Bellingham Homes & Real Estate

Just like our clocks this weekend in the majority of the country, the housing market will soon  “spring forward!”  Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market. Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right. Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions. That hasn’t happened this year. Demand for housing has remained strong as mortgage rates have remained near historic lows. Even with the recent increase in rates, buyers are still able to lock in an affordable monthly payment. Many more buyers are jumping off the fence and into the market to secure a lower rate. The  National Association of Realtors (NAR) recently reported ...

7 Reasons to List Your Home This Holiday Season Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are seven great reasons not to wait: Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their employees in their new positions as soon as possible. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now . You can restrict the showings on your home to the times you want it shown. You will remain in control. Homes show better when decorated for the holidays. There is less competition for you as a seller right now. Let’s take a look at listing inventory as compared to the same time last year: The desire to own a home doesn’t stop when the holidays...

Top Real Estate Social Media Accounts To Follow by Surge Realty Solutions Want to know how the best real estate agents use social media? Below, we have compiled a list of the best social media accounts in the real estate industry from around the web. Whether you’re looking for industry data, home-buying tips, or lead-generation strategies, these real estate accounts have got you covered. It doesn’t matter if you’re just starting out, or have decades of experience - there’s something for everyone here. Be sure to check out each featured post to really get a feel for their writing style. Our list is always expanding, so check back frequently! Jack Otto |  LinkedIn  |  Twitter  |  Google+ Jack Otto knows the value of utilizing social media for real estate firsthand.  As the most popular real estate agent in Washington ranked by social media activity (according to Mondinion), he makes extensive use of Facebook, Twitter, YouTube, Goog...

Some Highlights: The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 4.4% by next year. CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to!

         The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market. One such study by the  Wharton School of Business  at the  University of Pennsylvania revealed that many millennials have not yet considered purchasing homes simply because they don’t believe they can qualify for a mortgage. A recent article about millennials by Realtor.com explained that: “ About 72% of aspiring millennial buyers said they’re waiting because they can’t afford to buy… ” The article also explained that 29% of millennials believe their credit scores are too low to buy .The problem here is the fact that they think they will be denied a mortgage is keeping them from even attempting to apply. Ellie Mae’s Vice President Jonas Moe encouraged buyers to know their options before assuming...

One of the main reasons why For Sale By Owners (FSBOs) don’t use a real estate agent is because they believe they will save the commission an agent charges for getting their house on the market and selling it. A new study by Collateral Analytics , however, 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 in 2016 and the first half of 2017. 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 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 on with th...

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys  “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions”  for their monthly  REALTORS Confidence Index . Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand). Buyer Demand The map below was created after asking the question:  “How would you rate buyer traffic in your area?” The darker the blue, the stronger the demand for homes in that area. Only three states had a ‘stable’ demand level. Seller Supply The index also asked:  “How would you rate seller traffic in your area?” As you can see from the map below, 21 states report a ‘ weak ’ sellers traffic, 25 states report a ‘ stable ’ sellers traffic, only 4 states ...