As the last few clients I've had in town have been interested in the  total costs of places in Bellingham per month, we'll always go through what they're comfortable paying according to their monthly mortgage payment.  Then figure in utilities, other bills, car payments, credit cards; a regular slough of money going out.  We're all there, so no judging, especially around the holidays. 

And yet with condos, everything is neatly packaged for the most part.  A large portion of the complexes in town are going to include water/sewer/garbage, sometimes cable, sometimes even Internet or an on-site gym.  Most also include the upkeep of the exterior of the complex, and any of a cornucopia of repairs will be taken out as special assessments or from the coffers of the reserves on Home Owner Dues. 

So as it's the season for lists, I thought a list of Fairhaven Condos on the market as of  today, as well as what they include might be of help.  The list below is based on what's been reported through the NWMLS as of 12/12/08.

And these can change, mainly with meetings for the Home Owner's Associations or special assessments.  If you'd like to know more about what to consider when considering condos, drop me an e-mail.

Labels: Fairhaven Condos, Fairhaven homes for sale, Fairhaven Market, Fairhaven Real Estate, Fairhaven Sales Numbers, Fairhaven Stats

It's a buyer's market. In the early 2000's, Bellingham property, including Fairhaven condominiums, were hitting the market, and almost immediately, the bidding began. This tended to bring up the prices of all property here in the city of subdued excitement, but more so with the holy grail of real estate, the waterfront/water-view property.

Fairhaven's coast is lined with parks, railroads, dock space for the Coast Guard and the Alaskan ferry, but is also a timeline of construction for Bellingham. New condominium projects are topping the charts with offered prices near $1.7 million, with contemporary construction and incredible views. Juxtaposed in between them are older condo projects, apartment conversions, and the occasional Tudor with apparently a million dollar view off the 70 year old porch.

An interested buyer can look forward to nights in Downtown Fairhaven within walking distance, or a short stroll to either Marine, or Boulevard Park, but expect to start looking at $260,000 and up, and that's for a studio. 

Remarks from previous clients who have toured through some of the condos in Fairhaven?

• These condos are old. Some are old, yet a great deal of them have been bought and refurnished by the most recent owner. Ask your Realtor when the last sale of the condo was, and if any work has been done since then.
  
• These condos are small. This is one statement that depends on what you're used to.  On average, the condos in Fairhaven and reaching over into South Hill are around 1200 square feet.
  
• These condos are waaaaay too expensive for the size and age. There are a lot of other options on the market that are newer and bigger. And probably less expensive, but they're not as close to the shore or Fairhaven. These condos are selling in less than 4 months on average, and for over 95% of the listing price.

But that walk to Downtown Fairhaven on a chilled winter night for the Art Walk could be worth it.  And the ocean view from your condo that cost $50,000 more than you wanted to pay seems HUGELY daunting.  But over a 30 year mortgage, the difference between a $300,000 loan and a $350,000 loan is roughly (roughly, twice for the math crowd) a $300 difference a month in your payment.

Broken down over 30 days, that's $10 a day more for waterfront.   For those in Washington, that's two lattes and a tip for the happiest barista you've ever met.

Labels: Fairhaven Condos, Fairhaven Homes, Fairhaven Waterfront

Labels: Fairhaven Condos, Fairhaven History, Fairhaven Real Estate

Picture looking at a list of your favorite albums/CD's/8 Tracks (what ever age or level of technical ineptness you find yourself currently). There's the one you ALWAYS talk about, always are telling friends about, always the one you go to for the peace, the celebration of it.

If all the hamlets that made up Bellingham were your music collection, Fairhaven tends to be that album we're asked about when people look for homes in Bellingham.
Fairhaven's edges blur into the surrounding neighborhoods of South Hill, Edgemoor, Happy Valley, and Chuckanut, but the feeling of when you know you're in Fairhaven is quite visual. It's the Firehouse Cafe , converted, and home to a great performing arts venue. Coming up over the hill, and seeing the Ferry Terminal, past the homes that, of late have been selling in less than 60 days (over 60%).

And if ever there were parallels, adages, or parables to be pulled from the draw, the magnetism of Fairhaven, they'd have to be regarding the line a mile long to get in, to breathe in part of Whatcom County that really put our mecca on the map here. It's the festivals, the art boutiques, the Chrysalis, the view of the San Juan's, the cheap seats for watching how the Bellingham Marina is going to turn out, the perch you can forecast how the wind is going to treat the Lummi Ferry this time around.

Your options are endless. Which is sadly where the analogy ends for Fairhaven and Real Estate. Currently there are less than 10 homes, and less than 40 condos on the market through the Northwest Multiple Listing service, though more are making their way onto Craigslist, as are more sellers looking to try their hands at a tough profession at this date. The number of rentals in the area is growing strictly from the fact that though the prices of homes at this point are low, as are interest rates, the uncertainly of the future and the melee strewn across the front page of every paper reports a national slowdown.

Labels: Fairhaven Condos, Fairhaven History, Fairhaven homes for sale, Fairhaven Sales Numbers, Historical Fairhaven