What’s Been Happening in Our Market Lately?

The Feds are raising interest rates once more next week, which means if you’re a seller in our market, the time to act is now.

There are many great Anchorage area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (907) 865-6404 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I want to share a quick market update with you. 

As you know, the Feds have announced they will raise interest rates again. They’re predicted to raise them next week, and the margin is predicted to be 0.25%. Right now, rates are at about 4.25%, which means after next week they’ll settle at 4.5% for the time being. In the middle of last December, they were at 3.88%. 

What does this mean to you if you’re thinking about selling your home? When interest rates go up, prices drop. The average sale price in the Anchorage/Eagle River/Girdwood area has dropped from $366,000 at the beginning of the year to $341,000. That’s a drop of about 6.7%, one of the largest we’ve seen in a long time.

Keep in mind that we’re also in the slow quarter, so some of this is a result of the time of year. Hopefully, that will level out as the year progresses. If you’re thinking about selling your house, don’t wait. Do it before these interest rates rise again and values go down. 

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If you’re thinking about selling your house, don’t wait any longer.

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If you have any questions or are thinking about putting your home on the market, please feel free to give me a call. I’d be happy to help you!

How to Keep Your Home Safe While You’re Away

How can you keep your home safer while you’re away? Here are our best tips.

There are many great Anchorage area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (907) 865-6404 for a FREE home buying or selling consultation to answer any of your real estate questions.

One question I’ve been getting a lot is, “What can I do to keep my home safe while I’m away?” Crime is on the rise in the Anchorage Valley area and keeping your house safe is important, especially if you’re traveling or on vacation. Here are a few things you can do to keep your home safer.

The first thing I would suggest is installing a camera in your doorbell. I’ve got one, and it tells me every time somebody rings the doorbell. I can even talk to the person before I open the door.

Another good idea is adding some exterior lighting with motion sensors. A lot of times, these will scare people off if they are snooping around.

It’s also a good idea to let your neighbors know you are leaving. I have neighbors on both sides of me that we inform every time we leave. Remember to put your mail on hold as well.

Finally, double check those windows and doors before you leave. One-third of all break-ins are unforced entries.

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Double check those windows and doors.

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I hope these tips are helpful and keep you safe and sound in your home. If you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

How Do Rising Interest Rates Impact You?

Interest rates have increased by 0.75% since the election and will continue to rise through 2017. What does this mean for you as a homebuyer?

There are many great Anchorage area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (907) 865-6404 for a FREE home buying or selling consultation to answer any of your real estate questions.

Interest rates have increased 0.75% since the election. That might not seem like much, but what do rising interest rates mean to you as a homebuyer? 

A 1% increase in interest rates on a $300,000 house can mean an extra $200 in your monthly mortgage payment. Not only that, but in order to qualify for that home, your income would need to increase by nearly $600 a month thanks to that rate increase. 

When interest rates go up, buying power goes down. You have to make more money to qualify for the same house, and your payments will be larger. 

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When interest rates go up, your buying power goes down.

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If you are on the fence about buying a home, now is the time to make your move. Interest rates will continue to rise over the next few years. They are expected to rise twice in 2017, 2018, and 2019. Now is the time to make your move if you want to beat those rate increases. 

If you have any other questions about buying a home or about the real estate market in general, give me a call or send me an email. I would be happy to help you!