Anchorage Alaska Market Inventory Report

Below is a brief summary of what the real estate market is doing in Anchorage, Alaska. Please note this is for single family homes and does not include condos, townhouses, or apartments (for that info please feel free to reach out to us).

Most analysts will say that a healthy market has about six months of real estate inventory. As you can see, in the hottest housing markets ($300,000 to about $500,000) we only have an average of a little less than two months! What does that mean? For sellers looking to sell right now, expect your house to sit on the market for less than two months.

It is worth noting that as we extend into the summer months, inventory will rise and these numbers will be momentarily skewed (unless you look at a year average).

We can also say that if your house is around the $200,000 price range, expect a quick sale as your average days on market appears to be the lowest in the market currently.

Lastly, I would also like to say if your house is sitting on the market for much longer than expected as predicted by the indicated numbers, you are most likely overpriced!

Remember, when selling a home it boils down to a few key factors: price, market and advertising - probably in that order.

Sincerely,

James Cash

Properties of Alaska

New Vlog! Interested to see what the Anchorage, Alaska Real Estate market will do in 2016? Watch this video to find out. Please note this video only extends into residential sales for single family homes, apartments, condos and townhouses.

- James Cash

Properties of Alaska

Cash Flow Quadrant - Investing

If you're a fan of Robert Kiyosaki, than you've probably read Rich Dad Poor Dad and have seen the above infographic. It's pretty easy to understand. You are most likely firmly implanted in one quadrant, but can be a combination of many. On the E & S side, you're probably working hard for some one, or working hard for yourself. Either way, it's a lot of work. If your on the B & I side, you're most likely sitting back and managing investments you currently have, or are helping to spin the plates of a business you own. This tends to make people more money, with less work.

Anchorage Real Estate Rental Market

Whether you're looking at or currently investing in single family homes, apartments, condo's, duplexes, fourplexes or even apartment buildings, you know that this can be a lucrative business. With rental prices at all time highs, you are aware of this. Investing in Real Estate in Anchorage, Eagle River or Wasilla is a smart move, and it puts you on the I & B category. This isn't a get rich quick scheme though, it's a get rich slowly. You can always be self-employed (S) or employed (E) and still invest in real estate? How? By using an FHA loan or conventional loan to get your foot in the door. Check out this link for more info: http://www.propertiesofalaska.com/blog/fourplex/

Isn't Owning A Multi Family Property Hard Work?

It can be, but it can also be quite easy. As I tell a lot of my own investors, it depends on your personality type and planning. If you have a system for screening tenants, set aside money for repairs and renovations and don't defer maintenance, owning property as an investment can be quite simple and painless. Sure, you might get a call on a Sunday night from a tenant telling you your heat is out, but you can have half a million dollars in equity in 30 years from doing little to no work.

Where Do I Start?

Start out by understanding your current position: Do you currently own or rent? How's your credit score? How's your loan-ability? Are you working with a lot of cash on hand or not? Once you figure out where you are, the path that you should take becomes quite clear. Remember, the path of a thousand miles begins with just one step!

Regards,

James Cash

Properties of Alaska

6 House Hacks For A Warm February

February is the second coldest month in Anchorage, Alaska. If you want to stay warm, and let's face it, survive, you should following these house hacks to help you out!

Hack 1 - Pipe Insulation

Pipe insulation isn't only for pipes! Have drafty door ways? Go to your local home improvement store and grab some pipe insulation. Measure the length of the bottom of the door, cut the insulation to fit, and slide on the bottom of your door. Bam! No more drafty door ways!

Hack 2 - Warm Clothes

If you're like most people, you dread getting out of bed in the morning to battle the cold demons that rob you of your well earned blanket warmth. We have some ideas to combat that! Go to the gardening section and find a 24-hour timer you can plug other electric powered items to. Connect this to a heated blanket, and stash this in your dresser drawer, or lay on top of your robe or clothes for the morning. Time this for 15 minutes before you wake up and voila, you're jumping out of a warm bed and into warm clothes.

Hack 3 - Cheaper Electric Bill

Ok, so this might not keep you warmer, but if you insulate your pockets with dollar bills it just might! Tired of plugging in your car all night to slowly electrify your way to a higher heating bill? Us too! Get a 24-hour timer like in the above mentioned hack and plug it into your car. Time it for an hour before you're supposed to leave your house to give it ample time to warm up your engine block. Money saved!

Hack 4 - Dutch Oven

Warning - Child Hazard! If you're baking or broiling a dish for dinner, don't let that warm heat go to waste. After you're done cooking, leave the oven open so the extra heat can help warm up your kitchen and dining area for some summer time feels. You know what they say, if you can't stand the heat, open the oven!

Hack 5 - Electric Slippers

Less of a hack, and more of a life necessity. Amazon has ValueRays Heated Slippers for a mere price of $44.90. To purchase these immediately, go here http://www.amazon.com/ValueRays®-Slippers-Warming-Infrared-Solution-Small/dp/B004Y1OQGA. Plug these into your computer in the morning while you catch up on news, or bring them to work in your bag and secretly put them on under your desk. You will now never bow to the soul sucking pain of cold feet. 

Hack 6 - Infero House

Ever read Dante's Inferno? Me either, but I know it sounds really, really warm. Your house will also be really, really warm after this hack. Take some ice or a cold pack and lay it on top of your thermostat, and presto! This is perfect for those who like to simulate living on the equator in June in the comfort of their own home.

There you go! If you're looking to not only improve your quality of warmth in Anchorage, Alaska, but also cary your shoulders with confidence at work knowing you're the only one with warm feet, you've just won. Now you must hastily head to Lowe's or Home Depot and pipe insulate your condo, townhouse, house, apartment or whatever Dr. Suess-esqe house you have going on!

Regards,

James Cash

Properties of Alaska

Tips for Selling your Home in Anchorage, Alaska

As a seller (some one who is selling their home), you're typically looking for just a few items to completely satisfy you.

1. Top Dollar for your home
2. House doesn't sit on the market for elongated periods of time
3. Good real estate experience

While all of those topics can be talked about at length, let's look at getting top dollar for your home in Anchorage.

It Shows Well

We live in Alaska, and there are a few things to help you show it well in the winter / early spring.

1. Make the home warm and inviting - Nothing is worse then stepping into a cold house from a cold winter day!
2. No clutter - All the things you have on your kitchen counter may be necessary, but they don't help sell that house!
3. No personal affects - The pictures of all your kids and the oil-painting self portrait might add some personal flair, but it won't help prospective buyers to imagine themselves in your home.
4. Professional Pictures - If a picture says a thousand words, then a professional photo with good lighting says a million. iPhone photos won't help you like a well staged, well lit professional set of pohotgraphs.
5. Online Presence - In line with quality photos, make sure you give your apartment, condo, or home the text-justice it deserves. Give a great, brief description of why this is the home for them!

Exterior

1. Clean driveways and walk ways - Make sure these are free of snow and ice. We don't want eager buyers to slip and fall before they even enter the home of their dreams!
2. Tidy Exterior - Make sure the walk way is shoveled, and the ice melt is laid! Don't dissuade buyers with the unruly thought of shoveling or de-icing their driveways and walkways.

Be Prompt!

In the age of google, buyers are looking for now. How soon you respond to messages could be a deciding factor on the offers you get. Whether it's a sign call, e-mail, text or telegraph, you or your representation should ALWAYS be responding within five minutes of any inquiry. If you are not, you are missing out on HUGE opportunities to sell your home. You would be surprised how often a client tells me they chose me to help them buy or sell because I was the only one that responded on a Saturday.

There you go! There are some easy tips for you to help sell your home in Anchorage, Alaska during the winter / spring months.

James Cash

Properties of Alaska

We help you buy or sell your home / condo / townhouse / apartment with ease, precision and clear communication.

Interested to see what the Anchorage economy will bring to Alaska in 2016? Click the image for the full report of the ADEC for the 2016 economy. The housing market looks strong!

P.S. Remember, Properties of Alaska is your number one source for Buying, Selling any home, property, land, condo or even apartment building in Anchorage, Eagle River and Wasilla or Palmer.

It's that time of the year again!

Spring is just about on us in Alaska, and Anchorage has no snow. That means it's time to buy houses because you can move boxes without trudging in three feet of snow. Check out this infographic for the home buying process in a nutshell.

For more information on the home buying process, properties, lending programs or anything real estate related, give us a call today at 907-360-7448.

Properties of Alaska

This is an awesome video for the first time home buying process. Click the link below to watch the video

https://www.youtube.com/watch?v=D1VMDFtB76E

What do you need in order to get into your first ever home?

Watch this video to find out!

FHA and VA Fourplex

                        Want to enter into your first Real Estate investment, and live for free? What about start building your portfolio and having some one else pay your mortgage? Of course you do! If you keep reading, I’m sure you will as long as you posses the right mentality, discipline and drive.

Let’s hop right into it. You’ll need the following things:

·      43% DTI (Debt To Income ratio)

·      3.5% Down Payment FHA / 0% Down VA

·      Two Years Tax Returns

·      1-2 Years Steady Work History (less depending on if you just graduated)

·      2-4 Months Reserves (2-4x your mortgage payment)

·      ~640 Credit Score

There are exceptions to every rule, and with the right help from a lender, most of these obstacles can be overcome.

Buy and Hold

I am personally a huge fan of buy and hold Real Estate investing, and this is a great way to get your foot in the door with minimal money out of pocket. Why am I a huge fan of the buy and hold method? Passive income. Any truly wealthy person will let you know that the key to being successful is time leverage, and making money without actually having to work. Think about it. Would you rather make $100,000 a year by doing nothing, or $200,000 a year working 80 hours a week? Your first fourplex won’t make you $100,000 a year, but it will get you well on your way. Oh yeah, AND the fact that in a traditional 30-year fixed mortgage you will own the property and have boat loads of equity with minimal money out of pocket. Talk about return on investment!

What Should You Look For?

            In short, cash flow. Some one once told me, “Cash flow solves all problems”-and it does! There are a lot of variables that go into your calculations, but in short it should be based upon cash flow. A second close to this is exit strategy. If you buy a property that cash flows but it is in the worst part of town, is it really worth it? If you suddenly decide to move and don’t want to long-distance landlord, how easy will this investment be to unload.

            There are many other items like cap rate, debt coverage ratio and so on, but to me those come secondary to above mentioned. If you cash flow well, and you buy a deal in a great part of town, it’s a no-brainer.

As always, there are many more items than this to a real estate investment, but these are the basics of an FHA and VA fourplex to me. Everyone has their own opinion, and there are many strategies to the road of wealth. If you do happen to have any questions, feel free to call, text or e-mail me.

Regards,

James F. Cash

Real Estate Consultant

Real Estate Brokers of Alaska

Properties of Alaska

P. (907)-360-7448

F. (907)-297-2909

E. jamesfcash@gmail.com

W. http://propertiesofalaska.com

Bio: http://propertiesofalaska.com/james-cash

To learn more about FHA requirements, go here: http://www.fha.com/fha_loan_requirements

To learn more about VA requirements go here: http://www.benefits.va.gov/homeloans/purchaseco_eligibility.asp