Home and Real Estate Guide - January 2018

A PUBLICATION OF THE CAPITAL CITY WEEKLY

SOUTHEAST ALASKA

JANUARY 2018

ON THE COVER

305 HIGHLAND DRIVE, JUNEAU, OFFERED BY KAREN WRIGHT OF SOUTHEAST ALASKA REAL ESTATE

TABLE OF CONTENTS On The Cover: Photo by Michael Penn | Juneau Empire 2 AlaskaUSA Mortgage 3 Coldwell Banker: Gwen Place 4 Ricker Real Estate Consulting AlaskaUSA Mortgage: Minerva Carandang Platinum Real Estate 5 Ask a Broker 7 Southeast Alaska Real Estate: Jocelyn Miles

By The Numbers 9 Exit Realty of Juneau 11 First Bank Mortgage 12 Try this on the Grill 14 Cornerstone Homelending 16 Southeast Alaska Real Estate: Karen Wright

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ASK A BROKER _

By Peter G. Miller

QUESTION:

We have been looking at smaller properties now that we are empty nesters. Our choices include individual houses and condo units. The condo units have more features such as a pool and small gym while you can get a bigger house for the same dollars. However, when we checked with our lender the rates for a house and a condo were different. Since money is money, why should we pay more for condo financing?

ANSWER:

When it comes to individual properties, they are not all the same. Some properties simply represent more risk to lenders and for that reason justify a higher interest rate.

In this case we have a single-family home and a condo. The house sits on its own ground and is owned “fee simple.”

One way to look at fee simple is to say it offers the largest “bundle of rights” to owners.

A condo is different, the bundle of rights is smaller. With a condo you own the unit and have access to common areas. If a number of unit owners don’t pay their monthly fees, that could reduce the value of your unit if the pool must be closed or the health center shuttered. To lenders this looks like the value of your property can be impacted by the actions – or non-actions – of other unit owners.

While the mortgage is with you and secured by the unit, the value of the condo is less clear because the lender has no way to check the credit of other unit owners.

Lenders are often leery with other forms of property.

With a co-op you own shares in a corporation and have the exclusive right to use your unit and a non-exclusive right to use common areas. What you don’t own is your property outright.

An investment means more risk simply because it’s not your prime residence.

If your finances sag, you’re likely to pay the mortgage on your home before you

pay the investment lender.

Jumbo loans are often cheaper than conforming loans because lenders do not have to pay assorted fees to Fannie Mae and Freddie Mac because they do not handle larger mortgages.

If you have a property with unique architecture that too is a problem for lenders because it’s thought that fewer potential buyers will be interested, making the home hard to sell and – if things

go bad – harder to sell in a foreclosure auction.

Speak with lenders regarding their pricing policies. The odds are good that most homes will qualify for mortgages without any ups or extra charges but not always. Are differing costs a reason to choose one property over another?

Sometimes yes, sometimes no, depending on the numbers and the alternative options available for the property.

peter@ctwfeatures.com Peter G. Miller is author of “The Common-Sense Mortgage.'

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%

Percentage of total buyers that were first-time buyers over the past year.

Source: AreaVibes.com

www.capitalcityweekly.com

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BUY OLD OR BUY NEW? All things considered, the price of a new consumer product tends to outdo the cost of a used one. A 2018 vehicle, even with rebates, likely will be more expensive than a 2017 edition, even if the model hasn’t changed significantly. Just-released video games go for twice or three times the rate of an older disk – classic or no classic.

Unlike many consumer goods, houses more regularly appreciate in value – in other words, be worth more in the future then when they’re purchased. Historic factors can play a role: a home that’s 24 years or even 24 days older than a brand-new dwelling may not be worth a premium, but a residence that’s 240 years older could be valued quite a bit higher because of its longevity and even attachments to historic events and characters.

Homes, whether or not they’re collectors’ items, offer the added perk of a place to live. By comparison, antique cars are rarely the chief mode of transportation, or “daily driver.”

In the current housing market, however, none of these factors matter overall, based on a recent report.

New homes on average almost always sell at a premium over similarly sized or styled older properties.

“If you’re looking for a newly constructed home, you may be experiencing some sticker shock. New homes are desirable for many reasons – the latest amenities, less maintenance – but it can still be difficult to tell whether it’s worth the price premium,” Trulia says.

The new-home premium phenomenon has been around for at least a few years.

In December 2014, Lawrence Yun, chief economist of the National Association of Realtors, determined that “newly constructed homes are carrying a hefty premium over existing homes. The gap, which historically had been 15 to 20 percent, has in recent years widened to 30 to 40 percent. “That suggests either existing home prices are much cheaper in relation to the newly built homes and/or that there is just not enough new homes being produced,” he said.

Today the price gap in new and old homes tends to be more location-based or involves the size of the lot or home square footage, Trulia says.

Just-completed houses run in some cities from a few percentage points higher in price than existing properties to more than three times the pre-owned figure, the company notes in findings released at the end of October. The price premium nationwide averages 28 percent, with “roughly half tied to a home’s features,” the online residential real estate site notes.

Trulia’s calculations find that Detroit “leads the nation with the largest difference in price between newly built homes and older homes.” Buyers pay 222 percent, or 3.2 times, higher for a new home than an existing one. Bridgeport, Connecticut; Philadelphia; and San Francisco are next in order on the list.

By contrast, metro areas in the West and South post “among the lowest price bumps on new homes.”

Charleston, with a 6 percent spread; Tacoma, Washington, at 10 percent; and Portland, Oregon, up 14

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percent present the lowest new-home premiums compared with older housing stock, Trulia says.

According to the online site, new construction is steadily recovering from post-recession lows in the late 2000s and early 2010s. It’s up 14.1 percent year over year. The widest gap in new homes versus older properties tends to be in the Rust Belt, with Toledo and Dayton, Ohio; Pittsburgh; and Milwaukee in the top 10.

Factoring out prices, both new construction and older homes showcase offer pros and cons, says Lindsay Listanski, senior manager of media engagement for Coldwell Banker Real Estate, on the company’s Blue Matter blog earlier this year.

New construction has advantages. During construction, buyers can add much desired extras. “A garden tub is an expensive modification in existing homes; not possible in some older homes,” she says.

Low-maintenance exteriors such as vinyl-wrapped windows. You are free to spend your off hours golfing, traveling or enjoying your home with a backyard cookout. Highly efficient systems such as heating, ventila-

tion and air conditioning; windows and appliances that lower power bills.

Drawbacks include that new homes builders typically “stay firm on price,” may wind up paying less than they originally paid for the home when they sell; may have smaller than usual sized lots and lack mature landscaping; and noisy and dusty construction can go on nearby as the developer completes the subdivision.

Older homes offer pros such as: Spacious yards for children and pets.

Costs are typically 20 percent less per square foot than new construction in the same area.

Residences tend to have more character. “Part of the joy of owning them is you can upgrade them and fix them up to your own preferences.”

Cons of buying an older home include becoming “large money pits” for buyers who aren’t particularly handy at home; less energy-efficient than new homes; smaller rooms that can’t be enlarged; and generally requiring ongoing maintenance that can become costly repairs if neglected, Listanski says.

P leas e

RECYCLE ASK A BROKER _

6%

The average down payment on a new home — a number that has held firm for three straight years.

Source: National Association of Realtors

www.capitalcityweekly.com

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Percentage of all home sales in September 2017 that were by first-time homebuyers – the lowest percentage in two years.

Source: National Association of Realtors

79

Percentage of home improvement companies that expect to see an increase in business over the next 12 months.

Source: HomeAdvisor

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Juneau has made the cut for This Old House's "Best Places in the Northwest to Buy an Old House" and “14 great places where the historic houses need TLC, presenting life-affirming DIY challenges and plentiful opportunities.”

Casey-Shattuck in Juneau, Alaska: homes built 1905-40 in Craftsman style.

Selma, Alabama: fixer-upper bungalows to “massive Italianate.”

Lincolnville, St. Augustine, Florida: the nation’s oldest city, founded by Spanish explorers in 1565, includes Folk Victorian homes dating 1870-1920.

Dayton’s Bluff, St. Paul, Minnesota: a historic district with 18,000 residents showcases Queen Anne and Colonial Revival houses.

Historic residences and other homes from long ago can be picked up without breaking the bank

Buying Old, On the Cheap _

By Jim Parker

Rich preservationists, nonprofit museums and national parks hold title to swanky mansions or quaint cabins built decades and centuries ago — some valued in the millions of dollars, pledging ties to famous Americans and viewed by thousands of tourists yearly.

At the same time, obscure owners hang onto 18th and 19th century houses of wood frame or brick that may lack links to historic figures, don’t boast much value now and are viewed only by wandering neighbors or pioneering travelers.

Ancient properties, whether iconic or unknown, list on real estate sites such as CIRCA Old Houses or ThisOldHouse.com when they’re for sale.

Many hundreds of pricey homes on the market in historic districts show up on the online pages. But the real finds are inexpensive residences that, at least on the surface, claim history or architectural interest, often requiring extensive renovations but still able to be fixed up.

“I don’t believe that you have to spend a fortune to find your dream home,” says Elizabeth Finkelstein, founder of CIRCA Old Houses.

The site, kicked off in 2013, includes a popular Instagram feed @cheapoldhouses of what it calls “America’s most beautiful, salvageable historical 8

homes” for sale under $100,000.

“If you’re the type who loves a diamond in the rough, and who looks forward to rolling up your sleeves and burying yourself in a house project, then you’d be the perfect person to purchase, restore and save one of these gems,” she says.

Offering searches by price ranges and for all of the 50 states, Puerto Rico and Canada, the company has built a following among real estate professionals and homeowners. “CIRCA came about in response to my own search for my family’s dream house,” Finkelstein says. Today CIRCA Old Houses claims more than 1.5 million page views to its website monthly.

Old home shoppers can check out photos and learn about regions with a propensity of lowerpriced historic neighborhoods at, among other internet places, ThisOldHouse.com.

The site, tied to the well-known TV program, lists its current projects as the Newton (Massachusetts) Generation NEXT House, Charleston Single House, 2017 Idea House Revival of a Rhode Island beach home and the Detroit House, a 1939 Russell Woods-design restored with help from the community.

The Shaw Neighborhood, St. Louis, Missouri: rows of Second Empire, Georgian and Tudor residences “like waking up on the set of Meet Me in St. Louis.”

Near South, Lincoln, Nebraska: American Foursquare and Richardsonian Romanesque homes from 1869 to the 1920s.

Phillipsburg, New Jersey — town’s 19thand 20th-century houses include “downtown brownstones and multifamily townhouses, most with original details.”

Goldsboro, North Carolina: Queen Annes, Stick Victorians and Italianates ranging in size from 1,100 to 6,400 square feet.

Cathedral District, Bismarck, North Dakota: 20 blocks near downtown with 150 National Register homes including 1900-45 “Eclectic Era” Shingle and Prairie.

Centre Park Historic District, Reading, Pennsylvania — “Reading’s wealthy arrived in the 1870s, building country mansions mimicking Italian villas and British manors.”

Hampton Heights Historic District, Spartanburg, South Carolina: Arts and Crafts and Queen Anne styles predominate.

West Boulevard, Rapid City, South Dakota: three building periods 1875-1949 produced a mix of styles in the “Gateway to the Black Hills.”

Lewisburg, West Virginia: “Outdoor enthusiasts, artists and old-house buffs find common ground” in the mountain town, with some homes dating to the late 1700s.

Rainsford Historic District, Cheyenne, Wyoming: Victorians with quirky roofs stand out. © CTW Features

EXCERPT _ Best Places in the Northwest to Buy an Old House Casey-Shattuck neighborhood, Juneau, Alaska

Eight great neighborhoods for Queen Annes, Second Empires, Craftsmanstyle, and other historic houses in the states of the Northwest

By Keith Pandolfi, Allison Goldstein, Taryn Lonergan, and Melissa Thomas of ThisOldHouse.com

The Neighborhood Set on the Pacific and surrounded by mountains, Juneau is one pretty little city—complete with historic neighborhoods containing various architectural styles from the late 19th and early 20th centuries. The best bargains here are in Casey-Shattuck, named after the two men who developed the former farmland into Juneau's first subdivision. The neighborhood has seen renewed interest recently, as young professionals and those seeking an outdoorsy lifestyle move here to work in the city's growing tourism industry. Now that five or more cruise ships arrive here almost daily, it's not as quiet as it used to be!

The Houses Most Casey-Shattuck homes were built between 1905 and 1940 in the Craftsman style, with low-pitched gabled roofs and wide overhanging eaves.

The Prices Craftsman homes range from just under $300,000 for a two-bedroom fixer-upper to nearly $400,000 for a larger model in good shape.

Why Buy Now? Juneau offers a four-year, $20,000 "tax assessment forgiveness program" for those restoring older homes.

www.capitalcityweekly.com

Continue reading at: www.thisoldhouse.com/ideas/bestplaces-northwest-to-buy-old-house

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COMMUNITY ASSOCATIONS _

By Jim Parker

The term may be vague, but there’s more than a one in five chance your residential enclave counts as one. Moreover, its meetings may be standing-roomonly affairs. And what happens at those gatherings impacts the entire area.

These places are community associations.

According to the Foundation for Community Association Research, they also go by such names as planned communities, homeowners or property owners associations, condominium communities and housing cooperatives.

A new report from the Falls Church, Virginiabased foundation concluded that 21.3 percent of the U.S. population– 69 million people – resides in a community association. What’s significant is that the association boards often include homeowners who serve on a voluntary basis to help out their communities, the group says. It developed the findings in partnership with the Community Associations Institute, described as a leading authority on association education and governance.

The foundation yearly publishes the National and State Statistical Review for Community Association Data, a practice dating back more than 40 years.

According to the 2016 report, the institute estimates there are 345,000-347,000 community associations as of this year. Homeowners associations make up 51–55 percent, condos account for 42–45 percent and cooperatives, 3-4 percent. In 1970, the country consisted of 10,000 community associations with about 2.1 million residents, meaning the growth since then stands at 10 fold. Total housing units during the 46-year time frame soared to 26.3 million from 700,000 in 1970.

“By their inherent nature, community associations bring people together, strengthen neighborhood bonds and promote a sense of community and belonging,” says Thomas M. Skiba, the institute’s chief executive. “As we witness the steady expansion with community associations worldwide, these attributes cannot be overlooked,” he says. “Purchasing a home in a community association offers a diverse choice of services and amenities few Americans can individually afford without the shared responsibility enabled by community associations.”

Florida ranks first in community associations at 47,900, home to 9.6 million residents. California places second at 45,400 communities, then Texas with 19,900, Illinois at 18,600, North Carolina with 13,900

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and New York at 13,800 communities. South Carolina stands 16th with 6,800 community associations.

Among other report findings, home values in community associations total close to $5.5 trillion.

Homeowner assessments of $88 billion are collected each year to fund essential maintenance, the institute says.

The report sets out its top reasons for community association growth, notably: 1. Collective management’s value. In the case of community oversight, association boards are comprised of elected homeowners who voluntarily serve, the foundation notes.

2. Public services turned over to private bodies.

Many cities and towns face fiscal challenges, the foundation says, so they require community developers to assume duties that may have belonged to state and local governments such as road maintenance, trash removal and storm water management.

3. Rising rates of affordable housing. In a bid to increase homeownership in the U.S., more inexpensive properties have helped out – particularly for first-time buyers. Condominiums tend to serve as low-cost entry housing, the foundation says.

4. Improving efficiency in the housing market.

According to the foundation, community associations maintain home values, while reducing the need for government oversight and expenses by providing services and responding to local worries.

Elsewhere, the report notes a steady uptick in communities, housing units and residents since 2010.

Regions with the most associations tend to fall on the Eastern Seaboard, Great Lakes region, the West and Texas. Just seven states – Alaska, Arkansas, Mississippi, North Dakota, South Dakota, West Virginia and Wyoming –count fewer than 1,000 associations.

According to the foundation study, 6,0009,000 associations are considered “large scale,” typically meeting criteria such as a minimum 1,000 neighborhood lots and/or homes and a minimum $2 million annual budget.

All told, there are more than 2.6 million board and committee members on the 342,000 associations as of 2016, performing 80 million hours of service a year and racking up $1.93 billion of unpaid work based on the Bureau of Labor Statistics estimate of $22.55 an hour for volunteer time, the study concluded.

Visit www.foundation.caionline.org.

CROWDFUNDING A DOWN PAYMENT _

By Marilyn Kennedy Melia

Cash. We all want it, especially aspiring homebuyers trying to come up with a down payment. Oddly, however, etiquette prevents us from asking for money outright. But in recent years, websites – wedding registries and “crowd-funding” sites – enable buyers to make their request at arm’s length.

Moreover, in late 2017, one lending company has rolled out a crowd-funding pilot program that eliminates the paperwork that’s routinely required by lenders whenever borrowers use gift money for a down payment.

The typical paperwork requires a letter from donors stating that they don’t expect any payback from the homebuyer. And, documentation that the gift-giver had the funds in his savings — and didn’t borrow the money — is required.

Wedding gift cash is “handled slightly differently,” says Neil Caron of Freedom Mortgage.

Couples can expect to furnish their marriage certificate, wedding invitation and the deposit slips from the gifts, Caron says.

Now, another site, HomeFundMe, received the blessing of Fannie Mae, the agency that oversees mortgage lending. Run by CMG Financial, a nationwide mortgage lender, the site lets borrowers collect down payment money, and when borrowers are ready to apply for their mortgage, typical gift-related paperwork is eliminated.

Like other crowd-funding sites, borrowers can plead their case as to why they want a home, and donors can be strangers as well a friends or family who are alerted to the effort.

“In theory, if the story impacts enough people the entire purchase price could even be raised,” says CMG Financial CEO Chris George.

And, if borrowers also attend home buying education, CMG Financial may offer matching money on the gifts collected.

While HomeFundMe is a pilot, if loans made under this model are successful, meaning that borrowers don’t default on their mortgages, George believes more lenders will be rolling out similar programs. © CTW FEATURES

www.capitalcityweekly.com

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TRY THIS ON THE GRILL

POPULAR LATIN DISHES FROM AROUND THE WORLD People celebrate their heritages in various ways. One of the more popular ways to celebrate one’s heritage is by breaking bread with others. Recipes passed down through generations can teach people about a particular culture, even shedding light on that culture for people of different backgrounds.

People celebrate their heritages in various ways. One of the more popular ways to celebrate one’s heritage is by breaking bread with others. Recipes passed down through generations can teach people about a particular culture, even shedding light on that culture for people of different backgrounds.

Foods are important to people of all ethnicities, including those who identify as Hispanic or Latino. Latin foods are quite diverse and enjoyed by people across the globe, and no celebration of Hispanic heritage would be complete without incorporating food into the festivities.

• Arepas: Arepas are bread-like products made of ground maise dough. They’re primarily enjoyed by those from Venezuela and Columbia, but are also often served in Panama, Trinidad and Tobago and the Canary Islands. Arepas may be stuffed or served with accompaniments, such as cheese or avocado.

• Asado: Those who visit Argentina may come across asado, a term used for a particular barbecue technique. Asado mainly features flank-cut beef ribs flavored with chimichurri, cooled on a grill or over an open fire. Cured sausages, sweetbreads and poultry may also be used when cooking in the asado style.

• Bandeja paisa: This Colombian dish is comprised of a platter of different foods in generous portions. Traditional items include red beans cooked with pork, white rice, ground meat, a fried egg, plantains, and avocado.

• Ceviche: Ceviche, also called “cebiche,” is a dish of fresh, raw fish that has been slightly cured thanks to citrus juices.

The dish can be slightly bitter and spiced. Ceviche is often served as an appetizer, and it is quite popular in Peru, Ecuador and Chile.

• Churros: Churros are most often served as breakfast or a sweet snack. Churros are a fried pastry stick or a twisted pastry that may be served plain or filled with fruit or chocolate. Some churros are sprinkled with sugar.

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• Flan: Another sweet treat, flan is a dessert item. While some recognize it as a kind of tart, in many Spanish-speaking countries, it is a custard-style dessert with a caramelized top.

• Paella: A well-known Spanish dish, paella is served in many different restaurants and Latin households. Paella is rice embellished with fish, meats, saffron, and many other spices.

Seafood paella can have fish mixed with shellfish as well.

• Plátanos: These banana-like fruits are served in many areas of Central and South America. A component of different Latin dishes and relatives of the banana, plátanos tend to be starchier and not as sweet as bananas. Plátanos, or plantains, are usually fried and served as a side dish. However, they also can be mashed and included as a component of main dishes.

• Ropa vieja: This shredded beef dish gets its name from its appearance, which resembles shredded “old clothes.” The meat often is accompanied by black beans and rice.

• Tamales: Known by various names, including “tamal” or “huminta,” tamales are a traditional Mesoamerican dish.

They are made with a corn-based dough known as “masa,” which is filled with various meats, cheeses, fruits, vegetables, and others. Tamales may be steamed or boiled in a leaf wrapper or corn husk.

There are many Latin-inspired dishes, and they can be the hallmarks of celebrating the diverse Hispanic and Latino cultures that comprise major regions of the world.

Inside the Choate House, ‘the fanciest building in Alaska’ _

By James Brooks | JuneauEmpire.com

The city of Juneau has existed for 137 years.

Mark Choate expects his new house to last for 1,000.

“My idea was to build a house that will last 1,000 years,” he said during a Thursday tour given to the Empire.

After eight years and several million dollars, he may have just that. The secret passageway, elevator, wine cellar, and tower-top study are added bonuses. “This is a commitment to Juneau, a commitment to the community for longevity.

Juneau’s a place you can plan to live generations in,” he said. “For this amount of money, we could’ve built anywhere in the world, but we wanted to be here.”

Mark and Sun Hee Choate bought their home at 230 W. Eighth St. in 1991, paying about $270,000. At that time, the home was more than 75 years old. Its purple and green shag carpeting and tacky wallpaper were saturated with nicotine from an avid-smoking previous owner, and the asking price was $40,000 more than the assessed value.

The couple had been eyeing it for years and daydreaming about what it would be like to live there, across the street from the governor’s mansion.

“We were lucky; we were just able to afford it,” Mark Choate said.

Choate, a successful lawyer, became more successful in the years that followed.

“We thought for years about improving it and fixing it,” but after an abortive remodeling attempt, they instead decided to split time in Hawaii and Juneau, and travel around the world.

After they decided to return to Juneau full-time, “that’s when we started saying, we should get the project going,” Mark Choate said.

Sun Hee Choate created a scale model of what they wanted the home to look like, but rather than hand the project off to a supervising contractor, they decided to oversee things themselves.

“The problem was, both of us were perfectionists,” Sun Hee Choate said.

“We didn’t want to cut any corners,” Mark Choate added.

That meant obtaining triple-paned, mahogany-finished windows from France; bricks reclaimed from a Chicago factory; stone from Europe and a roof from a European-trained coppersmith who now works in Utah.

“That roof should last, literally, 1,000 years,” Mark Choate said.

The finished house — the Choates say the exterior is 95 percent complete — is drawing attention from outside Juneau as well.

This year, the Choate’s house was named one of the top 10 copper building projects in North America.

Erno Ovari is president of Fine Metal Roof Tech, the company that built the Choates’ roof.

“It’s certainly the fanciest building in Alaska,” he said by phone on Thursday.

Down south, a roof like the Choates’ might take two to three months to manufacture and install. In Juneau, it took more than two years because of Juneau’s inclement weather.

“The winter came and the summer came and the snow and storms came. That pretty much slowed the project down,” he said.

Other things slowed it as well. The Choates tore out their kitchen smoke hood four times before they were happy with the result. Sun Hee asked the hired carpenters to tear out and redo interior fixtures several times.

When the installed floor squeaked, the Choates tore it up, sent it to the landfill and cut stone themselves to get the look they wanted.

All of that took time and money. They started planning before 2010, construction started in earnest in May 2011, and it still isn’t fully complete.

Nevertheless, the end seems to be in sight, which is a relief for the Choates, who have been living in their incomplete home since Christmas Eve 2014, when Sun Hee decided that the only way they could say on top of the rogue project was to literally live with it.

“Every inch was work,” Mark Choate said.

When complete, the house will be the fulfillment of a lifelong dream for Choate. He grew up in a military family and was deployed twice to Germany with his father, who served in the U.S. Army.

As they arrived in the country, taking a train from Hamburg to a base near the border between East Germany and West Germany, they passed castles and other imposing structures in the night.

“I think as a 3-year-old, that caught my attention, that sense of age and longevity. I’ve always liked it since,” he said. “I always wanted a tower. … it’s part of what you get to do when you build a house or remodel it: You can just say, what would I like?”

He has the tower that he wanted, plus a hidden staircase connecting the garage and master bedroom. He has a home gym, a wine cellar and plenty of nooks and crannies for grandchildren to play and hide. He’ll soon have a bookcase with a secret door, and a spiral staircase leading to the top of the tower.

He’s heard people say that it was a waste of money, that he could have done something different if he had socked away his savings in the stock market instead of his home.

“It’s OK to have your money invested in where you live, in your space,” he said.

He envisions his home as a family institution, one that will be passed down from generation to generation.

Last month, the Choates returned to Europe, traveling to Venice and staying in a convent designed by the 16th century Italian architect Andrea Palladio.

As they walked through Palladio’s work, they couldn’t help but think of their own, back in Juneau.

“We’re looking at the interior going, ‘We did OK in Juneau.’ It’s a great building, he’s a great architect, but we did pretty well,” Choate said.

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Buyers Energized

by Utility Costs Money matters, which is why more buyers are concerned with efficiency

“We’ve found the perfect home! It has abovecode attic insulation!”

You don’t hear that phrase, or anything like it, because we focus on more eye-catching features, like new kitchen cabinets.

But research shows that buyers pay more for energy efficient homes.

One study this year by the University of Texas (UT), for instance, found that homes sold between 2008 and 2016 in Houston with an energy-efficient certification sold for six percent to eight percent more that a comparable home without the certification.

Many newer homes built after 2007 have a “LEED” certification, and some existing homes have been upgraded to achieve and “Energy Star”

designation, and there are local energy efficiency certifications.

Today, “Buyers of all ages” are interested in energy efficiency, if not for environmental reasons, for energy cost savings, says Laura Stukel, of L.W.Reedy Real Estate, Elmhurst, Ill. If a home has low utility bills, that increases affordability, making it “important information for a buyer,” says Pamela Brookstein, of non-profit Elevate Energy.

A couple of years ago, the Chicago multiple listing service (MLS), was upgraded to allow real estate agents to easily import costs directly from utility companies.

Since the 1980’s, a Chicago ordinance required buyers receive annual utility costs at closing.

new year RING IN THE

“Now many agents put the costs right into the MLS,” Stukel says. Ironically, “Even if costs are high, I’ve seen it be a positive to buyers,” she adds. “That’s because they feel more confident about affordability.”

Even when the MLS doesn’t allow for agents to import costs from utility companies, agents say it’s advantageous to mention energy-efficiency, whether it’s a certain feature, like new windows, or if a home has earned a energy certification.

“It’s usually placed in the ‘public remarks’ because this is a section [of the MLS] that is generally uploaded” to other real estate website, says Raylene Lewis, agent with Century 21, College Station, Texas. © CTW FEATURES

PA M JO H N STO N Senior Loan Officer | NMLS 1020793 Office: 907.780.4036 | Cell: 907.321.3881 pjohnston@houseloan.com www.pamjohnston.net

NANCY H U D S ON Branch Manager/Senior Loan Officer | NMLS 861429 Office: 907.780.4038 | Cell: 907.321.5588 nhudson@houseloan.com www.nancyhudson.net

IN A NEW HOME Resolve to be in your dream home in

2018! Contact our team to learn about loan programs for your needs. Whether you want to buy a home, refinance your mortgage, or invest in a second home, we can help!

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9105 Mendenhall Mall Rd., Ste. 142 | Juneau, AK 99801 WA CL-1539604 (NMLS 1539604) | Company NMLS 2258.

Not a commitment to lend. Borrower must meet qualification criteria. Equal Housing Opportunity.

internet workshops also take place in April, and another 20 safety-related classes are archived online.

Yearly, the association produces a “member safety report.”

The 2017 document surveys members on “professional or work-related situations that prompted fear, their use of self-defense weapons and safety apps and proactive safety procedures in their brokerage.” According to the NAR, the report’s mission is to gauge the extent of safety risks Realtors might face, help brokerages benchmark their efforts and determine areas of improvement.

According to last year’s report, less than half of NAR members said their office has standard procedures for agent safety, and another 28 percent responded, “I don’t know.”

The NAR says, “If your office hasn’t instituted safety procedures, start now. The time to prepare is before someone becomes a victim.”

Meanwhile, the association offers social media safety tips on a weekly basis through a “shareable visual graphic” on its official Twitter, Facebook and Instagram pages. And a new grant program assists state and local Realtor association in launching safety plans for members and encourage awareness. Go to www.NAR.realtor/safety.

At least one personal safety company is promoting its wares during real estate safety month.

Pepper spray manufacturer SABRE Security Equipment Corp. highlighted how real estate agents can stay safe, including:Have an exit excuse — if a situation doesn’t feel right, always have a way to get out;

SAFETY FOR REALTORS _

By Jim Parker

Tips, tools for real estate professionals to protect themselves on the job The real estate business tends to be a solitary profession, enough so that agents can find themselves in potentially vulnerable settings. Associates meet one-on-one with clients, in some cases for the first time, at vacant houses. The get-togethers can be after dark, in secluded parts of town or way out in the country.

In the case of agents, they fall into demographic groups generally more susceptible to attack.

Currently 63 percent of all Realtors are women, according to the National Association of Realtors (NAR). Average age is 53, although as independent contractors, agents can be fullor part-time from their 20s to 70s or higher.

The NAR observes Realtor Safety Month each September. “This is an excellent opportunity for all Realtors to reflect on the importance of staying safe on the job, while embracing a commitment to follow good safety practices throughout the year,” according to an article in Realtor magazine. “Sadly, incidents involving the personal safety of real estate professionals continue to occur every day,” the story says.

Among the steps the association takes to get out the word about safety are free webinars entitled “Do This Now” and “Stay Safe by Building Better Business Relationships.” No-charge www.capitalcityweekly.com

CREATE A CHECK-IN PLAN — alert family and co-workers when heading to open houses or meeting with clients, and set up a code word for when you need help; MAINTAIN YOUR PRIVACY — never use your home address or number on business cards or paperwork and keep your social media client-free; KNOW YOUR WAY — practice your route so you’re confident and can’t be taken advantage of on the road; and PROTECT YOURSELF — the smartest thing to do is take your personal safety into your own hands.

The St. Louis-based company touts its self-defense products for real estate agents. “From driving in cars with strangers to waiting alone at open houses, Realtors deal with a unique set of personal safety problems while on the job,” the business says.

“In addition to having the right tools, we also try to give our clients the right knowledge to stay safe,” says David Nance, company chief executive. “We believe you should always be proactive,” he notes, adding that the venture offers a number of “highly effective and equally discreet self-defense options they can easily be put to use in any situation.”

Visit www.sabrered.com/real-estate-agent-safety-tips.

15

A New Home for the New Year JUNEAU HOMES

HAINES BUSINESS OPPORTUNITY Eagle’s Nest Motel

This fully operating, turn-key motel would be an excellent investment for an owner operator. There are 8 self-contained rooms, plus 5 apartments. Comes with new fuel efficient pellet boiler, all furnishings and fixtures.

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7860 Glacier Highway

3,600 sqft on .77 acres of land. Water/sewer, electricity and concrete slab floor in shop. Dirt floor in warehouse. Perfect for grow & retail location.

Come home to this light and bright home 3 Bedrooms, plus a bonus guest room with ensuite and Jacuzzi tub, 3.5 bath single family with views of airport area. Valuted ceilings that reach into the loft bedroom/ family room, and comfy and cozy living room with wood stove. The kitchen that overlooks the living area has tile backsplash, and gas stove with stainless steel appliances. The master suite boasts bay windows, and en ensuite with jet tub and loads of space. This home is perfect for enjoying the evening sunlight and entertaining with extensive decking. On the side of the home you will enjoy the storage room/ workshop, play house, and fire pit.

COMMERCIAL LAND Ta k Up ing O Ba ffe c rs k

$355,000

$200,000

Prime Downtown Juneau Lots:

Commercial/ Residential lots in Downtown Juneau across from the cruise ship dock and Taku Smokeries.

These lots are zoned mixed use commercial/ residential, and offer 208 feet on South Franklin. These 4 lots are being offered as a combined sale, together. All 4 lots, one low price. There is an accepted offer on this property, but they are accepting back up offers. Taking Back ups

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RENTALS $600 OFF 1ST MONTH WITH 12 MONTH LEASE All below rentals owned by real estate licensee in the State of Alaska.

5850 Lemon Street 2 Bedroom, 2 bath attached home in a quiet cul-de-sac has excellent sun all day. The converted garage provides a large bonus room, plus large deck, and large back yard give this home the extras you are looking for. Available Immediately.

$259,000

• 3 Bedroom, 1 Bath ground floor unit in a Valley duplex. $1500/mo available immediately.

• 2 Bedroom, 1 Bath apartment in 4-Plex in West Juneau, Heat & Hot Water included $1300/mo available immediately.

• 2 Bedroom, 1 Bath Home on Mendenhall River. Heat, electric, hot water and off street parking. $2200/mo available immediately.

Karen Wright

Call Karen Wright, REALTOR® 907-321-5866 or email KarenLRite@aol.com to request an application.

REALTOR® President, Southeast Alaska Board of REALTORS®

907-321-5866 16 1002418985.indd 1

Karenlrite@aol.com

Office: 907-789-5533

APRIL 2015 12/14/17 3:19 PM