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Although the Anchorage real estate market has declined as a result of the economic recession that began in 2008, the declines are not nearly as large compared to that of the rest of the nation.  Foreclosure rates are up and home sales are down, but many real estate experts still consider Anchorage to have a real estate market filled with prosperity.  However, subprime loans are not considered to be the cause of the economic struggles in Anchorage, but it is rather job security that is the major concern.  Most mortgages that ended in foreclosure were caused by a previous job loss rather than the loan being risky.  Nevertheless, many experts still believe that the Anchorage real estate hasn’t hit bottom yet and most likely won’t be ready for a full rebound until 2010 or most likely 2011.

According to the Anchorage Daily News, Alaska foreclosure rates have risen by 36 percent, but experts are quick to point out that that is only relative, with 0.88 percent being the percentage of homes actually foreclosed on.  0.88 percent ranks Alaska with the third lowest foreclosure rate, compared to the 7.32 percent foreclosure rate in Florida.  Almost all of the foreclosures were in Anchorage and the most populated areas of the valley.  Currently, real estate experts are unsure of the future of the Anchorage real estate due to the high volatility of the region’s economy.  Job security continues to be the major concern in the area.  So far, home prices have remained stable and declines in employment rates have slowed.  Although signs of bottom have not been verified yet, most experts believe that the real estate in Anchorage won’t fully recover in the near future.

The Anchorage Daily News also reported that the commercial real estate in Anchorage is also faring significantly better than other real estate markets across the nation.  The Anchorage office vacancy rate is only 7 percent, compared to the 12.7 percent posted for the national commercial property vacancy.  The Anchorage retail vacancy is only 4 percent compared to the national average of 7.5 percent.  The industrial vacancy for Anchorage is 3 percent, significantly lower than the 9.6 percent average for the nation.  Although these numbers are high compared relatively to past Anchorage levels, Anchorage has not suffered as much as most other real estate markets throughout the nation.

Real estate experts feel that the light at the end of the tunnel may be visible for the San Francisco real estate market.  After its struggles began back in 2007, and worsened as a result of the recession of 2008, the Bay Area real estate has been plagued by median prices and home sales well below peak levels experienced in prior years.  After struggling to show any signs of improvement over the past year, San Francisco is beginning to post improvements in the market with the first rise in median home prices since 2007 and slight increases in home sales.  Many real estate experts believe that the real estate in San Francisco has hit bottom and is poised to rebound for a full recovery.

According to Bloomberg, realtors in San Francisco have posted an increase in Bay Area home prices for the first time since 2007, primarily due to the smaller number of foreclosed or distressed properties sold.  The median price for new and resale houses and condos in San Francisco increased 6.8 percent from September of 2009 and 4 percent from October of 2008 to $390,000.  The number of Bay Area homes sold also rose 4.2 percent to about 8,000.  Realtors said that about 36 percent of home sales were priced over $500,000, up from the 23 percent seen in January of this year.  Foreclosures also made up only 32 percent of all sales, the lowest since June 2008, which is the primary reason for the increase in the median home price.

DQNews.com also reported the improvements of the San Francisco real estate market, offering hope for the near future of the San Francisco real estate market. DQNews.com commented that November marked the first month that the rise in the median price resulted in a year over year gain, which was the first year over year gain since November 2007.  Jumbo loans, which are mortgages above $417,000 also increased to make up 30.1 percent of all home sales made in the previous month, which was up 29.6 percent from September and up 25.9 percent from a year ago, suggesting that the credit crisis is coming to an end.

Sacramento is another choice and is the capital of the state and the seat of Sacramento County.  There is a population around 500,000 people. In addition to being a very important city, it is also considered a cultural and economic center. It has been voted one of the 10 best regions for living anywhere in the country.

If you are interested in a Sacramento Real Estate then contact a real estate broker.