Northwest Living | Bellingham Real Estate Market

Inman News recently released a list of the 100 most influential people associated with the real estate business that reflects the industry’s best and brightest this business has to offer.  The list also includes some people outside the business who were considered influential to the home buying and home selling business of real estate.  According to Inman the people of this list embraced leadership, innovation, ingenuity, power and persistence.

The list was categorized into six categories that included: Brokerage, Technology and Online Real Estate, Trade associations and goverment agencies, media heavyweights, economist and Academics, Mortgage and ancillary services, and a bonus area called notables.

The list included some Northwest people and you can find them by going to 100 most influential real estate leaders.

For all your Bellingham real estate needs visit Bellingham WA Homes.

 Fall has finally arrived here in the Northwest, one of my favorite times of the year.  There are so many things to do here in Whatcom County even as our warm weather slowly slips away. 

In writing this post I was thinking of putting together a to do list of things my family and I enjoy doing during the fall and see if we could work some of them into our schedule.  Then I realized that if someone were to travel to our beautiful area of the country during this time, maybe they would like to know what locals enjoy doing as well.  So here is a list of just some of the things one could also do while visiting our Northwest corner of Washington state:

1. Harvest time is a great way to visit one of our local farms and buy some fresh apples, pears, pumkins, squash, sweet corn, and many more vegetables fresh off the farm. Try this link for a list of local farms that sell their fruit, vegetables, jams and nuts at their farm stands - Whatcom County harvest time.  Another great source for local fruits and vegetables would be for one to visit the Bellingham Farmers Market located downtown. Lynden, WA has their annual Lynden Harvest Festival October 18 & 19, 2007.
2. Visit Mt. Baker and the beautiful drive along Mt. Baker Highway.  During the month of October one can enjoy all the autumn colors that fills the trees. The road travels along the Nooksack River at several points and on many occassions in September, thru November you might be able to see schools of salmon make their way up the river to spawn. Check the weather reports for Mt. Baker snow reports if you plan to travel farther up the mountain.  However, if your planning to go skiing or boarding, enjoy Mt. Baker Skiing because its one of the best ski areas in the Northwest.
3. Tour Western Washington University campus. The fall brings the arrival of  12,000 WWU students and the campus comes to life in activity. Once you find some parking, tour some of the architecture and art that covers this gorgeous campus and find out why its rated as one of the best universities on the west coast.
4. Take in live theatre at the Bellingham Theatre Guild. The fall is usually when things start to get busy at the Guild, so go check out their web site and take a show in. Mount Baker Theatre would be well worth checking out as well. Before the show try dinner downtown or nearby on the water front at one of the fine restraunts.  The Downtown Bellingham web site can help you on dining and shopping.
5. Visit Historic Fairhaven and all that it has to offer. So much has happened over the last ten years that if you had visited then and now, there would be a noticeable difference. The skyline has changed thats for sure, with a lot of buildiing going on in the District.
6. Walk around Lake Padden or hike one of the several trails that line Bellingham including the interurban trail, Whatcom Falls trail system, and more at Bellingham walking trails. Fall time is a great time to hike and take in all the wonderful colors of the fall in this beautiful area we call home.
7. Lynden Craft and Antique Show is held every fall during the month of October.  The event is held at the Northwest Washington Fairgrounds in Lynden, Washington and will be going on from October 18, 19, & 20, 2007.
8. Whatcom Artist Studio Tour will be held from Oct. 6 to Oct. 14, 2007.  52 artists participate in the 13th annual Whatcom Artist Studio Tour. They open their studios to the public for two weekends. The tour is a perfect venue to shop for fine art and craft, and see artists at work.
9. Try the Whatcom Symphony Orchestra which is celebrating 32 years of harmony with Whatcom county.
10. Lighted Christmas Parade and Sinterklaas, the patron saint of the Dutch, welcomes in the holidays each year as he enters Lynden at 1 pm atop his white horse, accompanied by his helper, Zwarte Piet, and Lynden’s Youth Klompen Dancers. Children of all ages are delighted by Sinterklaas’ visit the first Saturday of each December. The highlight of the day is the annual Lighted Christmas Parade at 6 pm.
11. Jingle Bell Run - 20th Annual Jingle Bell Run/Walk in Downtown Bellingham on the corner of Cornwall & York. Two-mile Walk; four-mile Run, held Dec. 8, 2007.
12. Enjoy some fresh sea food at one our local restaurants. Fall is a great time to enjoy fresh salmon, halibut, tuna and of course Northwest clam chowder.  There’s so many restruants to recommend and I really don’t want to leave any out. So, try the following: Anthony’s at Squalicum Harbor, Cliff House, D’Anna’s Café Italiano, Harborside Restaurant, The Oyster Bar, and The Keg Restaurant. Here are some links to other Restraunts in the Whatcom County area: Bellingham WA Restaurants, Taste of Whatcom, and Bellingham Restaurants.
13. For even more things to do this fall in Whatcom County visit Bellingham Whatcom County Tourism.
14. Nearby you might want to attend the Leavenworth Octoberfest, the Skagit Valley Farm Tour, and just over the border in British Columbia one could easily put together another list with 50 more things to do. Instead of putting it here, just go to Vancouver, British Columbia Tourism and have fun.

Even though this article is written in the Fall of 2007, any of these ideas can be done in years that follow or at any time of the year for that matter although the festivals will vary. Most of the event items are at or about the same time every fall. What ever you choose to do while visiting our home here in Whatcom County, enjoy yourself and be safe. And although this area is just one little corner of the world it has a wealth of beauty and depth which changes with each season. So enjoy and have a wonderful adventure this autumn!

We also have some nice links to more local information including area towns, Bellingham neighborhoods, shopping, restaurants and much more at the Bellingham WA Homes web site.

Frontier Financial Corp. has acquired Whidbey Island Bank in a move to improve its position in the Northwest area of Washington State.  The deal to purchase Whidbey Island Bank will cost Frontier about $191.1 million.

“We are absolutely thrilled to have Washington Banking join our organization,” stated John Dickson, Frontier Financial’s President and Chief Executive, in a prepared statement. ”Whidbey Island Bank is a high-quality organization that operates with a philosophy very similar to our own.”  He went on to say, “We believe this will be an outstanding combination of highly talented employees who bring with them a solid customer base, and we look forward to welcoming the Washington Banking team into the Frontier family.”

The holding company for Frontier Bank, Frontier Financial is headquartered in Western Washington. The terms of the agreement call for Frontier to pay approximately $21.40 per share to Washington Banking Co., the holding company of Whidbey Island Bank.

Frontier already owns 782,506 shares of Washington Banking common stock at a cost basis of $3.1 million. The transaction is expected to close in the first quarter of 2008.

Frontier operates 47 offices in Washington and plans to open its 48th location in October in Gig Harbor. Whidbey Island Bank has 20 branches in San Juan, Skagit, Island, Whatcom and Snohomish counties.

“The professionals on the Frontier team are amongst the finest bankers in the region, and I am confident that our organizations will both benefit from this combination,” said Michal Cann, chief executive of Washington Banking Co. “As we considered all of our strategic growth options, it became obvious that choosing to partner with Frontier would provide the greatest benefits and opportunities for our shareholders, employees, customers and the communities we serve.”

Following the merger, Cann will continue as senior vice president and regional manager. Additionally, one member of the Washington Banking board will be selected by Frontier to join the boards of Frontier.

Frontier previously announced a merger with the Bank of Salem that it is expected to close in the fourth quarter of 2007. Following the mergers with Bank of Salem and Washington Banking, Frontier’s total assets will be approximately $4.6 billion.

For all your Whatcom County real estate needs visit Bellingham WA Homes.

 Portland’s once-soaring housing prices are cooling and heading into a buyer’s market.  Just  nine months ago Portland was one of the last hot markets left over from the hot market we all experienced.  However, housing economists say very few sellers are reducing asking prices but may have to soon.

The Northwest has been one area of the country that has weathered the slow down in the housing market over the last two years.  For the most part the Northwest has experienced relatively low unemployment, great retail numbers and just the natural beauty of living in such a quality area.  But, with the rest of the country experiencing this slow down, the downward housing market has now reached this area as well.

The median home price remained at $300,000 — flat from the month before — and homes required nearly two months to sell on average, according to the Regional Multiple Listing Service, the areas main MLS service for home-sales.

The inventory of available homes hit 6.2 months, tied for the highest since 2003 and nearly double the figure from a year earlier.

So far, most sellers have tried to avoid dropping their prices.  It appears the sellers are just reluctant to reduce the prices on their homes and have a false sense about what their home is worth in this market.

At some point sellers will have to reduce prices to start getting offers or risk the chance of chasing a down market.  

Portland prices still are holding as well as any in the country. August’s median sale price was 9 percent higher than a year earlier.  But thats the homes that sold.  the staticians never factor in the hundreds that tested the market and never sold.

Jim Cramer, CNBC News really ripped the housing market on wednesday, but on thursday he said one of the only areas of the country thats holding it’s own was the Seattle housing market.  Listen to Cramer’s comment on the homes market in a CNBC video at this link, Seattle Real Estate.

Hang in there Northwest and like all real estate cycles, we’ll get through this one as well and get back to a normal market once again.

Jerry Campbell - Muljat Group - Bellingham, WA - Bellingham real estate

 Western Washington University’s new Web Design and Development Certificate program starts this fall.The program, offered through the university’s Extended Education and Summer Programs Office, is for novices who want to learn about producing a Web site, understand HTML, use advanced Web graphics and more.

Marie Raney, Web services manager for the university, will be the instructor. The course starts Oct. 11 and runs through winter and spring quarters on Thursday evenings.

Interested people should attend one of two information sessions: at 6:15 p.m. Thursday in the Communications Facility, Room 225, or at 6:15 p.m. Oct. 4 in the Communications Facilty, Room 224. For program details and registration information, go to www.ExtendedEd.wwu.edu or call 650-3650.

This is really good news for anyone in the Bellingham, WA and Whatcom County area that wants to take some quality classes from a great local resource like WWU without being a Western student.

I’ve had a chance to check out the web site above and I found it pretty easy to sign up for a class like this and others that are offered by Western’s Extended Ed program. 

I graduated from Western in their Business Admin BA program with a concentration in MIS (Management of Information Systems).  I would have to think the web design class would really enhance a small business home owner for developing their company’s web site.  It’s just a nice oportunity to take a great class from one of the best university’s on the west coast. 

Jerry Campbell - Muljat Group - Bellingham WA - Northwest Living.

What are the changes taking place today that will influence our business tomorrow? Learn what the experts at Real Estate Connect think the future of real estate will be like.

I’ve always admired Craig Newmark, the founder of Craigslist.com. He has a terrific sense of humor, especially when he referred to himself at this year’s Connect as “eye candy.” He is an amazing model for our industry. For a man who is worth billions, he describes himself as “just the customer service guy who answers the phone.” I have every confidence that Newmark takes customer service calls. At the heart of what our business should be, even in light of all the technological innovation, is being of service to those who elect to do business with us. Our business is not about just the numbers, it’s about making a difference to those who lives we touch.

Craigslist is in a sense, like a huge blog, because it’s constantly being added to and updated with unique content.  Since Craigslist is so interactive with millions of users it definetly is part of the wave of Web 2.0.  Craigslist founder says that what Web 2.0 offers is a chance for those who are “normal” to have a louder voice than the “crazies.” What does this have to do with real estate?

Newmark says that advertising today is about authenticity; it’s not about scripts or Madison Avenue advertising tactics. Instead, it’s real people telling real stories. It’s time to stop apologizing for who you are and connect with the world out there. Ultimately, it’s the personal chemistry that gets you the business, not how fancy your Web site or advertising copy is. Especailly with the real estate business, where it’s how a Realtor connects on a personally with their clients.

Hugh MacLeod in his keynote echoed similar sentiments. According to MacLeod, “The market for something to believe in is infinite.” MacLeod spoke extensively about “social objects.” A group of 1,000 baseballs could be identical. However, the one that Barry Bonds hits to set a new world record has extreme value. It’s not the object that has value, it’s the story. What matters are the conversations that we have with others about the social object.

This dovetails with the work of Clotaire Rapaille, the marketing guru for 50 of the Fortune 100 companies. Americans are not really buying the bricks and mortar — what they’re really buying is the dream of home ownership.

Web 2.0 is about sharing our experiences. Coca Cola and Doritos elected to have their customers compete to see who could create the best commercial. Customers voted for their favorite. They talked to their friends, argued for why their choice was best, and ultimately created more buzz and word-of-mouth marketing than any well-executed advertising campaign from an agency could generate.

We are already being inundated with stories and pictures from numerous sources. A great video can give you an international reputation in just hours. Sites such as Flickr.com allow us to share our photos. YouTube.com, HelloWorld.com, BlipTV.com and Blinx.com are places to share our videos. Blogs and social networks such as Facebook.com, Linkedin.com, RealTown and MySpace.com are creating international communities of like-minded people where they share their experiences and seek advice. Sites such as Twitter.com allow people to share what they’re doing this moment.

As computers expand from dual processors to 64 processors or even more, our ability to access full-length, high-quality video and even three dimensional communications will follow. The new “maplets” from Google allow you to populate those maps with gas stations, museums, your listings, or just about any other information that you would like to include. Microsoft’s Virtual Earth is also moving into providing the equivalent of 3-D imagery.

Here’s the bottom line: our clients need us to provide them with a stellar customer experience. They want us to be their trusted advisor and a trusted source for timely information about current market conditions. They want to interact with us in a fast, fun and easy-to-use environment. We must be credible; we must be authentic. We need to help them manage their expectations about what they’re buying. They want their information now and they expect us to be mobile. The business of the future belongs to those who are willing to step forward and integrate these innovations in their business.

Perhaps this seems like a tall order for an industry that has been slow to adapt to the Web. If Craig Newmark believes Web 2.0 may be the vehicle for peace in the Middle East, then is it too much to hope for that our industry will embrace these changes to create an entirely new way of conducting business in the 21st century?  Via Bernice Ross, a national speaker and CEO of Realestatecoach.com, the author of “Waging War on Real Estate’s Discounters” and “Who’s the Best Person to Sell My House?” Both are available online. She can be reached at bernice@realestatecoach.com or visit her blog at www.LuxuryClues.com.

 About two years ago I was attending the annual Washington State Association of Realtors Convention in Bellevue, WA and decided to take an afternoon class on the topic of Feng-shui.  I was a little skeptical at first, but after about thirty minutes of the class I realized maybe there is something to the way we show case a home and it’s energy.

 I’ve actually put some of these ideas to use in some of my client listings up in the Bellingham WA real estate market and thought id pass along this article I recently read by Amy Hoak…

 Tammy Winfield made every effort to depersonalize her home and keep it free of clutter. She even baked cookies before prospective buyers came in for a look, hoping the homey scents would help persuade them to make an offer.

Still, the Truckee, Calif., home that she and her husband, Bill, put on the market last September sat for months without any takers.

“We were getting a lot of showings but not many offers,” she said.

Then, in February, they took some home-selling advice — and a leap of faith.

At the suggestion of their real-estate agent, they brought in a home stager who refocused the home using the concepts of feng shui. The couple closed on the sale of their home in March.

When their agent suggested using feng shui to stage the Winfield home, there wasn’t immediate acceptance of the idea.

“I was somewhat skeptical. My husband was more so,” Tammy Winfield said.

At its heart, feng shui involves adjusting a place’s energy and enhancing the perception of space, often done by reconsidering furniture placement, said Christine Ayres, who staged the Winfields’ home and also co-wrote the book “Sell Your Home with Feng Shui.”

It’s a technique that has been around for hundreds — some say thousands — of years, she said. While the concept has long thrived in China, it’s only recently been embraced in the United States.

A home with a good flow of energy is one that makes someone feel comfortable immediately; a home without it, on some level, makes a person want to leave, Ayers said.

Feng shui also can be used to create a clear path to a home’s “room of first impression,” the room that will make the biggest impact on a buyer, Ayres added.

“Most Realtors are very open to it. They’re going to use any tool possible to help market the property,” Ayres said. There’s also little cost involved, she added.

Some tips to consider for those who want to try feng shui to sell their home:

Furniture shouldn’t be in the direct path of the entrance of the room, said Cynthia Chomos, a feng shui consultant, speaker, teacher and founder of the Feng Shui School for Real Estate Sales in Seattle, Washington.

For example, if the back of a couch faces a room’s entrance, the piece of furniture can cause a person to “pingpong” back to the door, Ayres said.

Chomos also advised having a solid wall of support behind a key piece of furniture — a rule that makes it a bad idea to place a bed under a bedroom window.

The front door, “the mouth of the house” should get special attention because “it’s where the house inhales its vitality and brings in the buyer,” Ayres said.

Spruce it up with a fresh coat of paint, replace scratched hardware or frame the door with matching pots, which has the visual effect of widening it, she said.

If potted plants flank the house, they shouldn’t have sharp, pointed leaves, Chomos said. A plant such as a palm can appear aggressive; “the last thing we want are sharp points pointing at a buyer’s stomach,” she said.

Ayres also suggests hanging a wind chime at the front, right corner of the home. That area is the buyer’s area, she said, where decisions regarding the sale might be made.  Via Amy Hoak.

The subprime fallout has made the once slam-dunk home loans more difficult to obtain. While some Puget Sound neighborhoods continue to be very active, exemplified by one Bainbridge Island home drawing nine offers in one day, other areas have slowed considerably.

In addition, the first notion of back to school already has hit many second-home owners who are beginning to schedule the winterization of the family cabin. Instead of going through another off-season with little use and significant maintenance, some owners will use the last few weeks of the summer season to show and hopefully sell the family getaway, raising for-sale real estate inventory levels in popular areas.

If your house or cabin already has been sitting for sale long enough to bite into your comfort and affordability zones, you might want to consider a lease option.

A lease with an option to buy often can solve a two-mortgage problem for a seller, and provide a cash-poor buyer with an opportunity to “try out” a house while getting a portion on the monthly rent credited toward an eventual down payment.

Many sellers make a commitment to purchase another house contingent on selling the one they’re already in. But when it comes time to purchase the second house, or lose it, the prospective buyer can be faced with making payments on two homes if the first one has not sold.

A 12- to 18-month lease agreement, with an option to buy within the lease period, can solve problems. Here’s how a typical lease-option works:

The buyer and seller agree on a purchase price, usually a figure somewhere between today’s market value and the anticipated market value 12 months down the road.

The seller gives up tomorrow’s presumably higher value for money in hand today. The buyer pays a bit more than today’s value in exchange for very little cash down. Let’s say buyer and seller agree the price will be $335,000.

The seller charges the buyer a nonrefundable fee for agreeing to this option. The amount can vary depending on factors such as how eager the seller is to move and the size and quality of the house. Typically, the higher the fee, the better the buyer maintains the property.

Let’s use $3,000 for the fee in our hypothetical transaction. The fee is in addition to the monthly lease payments. And we’ll have the seller give the buyer the right to purchase the property for $335,000 at any time within the 12-month lease period. If the option is exercised, the fee could be considered part of the down payment.

The lessee has made no down payment, hence the monthly option fee is typically higher than rental market rates. The two parties agree on what portion of the rent will be applied to the down payment. Any amount can be credited. For example, if the monthly fee is $2,000, $800 could be credited to the down payment. (If the seller really is not eager to sell, he may not agree to a higher rent credit.)

Buyer and seller must be sure to specify both lease and sale terms in the agreement. For example, when the time comes for the buyer to exercise the option, if the interest rates are at 8 percent, the buyer may not be able to qualify for a loan. It’s a good idea to set an interest-rate ceiling in the agreement, or ask the seller to finance the home when conventional rates hit a certain level.

Sellers should read their mortgage agreements carefully before entering a lease-option agreement. Some lenders may activate a “due-on-sale” clause if the seller enters into a lease-option with another party. Many times, lenders will permit a specific lease-option period if notified in advance. And lenders usually are more willing to participate when they are assured of future business — like the seller’s or buyer’s new mortgage loan.

Some realty agents have been reluctant to seek lease options for clients because they have been unwilling to gamble their commissions on whether the option would be exercised. Others are skittish about deferring their commission until a deal is solidified. However, when open-minded agents understand a lease-option could keep a deal together and result in future business, the concept is readily accepted.

What’s the once-popular saying … a small piece of something is better than a large piece of nothing? Via HeraldNet and Tom Kelly