The following is a quick analysis of the Residential Bellingham real estate market.
The Average Sales price is up 7.9% compared to October 08 and up 8.2% compared to the previous month September 09.
The Median Sales prices is down by 6.3% compared October 08 and up 5.3% compared to the previous September 09.
The number of sales is up by 10 compared to October 2008 and down by 6 compared to the previous month September 09.
Condo Analysis for Bellingham
Average Condo sale price is down 15.0% from October 2008 and down 5.9% from the previous month - September 2009
Median Sales Price is $300 or .2 %up from October 2008 and down 6.8% from the previous month - September 2009.
The number of sales is up by 18 compared to October 2008 and up by 9 compared to the previous month September 09.
If you look at the graph you can see that prices the residential market has taken a bit of a rise. Where will the graph go next month is anybody's guess. Will the roller coaster ride of prices continue?........Tune in next month
Great news the First Time Home Buyer's Tax Credit of $8,000 available to anyone who hasn't owned a home in the past 3 years has been extended until April 2010. The new program will also expand the tax credit to include existing home owners who have owned a home for at least five of the last 8 years will be able to apply for tax credits of up to $6,500 when they purchase their next home.You might want to talk to your banker to see what you can afford.Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. You might want to take a look at what it would cost you to purchase one of these homes at today's rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.
If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981
The home buyer tax credit ,which is part of a larger bill that also extends unemployment benefits. has been approved by both houses of Congress and signed by President Obama.
First-time home buyers are still eligible for tax credits of up to $8,000. Buyers will now have to sign a purchase agreement by April 30, 2010 and close by June 30.
The new program will also expand the tax credit to include existing home owners who have owned a home for at least five of the last 8 years will be able to apply for tax credits of up to $6,500 when they purchase their next home.
The maximum price on a home will be $800,000 and vacation homes are not eligible.
The National Association of Realtors says that so far, about 1.4 million first-time homebuyers have qualified for the program and they estimated that 350,000 of these buyers would not have otherwise purchased.
The tax credit will also be extended for another year for military personnel serving outside of the United States until June 30, 2011.
Senator Johnny Isakson, who heavily pushed for the extension, along with his own version that would have increased the credit to $15,000 stated, "this bill will help us boost what is the real problem in the U.S housing market today and that is what is called the move-up market."
Today we got something to help the move up buyers that should help jump start that segemet of the market as well as the first time buyer market.
Another common question from buyers as well as sellers is, "what are my closing costs?" Some typical closing costs in real estate transaction are
Title search fees - is the assurance of clear title to the property and title insurance to defend against any future claims made on the title by circumstances that were not picked up at the time of the title search. This fee is based on the price of the transaction. It will vary from one company to another but they usually pretty close to each other. Traditionally the seller will buy the title insurance policy to protect the buyer, and the buyer will buy a title insurance policy to protect the lender that is providing the loan for the transaction.
The appraisal fee - this fee is paid by the buyer to have a professional appraiser give their value of the property. The appraisal is based on recent comparable sales.
Prorated property taxes, utilities, and association fees - these fees are based on the percentage of the year, or month in terms of utilities such as water and sewer, that you own a home.
Insurance fee - you can usually expect to prepay the first year of your insurance premium
Recording fees - these are fees charged to record the change in ownership usually by the county.
Document fees - these can be fees for drawing up different documents involved in the transaction.
Escrow fees - this fee is usually shared by both buyer and seller and pays for the escrow company that is handling the transaction.
Credit report fee - this fee is for the lender to render buyers credit report.
Other miscellaneous fees - these can include courier fees, electronic transfer fees, flood determination fees, digital storage fees, retrieval fees, underwriting fees, wire transfer fees, tax service fees, e-mail document fees. You won't necessarily be paying all of these, but you will pay some of them.is
Loan origination fees and discount points - the loan origination fee can vary from 0.5 % to about 2% of the loan amount pays for the cost of providing loans. Discount points are percentage of the loan amount paid to buying down the loan rate, resulting in a lower monthly payment.
Sellers additional fees - the seller will also pay a percentage of the sales price in excise tax to the county, and commissions to real estate agents.
You real estate agent can usually give you a pretty close estimate of what most of these fees will be.
There are currently 230 homes for sale.
The Average Sales price is down 14.8% compared to September 08 and down 9.8% compared to last month Auugst 09.
The Median Sales prices is down 11.9% compared to September 08 and down 4.0% compared to last Auugst July 09.
The number of sales is down up by 7 compared to September 08 and is up by 3 compared to last Auugst July 09.
There are currently 146 homes for sale.
The Average Sales price is down 20.4% compared to September 08 and up 16.0% compared to August 09.
The Median Sales prices is down 14.9% compared to September 08 and down 16.1% compared to August 09.
The number of sales is down by 1 compared to September 08 and is up by 5 compared to last month August 09.
Condo Analysis for Lynden
The Average Sales price is up 8.5% compared to September 08 and down 21.7% compared to August 09.
The Median Sales prices is up 0.1% compared to September 08 and up 25.1% compared to August 09.
The number of sales is down by 1 compared to September 08 and is up by 2 compared to last month August 09.
Interest rates are still extremely low and there are some great values in the Lynden market right now. You might want to take a look at what it would cost you to purchase one of these homes at today's rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.
There is only a short window of opportunity left for the First Time Home Buyer's Tax Credit of $8,000 available to anyone who hasn't owned a home in the past 3 years. You might want to talk to your banker to see what you can afford.
If you have any questions or want to see any Lynden Property feel free to email me at or give me a call at 360-739-6981
I know that well-informed clients make better decisions for themselves and their families. I want to help educate you. This helps me build strong, life long relationships with my clients.
Welcome to my profile which will guide you to the beauty of Bellingham and it's surrounding areas as well as provide you with information about Bellingham Real Estate, and what is presently available here in residential, condo, commercial and investment real estate. Search the MLS to find your new home in Bellingham or anywhere else in Whatcom and Skagit Counties.
I focus on my clients needs and takes care of them before, during and after their transaction closes. I believe in excellent customer service and helping my clients find the best professionals to help them with their real estate transaction.
I have been a Realtor® since 2000. I have lived in and around Bellingham since 1974, so I know the area and Bellingham Real Estate very well. My background is a mix of many things that have gotten me to this point in my career. I have been a self employed entrepreneur for more than 20 years. Most recently before becoming a Realtor I have been a nationally recognized teacher of Thai Massage.
Bellingham is at the heart of Whatcom County. It is an area of unparralled beauty and abundant recreational oppurtunities. I have travelled and lived in many parts of the world and I am always amazed at the beauty of this area on returning from anywhere on the planet. The city with a smalltown feel sits on Bellingham Bay, with Mt Baker to the east and the San Jaun Islands to the west. We are within a short drive of Seattle to the south and Vancouver B.C. to the north. Many homes in Bellingham Have spectacular views of the Bay and Islands as well as Lake Whatcom. Real Estate values here are on the rise, but still a bargain compared to many other desireable places to live.
Ferndale is a smaller town 15 minutes north of Bellingham that is surrounded by farmland. It is a fast-growing community with many homes featuring spectacular views of Mt. Baker. The town sits on the edge of the Nooksack River and has easy access to several of Whatcom County's premier parks. Blaine is a small town just below the Canadian border. It is the closest US town to 2010 Winter Olympics in Vancouver which is only half hour away. Peace Arch State Park is spanning the US Canadian border and providing a reminder of peace between our two countries for over two centuries. Blaine sits on Boundary Bay with Semiahmoo Bay actually closest to Blaine which has recently built a new boardwalk for people to stroll along the water. Being a border town Blaine has a very colorful history. Birch Bay is a beautiful community located on the water well know for it's miles of beaches. It is growing fast, what used to be a resort area now has many full-time residents. It is well known for its good crabbing and clamming. It's actually part of Blaine. Birch Bay State Park is popular camping spot. Lynden is a small town with strong Dutch heritage. It is situated just south of the Canadian border east of Blaine. The town features a 72 foot tall windmill with moving blades. Lynden is surrounded by farmland many with spectacular views of Mt. Baker. There are lots of dairy as well as many berry farms in the area. Everson and Nooksack are small communities located in the north of Whatcom County. Surrounded by farmland there are many places here with beautiful views of Mount Baker and a short drive to Bellingham or Canada. Sumas is very small city in the north of Whatcom County with a population of just over 1000 people, across the Canadian border from Abbotsford B.C. a large city of over 100,000 people. Deming is about 10 miles east of Bellingham on the road to Mount Baker. Maple Falls and Glacier are the last towns before Mount Baker and are popular resort destinations for skiers in winter and hikers in the summertime. Lummi Island is one of the gems of the San Juans. It is serviced by a small ferry that takes about 10 minutes to cross and runs at least once an hour. It is a rural island with unspoiled natural beauty. There are no parks, campsites or commercialization, it is quiet getaway. Sudden Valley is a community along the shores of Lake Whatcom located ten minutes east of Bellingham.
We appreciated Michael's efforts in pricing our home right, and keeping right on it when it came to showing it and getting interested generated. His firm also made sure we got plenty of "print" expose weekly to generate interest as well. We sold pretty quickly!
We would recommend listing with Michael to anyone!
The Weinberg's
I sure appreciate your perservernce and diligence helping get my very challanging property sold. Thanks
Robb McGregor
I highly recommend Michael Eisenberg as a real estate agent. I have worked with him on several purchase and sale transactions and all has gone very smoothly. Recently Michael successfully sold my home during the slow market in early spring 2007, getting a full price offer! Michael employed every possible marketing technique available. The marketing materials were excellent. Michael is great to work with, always available for questions, and I recommend him without any reservations.
Jamie Moore
We want to thank-you for the great job in helping us complete the
purchase of our new home. Your attention to the details of the completion
was very professional and quick. It has been a very easy and enjoyable
transaction and we would have no hesitation to do business with you again in
the future and to refer you to other clients. We wish you all the very
best.
Kip & Gaylene Bergan
Michael helped us accomplish what seemed to be 'impossible'-finding a
reasonably price home in Bellingham in a great neighborhood that met all our
requirements. He worked with us with patience and diligence for over one
year, emailing and calling us with updates as potential homes came on the
market. We toured over 50 homes together. He seemed to understand how
important it was for us to find a home that really fit our needs. We never
felt pressured to settle for something less than what we were dreaming
about. Michael not only proved to us what a real professional he is, we
also made a friend in the process. We couldn't recommend him more highly.
Tiana Melquist and Norman Stolzoff
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