Fairhaven

Real Estate Investment and your College Kid

You’re already spending a ton of money sending the kid to school, “investing” in his or her future, so why not hedge your bets on an investment that might actually pay you back someday?  Think about it- you’ve got at least four years of living expenses to pay for on top of the tuition. You can either throw it away paying for a tiny, overpriced dorm or some dumpy, overpriced rental, OR you can take that money and put it towards something that has a future. Like real estate.  Let me explain…

Rates per person at Western’s dorms run roughly $500 (3 kids in a room) to $800+ (single occupancy) per month, NOT including food expenses.  Rental rates anywhere near campus run about $400-600 a month per room, depending on the number of rooms.  Studios and 1-bedrooms are commonly $700-900/month, whereas you might find a decent  3-bedroom for $1400.   Let’s be conservative and say it’s about $600/month on average, per room. Over 4 years (48 months) that’s almost $30,000(!) that you will NEVER get back.  As Everett Dirksen famously said,” A billion here, a billion there…pretty soon you’re talking about real money!”

Consider this:  Right now, you can buy a 1-bedroom, 600 square foot condo, built in 2006, less than a half-mile from Western, for $140k.  With 20% down at 6% interest, the monthly payment, which includes taxes, insurance, and HOA dues (W/S/G) comes to about $925, leaving only electricity and cable for expenses.  Sounds like kind of a lot, doesn’t it? Let’s take a closer look.

- Similar units in this building are currently renting for between $725 and $800.

- You can write off some (maybe  all) of your interest payments , giving you roughly 25% back at tax time, depending on your bracket, making the effective monthly expense closer to $700. Make sure to talk to your accountant about this and other creative write-offs you might find…

- As an owner, your monthly expenses remain fixed over time.  According to Cory Walken, a colleague who studies rent growth in the area, rents near Western have increased at an average of about 6% per year, over the past 5 years.  Assuming that trend were to continue, the monthly rent on that same unit would go up  to almost $900-$1000 by the 4th year of your student’s education. Over 4 years, that would cost you between $38000-$42000 in rent! Gone, flushed….never to be seen again…

- Don’t forget about appreciation! Even in these tough times, most analysts are expecting the market to have corrected itself in the next couple of years, meaning there is a good chance the value of your investment will begin to increase during the 4-5 years that your student will live there.  That’s right, you might even MAKE money on this thing!  Worst case, you can always hang onto it to make sure the kid doesn’t try to move back in with you after college…

This is just one example, of course.  There  are several other condo opportunities I can point you toward.  There are also houses and duplexes, etc… The numbers can look even better if you buy something with more rooms. Then, you can collect $500-$700/month of OTHER PEOPLE’S money! That ’s the best kind of money, after all…

If you’d like to look more seriously at this type of investment, keep in mind that there are all kinds of different programs available, requiring anywhere from 3.5% to 20% down.  You can buy as an investment property, as a second home for yourself, or possibly as a first-home for the kid, which means eligibility for the $8000 first-time buyer tax credit. Each of these options has it’s own credit and income requirements, as well as unique tax implications.  Again, I would suggest consulting your accountant, as well as a mortgage professional, to make sure you understand clearly these particular details. You can talk to me if you want to know where to find these properties.

I can be reached on my cell at 360.510.2230, or by email at rob@buyertours.com

For more information on loan programs, you can talk to Jack DeCook, Senior Mortgage Consultant at Wells Fargo in Bellingham, 360.319.7119 jack.decook@wellsfargo.com.

A Place to stay while searching for property in Bellingham

Just wanted to take this opportunity to share with you some wonderful places to stay while your on a quest to see if Bellingham Washington could be your next home.

I have personally stayed at the Hotels listed at one time or another and this is of course my opinion.

Please note many have spa’s. This is due to my body needing to recover every now and then..

I also want to be able to recommend properties suited to each clients individual needs. Here is the first hotel featured in a series of great accommodations in Bellingham and surrounding areas:

Chrysalis Inn and Spa

The Chrysalis is a fantastic property nested in the Historic area of Bellingham named Fairhaven. You will not be disappointed when you are gazing out the window of your room and watching the sunset on the bay. The rooms are decorated with newer features of slate, granite and glass. Jacuzzi tub to relax in and window seat to enjoy the view. Fireplace for the winter nights and just an overall feeling of total relaxation.

This is good because sometimes I have been with clients and shown a dozen homes and you just need a place to download all the real estate you just toured.

The restaurant and Wine bar Fino is wonderful and you will enjoy the complimentary breakfast. An assortment of bagels, muffins, eggs, granola, yogurt and the usual coffee tea and juice. Dinner is truly an experience as well as the sun sets upon the bay.

The spa is award winning and would be my favorite. The smell of the Essential Elements spa products help maintain a relaxing space and you feel so blissful every moment you spend whether it be a massage, facial or just a pedicure.

Just steps outside will find you walking on a fantasic pier that connects to Boulevard Park where you can enjoy a wonderful cup of coffee and perhaps a scone at Woods Coffee. Take a walk in the other direction and you will find yourself in the heart of Fairhaven. So much to do and see that is a whole other blog in itself.

The only disclosure that must be made is that you may hear the occasional train drifting by, I personally love the sound of a train.

If you are looking to spend time looking for real estate in Bellingham and would like stay overnight, give the Chrysalis a try. It will take the stress out of riding around Bellingham with a Realtor all day:)

A sweet and simple approach to real estate,

- Katharine Carey

Internet Home Search: Drinking from a firehose

The Internet  is no longer a fad, much to the chagrin of a good friend of mine who will remain nameless. His stock in Beta tapes, Laser Discs, and Pepsi Clear are hopefully rounding his portfolio out nicely, and it’s from this perch that there are  few squatters left.

The solution the Internet solved was the lack of Information Now!, a movement that swept across the nation with the such speed that there’s not even an 80’s Pop reference I can make to draw a close-enough comparison, though jams and break-dancing are close.  It got you real estate information, whatever it was, when you wanted it, and when it didn’t get there quick enough, they went to fiber-optics, cell phone towers, and a failed attempted bringing back carrier pigeons.

And it solved problems…but questions beget questions.  And the one thing the ‘Innanet didn’t do, was ask you why?  Imagine the time saved?

Long tail searches have really fleshed out this trend, where your computer, or G-Mail can almost see where you’re coming from, through algorithms  but not really.  “Live performances Final Countdown WAV” searched at 3:00AM  doesn’t need an explanation, it’s just basic curiosity, but ” Homes Bellingham Under $300,000″ can return, oh say, more than your share of sites.  And you just have a simple question.  That’s where we come in.

You might  get a call asking why, mainly because for every 5 billion  people who are looking online at homes, there are a few that have valid questions to be answered, and are frustrated because drinking through a fire hose doesn’t ever seem to quench thirst.  No one’s ever stood back up, and said “That hit the spot!” unless they were part of a very poorly written satire for the WB (that took a lot of time and effort to write, but did the execs call back? No).

So here’s why we’re calling. Offering problems to solutions, and here’s my list of how:

Looking for a property online? You’ve got three thousand Bellingham real estate websites at your disposal, and yet all you’d like to do is see all the three bedroom, 2 bathroom homes under 1,500 square feet.  You’d like to see them as soon as they come on the market if possible, because you’ve seen all the others, and they’re starting to blend together!  What if you only checked your e-mail, clicked on a link that showed you just these?

Researching the area?You’re interested in waterfront, lakefront, mountain view property but don’t know the area that well, the pricing for certain areas and why they might be higher than others, how close are the schools, are they any good?  What if there was someone who’s job it was to know all of these things, and keep you up to date with bulleted lists and photos?

Looking at homes based on what the listing price is? You’re looking to either move here, downgrade your home size,  check out second homes, or condos, but are amazed at the prices, and wonder if there are any hidden costs, association rules, or more importantly DUES?  What if the home has been on the market for 900 days, with no price reductions and the seller is ravenous to take any offer? What if there was a contact you’d made that could get you this info on all properties?

Looking at getting your feet wet by previewing a few homes? You’ve made your list of 19 homes that might meet what you’re looking for, but looking at the list it’s daunting. Some might have 3 bedrooms, some might have 3 bedrooms and an office that would fit what you’re looking for, but you could cut down your tour by about 10 homes if someone had walked through these before after talking to you for a little bit, and got a sense of exactly what your tastes were?

Looking online for a lender to give you the best rates? You’ve checked out homes online, and are ready to talk with a lender so you know which homes are in your realm , but you’re afraid of just putting your information into any system. You want someone who knows the programs, who’s done this a million times successfully without any hiccups, and is going to explain to you your options; the good ones, and the bad ones, and the ones you should just steer clear from, but you don’t know how to find these people.  What if there was someone who worked with lenders EVERYDAY, and knows the folks who follow through and have a great temperament for what you might be facing? First-time home-buyers, haven’t bought a home in a few years, or are just curious if there have been any changes?  What if there were someone who does this everyday that can take 5 minutes and walk you through the process?

Wondering what buying a home entails, start to finish?

Where to start if I want this to be a fairy tale, rather than a woe of caution? You’ve tossed and turned over whether or not this is a good idea for you, but have a zillion questions, and need a plan.  A successful plan to get you where you need to go.  What if there were one available, tailored to what you wish to accomplish?

Your answer could be a real estate agent.  Yes, you can do it yourself.  You can build a house yourself.  My Dad fixed the sink by himself, and watered his forehead and Chuck Norris T-shirt every time he went to get a glass of water, before they called a professional to come in and do the job correctly, quickly, and at minimal cost. And no round house kicks for disrespect.

Click to chat below, if you’ve got any questions, and I’m available!

Step Aside, Virginia. Fairhaven is for Lovers*

Yep. It’s for lovers of shopping, lovers of quaint little restaurants, like Mambo Italiano, the new Mexican joint called Milagros (Jesse, why no Big Mama?) , and for dessert, cupcakes and gelato.  It’s like an upscale Food Court, except the kids are cooler, the food’s better, and there’s no Orange Julius. So, nothing like the Food Court.

Sure there’s the Black Cat, with their mood lighting and their Fondue, or you can go to Flats, the tapas place with butcher paper on the tables and crayons, and have her sign her first name with your last name, until you realize it rhymes.  Or freaks you out.  If you’ve struck absolute gold, and found someone in your life to share Fish and Chips with, hit the little red bus that sells fish and chips, and though the gazebo does have a maximum capacity for 9, if you look a little crazy, you could probably keep folks out. Crazy hat lady with the stink eye, I’m writing about you (should have taken the blue pill).

There’s a wine tasting option at the Old Fairhaven Winery (hint: no Boones or Thunderbird), share a book on which planets you’re from at Village Books, apologize for her home planet over a beer at Archer Ale house, and buy her make-up flowers at A Lot of Flowers.  More expensive than FTD? Yes.  But some times you need to say you’re sorry, or I love you, right then. Or your doomed. And wanting out of that doom as soon as possible.

And since it’s summer (cue the SUN!), we’ve got the movie series for the Outdoor Theatre Series .  Show that special someone your fun side, by either taking them to see Iron Man, a tremendous movie, with CGI effects, witty banter, and luxury vehicles from flying suits to the Audi R9 like you want……or you can see Mama Mia.  A musical three hours long that baby boomers can’t seem to resist standing up and dancing to with conviction not seen since the Hale-bop folks (Mr. Brosnan will not return calls to give you those hours back of your life, or the soul he smote when he decided to “do his first musical.”).

Bad life decision aside,  dinner has been eaten, apology beer has been drunk, flowers given, books read, fish and chips shared, stink eye given, the walk to Marine Park is paved with information, if you look for it. Little plaques that line the northern sidewalk give you an idea of what used to happen where you walked.

And you’ll pass the train station, where someday you could say goodbye, the ferry terminal where you could scream HELLO ALASKA! or Victoria.  Depends on your plans.

This town is limited only by your imagination, budget, and motivation.  Date night in Fairhaven is just about the same.

Chris McNamara’s Profile

Create Your Badge

Ski to Sea Race - May 24

It’s Memorial Day weekend and what that means here in Bellingham is the annual Ski to Sea Race from Mt. Baker to Bellingham Bay.  The race is a relay starting on Mt. Baker with a cross-country skier handing off a baton to downhill skier who hands off to a runner who hands off to a bike rider who hands off to a canoer who hands off to a mountain bike rider who hands off to a kayaker who finishes the race in Fairhaven.

The race is often traced back to the Mt. Baker Marathon held from 1911 to 1913. The marathon was a  foot race to the top of Mt. Baker conceived by the Mt. Baker Club as a publicity stunt aimed at focusing the government’s attention on the region to have the North Cascades area designated as part of the National Park System

To present Ski to Sea Race began in 1973.  Now a relay race, it was designed to showcase the recreational opportunities available in Whatcom County. The Race has evolved into the annual event it is today, attracting participants from all over the world.  It has been featured on national television several times.

Aside for the race Ski to Sea weekend has also evolved to include a grand parade, a junior race, a junior parade, a golf tournament, and a tremendous party and festival where it “all ends in Fairhaven” on race day.  If you happen to be anywhere near Bellingham come on down to Fairhaven enjoy the party atmosphere, the art, the food, the music, and watch the racers cross the finish line.

Backyard Habitat and Native Flora Fair on the Fairhaven Village Green - Saturday, May 9

Backyard Habitat and Native Flora Fair on the Fairhaven Village Green - Saturday, May 9, 10am-4pm

Want to attract some birds to your yard? Enjoy a day in Fairhaven and learn about native habitat for your homes. Native plants can provides food and shelter for local songbirds and other wildlife, reduces the need for water and chemical pest control, and increases the biodiversity of our town.

The Fairhaven Village Green will be the site of this annual free event which will features guided walks and garden tours, a presentations on native plants and backyard habitat gardening, a native plant sale, backyard tours (11am-3pm), information booths, and a chance to build a nesting box with folks from the North Cascades Audubon Society.

This event is sponsored by the Bellingham Parks and Recreation Backyard Habitat Program and the Koma Kulshan Chapter of the Washington Native Plant Society.

image courtesy of flickr.com by law_keven

Bay View Condos

We’re so fortunate to live in this beautiful place called Bellingham.  One of the things I enjoy so much about being here is being around the waterfront, and having water views all around.  Driving in and out of Fairhaven on the Boulevard and seeing the Bay is always a joy.  Sometimes I’ll drive down 36th Street out of Fairhaven, which is another great place to see the Bay.  I was out taking some pictures and looking at condos in Fairhaven today and thought I’d see how many Bay view condos are available in Bellingham today.

If you looking for a Bay view condo there are 77 of them available in Bellingham as of today.

The least expensive ones is a 1 bedroom 1 bath unit on High Street near Western Washington University selling for $115,500, there are 6 Bay view condos on the market for under $200,000.

The most expensive condo is in the Waldron building, it is a 2 bedroom 2.75 bath unit in the heart of the Historic Fairhaven district and it is selling $1,565,000.

The largest unit is a 2 bedroom 2.25 bath unit that is 3345 square feet and its in the new Park Place Residences above Boulevard Park selling for $895,000.

60 of these Bay view condos are in Fairhaven or on South Hill.

There also three Lake view condos available in the Bellingham market from $164,900 for a 2 bedroom and 1 bath unit to $349,900 for a 2 bedroom 1.5 bath waterfront unit where you can walk out your patio door to your own beach with a dock.

There were 13 Bay view condos sold so far this year ranging in price from $87,700 of to $570,000.

If you’re interested in any view condos  feel free to email me or give me a call at 360-739-6981.

7th Annual Dirty Dan Harris Days Seafood Festival, April 25 - 26 in Fairhaven

Come and celebrate the “un-scrubbed” Founder of Fairhaven - Dirty Dan April 25 & 26, and enjoy some Seafood while your there.

The event is free and features not ony food & games but live music, a toy boat building, friendliest catch, interactive salmon art, pro fish fillet contest, dress-up contests, cooking demos, chowder cook-off and the world’s only piano race (that we know of)!

Saturdays Events Include:

Miles for Memories Alzheimer’s Walk Run -9 am

Seafood Festival from 10:30 am to 5 pm, on the Village Green

Harris Avenue - Vespa Show from 11 am to 2 pm
Fish Filleting Contest .. 12 pm
Salmon Toss - 1:30 pm
1800s Period Dress Contest & Dirty Dan Look-Alike Contest - 3:15 pm
Cupcake Eating Contest . 5 pm

Sundays Events

Dan Harris Challange Rowing Race 10am - Boulevard Park
Village Green   Live Music 12- 4 pm
Chuckanut Chowder Cookoff 2-4 pm
Awards 4pm
Piano Race 4:15 pm

Come and join the fun!

Java in world class setting: Boulevard Park, Bellingham

Boulevard park has long been a great place to bring a picnic in the afternoon, or take your shoes off while taking a lunch break.  In 2008 the city allowed the small pottery studio to receive a new lease…that of Woods Coffee which has brought a new flavor to the park. 

Before the morning beverages arrived, the mornings at Boulevard were quiet and left to early morning exercisers.  And on the poor weather days left the park pretty much empty.  Now the park is greeted by early morning conversations over warm spiritous drink in all weather conditions.  Woods also offers free Wi-Fi to it’s customers which makes it a perfect place to get a little work done.

On this morning to the right we were greeted by several inches of snow at the park.  It was very pleasant to sit on the warm stone hearth of the fireplace and watch the park get covered in light, frosty crystals. 

This year another attraction will be completed at the Park.  It’s entitled “The Porch” and is designed for small productions of theater and musical attractions.  The workmanship is that of a true craftsman and is built for many generations to enjoy.

Allow me the pleasure of showing you around if you are new to the area, or if you are thinking of buying Real Estate in or around Bellingham.

Cheers,

Dale Kreiser

360-319-6365

Please enable Javascript and Flash to view this Viddler video.

Fairhaven: Where Real Estate and Good Food…

go hand in hand.  When I’m not talking about the 37 Homes listed within 1 mile radius of Fairhaven ranging from $249,000 for a 2bedroom/1 bath home up to $3.5 million for an Edgemoor estate, more than likely food is on my mind.  Not a glutenous type of craving for mass quantities, but more of a healthy thought of what would be pleasing to the palate. 

On facebook a dear friend and classmate named Kim, from Eagle Point high school class of 84′ advised me to check out a friend’s Artisan cheese shop in downtown Fairhaven.  I don’t know about you, but I’m fiend for Gouda or Dubliner with a nice glass of inexpensive red wine, a few friends…Oh, so I finally went to check out Quel Fromage  yesterday. 

The shop is on the street level at the corner of 12th and Fairhaven boulevard in the 12 Street Village.  It’s within a few blocks proximity to down town Fairhaven.  Inside I was pleasantly greeted by Rachel Riggs the owner along with a wonderful assortment of wine, and but of course lots of fine cheeses.  It took me maybe 3 milliseconds to take focus on a chunk of Balarina Gouda cheese that was marked $9 for a half pound.  I must say that is some of the best cheese I’ve ever had.

Behind the counter you’ll find the French Proverb shown to the right…

“He who does not eat cheese will go mad”  

I don’t know if it’s true or not, but I’m not going to take the chance.

 Location, location, location.  You could hardly go wrong with any property that is close to Fairhaven.  From the terrific views of South Hill to the amazing neighborhood of Edgemoor, you would only be minutes away from some wonderful boutiques, fine dining, great coffee houses and many other sole proprietor businesses.

Allow me to give you a personal tour of my favorite place in the world.  Call me anytime.

Dale Kreiser

360-319-6365

Next Page »