Fortunately, the number of foreclosed Anchorage homes is much lower than that of many other states and cities around the United States, indicating a resilient real estate market. However, there are still some foreclosures to be purchased in Anchorage, Alaska.
Each entity that is foreclosing has their own rules that have to be adhered to, and it isn't unusual to have multiple offers on some properties when they are attractively priced. With these complicating factors, it is in a buyer's best interest to have an experienced agent represent them in the often murky waters of foreclosures. Shop here for Anchorage foreclosed homes, and let us help you view the property and make an offer!
Alaska Real Estate Foreclosures
|All Listings||Under $100,000||$100,000 - $200,000|
|$200,000 - $300,000||$300,000 - $400,000||$400,000 - $500,000|
Alaska Real Estate Foreclosures
6 Tips for Buying Foreclosed Anchorage Homes
Think you are ready to purchase a foreclosed Anchorage home? Here are six tips from our real estate professionals to help you navigate the process.
#1 Budget Carefully - You might think that, because foreclosed homes are sometimes more aggressively priced, you don't need to budget. However, there are still costs associated with buying foreclosed Anchorage homes. For example, there may be extensive repairs, some that require expert help, and if you are planning to rent, you'll still need to make full monthly mortgage payments until you find a tenant. It is important to be sure you account for these and any other costs you might encounter.
#2 Look With Your Own Two Eyes - Although your trust in us is welcome, we strongly recommend that you go see the home yourself. If you are out-of-state and can't view the home yourself, send someone else - a friend or family member - to check out the home for you.
#3 Explore the Neighborhood - Location is the most important part of real estate. Buying a beautiful home in a less-than-beautiful neighborhood is a sure way to lose money - if you decide to sell in the future, you probably won't be able to recoup the cost of repairs due to the home's overall decreased value. Make sure you explore the neighborhood in the morning, afternoon, and at night to get a good idea of what kind of area it is.
#4 Think About Vacancy Length - If you're searching for a foreclosed Anchorage home, or any home really, think about how long it's been empty. If a home has been empty and/or on the market for some time, it's usually a good indicator of more significant damage to the home.
#5 Landscaping Matters - It's important to consider a foreclosed home's landscaping, and not just for aesthetic purposes. Some Anchorage foreclosed homes could have untrimmed trees and bushes that led to structural deterioration. Vines can creep into windows, rogue tree roots can weaken the foundation, and heavy branches can damage the roof.
#6 - Get the Home Inspected - Even if you have to pay out of pocket, get the home inspected! Any previous inspections should be disregarded - home inspections are a snapshot of the home at a specific point in time, so usually past inspections are almost completely irrelevant. By paying $300 to $500 for a quality home inspection, you can get an idea of significant repairs that need to be made prior to closing on the home.
Use these 6 tips to navigate the foreclosed property buying process. Contact us, and one of our experienced Anchorage foreclosures real estate professionals will walk you through your buying process step by step!
After The Sale - 5 Tips for Remodeling Anchorage Foreclosures on a Budget
It is never too early to plan your remodel project! Here are a few tips from our team on how to put your best foot forward when remodeling Anchorage foreclosures:
#1 Paint Is Your Best Friend - Paint can change an entire home, from top to bottom. This is a great area to splurge in - put in the time and money for quality prep work, like scraping and sanding, hire an affordable contractor, and purchase a high quality grade of paint.
#2 Be Content With Carpet - Home shows on TV like to wow their viewers with dramatic scenes in which the contractors pull up the carpet and find beautifully preserved hardwood floors underneath. We regret to tell you that that usually isn't the case when purchasing Anchorage foreclosures. While hardwood and laminate look great and are easier to clean than carpet, they come at a higher price. Find a comfortable, low pile carpet to cover up unsightly tile in high use areas, like the kitchen or bathrooms, and take advantage of special offers from carpet providers, like free installation with your carpet purchase.
#3 The Value's in the Details - If you don't have the budget to knock out an entire room and redo it from the ground up, focus on the details. Updating door handles, light fixtures, molding, blinds, etc., can make a huge difference to a home buyer.
#4 Keep Bathroom & Kitchen Renovations to a Minimum - Kitchens and bathrooms are the most important selling points of a home, but you don't need to tear up the entire kitchen or bathroom to increase your home's value. Swapping out appliances, adding more storage space, and updating light fixtures can help give the kitchen a more modern feel, while replacing the toilet and sink and adding a fresh coat of paint can make your bathroom look new and clean. These less expensive changes can give the illusion of a full remodel.
#5 Create a Budget, and Stick to It! - Big or small, try not to go over your budget or schedule. A new door handle or light fixture may seem like a small cost, but a lot of small costs add up to big ones. More changes equal more time and money, which means less profit.
These 5 tips can help you prepare for remodeling after you purchase your Anchorage foreclosure. Contact one of our Alaska real estate agents to help you search for foreclosed Anchorage homes today.
DISCLAIMER: The listing content relating to real estate for sale on this web site comes in part from the AK MLS IDX of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than RE/MAX Dynamic Properties are marked with either the listing brokerage's logo or the AK MLS IDX logo and information about them includes the name of the listing brokerage.
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Listing information last updated on March 21st, 2019 at 10:19pm AKDT.