Buying, Selling, or Refinancing? Know The Mortgage Rates!

Thinking of buying, selling or refinancing? The mortgage rates are a must know! People’s Bank Home Loan Center passed along today’s rates to us. Below is a chart showing the rates as of yesterday, September 13th!

Sept13

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!

Looking for a 15 year Loan? 30 Year? FHA? The Purchase Rates Are In!

Thinking of buying, selling or refinancing? The mortgage rates are a must know! People’s Bank Home Loan Center passed along today’s rates to us. Below is a chart showing the rates as of yesterday, August 30th!

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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!

August 10th Pending Ratios for Whatcom County

GetMediaIf 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, August 10th, the pending ratio in Bellingham was 38%. 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 26%

The Ferndale pending ratio was 41%

The Lynden pending ratio was 44%

The Sudden Valley pending ratio was 54%

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

Beginning of August Mortgage Rates

Thinking of buying, selling or refinancing? People’s Bank Home Loan Center passed along today’s rates to us. Below is a chart showing the rates as of Thursday, August 2nd.

 

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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!

Crystal Ball Real Estate take on the Whatcom County Market

Curious what’s happening in the local real estate market and where we are headed?

Here is my “Crystal Ball Real Estate take on the Whatcom County Market”. 

Market Snap Shot July 2018

If you look at the figures in the graph above, you’ll see demand for homes continuing to outstrip supply which, in the long run, leads to rising home prices.  If you drill down into sales of the past 30 days, you find 45% closed higher than the list price, 40% sold at list price & 25% sold for less than list price.

While at first blush the take away might seem it’s full steam ahead, a more cautionary approach may be the order of the day. Reports from the Seattle market indicate their market is softening.  For example, they are experiencing a decline in the number of multiple offers, a decline in the number of people participating in multiple offers & listed properties going beyond their offer review dates.

The Northwest Multiple Listing Service is reporting increasing inventory with decreasing demand & a general softening of the market. We generally follow the Seattle market, so if their market is trending one way or the other, ours is soon to follow.

Nationally, the Wall Street Journal just published a survey of 35 Economists who, collectively, are predicting an economic downturn by 2020.  This same downturn is being mirrored by a recent Pulsenomics survey of economists as well.

In conclusion, Buyers & Sellers may need to adjust accordingly.  Follow closed sales, percentage of list price to sold prices, days on market & be aware that change is in the wind. If you have questions about any of these statistics, Mike & I would be happy to help you in any way we can.

Call us today at 1-888-713-3056 or email us at Info@JohnsonTeamRealEstate.com to discuss your real estate needs today!

Happy July!

Happy Monday! 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, June 29th, the pending ratio in Bellingham was 48%. 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 33%

The Ferndale pending ratio was 42%

The Lynden pending ratio was 45%

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

End of June Rates!

Thinking of buying, selling or refinancing? People’s Bank Home Loan Center passed along today’s rates to us. Below is a chart showing the rates as of yesterday, June 28th.

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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!

Are We Feeling the Shockwaves of Seattle’s Market?

The headline on the front page of The Seattle Times this morning is “Home Prices Jump in South Seattle”.  The article goes on to say the City’s median house price is now nearly $820,000. We feel the shock waves of the Seattle market here in Whatcom County as more Seattleites search up & down the I-5 corridor to find an affordable home.

More often than not, one hears “how can local folks afford to buy a home here”? Many times the buyers are people displaced by the high prices of the Seattle market & searching out a place for their family. Terms we are hearing now include “Pressure Cooker Market”, “Surging Prices”, “Instant Response Market” rather than a “Quick Action Market”.  No matter what terms you prefer to use, know that our local real estate market will continue to rise, inventory will be in short supply & while interest rates will continue to rise, it’s doubtful to me that it will do much to slow things down.

Here’s a great visual on the number of homes available overtime:

April 2018 Snap Shot

If you or your friends or family have questions about the market, Mike & I would be more than  happy to help you make some sense out of it.  Give us a call at 360 303 2734.

 

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

Whether You Rent or Buy, Either Way You're Paying a Mortgage! | MyKCM

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage as opposed to paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.22% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy. Give us a call at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

New Pending Ratios!

Homes by EmailThe 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, February 2nd, the pending ratio in Bellingham was 50%. 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 42%

The Ferndale pending ratio was 32%

The Lynden pending ratio was 42%

The Sudden Valley pending ratio was 61%

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