Market News
The 3.8% real estate tax is back in the news again. The good news is that this tax will not affect most of us, but if you would like to know more details, read this article that outlines the scenarios for people who will be affected.
Are you wondering how the F-16 move could influence home prices in Fairbanks and North Pole? Watch Wes's recent interview on CBS News to find out!
Wes was interviewed on KTVF on the impact the relocation of the F-16s from Eielson will have on the housing market and local economy. Watch the full interview here.
Warren Buffet suggests single family homes as a great investment! Watch the full interview to learn more!
The future of Eielson Air Force Base is up in the air, read the recent article to learn more about the F-16 Squadron being relocated and what that means for Fairbanks and North Pole.
North Pole, AK gets a shout out for being a town where Christmas lives year round. Read the full article.
Planning On Buying A Home In The Next Year? Here's What You Need To Do Right Now!
Fairbanks, Alaska was ranked #7 in the Forbes.com 10 best places to live cheaply!
The Department of Veterans Affairs (VA) has announced changes in their funding fees for VA loans closed on or after 10/1/11. Rates are down from 2.15% to 1.4% for First Time Use! For full details, check out the offical notice from the VA: Funding Fee Changes
Agentgenius.com posted a story on taking the For Sale By Owner (FSBO) approach to selling your home. The article highlights that the former CEO of FSBO listed his 2,000 square foot New York condominium on his own through online classified ads and FSBO sites, but after six months, he opted to hire New York broker Jesse Buckler who immediately advised a price change as the listing was not attracting the right buyer.
He eventually gave up and hired a realtor who sold his home for $150,000 over the asking price. We thought you might be interested in this article. To read the full story, click here.
The February 26 edition of the Wall Street Journal contained an editorial by Karen Blumenthal entitled “Getting a Mortgage Before the Door Shuts”. We found the article very interesting and thought we would pass on its message. In the article, Ms. Blumenthal starts out by saying ”If you have been sitting on the fence trying to decide whether to buy a new house, or refinance a mortgage, you should act soon. New loans are starting to get costlier.” Click HERE to read more.
You should have just received your Fairbanks North Star Borough assessment notices for the 2014 assessment year. If you have been pre-approved for a property tax exemption, the exemption type will be listed in the lower left hand corner of the notice and you need not reapply. If you are applying for the residential property tax exemption for the first time, be sure to sign and date the form, which is the bottom half of the Assessment Notice, and send it to the Assessor’s office. If you are interested in applying for any other exemption, such as the Senior Citizens or Disabled Veterans exemption, contact the Fairbanks North Star Borough (FNSB) Assessor’s office at 459-1429 for information on residency requirements and how to apply.
For qualified homeowners, FNSB offers a Partial Residential Property Tax Exemption. Homeowners can receive and exemption equal to 20% of the assessed value, up to a maximum of $20,000.00 whichever is less, and may be deducted from your residential valuation for computing your property taxes. The exemption applies only to the residential portion of the property. You are entitled to this partial property tax exemption if:
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You own and occupy the property as your primary residence as of January 1, 2014.
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There are no past taxes, penalty, or interest due.
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You sign, date and return the assessment notice to the Assessor’s office by March 31, 2014.
Also, if you feel your assessment is inaccurate or does not reflect the true value of your property, call us and we will be happy to supply you with comparable sales in your area that will help you justify your value. Changes or adjustments can be made, for a limited time only, if you have documentation to prove that a correction should be made. To discuss the valuation of your property you must contact the Assessor’s department during the month of February.
GOOD NEWS!
The Department of Defense (DOD) is proud to offer the Homeowners Assistance Program (HAP) to eligible service members and federal civilian, including non-appropriated fund, employees. The program is authorized by law, and administered by the US Army Corps of Engineers (USACE) to assist eligible homeowners who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement.
The American Recovery and Reinvestment Act of 2009 (ARRA) temporarily expands the HAP to assist service members and DOD employees who are wounded, injured or become ill when deployed, surviving spouses of service members or DOD employees killed or died of wounds while deployed, service member and civilian employees assigned to BRAC 05 organizations, and service members required to permanently relocate during the home mortgage crisis.
For more information, CLICK HERE!
Homeowner Affordability and Stability Plan Fact Sheet