The market in Eagle River is also returning to more "normal" market. This report includes Eagle River, Chugiak, "Birchwood", and Peters Creek.
Eagle River has always had fairly active owners selling on their own. In this market, they are finding significantly greater competition and lots more "lookers." Their success is entirely dependant on their ability to read the continual changes in marketplace prices.
Homes that are priced competitively, in good condition, and marketed well continue to sell -- but take longer. Competition is stiffer. The bulk of the activity is in the $225,000 to $350,000 price range.
Interestingly enough, the Eagle River market is holding a little firmer than Anchorage.
Eagle River continues to reposition itself from a bedroom community of Anchorage into an area unto itself. For some time it has been a popular residential area for military families based at Elmendorf Air Force Base and Fort Richardson (Army).
More and more people want to get away from the crowds in Anchorage and so they choose to move to Eagle River, Chugiak and Peters Creek. Only 10 minutes from downtown, Eagle River residents are no farther away from downtown than those who live in south Anchorage. Eagle River has changed from a primarily military community to a community for everyone.
An advantage to Eagle River is it's proximity to Elmendorf Air Force Base and Fort Richardson. All information below is based on the areas of Eagle River, Chugiak and Peters Creek.
With the growth in the Eagle River area, demand is staying fairly even with new listings. There's been little change in the number of properties on the market this month as opposed to last month.
The information or data used in this publication is copyrighted by AK MLS, Inc. 2008 and no portion may be reproduced, redistributed or retransmitted without the express permission of AK MLS, Inc. Further, AK MLS, Inc. does not warrant the accuracy of the information or data contained herein
Currently there are 284 "residential" properties listed in Eagle River, Chugiak & Peters Creek (including zero lot line, single family & townhomes). Of these 50 are new construction, under construction or "to be built."
There are 22 condos on the market with 11 new construction, under construction or "to be built." These numbers are virtually the same as last month.
There are 197 vacant lots -- residential, commercial and recreational.
Multiplexes are less available with 7 showing active.
There are 98 properties of all types that have received contracts and now are pending sales.
Once people move to Eagle River (including Birchwood, Chugiak and Peters Creek), they rarely move to Anchorage. Rather they may move from Eagle River to Peters Creek or visa versa.
There are some scattered clusters of other new homes, just off Driftwood Bay and Firehouse Road and off Hiland Road. Other spotted areas of new properties pop up from Eagle River through Peters Creek.
Overall, Eagle River, Chugiak and Peters Creek homes have appeared to have held their value averaged throughout 2007 and continue into 2008.
Eagle River is a location of great interest. It's northern most areas -- Thunderbird Heights and Eklutna marks the border from Anchorage into the Matsu Valley.
ZIP Codes: 99577, 99567 Approximate Location Boundaries: Eagle River is located about 10 miles north of downtown Anchorage and is part of the Municipality of Anchorage.
Location Characteristics: Once a bedroom community of Anchorage, Eagle River, Chugiak and Peters Creek have taken on their own community character. The area is bounded by Eagle River and lots of mountain park area.
About Pauline Hofseth:
Pauline's genuine, caring attitude has helped families, just like yours, make an exciting and smooth transition when buying or selling their homes. Her proven approach and family values have earned her the respect of clients and colleagues alike. As a result, much of her business comes from referrals from past clients.
Pauline began her professional real estate career in 1986, in the field of commercial and residential property management. With the same gusto she dedicated to her commercial clients, she turned to residential sales in 1989 and became an Associate Broker. Here, she used her degree from Maryland University and many years of experience in Journalism/Public Relations to maximize seller exposure and put buyers into their chosen homes.
Pauline prides herself in carefully listening to her clients' needs and translating them into buyer and seller action plans. To her credit, Pauline is among the top 25% of some 100 Anchorage Prudential Vista agents and has consistently received the President's Award for sales achievement. She truly believes that honesty and looking out for the client's best interests are critical to achieving success. People of all walks of life make up Pauline's client base. She handles all properties, from starter homes, move-up and fine custom homes to land and income properties.
When she began her career in real estate, Pauline made a commitment to work hard and spend the long hours necessary to be successful. Through consistent effort and a reputation for outstanding service, Pauline has built a solid client base and has expanded her business through referrals from satisfied clients.
Included in Pauline's in-depth training are special real estate courses in real estate practice, economics, financing, marketing, ethics, property management, legal aspects, appraisal techniques, real estate as investments, technology, exchanges, taxation and creative financing. This extensive background and knowledge base enables Pauline to provide outstanding quality advice and service not found with many agents today.
Organizations with which Pauline is affiliated are National Association of REALTORS®, Alaska State and Anchorage Boards of REALTORS®, Anchorage Multiple Listing System, Certified Residential Council and Real Estate Buyer's Agent Council. She is one of the few agents in the nation to hold the professional designation "GRI" (Graduate Realtor Institute) and the prestigious designation of "CRS" (Certified Residential Specialist). She is also "ABR" (Accredited Buyer's Representative), a "RECS" (Real Estate Cyberspace Specialist), and was named an e-Pro by the National Association of Realtors and e-Certified by the Prudential network.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
