Wasilla Real Estate News, Valley Market Real Estate

Make The Seller Pay Your Downpayment May 31st, 2007

Categories: Wasilla Real Estate News

Many times buyers wonder if the sellers would help with their down payment.  They think that if they come in with a full price offer then the seller should be willing to help them out somehow.

There is a completely legitimate way to do this without getting the FBI after you for mortgage fraud.  It’s called the Nehemiah Program.   My seller just got an offer today using this program, and it looks like it’s going to work! 

This works with an FHA loan and allows the seller to pay the buyers down payment and closing costs.  Depending on the buyer’s income level, they can often purchase a house for as little as 1%.  That includes their closing costs so that a buyer can buy a $200,000 house for only $2,000 total cost.  That’s not much more than a rent deposit.

I have sold many homes with this program over the last ten years, but it’s still amazing how many people have never heard of it.  It’s also interesting how many people have never heard of Nehemiah.  He was the guy who was sent by the Persian king Artaxerxes to rebuild Jerusalem.  That’s the connection with the loan program, it is rebuilding homeownership in America.

I have heard rumors that it might be going by the wayside, time will tell.

Oh…in case you are wondering what’s with the photo…that’s just a teaser for an absolutely fantastic ranch style home hitting the market next week. 

Written by Marty Van Diest Please leave a comment.

Wasilla Real Estate So Far May 30th, 2007

Categories: Market Trends

I took an early look at the first half of the year.  Of course the first half isn’t over until June 30 but comparing the first 5 months of this year to the first 5 months of last year gives us a good feel for where we are.

Last year by May 30 we sold 533 single family homes in the Mat-Su Borough.  The average sales price was $221,014 and it took 62 days to sell each home.  Remember, this is for the whole borough, so this includes cabins outside of Skwentna to houses on the shores of Lake Louise and everything in between.  That makes the average sales price less then if we were only looking at homes in the Wasilla and Palmer area.

This year we have sold 476 homes in the same period for an average price of $230,827.   It took 89 days on the average to sell each of those homes.

The average sales price is UP just over 4% which is a long term average for our area.  Many people seem to think that the prices are dropping but that does not seem to be true.  However, they aren’t rising as fast as many wishful sellers hoped.

The total sold is DOWN about 11% over last year. That, combined with the fact that the number of homes for sale is up almost 25% explains why individual home sellers notice that they are not seeing any action on their homes.

Bottom line for sellers, houses are still selling, but houses that are not price right for their location and condition are going to have so much competition that they may hardly get any showings at all. 

Bottom line for buyers, take a good look at the selection before settling on a house.  There are a lot of very nice homes out there, pick through them to find the one that best meets your needs.  If you are looking for a Realtor that will help you find the home you need rather than SELL you a home, give me a call.  907 232–7900

Written by Marty Van Diest Please leave a comment.

Wasilla Real Estate Deals Of The Week May 29th, 2007

Categories: Deals of the Week

There are some interesting properties in Wasilla real estate this week.  I just finished looking through more than 150 listings and a few stand out.

• A real nice Chalet on Lazy Mountain with more than 2 acres for $220,000
• $48,000 for a lot NEAR Finger Lake.  With a cabin thrown in for $9,000 more
• A 2,800 sq ft house off about mile 5 KGB road with a view, garage, and only 7 years old for less than $100 per sq ft.
• A brand New 3 bedroom 1 1/2 bath house for $149,900

Those are just a few of the places that stand out right now. 

Written by Marty Van Diest Please leave a comment.

Monday Morning Market Memo 5-28-07 May 28th, 2007

Categories: Monday Market Memo

Here are the statistics for the week for Wasilla, Palmer and the rest of the Mat-Su Borough.  It’s interesting how close they are to last weeks statistics.

The inventory continues to grow slowly.  The amount of pendings for this week and last is encouraging.  It shows that there are still a healthy amount of buyers for the area.

The increased inventory gives the buyer a lot of choice.  I showed an out of town buyer about 30 houses in two days all between the $220,000–$250,000 and they were all only a few years old.  By the time he settled on one, he was fairly happy with his choice.

The following bar graphs from the Alaska MLS show an interesting difference in sales prices between Palmer and Wasilla.  They show that the Palmer sales prices are up for the year while the Wasilla prices are down slightly.  Click on the charts to expand.

Palmer

Wasilla

“This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market. “

Written by Marty Van Diest Please leave a comment.

Commission Rates May 24th, 2007

Categories: Commission Rates, Wasilla Real Estate News

Sixty Minutes recently did a piece on real estate agent commission rates. I didn’t see it because I don’t watch TV but I heard and read a lot about it.

In my old website I had a page specifically devoted to my marketing plans and the amount I charged for each plan. I want to begin to reproduce that with this article as an introduction.

I believe that the consumer should have a choice so that they only need to pay for what they need. To that end, I am constantly thinking about and revising the way I do business to help meet consumers choices.

I offer commission rates from 5%-7% for different levels of full listing services. In addition, I have certain fixed fee plans where I will help people with their real estate needs to just help write up a contract, solve a problem, or give marketing advice. I will also work by the hour as a consultant. I will expand on the details in future posts to this website. Stay tuned.

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Written by Marty Van Diest 1 Comment »