Wes Nygaard

There has been a lot of talk by everyone regarding where we are at in this current economic cycle. My take on this is that no one really has their finger on the absolute accurate pulse. The dynamics seem to be totally event driven, like trying to put your finger on mercury.

I'm not going to lean to left or the right. Here is what the statistics are saying this week. I track them weekly and have been for quite some time. I would encourage you to take a look at the past weeks for each location to get a better look at where we are. As a realtor, I haven't seen ratios like this for a some time. Is it the good news that the newspapers and MSN that have drived these numbers. Or, just the normal cycle of spring and summer increases.

I'll let you stay awake nights trying to figure out what the numbers are saying. I say they are what they are...and they're great.

KeeRemember we are always a week behind. Current week would be 06.06.09

Location 1st week January Current week of 06.06.09 Increase or Decrease

Bellingham 13.50 26.23 +12.73

Blaine 8.27 16.37 +8.1

Ferendale 11.16 20.65 +9.49

Lynden 13.19 16.77 +3.58

Sudden Vly 19.67 24.18 +4.51

Side Note: 0-45 is a Buyer's Market 45 - 55 Balanced Market 55 - 100 Seller's Market

Buyers: It is still a strong buyer's market, good deals are out there to be found!

Hope you found this blog entry to be helpful.

Any questions, give me a call.

Wes

Canadian clients-investors!

US banks are lending money to Canadians!

Are you looking for property in Blaine, Lynden or Ferndale, Washington?

Are you looking for a loan from a US bank?

Yes, there are some US banks lending to Canadians. True some are not lending...even to American borrowers.

Here is a basic outline for US banks lending to Canadians: 1. Minimum 700 (Canadian) credit score. 2. Portfolio loan. 3. Twenty percent (20%) down.

If you have questions, give me a call and I will be more than happy to direct you a person that is able to answer your questions.

If you are looking for a property in Bellingham, Blaine, Ferndale, or Birch Bay, feel free to visit: www.WhatcomcountyHomeSearch.com

I hope this blog information is helpful.

Wes

Things have started turning around for Whatcom County Real Estate.

The most current ratios have been uploaded to www.WhatcomCountyHomeSearch.com.

You are able to review the stats for: Bellingham, WA, Blaine, Washington, Ferndale, WA, Lynden, Washington, Sudden Valley, WA. I have also placed an overall graph for the Whatcom County Statistics. Follow the ratios back to the first of the year and you can see where we were and where we are now. A welcomed change. You can scroll down to the first week's statistics in January and watch the increase to the current week.

To make searching for a homes easier, I 'finally' placed a Real Time - New Listings button on my website. Top left hand side.

I've had a lot of positive feed back from buyers and sellers alike saying that they like the ability to search for homes in specific locations like: Bellingham, Blaine, Ferndale, Lynden and Sudden Valley. However, it has been requested that I put a 'Real Time - New Listings' button on my website. This information shows all new listings being placed on the NWMLS by all member brokers. You wanted instant information...you now have it.

Let me know what you think of the real time search and if you have any suggestions for improvement.

I hope this Blaine Area Blog entry was useful.

Wes

Great meeting at The Muljat Group's Tuesday Staff meeting!

Our guest speaker was Mr. Jim Logghe, Sr. VP Residential Loans, Banner Bank, Bellingham, Washington.

It was a pleasure to hear Mr. Logghe speak about short sales, deed in lieu and foreclosures. One of the most important statements made at this morning's meeting: best advice to your client is to contact an attorney and their lender immediately when confronted with any of these situations.

Mr. Logghe was able to give a basic description of Banner Bank's position regarding short sale versus a deed in lieu and foreclosure. Banner would rather, if possible, do a short sale. As was reiterated, all banks are handling these procedures differently, that is why it is so important to work closely with the lender, attorney and your agent.

How is a short sale/deed in lieu, foreclosure impact your credit score/FICO score. Mr. Logghe was not able to give the group an answer to that question. Seems the three credit rating agencies are keeping that information to themselves. Perhaps the best answer to that question would be to have the borrower call the agency and ask the question point blank. I've tried and haven't gotten a definiteanswer. Maybe after you talk to the credit agencies, give your legislative representative a call and let your voice be heard!

The big question is will the lender have recourse on the deficiency? It should be in the fine print of the lenders contract and that is why the seller should contact an attorney. The attorney should be able to navigate the seller through documents and let them know if there will be recourse or no recourse.

Next question: how long will this transaction take? There is no way of knowing. Each lender is going to have different work loads, different procedures and different levels of the checker checking the checker.

Sounds like there is not a definite answer to any of your, mine or our questions. You're right! That is why it is necessary to get the best possible information--see an attorney, open up communication with your lender.

I think we are all working very hard to navigate in uncharted waters.

I hope this blog was informative. If you have any questions, feel free to give me a call.

Wes

By now everyone knows the great weather has arrived in Whatcom County. Hopefully, you were able to get in on some the activities and didn't miss the hole in one (13th hole) during the NCAA Div II championship hosted at Loomis Trail, I don't think anyone in the area missed The Ski to Sea.

On a different note. Real Estate activity in Whatcom County has started to increase. It is that time of year when business does increase. However, looking at the numbers, it appears that the $8,000 tax credit, low interest rates and a great inventory to choose from has sparked an increase in pendings and solds.

Lenders have tightened their guidelines and continue to do so. However, with a great credit score a few other lender requirements, you can get a great deal on your dream home.

I have listed below the current ratios for the area. January '09 numbers versus May 23, 2009. The ratios give us numeric pulse of the business. 0-45% (buyers Market) 45-55 (balanced Market) 55-100 (Sellers Market)

By watching the ratios, you can keep an accurate reading of market trends by price break and area.

Location January (ratio) May (ratio)

Bellingham 13.50 26.09

Blaine 8.22 14.41

Ferndale 11.89 18.45

Lynden 13.19 15.24

Sudden Valley 19.67 22.70

The ratios have been tracked on a weekly basis. If you want to look at the steady progression of percentages, go to: www.WhatcomCountyHomeSearch.com Move down the left side of buttons. You will find all of the above locations with individual buttons/information and graphs.

Hope this blog entry was helpful.

If you need additional information, give me a call.