RyanRE's Blog: All Categories

10 major changes in financing that occurred during the 1st half of 2008. All of these changes were made at a National level, although not all of the changes directly affect Bellingham.

1.    Minimum down payment 3% (no more 0 down payment) can use conventional products with income limitations but FHA better pricing.

2.    Minimum down payment on other owner occupied products is 5%.

3.    Minimum down payment with piggy back 2nd 10% (80/10/10)

4.    FHA risked based pricing 3% down, lower financed MI, high monthly MI based on credit score.

5.    ARM and Interest Only products must qualify at full payment (not interest only payment).

6.    Refinances, must have continuity of title and obligation (i.e. one person on original loan must remain on…

Bellingham Home Prices Increase 9% from March to April.

The Bellingham real estate market took a turn up during the month of April with 78 home sales. The average price of homes sold in Bellingham increased 9% from $345,735 to $377,083. The median price of homes sold also increased from $290,000 to $338,000 during April. While the local real estate market is fighting an increase in short sales and foreclosures inventory, the market is showing brief signs of recovery by posting gains in prices.

While most of the real estate news in Bellingham is positive this month, the days on market have continued to rise with the inventory. Fortunately the inventory and time on market have not increased dramatically. The days on market increased from 95 to 102…

10 great reasons that people should NOT buy real estate today.

1)    The market is down, but you like to buy high and sell low.
2)    There is a slim chance that interest rates could fall 0.25% this year.
3)    Saving money on taxes is overrated.
4)    Just too many beautiful homes available that you are overwhelmed.
5)    Building equity and credit is not really your thing.
6)    Homeownership brings pride, which is one of the 7 deadly sins.
7)    Living in an apartment is a life choice.
8)    There is always next year.
9)    The real estate market will NEVER recover.
10)  Spite


Call me if you are not interested in buying or selling real estate in Bellingham… Read Full Post

Best Place to Live & Launch a Business - Bellingham Ranks #27

According to CNN Money, Bellingham Washington is the 27th best place to live and start a business.

Read the Article 

Why Live in Bellingham…

The two biggest attractions to Bellingham, Washington are the outdoor life and proximity to Seattle and Vancouver, BC. Bellingham provides a host of outdoor recreation including; easy access to the bay, lakes & mountains. Bellingham offers a great community to bike, sail or hike. The real estate market is stable and the median home price is affordable at only $325,000.


On the Business Side…

There little question why commercial real estate is currently booming in Bellingham. Business is good. The local economy is thriving on tourism,…

Bellingham Real Estate Market Update for March 2008

The Bellingham real estate market continues to rise. While the average sales price has bounced up and down in 2008, the number of homes sold each month has continued to rise. 77 homes sold in Bellingham this March, compared to 66 in February and 60 in January. 61 homes are also currently pending in Bellingham. It is expected that home sales will continue to increase throughout the spring and into summer.

While the number of sales has increased, so has the total inventory. The number of available homes in Bellingham has increased from 489 to 522 since the end of January 2008. The average days on market for sold homes in Bellingham has been around 95 days.

60 Homes Sold in January

Median…

Weekly Review of Bellingham’s Real Estate Market 2/24/08 - 3/01/08

Bellingham’s real estate market is still holding up quite well. There were 27 homes listed this week. The average price of new listings was $366,649 with a median price of $310,000. There were no foreclosures listed in Bellingham this week. Currently, there are 490 homes on the market in Bellingham, WA.


Bellingham Homes Pending and STI

12 homes pended this week in Bellingham. The average price was $312,713 with a median price of $284,900. The average days on market for pending homes this week was 133. Overall the market has really picked up since the beginning of 2008. The number of weekly new listings and weekly sales has held fairly steady and the market is on pace to have a…

Bellingham Real Estate Market Update For 2/17/08 - 2/23/08

This week a steady rise in inventory continued in Bellingham. 30 new listings came on the market, which is the most for any week this year. The average price was $507,555 ($211/sq.ft.), with a median price of $416,750 ($232/sq.ft.). The average price was a bit skewed this week due to a couple of $1,000,000+ listings. Currently there are 494 residential homes on the market in Bellingham.


Bellingham Residential Pending and STI

Not only were the number of new listings up this week, but the number of pending sales were down this week. Only 7 homes pended and became “Active Subject to Inspection” this week. The average price was $326,514 ($170/sq.ft.) with a median price of $292,000…

Bellingham Condo Market Update for Feb 10th - Feb 16th

This week in the Bellingham condo market we noticed a significant upward shift in activity. While only 5 new listings came on the market, 13 condos pended and 10 closed. The average price of the new condos was $329,080 (265/sq.ft) with a median price of $274,500 ($235/sq.ft.). There are currently 266 condos on the market in Bellingham.

Bellingham Pending Condos

7 of the 13 pending condos this week were in Darby Estates. The average price of the Darby Estates condos was $194,281 (138/sq.ft). The average price of the total condos pending in Bellingham this week was $225,213 ($170/sq.ft.) with a median price of $192,995 ($137/sq.ft.)

Bellingham Sold Condos

There were also 10 closed sales…