The Wasilla Real Estate News is written by me, Marty Van Diest of RE/MAX of Wasilla, for people interested in purchasing or selling real estate in the Matanuska-Susitna Valley.  This includes Wasilla, and Palmer, the two largest cities but does not stop there. 

Geographically, the Mat-Su Borough runs from  North of Talkeetna all the way to Lake Louise, so anything within that area is free game for discussion. The Mat-Su Convention and Visitors Center has a good map of the Borough  Most of the real estate action, is in the “core area” around Wasilla and Palmer.  Therefore, most of the topics will discuss that area. 

I work with my brother Jay Van Diest, also a licensed Realtor, to help people meet their real estate needs in this area.  I have been a licensed Realtor in this area since 1991, and I think Jay got his license in 1996.  He has been working with me now for more than 10 years.

Jay and I work as a team.  Generally he manages the transactions by lining up engineers, title companies, paperwork and closings.  I work directly with buyers and sellers.  But our roles overlap and you can call either one of us to get answers to your questions.

Rochelle Peterson also helps us by scanning all our files and inputting them to our transaction management system, making brochures, checking on signs, and researching DEC documents. 

Speaking of transaction management systems, we use an online system.  Any of our clients, cooperating agents, loan officers, and title companies can log on to see their file documents and communicate with us or each other.  The url is http://alaska.gurunet.net , you need a login code and password.  That will alllow you to see all your files but no one elses.  To check it out use “gguest” and “eagle” for a password.  Then click on my folders to get just a little glimpse.    

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I received a call recently from a frustrated buyer.  It seems she made an offer on a house eight days previously and still had not received an answer back from the seller.  She believed that since a deadline was placed on her offer the seller was obligated to answer her within that deadline.

That is a common misconception.  In fact many Realtors also believe the same myth. 

The only thing the deadline on your offer does is limit the time for which the offer is good.  If the seller wants to accept your offer just like you wrote it he must do so before the deadline.  If he accepts your offer after the deadline, then it still isn’t a contract unless you agree in writing to the extension.

It is common courtesy for the seller to respond within a reasonable time frame, but there is no legal reason why they need to respond at all.  If they completely ignore your offer, then your offer expires after your deadline and you are free to offer on another house or make a second offer on this one.

There are a couple of caveats to the above comments. 

• First, the seller’s Realtor is obligated by law to present the offer to the seller as soon as is reasonably possible. There are times that it isn’t possible to contact the seller.  If this is the case, the seller’s Realtor needs to communicate this situation to the other party.
• Second, If the offer is for the full price and terms as stated on the Valley Board of Realtors listing agreement, the seller IS obligated for something.  The seller is obligated to pay a commission even if the offer is not accepted.  This particular fact is usually not communicated effectively, if at all, to sellers. 

If you have more questions about this, leave a comment.

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Well, it’s the end of the day, and I just finished looking through 136 new listings or price changes for this week.  I don’t see any obvious ‘DEALS”. 

I see lots of fair deals.  Fair deals are houses priced about where they should be.  I think the market is such right now that if a house has good comparables and is able to be priced accurately it will sell if it is only $5,000 under it’s competition.  It doesn’t need to be a screaming deal to sell quickly.  It just needs to be a fair deal.

How do YOU find a “fair deal”?   Just look at enough houses to feel comfortable with the market.  Then when you see a house that meets your needs and does not seem to be way overpriced, make an offer.  Perhaps make an offer a little under the asking price and see what happens.  As long as someone else doesn’t also make an offer, the seller will usually come back with his bottom dollar. 

If the seller’s counter is a “fair deal”…take it.  You found your fair deal.

If you want someone who will help you find a fair deal and won’t push you to buy anything until you are comfortable.  Give me a call 907 232–7900.

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Spring has sprung, at least for Wasilla Real Estate and the whole Mat-Su Valley.  Even though the air was still chilly this morning, the market is heating up.    Just take a look at these two charts below.  The first is for this week and the second is for the previous week.  That’s quite a difference in just one week.   

In addition this chart from Alaska MLS shows a lower inventory, which if it keeps up will mean higher house prices in the coming months. Click on the chart to expand. The thing that could cool things down would be sharply higher interest rates.  But so far, interest are only moving upward slowly. 

So sellers are beginning to put their houses on the market, and they are selling.  They still have to be priced competitively, but when they are, the buyers are waiting.

More reading.

Previous market memos

Ted Jones on Valley real estate

Niel Fried on the valley economy

“This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market. “

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