Real Estate Information

Mid Summer Market update for Eagle River Alaska

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!

Mid Summer is drawing near; in the lower 48 the temps are soaring towards record highs, here its on the lower end of the average temperature range, hanging in the mid 60's.  Politics is about the same here as in the lower 48, all the politicians can't get along and nothing appears to be moving forward.

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.

July 1, 2011

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!

Over the years that I've watched different markets I have seen many ups and downs, sometimes the swings are due to the economy, sometimes due to the weather.  The last week has introduced days of beautiful weather here in South Central Alaska, and buyers are looking for something to do besides looking at homes.

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!

I received this e-mail earlier today and thought I would pass it on.

"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

April is almost gone and May begins next week.  Wow, were does the time go.  The last day of school is just 4 weeks away and many families will be ready to move.  This is the time of year that families like to move.  So what is happening in the market?

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 read an article this week in the Frontiersman Newspaper and they mentioned a new film debuting in just a couple weeks.  Cross Current Fishing Adventures has produced what looks like a great film showcasing Fly Fishing in Alaska.

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

What great weather we had this weekend.  I hope that everyone was able to enjoy the sunshine.  While I was out and about I saw lot of people visiting open houses in this weekends Spring Parade of Homes.  The weather was perfect to get out and see these beautiful homes.

There was so much to do this weekend; with the sun out the parks were full.  Area bike trails were alive with activity.  When the weather cooperates like this, we are reminded about how beautiful Alaska is.

This week will be full of activity as homeowners begin to pick up their yards after the winter snow melts away.  Its time to give the yard a good raking and clean out the flower beds.  Spring flowers should be showing up in some beds already, and we will see more soon.  This is a great time to be outside enjoying the warm weather.

Summer will be here shortly and there will be no time for yard work, too many other activities to do.  So, if you are thinking about getting a new home now is the time.  Interest rates remain low, and hopefully will remain there for another couple of months.  Inventory levels of homes remain low, however there are some very nice homes available a great prices.

Spring is here, and remember to get out there and enjoy it!

Dear Friend and Neighbor,

Are you ready to see what your future holds? If your plans include selling your home and moving on to a new chapter in your life, I can help you accomplish this—despite the current buyer’s market.

 Every market — whether hot, normal or cool — holds unique challenges requiring special market insight and skills to overcome them. I have the market know-how to steer you through the choppy waters of today’s marketplace.

 I sincerely hope you’ll give me a call. I want to be your real estate licensee for life — not just for your next transaction. This means that at all times I will represent your interests with both your future and your total satisfaction in mind.

 When you become my "Client for Life," my staff and I solemnly promise to do
everything within our power to …

1. Sell your home in the timeframe you need … 

2. Get you the highest price possible in today’s marketplace … 

3. Market your home to other licensees so that together — as your marketing network — we can bring you only qualified buyers who will find your home a perfect fit …

4. Tell you the truth about your home and the current marketplace even when I know it may be difficult for you to hear, and …

5. Protect you by covering every legal and regulatory base required.

If the past boom market taught us anything, it’s this: no market lasts forever. Right now, home prices are holding fairly steady, and economists aren’t predicting deep price declines. So, if you’re planning to sell, I want to help you get every dollar of profit you have coming. But don’t wait until it’s too late. The very fact that no market conditions last forever is reason to call me right away.

Yours for a stress-free home-selling experience,

Eric M. Bushnell

Associate Broker

P.S. Who says the home-selling experience can’t be one of ease and enjoyment? Give me a call and I’ll prove them wrong. LET’S SELL YOUR HOUSE!