The Alaska Real Estate Market is Hot!!!

The American desire to own a second home as a vacation home is alive and well!

As the following article will point out, the market is doing great.  Here in the Matanuska-Susitna Valley we are seeing multiple offers on everything and Days on Market is only a few days for a properly priced property that is in good condition. 

 After living through the economic crash as well as the real estate crash in Minnesota it is a wonderful thing to see the market thriving as it is here in Alaska.

I have attached an article showing the Vacation home trend.  We are seeing lake properties moving quickly here as well.

The National Association of Realtors analysis of U.S. Census Bureau data shows there are approximately 8 million vacation homes in the U.S. Their 2014 Investment and Vacation Home Buyers Survey shows vacation home sales improved substantially in 2013.

NAR Chief Economist Lawrence Yun said favorable conditions are driving second-home sales:

“Growth in the equity markets has greatly benefited high net-worth households, thereby providing the wherewithal and confidence to purchase recreational property,” he said. “However, vacation-home sales are still about one-third below the peak activity seen in 2006.”

Here are the key findings from the report:

Raw Numbers

• Vacation-Home sales rose 29.7 percent to 717,000 from 553,000 in 2012
• Sales accounted for 13% of all transactions last year, up from 11% in 2012
• The median price was $168,700, compared with $150,000 in 2012, reflecting a greater number of more expensive recreational property sales in 2013
• 42% of vacation homes purchased in 2013 were distressed homes (in foreclosure or short sale)

Buyer Profile

• The typical vacation-home buyer was 43 years old
• The median household income was $85,600
• Buyers plan to own their recreational property for a median of 6 years
• 33% said they were likely to purchase another vacation home within two years
• 82% of all second-home buyers said it was a good time to buy (compared with 67% of primary residence buyers)

Reasons for Purchasing

Lifestyle factors remain the primary motivation for vacation-home buyers:

• 87% want to use the property for vacations or as a family retreat
• 31% plan to use it as a primary residence in the future
• 28% wanted to diversify their investments or saw a good investment opportunity
• 23% plan to rent to others

Location

• 41% of vacation homes purchased last year were in the South
• 28% in the West
• 18% in the Northeast
• 14% in the Midwest

The vacation homebuyer purchased a property that was a median distance of 180 miles from their primary residence (down from 435 in 2012)

• 46% were within 100 miles
• 34% were more than 500 miles

Financing

• 38% of vacation-home buyers paid cash in 2013
• The median down payment was 30%, up from 27% in 2012

Meadow Brook Subdivision in Palmer, Alaska

Homes for Sale in the Meadow Brook Subdivision - Palmer, AK

Looking for a home in Meadow Brook Subdivision?

If you are interested in finding a home for sale in the Meadow Brook Subdivision of Palmer, AK please click on the link for immediate information about homes for sale.  If you would like to know a bit more about the neighborhood I have included a few facts and links that may be helpful for you. 

Why Do People Live in Meadow Brook?

Meadow Brook is a beautiful neighborhood of single family homes that are conveniently situated between the cities of Palmer, AK and Wasilla, AK. It's not uncommon to see neighborhood kids playing in the streets during the summer and sledding down snow covered streets in the winter. The neighborhood is active year round with people walking their dogs or getting out for an evening run.

What's the Neighborhood Like?

The homes you would expect to find for sale in the Meadow Brook Subdivision are generally going to range between 1700 and 2700 square feet. Most of the homes were originally built by Jess Hall Homes back in the early 2000's.  The smallest homes in the neighborhood start with 2 bedrooms while the larger floor plans have a four bedroom layout and there is even one with seven bedrooms.  Most of the lots range from over 1/3 acre to 3/4 of an acre. When looking on a Google map or using an electronic devise this area is often referred to as Gateway.

What's Going on Nearby the Meadow Brook Subdivision?

Meadow Brook is conveniently located just off the Parks Highway and is an Excellent commute location to Anchorage and JBER.  Mat-Su Regional Medical Center is close by as well as big box discount shopping areas, most chain fast food establishments, as well as the local movie theater within 10 minutes. In addition we have a wonderful collection of local favorite restaurants, including Locals, Turkey Red, Pioneer Pizza and the Noisy Goose.  Downtown Palmer offers a variety of gift and specialty stores and caters to the local market with the Mat-Su Farm Market year round.  Colony Day's festival in the Summer and Colony Christmas as well as Friday Flings in Palmer which is another Farmers Market style of event are all well attended events.  Find out about Meadow Brook and the surrounding area's community information including banks, schools, shopping and what the community statistics are at my web page.

What Schools will the Kids Attend?

If you buy a home for sale in the Meadow Brook Subdivision of Palmer AK, the local schools serving this area are Pioneer Peak Elementary School & Fred and Sarah Machetanz Elementary, Colony Middle School, and Colony High School. To get local school scores and more information about these schools check out the Palmer school reports on my website.

Now You Really Want to Find a Home Here, Right?

If you are interested in the current homes for sale in Meadow Brook Subdivision of Palmer AK click on the link. Our 'for sale' property information is a direct feed from the Alaska MLS and is updated multiple times per day.

To Search for Homes in the Palmer, Wasilla, Houston and other areas please visit my site.

5 Reasons to Buy a Home Now Instead of Spring

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five reasons purchasers should consider buying before the spring market arrives:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

Price Increases Are on the Horizon

Prices are projected to appreciate by over 25% from now to 2018. First home buyers will probably pay more both in price and interest rate if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.

Owning a Home Helps Create Family Wealth

Whether you are rent or you own the home you are living in, you are paying a mortgage. Either you are paying your mortgage or your landlord’s. The Fed, in a recent study, revealed that the net worth of the average homeowner is 30 times greater than that of a renter.

Interest Rates Are Projected to Rise

The Mortgage Bankers Association, the National Association of Realtors, Freddie Macand Fannie Mae have all projected that the 30-year mortgage interest rate will be over 5% by the this time next year. That is an increase of almost one full point over current rates.

Buy Low, Sell High

We would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Predictions are that pricing and interest rates are to rise.  If buying low and selling high is a goal of yours, now may be the time.  There is no way to predict the future and the exact timeline but all indicators do seem to be favorable.

Reprinted from The KCM Crew, February 2014.

Buying a Home: Should You Do it Now or Later?

Last month, the Federal Reserve, in a unanimous vote, decided to further decrease its bond purchasing. The bond purchases were the government’s stimulus package created to keep long term mortgage interest rates artificially low in order to help drive the housing market. Most experts believe that tapering will cause interest rates to increase as we move through the year.

Interest rates have remained relatively stable since the onset of the tapering in December. This is probably because the first round of increases had already been ‘priced into’ the equation last summer when rates skyrocketed by over a full percentage point just on the speculation that tapering would take place later in 2013.

However, as we move forward, most analysts believe rates will start to rise culminating in a rate close to a full percentage point higher than current rates by this time next year. For example, Freddie Mac, Fannie Mae, The Mortgage Bankers’ Association and the National Association of Realtors have all recently projected rates to be between 5-5.4% at this time next year.

Bottom Line

If you are a first time buyer or a move-up buyer, the cost of the mortgage on your new home will probably increase as we move through the year. If the timing makes sense, buying sooner rather than later may save you a substantial amount of money over the long term in lower mortgage payments.

As reported the KCM CREW in February

Homes for sale near Palmer Middle and High School

Homes for Sale near Palmer Middle and High School 

If you are searching for a property in the Palmer High School and Middle School (Home of the Moose) area please review the information we have compiled about:

~ Homes for sale near Palmer Schools.
~ Find out what your Palmer area home is worth.
~ Palmer School test results.
~ Market Data in the zip code surrounding Palmer and Palmer School Comparison Info.
~ Search for Homes in Alaska's Matsu Valley.


The Shepard Home Marketing Team
Greg Shepard, Associate Broker, GRI, SFR, RFC
Sherri Shepard, REALTOR, RFC
Jack White Real Estate
865 N. Seward Meridian Pkwy., Suite 200
Wasilla, AK 99654, United States
www.AlaskaHomeSellers.com

VALUE IN THE FORM OF EXPERIENCE