2008 Valley real estate prediction? (Wasilla: credit, relocate, for sale)

[travelmate38]

I'm thinking of placing my home for sale here in the next two weeks. I'll be leaving for my home in Washington State should it sell. Recession talk and all, how big a dip if any are we going to see in the valley market this spring and summer? My home is one that would be priced between $250,000-$275,000. I know this is a tough market, but just how tough is it going to be this summer? Alaska, depsite the rest of the country seems stable and prices do not seem to have dropped, but I could be wrong.

[RAMFEB31]

The best of luck to you Travel'. When I was looking for a home along the So. Alaskan coast last Summer, gut personal feeling say you could very well be right about the stability of home prices in Alaska. I did not find any significant price cutting there. But then, there were no talks of recession. This kind of talk, whether reality or otherwise seem to put people on the defensive. But, if there are enough rich Californians or Texans or Floridians wanting something in your area, who knows? This board seem to infer a good number of people wanting to relocate North.

[Manmountain]

TM; If ya dont need the $ renting can save you.

The time to sell is yesterday. If you must sell, lower the price a bit more and deal and dump it.. The top has been in for 8 months-- there is a massive credit crunch not only in the USA but the world. Funds are sooo tight and no one wants to trust anyone anymore (bankers ie.) especially etc. Bottom line- credit crunch-- no more easy money-- only the richer s will have the cash flow and the peons will suffer into oblivion. Cash out i ya can and be grateful-- Titanic has a deal on tickets-- Ill pass.

[Barkingowl]

I've been looking at a house in Wasilla that started out at $200k & is now at $189k with no bites in sight. I'm hoping it'll go lower still... I hope you have better luck with your property.

[Marty Van Diest]

Originally Posted by travelmate38

I'm thinking of placing my home for sale here in the next two weeks. I'll be leaving for my home in Washington State should it sell. Recession talk and all, how big a dip if any are we going to see in the valley market this spring and summer? My home is one that would be priced between $250,000-$275,000. I know this is a tough market, but just how tough is it going to be this summer? Alaska, depsite the rest of the country seems stable and prices do not seem to have dropped, but I could be wrong.

Values have not dropped yet...but there are signs that they might. Just because people drop the prices of their homes doesn't mean that values have dropped, it means that they were unrealistic to start with.

There are still buyers and still plenty of people moving to Alaska as this forum reveals. It's somewhat self serving and Rance can delete this if he wishes, but I just posted a prediction on my site here. Basically it says that things look relatively stable in Alaska with one big caveat. We are completely at the mercy of the global economy. If oil prices drop...head for the hills.