All posts by Jerry Blankers

CURRENT MARKET TRENDS

Real Estate

THE TIME IS NOW!
If you are thinking about Selling or Buying a home THE TIME IS NOW! Our inventory is dangerously low. When you consider the stats comparing December 2011 to December 2012 in the Lynden area, there are 46% less homes on the market, while the homes sold for the same period has exactly doubled, the pending sales were up 425% and the price per sq.ft. of those homes sold was up 7% which is a great indicator of the current market trends.

With the interest rates still at an all time low and inventory down with prices on the rise now is the time to jump in the market.

Jerry Blankers | 505 Front Street | Lynden | (360) 410-1297

2013 RE Forecast

Real Estate

QUOTE OF THE WEEK… “It is wise to keep in mind that neither success nor failure is ever final.”–Roger Babson, American entrepreneur and business theorist

INFO THAT HITS US WHERE WE LIVE… That’s a good thought as we watch the housing market, once doomed to failure, turn into a more successful enterprise. A national online real estate site surveyed more than 100 professional forecasters — economists, real estate experts, and investment and market strategists. They see growing optimism in the housing market, expecting home prices to rise 3.1% in 2013, after ending 2012 UP more than 4.6%. The site’s chief economist commented, “An organic recovery in the housing market really took hold in the latter half of 2012.”

He added: “Record levels of affordability and an improving overall economic picture… have us well positioned for continued growth, albeit slightly slower, in 2013 and beyond.” Case-Shiller’s chief economist offered, “It is clear the housing recovery is gathering strength… that housing is now contributing to the economy.” Finally, in their latest forecast, Fannie Mae economists expect 2013 existing home sales UP 9.6%, new home sales UP 19.5%, and rates on 30-year fixed-rate mortgages to stay near historical lows.

Courtesy of Nicole Walker, Sterling Bank

Fun Facts: The Numbers

Real Estate
7.9% – the increase in median home price in Washington State from 3rd Quarter 2011 to 3rd Quarter 2012
7,463 – 3rd Quarter 2012 building permits in Washington, up 33.2% from a year ago
5.7 – Months supply of homes on the market in Washington
36,863 – Homes listed for sale on MLS’s in Washington, lowest since 2005

96.6 – Housing Affordability Index for first time buyers, 2nd highest on record

Now is a great time to buy or sell!

More Good News For Real Estate

Real Estate
INFO THAT HITS US WHERE WE LIVE… What are rising now are asking prices for homes. A major Web real estate portal reports prices for homes listed there were up 3.8% in November versus a year ago. This is the largest year-over-year gain since the housing downturn began. In addition, the listing prices for the three months ending in November were up 0.8% from the prior three months. And the good news was widespread: annual gains were reported in 76 of the 100 largest metros. Finally, asking price gains are now beating rent price gains in the 25 largest rental markets.

The Wall Street Journal reports five factors influencing rising home prices: housing affordability, with price-to-rent and price-to-income ratios favoring home ownership in many markets; increased household formation; rising rents; a decrease in distressed sales; and record low inventories. The Fed’s recent Beige Book reported improving markets for single-family homes in 10 of the 12 Federal Reserve districts across the country. But one of the two exceptions still showed declining inventories and the other had been hurt by Hurricane Sandy.

Information courtesy of Nicole Walker, Sterling Bank

Prime Building Lots Available!

Real Estate
Choose from 11 newly listed lots
Perfect location with easy access to Bellingham, Everson, Lynden & Canada. The beautiful development of Maple Ridge overlooks the Nooksack Valley & Canadian Mountains, offers access to fish ponds & walking trails & loop design keeps traffic to a minimum. Large lots in a development of newer, well maintained homes. Excellent value with prices ranging from $67,500 to $86,500.
Click here for details.