Learn the Value of Your Ferndale, Washington Home

Do you own a home in Ferndale, Washington?

Learn the value of your Ferndale area home instantly with this convenient instant home value report!

Ferndale Home WorthReceive a report detailing your home’s value in today’s market directly to your email inbox.

Don’t currently own a home in Ferndale, but interesting in learning more about the area?

Ferndale is a thriving community surrounded by fertile farmland and is famous for its “Baker to Bay” views for the ridges west of town. It celebrates its history with Hovander Park (featuring a turn of the century Hovander Farm), the Scottish Highland Games and the Civil Way re-enactment. Ferndale’s location on the river also provides it with unique ecological features which the Whatcom County Park Department has made available to the public in the Tennant Lake Interpretive Center, Fragrance Garden and Lake Terrel Wildlife Refuge

Search for Ferndale Real Estate on our website today!

Ferndale Home Search

#GIVINGTUESDAY The Johnson Team Gives Back!

Johnson Team Real Estate is excited to be giving back to our community this holiday season and throughout the year!

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The Johnson Team Moving Truck is available to local non-profits for FREE, as our thank you for them giving back to our community.  Watch for the Johnson Team Moving Truck at this year’s Jingle Bell Run to benefit the Arthritis Foundation and around the community gathering gifts for those in need via the non-profit Operation Doing More.  Operation Doing More is a local non-profit working to rally the people and businesses in the community to DO MORE to give back to those less fortunate.

Your real estate referrals let us provide help to Whatcom county non-profit organizations who benefit our community.

Please think of us when a friend or relative talks about moving – and tell your favorite non-profit to give us a call when they need a truck!

If you would like to learn more or schedule the Johnson Team Moving Truck call us call at (360) 303-2734 today!

Thanksgiving Week Pending Ratios

 

Keys HandThe 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 22nd, 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 36%

The Ferndale pending ratio was 34%

The Lynden pending ratio was 46%

The Sudden Valley pending ratio was 53%

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

Homeowners: Your House Must Be Sold TWICE

Homeowners: Your House Must Be Sold TWICE | MyKCM

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.

Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, and an appraiser’s evaluation of that same home.

Bill Banfield, Executive VP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge:

“Based on the HPPI, it appears homeowners in the markets where prices are rising faster than the national average – like Denver, Seattle and San Francisco – are continuing to underestimate just how quickly home values are rising, so the average appraisal is higher than homeowner estimate.

On the inverse of that, homeowners in areas where the values aren’t rising as fast may think they are rising faster than they are, leading to the appraisal lagging the estimate.”

The chart below illustrates the changes in home price estimates over the last 12 months.

Homeowners: Your House Must Be Sold TWICE | MyKCM

Bottom Line

Every house on the market must be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, let’s get together to discuss this and any other obstacles that may arise. Give us a call toll free at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

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

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 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.