While you are shopping for a home in Alaska this year, your friends and family will likely offer all kinds of tips and advice relating to the purchase— things they learned from their experience with home buying or information they've heard about the current Alaska real estate market.
But that doesn't mean you should follow every tip they give you; in fact, it is always best to consult your real estate agent with any questions you have.
As your local real estate experts in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond, Madden Real Estate has included four pieces of home buying advice NOT to follow this year to help steer you in the right direction and avoid any regrets later:
Fall can still be a busy homebuying season for those in Alaska and with more sellers confident in listing their Alaskan homes, it's important to keep the real estate rules of the road in mind. Below are just a few real estate rules to remember, like using an experienced real estate agent, that should help you in your home search or sale this fall:
Don't Make an Offer Without Pre-Approval
Know what you can afford. This all starts with a pre-approval, meaning a lender has vetted your credit and financials and is willing to continue with the mortgage process. A pre-approval letter will tell the real estate agent and home seller how much you can afford in a home and the confidence that you are...
With mortgage rates still hovering around historically low rates and home values rising, many Alaska homeowners are currently contemplating a move. 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 experts in Fairbanks, Anchorage, 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 Alaska, the type of mortgage you obtain is crucial. An adjustable-rate mortgage may be for you if you're not planning on being in the home for an extended amount of time. ...
It is a major step to sell your home in Alaska and one that brings many important decisions along with it. Homeowners in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole and beyond will need to tackle choosing when to list, staging and of course, pricing.
Pricing your home is a delicate process and it should be done right from the beginning. With our decades of real estate experience at Madden Real Estate, you can be assured we will arrive at the best price for your property and the area, but as a home seller, it is always wise to do the extra homework.
As you think over the pricing aspect of selling your Alaskan home, here are a few things to keep in mind:
The listing price is key
It's a busy season here in Alaska! In addition to summer vacations and fun in the sun, Alaskan homeowners will also be scheduling moves into the mix. This time of year, there is more time to pack, more time to scout where you'd like to live, more time to house hunt, more time to ensure you're getting the best possible deal and of course, more time to get your own home ready to sell.
Preparing your home to sell in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and the surrounding areas is equally as important as where you're going next. Before you list your property this summer, consider tackling these 5 important tasks that can really make an impact on local Alaskan homebuyers:
Clean out the drains
As you're shopping for homes in Alaska, you're likely taking note of features like paint color, flooring, the number of bedrooms and bathrooms and even yard size. These are all essential in determining whether a property is for you, but there are also a few others that should ultimately raise red flags and cause you to move on to the next home in your search.
With decades of experience in helping buyers in Anchorage, Fairbanks, North Pole, Palmer, Wasilla, and the surrounding areas find their dream homes, I have included three deal breakers below to ensure you're not purchasing an Alaskan home that will be a source of stress later.
Cosmetic elements like paint colors and flooring can easily be changed, but altering the floor plan of a home may not be in the cards—...
For homebuyers in Alaska this summer, saving for the down payment is one of the biggest hurdles in front of the finish line. In the past, we've shared how to start saving for the down payment, but you might be wondering where to keep the money.
Below are four options for risk-free accounts in which you can keep your down payment. You may sacrifice return, but you can be assured the money will be there when you need it to purchase your home in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, or the surrounding areas!
Online savings account
Compare online rates to determine which online savings account is best, but this may be the easiest option for moving around funds. You can track the money easily via online banking and set up transfers in a snap. You also don't need to worry about the bank not being open when you need to pull your down payment....
Buying a home in Alaska is a process that ultimately ends with your closing. However, there can be some bumps along the way that cause the closing date to be pushed back.
Closing delays can be caused by both the Fairbanks or Anchorage area home seller and the homebuyer— but, don't be dismayed! There are steps you can take to ensure the process moves smoothly this summer:
Have your agent help
Once your property is under contract in the Fairbanks, Anchorage, Eagle River, Wasilla, Palmer, or North Pole area, your real estate agent can check in with all of the parties involved once (or more!) per week. An expert real estate agent can notice surprises or changes in the transaction and work ahead to prevent any delays.
Keep in touch with your lender
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, 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:
1. A Down Payment
Did you know nearly half of all ...
We just shared Why You Shouldn't Wait Until Spring to Sell Your Alaskan Home, but now we're taking it a step further and sharing a few things you need to cross off of your homeowner to-do list before you officially list your property.
Remember that you will want to have your home in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole in tip-top shape to outshine the others on the market and as your local real estate experts in Alaska, we are sharing a few tasks below to help you do just that!
Clean the gutters
Once the warm temperatures begin to set in, we're all eager to get outside again— but you're probably not in a hurry to venture up to...
Whether you intend to be in your next home in Alaska for two years or twelve years, it is always important to determine resale value. After all, your home is an investment and you wouldn't want to invest in a property that you would have a hard time selling when the time comes to move on. That would only mean more money and homeowner headache for you down the road!
As your local real estate experts in Fairbanks, Anchorage, Eagle River, Wasilla, Palmer, North Pole, and beyond, Madden Real Estate can help you determine the best possible property for your budget and your family's needs— and one with great resale value! Here are a few ways you can determine a property's resale value in Fairbanks, Anchorage, Eagle River, Wasilla, Palmer, North Pole and the surrounding communities...
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 an agent who has your best...
There's no doubt about it, winter has arrived here in Alaska! But if you have your sights set on a new home in Anchorage, Fairbanks, Eagle River, Wasilla, Palmer, or North Pole for the new year, don't let that stop you from listing your property now! There are plenty of ways to pique buyer interests during these colder months and with Madden Real Estate on your side, you can count on us to help you make it happen!
Home staging is one smart way to grab a buyer's attention and below are five ways to stage your Alaskan home successfully during the winter:
Boost winter curb appeal
Adding winter decor to the exterior of your Anchorage or Fairbanks home can boost your property's curb appeal, but it should lean on the simple side. Try a holiday wreath or fresh greenery outdoors, make sure all pathways are clear of snow for buyers, and consider adding classic white...
While every homeowner's reasons for selling their Alaskan home varies, there are a few significant signs that it's time to move on to a new property. Perhaps you've outgrown the space, your job is taking you to another area, or you're simply ready to take advantage of the current market— no matter what your reasoning is, you can count on Madden Real Estate to help you through the process.
Below are five signs it's time to move on to a new home in Wasilla, Fairbanks, Chugiak, Anchorage, Palmer, North Pole or Eagle River:
The market is booming
When sellers have an edge in the market, it's a great sign it's time to list your property and move on! If buyer demand is high and you have equity in your home (Find out with our Home Valuation!), you might like to sell and ...
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 your credit history over...
When shopping for homes in Alaska, it is easy to get distracted by home features like the number of bedrooms, bathrooms, kitchen updates, backyard, and of course, the location. And while it is important to take note of these items on your buyer wish list, you will want to keep your eyes open for flaws or major problems that could be covered up by home staging.
Below are four signs a Fairbanks AK home seller could be trying to hide something with home staging:
Even though you have pets of your own, that doensn't mean you want to pay for another homeowner's pet damage. If you happen to pull up carpeting in an Alaskan home and notice paint on the floor, the homeowner could be trying to cover up pet damage or water marks.
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 on a ...
After months of the snow and cold, it's finally time to welcome the warm weather, green grass, and sunshine back to Alaska! But even though we'll all be headed outdoors this summer, there are still a few projects to check off of your homeowner to-do list to ensure your property is ready to handle the season.
Powerwash your home's exterior
From the driveway to the siding, the winter dirt and grime can take a toll on your Alaskan home's exterior. Consider renting a powerwasher—or purchasing one if you'll get more use out of it—to get your home looking clean and fresh for the new season.
Seal your deck
If you haven't properly sealed your deck, months of moisture have likely been seaping into the wood which can pave the way to rot and a less-than-ideal appearance. Test a patch by pouring a small amount of water...
Everyone loves a good deal— especially when it comes to real estate! However, in today's real estate market, actually purchasing a home for under asking price can be a rare occurrence. Real estate agents in Alaska—and all over the country, for that matter—typically advise against making lowball offers as you could risk offending the sellers and lose out on the home entirely.
But does that mean it can't be done? No! With the right expert on your side and under the right conditions, you can successfully make a lowball offer on a home in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, or North Pole. Below are four scenarios that would call for making a low offer:
The home is outdated
Home sellers in Alaska can turn a blind eye to the outdated...
Many Alaskan homeowners tend to believe spring is the best time to list their property and prepare to move on to a better, more suitable home. And while they may not be wrong, it is important to note that selling is not always the best answer for every scenario. Depending on how long you've spent in the home and your location—among other factors—it may be ideal to consider staying put and simply making a few improvements.
Below are five questions to ask yourself as you determine whether to sell or renovate your Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, or North Pole home this spring:
How long have you been in the home?
If you have spent decades in ...