Whatcom County Is Washington State's 10th Fastest Growing County

Whatcom county was Washington State's 10th fastest growing county last year. According to the Office of Financial Management, Whatcom county grew just over 2 percent, which is the highest rate in the last 6 years. Bellingham took in nearly 45 percent of those people moving to Whatcom county. Bellingham's growth is also astounding at nearly 2.5 percent in the last year, the highest in 6 years.

Many beleive the growth is fueled by the positive media exposure that the Bellingham Whatcom county area is receiving. "Top Places To Live..." lists with national coverage consistently place Bellingham on their lists. Comcined with the relatively inexpensive housing when compared with places with similar lifestyle offerings, the Bellingham Whatcom county area will liely continue to grow.

State data also reveals Whatcom county's fastest growing city. Nooksack, also the smallest in Whatcom county, grew by 71 people to a total of 1,075. This represented a rise of just over 7 percent.

Weekly Whatcom County Homes Sales Ratios

Weekly Whatcom County Homes Sales Ratios

The information below shows trends in the Whatcom County and Bellingham Real Estate Market. Watching the Pending to Active ratios from week to week allows us to see if sales rates are increasing or decreasing. The following are the Pending to Active ratios for this week:

Bellingham Home Listings
Active: 612
Pending: 143
Ratio: 23%
Last Week: 23%

Blaine / Birch Bay Home Listings
Active: 297
Pending: 40
Ratio: 13%
Last Week: 13%

Ferndale Home Listings
Active: 244
Pending: 37
Ratio: 15%
Last Week: 15%

Lynden Home Listings
Active: 158
Pending: 28
Ratio: 18%
Last Week: 18%

Sudden Valley Home Listings
Active: 140
Pending: 17
Ratio: 12%
Last Week: 12%

Commercial Real Estate In Bellingham

When taking the temperature of the real estate market in Bellingham, most of us think about residential real estate. After all, most people will only every own residential real estate, in the capacity of our primary residence. But, there is another mysterious world of real estate out there. Commercial.

When most of use think of commercial real estate, we think of Donald Trump, "Big Box" stores, and raw land. In the world of commercial real estate, developers earn big buck for seeing an opportunity in its infant stages, and doing all the leg work to the completion of a retail building. Once completed, the lessees pay the rent, the owner pays his loans, and he keeps the difference. It is that simple.

In Bellingham, commercial real estate seems to be strong. It seems everywhere you turn, there is new construction for retail space. The most recent and impressive example of this has been Bakerview Square. With over 60,000 square feet of retail space recently completed, at an occupancy rate of over 80%, they plan to build another 5,000 square feet in the near future.

There is also shortages of locations and building for large retailers such as the old Toys-R-Us and Good Guys building. Many big retailers fly into Bellingham and see lots of open spaces in the area. As they drool, then get off the airplane, they soon realize that most of the open spaces are wetlands and unavailable for building. This shortage is what is keeping commercial real estate as a hot market.

Many retailers are also finding that it is cheaper to buy smaller lots and build up. While many retail lessees are not used to this concept, it is something that will become more common. Other business are getting out of their leases all together, and buying existing buildings. A good example of this is TD Curran, the apple computer specialists in Bellingham. They leased in the new building at Kellogg and the Guide Meridian for several years. They have recently moved into an older single family residence building that is in the middle of the commercial area of the Guide Meridian, between the Olive Garden and Wal-Mart.

One thing is for sure, as we continue to look for new an innovative location for retail space in Bellingham, business will thrive. The market forces that drive the Whatcom county economy are strong. Business owners and entrepreneurs are energetic and resourceful citizens that love to rise to the occasion. Bellingham is and will continue to be a place of economic growth. If the customers are there, the businesses will meet their demand. America is great.

Bellingham And Paddling, 2 Birds Of A Feather

Bellingham Washington was recently named the best paddling town in the United States by Outside magazine. Match this with the statistic that nationwide, the number of people kayaking has increased by 23% in the last year, and you can see why kayaking in Bellingham is a great way to get involved in outdoor recreation.

Most kayakers would agree that you get to see some of the most breathtaking views from a kayak. Kayaks are able to go where many other types of boats cannot, or are not allowed. A few examples might be certain protected waterways and lakes, as well as some shallow coves and bays along the Pacific Northwest coastline.

Before venturing out in a kayak for the first time, there are some basics that need to be learned. Getting in and out of the boat, how to wear a spray skirt, how to get out of the boat if it is turned over ( known as a wet exit), and how to paddle. The best places to learn these skills in the Bellingham area are either the Elakah Expeditions www.elakah.com, or the Whatcom Association of Kayak Enthusiasts www.WakeKayak.com. Both of these organizations hold classes throughout the summer, as well as host half day trips to popular kayaking areas in Whatcom county. A few of these places include Chuckanut Bay and Lake Campbell.

Before you run out and buy a bunch of new gear, take this advice. Borrow someone else's boat, or buy a used one first. Then take some classes to see if you are going to be interested in kayaking. When you are ready to buy some gear, head down to Seattle's Northwest Outdoor Center. There you can try out over 20 different types of kayaks on Lake Union (for a fee). As your skills improve, you will likely sell your boat and buy others. Look for these used boats that others are selling.

Condos In Bellingham

Condos have become a permanent part of the real estate culture in Whatcom county. Retirees, first time home buyers, an students make up the largest segments of condo buyers. That is why one sees new projects starting everywhere from the Fairhaven waterfront, to Western Washington University, to the average neighborhoods.

As home prices continue to climb, condos offer first time home buyers alternatives that they can afford. They can get into the real estate market and start building equity towards their next purchase. With as little as 2-5 years of ownership, condos can offer an otherwise unqualified buyer, the opportunity to own the American Dream.

Students attending both Whatcom Community College, as well as Western Washington University, Will notice there are a lot of condo choice near their campuses. From the 250 plus unit Darby Estate complex near Whatcom Community College, to Cypress Place near WWU and 32nd Street, college students are either buying for them selves or having their parent buy for them. Parents can maintain the primary residence status of the condo even though their college kids are the ones living in them. This make condo buying an ideal option rather than throwing away money on rent.

As the baby boomers near retirement, downsizing is a big focus when it come to homes. Many want to trade in the large houses and high maintenance yards for the more relaxation and freedom that condo living offers. This group is by no means becoming lazy or unable to take care of their existing homes; rather, they want to spend their energies traveling and experience life's pleasures of retirement. To many, taking care of a large home and yard are not what they consider the joys of retirement. That is why condos are the logical home option for this growing demographic.

Condominiums are here to stay in Whatcom county and Bellingham. They fill an important demand in the real estate market. They also offer a lifestyle that allows people who would not otherwise want to own a home, to own a piece of real estate. As the years move forward, we will continue to see new condo projects come on the scene in Whatcom county.

Whatcom County Home Prices Still Rising

If you are a local Whatcom county resident, you might find it hard to believe that area home prices in the first quarter of 2007 are just over 8% higher than the same quarter of 2006. The national rise was just over 4%. What does this mean? Whatcom county's economic vitality is strong. Bellingham ranks 49 out of 265 metropolitan areas for price appreciation.

Why all the price reduced signs then? Simply, a home seller cannot sell their home for a 10-15% annual appreciation. The priced reduced signs are actually the homeowners that have to sell, and they are bringing their home prices down to the 8% mentioned above. The rest of the sellers just watch their homes sit on the market, until they finally get sick of keeping their home nice. Then they blame their real estate agent for not selling their over priced home. The home listing either expired, or the sellers cancels the listing.

As a Realtor, it is my job to distinguish between the homeowners who have to sell and those that do not. If you do not have to sell, you are going to be the one who wants to over price your home. You want me to gamble with my marketing dollars to see if you will get lucky and get your price. I will not do that. I am in the business to close 90-95% of the listings I take. This requires us to work as a team; for me to do a good job marketing and for you to listen to my price recommendations. I am not under pricing your home or just guessing. I am using comprehensive data on recent sold, expireds, cancelleds, and pendings, as well as actives. I then factor in the cumulative days on market. Basically, I am looking at the big picture, rather than focusing on what you "need" or "want" to get from the sale of your home.

Keller Williams Takes 3 Wins At Ski To Sea Parade

Keller Williams Western Realty took awards in 3 float categories at the Ski to Ski Grand Parade...one being the Grand Prize. The theme of their float was 50's tv characters. The Grand Parade is an annual even on the Saturday before Memorial day, as well as the day before the great Ski To Sea Race held in Whatcom County.

Athlete from all over the work compete in the event that starts at the top of Mt Baker and ends in Bellingham Bay.

Is Whatcom County Wealthy?

Many business and private investors use an area's average personal income when determining the economic viability of a potential investment location. Over the last few years, the Bellingham area has seen a faster than average increase in personal income and salaries for its residents.

Between 2004 and 2005, Bellingham saw an increase in personal income by just over 5%, high when compared to the national average of 4.2%. As for salaries, the Bellingham area increased 8.7%, while the national average was just over 5.5%.

This can be interpreted several ways. Some would argue that we are not getting any richer; rather, it is hard to easily pinpoint who is actually gaining the wealth. Is it a small segment of the rich getting richer? Or, was the wealth generated by the average Joe and the fast rise in real estate values?

Unemployment is also a good indicator of what is going on in Bellingham. In 2005, unemployment in our area was between 4% and 6%, while last year it was a record low of just over 3.5%.

When compared with Eastern Washington, we are a bit higher in overall personal income and salaries, but we are still rather low when compared to the rest of Western Washington. Our recent growth in economic vitality could lead many new private sector businesses and investors to take notice of our area. As growth moves up from the Seattle area, more money and wealth will come to out area. Let's keep an eye on the growth of business and commerce in Bellingham and Whatcom county.

While Home Sales Drop, Prices Still Rise

Most would say that the home sales market is beginning to cool. That depends on where you live and how you define "cool". In the state of Washington, the median home price rose 7.4 percent, while the overall sales volume dropped 9.2 percent. That means demand for homes is still strong, and those that can afford a home are still buying; however, there are less people that can afford homes as reflected by the overall drop in volume of sales.

When compared to this same time in 2006, the median home price in the state of Washington is just over $300,000, and increase of nearly 7.5%. When compared with the national average of a decline of nearly 2%.

Washington state is a great place to live and the home prices are reflecting this idea. More and more people are moving here from other areas of the country where home prices are higher. These buyers can afford to pay and drive home prices up. Many of these buyers are retirees, semi-retirees, or baby boomers looking to re-invent there life.

Bellingham Wa is one of the most ideal location to live in Washington state because of its proximity to both the Seattle area, as well as Vancouver British Columbia in neighboring Canada. Bellingham also offers a small town atmosphere, with all the amenities for outdoor recreation and nearness to big cities.

New Housing Development In Blaine Proposed

A proposal for a new housing development in Blaine has been submitted by developers Ken Hertz and Ken Schorr. Over 1,000 new homes and 48,000 square feet of commercial space, as well as over 11 miles of trails, is scheduled to be built on over 400 acres north of H Street.

The development is called Grandis Pond. The current proposal may take up to 8 months for the City of Blaine to approve. If started, the development would be phased in over a 17 year period, with about 60 housing units being built per year. Phase 1 would be about 340-plus houses in 7 neighborhoods, as well as 30-plus acres of open space. With all these plans in the works, Phase 1 would not begin uni til 2009.

To keep up with popular demand for smart growth, there would be nearly 80 acres of parks and open space, with another 150-plus acres for habitat protection and wildlife protection areas.

Annual Drive-By Giving At Cruisin' Coffee Bellingham

The Royal Family Kids Camp is holding their annual Drive-By Giving fund raiser with Soft Rock KAFE 104.3 today at all Whatcom county Cruisin' Coffee locations. All Baristas are donating their tips to the special summer camp designed to help in the recovery of abused and neglected kids in Whatcom county.

Checks are also accepted, made payable to Royal Family Kids Camp, 1400 Larrabee Bellingham, Wa 98225. More info can be received by calling 360-733-8135. http://www.rfkcbellingham.com

April 2007 Whatcom Market Reports

We have just published the April 2007 real estate market reports for Whatcom county. They can be viewed at the following web address:

http://www.BellinghamSelect.com/market-report.htm

We will also be publishing our Quarterly Newsletter on a monthly basis starting this month. Please come back often to read information relating to Bellingham and Whatcom county real estate.

Bellingham International Airport

I remember the first time I flew into the Bellingham International Airport. It was the fall of 2000. It was night, and I was overwhelmed with the smell of evergreen trees...it was quite pleasant. Since that brisk fall day nearly 7 years ago, I have made numerous trips in and out of Bellingham through the airport. I would not have thought there was much change going on; however, I have recently learned of some interesting statistics regarding our airport.

In 2002 the estimated yearly travelers from Bellingham International Airport was 60,000. This year, that number is expected to be 250,000! The biggest reason for this has been the addition of several new carriers such as Allegiant. There round trip flight to Las Vegas, Palm Springs, and Reno are opening up a lot of new traffic.

Most people would also be surprised to know that the single largest revenue producing activity at the airport is parking fees. They account for nearly $2 million dollars annually! Some of these dollars will be sued to buy new equipment designed to speed up the baggage handling procedures. FTA requires that every bag be visually inspected, which allows Bellingham handlers to process about 90 bags per hour. With new computer x-ray equipment, handlers would be able to process 200 bags per hour.

Skybus is one of the newest airlines that will be coming to the Bellingham area. They are out of the Ohio area, and they will be making many stops through the US. this will enable Bellingham residents and travelers to have fast travel and connection times throughout the US.

The Heritage flight museum is also located in the Bellingham International Airport. One can see nearly 30 aircraft from all eras of flight. Every third Saturday of the month, there is an Open House at the museum.

Bellingham International Airport is growing quickly...almost as fast as Whatcom county. The services they provide to travelers is making Bellingham a more convenient place to fly in and out of. Surprisingly, with all the growth, the airport only has 11 full-time employees! 8 of those are federally required fire fighters. I am excited to see what changes are in store for our airport.

Local Bellingham and Whatcom County Economy

The local Bellingham economy is always a lively debate, no matter what side of the political spectrum you are on. The most apparent phenomenon is the rapid increase in the value of real estate. Note that I said real estate, not necessarily homes. When looked at separately, homes as the building themselves are relatively the same to construct as in years past; however, it is the dirt under them that has created the challenge of home ownership in Whatcom county.

Our rapid rise in home values, while relatively stagnant wage growth, has spurred the attention of the federal government, economist, and the local government as well. This Friday, Western Washington University will be hosting a workshop called "Calibrating the Northwest Economy; Analyzing Local Economies Through Data". Held at the Skagit Valley Casino, this workshop will be open to the public, and hopes to be a great forum for discussion surrounding the local economy, housing affordability, and the condition of local wages in relation.

Many local businesses and public officials use economic data to make strategic plans for the future, and this workshop should provide data and information that key decision makes can analyze when making important public and business decisions in the future. The Federal Bureau of Economic Analysis has recently released data about how in the 1970's, Whatcom County wages were even with national averages. In 2000, they were only 75% of the national average, and now after the rapid rise of almost 100% home appreciation in the last 5 years, Whatcom wages are still only 80% of the national average. One can only conclude that people buying homes in Whatcom county are either bringing money here from elsewhere, are wealthy, or are using money from inheritance. Where ever the money is coming from, people are still buying homes.

In conclusion, if homes prices are holding steady, and our local economy continues to grow, maybe wages are not an important part of the equation regarding the condition of our local economy. What other factors could be important? Business and public officials need to find the important facts to help them make important decisions in the coming years. It is my opinion that we need to make sure the quality of life in Whatcom county remains high. After all, if the money is coming from out of the area, we need to make sure people still want to come here, or else our economy will fail to grow. As A Realtor, I can be crucified for encouraging growth; however, I am sure with smart, controlled , and well-planned growth, Whatcom county can continue to be a great place to live and work. I am proud to say I am NOT a native, and I will also never leave here. Whatcom county is the best place in the world to live.

The Green Scape

So, now that the freak snowfall has begun melting away, I was struck, again, by the beauty of the Whatcom County Area.
Over the weekend, I drove around the county a bit, and also trekked up North over the Canadian border. In my journeys, the green cover of the land really hit me. The trees, the grass, etc. It wasn't so much that it was there, but that there was so much of it.
Being from Boston, I know what city life looks like and I know what suburbs are like. If I venture to NH or the fringe of the state, I even get to see what rural looks like.

But Washington has embraced its green impressively. The progressive nature of the region infiltrates so much here. For instance, in Bellingham alone there are something like 10 different trails for hiking and biking and such. Also, there are currently plans to incorporate a Greenway into Northern Bellingham. It seems to be a joint effort of the county, as well as the residents, to hold onto the beauty of the landscapes that surround us.

Even in downtown Bellingham, you're only minutes from nature. There are paths and trails throughout, a salmon hatchery, and a bay to keep your eyes entertained for hours.

And out in the county you get tranquility and awe. At least I did this weekend, when I headed out on the Guide Meridian and soon found myself staring at Snowy Capped Mountain peaks and fields and farms.

As our society grows and gets bigger, its impressive to find an area determined to hold onto nature and our connection to it.

For more information on Bellingham and Whatcom County, go to www.bellinghamselect.com or call Dale @ 201-7717.

If you're thinking of re-locating you'll find an area to request information, a place to search for homes and links to all kinds of other information!

When the Unexpected Hits

If you live in the Whatcom Area, you know what its like to have the unexpected hit. Why? Because you have just been unexpectedly hit with over a foot of snow at your doorstep in November!

Now, I'm new to this area (and old hat at snowy weather) but it would still seem to me that you folks aren't used to this kind of thing out of nowhere. I know I wasn't expecting it. After all, I moved here to get away from snow inundation. Now, what I've learned is that it makes sense to prepared no matter what your situation. And being prepared means being smart about what could reasonably happen. I thought to myself, when packing for my move, West Coast= very little snow=no need for my heavy coats or my snow boots that have seen me through 10 years of New England nasty blizzards and Nor'easters.
So, I found myself on Monday morning, hoofing it to work in 20$ Payless boots with a loose heel, 5 layers of clothes and a cheap pair of gloves bought at the grocery store. I also found myself sad for my boots that I threw away because they had a crack in the sole.

I bet your asking how I'm possibly going to connect this to Dale and Real Estate and or bellinghamselect.com, right?

Well, its actually deceptively simple. When you sell your house, you have two options. Hope for the best or plan for the worst. Just like me in the snowstorm, most people think they've done both when they start to look into things. BUT, just like me in the snowstorm, a lot of people get into the middle of things and THEN learn all the things they missed in their initial assessment of the situation.
Now, the way I see it, there's two types of folks in that situation. 1. The folks who decided to go it alone (read, not bring their mildly cumbersome and at one time costly pair of boots with them) and 2. The folks who decided to bring a realtor into the situation (those who realized they may not know everything about their new location who paid the $$ and got the boots, then brought them along).

Having a realtor is preparing for the worst. A realtor has the knowledge to know, not just the answers to your questions, but the answers to the questions you never thought of asking. When you get stuck in a snow drift, they know how to get you out of it. When the road gets icy, they know how to put down the salt and possibly take a side route through snow. When you fall, they know how to pick you up and fix you up.

So, when you're thinking about this snowy weather, and when you're thinking about selling your home. Consider the two as metaphors like I did. In the end, having a realtor is worth the cost when the unexpected blizzard hits.

Dale Serbousek, Real Estate Blizzard Wizard, is available to help you sell your home. Check out www.Bellinghamselect.com to see some of his 28 Point Marketing plan to help you get your home sold and to help you buy your next place!