Real Estate Blog - homeowners

Understanding Key Documents in Your HOA

Understanding Key Documents in Your HOA - Alaska Management Group

Written by Cliff Goughnour

The governing documents for your association contain the rules, regulations, and all other contractual terms that you and the other members are bound by. If you purchase property that is part of an association, your membership is automatic upon purchase. 

For this reason, Alaska State law requires that a Resale Certificate be provided to a prospective buyer prior to closing. In this way, a new owner is aware of what they are agreeing to, and can make a clear decision on whether the association's standards and restrictions meet their own. 

The only problem with this scenario, is that most prospective buyers don’t take the time to fully read these…

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Five Things to Keep in Mind When Buying a Condo - Precision Home Group

There are many differences between owning a condo and owning a single-family home. People who live in condos tend to do so because they enjoy the convenience and benefits that come from condo living. These include but aren't limited to: lawn care, snow removal (for those here in Alaska), some utilities, exterior maintenance such as roof and siding, and community amenities like pools, playgrounds and patios. They offer a community lifestyle where much of the property maintenance isn’t the owner’s responsibility. If you are thinking about purchasing a condo, consider these five concepts.

1. Covenants, Conditions and Restrictions

First, you must understand what CC&Rs are. CC&R stands for Covenants, Conditions and Restrictions, and…

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The Four Responsibilities of a Property Manager - Alaska Real Estate

There are many choices when it comes to selecting and hiring a property manager. With so many options, it can be difficult to know how to select the right one from the beginning. Below we will cover the four main responsibilities your property management company should offer.

1. Set the Rent Logically

Setting rent may seem like a easy task, but is often times done incorrectly. Many of the do-it-yourself landlords look to Zillow or Craigslist when setting their rent, which is like going to a car dealership to price your 2000 Honda Accord based on the current year’s model; it is not accurate and won’t sell. These websites can be good resources, but when used alone will not give you all of the information you need. That is because it…

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FHA Loan Basics - Alaska Real Estate

There is a lot of mystery surrounding the mortgage financing world. With many different loan types and mortgage providers, it becomes difficult to know where to start. We are going to analyze, and break down, one of the most common loan types available, the FHA loan.

Before we talk about specifics, including pros and cons of using the FHA loan, lets explain the history behind it. FHA is the acronym for the Federal Housing Authority. The FHA was formed in 1934 during the Great Depression. This was done to spur home construction, reduce unemployment and increase the availability of loans to people.

Over the years the FHA has taken on many roles but at its core has kept the mission to keep housing affordable and achievable by all.…

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Five Beginner Investor Mistakes to Avoid - Alaska Real Estate

It has been said by many people that investing in real estate is the key to building wealth. Andrew Carnegie, billionaire industrialist, stated it best, “Ninety percent of all millionaires become so through owning real estate.” However, how do you start, what are the mistakes to avoid, and where should you get your information from? This article will focus on the top five mistakes people make when beginning to invest in real estate.

1. Starting Too Soon

All too often, I see people who get too eager to invest in real estate and don’t quite understand what they are getting into or how to invest properly. They want to tell others, and themselves, that they are an “investor.” This title is not more important than the ability to purchase…

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You Have Accepted an Offer to Sell Your Home - Now What? - Precision Home Group

There is a lot of mystery surrounding the sale of a home. Many people don't know what happens after they accept an offer and before the transaction closes. Some are only concerned with what it is going to cost. Here we are going to lay out the timeline and explain exactly what happens. Keep in mind, there are going to be some slight changes depending where you are located and other transaction specifics. Ask a local realtor for the specifics, or contact Precision Home Group and we will make sure you get set up with the best Realtors in your area.

Accept an Offer

In order to start the process, we need to have an Accepted Purchase and Sale Agreement between you and the buyer. This can be stressful and take some time. I've seen…

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Home Buying - Don’t Let Your Emotions Control You - Precision Home Group

Buying a home can bring out a slough of emotions. It is a big decision, and there are many moving parts that must come together to make it happen. It’s both stressful and rewarding. You have looked forward to this for a long time and dreamed about it since you were a kid. It’s easy to get overwhelmed and make big decisions based on emotion, not logic. Here are several ways to keep your mind on track and keep things in check, so you make the most informed decision possible.

1. Choose the Right Realtor

Picking a Realtor because they are your friend, they are nice or will give you a discount, is not the best choice. Ensure that the agent you choose to work with has the knowledge necessary to protect you and get the job done efficiently and…

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Don't Take Real Estate Advice From Your... ? - Anchorage, Alaska

Don't take real estate advice from your... ?

Doesn't it seem like everyone will you give you advice when it comes to real estate? Whether it's your parents, grandparents, friends or neighbor, everybody has a piece of “wisdom” they’d like to share. We’ve all been guilty of taking advice from the wrong source. Usually, the truth is they think they are helping! But, when it comes to investments, it's important to get help from the right sources.

In order to analyze the advice given to you and guarantee its validity, make sure you consider the following:

1. Are they experts in their field?

2. Do they heed their own advice?

3. What are their results?

4. Have you found supporting research and facts?

First, we must ask if the advice is…

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