May 2023 Mat Su Great Lander Real Estate Guide

28629 W PARKS HIGHWAY • MLS#22-10781

Stunning lake front retreat, a true Alaskan homestead! Huge garage, carport, detached garage, bunk house, boat house, gardens with greenhouse, extended decking, paved driveway with extended areas to park toys. Beautiful lakefront sitting area and lake entrance with sandy bottom. Windows galore to enjoy your views! Loons to wake you up each morning! This retreat offers so much, don’t miss it today!

907-302-6262

$779,900

Fabulous mixed-use building with 5,700 sq. ft. of warehouse space with 3 large overhead doors, office space and bathrooms. Also included is a 1,500 sq. ft. 3 bed/2bath plus office (could be 4th bedroom) apartment. So many potential uses in a great location! MLS# 22-4766

$824,900

Custom upgraded home w/ unbelievable VIEWS!! Large 2,977 sq. ft. plan w/ 5 beds and 2 master suites. Large open entry, living and kitchen. Expansive decking, blinds, landscaping complete, gutters installed, cement hottub pad in place. HUGE 4 car garage! MLS# 23-3405

$1,375,000

Gorgeous Alaskan establishment w/ family friendly restaurant. Summer tent area to extend outdoor seating. 20 room motel w/ nightly and monthly rentals. Solid income coming in, fabulous location just off the Parks Highway with plenty of visibility. MLS# 23-2125

567 DENALI ST., WASILLA

S DANDELION CIR., WASILLA

E GATEWAY DR., PALMER

Ask Cora

Hey Cora, I want to buy a condo but there are things that I will want to do with it, like remodel. What exactly are the limitations on that. Signed Condo Maximum!

Dear Max, Let’s see, where to start... so many things... so little time. Okay, let’s start with the “type” of condo you are buying. There are townhomes, condominiums and site condos. These are all different and their legal descriptions are different.

Townhome – usually means that you own the ground that it sits on. Not a lot, just the perimeter of the foundation and nothing else.

Condominium - means the ground that it sits on is “common element” that means everyone in the condo association owns it. So your crawl space is actually owned by everyone! This is why many of them don’t allow you to store things in your crawl space.

Site Condo – means you own the “air around the building”. Which sounds strange, but it does keep the dues per month down.

Okay now that we have established that, this is when you choose what type you want. So if you go with just a standard condominium, we have other things to discuss.

1) What do the dues cover. Usually, and I know I am going to use that term a lot in this article, because they are all written differently, so usually, the dues cover, water, sewer, trash, snow plowing, lawn care, insurance (structure only, not interior) and reserves for re-roofing, re-paving, re-painting etc.

2) Are there proper funds in the reserve account. The reserve account is critical. If this is not managed properly, it will create a huge problem for everyone of the owners. Years ago, some of the older associations had managers that actually embezzled from these reserve accounts and left the owners with nothing to make repairs. These reserve funds are also essential for being able to sell condominiums with government backed loans like FHA, VA and Conventional. These programs require that reserves meet or exceed the estimated replacements costs. As a buyer, you will receive a document that explains all the costs, where everything has gone, what is in savings (reserve) and how long it’s estimated life of each item will be before replacement.

3) What is the Owners to Tenant ratio? You may think this should have nothing to do with owning a condo, but it does. Those same loan programs, FHA, VA, Conventional and even Alaska Housing, have requirements for how many tenants are in the building. Some require 51% others 80% owner occupancy. But the management company that oversees the condo dues, insurance and maintenance, must also keep track of who is living there, owner or ten-

ant. There is a document required by lenders that asks several questions of the management company about the percentage of ownership. If these numbers are off, a buyer cannot get financing. There is a list of condo associations on a web site that shows which associations are in compliance and which are not. Yes, it’s that serious.

4) Do all units use the same Heating System. Some condominium associations have one heating system for the entire building. In this case, the natural gas bill is included in the dues. This also means that the heating system is covered in the reserve account to be replaced and to have regular maintenance performed. This can be good for people who are on a fixed income, because their bills should remain the same for them and major components are covered in the dues, like roofs, sewer systems, heating systems.

There are a few other things to take into consideration as well. You will read about these terms in the public offering statement that you will receive for your review that has all the financial information as well as rules etc.

1) Common Element: This is parts of the association that is owned by everyone. So, let’s use the parking lot for example, would be a common element. If there is a central laundry room, that too is common element. Hallways, shared garages, exterior walkways, all common elements.

2) Limited Common Element: These are areas that are limited to the unit owners personal use. Say a small area outside, like a back yard, this would be limited common area, or maybe a garage stall with a small storage area, again limited common area. You can store your things in your storage area and it’s limited to your use only. The public offering statement will spell out these areas for you.

So, let’s talk about what you can do. Usually, there’s that word again, you can do what you want inside, it’s referred to as “paint to paint”. You can change out cabinets, carpet, appliances, repaint. Moving walls may not be an option depending on the structure. If the units are side by side, it’s probably okay to move non structural walls, if they are “apartment” style, probably not okay.

Another thing to keep in mind when remodeling a condo is plumbing leaks, you may cause damage to another unit. There is also risk of disturbing the firewalls that separate the units. Your plans would have to be reviewed by the condominium board for approval and if you are in the Municipality of Anchorage, you may need a building permit.

In other works, yes, depending on what you want to do, get approval and go for it. When you are ready to purchase that condo, give me a call, I would love to help you find just the right place.

MAGNIFICENT HOME PREVIEW OF HOMES

SEE THIS BEAUTIFUL HOME MAY 6TH & 7TH. STOP BY AND ENTER TO WIN A PRIZE 10AM-5PM.

Ready for showings, large back yard, 3 car garage, LVP flooring, quartz counters, HALO light fixtures, stainless steel appliances and more. Lots of natural light. Great location! This home could be yours!

$550,000

AK MLS# 23-2355

BAR AND HOTEL

This bar has a family-friendly atmosphere. This is an amazing price, considering a liquor license alone could cost as much 235K. Amazing kitchen appliances. Some of the best food in the valley.

$650,000

HOME WITH A VIEW

kitchen, full BA, one BR and large walk-in closet.

$125,000

MLS# 23-3941

RANCH DUPLEX

MLS# 23-3938

AK MLS# 23-2518

$2,300,000

MLS#

CREEK FRONTAGE

ILIAMNA, 130.82 ACRES

HOUSTON, 11.88 ACRES

Great multifaceted investment property with river frontage. Many possibilities for income. This lot has a large gravel pad and is fenced on three sides. Bring your fishing poles for the plentiful salmon and trout!

$275,000

MLS# 23-3306

WASILLA, 1.56 ACRES

A fishermans and hunters dream. Conveyed by the U.S. to remove Native restrictions for purchase. Large platt includes, 4 salmon ponds, tons of bear and other wildlife on beautifully breathtaking land.

$2,900,000

AK MLS# 23-466

WILLOW,

ACRES

This lot has 3,540 feet of the Little Su River frontage. With 2 areas of higher elevation for building. Great location for recreational cabin or get permit for canoe, kayak, rafting or floating business. 2-3 miles to post office, gas stations.

$189,000

AK MLS# 22-14679

WILLOW, 6.29 ACRES

new construction. Lot(s) boast terrific natural building material, easy access and utilities in the area.

$58,000

Enjoy spectacular views as you sit and observe the raw beauty of an Alaskan sunset. Adjacent lot also available. Purchase both for the perfect building site. Circular driveway already on this cleared lot.

$100,000

AK

$70,000

Jack White Real Estate Mat Su 865 N. Seward Meridian Pkwy., #200 Wasilla, AK 99654

Lot with driveway, lean-to with wood stove, and nice 2-year-old camper. That camper includes slide out dining area, gas stove, microwave, fridge, double bed, and bath w/ shower. Come take a look! $35,000

The largest parcel of land with lake frontage on Big Lake. Includes dock, rock retaining wall, cleared land beautiful lawn, and road access. Electric and a well is already on site. You don’t want to miss this one!

MLS# 22-15787

23-582

WILLOW, 1.2 ACRES

WASILLA, 10.91 ACRES

Looking for River access? Creek frontage plus water channel to Susitna River. Directly adjacent to boat launch and picnic area. Plus tons of trails all around. Electric, Well, and Septic on Property.

MLS# 23-2516

WILLOW, 1.15 ACRES

This Susitna river front 20.69 acre property has approx. 998 feet of river frontage. No covenant or conditions. Possibilities are endless. Heavy treed lot. Great property. $200,000

These 4 lots are Parks frontage approx. at mile 81. Subdivided and ready for recreational use or

AK MLS# 23-3838

AK MLS# 22-776

MLS# 23-1571

20.69

LOAN LIMITS 2023

The Federal Housing Finance Agency (FHFA) announced an increase in conforming loan limits for Fannie Mae and Freddie Mac, effective January 1, 2023. These increases could provide more buying power to borrowers across the nation. The graphic example to the right is in reference to Alaska Conforming loan limits.

WASILLA

MLS # 23-3220 • $120,000

GLENNALLEN

CHITINA

MLS #22-5670 • $175,000

Finish your way! This log home features awesome views of the mountains, river, Trout Lake, and of downtown Chitina! Home has a DEC approved well and septic, for a possible 3 bedroom, 2 bath house. Has a full usable basement.

WASILLA

PRICE REDUCED!

MLS #23-1937• $235,000

Live the Alaskan dream of owning your own house and business and enjoy an abundance of wildlife, picking wild blueberries or fishing on Medeltna Creek! This property has endless possibilities! Also a commercial gift shop is included with the sale. Inventory can be bought separately for below wholesale price of $39,000. Gift shop listing 23-1934.

MLS # 22-13400 • $1,200,000

Beautiful custom home with private runway on 39.63 acres! Features new stainless appliances, custom redwood countertops, outdoor sauna house, dog kennels, kennel work shop, shooting range, several ponds. Space for gardens. Seller will owner finance other 2 tracts of land which are 200K each, for total 84.89 acres.

Nice treed southern exposure lot, with pond frontage on bluff overlooking pond.

The Ultimate Buyer’s Guide & Seller’s Guide

by Karen E Ross,

I can say that Karen and Kelly are phenomenal and are definitely the right choice. The pictures and video that they took were outstanding. Throughout the entire process they were readily available for my questions.

Our realtor Karen Ross went above and beyond in so many ways for us. She literally acted like a family member that was In OUR corner and had our best interests in mind. She is exceptional and worked so hard for us.

Karen Ross did a wonderful job. She provided expert advice; We tapped into her wealth of knowledge on more than once. I’d strongly recommend using Karen to anyone.

Karen Ross with her Professional Real Estate experience delivered. Karen Ross should be made the new Golden Standard.

- Mina Craig

Karen Ross is an exceptional agent, very knowledgeable, and goes above and beyond expectations.

Kelly Caraway & Karen Ross, your local Alaskan Realtors®, have lived in Alaska for over 30 years, and are both married with grown children. They also each have backgrounds as real estate investors and property managers. Karen also has experience as a real property appraiser.

“Quality, Not Quantity!”

inc Jack White Real Estate, MatSu

-Sharon Schaefer

-Daniel Marta

-Sharon Johnson

- Ervin McDonald