Wasilla Real Estate News, Valley Market Real Estate

Monday Morning Market Memo…4-30-2007 April 30th, 2007

Categories: Monday Market Memo

Wasilla real estate is starting to move.  The numbers in the chart below show that both the pending and closed listings are climbing again this week.  In addition, the days on market is dropping significantly.

The statistics are for the whole Mat-Su Valley for the week of 4/23–4/30.  The average sales times are dropping dramatically.  If you were to peruse some of the previous Market Memos you will see quite a shift.

Even though other parts of the country are watching real estate markets plunge. The local market is still pretty healthy.  That is because the Mat-Su Valley is still the “go to” place in Alaska for anyone wanting a nice lifestyle with some land and good neighborhoods.

Places like Las Vegas, parts of Florida and California where real estate speculation was rampant are seeing foreclosures pop up like spring dandelions.  While this could have a general impact on the whole economy, including Alaska, we have so far been sheltered from many of the direct impacts of collapse of the real estate bubble. 

The chart to the right, (click to expand), shows detailed figures from the Alaska MLS.  This data is 30 days old, (AKmls always looks back 30 days), but still shows interesting information.  It shows that in overall, prices are up by 4%.  There are certain areas where prices are down. 

I believe without actual data to back me up, that we have more foreclosures on the market in our area as well.  I know several Realtors that specialize in listing foreclosures and they have more listings than in past years.  But this is still a minuscule area of the market.

Written by Marty Van Diest 3 Comments »

Gateway Communty Council April 27th, 2007

Categories: Wasilla Real Estate News

I attended the Gateway Community Council meeting last night.? Community councils serve as local ?town meetings? for different parts of the Matanuska-Susitna Borough.? They allow people to discuss issues concerning their neighborhood and?pass their concerns?to the borough assembly.

Among the issues discussed were:

• Matanuska Electric Association plans for a coal fired power plant
• Trunk Road realignment
• Bogard Road extension to the Glenn Highway

The MEA coal fired power plant was the most contentious.? MEA currently buys all it?s power from Chugach Electric.? According to the?general manager?s report,?the contract with Chugach Electric?expires in 2015 so they are planning to bring their own generators online at this time.? They feel they will need about 200 megawatts of power and intend to build two 100 mw plants.? One will be gas powered and one coal powered.

The coal powered plant will use circulating fluidized bed technology which is said to reduce the pollution associated with burning coal.? This is the plant that proves contentious.? Many people associate coal with the dirty smoke stacks of the early industrial era.? I?m not really crazy about the smell of coal smoke myself but I?m willing to explore the issue with new technology.? We certainly have the resource here in the valley and I?m all for producing something for ourselves for a change.? Let?s just put it downwind of my house?

The Trunk Road realignment has been put off for another year.? I think I?ve heard that for about 10 years now.? But it really is moving forward this time.? DOT has actually acquired quite a bit of property along the right-of-way.? We know that is true because we are helping one couple buy a home with the money from the state.? Here is the current map for the new Trunk Road. Notice that it will pass directly east of Shellywoods Subdivision and also just east of Pioneer Peak Elementary.

Bogard Road Extension is moving forward. It is scheduled for construction in 2009.? Here is the current map showing the two alternatives.? There is a place on the website to leave comments should you have any.? It seems that Dowl Engineering is doing a good job using the web as a public meeting.?? This extension along with the Seldon extension out to Church Road will do a great job relieving the congestion on the Palmer-Wasilla Highway.

Speaking of the Palmer-Wasilla Highway, it sounds like there will be four added stop lights this summer.? There will be one at Equestrian Street, Wagon Road, Hyer Road, and one more location that I can?t recall.? I think I?ll use the Parks Highway from now on.

Written by Marty Van Diest Please leave a comment.

Monday Morning Market Memo…Wasilla, Palmer, Matsu 4/23/07 April 23rd, 2007

Categories: Monday Market Memo

Below are the Wasilla Real Estate News statistics for this past week.  It shows pretty much the same thing that we have been seeing for the last few months.  The closed sales remain in the twenties but the pendings are starting to grow. 

There is still a huge gap between the average sales price and the average asking price.  That is why there is also a huge difference in days on the market for the inventory as a whole compared to the closed listings.  The houses that are in the lower price ranges sell fairly quickly.  Higher priced homes are on the market much longer.

Interestingly, the new listings are not growing significantly.  In fact, the total inventory is down as the chart below shows.  Sales are climbing at a healthy rate while we are not getting a surge of new houses on the market.  I believe that is because builders are not building on speculation as much as they did in the past few years. 

The next two charts, (click to expand), show that although we are selling as many and actually a few more houses that we have in  previous years, the average sales price is actually down slightly.  I think we have reached a plateau that will remain until local incomes increase.

Read the rest of this entry »

Written by Marty Van Diest Please leave a comment.

Wasilla and Palmer Wells in the Spring April 22nd, 2007

Categories: Wells

Spring thaw presents a few new problems for??home owners that get their drinking water from a well.? If you haven?t tested your water yet, this may be the best time to do it.? This is just another of the challenges to owning Wasilla and Palmer Real Estate.? Actually, this is a universal issue that we often ignore.

The spring runoff can saturate the ground and bring pollutants from neighboring areas onto your own property.? If your well is in an area where surface water gathers the problem is compounded.?

It is possible that surface water can run down the outside of the well casing to the pittless adapter that is in the side of the well casing about ten feet or so below the surface.? If this pittless is not sealed tightly and it often isn?t.? The ground water can then enter your well itself.?

Think about that for a minute!? Is your well downhill from a nieghbors dog yard, or horse barn?? Even if surface water does not collect around your well, the saturated ground water can still enter your well casing or in some cases with shallow wells it may pollute the aquifer that you are using for drinking water.

Test your water this spring.

Written by Marty Van Diest Please leave a comment.

Mediation…The Best Way To Settle Disputes. April 18th, 2007

Categories: For Buyers, For Sellers

I am currently in Chicago at the National Association Of Realtors headquarters taking mediation training. It has been an eye opening experience.

Mediation in a real estate setting is a way to settle disputes outside of the court room and outside of arbitration.  A successful mediation allows all parties to the dispute to put forth their issues and then the mediator helps guide them to a conclusion that is satisfactory to all.

It’s not like a trial where someone has to prove the facts or defend your innocence.  It is just a guided conversation to help each side understand the other to see if there is any common ground upon which they can agree.  Usually, after seeing the issue from the opposite perspective the parties can agree to satisfactory settlement.

It is much faster, and much less expensive than solving disputes through the legal system.  All parties can get on with their lives without spending huge amounts of money for legal fees and waiting for the uncertainty of a trial.

The parties do not give up any rights to try mediation.  If the mediation is not successful they can go on to the court system.  But 90% of mediations are successful. 

The Valley Board of Realtors provides this service to our members and to the public to help settle any issues that arise as a result of a real estate transaction.  No transaction that I have been involved with has gone to mediation, but I certainly would not hesitate to recommend mediation over the more confrontational means of solving disputes. 

Written by Marty Van Diest 2 Comments »