As a buyer in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas, it is essential to consider all costs association with your new home. Everything from maintenance to renovation, repairs and closing costs should be factored in to ensure that you do not have any surprises or worries down the road. But if you’re purchasing a new construction home in Alaska, it’s also important to be aware of the costs you’ll have after the closing.
Below are four costs you will have after the purchase of your new construction home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas:
Utilities
Yes, all homeowners will have utilities to factor...
You may be watching both home prices and mortgage rates tick upwards in today’s unpredictable real estate market, wondering if buying a home right now is your best bet. While it may be an expensive endeavor, your goal of owning a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas is not out of reach.
There are many strategies for saving money and staying on budget while buying a home in Alaska and as your local real estate experts, we are listing four to try below. Continue on for top tactics for becoming a homeowner in the current real estate market.
Get a Low or No Down Payment Loan
If the thought of putting 20 percent down on a home causes you stress or makes you want to toss your homebuyer dreams out the window, take a deep...
When you decide to sell your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole, you begin to dream about how much profit you can make and moving to your next location. However, there is one figure you'll need to determine before you can make those dreams a reality— your home value.
It is not uncommon for homeowners to over-estimate how much their property might be worth, so as your local real estate experts, the Madden Real Estate team has put together a few tips that can help you determine just that.
Comparable properties
One of the first places to look to help find your home value is a list of comparable properties in the area. Look at homes that have a similar square footage to yours or those with the same types of features. Even if you think your home is better than the one...
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 is not...
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?...
Fall is a great time to become a homeowner in Alaska! Not only is a new season just beginning, but you have the opportunity to secure a low interest rate and settle into a home before the cold weather arrives.
But what if you’re currently a renter in the Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, or North Pole areas? Don’t worry! Madden Real Estate has provided a few ways below that you can prepare to take advantage of this exciting time in the local real estate market.
Research all of the costs
There are more costs involved with owning a home than just your monthly mortgage payment. For first time buyers, this may come as a surprise, but with the proper amount of research, you will be able to determine exactly how much you can afford in a home. Costs like property...
Did you know misconceptions and myths are what holds would-be homebuyers back most in Alaska? Buying a home is indeed one of the biggest steps you will ever take, but don’t allow what you assume is true or required to become fact without first doing the research.
As your local real estate experts in Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas, Madden Real Estate is happy to help you clear a few things up! Below are three myths surrounding mortgages that may be keeping you from purchasing your dream home in Alaska:
Myth: Your best credit scores will be used
When you apply jointly with another borrower for a mortgage in Alaska, your lender will take...
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 new...
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.
...
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 the...
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 can...
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 study...
Excitement runs high when you have an accepted offer on your Alaskan home, but what comes next could bring you down if not properly prepared for— the home inspection. The inspection could make or break your deal and is a contingency often written into most offers, meaning the buyer could walk away if the results are less than ideal.
Below are just a few of the items that inspectors will be looking for during their time at your property in Fairbanks, Eagle River, Palmer, Wasilla, North Pole, and beyond:
1. Structure: Integrity of your foundation, state of windows, doors and frames
2. Grounds: Faulty grading, dilapidated pathways and walks, trees, and any standing water
3. Roof: Defects in shingles, flashing, fascia, gutters, chimney and skylights
4. Interiors: Water damage, insulation,...
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 away...
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 not...
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...
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:...
When the Alaska real estate market is hot, buyer demand is high, and sellers have the advantage, of course looking for the highest offer is a common strategy. However, there are a few other factors—besides money—that can contribute to a strong offer.
If you’re selling your Alaskan home this year, be sure to dive deeper when reviewing those offers and see if the following factors are included. Every seller would do well to consider all aspects, beyond the dollar amount, before settling on a buyer!
Financing Methods
As a home seller in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole, you likely have a dollar amount in mind that you would like buyers to meet or exceed. But just remember that buyers need to prove their ability...
Many homeowners in Alaska are now realizing the positive direction in which the market is heading— and as a result, plan to sell their homes in 2022. Low mortgage rates are said to continue, as well as steady home value appreciation, and an increasing number of motivated homebuyers.
If you’re ready to sell in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, or the surrounding communities this coming year, here are three home seller’s resolutions that can help bring you success in 2022.
Appeal to buyers online
As your real estate experts in Alaska, Madden Real Estate has a strategy for seeking out homebuyers in the first place they look— online. Listing photos are especially important to grabbing a buyer’s attention. Staying away from the online aspect of a listing or not putting enough effort...
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...
