Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Alaska > Anchorage
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-27-2013, 01:07 PM
 
Location: Bliss Township, Michigan
6,424 posts, read 13,184,410 times
Reputation: 6902

Advertisements

To go along with Dakster's comment, I have to wonder what will support AK in the future. I've met and seen quite a few people, families, that have recently move here from AK. One of those are right up the road from us in a really nice old farm. What's being told to me is, "we're getting out while the getting is good, and Alaska is going down economically very quick".
I will always have Alaska in my heart, and I will be back again some day for a long vacation, there are far too many reasons for me to stay put here, or with luck retire soon along the Superior coast.
Reply With Quote Quick reply to this message

 
Old 10-27-2013, 11:22 PM
 
4,463 posts, read 6,210,668 times
Reputation: 2046
If it looked like oil and gas was drying up for good that would not really be a catalyst per say that would be a catastrophic failure of the entire state. It would need to be something that produced a sharp decline in housing prices but that returned to normal after say 5 years. I think if the state tax structure and the fed interference tanked oil and gas up here they would quickly realize it once the money dried up and they would actually cut spending to the bone or even to the marrow.

I just cant get myself into a mortgage for the price points that most of these places are going for around here. The bridge would be wonderful but I do think its non construction is politically motivated by anchorage land owners, people that bought high need it to go higher otherwise they will be bust/bankrupt.
Reply With Quote Quick reply to this message
 
Old 10-28-2013, 08:20 PM
 
Location: North Eastern, WA
2,136 posts, read 2,301,232 times
Reputation: 1738
I do not see the land value argument holding water, Anchorage is basically out of buildable space, thus, basically, the reason for so many commuters from the valley.

The predominant arguments against the Knik arm bridge are a great influx of traffic immediately hitting downtown(infrastructure concerns-like has never been an issue), cost, the fact that driving time/distance is essentialy equal to the Glenn HWY route and toll access. If any property owners/investors want values to increase it would be those who own land in the Point MacKenzie/KGB areas, as that land would become much more desirable than it is presently since those who live there currently must circumnavigate Wasilla in-route to Anchorage.

Also Mortagage prices, or at least the assesed value ($290K) on my home in Eagle River for the past 3 years-2011-2013 has only increased by $2700.00, and I would not expect them to fall significantly, or at all, unless a dramatic economic downturn to the state/local economy occurs. Personaly, if I were in the market to purchase a home now, I would do it and not delay or attempt to anticipate a golden buyers period in the future.
Reply With Quote Quick reply to this message
 
Old 10-28-2013, 11:43 PM
 
4,463 posts, read 6,210,668 times
Reputation: 2046
Quote:
Originally Posted by AK76 View Post
I do not see the land value argument holding water, Anchorage is basically out of buildable space, thus, basically, the reason for so many commuters from the valley.

The predominant arguments against the Knik arm bridge are a great influx of traffic immediately hitting downtown(infrastructure concerns-like has never been an issue), cost, the fact that driving time/distance is essentialy equal to the Glenn HWY route and toll access. If any property owners/investors want values to increase it would be those who own land in the Point MacKenzie/KGB areas, as that land would become much more desirable than it is presently since those who live there currently must circumnavigate Wasilla in-route to Anchorage.

Also Mortagage prices, or at least the assesed value ($290K) on my home in Eagle River for the past 3 years-2011-2013 has only increased by $2700.00, and I would not expect them to fall significantly, or at all, unless a dramatic economic downturn to the state/local economy occurs. Personaly, if I were in the market to purchase a home now, I would do it and not delay or attempt to anticipate a golden buyers period in the future.
I have lost the energy to be on the wrong side of the supply and demand curve, if I cant figure out a way to give myself some significant leverage then I don't need to buy. The last resort is to live simple in anchorage and build a dream home else where to retire that has hill side like qualities without the huge price tag.

I agree that the land owners on the other side of the bridge would make a lot but they have been carrying the taxes on that land for who knows how long as purely real estate speculation so im not sure how much they would really make.
Reply With Quote Quick reply to this message
 
Old 10-29-2013, 04:03 PM
 
4,715 posts, read 10,477,220 times
Reputation: 2186
Quote:
Originally Posted by highlife2 View Post
I have lost the energy to be on the wrong side of the supply and demand curve, if I cant figure out a way to give myself some significant leverage then I don't need to buy. The last resort is to live simple in anchorage and build a dream home else where to retire that has hill side like qualities without the huge price tag.

I agree that the land owners on the other side of the bridge would make a lot but they have been carrying the taxes on that land for who knows how long as purely real estate speculation so im not sure how much they would really make.
I agree with your thinking on this Highlife2... I would be scared after being burned as well.

You need to make money when you own the real estate. Make money with it by either having a business on it or renting it out, if that is what you are trying to do. Either that or quick flips, but I know a bunch of people that lost everything they made over 6 years flipping and then some, when the market tanked. All they were doing were 1 or 2 quick flips at time so the 2 houses they got stuck with killed all the previous profits made. So even short term owning can be risky. Problem is when it tanked, it tanked quick and fast. And of course since it was their only source of income as they all quit their 'day job'.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Alaska > Anchorage
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top