ANCHORAGE BOARD OF REALTORS®

Buyers need to know the lay of the land. While the national news might be screaming that it’s a “buyers’ market,” that’s not ALWAYS true. Again, your local REALTOR® can help you get the information you need. There is a lot more to finalizing a successful purchase than just searching the internet and finding a home that looks good online. So, make sure you talk to a REALTOR® who can help you complete your sale or purchase.

With REALTOR® membership, selling real estate isn’t just a job, it’s a profession.

Our association members are residential and commercial real estate brokers, salespeople, property managers, appraisers, and others engaged in all aspects of the real estate industry in Anchorage, Alaska.

Members of the Anchorage Board of REALTORS® have access to a wide array of benefits, business tools, real estate market data, educational opportunities, and discount programs designed to help them succeed in today’s market.

FIRST TIME BUYER INFORMATION

Pre- Qualification Pre- Approval List of Needs & Wants Representation by a Professional Focus & Organization Be Objective

Pre- Qualification

Meet with a mortgage broker and find out how much you can afford to invest for your new home.

Pre- Approval

While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You also will avoid being disappointed when going after the homes you are interested in that may be out of your price range.

With pre-approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for their home. Costs for pre-approvals are generally nominal and lenders will usually permit you to pay them when you close your loan.

List of Needs & Wants

Make two lists.

The first should include items you must have (i.e., the desired bedrooms, bathrooms, square footage, etc.).

The second list is your wishes, things you would like to have (backyard, fence, additional upgrades, etc.) but that aren't absolutely necessary. Realistically for first-time buyers, you probably won't get everything on your wish list, but it will keep you on track for what you're looking for.

Representation by a Professional

Focus & Organization

In a convenient location, keep handy the items that will assist you in maximizing your home search efforts. Such items may include:

One or more detailed maps with your areas of interests highlighted.
A file of the homes that your agent has shown to you, along with setup sheets and photos.
Paper and pen, for taking notes as you search.
Take pictures to help refresh your memory on individual homes.
Location: Look at potential homes as if you are the seller. Would a prospective buyer find it attractive based on curb appeal, school districts, crime rate, proximity to positives (shopping, parks, freeway access) and negatives (abandoned properties, garbage dump, source of noise) features of the area.

Be Objective

When searching for your new home, ask yourself the following questions. Does this home really meet your needs? Does it financially make sense?

Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:

Include inspection & mortgage contingencies in your written offer.
Have the property inspected by a professional inspector.
Check to see that no changes have been made that weren't agreed on (i.e., closing cost, repairs, etc.).

All the above may seem rather overwhelming. That's why having a professional represent you and keep track of all the details for you is highly recommended.

SCHOOL RATINGS INFORMATION

To learn about Public and Private Schools in your neighborhood I recommend the below two websites. Click on either logo to be redirected to the website and start researching.