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Several points today:
1. Real estate is local—not national.
There are parts of the country where home prices are dropping sharplly. California, Texas, and Florida are seeing noticeable declines. But that’s not happening here. Even though our inventory is over 500, it’s still far lower than the 800+ homes we had on the market back in 2019. Anchorage only has 360 houses for sale.
TIP: If you’re in Anchorage, now might be a great time to sell and move to the Valley.
2. Interest rates haven’t dropped (yet).
If they do, prices will almost certainly surge. If you’re a buyer waiting for lower interest rate, dont. Buy now, and if rates drop later, you can always refinance. But by buying today, you lock in today’s price.
3. Seller tip: Get a pre-inspection.
Have your home inspected before putting it on the market, it’ll save you a lot of stress down the road. I actually wrote a blog post about this way back in 2007. Save the hassle, get an inspection.
Would you like to check out any houses? Or find out how much your current home might be worth?
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