Do Not Take on Additional Debt After You Pre-qualified With Your Lender

A common mistake is changing your debt to income ratios by making additional purchases on credit.  Even if you have the ability to make the purchase it is advisable that you speak with your lender first.   Lender’s will often run credit checks again before closing.  Sometimes new information on the credit report is enough to delay the process of closing on the house.  This delay may affect the agreed  recording date both you and the seller have been planning on.  Delays in closing can be prevented if your lender approves and processes your new credit information upfront instead of finding out right before you are suppose to close.

Do Not Wait on Your Home Owner’s Insurance

Home Owner’s insurance should be researched early in the process.  It is common for many purchasers to wait just before closing to secure insurance.  These delays sometimes prevent a timely recording.  On rare occasions it is discovered that the home may have prior claims that prevents it from being insured.  It would be good to discover that upfront than 3 days before you are to close.

Do Not Prematurely Lock Your Interest Rate

We often see situations where the lender locks in the interest rate and then there is delay in the closing.  Interest rates are often locked for a specific period of time, usually 30 days.  If the closing does not happen in that time frame the lender often has healthy fees associated with extending your lock period.  A real estate purchase is full of unknowns that may prevent a closing from occurring on time.  Discuss with your lender what the consequences would be in the event you go beyond your rate lock date.

Do Not Set  Your Recording Date for the Last Day of the Month

The majority of real estate transactions are set for the last day or days of the month.  By recording on the last day of the month there are fewer upfront costs associated with prepaid interest.  This savings usually doesn’t amount to much and really isn’t a savings at all but just effects when you make your next payment.   For example, if you record on the 15th of the month you have to come up with about 15 days of interest. Your next payment would be 45 days away.  If you record on the 30th of the month, your next payment would be about 30 days away.

In my opinion, expecting to record on the last day of the month is a foolish thing to do.  Because so many contracts are set this way, it often causes a bottleneck at the end of the month.  It is common to talk to a lender or the title company at that time and hear the stress in their voices as they speak the words “end of the month”.

If a large number of transactions are trying to close at the same time, the “end of the month”, it is unlikely everyone will be successful.   By setting a recording date that doesn’t fall at the end of the month, you are more likely to close on time and not get caught in the typical rush that occurs at month end.

Larry and Jacque Ficek

There have been a few twists to our local market though. There seems to be quite a few new builders competing with each other. So even though the demand has remained steady the share of the pie appears to be split up a bit more. I counted through the existing inventory and came up with about 43 builders that had names displayed. There were about 10 more that didn’t mention the name of the construction company.

81 Listings

$589,900 2985 S Lakeshore Loop
Palmer, AK 99654 Listing office: Prudential Jack White Vista RE Mat Su

IDX

$495,000 3101 N Chandelle Court
Wasilla, AK 99654 Listing office: RE/MAX Dynamic of the Valley

IDX

$449,000 4088 S Timberland Loop
Wasilla, AK 99654 Listing office: Prudential Jack White Vista RE

IDX

$435,000 7833 S Frontier Drive
Wasilla, AK 99654 Listing office: Keller Williams Realty Alaska Group of Wasilla

IDX

$425,000 2706 S Charming Valley Loop
Wasilla, AK 99654 Listing office: RE/MAX Dynamic of the Valley

IDX

$423,500 7961 S Frontier Drive
Wasilla, AK 99654 Listing office: Keller Williams Realty Alaska Group of Wasilla

IDX

$399,900 2735 S Duck Circle
Wasilla, AK 99654 Listing office: RE/MAX Dynamic of the Valley The Real Estate Center

IDX

$395,000 3210 N Snowgoose Road
Palmer, AK 99645 Listing office: RE/MAX Dynamic of the Valley

IDX

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IDX MLS IDX Listing Disclosure © 2013

The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than the site owner are marked with the AK MLS logo and information about them includes the name of the listing brokerage. All information is deemed reliable but is not guaranteed and should be independently verified for accuracy. Site contains live data.

81 Listings

$64,500 L2 No Road Yentna River
Remote, AK 99000 Listing office: RE/MAX Dynamic of the Valley

IDX

$68,000 Tr A-1 No Road
Remote, AK 99000 Listing office: Williams Investments

IDX

$85,000 15509 E Kichatna Lane
Willow, AK 99688 Listing office: McKinley View Real Estate, Inc.

IDX

$95,500 14979 E Fish On Drive
Willow, AK 99688 Listing office: RE/MAX Dynamic of the Valley

IDX

$98,000 13146 N Kacey Circle
Willow, AK 99688 Listing office: Trapline Realty LLC

IDX

$105,500 14974 E Fish On Drive
Willow, AK 99688 Listing office: RE/MAX Dynamic of the Valley

IDX

$124,900 8711 W Grebe Court
Wasilla, AK 99654 Listing office: Peak Realty, LLC

IDX

$129,700 8739 W Grebe Court
Wasilla, AK 99654 Listing office: Alaska Dream Makers

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IDX MLS IDX Listing Disclosure © 2013

The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than the site owner are marked with the AK MLS logo and information about them includes the name of the listing brokerage. All information is deemed reliable but is not guaranteed and should be independently verified for accuracy. Site contains live data.

Follow this link “NEW HOMES” to see what new construction homes are available in Mat-Su Valley right now.

To start off we need to look at what the active inventory was for each month and then see what the sales activity was.  To accurately look at sales activity it is important to look at pending sales and not closed sales.  Pending sales tell us what homes went under contract during that time frame.
Closed data, used in most reports generated by the MLS only shows us what sold/closed in that time frame.  So we have to dig a little deeper to get the real facts.

Here is a quick break down of the market over the past 12 months:

November 2010           69 Pending Sales            833  Active             8%
December 2010           61  Pending Sales            733  Acitve             8%
January 2011                80 Pending Sales            691 Active              12%
February 2011               95 Pending Sales            695 Active             14%
March 2011                  122 Pending Sales            750 Active             15%
April 2011                     126 Pending Sales            815 Active             15.5%
May 2011                      121  Pending Sales           882 Active             14%
June 2011                     120 Pending Sales           934 Active             13%
July 2011                      114 Pending Sales            961 Active              12%
August 2011                 139  Pending Sales           980 Active            13%
September 2011           125 Pending Sales           925 Active              11%
October 2011                105 Pending Sales           850 Active             12%

The column on the right showing the percentage represents  homes that were absorbed into the market.  The higher the perecentage the better the odds of selling based on the market supply and demand for that month.   In the past 12 months April was the best time to sell strictly based on the numbers.

The problem is basing things just by the numbers doesn’t always work.  Lets take an example of two similar homes.  One home has extensive landscaping with a beautiful back yard that includes perrinials, manacured lawn and fruit trees.  The other home has no landscaping, but recently updated the kitchen with solid surface counters.  Let’s also assume that the market value for both of these homes is the same.

If we were asked the question “What is the best time to sell” we may have two differant answers for each home owner.  The property with the landscaping is obviouisly going to be appreciated more during the summer months after the third week of May.  The house that has the remodeled kitchen will stand out more in the Winter months since there is no landscaping and a desired interiour feature.

Today it is about 15 below zero.  I’m sure if we were showing both homes today the one with the solid surface counter tops would stand out between the two.  Obviously it is going to ultimately depend on what the buyer is looking for, but if you can’t see it to appreciate it the odds go down.  Our marketing efforts include placards which help to highlight positive features that may be difficult to see.

As shown with the details above, there are homes that sell every month of the year.  Usually the biggest factor is not going to be when is the best time to sell but is the home show ready, properly priced  and marketed correctly.

We would love the opportunity to help you.  Call us at 907-373-8000

larry@alaskadreammakers.com
jacque@alaskadreammakers.com
Larry & Jacque

Placards are detail cards used to help visually educate buyers and real estate licensees as they go through your home. Typically there are many value added features in homes that go unnoticed even if they get mentioned in the listing detail. The placard will help highlight these features so they don’t get overlooked during your showing, which might help with the buyer’s deciding factor to write an offer.

Examples of using a placard are many. In the winter months it is nice to point out exertiour features that include things that are covered by snow or difficult to observe because it is too cold to walk around the outside of the house. Items like the large deck or the green house that is covered by snow may go unnoticed without a gentle reminder.

Interiour features often get overlooked as well. Sometimes sellers may have upgraded special items that are easily overlooked as a potential buyer tours a home. This could be things like hidden storage or heated floors. An upgraded furnace with an aircleaner might be very important to a buyer with asthma, but you probably wouldn’t notice that walking through a home.

Last year during the same time frame there were 1026 closed sales with 128 being foreclosures. This amounts to 12.5% of the market. The positive I see here is market stability. Although foreclosures remain an active part of our market they still are not dominating our market.

Search Mat-Su Valley Wasilla and Pamer Alaska Foreclosures Here

33 Listings

$224,900 6285 S Settlers Bay Drive
Wasilla, AK 99623 Listing office: RE/MAX Dynamic of the Valley

IDX

$274,900 8749 W Cormorant Way
Wasilla, AK 99654 Listing office: Prudential Jack White Vista RE Mat Su

IDX

$169,900 7055 S Bogle Bluff Drive
Wasilla, AK 99654 Listing office: The Kristan Cole Team Branch Office Keller Williams Realty - Alaska Group

IDX

$265,000 6294 E Sand Point Drive
Wasilla, AK 99654 Listing office: The Kristan Cole Team Branch Office Keller Williams Realty - Alaska Group

IDX

$394,900 712 N Tiffany Drive
Wasilla, AK 99654 Listing office: The Kristan Cole Team Branch Office Keller Williams Realty - Alaska Group

IDX

$166,500 12481 E Kalwies Lane
Palmer, AK 99645 Listing office: Distinctive Properties

IDX

$72,000 4541 N Silver Circle
Wasilla, AK 99623 Listing office: Prudential Jack White Vista RE

IDX

$225,000 10876 E Timber Country Circle
Palmer, AK 99645 Listing office: Distinctive Properties

IDX

$269,900 9410 W Waxwing Street
Wasilla, AK 99654 Listing office: The Kristan Cole Team Branch Office Keller Williams Realty - Alaska Group

IDX

$129,900 4300 S Trellis Avenue
Palmer, AK 99645 Listing office: Century 21 A to Z Realty

IDX

$299,900 2640 S Terrace Loop
Wasilla, AK 99654 Listing office: RE/MAX Dynamic of the Valley

IDX

$145,000 1205 W Woodstock Drive
Palmer, AK 99645 Listing office: RE/MAX Dynamic of the Valley

IDX

$71,900 8809 S Polaris Lane
Wasilla, AK 99654 Listing office: RE/MAX Dynamic of the Valley

IDX

$100,000 7151 E Finger Lake Avenue
Palmer, AK 99645 Listing office: Herrington and Company, LLC

IDX

$120,000 9505 N Doro
Palmer, AK 99645 Listing office: Windermere Avenue Properties, LLC

IDX

$97,900 901 N Gray Court
Wasilla, AK 99654 Listing office: DBL Eagle Real Estate & Inv., LTD

IDX

$150,000 11511 N Stickman Street
Sutton, AK 99674 Listing office: RE/MAX Dynamic of the Valley

IDX

$204,900 4450 S Captian Cook Circle
Wasilla, AK 99654 Listing office: Century 21 A to Z Realty

IDX

$230,900 2444 E Carlson Road
Wasilla, AK 99654 Listing office: RE/MAX Dynamic of the Valley

IDX

$347,900 3945 E Meridian Loop
Wasilla, AK 99654 Listing office: RE/MAX Dynamic of the Valley

IDX

$112,900 3350 E Woodruff Loop
Wasilla, AK 99654 Listing office: RE/MAX Dynamic of the Valley

IDX

$199,900 4200 W Voss Drive
Wasilla, AK 99654 Listing office: RE/MAX Dynamic of the Valley, The Kevin Crozier Team

IDX

$39,000 1801 N Pioneer Peak Drive
Wasilla, AK 99654 Listing office: Prudential Jack White Vista RE

IDX

$135,000 601 E Mulchatna Drive
Wasilla, AK 99654 Listing office: Distinctive Properties

IDX

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IDX MLS IDX Listing Disclosure © 2013

The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than the site owner are marked with the AK MLS logo and information about them includes the name of the listing brokerage. All information is deemed reliable but is not guaranteed and should be independently verified for accuracy. Site contains live data.

Year to date- (It’s November 16th today), there have been 1096 residential sales in the Mat-Su Valley.  Of those sales 52% or 580 reported seller concessions*.  Of those that reported seller concessions the average amount was $4,431 or approximately 2% of the sales price.  What we don’t know is how many concessions were not reported.   If the information is reported correctly it shows that 48% of the sales do not have any seller concessions.

In addition to paying for closing costs the data shows that sellers took an additional 1% less than what the property was listed for.

“About 1/2  of the sales reported show sellers paid about 2% of the sales price towards buyer paid closing costs  in addition to a sales price of 1% less than the list price.  The true number showed approximately a 3% reduction in list to sales price”.

Of the sales that reported no buyer costs were paid, the percent of list price to sold price showed a 4.3% reduction in the list price.  In conclusion the market for the year shows that the average “true reduction in list price” to sales price when concessions are accounted is closer to 3.5%  less than list price.   

With this new data we are better able to explain what is going on in our market.  Knowing the numbers allows us to better advise our clients so they can make informed decisions.

*Seller concessions are buyers closing costs paid for by the seller

An iron dog, for those unfamiliar with the term is a snowmachine and THE Iron Dog is a grueling test of endurance for man and machine. This race is the ‘worlds longest snowmobile race‘ and it runs over 2000 miles. Crazy weather conditions, rugged and unforgiving terrain and some of the most beautiful territory in the world make up this a survival course on snowmachines.

Larry and I went to the start of the race this with my cousins and, although it was cold, we could not imagine what the racers would go through with the windchill factors. Wind chill from the normal weather conditions and also that of the created variety as they race man and machine in the harsh Alaska wilderness.

View the 2000 mile race route map HERE but remember-the state of Alaska is the size of Texas times TWO!

There are FAQ about the racers, machines and terrain in case you have questions. Pretty interesting information about everything from why duct tape is on the racers faces, how the trail is made and how cold it gets (OK, I have to spoil that one. It can get to MINUS 57 degrees F).

The race ends in Fairbanks and the first place finishers are expected to be at the finish line after noon on February 26. If you would like to track the racers by GPS, you can go to the Iron Dog website and check in.

Jacque & Larry

Prior to the race, the line up

The beginning of the race

Even the soda cans are heated so they do not FREEZE in the cold. Imagine what the racers go through!

So perhaps our brains are frozen because of what we Alaskans do in the ‘spring’ months.

This particular set of pictures is from out outing in Anchorage last weekend. The temperature was about oh…ZERO and we bundled up in attempt to defeat cabin fever.

Fur Rendezvous was always a favorite holiday as a kid. I remember bundling up as a family and spending all weekend in our snowsuits, mittens, boots, scarves and the like just to watch the dog races and see the snow sculptures. I even one a prize for a ceramic mouse I entered in the craft festival bout 32 years ago.

Past years favorites: Snow sculptures Carnival Arts and Crafts ShowSome of the new favorites Running of the reindeerSnowshoe softball Frostbite footrace

For a current schedule click here  Fur Rendezvous or visit the website www.furrondy.net

Jacque & Larry

SO it is a little chilly and winds are gusting a little. I decided to play a little and make our own Springtime in Alaska, With Food Coloring!

This is our front yard, a daisy stomped out in the snow and ‘painted’ with food coloring in a spray bottle. Unfortunately I did not have the wherewithal to stand out there to make the colors really pop, but you get the idea.

We hear of it, we live through it and it was even on Mythbusters and the movie The Shining, but cabin fever caught me today!

For those of you that do not know about this winter time ailment aptly named cabin fever, it is a simple albeit seasonal disorder. It sneaks up on you when you are least expecting it and attacks when you least expect it. I survived this affliction today by doing something a little off normal.

Sometimes, you have to MAKE your own sunshine!

Jacque & Larry

Things to Do, Places to Go While in Alaska-Overnight Camping Trip over the Denali Highway

While you are visiting Alaska, you may choose to go camping! Why not take in the fantastic fall colors and take an adventure drive over the Denali Highway? In all our years here and all our travels, this is one road that neither Larry nor I have had the pleasure of traveling until this year (2011). So we packed up some friends, warm camping gear, Tana the poodle and headed north.

Our adventure started as we drove through the still green Birch and Spruce trees of the Matanuska Valley and meandered north through the state toward Cantwell. We left Wasilla (mile 40 of the Parks Highway) passed Talkeetna, neared Mount Mckinley (ok, the park anyway) and made a right at Cantwell (about 160 miles later). As we drove north we could feel the temperature change and see the light yellowing of the trees as fall kissed the leaves.

We were, of course, in full debate as to which we would see first-would it be an eagle? A moose or caribou? Perhaps a bear? Our friends were ready to see a bear but the caribou ‘won.’

Along the Denali Highway, we were very surprised to see how many other campers (hunters too) were out there with us. Much to our surprise, with as many weekend tent cities and hunting stations as there were 100 miles from much of anything, we had a friend (and past client three times over) pull up beside us. Alaska is the largest state in the union but it is still a small world! Allan was doing exactly what we were, exploring our beautiful state and taking pictures along the way.

Our campsite was not perfect and it rained on us all night but, by morning, it was beautiful out and the campfire was perfect for our oatmeal and fresh picked blueberries.

Our 550 mile drive/camping trip and wildlife viewing tour cannot be described any better than in the photos we took. Take a look!

Directions:

From Wasilla, drive north on the Parks Highway toward Fairbanks, take the Denali Highway exit at Cantwell. Follow the 135 mile (much of it dirt but very well maintained) road across to Paxson. Follow to Glennallen (get gas here too before continuing on) and then south to Palmer. From Palmer you can go back over to Wasilla or continue south to Anchorage.

Special Notes:

Services are very limited! Medical may be available in Delta Junction, Cantwell and Glennallen but there is not much available while on the Denali Highway.

Fill up your gas tank before heading on the highway. Bring your snacks and drinks, protection from wildlife, extra gear and warm clothes with you. Don’t forget your camera!

There are a couple of places to stay but they are limited and on a first come first served basis, otherwise a warm tent and camping gear makes for a great adventure in itself.

The Denali Highway is typically open from mid May to October unless you are on a snow machine adventure. Snow and drifts often makes the road impassible. 

Have fun on your adventure and stay safe!

Jacque & Larry