When buying your first home in Alaska, it’s easy to get caught up in the excitement of house hunting and dreaming of what memories you’ll make there. However, as fun as it is to begin the process of buying a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole, it’s also important to be realistic about what it takes and what you’ll find.
Too often, homebuyers are caught off guard once they enter the local real estate market, only to find their dreams may not always be achievable. As your local real estate experts in Alaska, it is our goal to help you manage expectations and find the perfect home as we head into the new year.
Below are some of the top Alaskan homebuyer myths...
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...
When you think about the holiday hustle and bustle—shopping, events, decorating—it may seem like the last thing you should add to your plate is selling your home.
After all, aren't spring and summer the best times to list your home in Alaska? In the past, that may have been the case, but this year is shaping up to be different and the holidays could end up being the best time of year to sell your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond.
Why? A recent Foot Traffic report from the National Association of Realtors shows that there are more buyers out right now than there have been at any time in the last twelve months. This also means that there are more buyers currently looking for homes than there were during the...
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 ...
As you think about selling your home in Alaska, one of the first questions to cross your mind is likely, "How much is my home worth?" Your home value will play a major role in the success of your sale, but there are many aspects of finding this number that Alaskan homeowners simply do not understand.
We've included a few key ideas to consider as you research your home value and prepare to sell your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas this year:
Listen to your real estate agent
Determining your home value is a task best left to the experts, so do not be afraid to consult your real estate agent. Your agent can run what's called a "comparative market...
Fall is a great time to sell your home in Alaska— in fact, the market has been heating up for months! Motivated buyers are everpresent in today's real estate market, home prices are rising, and more importantly, properties are moving quicker than they have in the past. Listing your home now is an excellent idea as buyers may not have found "the one" on their search this summer and yours could be it!
So what comes next? Soon after listing your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, or the surrounding areas, you may find buyers scheduling showings to take a tour or have an open house planned and it's important to be prepared.
Follow these tips for securing your home for a showing or open house in Alaska:
Take your remotes
You may not think about...
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 ...
When it comes to buying a home in Alaska, you have many options laid in front of you— from the number of bedrooms and bathrooms, to the location, to your initial offer. However, one option you will want to avoid altogether is the decision to go it alone, without an Alaskan real estate agent on your side.
Purchasing a home may seem like something you can handle yourself, but after doing all of the research, you will find the process is best left to the pros.
Below are five reasons why you should never buy a home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, or beyond without the help of a real estate agent:
They have the experience
You could be on the brink of purchasing your second, maybe even fifth, home, but keep in mind that real estate agents have been doing this...
In today’s real estate market, inventory is low, competition is fierce, and other buyers are willing to do whatever it takes to secure a home. As a result, bidding wars are becoming more and more common and buyers can easily find themselves in a multiple offer situation.
Madden Real Estate has decades of experience to help you get through a bidding war in Alaska real estate and we've included a few of the best tips for local buyers in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding communities below!
Set Emotions Aside
In a bidding war, it’s best to set your emotions aside. We know all too well how easy it is to fall in love with a home in Alaska, get your hopes...
If you are a current Alaskan homeowner or renter, now may be the time to consider if your living space is suitable for both your immediate and future needs. Given the high number of buyers in today’s market and rapidly rising home prices, local buyers should act sooner rather than later when it comes to selling your Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole home and moving on to make a purchase.
As your local Alaskan real estate experts, Madden Real Estate understands the importance of moving up (or down!) if it means your home will be better suited to your needs. How can you tell which is right for you this summer? We’re including a few of our best tips for you below!
If you’re not sure if you need to upsize or downsize ...
With the weather warming up, it seems obvious that buyers would be looking more closely at outdoor spaces when shopping for homes in Alaska. In fact, we even shared Outdoor Features Buyers Want This Year in a past blog post! That much is true— however, they may be even more specific when it comes to what they don’t want.
Buyers in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas have a wish list and as the market heats up, their outdoor wants will become more important.
Below are a few outdoor trends to avoid when selling your Alaskan home this season:
Geometric or straight layouts
It used to be a popular trend in outdoor design to have crisp,...
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 debts should I pay down...
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!
In past blog posts, we've shared how you can boost your curb appeal (including adding privacy!) in Fairbanks, Anchorage,...
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.
Alaskan home buyers can expect closing costs to span anywhere from 2 to 5 percent...
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 your options.
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 their credit score is high...
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 to the appraiser and inspection...
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 their homes, realizing that what...
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 of painting over a stained...
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 in Alaska, you'll need...