Whatcom County Transitions To a Annual Real Property Revaluation Program

Per the Whatcom County Assessor Webpage: "The Washington State Dept. of Revenue has approved the Assessor’s Office plan to transition to an Annual Real Property Revaluation program. Beginning in 2010 for property taxes due in 2011, one-sixth of the County will be inspected and all property will be statistically revalu...ed annually." See information/question and answers at link below.

http://www.co.whatcom.wa.us/assessor/index.jsp

Washington State's Financial Institution Information

With all of this scary financial news, it is difficult to keep up with all the latest developments! One place to gather information about Washington State Financial Institutions is the WA DFI: http://www.dfi.wa.gov/

This website has an excellent question and answer section that covers such current changes in the market such as; deposit safety, money market funds, AIG, mortgage payment issues, etc. here: http://www.dfi.wa.gov/consumers/economy.htm

Another helpful link (FDIC) on the financial health of your current baking institution can be found here: http://www2.fdic.gov/idasp/main_bankfind.asp

A helpful link o the finacial health of your credit union can be found here: http://www.ncua.gov/indexdata.html

Here is a set of links put together by the FDIC on the different bank and financial instituion ranking systems: http://www.fdic.gov/bank/individual/bank/index.html

2nd Quarter 2008 WCRER Housing Analysis: Whatcom County WA

Here is some interesting and helpful housing data:

According to the Washington Center for Real Estate Research 2008 Second Quarter Housing Analysis; Whatcom County home re-sales were down - 14.7% from the previous quarter, and down -26.5% from the second quarter in 2007. Statewide home re-sales were down -8.5% from the previous quarter and down -31.7% from the second quarter in 2007. Overall building permits in Whatcom County are down -42.9% from the second quarter of the previous year, in comparison to the -29.7% reduction statewide. The median re-sale home price in Whatcom County is $280,000, below the statewide average of $291,900. The 2008 second quarter Housing Affordability Index (HAI) was 90.9 for Whatcom County, slightly lower than the statewide index of 95.5.

See all county info: http://www.wcrer.wsu.edu/WSHM/2008Q2/Snapshot_2008Q2.pdf

Estate Appraisals/ Whatcom, Skagit, Snohomish & Island Counties, WA

Call Bennett Appraisals.

Settling an estate usually requires an appraisal to establish Fair Market Value for the residential property involved. Often, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of death. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.

Bennett Appraisals
(360) 746-0224
www.Bennett4Appraisals.com

Whatcom County WA Recorded Document Available Online

According to Whatcom County (http://www.whatcomcounty.us/ ) recorded documents are now available online.
"Whatcom County Auditor Shirley Forslof announces that documents recorded at the Whatcom County Auditor's Office are now available on the internet. These public records have always been available at the Auditor's Office, now they're available on the internet"
Go to Whatcom County Recorded Documents here: http://www2.co.whatcom.wa.us/paris/

Bennett Appraisals provides residential appraisals services/ FHA appraisals to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Camano Island, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, Whidbey Island, and all of Whatcom, Skagit, Snohomish & Island Counties. * Time permitted we also serve Point Roberts via the Canadian Border

Interesting Online presentation, WA Energy Star

If you live in washington and you are interested in energy efficient homes there is a website that you might find very interesting. Energy Star homes are designed, built and performance tested to offer enhanced comfort, healthier indoor air, energy savings and peace of mind. These homes are as much as 30% more efficient than homes simply built to code standards, making them some of the most energy efficient homes on the market today.
Homes that earn the Enegy Star qualification must meet guidelines for energy efficiency set by the U.S. Environmental Protection Agency.

Energy Star Washington Home Tour: http://www.northwestenergystar.com/neea_web/index_WA.html
US Environmental Agency Energy Star Brochure: http://www.energystar.gov/ia/partners/downloads/consumer_brochure.pdf

Bennett Appraisals provides residential appraisal services to the following areas: Bellingham, Birch Bay, Blaine, Custer, Ferndale, Fairhaven, Geneva, Silver Beach, Sudden Valley, Sumas, Acme, Anacortes, Alger, Arlington, Bow, Burlington, Cain Lakes, Conway, Concrete, Darrington, Deming, Edison, Emerald Lakes, Edmonds, Everett, Everson, Glacier, Granite Falls, Hamilton, Kendall, Laurence, La Conner, Lake Stevens, Lynden, Lyman, Lynnwood, Maple Falls, Marblemount, Marysville, McMurray, Monroe, Mount Baker, Mount Vernon, Mulkilteo, Rockport, Samish Island, Sedro Woolley, Snohomish, Stanwood,Van Zandt, and all of Whatcom, Skagit & Snohomish Counties. * Time permitted we also serve Point Roberts

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

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