Reminder--- Email me to sign up for the FREE giveaway is for tickets for two to the Alaska Native Heritage Center along with a book from the center; great for friends and family that will be visiting this summer.  Also a two gift cards for $20 to North Star Bakery just down the street from me here in Wasilla.  Email me no later than January 14^th to be entered to win.  Also don’t forget about our warm coats—warm hearts coat drive for children.  Drop off at our office anytime this month.

If you are thinking of listing your home in the spring, now is the time to start cleaning up and clearing out the clutter so you’ll be good to go in 2008!  I wrote a “State of the Real Estate Market” article for the Frontiersman newspaper that comes out at the end of the month.  This is good information for anyone looking to sell in 2008 or anyone just wanting to know the real facts about the residential real estate market.

Attention all seniors graduating from High School in May of 2008.  Apply for one of our three scholarships we will be awarding this year.   We give away 3 scholarships totaling $3000 each year to graduation seniors. 

Attention all renters!  This is a great time to buy with low interest rates and several new homes to choose from.  Stop throwing away rent and start earning equity. 

Red Cross award.  The local Red Cross Chapter Thanks the Kristan Cole Team for monetary contributions and whole blood and plasma donations

State of the Residential Real Estate Market

If You Want To Sell Your Home in 2008, Don't Wait Until Summer

By Kristan Cole

Most sellers think they will get more money for their house if they wait and sell in the summer months when the flowers are out and their home looks its best.  Not true!  During late winter and early spring the housing inventory is lower.  When the inventory is lower, sellers have the best chance at getting the highest price.  In early summer months our existing inventory typically doubles and of course the new construction starts.  So if you need to sell this year and want to get the most money for your home, don't wait until summer, start early in February.  Sellers consistently get more money for their homes when they sell in during the months of February, March and April.  After 23 years in the real estate field and selling over 1000 homes here in the Wasilla-Palmer area I have found this trend to be consistent year after year. 

So what really happened in 2007?  Fortunately the real estate market here in Alaska did not suffer like much of the lower 48 did.  According to the Alaska Multiple Listing Service, 1480 homes sold here in the Mat Su Borough in 2007.  That is 11.7% fewer homes than 2006, but the average median sales price went up by 1.4%.  The average sales price in 2007 was $227,454 and the average number of days on the market was 78.  As of January 2, 2008 there were 561 homes on the market for sale.  Based on the sales in 2007 and a current inventory of 561 homes, we have about a 3-4 month supply of homes for sale.  According to the National Association of Realtors, when the number of months of supply is less than 6, the market is stable; a “normal market”. 

My team and I sold 167 homes in 2007.  Many of our sellers had tried to sell their homes before, but had been unsuccessful.  We sold Bob & Donna Council’s home and they said this about their experience, “We should have called Kristan the first time around.  She sold our home for top dollar in a tough market after it was listed with a different Realtor for three months”.  It would be our pleasure to help you if you are interested in selling, call or email us today 907-373-3575, Kristan@KristanCole.com so that we can put our experience to work for you.  For up to date market information year around, click on my blog on my web site at www.KristanCole.com