Real Estate Blog - business

In Real Estate, Sometimes You Have to Get Creative

Written by Matthew Lindsay

We aim to over deliver in all of our transactions! We have a can-do attitude towards listing homes, and work to make sure we get the most for our clients in every situation. Sometimes, this means we have to get creative and be more hands on. 

We recently sold a single family, ranch-style home on the East side of Anchorage. The large family that was living there had outgrown the house, and we successfully helped them find and close on a larger home that better suited their needs.

When I say the house was too small for them, I mean it was WAY too small. They had a large family of girls living in a small three bedroom, one bathroom house. I grew up with four sisters, so I knew exactly what the father of this…

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Market Trends - July 1st, 2021

Written by Matthew Lindsay 

As many of you may have heard, the current market is going crazy! Homes are being sold for more than their asking price, at faster rates, and at higher volumes than ever before.

If you’re a buyer, the likelihood of you competing with other offers is much higher than previous years. However, sellers are getting multiple offers, demanding a premium, and not offering many of the traditional concessions that have been seen in the past. With how hot the market has been, we have even seen buyers willing to bring cash to the table above what the appraised value is.

Pricing

The graph below indicates that this time last year, sellers were only getting about 97% of their list price. Today, most sellers are taking their full…

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Bringing Firefighting into Real Estate

Written by Matthew Lindsay

Before starting Precision Home Group in 2017, I spent quite a few years in wildland firefighting. Most of that time was with Pioneer Peak Hotshots based in Palmer, Alaska. Pioneer Peak is a 20 person wildland firefighting crew. We fought wildfires all over Alaska, Canada, and the lower 48. This job took me to many of the interior villages of Alaska, the Northern Territories of Canada, most of the western states, and even some states on the east coast!

It was one of the most rewarding jobs, as we got to protect villages, small towns, and even some larger metropolitan cities. I spent more days throughout the year in the woods than I did at home -- averaging 16 hour shifts with about 2 to 4 days off a month. It was tough, as…

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This Has Been an Incredible Year - Precision Home Group

This has been an incredible year for Precision Home Group!! 

As you may know, Precision Home Group launched its own brokerage late last year, right before building out the newest office. This means we are an independent, locally owned, Anchorage based real estate brokerage!

By launching the new brokerage, my business partner and I merged Alaska Management Group (AMG), formerly known as Bonanza Realty, and our company Precision Home Group. 

AMG manages about 2,500 homes and condos through their home owners association (HOA) and condo owners association (COA) management company, and is still expanding! Our new brokerage that owns both of these companies is called Precision Real Estate.

Refer to the diagram below for a breakdown of the…

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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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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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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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Precision Home Group Gives Back - Anchorage, Alaska

The Belief that Business helps Create Community

Precision Home Group has teamed up with three local businesses to provide a solution to our cities growing at-risk communities. Precision Home Group -- with the help of Alaska Management Group, Hair Science Barber Shop, and Wealth DynamX -- came together to form the non profit, Operation Reborn.

In fall of 2017, the four business owners were talking about the current situation in Anchorage --  where the city was recently labeled as one of the “most dangerous cities” America, with the highest crime rate per capita alongside the highest rates of homeless. A lot of business owners complained about lack of good workers, crime in the area, and local government not providing any solutions.

…

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