Wasilla Real Estate News, Valley Market Real Estate

Monday Market Memo for Dec 2-8, 2008 December 9th, 2008

Categories: Monday Market Memo

Wasilla Real Estate News market statistics for the week of Dec 2–8, 2008.  These are the residential single family statistics that include all of the Matanuska-Susitna Borough.  This includes the larger cities of Wasilla and Palmer but also includes all the rest of the borough.

There were 29 new listings this week, but 14 of them were “to be builts” listed by one contractor.  These are homes that don’t even have a foundation in the ground.  The builder is advertising these homes in hopes that someone will want him to build it.  Most of them will not be built unless a buyer steps forward.

The total inventory dropped again this week by a substantial amount.  It will likely go below 700 by the end of the year.

		Average Price	Median Price	DOM
New	29	$241,516	$204,516	.
Total Active	720	$284,545	$230.000	154
Pending	21	$181,005	$199,000	83
Closed	13	$194,923	$199,900	77

Twenty one new pendings is still a healthy number.  I notice that a good portion of them are new construction which proves that builders are still able to compete with the current inventory of homes on the market.  This is in contrast to much of the country where prices have dropped so much that homes are selling for much less than the construction costs.

However $35 dollar oil prices do not look good.  A short term dip in oil prices will not have too much of an effect on the Alaska economy, but if the prices stay low for a year or so, we will see major problems.

I thought this chart was encouraging.  It looks like after March of 2009 the oil companies will be paying us to take their gas.

Written by Marty Van Diest 2 Comments »

Matanuska Susitna Borough Utility Companies December 6th, 2008

Categories: For Buyers

Here is a list of utility companies in the Matanuska-Susitna Borough.

Both buyers and sellers may be able to use this list to sign up for services or to cancel services.

• Enstar Natural Gas  If you have a gas heating system you will need to contact them.
• Matanuska Electric Association This is the only electric company in the valley.
• Matanuska Telephone Association Most people use this phone company. They also have cell services, and direct TV.
• GCI Cable, Long Distance, Cell and other services.
• ACS  Cell phone services
• Alaska Waste Garbage Disposal
• Alaska Digitel Cell phone services
• Palmer Water and Sewer If you live in the city limits of Palmer
• Wasilla Water and Sewer If you live in the city limits of Wasilla

I may be missing some here so I’ll add them as they come up.  Feel free to make suggestions.

Written by Marty Van Diest 2 Comments »

Monday Market Memo, Nov 25-Dec 1, 2008 December 3rd, 2008

Categories: Monday Market Memo

Wasilla Real Estate Monday Memo for Nov 25–Dec 1, 2008.  These statistics are for the whole Mat-Su Borough and include all single-family residential sales.  This means that vacant lots, multi-family, and commercial sales are not included.

This is the first week in the last two years that closed sales have been in the single digits.  This was thanksgiving week so you would expect less activity, especially since the title companies were closed for two days.

Last year thanksgiving week had 23 closed sales so that shows a significant slowdown.

		Average Price	Median Price	DOM
New	22	$229,359	$222,000	.
Total Active	736	$284,333	$235,000	152
Pending	17	$206,643	$169,100	88
Closed	9	$212,944	$214,000	71

We have more than 100 fewer homes on the market this year than we did at the same time last year.  That helps keep things at an equilibrium. 

The 22 new listings this week include quite a few that really need to sell.  About 4 of them are foreclosures and there are other good deals. 

This week, Jay and I pended two homes for clients at what I consider to be exceptionally good prices.  Both buyers were very pleased with the price they were able to negotiate.  If you would like some help looking for good homes…just give a call to 907 373–0999.  We would be happy to help you.

This is the time of year that sellers are willing to look at offers.  I had a realtor tell me about a house yesterday that needs to sell…she said, “bring an offer”, the seller will consider any offer that will allow him to move before Christmas.

Written by Marty Van Diest Please leave a comment.