8/14/07 – 8/14/08  Residential Market

The Anchorage Daily News reported last week that property owners on Big Lake are being notified about dock permits.  Evidently permits have always been required, but few property owners have them.  They were either not aware, or disregarded the permit process. 

Big Lake is one of two lakes in the Matanuska-Susitna Borough that the Army Corps of Engineers regulates under an 1899 federal law as a navigable water body, meaning the water is used or could be used to transport foreign or interstate commerce per the Daily News article.

The Corps has indicated they are not out on Big Lake looking for problems or to penalize anyone in as much as they are just trying to get people to obtain a permit and come into compliance.  I also think they are trying to maintain safety (docks coming loose etc.) on Big Lake.  As we all know, there have been several accidents on Big Lake in the past few years. 

For the private landowner, new dock permits cost $10 and require a public notice period. New commercial permits cost $100.   Work on existing, permitted docks is generally free, as long as it stays within a certain size.

Well just when you thought you were up to date on land use requirements, you find out there's always more to know.  Kristan

Winners of the 8 adult passes to the Alaska State Fair are:  Bill and Barb Penyak 2 tickets, Chris and Laurie Miller 2 tickets, Al and Barbara Nault 2 tickets, and Rose Frey 2 tickets.  Please stop by our office anytime after Monday to pick up your tickets!  The fair starts on Thursday.  I competed in 4-H as a young teenager and actually won the showmanship class with my horse, Jules.  To earn money that summer, my brother and I worked at the fair grounds and cleaned all of the horse stalls; that was work.  I was thrilled to also compete in horse racing that summer and won my first race at 13.  Lots of fond memories for sure, what are yours?  Horse racing is no longer a venue at the fair, but there is always something for everyone.  This year the entertainment starts off with Sean Kingston (which my adult kids can’t wait to see), lots of competitions, and or course the phenomenal food.  I can’t wait to go and eat.  Yum Yum

Don’t forget to enter our next FREE drawing for 20,000 Alaska Airline Miles.  Email Kristan@KristanCole.com to win.  Drawing will be October 15. 

Keep checking our Best Buy List http://www.kristancole.com/best_buy if you are looking for a home.  There are some incredible buys out there that you won’t want to miss.  There’s no sense driving around to look at homes with current gas prices.  You can see every listing in Alaska on my web site; www.KristanCole.com.  Two of our sellers had multiple offers this week which speaks volumes about our best buys.  Bottom line, if you are looking for a home don’t buy without first checking out our best buy list.

One of our clients wrote me a very kind note this week and gave me permission to share it with you.  He said when our team took over the sale of his property; he had peace and could get on with things.  I worked some really long hours this week and when I got this note, wow did it make it all worth it.  Great opportunities to help others seldom come, but small ones surround us every day.  We all have the chance to speak a kind word to someone.  Go make someone’s day.   Kristan 

Alaska Housing released a press statement August 4th about Alaska Home Buyers Confidence.  They stated Alaska home buyers remain confident in the housing market despite national decrease in consumer confidence.  A June 2008 study conducted by Dittman Research and Communications Corporation revealed that 59 percent of Alaskans have a great deal of confidence or quite a lot of confidence in the strength of the Alaska housing market.  This compares to the Conference Board's national consumer confidence index released in June, which fell to 50.4, the lowest reading since February 1992.  Most Alaskan's cite Alaska's strong economy and the fact that housing is a good investment as explanation for their confidence.  Low interest rates and a low number of homes on the market also positively impact this confidence factor.  Alaska Housing Finance Corporation's CEO/Executive Director Fauske explains, "housing and energy issues are of critical importance to all Alaskans.  These survey results are an indicator of the marketplace and send a positive message that despite national trends, Alaska's housing market remains steady." 

Here in the Palmer/Wasilla area our inventory of homes is higher than last year so we still have a ways to go before our residential market totally recovers, but it's steady as she goes right now.  Call me if you want to discuss the specifics of your home.  Kristan

Is the national housing crisis really a crisis? Dennis Kneale recently addressed the issue on CNBC.His message took on a positive spin regarding the real estate market. He demonstrated in the video that the housing crisis is really only a crisis at a micro level.  Here in Alaska we are fortunate; our current foreclosure rate is less than 1%.  We haven't been hit hard at all, but then we took our hits in the late 1980's.  Our future economic growth looks positive.  Tourism, oil revenues, a new prison, growth in the military, low interest rates, more retail store growth and job growth for starters.  While job growth slowed in 2007, it's still growing and I expect our employment growth rate to be between 2-3% this year.  This should help our struggling real estate market recover more quickly.  So while we haven't seen much sun this summer in Alaska, I think I am starting to see at least partly sunny skies in the future of our residential real estate market, and that's good news for everyone. Check out our Best Buy List if you are looking for a home or an investment property.  There's no sense driving around to look at property with gas prices over $4.41 per gallon.  You can see every listing in Alaska on my web site.  Interest rates are lower than ever----It's a great time to buy in 2008. Kristan