Photos from Ryan Martin - Bellingham Commercial RE Broker
View of Mount Vernon and La Conner farmlands and ridge in Mount Vernon, WA. Photo taken by Ryan Martin.Located in: La Conner, WA
Glacier Springs is an organized community located near the foothills of Mt Baker. Glacier Springs is the least expensive community in the Glacier – Mt Baker area (Snowline and the Mt Baker Rim are the other two communities). The average price of cabins sold in Glacier Springs in 2009 was $202,250 compared with $239,313 in the Mt Baker Rim and $288,300 in Snowline.
In 2009 there were a total of 4 cabins sold in Glacier Springs. The sales ranged in price from $160,000 up to $245,000 with an average of $202,250. At the end of 2009 there were a total of 7 cabins available. The available cabins range in price from $158,900 up to $519,900. One of the reasons for the diversity in prices in Glacier Springs is due to the riverfront properties located along Canyon View Drive.
There are several reasons to consider purchasing a vacation cabin in Glacier Springs. The proximity to the Mount Baker Ski resort is ideal. Glacier Springs is located 25 miles from the Mt Baker Ski area parking lot. If you enjoy hiking, there are acres and acres of hiking trails throughout the forest and along the river that are accessible without the need of a car.
Search the inventory of Glacier Springs Cabins for Sale
Ryan Martin – Windermere Real Estate/Whatcom, Inc.
Direct Line: 360-296-7366
The Mt Baker Rim 2009 in Review
The vacation cabin market in the Mt Baker Rim held up fairly strong during 2009. For the most part, second home markets tanked across the nation during the rescission of 2008 - 2009. However, there are a couple of reasons why I feel the Mt Baker vacation market has survived. 1) Vacation cabins near Mt Baker are relatively affordable. The average cabin in the Mt Baker Rim sold for $239,313 this year. 2) Mt Baker is a great ski/snowboarding mountain and people love the fact that there isn’t a resort located at the ski area.
A closer look at the numbers for 2009
There were 8 cabins that sold in the Mt Baker Rim over 2009. The average selling price was $239,313 with an average days on market of 183. In addition to the 8 cabins, there were also a couple of manufactured/mobile homes that sold. (I don’t like to use these in my statistics as I feel that they skew the true prices of the cabins. The Mt Baker Rim used to allow manufactured and mobile homes, but do not allow them any more)
Moving to the present time, there are currently 12 cabins for sale in the Mt Baker Rim. The average price for these cabins is $336,608 with an average day on market of 152. What I find most staggering about these statistics is that the average listing price of cabins currently on the market is almost $100,000 more than the average sold price for the year. In fact, even the least expensive cabin listed for sale is $10,000 more than the average price of sold cabins for the year. This tells me that a lot of the sellers are asking far too much money for their cabins.
My advice to sellers
I hate to say it, but you might need to strongly consider a new strategy to sell your cabin. I personally sold over 20% of the cabins in Snowline and the Mt Baker Rim during 2009 and I have good feel for the market and what buyers are looking for. The buyers are not looking to spend over $300,000 for a cabin unless it is absolutely spectacular. Buyers are buying cabins in the $250,000 to $275,000 range.
My Advice to buyers
The average cabin that has sold this year was $239,313. We can work together and get you great cabin at a fair price. The market in the Mt Baker Rim is not weak, however the seller’s expectations are too high. There are not short sales or foreclosures affecting this market. You should expect to pay between $250,000 to $275,000 for a decent vacation get-a-way in this market. Begin your search for a Mt Baker Rim Cabin now.
Ryan Martin – Windermere Real Estate/Whatcom, Inc.
Direct Line: 360-296-7366
Snowline Market Report for 2009
The National real estate market has taken some strong hits over the last two years, while the gated community of Snowline near Mt Baker has done fairly well. Earlier this year a past client of mine told me that he had lost a great deal of wealth in the stock market, but the vacation cabin that he had purchased from me was going to save him. While he recognized that he was not selling at the peak of the market, the equity that he had gained over just 5 years was the best investment that he had made since 2004.
Snowline Market Snapshot and Review
Before reviewing 2009, let’s look at the current market. At this time there are 9 cabins for sale in Snowline with an average days on market of 186 and average price of $337,857. There is a strong diversity in price among that available properties as there are some entry level cabin currently available as low as $175,000 ranging up to $499,000 for larger chalets. Realistically, 9 cabins is a very low inventory for Snowline. There are a total of 319 cabins and undeveloped lots in Snowline, so an inventory of 9 (plus 3 lots) is a very small percentage. This low inventory is a good sign for the overall real estate market in Snowline.
Looking back at 2009 in review, 6 cabins sold over the course of the year. The average days on market for sold cabins was 76 with an average sales price of $288,300. Looking at the days on market for cabins sold vs. available it becomes apparent that many of the cabins that are currently on the market are overpriced. With an average days on market of 186, there is technically an 18 month supply of inventory in Snowline, which is a very negative health indicator of a market, however I feel that these numbers are skewed because both number are so small in relation to the overall supply. In case example, I listed a cabin in February at a very reasonable price there was a bidding war and the cabin actually sold for over the asking price. This means that there are certainly buyers in the market, but they are only buying for the right price.
My Advice to Buyers and Sellers Right Now
For buyers, don’t be afraid to do a little negotiating on some of these cabins that have been on the market for several months. I have represented several buyers in the Mt Baker area this year and some of the sellers have taken strong discounts on cabins, while others have been stubborn. With 9 cabins currently on the market, there is enough inventory for you to find the right Mt Baker get-a-way.
Search the inventory of Mt Baker Cabins for sale
For sellers, selling a cabin in Snowline comes down to pricing it correctly and marketing the property with professional photos. The well priced cabins are selling and the overpriced cabins are not. If you are thinking about putting your Snowline cabin on the market, I strongly advise you to contact me first for a fair evaluation of your property. I will not only give you a realistic price, but I will help you prepare your property for sale.
Ryan Martin – Windermere Real Estate/Whatcom, Inc.
Direct Line: 360-296-7366
The Department of Housing and Urban Development recently changed the rules for condominium financing. The most significant change was the elimination of the “spot loan” approval process. The HUD used to allow condominiums that followed the FHA guidelines to be financed through FHA loan programs even if they were not officially FHA approved. This is no longer the case, therefore it is more important than ever for condominium associations to follow and apply for FHA approvals.
FHA loans are more favorable to a lot of buyers because the programs are more lenient towards credit scores and require smaller down payments. FHA loans often require as little at 3.5% down payment. Because condominiums are typically less expensive than homes they are financed easier through FHA loans.
I have provided with a list of the FHA approved condos in Bellingham. These approvals are current through 10/20/09.
Forest Lane
Forest View
La Bahia
Lake Padden Estates Condos
Maple Glen Condos
Maple in the Reserve at Cordata
Pacific Trails Estates
Sunset Gardens
The Drake Building Condos
Willow Wood
Woodcreek
Woodridge
Ryan Martin – Windermere Real Estate/Whatcom, Inc.
Direct Line: 360-296-7366
Birch Bay Washington is one of the most affordable oceanfront locations along the west coast. Birch Bay is located just one hour south of Vancouver British Columbia and 2 hours north of Seattle which makes it an incredibly accessible location for both Canadians and Americans. Birch Bay has been a popular vacation destination for the last 100 years.
In the beginning, Birch Bay was just a group of small humble cabins located along the shoreline. Over time, Birch Bay has grown slowly but steadily. While many of the small cabins still exist today, there are also modern condominiums and timeshares mixed in along the waterfront. The main road in Birch Bay follows along the large public beach, while most of the homes and condos are located on the other side of the road.
One of the main summer time attractions in Birch Bay is the waterslides. The Birch Bay waterslides have recently been updated and are now part of Grand Bay Resort. The Birch Bay waterslides are open from Memorial Day weekend until the end of summer. The admission price for the waterslides is about $16 for the entire day.
If you are looking for fun day with where the admission is free, then you should check out the Birch Bay shoreline. There is typically plenty of parking and the shoreline is a beachcomber’s paradise. The road is extra wide for bicycles, rollerblades, or walkers. One of the unique aspects of Birch Bay is that the tide is unusually shallow and therefore has extreme highs and lows. The Birch Bay shoreline is a great place for people of all ages to enjoy the sandy beach and tide pools of sea life.
Birch Bay Village is gated community located at the north end of Birch Bay. Within this gated community one can purchase true low bank oceanfront properties in the $700k price range. This is an incredible opportunity for an oceanfront vacation home. In addition to reasonably priced oceanfront, Birch Bay Village also has a community club house, swimming pool, tennis courts, 9 hole golf course, private marina, and 24 hour security.
Shop for Birch Bay Vacation Homes Now.
Ryan Martin ~ REALTOR®
Windermere Real Estate/Whatcom, Inc.
Direct Line: 360-319-0040
 |
|
|
Ryan Martin, with a B.A. in Economics from WWU has focused his career commercial real estate sales and leasing in the North Puget Sound Region.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved
