March Madness! The Current Whatcom County Pending Ratios

Bellingham REal Estate for saleIf you have been following the local real estate market you know it’s active and inventory is low. If you are thinking of selling now is the time!

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, March 22nd, the pending ratio in Bellingham was 49%. 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 28%

The Ferndale pending ratio was 42%

The Lynden pending ratio was 51%

The Sudden Valley pending ratio was 63%

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

20 Tips for Preparing Your House for Sale This Spring

20 Tips for Preparing Your House for Sale This Spring [INFOGRAPHIC] | MyKCM

Some Highlights:

  • When listing your house for sale, your top goal will be to get the home sold for the best price possible!
  • There are many small projects that you can do to ensure this happens!
  • Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help! Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

4 Reasons This Spring Market Is Better Than Last Year

If you’re looking to buy or sell a home this year, now is a great time! Let’s get together today to go over what is happening in the Spring Market and what it means for you. Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Is Your House Priced To Sell Immediately (PTSI)?

Is Your House Priced To Sell Immediately (PTSI)? | MyKCM

In today’s real estate market, with more houses coming to market every day and eager buyers searching for their dream home, setting the right price for your house is one of the most important things you can do.

According to CoreLogic’s latest Home Price Indexhome values have risen at over 6% a year over the past two years, but have started to slow to 4.4% over the last 12 months. By this time next year, CoreLogic predicts that home values will be 4.6% higher.

With prices slowing from their previous pace, homeowners must realize that pricing their homes a little OVER market value to leave room for negotiation will actually dramatically decrease the number of buyers who will see their listing! (see the chart below)Is Your House Priced To Sell Immediately (PTSI)? | MyKCMInstead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so that demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple buyers competing with each other over the house.

The key to selling your house in 2019 is making sure your house is Priced To Sell Immediately (PTSI)! That way, your home will be seen by the most buyers and will sell at a great price before more competition comes to market!

Bottom Line

If you are debating listing your house for sale, let’s get together to discuss how to price your home appropriately for our area and maximize your exposure this Spring Market! Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Is Your Smart Home Safe? The Risks and Benefits of “Smart” Appliances

Untitled design (2)

From 3D printers to self-driving cars, the science fiction dreams of the 80s and 90s are coming true right and left these days. But as we welcome the Internet of Things into our lives and homes, are we also welcoming security risks?

It’s easy to write off smart technology as ridiculous — after all, who needs a refrigerator that’s connected to the internet? But smart devices can come with a lot of practical benefits. For example, a smart refrigerator can log and notify you about expiration dates, saving money and preventing waste.
You may consider incorporating smart technology into your home in order to improve security with the ability to remotely lock doors and arm security systems, as well as use cameras to monitor activity in and around your house. Smart devices can conserve power when not in use, lower the thermostat when you’re not at home, and maximize efficient energy use in common tasks, like boiling water or taking a shower. And with that reduced energy use comes reduced utility costs. (Is a smart fridge starting to look a little less ridiculous yet?)
Of course, once you have a smart fridge, a new worry is added to your plate: Can your fridge be hacked? You may laugh, but once your home and security are tied to technology, you face risks if that technology isn’t secure.
Many apps can do more than they need to. For convenience, many smart apps will group permissions. This means if an app can lock a door, it can also unlock that door — even if it doesn’t need to.
Inter-device communication isn’t always secure. Smart homes function by linking all your devices together via the internet. (That’s how you can use Alexa or Google Home to turn on the lights or open the garage door.) In order to do this, devices send information to each other — information that could be intercepted.
As smart devices get cheaper, they get riskier. Right now, a smart fridge is significantly more expensive than a standard one. But as the technology gets more streamlined, it will get more common — and as with any product, some manufacturers will cut corners in order to reduce cost.
One weakness is all it takes. If one of your smart devices gets compromised, that weakness can expose your whole system. Maybe the device that opens your garage is secure, but if the other devices that link to it aren’t, it could still be at risk.
These concerns are no longer speculative — almost one in four homes has a smart speaker now, and as they get more affordable, that number will continue to rise. It’s crucial that homeowners are fully aware of how their smart tech works, what permissions that tech has, and what they can do to defend their home from the cyberattacks that could expose them to theft. In other words: Be smart about your smart home.
Thank you Sidney Stonecypher at People’s Bank Home Loan Center for the information. If you have any mortgage questions you can reach her at 360-650-5365!

Lynden Condo Open House Saturday, 12pm to 2pm at 149 Creekview Crest

Join Mike Bredeson this Saturday, March 23rd from 12pm to 2pm as he hosts an open house at 149 Creekview Crest in lovely Lynden!

JUST LISTED!(7)

Single story 55+ condo in the Ridgecreek Condominiums. This is a 2 bedroom with an office all on 1 level with a ton of natural light. The kitchen is open to the living space,with granite countertops and will make you feel like you won’t miss a thing. The master bedroom looks onto the private yard and greenspace. The sunny patio is a great spot for the summer barbeque. And don’t forget to look at the mowed common area below- perfect for throwing the ball with “Fido”. Not a step in the home.

Additional Information:

  • Taxes: $3,233
  • HOA Dues: $300
  • Exterior: Cement/Concrete
  • Fireplaces: 1 Fireplace
  • Heating/Cooling: Radiant

To schedule a showing prior to the open house call Mike today at 360.303.2734!

Take a Tour with Mike Through His New Lynden Listing!

JUST LISTED!

Single story condo in Lynden’s premier Ridgecreek Condominiums.

This is a 2 bedroom with an office all on 1 level with a ton of natural light. The kitchen is open with granite countertops throughout and will make you feel like you won’t miss a thing. Nice open floor plan. The master bedroom looks onto the private yard and greenspace. The sunny patio is a great spot for the summer barbeque. And don’t forget to look at the mowed common area below- perfect for throwing the ball with “Fido”.

Priced at $389,000

2 bedrooms, 2 bathrooms and 1,679 square feet.

To learn more or to schedule a private showing call (360) 303-2734 today!

Want To Increase Your Family’s Wealth? Here’s How!

Everyone should realize that unless you are living somewhere rent-free, you are paying a mortgage – either yours or your landlord’s. Buying your own home provides you with a form of ‘forced savings’ that allows you to use your monthly housing costs to increase your family’s wealth.

Every month that you pay your mortgage, you are paying off a portion of the debt that you took on to purchase your home. Therefore, you own a little bit more of your home every month in the form of home equityAs your home’s value increases, you also gain home equity.

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists. They are asked to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

The latest data from their Q1 2019 Survey revealed that home prices are expected to round out the year 4.3% higher than they were in January. For the next 5 years, home values will appreciate by an average of 3.21% a year.

This is great news for homeowners!

For example, let’s assume a young couple purchased and closed on a $250,000 home in January of this year. Simply through their home appreciating in value, those homeowners can build their home equity by over $40,000 over the next five years.

Want To Increase Your Family’s Wealth? Here’s How! | MyKCM

Let’s look at the potential equity gained over the same period of time at some higher price points:

Want To Increase Your Family’s Wealth? Here’s How! | MyKCM

In many cases, home equity is a large portion of a family’s overall net worth.

Bottom Line

Whether it’s your first or your fifth, if your plan for this year includes buying a home, let’s get together to help you understand where prices are headed in our area. Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

The Cost of Renting vs. Buying 2019

The latest reports indicate that homeownership is still cheaper than renting in the United States. Let’s get together to find you your dream home – it may be cheaper than you think! Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Don’t Let Your Luck Run Out! Buy A Home This Spring

Don’t Let Your Luck Run Out! Buy A Home This Spring [INFOGRAPHIC] | My KCM

Some Highlights:

  • Interest Rates for a 30-year fixed rate mortgage have dropped to 4.41% from near 5% in 2018.
  • Take advantage of more inventory coming to market in the spring to find your dream home!
  • Buying now will allow you to start earning equity today! Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.