Eagle River real estate market update August 21,2009

8/21/2009

Wow, what a week! Things have been hopping around here and I am just now getting to a weekly update.  I will still share with you last weeks numbers and try to give some insight into whats transpiring this week.  The weather has been very nice and it brings out the buyers.  School started this week in the Valley and in Anchorage, so many potential buyers have been very busy.

Last week we saw 16 homes pend in the Eagle River market compared to just 14 new listings.  When I looked at existing inventory yesterday there were only 188 homes available in Eagle River; 16 of which are not built at this time. That leaves us with just a 2.73 month supply of homes available in Eagle River.  This is not surprising to me as we are seeing many new military personnel moving into the area. 

Also, keep an eye on your calendar.  November 30th is almost here.  If you are a first time home buyer and wish to take advantage of the $8000 tax credit you must close on your new home by November 30th, 2009.  If you have not owned a home within the last two years you may qualify for this tax credit, even if you owned a home before that. Visit the buyers resource section of my website for more information.

If you are thinking about buying a home now may be the time.  Call me and ask the hard questions, I will give you a straight answer.  Next year it may be more expensive and you will not be able to buy what you want.

Eric Bushnell Comment