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January 2020 Market Update
Bellingham Area
Happy New Year!
It's January! How about that snow last week? I love the beauty of the snow here in Bellingham, but wasn't sad to see it go, and for the kids to go back to school! I hope everyone had some fun in the snow with family and friends.
Now on to the market. Interest rates are still low. (30yr fixed currently at 3.675%, FHA is 3.25% which is a great rate for a low down option!). The December RE/MAX Housing Report shows that home prices are stagnant as compared to the same month last year. The average home price in Whatcom County this month is $388,000 whereas last December it was $399,000. This is a decrease of 2.8%.
As we start the month of January and are now in the winter season, we are seeing a seasonal slowdown and some price decreases in certain areas. We are also seeing a significant drop in inventory vs this time last year, which is making it a little harder on buyers right now. If you are toying with selling, now is a great time, as there is very little competition. Have questions or want to chat? Contact me.
Dig into the details of the December 2019 Market Reports below!
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Are you thinking about making a move? It's never too early to start planning, and I would love to be a part of your plan. If you have questions on where to begin, please reach out to me anytime. I would love to help!
I've attached links to a Free Buyer and Seller Guide that can help get the process started.
Buyer Guide
Seller Guide
Search Bellingham Area Homes
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- Average sold price: $407,000
- New Listings: 50
- Active Listings: 126
- Sold Listings: 94
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*Don't see your area? I'd be happy to send you a market update specific to your neighborhod or area, just shoot me a quick email!
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Home Loan Interest Rate Update
30 Year Fixed interest rate is 3.675%! If you are looking to buy a home this Fall, now is a great time to get your pre-approval, and get on your way to buying your new home! CLICK HERE for more information on Home Loans.
Contact me if you would like help to start the pre-approval process! 360-303-9596 is my direct number, I am always available!
*TIP: Since interest rates are so low, now might be a great time to REFINANCE! If you have question about if now is a good time to refi, call me!
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Local Business Spotlight
Alma Cider
Some friends of mine have started their own Cider Company here locally! It’s super exciting, especially for me because I don’t drink beer, and drink a lot of cider!
Check them out at almacider.com and support them at their release party on March 21st 2020 from 3-7pm at the Tulip Valley Winery!
Love trying new cider and am excited for this event!!
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2020 Home Buying Checklist
Buying a home in 2020? Start planning now.
- If you’re thinking of buying a home, plan ahead and stay on the right track, starting with pre-approval.
- Being proactive about the homebuying process will help set you up for success in each step.
- Make sure to work with a trusted real estate professional along the way, to help guide you through the homebuying steps specific to your area.
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In The NewsOur Bellingham in the New York TimesTo Fight Climate Change, One City May Ban Heating Homes With Natural Gas.
Seeking to do their part to avert climate change, dozens of cities are exploring ways to limit natural gas heating in new homes. One city may also require existing homeowners to make a switch. READ MORE....
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