New Realtor, Maaike Vogel!

Welcome Maaike! We are excited to see where this journey takes you!MeetMaaike

5 Reasons to Hire a Real Estate Professional!

Before you enter the market, buying or selling, read this article posted by www.simplifyingthemarket.com All the information provided will help you understand why its helpful to hire a real restate professional! 

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“Whether you are buying or selling a home, it can be quite the adventure. In this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO,’ but it’s not as easy as it may seem. That’s why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal!

The 5 reasons you need a real estate professional in your corner haven’t changed but have rather been strengthened by the projections of higher mortgage interest rates and home prices as the market continues to pick up steam.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate professional is an expert in his or her market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. So you found your dream house, now what?

There are over 230 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to ensure you achieve your dream?

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. After looking at the list of parties that you will need to be prepared to negotiate with, you’ll soon realize the value in selecting a real estate professional. From the buyers (who want the best deals possible), to the home inspection companies, all the way to the appraisers, there are at least 11 different people who you will need to be knowledgeable of, and answer to, during the process.

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start in order to attract the right buyers and shorten the amount of time that it’s on the market. You need someone who is not emotionally connected to your home to give you its true value. According to a recent article by the National Association of Realtors, FSBOs achieve prices significantly lower than the prices of similar properties sold by real estate agents:

FSBOs earn an average of $60,000 to $90,000 less on the sale of their home than sellers who work with a real estate agent.”

Get the most out of your transaction by hiring a professional!

5. Do you know what’s really going on in the market?

There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line

You wouldn’t replace the engine in your car without a trusted mechanic, so why would you make one of the most important financial decisions of your life without hiring a real estate professional?”

 

 

Source: http://www.simplifyingthemarket.com/en/2018/08/07/5-reasons-to-hire-a-real-estate-professional-before-entering-the-market/

Backyard BBQs ahead!

Still looking for the perfect home? Look no further! This beautiful home has so much to offer for your summertime entertaining.

BogaardHouse-Covered wrap-around deck off the dining room

-Covered patio off the family room

-Mountain Views!

-Manicured gardens & sprinkler system!

-Views from almost every room in the house!

-Florida room with tiled floors & cathedral ceilings

BogaardHouse4 BogaardHouse5boogblog2 BoogardHouse21005 E Front Street, #Lynden | MLS# 1268699 | $449,000
Tour Property: http://www.tourfactory.com/1788856

Why Getting Pre-Approved Should Be Your First Step

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In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.” 

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Start the process today! 

Source: https://www.keepingcurrentmatters.com/2017/12/11/why-getting-pre-approved-should-be-your-first-step-2/

Cindy Huaracha, Real Estate Broker

We are pleased to announce that a new real estate broker has joined our firm. Cindy Huaracha, has teamed with Daisy Valladares. Drop by the office and meet with Cindy! Hablo Espanol

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Whatcom County Home & Garden Show

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The Northwest Washington Fairgrounds, will be hosting the Whatcom County Home & Garden Show this weekend, March 2 – 4, 2018.
It’s the 39th show presented by the Building Industry Association of Whatcom County.
Five thousand dollars in prizes will be given away throughout the event. A variety of food vendors as well as beer & wine tasting will be at the show. Friday evening is date night, and on Saturday there will be live music in the indoor garden area.
More than 160 exhibitors will be present at the show. Experts on home repairs, building, gardening, landscaping, garage doors, painting, closet systems, handyman services, flooring cabinets, appliances & more will be present.
If you have any Spring projects you’ll want to visit the Home Show for a myriad of ideas, newest products and advice.
Hours are Friday, 11:00 a.m. to 8:00 p.m.; Saturday, 10:00 a.m. to 8:00 p.m.; and Sunday, 11:00 a.m. to 5:00 p.m.

2018 Real Estate Predictions

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Below are predictions for the 2018 real estate market, based on data that was available at the time this was written:

Interest Rates – With the Tax Reform Bill and new infrastructure, we expect interest rates to rise. A climb to 4.0%-4.5% is probable but it is possible that if the economy grows at a good clip next year, we could see rates as high as 5%. We believe the average for the year will be about 4.6%. Although this rise will cause some buyers to regroup, it will not be enough to make a strong market shift and cause buyers to leave the market in droves.

Home Price Growth – With double-digit percentage price increases in many markets across the country in 2017, we believe we will move back to price inclines below 10% in those busy markets. In fact, it is foreseeable that the average for those areas that did see such strong increases in 2017 will scale back to about 4-7% gains in 2018. Nationally, prices are expected to increase about 3.2%. Between November 2016 and November 2017, in Whatcom County the median sales price grew by 9.8%; in our Lynden market, it grew 16.5%.

New Construction – Our country needs about 1.5 million new starts per year to maintain inventory, but since 2009 we have been short a cumulative almost 6 million units. This is one of the primary causes of our inventory shortage and what is driving prices up – demand outweighs supply. Local issues in many areas such as zoning and water rights are also capping new construction opportunity. In addition, the cost of building supplies is causing problems for our builders and we expect this problem to worsen in 2018.
Housing Inventory – Although there are improvements in this category because we are adding some new housing units, it may take years or more for inventory levels to get back to a balanced level. Additionally, it is predicted that more buyers will be entering the market for a home as our economy is strong with low unemployment, which we suspect will get even lower due to our economy. According to the Bureau of Labor Statistics, the national unemployment rate stands at 4.1% for November 2017, which is the lowest it has been since December of 2000. it is predicted unemployment to be in the high 3% range by the end of 2018.

Market Stability – we are often asked when the bubble will burst or we will see another crash. We do not foresee this in the upcoming year. Although we are seeing prices rise quickly, the conditions that our national market is facing now are not the same as what we saw just a decade ago. There isn’t the easy access to credit as there was before the last crash when banks were more de-regulated. There aren’t enough new or resale homes to satiate current demand, unlike the building boom of the mid-2000s. Buyers are not overleveraged and, in many cases, have to put more cash down to compete in multiple-offer situations, allowing buyers to start in a higher equity position. Based on our history and the facts that are in front of us, I don’t believe another crash is likely at all.

The Muljat Group North real estate office is excited for what 2018 has in store! For additional information and predictions on our local market, please call our office at 360-354-4242.

Mortgage Rates Hold Steady

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Mortgage rates were in a holding pattern this week, even after the Federal Reserve voted Wednesday to hike its benchmark interest rate.

“As widely expected, the Fed increased the federal funds target rate this week for the third time in 2017,” says Len Kiefer, Freddie Mac’s deputy chief economist. “The market had already priced in the rate hike, so long-term interest rates—including mortgage rates—hardly moved. Mortgage rates held relatively flat across the board, with the 30-year fixed mortgage rate inching down 1 basis point to 3.93 percent in this week’s survey. Mortgage rates have been in a holding pattern for the fourth quarter, remaining within a 10 basis point range since October.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 14:
•30-year fixed-rate mortgages: averaged 3.93 percent, with an average 0.5 point, dropping from last week’s 3.94 percent average. Last year at this time, 30-year rates averaged 4.16 percent.
•15-year fixed-rate mortgages: averaged 3.36 percent, with an average 0.5 point, the same as last week. A year ago, 15-year rates averaged 3.37 percent.
•5-year hybrid adjustable rate mortgages: averaged 3.36 percent, with an average 0.3 point, rising from last week’s 3.35 percent average. A year ago, 5-year ARMs averaged 3.19 percent.

Source: Freddie Mac

2017 Northwest Washington Fair

Fair 2017
Five days until the Northwest Washington Fair in Lynden. You don’t want to miss out on any of the fun! Carnival rides, great food fair, awesome grandstand entertainers, demolition derby, rodeo, animal exhibits, quilts, canning, arts, photography, 4H and FFA exhibits. For over 100 years the Northwest Washington Fair has highlighted the agriculture of the Whatcom County area. Dairy and beef cattle, horses, and many other species of livestock are shown by 4H, FFA and Open Class exhibitors. There are hundreds of exhibits featuring baked goods, canning, flowers and fresh produce grown locally.

The Fair is located at 1775 Front Street, Lynden.
The gates open at 9 a.m. each day and close at 10 p.m.. Carnival hours are 11 a.m. to 11 p.m.

Demo Derby is on Monday, August 14, with shows happening at 12:30 p.m. and 7:30 p.m.

Lynden PRCA Rodeo is happening August 15 & August 16. The top cowboys in the Professional Rodeo Cowboys Association will compete in the 13th annual rodeo. The event includes bull riding, bareback riding, saddle bronc riding, steer wrestling, tie-down roping, team roping and barrel racing. Children 10 and younger will be admitted for FREE to the performances, which start at 7:30 p.m., both nights. Tickets are on sale now – get them while they last!

Grandstand entertainers this year include the rock band, Night Ranger, which performs 80-100 live shows annually and they continue to release new music even though the band is 35 years old. Night Ranger will be rocking the stage on August 17. Musical country star and ‘American Idol’ winner of 2011, Scotty McCreery will be performing on August 18. “Fluffy” Gabriel Iglesias, first time comedian to headline a fair grandstand show on Saturday, evening August 19.

Ride free to the Fair and everywhere! WTA is community driven and ride the buses free during August 13-19. Also, watch out for the many parking lots around town that offer free bus rides to and from the fair!

Our real estate booth will be set up in the commercial exhibit building – please drop by and say hello! Hope to see you at the Northwest Washington Fair!

19th Annual Curt Maberry Memorial Classic 3-On-3

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The Curt Maberry 3-On-3 literally took over Lynden last weekend. Our office presents and organizes this community event every year and next year will be the 20th year. We welcomed over 200 teams to Lynden with athletes from kindergarten to men’s competitive.
The 3-On-3 is held in conjunction with the Northwest Raspberry Festival with fun-filled activities on Friday and Saturday.
Live music, a classic car & truck show, street market, kid’s zone, a food court, and street vendors were just a few of the highlights that were held downtown.
The $2 icecream icecream from Darigold topped with local raspberries from Maberry Farms is always a delight and favorite dessert.
If you missed the 2017 Northwest Raspberry Festival or the Curt Maberry Memorial 3-on-3 mark your calendars for the 3rd weekend of July, 2018! See you next year!