This past week I saw in MLS several price reductions, open houses and bonuses to selling licensees—all of which seemed like a return to normal pre-covid marketing activities. Despite the continued shortage of inventory and the 5% plus mortgage interest rates, I Continue Reading
Mortgage Lenders React to Market Shifts with New Loan Programs
Mortgage lenders and their back-end investors are reacting with aggressive new and revised loan programs to help potential buyers disappointed with higher interest rates while they struggle to find an affordable home. Despite the increased 5.75% for today’s Continue Reading
A Mid-Year Perspective on Alaska’s Housing
According to the 2021 U.S. census, there are 327,890 occupied housing units in Alaska which amounts to about two people per household. That’s an interesting statistic but what is even more interesting is the age of the housing stock. The median age for a dwelling Continue Reading
Alaska’s Housing Shortage Continues
The good news is that single family permits have increased from last year. Through April 2022 single family permits rose to 73 compared to 62 in 2021. That’s not much of an increase but it’s a good start with the expectation that lower framing prices will encourage Continue Reading
Good Luck if You are a Condo Buyer
Last month there were only seven condos for sale in Anchorage. On May 17, there were no Anchorage condos for sale less than $274,900 and only a total of five condos for sale above that price point. Yesterday, there were zero condos for sale in Palmer/Wasilla. And Continue Reading
Can Anchorage Build Its Way Out of the Housing Shortage?
Not if the April 2022’s most recent building safety activity report is any indication. Single family building permits are up from 62 to 73 but duplex permits are down from 24 units in 2021 to 8 this year. That’s a breakeven number for the two most desirable housing Continue Reading
The Square Footage of Your Home Just Changed
In April Fannie Mae, a primary investor in residential mortgages for single family homes and townhouses, changed the rules on how appraisers should measure, calculate and report on the gross living area of your home (GLA) and non GLA areas. A non GLA Continue Reading
Anchorage Housing Market: Where We Are Today…
The only surprise in the Anchorage housing market is that the recent bump-up in the 30 year fixed rate mortgage didn’t put a stop on the local buyer frenzy. In fact, it had the opposite effect as buyers raised into the market before another projected increase later Continue Reading
What’s an ARM?
Most buyers are familiar with the 30 year fixed rate mortgage but with higher interest rates the ARM mortgage is becoming the talk of the industry which typically has an initial lower interest rate. An ARM mortgage, according to Madona Rhine-Stack, NMLS #204026, Senior Continue Reading
Advice for Sellers
Despite the widely publicized increase in mortgage interest rates, it is still a seller’s market with only 84 Anchorage single family homes for sale and 31 in Eagle River. However, despite this historic low inventory, sellers still need to take time to prepare Continue Reading
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Connie Yoshimura, Owner/Broker of Berkshire Hathaway HomeServices Alaska Realty.