Alaska is filled with large expanses of untouchable wilderness. It is cold throughout the year the sun's rays shines only six months of the year but it's perhaps some of the most beautiful country you'll ever see. Pristine white, it glitters like countless diamonds as the sun touches it. Most people may wonder why anyone would want Alaska real estate thinking about the almost constant freezing temperatures, all of the snow and ice. There's nothing to wonder however, Alaska real estate may be mainly raw land but it's some of the most beautiful get you will ever see.
The majority of Alaska's population is found in the southeastern portion of the state the remainder of Alaska's real estate is considered raw or vacant land. Millions of acres of land that's empty of not wild life. Wild every day life is one of the major draws for people wanting to invest in Alaska real estate. The whole state is a superb hunting and fishing ground. There is also the fact that Alaska is full of oil. Purchasing Alaska real estate could give you use of a few of the oil that Alaska holds. More regularly though, you'll be having a wonderful piece of land full of unspoiled natural splendor land however can be purchased relatively cheaply when compared with other locations because of the remoteness of the land, the problem reaching it and also the fairly hostile climate.
The marketplace of Alaska real estate does fairly well despite many of these, sales prices are up an average of about 1.6% over the previous quarter. This is actually the good news unfortunately for those thinking about purchasing property there are currently less homes available on the market. For those selling, homes take longer to market.
The Fairbanks and North Pole Alaska real estate areas have been some of the hardest hit with regards to new construction. With Fairbanks Alaska real estate new builds, dropping almost eight percent and also the North Pole Alaska property new builds dropped just a little over nine percent. Out of the homes currently available on the market, more than twenty-five percent of these have been sitting on the market for at least six months, while approximately eighteen percent were available on the market for over a year.
Rates of interest for that market are sitting approximately the 6.5 and 6.65% range. Anchorage happens to be seeing an increase in the prices of land building materials and labor. These days it is one of the best positions in the market for buyers due to the low interest but still inexpensive price points on land. Technically, it is still regarded as a sellers market because the inventory of homes, which used to determine which kind of sell it off is, less than six months is recognized as a sellers market while over six is recognized as a buyers market. This means that when there is a substantial percentage or all the housing inventory that is on the market and it has not sold for more than six months the industry considers that place to be in a buyers market.