Bellingham Homes & Real Estate

It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year. The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring as compared to the rest of the year? The  National Association of Realtors  (NAR) recently revealed the months in which most people listed their homes for sale in 2017. Here is a graphic showing the results: The three months in the second quarter of the year  (represented in red)  are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,680,000. That number spiked to 1,970,000 by Ma...

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 ...

1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.1% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.9% over the next year. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year. An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home. 3. Either ...

Do You Know the Cost of Waiting? [INFOGRAPHIC]  

In some markets like Bellingham and Whatcom county, homes are selling in a matter of days. Are you thinking of selling? Call me to learn how I leverage social media to get you maximum exposure!! Jack Otto eXp Realty Bellingham, WA 206-388-6102 #1 Agent in Social Media in Washington (ranked weekly by Mondinion.com)

Some Highlights: Interest rates are still below historic numbers. 88% of property managers raised their rent in the last 12 months! The credit score requirements for mortgage approval continue to fall.

Some Highlights: ‘Millennials’ are defined as 18-36 year olds according to the US Census Bureau. According to NAR’s latest Profile of Home Buyers & Sellers , the median age of all first-time home buyers is 31 years old. More and more ‘Old Millennials’ (25-36 year olds) are realizing that homeownership is within their reach now!

When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold. Read the rest here:  "Importance of Using a Professional to Sell Your Home.

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

This is the #1 question I'm getting from buyers. I break it down here: Mortgage Interest Rates Went Up Again… Should I Wait to Buy?

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible. How to Get the Most Money When Selling Your Home   

Check out: Existing Home Sales Reach Highest Mark Since 2007 [INFOGRAPHIC] 

The most recent Pending Homes Sales Index from the National Association of Realtors revealed a slight bump in contracts with an increase of 1.6% in December. This news comes as existing home sales are also forecasted to be on pace for 5.54 million in 2017, a 1.7% increase over 2016, which was the best year for sales in a decade. Read More: Buyers Are Searching For Your House! Is It time to list your home?  Is this the year you sell your home? Call me for my free home selling guide and consultation.  Jack Otto eXp Realty #1 Agent in Social Media in Washington (mondinion.com) Jack.otto@exprealty.com 206-388-6102

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

The real estate market is crazy right now and 2017 is going to be another banner year. With inventory at all time lows, buying power remaining high, and an overall high demand for homes, we will see a similar market to 2016. So what does all this mean to you? Take a look at the infographic and then call me to get your game plan in place! Home Sales at Highest Pace in 10 Years! [INFOGRAPHIC]   Jack Otto eXp Realty #1 Agent in Social Media in Washington (mondinion.com) Jack.otto@exprealty.com Jackottohomes.com

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 !