Market News
The 3.8% real estate tax is back in the news again. The good news is that this tax will not affect most of us, but if you would like to know more details, read this article that outlines the scenarios for people who will be affected.
Are you wondering how the F-16 move could influence home prices in Fairbanks and North Pole? Watch Wes's recent interview on CBS News to find out!
Wes was interviewed on KTVF on the impact the relocation of the F-16s from Eielson will have on the housing market and local economy. Watch the full interview here.
Warren Buffet suggests single family homes as a great investment! Watch the full interview to learn more!
The future of Eielson Air Force Base is up in the air, read the recent article to learn more about the F-16 Squadron being relocated and what that means for Fairbanks and North Pole.
North Pole, AK gets a shout out for being a town where Christmas lives year round. Read the full article.
Planning On Buying A Home In The Next Year? Here's What You Need To Do Right Now!
Fairbanks, Alaska was ranked #7 in the Forbes.com 10 best places to live cheaply!
The Department of Veterans Affairs (VA) has announced changes in their funding fees for VA loans closed on or after 10/1/11. Rates are down from 2.15% to 1.4% for First Time Use! For full details, check out the offical notice from the VA: Funding Fee Changes
Agentgenius.com posted a story on taking the For Sale By Owner (FSBO) approach to selling your home. The article highlights that the former CEO of FSBO 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.
He eventually gave up and hired a realtor who sold his home for $150,000 over the asking price. We thought you might be interested in this article. To read the full story, click here.
The February 26 edition of the Wall Street Journal contained an editorial by Karen Blumenthal entitled “Getting a Mortgage Before the Door Shuts”. We found the article very interesting and thought we would pass on its message. In the article, Ms. Blumenthal starts out by saying ”If you have been sitting on the fence trying to decide whether to buy a new house, or refinance a mortgage, you should act soon. New loans are starting to get costlier.” Click HERE to read more.
Property owners, you should have just received your Fairbanks North Star Borough assessment notices for 2011. Your preapproved property tax exemptions should be listed in the lower left hand corner of the notice. If you are applying for the residential exemption for the first time, be sure to sign the form and send it to the assessor’s office. If you are applying any other exemption, such as the Senior Citizens or Disabled Veterans, you will need to complete the Real Property Tax Exemption Application which can be found on the FNSB website at: http://www.co.fairbanks.ak.us/assessing/Docs/exemptionrealproperty.pdf.
The FNSB Residential Property Tax Exemption is 20% OR $20,000.00 ($10,000 for Service Area Tax), whichever is less, and may be deducted from your residential valuation for computing your property taxes. The exemption applies only to the residential portion of the property. You are entitled to this partial exemption on your property if:
1. You own and occupy all or part of the property as your residence.
2. There are no past taxes, penalty, or interest due.
3. You sign and return the assessment notice to the office by March 31st
Also, if you feel your assessment is inaccurate or does not reflect the true value of your property, call us and we will be happy to supply you with comparable sales in your area that will help you justify your value. Changes or adjustments can be made, for a limited time only, if you have documentation to prove that a correction should be made in the value of your property.
If you have any questions on either of these, contact the Fairbanks North Star Borough Assessing department at 907-459-1429, or give us a call at 907-452-3000. We’ll be glad to help!
GOOD NEWS!
The Department of Defense (DOD) is proud to offer the Homeowners Assistance Program (HAP) to eligible service members and federal civilian, including non-appropriated fund, employees. The program is authorized by law, and administered by the US Army Corps of Engineers (USACE) to assist eligible homeowners who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement.
The American Recovery and Reinvestment Act of 2009 (ARRA) temporarily expands the HAP to assist service members and DOD employees who are wounded, injured or become ill when deployed, surviving spouses of service members or DOD employees killed or died of wounds while deployed, service member and civilian employees assigned to BRAC 05 organizations, and service members required to permanently relocate during the home mortgage crisis.
For more information, CLICK HERE!
Homeowner Affordability and Stability Plan Fact Sheet