USDA – RD financing is Back

If you have been looking for an affordable home in the rural areas of our county then you have probably came some information on USDA Rural Development loan (RD – Loan).  With all of the changes in the real estate community dealing with financing etc. it has become increasingly difficult to purchase a home with a low or now down payment.  Many people have turned toward the USDA RD loan to assist them in qualifying for financing.  Recently we were told that the USDA RD loan program would be coming to an end because a lack of funds for the program.  April was to be the final month where the funds would dry up.   Good new hit the media and I just received it today that the “Rural Housing Preservation and Stabilization Act of 2010″  was unanimously signed and the much needed financing option will be back in effect.  (see the following article) Rural Housing Preservation and Stabilization Act of 2010 
 
Go to our Preferred Lender Page to see a list of USDA approved lenders. 
 

Whatcom County Parks

 As I was heading to work today, it dawned on me that I wasn’t wearing my coat… Wow! I think it might finally be Spring?   While there is a small chance of rain this weekend there is always hope.  I found these great links on the Bellingham City Website   Bellingham Parks and Trails and for Whatcom County Parks
Enjoy! and if you take a great picture of your family or some amazing image of nature in Whatcom County while you are enjoing all that it is, please share with us your pictures.
 
Enjoy!
 
LiveWhatcom.com

Bellingham a great place to Live!

 
 
 
best places to live Sunset Magazine article West’s best spots to suit your lifestyle

Is it cheaper to own than Rent?

  

2011 is going to be a great year for real estate. We just got the December numbers back and home sales are up!  The timing couldn’t be better for people to start having confidence in buying a home or investment and income properties.

This is encouraging, because of a surprisingly slow spring and summer market in 2010.  I know personally I have notice a drastic increase in phone, and Internet activity and subsequently increased in sales activity, especially in the last week or two.

I was sent a link to an article this week that I thought was worth sharing.   The title of the article is ”

HOMEOWNERSHIP MORE AFFORDABLE THAN RENTING IN 72 PERCENT OF MAJOR U.S. CITIES DESPITE GROWING CONSUMER PREFERENCE TO RENT

“  Pretty catchy title.  While Bellingham is not on the list Seattle which has much more higher priced properties and similar rents to ours is on the list of being on the line.  Based on information that we have gathered it is definitely feasible to move from a moderately priced rental home or condo and be able to find a reasonable replacement for close to the same amount as rent.  Not including the additional bonuses of tax savings and other financial benefits you receive when owning a home.  Contact us at info@livewhatcom.com if you would like to know more about these benefits, or contact your CPA or other tax professional. 

 
If you would like information about home financing options contact Mike Gish at Bank of the pacific (he is the one who sent me the article), or any of our other preferred lenders from our Mortgage Information page.  
 
Here is the link to there article, I hope you enjoy it: HOMEOWNERSHIP MORE AFFORDABLE THAN RENTING…
 
Thanks for reading,
 

Winter Home Checklist

I recently had a conversation with Jefferson Livingston of Pillar to Post during a resent home inspection that I was attending for a buyer client.  I was curious if he had some suggestions for myself and others looking for tips on winterizing your home.  He provided me with this checklist.  I hope you find it useful and informative.  Thanks Jefferson.
 
WINTER  CHECK LIST
 
 Here are a few helpful hints on preparing your home for the winter months

Roof Structure

  • Remove moss from roof. (Avoid pressure washing as this often causes more damage than good. Solutions & instructions can be found at most home improvement centers.)
  • Check condition of flashing & repair any loose or damaged shingles.
  • Clean gutters. (Even small amounts of debris can clog downspouts.)
  • Keep trees & branches trimmed 6 feet from roof & off power lines.

Exterior Items

  • Trim all vegetation 12 inches away from siding.
  • Keep earth 6 inches below/away from siding & all other wood while maintaining a gentle slope away from the home.
  • Remove all debris away from home such as leafs to help keep pests away.
  • Store firewood at least ten feet from home to help avoid pest infestation.
  • To help protect your home from water keep all gaps and joints in siding, even around doors & windows, caulked and keep well painted and sealed.
  • Add storm windows in older homes for better heat efficiency.

Crawl Space

  • Insulate plumbing lines to help protect them from freezing.
  • Keep all foundation vents unblocked year round, except during freezing weather, to provide adequate ventilation especially in the winter months when it is most damp. (Measure & purchase correct size vent plugs before freezing weather arrives.)

Fireplace

  • Have chimneys & flues professionally cleaned before use. (Soot build-up can lead to flue fires which often cause house fires.)

Furnace

  • Gas/propane furnaces should be serviced on an annual basis.
  • Replace/clean filters.
  • Have heat registers professionally cleaned (or vacuum out as far as possible) to cut down on dust or other impurities in the air.

Interior

  • Check weather stripping around doors & windows.
  • Replace smoke alarm batteries.
  • Add carbon monoxide monitors if your home uses gas or propane for any appliances or has an attached garage. ( They are also needed if you burn wood)
  • Add UV lights where desired to help cope with the not-so-bright NW winter.

Plumbing

  • If you do not have “frost free” hose faucets turn water to facets off or insulate them at interior & exterior.
  • Remove all hoses. Even if you have “frost free” faucets freezing water from hose can damage lines.

 

For other useful home inspection information including our popular

RESIDENTIAL CONSTRUCTION AND REMODELING ESTIMATES GUIDE

go to www.PillarToPost.com or call us at 360-392-8731 or toll free 866-350-POST.

Home energy conservation – Energy Audit

   

How efficient is your home? Is an Energy Audit for you?

 

I recently purchased and older home that we call “The Cottage” as an investment.  We didnï’t spend a lot of time inspecting the home for heat loss or energy efficiency etc. As I watch the news reports of the forthcoming snow and below freezing temperatures I decided I should probably look into it before it was too late.  I decided to contact Jim from Sustainable Energy Solutions. One of the tools that he had was a thermal imaging camera. I was excited to put my home to the test. I was surprised, but the little cottage faired pretty well. I ended up with a couple little insulation project that I can easily take care of on a weekend. I recommend giving it a try. In the process I asked Jim a few questions and found what he had to say very informative. I asked him if he would share some information on the LiveWhatcom.com blog, so here it is. Thanks, Jim
 
Why have a home Energy Audit?  
 
All forecasts in the NW indicate that it is going to be a cold and snowy winter. Even with the cold winter already here, there is still time to improve your home’s building envelope to save money on utility bills. About 46% to 56% of an average US household utility bill goes towards heating and cooling. If you have a central heater 10% to 20% can be lost in the ducting. And up to 40% is lost through roof, outlets, and cracks in the structure. From checking insulating around the door to making sure there is a correct amount of insulation in your attic and wall, a few dollars spent now pays off in the long run.

Since we live in a cooler climate we are usually more concern about heat lose form the home. One step a person should do is to ensure that here is the correct amount of insulation in the walls and attic. Not only can not enough insulation cause heat lose but, compressed, wet, or missing insulation can also contribute to heat lost. Areas were there are electrical or phone jacks are potential areas for heat lost as well. This also includes plumbing and venting for the home. And don�t forget to inspection the weather stripping around your doors and ensure it is in good shape. Your windows should also be chalked and sealed inside and out. Doors and windows are weak points in your home so special attention should be taken.

The next step to reducing ones heating bills is to make sure your heater is in good working condition. The ducting in a central heating unit should be inspected for holes or damage. Un-insulated and faulty ducting should be identified and fixed to reduce the amount the furnace has to work. Baseboards should be kept clean and should have plenty of space around them to radiate heat into the room.  

So how does one go about checking if there is the correct amount of insulation, or if there is heat lose for the home? Having an energy audit that includes thermal imaging will identify any areas of concern. A thermal imaging analysis of your home will show you right away where you can make improvements. An energy audit will show how you are using your utilities and ways you can save on them. A complete energy audit can shave hundreds of dollars off your utility bills year after year.  

If you would like further information on how to better weatherize your home please contact Jim at Sustainable Energy Solutions. I would be more than happy to schedule an energy audit or send some information your way.  

Sustainable Energy Solutions
Jim LeVain, Certified Energy Consultant
Phone: 360-201-9526
Email: jimlevain@comcast.net

Home Affordable Refinance Program (HARP)

 The other day I was talking with a passed rental investor client of mine who happens to be a mortgage loan officer.  He told me about a program that he and others had used for personal refinancing purposes and found it to be very helpful and worth doing. I asked him to share what he knew of the programs with my other clients and readers of this blog.  I hope this information is informative and helpful.  Feel free to email or call Tyler or myself if you would like to discuss this further. Thank you Tyler for putting this together for us.
 
Thanks,
 
LiveWhatcom.com Team
  

Home Affordable Refinance Program (HARP)

Mortgage interest rates for conventional purchase and refinance transactions continue to be at all-time historic lows. What if a current homeowner wishes to take advantage of the low interest rate environment, but his home no longer holds the amount of equity it once did? What if he bought his home with 20% down, but his home is worth 10% less now? What if he owes more than his home is actually worth? If the homeowner has a strong credit history, stable employment, and can demonstrate the ability to make regular monthly mortgage payments, he may be eligible to participate in the Home Affordable Refinance Program � despite the deterioration in value of his home.

General HARP eligibility criteria include:

  • Borrower is the owner a one-unit to four-unit home � including primary residences, second homes, or investment property.
  • The loan on the home is owned or guaranteed by Fannie Mae or Freddie Mac. You can check ownership status through these avenues:

Fannie Mae:

Freddie Mac:

1-800-7FANNIE

1-800-FREDDIE

www.FannieMae.com/loanlookup

www.FreddieMac.com/mymortgage

·         The existing loan closed prior to February 28, 2009 (Fannie Mae) or May 31, 2009 (Freddie Mac).

  • The borrower is current on his mortgage payments.
  • The amount the borrower owes on his first lien mortgage does not exceed 125% of the current market value of his property.
  • The borrower has a reasonable ability to pay the new mortgage payments.
  • The refinance improves the long term affordability or stability of the borrower�s loan.

The HARP program is available through June 10, 2011, but homeowners should contact an experienced an knowledgeable mortgage loan officer today to take advantage of this program, and truly historically low interest rates.

Additional information and a no-obligation, eligibility analysis can be obtained by calling Tyler Olson at 360-752-8268, or via email at tolson@bannerbank.com. Interested homeowners can also apply for a HARP refinance directly at  http://tolson-bannerbanklo.mortgagewebcenter.com/

 

Tell us how you feel about the current Real Estate Market condition.

 

 

We all are completely aware that the real estate market has seen better days in the last few years. The media is doing a good job confusing us all of what is fact and what is perception. It seems that you as a reader or watcher have a choice to fallow the many articles for or against home ownership in the current market.  Is the “American Dream” of home ownership still alive or should we be striving for something else? We believe it is. There are definite benefits in home ownership as investment, personal, cultural and direct financial reasons.

 

We want to hear from you. What is your advice for someone looking to buy their first home? How much do you value home ownership vs. renting? If you are a first time home buyer or are reentering the real estate market what are the questions that you have or your concerns? Is there any information that we can provide to you that would help address concerns or reinforce positive reasons?

Lake Whatcom Water shed Rules

 
  Bellingham watershed land clearing rules take effect October 1st

 

It is time again for the annual no clearing, no dirt disturbance and no digging ordinance to go in affect.  Every year for the past few years the area surrounding Lake Whatcom both in the city of Bellingham and unincorporated Whatcom County (known as the Lake Whatcom Water shed) Restricts land disturbance from the 1st of October until the 31st of May. 

 

If you live inside the Bellingham watershed many of you may know that there are restrictions as to when you can clear land. This article taken from the Bellingham Herald will give you a clear idea of when and what you can do within the watershed. You can also visit http://www.cob.org/services/environment/lake-whatcom/index.aspx for further information.

 

BELLINGHAM – Restrictions for land clearing in the Lake Whatcom watershed will take effect Friday, Oct. 1, and after that date landowners could be fined up to $1,500 per day for violations.

City law restricts clearing in the watershed from Oct. 1 to May 31 of each year, when no land-clearing work is allowed. Already-cleared land with more than 500 square feet of exposed soils, including vegetable gardens, must be protected with approved coverage techniques, including the following, according to Bellingham Public Works:
 
  • Well-established grasses, sod or vegetated surfaces that won’t erode.
  • Wood chips, mulch or straw that fully covers the exposed area to at least three inches.
  • Crushed rock or gravel not less than three-quarters of an inch that’s at least four inches deep.
  • Finished landscaping that, through plantings and/or mulching, prevent erosion and captures storm water runoff.

Read more: http://www.bellinghamherald.com/2010/09/27/1635722/bellingham-land-clearing-rules.html#ixzz10l1g03Bh

 

Bellingham Farmers Market

 

Bellingham Farmers Market

 

 This last weekend I had some alone time with my daughter and the weather seemed like it was going to hold. I didn’t really have anything planned for a Saturday morning and I hadn’t yet gone to the Bellingham Farmers Market since it had opened in early spring, so we decided to pack up and head out. The Bellingham Farmers Market is one of my favorite things that happens in Bellingham during the Spring and Summer months. You can count on being fed and entertained all at the same time. If my kids don’t want to go, which is the usual, I just bribe them with the opportunity to get some fresh Kettle Corn from one of the vendors. I take food pretty seriously, so the first thing I like to do is survey the options. The food options have doubled in size since its opening. We walked the perimeter and inside of the market building. The main structure is a cool piece of Bellingham architecture. Many of the structural beams etc. are recycled bridge beams from (I think ) the Nooksack River bridge.   Anyway, my usual purchase would be a Mt. Bakery berry scone and a ham and cheese croissant. As I walked the fresh cooked food isle, passing by Hemplers hot dogs, Fresh Bread, Ethiopian, MexicanMallards Ice cream and others were all very good and appealing. I was just ready to go with the usual until I stumbled upon a wonderful find. I saw a dad with his kids on a Saturday, like myself probably giving mom a much needed break and it caught my eye. (I was on a similar mission) Both kids were sitting on bikes attached to a custom wood counter and seemingly attached again to a blender of all things. This was defiantly worth checking out. I am a gadget guy…   I look above and I see the sign that says Smoothie Peddler..of course! We decided to give it a try with a mixed berry medley. My 4 year old couldn’t reach the peddles, so we shared the seat. Within minutes, if not seconds we had a “smooth” smoothie that was well worth the work and the $5. We took our smoothie and the experience “to go” and walked through the rest of the market. The hula-hoop lady is always a favorite. My son has become quite the natural hula-hooper, I don’t know where he got the skills, I know he didn’t get them from his mother or I, but nonetheless, he found them at the Market. I recommend spending some time listening to one of the street musicians or checking out the Balloon guy, he’s actually pretty funny, not to mention talented in all that is balloon. Lots to see and do; Pick up a creative handmade gift, experience food from different a different culture or a local producer, fresh vegetables and fruits and much more. This is no Seattle Public Market, but is well worth the trip and worth doing every few weeks. I hope you have a memorable trip to the market the next time you go. If you have a fun story or experience that you would like to share, please do. Comment on this blog entry or email us at info@LiveWhatcom.com   and we will share it with the community.

 

Please share with us your stories of �Living Whatcom� and we will share them with the community. Email us at Info@LiveWhatcom.com