June 8th Pending Ratios!

Front #4Happy June! The market continues to be active with inventory running 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 15th, the pending ratio in Bellingham was 49%. 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 31%

The Ferndale pending ratio was 41%

The Lynden pending ratio was 52%

The Sudden Valley pending ratio was 58%

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

Mortgage Rates!

Mortgage rates are an important factor in many aspects of buying, selling, or refinancing a home. In order to be an informed home buyer, the rates are a must know! And here are the most current rates as of June 7th.

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

JUST LISTED! Geneva Neighborhood Home

GetMedia (13)Just listed! 4 bedroom, 2.5 bathroom Geneva Neighborhood home in  Belingham!

Tucked away at the end of a private cul de sac is this gorgeous 4 bedroom home. The minute you enter, you know you are in for a real treat as you experience well-designed spaces, natural light flooding through the windows, gleaming hardwood floors that appear to be brand new, soaring ceilings & high grade finishes used throughout. Whether it’s early morning coffee on the front porch, a thoughtful moment in the gardens or a special celebration on the back deck, this home is built for enjoyment.

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Join us for an open house on Sunday, June 10th from 1pm – 3pm at 1363 S Parkstone Court in Bellingham. Don’t miss out on this turn key home in a great neighborhood.

For more information, visit the virtual tour here. 

June Pending Ratios!

Enrty-1-768x512Happy June! The market continues to be active with inventory running 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 1st, 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 38%

The Ferndale pending ratio was 43%

The Lynden pending ratio was 47%

The Sudden Valley pending ratio was 59%

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

Do You Know About Your Veteran Home Loan Benefits?

Veteran Home Loans Bellingham

As a Veteran you understand making big life decisions and you should have a real estate agent who understands the same. Buying a home is likely to be one of the biggest purchases of your life and a trusted and experienced real estate agent to walk you through the process is crucial. This is especially true if you are a Veteran and plan to use a VA loan for your purchase.

Johnson Team Real Estate, located in Bellingham, Washington is proud to have two Veterans on our real estate Team, Rich Johnson and Mike Bredeson. As former Marine’s and Veterans, both Rich and Mike are here for you to offer their first hand expertise on navigating the home buying process using a VA loan.

Meet and learn more about Johnson Team Real Estate’s Veteran Agents today!

Having the ability to use a VA mortgage comes with many benefits, but sometimes they can be a bit hard to understand as well. Johnson Team Real Estate is here to offer our experience to help guide you through purchasing a home or property using a VA Home Loan.

Established in 1944, the Department of Veterans Affairs has made buying a home more accessible via the VA Home loan program. As a Veteran, you and your family deserve the American dream of owning a home, and deserve to be able to do so with ease.

VA Home Loans Offer Many Benefits including:

  • No down payment requirement
  • Lower than average interest rates
  • Low Closing Costs
  • Less stringent Credit Requirements

Curious if you are eligible for a VA Home Loan?

Typically, Veterans and active-duty service members are eligible for a VA home loan if they have met one of the following:

  • 90 consecutive days on active duty during wartime
  • 181 consecutive days on active duty during peacetime
  • 6 or more years in the National Guard or Reserves

Some spouses of military members who died in the line of duty or of a service-related disability may also be eligible for a VA loan. There are many factors that affect the terms of Veteran’s VA qualifications so speaking with a qualified VA Home Loan Specialist for a personalized qualification is crucial. Call Johnson Team Real Estate at 1-888-713-3056 to learn more today.

Veterans Flag House

The Johnson Team’s Veteran Real Estate Agents are passionate about helping those who have served and are excited to help serve you in finding you a home or property.

Whether you are a retired Veteran or currently serving in the US Military we understand that life is busy. The Bellingham and Whatcom County real estate market is very active and inventory is moving quickly. Johnson Team Real Estate offers a “Homes by Email” service to instantly email you when a home or property that fits you criteria comes on the market. Click the image below to learn more and sign up today!

New Bellingham Real Estate Listings

If you or your family are new to the area or possibly being transferred to Bellingham or Whatcom County our website has a wealth of relocation information to include neighborhood information, education information and generMap Searchal community information to make your move easier!

You may also search for real estate using our interactive map search to help you better understand areas geographical layout while exploring our real estate options.

Feel free to visit our relocation page on our website to call 1-888-713-3056. Johnson Team Real Estate thanks you for your service to our great country and we would be honored to help serve you and help you with your real estate needs!

Zillow REviewsTo see what our clients have to say about us visit our Zillow Reviews to learn more about the level of service and knowledge you will experience working with Johnson Team Real Estate!

Top Reasons to Own Your Home

Top Reasons to Own Your Home [INFOGRAPHIC] | MyKCM

Some Highlights:

  • June is National Homeownership Month!
  • Now is a great time to reflect on the many benefits of homeownership that go way beyond the financial.
  • What reasons do you have to own your own home?
  • If you have any questions, give The Johnson Team a call today at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Informed Home Buyers Need To Know These Rates!

Mortgage rates are an important factor in many aspects of buying, selling, or refinancing a home. In order to be an informed home buyer, the rates are a must know! And here are the most current rates as of May 30th.

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

Will Home Prices Fall as Mortgage Rates Rise?

Will Home Prices Fall as Mortgage Rates Rise? | MyKCM

Mortgage interest rates have increased by more than half of a point since the beginning of the year. They are projected to increase by an additional half of a point by year’s end. Because of this increase in rates, some are guessing that home prices will depreciate.

However, some prominent experts in the housing industry doubt that home values will be negatively impacted by the rise in rates.

Mark FlemingFirst American’s Chief Economist:

“Understanding the resiliency of the housing market in a rising mortgage rate environment puts the likely rise in mortgage rates into perspective – they are unlikely to materially impact the housing market…

The driving force behind the increase are healthy economic conditions…The healthy economy encourages more homeownership demand and spurs household income growth, which increases consumer house-buying power. Mortgage rates are on the rise because of a stronger economy and our housing market is well positioned to adapt.”

Terry LoebsFounder of Pulsenomics:

“Constrained home supply, persistent demand, very low unemployment, and steady economic growth have given a jolt to the near-term outlook for U.S. home prices. These conditions are overshadowing concerns that mortgage rate increases expected this year might quash the appetite of prospective home buyers.”

Laurie GoodmanCodirector of the Housing Finance Policy Center at the Urban Institute:

“Higher interest rates are generally positive for home prices, despite decreasing affordability…There were only three periods of prolonged higher rates in 1994, 2000, and the ‘taper tantrum’ in 2013. In each period, home price appreciation was robust.”

Industry reports are also calling for substantial home price appreciation this year. Here are three examples:

Bottom Line

As Freddie Mac reported earlier this year in their Insights Report“Nowhere to go but up? How increasing mortgage rates could affect housing,”

“As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”

If you have any questions give us a call at (888) 713-3056 or email us at Info@JohnsonTeamRealEstate.com.

Selling Your House on Your Own Could Cost You

Selling Your House on Your Own Could Cost You | MyKCM

In this extremely hot real estate market, some homeowners might consider selling their homes on their own which is known as a For Sale by Owner (FSBO). They rationalize that they don’t need a real estate agent and believe that they can save the fee for the services a real estate agent offers.

However, a study by Collateral Analytics reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” (emphasis added)

Why would FSBOs net less money than if they had used an agent?

The study makes several suggestions:

  • “There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
  • “Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
  • “Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.

Conclusions from the study:

  1. FSBOs achieve prices significantly lower than those from similar properties sold by Realtors using the MLS.
  2. The data suggests the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

As Dave Ramsey, America’s trusted voice on money, explains:

“Research has shown that, between mistakes, lack of negotiating skills, pricing errors and general exposure on the market, you’ll cost yourself more than the real estate commission…You’ll come out slightly better and with a lot less hassle if you use a top-shelf agent.”

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

Your Memorial Day Weekend Pending Ratios

44624085 - family homes in suburban neighborhood Memorial Day Weekend is here! The market continues to be active with inventory running 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, May 25th, 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 32%

The Ferndale pending ratio was 47%

The Lynden pending ratio was 43%

The Sudden Valley pending ratio was 58%

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