Glacier City Real Estate News 1st Quarter 2020

Forty-eighth edition, April 2020

Glacier City Real Estate News 1st Quarter 2020 Property Sales Report Girdwood / Turnagain Arm January 1 - March 31, 2020

!Broker Report 1st Quarter 2020

Seven homes, six condos and no vacant land sold in the Girdwood area from January 1st through March 31st, 2020.

!Homes-

Ll9 B1 Alpine View Estates Ph 2 is a new construction home, which was closed in MLS with very few details. MGJ Building Group is the builder. They have built several new homes in the area in the last few years as well as the new 4plex condo building on Taos Road that was finished in the fall of 2019.

263 Davos Road is an estate sale sold in “as is” condition. This rather rustic cabin is desirable from the standpoint of having a great lot and location some would consider within walking distance to the mountain. 242 Hottentot Mine Road is another older cabin sold in “as is” condition. This property features a loft bedroom, wood stove and Rinnai natural gas heater. It is located on a flat lot with a horseshoe driveway and gets a ton of sunlight. 183 Timberline Drive was recently remodeled including new bamboo flooring and carpet throughout, custom kitchen, bathrooms and new gas fireplace.

This home also has a nice lot in that two bedroom apartment with the home is setback from the road kitchen, laundr y and private allowing for less dust in the summer entrance. It also features a three car as well as road noise. 228 Alpine garage (always a plus for a shop or Meadows Avenue is a well toy storage). These 7 homes sold for constructed home with a concrete an average of 104% of their last foundation and 2x8 framing. active list price with an average of Features include an arctic entry, 32 days on market. wood stove, wrap-around deck, large bay windows and more. On Condos - 330 Hightower Road the outside, the lot is nicely treed #B202 and #B305 along with 350 and has a small creek running Hightower Road #C203 (Snow through it. 1853 Alyeska Highway Raven Condos) are located on the is one of two homes on Morning Glacier Creek side of the road just D e w D r ive b u i l t by l o c a l past the post office These construction company Turnagain apartment style condos have Design & Build. It is setback from become increasingly popular over Alyeska Highway and enjoys a fair amount of privacy.

Features include an open concept living room, dining area and kitchen along with a large laundry room. This L19 B1 Alpine View Estates 263 Davos Road well-built home features a guest suite with kitchenette as well as a large covered carport. 110 Barren Avenue is located in what we locals often call “Cabana Land”. 242 Hottentot Mine 183 Timberline Dr. The home features vaulted ceilings in the open main living area, gas fireplace, granite countertops, kitchen Viking range and a wraparound deck. Features you 228 Alpine Meadows 1853 Alyeska Highway don’t always see include a

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Property Address Girdwood, AK

Last Active List Price

Days on Market

Bed / Bath

Lot / Res SF

L19 B1 Alpine View Estates Ph 2

$778,650

0

No data provided

No data provided

263 Davos Road

$315,000

21

0/1

12,270 / 690

242 Hottentot Mine Road

$265,000

3

2/1

13,902 / 580

183 Timberline Drive

$510,000

3

3/2

14,018 / 1,434

228 Alpine Meadows Avenue

$599,000

5

3 / 2.5

15,861 / 2,127

1853 Alyeska Highway

$729,000

272

4 / 3.5

20,482 / 2,552

110 Barren Avenue

$679,500

2

5/3

12,462 / 2,756

330 Hightower Rd. B305

$340,000

89

2/2

Condo / 1,099

330 Hightower Rd. B202

$350,000

5

2/2

Condo / 1,099

350 Hightower Rd. C203

$354,900

16

2/2

Condo / 990

195 Garmisch Road 10D

$465,000

48

2/2

Condo / 1,077

164 Taos Road #01

$649,900

283

3/2

Condo / 1,309

314 Crystal Mountain Rd. #107

$330,000

23

1/1

Condo / 866

110 Barren Ave.

330 Hightower B305

330 Hightower B202

350 Hightower C203

195 Garmisch 10D

164 Taos Rd. #01

314 Crystal Mtn. 107

Glacier City Realty, Inc. 907-783-1910 | info@glaciercityrealty.com

Sam Daniel, Broker 907-227-4626 | Loretta Daniel, Realtor 907-227-4142 Rebecca Reichlin, Associate Broker 907-441-8125 | Jackie Collins, Realtor 907-947-0494

PO Box 550 Girdwood, AK 99587

Girdwood school addition !

September 2014

Glacier City Realty - Honesty and Integrity in everything we do the years due to having a great floor plan, private deck, an elevator and common garage parking on the ground floor. There is a mix of full time, seasonal and nightly rentals in this association. 164 Taos Road #1 (Taos Condos) - This is one of two stand alone units within this association. It had been through a recent near total remodel in 2017.

It also features a brand new heating system and on demand hot water heater. 195 Garmisch Road #10D (Snowbird Condos) remains a popular association located near the Daylodge. This unit has been upgraded and includes a third floor loft. It’s amazing the diversity of floor plans in this association and how creative some owners have become on the interior. This one sold turnkey furnished. 314 Crystal Mountain Road #107 (Timberline Condos) this condo was entered in MLS as a one bedroom unit when I believe it’s actually a studio condo (no true bedroom). The Timberline condos are always popular because they are close to the mountain, typically quiet with good parking and nice common area amenities. It is perfect for the outdoor enthusiast mostly interested in a place to sleep and eat. Features include a private deck, fireplace and an accordion divider door for separation of the kitchen area from the living room.

These units also have larger than usual closets for storage. Of these 6 condos, only 5 are included in the stats since the Snowbird condo has a non disclosed price. The remaining 5 condos sold for an average of 98% of their last active list price after an average of 23 days on market.

Vacant Land Sales - There were no vacant land sales through MLS this quarter or last quarter.

Broker Summary - It was an interesting mix of sales this quarter.

Rarely do we get the small starter cabins coming on the market anymore so to have two sell in one quarter was rare. We are seeing larg er homes (by Girdwood standards) with garages to be in high demand. 110 Barren Avenue, for example, had eight offers and was only on the market for two days. The condos that sold were a mix of what we typically see this time of year. One of the big drivers, at least at the beginning of the quarter, was the epic amount of snow we received. The real estate market always benefits when Girdwood valley and Alyeska Resort have an epic year for snow fall.

COVID-19 pandemic and the local real estate market- Since Municipal and State government began mandating stay at home, social distancing and other health measures, we are still seeing sales, though in new and innovative ways.

In the last two weeks we have assisted Buyers with Girdwood purchases including one that involved multiple offers. Checking the hot sheet on MLS, I see new listings coming online in Anchorage, Eagle River and the valley, with plenty of pending sales and plenty of closings.

How can this be? The precipitous drop in the stock market has had a reciprocal effect on interest rates with rates having gone as low as 2.5% and at the time this was written rates are around the 3-4% range.

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Real Estate is High Tech/Low Contact - Real estate professionals, contractors, appraisers, buyers/ sellers, home inspectors and title companies are all adapting to the social distancing measures. Title companies are bringing closing documents to Buyers/Sellers in their cars to sign in some instances, licensees are showing property through real time streaming presentations on Zoom, FaceTime and other platforms and we are seeing less showings of tenant or seller occupied properties.

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Will real estate business be allowed to continue to function during the COVID-19 pandemic? The direction we have received thus far from state and local government is that as long as we can practice social distancing and minimize person-to-person d i r e c t i n t e r a c t i o n w h e n e ve r possible, we may continue to operate.

!What will the future hold ? None

of us know for sure. When it comes to the ever dynamic real estate market, I believe it will not change demonstrably unless the state economy remains stalled through the third quarter. Both Girdwood and Anchorage are driven by a very low inventory of existing homes and vacant land.

That, coupled with great interest rates and more buying power, will help keep the real estate economic engine rolling.

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Be safe out there and call, text or email me if you have questions.

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Sam Daniel, Broker 907-227-4626

samdaniel@glaciercityrealty.com

This sales report is based on information from Alaska MLS, Inc. for 1/1/2020 - 3/31/2020 but not compiled or published by Alaska MLS, Inc. Data maintained by Alaska MLS, Inc. may not reflect all real estate activity. The information used in this publication is copyrighted by Alaska MLS, Inc. 2020 and no portion may be reproduced, redistributed, or retransmitted without the express permission of Alaska MLS, Inc. Further, Alaska MLS, Inc. does not guarantee the accuracy of the information contained herein.