Happy Thanksgiving!

Blue Heron

Around Thanksgiving we all take a moment to think about all we have to be thankful for. In looking back on our lives, Lylene & I certainly have a lot to be thankful for. One of which is the place that our Family has called home for the past 100+ years – namely Whatcom County.

One of my favorite spots is Lake Padden. I try to fit in a walk around the lake as often as I can & the other day was able to snap this photo of a resident Blue Heron fishing on the dock. It once again, enforced the idea of what a very special place it is that we call “Home” & made me thankful that the Blue Heron was sitting at the edge of Lake Padden fishing & not at the edge of our pond eyeing out goldfish or koi.

As we approach this Thanksgiving Day, Lylene & I give thanks for all the people who contribute to our lives. We are grateful for our friends, family, and clients who not only support us, but bring me laughter, joy, mental stimulation, challenges, and triumphs. And of course, we’re thankful for all who give us the opportunity to earn an income and do our part in the world.
Since you are one of those people – we give thanks for you.

From our house to your house – Happy Thanksgiving!

Thanksgiving Week Ratios

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The 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, November 17th, the pending ratio in Bellingham was 43%. 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 38%

The Ferndale pending ratio was 31%

The Lynden pending ratio was 41%

The Sudden Valley pending ratio was 57%

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. 

Happy Birthday Mike!

Happy Birthday!

We wanted to send out some Happy Birthday wishes to our very own Mike Bredeson!!! We hope you have an amazing birthday!

Mortgage Rates Are In!

The mortgage rates are a great indicator of the current market! Check out the current rates here as of Thursday, November 16th.

 

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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.

Saturday Open House

Copy of COPENHAGEN

Join Rich Johnson on Saturday from 12pm – 2pm at 27 Inglewood Place in Bellingham for an open house! 

27 Inglewood Pl is a lovely 4 bedroom 2.5 bath home with large spaces for everyone & every activity. There are vaulted ceilings, skylights & huge windows which flood the interior with natural light. Two decks overlook a large private backyard that borders a lovely green space. It’s a great spot to play or just sit back & watch the world go by. Nearby, you can enjoy the 18 hole golf course, launch your kayak or try your luck at hooking a native cutthroat trout. It’s what dreams are made of.

For more information, visit our website.

Feeling ‘Stuck in Place’? You Aren’t Alone… And There’s Hope!

Feeling ‘Stuck in Place’? You Aren’t Alone… And There’s Hope! | MyKCM

Whether you are a renter who is searching for your dream home or a homeowner who feels like your only option is to renovate, you have at least one thing in common: feeling stuck in place.

According to data from the National Association of Realtors’ Profile of Home Buyers & Sellers, the average amount of time that a family stays in their home remained at 10 years in 2017. This mark ties the highest marks set in 2014 and 2016. Back in 1985, when data was first collected on this subject, homeowners stayed in their homes for an average of only 5 years.

There are many reasons why homeowners have decided to stay and not to sell. A recent Wall Street Journal article had this to say,

“Americans aren’t moving in part because inventory levels have fallen near multidecade lows and home prices have risen to records. Many homeowners are choosing to stay and renovate, in turn making it more difficult for renters to enter the market.” 

Sam Khater, Deputy Chief Economist for CoreLogic, equated the lack of inventory to “not having enough oil in your car and your gears slowly [coming] to a grind.”

Historically, a normal market (in which prices increase at the rate of inflation) requires a 6-7 month supply of inventory. There hasn’t been that much supply since August of 2012! Over the course of the last 12 months, inventory has hovered between a 3.5 to 4.4-month supply, meaning that prices have increased and buyers are still out in force!

Challenges in the new-home construction market have “helped create a bottleneck in the market in which owners of starter homes aren’t trading up to newly built homes, which tend to be pricier, in turn creating a squeeze for millennial renters looking to get into the market.”

“Economists said baby boomers also aren’t in a hurry to trade in the dream homes they moved into in middle age for condominiums or senior living communities because many are staying healthy longer or want to remain near their children.”

So, what can you do if you feel stuck & want to move on?

Don’t give up! If you are looking to move-up to an existing luxury home, there are deals to be had in the higher-priced markets. Demand is strong in the starter and trade-up home markets which means that your house will sell quickly. Let’s work together to build in contingencies that allow you more time to find your dream home; the right buyer will wait.

Give us a call toll free at (888) 713 – 3056 or email us at Info@JohnsonTeamRealEstate.com.

5 Practical Steps To Save For a Down Payment

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5 practical steps to save for a down payment

Determine how much you’ll need. Down payments generally range from 3% to 20% of your home’s purchase price, and the rest is your mortgage amount. So, contact us to find out the mortgage amount you qualify for. We’ll then explain your down payment options, so you can decide which option best fits your needs.

Calculate what you need to save monthly. Target when you’d like to purchase, which tells you how many months you have to save. If you’ve already set money aside, subtract that from the down payment amount. Divide this number by the number of months until purchase, and that’s what you’ll need to save monthly.

Open a separate savings account that automatically transfers from your checking account the monthly amount you need to save.

Track your spending. Carefully look at your credit card bills and checkbook to see where you can cut back non-essential expenditures, such as movies and meals out.

Trim recurring expenses. Shop for lower costs for cell phones, cable TV, internet, utilities, car, home, health insurance, etc.

For more information, feel free to email us at Info@JohnsonTeamRealEstate.com or call us toll free at (888) 713-3056.

The Holiday Season is here! It’s Wassail time!

WassailThanksgiving is next week and with that comes the food and beverages of the holiday season.

No matter what holiday you embrace and choose to celebrate there always is some sort of tradition that symbolizes the holiday season to you. For The Johnson Team the holiday tradition Lylene making her famous “wassail”.” Those that do not know what Wassail is, it is a wonderful holiday drink that is a combination of fruit juices and spiced that will keep you home smelling like the holidays and provide a cup of cheer for all ages.

If you would like to try making Wassail for yourself or your next holiday party follow the recipe below:

  • 1 can frozen apple juice concentrate
  • 1/2 can orange/pineapple juice concentrate
  • 3 1/2 cans water
  • 3 cinnamon sticks
  • 10-12 whole cloves
  • 1 tsp ground nutmeg

Make in a pot on the stove, a crock pot or a coffee maker used solely for wassail. Enjoy!

Multigenerational Households May Be the Answer to Price Increases

Multigenerational Households May Be the Answer to Price Increases | MyKCM

Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to an article by Realtor.com, “Nearly 1 in 5 Americans is now living in a multigenerational household – a household with two or more adult generations, or grandparents living with grandchildren – a level that hasn’t been seen in the U.S. since 1950.”

Another report that proves this point is the National Association of Realtors’ (NAR) 2017 Profile of Home Buyers and Sellers which states that 13% of home buyers purchased multigenerational homes last year. The top 3 reasons for purchasing this type of home were:

  1. To take care of aging parents (22%, up from 19% last year)
  2. Cost savings (17%)
  3. Children over the age of 18 moving back home (16%, up from 14% last year)

Valerie Sheets, Spokesperson for Lennar, points out that,

“Everyone is looking for the perfect home for any number of family situations, such as families who opt to take care of aging parents or grandparents at home, or millennials looking to live with their parents while they attend school or save for a down payment.”

For a long time, nuclear families (a couple and their dependent children) became the accepted norm, but John Graham, co-author of “Together Again: A Creative Guide to Successful Multigenerational Living,” says, “We’re getting back to the way human beings have always lived in – extended families.”

This shift can be attributed to several social changes over the decades. Growing racial and ethnic diversity in the U.S. population helps explain some of the rise in multigenerational living; “Data suggest that multigenerational living is more prevalent among Asian (28%), Hispanic (25%), and African-American (25%) families, while U.S. whites have fewer multigenerational homes (15%).”

Additionally, women are a bit more likely to live in multigenerational conditions than are their male counterparts (12% vs. 10%, respectively). Last but not least, basic economics.

Valerie Sheets brings to light the fact that home prices have been skyrocketing in recent years. She says that, “As home prices increase, more families tend to opt for living together.”

Bottom Line 

Multigenerational households are making a comeback. While it is a shift from the more common nuclear home, these households might be the answer that many families are looking for as home prices continue to rise in response to a lack of housing inventory.

Start of November Pending Ratios

45386780 - house sale.

The 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, November 10th, the pending ratio in Bellingham was 42%. 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 39%

The Ferndale pending ratio was 32%

The Lynden pending ratio was 38%

The Sudden Valley pending ratio was 56%

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