Danielle Groeneweg

Danielle Groeneweg, Realtor®

MANAGING BROKER

Articles

Sellers – when is the best time to list?

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If you are thinking of selling your home, how do you know when the best time to list is? There are several factors to be considered when thinking of the prime time to list your home
First – how is the inventory currently in your local market? If you aren’t sure – just ask me and I’ll pull stats for your local market. If the inventory of a comparable house to yours has decreased (as in not much competition for you), not only is it a great time to list, but you can ask more for your home.
Second – what time of year is it? It’s commonly known that the best time to list your home is in the Spring before the busier Summer months, but that means everyone else is thinking alike and will or plan to list then as well. Consider the balance of having more competition vs more buyers looking. You may find it’s better to list in the off months (like January) to get a head start on the rest of potential incoming inventory.
Finally – how ready is your home for listing? If you have any major repairs or cleaning to do, it’s best to wait until you have completed your projects than list while you are in the midst of them. You don’t have to make your home perfect for listing, but you can sometimes sell for $10,000 more when your home is properly prepared before listing. For a complete list of pre-listing suggestions, visit the ‘Sellers’ page of my website.
If you live in Lynden and your home would currently be worth $300,000 or less aprx, the market is very hot still in this price range.
As always, for more info or assistance, please contact me anytime! ~Danielle Groeneweg 360.483.6490

Inventory Reducing – Prices show Rise

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According to statistics from Northwest Multiple Listing Services, inventory in Whatcom County has decreased when compared to 2011. From Jan-Sept 2011 there were aprx 2950 new listings in Whatcom County and from Jan-Sept 2012 there were aprx 2814. On the other hand, pendings and closed sales have risen during those same comparable time frames. For 2011, there were 2005 pendings total and for 2012 there were 2196 (from Jan-Sept). For 2011 there were 1378 closed sales and for 2012 there were 1520 (from Jan-Sept). These are just Residential listings and do not include commmercial, land, or multi family.
According to same statistics for same time period, Average price of Active listings, Median price of Active listings, Average price of Pending sales, and Average price closed sales are all indicating a slight increase (with the highest increase being in average Active listing price).
What does all this mean?
~If you are a buyer, it is time to move in or move on. If you wait too much longer, you will very likely miss the perfect storm we are experiencing in today’s market of home prices and interest rates (which are still at record lows).
~If you are a seller, it is a good time to put your home on the market if you are looking to make a move. Not only will you get more for your home now than you would’ve in the last few years, but since inventory is down you may be entering a much more competitive market (depending on your neighborhood, house, and price).
For more information, to find out what your home is worth or how competitive the market you are currently shopping in is, please contact me (Danielle) anytime!
~ 360.483.6490

Market even HOTTER at end of summer!

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This is insane around here lately! We are seeing homes pending and selling left and right in Whatcom Co; people are scrambling to get in before the Fall starts to settle and the amount of action is inspiring!

Just as of today 8/28/12 (as in the last 24 hrs only), we have 20 new pendings and 11 solds. If you are looking to buy, don’t hesitate too long if you find that perfect home, it might be swept out from under you with these conditions. If you are even thinking of selling, you may be surprised how fast your home moves on the market today if priced and shown right.

If you have any questions or want more info, as always call me anytime ?

~Danielle 360.483.6490

Bank Owned & Short Sales REDUCED

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The number of bank owned and short sale properties in Whatcom County has decreased by 12% in the last 3 months! What does this mean for the market? I’m sure you guessed it, that means that less properties under duress are coming on the market in keeping w/the number selling. This is true of properties in general in our lovely county here, but it’s a good sign that these ones are starting to stabalize so that seller’s can start to expect more money for their homes instead of continually dropping their prices.
For more information on the average days on market, sale price and more – visit www.whatcomcountysearch.com and click on Current Market Stats or call Danielle at 360.483.6490

Buying a Short Sale 101

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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)

Relay for Life in Lynden

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Come join us at Muljat North tonight at 6pm to participate in this amazing event celebrating life! It is located at the Lynden NW Washington Fairgrounds this year and rain or shine it will be busy. We have a tent again this year, so feel free to stop by and take a break from the rain ? Hope to see you there!

Check out our New Resources for Buying & Building Page!

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Visit this page to have the tools you need to find out about buying land and building or developing all in one place. This page is designed specifically to make it EZ on buyers, developers, and property owners to access all the important resources necessary to complete their project. For more information or if you have any questions about these resources, please contact Danielle Groeneweg 360.483.6490

Amazing progress in just last 30 days!

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There have never been more positive signs of late that the market is finally picking back up. In Lynden locally, we have seen a total of 18 pendings in just the last 15 days (and that is single family residences only)! Many of these recent pendings are brand new constructions, so if you are out looking for one you better be ready to move on it ? Also, just in the last month, there have been 19 sold SFR’s in Lynden. Interest rates are still record low, and buyers are being brilliant and taking advantage! There’s never a better time to buy or sell than right now in the late Spring, early Summer. This is very good news for our economy!

ATTENTION Home Owners under Duress!

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If you are currently in the process of short selling your home or your home is going to be foreclosed but you are trying to put off as long as possible, there is some very important info you need to know:

There is currently a Mortgage Forgiveness Debt Relief Act of 2007 that Bush started and was extended. As of right now however, it EXPIRES 12/31/12 unless our gov’t renews. What does this mean for you?

Currently the act protects those who sold their home under duress or had their home foreclosed from them from having to pay taxes on the forgiven debt (ie the shorted amount when sold via short sale or the amount still owed bank when foreclosed). Without this Act, the forgiven debt can be counted as taxable income for the year the short sale or foreclosure occured.

As of 1/1/2013, that will be the case if this Act is not renewed. Your National Association of Realtors is working hard to get it renewed, but it may not happen. Just beware that if your short sale or foreclosure does not occur by 12/31/2012, you may be liable for taxes on the forgiven debt amount.

For more info visit

http://www.irs.gov/individuals/article/0,,id=179414,00.html