More Housing Questions (Juneau) (extended stay, for sale, real estate)

[juneaubound]

I found this link that describes real estate sold this year:
Juneau Real Estate & Juneau Homes For Sale — Trulia.com

The first thing that jumped out was that there's not a lot property that's been sold (according to this site two in September, one in August, two in July etc).

Second thing was that selling prices of these homes that have sold look to be quite a bit less than homes that are currently on the market up there. There's descriptions of the homes sold, but couldn't find pictures, so I don't know what they look like. But by the descriptions, many sold are similar in size/scope/locations of the ones I've been looking at online.

Some questions I hope to find answers to:

1. Like everywhere else, real estate prices in Juneau have gone down over the past year. And many houses on the market right now, have been on the market for what seems like a long time (some almost a year). How do "asking prices" vs "selling prices" compare?

I know it seems simple enough - just make an offer and see if it flies. But I'm trying to reconcile the prices of the houses that sold this year and the prices of homes currently on the market. They're not jibing in my head. 'Course, I have a tendancy to overthink things too, so smack me down at will..........

2. Renting vs buying. Give me your thoughts. I can buy almost as cheaply as renting. But houses are staying on the market for a LONG time in Juneau, so if my new life in AK all turns to hell, I may be stuck with a house I can't sell.

3. Does anyone know anything about foreclosures? I guess I have to register somewhere to find info on them, and I haven't done that. But I see the satellite picture (which shows nothing of value unless you register online). Any info on foreclosures would be appreciated.

Also still planning on staying at an extended stay hotel for the first couple of months after I get up there - no long term committments, can check out the area, take some time to find some place to live before SO/dog/personal stuff gets up there.

Thanks!

[warptman]

1. Click on Search and type in Juneau

2. Click on Search and type in Juneau

3. Click on Search and type in Juneau

[warptman]

http://www.city-data.com/forum/alask...au-alaska.html

http://www.city-data.com/forum/alask...ng-juneau.html

http://www.city-data.com/forum/alask...-averages.html

[juneaubound]

Originally Posted by warptman

1. Click on Search and type in Juneau

2. Click on Search and type in Juneau

3. Click on Search and type in Juneau

1. Thank you

2. Thank you

3. Thank you

[juneaubound]

I have read those threads and they only partially answer my questions. If anyone else has info/feedback I would appreciate it.

4. But thank you again.

[Grannysroost]

Originally Posted by juneaubound

1. Thank you

2. Thank you

3. Thank you

I know nothing about Juneau real estate, but that was great reply

[NomadicBear]

It barely matters what state you're looking in though some are worse than others; asking prices for real estate remain absurdly high as compared to selling prices, or what average wages in each respective area afford. The chasm is truly remarkable. That's why a quick once over of listings says nothing about the market. I've seen houses in WA that have been for sale for 3 years. Yes, three years! Most of the time, it's either longtime owners trying to hit some fantasy lottery, or someone who's seriously upside down and trying to get out whole. Also, there are some terrible used house salespeople out there who are brain dead and should be serving up burgers at McDonalds, not offering advice to prospective home sellers.

Sellers won't like this, but now is a very poor time to purchase a house. Not only are prices declining, but the economic landscape is so uncertain that you could very well be "stuck" with a house you cannot sell and then it's "hello foreclosure". There's never been a better time to be a renter.

[LAAngels]

If you buy you MAY never see that money again

If you rent you WILL never see that money again

[Marty Van Diest]

Get ahold of Debbie White... here is her blog Debbie's Blog & Ramblings

She will give you the straight scoop.

Depending on what you can rent vs buy it is often better to rent. The main reason a person should buy is to lock in their home for the long term. You are buying long term shelter and the freedom to do what you like with your shelter. A home is not an investment or even really an asset since it does not produce income.

It appears that you can rent a 2 bedroom condo in Juneau for about $1200 per month. You might want to do that until you have your feet on the ground there for awhile.

[juneaubound]

Marty, thanks for the link. That's good stuff right there.