Hackney's Houses

Some interesting statistics provided by Tom Follis, Whatcom County's premier appraiser.

Population Increases from 2000-2010

• Bellingham     16.4%
• Blaine            24%
• Ferndale        27.9%
• Lynden          31.3%
• Nooksack      42.6%

Which gives the county a 19.8% population increase as a whole which gives us approximately 195,000 residents. 

Our short term crystal ball remains as foggy and unclear as everyone elses, but what these statistics tell me is that the "theory" of the Echo Boom population isn't so theoritical. 

With an increasing population and new home building on the sidelines for the past several years, we WILL see another housing boom.  Maybe not BOOM that we got glossy eyed over in our recent past, but a boom none-the-less. 

It's all about supply and demand.  It's a cyclical business...always has alway will be. 

Well if November, December, and the first several days of "Twenty-11" are any indication, then we will see some steady progress in market recovery this year. 

2010 brought us a strong start right up through the tax credit, then things dropped off significantly. 

Twenty-11 will be interesting to see how thing unfold with consumer confidence, mortgage rates, and continued increases in foreclosured homes coming on to the market.  Many don't realize that there is a significant number of foreclosed homes that are not "on the market" at this time.  Like a damn releasing water, how they release these foreclosed homes on the market will impact everyone. 

We are fortunate enough to live in an area that sees very low numbers of short sales, foreclosures, and bank owned homes in comparisons to other parts of the nation...BUT we are not immune, so plan according.

The saying holds true...

"Those who fail to plan....Plan to Fail"

Don't be one of "Those People" ...give me a call or drop me a line if you'd like some help in your plan for success.

Cheers to a fantastic New Year

~Sean

Here we are at the proverbial end of the year.  A time for reflection, looking to the future with a clean slate, and top 10 lists!

Here's my 2010 Top Ten Real Estate Observations List

1.  Rates were at INSANE historical lows. 

2.  I think some people will kick themselves for "waiting for prices to bottom out"

3.  Emotions played a more pivitol role than every before and often times trumped logic

4.  Sellers were not aggressive enough up front in pricing and typically brought in less as a result

5.  Despite what the Bellingham Herald wants you to believe, Whatcom County remained one of the lowest areas in the nation for short sales, REOs, and foreclosures.

6.  There were some VERY happy buyers this year!

7.  Despite so many agents leaving the business this year, it is still very clear that NOT All Agents are Created Equally!!  You'll get what you pay for.

8.  We are in unprecedented times that has OPPORTUNITY everywhere.

9.  With all the technology tools, Facebook, Twitter, etc...the highest ROI (return on investment) is your Personal Relationships and Networking

10.  "Twenty 11" will be similar in many respects to this past year, but we'll see consumer confidence built a bit

To all my clients, friends, and family...thank you for your referrals and business. 

My practice is built upon a TWO C foundation: Character & Competence.  I don't think you can be successful without both working in conjunction with one another. 

Your referrals are cornerstone of this practice and the reason behind its success.

Cheers to a great New Year

~Sean

• The median age of a seller is 46
• Married couple households account for 3/4 of sellers
• For recently sold homes, sellers received 95% of listing price
• 68% of sellers remain in the same state when they purchase their next home
• The typical home seller has owned their home for 7 years
• 50% of sellers purchased homes that were larger than the home they sold
• 93% of sellers listed their home on the MLS
• 85% of sellers sold their home with the assistance of a real estate agent

**Sources: NAR, The Nielson Company, U.S. Census Bureau, Federal Reserve Board, RealTrends, RISMedia, Buffini & Company

If you are at all familiar with the Fannie Mae Homepath program, you'll know that it is already a great opportunity.  The largest benefit I believe is the lack of Mortgage Insurance, even if you do not have 20% down!!!  This can mean the difference between home ownership or not for many. 

Fannie Mae just announced that they are offering up an additional incentive.

Here are the details: