August 2023 Mat Su Real Estate Guide

Welcome to your dream Alaskan log home. This stunning property offers the perfect combination of rustic charm and modern comfort. With 3 spacious beds and 2 baths in the main home, a quaint and cozy one bed one bath in law apt with full kitchen and laundry. Right in the heart of Eagle River with biking, shopping and schools close by! MLS# 23-8835

Luxurious amenities and elegant finishes throughout. Chef’s kitchen has double ovens, butlers pantry, 2 fridge/ freezers, and 2 dishwashers, making it a dream for any culinary enthusiast. The backyard is an oasis featuring a lovely gazebo, pond and hot tub. The house also features 2 master suites. MLS# 23-6492

Hey Cora, Everyone tells me that I am not prepared to buy a house. How do I know when I am ready? Is it just an age thing?

Signed, Grasshopper

Dear Grasshopper, no it’s not an age thing. It has nothing to do with chronological age, everything to do with financial maturity, being physically capable and ready for the responsibility! I have a list of things that will help you determine if you are financially ready to purchase a home. Owning a home is kinda like getting a puppy. Oh they are so cute and fuzzy and cuddly how could this ever be hard or annoying? Well, puppies are a lot of work, they need to be trained and worked with and fed and kept warm. Just like puppies, homes need to be loved, and taken care of so they don’t become annoying!

First off, financial responsibility.

1) Do you have enough money for a down payment? Usually at least 3.5% of the purchase price if you use an FHA loan. So, a $300,000 house - $10,500 in savings. Then you need closing costs, usually 2.5% of the cost of the home so another $7,500 so a total of $18,000 just to close on the loan.

2) Can I make the monthly payment?

Calculate what you pay for rent currently. Are you comfortable with that amount? Is it hard to make ends meet? If so, you need your home payment to be less than you are currently paying for rent. Remember, when doing this calculation, you can use all kinds of amortization schedules, but you must include, property taxes, insurance, and mortgage insurance (if you are using any kind of loan where you are putting less than 20% downpayment) So using our $300,000 scenario, take 300,000 less the down payment of $10,500 = $289,500 – this is the amount you will be financing. At 7% interest, your principal and interest will be $1995.91 per month. Then add your taxes. If they are $2500 per year, divide by 12 = 208.33 per month and then your insurance, which will most likely be around $65 per month or a little less. Add an additional $180 (approx.) for mortgage insurance and here is what your payment will be: $2,449.24. now you might be thinking, hey what about that $7,500 that I just gave the lender for closing costs? Well, that’s just the cost of the loan. Not only are you paying interest each month, but also the initial cost of

just getting the loan is about 2.5% of the loan amount.

3) Can I pay my utilities? Yes, yes, you will most likely have internet, electricity, gas heat, water bill (if you don’t have a well) trash fees and perhaps even monthly homeowners association fees. Add another $250 minimum for these things. It can be much higher depending on if you want cable or dish TV, all the other add ons so be careful here.

4) Can I meet the needs of my house? It sounds strange, but your house needs you! Snow removal, replacing roof shingles after a windstorm, checking to make sure there isn’t water in the crawl space, changing the furnace filters, repainting the exterior when needed, winter maintenance and summer maintenance. Can you physically do these jobs? Do you need to hire someone to do them? If you need to hire someone, factor that into the expense for having a home. I would say snow removal and lawn care will be your most consistent maintenance items. So if you don’t have a snow shovel or lawnmower, it’s in your future!

Okay, so we have talked about some of the additional costs for owning a home, now let’s talk about the financial benefits of owning a home. It’s a little thing called EQUITY! This 6 letter word can be a very good friend! Very good! When you own your home and you are making your payments, that balance that you owe the bank goes down a little bit each month – then equity kicks in. As home values rise, equity is the result. If you purchase your home in 2023 for $300,000 and the values increase by 5% the first year, this would make your home worth $315,000 in 2024. If your home goes up in value by 2.5% for the next four years, in 2028 your home will be worth $356,390 – it’s compounding equity, and it’s a beautiful thing. This is why investing in real estate is a good thing. Yes, you need to mow the lawn, yes you need to change the furnace filters, but for $56,000 it might be worth it! Rent is something you must pay – unless you want to live in your parents basement for the next portion of your life, yeah, I didn’t think so. Save your money... be prepared to be a homeowner, you won’t be sorry and you will thank me when you see that wonderful compounding equity. You may even want to buy me a cup of coffee! Of course, call your favorite realtor to help you make it all happen! Remember, experience matters and I am LOADED with it (because I am old!)

Built in 1942 with detached 2 car garage

Russell Joyce

Russell Joyce & Associates

Re/Max Dynamic of the Valley 907-232-4895

Russell@RussellJoyce.com

SOUTH NANCY LAKE YEAR-ROUND LIVING VACANT LAND

This custom built home only 30 min. from downtown

Wasilla includes 2 primary en-suites one with handicap access including roll-in shower, a gorgeous kitchen, upgraded finishes throughout & all on 10 UNRESTRICTED level acres! PLUS a detached 30’ x 16’ studio easily converted to an ADU/MIL & a detached 1,260 sq. ft. garage with carport for plenty of storage. This home has many features.

$747,500 • MLS# 23-6455

Buying this beautiful home is an opportunity not to be missed!

The wood trim inside gives it a

a cabin feel, yet it’s comfortable for year around living. Large guest suite with private access is perfect for hosting guests. Circular drive provides ample parking for everyone plus an RV. New landscaping, large deck, new kitchen counters, flooring, extended garage & storage sheds!

$375,000 • MLS# 23-4540

Build your hanger home on this FAA Cert Airport Park (FAA 65AK) located outside city limits. Bypass congestion w/ easy access to Anchorage. Close to shopping, schools & rec trails. HOA fees planned to stay very low at only $28/mo. Electric is on site, gas adjacent. Build your home on the bluff side w/ awesome views. 2nd access from E Kirby is ideal for your hanger! Landing strip is 2700 x 75 Ft.

$150,000 • MLS# 22-10108

$620,000 MLS# 23-7403

OFFICE: 907 631 3033

WWW.SIGNATUREALASKA.COM

1174 N LEATHERLEAF LOOP A, WASILLA, AK 99654

$674,900 MLS# 23-6999

Location, location, location. This 2750 sq ft 4 bedroom, 3 full baths, 3 car garage has it all. Even an office on the main level which you could use for a guest room, or keep it an office. Formal dining area. Marble fireplace, hickory cabinets, TWO refrigerators in the kitchen, walk in pantry, mud room, landscaping, large deck, shed. Just bring the moving truck. No HOA. Renee Burney 907.414.2944

23-8652

Step inside and be greeted by an ambiance that seamlessly blends modern sophistication with timeless elegance. The open and spacious layout offers an abundance of room for both relaxation and entertainment, making it the ideal sanctuary for those who appreciate generous living areas. Kaitlin Hotchkiss 907.521.5241

23-8856

Beautiful better than new construction home in the heart of downtown Palmer. This home is turn key but has all the appeal of new construction. With LVP flooring, granite counters throughout, tile backsplash and an eat-in kitchen, this cute home is ready for you to occupy! Sarah Palenske 907.315.7630

Luxury in Alaska! This is the ultimate home for grand living. An absolute immaculate kitchen, bright color scheme, walk in pantry with a sink. A living room with a fire place, creating warm ambiance and huge windows for great natural light & views, this home is perfect for elegant entertaining. A back veranda featuring epic views of the Chugach Mountains. Cheyenne Gilman 907.355.5308

1750 S BAY VIEW DR • WASILLA

8970 E ALPINE VIEW DR • PALMER

6819 S LARK CIR • WASILLA $619,000 MLS#

540 E CARIBOU AVE • PALMER $329,000 MLS#

$219,900 MLS# 23-6474

OFFICE: 907 631 3033

1174 N LEATHERLEAF LOOP A, WASILLA, AK 99654

$395,000 MLS# 23-6906

!! Motivated Seller!! Wonderful Willow home situated in the Sunnybrook Subdivision on 1.22 acres, minutes from, town, schools, and a ton of recreational activities/areas including the Deshka landing! Use it as your main home or getaway cabin. Fish, hunt, four wheeler, snowmachine, or relax and watch seasonal wildlife on the back deck. 1536sq ft, 2 bed 1 bath.

Cheyenne Gilman 907.355.5308

$635,000 MLS# 23-3337

Looking for a home close to shopping, schools, restaurants, grocery stores, and live music at the Alehouse, we have the place for you! This spacious 2300 sqft 4 bed 3 bath home is in an excellent location right here in Palmer. Sit on the back deck and take in the mountain views, or enjoy the large backyard and benefit from your very own greenhouse. Bring the pets too, the yard is partially fenced. Cole Whitaker 907.671.6786

$550,000 MLS# 23-9173

Beautiful custom home, family with tile wrapped fireplace. Quartz fireplace. Upgraded kitchen with large pantry & tiled back splash. Master bedroom w/lg. WIC. Tiled master bath, jet tub, x-large upstairs laundry room, formal dining with french doors, could be used as office. Covered front porch. Rear deck. Maddie Fuller 907.315.9650 / Devon Doran 907.354.2685

Do not miss this beautiful home located in the heart of Hiland Mountain that comes with a 2BR mother-in-law apartment. Main home features a unique and thoughtful design that captures the surrounding beauty. Well equipped kitchen provides ideal space and solid surface countertops. Mother-in-Law apartment is above the generously sized garage and provides privacy for guests or rental opportunity. Devon Doran 907.354.2685

14357 STORMYBROOK CIR • WILLOW

5525 HILAND RD • EAGLE RIVER

960 S ELLEN ST • PALMER

1141 W BLUFF VIEW DR • WASILLA

75 acres. Airstrip, cabin, well septic. Mostly level, some sloping on the eastside, creek running through. Detached garage of no value, electric, septic. Legal driveway easement to the property. This can be commercial property. Developable property. $629,000 • MLS# 23-6495

60% of the average homeowner’s wealth comes from their home’s equity.

You might be wondering if buying a home right now is a smart fi nancial decision. The fact is, homeownership is key to building long-term wealth, no matter when someone buys. Studies show that, over time, most homeowners will steadily build equity. For example, during the past three decades, home values have increased an average of more than 6.0% per year.* Of course, owning a home is much more than a way to gain a fi nancial edge, it’s also where you raise a family and create life-long memories. Work with a REALTOR,® a member of the National Association of REALTORS®, they can show you options in your area that best fi t your situation. To learn more, visit HousingMarketFacts.com.

Nice waterfront cabin with commercial possibilities. Property is currently rented. There is also an electric car charging station that creates additional income. Has highway frontage. Lake has trout and grayling, minutes from Denali Park.

Nice ranch style home with that off grid feel. There is another cabin that needs work, could use as Airbnb when fixed up. Lots of possibilities. No property taxes.

Seller is motivated. Nice livable fixer upper close to trails in the Big Lake recreational area. House needs some finishing touches but is in good, clean condition. Has a nice large lot. Being sold as is.

Private and secluded retreat in the woods. Features off grid living, solar power, well, sauna, over sized building pad to add another cabin or home, and a tree house. Included are tools to build or maintain and generator. 220 power to the property as well!

1 bedroom cabin on Beaver Lake. Property features dock and big deck for summer BBQs, nice large garage for toy storage. Beautiful sunsets and views of Sleeping Lady! Seller will owner finance with 180K down and approved credit.

Nice spacious home with dry guest cabin for weekend guests. Property features over sized garage for all your toys, landscaped yard and RV parking. Located in the heat of Big Lake recreational area.

Nice

CANTWELL MLS #23-8165 • $260,000

MLS #23-8569 • $175,000 MLS #23-8026 • $149,000

MLS #23-8022 • $180,000 MLS #23-5860 • $365,000 MLS #23-6394 • $330,000