Do you work with investors? Eagle River Alaska is a great place to own a rental. In our current economic times, buyers are trying to decide whether they should purchase a home or rent. In our area the vacancy rate is 5-6%, and homes rent for approximately $1.00 to $1.20 per square foot.
Military personnel moving to Fort Richardson and Elmondorf AFB are here for 3 to 4 years. In the past they have purchased because of the movement in the market. Now many are looking to rent. They do not think that home prices will rise enough in 3 years that they will be able to sell their home and not have to pay.
For each listing I have 3 out of 4 calls ask if they can rent. Alaska’s economy is fairly stable and land is scarce, we did not see the over building and speculation that other areas saw. Our housing prices are reasonable with the average home in Eagle River being priced at $315,000 for about 1800 sq. ft. townhouse style condos are priced from $218,000 to $235,000. There is a good mix of properties, with a few 4-plexes available in the Anchorage market, Eagle River has very few multi-family units.
If you know someone that is interested in this area call me and I can provide you with a brief overview of our community. If you would like to see the homes for sale, visit my website www.leerealtyalaska.com. We will pay referrals and I have have someone that can take video of a home for interested investors. Prudential Jack White/Vista Real Estate of Eagle River provides property management services for out of town investors, and property owners whom do not wish to manage their own properties.