Who Should Pay For The Appraisal? February 23rd, 2007
Closing costs always seem to be a mystery.? Most people say we will just split the closing costs 50/50.? But it?s not that easy! There are certain costs that are traditionally seller?s costs, and certain that are traditionally buyer?s costs.? In?some loan programs it is mandatory that the sellers pick up certain costs. Here are the costs usually paid by the buyer:
- All Loan Fees. These include commitment fees, origination fees, points, credit reports, and lock fees.
- Mortgage insurance.? Or VA funding fees, or rural development fees if required.
- Reserves account.? This is to pay the taxes and insurance as they come due.
- Lenders title insurance.? This is not the Owners Title Insurance paid by the seller
- Home owners insurance
- Inspection fees.? For their home inspection
- Flood review Read the rest of this entry »
Hiding From The Wind In Palmer Alaska February 22nd, 2007
It’s -1 degree this morning in Palmer. Wasilla is reading -15. Forecasts today are for winds to 20 mph with gusts to 40. That Matanuska Wind really magnifies the cold. Hey, it’s clear and beautiful outside! There is always a bright side.
I don’t mind the wind or the cold until it gets really cold, like -20 or more. There are some advantages to being built like a walrus. The cold and wind remind me that we haven’t tamed everything, and that’s a good thing.
Since people often say they like Palmer but don’t like the wind, I thought I would tell you how to live in Palmer and stay out of the wind. But first let me say that the wind blows in Wasilla too. If it’s gusting to 60 mph in Palmer, the gusts are probably hitting 40 in Wasilla. So just because you don’t buy a house in Palmer doesn’t mean you are avoiding the wind.
And, the wind doesn’t blow as much as people imagine. It’s just that you remember it so well when the roof blows off. We have serious wind storms only a few times a year. I’m going to guess 5–8 wind storms that last 3 days or so. I’m no geophysicist so don’t hold me to that. I’m just giving my best guess after living here for 35 years.
OK, where can you get away from the wind.
Beautiful Building Lots Between Wasilla and Palmer February 22nd, 2007
Hart Lake Estates is located in the heart of the Mat-Su Valley. Just about 1/2 way between Palmer and Wasilla.
Some lots have beautiful Mountain views, others are covered with birch trees, and a select few have water frontage on Hart Lake.
Hart Lake Estates is a neighborhood with paved streets that wind through a birch forest. Underground utilities ensure that the views will not be blocked by unsightly power lines.
Wells have proven to be at a relatively reasonable depth with plenty of water. Here is one example. While wells cannot be guaranteed, so far, everyone has found plenty of water without having to go over 200 feet. In fact most wells are under 100 feet. Here is the info for a few more wells in the subdivision:
- Block 3 Lot 7, 76 Feet, 8 gallons per minute
- Block 3 Lot 11, 76 Feet, could not read gallons per minute
- Block 3 Lot 12, 81 feet, 20 gallons per minute, static water level 49 feet
- Block 3 Lot 15, 81 feet, 20 gallons per minute.
The above four wells were all installed by the same well driller. The identical depth is interesting. I talked to the current home owners in lot 7 and lot 12 and they report pretty good water with a little calcium.
Here is data on 19 soils tests the subdivision. This is a very large file so if you don’t have high speed access, don’t click on it…otherwise click here.
The covenants are reasonable, striking a balance between personal freedom while protecting the property values of the neighborhood. Click here to read the covenants. Speaking of neighborhood , the homeowners are already joining forces to have the post office install cluster boxes. These will be individual locking boxes that will be very convenient for all concerned. Homes in the neighborhood range from $250,000 on up to $500,000 or more.
Hart Lake Estates lot prices are in the $40,000 range for good building lots while the water front lots are considerably more valuable. Click on the map on the left to see the prices. Remember, these price are subject to change, the developers reserve the right to raise the price at any time. Right now the prices are extremely attractive. The prices on the map will be kept current. Here is the plat with the actual lot measurements.
Directions: Parks Highway to Wasilla, Right on Main Street which becomes Wasilla-Fishhook Road up Wasilla-Fishhook to Right on Pamela, Right on Frost and you are there. Click for a map, you will see Hart Lake in the center, (the Hart Lake Roads are not on the map, but the access roads are all correct).
5 Ways To Buy Smart February 21st, 2007
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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New Home From Scratch In Less Than 90 Days…$209,900 February 21st, 2007
This is a real nice floor plan, nice enough that when my parents saw it they had one built for themselves. It has vinyl siding, a covered porch, vaulted ceiling, beautiful kitchen and an extra-large garage that is actually finished.
I do not represent Byler Contracting, he is represented by IEC Realty, but I really like this particular plan. I would love to help you with this home, I know of several options that can add to it’s functionality. My parents really enjoy their home, they like the open floor plan in the living room, dining room, and kitchen.
Byler Contracting has a lot in Amberwood Subdivision on which he can build this home for $209,900. He really can build it in 90 days. You won’t see any down time on these homes once the framing starts. They are scheduled very tightly all the way from the floor joists to the final walk-through.
Click on this map to see the location in Amberwood. If you don’t like this location, Byler can build on any lot in the valley. Just let me know and I can help you find a good lot on which to build this house. If you would like a walk-through of this model give me a call.
I enjoy helping buyers with new construction. We can pick and choose among a large group of builders in the valley.
Marty Van Diest, Tele 907.232.7900 / marty[at]valleymarket[dot]com
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