Real Estate Market Velocity for Bellingham and Whatcom County

Happy Monday! 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 Saturday, April 19th the pending ratio in Bellingham was 28%. Click the links to view a report of how many homes are for sale in each area and price range and how many of them are pending showing just how active certain sectors of the market are.

Birch Bay has a pending ratio of 18%

The Ferndale pending ratio was 21%

The Lynden pending ratio was 29%

The Sudden Valley pending ratio was 36%

If you would like to search for Real Estate in Bellingham and Whatcom County that is currently for sale visit www.JohnsonTeamRealEstate.com where you can search for homes for sale in Bellingham and real estate around Whatcom County.

County Living in Meridian School District Set Up for Horses!

Have you dreamed of living in the county? Enjoying privacy, with plenty of room for your hobbies or even horses? Then look no further than 6400 Sundance Lane, Everson. Here you can enjoy this 3 bedroom, 1.75 bathroom home located on 5 acres down a private drive. There is a 3 car detached garage plus a spacious shop for storage, toys or hobbies.

If you are into horses there is horse fencing already installed , a tack room , horse stalls, compost area and a level riding area with sand and sawdust await you and your horses.

Features

Wired for Generator, Bath Off Master, Ceiling Fan(s), Double Pane Storm Windows, French Doors, Skylights

Additional Information

Outdoor Arena, Barn, Deck, Dog Run, Partially Fenced, Green House, Outbuildings, Patio, Propane, RV Parking, Shop
Taxes: $4,565
View: Territorial
Lot Size: 5.00 Acres (217,800 SqFt)
Garage Size: 3 Car
Exterior: Wood Products
Heating/Cooling: Forced Air, High Efficiency,
Roof: Composition Roof
Flooring Hardwood Floor: Laminate, Vinyl Floor, Wall to Wall Carpet

Features

Wired for Generator, Bath Off Master, Ceiling Fan(s), Double Pane Storm Windows, French Doors, Skylights

School Information

District: Meridian School District
Elementary Irene Reither Primary School
Junior High: Meridian Middle School
High Meridian High

To see more details on the home visit the virtual tour here or call the Johnson Team at (360) 303-2734 to schedule a private showing.

Mortgage Rate Update

Have you been staying up to speed on the latest in home loan and mortgage rates? The Johnson Team Real Estate can help you out. If you are in the market for a home loan below are the mortgage rates as of  today April 17th, courtesy of Sidney Stonecypher at People’s Bank Barkley Branch here in Bellingham.

For more details, or a custom home loan quote, contact Sidney Stonecypher at People’s Bank, 360-676-4597 or sidney.stonecypher@peoplesbank-wa.com. Remember that many variables come into play in determining the rate a lender will give a borrower. If you are getting a rate quote from a lender who does not have all your information, that rate may not be real. What with the low rates, it is still a great time to buy a house!

What is Bellingham’s Market Velocity?

Sold homeHappy Monday! 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 Saturday, April 12th the pending ratio in Bellingham was 28%. Click the links to view a report of how many homes are for sale in each area and price range and how many of them are pending showing just how active certain sectors of the market are.

Birch Bay has a pending ratio of 21%

The Ferndale pending ratio was 19%

The Lynden pending ratio was 31%

The Sudden Valley pending ratio was 30%

If you would like to search for Real Estate in Bellingham and Whatcom County that is currently for sale visit www.JohnsonTeamRealEstate.com where you can search for homes for sale in Bellingham and real estate around Whatcom County.

Moving Truck Non-Profit User of the Quarter

The Johnson Team is proud to offer our moving truck FREE of charge to community organizations and our clients. Below is this quarter’s featured non-profit:

WeSnip’s goal is to end dog and cat euthanasia and over population in Whatcom County by offering accessible and affordable spay and neutering services as well as community outreach and education. Since 2008, their program has resulted in an 87% drop in the number of unweaned kittens euthanized by the Humane Society. It’s working.

“THANK YOU SO MUCH for letting WeSNiP borrow your moving van this past weekend!!!! Not only did it save us a ton of money to rent a truck, but it was perfect for the job! We couldn’t have been more pleased.
Dianne, WeSnip www.WeSnip.org

Your referrals let us provide help to Whatcom county non-profit organizations who benefit our community. Please think of us when a friend or relative talks about moving – and tell your favorite non-profit to give us a call when they need a truck!



Spring Nest Cookies, Perfect for Easter!

These adorable nest shaped cookies are always a hit of any spring party or easter gathering. The cookies are simple to make and even the kiddos like to get involved. One point to mentions, they are pretty messy to make!

Ingredients:

· 1 (11-12oz) bag milk chocolate chips

· 1 (11-12oz) bag butterscotch chips

· 1 (10-12oz) bag chow mien noodles

· Small Egg shaped candies such as chocolate eggs or jelly beans

Directions:

Combine both packages of chips in microwave safe bowl. Heat for 60 seconds. Stir and repeat until all melted. Add bag of chow mein noodles and stir until noodles are coated.

Lay out wax paper and drop large tablespoonfuls of chocolate noodles onto wax paper. Mold into bird’s nest shape.

Place a few candy “eggs” on top of each nest. Let the nest harden and then enjoy!

Blackmouth Salmon Fishing Off the Coast of Bellingham

Boy do we just love the Blackmouth Fishing Season. This is clearly the best salmon on the barbeque fresh and super red in color . We have been lucky enough to have plenty of it to eat as of late.

Mike and Kim were on the 2902 Trophy for the Anacortes Salmon Derby which was held March 29-30th and managed to land 4 fish on Saturday. The largest was just over 20 lbs and held onto 2nd place by the time the derby had ended. The fish was caught on the north end of Orcas Island.

The fishing has been generally pretty good from what we have heard. Most trips out the boaters are bringing back a fish or two. The expectations are super high for the summer run of kings coming down from Alaska.

Ling Cod opens May 1st and runs through June 15th. The halibut regulation dates are out as well. For marine area 7 the open dates are – May 9,10,17,22,23,24,25,29,30,31 & June 7th.

The Halibut/Ling cod seasons are our favorites. If you have any questions or need any tips-Just give The Johnson Team fishing Hotline a call at 360-303-2734 and we will be happy to help.

Community Energy Challenge- News You Can Use!

Spring at last!  Fortunately, our winter was pretty mild, but if you wish your heating bills had been lower, or your house cozier over the winter, now is the time to check out a great service available to homeowners in Whatcom County.   You have probably heard of Sustainable Connections.  They have a variety of programs, and during the last year Rich & Lylene had personal experience with one of them: The Community Energy Challenge We built our house in the early 80’s and tried to make it energy efficient., but as heating costs increased, the bills kept getting higher.

A year ago our son convinced us to contact Sustainable Connections about their Community Energy Challenge.   We started by signing up for an energy assessment.  It took about 5 hours for a building analyst to go through the house, pressure test it for leaks & look at the various systems and building details.  In a few days we sat down with an energy adviser, who went through the findings and made suggestions as to what was most cost effective.  He suggested contractors trained in energy efficient construction, and we chose one.  When the work was done,  a staff member came to the house to make sure it was properly done.  Some of the work was eligible for incentives or rebates, and the adviser guided us through that process. It was a great experience.  The suggestions made sense, implementation was easy…and our heating bill dropped dramatically.

If you would like to check them out, go to    http://sustainableconnections.org/energy/energychallenge

Team Talk

The market is heating up along with the outside temperature, and we are ready for a busy spring and summer. Remember, we are always here with advice and assistance for your real estate needs. We value your help in keeping us busy!

Mike Kim & Lauren are all ready for the spring weather. Lauren has her eye set on a garden ,so we will look for some space around the house and add a few raised beds if needed. With the Lingcod and Halibut seasons around the corner it feels like any spare time may be spent on the boat for the next 45 days or so.

Rich & Lylene made their annual trip to Virginia in January & managed to drop down to Roatan for a week of snorkeling. Fortunately, they missed the snow storms the east coast had. Then in February they met several of Rich’s Marine Corps friends in San Diego for a couple of days, and managed to be there during the most torrential rains of the year! Lylene is taking a series of 4 classes on green building and home efficiency offered by ReSources and Sustainable Connections…very interesting stuff.

Graham is still working for the composites firm in Burlington – it’s fun to hear about their wide variety of projects. He’s also training for a variety of endurance running events this spring & summer, and will be in Italy again in September for the Tor Des Geants, a 330km run in the Alps.

Fawn is excited that racing season is here and she and her family will be spending lots of time at the racetracks this spring and summer. McKenna just got a new dirt bike and is almost ready to ditch her training wheels, not too shabby for a 3 year old.

The Johnson Team Real Estate

Bellingham and Whatcom County Real Estate Update

Perception and Reality

The next statements were my perceptions over the past month, so don’t stop reading until you get to the reality section.

Over the past month, multiple homes have sold in a matter of days with multiple offers. Homes priced below $300,000 are selling fastest, by far. The real estate market has heated up dramatically. Pending sales are dropping because of low inventory. Again, this has been my perception. Last night when I pulled up the numbers for the past month, put them in the spreadsheet, calculated the percentages and charted them, the following became obvious:

  • Homes under $300,000 actually took just a tiny bit longer to sell than did homes from $300,000 to $750,000.
  • Only a handful of homes have sold for more than list price, which is a prime indicator of multiple offers.
  • The velocity of the market (turnover of homes) is gradually slowing down, and I don’t think it is due to low inventory. Overall inventory is up very slightly in Bellingham, but the number of pending sales as of mid March was down 20% from last year. Basically the same amount of inventory last year stimulated a higher pending sale percentage (this trend actually started last October).

The point? Don’t simply accept perceptions – check them out.

Let’s look at some Whatcom County numbers for the 1st Quarter 2014 vs 2013:

  • Bellingham: Units Sold up 8.9% Average Price up 7.5% Median Price down 0.5%
  • Ferndale: Units Down 4.5% Average Price down 4.5% Median Price down 0.8%
  • Sudden Valley: Units Sold up 48% Average Price down 0.4% Median Price down 3.4%
  • Birch Bay/Blaine: Units Sold up 3.9% Average Price Up 19.6% Median Price up 18.2%
  • Lynden: Units Sold down 13.6% Average Price down 2.4% Median Price down 5.2%
  • Nooksack Valley: Units No change Average Price down 14.5% Median Price up 12.6%
  • Mt Baker Units Sold down 3.1% Average Price down 12.6% Median Price up 5%

Many of these numbers are down – does that mean the market is tanking again? No. What we are seeing is simply a more normal market, one with numbers moving up and down depending on the particular properties available and selling. The underpinnings are good. Unemployment is down in Whatcom County, interest rates are good, people are moving in from other areas, new construction is increasing, and buyers are not under as much pressure to make a really fast decision. It is a much more rational market. And if we look at Whatcom County overall, we see this when comparing 1st Quarters:

  • Units Sold up 6.6% Average Sale Price up 3.5% Median Sale Price up 1.6%

So if you are looking to buy, take enough time to learn the market and think through a very important decision. If you are looking to sell, make sure you are offering the best product you can…because one thing never changes: the good ones sell first.