More Housing Shortages and Increase in Prices

bidAccording to the Northwest Multiple Listing Services, home prices in Whatcom County are continuing to rise. A report released shows us that the median home price for homes sold in March was $285,000, up by a whole 10.4% from March 2015. Furthermore, prices for single homes compared to last year rose by 12.22%, while the state average is at 8.69%. Emily Hamann of Bellingham Business Journal tells us that there is a shortage of houses both in the state and in the country happening. She shares, “Whatcom County has just 3.05 months of inventory; the state has just 1.79. Between four and six months is considered a “balanced” market.”

John L Scott, Chairman and CEO of John L. Scott Inc., explains to us more about the seller’s standpoint in the situation that is occurring. “In today’s market sellers want to find their next home before they list their current home, but because of the severe inventory shortage it’s hard to win in a multiple offer situation…It’s a Catch 22 situation,” he says.

With this change we also notice a decrease in active listings. According to NWMLS, in 2015 there were 462 new March listings and 979 total active listings. Hamann writes that in March of this year, 445 listings were added, but there were just 858 total active listings.

MLS director George Moorhead adds, “Despite the tight market, many buyers aren’t willing to overpay.” He notices that with the prices rising and inventory decreasing, both buyers and sellers are becoming more aware of the market activity, paying closer attention to the trends than before.

For more current information about housing shortages in Whatcom County, visit BBJ Today.

http://bbjtoday.com/blog/housing-shortage-continues-to-push-whatcom-county-home-prices-up/33572?utm_source=BBJToday&utm_campaign=235fc30403-Newsletter_daily&utm_medium=email&utm_term=0_5eb5d79635-235fc30403-207787497

Edgemoor Listing!

914154_WGGBB6fo

Welcome home!

701 Fieldston Rd Bellingham

Marketing Remarks

Beautifully appointed & spacious Edgemoor Estate is finished w/everything you want & need for privacy at home or to entertain. 3 fireplaces, 4 bedrms, private office, loft/library. Wood wrapped window to let the light in & allow you to see mature gardens & tranquil fountain/pond. Rich teak hardwood flrs in family room, dining room, & kitchen w/eating area. Formal living areas, relaxing sunrm lovely master suite w/lrg walk in closet. Great storage & RV parking, 3 car garage shop space.

Features

Bath Off Master, Built-In Vacuum, Double Pane Storm Windows, Dining Room, Jetted Tub, Vaulted Ceilings, Walk-in Closet

Additional Information

  • Property Description Cable TV, Partially Fenced, Gas Available, High Speed Internet, Patio, RV Parking, Shop, Sprinkler System
  • Taxes $7,736
  • Lot Size 0.51 Acre (22,299 SqFt)
  • Garage Size 3 Car
  • Exterior Wood
  • Fireplaces 3 Fireplaces
  • Heating/Cooling Forced Air,
  • Roof Composition Roof
  • Flooring Hardwood Floor, See Remarks on Floors, Wall to Wall Carpet

School Information

  • District BEL
  • Junior High Fairhaven Mid
  • High Sehome High

For more information please give Shannon or Gordon Neufeld a call (360) 393-1183 or (360) 393-8299

NEW LISTING!

OLYMPUS DIGITAL CAMERA

2607 Eldridge Ave, Bellingham

Terrific “Front Row” Eldridge opportunity. This charming Craftsman cottage is a real winner. Private feel to this great setting, outstanding Marina & Island views, marvelous deck for sunsets & summer fun. Short walk to city trails – beach access, waterfront & downtown. Wonderful “Condo Alternative”, no dues here!

For more information contact Jon Huston at (360) 220-6639 or email at jonhuston@muljatgroup.com

Welcome Home!

908931_j5wIX36O

 

2959 Main St Custer, WA 98240

Marketing Remarks

1940’s Craftsman home with wood floors, glass doorknobs, concrete counters, gas fireplace, new exterior paint, new roof, new vinyl windows, huge 35×30 SHOP, gardens & updates throughout! Upstairs bedroom and bonus room could be a hobby room or ??? Close in country living w/only a quick 15 min drive to B’ham. 1.24 ACRE lot. Don’t miss your opportunity to see this one!

Features

Double Pane Storm Windows, French Doors

Additional Information

  • Property Description Cable TV, Partially Fenced, Shop
  • Taxes $2,194
  • Lot Size 1.24 Acres (54,014 SqFt)
  • Garage Size 2 Car
  • Exterior Cement Planked, Stucco
  • Fireplaces 1 Fireplace
  • Heating/Cooling Radiant
  • Roof Composition Roof
  • Flooring Hardwood Floor, Laminate

School Information

  • District FRN
  • Elementary Custer Elem
  • Junior High Horizon Mid
  • High Ferndale High

For more information please contact Staci Jarvis at (360) 739-8275 or Sean Ryan at (360) 220-4880

Geneva Home For Sale

887970_01_q7JNmvYs887970_02_iMU16kJe887970_6zy24x01Geneva Single Family Home
$699,000
4727 Lost Creek Lane Bellingham, WA 98229

Marketing Remarks

Extraordinary Northwest Lifestyle home in gated community, right on the edge of town. This is a horse lover’s dream! Fenced 5 acre property with 2 stall barn backs right up to the Galbraith Mt trail system. A private trail behind the barn accesses over 50 miles of trails on 3000+ acres. The home is perched up high with views over Lake Whatcom to snow-capped Canadian Mountains beyond. Updated kitchen, vaulted ceiling, composite deck, 40 year roof, heat pump with A/C, cable internet and much more.

Features

Bath Off Master, Built-In Vacuum, Ceiling Fan(s), Double Pane Storm Windows, Dining Room, Jetted Tub, Loft, Skylights, Vaulted Ceilings, Walk-in Closet

Additional Information

  • Property Description Barn, Cable TV, Deck, Dog Run, Fully Fenced, Gated Entry, High Speed Internet, Propane, RV Parking, Stable
  • Taxes $7,271
  • Waterfront Creek
  • View Territorial, Lake, Mountain
  • Lot Size 5.00 Acres (217,800 SqFt)
  • Garage Size 2 Car
  • Exterior Wood
  • Fireplaces 2 Fireplaces
  • Heating/Cooling Central Air, Forced Air, Heat Pump,
  • Roof Composition Roof
  • Flooring Ceramic Tile Floor, Hardwood Floor, Wall to Wall Carpet

School Information

  • District BEL
  • Elementary Geneva Elem
  • Junior High Kulshan Mid
  • High Bellingham High

For more information on this property please call Kirk Ghio at (360) 739-6248 or e-mail at ghio@muljatgroup.com

Home Prices continue to Rise

Real Estate Photography - Bellingham, Washington

Real Estate Photography – Bellingham, Washington

Spring time is an exciting time of year when buyers find themselves ready to go out and view different homes in hopes of finding their perfect home.  It may be surprising for some to see that home prices are climbing and inventory is significantly reducing in Whatcom County as well as statewide. According to the Northwest Multiple Listing Services, Whatcom County home sellers saw higher prices for their homes in February than a year before; the average price of a single home being $310,000 compared to the $269,000 in February 2015.

“This market squeezes all the fun out of buying a home,” said Frank Wilson, immediate past chair of the Northwest Multiple Listing Service board, in a news release. “Prospective purchasers who are coming up short tend to be first-time buyers or those who are using anything other than cash or conventional loans.”

Emily Hamann at Bellingham Business Journal writes, “Whatcom County has a 15.6 percent fewer homes available on the market now than it did just a year ago. There were 792 homes listed in the county in February. That’s down from 938 in February 2015. It’s a trend being seen all over Western Washington.” She adds, “The number of pending sales were up in Whatcom County, while the number of closed sales were down  year over year…With so few homes on the market, it will be an intense spring shopping season.”

As a result, we see that buyers are having to make instant responses when considering a home to buy, but according to chairman and CEO of John L Scott, J. Lennox Scott, the good news is that “We’ll start to see an explosion in the amount of sales activity for the next eight months.”

For more information about current prices and homes in Whatcom County, visit BBJ today: http://bbjtoday.com/blog/home-prices-up-in-whatcom-county-statewide/33408?utm_source=BBJToday&utm_campaign=bd79ce4e31-Newsletter_daily&utm_medium=email&utm_term=0_5eb5d79635-bd79ce4e31-207787497

 

 

Lake Whatcom Home For Sale

901974_H4p1FMnn901974_02_1o0O16e8Marketing Remarks

Feel like you are on a never-ending vacation… only 46′ from the lake, 83′ of stunning sandy beach, saturated sun-rises and mountain views at this wonderful lakefront location. This immaculate 3 bedroom, 2 bathroom, 2185sf home provides spacious open plan living on one level. Sliding doors to a wrap-around, two level deck, sets a private and peaceful sanctuary. The home sits back from Northshore Rd and is situated in a very quiet gated lane. Lake living at it’s best! Offered at $675,000.

Features

Bath Off Master, Double Pane Storm Windows, Dining Room, Skylights, Vaulted Ceilings

Additional Information

  • Property Description Cable TV, Deck, Gated Entry, High Speed Internet
  • Taxes $7,014
  • Waterfront Lake, No Bank
  • View Lake, Mountain
  • Lot Size 0.32 Acre (13,939 SqFt)
  • Exterior Wood Products
  • Fireplaces 1 Fireplace
  • Heating/Cooling Forced Air
  • Roof Composition Roof
  • Flooring Ceramic Tile Floor, Hardwood Floor

School Information

  • District BEL
  • Elementary Silver Beach Elem
  • Junior High Whatcom Mid
  • High Squalicum High

For more information please contact Elaine Prestlien at (360) 201-2072 or e-mail at Elaine@muljatgroup.com

13 Mistakes that Could be decreasing our Home Value

Home_Maintenance_JanWe know that as a homeowner, it is convenient to have the opportunity to build equity and increase the value of our home. Real Estate broker, Fred Griffin in his blog post “13 Mistakes Homeowners Make that Decrease the Value of the House”, explains how sellers hope to make a profit when the time comes to sell their home in this way but often make choices that are not helpful to them. Griffin states, “Regrettably, some homeowners make poor choices when it comes to remodeling, improvements, additions, or maintaining the home.” The danger in some of these factors is that they cause the opposite to happen; drop the value of the home.

Here are a number of mistakes that Griffin presents of which homeowners should definitely be aware of to save thousands of dollars in the long run!

Enclose the Garage

Not adding a Second Bathroom

Illegal Additions, Failure to Get Permits

Poor Home Maintenance

Losing Bedrooms

Not Updating Old or Worn-out Flooring

Old or Dilapidated Kitchen Appliances

Out-Dated or Worn Draperies, Counter Tops, Light Switch Covers

Cigarette Smoking Indoors

Painting the House the Colors of your Alma Mater

Landscape Over-Kill

Too Much Outdoor Living (too many Outdoor Improvements)

Trampolines and Above-Ground Pools

 

Big Rises are Happening Across the State

graph-36796_960_720According to the Bellingham Herald, Washington State has landed in the top 20 of the highest home appreciation across the United States. Whatcom county is experiencing these rises along with Seattle, Tacoma, and Bremerton.

2536 S Park Drive

GetMedia

Enjoy the benefits of living right on Broadway Park. The trail system, downtown, hospital & marina are within minutes of this property! Make this home, in this popular location, your own dream home. Two bedrooms on the main, two bedrooms up. Beautiful living room with brick fireplace, kitchen with eating space, lots of windows, plenty of sun to enjoy a private garden, tons of storage in the basement. Ally access to the garage in this excellent walking and biking community.

Call Shannon Neufeld (360)-393-1183