End of The Week Pending Ratios

If 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, December 6th, 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 25%

The Ferndale pending ratio was 31%

The Lynden pending ratio was 43%

The Sudden Valley pending ratio was 32%

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

Millennials Are on the Move as First-Time Homebuyers

Is Your First Home Now Within Your Grasp? [INFOGRAPHIC] | MyKCM

Some Highlights:

  • According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time homebuyers is 32.
  • With more millennials entering a homebuying phase of life, they are driving a large portion of the buyer appetite in the market, keeping buyer activity strong.
  • More and more “old millennials” (ages 25-36) are realizing that homeownership is now within their grasp, and they’re actively dominating the first-time homebuyer market! Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Today’s Most Current Mortgage Rates for Buying, Selling, or Refinancing

Thinking of buying, selling, or refinancing?  The mortgage rates are a must know! Interest rates are the rates at which money can be borrowed for a set period of time. The higher the rate, the more money a borrower must pay in the form of interest on the loan. When mortgage rates are lower, this makes the purchasing of a home more affordable. Although the cost of mortgages is closely tied to the interest rate, the price at which homes are sold does not always appear in direct correlation.

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



December by the Numbers

Knowing what’s happening in the real estate market is key to making your home search a successful one. Let’s connect to determine how low mortgage rates and more can drive your process forward. Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

4 Essential Tools You Should Have Around The House

When something breaks around the house, you may be tempted to call a professional to take care of the problem. While that’s a great idea when dealing with complex home maintenance tasks like electricity and plumbing, you could find yourself losing money paying the pros to tackle a quick fix that you could take care of yourself. When it comes to these basic repairs, all you really need are the right tools and the internet! Here are 4 tools that any homeowner should keep around in case you need to fix something yourself.

  1. Screwdrivers — Phillips head and flathead screwdrivers in a few different sizes are absolutely essential. Whether you need to tighten a loose doorknob, remove a light switch plate, or pry open a stubborn lid, a screwdriver will come in handy regularly. If you find yourself using them a lot for DIY projects or heavier duty repairs, you may even want to invest in an electric screwdriver/drill.
  2. Tape measure — Having an easy way to measure the full length of a room or space can save you the trouble of rearranging only to find out that something doesn’t fit. Plus, if you’re going shopping for new furniture, it allows you to know for sure how much space your new pieces can take up without displacing your other furniture.
  3. Pliers — It’s always a good idea to keep a few different types of pliers around. You may need them to get a good grip on something to loosen or tighten it, or to bend back a metal item that’s been bent out of shape. Plus, many types of pliers have a section of the jaws made to cut wire cleanly and easily.
  4. Utility knife — There may be no quicker way to injure yourself than using a kitchen knife or an open pair of scissors on something that you should be using a utility knife for! Pick up a good quality one with a retractable blade and keep it in a convenient spot so you can easily access it for opening packages and such.
  5. If you aren’t sure which tools are worth investing in, pick up a general toolkit as a starting point. Then, as you learn what other tools will become useful, you can add to your collection over time. If a project seems too large, there’s nothing wrong with calling a professional, but having tools on hand can be helpful!

Thanks to Sidney Stonecypher from People’s Bank for the information! Give her a call for any of your home mortgage needs at (360) 650-5365.

Is A Bigger House Within Your Budget?

At this time of year, many families come together to celebrate the season. It’s also the time when many realize their homes are just not quite big enough to host all of their guests and loved ones. Are you one of those homeowners dreaming for a larger space to call home?

You may have enough equity in your current home to move up.

According to the Q3 2019 U.S. Home Equity & Underwater Report by ATTOM Data Solutions,

“14.4 million residential properties in the United States were considered equity rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.”

This means that one in four of the 54 million mortgaged homes in the U.S. have at least 50% equity. If these homeowners decide to sell, they can use their equity to put toward the purchase of a new home. Maybe you’ll be one of them.

NAR recently released their 2019 Profile of Home Buyers and Sellers showing that,

“This year, home sellers cited that they sold their homes for a median of $60,000 more than they purchased it, up from $55,500 the year prior. This accounted for a 31 percent price gain, up from 29 percent the year before.”

Is A Bigger House Within Your Budget? | MyKCM

Here’s the equity gain breakdown based on the number of years these sellers lived in their homes

Bottom Line

If you’re one of the many homeowners with big dreams of owning a larger home, let’s get together. Working with a trusted advisor to find out how much equity you have is a great first step in putting your move-up plan in motion. Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

First December Pending Ratios!!

If 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 Monday, December 2nd, 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 25%

The Ferndale pending ratio was 30%

The Lynden pending ratio was 38%

The Sudden Valley pending ratio was 34%

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

It’s ‘National Roof Over Your Head’ Day!

It’s ‘National Roof Over Your Head’ Day! | MyKCM

Did you know that each year in the United States, we celebrate “National Roof Over Your Head Day” on December 3rd?

As noted on the National Calendar, it was “created as a day to be thankful for what you have, starting with the roof over your head. There are many things that we have that we take for granted and do not stop to appreciate how fortunate we are for having them.”

From bungalows to cottages, and farmhouses to treehouses, today we show our appreciation and gratitude for the places we call home. Owning the roof that shelters us is something many renters still aspire to, knowing there are so many financial and non-financial benefits to homeownership.

According to the 2019 State of the Nation’s Housing from the Joint Center for Housing Studies of Harvard University,

“Cost-burdened renters now outnumber cost-burdened homeowners by more than 3.0 million. In addition, renters make up 10.8 million of the 18.2 million severely burdened households that pay more than half their incomes for housing.”

Homeownership drives many benefits, including providing families with a place to feel secure. It also helps promote confidence that they are investing proactively in themselves and their communities. That is why there are 77.7 million owner-occupied housing units in the United States.

It’s ‘National Roof Over Your Head’ Day! | MyKCM

Many, however, fear it is too expensive to own a home. In reality, however, it’s actually more expensive to rent. Here’s the breakdown as a percentage of income necessary for both – affording median rent and owning a home:

Bottom Line

Today we pause to appreciate the places we call home, and all of the other reasons we have to be truly thankful. For those who don’t own yet and would like to, it’s a wonderful time to start identifying the steps to take toward homeownership. Let’s connect today to begin creating your plan. Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

5 Reasons to Sell This Winter

5 Reasons to Sell This Winter | MyKCM

Below are five compelling reasons to list your house this winter.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase, and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Inventory is still under the 6-month supply needed for a normal housing market. This means in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.

Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

Many homeowners were reluctant to list their homes over the last couple of years, for fear they would not find a home to move into. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you decide to sell.

3. Buyers Are Serious at This Time of Year

Traditionally, homeowners think about spring as a great time to list their homes, when more buyer traffic may be out there actively searching. In the winter, however, the buyers who are seeking a home – whether for relocation or otherwise – are serious ones. They’re ready to make offers and they’re eager to move, often quickly. Your house may be exactly what they’re looking for, so listing when other potential sellers are holding off may be your best opportunity to shine.

4. There Will Never Be a Better Time to Move Up

If your next move will be into the premium or luxury market, now is the time to move up. There is currently ample inventory for sale at higher price ranges. This means if you’re planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that now. Demand for your entry-level home is high, and inventory in the luxury or premium market is too.

According to CoreLogic, prices are projected to appreciate by 5.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and in your mortgage) if you wait.

5. It’s Time to Move On With Your Life

Look at the reason you decided to sell in the first place and determine whether it’s worth waiting. Is money more important than being with family? Are you ready to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market this winter. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important. Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

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

If you’re ready to put your housing costs to work for you, maybe it’s time to become a homeowner. Let’s connect to determine if moving from renting to buying is right for you. Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.