The Glenda Feeken Team

Global Warming Alaska's Kenai Peninsula

I don't know how many times in the last two weeks I've heard people ask "Where is  global warming?" It has been a long spell of -34,-24,-33. This morning at -15 it felt balmy! Last night at 8 P.M. it was still about 9 above zero. It made walking the dogs a joy. The cold weather brings beautiful clear days and nights. The moon has been making for a brilliantly lighted wonderland with sparkling snow, ice crystals and soaring mountains across the inlet.

Believe it or not, houses are being shown and buyers are buying at these arctic temperatures. This is driven by great interest rates, good inventory and correctly priced properties.

FHA & VA rates 5%

Conventional 4.75% if you have a 740 credit score or higher and a good loan to value ratio.

2009 Kenai Alaska

We are four days in to the new year. If the last week 2008 and 4 days of 2009 are any indication of the year to come Real Estate will being fine on the Kenai. Transaction on 2 homes were put together and 1 is in negotiation, an 2 more have very interested lookers. I am sure part of this is due to the really great interest rates. Who is not excited when they see rates at 4.5 to 5.5%.  Hopefully they will stay in that range for a while.

The inventory of homes is normal for this time of year. We see very few foreclosures. That is a plus.

So if you are looking to buy or sell what are you waiting on?

Buyers interest rates are fabulous!

Sellers inventory is low!

IT IS TIME TO BUY OR SELL!

Here's to 2009

Well I am really glad to see 2008 gone. It was a sad year for me. My husband and business partner of 31 years passed away in early October.  He had a reoccurrence or maybe it was really never gone of oral cancer. No he was not a smoker or chewer. I know many other people found 2008 challenging as well. The stock market, the real estate market etc made for a tough year for many. So hopefully 2009 will be easier.

 

Real Estate on the Kenai Peninsula is doing great. Prices are not shooting upward, but are holding steady. Interest rates are wonderful, how can you not like 5%? The selection of properties for sale are good in most price ranges. What I see is a healthy real estate market for both buyers and sellers in 2009. I am looking forward to a very productive year in real estate on the Kenai Peninsula.

KENAI RIVER DREAM HOME'S

This Impressive Kenai River Front Estate has 4.91 acres. The new construction project includes 2 twin  post and beam homes (2,179 sq. ft. each), 2 garages(538 sq. ft. each) and caretakers cabin(944 sq. ft). Enjoy the beautiful post and beam construction of the twin homes, soaring rock fireplaces with hide-away 52" TV screens, walnut flooring, slab granite counters in kitchen, custom cabinets and built-ins throughout. The bathrooms enjoy custom tile work and granite accents. Each home enjoys a 442 sq. ft. deck overlooking the river. On completion the homes including the caretakers cabin will be fully furnished and move-in ready. Just bring you, your family and friends, or make this the perfect corporate retreat. World class salmon fishing is at river bank's edge. This is the perfect home for all seasons. www.glendafeeken.com 

www.alaskarealestate.com

MLS Listing Number 08-12311

Hi! The Blog Is Back

This is the perfect time to buy real estate. The interest rates are good. Qualifying for a loan is not hard. Yes you are going to need good credit and a down payment, that is not a lot to ask. FHA will allow for a 3% down payment. You will need money for closing cost. With some sellers it is possible to negotiate with them to pay all allowable closing cost and reserves.  So what are you waiting on? There are other conventional loan programs with 5% and 10% down payments depending on credit scores. To move away from PMI you will need 20% down. Are you waiting on interest rates to go up?

 

FHA, VA, Conventional rates today!  6%

 

There is a nice selection of homes on the market in all price ranges. There are also some screaming deals. I can think of several off the top of my head. Then you have the ones that are priced over market, because the listing agent is afraid to have the market value reality talk. So for us here in the Central  Kenai Peninsula it's a normal real estate market. So you need to get off the fence and find your dream home. I'll have you moved in before Christmas, Thanksgiving if you hurry.

ALASKA'S KENAI PENINSULA PREMIER AIRPARK (SCOOTERS LANDING)

I was just reading in the July/August 2008 edition of The Residential Specialist, a magazine article about the popularity of airparks with plane owners in the lower 48. These residential airparks are communities built around grass or paved runways.  David Sclair, co-founder of Living.com says there are more than 600 airparks in the United States, with the majority in Arizona, Colorado, Florida, Texas and Washington.

Scooter's Airpark located in Sterling, Alaska is prime example of a subdivision dedicated to a quality experience for airplane loving owners. The developer made every effort to provide the perfect environment, good protective covenants, 100' X 2,500' East/West gravel runway which is maintained year round, with taxi ways to all lots. This subdivision is developing with an impressive grouping of homes with hangers, hangers with apartments and  hangers. What makes it even better, you are just minutes to world class fishing on the Kenai River. What could be better than flying and fishing?

There are lots, and lots with hanger/apartments currently available.

Email gfeeken@alaska.net  for more information

WHAT IS STAGING?

When it is time to sell your home the word staging seems to be in every article you read and every conversation you have. What is staging really?

Staging is the difference of how you decorate to live in a home and how you decorate to sell a home. When staging, you remove the "visual dandruff" is how this was explained to me.  Clutter that isn't your average mess. It is the newspapers, mail, laundry, knickknacks, hobby stuff (for me books) that accumulates in a house that is well-lived in. This clutter eats up visual space.

So If you have a book shelf, pack up at least two-thirds of the books and put them away. For furniture, remove enough to give the room a spacious open feel. Try to highlight the focal point of the room, such as the fireplace or view.

Take your personality out of the home. You never know what will not appeal to a buyer's taste. Pack up the hunting photo's, hide the sword collection, remove the family pictures, the religious items, etc.

Freshen up the home. Wash the windows inside and out, steam clean the carpets, paint any walls that need paint, make the bathrooms sparkle, buy new towels, bath mats, and shower curtains if old ones show wear. Don't forget to clean that "visual dandruff" out of the kitchen cabinets. Don't forget to move the cats litter box out of site. Oh yes, the outside too. Pressure wash the deck and restain if necessary, freshen up the front door,paint if necessary, mow the lawn, trim and edge as needed.

Rent a storage space. Move the boxes out of your garage.Remember this is not about how you really live. It is about how your home shows to a buyer. People are often moving because they want more space, so try to show how spacious your home is.

JUNE RESIDENTIAL SALES 2008

AREA	SOLD 07	SOLD 08	AVERAGE SALES PRICE 07	AVERAGE SALES PRICE 08
N. KENAI	6	3	116,417	211,800
KENAI	12	9	175,249	192,211
K-BEACH	14	7	214,333	250,443
S OF SOLDOTNA	1	0	189,000
KASLIOF	3	0	218,167
SOLDOTNA	9	8	196,694	266,410
RIDGEWAY	4	3	240,750	133,500
STERLING	5	5	228,741	150,780
FUNNY RIVER	2	1	119,750	115,000

Our summer is shaping up nicely. We have a good inventory of homes, interest rates are staying steady.

Interest Rates for July 2, 2008

FHA,VA,CONVENTIONAL 6.5%

AHFC 6.125

TIME TO BUY ON THE KENAI

There are 340 properties on the Multi Listings Service for the  Central Peninsula Area(Sterling, Ridgeway, Soldotna, Funny River, South of Soldotna, Kasilof, K-Beach, Kenai, and North Kenai). A buyer has a good selection of homes in most price ranges. In most areas the selling price of the homes  are up  slightly over 2007 selling price. The National News Media is Real Estates worst enemy, as they only talk doom and gloom which is not the reality of most of the U.S. and certainly not Alaska. The Central Peninsula's market is strong and healthy if home's are priced with in market, for age, location, and condition.

Interest rates have been trending upward slightly. This said they are still wonderful!

Conventional,FHA,VA, 6.62     ALASKA HOUSING RURAL 6.25%

On Wednesday the 25th the FED'S will meet again this should not have an impact on interest rates, but that depends on their statement on the economy. The stock market is making the interest rates bounce around, so hopefully it will settle out so interest rate will also settle in.

So with that said what are you waiting on? You have a  good selection of properties, good interest rates, and a choice of loan programs. Now's the time to buy your primary home, or your second home.

ALASKA IN JUNE

These pictures were taken on Turnagain Pass on the way home to Kenai from Anchorage last Saturday, June 14, 2008. The pass still has lots of snow. I think we are going to have a cool summer. The temperature was a high of 59 in Kenai today, June 18th. The projected high temperature for the next five days is  61. The best thing about the cool temperature is fewer mosquitoes. Sorry didn't get any pictures of the combat fishing on the Russian River.