How can I show off my great Alaska natural resources?
Alaska real estate is known for its breathtaking natural beauty, so make the most of it by creating a certified wildlife habitat to verify and authenticate that the property is as pristine as it appears. As the trend toward going green continues to drive the imagination and investments of home buyers, a certified wildlife habitat is fun, relaxing and sustainable. Alaska real estate is a perfect place to begin this type of program whether you go it alone or have the entire neighborhood participate.
The National Wildlife Federation certifies the habitat while providing helpful tips and information designed to attract the flora and fauna for your area. Home buyers interested in a sustainable lifestyle will appreciate the ability to live in harmony with nature making it an attractive "plus" when it comes time to selling your home. For more information on how to create a Certified Wildlife Habitat in your own yard, contact the National Wildlife Federation at www.nwf.org.
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What is a hybrid ARM?
If you are contemplating the purchase of Alaska new homes, then shopping for a mortgage is a priority. Mortgages used to be so simple: you qualified for a certain interest rate and then could pick the term - usually 15 or 30 years. Today, all of that has changed. In addition to fixed rate mortgages, adjustable rate mortgages (ARM's) have become popular, including Hybrid ARM's.
All mortgages have a proper place and time to be used but it is important to understand exactly how each works before signing on the dotted line. Unfortunately, there is a lot of confusion when it comes to hybrid ARM's. Here to help are some of the major issues to keep in mind when considering the use of a hybrid ARM loan.
1. Interest rates and monthly payments are not "fixed" so are likely to increase. The formula used to calculate interest rates changes over time and depends upon your individual loan but in general, there is a base interest rate known as the "index," plus an additional interest charge called a "margin". The total interest will be a combination of both.
2. Teaser rates end. Artificially low interest rates are designed to attract buyers who might be short on cash for a limited period of time - usually 2 to 5 years. After that period of time the mortgage payments can increase significantly.
3. You cannot always refinance. While mortgage brokers make it sound easy, the reality is that they are often more difficult. Refinancing is impacted by lending practices, loss of job, poor credit and other changes that take place over time.
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What is the cost of living in Alaska?
Nearing retirement and dreaming of the day you can break away from the rat race and spend more time fishing than sitting in traffic? You aren't alone. Americans seem to crave the idea of "getting away from it all" and finding a little piece of paradise to call their own. One of the last remaining places untouched by progress is Alaska real estate, so it should come as no surprise that it is a nature lovers paradise. Before you sell the house and anchor down in Anchorage, spend a little time calculating the cost of living.
1. Away from it all doesn't cost less. In fact, privacy is at a premium in most areas of the nation. While rural living may reduce the mortgage payments and cost of raw land, expect to pay more to develop the property. Standard items taken for granted in an average subdivision can add thousands of dollars to the cost of a property before the first shovel of dirt is broken. Clearing trees, installing well, septic and sewer, bringing in fill dirt for driveways and other necessities are costly and time consuming projects.
2. Travel takes longer. Long weekend visits with family are likely to become extended vacations; business trips may feel like a full ordeal.
3. Shipping and Shopping. Enjoy online shopping? Plan on orders taking a little longer to arrive - assuming they will ship to you in the first place. It is common to incur additional shipping charges as well. Groceries are no better. The high cost of transportation has a dramatic impact on food and other common commodities.
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Where can I find Alaska Real Estate Resources?
Searching for foreclosures, investment properties or other Alaska homes for sale? Need financial assistance to purchase your first Alaska new home? Already own a home in Alaska but need funds to repair it? Whatever your situation, here are some great Alaska resources to help you locate the perfect home for you and your family.
Government Foreclosures for Alaska. Locate VA and other government foreclosed properties in Alaska by visiting: http://www.homesales.gov/homesales/mainAction.do?pageAction=GetCounties&state=AK&stateName=Alaska
HUD Foreclosure property listings can be found by visiting: http://www.tenmanagement.com/listings/state.do?code=AK.
Alaska Housing Finance Corporation (AHFC) assists in low interest loans and other programs designed to help first-time home buyers. To learn more or find out if you qualify visit: http://www.ahfc.state.ak.us/home/index.cfm
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When Do You Need a Real Estate Attorney?
Many home owners and real estate investors buy and sell property without ever using a real estate attorney while others use their services for every transaction. How can you determine what you are able to do on your own or when you really need the services of a competent attorney when buying Alaska real estate? Here are some commonly encountered problems best left to the expertise of a legal adviser:
1. Trust & Estate Issues. While online wills, trusts and other estate documentation is readily available online, it isn't always as simple as it appears. Variations in state laws, ownership rights, rights of succession and even tax issues can create the very havoc you seek to avoid. Understand the full consequences and long term planning by discussing ownership and transfer issues with your attorney.
2. Partnerships & Investment Funds. Carefully review the terms of the contract and/or partnership prior to formalizing any agreements to avoid lengthy (and costly) disputes from arising in the future. Spending a little in the planning stage can avoid serious problems later.
3. Title Concerns. Clouded titles are often simple typographic errors but occasionally serious problems with ownership transference arise. Legal matters require strict adherence to legal and technical considerations best left to an experienced attorney.
4. Fraud. Damages due to fraud may be difficult to prove and elicit little response from the offending party. Often the mere threat of legal recourse is enough to inspire the offending party to make reparations in order to avoid costly litigation.
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How can I landscape my Alaska home?
- Before putting your Alaska real estate on the market, take time to give it a fresh new look including a lush landscape. Yes, we said lush. Most people from the lower 48 tend to think of snow as soon as they hear Alaska, but with a little planning and preparation it is possible to have a colorful garden that rivals any area of the nation.
- Alaska Cedar. This lovely evergreen is sure to please in every season. Since it is native to the area the maintenance and upkeep is minimal.
- Sitka Alder. The broad shiny leaves and dense foliage make this a pleasant change of pace.
- Paper Birch. A perennial favorite, birch are simply beautiful especially during the change of season.
- Arnica. Several varieties of Arnica thrive in the Alaskan landscape including Alpine and Heartleaf which both contain big bright yellow flowers.
- Siberian Wood Asters. This low growing plant will reach knee height while forming a lovely flower sure to attract the attention of birds as well as neighbors.
- Bluebells. Blue is one of nature's most elusive flower colors so it should come as no surprise when these become the center of attraction.
- Water. Something as small as a bird bath can add that little extra touch to bring the yard to life.
- Sitting Area. Add a park bench, a few potted plants, fire pit or other inviting touches to create an serene sitting area.
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