters and how to avoid them below, so your journey to your dream home in Anchorage, Eagle River, Palmer, North Pole, Wasilla, or the surrounding area can be as enjoyable as possible.

1. Using a Bad Moving Company
Lost items, broken furniture, a miscommunication on which date to arrive— these scenarios can all become a reality if you...

What to Do Before Buying a Fixer Upper Home in Alaska

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 areasMadden 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 home:

Speak with a contractor...

How to Prepare to Buy A Home in Fairbanks Alaska This Summer

While inventory may be lower than it has been in past months, there is no shortage of homebuyers in the Fairbanks Alaska area! Buyer traffic has continued to rise and with May having just begun, it's safe to say we are in for a busy summer in the local real estate market!

If you have just started your home search in Fairbanks, Anchorage, Eagle River, Wasilla, Palmer or North Pole, now is the perfect time to prepare to make your home purchase a reality. Below are five ways Alaskan buyers can prepare to purchase a home this year:

Research your creditYour credit score will be an important piece of the puzzle when meeting with a lender. They will comb through your credit, pulling your scores from the three major reporting bureaus, to determine if you are...

Why You Should Buy a Home in Alaska Before Winter Arrives

While winter has been named one of the best times to buy a home in Alaska, homebuyers may find themselves wishing they had moved before the holiday season rolls around. Schedules will soon grow busier, travel accommodations will be made and planning for the new year will begin, so if you're on the fence about buying a home in Fairbanks, North Pole, Eagle River, Wasilla, Palmer or Anchorage, consider the following reasons to buy now instead of waiting.

Prices are rising
Homebuyers in Alaska will find that prices continue to rise as we head toward the end of the year— and will continue to do so well into 2016. According to a new survey report from over 100 economists and real estate market analysts, price appreciation over the next five years is expected to be between 10.5 percent and 25.5 percent. ...

Should You Wait for a Larger Downpayment to Buy a Home in Alaska?

"Should I wait to buy a home in Alaska until I have a larger downpayment?" It's a common question on many Alaskan homebuyer minds as of late and yet, the answer may not be what you expect!

The downpayment is an important part of the homebuying process as it will ultimately lower your monthly mortgage payment and if you have saved up the 20 percent, can help you avoid private mortgage insurance (PMI). And while there are mortgage types that allow you to put down as little as 3 percent, many homebuyers are pondering the idea of waiting to buy until they have a larger downpayment.

The main reason for Alaskan homebuyers going this route is avoiding...

Build Your Own Fire Pit

With the smoke, heat and burn bans across the State of Alaska this summer, you probably haven't thought much about a fire pit.  However, a fire pit can be an excellent addition to your outside living area.  And, what better way to enjoy those beautiful cool Alaskan fall evenings than sitting around a fire?  Building a fire pit is actually fairly simple, and we've put together this handy infographic to point you in the right direction!

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