The Glenda Feeken Team

INTEREST RATES DROP

The Fed's dropping the interest rate is wonderful. It makes the phone ring and I get to talk with people that I haven't talked with for a while. The average person hears  about interest rates at 3 percent they automatically focus  on mortgage rates. When in reality what the Fed's dropped was the Federal Funds Rate, that is what banks charge each other for overnight loans. Mortgage rates tend to move up or down in anticipation of what the Fed's will do whether it is lowering interest rates, putting out reports on unemployment  numbers etc.  What really has the biggest impact on  mortgage rates is the action of the bond market.

Today's interest rates:

Alaska Housing Rural 5.5%  30 year fixed

FHA, VA, Convectional 5.75  30 year fixed

Mortgage rates are great!

ALASKA LAND

Are you looking for that perfect spot with a view for you home I have some great suggestions.

Between Soldotna and Kenai off Strawberry Road  perfect for a walk out basement.  1.02 acres MLS 07-18240   $14,000

North Kenai MILLION DOLLAR VIEW of Inlet, Mountains, Whales, Boats, Sunsets, and more, paved roads most of the way  gas and electric 2.02 acres MLS 05-03046 $30,000    

Off Forest Drive, Sterling INCREDIABLE VIEW of Mountains and Valley electric and gas, great new subdivision  with  lots  of appeal 1 acre MLS 07-18240  $65,000

Kenai City Inlet Frontage lot with beautiful inlet view  of mountains, boats, whales, sunsets, northern lights  one of a kind  $200,000 MLs 07-12844 $200,000  To find the perfect lot close to Kenai River fishing, or a lake to enjoy fishing, ice skating, or a more country location for snow machining go to www.glendafeeken.com  or call 907-252-2743

TIME TO BUY ON THE KENAI

Interest  Rates on January 16, 2008

FHA & VA  5.75                                                          CONVENTIONAL 5.265                                                                            AHFC RURAL  5.5

These interest rates are really incredible, the multi listing services shows 222 homes for sale in the Central Kenai Peninsula area.What are you waiting on it is time to purchase your fishing cabin, or your year round home. If your looking to up grade don't wait.  Call today or email today for a list of homes. gfeeken@alaska.net or 907-252-2743 cell

GREAT TIME TO BUY

Interest rates are great! Selection is great! So what are you waiting on? Check out this new listing MLS 08-416                 

34765 SILVERWEED STREET          $199,000

What a beauty this 2 bedroom, 1 bath, 1,120 sq. ft home  a real find. It has radiant in-floor heat, custom kitchen with upgraded appliances, tile floor, love all the extra lighting touches, you will love the easy flowing floor plan, the 768 sq. ft garage is perfect for all your toys. Large back deck, nice lawn. So don't wait call today.

36980 CHINULNA COURT, KENAI ALASKA

Kenai Alaska Townhouse  is located close to public beach access,enjoy dipneting, quite walks by the water or visit  to Kenai Landing.What a classy townhouse, experience the feel of elegance as you step in to this 3 bedroom 2.5 bath 1.602 sq. ft unit. Enjoy the warm play of neutral colors, the accent of black granite fireplace, the large open kitchen makes entraining easy. Step from the living room to a small fenced back yard where you can indulge your greenthumb. The first floor bedroom with large master bath is a real plus. This home is a must see.

2007 STATISTICS BY AREA RESIDENTIAL

AREA	# SOLD 2006	# SOLD 2007	AVG SALES PRICE 2006	AVG SALES PRICE 2007	AVG DAYS ON MARKET 2006	AVG DAYS ON MARKET 2007
N. KENAI	59	46	160,830	173,942	130	145
KENAI	122	93	157,235	163,898	114	111
K-BEACH	92	96	195,655	206,407	133	107
S OF SOLDOTNA	22	16	178,237	270,764	153	83
KASILOF	21	21	194,724	184,414	215	161
SOLDOTNA	54	68	174,758	214,648	119	112
RIDGEWAY	35	30	175,632	228,440	145	141
STERLING	75	60	187,239	170,145	137	168
FUNNY RIVER	24	17	233,055	224,206	213	124

TOTAL SALES 2006   504

TOTAL SALES 2007 447

With all of the negative news on the housing market and mortgage foreclosures the 2007 housing market in the Central Peninsula was very robust. I look for the Central Peninsula, to exceed 2006 sales in 2008. We ended 2007 with a very active and vibrant residential market.