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"Kathi was a wonderful friendly face who understood the enormous emotional decision to move to Alaska. She was organized, informative, and yet not pushy. Just what we wanted."
Recovery, the real estate “buzz word”, is officially a thing of the past as of 2015. Real Estate prices across the nation are at or above the ‘pre-crash’ levels and it is my belief that a strong market is here to stay. Real Estate is still cyclical, it has its ups and downs just like any other business. The Federal Reserve won’t be addressing the current mortgage rates until December this year so buyers will enjoy low interest rates to entice them into the market. Low inventory of homes on the market is still creating a lot of demand, higher list to sales price, and lower average days on market! There appears to be some trepidation recently from sellers following some unease in the stock market in recent months.
According to national statistics there has been an average of 7% total increase in home values, year over year, since 2011. In the Anchorage market, we have had a total increase in home value of 11.93% since 2011. Our average home value is significantly higher than the national average but we didn’t have nearly the recovery issue the lower 48 faced.
I expect a market correction next year because of this. This doesn’t mean values will necessarily decrease, but we won’t have as high a percentage increase in home values in 2016 and worse case scenario will be a flat market. A 3% gain in 2014 and 2015 is great!
I believe we may see a small increase in home values next year. This will greatly depend on what the Federal Reserve does with interest rates and the avail- ability of credit at the beginning of the year. Historically, interest rates go up as the markets ‘cool-off’ from recovery. I track these numbers for the benefit of my cli- ents. It is my hope as the awesome summer our market saw cools off with the weather, all my clients stay optimistic for the coming year! Let me know by liking my Facebook page or contacting me with your questions and I can help! I’ve been in this business for 25 years and cultivate the tools and resources to sell homes fast and at top dollar. Email email@example.com or call 907-762-3123.
Are you thinking of buying a home in the Anchorage, Alaska?