One of the primary basics of economics is supply and demand. When there is too much product prices normally fall. When there is an undersupply of inventory, demand is high so prices increase. When inventory does not have a market to reduce the inventory, prices will continue to drop.
I have had experience with both housing markets when it comes to real estate. In one market the number of houses was very low. There were many buyers and multiple offers where common place. You had to restructure you offers in order that you still protected your buyer, but provide them opportunity to be a homeowner. It was a fine line, and sometimes it wasn't worth the risk of putting my buyer in a comprimising position.
The Anchorage real estate market is very different. There is not an oversupply of houses, but the current plan makes it possible to reduce the number of buyers. This could upset the inventory balance with fewer buyers. While with RE/MAX in Anchorage I am proud to say the market is balanced and safe, but now the current administration has released their budget and it could upset the balance between buyers and sellers.
The new adminstrations proposed annual budget, will limit the amount of people that will deduct mortgage interest. It has limited the amount of interest deductions for taxpayers earning over $250,000. This will hamper those individuals from becoming move-up buyers, first time buyers, and maybe second home buyers. They have no incentive to buy a home, which is what the current plan should be, to increase and give incentives to boost the Alaska housing economy.
There are some new ideas being tossed out, but overall I'm becoming less convinced they are going to have the positive impression we need.
Anchorage Alaska REALTORs, Experience is the Difference
Sunday, March 1, 2009
Monday, January 12, 2009
What's the First Step?
It's always fun to explore new things, collect information and then act on your information.
How many times though have you followed what someone else has done, maybe tweeked it a little and found a favorable outcome?
I think in learning how to purchase your first new home, you should use both approaches. Everyone thinks because I have a Sales Associate title I'm in sales. I really just provide information. I can make anyone do anything they don't want to, unless I enduce them and that's illegal. I hate my title, but who can I complain to, since it has been established through decades of other individuals. Some who I wouldn't want helping me tie my shoes.
Finding a good agent though to help you gather information, in the beginning is very, very helpful. It isn't always necessary, but it does help guide you away from risk. Of course you need to have a good basis for finding that person to help you.
No one likes to interview or fire people. I've done both. I cried the first time I had to fire someone. She was a little old lady and really wanted to help, but just didn't have the right skills. She wasn't a bookkeeper... more of a nanny.
Anyway that's what it takes to hire a good real estate professional. The process of hiring. Who does this in their daily job. Hardly anyone. We all exceed in our personal lives, based on the skill or profession we practice. Most of us aren't in Human Resources.
I have questions to ask agents for two reasons. One the public needs help figuring out what questions to ask and skills to hire. The second is I work with agents all the time. There is a different nitch, skill and experience level for all of us. Someone always has to start with a shovel before they move up to the loader.
How many times though have you followed what someone else has done, maybe tweeked it a little and found a favorable outcome?
I think in learning how to purchase your first new home, you should use both approaches. Everyone thinks because I have a Sales Associate title I'm in sales. I really just provide information. I can make anyone do anything they don't want to, unless I enduce them and that's illegal. I hate my title, but who can I complain to, since it has been established through decades of other individuals. Some who I wouldn't want helping me tie my shoes.
Finding a good agent though to help you gather information, in the beginning is very, very helpful. It isn't always necessary, but it does help guide you away from risk. Of course you need to have a good basis for finding that person to help you.
No one likes to interview or fire people. I've done both. I cried the first time I had to fire someone. She was a little old lady and really wanted to help, but just didn't have the right skills. She wasn't a bookkeeper... more of a nanny.
Anyway that's what it takes to hire a good real estate professional. The process of hiring. Who does this in their daily job. Hardly anyone. We all exceed in our personal lives, based on the skill or profession we practice. Most of us aren't in Human Resources.
I have questions to ask agents for two reasons. One the public needs help figuring out what questions to ask and skills to hire. The second is I work with agents all the time. There is a different nitch, skill and experience level for all of us. Someone always has to start with a shovel before they move up to the loader.
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