Kenai Homes

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1008 Crow Court Kenai Alaska 99611: Home For Sale

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A well cared for Kenai home for sale with new paint and carpet through out. New kitchen cabinet faces have been ordered and are to be installed in January.  This Kenai real estate is conveniently located across the street from the Kenai Middle School. This Kenai property is well appointed with three bedrooms, two and half baths, two car garage and 1,652 square feet of living space.

Kenai Home For sale

The owners have turned on the shine for this home. It is bright, clean and has a wooded back yard perfect for barbecues. The design is superb with space for everyone. The entry is adjacent to a enclosed den with a large bay windows overlook the front yard. The kitchen and dining area is in the center of the home with a living room along the back of the home. The second story has three bedrooms, two share a hall bath and the master has a well planned master bath and closet. The bath is divided between a vanity with double sink and a bath/show and toilet in it’s own room.

Kenai Real Estate For Sale

The neighborhood is well establish with mature homes and new construction in the area. Located a short drive or walk from Walmart and Safeway grocery shopping after work is easy. The local high school, middle school and elementary are within a mile of the home. Neighborhood highlights include easy access to the bike path along the Spur highway. You will be within walking distance to the Oilers baseball field and Kenai Golf Course.

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2013 Soldotna Real Estate Market Statistics: November Report

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The real estate market in Soldotna has been awesome for sellers and buyers in 2013. The number of Soldotna homes for sale grew from 139 to 150 in 2013 an 8% increase, but the number of homes sold is up 40% with 86 sales.

Soldotna Home For Sale

This market report and real estate statistics are for the city of Soldotna and its MLS area for the time period of January 1st to November 30th 2012 to 2013.  This information is considered accurate but is not guaranteed and is subject to change.

Active Listings Inventory Growth: 8%

 

2012 139 Listings
2013 150 Listings

 

The Soldotna housing inventory increased by 8% this year. The driving force is the continued housing recovery, low interest rates and pent up demand for homes.

New Listings Growth: 25%

 

2012 138 New Listings
2013 172 New Listings

 

The number of new Soldotna homes for sale increased by 25% in 2013.  The market is benefiting from employee transfers, investor sales and a healthy move up market.

Pending Listings Growth: 44%

 

2012 61 pending listings
2013 88 pending listings

 

Pending Sales in Soldotna follow the trend in inventory and new listing growth.

Number of Homes Sold Growth: 41%

 

2012 61 sold homes
2013 86 sold homes

 

Although the inventory increased by 8%, the number of homes sold has only increased by 41 percent in Soldotna.

Average Sales Price Growth: 4%

 

2012 $185,477
2013 $193,552

 

The average sales price for Soldotna has increased by four percent. A healthy increase driven by record low interest rates and a strong local economy. The Kenai River real estate sales have recovered but helping boost the average sales price.

Sales as a Percent of List Price Growth: 1.4%

 

2012 94.56% of list price
2013 95.91% of list price

 

The percent of a home’s sales price to it’s list price increased by 1.4 percent this year from 94.56% in 2012 to 95.91% in 2013. Given the  increase in the average sales price and inventory, it is interesting to see a balanced market where inventory is meeting buyer demand. The homes that are priced at market value are selling faster than in 2012.

Average Days On Market

 

2012 days on market 196
2012 days on market 139

 

A healthy market turns over it’s housing inventory quickly and the average time it took to sell a home dropped by 57 days in 2013.

 

2013 is a good year to sell your home and not a bad year to buy either. Interest rates are still historically low and the inventory of homes to choose from has grown. I recommend not waiting around. Homes are selling faster than in the past if they are priced appropriately.

 

If you would like to learn more about buying or selling your home contact Glenda Feeken at RE/MAX today. 907 252 2743.

2013 Kenai Real Estate Market Statistics: November Report

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The real estate market in Kenai continues to be strong with a six percent increase in sales year to date. Surprisingly the sales growth is down from mid year tally of a 28% increase. Kenai was rocking in the first half of 2013. The future looks bright with a ten percent growth in the number of pending sales from last November.

 

This market report and real estate statistics are for the city of Kenai and its MLS area for the time period of January 1st to November 21st 2012 to 2013.  This information is considered accurate but is not guaranteed and is subject to change.

Active Listings Inventory Growth: 15%

 

2012 238 Listings
2013 273 Listings

 

The Kenai housing inventory increased by 15% this year. The driving force is the continued housing recovery and major shifts in the local oil and gas industry.

New Listings Growth: 25%

 

2012 212 New Listings
2013 265 New Listings

 

The number of new Kenai homes for sale increased by 25% in 2013. A large portion of the new listings were related to the bulk of employee transfers into and out of the area by Marathon and Hillcorp after the sale of the Cook Inlet Oil and Gas rights.

Pending Listings Growth: 10%

 

2012 98 pending listings
2013 108 pending listings

 

Pending Sales in Kenai follow the trend in inventory and new listing growth.

Number of Homes Sold Growth: 6%

 

2012 100 sold homes
2013 106 sold homes

 

Although the inventory increased by 25%, the number of homes sold has only increase by six percent in Kenai.

Average Sales Price Growth: 13%

 

2012 $160,583
2013 $181,535

 

The average sales price for Kenai has increased by thirteen percent.A healthy increase driven by record low interest rates and a strong local economy.

Percent of List Price Growth: -2%

 

2012 97% of list price
2013 95% of list price

 

The percent of a home’s sales price to it’s list price dropped by two percent this year from 97% in 2012 to 95% in 2013. Given the large increase in the average sales price, this drop is likely caused by aggressive speculation of sellers in setting their list price and the ability of the buyers to demand a more realistic value.

Average Days On Market

 

2012 days on market 171
2012 days on market 105

 

A healthy market turns over it’s housing inventory quickly and the average time it took to sell a home dropped by 66 days in 2013.

 

2013 is a good year to sell your home and not a bad year to buy either. Interest rate are still historically low and the inventory of homes to choose from has grown. I will add not to wait around. Homes are selling faster than in the past if they are priced appropriately.  The second half of 2013 may be a different story as interest rates climb and the inventory continues to shrink.

 

If you would like to learn more about buying or selling your home contact Glenda Feeken at RE/MAX today. 907 252 2743.

Who’s Paying Your Mortgage?

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Who Pays Your MortgageAs a Kenai homeowner, you obviously pay for your mortgage but as an investor, your tenant does.  Equity build-up is a significant benefit of mortgaged Kenai rental property.  As the investor collects rent and pays expenses, the principal amount of the loan is reduced which increases the equity in the property.  Over time, the tenant pays for the property to the benefit of the investor.
 
Equity build-up occurs with normal amortization as the loan is paid down.  It can be accelerated by making additional contributions to the principal each month along with the normal payment.  Some investors consider this a good use of the cash flows because interest rates on savings accounts and certificates of deposits are much lower than their mortgage rate.
 
In the example below, is a hypothetical rental with a purchase price of $125,000 with 80% loan-to-value mortgage at 4.5% for 30 years compared to a 3.5% for 15 years.  The acquisition costs were estimated at $3,000, the monthly rent is estimated at $1,250 and $4,800 for operating expenses.
 
who pays your mortgage

Notice that both properties have a positive cash flow before tax.  The cash on cash return is the revenue less expenses including debt service divided by the initial investment to acquire the property.  The 15 year mortgage will obviously have a smaller cash flow and lower cash on cash but the equity build-up is significantly higher.

 

If the goal of the investor is to pay off the property to provide the highest possible cash flow at a later date, a shorter term mortgage with a lower interest rate will help them achieve that.  A simple definition of an investment is to put away today so you’ll have more tomorrow.  Sacrificing cash flow now, during an investor’s earning years, is a reasonable expectation to provide more cash flow in the future when it might be needed more.

 

Contact me if you’d like to explore rental property opportunities.

About Team Feeken

Full time professional real estate agency serving the needs of Kenai, Soldotna, North Kenai, Sterling, Kenai River and surrounding areas for over 39 years. Specializing in residential homes for sale and commercial property. … Read More

Get In Touch

Glenda Feeken, Jared Potter with RE/MAX of the Peninsula
10767 Kenai Spur Hwy Ste A, Kenai, AK 99611
Office: 907.283.5888 • Cell: 907.252.2743
Site: www.kenaihomes.com