Snohomish County WA/ WCRER Housing Market Analysis/ 2nd Quarter 2008

Here is some interesting/ helpful data on the Snohomish County Housing Market

Snohomish County home re-sales were down - 17.4% from the previous quarter, and down -44.4% 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 Snohomish County are down -41.5% from the second quarter of the previous year, in comparison to the -29.7% reduction statewide. The median re-sale home price in Snohomish County is $349,400, well above the statewide average of $291,900. The 2008 second quarter Housing Affordability Index (HAI) was 87.7 for Snohomish County, lower than the statewide index of 95.5.

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

Snohomish County WA/ WCRER Housing Market Analysis/ 2nd Quarter 2008

Here is some interesting/ helpful data on the Snohomish County Housing Market

Snohomish County home re-sales were down - 17.4% from the previous quarter, and down -44.4% 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 Snohomish County are down -41.5% from the second quarter of the previous year, in comparison to the -29.7% reduction statewide. The median re-sale home price in Snohomish County is $349,400, well above the statewide average of $291,900. The 2008 second quarter Housing Affordability Index (HAI) was 87.7 for Snohomish County, lower than the statewide index of 95.5.

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

FHA Approved Appraisal Services

Bennett Appraisals is on the FHA Roster of approved residential appraisers in Washington State. That means we're approved to do appraisals for FHA loans. Our certified residential appraisal team is trained on the rules and procedures in FHA's guidance and policy documents. We've met FHA's eligibility requirements and FHA has approved us to do appraisals for FHA insured loans. Remember, the FHA is different from the VA appraiser panel in that the lender can choose the appraiser.We provide residential appraisal services to all of Whatcom, Skagit, Snohomish and Island Counties (including the Point Roberts WA area via the Canadian Border). If you're in need of an appraisal for an FHA loan, please contact us and we'll be able to help you right away.

Bennett Appraisals
(360) 746-0224
bennettappraisals@comcast.net
Website: http://www.bennett4appraisals.com/

Bennett Appraisals serves 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

First Quarter Snapshot: Statewide, Whatcom, Skagit, Snohomish, & Island Counties, WA

According to the WCRER (Washington Center for Real Estate Reaserch) First Quarter 2008 Housing Market Snapshot:

WA Statewide: Home re-sales are down (-) 3.6% from last quarter, and down (-) 29.7% from a year ago. Building permits are down (-) 46.7% from a year ago. The median re-sale price is down (-) 2.4% from a year ago.

Whatcom County: Home re-sales are down (-)6.5% from last quarter, and down (-) 12.8% from a year ago. Building permits are down (-) 57.8% from a year ago. The median re-sale price is down (-)3.4% from a year ago.

Skagit County: Home re-sales are down (-)12.3% from last quarter, and down (-) 32.5% from a year ago. Building permits are down (-) 28.9% from a year ago. The median re-sale price is up (+)10.1% from a year ago!

Snohomish County: Home re-sales are down (-) 5.1 % from last quarter, and down (-) 34.8% from a year ago. Building permits are down (-) 46.7% from a year ago. The median re-sale price is down (-) 4.7% from a year ago.

Island County: Home re-sales are up (+) 21.8% from last quarter, and down (-) 30.2% from a year ago. Building permits are down (-) 44.1% from a year ago. The median re-sale price is down (-)1.2% from a year ago.

For Full State of Washington and Counties PDF Info:
http://www.wcrer.wsu.edu/WSHM/2008Q1/Snapshot_08Q1.pdf

Press Release: Chantale at Bennett Appraisals Receives FHA Qualification

Chantale Merrick, a Certified Residential Appraiser at Bennett Appraisals has received her FHA appraisal qualification. Appraisers accepting FHA appraisal assignments must be registered under HUD, and comply with HUD guidelines as well as USPAP guidelines.

Use the below link to check if an appraiser is qualified. https://entp.hud.gov/idapp/html/apprlook.cfm


You should always be sure your appraisal service provider is licensed and in good standing. The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) maintains a national database of appraisers and their license/certification status. It is available publicly at this link.


We currently provide FHA appraisal services to the Greater Bellingham area, as well as all of Whatcom, Skagit, Snohomish, and Island Counties. (Including the Point Roberts area via the Canadian Border).


Bennett Appraisals provides FHA 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 and Snohomish Counties. * Time permitted we also serve Point Roberts and certain areas of Island County.

Getting Rid of Junk Mail/ Opt Out for the Environment!

Everyday as a business owner, real estate industry participant and everyday consumer we are bombarded with junk mail and catalogs! Per information at http://www.catalogchoice.org/environmental-facts

According to estimates at the Catalog Choice Project; approximately 53 million tons of trees are havested each year to produce 19 billion catalogs! And that is just the catalogs! The energy expended in catalog production is enough to power 1.2 million homes for a year and produces the emmissions of approximately 2 million cars!

Opt out legistlation now provides websites and phone numbers to opt out:

Credit card inquiries:http://www.optoutprescreen.com/

Direct Marketing Association: https://www.dmachoice.org/ 1-888-5OPTOUT

Catalog opt out:
http://www.abacusoptout.com/
http://www.catalogchoice.org/

Residential Appraisal; Seller Services Provided in Whatcom, Skagit, Snohomish & Island Counties, WA

HOME SELLER SERVICES

If you are planning to sell your home, it might be a wise decision to make a small investment in a professional appraisal. Unless you study real estate values on a day to day basis, like a professional appraiser does, it's difficult for you to get a handle on real estate values. We aren't talking about how much you have invested in your home, how much you paid for it, or how much you want for it. We're talking about the true market value of your home, which could really pay off for you in the long run!

SELLING YOUR HOME FSBO

More and more homeowners today are choosing to sell their homes FSBO (For Sale By Owner) and foregoing the help of a real estate agent. Selling your home by this method can end up saving you a potential "hefty" commission (industry average is 5-7% of the home's selling price). Plus many FSBO sellers feel that they have more control in the process of selling their home since they're in essence making all the rules. But selling your home on your own will require a significant amount of "homework" if you're going to do it right. One piece of advice that is consistently given by the experts in selling your home FSBO....Do NOT "Overprice" Your Home! It's very hard to be objective about your own home because of your emotional attachment to it. A professional appraiser is objective and will tell you what you need to know, not just what you want to hear.

PRE-LISTING APPRAISAL

If you're working with a real estate agent to list your property, more than likely they'll provide you with a Comparative Market Analysis (CMA) that lists selected sales in your area as one of the first steps in determining what to set as the "Listing Price". This step is vital if you're going to maximize your profit and minimize the home's time on the market.

But even if you're working with the most experienced real estate agent, it's probably in your best interest to have an "objective" third-party's opinion of value prior to signing a Listing Agreement. And that's where we come in. We can provide you with a pre-listing appraisal so both you and your agent have an accurate description of your home's features and a detailed analysis of the most recent and similar "comparable sales" or as they're commonly called, "Comps". In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal can:

Be a very valuable negotiating tool once you have a potential buyer
Impress buyer's with written proof of your home's condition inside and out
Make you aware of problems and eliminate last-minute repair hassles that might delay a closing
Decrease the chances of unknown problems that cause sales to fall through
Eliminate the wait for the buyer or their mortgage company to get the appraisal done on their own

Many people are surprised when they find out that the market value of their home is much more than they thought, so investing in a professional appraisal actually allowed these people to receive several thousand more dollars than they thought they would when their home was sold. Others have an inflated opinion of their home's value and an appraisal helped them to realistically price their home in order for it to sell. An overpriced home will not attract buyers, which means no offers and no closing and that you have wasted valuable time, money, and efforts.

CONSULTATION

Maybe you feel like you don't need an "appraisal" but you'd still like some help gathering local property and sales data. Our reports help you to make an informed buying decision. We understand the complexities of buying a home and know what you are going through and will do our best to make it easier for you by giving you a high quality, professional appraisal that you can depend on!

When you order an appraisal report from us, you can expect. . . .

Prompt response to your initial inquiry:

We will give you personalized information for your particular appraisal need. Just tell us your situation and we will make suggestions.

Quick turnaround time:

Typically one week or less from the date the request is received. If you've chosen to receive a copy of your appraisal or consulting report via the Internet (EDI), you'll receive it within MINUTES of its completion.

Appraisal and consulting reports formats to suit YOUR needs:

When it comes to appraisal and consulting, "One size does NOT fit all!" We offer a variety of report types and delivery methods. Express mail too slow? We can deliver your report attached to a standard email, or notify you of an Internet site to download your report, the MINUTE it's completed!

Quick response to follow-up questions: Our reports are clearly written, understandable, and meet or exceed the Uniform Standards of Professional Practice that governs the appraisal practice. If you have any questions regarding your appraisal, after you've read the report, we encourage you to email or call us!

http://www.bennett4appraisals.com

Bennett Appraisals
1 Woodrush Ct, Bellingham WA 98229
Phone: 360-746-0224
Fax: 360-838-0634
Email: bennettappraisals@comcast.net


Bennett Appraisals provides 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, 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.

Recycling What You Cannot Use A Great Idea

A few counties in Washington state are participating in a program that recycles items that are too good to throw away. This is an excellent idea unfortunately not all of Washington's counties are participating ( good on ya, participating Counties!).
Per website info: "2good2toss.com is Washington's online exchange for reusable building materials and household items. The objective of the site is to facilitate the recycling and repurposing of materials and items that would otherwise be disposed at Washington state landfills and waste to energy facilities, in addition to promoting an important environmental ethic."
This is a website where you can place an add to look for or get rid of a perfectly good item many things are free or set at very reasonable prices. No illegal materials. No hazardous materials. Buyer beware. Check out this website: http://www.2good2toss.com/

Bennett Appraisals provides residential appraisal service 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