100-year floodplain - Is another term for a Special Flood Hazard Area, referring to any area that has at least a one percent annual chance of flooding. The term 100-year flood is misleading. It is not the flood that will occur once every 100 years. Rather, it is the flood that has a one percent chance of being equaled or exceeded each year. Thus, the 100-year flood could occur more than once in a relatively short period of time. Because this term is misleading, FEMA has properly defined it as the one percent annual chance flood. This one percent annual chance flood is now the standard used by most Federal and State agencies and by the National Flood Insurance Program. This term signifies that a structure located with the one percent annual chance floodplain delineated on the flood map has a 26 percent chance of suffering a flood during the term of a typical 30-year mortgage.On FEMA's Flood Insurance Rate Maps (FIRMs), these areas are darkly shaded and labeled with zone designations that begin with "A" or "V."
* All information deemed to be accurate but not guaranteed!
Saturday, June 16, 2007
Port of Bellingham Wins National Boating Access Award
Per Port of Bellingham Press Release on June 07 2007: "The Port of Bellingham has received a national boating access award from the Boat Owners Association of the United States for its efforts to turn Bellingham's industrial waterfront into a boater-friendly downtown. Boat U.S is the nation's most powerful advocate for advancing the interests of boaters.
Boat U.S. recognized the Port, the City, the Waterfront Advisory Group, and all the project partners for planning to help meet local boating needs while preserving the city's working waterfront and for forging a model for other communities to follow..The planned marina and waterfront redevelopment are the subject of a feature article in the May issue of Boat U.S. Magazine, the world's largest publication in recreational boating with a circulation of nearly 670,000 subscribers. To read this article click here.
The Port is planning to convert Georgia-Pacific's industrial wastewater treatment lagoon into a new marina that includes nearly a mile of new public trails around the breakwater and innovative, salmon-friendly features such as a fish passageway through breakwater opposite the marina entrance. The Port is also planning to put in visitor boating docks along the Whatcom Waterway to help boaters better connect with downtown and the New Whatcom redevelopment area".
Boat U.S. recognized the Port, the City, the Waterfront Advisory Group, and all the project partners for planning to help meet local boating needs while preserving the city's working waterfront and for forging a model for other communities to follow..The planned marina and waterfront redevelopment are the subject of a feature article in the May issue of Boat U.S. Magazine, the world's largest publication in recreational boating with a circulation of nearly 670,000 subscribers. To read this article click here.
The Port is planning to convert Georgia-Pacific's industrial wastewater treatment lagoon into a new marina that includes nearly a mile of new public trails around the breakwater and innovative, salmon-friendly features such as a fish passageway through breakwater opposite the marina entrance. The Port is also planning to put in visitor boating docks along the Whatcom Waterway to help boaters better connect with downtown and the New Whatcom redevelopment area".
Too Much Time On Your Hands? Volunteering Info
Too Much Time on Your Hands?.... Volunteer Resources in Whatcom Co WA
Do you have a skills and or talents that you can share? Don't know where to start? There are a bunch of programs out there to match your skills and talents to specific volunteer work!
Volunteer Match: http://www.volunteermatch.org/bymsa/m860/c/opp1.html
Whatcom Volunteer Center: http://www.whatcomvolunteer.org/
City of Bellingham Parks Volunteer: http://www.cob.org/parks/volunteer/
"Small service is true service"-------William Wordsworth
"Helping out is not some special skill. It is not the domain of rare individuals. It is not confined to a single part or time of our lives. We simply heed the call of that natural caring impulse and follow where it leads" -------------------Ram Dass and Paul Gorman
Do you have a skills and or talents that you can share? Don't know where to start? There are a bunch of programs out there to match your skills and talents to specific volunteer work!
Volunteer Match: http://www.volunteermatch.org/bymsa/m860/c/opp1.html
Whatcom Volunteer Center: http://www.whatcomvolunteer.org/
City of Bellingham Parks Volunteer: http://www.cob.org/parks/volunteer/
"Small service is true service"-------William Wordsworth
"Helping out is not some special skill. It is not the domain of rare individuals. It is not confined to a single part or time of our lives. We simply heed the call of that natural caring impulse and follow where it leads" -------------------Ram Dass and Paul Gorman
WA 2007 First Quarter Housing Stats
WA 2007 First Quarter Housing Market PDF (Washington State University) Info.
The Washington Center for Real Estate Research (WCRER) An excellent resource for those in the Washington State Real Estate Industry.
The Center was created in 1989 by the Washington State University Board of Regents to achieve the university's mission of education, research and service in the real estate Industry.
Per their website: "The Center's objectives under this mission include providing research and educational tools to real estate licensees, offering relevant services to practitioners in related businesses, cooperating with state and local government agencies, and keeping consumers informed about important real estate issues. The ultimate goal of the Center is to provide a wide range of useful and understandable information, analysis and knowledge using academic methods in practical context while reporting findings in common language."
For helpful info go to: http://www.cb.wsu.edu/~wcrer/ (then click on Housing Market Snapshot 1st quarter PDF. for WA County Info)
The Washington Center for Real Estate Research (WCRER) An excellent resource for those in the Washington State Real Estate Industry.
The Center was created in 1989 by the Washington State University Board of Regents to achieve the university's mission of education, research and service in the real estate Industry.
Per their website: "The Center's objectives under this mission include providing research and educational tools to real estate licensees, offering relevant services to practitioners in related businesses, cooperating with state and local government agencies, and keeping consumers informed about important real estate issues. The ultimate goal of the Center is to provide a wide range of useful and understandable information, analysis and knowledge using academic methods in practical context while reporting findings in common language."
For helpful info go to: http://www.cb.wsu.edu/~wcrer/ (then click on Housing Market Snapshot 1st quarter PDF. for WA County Info)
Free/Awsome Online Courses with the US SBA
Awesome & Free Online Courses with the U. S. Small Business Administration
The more we navigate around the U.S. Small Business Administration's website the more information we find! Don't waste money on all of those business model books...when there is so much free info out there! There are courses on the following:
Starting a business
Business Planning
Business Management
Financing & Accounting
Marketing and Advertising
Government Contracting
Risk Management and Cyber Security
E- Commerce
International Trade
Fedreal Tax Training
Small Business Retirement
There are some great online courses available online at the following website:
http://www.sba.gov/services/training/onlinecourses/index.html
P.S. You have to fill out a short form to proceed but it is painless and worth it
The more we navigate around the U.S. Small Business Administration's website the more information we find! Don't waste money on all of those business model books...when there is so much free info out there! There are courses on the following:
Starting a business
Business Planning
Business Management
Financing & Accounting
Marketing and Advertising
Government Contracting
Risk Management and Cyber Security
E- Commerce
International Trade
Fedreal Tax Training
Small Business Retirement
There are some great online courses available online at the following website:
http://www.sba.gov/services/training/onlinecourses/index.html
P.S. You have to fill out a short form to proceed but it is painless and worth it
FHA Loans and Manufactured Homes
According to the FHA Website here are the manufactured home guidelines required for getting a FHA loan:
A Title I loan for a manufactured home requires one of the following:
A certificate label attached to the home, or
A label verification letter. Obtain a label verification letter by visiting the website of the HUD approved contractor, the Institute for Building Technology and Safety (IBTS) A Title II loan requires all of the following:
A certificate label or label verification letter.
The placement of the home on a permanent foundation that complies with the Permanent Foundations Guide for Manufactured Housing (PFGMH).
A certification from a licensed professional engineer verifying compliance with the PFGMH.
The most common permanent foundation errors delaying the approval of an FHA-insured loan for a manufactured home are:
The foundation footings that are not set below the frost line
Dry-stacked piers are used instead of required piers with mortared head and bed joints
The use of ground anchors - because FHA doesn't accept these as a permanent attachment
Any permanent foundation lacking an engineer's certification, even if it complies with all other elements
Vinyl skirting used as an enclosure that doesn't meet ALL of the following FHA requirements:
Properly enclosed crawl space with a continuous permanent foundation-type construction (similar to a conventionally built foundation, i.e., concrete, masonry or treated wood)
Designed to resist all forces without transmitting the building superstructure to movements or effects caused by frost heave, soil settlement, or the shrinking or swelling of expansive soils.
Adequately secured to the perimeter of the unit to exclude entry of vermin and water
Allowance for proper ventilation of the crawl space
The most common errors that may cause a delay are:
The foundation footings are not set below the frost line
The use of dry-stacked piers are used instead of the required piers with mortared head and bed joints
Ground anchors are used, because FHA does not accept these as a permanent attachment
Any permanent foundation lacking an engineer's certification, even if it complies with all other elements
Vinyl skirting used as an enclosure, that doesn't meet ALL of the following FHA requirements:
Properly enclosed crawl space with a continuous permanent foundation-type construction (similar to a conventionally built foundation, i.e., concrete, masonry or treated wood)
Designed to resist all forces without transmitting the building superstructure to movements or effects caused by frost heave, soil settlement, or the shrinking or swelling of expansive soils
Adequately secured to the perimeter of the unit to exclude entry of vermin and water
Allowance for proper ventilation of the crawl space
Disclaimer: Bennett Appraisals does not promote any program or products we just appraise SFR properties in Whatcom, Skagit and Snohomish Counties WA. All information deemed to be accurate but not guaranteed.
A Title I loan for a manufactured home requires one of the following:
A certificate label attached to the home, or
A label verification letter. Obtain a label verification letter by visiting the website of the HUD approved contractor, the Institute for Building Technology and Safety (IBTS) A Title II loan requires all of the following:
A certificate label or label verification letter.
The placement of the home on a permanent foundation that complies with the Permanent Foundations Guide for Manufactured Housing (PFGMH).
A certification from a licensed professional engineer verifying compliance with the PFGMH.
The most common permanent foundation errors delaying the approval of an FHA-insured loan for a manufactured home are:
The foundation footings that are not set below the frost line
Dry-stacked piers are used instead of required piers with mortared head and bed joints
The use of ground anchors - because FHA doesn't accept these as a permanent attachment
Any permanent foundation lacking an engineer's certification, even if it complies with all other elements
Vinyl skirting used as an enclosure that doesn't meet ALL of the following FHA requirements:
Properly enclosed crawl space with a continuous permanent foundation-type construction (similar to a conventionally built foundation, i.e., concrete, masonry or treated wood)
Designed to resist all forces without transmitting the building superstructure to movements or effects caused by frost heave, soil settlement, or the shrinking or swelling of expansive soils.
Adequately secured to the perimeter of the unit to exclude entry of vermin and water
Allowance for proper ventilation of the crawl space
The most common errors that may cause a delay are:
The foundation footings are not set below the frost line
The use of dry-stacked piers are used instead of the required piers with mortared head and bed joints
Ground anchors are used, because FHA does not accept these as a permanent attachment
Any permanent foundation lacking an engineer's certification, even if it complies with all other elements
Vinyl skirting used as an enclosure, that doesn't meet ALL of the following FHA requirements:
Properly enclosed crawl space with a continuous permanent foundation-type construction (similar to a conventionally built foundation, i.e., concrete, masonry or treated wood)
Designed to resist all forces without transmitting the building superstructure to movements or effects caused by frost heave, soil settlement, or the shrinking or swelling of expansive soils
Adequately secured to the perimeter of the unit to exclude entry of vermin and water
Allowance for proper ventilation of the crawl space
Disclaimer: Bennett Appraisals does not promote any program or products we just appraise SFR properties in Whatcom, Skagit and Snohomish Counties WA. All information deemed to be accurate but not guaranteed.
HUD Concept Home Online Video- Check it out.
Check out the online Video Demo of HUD and PATH's Concept Home
http://www.pathnet.org/concepthomedemo/
A Concept Home is an energy efficent, sustainable and affordable alternative:
Reduce building and energy costs by cutting construction building timeand improving the overall energy efficiency of all aspects of the home.
Increase the overall life expectancy of the home by increasing durability and reducing maintenance needs.
Create greater flexibility in the home design to allow adapt it to the changing needs of the occupants.
Reduce the overall impact of the home on the environment, including reducing job-site construction waste
http://www.pathnet.org/concepthomedemo/
A Concept Home is an energy efficent, sustainable and affordable alternative:
Reduce building and energy costs by cutting construction building timeand improving the overall energy efficiency of all aspects of the home.
Increase the overall life expectancy of the home by increasing durability and reducing maintenance needs.
Create greater flexibility in the home design to allow adapt it to the changing needs of the occupants.
Reduce the overall impact of the home on the environment, including reducing job-site construction waste
HUD Unveils America's First Affordable, efficient and Sustainable "Concept Home"
HUD is celebrating their first "concept" home, which is affordable, sustainable and energy efficient.
Per HUD press release: "With the PATH Concept Home, HUD has created a blueprint for the future of the American Dream by using innovative housing technologies that support our goals of sustainability, efficiency and flexibility in an affordable home," said HUD Assistant Secretary Darlene F. Williams. "June is National Homeownership Month and we are excited to showcase a home that is affordable to purchase, maintain and renovate as families and their needs change over time."
for interesting article go to:
http://www.hud.gov/news/release.cfm?content=pr07-082.cfm
For Partnership for Advanced Housing Technology go to:
http://www.pathnet.org/
Per HUD press release: "With the PATH Concept Home, HUD has created a blueprint for the future of the American Dream by using innovative housing technologies that support our goals of sustainability, efficiency and flexibility in an affordable home," said HUD Assistant Secretary Darlene F. Williams. "June is National Homeownership Month and we are excited to showcase a home that is affordable to purchase, maintain and renovate as families and their needs change over time."
for interesting article go to:
http://www.hud.gov/news/release.cfm?content=pr07-082.cfm
For Partnership for Advanced Housing Technology go to:
http://www.pathnet.org/
The Pros and Cons Of Non-Conforming Properties
Non-conformity can work to the advantage or disadvantage of the owner of the non-conforming property.
A house that has not been well maintained but is in a neighborhood of well kept homes will benefit from the overall good impression created by the neighborhood and its desirability. This is an example of the principle of progression.
A House that has been meticulously maintained in a neighborhood of homes in a state of disrepair will suffer from the generally unfavorable impression created. This is an example of the principle of regression.
A house that has not been well maintained but is in a neighborhood of well kept homes will benefit from the overall good impression created by the neighborhood and its desirability. This is an example of the principle of progression.
A House that has been meticulously maintained in a neighborhood of homes in a state of disrepair will suffer from the generally unfavorable impression created. This is an example of the principle of regression.
What Business Plan? WA SBA Has Some Excellent Tips!
The Seattle District of the Small Business Administration puts out a PDF about doing business in Washington State. There is some excellent info on doing business in Washington, start up business checklists and some excellent advice on creating a business plan on pages 10 and 11.
Click on link below:
http://www.sba.gov/idc/groups/public/documents/wa_seattle/2007seargmar.pdf
Click on link below:
http://www.sba.gov/idc/groups/public/documents/wa_seattle/2007seargmar.pdf
Taking Tips From The SBA, Business Management and Planning
Wow there is a ton of information available online....However finding pertinent and accurate infomation can be all so encompassing! We recently found this online info from the Small Business Administration to be helpful.
Small Business Administration, Business Planning and Management Tools:
http://www.sba.gov/tools/resourcelibrary/publications/serv_pub_mplan.html
Small Business Administration, Business Planning and Management Tools:
http://www.sba.gov/tools/resourcelibrary/publications/serv_pub_mplan.html
Land Division: What Is A Short Plat?
Sometimes dividing a property in Whatcom County WA can be tricky.
A Short Plat is a division of land into 4 or fewer lots and by state law anyone wanting to divide a property for purpose of tranfer, sale or lease must obtain approval from Whatcom county or the City of Bellingham (whoever has jurisdiction over the land).
Certain criteria must be met before a short plat can be approved
1. There needs to be an adequate source of water for each lot.
2. There must be legal/ safe vehicular access available to each lot.
3. Building sites must be outside of shoreline, streams and wetland buffers.
4. Zoning: Lot sizes must be legally permissable
5. Lot of Record Status.
6. Are there critical areas, geological hazards, flood zones?
7. A survey depicting the new lots, their accesses, etc. etc.
8. Time, money and patience!
* Disclaimer all information deemed to be accurate, but (county guidelines change) not guaranteed!!
A Short Plat is a division of land into 4 or fewer lots and by state law anyone wanting to divide a property for purpose of tranfer, sale or lease must obtain approval from Whatcom county or the City of Bellingham (whoever has jurisdiction over the land).
Certain criteria must be met before a short plat can be approved
1. There needs to be an adequate source of water for each lot.
2. There must be legal/ safe vehicular access available to each lot.
3. Building sites must be outside of shoreline, streams and wetland buffers.
4. Zoning: Lot sizes must be legally permissable
5. Lot of Record Status.
6. Are there critical areas, geological hazards, flood zones?
7. A survey depicting the new lots, their accesses, etc. etc.
8. Time, money and patience!
* Disclaimer all information deemed to be accurate, but (county guidelines change) not guaranteed!!
Understanding Reverse Mortgages
There are some excellent resources out there to become familiar with the reverse mortgage process.
The Federal Trade Commission puts out this publication:
http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm
AARP puts out this online publication:
http://www.aarp.org/money/revmort/
HUD's publication online:
http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm
For Reverse Mortgage Appraisals in Whatcom, Skagit and Snohomish Counties call:
Bennett Appraisal (FHA Qualified) 360-746-0224 http://www.bennett4appraisals.com/
*Disclosure* Bennett Appraisals does not endorse any product or program we just appraise residential properties in Whatcom, Skagit and Snohomish Counties.
The Federal Trade Commission puts out this publication:
http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm
AARP puts out this online publication:
http://www.aarp.org/money/revmort/
HUD's publication online:
http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm
For Reverse Mortgage Appraisals in Whatcom, Skagit and Snohomish Counties call:
Bennett Appraisal (FHA Qualified) 360-746-0224 http://www.bennett4appraisals.com/
*Disclosure* Bennett Appraisals does not endorse any product or program we just appraise residential properties in Whatcom, Skagit and Snohomish Counties.
Understanding Reverse Mortgages
There are some excellent resources out there to become familiar with the reverse mortgage process.
The Federal Trade Commission puts out this publication:
http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm
AARP puts out this online publication:
http://www.aarp.org/money/revmort/
HUD's publication online:
http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm
For Reverse Mortgage Appraisals in Whatcom, Skagit and Snohomish Counties call:
Bennett Appraisal (FHA Qualified) 360-746-0224 http://www.bennett4appraisals.com/
*Disclosure* Bennett Appraisals does not endorse any product or program we just appraise residential properties in Whatcom, Skagit and Snohomish Counties.
The Federal Trade Commission puts out this publication:
http://www.ftc.gov/bcp/conline/pubs/homes/rms.shtm
AARP puts out this online publication:
http://www.aarp.org/money/revmort/
HUD's publication online:
http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm
For Reverse Mortgage Appraisals in Whatcom, Skagit and Snohomish Counties call:
Bennett Appraisal (FHA Qualified) 360-746-0224 http://www.bennett4appraisals.com/
*Disclosure* Bennett Appraisals does not endorse any product or program we just appraise residential properties in Whatcom, Skagit and Snohomish Counties.
Whatcom County Geographic Information Systems (GIS)
Wondering what the zoning, etc. etc. is on a specific property? Whatcom County has excellent GIS capabilitites online
Geographic Information Systems (GIS) is a system of hardware, software, and procedures set up to support the capture, management, manipulation, analysis, modeling and display of spatially-referenced data for solving complex planning and management problems that involve data which is spatially referenced to the earth.
http://www.co.whatcom.wa.us/pds/planning/gis/index.jsp
Skagit County has the same capabilities w/ IMap:
http://www.skagitcounty.net/GIS/Applications/iMap/asp/iMap.asp
Geographic Information Systems (GIS) is a system of hardware, software, and procedures set up to support the capture, management, manipulation, analysis, modeling and display of spatially-referenced data for solving complex planning and management problems that involve data which is spatially referenced to the earth.
http://www.co.whatcom.wa.us/pds/planning/gis/index.jsp
Skagit County has the same capabilities w/ IMap:
http://www.skagitcounty.net/GIS/Applications/iMap/asp/iMap.asp
Computer Says What? The Limitations of Automated Valuation Models
Lenders and brokers using Automated Valuation Models (AVMs) and homeowners using "free online home values" to determine the value of a property need to know some of the major limitations of those models AVMs have three principal limitations:
First, they are dependent upon the accuracy, comprehensiveness, and timeliness of the data they use. Data issues can include incomplete public records, non arms-length transaction records, insufficient sales of properties with comparable features within a specified geographic area, and a lag between the time when the market data are current and the AVM uses the data to generate an estimate of value.
Second, AVMs cannot be used to determine the physical condition and relative marketability of a property.
Third, AVMs can never fully incorporate the breadth of knowledge and judgment of a skilled appraiser
For more information visit our website:
http://www.bennett4appraisals.com/AboutAVM
First, they are dependent upon the accuracy, comprehensiveness, and timeliness of the data they use. Data issues can include incomplete public records, non arms-length transaction records, insufficient sales of properties with comparable features within a specified geographic area, and a lag between the time when the market data are current and the AVM uses the data to generate an estimate of value.
Second, AVMs cannot be used to determine the physical condition and relative marketability of a property.
Third, AVMs can never fully incorporate the breadth of knowledge and judgment of a skilled appraiser
For more information visit our website:
http://www.bennett4appraisals.com/AboutAVM
Real Property's Life Cycle, Growth, Equilibrium, Decline and Revitalization
In terms of the effects of change on real property, ordinary physical deterioration and market demand have indicated 4 stages through which an improved property will pass:
Growth- When improvements are made and property demand expands
Equlibrium or Stability- When the property undergoes little change
Decline- When the property requires an increasing amount of upkeep to retain its original utility while demands slackens
Revitalization or Rehabilitation- Which may occur if the demand increases, serving to stimulate property renovation.
The first three stages of a property's life cycle are also termed development, maturity and old age. The principle of growth, equilibrium, decline and revitalization can also apply to entire neighborhoods.
Bellingham's neighborhoods are constantly changing it is very interesting to see some of the changes taking place because of new external influences etc.
Growth- When improvements are made and property demand expands
Equlibrium or Stability- When the property undergoes little change
Decline- When the property requires an increasing amount of upkeep to retain its original utility while demands slackens
Revitalization or Rehabilitation- Which may occur if the demand increases, serving to stimulate property renovation.
The first three stages of a property's life cycle are also termed development, maturity and old age. The principle of growth, equilibrium, decline and revitalization can also apply to entire neighborhoods.
Bellingham's neighborhoods are constantly changing it is very interesting to see some of the changes taking place because of new external influences etc.
Ferndale's (WA) Centennial Riverwalk
According to the latest E- Newsletter put out by the City of Ferndale (Spring 2007):
The "Riverview Plaza and Trail Plan", has been re-titled the "Centennial Riverwalk" and has moved from the planning stage to the building stage with the securing of funding to carry out the project. The project is anticipated to provide a long needed spark that will hopefully start a productive period of downtown re-development and revitalization.
See the plan:
Click on plan at the top of the page:http://www.ci.ferndale.wa.us/planning/planning.php
This link may take awhile to load: http://www.ci.ferndale.wa.us/planning/Riverview%20Plaza%20Plan.pdf
The "Riverview Plaza and Trail Plan", has been re-titled the "Centennial Riverwalk" and has moved from the planning stage to the building stage with the securing of funding to carry out the project. The project is anticipated to provide a long needed spark that will hopefully start a productive period of downtown re-development and revitalization.
See the plan:
Click on plan at the top of the page:http://www.ci.ferndale.wa.us/planning/planning.php
This link may take awhile to load: http://www.ci.ferndale.wa.us/planning/Riverview%20Plaza%20Plan.pdf
Excellent Resource Online Interactive Home Loan Education For The Public
The Mortgage Bankers Association (MBA) announced the launch of its updated Home Loan Learning Center (http://www.homeloanlearningcenter.com/), an interactive online resource that provides consumers with critical information on mortgages and the home-buying process.
MBA created the Home Loan Learning Center to inform consumers about options that best fit their life circumstances when buying a home. The Web site provides essential loan, credit and other valuable information using a simple and very user-friendly approach.
Call Bennett Appraisals for all of your appraisal needs 360-746-0224
www.bennett4appraisals.com
Disclaimer: Bennett Appraisals does not promote any other companies or products we just appraise residential properties in Whatcom, Skagit and Snohomish Counties WA.
MBA created the Home Loan Learning Center to inform consumers about options that best fit their life circumstances when buying a home. The Web site provides essential loan, credit and other valuable information using a simple and very user-friendly approach.
Call Bennett Appraisals for all of your appraisal needs 360-746-0224
www.bennett4appraisals.com
Disclaimer: Bennett Appraisals does not promote any other companies or products we just appraise residential properties in Whatcom, Skagit and Snohomish Counties WA.
Mount Vernon's (WA) 20 Year Plan For Re-Development
Mount Vernon's (WA) 20 Year Plan for Re-development and Flood Protection
Last year the city of Mount Vernon started a comprehensive redevelopment plan for its historic downtown area. The goal of that planning effort is to guide the business investment of public and private resources in the downtown area over a period of the next 20 years.
A key issue of this plan is to provide the City's downtown area with 100-year flood protection.
The threat of flooding poses a major barrier to investment in the downtown area and limits the City's efforts to create a vibrant, attractive, and safe waterfront district. In addition to flood protection, the project's goals include enhancing public access to the shoreline and river, promoting a mixed use redevelopment that will generate new jobs, providing an area for both housing and business development to occur in a manner that helps preserve the character of the downtown area.
For more infomration on the city's plan go to:
http://www.ci.mount-vernon.wa.us/page.asp_Q_directoryid_E_652_A_navigationid=652
Last year the city of Mount Vernon started a comprehensive redevelopment plan for its historic downtown area. The goal of that planning effort is to guide the business investment of public and private resources in the downtown area over a period of the next 20 years.
A key issue of this plan is to provide the City's downtown area with 100-year flood protection.
The threat of flooding poses a major barrier to investment in the downtown area and limits the City's efforts to create a vibrant, attractive, and safe waterfront district. In addition to flood protection, the project's goals include enhancing public access to the shoreline and river, promoting a mixed use redevelopment that will generate new jobs, providing an area for both housing and business development to occur in a manner that helps preserve the character of the downtown area.
For more infomration on the city's plan go to:
http://www.ci.mount-vernon.wa.us/page.asp_Q_directoryid_E_652_A_navigationid=652
The Homeowner Summit in Washington DC
In Washington DC - The U.S. Department of Housing and Urban Development hosted a Homeownership Summit with leading stakeholders in the housing community to discuss the impact of risky, high-priced loans, and actions against predatory lending and how modernizing the Federal Housing Administration During the summit, seven areas of agreement were determined for protecting and preserving homeownership:
Homeownership is still the best investment for the long-term.
Every responsible step must be taken to enable Americans to become homeowners.
Lending should be legal, fiscally responsible, and ethical.
Housing counseling is critical and borrowers must read the fine print before buying a home.
There is no place for predatory lending in the housing industry.
Modernization of the Federal Housing Administration is long overdue
A taxpayer-funded bailout will not resolve housing concerns
For the fact sheet about today's summit go to :
http://www.hud.gov/content/releases/pr07-063.pdf
Homeownership is still the best investment for the long-term.
Every responsible step must be taken to enable Americans to become homeowners.
Lending should be legal, fiscally responsible, and ethical.
Housing counseling is critical and borrowers must read the fine print before buying a home.
There is no place for predatory lending in the housing industry.
Modernization of the Federal Housing Administration is long overdue
A taxpayer-funded bailout will not resolve housing concerns
For the fact sheet about today's summit go to :
http://www.hud.gov/content/releases/pr07-063.pdf
Another Coastal City's Plan For Renovation; Big Plans for Everett's Waterfront
Wow, Bellingham is not the only city working to improve its waterfront; there are big changes in store for Everett's waterfront: From a new waterfront neighborhood to a new transportation hub slated for Mukilteo. According to the Port of Everett; it plans on spending approximately $200 million to redevelop the Everett waterfront.
Click on the following links for more infomation on the following projects:
Port Gardner Wharf
New Port Administration Building
Collins Building Redevelopment
12th Street Yacht Basin
10th Street Marine Park Improvements
Marina Recapitalization
Rail / Barge Transfer Facility
Marine Terminals Master Plan
Lehigh Cement Project
Mukilteo Tank Farm
Click on the following links for more infomation on the following projects:
Port Gardner Wharf
New Port Administration Building
Collins Building Redevelopment
12th Street Yacht Basin
10th Street Marine Park Improvements
Marina Recapitalization
Rail / Barge Transfer Facility
Marine Terminals Master Plan
Lehigh Cement Project
Mukilteo Tank Farm
Whatcom County Property Tax Appeals
Whatcom County Property Tax Appeals.... July 1st Deadline
Most localities determine your property tax burden based on an ad valorem assessment of the property's value. Sometimes, as a property owner, you get an unwanted surprise in the mail telling you your taxes are going up, and sometimes it may seem as though your assessment is too high.
Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local taxing authority you still feel as though your property was overvalued, a professional, independent, third-party appraiser is often your best bet in proving your case. That's where we come in.
There are as many different procedures for appealing assessments as there are property taxing districts, so it's important to enlist the help of a professional appraisal firm that's experienced and trained in the ins and outs of your particular jurisdiction.
Please note: It makes sense to do your own research before determining whether to go forward with a property assessment appeal, especially before you make the decision to hire a professional appraiser. However, according to the Uniform Standards of Professional Appraisal Practice (USPAP), we are not allowed to take "shortcuts" -- i.e., your research -- and use it on its face as part of our independent evaluation. When you hire us for an assessment appeal, you're commissioning an independent, third-party professional appraisal report. As such we do our own evaluation, beginning to end. If you're right that your property has been overvalued, an independent report such as ours will be even more persuasive than any other evidence you can marshal on your own. But it depends on our ability to do the work independently.
Sometimes, you will have a hearing on your assessment appeal and will need for the appraiser you've hired to testify on your behalf. Be assured that at Bennett Appraisals, we are able to professionally and persuasively testify at appeal hearings. Browse our website to learn more about our qualifications, expertise and services offered.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties
For Infomation on Whtacom County Property Tax Appeals: http://www.co.whatcom.wa.us/assessor/taxguides/appeals/process.jsp
Most localities determine your property tax burden based on an ad valorem assessment of the property's value. Sometimes, as a property owner, you get an unwanted surprise in the mail telling you your taxes are going up, and sometimes it may seem as though your assessment is too high.
Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local taxing authority you still feel as though your property was overvalued, a professional, independent, third-party appraiser is often your best bet in proving your case. That's where we come in.
There are as many different procedures for appealing assessments as there are property taxing districts, so it's important to enlist the help of a professional appraisal firm that's experienced and trained in the ins and outs of your particular jurisdiction.
Please note: It makes sense to do your own research before determining whether to go forward with a property assessment appeal, especially before you make the decision to hire a professional appraiser. However, according to the Uniform Standards of Professional Appraisal Practice (USPAP), we are not allowed to take "shortcuts" -- i.e., your research -- and use it on its face as part of our independent evaluation. When you hire us for an assessment appeal, you're commissioning an independent, third-party professional appraisal report. As such we do our own evaluation, beginning to end. If you're right that your property has been overvalued, an independent report such as ours will be even more persuasive than any other evidence you can marshal on your own. But it depends on our ability to do the work independently.
Sometimes, you will have a hearing on your assessment appeal and will need for the appraiser you've hired to testify on your behalf. Be assured that at Bennett Appraisals, we are able to professionally and persuasively testify at appeal hearings. Browse our website to learn more about our qualifications, expertise and services offered.
Bennett Appraisals serves the following areas: Anacortes, Alger, Bellingham, Birch Bay, Blaine, Burlington, Cain Lakes, Concrete, Ferndale, Fairhaven, Geneva,Glacier, Lynden, Mount Baker, Mount Vernon, Sedro Wooley, Sehome, Silver Beach, Sudden Valley, Sumas, South Hill and all of Whatcom & Skagit Counties
For Infomation on Whtacom County Property Tax Appeals: http://www.co.whatcom.wa.us/assessor/taxguides/appeals/process.jsp
What are (EEMs) Energy Efficient Mortgages?
In a time of escalating fuel and energy costs and an increase in energy efficient building practices, materials and appliances-- we wonder if this type of loan program may gain popularity? Here is some infomation we gathered on this interesting and rarely mentioned program:
What is an EEM?
When you are buying, selling, refinancing, or remodeling your home, you can increase your comfort and actually save money by using the Energy Efficient Mortgage (EEM). It is easy to use, federally recognized, and can be applied to most home mortgages. EEMs provide the borrower with special benefits when purchasing a home that is energy efficient, or can be made efficient through the installation of energy-saving improvements. EEMs make it easier for borrowers to qualify for loans to purchase/ refinance homes with specific energy-efficiency improvements.
Conventional EEMs
Conventional EEMs can be offered by lenders who sell their loans to Fannie Mae and Freddie Mac. Conventional EEMs increase the purchasing power of buying an energy efficient home by allowing the lender to increase the borrower's income by a dollar amount equal to the estimated energy savings. The Fannie Mae loan also adjusts the value of the home to reflect the value of the energy efficiency measures.
FHA EEMs
FHA EEMs allow lenders to add 100 percent of the additional cost of cost-effective energy efficiency improvements to an already approved mortgage loan (as long as the additional costs do not exceed $4000 or 5 percent of the value of the home, up to a maximum of $8000, whichever is greater). No additional down payment is required, and the FHA loan limits won't interfere with the process of obtaining the EEM.
VA EEMs
The Veteran's Administration (VA) EEM is available to qualified military personnel, reservists and veterans for energy improvements when purchasing an existing primary home. The VA EEM caps energy improvements at $3,000-$6,000.
HERS, or Home Energy Rating Systems
A HERS report is similar to a miles-per-gallon rating on a car. HERS are program s which provide evaluations of individual primary homes energy-efficiency. A HERS report is prepared by a trained Energy Rater. Factors such as insulation, appliance efficiencies, window types, local climate, and utility rates are used to rate the home and calculate energy costs
To learn more about EEMs contact:
US Dept of Energy: http://www.energystar.gov/index.cfm?c=bldrs_lenders_raters.energy_efficient_mortgage
Fannie Mae: http://www.fanniemae.com/index.jhtml
Freddie Mac: http://www.freddiemac.com/
HUD: http://www.hud.gov/offices/hsg/sfh/eem/eemhome.cfm
Additional information about writing energy-efficient mortgages can be found on the Web sites:
U.S. Department of Housing and Urban Development (HUD) and the Residential Energy Services Network (Resnet)
For all of your FHA insured and Conventional Mortgage Appraisals contact:
Bennett Appraisals http://www.bennett4appraisals.com/
Disclaimer **All information deemed to be accurate but not guaranteed.
Disclaimer** Bennett Appraisals does not endorse any loan programs, we just appraise residential properties in Whatcom, Skagit and Snohomish Counties WA.
What is an EEM?
When you are buying, selling, refinancing, or remodeling your home, you can increase your comfort and actually save money by using the Energy Efficient Mortgage (EEM). It is easy to use, federally recognized, and can be applied to most home mortgages. EEMs provide the borrower with special benefits when purchasing a home that is energy efficient, or can be made efficient through the installation of energy-saving improvements. EEMs make it easier for borrowers to qualify for loans to purchase/ refinance homes with specific energy-efficiency improvements.
Conventional EEMs
Conventional EEMs can be offered by lenders who sell their loans to Fannie Mae and Freddie Mac. Conventional EEMs increase the purchasing power of buying an energy efficient home by allowing the lender to increase the borrower's income by a dollar amount equal to the estimated energy savings. The Fannie Mae loan also adjusts the value of the home to reflect the value of the energy efficiency measures.
FHA EEMs
FHA EEMs allow lenders to add 100 percent of the additional cost of cost-effective energy efficiency improvements to an already approved mortgage loan (as long as the additional costs do not exceed $4000 or 5 percent of the value of the home, up to a maximum of $8000, whichever is greater). No additional down payment is required, and the FHA loan limits won't interfere with the process of obtaining the EEM.
VA EEMs
The Veteran's Administration (VA) EEM is available to qualified military personnel, reservists and veterans for energy improvements when purchasing an existing primary home. The VA EEM caps energy improvements at $3,000-$6,000.
HERS, or Home Energy Rating Systems
A HERS report is similar to a miles-per-gallon rating on a car. HERS are program s which provide evaluations of individual primary homes energy-efficiency. A HERS report is prepared by a trained Energy Rater. Factors such as insulation, appliance efficiencies, window types, local climate, and utility rates are used to rate the home and calculate energy costs
To learn more about EEMs contact:
US Dept of Energy: http://www.energystar.gov/index.cfm?c=bldrs_lenders_raters.energy_efficient_mortgage
Fannie Mae: http://www.fanniemae.com/index.jhtml
Freddie Mac: http://www.freddiemac.com/
HUD: http://www.hud.gov/offices/hsg/sfh/eem/eemhome.cfm
Additional information about writing energy-efficient mortgages can be found on the Web sites:
U.S. Department of Housing and Urban Development (HUD) and the Residential Energy Services Network (Resnet)
For all of your FHA insured and Conventional Mortgage Appraisals contact:
Bennett Appraisals http://www.bennett4appraisals.com/
Disclaimer **All information deemed to be accurate but not guaranteed.
Disclaimer** Bennett Appraisals does not endorse any loan programs, we just appraise residential properties in Whatcom, Skagit and Snohomish Counties WA.
Keeping Up With The Changes: Bellingham WA Neighborhoods
We are so fortunate to live in such a wonderful and beautiful place. Bellingham is constantly changing and as a Real Estate Professional it is imperative to keep up on all of the changes.
One of the best places to start is the City Of Bellingham's website. There is a ton of information about neighborhoods, zoning, zoning changes etc. etc
Here is a link for neighborhood services information:
http://www.cob.org/pcd/planning/neighborhoods/neighborhoods.htm
For neighborhood Planning, Zoning and Map Info information go to:
http://www.cob.org/pcd/planning/Neighborhood-plan-zone.htm
http://www.cob.org/gis/maps/neighborhoods.htm
For Planning and Community Development Info go to:
http://www.cob.org/pcd/index.htm
For detailed info go to the Planning Divison:
http://www.cob.org/pcd/planning/index.htm
For excellent information on Whatcom County go to:
http://www.co.whatcom.wa.us/index.jsp
Here are just a few of the many links available, there is a wealth on information available online!!
For all of your Appraisal Services go to www.bennett4appraisals.com
One of the best places to start is the City Of Bellingham's website. There is a ton of information about neighborhoods, zoning, zoning changes etc. etc
Here is a link for neighborhood services information:
http://www.cob.org/pcd/planning/neighborhoods/neighborhoods.htm
For neighborhood Planning, Zoning and Map Info information go to:
http://www.cob.org/pcd/planning/Neighborhood-plan-zone.htm
http://www.cob.org/gis/maps/neighborhoods.htm
For Planning and Community Development Info go to:
http://www.cob.org/pcd/index.htm
For detailed info go to the Planning Divison:
http://www.cob.org/pcd/planning/index.htm
For excellent information on Whatcom County go to:
http://www.co.whatcom.wa.us/index.jsp
Here are just a few of the many links available, there is a wealth on information available online!!
For all of your Appraisal Services go to www.bennett4appraisals.com
It Isn't Easy Being Green? It is Getting Easier For Builders
It Isn't Easy Being Green?..... It Is Becoming Easier For Builders To Go Green.
Based on a survey of National Association of Home Builders conducted last year by between 40% and 50% of the homes built in 2010 are expected to be green, containing at least three of five green building elements. That represents a major upsurge of activity in the green market.
Last year, according to McGraw-Hill estimates, an estimated 2% - or $7.4 billion - of the residential construction market was green.
There is an enormous market for sustainable, environmentally friendly and recycled building products, along with the greater availability of educational opportunities for builders, has accelerated green building's acceptance rate. By the end of 2007, more than half of National Association of Home Builder's members, who build more than 80 percent of the homes in this country, will be incorporating green practices into the development, design and construction of new homes.
For more information on the NAMB Green Home Building Guidlines go to:
http://www.nahb.org/publication_details.aspx?publicationID=1994§ionID=155
For Information on the Whatcom County Green Home Checklist go to:
http://biawc.com/builtgreen/Whatcom%20BuiltGreen.pdf
Based on a survey of National Association of Home Builders conducted last year by between 40% and 50% of the homes built in 2010 are expected to be green, containing at least three of five green building elements. That represents a major upsurge of activity in the green market.
Last year, according to McGraw-Hill estimates, an estimated 2% - or $7.4 billion - of the residential construction market was green.
There is an enormous market for sustainable, environmentally friendly and recycled building products, along with the greater availability of educational opportunities for builders, has accelerated green building's acceptance rate. By the end of 2007, more than half of National Association of Home Builder's members, who build more than 80 percent of the homes in this country, will be incorporating green practices into the development, design and construction of new homes.
For more information on the NAMB Green Home Building Guidlines go to:
http://www.nahb.org/publication_details.aspx?publicationID=1994§ionID=155
For Information on the Whatcom County Green Home Checklist go to:
http://biawc.com/builtgreen/Whatcom%20BuiltGreen.pdf
What To Expect During an Appraisal Inspection
For homeowners, a real estate appraisal is the linchpin to buying or selling their home. It allows the property transactions to occur among the buyer, seller, real estate agent and mortgage lender.
Before an Appraiser arrives, there are a few things you should know. By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions. Also by law, you are entitled to receive a copy of the completed appraisal report from your lender.
To facilitate the appraisal process, it's beneficial to have these documents ready for the appraiser:
Written property agreements, such as a maintenance agreement for a shared driveway
Title policy that describes encroachments or easements
Most recent real estate tax bill and or legal description of the property
Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells
Brag sheet that lists major home improvements and upgrades, the date of their installation and their cost (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available)
A copy of the current listing agreement and broker's data sheet and Purchase Agreement if a sale is "pending".
Information on "Homeowners Associations" or condominium covenants and fees.
A list of "Proposed" improvements if the property is to be appraised "As Complete".
Once your appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but you should be available to answer questions about your property and be willing to point out any home improvements.
Here are some other suggestions:
Accessibility: Make sure that all areas of the home are accessible, especially to the attic and crawl space
Housekeeping: Appraisers see hundreds of homes a year and will look past most clutter, but it is neccesary to see the floors, sinks, crawlspaces etc!!
Maintenance: Repair minor things like leaky faucets, siding, handrails, missing door handles and trim
FHA/VA Inspection Items: If your borrower is applying for an FHA/VA loan, be sure to ask your appraiser if there are specific things that should be done before they come. Some items they may recommend might be: Install smoke detectors on all levels (especially near bedrooms); install handrails on all stairways; remove peeling paint and repaint the effected area; provide inspection access to the attic and crawl spaces.
For an appraisal demo for you or your clients:
http://www.bennett4appraisals.com/InspectionVideo
Before an Appraiser arrives, there are a few things you should know. By law, an appraiser must be state licensed to perform appraisals prepared for federally related transactions. Also by law, you are entitled to receive a copy of the completed appraisal report from your lender.
To facilitate the appraisal process, it's beneficial to have these documents ready for the appraiser:
Written property agreements, such as a maintenance agreement for a shared driveway
Title policy that describes encroachments or easements
Most recent real estate tax bill and or legal description of the property
Home inspection reports, or other recent reports for termites, EIFS (synthetic stucco) wall systems, septic systems and wells
Brag sheet that lists major home improvements and upgrades, the date of their installation and their cost (for example, the addition of central air conditioning or roof repairs) and permit confirmation (if available)
A copy of the current listing agreement and broker's data sheet and Purchase Agreement if a sale is "pending".
Information on "Homeowners Associations" or condominium covenants and fees.
A list of "Proposed" improvements if the property is to be appraised "As Complete".
Once your appraiser has arrived, you do not need to accompany him or her along on the entire site inspection, but you should be available to answer questions about your property and be willing to point out any home improvements.
Here are some other suggestions:
Accessibility: Make sure that all areas of the home are accessible, especially to the attic and crawl space
Housekeeping: Appraisers see hundreds of homes a year and will look past most clutter, but it is neccesary to see the floors, sinks, crawlspaces etc!!
Maintenance: Repair minor things like leaky faucets, siding, handrails, missing door handles and trim
FHA/VA Inspection Items: If your borrower is applying for an FHA/VA loan, be sure to ask your appraiser if there are specific things that should be done before they come. Some items they may recommend might be: Install smoke detectors on all levels (especially near bedrooms); install handrails on all stairways; remove peeling paint and repaint the effected area; provide inspection access to the attic and crawl spaces.
For an appraisal demo for you or your clients:
http://www.bennett4appraisals.com/InspectionVideo
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