Home Buying in Anchorage: 3 Signs You Are in a Power Position
by Dan Wolf
on Wednesday, June 17th, 2015 at 7:49am.
Because home prices are going up in Anchorage and around the country, some sellers assume they have the upper hand. Yet housing experts say it's a balanced real estate market this year, which means buyers can slip into a power position. Home buying is a winning scenario if you have the right Realtor and the right real estate market conditions. Your Realtor can help you find the home you want in a good neighborhood where you can find a bargain simply because homeowners in the area are staying put. If the last homes sold in a neighborhood were foreclosures or short sales from a few years ago, the prices may not reflect the true value. According to an article by Credit.com, there are several signs that indicate it’s not a seller’s market. At least, it’s not the kind of seller’s market that should send a prospective buyer off to sign a rental agreement.
• Homes are slowly appreciating
Experts say even though home values are going up, it’s at a normal pace. During the housing boom, people got used to inflated home prices. In a normal housing market, homes to appreciate in value as there is turnover of real estate properties. When you buy a home in Anchorage, it may appreciate to the point where you won’t need to carry PMI or private mortgage insurance in a few years if you bought a home with less than 20 percent down.
• Some sellers are overly ambitious
While a motivated seller is good news for a home buyer, an overly ambitious seller who prices his or her home too high is reason for concern. On the positive side, buyers can score great deals in Anchorage by making an offer on homes still on the market after 30 days or longer. Many homes languishing on the market are homes with good bones and great features, but the owners insisted on a higher list price than the market could pay.
• Multiple offers aren’t as common
Experts say another reason it’s no longer a strong seller’s market is the fact that fewer homes receive multiple offers. With the help of a seasoned Realtor, you can come in with an offer that’s enticing to buyers in Anchorage. Since you have less competition, you can take your time to find the home that’s great for settling down rather than settling on something you don’t really like.
As a home buyer in Anchorage, you have a lot on your side. Lending standards are relaxing while low-interest rates give you more buying power. At Wolf Real Estate, we help buyers negotiate and submit a contract. For more information and tips on home buying in Anchorage Alaska, please contact us at 907-248-9653 or visit us online at www.anchoragehomesearch.com.