And hopefully a little more…

I’m already ducking tomatos for using the same bad pun twice in one week.

But here are a couple properties currently on the market that look as if they would produce an income right out of the box. 

• $250,000 for a very unusual four plex…Listed with Charlene Moss at Prudential Vista Real Estate.

• $189,900 for a 1,952 square foot duplex with a garage.  Listed with Larry Ficek at RE/MAX of Wasilla

It’s easy to make a case for these multi-family units to actually produce a monthly income.  If you would like to see any of them, give me a call on my cell, (232–7900).  I would love to show them to you.

Some people make a distinction between investment property and income property.  In this distinction investment property isn’t expected to pay off until it eventually sells, when the appreciation hopefully exceeds the purchase price and holding costs. 

Income property actually begins to pay for itself immediately and if it is maintained properly usually appreciates as well. It seems to me that if one is investing in real estate it would be a good idea to purchase something that pays for itself.

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I mentioned previously that I would not revive the deals of the week unless I knew I had a bona fide DEAL.

Well here is one. It has a recent appraisal for more than $300,000 but the price was lowered today to $259,900. Here are the details on the house.

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In this internet age we tend to think we can do anything with the web.  You can buy your books, book your flights, even get your MBA on the internet. 

The real estate business has changed for good because of the internet.  Studies show that at least 80% of home buyers use the internet to search for their home.  These studies are at least two years old and Alaska is a very connected state. It is my belief that Alaskan home buyers use the internet at least 90% of the time.  The next most important piece of marketing is your sign.  Then the print media shares the little sliver of marketing pie that is left over.

But we make a mistake when we think we can find a good deal on the internet.  We might find an interesting property.  We might put it on our list to see.  But until we can smell it, feel it, walk on it, look at the neighbors and just breath in the air, we don’t really know if the property is any good or not.

For that reason I have been forced to kill the deals of the week.  I am not going to put this out every week unless I have actually seen the property or personally talked to someone else who has seen it. 

I was a little embarrassed today after a reader called me for directions to one of my “deals”.  When I actually went to look at it myself I had to admit that it is only a mediocre deal.  Even for an experienced Realtor who knows this valley almost inside out, it is impossible to discern a real good deal unless I can touch it and see it with my own eyes.

So instead of the Deals Of The Week on Tuesdays, I will publish a Wasilla Real Estate News Alert when I hear of a good deal for which I don’t already have buyer.  Sorry folks, my buyers come first. 

If you want to be one of the people that are called before an alert goes out, just send me a note by email.  Give me your number and I’ll put you on our buyers board in the office.  Those are the people who are called first.

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There are some interesting properties in Wasilla real estate this week.  I just finished looking through more than 150 listings and a few stand out.

• A real nice Chalet on Lazy Mountain with more than 2 acres for $220,000
• $48,000 for a lot NEAR Finger Lake.  With a cabin thrown in for $9,000 more
• A 2,800 sq ft house off about mile 5 KGB road with a view, garage, and only 7 years old for less than $100 per sq ft.
• A brand New 3 bedroom 1 1/2 bath house for $149,900

Those are just a few of the places that stand out right now. 

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Here are a few good deals for the Wasilla Real Estate News this week. 

• $148,000 listed by Lee Mitchell, RE/MAX of Wasilla, 1200 sq ft, built in 1995.

• $165,000 listed by Kevin Crozier, RE/MAX of Wasilla
• 1,406 sq ft.  looks like a foreclosure. 

• No Photo…but 2,824 sq ft for $180,000 in Memory Lakes.  Listed with Charlene Moss, Prudential Vista…that’s only $63.74 a sq ft, one of the lowest on the market.

Finally, I HAVE to put in three of my own that are great deals:

• $149,900, I keep getting phone calls asking me if this is an unfinished price, let me say this loud and clear…THIS IS A FINISHED HOUSE.  Not only that, it’s finished very nicely.  3 bedroom, 1 1/2 bath on almost a full acre just on the edge of Wasilla on Locksley Loop.  Here are more details.
• $255,000, If this isn’t the nicest home for the price anywhere in Wasilla I would be surprised.  This house is 2,500 square feet, in-floor heat on both floors, 4 bedrooms, three full baths, a family room, den, storage room and extra large garage.  Go here for more info
• $239,900, 1560 square foot ranch just off of Fairview Loop Road.  This is a brand new home to be finished around the end of June or so.  Time to pick your colors.
• More info here.

If you would like to know about any homes on the market in the Mat-Su Valley give Jay or Marty a call.  907 373–0999 will catch us both.  We look at homes every day, we know the market.  When we are searching for homes for a buyer we scour not only the MLS, and when we can’t find one there, we start calling other people and even home owners that own a home like the one you want.  Who knows, they may want to sell!

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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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Here are the deals for the week.  It looks like Kevin Crozier has a corner on the market this week, BUT if you have any question on these deals give ME a call.  :-)  

907 232–7900 is my cell phone number.

• $35,000 lot in Serendipity listed by Kevin Crozier, RE/MAX of Wasilla
• $134,900 house in Palmer listed by Kevin Crozer, RE/MAX of Wasilla
• $165,900 house in Timberview listed by Donnie Allen, Century 21 North Homes
• $187,900 house on Palmer-Fishhook by Kevin Crozier, RE/MAX of Wasilla
• $225,000 Chalet in Glacier View by Marty Van Diest, RE/MAX of Wasilla
• $227,000 house in Eagle Estates by Sonja Stoker, Coldwell Banker Best Properties

Check out the deals of the week every week in the Wasilla Real Estate News

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This post will be a little off-beat for a Realtor.  But I promised to tell it like it is, and this post will do that.

Would-be real estate investors often ask me for good deals.  They are hoping to find a fixer-upper, do the work themselves, and then re-sell for a profit.  Nothing wrong with that, in fact, if I wasn’t so busy finding homes for people, I might do the same thing.  But knowing what I know, I wouldn’t waste a lot of time calling local real estate licensees. The listing Realtors job is to help a seller get top dollar for his home. 

If the Realtor is doing his job right, the property will be priced fairly, perhaps even attractively, but it will not be priced significantly under the market.  Occasionally a seller needs to sell very quickly.  These are the few times a Realtor will price a home at a real deal. 

I search through the MLS system every week to try to find the deals for newsletter.  The inside info for this week does not come from the MLS. 

So how can you find the good deals without a Realtor?…here is the inside scoop.

• 1. Find vacant homes.  In Alaska, that’s easy.  Just drive around during the winter and find driveways that aren’t plowed.  Do not enter the driveway or walk around someone elses home.  That’s called trespassing and is a crime.  Besides, the neighbors might have a shotgun.
• 2. Find sellers in trouble. Look at foreclosure notices in the papers.  All papers have them but the Alaska Journal of Commerce seems to have more than it’s share. Here is one online source.
• 3. Contact the owners. Write them a letter.  To find their address, look them up on the Mat-Su Borough Website.  If the house has a Realtor’s sign in front of it, contact the Realtor not the owner.
• 4. Treat them with dignity and respect.  Most people who are struggling with their mortgage have problems out of their control.
• 5. Be patient. If you expect to find one good deal out of 100 contacts, that will be about right. 
• 6. Be prepared.  You will need to act fast when you do find that good deal so line up your financing ahead of time. 

It takes a lot of homework and foot work to find a good deal.  But they are out there. 

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Well, both deals for last week really were good ones.  The lot had multiple offers and I think the builder sold 5 of those houses.  We wrote four of them ourself.

Those are such good deals for new construction that they make the list this week as well. 

He has three bedroom ranch with a one car garage for $157,000.  That includes a $35,000 lot, a 100 foot well and a septic.  You could move in by August.

The next deal for this week is this log home for only $115,000.  Click on the photo to enlarge.  It is over 1,700 square feet on almost one acre in the Lazy Mountain Area and out of the wind.  It needs some repair to finance.  But this is a rare opportunity. Call for details.

My cell phone is 907 232–7900 or you can email by clicking the contact link just under my name above right.

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These real estate deals are usually brand new listings. I haven?t seen most of these properties because they just came on the market.? I am making a judgement call based on what I know about the area and about real estate.? I have to look at the photos and judge whether the price seems good based on the market.

It?s important to remember that the really good deals usually are sold within a week or two.? Sometimes, when the market is slower they will take a month to sell.? I have had sellers tell me that they want their home sold within a week.? Well, that?s easy, price it to sell.? It has to be significantly below the competition, perhaps by as much as 10%.??

In the past?articles I?have listed?property that?is fairly priced but not necessarily significantly below the competition.? I am going to try to pare it down only to properties?that seem to be priced to sell very quickly.

So here are the?two deals for this week:

• A one acre lot with a very small cabin, view, power, and phone.? $27,500?RE/MAX of Wasilla
• Brand New 3 bed, 2 bath, 2 car garage in Palmer? $156,000.? 468 sq ft unfinished, RE/MAX of Wasilla.? This is a ?to be built?

Although these are both RE/MAX listings, I don?t represent either seller.? I would love to represent you on a purchase of these deals.

By the way, a previous deal of the week, this cute cabin, now has 3 offers on it.?

Call me at 907 232?7900 or click the contract button above and send me a message.

If you want to get these messages in your email as soon as they come out click the subscribe button above.?

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