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

Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner!

Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner! | MyKCM

In a CNBC article, self-made millionaire David Bach explained that: “Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.

Bach suggests that homebuyers should, “Take out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, 15 years.”

How does he suggest you do this? Here’s the secret:

“…If you were paying $1,000 a month, now you’re going to make $1,100 payments every month. Inform the bank that you are doing this and that you want the extra $100 a month to be applied to the principal (not the interest).”

What will happen to your mortgage?

Bach explains that, “If you keep this up, you’ll wind up paying off your 30-year mortgage in about 25 years. Increase your monthly payment by 20 percent, and you’ll have that mortgage retired in about 22 years.”

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – buy a home and pay off your mortgage early so that you can retire sooner with the money you will have saved!

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

He has been a contributor to NBC’s Today Show, appearing more than 100 times, as well as a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS. He has also been profiled in many major publications, including the New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, Washington Post, the Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.
If you have any questions about buying or selling a house, contact The Johnson Team today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstae.com.

Pending Home Ratios For Whatcom County

House Front 4If 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 3rd, the pending ratio in Bellingham was 46%. 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 37%

The Lynden pending ratio was 43%

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

Just Listed Lummi Island Custom Home That Overlooks Private Cove

Don’t miss out on this one of  a kind Lummi Island home and property! 1471 Seacrest Drive on Lummi Island is the oasis  you have been looking for!

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Peace, quiet, total seclusion & an expansive view of water & mountains could be yours in this unique home & property. This custom designed & built home overlooks a private cove, Haro Strait, Mt Baker & Twin Sisters. The floor plan is open, airy, well lit & inviting with expansive windows keeping you in touch with the beauty around you. A private path provides access to either the beach of Sun-Rise Cove with your boat anchored in front or up secret trails to explore. This is a dream come true.

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Come visit us at an open house this Sunday, August 5th from 1pm – 3pm.

For more information, view the virtual tour here or call us at 1-888-713-3056 today!

Custom Built Bellingham Home With Views Just Listed

JUST LISTED!

Amazing custom built home with views from almost every window! 4660 Raptor Lane in Bellingham is what dreams are made of.

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Bellingham Bay, the Islands, Chuckanut Mtn, Lookout Mtns & everything in between, it’s there from the windows & deck of 4660 Raptor Ln. Add some fog, a bit of mist, a setting sun & you then have the lifestyle everyone dreams about but too often slips by. Inside is a gorgeous custom home with beautiful hardwood floors, a kitchen to inspire cook & guests alike & a large master bedroom with elegant bath. Outside is a gardeners dream with sun, plantings, water feature, secret paths & privacy.

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Come visit us at an open house this Sunday, August 5th from 1pm – 3pm.

For more information, view the virtual tour here. 

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!

Buying Is Now 26.3% Cheaper Than Renting in the US

Buying Is Now 26.3% Cheaper Than Renting in the US | MyKCM

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States.

In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas.

It’s no surprise, however, that those two metros are San Jose and San Francisco, CA, where median home prices have jumped to over $1 million dollars this year. Home values in San Jose have risen 29% in the last year, while rents have remained relatively unchanged.

For the 98 metros where homeownership wins out, 97 of them show a double-digit advantage when buying. The range is an average of 2.0% less expensive in Honolulu (HI), all the way up to 48.9% in Detroit (MI), and 26.3% nationwide!

Below is a map of the 100 metros that were studied. The darker the blue dot on the metro, the cheaper it is to buy there.

Buying Is Now 26.3% Cheaper Than Renting in the US | MyKCM

In order to calculate the true cost of renting vs. buying, Trulia includes all assumed renting costs, including one-time costs (like security deposits), and compares them to the monthly costs of owning a home (insurance, mortgage payments, taxes, and maintenance) including one-time costs (down payments, closing costs, sale proceeds). They also assume that households stay in their home for seven years, put down a 20% down payment, and take out a 30-year fixed rate mortgage. The full methodology is included with the study results here.

Below is a chart created with the data from the last six years of the study, showing the impact of the median home price, rental price, and 30-year fixed rate interest rate used to calculate the ‘cheaper to buy’ metric.

Buying Is Now 26.3% Cheaper Than Renting in the US | MyKCM

In 2016, when buying was 41.3% less expensive than renting, the average mortgage rate was the driving force behind the difference. Rates this year are the highest they have been in six years which has narrowed the gap, all while home price appreciation has also been driven up by a lack of homes for sale.

Cheryl Young, Trulia’s Chief Economist, had this to say,

“One point deserves emphasizing: The ultra-costly San Francisco Bay Area is not a harbinger for the nation as a whole. While renting may outweigh buying in San Jose and San Francisco, it is unlikely that renting will tip the scales nationally anytime soon.”

Bottom Line

Homeownership provides many benefits beyond the financial ones. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home. Give The Johnson Team a call today! (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Move In Ready Home Just Listed!

Johnson Team Sold

Excellent move in ready home in pristine condition. Take a look at 8404 Treevue Lane in Birch Bay just listed by Mike Bredeson.

This home is just up the hill from waters of Birch Bay. The view is nice and the home is in pristine condition. Built on site in 2010, with a corner lot that is over 7,000 SQ feet. The home features 3 bedrooms and 1.75 baths and is efficient in how the space was used. One of the bathrooms is off the master which features a walk-in closet and a slider onto the patio. A nice open floor plan at 864 square feet. Outside a level yard, carport and even a storage shed. Sunny SW exposure too! Not a Trailer.

Give The Johnson Team a call today to schedule a private showing! (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

For more information – http://johnsonteamrealestate.com/WA/Bellingham/8404-Treevue-Rd/1337288/direct

Just Listed! Lake Whatcom View Home

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Take a look at this amazing Lake Whatcom view home located  at 2305 Agate Heights Lane in Bellingham

This gorgeous home is on a wonderful setting on this Lake Whatcom View home. Just a short drive out Northshore in Bellingham you will find Agate Heights Lane. The private setting is just a bonus as the view is really what this home is all about. The deck faces southerly and feels very private. 4 bedrooms- means room for everyone, master is on the main plus 2 bedrooms up and one down with the Rec Room. There is even a fenced yard. Oh and the A/C is handy on the hot summer days. This home is at the end of the road.

Give The Johnson Team a call today to schedule a private showing of this home at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

For more information – http://johnsonteamrealestate.com/WA/Bellingham/2305-Agate-Heights-Lane/1335293/direct

You Need an Agent Who Will Always Put You First

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Whether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move to, as well as the trends of that area, should be your goal while home shopping.

One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on ABC’s Modern Family, Phil Dunphy.

For those who aren’t familiar with the character, Phil is a REALTOR® with a huge heart who always strives to do his best for his family and his clients.

In one episode, he even shared an oath that he created and holds himself accountable to:

“On my honor, I promise to aid in man’s quest for shelter, to recognize I’m not just in the business of houses — I’m in the business of dreams in the shape of houses. To disclose all illegal additions, shoddy construction, murders, and ghosts. And to put my clients’ needs before my own.” 

While this might seem silly, as it was definitely written with humor in mind, the themes of helping someone achieve the American Dream and putting a client’s needs above his own are not to be taken lightly.

Bottom Line

When you make the decision to enter the housing market, as either a buyer or a seller, make sure you look for an agent who exemplifies these values and will help you through every step of the process. Give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.