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        <title>Wes Madden's Real Estate Blog</title>
        <link>http://www.wesmadden.com/blog/</link>
        <description><h1>Mission of My Blog</h1>
<p>I will keep you regularly  updated on what's happening in our Fairbanks, AK real estate market, buying and selling tips, and ideas to improve the value of your home.</p></description>
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            <guid>http://www.wesmadden.com/blog/top-10-reasons-to-attend-the-iaba-home-show-this-weekend.html</guid>
            <link>http://www.wesmadden.com/blog/top-10-reasons-to-attend-the-iaba-home-show-this-weekend.html</link>
            <author>stacy@wesmadden.com (Stacy Risner)</author>
            <title>Top 10 Reasons to Attend the IABA Home Show this weekend!</title>
            <description> <![CDATA[ 
For the real estate industry in Fairbanks, the offical kickoff of Spring is the annual Interior Alaska Home Builder's Association Home Show.  This is a great event with vendors of all kinds there with information on just about anything "home" related.  We hope you'll stop by and see us at our booth this weekend.  And while you're there, here are a few more ways to join in on the fun!


TOP 10 REASONS TO ATTEND THE HOME SHOW:


10.  You can stock up on all your beef jerky needs at the Jerky Hut.


9.  The informative presentations by experts in the industry.


8.  You can get prequalified for a home loan.


7.  You are bound to run into old friends!


6.  Free candy!


5.  You can sign up for some great door prizes - to include a TV from the Madden Real Estate Booth!


4.  Have I mentioned the Jerky Hut will be there?


3.  Make a wish in the Fairbanks Children's Museum Wishing Well!


2.  Get another free yardstick.


1.  Meet the Madden Team!


See you there!


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            <pubDate>Fri, 22 Mar 2013 15:52:00 -0800</pubDate>
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            <guid>http://www.wesmadden.com/blog/holy-economic-updates-batman.html</guid>
            <link>http://www.wesmadden.com/blog/holy-economic-updates-batman.html</link>
            <author>stacy@wesmadden.com (Stacy Risner)</author>
            <title>Holy Economic Updates, Batman!</title>
            <description> <![CDATA[ 

Today I had the opportunity to attend the annual Yukon Title Company Economic Update.  For the past several years, they have brought up Ted C. Jones, PhD to give an economic forecast to the local real estate industry.  Ted is the Chief Economist for Stewart Title Guaranty Company, and always gives a fun and informative presentation.  This year was no exception.  Here are a few of the points that stuck with me:


The national economic update is looking a little bleak.  I knew the national debt was huge, but Ted really put into perspective for me.  What especially struck home was the point that the sequestration that's designed to cut government spending is only 2.2% of our total spending.  That's barely a drop in the bucket!  Likewise, one of the big questions in real estate right now is what will happen with capital gains taxes.  Ted's not sure, but the President's recommended 35% is HUGE!  And, will certainly have a big impact in the real estate industry.


Locally, however, things are looking a little brighter.  In fact, Alaska is the 4th best business friendly state in the country.  And, given this statistic, like many of us, Ted agrees that rather than focusing on the amount of the Permanent Fund, our government should focus on job creation.  In the Fairbanks area, our prices have remained relatively stable.  Ted credits this to the fact that we've purchased homes according to our income, and the low interest rates that we've enjoyed over the past few years have allowed us to purchase at at higher level.


Ted ended his presentation with a quote from the Bible.  Proverbs 22:7 - The rich rule over the poor, and the borrower is slave to the lender. This was the second time that I've heard this scripture today.  Maybe our government hasn't embraced this concept, but I'm thinking that someone is telling me I ought to!  Especially after what I learned today.


To learn more, read his blog Jones on Real Estate at http://blog.stewart.com/.
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            <pubDate>Wed, 06 Mar 2013 22:16:00 -0900</pubDate>
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            <guid>http://www.wesmadden.com/blog/in-lieu-of-holiday-cards-we-have-made-contributions-to-the-charities-of-your-choice.html</guid>
            <link>http://www.wesmadden.com/blog/in-lieu-of-holiday-cards-we-have-made-contributions-to-the-charities-of-your-choice.html</link>
            <author>Wes@WesMadden.com (Wes Madden)</author>
            <title>In lieu of holiday cards, we have made contributions to the charities of your choice.</title>
            <description> <![CDATA[ 
In December, The Madden Team made an offer to match charity giving from our friends and family up to $50 per donation and for a total of $1,500. The response was quick and very positive.  Thanks to our wonderful friends who took us up on the offer!


The 6 Charities to which we “paid it forward” are:


The Fairbanks Concert AssociationMatched by: Nicole Stewart


Alaska Family Health and Birth ClinicMatched by: Charisse Basquin


Alaska Center for Children and AdultsMatched by: Shirley Gordon


Big Brothers Big SistersMatched by: Jim Hage &amp; Greg and Charlene Bringhurst


St. Jude’s Children’s HospitalMatched by: Lynn Levengood


With All Your HeartMatched by: Alan, Shawn and Austin Head


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            <pubDate>Thu, 21 Feb 2013 22:34:00 -0900</pubDate>
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            <guid>http://www.wesmadden.com/blog/housing-is-a-focus-in-the-upcoming-elections.html</guid>
            <link>http://www.wesmadden.com/blog/housing-is-a-focus-in-the-upcoming-elections.html</link>
            <author>Wes@WesMadden.com (Wes Madden)</author>
            <title>Housing is A Focus in the Upcoming Elections</title>
            <description> <![CDATA[ 
We glad to see that both parties have identified housing as a focus for the upcoming years.  This article includes Romney's white paper on what he says will be his focus for the housing market.


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            <pubDate>Mon, 24 Sep 2012 09:42:00 -0800</pubDate>
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            <guid>http://www.wesmadden.com/blog/alaska-craftsman-home-program.html</guid>
            <link>http://www.wesmadden.com/blog/alaska-craftsman-home-program.html</link>
            <author>Wes@WesMadden.com (Wes Madden)</author>
            <title>Alaska Craftsman Home Program</title>
            <description> <![CDATA[ 
Some great courses are coming up next weekend!  These are excellent courses designed to teach homeowners how to make their homes more energy efficient.  Check it out!


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            <pubDate>Fri, 21 Sep 2012 13:55:00 -0800</pubDate>
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            <guid>http://www.wesmadden.com/blog/welcome.html</guid>
            <link>http://www.wesmadden.com/blog/welcome.html</link>
            <author>Wes@WesMadden.com (Wes Madden)</author>
            <title>Welcome!</title>
            <description> <![CDATA[ 
Welcome to our new website!


Our website offers local information about the areas we serve, state-of-the art search tools to help you find the home you are looking for, many helpful resources through our Preferred Partners, military relocation information, information about our incredible team and how we help the communities we serve, information about property management, and much more.


On our blog, you will find news, information, and updates on Alaska's real estate market. You are sure to find our videos interesting and informative.


Thank you for visiting our website. Please contact us for more information and assistance, we look forward to hearing from you!


The Madden Real Estate Team


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            <pubDate>Fri, 20 Jul 2012 09:07:00 -0800</pubDate>
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            <guid>http://www.wesmadden.com/blog/client-success-stories.html</guid>
            <link>http://www.wesmadden.com/blog/client-success-stories.html</link>
            <author>Wes@WesMadden.com (Wes Madden)</author>
            <title>Watch Video Testimonials From Our Clients</title>
            <description> <![CDATA[ 
#youtube-testimonials#  


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            <pubDate>Wed, 23 Nov 2011 08:16:00 -0900</pubDate>
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            <guid>http://www.wesmadden.com/blog/homes-for-heroes-how-va-home-loans-pave-the-way-for-a-great-future-for-these-folks.html</guid>
            <link>http://www.wesmadden.com/blog/homes-for-heroes-how-va-home-loans-pave-the-way-for-a-great-future-for-these-folks.html</link>
            <author>Wes@WesMadden.com (Wes Madden)</author>
            <title>Homes for Heroes – How VA Home Loans Pave the Way for a Great Future for these Folks </title>
            <description> <![CDATA[ 



*Note you don't have to be 50% disabled to waive the funding fee. See below for a list of all exempt from paying funding fee.


Watch on your mobile device &gt;&gt;


#sn-buttons#


What a great honor to be able to return the favor that so many service men and women give us every day as they continue to put their lives on the line for our safety. Whether active in duty, someone that has experienced disability as a result of military service or any veterans who have been honorably discharged – there are homeownership benefits out there for you!


NO DOWN PAYMENT!


This used to be something that we would see a lot in television and billboard ads, talking about how easy it was to obtain a loan of any sort. But with lending practices even tighter than they used to be, we hardly see the phrase “NO DOWN PAYMENT” anymore. One of the very few loan types still available that requires no money down, the VA home loan is a great way for our heroes to reestablish their lives without the typical down payment needed. At one time the average down payment was about 20% down, and with an FHA loan there is a really low down payment of 3.5%, which is significantly lower. But zero down mortgages free up much-needed cash flow for other costs associated with a new home. Another great benefit of VA home loans is that they do not involve mortgage insurance expenditures as with typical loans.


VA Funding Fee Reduced or Waived


To obtain a VA guaranteed home loan, the borrower must pay the VA funding fee but the good news is that depending on where you stand with the military – that fee can either be reduced or even eliminated from your mortgage application process. The one-time fee is typically rolled into the mortgage amount and ranges from 1.25% to 3.3%. The amount of down payment made plus also whether the borrower is on active duty or reserve impacts the exact percentage required.


Two other ways to reduce or eliminate the VA funding fee are either by putting down at least 5% down on the property, in which case the fee will be dropped to 1.5% for active duty personnel -- or if the person borrowing is disabled the fee is reduced. There are no extra funding costs associated with the loan for veterans that are 50% or more disabled as a result of their service.


Loan Guaranteed by the VA


If you are a military veteran, personnel activity serving on duty, a veteran with a partial of total disability or an honorably discharged serviceperson – the Veterans Administration guarantees your loan. In case the bank comes to a point of needing to foreclose on the home, the VA will come in and pay the bank a certain percentage of the loan as part of their guarantee. This added protection is what allows lenders to comfortably approve loans to military personnel with the additional benefits offered.


~


The thing to keep in mind if you are considering obtaining a home loan that is guaranteed by the VA, is to mention this to your Realtor or loan officer as soon in the process as you can. The earlier they know of your potential eligibility for this type of loan, the better they will be able to serve your needs and calculate what your costs will be, including the VA funding fee. This is especially applicable if you are a veteran with a disability. Since VA home loans can be originated through any qualified lender, your choice of Realtor will be able to refer you to their VA loan experts so that the process can begin in expert hands.


*The following persons are exempt from paying the funding fee:




Veterans receiving VA compensation for service-connected disabilities.


Veterans who would be entitled to receive compensation for service connected disabilities if they did not receive retirement pay.


Surviving spouses of veterans who died in service or from service connected disabilities (whether or not such surviving spouses are veterans with their own entitlement and whether or not they are using their own entitlement on the loan).


Veterans who are rated by VA as eligible to receive compensation as a result of pre-discharge disability examination and rating.


Veterans entitled to receive compensation, but who are not presently in receipt because they are on active duty.




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            <pubDate>Tue, 01 Nov 2011 08:44:00 -0800</pubDate>
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            <guid>http://www.wesmadden.com/blog/fsbo-your-advantages-and-disadvantages-why-shouldnt-i-try-to-sell-my-home-by-myself.html</guid>
            <link>http://www.wesmadden.com/blog/fsbo-your-advantages-and-disadvantages-why-shouldnt-i-try-to-sell-my-home-by-myself.html</link>
            <author>Wes@WesMadden.com (Wes Madden)</author>
            <title>FSBO - Your Advantages and Disadvantages - Why Shouldn't I Try to Sell My Home by Myself?</title>
            <description> <![CDATA[ 



Watch on your mobile device &gt;&gt;


#sn-buttons#


Many homeowners think about selling their home on their own by very few actually attempt it, and you have probably asked yourself, "Why is that?"


The reason why is that it is an extremely time-consuming and often exhausting process, especially if you are also working a full-time job. It's my job to take that burden off your back. I am not discouraging you for attempting to sell it yourself, in fact, in some instances I’ll even recommend it to sellers, but before you do it, I want to encourage you to be sure you understand the advantages and disadvantages of each side.


The main advantage is that you do not have to pay a commission to a realtor and you will have complete control of the transaction.


The disadvantages are that it is a tremendous amount of work and having complete control of the costly and delicate transaction process can result in a deal that falls through or costs you a considerable amount of lost time and money.  Yes, you can get a purchase agreement from the title company and go it alone, however remember this, the title company does not represent you and isn’t responsible for guiding you through the process.  Have you ever wondered why their purchase agreement is only three pages long and ours is eight?  Give me a call and I’ll explain to you why, but before I leave you, consider this news…


Founder and former CEO of ForSalebyOwner.com, Colby Sambrotto listed his 2,000 square foot New York condominium on his own through online classified ads and FSBO sites, but after six months, he opted to hire New York broker Jesse Buckler who immediately advised a price change as the listing was not attracting the right buyer.




After giving up on the DIY route, Sambrotto’s decision to hire a broker led to attracting multiple offers, closing for $150,000 over the original asking price. The Wall Street Journal reports the listing sold for $2.15 million including a 6% commission.




Below are the advantages and disadvantages of FSBOs. Read it carefully and then make your decision!


Advantages of Selling Your Own Home


Of course, the biggest advantage a FSBO is that there's no commission to be paid to a Realtor. You get all the proceeds from the sale, minus any marketing costs you incur.


A second advantage is that you have complete control of the transaction. You don't have to rely on anyone else. You're totally independent.


A third advantage concerns your equity. If it's low, you have the possibility of selling your home without having to write a check.


A fourth advantage is that you don't have to rely on a realtor to schedule showings, answer inquiries, etc.


Disadvantages of Selling Your Own Home


Perhaps the greatest disadvantage is the tremendous amount of time you have to put into the sale.


It's a time-consuming process to do all the paperwork, the marketing and advertising, the showings, etc. by yourself - not to mention the hours it takes to get acquainted with all the legal, financial, and other issues. You must be prepared for this.


A second disadvantage is the costs in terms of marketing and advertising. If you don't exactly what you're doing, this can be very expensive! We spend an enormous amount of research and marketing dollars to invest in the latest technologies that are not available to the average homeowner.


A third disadvantage is that you won't have access to the Multiple Listing Service (MLS). The Multiple Listing Service is only available to licensed Realtors who are MLS board members.  Without access to the MLS, you’re left with few options that will actually get a significant amount of potential buyer traffic and can lead to a very inefficient, ineffective, and frustrating process.


The fourth disadvantage relates to your knowledge of the market. If you're not knowledgeable about it, you may not price your house correctly.


That is, you may underprice it or overprice it. If you underprice your home, you lose money. If you overprice it, you lose buyers. By the same token, if you do find a buyer and you're not experienced at contract negotiations, you could be taken advantage of.


In Fairbanks, there are many pitfalls throughout the transaction process that can spell disaster for real estate transactions: home inspection requirements and repairs, specific lending requirements, challenging appraisal processes, well and septic inspections, etc.


A fifth disadvantage relates to a belief of some buyers. They believe that since you're selling the house by yourself and not paying a commission, then they're the ones who should get the savings instead of you! There is also a perception that if you’re not using a real estate professional, you may be hiding something with the home and that’s not the perception you’d want to convey.


My Advice: Do your homework before considering selling your home by yourself! And, if you do decide to go the FSBO route, be fully prepared in all aspects of home sales!


If you'd like more information and advice on selling your own home as well as my real estate services, contact me.


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            <pubDate>Tue, 20 Sep 2011 09:17:00 -0800</pubDate>
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            <guid>http://www.wesmadden.com/blog/energy-conservation-in-your-home-this-winter-protecting-the-environment-and-your-wallet.html</guid>
            <link>http://www.wesmadden.com/blog/energy-conservation-in-your-home-this-winter-protecting-the-environment-and-your-wallet.html</link>
            <author>Wes@WesMadden.com (Wes Madden)</author>
            <title>Energy Conservation In Your Home This Winter – Protecting the Environment AND Your Wallet</title>
            <description> <![CDATA[ 



Watch on your mobile device &gt;&gt;


#sn-buttons#


One of the most significant money mongers is the heating bill in a home – especially during the coldest winter months. And one of the best ways to address the heating efficiency in your home is to take a few measures that will ensure efficient running, ending up in less waste and more money in your pocket. We’ve put together some tips to help get you started this year on the winterizing energy kick you and your house can benefit from:


Seal Gaps In Doors, Windows and Access Points


Many people underestimate the power of proper seals in windows and doors and how keeping a bit of draft out can make all the difference in keeping the home warmer all winter long. For a few dollars, you can buy a caulking gun and some caulk to re-caulk the draft spaces – plus you can replace door seals if they are corroded. You will be surprised at how much of a difference this change makes. This is something that should be checked every year, though it may not be necessary to do it each year. The savings can add up to several hundred dollars year-round and also positively affects cooling efficiency during the warmer months.


Get An Energy Audit Performed


Depending on where you live, you can request a free energy audit from agencies that come out and perform a thorough check on your home and its energy use. If you are in the Fairbanks area contact the Golden Valley Electrical Association or GVEA or follow that link for the GVEA's Home$ense Program. You will also benefit with a pack of energy saver light bulbs (usually up to $100 worth of bulbs). You can find a list of reputable agencies to perform free energy audits here. All in all, the savings can pile up quickly when you take a few steps to actively reduce energy use in your home.


Have Regular Maintenance and Service Checks Done


By having the major heating and cooling appliances in your home regularly checked and serviced, not only can you prevent major expenses from occurring by catching problems before they surface but you can also preempt any issues from developing. Keeping your appliances in good working order will result in them running better, producing better results and spending less energy to accomplish these results.


There are many functional and financial advantages to getting energy efficiency upgrades for your furnace system as well. Minor changes can have a major impact on the amount of money it costs to heat (and cool) your home since fuel costs are significantly reduced.


Harness the Sun’s Energy


Since grade school we have learned about the power of the sun’s energy and this could not be truer in practical life. A lot of homeowners have no idea of how much warmth they can generate in their home just from the heat from the sun’s rays. Depending on the position of your home, you can heat up a room quite a bit by keeping the shades open. Skylights also have a good deal of impact on the heat (and light) of a room.


Cut Back on Excessive Energy Usage


When possible, turn extra lights off, use electrical appliances only when necessary, turn the TV off when it is not being viewed, and set your thermostat on an automatic timed schedule. These measures and other similar things will reduce the expenditure of energy in your home and you will notice a sizable reduction in your electric and heating bill. For even more success, get the entire household involved so that it is a collective effort.


~


There are myriad ways to conserve on energy. On the Internet you can find many resources for tips and tricks on how to make adjustments that end up helping to save money while protecting our environment as well.


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            <pubDate>Tue, 13 Sep 2011 10:14:00 -0800</pubDate>
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