WolfTeam News

July 18, 2010

New Time-Saver Technology Comes to Real Estate

Filed under: General Real Estate Industry News,Inspections,Just for fun — Tags: , , — Dan @ 8:45 am

A month ago Alaska Multiple Listing Service asked if I would demo a new program for them.  The program they asked me to try is called DocuSign. I agreed to give the program a try for them. 

Signing digitally can be very convenent in many situations!

The program turned out to be easy to use and such an obvious advantage that I’m amazed we didn’t have a program like it before now!

The program is incorporated into our FlexMLS document program.  When we type up a real estate document, such as a Listing Agreement or an Agreement to Purchase, we can click on the DocuSign tab and by following a series of screens, and email the form to one or more parties. 

When the customer gets the form via email, they can open the form and again by following easy screens, they can sign the form digitally on the screen and simply email the form back. The customer can create their own digital signature online without needing a scanner or any unusual equipment.

In the “old days“, we would fax the forms to be signed if the buyers couldn’t drive to our office.  One problem was by the time the form was signed and faxed around a couple times, the print would distort and become very difficult-or impossible- to read. 

In some transactions, contracts are negotiated at length, so buyers and sellers would have to run back and forth between their homes and the real estate office again and again; Sometimes there was the problem of  locating a fax machine….

Another nice thing about DocuSign is if their are more than one signer on the documents, they don’t have to be at the same location to sign digitally.  In other words, one party can sign online on one side of town, and the other party might be on a business trip or working on the North Slope, yet they can sign the same exact form – No more signing duplicate documents in counter-part!

After a month of using DocuSign, I’m amazed at how few problems my customers and I have had using this very convenient program!  Real estate buyers and sellers love the convenience, not to mention it’s green (your not killing trees) and maybe the best things is the program is just plan tech-y and cool!

July 15, 2010

Dad said “Buy Low and Sell High!”

Filed under: Financing,General Real Estate Industry News,Price & Value,Property Values,Uncategorized — Tags: , , — Dan @ 11:00 am

This may be the best buyer’s market we’ll see in our lifetimes.  There are lots of legitimate reasons why a person should be taking advantage of this real estate market if they are able.

Anchorage with the Chugach Range backdrop

City of Anchorage with the Chugach Range backdrop

Obviously, if a person doesn’t have the down payment or have a workable credit score, they won’t be able to seize this opportunity.  If a person is concerned about losing their job, that would be a valid reason for not buying now.  If you are planning on relocating in the next year or two, maybe now isn’t the time to buy.

On the other hand, if a person doesn’t own a home, has good credit and job stability, they should seriously consider capitalizing on this unique combination of opportunities. 

The Top 10 Reason’s to Buy  A Home NOW!

1. Interest Rates are incredibly low – rates are at near historic lows, often spiking below 5%.  Interest rates play a huge part in the cost of hosing together with the price and shouldn’t be overlooked.

The average interest rates for the past four decades were:  1970′s 8.9%; 1980′s 12.7%; 1990′s 8.1$; 2000′s 6.3%

2. Lower prices. Recent price adjustments have made good values that haven’t been available in some situations for years.

3. Selection is still good.  Home inventories in most real estate markets and in certain price ranges are higher which allow buyers better choices.

4. Negotiate financing concessions – FHA, VA and Conventional loans allow for the seller to pay some closing costs that traditionally would be a buyer cost.  This market may allow a buyer to get closing cost assistance.

5. Costs for FHA loan going up.  The annual MIP for FHA loans will probably be going up this year which will incrase the montly payment.  Buyers who get in now will pay lower fees.

6. Interest and property tax deductions- The U.S. is one of the few countries in the world that allow an interest and property tax deduction for homeowners and taxpayers.

7. Capital Gain exclusion- the U.S. allows qualifed homeowners to make a profit on their home without having to pay tax on the gain.

9. Borrowing against your equity is  non-taxable event. taking money out of the equity in your home does not require you to recognize capital gains income.

10. The combination of reasons to buy a home may never be stronger than right now!

Interest rates are going up;  it’s just a matter of when.  Inventories are starting to be absorbed by current demand.  Prices have begun to climb in many U.S. markets.  Real estate inventories are beginning to decline.

A basic rule of investing is to buy low and sell high.  There will be some buyers who take advantage of he current opportunities and will look back and remark how fortunate they were to act when they did.  Th3ere will be others who look back on these conditions and say “We should have bought then.”

Hindsight is always 20/20.  Evaluating the present and acting takes equally clear vision.

July 13, 2010

Real Estate For Sale Sign – with a modern twist!

Filed under: Alaska,Financing,General Real Estate Industry News,Marketing — Tags: , — Dan @ 4:30 pm

I have a good real estate friend who has a great technical mind.  He’s good at thinking “outside the box.”  Recently, he had a good idea for a real estate sign.  He noted that real estate signs haven’t really changed very much in years, even though technology has advanced greatly.

A prototype of a real estate sign of the future!

Greg, my friend, said “wouldn’t it be cool to get a monitor on the curb so interested people could see a photo slide-show and even possibly virtual tours?”  I said, “yeah, that would be slick!” 

Greg brainstormed it a bit and came back to me with some drawings and a concept.  I agreed to fund the construction of a prototype. 

Greg built the sign in the photo and I have the sign planted at my listing on 4100 Caravelle Drive.  Not only is sign very attractive on the front of the house, it also has more benefits!

Look up at the top, see the angle piece?  It is a solar panel.  It charges a battery located in the base of the sign.  See the monitor?  Currently it is a slide-show of photographs from the backside of the home and interesting features inside the home. 

Right now Greg is monitoring the battery life to see if the solar panel produces enough energy to keep the battery charged, which keeps the 10 x 10 monitor working. 

Future plans include virtual tours on the screen.  The technology exists to link the sign to a lender or even to the realtor.  Stay tuned for future updates on the “high tech” real estate for sale sign!

July 9, 2010

Lake Front Home in Anchorage Alaska!

Filed under: Alaska,General Real Estate Industry News,Marketing,Saving Money — Tags: , , — Dan @ 8:05 am

I just listed a great home on Sand Lake in west Anchorage! 

The view from the kitchen towards Sand Lake

There are many lakes in Alaska, but not many in Anchorage.  One lake that is well known is called Campbell Lake.  Campbell Lake is a man-made lake where engineers restricted Campbell Creek and made a wide lake which is popular with owners of float plans.

Sand Lake is a natural lake, and most people agree has a different personality than Campbell Lake.

I just listed 4100 Campbell Lake.  The home is 4,300 square feet on three levels.  The lot is rectangular and fully usable.  The home boasts a “wall of windows” with a mesmerizing view south and west.  This home doesn’t look across the lake into other home looking back at it, like you see at Campbell Lake.  The north side of Sand Lake has a large marshy bank so it cannot be built upon.  This home look at trees and to the snow-capped mountains beyond!

The view of Sand Lake from the front deck

The home has a modern contemporary feel, too.  Many existing lake homes were built 30 years ago and now have very dated floor-plans and old styling, where this home is light, bright and updated!

Just sitting on the large deck is a very peaceful experiance.  You hear the loons calling out and see the ducks flying by!  Check out the virtual tours here.

July 5, 2010

Home Staging – Virtually!

Filed under: General Real Estate Industry News,Marketing,Preparing Your Home — Tags: , — Dan @ 7:56 pm

Here’s a new twist on an old concept. Part of selling is properly staging a home so that it looks appealing and the space shows well.

The "before" photo of the vacant formal dining room

There are professionals who will come to your house and make recommendations and even rent furnishings to help a property show better and generally results in faster sales.

A new service has been introduced to real estate professional recently.  It is called virtual home staging.  Basically, we provide photographs of vacant rooms to the service and they add “digital furniture” to the empty rooms.

According to statistics compiled by National Association of Realtors, over 90% of the time, home buyers have viewed the home they ultimately purchased online before they physically veiwed the property.  This means that a buyers eye may stay on the photograph longer and increase the home’s visual appeal, hopefully resulting in the buyer asking to view the property.

A "virtually staged" room

Virtual furniture enhances a vacant room greatly!

Of course when the buyer shows up at the property, the rooms will be vacant.  There has been some discussion about whether or not this is a disclosure item, but most feel it’s not any different than when we take photo’s of the home prior to the seller moving out of the house.

Personally, I think it is very attractive!  What do you think?

June 17, 2010

Sex Offenders! They Show Up Everywhere!

Filed under: General Real Estate Industry News,Life in Anchorage,Uncategorized — Tags: , , — Dan @ 11:31 am

In 1996 a Federal law went into effect which required all states to require convicted sex offenders to register, and to make that information available to the public.  The Alaska Department of Safety site is here.

Families with young children pay attention to sex offenders

Families with young children pay attention to sex offenders

Many people carry the new Internet enabled “smart phones“; programs are easily downloaded that tie into the State registry site and show where registered sex offenders are in relation to you and your smart cell phone.

It would appear as if the list of people registered as sex offenders has exploded over the past 15 years!  This isn’t because the number of high-risk perpetrators is increasing, but that we have lowered the bar of what constitutes a sex offender.  A person can wind up on the sex offender registry for urinating in public or, in 32 states, for “streaking” in public.  A person who gets caught with a prostitute can be placed on the list.

Probably the most problematic group of “sex offenders” are teens.  Teen boys that get caught having sex with younger girlfriends can be classified as a crime, even if it’s consensual.  In Texas alone, there are 4,000 registrants who landed on the list as juveniles.

A recent assessment of registered sex offenders in Georgia found that less than 1 percent were “predators,” defined as people who are driven by compulsion to commit sex crimes.

Round-the-clock media coverage of high profile abductions and murders has contributed to the general sense that society has run amok, when in fact violent crimes rates in most areas are generally lower now thane been since the ’70′s.

Sex offender registries are controversial by nature and some say, can generate more confusion than clarity.  For example, there are a growing number of cell phone apps that take information from the State registry site and place dots where the registered offenders are around your location. With this widely available technology people can get the idea some neighborhoods are much “scarier” than they might really be.

It’s been said that a better list would be to limit the list to the 1% of truly creepy individuals who really are offenders, rather than the teenager who made some poor choices on the list or the goof-ball who thought it would be cute to streak across the stadium naked.

The dots on your cell phone app might lead you believe the area of town you are in is worse than it may really be.

June 12, 2010

Anchorage Alaska Custom Home Market

Filed under: Alaska,General Real Estate Industry News,Life in Anchorage — Tags: , , , , — Dan @ 3:58 pm
Massive Front Doors open entryway

Dramatic Entry Way

Does Anchorage Alaska have quality custom homes?

When people are moving to Alaska for the first time, and they think of Alaska homes, what thought comes to mind?  Do they think of a log homes on remote sites in the woods?  When they think of high quality “dream homes“, do they envision even bigger log homes on even more remote home sites?

Of course there are individuals in Alaska with discriminating tastes and those at the place in their lives that they can afford their idea of a

Unrestricted views!

dream home.

Homes come in all prices in Anchorage, just like they do anywhere.  There are always exceptions to any rule, but basically the “upper-end” of Anchorage market is $1,000,000. 

In 2009 – 2010, there was about 1 sale each month on the average of homes exceeding a million dollars. 

A home exceeding a million dollars will be high quality and may be unique, reflecting the personality of the builder, architect and home owner.  These homes would typically have very high quality finishes.  They would be a minimum of $5,000 square feet. 

High ceilings & superb quality of finishes

Views would be important, as would the location.  If the property was down-town Anchorage, the views would be unrestricted Cook Inlet views;  If the home was on the hillside area in Southeast Anchorage overlooking the city, the views would be “loud and proud” and without restriction.

In any market and in any location there are always people who want a home with disctinct features and high quality finishes. 

The Dan Wolf Team was proud to have sold three of the 12 homes that sold over a million dollars in Anchorage in the past year!

If you want to see what homes are for sale in any price bracket, search here.

June 4, 2010

Anchorage Executive Condominium Market

Filed under: General Real Estate Industry News,Life in Anchorage — Tags: , , — Dan @ 5:28 am

There is always a market for high quality condominiums or town homes, and Anchorage Alaska isn’t an exception to the rule.

An executive view from a downtown Anchorage Penthouse home

The individuals who like executive condominiums are specific in what they are looking for – it’s usually a lifestyle decision. They can afford anything they want, but they specifically want “location, location, location” as well as top amenities. What they want to avoid is home maintenance, of the outdoor variety such as shoveling the snow and mowing the lawn.

Anchorage real estate agents sell about 90 condominiums properties every month; the average sales price is $190,000 to $250,000. These aren’t the condominiums I’m talking about in this post.

A special view from an executive condominium in downtown Anchorage

Executive style condominiums begin in price in $450,000 range and continue up in price. In Anchorage, executive condos are a very small portion of the market. There might be only one sale a month over $450,000, and slower at higher prices.

I saw a wonderful penthouse condominium in a downtown property last week. The location was downtown Anchorage with massive unrestricted views. The quality of the finishes was exquisite. This particular executive condominium had underground parking with an elevator to the condo units. There are commercial business’s on the ground floor. The access to the residential condos above are limited by keyed access in the elevator.

This lifestyle isn’t for everyone, but it is perfect for individuals who want a high quality location and home, without the hastles of common exterior maintenance.

May 28, 2010

Year to Date Market Improving – Slightly

Filed under: Alaska,General Real Estate Industry News,Price & Value,Property Values — Tags: , — Dan @ 9:05 am

The Anchorage Real Estate Market is improving, albeit slightly. 

Anchorage Real Estate Market Showing Signs of Stability

I checked in this morning with the Statistics Department at Alaska Multiple Listing Service (MLS) to see how the overall market was fairing, from the distinct advantage MLS has of seeing everyone’s transactions.

A check of year to date residential numbers ending April 30th show a pretty nice improvement over last year (Jan 1 – April 30).

The numbers of sold properties are up 5% this year over last year.  The average sales price is up 3% in a year over year comparison for the same time last year; You do have to be pretty cautious how much you read into the stats though.  – 2009 was down pretty far from our normal a few years prior.

Condominium numbers are also up in number but down a bit in average sale price.  The number sold is up 36% over the same time last year, but sales price down 5%.

When you look at “homes sold” and look at both condo and residential together , the number sold is up 15% and average sales price down 1% year over year Jan 1 – April 30.

I have no crystal ball, but it stands to reason that May and June should be pretty strong as the last contracts written to take advantage of the tax credit work their way to closed.  The tax credit program ended April 30, but we have until June 30 to close out those transactions.

You know I’m watching for positive signs that the market is improving.  My best guess is that it won’t happen overnight, but that things will cautiously improve.

May 13, 2010

Alaska Real Estate Licensee Numbers Decline

Filed under: Alaska,General Real Estate Industry News,Property Values,Uncategorized — Tags: — Dan @ 10:47 am

The number of real estate sales in Alaska has declined each year since 2006 - and the real estate market has increasingly become more competitive and well, harder. 

A real estate licensee qualify's a buyer

This year the number of real estate licensee’s declined nearly 10% across Alaska.  There were 162 people who didn’t renew their real estate licensee this license period.  Some of these are normal attrition, of course; people retire, move out of the area and these sort of things.

The gulf between buyers wanting what they perceive to be a “good deal” and sellers who are feeling squeezed because of the softer market is a piece of the difficulty.  Another facet is stricter underwriting guidelines and appraisal hurdles have made buyer and property qualifications tougher.  Every agent has a story of a lender, underwriter or appraiser who dealt the “death-blow” to their transaction. 

The life of an agent is certainly more difficult than it has been in many years.  Finding a motivated buyer or getting a listing agreement signed is only the beginning of a transaction

The deadline to renew your real estate license in Alaska is every other year on the even numbered years.  February 1, 2010 was the deadline to be licensed for the next two year period.  

In Anchorage there are currently 1,184 active real estate licensees, but, included in this number are a good number of people who do not actually sell real estate.  There are appraisers who use the data in the Multiple Listing Service and use the key service as well as some lenders and home inspectors.

Like any type of business, there is a normal ebb and flow.  Wisely, the Alaska Multiple Listing Service budgeted for a license decrease.  I think many agents who have been in business for more than 10 years felt the decline was bound to happen.

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