Want to learn about the million-dollar market in Alaska? I’m excited to share this conversation with two experts on this topic. Teresa Thomas, a top mortgage producer with Global Credit Union, and Daniel George of Berkshire Hathaway HomeServices Alaska Realty joined me to break down insights on Alaska’s million-dollar real estate market.

Meet Teresa Thomas and Daniel George

• Teresa Thomas brings over 20 years of mortgage origination experience with Global Credit Union. She specializes in creative financing solutions, including 100% financing on approved credit for conforming loans, along with niche programs for doctors, veterinarians, and dentists. She also helps buyers navigate appraisal gaps and structure competitive offers in fast-moving markets.
• Daniel George is a licensed realtor with over 20 years in the real estate industry and nine years as an active agent. He works with Berkshire Hathaway HomeServices Alaska Realty and focuses on Anchorage’s luxury market, including new construction, high-end homes, and investment properties. He also brings an investor’s perspective as a long-time rental property owner.

Market Demand & Competition

• Anchorage continues to see strong demand and low inventory, with homes moving quickly and an absorption rate of just over one month.
• Competition is intense, with buyers using cash offers, appraisal gap coverage, and escalation clauses to win properties, sometimes exceeding the asking price by $300,000.

Lending in the Luxury Market

• While cash offers often win, financing options still play a major role. Jumbo loans in Alaska can reach around $2 million, and specialized programs support buyers, including 100% financing options within conforming limits and doctor loan programs.

Buyer Trends & Market Insights

• Luxury buyers include medical professionals, oil and tech workers, upper military, entrepreneurs, and aging homeowners using home equity to upgrade. Desired features include main-floor bedrooms, three-car garages, ADUs, and pools. Over 51% of homes sold are ranch-style, reflecting strong demand for single-level living.
• Homes in the $1M–$1.5M range often sell in under 30 days. Experts encourage buyers to prepare early with strong lender relationships and competitive strategies, as appreciation continues at just over 4%, and rates are not expected to drop significantly.

“If you're someone who's in the market for a four- or five-bedroom home… you've got to be ready to jump quickly. You've got to be pre-qualified.” — Daniel George

“A cash offer is almost always going to win. But if somebody is struggling to come up with that additional appraisal gap, what we can do is 100% financing on approved credit.” — Teresa Thomas

Resources

• If you're looking for commercial real estate opportunities in Alaska, contact Lottie Michael at lottie@lottiemichael.com or 907-242-7603.
• For help buying or selling residential real estate in Alaska, contact Connie Yoshimura at 907-229-2703.

Sponsorship

This episode is brought to you in part by Berkshire Hathaway HomeServices Alaska Realty. Transform your real estate journey with expert guidance. Check out their services: https://www.bhhsalaska.com/

Credits

©2025 Alaska Real Estate Podcast. All rights reserved. Music by SoundStripe