Madden Real Estate

5 Questions to Ask Alaskan Mortgage Lenders This Summer

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...

Outdoor Features Buyers Want in Alaskan Homes This Year

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!

Privacy
In past blog posts, we've shared how you can boost your curb appeal (including adding privacy!) in ...

The Extra Costs of Buying a Home in Alaska

The two major costs associated with buying a home in Fairbanks, Eagle River, Anchorage, Palmer, Wasilla, North Pole, and the surrounding communities are the down payment and the monthly mortgage. However, there are a few others that buyers tend to overlook— causing both surprise and shock when the time comes to sign on the dotted line.

It is always wise to do your homework prior to house-hunting in Alaska to ensure that you understand each and every one of the costs involved.

Below are four hidden costs of buying a home and to avoid disappointment later, it is important to factor them into your budget before you find the one.

Closing Costs
Alaskan home buyers can expect closing costs to span...

Don't Overlook These 5 Things When Shopping for Alaskan Homes

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...

3 Common Alaska Real Estate Myths to Ignore When Buying a Home

If you're on the fence about buying a home in Fairbanks, Eagle River, Palmer, Wasilla, North Pole, or the surrounding areas, you might be surprised to know that what's been holding you back is a complete myth!

There are dozens of myths flying around the Alaska real estate market surrounding everything from necessary credit scores to the documents you need to qualify for a mortgage.

As your local Alaska real estate experts, we're debunking some of the most common Alaskan homebuying myths below so you can buy a home with confidence this year!

Myth: You need a perfect credit score
Many would-be homebuyers are held back from the process simply because they don't think...

3 Reasons Not to Sell Your Alaska Home By Yourself This Spring

If you've been thinking about selling your home in Alaska, 2021 is the perfect time to do so! Many buyers, both first-time and seasoned, are in the real estate market in droves, all searching for their dream home, but are being met with less inventory than there has been in the past.

Alaskan home sellers are in high demand, but you may be contemplating the best route to take— FSBO (For Sale by Owner) or work with a real estate agent? The perks of working with an experienced agent are numerous and if your motive for considering FSBO is simply to save money, you might like to think again!

Your agent will do the negotiating
Think of all of the parties involved in a home sale in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond, from the buyer and their agent...

Why Now is the Best Time to Sell Your Alaskan Home in Years!

We've shared recently about Why You Should be Optimistic About 2021 Real Estate and to continue on down that path of real estate positivity, we're now breaking down why the current market offers the best opportunity to sell in YEARS!

If you're a homeowner in Alaska, don't be too quick to write off this spring, given the global health situation, as a poor time to list your home. In fact, the local market conditions present a lucrative scenario for sellers!

Below are five reasons why now is the best time in years to sell your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole or the surrounding areas:

Home Buyer Demand is High

The pandemic may have slowed many things, but buyer demand is not one of them. Buyers are determined to upgrades...

5 Alaska Homeowner Problems and How to Fix Them

As a home seller, it’s important to note that hiding flaws from buyers is simply not an option. If your Alaskan home is in need of repair, it’s better to remedy the problem entirely than to hatch a plan for a quick fix that could send buyers running for the door.

Fairbanks and Anchorage area home sellers will find their transaction runs much more smoothly if they fix the problem versus finding a way to cover it up for the time being.

If you’re planning to sell your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or the surrounding communities this year, you’ll want to take a look at the following five problems that can arise for homeowners and how to fix them.

Problem: Stained Ceiling
How to Fix: Instead...

5 Alaska Real Estate Mistakes to Avoid When Buying in Winter

Despite the current global health situation, Alaska real estate is still booming! In fact, during a time when you'll find yourself thinking you're one of few trekking through the snow to find the perfect Alaskan home, you might be surprised to know other buyers are out in high numbers doing the same thing.

This winter will be different in the local real estate market and assumptions you have about buying an Alaskan home in the winter could cost you.

Below we're sharing five common mistakes to avoid when buying a home during this time of year. After all, you don't want to lose out on your dream home just because you thought others were waiting until spring to buy!

Ending up in Holiday Debt

In order to remain in good standing to buy a home...

DIY Projects for Your Alaskan Home That Will Actually Pay Off

Now that we're all spending more time at home, there have been plenty of hours to watch home improvement TV and real estate reality shows, contemplating how you can put your DIY skills to work.

But before you grab a paintbrush or do anything drastic, you'll want to know there are several DIY projects you can do to your Alaskan home that will actually pay off at resale. 

Below are five home improvement projects Alaskan homeowners can do to improve their property's overall appeal to future homebuyers in Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond:

Makeover your cabinets
There is no doubt that kitchens and bathrooms often sell homes. One easy project you can do to makeover your kitchen is to refresh your cabinets. As long as the cabinets are in good shape, you can add a coat...

How to Prioritize Home Projects as an Alaskan Homeowner

When you first move into a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla or North Pole, you might be overwhelmed with home project ideas. From painting the house to renovating the kitchen, it's hard to prioritize what needs to be done and how to stay on budget.

If you've just moved into your Alaskan home or are in the process of house hunting and deciding which home to buy, below are a few tips to help you stay on task.

Take notes around the home
Any time you decide to take on a home project, you should plan out the process and assess the conditions of the space. For instance, what needs to be done versus what you'd like to get done first. Is the flooring damaged? Are the appliances not running their best? These may be prioritized ahead of simply changing out paint...

How to Beat the Competition in Alaska Real Estate

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?

Below are five tips to...

Why Older Homes in Alaska Might Appeal to More Buyers

For today's homebuyers in Alaska, there are many choices associated with local real estate. From when to buy or when to sell, which mortgage type is best and which Alaskan community to move into, there is also one other important question homebuyers must ask themselves— new construction or existing?

The prices can vary dramatically and while you may prioritize having a brand-new home over a lived-in property, it's important to consider the financial differences between the two.

New Construction Upgrades
When you visit a model home in an Alaskan community like Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole or beyond, it can be easy to feel attached to all of the modern features....

3 Things to Consider When Moving to a Larger Alaskan Home

With mortgage rates still at historically low rates and home values rising, many Alaksan residents are currently contemplating a move— even in the midst of the current, and somewhat uncertain, economic climate. However, if you've been wondering, 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 agents in Fairbanks, 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 ...

5 Pandemic Real Estate Myths for Alaska Home Buyers and Sellers— Debunked!

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 which means...

How to Research a Neighborhood When Buying an Alaskan Home

When you're shopping for a new Alaskan home, you'll want to research everything from the square footage to the property taxes to, perhaps the most important, the neighborhood. But when you're in such strange times as these where you might be sheltering 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 Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole 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 Alaska. 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. 

Use Google Maps...

How to Lower Your Alaskan Home Utility Bills This Summer

The official start of summer is here in Alaska! And while we're all certainly looking forward to warmer temperatures, the summer heat can bring about a rise in utility bills for Alaskan homeowners.

There are dozens of ways to keep mounting utility costs at bay this year and as your real estate experts in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond, we are happy to share a few with you below!

Clean your air filters
It's important to clean your air filters to keep your heating and cooling bills down this summer. When filters are dirty, these systems have to work much harder and use much more energy to function properly. With clean filters, your home can run as it is meant to and help bring down your utility bills.

Install a new thermostat
If you haven't already, consider installing a new thermostat in ...

Moving to Alaska Tips for Military Families

Receiving Permanent Change of Station orders can be stressful, and receiving PCS orders to Alaska can seem overwhelming! But don't worry, we are here to help you find your new home in Alaska. Our experience in Alaska military relocations can help make the transition a smooth one!

Our website has a list of resource links such as The U.S. Army "Alaska for Newcomers"...

The 5 Most-Viewed Alaska Real Estate Markets

Alaska home buyers have been actively viewing online listings in recent months, and certain zip codes are leading the pack in buyer interest. According to a national listing aggregator, the most popular Alaskan real estate markets for the first quarter of 2020 are:

  • 99705 North Pole
  • 99712 Fairbanks
  • 99709 Fairbanks
  • 99701 Fairbanks
  • 99518 Anchorage

The markets with the most online views also show the fastest pace of home sales! During the first few months of the year, homes in the most popular zip code area of 99705 spent a median of 43 days on market. The next most popular area in 99712 saw homes spending a median of 63 days on market.

For Alaska homeowners, there’s a couple of big takeaways from this info. First, the way your home looks online does matter! Your home’s first impression...

Alaska Home Buyers Could Face Tougher Mortgage Requirements

Alaksa home buyers have the wind at their back when it comes to mortgage interest rates. According to industry surveys by Freddie Mac, interest rates for a 30-year, fixed-rate mortgage are hovering below 3.5%

The catch: mortgage lenders are feeling stingy these days. The bar for mortgage approvals has been set higher. Major lenders have announced credit score minimums of 680 to 700. Depending on the type of mortgage you're seeking, and the lender you're working with, the down payment requirements can be as high as 20%. Debt-to-income ratios also need to be lean and mean. 

Before applying for a mortgage, Alaska home buyers can do a lot to shore up their credit standing. This takes some time, but it's a worthwhile investment! The better your credit profile, the better your mortgage offers. ...

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