Fairbanks Ak Real Estate News & Info

The report, issued by Shobhana Chandra of Bloomberg News, says that despite builder’s reduction in inventory, they failed to keep pace with the decline in sales. The price of new home fell to 11.3% from one year ago to an average of $219,200. Sales are off 26%, the most since records began in 1963.

As the saying goes, "All Real Estate Is Local." National trends notwithstanding, local factors such as supply and demand, location, proximity to desired schools and employment, utilities, etc. predominately drive the housing market. How does the national trend compare to the local Fairbanks real estate market?

Comparing December 2007 sales of Fairbanks new construction to the previous year shows we lost a little ground with respect to both units sold and the average sales price. The number of new Fairbanks homes dropped 45% while the average sales price dropped 8.3% from the previous year.

If we look at the selling price history for Fairbanks new construction (to include North Pole) we see that prices have risen 14.2% in the past two years; 36.1% since 2002 and 53.4% since 1999. While external factors are pushing prices down somewhat, looking at the long term trends it seems to indicate that Fairbanks real estate, specifically Fairbanks new construction is still a good investment.

What does a new home in Fairbanks look like? The average Fairbanks new construction home is 1,648 square feet, has 4 bedrooms, 2 full baths and enjoys a .82 acre lot serviced by pubic utilities. The average price for Fairbanks is $257,543. Of the 52 currently listed, 28 are single family homes, 17 are zero lot lines, 6 are condos and 1 is a duplex.

Moving to North Pole new construction, the average home is 1,575 square feet, has 3 bedrooms, 2 baths and sits on a .77 acre lot with only 35% being serviced by public utilities. The average sales price $246,301. Of the 45 currently listed, 38 are single family homes, 4 are duplexes and 3 are condos.

There are many advantages to buying a new construction home over an existing home. Given the rising cost of utilities one of the main benefits is that new homes are much more energy efficient. There is often less general maintenance on new homes built with low or no maintenance materials. New homes can also be tailored to fit your personality; depending on the stage of construction, builders often give buyers a choice of cabinets, countertops, flooring, fixtures, appliances and finish materials. Then there are the emotional draws of a brand new home such as knowing you are the first person or family to fill the closets and cabinets and being the first person to sink into the spa tub in the master suite.

Whatever you're looking for, make sure to perform your due diligence with respect to the builder as well as the property itself. While we have some very unique homes, Fairbanks is proud to have some incredible craftsmen shaping our new neighborhoods. If you have questions or would like more information about new homes in Fairbanks or North Pole, please don't hesitate to contact us. Don't forget to check out our Considering New Construction - A few questions to ask blog.

Jesse & Kathy Clifton, better known as 'The Spouses' are full time Realtors serving Fairbanks Alaska buyers and sellers. They specialize in residential real estate; new and existing construction as well as undeveloped land in Fairbanks, North Pole, Ft. Wainwright, Eielson Air Force Base and Interior Alaska. Visit their website to review the fee market reports designed to keep you updated on the local Fairbanks Alaska real estate market. Have specific questions? Feel free to contact them anytime. They would love to hear from you.

Jesse & Kathy Clifton, better known as 'The Spouses' are full time Realtors serving Fairbanks Alaska buyers and sellers. They specialize in residential real estate; new and existing construction as well as undeveloped land in Fairbanks, North Pole, Ft. Wainwright, Eielson Air Force Base and Interior Alaska. Visit their website to review the fee market reports designed to keep you updated on the local Fairbanks Alaska real estate market. Have specific questions? Feel free to contact them anytime. They would love to hear from you.

Chena River State Recreation Area contains 3 maintained campgrounds, Rosehip, Tors Trail and Red Squirrel Campgrounds located at Mile 27, 39.5 and 42.8, respectively. These are all dry camp sites designed to accommodate everything from tent campers to larger motor homes. Although no power or dump stations are available, each campsite is level with easy access and has a picnic table, fire rings and public restrooms. Both Rosehip and Tors Trail are on or adjacent to the Chena River, so fishing and boating activities abound. Red Squirrel is across the street from the river and features a lake frequently visited by the local moose population.

In addition, and probably more used, are the many river access points where campers are found en masse during the summer months. One of our favorite spots for spending a summer weekend is across the street from Tors Trail parked right on the river. The top right picture was taken from the door of our RV. There's nothing like the sound of a rushing river to fall asleep or wake up to. Fees to camp in the park are very inexpensive at $10 per site; camping at any of the river access points is totally free.

Don't own an RV? Not into tent camping? There are seven State Park public use cabins that are available all year. A quick check shows every weekend except one is reserved through April. Summer reservations should be made very early in the season as weekends are typically not available for last minute trips.

The Twin Bears Camp is great for groups looking for a place to get away to. There are 13 cabins capable of housing up to 100 guests, a dining and recreation hall bordering a beautiful secluded four acre lake. The facilities are available for rent all year, although power and running water are only available from June through August.

Into rafting/canoeing? The Chena River is rated as a Class II river with the upper portions of the river being the most difficult to navigate. Depending on where you start and end your trip, float times range from a few hours to 3-4 days for the trip from Mile 44 Chen Hot Springs Road to Fairbanks. Most day trips originate at the 44 Mile access(the 3rd Bridge) and end at Tors Trail river access (top right photo), which usually take 5-6 hours. Find canoe rentals

Standing midstream with fly road in hand is another great way to spend an afternoon (or weekend). Although the Alaska Department of Fish and Game has designated the Chena River as catch and release only, there are four stocked ponds at mile 30, 42.8, 45.5 and 47.9 where anglers can catch their dinner; all are stocked with rainbow trout and grayling. ADFoG Sport Fishing Brochures

The park features numerous established and off-the-grid trails for hikers and motorized users to enjoy. One of the more popular is the Granite Tors which is a 15 mile loop leading to large granite outcroppings formed between 70 to 90 million years ago. It's not uncommon to find amateur and experienced rock climbers scaling the tors and surrounding outcroppings.

Angel Rocks is much shorter, at 3.5 miles, but is slightly more difficult. The first mile is relatively easy but there's a healthy climb beyond that point. The views are incredible and worth every ounce of effort. There are also numerous trails for atv's or snowmachines throughout the park. The Chena Hot Springs Winter trail runs from 26 mile Chena Hot Springs Road to 50 mile Chena Hot Springs Road, which is just a hop, skip and jump from Chena Hot Springs Resort. Many of these trails are used all year for snowshoeing or cross country skiing, so be mindful of those folks if you decide to let the 'ol iron dog run.

If you spend any amount of time in the park, you'll find that for all the human activity, the park is home to an abundance of wildlife. Moose are very common sights inside the park, but bears (both black and grizzly), wolves, foxes, lynxes, and coyotes all make the occasional appearance. Squirrels, rabbits, porcupines, beavers, otters, martins, minks as well as various birds all call the park home. Bears and You is a good read if you plan on spending any amount of time in bear country.

Although not in the park, Chena Hot Springs Resort, at the end of Chena Hot Springs Road and just outside the park boundaries, is a fantastic place to explore. Soak in the indoor or outdoor natural mineral hot springs, 'chill' in the worlds only year-round ice palace or spend the night in the hotel or guest cabins and watch the Northern Lights light up the winter sky.

Whatever your outdoor recreation desires, the Chena River State Recreation Area has something to offer everyone.

Jesse & Kathy Clifton, better known as 'The Spouses' are full time Realtors serving Fairbanks Alaska buyers and sellers. They specialize in residential real estate; new and existing construction as well as undeveloped land in Fairbanks, North Pole, Ft. Wainwright, Eielson Air Force Base and Interior Alaska. Visit their website to review the fee market reports designed to keep you updated on the local Fairbanks Alaska real estate market. Have specific questions? Feel free to contact them anytime. They would love to hear from you.

Jesse & Kathy Clifton, better known as 'The Spouses' are full time Realtors serving Fairbanks Alaska buyers and sellers. They specialize in residential real estate; new and existing construction as well as undeveloped land in Fairbanks, North Pole, Ft. Wainwright, Eielson Air Force Base and Interior Alaska. Visit their website to review the fee market reports designed to keep you updated on the local Fairbanks Alaska real estate market. Have specific questions? Feel free to contact them anytime. They would love to hear from you.

Jesse & Kathy Clifton, better known as 'The Spouses' are full time Realtors serving Fairbanks Alaska buyers and sellers. They specialize in residential real estate; new and existing construction as well as undeveloped land in Fairbanks, North Pole, Ft. Wainwright, Eielson Air Force Base and Interior Alaska. Visit their website to review the fee market reports designed to keep you updated on the local Fairbanks Alaska real estate market. Have specific questions? Feel free to contact them anytime. They would love to hear from you.