Anchorage Home Values projected to sky rocket with AFB closure?

[highlife2]

Originally Posted by Dakster

So, Anchorage, works like the rest of the world. Glad to know.

GoNorth9 -Since you have a mobile business --and this is just my.02- Does it really matter all that much where you live? As long as you are living in an area with a bunch of other people?

I'm not advocating living in Haines to do business in Anchorage -- But Palmer/Wasilla, ER, etc.. shouldn't be horrific.

I do think renting and looking around is good. It also will allow you time to figure out where you end up most of the time.

Yes, which is why its irritating when people try to candy coat it.

[Gonorth9]

Ya... renting sucks. Wife and I did that for ten months back in 07 while looking for our current home.

We are definitely renting for at least one year since we do not know the area that well. By then I'll have a better grasp on whether it not the drive is worth it. I'm ok with a commute of 45mins or less with minimal traffic.

@highlife2
Just to put your mind at ease (I know you're loosing sleep over this) - there are lots of companies in Anchorage providing most of my services. The difference is HOW I provide them and at the reduced cost that I am able to provide. I'm super sure I will be able to eat but I thank you for your wise concerns. :-)

[Sweden]

Originally Posted by Gonorth9

Ya... renting sucks. Wife and I did that for ten months back in 07 while looking for our current home.

We are definitely renting for at least one year since we do not know the area that well. By then I'll have a better grasp on whether it not the drive is worth it. I'm ok with a commute of 45mins or less with minimal traffic.

@highlife2
Just to put your mind at ease (I know you're loosing sleep over this) - there are lots of companies in Anchorage providing most of my services. The difference is HOW I provide them and at the reduced cost that I am able to provide. I'm super sure I will be able to eat but I thank you for your wise concerns. :-)

My business is in Eagle River (yet I live in Anchorage, shoot ...) and the commute between ER and Anch is about 20 minutes in normal traffic. Now, during rush hour or when there's been a crash and people are rubbernecking (oh my, a few months ago there had been an accident just past the weigh station coming towards Anchorage, but that lane was completely open, yet the lane coming towards Eagle River - and mind you, it was the opposite lane from the one where the accident had been - was backed up all the way to Taco Bell in Anchorage! Only due to rubber necking!), it can be a little bit longer. But normally not more than 40 minutes even in worst cases.

I know plenty of people who live in the Valley, even as far out as Willow, who commute to Anchorage every day, including winter, so really the commute isn't that bad. The houses are way better out there and much cheaper, too.


And as a business owner to another ... Market is tough in Anchorage, seeing that there are so "few" available customers here, and many seem to "live paycheck to paycheck". As long as your up for it though, you should be able to make it work.

[phlinak]

Originally Posted by Gonorth9

Wow... that's frustrating! As a soon-to-be newcomer, the housing situation is bleak. I'd love to see something open up to allow the housing market to loosen up a bit. Right now, I'd love to plan on renting in Anchorage but I've heard so many talk about the quality of homes in my price range (2500- per month) being poor. When we're ready to purchase, I've been told that to get something nice we need to look in the 350k+ range. That's going to force us north towards Eagle River or God forbid farther!
It's a pretty big item on our 'Cons' list when we look at moving up there. Currently, the Pros are still winning.

Originally Posted by Gonorth9

Lol.
I happen to like what Debbie Downer said, though! Unfortunately, I am my employer so I need to talk myself into giving me a raise... done!
I will be moving my business there and will be raising my prices for services accordingly.

Still, it will take me a year or two of renting at $1000 a month more than my current mortgage to save enough to purchase a home comparable to what we have here. Not complaining - no one is forcing me to move there - I see the opportunity to be the only company in town so it's worth it.

I agree with highlife's advice. Please be very certain about your decision because Alaska is the place where dreams come to die. Seriously, for every person who finds this to be their utopia, there are at least ten, who get chewed up and spit out by Alaska. I know people who came with money and it disappear because of the expense of both living here and running a business.

Also, if you are married, please make sure that your spouse is 100% in lockstep with your decision because this place can also put a major strain on your marriage and there are many divorced people on this forum that can attest to that.

Otherwise, good luck to you and God bless.

[Gonorth9]

All good sound advice! Thank you!

I'm in the process of talking with potential customers in Anchorage and have so far received a very warm reception. Since I am a service industry who deals in the automotive industry, both wholesale and retail, there will be plenty of business for me to go out and get. On average, it takes 100-150k people to support one person in my field. I believe Anchorage has about 300k. I've heard that there is plenty of money in Anchorage (which half of my business caters to those with disposable income) and I've heard that living is tight because of costs (which half of my business caters to those on a budget). I've always said that my business is recession proof because when times are good, people spend money, and when they are tough, people need to save money. I facilitate both and since I've been doing this successfully since 1995, I feel I have the track record to back that up.

As far as the wife is concerned... this was originally her idea! I'm the one who will be going out in the weather each day!

[highlife2]

Originally Posted by phlinak

I agree with highlife's advice. Please be very certain about your decision because Alaska is the place where dreams come to die. Seriously, for every person who finds this to be their utopia, there are at least ten, who get chewed up and spit out by Alaska. I know people who came with money and it disappear because of the expense of both living here and running a business.

Also, if you are married, please make sure that your spouse is 100% in lockstep with your decision because this place can also put a major strain on your marriage and there are many divorced people on this forum that can attest to that.

Otherwise, good luck to you and God bless.

Once you loose your wife here you will be hiring out or lowering your bar big time, there are no shortage of males who will pay attention to your wife if she is even slightly cute so don't make her unhappy

[twittertinavane]

Originally Posted by creativelytaylored

I would say to get a "reasonably" priced home you would have to move to the valley, but for us the commute wasnt worth it (10+ hours a week) so we chose a fixer in town. We fixed it It worked out well. The housing market here definitely is appreciating, and I wouldnt rent here if I could help it. Maybe until you decide what area of town youd like to live in. But you always pay a good portion more in rent than in mortgage ( why else would your landlord be renting it if he/she wasnt making any profit?) And as far as costs of taxes etc... that all gets passed right down to you a renter, just like the cost of shipping and taxes gets passed on to us as consumers. Property taxes are high in the Muni. The landlords just factor that right into your rent lol.

They really dont have a good solution to our housing problem and as long as the population here in the city continues to grow and the Feds do not open up any build able land, housing will continue to be very high. You just make the most of it you can and decide for yourself how you want to live. Is it worth the 10 hours of commuting a week to get a great house, newly built, on an acre for $280? Vs. staying in town and getting a fixer upper on a much smaller lot for the same? Decide on your price and what you can afford and then where you can make the compromise. Renting is right for alot of ppl. And there is no risk at all when you rent. BUT you are paying someone elses equity, you are making them a monthly profit, and you are paying a great bit more for where ever you live than you would pay for taking the risk of a mortgage yourself. However... you can leave when your lease is up, and there is no responsibility at all in it. Ups and Downs.

Here in anchorage though I find most ppl pay about a 3rd of their monthly income to their housing costs.

i thought i read somewhere that they just finished building another housing project or in the mist of building a new one or so