Is The Alaskan Real Estate Market Overpriced and Due For a Correction? (Ketchikan: rentals, how much)

[Parnassia]

I was house hunting on the KP last fall and saw some incredible prices. In particular a place of less than 1500 sq ft, exposed wiring stapled along logs, windows with broken seals, particle board walls, sheets for closet doors, a driveway so overgrown we kept missing the turn, a "garage" with no access ramp and a floor that wouldn't support the weight of a golf cart, yard that hadn't seen a chain saw for 5 years, and they were asking $250,000. A quote from my realtor who's worked in that market for 25 years:

"Everyone with property to sell thinks they own the Taj Mahal".

[Music_Man]

Originally Posted by riceme

It's similar in the Fairbanks area. If you're lucky, the place has water.

I can't wait for Pitts to chime in. I'm going to get the popcorn... don't start without me.

Maybe he got hired!
http://anchorage.craigslist.org/grd/5927831003.html

[riceme]

Originally Posted by Music_Man

Maybe he got hired!
bud trimmer for hire

Bahahahaa!!

[riceme]

Originally Posted by Metlakatla

FBs sounds like a mess these days. Apparently, stealing Christmas packages is a thing now. WTH is wrong with people, anyway, stealing little kids' toys to sell for drugs.

I've noticed prices going up and up in Oregon and Washington, but that's being caused by out-of-state equity money coming in. I doubt the same applies to FBs, but who knows; someone's buying it and it doesn't sound like the local economy supports those prices.

It seems like theft in Fairbanks is out of control. Mail, vehicles, equipment, pets, snowmachines, 4-wheelers, you name it. Mail is probably the worst problem, although my niece's bike and cousin's wife's 4-wheeler were stolen in broad daylight while they were at church a couple months ago.

[Haolejohn]

We've been house hunting and if you think it's insane uo there, try coming here. Lol. I'm not willing to pay $250k for a crap home. If I want s decent one it's about $300k but even that is crazy.

[6.7traveler]

Originally Posted by AllisonHB

I was house hunting on the KP last fall and saw some incredible prices. In particular a place of less than 1500 sq ft, exposed wiring stapled along logs, windows with broken seals, particle board walls, sheets for closet doors, a driveway so overgrown we kept missing the turn, a "garage" with no access ramp and a floor that wouldn't support the weight of a golf cart, yard that hadn't seen a chain saw for 5 years, and they were asking $250,000. A quote from my realtor who's worked in that market for 25 years:

"Everyone with property to sell thinks they own the Taj Mahal".

That sounds like a steal. You have to pay extra for the Alaskan wiring job and the particle board. Everyone knows this .

Originally Posted by riceme

It seems like theft in Fairbanks is out of control. Mail, vehicles, equipment, pets, snowmachines, 4-wheelers, you name it. Mail is probably the worst problem, although my niece's bike and cousin's wife's 4-wheeler were stolen in broad daylight while they were at church a couple months ago.

We don't have a theft problem in Delta . At least none that I've heard of. That's crazy that people are stealing mail though.

Originally Posted by Haolejohn

We've been house hunting and if you think it's insane uo there, try coming here. Lol. I'm not willing to pay $250k for a crap home. If I want s decent one it's about $300k but even that is crazy.

I would like to build a dome house in a bush hub one of these days to sell. That's what surprised me the most is that you can't even get a tiny lot in any bush village for under $30k it seems. And 40%+ of building costs are freight alone. I'd like to do this because I can fit a 1000 square foot highly insulated outer shell in one or two airplane loads for $10-
$15k. This would be a great design for bush villages without barge service to save big bucks on shipping, building costs and heating bills.

[Haolejohn]

Originally Posted by 6.7traveler

That sounds like a steal. You have to pay extra for the Alaskan wiring job and the particle board. Everyone knows this .


We don't have a theft problem in Delta . At least none that I've heard of. That's crazy that people are stealing mail though.



I would like to build a dome house in a bush hub one of these days to sell. That's what surprised me the most is that you can't even get a tiny lot in any bush village for under $30k it seems. And 40%+ of building costs are freight alone. I'd like to do this because I can fit a 1000 square foot highly insulated outer shell in one or two airplane loads for $10-
$15k. This would be a great design for bush villages without barge service to save big bucks on shipping, building costs and heating bills.

We've decided that building is the way to go. And a dome is the top of our list. If we go that route I will contact you.

[stiffnecked]

Originally Posted by 6.7traveler

That sounds like a steal. You have to pay extra for the Alaskan wiring job and the particle board. Everyone knows this .


We don't have a theft problem in Delta . At least none that I've heard of. That's crazy that people are stealing mail though.



I would like to build a dome house in a bush hub one of these days to sell. That's what surprised me the most is that you can't even get a tiny lot in any bush village for under $30k it seems. And 40%+ of building costs are freight alone. I'd like to do this because I can fit a 1000 square foot highly insulated outer shell in one or two airplane loads for $10-
$15k. This would be a great design for bush villages without barge service to save big bucks on shipping, building costs and heating bills.

Couple of lots for sale over in Whale Pass for under $30,000.

[6.7traveler]

Originally Posted by Haolejohn

We've decided that building is the way to go. And a dome is the top of our list. If we go that route I will contact you.

Let me know of you do, I would love to get a dome out in dillingham.

Originally Posted by stiffnecked

Couple of lots for sale over in Whale Pass for under $30,000.

Wow, and they look pretty nice too. Never have heard of whale pass until this, thanks I'll check it out.

[Metlakatla]

What would you do with property in Whale Pass?

Whatever you do, don't build on it and use it as a rental. Renting to locals here is a recipe for hell.