359 S Forest St Bellingham, WA

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Discover the beauty and charm of this historic home located in Bellingham's prestigous community of South Hill. Stunning Bay and Island views await you in this professional and impeccable restoration. Everything is new, or updated, yet it retains its original character. The spacious, open, kitchen features upgrades of cherry cabinetry and granite countertops. The flowing floor plan makes this a great home for entertaining. Enjoy your own, private retreat, in the 3 room master suite w/ view deck, jetted tub, master bath view skylight and sitting room. A separate 22 feet by 26 feet, carriage house, offers parking for 2 as well as an unfinished, spacious, view loft. The distinctive architectural detail in every room, the careful restoration and the stunning views, set this home above the rest!.

MLS# 9150 $649,000 3 Bed, 2.75 Bath 359 S Forest St Bellingham WA, 98225 Chris Farkas EXIT REALTY ASSOCIATES 360-756-6500 chris@exitrealtybellingham.com

Chris Farkas www.RealBellingham.com

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Chris Farkas    www.RealBellingham.com

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Chris Farkas    www.RealBellingham.com

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The home buying process is an exciting time, but one that may bring additional responsibilities into your life. Many homes may need renovations or inspections, especially in areas that are susceptible to natural disasters. Having the assistance of an experienced and honest real estate agent will make this process smooth and stress free.

Some older homes may still contain obsolete building materials. Citizens of this great state are striving to move to a green lifestyle, advocating environmentally sustainable methods to be used throughout the state. Building or remodeling your homes with eco-friendly materials can lower utility and water bills, higher real estate value, purer air quality, reduced waste sent to landfills and conservation of natural resources.

Asbestos + Healthy Tips

Asbestos is a fibrous mineral that was used in construction applications for the greater part of the 20th century. Often appearing as insulation, piping, roofing and flooring, homes and buildings could still contain asbestos materials if they were built prior to 1980.

If you locate any suspected asbestos in the home, most experts suggest leaving it un-disturbed until a home inspector can examine your property, take evaluations and determine the safest course of action. Sometimes the best action is no action at all. Disturbing asbestos in good condition may cause its fibers to be released into the air. The removal of asbestos must be undertaken by a professional abatement contractor who is trained in handling dangerous materials.

Exposure to this material can lead to the development of mesothelioma, a lung ailment associated with asbestos exposure. Though a cure does not exist, mesothelioma treatment options such as radiation, chemotherapy and surgery may be available to patients to battle the disease. Mesothelioma compensation has become tough to predict for victims and their families because diagnosis can take 20-50 years. For this reason, many people refer to it as a silent killer.

Removal of asbestos in public facilities, workplaces and homes should be performed by licensed abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants (NESHAP) are not violated. They must wear protective equipment such as masks and gloves to avoid any exposure. The materials should be removed in as large pieces as possible and places in disposable bags.

Green Building Benefits

Each and every human being would like clean air to breathe and crisp water to drink. It takes a lot of effort and political advocacy to achieve this on a macro level. The implementation of eco-construction, green energy solutions will play an important role in the transformation to a healthier and sustainable world. Many locations throughout Alabama are swiftly changing their construction practices to suit the environment and the health of human beings.

There are many green, eco-friendly materials that replace the need for asbestos and can reduce energy costs annually. These include the use of cotton fiber, lcynene foam and cellulose. Cotton fiber is quickly becoming a favorite for home builders and renovators. Made from recycled batted material, it is also treated to be fireproof. Research has demonstrated that the use of eco-friendly insulation alternatives can reduce annual energy costs by 25 percent.

Implementing green methods of building can have positive environmental, health and economic benefits. These include: Conservation of natural resources, enhancement of air quality, energy sustainability, increase property value, improve quality of life, improvement of pulmonary/cardiac health and reduction of waste.

Chris Farkas 

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"Mortgage interest rates last month were the third lowest on record dating back to 1971," according to Lawrence Yun, chief economist for the National Association of Realtors. In November, Freddie Mac reported another decrease in the 30-year rate to 4.83 percent. "With the abnormal drop in home prices over the past few years, the price-to-income ratio has fallen below the historic trend line," Yun said. “This is adding to the buying power of the typical family, with affordability conditions this year at the highest on record dating back to 1970, but prices are beginning to flatten and are poised to rise next year."

Chris Farkas

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The National Association of REALTORS (NAR) reported a 10 percent increase in existing home sales, while inventory fell 3.7 percent. Existing homes sales are on pace to reach 6.1 million units by year's end, are up over 23 percent from the same time a year ago.

Much of the recent activity was sparked by first time buyers looking to take advantage of an $8,000 tax credit, which was initially due to expire at the end of November. NAR expects market demand to remain strong as the tax credit program has been extended and expanded through April 30.

Current inventory levels in all price ranges have dropped to 3.57 million units nationally, creating a 7-month supply. "Low-end inventory has become very tight in many areas and in some cases buyers are becoming more aggressive," explained NAR president Vicki Cox Golder. Multiple offers are not uncommon in the lower price ranges, and foreclosed properties are selling more quickly.

Chris Farkas

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The Extended Home Buyers Tax Credit offers current homeowners and first-time home buyers alike an incredible tax-saving opportunity when they buy a home through April 30, 2010. Here are the details:

First time buyers, who haven't owned a primary residence in the past three years, are eligible for a tax credit of 10 percent of a home's purchase price, up to a maximum of $8,000.

Current homeowners, who are vacating a principle residence that they have lived in for 5 of the past 8 years, are eligible for a tax credit of 10% of a home's purchase price, up to maximum of $6,500.

The following conditions apply:

• Full tax credit is available to buyers earning up to $125,000 a year, or $225,000 for married couples filing jointly
• Partial tax credit is available to buyers earning between $125,000 to $145,000, or for married couples earning between $225,000 to $245,000
• The tax credit is only awarded on homes purchased for $800,000, or less
• Under the rules, as long as a written binding purchase contract is in effect on April 30, 2010, the buyer has until July 1, 2010 to close

The tax credit is a dollar-for-dollar reduction in the buyers tax liability, and does not have to be paid back as long as the buyer remains in their home for three years or more. This is a once-in-a-lifetime offer to have Uncle Sam help you buy a house. Don't let this opportunity pass you by!

Chris Farkas

Please watch my new TV Show on YouTube
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The first step is to find out what mortgage interest rates are at the current time. You can typically do this with a couple of phone calls to lenders or some quick searching on the internet. Get your rates on conventional fixed rate loans.

To obtain a very clear picture of how much home you can actually qualify for, the best idea is to contact a reputable local lender and let them analyze your entire situation. The lender can calculate your income-to-debt ratio, do a quick credit score and give you the information you need. Typically, lenders like to see a ratio not exceeding about 28%. This does not take into consideration long term monthly debt. As an example, to qualify for a loan, lenders may require ratios of 28% or 36%. This means you can spend up to 28% of your gross monthly income on a motgage payment, and no more than 36% of your gross monthly income on all forms of debt, mortgage included.

We work with a number of loan officers and would be happy to recommend one right for you. Click here to contact us today. We are happy to help!

Chris Farkas

Please watch my new TV Show on YouTube
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EXIT Realty Associates
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Chris Farkas

Please watch my new TV Show on YouTube
Check out my TalkRealty Podcast
          

EXIT Realty Associates
Email List Of Homes
Bank Owned Homes
Stop Foreclosure
FSBO Assistance

View Sample Market Report

11 Great Reasons To…
LIST YOUR HOME DURING THE HOLIDAYS!

1 People who look for a home during the holidays are more serious buyers.

2 Serious buyers have fewer houses to choose from during the Holidays and less competition mean more money for you.

3 Since the supply of listings will dramatically increase in January, there will be less demand for your particular home. Less demand means less money for you.

4 Houses show better when decorated for the Holidays.

5 Buyers are more emotional during the Holidays so they are more likely to pay your price.

6 Buyers have more time to look for a home during the Holidays than during regular weekdays.

7 Some people must buy before the end of the year for tax purposes.

8 January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until spring to buy, you must be on the market during the Holidays to capture that market.

9 You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays.

10 You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.

11 By selling now, you may have an opportunity to be a non-contingent buyer during the spring when many more houses are on the market for less money! This will allow you to sell high and buy low.

Chris Farkas

Please watch my new TV Show on YouTube
Check out my TalkRealty Podcast
          

EXIT Realty Associates
Email List Of Homes
Bank Owned Homes
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View Sample Market Report

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.