Learn the Value of Your Alabama Hill Neighborhood Home

Do you live in Bellingham’s Alabama Hill Neighborhood?

Curious of the value of your home in today’s active real estate market? Enter your address below for a FREE, no obligation home value report.

Alabama Hill Home Values

The Alabama Hill Neighborhood is located on the eastern side of the city of Bellingham near the north end of Lake Whatcom.  Houses throughout Alabama Hill are of mostly of contemporary design. Originally developed in the late 1960’s and early 1970’s the neighborhood offers many established homes and landscapes as well as newers homes built vacant lots throughout the years.  Many of  the homes in the neighborhood enjoy spectacular city and bay views. Most homes and yards are very well maintained and have large back yards. Broad curved streest, cul-de-sacs and sidewalks give the neighborhood an intimate and inviting feel.

View Homes For Sale in the Alabama Hill Neighborhood:

Alabama Hill Neighborhood Real Estate

For more information on the Alabama Hill Neighborhood or real estate in the area call us today at 360-303-2734 or email us at Info@JohnsonTeamRealEstate.com

Mortgage Rates Are Climbing!

If you are buying, selling, or refinancing, the current mortgage rates are very important. You can see below what the current rates are as of February 15th.2.15

Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the rates. If you have mortgage questions you can reach her at 360-650-5365!

Which Comes First… Marriage or Mortgage?

Which Comes First… Marriage or Mortgage? | MyKCM

According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable.

But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 16% of all first-time buyers last year.

If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2017, while single men accounted for 7% of buyers. A recent report pointed to a sense of responsibility and commitment that drives many single women to want to own their own homes rather than rent someone else’s.

Here is the breakdown of all first-time homebuyers in 2017 by percentage of all buyers, income, and age:

Which Comes First… Marriage or Mortgage? | MyKCM

Bottom Line

You may not be that much different than those who have already purchased their first homes. Let’s get together to determine if your dream home is already within your grasp! Give us a call at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

The #1 Reason to Sell Now Before Spring

The #1 Reason to Sell Now Before Spring | MyKCM

The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017:

The #1 Reason to Sell Now Before Spring | MyKCM

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.

Bottom Line

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate. Give us a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

How Many Homes Are For Sale?

Homes by EmailThe number of real estate signs you see in yards can be deceiving as to the number of homes actually for sale WITHOUT offers on them. If you are seeing new signs around your neighborhood and curious if any of those homes already have offers on them, we have your answers!

Every week we keep track of how many homes are for sale around Bellingham and Whatcom County and how many of those homes have pending offers on them. Pending is the time frame between when an offer has been mutual accepted between the buyer’s and the seller’s of the home and when the title actually transfers hands. This give the buyer’s time to get the financing, do inspection, review the title reports and more.

As of Friday, February 9th, the pending ratio in Bellingham was 50%. Click the links to view a report of how many homes are for sale in each area by price range and how many of them are pending showing just how active certain sectors of the market are.

The Birch Bay Pending ratio was 41%

The Ferndale pending ratio was 37%

The Lynden pending ratio was 44%

The Sudden Valley pending ratio was 65%

If you are thinking of selling your home or property, Johnson Team Real Estate would love to help! We are here to help you will all your real estate needs! You can reach us toll free at 1-888-713-3056 or email us at Info@JohnsonTeamRealEstate.com

Where Are Mortgage Interest Rates Headed in 2018?

Where Are Mortgage Interest Rates Headed in 2018? | MyKCM

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.

Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.

Where Are Interest Rates Headed? | MyKCM

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line 

Even a small increase in interest rate can impact your family’s wealth. Let’s get together to evaluate your ability to purchase your dream home. Call us toll free at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Whether You Rent or Buy, Either Way You’re Paying a Mortgage!

Whether You Rent or Buy, Either Way You're Paying a Mortgage! | MyKCM

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage as opposed to paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.22% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy. Give us a call at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

New Pending Ratios!

Homes by EmailThe number of real estate signs you see in yards can be deceiving as to the number of homes actually for sale WITHOUT offers on them. If you are seeing new signs around your neighborhood and curious if any of those homes already have offers on them, we have your answers!

Every week we keep track of how many homes are for sale around Bellingham and Whatcom County and how many of those homes have pending offers on them. Pending is the time frame between when an offer has been mutual accepted between the buyer’s and the seller’s of the home and when the title actually transfers hands. This give the buyer’s time to get the financing, do inspection, review the title reports and more.

As of Friday, February 2nd, the pending ratio in Bellingham was 50%. Click the links to view a report of how many homes are for sale in each area by price range and how many of them are pending showing just how active certain sectors of the market are.

The Birch Bay Pending ratio was 42%

The Ferndale pending ratio was 32%

The Lynden pending ratio was 42%

The Sudden Valley pending ratio was 61%

If you are thinking of selling your home or property, Johnson Team Real Estate would love to help! We are here to help you will all your real estate needs! You can reach us toll free at 1-888-713-3056 or email us at Info@JohnsonTeamRealEstate.com

New Mortgage Rates for February!

If you are buying, selling, or refinancing, the current mortgage rates are very important. You can see below what the current rates are as of February 1st.

feb1

Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the rates. If you have mortgage questions you can reach her at 360-650-5365!

Confused About the New Tax Code?

Are you confused about the new tax code and what it really means to you as a real estate owner?

Here’s a great educational video detailing the main topics and impacts.

Hope this helps!