No need to contact a real estate licensee to get daily reports of homes for any profile you specify, straight to your Email inbox. Use this link.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Saturday, May 13, 2006
Quick and Easy MLS Access
Find all the MLS listings in one place, no hassle access. The same database, the same listings, that all the real estate licensees work from. Use this link.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Unrepresented Owner?
Trying to sell a property without professional representation? (FSBO) Please a free web ad, with no licensee involvement or representation. Buyers will contact you directly. Use this link.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Free Home Sale Preparation
If you are planning a home sale anytime soon, get the free web-based presentation to prepare you for the process. You can also order the CD version, with many interactive features. Use the links at the top of this page at RealS8.com.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
What's My Home Worth?
Get an analysis of your home's worth e-mailed to your in-box, without even the need to call me, or any real estate licensee. Use this link.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
MLS Annual Statistics Posted
MLS came out with its annual market statistics for 2005 this week. While none of the market-wide reports carry any big surprises, there are some factoids deeper in the data I found interesting:
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
- The average selling price of the 132 new and existing homes in the south part of Hillside last year was almost $550,000. This represents a whopping 16.2% price increase over 2004 and 34.8% above the end of 2003.
- The average time on market for a resale home, or a condo, in Anchorage was only 32 days, the shortest in 11 years. (In 1994 the average was 71 days for houses, 106 days for condos.)
- Existing homes in Anchorage posted a 13.0% gain, compared with 17.3% for new construction. This reflects the increasing shortage of buildable home sites, and dramatic increases on the cost of construction materials. The blended rate of increase of both existing and new homes, 3261 sales, was 12.51%.
- There were 11 homes sale reports over $1 million, compared with seven in 2004. Three of the 2005 million dollar homes were new construction; only one was in 2004.
- Seven percent of the 3261 homes sold in 2005 were above $500,000. The year before the proporation of half-million dollar homes was only 4.52% of sales. Five years ago, in the year 2000, only 2.3% of homes sold were priced above even $400,000, the top price bracket that MLS tracked before 2004.
- New construction condo sales surged to an average selling price over $200,000 for the first time in history. The average was influenced by the construction and sale of 39 new condos in several projects downtown with an average selling price of nearly $354,000.
- With the advent of site condo construction in 2001, MLS has reported between 411 and 471 new construction condo sales per year until last year. Suddenly the total last year jumped to 577 new units.
- The gap between last price an existing home sold for and its listed price at the time last year was 1.0% compared with 1.5% in 2004.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Monday, April 17, 2006
Anchorage Market cools, good values emerging
As the Anchorage home market cools somewhat, better values are emerging for those who are prepared to shop carefully. This is the time to be aware of the true value of a home before making an offer to purchase, however.
The market slowed over the winter, when fewer homes went under contract than normal. We rebounded in March to a little under last year's level, but the slow winter meant that closed sales reports reaching MLS have lagged. Through the first quarter there have been an average of 621 homes reported sold for the past five years. This year's January-March report shows only 574 homes sold.
The inventory of available homes has grown somewhat. Where there were 503 homes available at the end of March last year, now there are 561 on the market.
Overall price levels are certainly not declining. Last year a home in the Anchorage bowl carried an asking price of a little over $387,000. Now it's almost $403,000. Eagle River prices are $22,000 more; Chugiak is about $10,000 above Anchorage.
Sellers are making deals, however. There are more "price reduced" signs and ads running and homes are not just sitting. Indeed, the average time on market for homes in the Anchorage bowl last year at this time was 93 days. The current inventory shows a market time of 59 days.
If a seller by reason of birth, marriage, divorce, death or job change has to create a sale, he or she will do what it takes. If the initial asking price doesn't produce a sale, the price comes down to market quickly. That's why throughout the MLS system sellers achieve over 99% of the last price listed in the eventual sale price.
I've just published the MLS first quarter statistics from which this post is gleaned. Use this link.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
The market slowed over the winter, when fewer homes went under contract than normal. We rebounded in March to a little under last year's level, but the slow winter meant that closed sales reports reaching MLS have lagged. Through the first quarter there have been an average of 621 homes reported sold for the past five years. This year's January-March report shows only 574 homes sold.
The inventory of available homes has grown somewhat. Where there were 503 homes available at the end of March last year, now there are 561 on the market.
Overall price levels are certainly not declining. Last year a home in the Anchorage bowl carried an asking price of a little over $387,000. Now it's almost $403,000. Eagle River prices are $22,000 more; Chugiak is about $10,000 above Anchorage.
Sellers are making deals, however. There are more "price reduced" signs and ads running and homes are not just sitting. Indeed, the average time on market for homes in the Anchorage bowl last year at this time was 93 days. The current inventory shows a market time of 59 days.
If a seller by reason of birth, marriage, divorce, death or job change has to create a sale, he or she will do what it takes. If the initial asking price doesn't produce a sale, the price comes down to market quickly. That's why throughout the MLS system sellers achieve over 99% of the last price listed in the eventual sale price.
I've just published the MLS first quarter statistics from which this post is gleaned. Use this link.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Friday, March 17, 2006
Slight Sales Decline in Early 2006
I've just posted real estate statistical reports from Alaska MLS Inc. showing market activity through February. I'm watching the data closely this spring for signs of any market slowdown.
It might be a stretch to divine any weakening of market activity from the early data. Closed sales reports for February and January reflect deals that were done late last year. A better early indicator is the number of transactions that were showing as pending at the end of January and February.
This year the pending file is in the low 200's. Last year it went from a little under 300 to just over 300 by February. Two years ago it was about the same as last year. So there have been fewer property sales so far this year.
This has not been accompanied by an increase in the number of homes for sale, however. At this time of year there have always been a little under 600 residential listings in MLS. The inventory stood at 558 at the end of last month this year.
The average sales price topped $310,000 for the first time ever on a year-to-date basis. The average price for last year on one report -- MLS has not yet published comprehensive year-end data -- was $291,013. The February closed sales average $315,751.
That preliminary average sales price for last year is an increase over 2004 of 12.13%.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
It might be a stretch to divine any weakening of market activity from the early data. Closed sales reports for February and January reflect deals that were done late last year. A better early indicator is the number of transactions that were showing as pending at the end of January and February.
This year the pending file is in the low 200's. Last year it went from a little under 300 to just over 300 by February. Two years ago it was about the same as last year. So there have been fewer property sales so far this year.
This has not been accompanied by an increase in the number of homes for sale, however. At this time of year there have always been a little under 600 residential listings in MLS. The inventory stood at 558 at the end of last month this year.
The average sales price topped $310,000 for the first time ever on a year-to-date basis. The average price for last year on one report -- MLS has not yet published comprehensive year-end data -- was $291,013. The February closed sales average $315,751.
That preliminary average sales price for last year is an increase over 2004 of 12.13%.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Thursday, March 02, 2006
Your home value: the buzz about Zillow
A web-based home valuation service called zillow.com has been receiving much buzz around the country. You just type in your address (or anyone else's) and it returns an estimate and maps.
Some of the buzz is coming from fearful real estate agents who wonder if such a tool threatens their business model. (Some go so far as to hope they don't enhance the buzz by using the word Willow in their on-line posts.)
To the extent that their business model is based on being the gatekeeper to real estate data, perhaps it does. For those of us who moved long ago to being the trusted adviser and the interpreter of data, it does not.
Zillow's estimates in Alaska are probably just an extrapolation of property tax data. If you use the Zillow function to ask about comparable sales here, the site replies there are none. After all, there is no law requiring property sales to be reported in public, or to taxing authorities. Mass appraisal techniques lead to assessed values, which are often uneven for individual properties.
Zillow's graphing function in the case of my home produced the amusing assertion that it went
up in value since last summer from about $334,000 to $396,000. To the extent that I trust myself as a "trusted real estate advisor" I'd question where this comes from. I would also trust my advice that with only a single garage, the home isn't worth this much now, even though the location is superior and the home is remodeled and well-maintained.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Some of the buzz is coming from fearful real estate agents who wonder if such a tool threatens their business model. (Some go so far as to hope they don't enhance the buzz by using the word Willow in their on-line posts.)
To the extent that their business model is based on being the gatekeeper to real estate data, perhaps it does. For those of us who moved long ago to being the trusted adviser and the interpreter of data, it does not.
Zillow's estimates in Alaska are probably just an extrapolation of property tax data. If you use the Zillow function to ask about comparable sales here, the site replies there are none. After all, there is no law requiring property sales to be reported in public, or to taxing authorities. Mass appraisal techniques lead to assessed values, which are often uneven for individual properties.
Zillow's graphing function in the case of my home produced the amusing assertion that it went
up in value since last summer from about $334,000 to $396,000. To the extent that I trust myself as a "trusted real estate advisor" I'd question where this comes from. I would also trust my advice that with only a single garage, the home isn't worth this much now, even though the location is superior and the home is remodeled and well-maintained.For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Saturday, February 04, 2006
Economic Forecast slides available
Every year in January all us real estate pundits come out with our real estate and economic forecasts. There is a sucession of luncheons. I was the presenter at the Anchorage Board of Realtors event.
Similar events in January are by the Building Owners and Managers (BOMA) chapter, Anchorage Economic Development Corporation (AEDC, which had Robert Reich as its headliner).
I've posted links to each of these presentations on my site on this page.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Similar events in January are by the Building Owners and Managers (BOMA) chapter, Anchorage Economic Development Corporation (AEDC, which had Robert Reich as its headliner).
I've posted links to each of these presentations on my site on this page.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com.
Subscribe to:
Posts (Atom)