Elaine A. Cook-Bellingham Real Estate

Real Estate Process. This one in a series of blogs discussing the process of buying or selling real estate in Bellingham, WA.

Purchasing a home.
First, get pre-qualified. (See "Lending" blog.)

Next find yourself a Savvy agent...yes, I just had to throw that in there!

Once you have found your agent, you are going to go through a question and answer period. What are your wants and needs. And yes, wants and needs are diffrent. What are your lifestyle expectation for choosing a neighborhood? What are schools are you looking at? What are your transportation preferences? Yes, all of it. Why? Because it is our job to help you through this great treasure hunt...but you have to help design the map! Bellingham, WA offers many types of neighborhoods, lifestyles, and enviroments. You need some one who knows the area to help you with your treasure map!

We will then go look at homes. Probably several. Be sure to tell your agent what you like and what you don't like about each property. This helps narrow the search!

Once we have found the home you are looking for, you will write a purchase and sale offer. This tells the seller what you are willing to pay, information about your financing, insepctions...your offer in detail. This is where the negotiation begins.

Once we have an accepted offer, several deadlines start ticking away. It is my job to keep you informed of these deadlines, and protect your interests. When all contingencies such as financing, insurance, inspections have been satisfied we move towards closing.

Thinking of Selling Your Home?
Selling decisions usually come down to a few specific things.

Why do you want or need to sell?
The answer to this varies in each household. Financial, personal, moving up, sizing down...everyone has a different situation. It my job to not judge your motivation, just help you meet your goal.

What is your home worth?
For help in establishing a more succinct look at your home's Current Market Value, Click Market Value Request and fill out the requested information. I will use comparable sold listings to help you calculate the fair market value of your home here in Bellingham and Whatcom County.

I promise I won't hound you, just because you were curious about your home's value! BUT, when you are ready, I would appreciate the opportunity to interview for the job!

How long should it take to sell?
It varies depending upon where your property is within Whatcom County, the price range and the marketing plan of your agent!

As a Connect Realty agent, we have "Showcase" membership with Realtor.com. The number one real estate search site! I can also get you specific stats to your neighborhood; just email me.

In the meantime go to Local Market Stats. This will give you numbers of homes for sale/sold, days on market, and price ranges all in one place! Average days on market is up to 99...so PLAN AHEAD!

Which agent should you work with?
You know how I will answer that!!! However, if you plan to interview several agents, please request the brochure, "Seven Questions to ask a Realtor."

As an experienced Realtor® I have helped numerous clients successfully sell their homes. I know how to handle every aspect of the sales process from strategically marketing and displaying your home, to making sure everything is signed, sealed and delivered by the closing date. Providing you with a comprehensive, high-quality listing service is the top priority for me. When you decide to sell your home, please contact me. And let's get started!

So, having attended the Connect Realty workshop regarding "the mess"...I am now on a mission.

The real fix...drum roll please....

IS FOR BUYERS TO BUY HOMES!!!! Using any and ALL of the programs out there. USDA, First Time homebuyer programs, FHA, and a few strong banks still making loans. The credit has soften up...not like it was..and it will never be there again! Tax credits...etc.... This is the only long term fix to the problem...so we as Realtors can get this through to our buyers; and help fix the problem!!!

How does this fix the problem:
Mortgage interest is what fuels our economy/stock market. The interest earned on these loans is what goes into the banks so they can make more loans and what securities base their "profit/cash" on. When a loan is in default the lender is required to have $700,000 CASH on hand for every $100,000 of the mortgage in default. So when, for instance WAMU..started getting loans in default, they no longer had enough cash on hand (FDIC regulations) and were deemed insolvent. Meaning, that they no longer had enough cash on hand to pay out IF they collapsed and had to pay cash to their account holders. (CDs, Savings...etc) So the FDIC comes in and says...sell the company, or pay out your account holders and close the doors. It also means that they cannot generate new loans..car loans...anything....

Now, as you know mortgages are sold to investors. So if the mortgage is for $100,000. An investor will buy it for $105,000. (Expecting to recoup the $5000 in the interest payments. Then...these investors have a bundle of mortgages earning interest...which funds retirement accounts, insurance companies...etc (I am soooo simplifying this!) When the mortgages are in default OR the value of the house has fallen below the loan amount...then they have bad paper....no money. Insurance companies take our premiums and invest into Mortgage Backed Securities...well, when the value of those securities falls...they have less cash...which means less money to pay out on claims. Same principal applies to retirement accounts.

The bail out is to regroup, consolidate (to the top 5 banks!) and buy up bad paper. It is a band aid. It will help some folks faced with devalued homes, slow some foreclosures....but it is a band aid.

Go target the renters, investors and baby boomers....bring peace to our nation! lol
Also, did you know that first time home buyer...just means you haven't owned a home in 3 years ?

We have opened our Bellingham Branch Office!

While many Brokerages are closing their doors, merging, increasing fees...doing what it takes to survive...Connect Realty is thriving! Why? Low over head, Great Splits and all the tools you need!
And of course, being fresh, perky and innovative doesn't hurt! lol

So, for those of you in Bellingham thinking about Connect Realty but have to have an office...YOU GOT! A very visible, and hip location. You will love it. There are only 2 spaces still available. $155 a month. Period.

If you are in another area, and want to know more about Connect...read below, check out the links...call and ask questions. It is a career decision that deserves investigation!

Where else can you get an 80/20 Split, no quotas, no caps, no fees AND earn back that 20% from the Brokerage?

Okay, the bottom line.

• It cost $200 to join. $29.95 a month - click here to see what that gets you!!!
• 80/20 Split New Agents 70/30 for 1st 5 deals
• FREE Realtor.com "Showcase" Membership (Avg $500 savings!)
• No Desk Fees.
• No Franchise Fees.
• No Brokers License required to build your own team.
• No Transaction Fees, except for the required E & O Insurance.
• PLUS...5% Referring Agent Commission over and over...
• About as paperless as a Real Estate Agency can get!
• Virtual Office Transaction Manager
• Contact Management
• E-Store for Connect Fun Stuff!
• Over 3000 Marketing Templates
• Checks Direct Deposited with in 24 hours
• Support, Support, Support
  
  Oh, almost forgot...FREE on line training classes, videos, marketing materials, buyer and seller presentations...the list goes on!
  
  We are ready for you...you ready for us?

Team E A Sports...that is the name of my Bellingham Fantasy Football Team.

I am currently 3 and 2...tied for 2nd place. Not playing Ronnie Brown the week he scored 35 fantasy points...was, well...unfortunate!

I love the game of football. Do I know all the stats, player numbers, what college they went to...lord no! I often have to ask my husband, David, (our league commissioner) what number is Adrian Peterson? "28, honey!" (yes, he rolls his eyes every time he answers that!)

I just love the energy, strength and spirit of the game. I do have opinions on certain rules. I strongly believe there should be no pass interference. Defensive or Offensive...especially offensive. If I am trying to get the ball, I should have every right to push my opponent away from the ball....unfair advantage??? That is a sissy rule. We strive for advantage...to get the ball...to score. That is the point of the game isn't it? Yes, my husband knows how I feel about this rule...and no, he doesn't agree...nor does he try to argue with me! lol

So who do you pick for the Super Bowl? Go Seahawks!!! lol

Oh by the way, have you checked out the latest news about Connect Realty?