February NW Hometeam NL online

If you are not on our mailing list to receive this info packed newsletter from your NW Hometeam Realtors, here is another way for you to enjoy

February Back Page Newsletter

This Market is Heating UP! Current sold stats

The market is heating up right now due to smart investors and those who want to take advantage of the amazing interest rates that may not be around much longer. Take a look at our local stats below from the month of Dec to Jan. Some areas are doing better than others, but for the market to be this busy during the slower time of the year – something is happening. Stay tuned for updates on changes from Jan to Feb – we are sure to see an even more significant increase in sales and pendings. There is light at the end of the tunnel.

As always, if you would like more information or a FREE Current Market Analysis for your home please call me (Danielle) anytime 360.483.6490

% Change from
Dec. to Jan.
Ferndale
Pendings -11%
Solds 173%
Lynden
Pendings -14%
Solds 950%
Blaine
Pendings -7%
Solds 275%
Nooksack Area
Pendings 100%
Solds 300%
Bellingham
Pendings -30%
Solds 150%
Whatcom County
total
Pendings 215%
Solds -17%

January newsletter

Thought we’d start putting our monthly newsletter online in case anyone who doesn’t get it via mail would like to check it out. Always packed w/great and helpful real estate information, as well as a coupon and fun crossword puzzle! Enjoy and if you want it mailed, let us know.
~Danielle 360.483.6490

January Newsletter Front pages

January Newsletter Back pages

Must see Custom Craftsman over 3k sq ft!

Must See Custom Craftsman style home on near .5 acre, prime mid-county location! This home has everything: 3 car gar, 4 bdrms, an office & bonus room. Beautiful custom kitchen w/granite, ss appliances, walk-in pantry, all open to the great room w/built-in speakers, high coffered ceilings, & beam work defining the formal dining. Enjoy entertaining outdoors w/your own gas fp, TV & 2 built-in grills finished w/ceiling speakers & lighting. Smart Home system controls lights, music, fp, fans & more!

For more info or to request a viewing, please call Danielle anytime! 360.483.6490

Short Sale Tidbit #4

i) General Short Sale Difficulties

(a) If <1 lien holder, SS can be at least 4 times harder

(i) PMI counts as lien holder – must ok the SS (only servicer can get ok from PMI)

(b) If auction is within couple weeks, SS very difficult (maybe impossible)

(c) If debt is not house related, SS won’t help (refer client to atty) i.e – medical bills, recent divorce, lost job

1) Short Sale Alternative Info

i) Deed in Lieu (just give house back to bank)

(1) Only available if seller has just 1 lien on house

(a) Lender will step into position of seller, so does not want any other liens to now be held accountable for

(2) Results in no deficiency (same as non-judicial FC)

(a) Entire balance owed on FC lien is gone

(b) Junior liens not discharged if proceeds can’t pay (from re-sale of home)

(i) This debt is now unsecured and can be collected from seller
Please remember to read the first 3 Short Sale Tidbit blog entries for more information. As always, if you have any questions about short sales and need some expert advise, please contact Danielle anytime at 360.483.6490 or via email dgroeneweg@muljatgroupnorth.com!

Recent stats for changes in Pends/Sales from Oct.-Nov

Just pulled stats of changes in number of pending & sold homes in Whatcom Co. from October to current date in November. These stats are for Whatcom County only. Overall, the number of pending sales in the month of November vs the month of October has increased immensely. The number of solds have decreased a bit, but a lot of the properties that are currently pending should be sold by next month, increasing the number of solds for December. Personally, I can say the amount of action I’ve seen lately w/new buyers looking for a home is quite surprising. Usually this is the slow time of the year. Our market is at least temporarily stablizing a little bit.
As always, if you would like more info about this or know anyone who is looking to buy or sell please give me a call. I am never too busy for your referrals!
~Danielle 360.483.6490

% Change from Oct. to Nov.

Ferndale

Pendings

69%

Solds

-10%

Lynden

Pendings

156%

Solds

-45%

Blaine

Pendings

173%

Solds

44%

Nooksack Area

Pendings

-25%

Solds

-11%

Bellingham

Pendings

144%

Solds

-4%

Disclaimer: While these statistics are deemed reliable, they cannot be guaranteed.

Want to Build a Fence in Lynden?

If you are a Lynden, WA resident and are wondering what the requirements are before building a fence in Lynden (if any), I have the answers for you. First, you will need a fence installation permit (can obtain one at the local city hall or contact me for a copy (360.483.6490).
Some requirements:
Need to draw a detailed site plan (including your property lines, location of building, setbacks if applicable, and location of streets).
Fence must end at least 5 feet back from front corner of house.
Fence must end at least 30 feet back from road or street.
Fence must be at least 36″ from sidewalk.
Fence height can be 72″ max.
Information is deemed reliable, but cannot be guaranteed.

ATTENTION BUYERS!!!*** Important info

After working the fair booth this year, I’ve discovered that a lot of buyers may not know something very important about how buying real estate works (we also didn’t know this when we first bought). Buyers, you DO NOT have to pay at all to use your own Realtor to find a house to buy. This service is FREE to you. The seller incurs this cost when your agent brings you to buy their home. I encourange all buyers to get their own Realtor to assist in their search and represent their interests in the transaction! If you have any questions on this, please call me anytime (360.483.6490)!

Buying a Short Sale

Many buyers in today’s market are looking at short sales due to the value for the $. Some key points for buyers to know when looking at offering on a short sale:
1) Closing the transaction could take up to 6 months.
2) If the short sale has a ‘bank approved’ price, it should close more easily and quickly depending on how close the buyer’s offer is to that listed price.
3) If you have to sell your home first, a short sale or bank owned home will not be an option. Banks will not allow contingencies for selling the buyer’s home typically.
4) Keep in mind that just because the list price is low or your low offer was accepted by the seller, that does not mean the bank will accept even near that amount. Typically, the banks’ approved price will depend on how much the home appraises for and what is owed.
For more information and assistance in finding a short sale or good deal for you, please contact Danielle Groeneweg (360.483.6490) or Julie Carter (360.296.6092) anytime!

Top 6 worst reno’s for the $

According to Bankrate.com, Remodeling Magazine takes note of the newest updates/renovations and calculates the rate of return when home owner’s sell. Below are the top 6 WORST ways to spend money on a renovation or update.
#1) Custom Home Office Addition/Remodel
“Nationally, homeowners spent an average of $28,888 and can expect to recoup about 45.8 percent at resale, according to the report. (Bankrate.com)
#2) Back up generator
“On average, when homeowners have a heavy-duty backup power generator installed, they spend about $14,718, according to the report. Average amount of the price recovered at resale time: 48.5 percent.” (Bankrate.com)
#3) Sunroom Addition
“The national average for a sunroom addition is $75,224, according to the report. Homeowners can expect to recoup about 48.6 percent when they sell.” (Bankrate.com)
#4) Upscale Master Suite Addition
“The average cost is about $232,062, according to the report. Sellers can expect to recover about 52.7 percent at resale.” (Bankrate.com)
#5) Bathroom Addition
“For a moderately outfitted addition with synthetic stone or plastic laminate surfaces, figure parting with about $21,695, according to the Remodeling report. Go upscale, with finishes like premium marble or fine tile, and you can easily spend in the neighborhood of $40,710. Either way, you get about the same return: 53 cents on the dollar.” (Bankrate.com)
#6) Upscale Garage Addition
“The price tag for a top-of-the-line detached two-car with all the trimmings is about $90,053, according to the report. You can expect to recover about 53.6 percent of that when you sell.” (Bankrate.com
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