Wasilla Real Estate News, Valley Market Real Estate

5 Ways To Buy Smart February 21st, 2007

Categories: For Buyers

The last few years have seen increases in residential home values at about 10% a year or more in Wasilla and Palmer.  Other parts of the country had appreciation as high as 33% per year, but the Mat-Su Borough had a more reasonable rate of increase.

It was generally possible for about 3 years to buy a house in January and make money on it by June.  In fact, with some new construction homes, between the time the contract was signed to build the home and the time the home was actually finished, the buyer could immediately sell it and make money.  That is because the price was locked in with the builder some months before hand.

Here are ways to make sure you buy smart:

• 1. Buy in a good location.  Remember, 35% of our population commutes to Anchorage for work.  If you buy in a bad commute area, you are eliminating 35% of the buyers when you sell.
• 2. Practice due diligence.  Check that house out before purchasing.  Have it inspected, look at the well and septic information.  Paying for unexpected repairs after purchasing makes it hard to make money on a house.
• 3. Plan ahead.  How long do you expect to stay in the house.  If you only plan to stay for two years or less it may be better to rent.  You may feel that you are throwing money away, but hey, that’s better than losing money.
• 4. Check out the neighbors.  If  the neighbor has a pig farm and you are from Iowa it might smell great!  But your future buyers will only drive by.
• 5. Don’t over pay.  Look at enough houses to feel comfortable with your purchase.  Talk to your realtor about the price.  Compare the price to similar homes.  You must do this yourself.  Almost always the appraisal will meet or exceed the purchase price.

Check out  Deals Of The Week  for some good prices.  Also see Wasilla Real Estate Statistics. 

The cabin in the photo is for sale on five acres.

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Written by Marty Van Diest Please leave a comment.