While it isn’t as available as it once was, there are still some financing options that do cover 100% of the purchase price of the home!
- VA offers 100% financing with NO DOWN, no PMI (private mortgage insurance), closing costs can be paid by the seller.
- USDA Guaranteed Rural offers 100% financing, fixed rates, gift funds allowed for closing costs and allows for new construction.
In addition, purchasing a Nome Sweet Home requires much less than the 20% downpayment required in the lower 48. The FHA downpayment is only 3.5%, and the HUD184 for Alaska Natives is typically only 2.25% down.
3pm-5pm @ 110 Warren Place – A 4br/3ba with incredible finish details and materials.
Hope to see you there! Call 304-1215 for more information!
You won’t always make money on the sale of a home.
Home sellers shouldn’t always assume they’ll walk away with a profit. While Nome has a fairly stable market, Sellers’ return greatly depends on the condition of the home at the time of sale and what and how much they paid for the home when they purchased it, and what recent sales comparables the home is going to be compared to on appraisal.
Pricing your home high to ‘see what you can get’ is a bad idea.
Sellers may be tempted to set a higher price to see if they can actually get it. Overpricing a home from its initial listing isn’t easily fixed by lowering the price. Buyers may presume something is wrong with the home if they see it linger on the market or have multiple price reductions.
Setting a reasonable price point can make you more money in the long run.
Pricing a home on the low end can actually pay off in more that a faster sale. Low-priced homes tend to prompt greater interest among buyers. That could result in a bidding war, which could increase the home’s price way past the listing price. Plus the presence of multiple offers can help validate the sales price in the event of a low appraisal.
Rennovations do not equal return.
Just because you completed a renovation of your kitchen or outdoor deck does not mean you can recoup every dime of that investment at resale. Some renovations may help you to increase your home’s value, such a deck. Sellers, however, rarely will recoup the entire cost from a renovation. Sellers, on average, see a 64 percent return on every dollar they spend on home improvements, according to realtor.com®. And if you had to replace a broken window, or repair plumbing, that typically doesn’t reflect a higher sales price.
Nome Sweet Homes has listings for ocean mining claims and several of our land listings are for patented mining claims – we are here to assist all of Nome’s residents and visitors – if you don’t see what you are looking for, feel free to give one of our agents a call!
This spacious 3br home located on River Street has a simple exterior, but will really wow you with the inside! This home has an incredible ‘flow’…. with dining nooks, walk in closets, separate laundry room and a master suite that includes a Dimond Center style Jacuzzi tub, two separate bath vanities and a stand up shower.
Plenty of room to store the boat, the 4wheeler, the Razor and any other toys you might have on the east and west sides of the house.
When you come to see it, make sure to ask your Realtor about the foundation…. it’s of a caliber you won’t see under home in Nome.
One of the documents that is required by the State of Alaska in any property transaction is a property disclosure statement. One more packet of paper, I can hear you moan, but this is a very important one for both buyer and seller.
As a seller, you should give as much detail as possible about repairs, remodels and age of mechanicals. Why? Quite simply so that you have a defense if something repeats itself. By disclosing a repair item, you are giving your buyer the opportunity to either accept it or not. Failure to disclose a material defect in a house is one of the most common (and costly!) causes of after sale lawsuit.
If you are buying a home, this should answer a lot of questions. Is the toilet prone to freeze ups? Does the roof leak? Does the boiler shut off in windstorms? Is the refrigerator or dishwasher included in the sale?
Failure to actually read these documents can be very costly. And waiving these documents are foolish for everyone involved.
If you are a seller and would like a blank disclosure statement I would be happy to provide you with one, even if you are trying to sell your home yourself. Give me a call at 907-304-2871!
Own 2.85 acres just 4 miles out the Beam Road.
1 Bedroom / 1 Bathroom
2 workshops with electricity
Large green house
Possible owner finance!
Join us on Monday the 14th if you would like to view this property.