Fairbanks Ak Real Estate News & Info

Ok, I've just gotta ask. Who the *%@#& pissed off Mother Nature? I want names, people!

I know you folks in the PNW are used to this kind of rainy weather but we live in an arctic desert. Our annual precipitation comes from SNOW. We've had three weeks of RAIN, RAIN, and more RAIN. Now, according to the boys and girls at the weather service, we're going to have rain through the end of the week.

I think I just sprouted webbed feet.

I haven't heard from the big guy upstairs YET, but I'm thinking it's probably a good idea to start assembling some hand tools, a load or two of 2x12's and maybe, just maybe a pair of moose and a brown bear or two.

And to think we spent all that money on a diesel pusher when we should have bought a floating RV. Geez!

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Thinking about buying or selling real estate in Fairbanks or Interior Alaska? We know Fairbanks real estate – Jesse and Kathy are your local Fairbanks real estate experts. Search Fairbanks homes for sale, sign up for free new listing notifications, view Fairbanks market statistics or browse our virtual relocation package. Have questions? Contact us online or call us at (907) 699-6024. We would love to hear from you.

Hi, Folks. It looks like the Fairbanks real estate market is still somewhat in flux. Existing home sales continue to dominate the market. New construction homes are still relatively soft despite a current Energy Efficiency rebate offering from Alaska Housing.

Lets get the bad news out of the way first. This week 12 homes were sold in Fairbanks; the third week of declining home sales and the lowest sold since the first of June. The average days on the market, while on a decline in June, has increased to 175 for the week ending July 26th. This is a 33% increase in marketing time since June 1st and an 8% increase since July 1st.

With all that doom and gloom you would think there might not be any good news, but take heart, because there is. The good news is that the average price is still climbing, albeit somewhat slower than previous quarters. Our current average of $216,145 is 2.9% above the average 2007 prices and 1.6% above the average sales price for 2008 YTD.

The key, of course, to surviving in this market is to be prepared. Make sure your home is ready for the market by clearing out the clutter, finishing the 'honey-do' list and most importantly, setting a realistic asking price based on current market conditions. I see a lot of sellers who appear to be pinning their hopes on a quick market resurgence.

Not sure how to proceed? That's ok. Contact us online or give us a call at 907.699.6024 and we'll help you every step of the way. Click the images below to open full size in a new window.

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Thinking about buying or selling real estate in Fairbanks or Interior Alaska? We know Fairbanks real estate – Jesse and Kathy are your local Fairbanks real estate experts. Search Fairbanks homes for sale, sign up for free new listing notifications, view Fairbanks market statistics or browse our virtual relocation package. Have questions? Contact us online or call us at (907) 699-6024. We would love to hear from you.

... and you can too!

ANOTHER NEW HOME SOLD

Another smart Fairbanks home buyer just qualified for the $7,500 new construction rebate. This 3 bedroom 2 bath home on a wooded one-acre lot qualifies for the new construction Energy Efficiency Rebate from AHFC.

In the past five years more than 460 new homes representing $100.4 million have been built whereas only 238 ($56 million) have been built in Fairbanks.

Why buy new?

* More choices in design/layout/amenities

* Lower maintenance costs

* Lower heating/cooling costs

* Quality of construction

Now, there's a whole new reason to buy new. Buyers who purchases a qualifying* new home in Fairbanks or North Pole will be eligible for a $7,500 rebate.

$7,500

Use the money to help with your down payment or closing costs. Pay off bills. Take a trip. Pay for your wedding. Invest for the future.

The possibilities are endless.

North Pole is a bedroom community located barely 10 miles from the southeast of Fairbanks. A thriving community of 1,200, North Pole is minutes away from both Fort Wainwright Army Post and Eielson Air Force Base. Noted for being the home of Santa Claus House and the home of Flint Hills Refinery, the population of the North Pole/Badger Road area is growing by leaps and bounds.

There are currently more than 50 new construction homes on the market in North Pole alone. Ready to start shopping for your piece of the last frontier?

Contact us online or call us at 907-699-6024 to get started!

* Property must meet minimum AHFC energy guidelines. Call us for more details.

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Thinking about buying or selling real estate in Fairbanks or Interior Alaska? We know Fairbanks real estate – Jesse and Kathy are your local Fairbanks real estate experts. Search Fairbanks homes for sale, sign up for free new listing notifications, view Fairbanks market statistics or browse our virtual relocation package. Have questions? Contact us online or call us at (907) 699-6024. We would love to hear from you.

Fairbanks Real Estate - Week in Review - 6/22/2008 - 6/28/2008
Jesse Clifton, Broker Associate

Do you remember the story about the little engine that could? Just like that little engine the Fairbanks real estate market is surviving the housing slump that has derailed many real estate markets around the country.

For the week of June 22-28, 18 homes closed escrow. The majority of those (67%) continue to be sales in North Pole, although interestingly, they aren't new construction homes. New construction represented less than 1% of homes sales this week.

Days on the market dropped somewhat this week from 131 to 102 days. In a recent post I delved a little deeper into the Fairbanks days-on-market stats and found some interesting stats. This week 33% of Fairbanks homeowners saw their home sell in under 30 days.

Keep that in mind if you're shopping for a home. Homes priced correctly and in good condition are selling... and in some cases they're selling quickly.

The average sales price came in this week at $220,251. That's a whopping 19.2% increase over this time last year. We've even beat the year-to-date average for 2008 of $211,692.

The Fairbanks real estate market may not be setting any world records, but we are moving forward. If you're in the market to purchase a home, this could be a great time.

Ready to find your piece of The Last Frontier? Contact us online or call 907.699.6024. We are your local Fairbanks real estate experts.

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Thinking about buying or selling real estate in Fairbanks or Interior Alaska? We know Fairbanks real estate – Jesse and Kathy are your local Fairbanks real estate experts. Search Fairbanks homes for sale, sign up for free new listing notifications, view Fairbanks market statistics or browse our virtual relocation package. Have questions? Contact us online or call us at (907) 699-6024. We would love to hear from you.