4 Reasons to Sell This Fall

 

4 Reasons to Sell This Fall [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Buyer demand continues to outpace the supply of homes for sale! Buyers are often competing with one another for the listings that are available!
  • Housing inventory is still under the 6-month supply that is needed for a normal housing market.
  • Perhaps the time has come for you and your family to move on and start living the life you desire. Give The Johnson Team a call at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Net Worth of Homeowners 44X Greater than Renters

Net Worth of Homeowners 44X Greater than Renters | MyKCM

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.

The study revealed that the 2016 median net worth of homeowners was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.
Owning a home is a great way to build family wealth

As we’ve said before, simply put, homeownership is a form of “forced savings.” Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why, for the fourth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.
Greater equity in your home gives you options

If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process. If you have any questions or need any help, call or email us at (888) 713 – 3056 or email us at Info@JohnsonTeamRealEstate.com.

Beginning of October Pending Ratios!

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 Tuesday, October 11th, the pending ratio in Bellingham was 40%. 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 35%

The Ferndale pending ratio was 40%

The Lynden pending ratio was 30%

The Sudden Valley pending ratio was 39%

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

No! You Do Not Need 20% Down To Buy Now!

 

No… You Do Not Need 20% Down to Buy NOW! | MyKCM

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not being able to afford one.

This brings us to two major misconceptions that we want to address today.

1. Down Payment

NAR’s survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 39% of non-homeowners say they believe they need more than 20% for a down payment on a home purchase. In actuality, there are many loans written with a down payment of 3% or less.

Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO Scores

An Ipson survey revealed that 62% of respondents believe they need excellent credit to buy a home, with 43% thinking a good credit score is over 780. In actuality, the average FICO®Â scores of approved conventional and FHA mortgages are much lower.

The average conventional loan closed in August had a credit score of 752, while FHA mortgages closed with a score of 683. The average across all loans closed in August was 724. The chart below shows the distribution of FICO Scores for all loans approved in August.

No… You Do Not Need 20% Down to Buy NOW! | MyKCM

Bottom Line

If you are a prospective buyer who is ready and willing to act now, but are not sure if you are able to, let’s sit down to help you understand your true options. Give us a call at (888) 713 – 3056 or email us at Info@JohnsonTeamRealEstate.com.

Don’t Miss Out On This Home!

front of house 1

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.

Additional Information

  • Property Description Cable TV, Deck, High Speed Internet
  • Taxes $2,594
  • View Territorial
  • Lot Size 0.27 Acre (11,808 SqFt)
  • Garage Size 2 Car
  • Exterior Wood Products
  • Heating/Cooling Central Air, Forced Air, High Efficiency
  • Roof Composition Roof
  • Flooring Hardwood Floor, Vinyl Floor, Wall to Wall Carpet

School Information

  • District BEL
  • Elementary Geneva Elem

For more information, visit our website!

The latest in Home Loan and Mortgage Rates!

Have you been staying up to speed on the latest in home loan and mortgage rates? 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 October 5th, courtesy of Sidney Stonecypher at People’s Bank.

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For more details, or a custom home loan quote, contact Sidney Stonecypher at People’s Bank at 360-676-4597.

12 Tips to Improve Your Online Security

Thanks to Sidney Stonecypher at People’s Bank for these online security tips!

 

Install updates immediately. They often patch the latest viruses.

Get anti-virus software for all devices.

Watch devices. Hackers install spyware in under 30 seconds.

Strengthen passwords. Use caps and lower case, numbers, punctuation marks. Write in an address book. If hacked, change passwords. Never re-use passwords.

Get two-factor authentication. Adds an extra step at log-in, usually sends a text with a code. You’ll know if anyone tries to log in from another device.

Avoid free Wi-Fi. Public Wi-Fi draws hackers. Make your smartphone a password-protected mobile hotspot and connect.

Keep data to yourself. Don’t store credit card info and passwords on sites or browsers. Enter it each time.

Don’t click on a link in an email or text, even from someone you know (hackers hijack contacts). Hover your mouse over link, or copy and paste it into a search engine, to see where it goes.

Don’t download unexpected attachments. Call sender first.

Back everything up. Use outboard hard drive, cloud service, or both. Then ransomware criminals can’t hold your data for ransom because you always have an up-to-date copy.

Use a credit monitoring service, such as EZ Shield, Identity Guard or Lifeflock. If hacked, freeze accounts at all three credit bureaus.

Slow down! Hackers love people in a hurry. Carefully check details.

If you’re looking to buy or sell a home, give us a call today at (888) 713 – 3056 or email us at Info@JohnsonTeamRealEstate.com.

Curious the Value of Your Lake Samish Home?

Wondering how the active real estate has impacted the value of your home?

Enter your address below for a INSTANT and FREE home value report.Lake Samish Home Values

If you don’t already live on Lake Samish, learn more about the area here!

Located just South of the Bellingham city limits is the beautiful tree-lined Lake Samish area. Homes dot the shores of the pristine lake, while others perch high above on the surrounding hillsides all the while boasting breathtaking territorial views. These well-crafted homes provide lovely vantage spots to enjoy the local scenery and convenient access to the area’s recreational activities like canoeing, boating and water skiing.

Lake Samish is home to a county boat launch and also a county park  located at the North end of the lake. The park is home to a swimming area and a day lodge great for small family gatherings or business meetings.

If you would like to call the Lake Samish area home you can search for real estate available in the area on our Lake Samish Real Estate page on our website.

Silver Beach Home!

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Wow, what a location. Silver Beach 5 bedroom (or 4 with an office) 3.5 bath home on a level lot in a cul de sac. It just doesn’t get any better. Nice rec room with 2 bedrooms and a bath above the 3-car garage. Open kitchen with Granite counters looks onto the family room. Slider onto the patio, enjoy the sun filled, south facing, back yard. The lot is huge and the parking spot is there for the RV or Boat. Home is close to lake, in great condition and ready for new memories. All of this for $525,000.

Additional Information

  • Property Description Cable TV, High Speed Internet, Patio, RV Parking
  • Taxes $4,428
  • View Territorial
  • Lot Size 0.28 Acre (12,197 SqFt)
  • Garage Size 3 Car
  • Exterior Cement Planked
  • Fireplaces 1 Fireplace
  • Heating/Cooling Forced Air
  • Roof Composition Roof
  • Flooring Bamboo/Cork, Ceramic Tile Floor, Wall to Wall Carpet

School Information

  • District BEL
  • Elementary Silver Beach Elem
  • High Squalicum High

For more information, visit our website!

Should I Buy a Home Now? Or Wait Until Next Year?

 

Should I Buy a Home Now? Or Wait Until Next Year? [INFOGRAPHIC]| MyKCM

Some Highlights:

  • The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
  • Freddie Mac predicts interest rates to rise to 4.4% by next year.
  • CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months.
  • If you are ready and willing to buy your dream home, find out if you are able to! Give us a call at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.