I thought I’d put a little dose of reality out there for Wasilla area real estate. There is a lot of bad news out there and a lot of it truly is ugly.
If you only like to read the ugly stuff, here is some for today
- Alaskan mortgage manager goes to jail, (thanks to Raney Hardman, REMAX of Eagle River for the link).
- The sub-prime/Hedge fund connection
- Wells Fargo drops 100% financing
The Wells Fargo link doesn’t clarify whether this effects us in Alaska. Perhaps one of the local people can chime in on that.
But, the good news is…we still had 135 single family residential closings this month. That’s down from last year, but it isn’t a crash by any means.
The homes that sell have to be priced very competitively.
Here are the numbers
- August 2007, 135 closings, Average price of $221,442, 67 days on the market.
- August 2006, 143 closings Average price of $228,251, 64 days on the market.
As I mentioned in a previous post, this data is from Alaska MLS and the true difference between this year and last year is likely a little worse than this…but not a lot worse.
