January 2018 Newsletter
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Inside this Home Delivery:
Rebuilding after the quake
Total dividend to state exceeds $2 billion
Brian's road to homeownership
Assessment reveals overcrowding and lack of senior housing
Earthquake recovery
Lender of the week: Joseph Hegedus
HomeChoice homebuyer education: class schedule
Waitlist changes
Featured video: Catching up with Quinn
Alaska Housing's 2018 annual report
Letter from CEO/Executive Director, Bryan Butcher
Rebuilding after the quake
At this time of the year a Happy New Year’s wish is customary. For those affected by the 7.0 earthquake seven weeks ago the wish might ring hollow when having to deal with the aftermath of a damaged or destroyed home. The damage isn’t just confined to structures. It shakes up humans as well.
I wasn’t in the state for the November earthquake, nor did I experience the 1964 Good Friday earthquake at 9.2, the strongest ever recorded in North America. But my parents Sylvia and David were living in Spenard. The Good Friday earthquake changed my mom. Here’s what she told Victoria Petersen for The Spenardian, a neighborhood magazine in Anchorage, last spring:
Brian's road to homeownership
Millennials and first-time homebuyers make up half of Alaska Housing’s more than 15,000 mortgages. Brian Remley from Wasilla is one of them.
The 34-year-old bought his first home in 2018 after taking Alaska Housing’s HomeChoice™ class. As a first-time homebuyer, Brian wanted as much information as possible.
Total dividend to state exceeds $2 billion
The State of Alaska initially capitalized Alaska Housing with $1 billion. We’re pleased to report that total dividends calculated to date, now exceed $2 billion. The initial investment has been paid back, plus some.
While we work to fulfill our mission of access to safe, quality and affordable housing, details of our performance last fiscal year include:
- The value of our mortgage portfolio rose 7.4 percent to $3.1 billion while the percentage of bonds in the portfolio increased 8.9 percent to $2.2 billion.
- We issued $463.4 million in taxable and tax-exempt bonds during FY18, the largest amount in recent years.
- National rating agencies continued to assess Alaska Housing as one of the strongest housing finance agencies in the country.
Assessment reveals overcrowding and lack of senior housing
Alaska Housing released its 2018 Housing Assessment that is based on available housing data. Highlights include:
- Of 251,678 occupied homes, more than 12,000 lack complete kitchens and/or plumbing.
- As Alaskans age, demand for senior facility beds increase. Demand is expected to double in the next 12 years. To keep up, 318 beds must be added annually.
- As Alaska’s population ages and in some cases, shifts, construction in some communities is insufficient to maintain pace.
Earthquake recovery:
Condo loans
Homeowner associations may be able to access a loan to make common-area improvements related to health and safety of residents or the structural integrity of the buildings. Examples include roof or siding replacement, window replacement and driveway improvements. More information, including a checklist and contact information is here.
Approved lenders
For more details about Alaska Housing’s renovation loan options you can contact our approved lending partners here.
Renovation Loans
To assist homeowners with earthquake-damaged homes, Alaska Housing has increased the loan amount for the refinance renovation option to $200,000. With an additional 10 percent in contingency funding, the loan amount may total up to $220,000. For more details visit Alaska Housing’s seller services memo.
HomeChoice™ schedule
AHFC offers a free class to help prospective homebuyers work their way through the decisions and steps that buying a home can entail.
Waitlist changes
Public housing is accepting applications in Anchorage. Click here for more information and to submit an application.
Housing Choice Voucher and Senior Housing waitlists are open in Seward, Soldotna and Homer.
Featured video:
Catching up with Quinn
Do you remember Quinn? Quinn suffered from a stroke in 2014 and was unable to live independently. Four years later and with the help of NeighborWorks Alaska and DHSS, Quinn moved into her own apartment. We caught up with her before the holidays to see how she is adjusting.
Feedback or news you'd like to share? Email us at newsdesk@ahfc.us
