fairbanks realtors: Gadget of the moment - 12/10/07 05:39 PM
Ok, so maybe I'm a little on the slow side. No comment, thank you very much. I've been handwriting letters to my mother for years, once a week like clockwork. Who doesn't love getting mail? As long as it's not a bill, I would think most of us. I came across the next greatest thing on Amazon.com this afternoon. How many of us have parents or grandparents that don't use a computer? My mother has one but she swears it's possessed by the devil. I just realized this might be against the AR rules somehow as advertising. If so, someone call … (11 comments)

fairbanks realtors: Fairbanks Alaska Homebuyers: Do You Have A CLUE? - 12/09/07 02:11 PM
Fairbanks Alaska Homebuyers: Do You Have A CLUE?
Ever heard of CLUE? No, I don't mean the board game or the thing friends ask if you have. I'm talking about the Comprehensive Loss Underwriting Database. CLUE is a national repository of insurance claim information.
Insurers use CLUE reports to determine how likely you are to file a claim against your homeowners or auto insurance policy. CLUE reports are generally reviewed prior to issuing a new insurance policy and before renewing an existing policy.
The CLUE database is maintained by ChoiceTrust, an information clearinghouse that has been providing "decision-making technology" since 1977 … (9 comments)

fairbanks realtors: Fairbanks Alaska Real Estate Market Update - December 07, 2007 - 12/08/07 05:33 PM
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fairbanks realtors: Buying A Home: Step 4 - House Shopping - 12/06/07 06:51 PM
You’ve done your homework. You know what your future home should look like in terms of what you need and want in a future home. You’ve hired a buyer’s agent to represent you in the purchase. You’re financing is in place so you know what you can afford and what type of mortgage you feel comfortable paying. Now comes the fun part; house shopping. Your Realtor will be an invaluable asset when it comes time to start touring potential homes. We tell clients to bring a notepad and their digital camera so they can make note of the features of each … (2 comments)

fairbanks realtors: Use Caution: Local Wildlife Is Feeling Frisky - 12/04/07 05:35 PM
The Alaska Department of Fish and Game and the Alaska State Troopers are warning residents to be alert and take precautions again the pack of wolves that are currently roaming around the area.
Residents of 14-30 Mile Chena Hot Springs Road have reported several sightings including some very close encounters. Two dogs have reportedly been killed by very aggressive wolves. A third dog was almost killed but was saved by its owner by chasing the wolves in his vehicle. Other reports put the wolf pack around the Chena Lakes Recreation Area of North Pole.
We're very close to Chena Lakes and … (8 comments)

fairbanks realtors: Fairbanks Alaska New Construction Homes - A Few Questions - 12/03/07 09:24 PM
Fairbanks Alaska New Construction Homes - A few questions to as your builder or representative.
For some it’s the crisp white walls or new carpet while for others it’s that theirs is the first family to call a particular property “home.” I started building homes in 2003, acting more as the bank than general contractor, because buyer clients were finding it difficult to accept some of our more retro properties as the palate for which they were going pain the picture of their new lives.
In the past several years the sale of new construction homes has skyrocketed. Seeing a demand … (2 comments)

fairbanks realtors: Surviving Alaskan Winters - 12/03/07 03:16 PM
Surviving an Alaskan Winter
Well, it looks as though Old Man Winter has finally arrived in earnest. The temperatures are expected to dip to as low as -20; factoring in the wind chill and that number drops to -35. Brrr.
It happens every year and every year we’re not ready for it. As the leaves turn a golden yellow and the fireweed makes its last appearance for the season, we all know winter is just around the corner.
For those of us who have called Alaska home for a while we know that winter just isn’t the same as it used … (3 comments)

fairbanks realtors: Earnest Money: What is it? - 12/02/07 05:47 PM
Earnest Money - What is it? Sometimes referred to as a "good faith deposit", earnest money, or consideration, is a necessary component of a valid real estate contract. In the Fairbanks area, an earnest money deposit of 2% of the purchase price is normal and customary. The funds are deposited into the selling brokers trust account and are considered partial payment for the subject property. As with most everything, the amount of earnest money is negotiable. I have written offers with as little as $10 as earnest money and have requested desposits of $25,000 or more for a custom new construction … (0 comments)

fairbanks realtors: Pricing Your Home; A Strategy For Success - 12/01/07 06:49 PM
The single most important decision you will make concerning the sale of your home is establishing the asking price. Set the price too high and your home will languish on the market with little to no attention from buyers; price it below market value and you will leave equity on the table at closing. Some have referred to pricing homes as equal parts science and art. I tend to disagree. Unless your home is extraordinarily unique there's very little art to it whatsoever. Establishing market value is achieved by comparing homes of similar design, location, amenities, age, size and condition to … (2 comments)

fairbanks realtors: Fairbanks Alaska Real Estate Market Update - November 29, 2007 - 11/30/07 08:40 PM
There are a lot of interesting happenings in the Fairbanks Real Estate market this week. With few exceptions the average sales price and number of homes sold is dropping while the average days on the market is on a steady skyward hike. This week saw three properties close escrow that have been seriously languishing on the market, thus the spike in days on the market this week. Overall market inventory is still relatively high. Current housing inventory, including Delta Junction is 540, which strangely enough was our market inventory last week. The absorption rate (time it takes all active listings to … (0 comments)

fairbanks realtors: Housing issues will slow but not derail economy - 11/27/07 02:51 PM
A new report out today by the US Council of Mayors paints a less than glowing picture of the housing market in the coming year. An estimated 1.4 millions homes, representing an equity loss of $519 billion, will go into foreclosure in 2008 pushing the total loss of equity at a staggering $1.2 trillion. Home prices are projected to decline by as much as 7% nationally while home sales are expected to decline by 10%. This would mean the average sales price in Fairbanks would be back to levels not seen since early 2006 and homes sales would decline to 2004 … (2 comments)

fairbanks realtors: Buying a Home: Step 3 - Selecting an Agent - 11/25/07 05:47 PM
At this point you have done your homework; you know what you personally can and want to afford and you have a pretty good idea of what your future home should look like. Before you begin house hunting I recommend enlisting the services of a qualified agent to represent you in the transaction. Real estate represents the bulk of most American’s total net worth. According to an Investment News report published in July the average investment account balance hovers just above $121,000 while the nationwide average price of a single family home is $211,000. Just as you would hire a professional … (0 comments)

fairbanks realtors: Buying a Home: Step 2 - Financing the dream - 11/21/07 08:40 PM
Now that you have finished your needs and wants assessment and have an idea of what your future home should look like, it's time to start shopping... for your mortgage. Before you cross a single threshold it's important to investigate your mortgage options and secure your financing. The reason for this is twofold; first and foremost it's important to know what you can afford and from there determine what you want to spend. Second and equally important, without having secured your financing, you'll be at a disadvantage to those buyers that have their financing in place when you find your dream … (2 comments)

fairbanks realtors: Buying a home: Step 1 - Evaluate your needs - 11/20/07 03:59 PM
The time has come that you’re ready to buy a home. Perhaps you’ve been renting and are ready to start building equity instead of helping build your landlords or maybe you’re already a homeowner looking to make due to a lifestyle change. Either way, congratulations. Real estate is a fairly unique commodity in that it’s not something you purchase on a whim. Making the best decision means taking the time to do a little planning. By taking a little time of front to identify what your new home should look like you’ll take a great deal of stress out of the … (0 comments)

fairbanks realtors: Manipulating ‘Days on Market’ Stats - 11/19/07 06:34 AM
Some believe Days on Market is a useless statistic while others believe it’s relevant, but shouldn’t be disclosed as it harms the seller. Previously, when a listing expired or was withdrawn, the Days on Market continued uninterrupted if the property was returned to Active status within 90 days of having gone off the market with the same agent. Our local MLS recently effected a rule change whereby members are now allowed to reenter listings immediately upon expiration (or withdrawal) and re-list them, effectively resetting the DOM clock. The rationale behind this rule change was that when sellers re-list their home with … (11 comments)

fairbanks realtors: Property Discovery; Your Rights and Responsibilities - 11/17/07 08:38 PM
Locally, our standard purchase and sale agreements include a fifteen day discovery period beginning at contract acceptance during which buyers have the opportunity to have a “licensed contractor or other qualified professional inspect and investigate the subject property for possible defects…” Most buyers opt to have the home inspected by a structural engineer or professional home inspector. While this is a good start, depending on the property, it may be just that; a good start. Standard tests for general structural integrity, energy efficiency, water quality, radon gas, lead-based paint, soils testing, mechanical (HVAC), electrical, domestic plumbing, wastewater adequacy testing, environmental hazards … (3 comments)

fairbanks realtors: Fairbanks, Alaska Market Statistics Nov 16th - 11/16/07 06:57 PM
Market Statistics for Fairbanks Alaska 11/16/2007 The number of homes sold in Fairbanks dropped for the second straight week to a low of sixteen. The average sales price rose almost 10% to $214,253 while the days on the market increased 37.5% to an average of 66. The number of active listings is also up to a total of 552, putting the absorption rate this week at 4.8 months. 81% of the sales occurred in Fairbanks with only 1 new construction property closing out of almost 140 on the market. Homes Sold Week Ending November 16, 2007 Average Sales Price Week Ending … (0 comments)

fairbanks realtors: 3rd Quarter Market Report (Fairbanks) - 11/04/07 05:20 PM
Monday, November 5, 2007
Good Morning,The 3rd Quarter Market Report is finally up and ready; click the link to the right to download the report in a .pdf. 
Overall the market is in good condition.  The good news is the average sales price is up 1.6% to $214,011 over last quarter.  The less than stellar news is that there are fewer homes selling; those that are selling are taking slightly longer to sell and we're seeing concessions in the form of price reductions of just over 2% of the list price.
New construction has been the hardest hit segment of the … (0 comments)

fairbanks realtors: Fairbanks; The Golden Heart of Alaska - 11/03/07 07:35 PM
The city of Fairbanks is located in Interior Alaska near the confluence of the Chena and Tanana Rivers in the Tanana Valley. We are 360 miles north of Anchorage, 125 south of the Arctic Circle, 3,500 miles from Los Angeles and 4,200 miles from Washington, DC. Nicknamed "The Golden Heart City", Fairbanks is the largest city in the interior region and the second largest in Alaska. Founded in 1901 by Captain E.T. Barnette as a trading post on the Chena River, the community grew and was eventually named after Senator Charles Fairbanks. The discovery of Gold in the hills just north … (0 comments)

fairbanks realtors: Santa’s teeny weeny elf-sized art show - 10/27/07 12:34 PM
Old Saint Nick, North Pole's most famous resident, definitely has his hands busy right now. Aside from keeping all the elves busy making toys and making sure his 'naughty or nice' list is up to date (you have been good, haven't you?), he's up to his elbows in red tape preparing for his upcoming 24 hour round-the-world gift blitz, which btw, is less than 60 days away. Then, of course, he has to make sure Rudolph and the gang is in top to shape for the trip, but despite his increasingly hectic schedule, Santa has graciously agreed to sponsor Santa's Art … (3 comments)