I bought in 1985, sold in 2000 for a nice 40% profit. That house is now tax assessed at about double what I sold it for, triple what I paid. I bought another house in 2000, that one is now up almost 35%. 

The homes that went back to the bank in the '80s and again in the '90s were mostly low end condo units that were dramatically overpriced. Hard to get hurt in a single family home of moderate value. Anchorage has never seen the big booms in pricing, never sees the big losses.