FeaTurIng LocaL reaL esTaTe
Ask Cora
Hey Cora, so what is going on with this real estate market? Everything seems way overpriced. Can you tell me what’s going on? Signed Totally Mad and Confused
Dear Mad, well yes, I can actually help you understand what is going on in real estate. We can break all this down into bite sized pieces. 1) Low inventory. A few years ago, we had interest rates all the way down to 2.5%. People that purchased homes at that time, really love their current house payment and now, even to just replace that current house that they live in would cost them a lot more per month. Just for the sake of math, let’s say that you own a house, you bought it for $350,000 in 2021. Your interest rate was 3.2%. It’s a 3 bedroom, 2 bath home with a 2-car garage on an acre. Your payment, principal and interest is $1297.40 (for just principal and interest not your taxes, insurance etc.) That house today is worth $400,000 and interest is at 7%. This means that your principal and interest would be $2661.21! More than double your current payment. This is why inventory is low – because it’s a significant jump in payment to sell your old home and to purchase a new home. You do have $50,000 equity in that home, and if you put all $50,000 of down on a new house at $400,000, your payment is still $1000.00 per month more. This is why inventory is low, people are selling only when some life changing event has happened and they must move.
2) Value increases. Because supply is low, what
happens? Prices go up. Because there is less to choose from, the nice properties go up in value, and that causes the “not so nice” properties to go up as well. We had two events happen at the same time, inflation and low inventory. It’s kind of a perfect storm.
3) Increase in Wages. Yes, some people did get an increase in wages, some of that was due to inflation, and some was due to just plain showing up and working hard. For some reason, showing up and working all day is the new norm for an excellent employee. But most people did not get raises that covered the rate of inflation. Couple that with interest rates, and it makes buying a home financially harder.
4) Rental Properties. These too have been affected by low inventory and the need for cheaper housing options. Vacancy rates in our area are way down and I have people calling me all week looking for something in a decent price range. With inflation, and cost of real estate increasing, rents have to increase as well. Investors will not invest if they cannot make the numbers work, it needs to be a good business decision. This whole article sounds like a big bummer! It’s time to look at the bright side of things. For
those of you who own homes currently, you have a nice pocket of equity, that will help when things stabilize. I don’t mean when prices fall –because we don’t see that happening in the lower price ranges. In the upper price ranges, we are seeing that a bit, just more on the market there now because of new construction. There are still properties between $800k and 1.5 million that are getting multi offers – yup that is still happening, however, I am seeing more price reductions than we had last year at this time in the upper price ranges.
Lower prices are really competitive right now.
$350,000 and under, this is where first time home buyers are, and they are struggling to find homes that fit their needs. Here is what you need to compete:
1) You MUST be pre-approved before even looking at a house.
2) Use programs that are available through Alaska Housing and other program to help you afford the most home you can.
3) Expect multi offers. Consult with your realtor to help you make a competitive offer.
4) Decide if you’re willing to compete.
5) Know your top dollar.
6) Ask your realtor for expert ways to win the bid without going over your top dollar.
7) Ask about buying down the interest rate. In some cases, the seller can buy the rate down for you.
8) Consider a sunset clause.
9) Consider an escalation clause.
There you have it... now let’s take on this market!
F un and games
The objective is to fill a 9×9 grid so that each column, each row, and each of the nine 3×3 boxes (also called blocks or regions) contains the digits from 1 to 9 only one time each.
Find the words hidden vertically, horizontally, diagonally, and backwards.
C ommunity
Valley Charities Mat-Su Reentry Program provides a path to success
By Randi Perlman
Our pathway through life can take many twists and turns along the way. Poor decisions can sometimes create serious problems and can lead to prison time for some Mat-Su residents. The focus and goal of the Valley Charities MatSu Reentry Program is to help these individuals integrate successfully back into the community by setting them up for success with skills to contribute to society in a positive way. Successful reentry has been noted across the country in reducing crime and imprison rates.
The Mat-Su Reentry Coalition (MSRC) is a collaboration of individuals, community stakeholders, public and nonprofit agencies, faithbased and business partners who are united and committed to reducing recidivism among returning citizens to the Mat-Su community. MSRE works on high-end problems, aiming to remove barriers to reentrance for those citizens who are seeking a new start after incarceration. The Coalition is geared toward a very specific target population which is individuals of medium to high risk to re-offend and recidivate to prison. Age can range anywhere from eighteen to ninety. The ultimate goal is to help the individual become stable and efficient on their own. Funding comes in the form of grants through Alaska Mental Health Trust as well as Mat-Su Health Foundation.
Barbara Mongar is the Coalition Coordinator, working closely with partner agencies as a 10-member Steering Team that meets at least
monthly. The organizations that make up the Steering Committee are: True North Recovery, Goose Creek Correctional Facility, Palmer Probation Office, Alaska Veterans Assistance, MatSu Job Center, Access Alaska, Mat-Su Housing & Homelessness Coalition, Knik Tribe, Mat-Su Health Services, and Set Free Alaska. Other organizations that are part of the coalition include: Alaska Legal Services, Mat-Su Public Health Services, AK Dept. of Corrections, Connect Mat-Su, Victim Advocacy, AK Div. of Vocational Rehabilitation, Chickaloon Tribe, and Alaska Family Services. They are currently planning the annual Reentry Summit that provides free training for anyone interested in learning more about the reentry program. At the Summit, ‘Building Bridges to Success’, several knowledgeable speakers will impart valuable information that can help with the reentry process, such as employment, housing, mental health and more. This year’s Reentry Summit is funded by the Mat-Su Health Foundation and will be held at the Menard Center in Wasilla from 9:00am to 3:30pm on September 5 & 6. The public is invited to this free event and lunch is included! Registration information will be forthcoming and seating is limited. For more information on the Summit, contact Mongar at 907-414-4077 or barbara. mongar@valleycharities.org
Cindy Yeager is a Case Manager for the MatSu Reentry Program, along with Brian Galloway. Galloway executes the State of Alaska (SOA) reentry program while Yeager is Coordinator and
Case Manager for the Second Chance Program and works closely with fellow Second Chance Case Manager, April Cheek. Yeager makes contact with potential candidates looking for services after release from prison, verifies their eligibility, and gets them set up through a phone conversation that helps establish their specific needs and release plans. Yeager can assist with the services they may need to connect with, such as transitional living, job placement resources, or a driver’s license. The program will not cover the cost of things such as tuition, attorney fees, fines, restitution or taxes, however anything that will assist the client’s stability in reentry through connection to the right agency or resource can be accomplished. In the 4 years Yeager has been involved with this program, it has grown exponentially. The true scope of the program is to help promote integration into the community and for individuals to be successful in their own right, which looks different for everyone, and to not be dependent on public assistance or substance use.
The Reentry Program often sees a spike in reentrance and need in the fall as temperatures start to drop, and conversely a large number of prison releases tends to happen in the spring.
Approximately 500 reentrants are released each year from 4 facilities in the area: Goose Creek Correctional Center, Palmer Correctional Center, Pt. MacKenzie Correctional Farm, and MatSu Pretrial. The recidivism rate for Alaska right now is 60%. This means that of the 5,000 or so incarcerated persons across the State of Alaska,
60% will return to prison within 3 years. However, when offenders receive the help they need through a reentry program, that rate drops significantly. Lower recidivism rates equate to less crime and a safer community. Mental health and substance use issues often go hand-in-hand in many cases and can lead to criminal charges.
Valley Charities’ 2 case management programs, Second Chance and Community-Base to Reentry, both run for 6 months. The 4-person team of Mongar, Galloway, Yeager, and Cheek runs the Reentry Program for the entire Mat-Su Borough, an area the size of West Virginia. Both Mongar and Yeager point to their many partnerships in the Valley as their biggest strength. The coalition agencies all work together to provide, or find, the resources needed to help a reentrant find a pathway to success.
Valley Charities, Inc. is a 501(c)(3) nonprofit organization providing life-changing programs and opportunities to Valley residents. VCI has been quietly serving the Mat-Su Borough for over 60 years. Through their Housing Assistance Partnership Program, Mat-Su Reentry Program, Medical Equipment Lending Program, and turn-A-leaf Thrift Store, alongside many strong community partnerships, VCI serves the needs of Valley residents and helps them thrive. These compassionate programs encompass and fulfill VCI’s vision to make the Mat-Su Valley a healthier and happier place to reside for everyone. For more information, visit www.valleycharities.org or call 907-376-5740.
Somewhere, hidden in this publication is a picture of a $100 bill. All you need to do is find the picture of the $100 Dollar Bill and tell us the ad and page number you found it on, along with your name, address and phone number.
(If you don’t give us your address and phone number we can’t send you the money!)
– Please include your email address –
We will then have a random drawing from your submissions on July 24, 2024 to pick ONE WINNER Mail or bring all submissions to: GreatLander Publications 3110 Spenard Road Anchorage, AK 99503 H
ome & G arden
Summertime: ready or not, it’s here!
For many of us is the sense that something is here. What might it be? Hmm,
A. Hail storm
B. Tax refund
C. Summer
D. Ice cream truck
With our Alaskan days being longer, and many warm, sunny days last month, you guessed it, C. Summer is here.
“This season evokes different images and feelings for each of us” states Pam Nicholson, MSW, Certified Parenting Educator. Some of us look forward to the warmer weather and change in schedules. Others may wish we could skip right to September. Our culture tells us that summer “should” include:
Your summer may contain other elements as well, or be a mix of both. Let’s look at ways to enjoy our family this summer.
Time Together as a family. Whether it is a weekend picnic at a nearby park or a week-long family vacation, time away from everyday stresses of home and work can be used as valuable time to unite your family.
Feeling connected to something beyond themselves lets children know they belong. It is one of the conditions necessary for a child to develop a positive sense of self-esteem.
Family Meetings can provide opportunities for input from all family members when planning events. Children feel valued and included when we hear and give consideration to their desires.
WARNING: Children often resist compromise! Acknowledge disappointment. If one child’s ideas tend to be vetoed consistently, work to incorporate at least some parts of his idea into the final plan. Then focus on the benefits of whatever decision is reached; this can help keep the process from becoming too chaotic or competitive.
the long days of summer.
But the daily reality of summer may look more like:
WARNING: Play can become contagious!!
WARNING: A healthy family is one that is able to laugh with one another and not at one another. Become aware of the difference between fun and positive laughter verses ridicule or sarcasm that can be hurtful. Unless all parties find the joking to be funny, the comments may have crossed the line into the hurtful.
Watch for Stress. Be alert for symptoms of stress in your family. As summer unfolds, observe behavior. Are family members feeling harried, short tempered, distracted, tense? Are your earlier expectations about summer not meshing with the day- to- day reality? Step back and ask yourself, “What’s happening here and how can we get ourselves under control?”
WARNING: It can take time for some children and adults to adapt to a change in patterns or a lack of routine.
A Parting Thought. There is no one “right recipe” for summer. Despite what the culture or media may “decide” for us, each of us as parents and as a family need to figure out what works best for us.
Play! Recognize the need to play! As adults, we forget that we can and should still play, especially with our children. The longer days of summer almost beg us to get outdoors and be together. Even if you are not the type to ride a bike or play ball with your children, challenge yourself to find a way to “let go” and “go play!” Resources and ideas are available in local bookstores, online, or better yet, from your kids!!
Laugh! Many times, we can lighten up a situation with humor when we are tempted to “lose it.” A positive sense of humor helps us to keep things in perspective and works as an antidote to the drudgery, feeling of endlessness, and conflict that can arise during
Whether your summer is highlighted with moments of togetherness, fun, and renewal, and/or dotted with moments of frustration, boredom, and stress, give yourself credit for your efforts toward making summer the best it can be for your family. https://centerforparentingeducation.org/library-of-articles/ places-to-go/summertime-ready-or-not-here-it-comes/
The University of Alaska is an affirmative action/equal opportunity employer and educational institution and prohibits illegal discrimination against any individual: www.alaska.edu/nondiscrimination
Submitted by Julie Cascio, UAF-CES, Mat-Su/Copper River Valley District
Ages 4-6
Charlie Gilliand Age 5
Ages 10-12
Elsie Olson Age 12
Ages 7-9
Wallie Rafferty Age 9
Jumbo Freezer Filler
