Absorption Rates What is it and why should you care?
If you're a follower of real estate news, you've probbly heard folks talk about it being a "buyer's market" or "seller's market." But, what do those terms really mean and what does it mean for Fairbanks home buyers and sellers. How well homes are, or are not, selling determines what type of market we're currently in. Think of the absorption rate as a statistical representation of Fairbanks real estate supply and demand.
Ok, so what type of market is Fairbanks right now? Well, let's take a peek.
595 = Number of homes currently on the market 83 = Number of homes sold between April 1st - May 1st 595/83 = 7.2 Months
It will take 7.2 months, or until December '08, to sell everything currently listed for sale at the current sale rate if nothing new was listed for sale. obviously different segments of the market react differently. Starter homes traditionally outsell luxury homes. Single family homes often sell at different rates than condominiums or townhomes. A word of caution - Market value is still determined by what the surrounding homes are selling for as well as the desireability of a home. Age, condition, size, location and amenities all factor into the homes value.
Why You Should Care
Sellers: Understanding current market conditions will help you in establishing a realistic asking price based on market performance. Let's say the absorption rate for homes between $200,000 to $250,000 is 5.4 months and the absorption rate for homes priced between $250,000 to $300,000 is 12.8 months. If by looking at comparable homes that have sold, your hoem is valued at $261,000, it might serve you better to set your asking price just under $250,000. When you factor in carrying costs such as your mortgage payment, utilities, taxes and insurance you might find lowering the price up front to effect a quicker sale might save you considerablly.
Buyers: Many factors go into establishing a homes market value. As I said above, age, condition, size, amenities and location all factor into what a home is worth on the open market. Using the time equals money equation, if you were looking to negotiate a sales price below the seller's current asking price, it might be more likely with homes in North Pole, which has an absorption rate of 8.6 months rather than in Fairbanks, which is currently at 6.9 months.
Your one stop for real estate and community news for Fairbanks and Interior Alaska brought to you by Jesse and Kathy Clifton, your local Fairbanks real estate experts.
Fairbanks Alaska new construction homes for sale. Brand new homes finished and ready for occupancy
New construction homes in Fairbanks run the gamet from a cozy 650 square foot log cabin on 4.4 acres for $155,000 to a fantastic new construction with unsurpassed panoramic views of Fairbanks and the Tanana valley for $735,000.
Fairbanks new construction represents a great opportunity for buyers looking to move up from their current home into a new home, perhaps even one with spectacular views.
SOLD - New Homes In West Fairbanks
Area
Bedrooms
Bathrooms
Res. Sq. Footage
Acres
Sold Price
West Fairbanks
2
1
1,200
1.36
$185,000
West Fairbanks
3
2
1,344
2.18
$215,000
West Fairbanks
3
2
1,344
2.18
$219,000
West Fairbanks
3
3
1,460
.21
$220,000
West Fairbanks
3
2
1,460
.21
$225,000
West Fairbanks
3
2
1,870
.38
$284,000
Rural Fairbanks
3
2
1,484
1.02
$240,000
Shopping for a new home in Fairbanks or North Pole? Search the Fairbanks MLS for new construction homes or sign up for our Realty Retriever and let her do the work for you. Free no-obligation email notifications when a new listing matching your search criteria comes available with any agent or office. You can opt out any any time and as always, we will never rent, sell or otherwise disclose your contact information to anyone.
In this case it is easy being green. According to the National Safety Council approximately 41 million computers became outdated in 2004 and 63 million in 2005. That number was expected to reach upwards of 500 million in 2007. Research shows that 75% of outdated, unused computers are stored and awaiting disposal.
Electronic equipment contains a myriad of hazardous materials. A typical desktop computer contains between 2-4 pounds of lead, mercury, cadmium, copper, lithium, brominate flame retardants and phosphorus. Do something green and recycle your old unwanted electronics.
On Saturday April 26th and Tuesday April 29th, bring your old unwanted electronic waste (anything with a circuit board) to the Carlson Center for shipment to a recycling facility. Although both days are open to household collection, April 29th is designated for corporate collection by appointment.
Hours:
April 26th - 10:00AM - 4:00PM (household) April 29th - 9:00AM - 5:00PM (corporate) April 29th - 5:00PM - 7:00PM (household)
The electronics you turn in will be sorted and packed for shipment to a recycling center in Seattle (the closest recycling plant). Many of the materials in those old electronics items such as the plastics, glass, steel, gold, lead, mercury, cadmium and fire retardants can be recaptured for reuse. The recycling process separates CRT's and other equipment into component parts, some of which will be used to reduce our demand for raw materials and of course, reduce the amount of waste pouring into the landfill.
There is a nominal cost for disposing of your old electronics ranging from nothing to $25 depending on what you wish to recycle. There is a bulk discount of $0.35 per pound, so get together with your friends and colleagues and get rid of that old equipment you're not using. Thanks to a grant from the Rasmuson Foundation, Alaska non-profit agencies will be able to recycle their electronic waste at a reduced price for the next three years.
There are a few items that will not be accepted; video and audio cassette tapes, smoke detectors, loose batteries, vacuum cleaners, household electric appliances without a circuit board (toasters, vacuum cleaners, etc.). For more information please contact Interior Alaska Green Star at (907) 452-4152 or info@iagreenstar.org.
Established in the early 70's as a way to develop and promote agriculture, horticulture in Alaska and to provide quality produce products to the public, the Tanana Valley Farmers Market showcases a variety of Alaska Grown products and plants as well as Made in Alaska products. TVFM is the oldest established farmers market in Alaska and the only one located in its own permanent building.
With a growing season that extends from April to September, and with a little help from that famous 24 hour sunshine in the summer months, we have an outstanding bumper crop of everything from rhubarb, asparagus, beans, beef, beets, blueberries, broccoli, cabbage, carrots, cauliflower, celery, dairy products, flowers, grains, herbs, hay, kohlrabi, leeks, lettuce, mushrooms, onions, peas, pork, spinach, squash, strawberries and much more.
You can also find some of the most mouth watering baked goods, wild berry jams and jellies anywhere. Fresh homemade ice cream, sugar corn, fresh made to order sandwiches and espresso, fresh meats and sausage, native handicrafts, jewelry and pottery, artwork, baskets, clothing, wildflower honey (delicious) as well as fresh flower bouquets are all waiting to be discovered
While we have to depend on the grocery stores for our fresh produce in the winter, and that quality is sometimes lacking, summer produce from the Tanana Valley Farmers Market is outstanding.
The word is out... Arctic Man is a go! The course is open today through Thursday for practice with the race start planned for Friday, April 11th at 1:00PM. Saturday and Sunday are reserved as back-up days if the start has to be delayed because of weather conditions.
Wait... What IS Arctic Man? Well, it's the culmination of winter sports in Alaska - a weekend long party where adrenaline junkies, snowmachiners and skiiers/snowboarders come to together to, well, play in the snow. Held in the HooDoo Mountains, aka, "the middle of nowhere" Arctic Man turns the area around Summit Lake, near Paxson, Alaska into the 5th largest community in the state with nearly 17,000 temporary 'residents'.
An annual even held at Summit Lake, Alaska, Mile 196 Richardson Highway, near Paxson, AK. If you are into snowmachining, downhill skiing or extreme sports, Arctic Man is the place to be this weekend. Racers and spectators come from across the state to watch the one day race as well as spend the weekend riding through layers of fresh powder in some of the most incredible country known to man. what began as a total party weekend has morphed into a family event where folks of all ages can come and have a good time. The Alaska State Troopers will be on hand to keep things somewhat under control as well as the Alaska Air National Guard to provide EMS evacuations to Fairbanks via several Blackhawk helicopters that will be on standby should they be needed.
The Arctic Man Ski and Sno-Go Classic is certainly a one-of-a-kind event; The race goes like this: the skier/snowboarder starts at 5,800 ft. and then within two miles drops 1700 ft. into a canyon and meets up with their snowmachine partner. The skier grabs a towrope and the pair continues back uphill for upwards of two miles going anywhere from 70-90 mph. At the top of the second mountain, the pair separates and the skier plummets down another 1200 ft. to the finish line. Piece of cake!
The whole course covers a total of 5.5 Miles. The record speed to date for both sled and skier is 88.3 mph in 1999 by Johnny Martin on a Yamaha 600 pulling skier Petr Kakes. The Quickest overall time of 4:04.46 was set by Polaris rider, Tyson Johnson and skier, Sasha Gros in 2003. Have you got what it takes to be an Arctic Man?
For more information, visit ArcticMan.com. See you on the slopes!
We've been playing with this insane video thing since our buddy in Washington, Mrs. My-Globe-Makes-Me-Look-Smart...er, burst onto the video scene. I figured this was as good a time to jump on board as any.
Well, I should have jumped off an overpass because this stuff is for the birds. I now have newfound respect for the pundits that sit in front of a camera and do their thing. It is readily apparent that if video blogging is the wave of the future... I'm going to have to retire.
Since it's Monday and everyone needs a good laugh on Monday, I thought I would share this little bloopers video with you. What started out as a simple video market report ended up in deleted clip after deleted clip of on camera brain dumps.
So, have at it... have a good laugh. Goodness knows we've laughed our behinds off today.
Do you like chocolate? No, I mean really, really like chocolate? If you think chocolate should be its own food group, we have just the event for you. Join us as we celebrate the University of Alaska Museum's 18th Annual Chocolate Bash on April 12th at 7:30PM.
This year's theme, Chocolate Art in the Golden Heart, was selected to highlight both Fairbanks' centennial and the Museum's current special exhibit, New on View. Installed especially for the Chocolate Bash, the exhibit features 24 recent additions to the Museum's Fine Arts collection. It includes works by well-known artists such as Rusty Heurlin, Sam Kimura, and Kesler Woodward, as well as newcomers to the Museum's collections such as Lena Amason, T. Michael Croskrey, Sonya Kelliher-Combs and Sara Tabbert. Together, the works give visitors an appreciation of the range of art created in Alaska and a preview of the types of art to be displayed in the future Rose Berry Alaska Art Gallery.
Special treats include Chocolate Decadence, a cake made by Westmark Fairbanks Hotel chef Luis Martinez, chocolate indulgences courtesy of Biscotti, Deserts First, Fairbanks Princess Riverside Lodge, Five Star Catering/The Espresso Deli, Hot Licks Homemade Ice Cream, Lavelle's Bistro, Pump House Restaurant, The Fudge Pot, and UAF Tanana Valley Campus Culinary Arts Program. Alaska Coffee Company, Coco-Cola of Alaska, North pole Coffee, Odom Company and Spring Alaska will be providing an array of wine, champagne and assorted non-alcoholic beverages.
As if the chocolate extravaganza isn't enough, Alaska Airlines has generously donated two round-trip tickets as this years door prize. The acclaimed Alaska Jazz Trio will be on hand to provide the musical backdrop - If you haven't had the chance to hear the, their music alone is worth the price of admission.
All proceeds from the evening benefit the Museum Endowment Fund, which supports acquisitions, field research, exhibits and educational programs and provides matching funds to secure outside grants. Tickets are $50 in advance, $60 at the door or $450 for a book of ten tickets ($50 off the per-ticket price) and may be purchased by phone (474-7505) or in person at the University of Alaska Museum. Guests must be 21 or older to attend.
Are you looking for a spacious clean in-town apartment?
If so, check out this ground floor 2 bedroom 1 bath in West Fairbanks. Conveniently located near the West Fred Meyer, this unit is in a triplex with two quiet, long term neighbors. Enjoy the benefits of in-town living with the felling of being in the country - this property has rear neighbors. Enjoy the common covered porch for summer BBQ's in the privacy of your own back yard. Apartment is spacious and sunny - thanks to a wall of windows - the bedrooms are generous with built in closets and dressers. The kitchen features newer energy efficient appliances, which mean low operating costs for you. An added benefit of this unit is the detached double car garage.
Fine Print
<> $1,100 per month ($1,050 if paid on 1st) <> Pets Allowed On Approval (W/ Pet Deposit) <> References Required - Will Be Checked <> Heat, Water/Sewer, Trash Collection & Lawn Maintenance/Snow Removal Paid By Owner <> Electricity, Telephone, Cable, Internet (as applicable) Paid By Tenant
This unit is available immediately. Please contact Jesse Clifton for more information or to arrange a viewing.
Home Page - Showcase Homes - Real Estate Retriever - Client Testimonials - Realty Blog - Our Newsletter About Fairbanks - Market Reports - Buyer's - Seller's - Photo Tour- Contact Us - Realtor Referrals - Privacy Policy Each Office is Independently Owned and Operated. The information published within this Internet website has been deemed by Jesse Clifton Real Estate, LLC (www.the-spouses.com) to be accurate and truthful. The statements contained within this document should not be considered as all inclusive. Jesse Clifton Real Estate, LLC reserves the right to change / alter any information, including listing price and/or terms. For the latest up to date information, contact Jesse or Kathy Clifton. Jesse Clifton Real Estate, LLC dba Carriage House Realty is a licensed Real Estate Brokerage and operates under the authority of the Alaska Real Estate Commission. Carriage House Realty is a member of the Greater Fairbanks Board of Realtors and the Fairbanks Multiple Listing Service.
Jesse & Kathy Clifton, Spouses Selling Houses Jesse Clifton Real Estate, LLC dba Carriage House Realty 410 Dunkel Street Fairbanks, Alaska 99701 Direct: 907.699.6024 Fax: 866.421.4339
In this case it is easy being green. According to the National Safety Council approximately 41 million computers became outdated in 2004 and 63 million in 2005. That number was expected to reach upwards of 500 million in 2007. Research shows that 75% of outdated, unused computers are stored and awaiting disposal.
Welcome to the Fairbanks 
Wait... What IS Arctic Man? Well, it's the culmination of winter sports in Alaska - a weekend long party where adrenaline junkies, snowmachiners and skiiers/snowboarders come to together to, well, play in the snow. Held in the HooDoo Mountains, aka, "the middle of nowhere" Arctic Man turns the area around Summit Lake, near Paxson, Alaska into the 5th largest community in the state with nearly 17,000 temporary 'residents'.
