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!

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 ...

Fawn Island in beautiful Deer Harbor, Washington, is one of the most exclusive properties on the market. For a complete list of features and amenities please visit Fawnisland.net. Have a home to sell? Trust the top agent in social media to get you maximum exposure!  Jack Otto eXp Realty 206-388-6102 Jack.otto@exprealty.com

Buying a Home? Do You Know the Lingo? Buying a home can be intimidating if you are not familiar with the terms used during the process. To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home. Freddie Mac has compiled a more exhaustive glossary of terms in their “ My Home ” section of their website. Annual Percentage Rate (APR) – This is a broader measure of your cost for borrowing money. The APR includes the interest rate, points, broker fees and certain other credit charges a borrower is required to pay. Because these costs are rolled in, the APR is usually higher than your interest rate. Appraisal – A professional analysis used to estimate the value of the property . This includes examples of sales of similar properties. This is a necessary step in getting your financing secured as it validates the home’s worth to you and your lender. Clos...

As we get closer to April I wanted to point out how the housing market looks already. The market never really cooled in the winter like it usually does. Homes were selling in days in late December and January. With record low inventory, there are several buyers for each home listed. So here is how the Bellingham and surrounding cities look today! < Trust the #1 Agent in Social Media in Washington to get your home sold!! Jack Otto eXp Realty 206-388-6102 jack.otto@exprealty.com jackottohomes.com jackotto.exprealty.com

As we celebrate reaching the 1st of March and Spring being on the horizon, where are home prices going? They've been going up for some time now, but what does the future hold?  Where Are the Home Prices Heading in the Next 5 Years?  Time to sell your home? Let me show you how I leverage social media to get you the most exposure possible.

Buyer Demand Is Outpacing the Supply of Homes for Sale 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). Read the rest here: Buyer Demand Is Outpacing the Supply of Homes for Sale

We've rounded the corner and are cruising into 2017. This year is going to be another blockbuster year for home sellers. But before you can put it on the market you need to go through your home and make sure it's ready. Check out this checklist and feel free to call me for my complimentary home selling consultation.  "Tips for Preparing Your House For Sale [INFOGRAPHIC] " Once you are ready let's discuss how my social media campaign can get you the most exposure possible.  Jack Otto eXp Realty #1 Agent in Social Media in Washington (mondinon.com) Jack.otto@exprealty.com 206-388-6102 -  -

Now we are past the holidays, are you finally getting ready to buy a home? First step is to get your Free guide here and then call me to set up a game plan. This year is going to be crazy and you'll want to have a solid plan in place. Get my FREE buyers guide !  

2017 has started with housing inventory at historic lows! If you have been on the fence about selling your home, get your game face on! Homes are selling in less than 24hrs, even in late December and early January. Check out this latest blog post and call me so we can get your home listed! Inadequate Inventory Driving Prices Up  Jack Otto eXp Realty #1 Agent in Social Media in Washington jack.otto@exprealty.com

As we say goodbye to 2016, it's time to look forward to 2017! Last year was a great year for home sellers. Sellers were getting asking price, if not more, and selling homes in sometimes a matter of hours. 2017 may be the last blockbuster year to sell your home. Sure values will continue to rise but buyer demand is going to taper off. Rates have already gone up, and the question is how much will they rise in 2017? If you've been on the fence, take a look at some of the reasons now is the time to list.  Start 2017 Off Right… List Your House for Sale   For a Free Home Value and Sellers Guide, email me at Jack.otto@exprealty.com Jack Otto eXp Realty #1 Agent in Social Media in Washington (mondinion.com)

Home sales continue to keep pace through the Fall and Winter months! Check out this infographic! Existing Home Sales Surge Through The #Holidays [INFOGRAPHIC]    If you have been on the fence about selling your home, let's talk. 2017 is going to be another blockbuster year for home sellers. Let's make sure you are ready and get all your questions answered. I offer a FREE home selling consultation complete with home value, marketing plan, staging checklist etc.  Jack Otto 206-388-6102 Top Agent in Social Media in Washington (mondinion.com)