show notes

Everything is going up in our economy, including housing prices. But people are still finding ways to buy homes in Alaska. The reason why may not be what you think.

We’re going over our 2026 real estate outlook and how it can still be affordable to invest in or buy properties in Alaska.

Commercial Market Recap

1. Starting off, Lottie Michael shares her 2025 recap on commercial real estate. Industrial, office, and retail all had a healthy economic year.
2. She also shared her Walmart story. It took her a few years to sell the building, but now she’ll probably never sell that space again thanks to the new furniture store that is doing so well.
3. National brands are preparing for the market and investing in retail commercial leasing. The restaurant and hotel industries remain strong and continue to see success.

Residential Market Realities

1. Connie Yoshimura is finding the Anchorage housing market a bit boring, but that’s a good thing. It shows the market is healthy and strong.
2. Inventory is low: only 146 residential properties are for sale in a city of over 286,000 people. The limited choices allow homes to sell quickly, typically within 29–32 days.
3. The average closing price is 99.78% of the asking price.

AI’s Influence on Real Estate

1. AI technology is helping real estate photos look more appealing to buyers. Recently, Connie saw an agent use AI to add horses and chickens to his rural property for social media.

Valley vs. Anchorage: Market Comparison

1. Anchorage may have the luxury homes, but the Mat-Su Valley offers more homes for sale and additional benefits.
2. This is largely due to differences in population, new construction, home and land prices, and property taxes.
3. Boomers are also preferring not to live in multi-story homes and are looking for ranch-style homes, making them increasingly popular in the Alaska real estate market.
4. Maybe there is a reason why some Anchorage residents are willing to take the “commute” for more housing options.

Obstacles in Developing New Parks and Subdivisions

1. Mobile home parks often get a bad reputation, and that may never change. Surprisingly, developing new parks isn’t cheap, which raises the question of whether it’s worth it.
2. Much of the cost comes from regulations, and we share our thoughts on how these rules impact development.

“It’s a big mistake to think we can have four-, five-, or six-story apartment buildings. They might be full for a while, but you’ll eventually see turnover, because the permanent residents who live here simply don’t want to live like that.” - Connie Yoshimura

“So if we’re going four or five stories up with multifamily, stick-built apartments, we’re going to need some yard storage for all their outdoor toys. And honestly, I don’t know of any apartment or condo...

It was a big year in the Alaska real estate market, and you might not even realize it. That’s why we are recapping the 2025 market in this episode. We discuss the impacts of regulation, housing affordability challenges, and the risks of stock market versus real estate investing.

Risk in Real Estate vs. Stock Market

1. Real estate and the stock market both come with risks. But there is one reason why it is often a better idea to invest in real estate rather than the stock market.
2. There is no leverage in the stock market. If something costs a dollar, you pay that full dollar. With real estate, however, you have a chance to make more than you put in. This is due to the tax advantages and incentives in commercial real estate.
3. Even though there is still market uncertainty in real estate, the tax advantages, incentives, and long-term dynamics often outweigh the risks.

Commercial Real Estate Trends

1. One trend going on in Anchorage is the musical chair effect. This is where there are no new tenants or industries moving into offices. Instead, the companies already around are just relocating between buildings, leaving an abundance of “for lease” signs on office space.
2. Oil, gas, and politics also affect commercial real estate, as potential new companies rely on these factors for future growth.

Residential Market Dynamics

1. Putting down a payment for a house isn’t as simple as it was in the 50s. We can say our grandparents had it so much easier than those trying to do it now.
2. Many homeowners are completely shocked by current mortgage costs, and some may only be able to afford homes they don’t really want.

Luxury and Valley Market Growth

1. Even though the economy isn’t the best right now, we are still seeing multi-million-dollar homes being sold in Anchorage and the Mat-Su Valley. Often, it is buyers from all over the world who are looking for second homes or vacation homes.
2. If you’re wondering which area is more affordable, we suggest the Mat-Su Valley. It is cheaper to buy a home there than in Anchorage due to land availability, soft costs, and regulation.

“The question is, can you afford a place to live, or are you going to end up renting?” - Connie Yoshimura

“Many people can afford a home. They might not want to live in the home they can afford.” - Lottie Michael

Timestamps

01:14 – Vacancy in Anchorage Commercial Real Estate

03:00 – The BP Building Story & National/International Influence

04:04 – Risk/Reward & Leverage in Real Estate

05:57 – Boomers, Equity, and Residential Market Dynamics

08:23 – Down Payments, Affordability, and Veteran Loans

10:01 – Anchorage’s Million-Dollar Market & The Valley

12:10 – Cost Structure: Land, Regulation, and Affordability Gaps

16:02 – Shifts in Commuting, Work, and Residential Choice

20:07 – Upcoming Podcasts and Closing Thoughts

Sponsorship

This episode is brought to...

Sales conversations don’t succeed because of clever scripts, they succeed because of genuine connection. In this episode, Lottie and Mike break down how authenticity, curiosity, and trust create stronger buyer relationships and better long-term outcomes. They explore how sellers can move away from transactional tactics and toward conversations that feel human, relevant, and value-driven.

This episode focuses on how real connection shortens sales cycles, reduces resistance, and helps prospects feel understood rather than managed.

Why Authenticity Matters More Than Technique (00:01:30 – 00:03:05)

Lottie explains that buyers can immediately sense when a conversation feels forced or rehearsed.

When sellers rely too heavily on scripts or tactics, trust erodes before the conversation even gets started.

Authenticity builds credibility faster than any closing technique.

The Problem With Transactional Selling (00:03:05 – 00:04:50)

Mike shares how transactional selling focuses on short-term wins instead of long-term relationships.

This mindset leads to:

1. Rushed conversations
2. Surface-level discovery
3. Lower retention and repeat business

When sellers chase the deal instead of understanding the person, opportunities are lost.

Shifting From Talking to Listening (00:04:50 – 00:06:30)

One of the key themes of the episode is the power of listening.

Lottie emphasizes that strong sales conversations prioritize:

1. Curiosity over control
2. Understanding over persuasion
3. Dialogue over monologue

Listening creates space for prospects to open up and share what truly matters.

Asking Better Questions to Create Trust (00:06:30 – 00:08:10)

Rather than asking questions to “check boxes,” Mike explains how sellers should ask questions that invite reflection.

These questions help prospects articulate:

1. Their current challenges
2. What’s not working
3. What success would actually look like

Good questions make prospects feel heard, not interrogated.

Creating Psychological Safety in Sales Calls (00:08:10 – 00:09:55)

Lottie discusses the importance of psychological safety in buyer conversations.

When prospects feel safe, they’re more honest about concerns, budgets, and decision-making barriers.

Pressure kills honesty, safety creates clarity.

How Authenticity Reduces Objections (00:09:55 – 00:11:35)

Many objections arise because prospects don’t feel fully understood.

Mike explains that when sellers build real rapport and understanding early, objections decrease naturally.

Trust eliminates the need for defense.

Balancing Professionalism and Humanity (00:11:35 – 00:13:05)

Being authentic doesn’t mean being unprepared or casual.

Lottie explains how top performers balance professionalism with warmth by:

1. Being present
2. Speaking plainly
3. Admitting when they don’t have all the answers

Buyers respond to real people, not perfect presentations.

Key Lesson: Connection Drives Conversion (00:13:05 – 00:14:40)

The core takeaway from this episode is that connection is not a “soft skill”—it’s a revenue skill.

When sellers focus on genuine understanding and honest conversations, trust grows and decisions happen more naturally.

“People don’t buy from processes—they buy from people they trust.” — Lottie & Mike

In this insightful episode, Connie Oshimura welcomes Chad Stigen, a seasoned broker from the MatSu Valley, to explore the unique real estate landscape of South Central Alaska. With vast expanses of land and an evolving housing market, this episode reveals the distinct advantages and challenges of buying and selling in the MatSu, contrasting it with Anchorage and highlighting the growing demand for affordable housing. Understanding the MatSu Market Dynamics

● The Matanuska borough encompasses 25,258 square miles, drastically larger than Anchorage’s 1,961 square miles, giving the valley a distinct advantage in land availability.

● Land prices in the MatSu are notably lower, with the average lot costing around $100,000 compared to Anchorage’s average of $221,000, making it an attractive option for potential buyers.

● The infrastructure improvements, including upgraded roads, have spurred development, allowing for new neighborhoods and more accessible land for building.

Shifts in Housing Trends

● A noticeable increase in million-dollar homes has emerged, particularly properties with airstrips or lakefronts, which are becoming common in the area.

● The average home in the MatSu now features larger plot sizes (often more than an acre) and amenities that attract buyers looking for a serene lifestyle.

● Challenges with septic systems and wells were discussed, illustrating the importance of understanding local requirements and costs when developing properties in the valley.

Comparative Insights: MatSu vs. Anchorage

● Anchorage faces a housing shortage with higher development costs, which is pushing buyers towards the more affordable MatSu Valley market.

● The transient nature of the rental market in Anchorage contrasts with the family-oriented community in MatSu, where homeownership is a significant goal for many residents.

● Chad emphasized that the appeal of the MatSu Valley isn't just about price; it's about a lifestyle choice that attracts families and individuals looking for stability and community.

Homework Challenge or Action Steps

● Research the MatSu Valley real estate market trends and land purchasing options.

● Consider visiting the area to explore the unique communities and amenities available.

"There's more opportunity for homeownership, and it's a problem we're facing with Anchorage focusing on vertical structures." - Chad Stigen.

Timestamps

● 00:00 ● Introduction

● 02:10 ● Overview of MatSu Valley and its land dynamics

● 10:25 ● Insights into the current housing trends and pricing

● 22:45 ● Comparing MatSu and Anchorage markets

● 36:10 ● Closing thoughts on community and future developments

Resources

● [MatSu Valley Real Estate Listings](#)

● [US Census Bureau ● South Central Alaska Data](#)

Credits

© 2023 Alaska Real Estate Podcast. All rights reserved.

What does renters insurance typically cover, and what liabilities should tenants consider? How are CAM charges calculated and distributed among tenants?

Diving Into Leases: Residential vs. Commercial

[00:00:44 - 00:02:13]

Connie Yoshimura and Lottie Michael set the stage for a deep dive into the world of leasing, spurred by numerous inquiries. Lottie Michael provides insights into why commercial leases often favor tenants, explaining the difference between leasehold ownership and property ownership, and why leases "run with the property" even through a sale.

Cracking the Code: CAM Charges and Lease Types

[00:02:13 - 00:05:20]

The duo unpacks the complexity behind CAM (Common Area Maintenance) charges, explaining their components—like taxes, insurance, and utilities—and underscores the importance of clarifying exactly what’s covered before signing a lease. They also discuss the differences between full service and triple net leases, revealing the nuances in cost responsibility.

Negotiating Commercial Leases

[00:05:56 - 00:12:34]

Connie Yoshimura learns from Lottie Michael about determining fair lease rates, the importance of market research, and the necessity of specialized brokers for commercial agreements. They explore lease structures, tenant improvements (TIs), early-out provisions, operational details, and the critical need to have all terms in writing.

The Unique Dynamics of Residential Leasing

[00:14:49 - 00:22:03]

Switching back to residential, Connie Yoshimura stresses the importance of tenant screening, credit checks, pet policies, and the growing demand for rental housing among younger generations. They discuss Alaska’s rental inventory crunch and the trend of professionals opting to rent high-end homes.

Real Estate Lessons & Closing Thoughts

[00:22:22 - 00:26:25]

Connie Yoshimura and Lottie Michael reflect on lessons learned—especially the value of professionalism in real estate, whether dealing with family, friends, or long-term tenants. They wrap up with stories from their extensive careers, inviting listeners to suggest new topics for future episodes.

Thinking about selling your home in Alaska? Should you refresh it or go for a full remodel?

In this episode, I sit down with Stacey Dean, professional remodeler and member of the American Society of Interior Designers (ASID). Together, we break down the difference and share expert tips on preparing older Alaska homes for the market.

The Value of Remodels vs Refresh (00:00:01 - 00:00:20), (00:16:10 - 00:18:13)

You think that doing a major remodel will bring in more return on investment, especially if you’re planning to sell soon. But this couldn’t be further from the truth!

Stacey recommends saving extensive projects for long-term homeowners and focusing on simple updates that make a home more appealing to buyers.

Refreshing Defined (00:02:37 - 00:03:06)

Refreshing your home means just making a few updates that’ll make the space look more new. This can include painting, updating flooring, changing light fixtures, or replacing an appliance.

Stacey says these surface-level changes are budget-friendly and can quickly improve your home’s market appeal in Alaska.

Color Trends and Curb Appeal (00:05:51 - 00:10:05)

Choosing the right colors can make a big difference inside and out. Stacey recommends warm whites for interiors and staying away from stark or dark gray tones.

For the exterior, sage green or light blue-gray are great choices. These colors appeal to more buyers and fit well with Alaska’s unique environment.

Remodeling: When to Skip It (00:13:11 - 00:18:13)

Big remodels, like adding an arctic entry, can get expensive and complicated. Permits, zoning, and utility work can all add time and cost.

Also, be careful not to over-improve your home compared to others in the neighborhood. Upgrades that stand out too much can actually hurt your resale value.

Hiring the Right Professionals (00:20:06 - 00:24:02)

Always hire the right contractor for any project. Stacey suggests checking for current insurance and proper licensing, asking for referrals, and looking at the quality of their past work.

Being part of industry groups or associations is another sign of a trustworthy professional.

Homeowner’s Emotional Rollercoaster (00:24:39 - 00:28:07)

Going through updates can be a mix of excitement and stress. It’s normal to feel ups and downs as costs rise or projects take longer than expected. But for those planning to stay in their home, seeing the finished result can be very rewarding. Remember, simple updates attract buyers and help maximize your sale price. Save the big projects for your next home.

“We always suggest that if people are planning a remodel, they should be planning to stay in their home for the long term. Eventually, they can recoup their investment, but it takes time. A remodel should never be seen as a short-term solution when selling a home.” Stacey Dean.

Owning a high-end luxury home often gives you a real sense of accomplishment. But you don’t have to spend three million dollars to indulge in an Alaskan home.

Even a $500,000 home can feel upscale with the right touches.

How is that possible? In this episode, I’ll explain exactly how and share the pros and cons of the Alaska luxury home market.

Defining Upscale Homes in Alaska

· You might think spending $1 million on a home automatically makes it high-end, but with inflation and importing costs, you often need to spend even more.

· It’s better to focus on polished touches and unique features that reflect your style rather than defining an upscale Alaskan home by its price tag.

· You also don’t have to be part of high society to enjoy luxurious home ownership in Alaska. Most buyers of these homes are local business owners, CEOs, and community leaders.

· My most recent sale was to a buyer from London who comes to Alaska every six weeks just to ski at Alyeska Resort.

Elements of an Alaskan Luxury Home

· Every home deserves an elegant touch. It doesn’t matter whether you’re in a million-dollar home or a manufactured home. Your personal style is what makes it feel high-end, because it’s yours.

· Think about how often you use your kitchen faucet. Wouldn’t it be nice to have a fancier one to make everyday tasks feel a little more sophisticated? Or even a dishwasher that makes life easier and a bit more upscale.

· Also, waterfronts, mountain views, and lake access can add thousands to a home’s worth. A smaller home with a prime view can be more valuable than a larger one without it.

Custom Home Building in Alaska Cons

· Even though personal touches make a home feel luxurious, it’s important not to go overboard. You also need to think about the future, especially if you ever decide to sell.

· Too much personalization can impact resale value. Trends also change over time. In the past, bigger homes were popular, but now many buyers prefer smaller, functional spaces with modern features.

Becoming an Alaskan Luxury Homeowner is a Creative Journey

· Becoming a luxury homeowner in Alaska is as much a creative journey as it is a real estate process. Whether you’re building new or remodeling, your home should bring a sense of pride and joy when it’s complete.

· Designing a home is an art form. It’s a way to balance self-expression with long-term value. Every choice you make should reflect peace, serenity, and a feeling of “home” every time you walk through the door.

· We’d also love to hear from you. If you have questions or want to be a guest on the podcast, please reach out to us.

“It’s a personal choice, and it doesn’t necessarily have anything to do with value or the market. It’s a creative endeavor, an expression of yourself, and something that brings joy and pride throughout the process.” - Connie Yoshimura.