Wasilla Real Estate News, Valley Market Real Estate

Wasilla Real Estate, Monday Market Memo Oct 6-13-2008 October 14th, 2008

Categories: Monday Market Memo

Wasilla Real Estate statistics for the week of Oct 6–13, 2006.  These statistics include all residential real estate in the Matanuska Susitna Borough.  That is a large area, about the size of the state of West Virginia.  The vast majority of real estate activity takes place in the core area around Wasilla and Palmer.

As you can see, closings were down last week but there were more new listings than I expected to see.  It actually increased our inventory slightly during a time of year when we expect the total inventory to slowly decline throughout the winter.

Notice the low average and median price for this weeks closed listings.  I thought that the low price might be influenced by foreclosed houses.  After reviewing all 16 houses I determined that only two were foreclosures.  Three of the closed houses were new construction.  That shows that we still have a vastly different market than many of the foreclosure influenced markets in the lower 48.

Written by Marty Van Diest Please leave a comment.

Wasilla Real Estate…Monday Market Memo, Sept 29-Oct 6, 2008 October 6th, 2008

Categories: Monday Market Memo

These are the Wasilla and Palmer real estate statistics for the week of September 29 through October 6.  These numbers include all the real estate transactions on the MLS from Talkeetna and Trapper Creek in the North to Sutton and Glacier View in the East.

While the new listings low for the second straight week, the closed sales are high for the second straight week.  At the end of the month it is common for many people to get their deal closed.

As we go into winter time we are will see the inventory shrink.  Many of the homes on the market have been there for a long time and have become stale.  This is a good time to put a well priced home on the market.  It stands out as a new listing and a good price.

As usual, the strongest market is in the low 200K range.  Good houses in this price range find a lot of interested buyers.  If you are looking for a house in this range, give me a call.  907 232–7900 or drop me a line at [email protected]

Written by Marty Van Diest Please leave a comment.

Mat-Su Borough Election This Week. Tuesday Oct 7, 2008 October 4th, 2008

Categories: Wasilla Real Estate News

The overwhelming national and state election news is liable wipe this weeks local election out of our consciousness.  Local elections usually effect us more than national ones do. 

It is important not to ignore this upcoming election. 

Here are a few things on the ballot:

• Road Improvements.  These will be financed by bonds that will be backed by taxes on your property.  The borough is asking for the state to provide 70% of the cost with the borough property owners footing 30% of the bill.  The assembly will not sell the bonds unless the state provides their 70%.    The cost to property owners will be a little over $30 per year for an average $200,000 home. If you are for better roads and don’t mind paying the extra tax…vote yes.   Read more 
• Repeal Electrical Generation Permit  A few years ago the borough passed an ordinance requiring a permit to be granted before any electrical power plant in excess of 50 megawatts can be built.  This is a very restrictive permit process that significantly raises the cost of building a power plant.  This propostion would repeal the permit requirement.  If you want to pay less for your electricity…vote yes.
• School Building Improvements.  This is another bond proposal asking for $19 million to improve the safety of the school sites and upgrade some school buildings and sites.  It qualifies for a 70% state debt reimbursement so it will cost about $14 per year for the average homeowner. 
• School Board Election.  Vote for Pat Purcell.  Other candidates are un-opposed.
• Borough Assembly Election All the candidates are running un-opposed?  What’s with that?

Here is the borough election pamphlet to read more.

I wonder how the bonds will sell in this financial market.  Bonds are backed by property taxes.  Property taxes are based on two things, the value of the property taxed, and the mill rate that the local government charges on those values.

While we have not had declining values in our area yet, other parts of the country have seen drastic declines.  That could raise questions about the stability of municipal bonds.  We have to sell bonds on the global market and I’m not sure how good that market will be.  It may be time for the borough to start thinking about alternative methods of funding these large capital projects.

Written by Marty Van Diest Please leave a comment.

Monday Market Memo 9-22 through 9-29 2008 October 1st, 2008

Categories: Monday Market Memo, Wasilla Real Estate News

Wasilla and Palmer real estate statistics.  These statistics are for single family residential homes in the whole Mat-Su Borough.  The vast majority of real estate transactions take place in the core area of Palmer and Wasilla.

The inventory is dropping drastically as we head into winter.  I expect the total inventory to be under 800 by November and it might get into the 600s by January. 

Although the inventory dropped, the pendings and closed sales were healthy this week.  I personally have been very busy this week with residential sales.  I would say that other people have been busy as well based on this weeks numbers.

Notice the huge discrepancy between average price and median price for new listings…that’s because of this one listing  for almost $3,000,000.  It has 766 acres of pure wilderness.

The charts below are the latest from the Alaska MLS.  Click on them to expand.

Written by Marty Van Diest Please leave a comment.