bellingham wa real estate agencies
Posted on 12 December, 2010. Post tags: bellingham, real, estate, agencies
A client who has wandered the world once told us, after a particularly good travel story, “The most uncomfortable experiences always make the most interesting stories.” As we look back on the current economic times, I’m sure that will be the case. What makes it uncomfortable today is that we don’t know the story’s ending. In the case of the real estate market, we want to know, “Will prices drop? Will sales fall? When should I buy or sell?”
None of the experts have those answers. Most of them admit that they didn’t see the current situation coming and that we have no good historical examples to show us what to expect. But as humans, we want answers for the future, so the experts give us their best guesses, which range from a pickup in the 1st quarter 2009 due to excellent interest rates to softness through 2010 due to job losses and lack of consumer confidence.
The reality is that nothing in life is guaranteed and that each of us needs to make our own financial decisions based on our individual circumstances. Some people have to move regardless of the market, but more move by choice, and in today’s market it still makes sense for some people to move up or downsize. The current actual value of your property really doesn’t matter – what matters is whether that value will allow you to make the change you want to make in your lifestyle.
Statistics can show us what has happened in the past, don’t help a lot in predicting the future, but give us some indication as to where we are currently, so let’s look at some of the numbers:
2007 to 2008 comparisons of single family homes in Whatcom County show the following:
2007 to 2008 comparisons of single family homes in Bellingham show the following:
To summarize the numbers, the odds of a house selling at this time are lower than they were a year ago and the price may be a bit lower than it was, but there has been no dramatic drop. List prices are being negotiated down about ½ % further than they were a year ago.
To summarize the reality behind the numbers, the basics of buying and selling have not changed. There are people looking for property. When something comes up that fits their needs and is good value, they buy quickly and pay the listed price. Some areas and price ranges are more desirable and in shorter supply than others so pricing is stronger and sell times are shorter. With less new construction available, newer homes and nicely renovated homes have an advantage.
You can meet on the web at Johnson Team Real Estate Bellingham Washington or interact with us on our Blog at Johnson Team Real Estate Bellingham Real Estate Blog
Meet the WA winners and finalists
SOME are well known, others work anonymously in our community. But each of the finalists in the West Australian of the Year awards, announced Saturday night, have helped make our state a better place. WA's Australians of the Year finalists
Huge Chinese banks make presence felt
CHINA'S leviathan top-five banks have set up shop in Australia in a growing engagement with local lenders that contrasts with the aggressive Chinese ownership strategy they are funding in the resources sector. Huge Chinese banks make presence felt
Wealthy buyers push prestige prices up
AUSTRALIA'S most expensive homes are likely to rise in price by 10-15 per cent this year as wealthy locals and overseas buyers hunt for prestigious addresses in a resilient economy, according to researcher RP Data. Wealthy buyers push prestige prices up
Luxury house prices to rise
AUSTRALIA'S most expensive homes are likely to rise in price by 10-15 per cent this year as wealthy locals and overseas buyers hunt for prestigious addresses in a resilient economy, according to researcher RP Data. Luxury house prices to rise
Wealthy home buyers are back
CHANNEL 7 says its five-week-old digital channel, 7TWO, has helped the network to a four per cent increase in its total viewing audience. Digital channel boost for Channel 7
