October 2016 Southeast Alaska Home & Real Estate Guide

A PUBLICATION OF CAPITAL CITY WEEKLY | JUNEAU EMPIRE

SOUTHEAST ALASKA

OCTOBER 2016

ON THE COVER

GROUND HOG BAY OFFERED BY,

POWELL REALTY SEE AD INSIDE COVER

TABLE OF CONTENTS On the cover: Photo by Powell Realty 2 Powell Realty 3 Southeast Alaska Real Estate 4 Ricker Real Estate Consulting AlaskaUSA Mortgage: Minerva Carandang RE/MAX: JoAnn Birt 6 Residential Mortgage 8 True North Federal Credit Union 9 Southeast Alaska Real Estate: Karen Wright Valley Auto Parts 10 Coldwell Banker: Gwendolyn Place 11 State Farm: Malia Hayward 13 First Bank Mortgage 15 Exit Realty AlaskaUSA Mortgage 16 Southeast Alaska Real Estate

The Southeast Alaska Home & Real Estate Guide is a publication of Capital City Weekly and Juneau Empire, divisions of Morris Communications www.capitalcityweekly.com www.juneauempire.com 3100 Channel Drive Juneau, AK 99801 Capital City Weekly: 907-523-2250 Fax 907-789-9097 Juneau Empire: 907-586-3740

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TRY THIS ON THE GRILL HOW TO BARBECUE THE PERFECT STEAK The steakhouse is a family favorite for its flavorful cuts of beef, so to save money, the grilling experts at Broil King are here to show us how to re-create those same savoury steaks on our own gas barbecues. Here are their tips. * If it doesn't sizzle, it's not hot enough. Preheat your grill to at least 450* for great sear marks and steakhouse quality results. * Season the grill: a thin coating of oil on a hot grill both protects the grill surface and keeps your food from sticking. A refillable oil mister is an easy way to do this.

Tip: Always turn the burners to low before spraying oil; never use non-stick sprays with aerosol since they are flammable.

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* Marinate your steak for 30 minutes to 2 hours (most cuts) to infuse complementary flavours into the meat. * Any sweet or sugary barbecue sauce should be applied in the last two minutes on the grill, or after the meat is removed. These sauces burn easily and can ruin a great steak. * Try a compound butter: first soften the butter to room temperature and then mix in the flavouring of your choice, such as blue cheese, sundried tomato or cheddar & jalapeno. Top the hot steak with a pat of this butter and watch the flavour melt all over the grilled meat. * Choose your weapon: don't pierce your steak, use a good set of tongs to turn them. The more you poke holes, the more flavour and tenderness escapes. * Let it rest: cutting into a steak right off the grill lets juices escape onto the plate. Let any steak rest for 5 minutes before serving. The juices will settle evenly throughout the steak, giving a more tender, flavourful and enjoyable dining experience.

OCTOBER 2016

MORTGAGE TERMS

WHAT YOU SEE IS WHAT YOU GET

BY MARILYN KENNEDY MELIA Surprises can be delightful … but not when you’re borrowing money.

In the post-mortem of the foreclosure crisis, experts examined why many homeowners were caught off guard by terms in their mortgage contract, like a sudden hike in the interest rate.

Since late last year, new procedures dubbed “Know Before You Owe” for disclosing mortgage terms were mandated by the federal Consumer Financial Protection Bureau (CFPB).

Here, a look at how those disclosures are working, now that they’ve been in place for several months: • A first look at costs The first of two disclosures, the “Loan Estimate” is required to be given to customers within three business days their formal mortgage application.

This three page document seems straight-forward to many borrowers

who “understand that the estimate is a preliminary document,” notes Melissa Murphy, senior vice president for Attorney’s Title Fund Services, Orlando, Florida.

Listing a series of mortgage-related costs, like the interest rate, whether the rate is fixed or variable, and the estimated cash needed for closing, the figures in the Loan Estimate should be near those in the Closing Disclosure, which must arrive in

borrowers’ hands three days before the loan closings.

• A more detailed view of real charges The five-page Closing Disclosure lists fees than the estimate, including the fees seller or buyer pays, and fees from different providers, like local taxing bodies and title companies.

If a borrower needs a correction or explanation, “It requires a significant increase in communication between the lender, the settlement agent and the borrower,” Murphy says.

• E-documents speed delivery When the new disclosures went into effect, there were reports of closing delays, because of difficulties getting the disclosure in the hands of borrowers.

Now, however, Murphy and other experts say delays are less frequent.

Often, the documents are sent electronically, eliminating the need for snail mail or hand deliveries. © CTW Features

BLUE CHEESE COMPOUND BUTTER INGREDIENTS

2/3 cup butter, at room temperature 1/3 cup Roquefort cheese, crumbled 1 tablespoon shallots, finely chopped 11/2 teaspoon fresh thyme leaves, finely chopped

Dash hot pepper sauce

Pinch salt DIRECTIONS

In a small bowl, mix all ingredients together lightly with a fork until just evenly combined. Over-mixing will cause it to become too blue in colour. Spoon the mixture onto a sheet of waxed paper, and shape it into a log about 4 centimeters (11/2") in diameter. Refrigerate 1 hour.

Slice into 1.5-centimer thick rounds (1/3") and place on hot grilled steaks to melt. Freeze leftovers butter.

TRY A COMPOUND BUTTER: Compound butter is any butter that has something added to it, such as delicious herb butters or Matire d'Hotel butter.

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Additional grilling recipes and tips are available at www.broilkingbbq.com.

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OCTOBER 2016

92% Percentage of surveyed homebuyers who read mortgage documents before closing.

Source: ALTA Home Closing Survey, March 2016

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53 Median age of a real estate agent in 2015.

Source: National Association of Realtors 2016 Member Profile

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OCTOBER 2016

SELLING

Pikachu P ikachu to Sell Your Home Using

How Pokémon Go can help lure in real estate buyers

HOW POKÉMON GO CAN HELP LURE IN REAL ESTATE BUYERS

BY ERIK J. MARTIN Think that the Pokémon Go craze is over? Hardly, especially given the fact that a new version of the game was just announced for the new Apple Watch. And what’s more, the addictive app may actually help sell your home more quickly. When potential buyers come knocking, a good real estate agent will do whatever’s necessary to catch them all, even if it means enlisting an augmented reality game.

Just ask Janice Lambert Chretien, broker and branch manager for Coldwell Banker United in Spring, Texas, who’s been using Pokémon Go as a way to garner prospective purchasers to homes for sale since July.

“We catch the attention of buyers and attract them to our open houses by including where the Pokéstops and Pokémon gyms are within the directions to the property for sale,” says Chretien, who notes that it’s still too early to evaluate whether the tactic has been a winning one or not.

“It has definitely been successful in starting conversations, especially among millennials, who make up 68 percent of first-time buyers. These buyers grew up during the launch of Pokémon in 1996, and these future homeowners are playing the new age version of an old classic,” she says. “We feel that by using ‘Pokémon Go’ in our advertising, were speaking the language of these buyers and connecting with them in a way they feel comfortable.”

Chretien certainly isn’t alone. Candace Ramirez, public relations manager for Seattle-based Estately, an online real estate search site, says real estate agents are frequently using the game as a sales www.capitalcityweekly.com

hook in home listings.

In July, “we found 17 listings mentioning the game. Beneath standard descriptions of outdoor kitchens and walk-in closets, lines like ‘Pokémon have been sighted on the premises’ and ‘Nearest Pokéstop is 0.3 miles away’ are popping up,” says Ramirez. “We’ve never seen anything like this. We think agents feel that if a prospective buyer wants to see five homes, but only has time for three, he might make time to tour the home where he can catch a Pokémon.”

Andrea McDonald, senior PR manager at Trulia in San Francisco, says referencing pop culture or relevant current events in a listing can help attract more house hunters.

“By leveraging something like proximity to a Pokéstop, you might be attracting a whole new demographic that you otherwise may not have

reached,” McDonald says. “Actually, people of all ages are playing ‘Pokémon Go,’ and if they’re already out and about hunting for Pokémon, chances are they may be more inclined to visit an open house if they’re already nearby and can find a Pokémon character.”

Consider, too, the expanded reach that marketing via Pokémon Go can provide.

“Maybe mom is driving the kids around looking for Pokémon, and they come across your open house. She may not even be in the market at the time, but it’s possible she stops by and falls in love with the property,” says Chretien.

To use Pokémon Go effectively in your homeselling efforts, Chretien recommends asking your agent to become familiar with the game, reference the game in your home listing language, and place your open house directional signs at Pokéstops and drop lures.

“The lures expire after 30 minutes, so I encourage my agents to hold open houses at the same time in the same general market area, and I drive to the Pokéstops and put lures on them during the showing window. That means I sometimes spend my Sundays driving in circles for our sellers,” says Chretien. “We also put a message on our open house directional signs that say ‘Now luring Pokémon,’ and we put a Pikachu doll on the sign in the yard at the property to catch the eye.”

McDonald says sellers should capitalize on pop culture trends like Pokémon Go for as long as they’re still relevant to consumers.

“Once the trend starts to slow and fewer people are talking about it, then it’s okay to remove the reference,” says McDonald.

Chretien, however, believes this game has longevity.

“We will know more after school starts this fall – the fad will either die out or hopefully be around for a while,” she says. © CTW Features 11

FORECLOSURE RATES ARE DIPPING. HERE’S HOW OWNERS, SELLERS AND BUYERS CAN BENEFIT

FALLING FORECLOSURES

BY ERIK J. MARTIN If you’re a homeowner, home seller or even a homebuyer, housing market headlines continue to indicate favorable conditions.

But one recent news item in particular should make you sit up and take notice: foreclosure rates are dropping, and many stand to gain from this trend.

According to a recent report from ATTOM Data Solutions (parent company to RealtyTrac), foreclosure filings have decreased 20 percent in the first six months of 2016 versus six months earlier and have fallen 11 percent compared to the first half of 2015.

“Overall foreclosure activity is back below pre-recession levels in 15 states, and foreclosure starts nationwide are at the lowest level ever recorded in a six-month period in the RealtyTrac report. Together, these two metrics strongly indicate that homeowners now falling into foreclosure are the exceptions to the rule and as such have a fighting chance to avoid foreclosure,” says Daren Blomquist, senior vice president of ATTOM Data Solutions, Irvine, California. “It shows that foreclosure activity is returning to what it should be in a healthy housing market: a rare, but necessary evil.”

Blomquist says that’s good for owners because it means a disproportionately high level of foreclosures are not dragging down their home value.

“Homeowners will likely have enough home equity built up to give them a lifeline out of foreclosure, whether through refinancing or by selling the property and at least walking away with cash to show for it,” he says. “It’s also good for home sellers because it means they are less likely to be competing with lowerpriced distressed properties for sale in the neighborhood.”

The aforementioned news is even favorable for buyers in that it indicates a more stable, healthy market for them to be making an investment in, although the caveat is that it shifts the supply-demand balances in favor of sellers, Blomquist says.

Wendell de Guzman, CEO of PCI LLC, an Oak Brook, Illinois based real estate investment firm, says the report’s findings are especially advantageous to homeowners 12

because their properties should continue to appreciate next year, “and less foreclosure activity will also lead to higher sales prices, which also leads to even lesser foreclosure activity. The result of this virtuous cycle is that property values will likely go up in the next three to five years and foreclosure filings will continue to decrease over the next one to two years, I believe.”

J. Keith Baker, mortgage banking professor with North Lake College in Irving, Texas, says this latest news also raises hopes for underwater borrowers who owe more than their homes are worth.

“Those who were trapped into houses that they couldn’t sell may now be able to move to another location or trade up or down,” says Baker, who recommends asking your lender about pursuing one or more of the following limited-time options if you are underwater and/or facing foreclosure (restrictions apply for each): • HOME AFFORDABLE REFINANCE PROGRAM (HARP, due to expire on Dec. 31, 2016), a federal government mortgage refinance program designed to help underwater owners refinance to a lower interest rate • HOME AFFORDABLE MODIFICATION PROGRAM (HAMP, also expiring on Dec. 31), a federal government program created to assist owners in avoiding foreclosure • HOME AFFORDABLE UNEMPLOYMENT

PROGRAM (UP, expiring Dec. 30), intended to provide temporary forbearance for unemployed homeowners • SECOND LIEN MODIFICATION PROGRAM (2MP, expiring Dec. 30), which offers a mechanism for servicers to modify second liens when a homeowner receives a first lien modification through HAMP • HOME AFFORDABLE FORECLOSURE ALTERNATIVES PROGRAM (HAFA, expiring Dec. 30), which grants the opportunity to be relieved of your remaining mortgage debt through a short sale or a deed-inlieu of foreclosure and provides $10,000 in relocation assistance • PRINCIPAL REDUCTION ALTERNATIVE (PRA, expiring Dec. 31), which assists owners having a loan-to-value ratio exceeding 115 percent “The biggest mistake homeowners who are forced into foreclosure make is waiting too long to take action. There are government programs that can help them,” says Buddy Schilling, president of Austin, Texas-headquartered JBGoodwin REALTORS. “But you can’t wait until the last minute to seek help, and you shouldn’t try to get a lot of equity out of your home if you need to sell it before foreclosure.”

Instead, Shilling suggests, consider lowering the price as low as you can to get the home sold before you are foreclosed on. © CTW Features

OCTOBER 2016

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523-2274 50% for-sale-by-owner discount _______________________________________

CAPITAL CITY WEEKLY IS IN MORE SOUTHEAST ALASKA COMMUNITIES THAN ANY OTHER PAPER ANGOON Angoon Trading Angoon Health Center CRAIG A C Thompson House Annie Betty’s Bakery Cafe JS True Value NAPA Automotive Papa’s Pizza Shaub Ellison The Bread Box The Craig Public Library The Waffle House Tyler Rentals Whale Tale Pharmacy Zat’s Pizza DOUGLAS Breeze In Douglas Café Douglas Library ERA Helicopter Island Pub Mike Hatch Jeep SERRC (Cedar Park) Tanner Marine Service Center EDNA BAY Delivered to 27 Residents ELFIN COVE Delivered to 25 Residents GUSTAVUS Delivered to 240 Residents HAINES AK Sport Alaska Seaplanes Alaskan Liquor Alaska Marine Highway American Legion Big Foot Auto Canal Marine Captains Choice Chilkat Restaurant E & D / Radio Shack Eagles Nest Ferry Terminal Fogcutter Bar Haines Assisted Living Haines Quick Shop Haisler Hardware Halsingland Hotel

Harbor Bar Home Builders Howsers Moose Laundry Pioneer Bar Tesoro Gas The Hair Shop Visitors Center Wings of Alaska HOONAH Alaska Seaplanes Colette’s Cupboard Harbor Master Hoonah Cold Storage Hoonah Liquor Store Hoonah Medical Center Hoonah Senior Center Hoonah Trading Co. Huna Outfitters Icy Straight Lodge Misty Bar Lounge Office Bar Salvation Army Thrift Store Tideland Tackle HAWK INLET Delivered to 25 Residents HYDER Delivered to 145 Residents JUNEAU 1st Bank - 2 locations Action Appliance Airport Mall Alaska Cache Liquor Alaskan Hotel Alaska Job Service Alaska Marine Highway ANB Hall Arctic Chiropractic Asianna Gardens Aspen Hotel Auke Bay Harbor Master Bartlett Regional Hospital Bergman Hotel Best Western - 2 locations Bill Ray Center Blue Jeans Café Breakwater Hotel Breeze In - 3 locations

Bridge Adult Day Care Bullwinkle’s Pizza - 2 locations Cancer Center Care-A-Van CBJ Info Chamber of Commerce Chan’s Thai Kitchen Coldwell Banker Custom Cuts DeHart’s Denali Credit Union Don Abel Building Supplies Donna’s Restaurant Dragon Inn Driftwood Duck Creek Market El Zarape Emporium Mall Exit Realty Extended Stay Hotel Family Health & Birth Center Family Health Care Family Practice Physicians Fireweed Senior Center Foodland IGA Foreign Auto Fred Meyer Frontier Suites Gas-N-Go Gastineau Humane Society GCI - 2 locations Glacier Pediatrics GonZo Gruening Park Admin. Off. Harri Plumbing & Heating Heritage Coffee - 6 locations Home Liquor & Deli Honda Hut Hot Bite J&J Deli Jordan Creek Center Juneau Assembly Building Juneau Arts & Humanities Juneau Bowling Center Juneau Courier Service Juneau Foot & Ankle Juneau Hotel Juneau Airport - in 4 locations Juneau Library

Juneau Pizza Juneau Senior Center Juneau Urgent Care K-Plaza Canton House Kenny’s Liquor Lemon Creek Liquor Les Schaub Tires Little Hong Kong Marine View Bldg.

McDonalds McDowell Group Mendenhall Apartments Mendenhall Mall - in 3 locations Merchant’s Wharf Mi Casa Miner’s Mercantile Moose Lodge Nugget Mall Papa Murphy’s Petco Pioneer Home Powell Realty Prospector Hotel Rainbow Foods Rainy Day Books Rayco Sales Re/Max Rejuvinations Reliable Transfer Safeway - in 2 locations Sandbar Grill Sandpiper Restaurant SEARCH Clinic Senate Building SERRC Shattuck and Grummet Silverbow Bagel Southeast Foot and Ankle Southeast Furniture Southeast Mining Supply St. Vincent de Paul State Farm - 3 locations Super Bear Swampy Acres Temsco Tesoro The Canvas The Rookery Cafe

The Viking Tlingit Haida Bldg.

Tram Travelodge True North FCU - 3 locations Tyler Rental UAS Library UAS Mourant Building University Book Store Valley Lumber Valley Medical Valley Paint Valley Restaurant Washboard Laundry Western Auto Wildflower Court Wingnut Auto Salon Wings of Alaska World Wide Movers KAKE Delivered to 220 Residents KETCHIKAN 1st Bank - 3 locations Alaska Job Service Alaska Public Assistance Office Alaska & Proud Ketchikan Alaska Marine Highway Cape Fox Lodge Cape Fox Mall Community Connections Highliner Laundromat Ketchikan Indian Community Madison Lumber Newtown Liquor Pacific Airways Peacehealth Ketchikan Clinic Pioneer Home Plaza Mall Promech Air Red Anchor Café Safeway Food & Drug Taquan Air Tatsudas Grocery The Landing Tongass Federal Credit Union Tongass Substance Screening UAS - in 2 locations

KLAWOCK Black Bear Klawock Market Klawock Liquor Store Island Air METLAKATLA Annette Island School District Metlakatla Community Council PELICAN Delivered to 125 Residents PETERSBURG Alaska Airlines Alaska Marine Highway Coastal Cold Storage Glacier Laundry Hammer & Wikan Hammers Hardware Hammers Marine Joan-Mei Petersburg Motors Rexall Drug Rockys Marine Scandia House SE Island Fuel Tides Inn Trading Union USFS Office Wings of Alaska POINT BAKER Delivered to 40 Residents SITKA Agave Restaurant CFC City Building Ernie’s Old Time Saloon Gary’s Outboard Repair Hair Loft Harrigan Centennial Hall Lakeside Mall Lyles Market Center McDonald’s Murry’s Pacific NAPA Petro Marine Pioneer Bar Ready Mix Rentals SEARHC

Sea Mart Sitka Airport Sitka Pioneer Home SMC Contractors Spenard Builders Subway Super 8 The Back Door Cafe Tongass Threads Totem Square Westmark SKAGWAY AB Hall Alaska Liquor Alaska Marine Highway Dahl Memorial Clinic Fairway Market Ferry Terminal Garden City Glacier Smoothies Library Mile Zero National Parks Service Petro Marine Sergeant Preston’s Lodge Services Unlimited Skagway Pizza Station Skagway Rec Center Sweet Tooth Westmark Whitehouse Wings of Alaska You Say Tomato SNETTISHAM Delivered to 10 Residents TENAKEE Don Pegues THORNE BAY Thorne Bay Market WRANGELL Bob’s IGA City Market Raymes Stikine Inn Zak’s Café YAKUTAT Delivered to 400 Residents

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APRIL 2015