These are the questions that keep people awake at night if they need a bigger home, in many Alaskans case, their about to be transferred to somewhere else in the country. Currently our real estate market is very stable; interest rates are not fluctuating wildly, and homes prices are stable.

If you looked at the number of homes currently available in Eagle River Alaska, you would only be able to preview 101 existing ready to move into homes. That in a commnity of 31,820 people, and approximately 11,000 homes. That number suggests a strong sellers market. However when you look closely at what is on the market, and how many homes are pending each week the homes going into contract do not keep pace with the new homes coming into the market.

Eagle River Listing Inventory 

• 54 Homes listed in the last 4 weeks
• 22 homes placed into escrow(pended)
• 101 Homes available for sale

The market just south of Eagle River is Anchorage, the Anchorage market is much larger, with close to 300,000 residents. the number of sales is proportionate.

Anchorage Listing Inventory 

The market just north of Eagle River is Mat-Su Valley, this market is much larger, with close to 95,000 residents. The primary markets in the Mat-Su Valley are Palmer and Wasilla.

Palmer/Wasilla Listing Inventory 

• 153 Homes listed in the last 4 weeks
• 89 homes placed into escrow(pended)
• 330 Homes available for sale

New construction homes that are not complete were not included in the listing numbers because many of the new construction listing are not started at this time. They may be included in the pending numbers.

As you can see there is not much to choose from in either market, and the buyers have to make quick decisions when a nice home comes on the market. Sellers should make sure that there home is clean, bright, and ready for viewing before they place it for sale. A good Realtor can show you what to do if you find this task overwhelming.

Interest rates are still at an all time low, and are hovering in that 3.75% and 4% range according to many of the local lenders. Loans are harder to come by and if you do not have a high credit score there are extra fees that you will have to pay to obtain the best rates.

What I take from this data, which is provided by the AlaskaMLS and may not include all sales, is that our market is good, and for the most part balanced. I feel that if a seller has a desirable home they will sell it quickly and for a good price. For buyer there are bargains to be had because some of the homes out there need work.

I lso think that are population is holding onto their homes longer than they have in the past 10 years and thus we have less inventory and sales.

We are back to the new normal.

Call Eric Bushnell @907-360-7471 for more information about these markets or visit him on Facebook at http://www.facebook.com/ericbushnell.realtor 

Well, it might be but before we get to that lets take a look at the snow load on the roof.  With all this snow and the longer days arriving that snow is going to melt and freeze each night.  this will create ice dams on the roof and possible leaking.  You need to get up there and remove the snow, but be careful, it's going to be slick up there. Just do it soon as more snow is in the forecast.

Spring is definitely on the way.  Iron Dog is coming soon, as well as Fur Rondy, then the Iditarod Sled Dog race.  Longer days and warmer temps make Spring in Alaska a great time to get outdoors.  If you have pictures you'd like to share, you can post them on my Facebook page.  www.facebook.com/ericbushnell.realtor

This is when you need to decide if you will selling a home in the spring.  You need to decide which Realtor you will be choosing.  If you're a buyer you're looking at neighborhoods you might want to move to.

See there is lots of activity in January.  Now is when everything begins.  so get crackin! 

Visit www.EricBushnell.com for your real estate needs!

A great little shop in Eagle River Alaska is Picture This!  Full of those special gifts that you need and a wonderful selection of custom artwork by local Alaska artists.  Located next to Jitters coffee house, you can stop in and grab a wonderful cup of coffee, then head into Picture This for your last minute Christmas items.

I've found many very nice items over the years at Picture This.  They have a nice selection of stemware (wine Glasses), little nik naks, and a huge selection of custom jewelery!  They also have great baby gifts, as well as a large selection of Smart Wool gifts.  They will gift wrap your purchase for you while you enjoy a sandwich back at Jitters.  

I like to meet clients here for discussions on properties they be looking at or  to discuss what is happening in the local real estate market.  You will find many friends at Jitters everyday!  You can also find them on Facebook, http://www.facebook.com/picturethisalaska and http://www.facebook.com/picturethisalaska#!/jitterseagleriver. 

You can also find more information about local real estate on my Facebook page, http://www.facebook.com/ericbushnell.realtor!

What do you want for Christmas is what I'm asking my son this year.  I already bought a new laptop for my daughter Aimee, who is in Bolivia.  The computer was sent to her for a late birthday early Christmas present.  My son Blake, on the other hand is quite indecisive, completely different then my daughter at the age of 8.  He seems to be completely satisfied with the status quo.

So what should we get him for Christmas?  He plays hockey, so we're always getting gear.  So maybe a balance board, although he thought I had already bought one (it's in my office waiting for him).  I had to convince him I had not bought one, apparently he's more observant then I thought.  I've been thinking that he's old enough for a small 22 rifle, one that's built for him.  I believe there is a Marlin that may be small enough.  Well, of course we will find some games, and a few books.  Also we buy new Pajamas to open on Christmas Eve, so he's getting a new pair of Christmas Boxers.

My wife on the other hand is a little more challanging.  She said she doesnt really need anything, I know better.  She's been looking at the Fat Tire bikes, if only I could find a 6 pack of Fat Tire Beer from Fort Collins, I could say I misunderstood.  Maybe a little bling, say a new pair of Diamond errings!  Need that special set of Pajamas, she showed me a icture as a hint, but I forgot which store it was from. 

We also have an exchange student living with us, and I need to get her a gift, lucky I have a 16 year old daughter so I do have an idea of what she would like.  I-Tunes cards are always a hit, and ski passes to Alyeska Resort will make her happy.

But what do I want for Christmas?  Anything for hunting or fishing.  Possibly an auger for the lake that would make it so much easier to flood my ice rink.  Hand drilling through 3 ft of ice takes a while.  Maybe a new set of Hockey skates.  But do you know what I would really like?

I know you think I should say World Peace... But a 39 ft Nordic Tug would be so much cooler!

Merry Christmas!

Twas the Night before Christmas Poem

Twas the night before Christmas, when all through the house
Not a creature was stirring, not even a mouse.
The stockings were hung by the chimney with care,
In hopes that St Nicholas soon would be there.

The children were nestled all snug in their beds,
While visions of sugar-plums danced in their heads.
And mamma in her ‘kerchief, and I in my cap,
Had just settled our brains for a long winter’s nap.

When out on the lawn there arose such a clatter,
I sprang from the bed to see what was the matter.
Away to the window I flew like a flash,
Tore open the shutters and threw up the sash.

The moon on the breast of the new-fallen snow
Gave the lustre of mid-day to objects below.
When, what to my wondering eyes should appear,
But a miniature sleigh, and eight tinny reindeer.

With a little old driver, so lively and quick,
I knew in a moment it must be St Nick.
More rapid than eagles his coursers they came,
And he whistled, and shouted, and called them by name!

"Now Dasher! now, Dancer! now, Prancer and Vixen!
On, Comet! On, Cupid! on, on Donner and Blitzen!
To the top of the porch! to the top of the wall!
Now dash away! Dash away! Dash away all!"

As dry leaves that before the wild hurricane fly,
When they meet with an obstacle, mount to the sky.
So up to the house-top the coursers they flew,
With the sleigh full of Toys, and St Nicholas too.

And then, in a twinkling, I heard on the roof
The prancing and pawing of each little hoof.
As I drew in my head, and was turning around,
Down the chimney St Nicholas came with a bound.

He was dressed all in fur, from his head to his foot,
And his clothes were all tarnished with ashes and soot.
A bundle of Toys he had flung on his back,
And he looked like a peddler, just opening his pack.

His eyes-how they twinkled! his dimples how merry!
His cheeks were like roses, his nose like a cherry!
His droll little mouth was drawn up like a bow,
And the beard of his chin was as white as the snow.

The stump of a pipe he held tight in his teeth,
And the smoke it encircled his head like a wreath.
He had a broad face and a little round belly,
That shook when he laughed, like a bowlful of jelly!

He was chubby and plump, a right jolly old elf,
And I laughed when I saw him, in spite of myself!
A wink of his eye and a twist of his head,
Soon gave me to know I had nothing to dread.

He spoke not a word, but went straight to his work,
And filled all the stockings, then turned with a jerk.
And laying his finger aside of his nose,
And giving a nod, up the chimney he rose!

He sprang to his sleigh, to his team gave a whistle,
And away they all flew like the down of a thistle.
But I heard him exclaim, ‘ere he drove out of sight,
"Happy Christmas to all, and to all a good-night!"

If you need to sell your home this is probably what you thinking about.  I've had many conversations over the years with Realtors and Sellers about the merits of having a home on the market during the holidays.  It is my belief that this is one of the best time to sell a home during the winter months. 

I understand we have holidays coming.  Next week is Thanksgiving, for some families Hanukkah is coming next, and then we have Christmas and New Years Day!  We all have events planned, relatives may be coming to visit, or you may be hosting your annual Christmas party.  Lets be honest with ourselves, we always have something going on.  Now is never a great time to change things in our daily routines.

Here's why selling your home right now is a good idea.

First - Your home will be decorated for the holidays and most likely looks very festive.  You will have bright lights, wonderful selling decorations, and the lights will be on showcasing what a wonderful home this is.

Second - By having it decorated show that this home can be lived in and that it is a fun home, it has character. 

Third - There is less competition on the market.  Many people are not reading this blog article and have pulled there home off the market, their going to be smart and wait until next spring and sell it then.  Which is when the snow is melting and your yard will look horrible.  Right now its covered with a blanket of beautiful white snow that sparkles under  Christmas lights you've installed on the exterior of your home, saying look at me, I'm Beautiful!

Fourth - Interest rates are very low right now and provide buyers incentive to purchase.  In the spring there is a good chance they will inch upwards, or worse go way up to 6 or 7%, right now rate are hovering at 4%.  If rates go up buyer budgets go down, which means less people can afford your beautiful home.

So now is the time to put your home on the market.  I am sure there might be a couple of negatives, like the buyers might want to come during your Christmas party, but worst things have happened.  You can always reschedule, or invite them to join you!  You never know what might happen!

Hears to the Holidays and a wonderful New Year!

If you would like to know what it would take to get your home sold right away follow this link and I will contact you shortly!  Sell my Home!  http://www.valuemyalaskanhome.com/

Alaska’s Historic Day in the Senate --

Alaskan Impact: Today in an overwhelming 87-8 vote, Sharon Gleason became the first woman to be nominated as a federal District Court judge in Alaska – where she will serve on the U.S. District Court for the District of Alaska.  Prior to the vote, Senator Murkowski spoke of Gleason’s excellent qualifications:

(Click box to watch)

America’s Energy Update

The Senate Energy and Natural Resources Committee held a hearing this morning on the Quadrennial Energy Review Act (S. 1703), which Sen. Murkowski has co-sponsored. The legislation would require the Department of Energy to conduct a review every four years to help develop a coordinated, government-wide energy policy. Currently, there is no regular, high-level assessment of whether our policies are effective – and whether they can be consolidated, improved or repealed. Given the energy challenges we are facing today, it is appropriate to require something similar to the quadrennial review conducted by the Department of Defense.

6:00am AKDT  

Senate Energy and Natural Resources Committee Hearing

Topic: “Energy’s Quadrennial Technology Review”

Testimony from:

• Energy Undersecretary for Science Steven Koonin
• Ernest Moniz, director of Massachusetts Institute of Technology's Energy Initiative

U.S. Troops Leaving Iraq. What next?

 Alaskan Impact: 550 Alaska-based soldiers will be leaving Iraq next month – but a debate in Washington, DC is asking whether Iran will publicize this as a victory for their “unified resistance.” Today, the Secretary of Defense and the Chairman of the Joint Chiefs of Staff testified before the Senate Armed Services Committee.  The Iran question was asked, along with if we’re leaving enough troops in Iraq to defend our accomplishments.

5:30am AKDT  

Senate Armed Services Committee Hearing

Topic: “Iraq Security Issues”

Testimony from:

• Defense Secretary Leon Panetta
• Army Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff

 Question to Secretary of Defense: Is our withdrawal “a propaganda victory” for Iran?

(Click on box to watch)

House of Representatives – Events

Adapting U.S. Defense for a Frugal Era

Alaskan Impact: Within months, approximately 10 percent of America’s forces on the ground in Afghanistan will be Alaska-based, making it imperative to focus on Pentagon research and development of new technologies to keep Americans safe – especially with looming defense budget cuts. Unmanned Drones developed for Afghanistan have already been employed to help border patrol agents in California and Texas, with plans for more to be added to protect our forces around the world.

6:00am AKDT  

House Homeland Security Committee Hearing

Topic: “Using Defense Technology for Border Security”

Testimony from:

• Mark Borkowski, U.S. Customs and Border Protection's Office
• Paul Benda, Director of the Homeland Security Advanced Research Projects Agency
• Paul Stockton, Assistant Defense Secretary for Homeland Defense

Questioning/Hearing: http://1.usa.gov/rzyFS5

Senator Murkowski began here speach with several references to The Rotary Four-Way Test.  The Four way test is what every Rotarian strives for.

First -Is it the Truth? Second -Is it Fair to All Concerned? Third -Will it build good will and better friendships? Fourth -Will it be beneficial to all Concerned?

The Senator referenced the days when Senator Stevens walked the halls of Congress and kept the Four-way Test on his desk, the only Senator to ever be allowed something extra on his desk in the Senate.  That is how relevant and respected the Four-Way Test is. 

Despite what the press reports; our ambassadors are working with others in Washington to achieve a balanced budget.  Our Senator is fighting to minimize restrictive and irrelevant regulations that inhibit business and job growth.

This morning even though yesterdays report showed limited growth, the talking heads on TV tried to make it sound like the data was false.  That companies were not making money and that the unemployment rate had not dropped.  I realize it was a minor adjustment, but we are not falling off a cliff.

Yesterdays lunch reminded me that there are good people in the world trying to make a difference; and that when you vote it does matter.  We have two very talented Senators in Washington making a difference for our State.  If Senator Lisa Murkowski keeps to the Four-Way Test and can convince other in Washington to do the same, then I think there is a very bright future.

You can contact Eric Bushnell @ 907-360-7471, and there is alsways fresh information about homes in Eagle River at www.eagleriverhomesforsale.com

So what does this mean to our local real estate market?  Inventories are actually down from this time last year, with 2670 total homes available in the Anchorage and Mat-Su markets.  In August the was a 25% increase in sales over last year.  This is not surprising since the First Time tax credit ended last June.  Many of the early year sales would have happened later.  Overall this year there has been a good number of sales each month.  The Mat-Su Market has done about the same as last year, and Anchorage is seen less sales.  The Eagle River market has remained the bright spot in the Anchorage bowl.

What is happening to the prices of Eagle River Homes?

This is the time of year we see some of the bigger discounts on homes as sellers try to sell before winter.  The fall market in Eagle River has traditionally been very good.  There seem to be many buyers in the market and with interest rate on government loans so low (3.75% on a 30 year VA loan), we are seeing many buyers in our market.  There is some uncertainty; and how can there not be when you here the national media crying wolf everyday.

A recent poll on the economy reflected that 75% of Americans were not satisfied with what our lawmakers were doing and felt we were on shaky footing.  But when asked how they were doing 75% indicated that they were stable and dong well.  We know that right no some people are having a rough go of it, but for the most part people seem to be doing fine.  Home ownership may not be the huge wealth building tool it was for many years; however it is an asset worth owning.

For a more detail view of our local economy feel free to call me at 907-360-7471. 

Bids for the repaving of Eagle River Loop Road are in and activity on the project should begin in the next week or so with guardrail and signage work.  Actual paving is not expected to begin until after Labor Day, with completion of the main paving work by mid-September.  A seal coat overlay will be placed next season.

I know that a lot of pople are out and about enjoying the summer.  So far this year the weather has been decent, not great but at least everyday has not been cold and rainy.  so I know that everyone is enjoying themselves.  Dip net fishing on the Kenai River has been awesome, the Eagle River Bear Paw was great and this week I know my wife is hiking the Crow Pass trail from Girdwood to Eagle River.  so there is plenty to do out there.

So with all this going on; what's the real estate market doing.  I've seen recent reports about consumer confidence being down, but that does not appear to be the case here in Eagle River Alaska.  The Mat-Su valley(Palmer/Wasilla) is holding its own compared to last year, and Anchorage is down about 9.5% in the number of homes sold.  Eagle River and Chugiak are up 16.1% so far this year. 

One difference this year is that we are selling more land for new home construction, and as a result of this new home sales are up.  This is much different then what we are seeing in the markets in the lower 48.  It should be noted that many towns in the lower 48 are doing just fine.  Middle America is surviving, even though the talking heads and Wall Street don't give us much credit.

There are tough sales out there, and there is more homes available this year than last.  the selection is good, and some homes are just over priced for their condition or location.  Remember the #1 rule in real estate is location, #2 is condition, and #3 is Price.  You can't change #1, but you can change #2 & #3. 

For more detailed information feel free to call me anytime. 

Remember to rinse your fish before you put them in the smoker, they turn out too salty otherwise, but most importantly...

Enjoy the summer!

Now is the time to get things done, there so not seem to be many large scale construction projects underway at tis time.  New home construction appears to be doing just fine, however I do anticipate a slowing of this in the coming months.  Interest rates have stayed low, allowing buyers to buy homes.

but what will come this fall?

  In 1998 I was asked how the Alaska economy would fare, and I thought it would take 4-5 years before we saw substantial growth.  I believe we are getting closer, but may have another year or two to wait before we see substantial growth increases.  There are more sales, and many of these sales are in raw land, which indicates people want to build more homes.  These are good indicators. 

I've spoken with many people in the construction and companies in oil production and the consensus is that the state is not doing what it needs to.  We need to be proactive.  Sometimes you need to build for the future.  Capitol improvement projects to be undertaken to build this great state.  We have the money to do it and construction costs are not going down.

Now is the time to build for the future

It is mid summer and Alaska is at the cross roads.  Which direction are we going?

I would love to hear what you think.

Today is Friday here in Alaska, and I need to set my priorities!

What should you do, there are so many events here.  There is two or three parades, there's fishing, camping, and of course Mt. Marathon in Seward.  I did hear that the town was already full and no camping spots were available.

Hopefully the weather will be nice for all.  I think we will spend a nice weekend at home, do a parade on the Fourth and hit the picnic at Town Park in Wasilla. 

Happy Fourth of July America!

Can you blame them?

This is normal and we will see them back in the homes shortly.  The market has been good here in Eagle River.  I've been asked several times in recent weeks what is the market doing, and as usual I am happy to say that locally, it is pretty steady.  According to the local MLS there were 20 transactions pend last week here in Eagle River.  That's pretty good, and market supply is holding about 10% higher than last year but is not rising higher like it sometimes does as we approach the summer months.

I've compared the Anchorage, Mat-Su valley, Eagle River markets to see whats what.  How are we doing compared to last year?  Remember last year there was a First Time Home Buyers credit available that fueled many sales.  In comparing the first 5 months of last year to the first 5 months of this year, the Eagle River market has fared better than the other 2.  Our sales volume is up, while their down.  Eagle River is a smaller market and the property prices are above many First Time Home Buyers.  We are more consistent, which leads to stability.

We like Stability!

Now we hope for a warm summer  and lots of sunshine.  Interest rates remain low, new construction is picking up; the Eagle River economy is very vibrant!

"Last evening, the Senate finally passed on the FY11 Capital budget, SB 46,  a spending plan, totaling $2.8 Billion

The needless delay by the Senate in moving the bill forward potentially jeopardized many good projects. The unconstitutional language that bundled $400 million in Energy projects and caused the delay is still in the bill – it needs to be removed.  The Senate has included their projects in this spending plan, and the House now has to insert theirs and include some of the projects the Senate failed to include – the total is certain to grow.

SB 46 is up for public hearing in House Finance today at 9:00-12:00 and again this afternoon at 1:30 to 4:00. Your testimony is needed. You will have to sit on the line and wait your turn.

You need to:

Call in to testify at 1-855-463-5009,

Identify yourself and the bill, SB46

When called on by the Chair, briefly testify - limit to 2 minutes

The following are pertinent points to make with your testimony. Use any, all, and add your own personalized comments

 Urge them to

• Pass a valid Capital Budget
• Failure to pass a Capital budget puts millions in federal funds at risk
• Delete the unconstitutional Senate language that puts a $400 million Energy Package at risk, which includes the Weatherization and Residential Energy Rebate Program

As an alternative, you can email your comments to the finance members"

Representative_Bill_Stoltze@legis.state.ak.us                                   Co-Chair

Representative_Bill_Thomas@legis.state.ak.us                                 Co-Chair

Representative_Anna_Fairclough@legis.state.ak.us                       Vice Chair

Representative_Tammie_Wilson@legis.state.ak.us

Representative_David_Guttenberg@legis.state.ak.us

Representative_Mark_Neuman@legis.state.ak.us

Representative_Mike_Hawker@legis.state.ak.us

Representative_Bryce_Edgmon@legis.state.ak.us

Representative_Mia_Costello@legis.state.ak.us

Representative_Reggie_Joule@legis.state.ak.us

Representative_Mike_Doogan@legis.state.ak.us

Representative_Les_Gara@legis.state.ak.us

It appears that there are shoppers out there, about 3 shoppers for every buyer.  Lots of people wanting to buy a home but their afraid to won one.  The buyers are active and we have seen many offers accepted here in Chugiak and Eagle River.  In looking at the total market numbers compared to last year there was 4.5% less home sales in the first three months of 2011.  That seems to be pretty good since last year we had the first time home buyers credit available.  When we get to the end of June we will see what the true market numbers are.

Right now it apears that we are in a slower, but back to normal housing market.  The economy as a whole appears to be doing ok.  New businesses are opening and there is some new construction underway, housing and commercial.  These are good signs for what is to come.  The only discouraging sign is that many home owners are not selling.  This may be either because they cannot because of what they owe, or they would have to spend too much to move up. 

This has increased the number of new homes being built this year in Eagle River.  Builders are optimistic about the housing market and are starting new homes.  The construction lenders are still tight with the lending, so not all builders can move forward but many are.  This is good for our community, which according to the latest census numbers is now 34,982 people strong.  This number is about the same as the estimate from 2005, but very little building has happened in the last 6 years (I think the estimate was too high).

Now is a great time to sell if you can, and there are some great deals out there for buyers.  Interest rates are low although lending conditions are tight.

I have embedded their trailer here.  The movie debuts May 5 in Anchorage at the Alaska Experience Theatre.