Home Buying Trends That Affect the Anchorage, Alaskan Buyers and Sellers
by Dan Wolf
on Tuesday, February 17th, 2015 at 9:22am.
Buyers and sellers may encounter a different real estate market in the New Year because of the ongoing housing recovery and exit of many investors. Home buying in Anchorage, Alaska may pick up among the Millennials in their 20s and early 30s. According to a recent report by U.S. News & World Report, prices of homes have been on an upward climb, but that may level off somewhat. First-time buyers in Anchorage will get a boost as they can now get a mortgage from Fannie Mae and Freddie Mac for as little as 3 percent down as long as they pay the PMI or private mortgage insurance. When it comes to home buyer, the real estate climate is looking rosier.
• Rising home prices level off
Experts predict that home prices will increase gradually instead of the sharp upward movement in the beginning of the housing recovery. Economists predict home value growth will slow to about 3 percent annually, according to U.S. News & World Report. Although it’s a good time to buy a home to live in, it’s becoming less lucrative to invest in real estate as a home flipper.
• Seeing younger buyers
Although young people have waited to start families and buy homes, the new mortgage programs, better job market and low-interest rates will draw Millennials to real estate. Millennials are the now largest group of first-time homebuyers. Anchorage home sellers can stage their homes to appeal to younger buyers, but they shouldn’t neglect the baby boomer buyers either. Many baby boomers are ready to downsize.
• Negotiating in a buyer’s market
The biggest change in the New Year is the shift from a seller’s to a buyer’s housing market. Because of increased inventory, buyers will now have the freedom to choose between many homes on the market. In Anchorage, Alaska, buyers have a wide selection of new construction inventory from which to choose. An experienced Realtor can negotiate with the builder to get “builder incentives” such as free granite countertops. Likewise, your Realtor can negotiate with a home seller to get the assistance you need paying closing costs or other perks.
At Wolf Real Estate, we work with first-time home buyers, first-time home sellers and people who have been through the process many times. We are at your side to make sure your needs get addressed before and during the closing process. For more information about home buying in Anchorage Alaska, please contact us at