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To: koan who wrote (28974)	1/5/2007 4:11:37 PM
From: loantech	Read Replies (1) \| Respond to of 78442

Overall in the major population centers it is slower other than Juneau?

To: koan who wrote (28974)	1/5/2007 6:10:12 PM
From: kathtoo	Read Replies (1) \| Respond to of 78442

Hello Koan, I left Anchorage in 88. Real estate (especially condos) were in the tank. It was after the S & L fiasco, builders had overbuilt(anybody with a pickup and a hammer could call themselves a builder and get construction money) and the oil economy turned down causing a major tumble down in real estate. I heard a statistic back then that for every condo built, the banks would foreclose on the same unit up to 3 times on the way down. My own unit, which I had purchased for 90,000 in 82 was tax assessed for 38,500 in 89. The bank had foreclosed on it twice I believe (including my own deed in lieu). I would like to get back up to Anchorage and see it. I don't expect the banks learned their lesson about overbuilding the market, but who knows? One of the things that helped the market back were investors that bought condo units in bulk at $15000 per unit (condos that had sold for 80,000) and converted the units to apartment buildings. It absorbed a lot of the excess, but as I recall, it took quite some time.