Glacier City Real Estate News 2nd Quarter 2021

Glacier City Real Estate News Fifty third edition, July 2021 2nd Quarter 2021 Property Sales Report Girdwood / Turnagain Arm April 1 - June 30, 2021

Nine homes, four condos and four vacant land sales took place in the Girdwood area March 1st through June 30th, 2021. New records were set this quarter in residential sales!

!Homes - 335 Echo Ridge Drive is one of those tall castle looking homes on the downhill side of Echo Ridge.

Accessed primarily by a walkway, this three story structure has great metal siding and lines. Since this was a STATS only sale, the property likely had a Buyer and Seller that had agreed on a purchase p r i c e a n d i n vo l ve d r e a l e s t a t e professionals to facilitate the process.

298 Main Street is and will probably be the “best value” sale (in my professional opinion) this year in Girdwood. Built by Mike Tumey, this large Old Girdwood home sold for less than $500K with a spacious open living room, huge storage areas, guest loft area and some of the nicest gardens in all of Girdwood. Both Sellers and Buyers were local residents.

905 Alyeska Highway is a three-story log home which had been extensively remodeled and is located on a nicely appointed lot. The interior finishes are nice. Lots of stairs for less than 1,300 Property Address Girdwood, AK

square feet! 162 Banff Circle is located included an ADU (Accessory Dwelling on a little known side street cul-de-sac in Unit). Interior finishes to the kitchen, Girdwood. It is perched on a hill and sauna and master bedroom were nice. has been remodeled since the last sale.

Exterior finishes were basic and a new Features include an open kitchen and owner will likely create some equity by living room area, vaulted ceilings and a finishing out the exterior in a manner new front deck. There were 6 offers on more conducive to life in a northern the property. 239 Timberline Drive rainforest. 718 Vail Drive is the was a FSBO sale (For Sale By Owner) highest selling MLS residential sale which listed at over a million dollars and in Girdwood’s history! The home is sold for over a million with a longer sleek, modern and Scandinavian in than average time on market. *More on appearance with finer finishes and many the FSBO market later in my forecast for the of the amenities in a ski home you future. It has an open floor plan with would see in Aspen or Vail. Truly a unique finishes which may have added stunning property and similar to many to the time it took to sell. 312 Saint of the newer homes we see being built Johann Loop is a newer construction in the last 5-10 years. 172 Carlina home on a large lot located on a high Drive is a well-designed and improved knoll on the uphill side of the road. Built by Turnagain Design & Build (Kevin McDermott and crew) it was designed as a second home and served as a nightly rental for several years. The open 335 Echo Ridge 298 Main Street floor plan on the top floor with flying trusses which eliminated the need for interior support columns to the vaulted ceilings made for a favorable impression and feel to the property. 174 Alta Drive is another unique property 162 Banff Circle 905 Alyeska Hwy. featuring some of the best unobstructed views of Mount Alyeska in Girdwood and

Last Active List Price

Days on Market

Bed / Bath

Res / Lot SF

335 Echo Ridge Drive

$589,000

9

2 / 1.5

1,390 / 13,504

298 Main Street

$499,500

89

2 / 2.5

2,662 / 6,187

905 Alyeska Highway

$399,000

7

3 / 1.75

1,275 / 19,554

162 Banff Circle

$515,000

1

4/2

2,043 / 10,454

239 Timberline Drive

$1,050,000

217

4 / 2.5

2,988 / 12,718

312 Saint Johann Loop

$989,500

21

4 / 2.75

2,652 / 25,450

174 Alta Drive

$829,500

33

4 / 2.75

2,329 / 21,406

718 Vail Drive

$1,875,000

20

4/4

5,312 / 15,404

172 Carlina Drive

$789,500

3

5/3

2,800 / 16,675

432 Alyeska View Ave. #2

$529,500

3

2 / 1.5

1,411 / Condo

150 Hightower Road #404

$365,000

5

2 / 1.75

1,016 / Condo

150 Hightower Road #402

$230,000

2

1/1

804 / Condo

330 Hightower Road #B204

$375,000

3

2/2

990 / Condo

295 Crow Creek Road

$385,000

203

Vacant Land

0 / 67,082

L3 Alpine View Estates

$250,000

0

Vacant Land

0 / 14,201

L8 Verbier Way

$299,000

7

Vacant Land

0 / 12,306

L5 B22 Higher Terrace

$169,500

2

Vacant Land

0 / 13,500

239 Timberline

312 Saint Johann

174 Alta Drive

718 Vail Drive

172 Carlina Drive

432 Alyeska View #2

150 Hightower #404

150 Hightower #402

330 Hightower #B204

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

Sam Daniel, Broker 907-227-4626 | Loretta Ortiz-Daniel, Realtor 907-227-4142 Rebecca Reichlin, Associate Broker 907-441-8125 | Jackie Collins, Realtor 907-947-0494 | Angela Carswell, Realtor 661-478-3406

PO Box 550 Girdwood, AK 99587

Girdwood school addition !

September 2014

Glacier City Realty - Honesty and Integrity in everything we do upon home. The Sellers made a myriad of improvements prior to the sale including new French drains, resealing the foundation, metal cladding the building, new main deck and an extensive remodel in parts of the interior. It also has a two bedroom apartment downstairs. If the adjoining door is opened, the house walks and talks like a five bedroom home.

These 9 homes sold for an average of 95% of their last active list price after an average of 44 days on market.

!Condos - 432 Alyeska View Ave #2

(Snow Bird Chalet I) This chalet is located below Chair 4 and features a remodeled kitchen & upstairs bath and a timber frame entrance. The Snow Bird Chalet Associations tend to be popular because the dues are low and the fact that they are free standing with no shared walls provides more privacy and are awesome for families with pets. 150 Hightower Road 404 & 402 (Ski View Condos) were separate sales of somewhat similar units. 404 is a two bedroom unit and 402 a one bedroom.

404 was completely remodeled in 2019 with quartz counter tops, stainless appliances, open shelving, a double oven and luxury vinyl planking. 402 had new flooring and paint. 330 Hightower Road #B204 (Snow Raven Condos) is a second floor condo located in a secure building. Amenities include in floor radiant heat, stainless appliances, laminate flooring, large balcony, heated garage and elevator access. These four condos sold for an average of 106% of their last list price after an average of 3 days on market.

!Vacant Land - 295 Crow Creek Road is

a unique property adjacent to the site where Maxine’s once stood. Though there are some wetlands on the parcel, the site is approved as a marijuana retail sales location. It is located near both public water and sewer which stops on Crow Creek Road near the Double Musky Restaurant. Lot 3 Alpine View Estates is likely a non-MLS sale with real estate professionals involved. Lot 8 Verbier

Way is one of the last remaining lots in the subdivision developed by the former owner of Alyeska Resort. It has a developed pad, utilities and is adjacent to Mt. Alyeska. It is located on a paved road and near a developed bike trail. Lot 5 Block 22 Higher Terrace is located on the uphill side of Higher Terrace and is heavily treed. It also has a creek running through it. These four lots sold for an average of 101% of their last active list price after an average of 212 days on market. Three of the four sold in less than a week and all four were cash sales.

!Broker Summary - This was one of the

busier second quarters we’ve had in a while. It is the first time ever that Girdwood saw two sales of homes over a million dollars. Most properties that came on market were sold within the first four to seven days on market with a myriad of Buyer concessions to capture a sale.

These concessions range from higher than list price offers to nominal repair requests and Buyers paying Seller’s closing costs. I’ve heard this tune before - Mike Edgington of the Girdwood Board of Supervisors enjoys crunching the data. By using the Municipal data portal he found there were over 40 non MLS sales in the past year to unrelated entities. Close to 50% of the current sales are happening without the general public being able to make an offer. It is typical to see this upswing in For Sale by Owner (FSBO) transactions when inventory is extremely low. What Sellers base their price on is more speculative than in a MLS sale since they do not have access to sold data.

Alaska is one of 17 nondisclosure states.

The other reoccurring theme I have seen over the years happens when these FSBO Buyers go to sell and have not had the benefit of a licensed professional’s involvement. There may be issues with the property these Sellers were unaware of ranging from zoning to repairs and drainage. So although this newsletter does provide a valuable snapshot of what’s happening in the market, it does not include much of the data. My two

Welcome Angela Carswell to the Glacier City Realty team!

Angela is a courageous leader with a strong passion for collaborating to cultivate success. From helping people find their dream property to leading teams in Alaska’s backcountry for data acquisition. An avid outdoors woman, when not flying tailwheels or volunteering for local aviation organizations, you can find Angela outside! She loves practicing at the range for hunting trips to fill the fridge or hiking with her black Labrador Molly. In every season, Angela truly loves experiencing the beauty of Alaska from the sky!

You can contact Angela via email at angelamarierealtyak@gmail.com or phone at 661-478-3406

!

cents: I believe we would be further ahead to be a disclosure state where everyone knows the sales prices. Then licensees and Realtors can show the value added by their involvement. There is a housing crisis in Girdwood! Local families are being priced out of the market. Not just for sales, but also for rental units. The ever increasing number of nightly rentals has had a huge impact on decreasing the number of available long term rentals.

This shift in long term housing availability creates huge problems for employers and residents alike. In my opinion, it places into jeopardy the future of the community when it comes to a long term resident population that joins the community in their 20’s and 30’s and stays in place until well after their children are grown. A stable, involved population, many of whom do not have children, are the folks who give their time to benefit the community. How to solve this puzzle is something front and center with the community. I am hopeful the Girdwood Board of Supervisors in conjunction with the Municipality of Anchorage can chart a course correction that will help our community to thrive as more than a second home community. The very future of Girdwood is at stake.

!

Sam Daniel, Broker 907-227-4626 samdaniel@glaciercityrealty.com

This sales report is based on information from Alaska MLS, Inc. for 4/1/2021 - 6/30/2021 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. 2021 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.