Did you know Alaska is as big as Texas, California, and Montana combined? With all that land, you might wonder, who really owns Alaska?

Well, Lottie and I are here to break down what makes our state so unique when it comes to land ownership, population dynamics, and economic opportunities. From historical tidbits to modern real estate realities, we’re diving into who actually owns Alaska and how that ownership shapes everyday life for Alaskans.

The Great Land: Alaska’s Size and Scope

· When you really start to look at it, Alaska’s size is almost hard to wrap your head around. In this episode, Lottie and I talk about just how vast our state truly is. It’s over 663,000 square miles, or should we say, enough room to fit 430 Rhode Islands.

· We also chat about Alaska’s incredible coastline, the longest in the entire country, and share a few personal stories that bring those wild statistics to life. If you’ve ever wondered what makes living here so special, our conversation will give you a new appreciation for just how big and beautiful “The Great Land” really is.

Who Really Owns Alaska?

· Here’s where things get interesting. Even though Alaska has around 365 million acres, nearly 90% of it is owned by either the federal or state government. Alaska Native Corporations own about 12.5% of the land, which leaves less than 1% for private citizens and businesses.

· That means if we divided it evenly, every Alaskan would get just about one acre of land! Lottie and I break down what that really means for anyone hoping to buy, develop, or just understand why land ownership here is so different from anywhere else in the U.S.

Living in Alaska: Accessibility and Barriers

· Now, with all that space, you’d think finding a place to build would be easy—but not quite. Much of Alaska’s land is undevelopable, whether it’s permafrost, wetlands, or simply too remote to reach without a plane. We share a few local stories about isolated communities, frozen lakes, and what it really takes to get from point A to point B up here.

· We also discuss why housing can be so limited in Anchorage and how geography shapes where—and how—people can live in Alaska.

The Economy and Everyday Opportunity

· To wrap things up, we dive into Alaska’s economy and what makes life here so unique. Incomes are higher than the national average, and we enjoy no state income or sales tax in major cities.

· But there are tradeoffs. With such little private land and much of the retail growth shifting toward the Valley, Anchorage faces real challenges when it comes to expansion and urban planning.

· We share our thoughts on where things are headed and what it’ll take to keep Alaska’s communities strong, vibrant, and full of opportunity for generations to come.

“The median household income here is $89,336. That’s from a couple of years ago, but it’s still about 13.75% higher than the national median.” - Connie Yoshimura.

“What we might not be considering when we say that number out loud is that we don’t have a state income tax. We’re careful about how we tax ourselves. So yes, we have taxes on tobacco, alcohol, and marijuana, but we don’t have many of the hidden taxes that the rest of the country is burdened with.” - Lottie Michael.

With so many changes happening in the real estate industry because of AI, Lottie and I decided to join forces. We’re sharing our years of experience, our stories, and the lessons we’ve learned along the way. In this episode, Lottie opens up about her background and shares

her expertise in the Alaskan real estate market.

Who is Lottie?

· Lottie Michael manages the commercial division of Berkshire Hathaway Home Services.

· She got her license at just 19 and started in residential real estate, like most people do.

· Lottie worked alongside her mother until she was ready to run her own brokerage firm in Alaska.

· After a few years, she moved to the San Francisco Bay Area to work with another firm—but Alaska kept calling her home. Lottie moved back and has been deeply involved in brokerage, personal investing, and the commercial real estate sector ever since.

Advice on Investing in Real Estate

· Lottie suggests that anyone thinking about starting a real estate portfolio first consider which area they’re passionate about—residential, industrial, or multifamily.

· Focus on that area and start building your network with engineers, attorneys, and CPAs to grow your portfolio.

· Connie adds that having a residential land developer on your team can make a big difference. The people you surround yourself with matter immensely in real estate, and without the right team, you may end up struggling.

Alaska Real Estate Dynamics

· We love Alaska and always enjoy our long walks together, taking in the beautiful scenery while talking about real estate.

· That said, we’ve noticed some unique challenges here, including high construction costs, logistics hurdles, and an aging housing stock.

· Despite these challenges, there are also amazing opportunities in Alaska—many of which we dive into in the podcast.

Commercial vs. Residential Insights

· Medical facilities can get pricey to build out with all the plumbing, HVAC, and electrical work—way more than your typical retail or industrial space.

· And when it comes to commercial costs, things like utilities and build-outs hit your bottom line fast, so location really matters.

· Here in the Mat-Su Valley, we’re seeing a boom in housing and commercial growth, and infrastructure is racing to keep up as more people look beyond Anchorage for services.

“Real estate is the vehicle to build wealth—for you and for your family—and yes, it’s challenging. You don’t need to start with a lot to end up with a lot. A strong work ethic is, I think, mandatory, but beyond that, that’s really all it takes.” - Lottie Michael.

In the very first episode of the Alaska Real Estate Podcast, you’ll get to know one of our amazing hosts, Connie Yoshimura. She shares her journey into real estate and why she chose to build her career in Alaska.

Connie’s Journey: Finding Home and Real Estate in Alaska

· Connie’s story begins with her move to Alaska and her first steps into the real estate world—solo.

· Originally a creative writer and aspiring poet, she discovered a talent for real estate sales after working in hospitality.

· Her communication and writing skills became her secret weapons, helping her connect with clients through open houses and newspaper articles, and quickly build a reputation in the community.

Selling with Heart: Lessons from Life and Dale Carnegie

· Connie’s approach to sales is all about understanding people.

· Inspired by Dale Carnegie, she emphasizes the importance of listening to clients, addressing their concerns, and recognizing the emotional side of buying a home.

· She also recommends that anyone in sales or real estate should consider reading Dale Carnegie's book,

“How to Win Friends and Influence People.”

· Every sale, she notes, carries a story—often tied to life’s major milestones and changes.

The Art of Development and Community Pride

· Beyond individual sales, Connie loves the bigger picture of real estate development.

· From designing subdivisions that blend seamlessly with Alaska’s landscapes to watching families move into brand-new homes she helped create, she finds deep satisfaction in shaping communities that stand the test of time.

Looking Ahead

· This is just the beginning, and we invite you to follow along as we explore the unique opportunities and challenges of Alaska’s real estate market.

"I share your belief that Alaska is probably the best place in the United States—if not the world—to be. Here, you can go after whatever you’re brave enough to try. And you know what? We’re going to do it." - Connie Yoshimura.

Resources

1. Book - How to Win Friends and Influence People by Dale Carnegie.
2. https://alaskarealestatepodcast.com/
3. https://www.bhhsalaska.com/

Welcome to the inaugural episode of Alaska’s Real Estate Podcast! We’re your hosts, Connie Yoshimua and Lottie Michael.

In this short episode, we’d love to share a little about who we are, why we started this podcast, and what you can expect moving forward. This is just the beginning, and we’re excited to dive into meaningful conversations about Alaska’s one-of-a-kind real estate market.

Connie Yoshimura’s Residential Focus

· Connie has always preferred residential real estate over commercial, but her commercial coursework still shapes the way she approaches residential land development.

· Even though we focus on different areas of the industry, we both agree on one thing: follow your passion and view real estate as a long-term career, not just a job.

The Value of Office Presence

· In our post-COVID world, it might seem like everyone loves working from home—but not Lottie.

· Drawing inspiration from Warren Buffett’s work ethic, she explains how being in the office can boost productivity and professional growth.

· She even encourages both new and experienced agents to spend more time in the office to develop a strong work ethic.

Lottie Michael’s Background in Alaska Real Estate

· Lottie has spent nearly her entire life in Alaska, growing up in downtown Anchorage since the 1950s.

· She started her real estate career at the age of 19, becoming one of the youngest licensees at that time.

· Lottie attributes her early start and passion for real estate to her mother, who was also in the business. Her expertise spans more than five decades, and she’s particularly known for her skills in sales and investment analysis.

Commercial Real Estate Insights: Bones and Income Streams

· Lottie breaks down how commercial real estate investments are valued, emphasizing the importance of the income stream, property condition (“the bones”), and market rates.

· She draws a parallel between evaluating businesses and commercial properties, highlighting the many layers of analysis required for smart investments.

Case Study: Transforming a Wasilla Landmark

· Lottie tells the fascinating, decades-long story of a commercial property in Wasilla. After Walmart outgrew its original location and Sears later struggled with changing business models, Lottie eventually helped facilitate the sale to Alaska’s largest furniture retailer.

· The building is now undergoing significant renovation and will soon open with a variety of retail outlets, providing much-needed services to the rapidly growing Palmer–Wasilla region.

Looking Forward: Alaska’s Real Estate Market

· We’re excited about the future of Alaska’s real estate market! Lottie is confident about commercial opportunities fueled by the state’s strategic location, resource development, and infrastructure needs.

· She encourages everyone to stay informed and proactive, as many positive developments aren’t immediately visible.

"If I make a little money in residential land development, do you know what I do? I go buy water and sewer bonds in different communities—because I understand them, and I know that water and sewer will always be essential." - Connie Yoshimura.

"It’s not just about what I did today; it’s about what prepared me for today. Being the first one in the office, the last one out, and constantly reading and educating myself—both locally and nationally—got me ready." - Lottie Michael.

With more than 70 years of combined experience, friends and colleagues Connie Yoshimura and Lottie Michael bring both residential and commercial expertise to Alaska’s real estate market.

Connie, Owner/Broker of Berkshire Hathaway HomeServices Alaska Realty, has developed communities across Southcentral Alaska and written extensively about housing trends. Lottie, a Senior Vice President and CCIM designee since 1983, has led clients through retail, office, multi-family, and land development projects while shaping real estate standards statewide.

Together, they share candid insights, personal stories, and a little humor to make sense of Alaska’s ever-changing market. From neighborhood developments to major commercial investments, Connie and Lottie help listeners understand what works, past, present, and future, in buying, selling, and investing across the Last Frontier.