While we are only days away from the new year (and still much more winter ahead!), the upcoming spring season is always a stand-out period for first-time buyers to enter the real estate market.
Why? Mortgage rates are still low, home prices are rising in addition to rents, and first-timers are ready to invest into something of their very own in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond.
But when you are new to purchasing a home, you can overlook the many ways you can potentially save money in the process. Keep the following in mind as you house hunt this spring and as always, do not hesitate to reach out with any questions!
Look past cosmetic issues
Many first-time buyers in Alaska tour a home only to write it off because they didn't...
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—...
With the rising costs of rent in Alaska, it is no longer a smart financial decision for area residents to choose renting over buying. Not to mention, mortgage rates are still historically low!
However, if this is your first time purchasing a home in Alaska, you need to be ready to assume the responsibility of homeownership. Here are four questions to ask yourself to determine if now is the right time for you to buy:
Can you afford the costs?
If you have been saving for a downpayment and other costs over the past few years, you'll be in great shape this summer. You should have enough to cover 20% of the home's purchase price to secure the best mortgage rate and avoid private mortgage insurance (PMI).
It is also wise to be prepared to pay closing costs which can typically range from 2 to 5% of the home's purchase price.
House-hunting can be a lot of fun for new buyers in the Alaska real estate market, but your judgement can also quickly get away from you. It is easy to focus more on features of the home rather than costs like upkeep and utilities and buyer's remorse can set in after you've signed on the dotted line.
But as your local real estate experts in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, North Pole and beyond, it is our priority to ensure buyer's remorse never crosses your mind! Madden Real Estate will work with you to determine your wants versus needs as well as what is realistic for you in terms of price and home size.
In the meantime, keep in mind the following four common sources of homebuyer's remorse, especially as you tour available properties in Anchorage, Chugiak, Fairbanks, Eagle River, Palmer,...
Many Alaska homeowners are left wondering whether or not they should sell their properties once the busy spring and summer seasons are over. While it may seem like the end of the year isn't the best for sellers, the short answer is yes! Today's homebuyers are constantly searching for homes on their smartphones, computers, and even have set up email alerts when a new Fairbanks, Anchorage, Eagle River, Palmer, North Pole, or Wasilla home becomes available and meets their requirements.
Don't be afraid to list your Alaska home during the holidays! It is still an opportune time to sell and as your local experts, Madden Real Estate has included a few tips below on achieving a successful sale!
Boost your online appeal
When you work with Madden Real Estate...
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, foundation,...
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...
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...
The process of buying a home in Alaska can be both exciting and overwhelming, especially if it's your first time conducting a home search. There are many details to get in order, from the number of bedrooms you need to the best location, and it is easy for a few to fall through the cracks. One in particular that is commonly overlooked is the amount you will owe in closing costs.
Many first-time homebuyers in Alaska are not aware of closing costs, but as your local experts in Anchorage, Eagle River, Palmer, Wasilla, North Pole and the surrounding communities, you can count on Madden Real Estate to ensure you know exactly what you're in for in today's real estate market.
What are closing costs?
Closing costs are made...
September is here! Temperatures have started to cool down here in Alaska and it's time to begin thinking about all that fall and the coming months will have in store. And while changing colors and pumpkins are just two aspects to look forward to, wet weather and falling leaves are also major players, so you will want to make sure your Fairbanks AK home is prepared!
Set aside a weekend or two to complete the following five tasks around your Alaskan home this month:
Clean the gutters
When the leaves start to fall and the rainy days become more frequent, it's always helpful to have your gutters in clean, working order. If there aren't there yet, grab your ladder and head up to the roof to give them a thorough cleaning. Gutters should be free of all debris and clogs before the season gets underway....
Excitement runs high when you purchase a new home in Alaska— you start to envision where all of your belongings will go, where your family members will stay, the purposes for each room, you name it. But remember, there is only one person that knows the property better than you at the moment and that is the seller.
In order to avoid any surprises down the road, and to get to know certain quirks that the home may have (that won't be listed on the inspection report!), Alaskan homebuyers can ask the seller the following questions:
What quirks does the home have?
Does the window in the bedroom stick when it gets warmer? Does the refridgerator make noises from time to time? You'll want to gather all...
Spring is an exciting time of year where everything is beginning to come alive again— the weather, the flowers and even, the homebuyers! Many first-time buyers will enter the Alaskan real estate market in the coming weeks and months, ready to land their dream home. However, the truth is if you're not careful or prepared, you could run into the same common obstacles that others have tripped over.
Below are four mistakes that first-time buyers should avoid this spring:
Rushing into the purchase
As you shop for homes in Alaska this spring, it's important that you take your time. Do not feel pressured into a home purchase simply because there are other offers on a property or due to rising ...
When it comes to buying a home in Alaska, there are many moving parts that can easily begin to overwhelm you and cause you to step back. For instance, did you know that misinformation about how much is required for a down payment is one factor that keeps buyers from purchasing their dream home?
Don't let that be you this year! The fear of not being qualified to purchase a new home in Alaska may seem very real, but there are a few simple ways you can keep it affordable!
Strengthen your credit score
Before you take the initial steps to buy a home in Alaska, it's important that your credit score is as high as you can manage. The ball is in your court with this one! Take the...
We recently shared a blog post on the 4 Ways to Successfully Sell Your Alaskan Home This Winter, but now it's time to turn the tables and focus on Alaskan homebuyers! Winter can be an opportune time to find your dream home—even score a deal—and with the help of the experts at Madden Real Estate, you will know exactly what to keep in mind as you browse available properties in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, and North Pole.
Below are four reasons why you're on the right track by shopping for a home in the Alaskan winter:
You can spot flaws
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...
Spring is nearly here and along with the new season will come a wave of activity in the real estate market. More buyers will begin their house-hunting journey for properties in Anchorage, Fairbanks, Wasilla, North Pole, Palmer and the surrounding areas and sellers will take the necessary steps to list their home and move on.
It will be a busy time for moving in Alaska and with the hustle and bustle, many things are bound to be overlooked. Madden Real Estate has put together a list of common things people forget to do before moving to a new home in Alaska so you can cross the added stress off of your list!
Cancel any recurring charges
Memberships and mail orders are two factors that can continue to rack up your credit card bill while you're in the midst of moving in ...
This time of year, schedules tend to pick with festive holiday events, traveling to visit friends and family far and near, gift shopping and as we are in Alaska, winter sports! But even with all of these on your calendar, that doesn't mean that selling your home should be placed on the back burner! The holiday season can be one of the best times to sell your home in the Fairbanks area and waiting to list until spring can cause you to miss out on the advantages in the real estate market right now.
Relocating for the new year
Did you know the holiday season is a popular time for families to relocate? With a job change among the many reasons to move during the winter, many buyers in the market right now are looking for a home to settle into for the new year. Keep...