Alaska Real Estate (sales, housing, prices, construction)

[undercovermom]

I will be moving to Anchorage within the next couple of months and have beeen reading everything I can find on real estate and the current sub-prime fiasco. So far the only data I've found is for the "south, west, east, and midwest" - there is never any mention of the market in Alaska and whether the housing problem is affecting that market as well..........any advice/suggestions on where I might find out the future prospects of this particular market?

Thanks

[walidm]

Originally Posted by undercovermom

I will be moving to Anchorage within the next couple of months and have beeen reading everything I can find on real estate and the current sub-prime fiasco. So far the only data I've found is for the "south, west, east, and midwest" - there is never any mention of the market in Alaska and whether the housing problem is affecting that market as well..........any advice/suggestions on where I might find out the future prospects of this particular market?

Thanks

If you will be a buyer in the Alaska market, which particular problem in the housing market has you concerned?

[undercovermom]

My husband is transferring to Anchorage and the plan is to stay only 3-5 yrs - if the market is dropping like the rest of the country, I don't want to buy only to lose money when I eventually sell. That's my area of concern! Thx

[walidm]

You can check with the local Realtor associations in the area in which you are planning to move. They should be able to let you know market conditions as well as long and short term outlook. If you need help finding a Realtor please let me know and I'll send ya some folks to talk to.

Interview them all and hire the one you like!

[CouponJack]

Originally Posted by undercovermom

I will be moving to Anchorage within the next couple of months and have beeen reading everything I can find on real estate and the current sub-prime fiasco. So far the only data I've found is for the "south, west, east, and midwest" - there is never any mention of the market in Alaska and whether the housing problem is affecting that market as well..........any advice/suggestions on where I might find out the future prospects of this particular market?

Thanks

undercover, anchorage is just like an overwhelmingly majority of what's going on in the lower 48. Inventory is extremely high, sales are off. Realtors up there are trying to sping things by saying "home prices are flat or rising", (which is very deceptive as we all know).

You are in a good position if you are looking to buy.

adn.com | front : Shift in housing market (http://www.adn.com/front/story/9307906p-9222368c.html - broken link)

[flu189]

Originally Posted by undercovermom

I will be moving to Anchorage within the next couple of months and have beeen reading everything I can find on real estate and the current sub-prime fiasco. So far the only data I've found is for the "south, west, east, and midwest" - there is never any mention of the market in Alaska and whether the housing problem is affecting that market as well..........any advice/suggestions on where I might find out the future prospects of this particular market?

Thanks

We sold our home and left Anchorage back in June 2005. There used to be a pretty good MLS website with lots of data available, but now it is not available for public access. I don't know your situation is in terms housing needs and requirements, but what I can tell you after having lived in Anchorage for 22 years is that we went through two boom and bust cycles. The last house we had we bought for 282k in 2000 and sold it less than five years later for 469k. I realize that that increase in price is not as steep as in many other markets, but it was my impression that right before we left there was quite a bit of overbuilding going on there and from information I get from some that stayed behind the prices for new construction have gone through the roof since we left. Point being, if you are only going to be there a few years I would definately look to rent and then once there carefully analyze the market. No one has a crystal ball, but after the collapse of the late 80's I would definately not want to get stuck holding on to a home there with the cost of living being what it is. We did know many folks that through their employers (primarily oil companies) were well taken care of by their respective employers as part of their benefits, but if you are not privy to such a deal and are going at it alone I would recommend caution.