Ketchikan Real Estate - !?! (Haines, Metlakatla: property taxes, housing, jobs)

[Snootylooter]

Having lived in Ketchikan for over a decade, I'm somewhat familiar with the downtown area. I was AMAZED at the listed price on several homes on Main & Front streets that I saw on a local real estate's web-site! There are several homes priced well over $500k. It was my understanding that the economy was not as robust as it had been decades ago, that tourism was it's last remaining mainstay, and that the population has steadily decreased since the pulp mill and logging jobs departed. Obviously, I've got something wrong - can someone fill me in?

BTW - Ketchikan is one of the most wonderful places on this earth, for anyone reading this that hasn't had the good fortune to call it home.

[Wrennie]

Housing prices are beginning to come down. I've noticed several jewelry store owners listing selling their summer homes lately. Many of the homes aren't selling. There are lots of rumors about a reduced cruise crowd this season---and lots of grumbling about the new halibut limits.

[Metlakatla]

There are lots of rumors about a reduced cruise crowd this season

*holds breath*

[rotorhead]

I suspect that one of the few silver linings of the sub-prime mortgage meltdown is that there will be a LOT less "mad money" from California and other high-cost markets available for second home purchases in SE AK. Up until recently there was so much excess paper equity available from ridiculously expensive areas (silicon valley, Bay area, etc.) that purchasing a home in Sitka or Ketchikan or Haines or wherever was basically free, it was all monopoly money.

Since the Kaliforikators have already bought up Oregon and WA state, it's only logical that their infestation would creep ever-northward towards SE AK. Since home prices here have historically been determined by what working people could actually pay, they were a heck of a bargain by comparison to a place in Big Bear or Napa or wherever else the teeming horde might land next.

Hey, count your blessings where you must. One persons recession is another persons hidden blessing.

[DannyL]

dirt is worth nothing more than what you and the person standing behind you are willing to pay for it.
same thing here in juneau, property prices are inflated.

[stiffnecked]

I bought a nice duplex out on S.Point Higgins in 1995 before the pulp company shutdown. After the kids grew up we wanted to move in closer to town. It took me 20 months to sell it. I was just glad that I broke even on the place. The real killer on buying property in Ketchikan is the property taxes. Every year they go up and up.....

[Alaska_mrs_placed]

Honestly, I think a decreased cruise ship season would do the town some good! Get those damn jewelry stores to consider pulling out. So what? A few key, extremely rich people would be out a couple of bucks, but they can afford it. I think its time to get back to being what Alaska is all about, and as far as I am concerned, its NOT about plastic totem poles made in China, or diamonds taken from some mine.

[RAMFEB31]

Hey, Rotorhead, lv us 'pole' kalifornator alone. Us un folks just trying to find the goodie life just like the rest of country.

[Barkingowl]

Originally Posted by Metlakatla

*holds breath*

Don't worry... I'm still coming.

[Alaska_mrs_placed]

Originally Posted by RAMFEB31

Hey, Rotorhead, lv us 'pole' kalifornator alone. Us un folks just trying to find the goodie life just like the rest of country.

WHAT? Are you speaking english?