When Waterfront isn't Waterfront, or even close.

We've all heard the lexicon of Real Estate used to put a little "lipstick and rouge" on a home's description to garner at least a second look. "Small" turns into "cozy." "Limited only by buyer's imagination" is a personal favorite; it puts the weight of potential back onto the purchaser's shoulders, like an overbearing T-ball coach, "I guess you folks just didn't want to win badly enough" (sorry, Dad). It's almost as bad as using quotation marks too often to get your point across.

But peek-a-view and quarter-inch corridors when you stand on top of the toilet aside, waterfront is waterfront. It's a world of difference from water rights, beach rights, shared private areas, or docks; it means that the only thing in between your flip-flopped toes and the water is personal discretion or an 80 foot drop.

Thanks to a litigious society, and a penchant for John Grisham, there's a warehouse somewhere filled with reasoning behind some of the wording in listing descriptions. But as a Buyer's Agent in Whatcom County, I'm finding playground rules start when the buyer gets out of the car, with a waterfront property in mind, and finds the Emperor fully clothed or, well, nekkid. And the situation is usually about as uncomfortable.

How to avoid this? Find someone who knows the inventory, inside out, and on a personal level, AKA getting out from behind the computer and previewing your home. It's going to save YOU time and frustration, and make the whole experience better.

Travelling to the Louvre, to find that it's been filled with oil paintings by the slightly lesser known FRED Monet, of Cherry Hill, NJ will only breed contempt.

Our website www.realestate.bellingham.net takes information directly from the multiple listing service, and if it's been indicated that a home, condo, or parcel of vacant land is waterfront, the inventory is so vast, these "stretches" are hard to catch. Unless.

Always unless. Unless you've got a great buyer's agent. Your best line of defense is a buyer's agent who knows her or his inventory. And because the profession breeds creativity, we're inventive problem-solvers should there not be any waterfront place that meets ALL of your needs, we'll pull in options from outside the box.

So in summary, waterfront= wading in slowly, or falling at roughly 9.8 meters per second per second to a watery conclusion, possible lifeguard rescue, and get-well cards from your closest of friends.

Any thing else= angry buyer.
Chris McNamara

Taking the time to make the right Choices for Bellingham Waterfront Development

With 137 acres of waterfront to use as a palette for the Bellingham's new oceanscape, you'd figure that the endless possibilities would excite and ignite the masses. But, just as the camel was the product of a committee, with both the City and the Port of Bellingham working collaboratively, the people on the street should get ready for more deliberation than the Scopes Trial, with a murkier verdict. Which is brilliant. Venice developed over the course of a lot longer than the time we're giving ourselves here, and it still floods. Boardwalks like Boulevard Park, that you remember for a lifetime might need almost as long to plan; ocean-side parks like Marine Park, that we pass down to our kids should start with architectural design that was passed through generations of architects. Have you ever gone on a city tour in Europe where the architecture is more than 400 years old? Those buildings that draw a picture of the city they're in span over governments toppling, changes in history. To know that the statues, structures, parks, and seascapes weren't just the product of a few groups of people, but rather a few generations collaborating to elevate the history of Bellingham, sounds like a better destination than a quick cab ride to a marina and waterfront condos. The existing structures on this acreage we're to work with were built in a short amount of time, for the short term gain of a few. Maybe we could teach our kids that we learned our lesson, and we're taking our time.

Chris McNamara

Players in the Home Buying Process

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The Loan Officer – Consults with the Buyer about their needs and financial situation and suggest what loan amount and loan program is most suited to them. When the Buyer has made an offer, the loan officer then coordinates with the appraiser, the underwriter, the title company, the real estate agents and the escrow officer to get the purchase approved and funded on the closing date. A good loan officer has skills and knowledge about how to best “package” and present the deal to the underwriters to secure approval.

The Appraiser – Is sent out by the lender to look at the house and determine if it is worth the money that is being paid for it. A lender does not want to loan more than the house is worth, since this would put them at high risk to lose money in the even of foreclosure. The appraiser’s analysis is primarily based on recent sales of comparable properties. The appraiser also looks for conditions that would cause the house to lose value, such as a leaking roof or rotting foundation, and they may call for further inspections if these are suspected.

The Underwriter – Looks at both the borrower and the property to be bought and determines whether or not the lending institution will make the loan. They try to make loans that create as little risk as possible for the lending institution. A high loan to value ratio increases risk. They generally have guidelines that they must follow which state what kind of job history, credit history, and financial assets the borrower must have for a certain type of loan and loan amount. The loan will be refused or the interest rate increased if guidelines are not met. They also use the appraiser’s report to help them evaluate the property.

The Home Inspector – Is hired (usually by the Buyer) to do an inspection of the home before the purchase. In Whatcom County, the inspection typically last 3 to 4 hours, cost $250-$450, and generates a lengthy and detailed written report. A so-called pest inspection, which looks at the foundation and checks for wood-destroying organisms, is usually part of this inspection report, and a clear pest inspection is often required by the underwriter.

Your done!
Johnny Howes

Players in the Home Buying Process

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The Title Company – Investigates to be sure that the person selling the property is the legal owner and that there are no defects to the title or outstanding liens against the property when it closes. They do research and generate a report that also details any other claims that others have on the property, such as easements, mineral rights, or assessments. The Buyer and Selling’s agents are given a title report to look over soon after escrow opened. The Seller typically pays for title insurance for the Buyer.



The Escrow Officer – Has the job of coordinating to make sure that the transaction actually closes on the closing date, that the terms written into the purchase and sale agreement are followed, and that everyone is paid what is due them at closing. They communicate with the other “players” as needed to make sure this happens. They call the Buyer and Seller in to sign final documents a day or so before the closing. Then on the closing date they release money to the appropriate people and have the new ownership recorded at the courthouse by the title company.



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Players in the Home Buying Process

(continued from previous blog)

The Buyer’s Agent – Consults with the Buyer about needs and wants, informs about and shows properties currently on the market that might meet those needs, advises the Buyers as they write up their offer to purchase, and represents the Buyer’s best interest in negotiations, then coordinates with others to make sure the sale closes. The Buyer’s agent is usually not paid by the Buyer; their brokerage is paid by the listing agency if they write an offer on the listing that closes. Their brokerage then gives part of that money to the Buyer’s agent.

The Listing Agent – Has signed a listing agreement with the seller. In this contract the seller promises to pay the listing agency a commission if the house sells in a certain time period; the agent promises to market the property and try to secure the best possible price and terms for the Seller, represent the Seller’s interests, and keep the Seller’s secrets. When an offer is presented, the listing agent looks it over along with the Seller and advises them whether to accept it as written or make a counter-offer that modifies it. The listing agent tries to obtain an agreement which will meet the Seller’s needs and desires as closely as possible and which will be the most likely to get funded and close.

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Players in the Home Buying Process

This being my very first blog, I thought I would write something for the first-time homebuyers. However, this information is useful for anyone looking to buy or sell real estate.

So have you ever wondered who, exactly, is involved in a typical real estate transaction? Well if you have, google no farther! Grab that cup of Mt. Dew, have a seat, and 'Just sit right back and you'll hear a tale, a tale of a fateful trip...'


Below is my list of 9 players that are involved in your typical transaction. Why only 9 you ask? Why not! Maybe it's because there are 9 U.S. Supreme Court Justices or that 10 reminds me of Pearl Jam's first album, which reminds me how I missed them rocking out in a local bar in Bellingham WA, under a different name, back in the early 90's.


So drum roll please, preferably in the key of E!

The Buyer and Seller (Yes I know that this is actually two players)– Typically have different interests, since the buyers usually wants to pay the minimum price and the seller usually wants to receive the maximum price. However, there has to be a “meeting of the minds” and in most cases the sale ends up as a “win-win” situation in which both parties benefit and get their needs met.

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Sudden Valley Bellingham WA

The average price on sold residential homes in Sudden Valley Bellingham, WA have dropped in March 2007 compared to March 2008. This could be a little drop in prices but also buyers could be choosing less expensive homes.












The average price sold on vacant lots in Sudden Valley Bellingham, WA have increased from March 2007 compared with March 2008 by about 24%. March 2007 average is $61,185 and March 2008 $80,000.