Why You Should Buy a Home in Alaska Before Winter Arrives
While winter has been named one of the best times to buy a home in Alaska, homebuyers may find themselves wishing they had moved before the holiday season rolls around. Schedules will soon grow busier, travel accommodations will be made and planning for the new year will begin, so if you're on the fence about buying a home in Fairbanks, North Pole, Eagle River, Wasilla, Palmer or Anchorage, consider the following reasons to buy now instead of waiting.
Prices are rising
Homebuyers in Alaska will find that prices continue to rise as we head toward the end of the year— and will continue to do so well into 2016. According to a new survey report from over 100 economists and real estate market analysts, price appreciation over the next five years is expected to be between 10.5 percent and 25.5 percent.
Waiting to buy a home in Fairbanks, Anchorage, North Pole, Wasilla or the surrounding communities no longer makes sense!
Mortgage rates are rising
Along with home prices in Alaska, mortgage rates are also on the rise! Rates are currently under four percent, but all four real estate bureaus (Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors) predict a full percentage point increase by the end of 2016.
Both home prices and mortgage rates can make a dramatic impact on your monthly mortgage payment, so be sure to factor the costs of waiting into your decision to buy! You could end up paying more this time next year than if you purchased your dream home now.
You could find a deal
Many home sellers in Alaska that list in the late fall months have a strong motivating factor behind them— a new job, relocation, growing families—and buyers may be able to find a deal! Home prices also tend to be lower this time of year due to fewer buyers in the market. By working with the experienced agents at Madden Real Estate, you may be able to score your dream home at a price you love!
The weather plays a big part in when you decide to move in Alaska and the heart of winter is not always the most favorable. Buying now will allow you to settle into your new home just in time for the holiday season and avoid hauling your belongings during some of the blustery winter weather headed our way!
With our knowledge of the real estate market and expertise in navigating home sales this time of year, we can work together to find the best home for you at the best price. And with our Love It or Leave It Guarantee, you have added security! If you do not love your new home, we will list it for free while you search for one you do!
Contact us today for more information about buying a home in Fairbanks, Anchorage, North Pole, Eagle River, Wasilla and the surrounding communities!