Real Estate Blog - Alaska Real Estate

Common Buyer Expenses - Precision Home Group

Common Buyer Expenses When Buying a Home

Buying a home can be a big undertaking, whether it's your first time or your hundredth time. No matter how many times you’ve been through the process, it's great to know when it will cost you money and how much. There are a lot of things that come up during a home purchase. Different loan types and lenders have different fees, however there are also consistent buyers costs in most transactions. In this article, we want to share those with you so that you can be prepared.

Pre-qualification

Unless you are paying cash for our home and you do not need to finance it, then you need to get prequalified. This is the process of talking to a home mortgage lender and working with them to review your…

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Play the Bigger Game - Precision Home Group

Once you start talking about real estate investing, everyone wants to join the conversation. There are a lot of opinions thrown around on how to do it, personal experience, and maybe even their family’s strategy for investing.

At Precision Home Group, we base everything off of facts and thorough research. We make sure to fully understand an investment, before we present it to potential clients for sale or purchase. We make sure that whatever deal we put our name on is well thought out, ran efficiently and well represented.

Overall, we have seen a trend of people purchasing small deals, and trying to make a quick buck through flipping, wholesaling. We have also seen an increased utilization of people trying to invest with other people's…

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Comparable Market Analysis - What is a CMA and How Does it Determine Your Home’s Value? - Alaska Realtors

All too often, realtors use jargon that the average person isn't familiar with. The term “CMA” is one of those terms you may have heard, but wasn’t sure what it meant. CMA stands for Comparable Market Analysis. This is how real estate agents determine the market value of your home before they get it on the market.

Real estate agents come up with these values through research of your home’s location, comparable properties and the market. Unlike most commercial properties, whose value is determined by income, residential properties take a different approach.

There is a difference between “tax assessed value” and “market value.” Tax assessed value is what you pay taxes on and, depending on where you live, can be above or below market value.…

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Home Inspections - Before or After You Get it on the Market? - Precision Home Group

When working with sellers, one of the things we advise is to get a home inspection done before getting the home on the market. Now, typically this is a cost that a buyer would incur during a home sale transaction, but there are several reasons why a seller would want to do this.

During a home inspection a licensed home inspector will meticulously check out the entire home from foundation to roof. They provide a report, typically next day, with complete recommended repair items with thorough pictures and descriptions. These reports are usually broken into three categories: health and life safety, significant repairs, and recommended repairs. By getting the home inspection before you get it on the market it allows home buyers to be at ease,…

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Be Unreasonable With Your Investments - Precision Home Group

Too often, I see people who want to start investing in real estate too soon. Everybody knows that real estate is a great investment for many reasons, but many people don’t know how to do it properly. Because of this, I see people invest in many different types of deals at varying results. The masters in the investing game are unreasonable about their investments and you should be as well.

As an inexperienced investor, you will see a lot of potential deals that all may look like a great deal. However, before you start investing, you need to analyze many deals and create your own requirements for investing. Those requirements should include things like your desired rate of return, location, how long you intend to hold the deal, knowing and…

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5 Things to Know About a Letter of Intent (LOI) - Alaska Real Estate

When looking to lease or purchase a commercial property, you want to start the process by walking the property, looking at financials and making sure the property use fits your needs. The next step is to submit a letter of intent, or LOI, to start the process of negotiating terms with the property owner. Below are five things to be addressed in the LOI.

1. Purchase Price and Terms

One of the first things that the owner will want to know is what the buyer is paying for the property. This can come in a variety of different ways, but at the end of the day it needs to be specific how the price is going to be settled.

In a lease, this is typically calculated in a dollar amount per square foot and will have a set percentage escalated…

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Updates vs. Maintenance - Alaska Real Estate

We work with a lot of people who want to sell their homes. One of the most common questions we get is in regards to home value, and recent renovations and maintenance.

Many people think that because they recently had their roof, furnace or other items replaced, they can include that cost into the price and recoup some of that expense.

Additionally, people ask about their remodels and renovations and how that influences the price of their home. Let’s dive deeper into this topic and explain what items affect price.

How Are Homes Priced?

Before we begin talking about how maintenance and updates, let's talk about how homes are valued. Homes are priced based on the sale of recent comparable home sales that are similar and in close…

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Precision Home Group Sells Homes 44% Faster Than the Industry Average! - Alaska Real Estate

We have just finished collecting data from over the last 12 months and have the statistics to prove that we sell homes 44% faster than the average industry days on market.

Here in Anchorage, Alaska our current average days on market for single family homes is 45 days, while for Precision Home Group it is only 20 days. We are able to do this because of three things: marketing, agents and knowledge.

Precision Home Group’s marketing is the best real estate marketing in all of Alaska. We achieve this by using the best technology, all platforms and staying on the cutting edge of trends, while knowing what works in our market.

We begin by using professional photography which is sourced in house, which means we have our own photographer on…

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“We Can't Sell During the Winter” - Anchorage, Alaska

I talk to people everyday about buying and selling homes. This is one of the most common objections and myths I hear, from about August until March. Alaska is a very seasonal place and things typically slow down during the winter. Many people think the same is true for the real estate market. But is it really?

Currently, it is mid September as I write this, and already people are talking about shorter days and colder nights. I hear of people taking their homes off the market because their friends, neighbors and self-proclaimed experts are telling them to do so. But, here are some facts:

• Active Homes on the Market= 952

• Homes with Accepted Offers = 451

• Closed Homes Since Sept.1 = 52

• Closed Homes Since Aug. 1 =…

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Strategic Analysis - Precision Home Group

Strategic Analysis

When looking at both commercial and residential properties for the sake of an investment, one must ensure that they are getting the best deal possible. In order to do that, there needs to be a systematic way to look at a property and make sure that all aspects are accounted for. The Strategic Analysis method is the best way to make this happen. This method ensures that the potential buyer looks at four main areas of concern in the due diligence process: Financial, market and competitive, location and site, and political and legal. We will go into more depth on each one of these subcategories.

Financial Analysis

The purpose of an investment is to make money. In real estate, this is done in many ways, including…

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