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Anchorage was recently named as the 10th Best City in America to live according to online magazine Businessweek.com. Ranked #10 on the list of America’s Best Places, Anchorage was recognized for its quality of life, educational access and low crime rates amongst other factors. This is the first time Businessweek.com has compiled its list of 50 Best Cities.
In its report, Businessweek.com specifically cited Anchorage for its amount of park acres per person as well as the best air quality of any other city on the list. At 6.4%, our unemployment rate is well below the 8.6% national average reported as of last month. Our low foreclosure rate (0.0053) has kept many Anchorage homeowners out of the mess the rest of the country has experienced in the real estate market over the last few years.
Businessweek.com took 50 of the largest cities in the United States and ranked them according to the following criteria (amongst others):
- Amount of restaurants, bars and museums per capita
- Number of colleges/universities, libraries and sports teams
- Median income
- Unemployment rate
- Crime rate
- Foreclosure rate
- Performance of public school students
- Percentage of population with at least a bachelor’s degree
- Park acres per 1000 residents
- Air quality
The most weight for ranking was placed on air quality, school performance, level of education of citizens and the amount of restaurants, bar, parks and museums available to residents. This study just puts in writing what most Anchorage citizens are already well aware of: Anchorage is one of the best cities in America to live. Let me know if you are interested in purchasing your own Anchorage home so you can enjoy all the benefits Anchorage has to offer for yourself.
Pauline Hofseth, your Anchorage real estate specialist
Originally posted on my Anchorage real estate blog here: http://activerain.com/blogsview/2635440/anchorage-named-top-10-best-city-in-america.
Stop Renting! Buy an Anchorage home now! Anchorage home prices continue to be more affordable, interest rates remain low and inventory levels are still good. But why should you own an Anchorage home instead of renting one? I’m glad you asked. Here are a few things to consider when deciding to stop renting and start buying:
How long will you be in your Anchorage home? The longer you wish to reside in a specific area, the more likely you should buy a home. When you’re a homeowner, the money you pay in your monthly mortgage goes towards paying down your principal, giving you ownership. When you rent, you don’t own any of the property you live in. So, if you plan on staying in one area for at least a few years, owning a home makes good fiscal sense.
How much of a downpayment can you afford? Lenders have become more stringent with their lending practices. The ideal amount of a downpayment on an Anchorage home is 20%. This will not only show the lender how serious you are to purchase your home, but it also saves you money by dismissing the need for PMI (private mortgage insurance) that is required when you borrow more than 80% on a home loan. However, when you consider that 20% on a $150,000 home is $30,000, this can be a big chunk of change. There are still plenty of loan programs available that will allow you to purchase an Anchorage home for less than the recommended 20%, especially if your credit is in good standing. Also keep in mind that your downpayment can’t “suddenly appear” in your savings accounts. It must be seasoned to show your financial responsibility. Just ask me how this all works.
Are you ready for complete financial responsibility? One of the “perks” of renting a home is that someone else is financially responsible if something breaks or needs to be replaced. Owning a home comes with some costs. One thing to consider about renting, though, is that you are also at the mercy of WHEN someone decides to fix something and WHAT they want to replace it with. You are your own landlord when you own an Anchorage home. You decide whom you will use to repair an item in your own home and what you will replace something with. You also currently get the benefit of tax credits on some of the interest you pay on your home loan, which can add up to quite a bit over the first few years. You don’t get that when you rent.
There are plenty of great reasons to stop renting. Buy an Anchorage home now instead. If you need any help or have any questions, please feel free to contact me. I’ve been in the real estate business for more than 25 years.
The days of the oversized home seems to be over. Smaller homes are the new trend. With the economic downturn that the country has been experiencing over the last few years, especially in the housing market, many people are trying to find ways to save money.
The National Association of Home Builders conducted a survey to see what housing trends are on the horizon. They found that today’s Anchorage home buyer is looking for a smaller, “greener” home to occupy. Their study concluded that, by 2015, homes will be approximately 10% smaller on average with more technology than today’s homes.
Smaller Alaska homes are less expensive to heat, cool and maintain than their larger counterparts. Since more than half of the nation’s households contain only one or two inhabitants, a downsized home can still have plenty of space.
Other changes the NAHB study found were that the traditional living room seems to be over. In future building, it will either be merged with the kitchen (like many family rooms are today) or will be a much smaller parlor area that would function more as a study or retreat than a large family gathering area. “Extras”, like a fourth bedroom, third bathroom, media room, second master suite or that third car garage are on their way out in new Alaska home construction as well. Green is in with energy efficient appliances, “low-E” windows (using glass coated with a thin film to keep your Anchorage home cooler in the summer and warmer in the winter), engineered building materials and more water efficient features.
If you’re interested in purchasing a smaller home in the Anchorage area, let me know. I’ll help you see why smaller homes are the new trend, especially here in Alaska.
Pauline Hofseth, your Anchorage real estate specialist
The days of the oversized home seems to be over. Smaller homes are the new trend. With the economic downturn that the country has been experiencing over the last few years, especially in the housing market, many people are trying to find ways to save money.
The National Association of Home Builders conducted a survey to see what housing trends are on the horizon. They found that today’s Anchorage home buyer is looking for a smaller, “greener” home to occupy. Their study concluded that, by 2015, homes will be approximately 10% smaller on average with more technology than today’s homes.
Smaller Alaska homes are less expensive to heat, cool and maintain than their larger counterparts. Since more than half of the nation’s households contain only one or two inhabitants, a downsized home can still have plenty of space.
Other changes the NAHB study found were that the traditional living room seems to be over. In future building, it will either be merged with the kitchen (like many family rooms are today) or will be a much smaller parlor area that would function more as a study or retreat than a large family gathering area. “Extras”, like a fourth bedroom, third bathroom, media room, second master suite or that third car garage are on their way out in new Alaska home construction as well. Green is in with energy efficient appliances, “low-E” windows (using glass coated with a thin film to keep your Anchorage home cooler in the summer and warmer in the winter), engineered building materials and more water efficient features.
If you’re interested in purchasing a smaller home in the Anchorage area, let me know. I’ll help you see why smaller homes are the new trend, especially here in Alaska.
With Anchorage home prices remaining relatively steady, inventory levels high and interest rates beginning to creep up (hovering just over the 5% mark), is now the time to buy an Anchorage home? Many buyers have been trying to time their Anchorage real estate purchase at the “bottom of the market”. No one can predict where that is or when that will be. Instead of looking at what the Anchorage real estate market WILL do, consider WHAT YOU WANT from homeownership.
I want to live in one area for a period of time. Owning a home is still a sound investment, especially for those wanting to set down roots for more than a couple of years.
I want to build up my credit. While appreciation of property may have slowed down, it is still happening. The longer you are in your Anchorage home, the more you pay down your mortgage. Buying a property for a decent price in a good location will bring you equity. Making steady payments will help raise your credit score as well as create a valuable asset.
I am tired of having to answer to a landlord. Renting a home means that you cannot make any changes you want to your home without the landlord’s approval. By owning your own Anchorage home, you are free to paint and decorate however you wish. And, if you decide to move out, you have the option of renting out your own property as a source of income.
Homeownership is a big decision that shouldn’t be taken lightly. For those who are constantly on the move and don’t want to be bogged down in one place for too long, owning your own home may not be right for you. However, if you’re looking to settle down for a bit and want to make an investment in your future rather than simply paying a landlord, you may want to consider buying a home. Contact your local Anchorage REALTOR® today to see if now is the time for you to buy an Anchorage home.
The 2011 property assessment notices for Anchorage homes were mailed out on January 14th. You have until February 13th to appeal your Anchorage property assessment if you find errors or think there may have been a mistake made.
Appealing Your Anchorage Property Assessment Value
Anchorage homeowners must fill out a written appeal form that specifies the reason for the appeal and pay a filing deposit within 30 days of the assessment notice mailing (in this case, 30 days from January 14, 2011). In addition, you must provide evidence that supports the reason for your appeal within 45 days of the notice’s mailing. In some cases, your filing fee may be refundable.
It’s a good idea to contact the Assessors Office or review their website before you file your appeal. During the 30 day time period, the assessments can usually be reviewed and/or adjusted without having to go through a formal appeals process.
Who Can Legally Appeal?
Only the owner of record or someone they have legally assigned to represent them can make an appeal to the Board of Equalization.
Can Property Taxes be Appealed?
No. Only property assessment appeals can be made.
What Info Should be Provided with Your Appeal?
When you file an appeal, the following should be included in the paperwork:
- Your Anchorage property’s parcel number
- Why you believe your assessed value doesn’t reflect the true value of your Anchorage property
- Supporting evidence of your position, such as comparable sales
- Your signature and the signature of your representative (if appropriate)
- A completed appeals form (both sides)
After you send in your appeal, the appraiser will review your paperwork. At that time, they may contact you for more information, if necessary. If you do not agree with their revised value, your appeal will then be sent to the Board of Equalization for a hearing. You are still responsible for your property taxes when they are due, even if you are going through the appeals process. So, make sure you pay them on time to avoid any penalties.
Appealing your Anchorage property assessment is not as scary as it sounds. If you feel that there was an error made, you have every right to check out an appeal. Just make sure you get this done before the February 13, 2011 deadline.
You have a new baby on the way and the Anchorage house you thought was big when you bought it suddenly doesn’t seem so large. Or, you are beginning to work from home and find that the kitchen isn’t really conducive to good business. You may find yourself wondering whether the home you currently live in will hold the changes your family is going through or whether you should just start looking for a new place to live. To move or improve…now that is the question!
To decide whether making a few improvements makes sense or if you should move into another home, you should really ask yourself the following questions:
How long do I plan to live in my current home?
If your home is just a stepping stone to getting another Anchorage home in the next couple of years, investing alot of money into home improvements may not make much financial sense. Also, living in a construction zone can be stressful. So, make sure that the improvements you plan on making will be ones that are worth the stress and sawdust.
When I do sell the home, can I recoup the cost of my improvements?
Not all improvements are alike. Ask your Anchorage real estate agent for your neighborhood comps for Anchorage homes recently sold in your neighborhood to see if your planned improvements are worth the cost. If the cost of improvements prices your home outside the local real estate market, you may want to reconsider whether to continue with the remodeling effort or not. If you still do make improvements, be prepared to absorb some of the cost to do so because you will not be able to recoup the full cost when you sell your Anchorage home.
Do my improvements make sense?
In other words, if you live in an older home and wish to completely tear out the kitchen to install a brand new, $75,000 one, is that really the smart thing to do? Many appraisers believe that making improvements that don’t fit the original design or time period of the home’s construction can be too costly to recoup when it comes time to sell. Also, before you construct that additional room on your home, make sure to check the setback requirements to make sure the addition follows zoning laws and doesn’t actually partially sit on your neighbor’s property.
Is is possible to “over” improve my home?
The simple answer to this question is yes. If you make improvements that put your home’s price point out of touch with the rest of what the neighborhood has to offer, it may take you much longer to sell. The improvements you make to fit your needs may limit who you sell to in the future. If you plan on selling your Anchorage home in the next few years, this is something you should consider before you remodel.
There are many things to consider when you wish to remodel your Anchorage home. Consider and weigh the options before deciding whether to move or improve…that really is the question. If you do decide to sell your Anchorage home, please contact me. I’m here when you need me!
The 2010 Oxygen & Octane Winter Expo takes place in Anchorage beginning Friday, October 8th and continuing through Sunday, October 10th at the brand new Dena’ina Center (600 W Seventh Ave, Anchorage). Sponsored by GoToAK.com and the Alaska National Guard, this free annual event is the premiere winter expo for Alaska, so you don’t want to miss it!
Expo Hours:
Friday, October 8 – 4:00 to 8:00 pm
Saturday, October 9 – 10:00 am to 6:00 pm
Sunday, October 10 – 10:00 am to 5:00 pm
Over 100 vendors will be showcasing the latest in all winter recreation equipment including snow machines, snowboards, skis, snowshoes and more. Enter to win prizes like free ski passes to Alyeska Resort, scuba diving equipment, lift tickets to Hilltop and a new Arctic Cat snow machine. Special discounts on lodging, equipment, travel and more will be available only during the expo. Visitors can attend seminars about avalanche and snow machine safety as well as receive advice from the experts.
Plenty of parking is available in downtown Anchorage’s parking garage and streets. But, since this is the first major trade show being held in the brand new Dena’ina Convention Center, there are sure to be even more people there to check it out. So, be prepared.
Get ready for Alaska’s longest season of fun at the 2010 Oxygen & Octane Winter Expo in Anchorage this weekend. Great food, fantastic deals and lots of fun…what more could you want?
If you are interested in buying an Anchorage home, there are a few common mistakes that buyers can avoid if they know what to look for. You definitely want to keep a list of your questions handy at all times and always hire the right team of professionals for your needs to make sure your Anchorage real estate purchase goes smoothly and effectively.
Choosing the right agent for you - Since both personalities and experience can vary greatly from agent to agent, you should interview several local REALTORS® before deciding which one you want to represent you. Before you interview an agent, get a list of your most important questions together and use them to help you find out their qualifications and if they are a good “fit” for you.
Research lenders – Again, gathering a list of your most important questions will help get the interview process moving along. Ask anything and everything you want to have answers for. With the predatory lending practices of mortgage companies in the past, you want to make sure you understand every aspect of what goes into your mortgage.
No window shopping – If you are looking in an area that is considered to be highly desirable, there will be a ton of competition. A home for sale in a desirable area doesn’t have the same issues as one that isn’t. This means that if you’re not ready to buy at that time, it may not be there when you are ready. So, only look for a home when you are absolutely ready to purchase one.
Think about the future – While you may be fine with the small bedrooms, no master bathroom and a laundry room in the garage, will another buyer feel the same? If you are purchasing an Anchorage home now with the thought of selling it in a few years, you need to consider the home’s resale value. You also want to check out the neighborhood to see if the homes are appreciating in value or if they are on a losing streak. If they are still tumbling in value, that could mean that you may find yourself losing money when it comes time to sell it.
By keeping these common mistakes buyers can avoid in mind when looking for your Anchorage home, you are sure to come out ahead in any real estate transaction. If you are considering purchasing any Anchorage real estate, make sure to contact me today!
Did you think that the “no money down” days of home buying were over? Not according to the National Association of REALTORS®. The NAR conducted a study of homebuyers and sellers from 2009 that showed that 20% of all first-time home buyers and 10% of repeat home buyers bought their homes with absolutely no money down (100% financing). Typically, however, buyers are required to come up with around 8% of the sale price to purchase a home in today’s market. Last year, the historically low interest rates and tax credit incentives helped to sell 5.2 million existing homes. With rates remaining low and down payments remaining small, it looks like there may be another 5+ million homes sold this year as well.
What do you need to get a “no money down” loan? Active members of the military as well as veterans are able to qualify for home loans with no money down much more easily than the rest of the homebuyers out there. With programs like the Veteran’s Affairs Home Loan Guarantee Program, active and retired military members can also purchase a home with very little money up front. Additionally, a homeowner that used a VA loan to purchase their home and ends up in foreclosure means that the homeownership reverts back to the VA. Since the VA is not interested in managing homes, they want to sell foreclosed homes as quickly as possible. Usually, the only way to do this is to sell it with no money down.
If you’re interested in finding out how you can buy an Anchorage home with no money down, I’d be happy to talk to you about your options. Just contact me today. While they are definitely not the “norm”, the “no money down” days of home buyer are no over!
Williwaw park map
A “williwaw” is a violent gust of cold wind blowing seaward from a mountainous coast or a squall.
According to Municipality of Anchorage figures, the population of the area serving Williwaw Park is 26,262, and 32.9 percent of those numbers are under 19. Other information about Williwawa Park includes.
• 8.5 acres
• Accessible play equipment for 2-12 year olds
• Little League ball field
• Parking lot with 21 spaces
Volunteering to rehab Willawaw Park is scheduled for is on schedule for July 24, 2010. On the agenda for “clean and green” is removing graffiti and making the park more presentable.
Williwaw was developed as parkland in 2003 and was intended for use as a little league ball field and small playground.
The Anchorage Park Foundation and the Municipality of Anchorage Department of Parks and Recreation are planning possible improvements to the north Russian Jack Springs Park. Come discuss what you want for the Northwest section of the park, near the corner of 6th Avenue and Pine, at any of three events:
1. Meet at the tennis courts Tuesday, July 20th for a workshop and tour from 6-8pm.
2. Meet at Free Methodist church at 4607 E 6th Avenue on Tuesday, July 27th for a workshop from 6-8pm.
3. On Saturday, July 31st, please join us for Family Fun and a third workshop between noon and 5pm at Russian Jack Springs Park on the corner of 6th Avenue and Pine Street.
For more information, call Anne Brooks at 272-1877 or visit the project planning blog at www.northrjsp.blogspot.com.
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