My New Blog

That's Right.....Spinell Homes has just annouced that they are building in West Park on Big Bend Loop.  We are planning for 13 different floorplans with at least three of those plans base priced under $300,000.

Contact me for more details:

Michael J. Droege  907-230-3372  mjdroege@gci.net  www.MichaelDroege.com

or

Visit   www.SpinellHomes.com

With the First time home buyer tax credit about to expire (you must be closed by December 1, 2009), interest rates as low as they have been in our lifetimes and inventories in the Anchorage area lower than they have been in years, conditions are good for both buyer and seller. Consider the following facts:

Markets are defined by the National Association of Realtors as follows:

0-5 months of inventory is a "Seller's Market"

5-7 months of inventory is a "Transition or Healthy Market"

7 month or more of inventory is a "Buyer's Market" 

Here is the data on Anchorage / Eagle River / Chugiak:

Residential 4.81 Months Inventory (1259 Active / 262 Sold in July)

Condo's 6.00 Months Inventory (577 Active / 96 Sold in July)

Multi Family (1-4 Units) 8.38 Months Inventory (176 Active / 21 Sold in July)

Here is the data on Palmer / Wasilla / Meadow Lakes:

Residential 6.62 Months Inventory (774 Active / 11 Sold in July)

Condos 6.86 Months Inventory ( 48 Active / 7  Sold in July)

Multi Family (1-4 units) 3.38 Months (27 Active / 8 Sold in June)

So despite sales volume being down as follows:

Anchorage -15

Eagle River -6

Palmer -11

Wasilla -14

Market conditions are pretty level for buyers and sellers.  Get out there and get Pre-Qualified and go get a home.  If you're a first time home buyer, remember, you have to have your purchase contract "CLOSED" on or before December 1, 2009 to qualify for the $8,000 tax credit.  That would mean you need to be under contract RIGHT AWAY for any new construction home and if you are buying and existing home, you need to have it under contract NO LATER than November 1, 2009.

Good luck and happy home buying.  Remember, if you need help buying or selling a home, contact me:

Michael J. Droege 907-230-3372  mjdroege@gci.net  www.MichaelDroege.com

PS - If you want to sell your home, inventories are Low!  If your property is in good shape and priced right, there is a buyer for your home.  You can expect to get that home sold in 90-120 days (depending on your price point) call me for a free market analysis and further details.

Not Really.  There are portioin of the market that are still soft, but for the most part values are good and interest rate are at a fifty year low.  If you are thinking of selling.  Get you property on the market.  Inventory in most price ranges is thinning quickly.  There are precious few new construction listings and again MONEY IS CHEAP for borrowers.  Want to discuss your circumstances and check out how your home will do on the market.  Call me and let's discuss it.