This rennovated duplex has a main home with 3br/2ba, large living room and plenty of storage. Second 2br/1ba home has a front door that opens onto Tobuk Alley, giving owner and tenant privacy.
Let your tenant buy you a home!
- Install under-cabinet lighting. This simple project is low in cost and leaves a big impact, giving the whole kitchen a beautiful glow. Try LED rope lights that plug into an outlet or battery-operated single lights.
- Clear the counters. This is imperative for sellers. Change out the dish drying rack for a smaller dish drain that fits over one side of the sink.
- Create kitchen zones. For example, set aside space for a “breakfast zone” where the coffeemaker and toaster sits along with a fresh fruit basket and napkins.
- Rethink cabinets. If your clients are considering an update, cabinets that reach the ceiling are an ideal use of space. But if that’s out of the question, clear off the dusty tops and declutter the space so there’s visible storage. Place an indoor, shade-friendly plant to add some life to the space.
- Choose one appliance to update. Consider the kitchen space itself and what would have the most impact. If the kitchen opens into a family room, a quieter new dishwasher could be a game changer for some buyers.
The National Flood Insurance Program (NFIP) provides up to $350,000 of flood insurance coverage where required for a federally backed mortgage in Nome and Kotzebue.
On March 21, 2014 the President signed the Homeowner Flood Insurance Affordability Act of 2014. That Act changes the B-W Act to significantly mitigate the current impact of higher flood insurance rates. This includes eliminating the immediate application of full market-based rates upon the sale of a property or a new policy, limiting annual flood insurance premium rate increases to 18% for primary homes and 18-25% for second homes, directing FEMA to implement new rate tables based on the new Act within 8-16 months, allowing policy holders to receive a refund of premiums already paid in excess of the amount that would be allowed under the new law, allowing new owners to assume a prior owner’s policy at existing rates, providing for properties to be “grandfathered” to retain their flood zone’s rates even when remapped into different flood zones, and phasing in rate increases for newly mapped properties.
CLICK HERE TO SEE NOME HAZARD MITIGATION PLAN. (warning, it’s a rather large PDF file)
Amazing price, this restraunt / brewery is listed for way less than appraised value! With a simple menu of good food, craft beers and a return to the ‘you buy we fly’ service that made Airport Pizza famous, this could be a goldmine in a town that was created by gold-miners!
Folks, if you don’t have your circ pump on already, step away from your computer or phone or tablet….. and turn it on NOW!
It’s ok, go check it, I will wait!
1 – Purchase a home for yourself or purchase a home for your landlord! What you spend on shelter each month is paying for SOMEONE to own a home….let that someone be YOU!
2- A home acts a forced savings program; each payment builds equity; every improvements increases how much profit you will make when you sell. It takes a lot of discipline to put away $500 a month for retirement on top of paying rent!
3- Mortgage interest deduction is an incredible tax deduction.
4- Current interest rates remain low; that means your monthly payment to own a home will in many cases be much less than what it would cost to rent a similar property.
5- You can earn up to $250,000 on the sale of your primary residence and pay no taxes! $500,000 if you are married and filing jointly!
6- Protection against inflation, real estate and gold typically have kept pace with the rate of inflation,
7- Home prices in Nome have an average appreciation of 2.5% annually. A much better rate of return than a savings account!
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.