It is a good time to buy in the Anchorage area now. There are hundreds of houses for sale in the valley (Palmer and Wasilla) and that's helping to drive down the prices in Eagle River and Chugiak, and Anchorage as well to a lesser extent. In general commuting from the valley takes just under an hour, from Eagle River/Chugiak 35 to 40 minutes outside of rush hour. A lot more bang for your buck in ER/Chugiak. The market seems to have leveled off in the last 3 to 6 months, prices holding relatively steady and not falling any more. Only people on the south side of Eagle River or down and back in the valley don't get the sun in the dead of winter. Most places are safe. I can't imagine not having a car. In 2 weeks you'll want one to sneak off to the numerous fishing holes within an hours drive.