Fastest Growing States in West and South

Nevada regained the title of fastest-growing state with its population increasing by 2.9 percent to 2.6 million through July 2007.

Nevada had held that title for 19 years in a row before being dethroned by Arizona last year. Arizona is the second-fastest-growing stat,e according to the current estimate, with a population increase of 2.8 percent to 6.3 million, according to the U.S. Census Bureau’s annual estimate of state population changes.

Florida saw the sharpest fall off in population growth. Florida grew 1.07 percent, only slightly faster than the U.S. growth rate of 0.96 percent and the slowest growth rate in the state since 1990, making it the 19^th fastest-growing state.

The only two states in the country to lose population were Michigan and Rhode Island. Michigan lost 30,500 residents, a 0.3 percent decline.

The 10 fastest-growing states in order are:

1. Nevada
2. Arizona
3. Utah
4. Idaho
5. Georgia
6. North Carolina
7. Texas
8. Colorado
9. Wyoming
10. South Carolina

The Alaska Housing Finance Corporation is sponsoring a FREE class in Girdwood for home Buyers.  This is an eight hour seminar.  Upon completion, you will receive a gift certificate good for up to $250 off the Alaska Housing Finance Corporation commitment fee.  Learn more about:

• Selecting a Lender
• Selecting a Real Estate Licensee
• Home Inspections
• Purchase and Sale Agreements
• Alaska Housing Finance Corporation and Federal Programs
• Appraisals
• Budgeting and Money Management
• Shopping For A Home
• Pros and Cons of Home Ownership
• Energy Efficiency Programs
• Representation and Property Disclosures
• Title Insurance

For more information, download a Brochure.

Tuesday and Wednesday January 29 and 30

6:00 PM to 10:00 PM

Alyeska Hotel

Come celebrate the season, with refreshments, at the top of Alyeska Resort with Santa and Penny the reindeer.  Get a sneak peak at the Roundhouse at Alyeska, Girdwood's newest museum.  It's all free, courtesy of the Alaska Wildlife Conservation Center, Alyeska Resort, Girdwood Inc, Girdwood 2020, and the United States Forest Service. 

Sunday December 23rd from 4:00 PM until 6:30 PM

A photographer will be on hand for a small fee, or bring your own camera.

Click here for more information!

At last night's Land Use Committee meeting, the Preliminary Plat for the Lower Matrix of the Crow Creek Road development was unveiled by the Municipality's consultant.  Revised wetlands data obtained this last summer pushed this portion of the development closer to Glacier Creek.  As depicted, there are 47 lots with an average size of 17,250 SF in the Preliminary Plat; however, the consultant expects to lose a number of these lots during the approval process and end up with about 40 lots in the final version of the Plat.

When asked, a representative of the Heritage Land Bank expects the market to absorb 8 to 10 lots per year at sales price of $125,000 to $150,000.  Construction is currently anticipated to occur in 2009.  My opinion is that the sales prices will be higher, the absorbtion lower, and construction to be delayed.

As the Crow Creek Neighborhood plan is written, up to 25% of all 700 or so lots will be available by individual sale to the public.  Up to 25% could be less than 25%.  This could also occur at any time in the project build out.  It's likely, from what I understand, that the Lower Matrix will be sold in whole to a developer who will put in the infrastructure and resell the lots.

Here is your copy of the Preliminary Plat for the Lower Matrix.

By the way, last night the Assembly approved the Mayor's recommendation that I be appointed to the Girdwood Board of Supervisors.  Thank you to those of you who have offered your support and congratulations.  I am looking forward to learning about the inner workings of our local government.

Credit Score Primer: What Buyers Need to Know

In the wake of the credit crisis, lenders have become much pickier about whom they lend to. Here are some basic facts that will help potential borrowers understand what they face.

The measurement that most lenders use to assess applicants' credit risk is the FICO score developed by Fair Isaac Corp. The score ranges from 300 to 850.

There's not one FICO score. Buyers have three: one for each of the three credit bureaus, Experian, TransUnion, and Equifax.

Each credit score is based on information the credit bureau keeps on file. Since credit bureaus don't share their data with one another, the three FICO scores may differ, sometimes by as much as 100 points.

The components of a FICO score are:

• Payment history: 35 percent
• Amounts owed: 30 percent
• Length of credit history: 15 percent
• New credit: 10 percent
• Types of credit used: 10 percent

A consumer with a 580 credit score might qualify under FHA requirements, but, generally, in order to qualify for a prime loan, a borrower must have a credit score above 620 for a conventional loan at all and above 720 for a loan at terms and rates most borrowers would consider desirable.

Source: The Dallas Morning News, Pamela Yip (12/03/07)

As our real estate market becomes more and more balanced, the opportunities for For Sale By Owner Sellers are becoming less and less.  In fact, according to the National Association of REALTORS, For Sale By Owner property sales have been consistently sliding from a high in 1997.  We are seeing this in our market as well.  Most For Sale By Owner Sellers eventually turn to a REALTOR for assistance.  We've had the opportunity to come to aid of eight Sellers this year alone who started out selling For Sale By Owner and I am pleased to tell you that we were able to sell all eight of these properties.  If you're thinking about selling, consider our experience and how much time we spend in continuing education, education towards professional designations, seminars, workshops, and conventions.  There is a potential minefield of missed opportunities and future disclosure issues for the uninformed.

Although the Girdwood real estate market is still a Seller's market in some segments and price points, most of the segments and price points have become quite balanced.  As a Buyer, it's not wise to think that you have the upper hand and believe that it is a Buyer's market.  Here are some thoughts you may want to consider as you ponder your position when you get ready to make an offer:

• An offer more than 10% off List Price will most likely be rejected. 
• You've probably got more choices today than you have had for years.  Move on if you're not going to reach an agreement with the Seller.
• You might consider negotiating items other than price, such as repairs, dates, and closing costs.
• If you want to justify your low offer with a list of reasons, make sure they can hold water and are not merely to justify your not wanting to pay market value.
• Lastly, it's a small town.....be respectful when you see the Seller around town.

Enjoy the snow this week!