Why is Whatcom County one of the best places in America to buy real estate right now? 

   In October 2008 Forbes magazine rated Seattle as the #1 city for commercial real estate investing.  This was based several criteria including the fact that apartment vacancies are low and new construction is slow.  The best cities for investment are also those that are considered gateways to international investment and have vibrant downtown areas.  Like Seattle, Whatcom County is also a gateway to international investment.

   In addition to encouraging national news about our area, let's take a look at some other facts.  Bellingham and Whatcom County are comparitively growth restricted.  Although there is some development in progress we are not experiencing the sprawling growth that other areas have experienced.  Price is a result of supply and demand.  As new homes are built, the supply goes up and keeps prices down.  In our area, getting building permits and short plats has not been the easiest process.  This keeps the supply limited and values stable.  Even though there are still plenty of area to build, Whatcom County is generally resistant to sprawl.

   In just over a year, Bellingham and Whatcom County will have the national stage.  The 2010 Olympics are in Vancouver BC and Whatcom County is the closest place in the USA to all the action.  Vancouver will see extensive worldwide news coverage and millions of people are sure to hear more about beautiful Bellingham just 50 miles south.  Salt Lake city experienced a real estate boom in the years following the 2002 Olympics but the difference in 2010 is the internet.  Information moves so much faster and easier these days thanks to the internet.  People are blogging and sharing content on the internet like never before.  In 2010, Whatcom County will share the world stage along side our northern neighbor.

   Bellingham continues to rank as a top retirement community in the nation.  In 2003, AARP ranked Bellingham as #2.  People are moving to town.  The population of Bellingham grew 11.6% between 2001 and 2006.  People keep moving here because it's such a great place to be.  With more people coming to a growth restricted area, the supply will not keep up with demand and prices will rebound.

   Another factor making this the perfect time to buy is interest rates.  Rates are still low.  Although qualifying can be more challenging than a few years ago, there are still a lot of great loan programs out there.  The new rural housing program has low down payments and no minimum credit scores for Whatcom property outside the city of Bellingham.  First time home buyers and new families are getting great deals on homes right now.

   If you still aren't convinced that now is the time to buy, let's take a look at one more factor.  Right now is a tough time to sell.  Prices have been coming down and we've seen price reductions in many areas.  Homes are staying on the market longer.  Unfortunately, sellers are not enjoying it but it creates a great opportunity for buyers.  Right now, buyers have the negotiating power.  Sellers who need to sell now are quite flexible.  Take advantage of the opportunities today and buy now. 

   Of course Bellingham is a beautiful place.  Except for the metro living, we have it all:  The mountains, the water, the islands, beautiful views, city life, country living, skiing, hiking, and boating.  Why wouldn't you want more real estate in this area?

   Call now and start shopping for real estate.  It's a great area - and the perfect time. 
   Mike Swanson: 360-319-7391