You know, folks define "luxury" in different ways.  Some think it means lots of money, a zippy computer, a tricked-out TV, others think it means a big house or nifty cars.  Personally, I think one of the last remaining luxuries of the modern age is this:  PRIVACY.  Yep, think about it, how many people can actually go home and enjoy real privacy?  

Well, this quintessential "cabin in the woods" is for those who agree.   On almost 5 high-elevation view acres, this home is not only at the end of a street, its the ONLY home on the street - and surrounded by other larger land parcels too.  Relax on the dazzlingly bright deck and look out over the valley to the mountains beyond, or enjoy yourself while cooking for a few good friends in the fully set-up kitchen complete with under-sink *HOT WATER HEATER and 17 gallon water resevoir* including gravity grey water drainage outdoors.   Dry Cabin?  Not hardly!   This beautifully improved home is a delight for the eyes, spirit and pocketbook...

If you haven't already had a chance, take a look at the virtual tour and see for yourself!ng from the space where your car or truck parks! 

Financing comments:  This property does not have an indoor bathroom or a private septic system, therefore will not qualify for VA/FHA/RD-USDA or other standard conventional & low downpayment government loans.  There are many lenders who regularly loan on this type of property, (which is common here), the most well known being Mt. McKinley Bank who has a long-standing "cabins" loan program.  In fact, this owner easily purchased the home with Mt. McKinley's Cabins "A" program when it was purchased in 2007.   If you have an eye towards ADDING water/septic & bath facilities, then a construction loan may be a good way to do it...  There are also other non-conforming loans that will work if you have excellent credit.  As the owner wishes to be cashed out, it is important to realize that almost all (if not all) of these program will typically require at least 20% downpayment.  Check with your local lender - because as cabins go, this one is dandy and any lender familiar with lending on cabins should be happy to do so!

Drive-By Directions: #1: Chena Ridge, R on Isberg, L on Cripple Creek, go past end of pavement, then Left at "For Sale sign w/arrow" about 0.7 to 0.9 miles after pavement ends.   Note: There is no street sign that says "Strix".  Follow road to end, plenty of turnaround space at end. 

It's easy for pre-qualified buyers to set up a showing appointment with virtually no advance notice.  Just call your REALTOR/Buyer's Representative, the showing instructions for them are available in the MLS. No REALTOR of your own?...just contact Lori at 347-7244, and she will be happy to assist you.

You can view, download or print 24/7 extensive information regarding this home including disclosures, utility history, survey, & more.  Just click on the link above that says "Disclosures" or the red link below. 

Thank you for your interest,

Lori Price, Owner/Broker, LookwithLori, Inc.

Just what the doctor ordered!  Secluded cottage in a private fully wooded setting on two acres.  No garage, but endless possibilities to build one (or add-on!).... This is a happy haven, with woodstove set-up, open kitchen, french doors to the majorly re-built deck, tongue & groove walls & vaulted ceilings, oversized master bedroom, extra large bathroom, and a tidy and BIG crawlspace for "stuff" within the entirely poured concrete foundation.  Bonus:  June 7, 2010 passing wastewater system test means you don't have to be on pins and needles as to whether or not large scale septic repairs are going to disrupt your plans to buy at the last minute!

Curious about keeping animals?  Yes, the zoning (Gu-1) and lack of covenants should allow horses as well as kennels, not to mention all the other personal property freedoms (like farm animals, businesses, & more) that this combination of zoning & no covenants permits.

Operating Costs/Energy Efficiency: With a 6-7 year fuel history of UNDER 70 gallons/month even BEFORE the 4 star energy rating and brand new boiler in the fall of '09..., you can bet that you will be paying a LOT Less than everyone else you know with bigger houses and old heating systems!  *Full utility histories available in the disclosure package...*  Add to that the high flow rate private well, (reportedly over 7gallons/minute!) and you'll be sitting pretty while everyone else is hassling with hauling water or paying high sums for delivered water for their holding tanks.  This well alone can save an average buyer between roughly $80 and $150 (or more) on automatically delivered water each month.   So that means that this home at $172,500 will make your wallet feel about the same as buying a home for $150,500-$162,500 that has a water holding tank!

Financing comments:  This property is in great financing condition and should easily qualify for your choice of ANY loan program(s) including: conventional or government (FHA/VA) loans, as well as AHFC (Alaska Housing Finance Corporation) loans like first time homebuyer or veterans mortgage preference, or interest rate reduction for lower income borrowers - AND if there is funding available it should also fall within the approved area for RD (USDA) Rural Development Loans as well as Fairbanks Neighborhood Housing loan & grant programs!  What more could you ask for?.... oh yes, how about:

For those who place the QUALITY of a home over just its size, this is sure to be a perfect fit!  Not every family will be comfortable in this 2 bedroom forest cottage - but for those that are this home offers tons of REAL wood accents including windows (none of that white vinyl here!), 6 panel doors, closets & man doors, real oak cabinets & countertop edging - not to mention lower maintenance metal roofing, recent and nicely appointed outdoor shed w/shelving & locking hasp, larger closet space in both bedrooms, an ample arctic entry for all your seasonal everyday "gear".

And for those who enjoy the great INDOORS: Catch up with your family or guests while working in the open kitchen without feeling cut off.  Meanwhile you can also enjoy the island based Jenn-Aire Range/Oven for all your cooking creations and forget those clunky overhead range hoods - Jenn Aires are vented down through the stove!  Maybe you'll just bask in the sun streaming through the south facing double glass deck doors while you sit and sip coffee at your dining room table... or do you have a computer-expert (or Gamer) in your household?  No problem--current owner enjoys high speed web access  (DSL).

With a 4-star energy rating from just this spring and quicker-than-you think commute on easy paved roads to Downtown Fairbanks or UAF/West Side --this home really stands out especially when you add the superior attention to design detail and materials at the time of construction.

If you haven't already had a chance, take a look at the virtual tour above for all these things described above and more!

Think you'd like a new(er) home?  Think again:  feel more secure knowing that this home has plenty of background to give you have an established track record of utilities - yet a BRAND NEW BOILER, not to mention a long  history of structural stability and the obvious test of time.  Landscaping has had a chance to mature, and this home has gone through any number of tough Fairbanks winters with flying colors (none of which you have with a "new" home). 

Drive-By Directions: Steese Highway heading North, Right on Chena Hot Springs Road.  Go about 6 miles and you'll pass Nordale on your right.  Take the nexst Left, which is Risse (JUST after Nordale).  3rd driveway on the right.  Look for signs which will be installed Tuesday afternoon 6/8/10.

*NOTE* this home is occupied, and showings are by appointment ONLY through your Realtor or Lori.   As the home can easily be seen from Risse Road, please do NOT enter the driveway more than just enough to turn around. On behalf of the occupants, thank you for your consideration.

It's easy for pre-qualified buyers to set up a pre-arranged showing appointment with day-before notice.  Just call your REALTOR/Buyer's Representative, the showing instructions for them are available in the MLS. No REALTOR of your own?...just contact Lori at 347-7244, and she will be happy to assist you.

If the home is still in ACTIVE *status*...You can view, download or print 24/7 extensive information regarding this home including disclosures, utility history, survey, & more.  Just click on the link above that says "Disclosures" or the red link below.  In addition to the information currently posted, there is also more  information from the time of purchase which is available by request to parties interested in writing an offer to purchase.

One of these types of loans was a USDA (also locally called an "RD" or Rural Development loan out of old habit) that concentrates on homes a certain distance from urban centers--with some other requirements as well.  Now, every loan presents particular advantages and disadvantages - that's a whole other blog topic entirely - but the point of this is that I did some VERY careful checking only later to have the seller's realtor told via a 2nd local lender that 'per USDA' for reasons other than location this home did not qualify.  While I won't bore you with why right here--it was needless to say a let down.

Flashforward, 2 or 3 weeks later and another buyer-client of mine is exploring the same options (two loans, one maybe a USDA).  So, because I'm thorough I ask the exact same question of yet a 3rd local lender--and you'll never guess what they said.... Yep, Per USDA (and this lender forwarded me the exact email) the home (the original one we were talking about above) WOULD qualify. 

...USDA went on to say that the rules are understandably a bit confusing, and that they also underwent changes periodically...

The capper?  after all of this, the USDA representative failed to mention that "oh, by the way, our funding runs out day after tomorrow for the foreseeable future, so unless you are almost DONE with a purchase (rather than just starting one as these two clients were) then you're out of luck for probably at least the next few to several months..."

Huh.  Sometimes this business is a serious head-scratcher.

The Moral of this story is that *What You Don't Know CAN Hurt You"...which means it can pay  big to have both a seriously capable, and engaged Lender AND REALTOR both of whom are willing to commit the time & the effort to dig-dig-dig to get to the bottom of things.  If you have those, then if it can be discovered...between the two, they can usually get to the bottom of it.

*Real Estate Settlement Procedures Act

Lisa is looking for a 1/1+ bedroom home, fully plumbed. Small is good IF it has a functional floor plan. Low-land areas w/permafrost soils ok, if foundation was designed for it. N/NW/SW Rural areas preferred. If the "bones" are good, some cosmetic work is fine. Up to $170,000 ish.

For Sale By Owner's Welcome!

In case you weren't aware, most short sales have a TERRIBLE success rate.  Typically the failure rate can be mainly due to inexperience on all fronts, procastination/delays on the parts of lenders, and lack of cooperation on the part of the sellers. A few of the minimum requirements to even be considered under these new guidelines are:

*You have to live in the home your trying to short sale;
*You have to be behind on your payments or close to defaulting;
*You had to close on the loan BEFORE 1/1/09 (for no more than $729,750)
*Your total monthly mortgage payment must be more than 31% of your before tax income.  (Why? it appears that more and more folks are doing "strategic" short sales/defaults where they could actually pay the difference if they wanted to). 

This plan also commits specific amounts of compensation payments to the involved parties including the borrowers, loan servicers, 2nd mortgage holders and more.   More good news: owners who complete a short sale under these guidelines have to be "fully released" from future liability/responsibility for the debt...

Some of the long-time advantages of this program, which have NOT changed is that they rely a lot less on just a credit score when deciding to approve a loan.  This is great news for the many responsible home-buyers who have been in a bit of a pinch lately and may not have the AA credit rating they once did.  It also offers more options to the self-employed, and even allows family & other FHA-approved sources (like the seller to a limited degree) to help the buyer's out with some of the costs of purchase.  And now that most reasonable options for zero-down-payment loans (except the VA loan, which not everyone can get) have all but disappeared, the minimum FHA 3.5% down-payment looks a lot better than 5%, which is the minimum in many cases with conventional loans.

Recently FHA has also gotten a lot more competitive with conventional loan programs in interest rate (sometimes even LOWER) who (buyer or seller) can pay for what costs and the amount of purchase fees & costs in general. As a result the # of FHA loans has grown enormously in the past two years.

And don't forget, FHA also has a some FAN-TAB-U-LOUS  (much more quick and simple) home improvement loans, as well as options for refinancing (as well as refinancing that involves withdrawing some cash from the equity in your home up to a certain %). 

Just a note:  if you are looking for an FHA loan, they still have slightly different requirements that can change often & quickly as the government streamlines so it pays to make sure the loan officer you are working with not only knows but has done several, and recently.  Also, most lenders say they 'can' do an FHA, but its wiser to make sure the lender is "directly endorsed by FHA".  Don't worry they'll know what that means--all it means to you is that they handle the entire loan processing themselves instead of sending it out.

*FHA=Federal Housing Administration

Located on Chena Ridge, close to UAF and other west-side activities, this sunny 5 star built 2+ Bedroom home sits on two acres and is surrounded by trees.    Sustainable yard size, plenty of parking (for guests AND toys), several garden box locations, and already partially cleared for improved forest-fire saftey, this home was built by Wakefield Builders and lovingly cared for by its current owner. 

Enjoy private well upgrades, a huge lower level family room (or use the whole level as a master suite) recent interior paint & exterior deck refinishing, lower level radiant heat via a well maintained boiler system - and great tasting well water that hasn't required any softening or conditioning!

If you haven't already had a chance, take a look at the virtual tour above for these things and more!

-Sunny corner lot with enormous south-facing deck great for relaxing or entertaining friends and family.

-Flexible floor plan provides either two bedrooms upstairs plus a large multi-purpose family room downstairs OR use one of the upstairs rooms as an office and turn the large lower level into your own Master Suite! 

-Oversize single car garage, provides lots of tinkering & storage space without borrowing from the space where your car or truck parks! 

Financing comments:  This property should easily qualify for your choice of any conventional or government loans, as well as AHFC (Alaska Housing Finance Corporation) loans, and due to its location may also qualify for RD (USDA Rural Development) home financing - which offers those who qualify a zero-downpayment purchase option!

Drive-By Directions: Chena Pump Road, R on Roland, Left on West Chena Hills Drive (at the "T").  Follow around (it is quite a ways).  Marissa will sneak up on your on the Right.  Turn R onto Marissa and then an *immediate* right turn into the driveway. 

It's easy for pre-qualified buyers to set up a showing appointment with virtually no advance notice.  Just call your REALTOR/Buyer's Representative, the showing instructions for them are available in the MLS. No REALTOR of your own?...just contact Lori at 347-7244, and she will be happy to assist you.

You can view, download or print 24/7 extensive information regarding this home including disclosures, utility history, survey, & more.  Just click on the link above that says "Disclosures" or the red link below.  In addition to the information currently posted, there is also more  information from the time of purchase which is available by request to parties interested in writing an offer to purchase.

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