Dale's Blog

Wine Tasting Networking Event In Bellingham Washington

2007-09-13T12:15:38Z

Thursday September 27th from 6-8 pm, come network, taste great local wine, and have a great time. Whatcom Winemakers, a local business located at 130 E Champion St in downtown Bellingham, between Cornwall and Railroad Ave, will be hosting the event. There will be great opportunities to network, win prizes, and taste great wine made right here in Bellingham, Wa. The even is sponsored by the Hilltop Restaurant, Moss-Adams and the Whatcom Young Professionals. For more information contact Dale Serbousek at 360-201-7717.

Bellingham Real Estate Investing Can Be Profitable

2007-09-13T11:52:22Z

With its beautiful shoreline, lush fir forests and stunning Cascade Mountains Bellingham, WA real estate is certainly outstanding property to consider investing in. Prices on land and homes have risen in the Bellingham Bay area during the last several years making it a little more difficult to find affordable housing for the average person. Because of this, many first time homeowners as well as investors sometimes turn to the foreclosure market in Bellingham, WA.

Although the Bellingham real estate market has not been hit with an unusual amount of foreclosures compared to many other parts of the nation, there are still an abundance of opportunities to find that steal of a deal. Everyone should realize that investing in Bellingham real estate or foreclosures is not "amateur night." It can be risky. You must do a tremendous amount of homework and know what you are doing. It's usually best to have a qualified real estate broker or real estate attorney represent you in this endeavor.

You can minimize your risks in the Bellingham real estate market

If you want to buy foreclosure properties in Bellingham, WA, you must know how to find the potential property and access its value. You must know how to carefully research and inspect the property, so you don't get stuck holding a money pit - or ever worse, a totally worthless piece of paper. You must also learn how to deal with home owners, how to bid on property and how to buy well below the market value so that you can sell for maximum profit.

Do your homework and learn how to:

•· Research property titles, mortgages and deeds

•· Obtain financing

•· Avoid the most common pitfalls

Good and bad candidates for buying foreclosures

Investing in foreclosures in Bellingham, WA is not right for anyone who is currently having financial problems and is hoping a foreclosure will bail them out. This is not easy money regardless of what the late night infomercials may say.

Foreclosures in the Bellingham real estate market can be very right for a person who has a ton of cash, a steady job, a reliable cash flow or a financial backer. A backer can be anyone from a business partner to your grandmother. If this is something you really want to do, you can always find sources for investment capitol.

What kinds of things do you look for as a Bellingham real estate foreclosure investor?

Lots of things, from top to bottom and inside and out. Look at cracks in concrete, windows, roof, and doors - look at everything. Foreclosures aren't always in top-notch condition. The owners may not have been able to afford to keep up maintenance. If you can't hire a professional home inspector in Bellingham, WA, do what you can by inspecting the property yourself from all angles outside.

Things to avoid when investing in foreclosures in Bellingham, WA

Buying from long distance, in a distressed neighborhood, preconstruction projects and avoid buying from anyone that promises you cash back at closing. This is totally illegal.

Types of Foreclosures in Bellingham real estate

Many aggressive investors go after foreclosures when there is a downturn in the housing market. Foreclosures are homes that people have lost because they didn't pay their mortgage payments or property taxes.

Pre-foreclosure: The owner has missed three or more payments and the lending bank has started foreclosure proceedings.

Foreclosure Auction: The home is released to the mortgage company and they can arrange an auction.

Real Estate owned properties (REOs): Real Estate Owned by the lender, this status indicates the lender or bank now owns the property as a result of a foreclosure .

Each of these types of foreclosures offers its own particular unique opportunity for the investor. In Bellingham real estate, the homeowner can still list the property as a "short sale." This is where the bank will consider offers that will not pay off the mortgage in full. The bank will forgive the difference owed because it will be less of a loss than if the bank had to go through all of the steps of foreclosure --- foreclose on the property, prepare it for a sale and then resell it at a later date.

Most Bellingham real estate investors know they can often buy these homes for 15-20% less than market value. If the property goes through full foreclosure, the bank will either place it up for auction or list it with a good real estate agent. If the property goes to auction on the courthouse steps, bidding is usually extremely competitive, but it is here that investors often have the opportunity to make the largest profit.

The earlier you buy in the process, the better the opportunity of making a good profit. You must know the current value of the property, the elements of time and market cycles. If you have to make repairs, you must know how to figure your rate of return and in what time frame. If you have the necessary skills and qualities it takes for investing in Bellingham real estate and foreclosures, it can indeed be a very profitable investment.

For more information on Bellingham real estate and investing in foreclosures, visit the Whatcom County's Website. They even give free seminars for interested forclosure investors.

http://www.co.whatcom.wa.us/treasurer/auctions/auctions.jsp

Bellingham and Whatcom County Real Estate Market Reports

2007-09-13T11:49:48Z

For information about Bellingham Washington Real Estate market conditions, as well as Whatcom county real estate market conditions, view the BellinghamSelect.com market reports at www.BellinghamSelect.com/newsletter.html.

The real estate market in Bellingham Wa and the surrounding areas is a rapidly changing environment, ripe with opportunities...both good and bad. Understanding what the market is doing on a consistent basis is crucial to making good decisions when buying and selling. The general public can look at what properties are for sale, as well as what has recently sold, but knowing what properties are pending is information only a Relator can provide; furthermore, pending properties are the most important info when knowing what the market is doing at this particular moment.

Even when one has access to the pending data, proper interpretation is crucial. Terms like "absorption rate" and "months inventory" are ways that the market can be analyzed. More information about how to look at these factors can be found at www.BellinghamSelect.com, or by calling Dale Serbousek at 360-201-7717.

YMCA Gym Membership -How many times did you use your gym membership in the past year?

2007-09-05T13:23:00Z

The YMCA new and updated magazine is out for the fall 2007. Are you a YMCA member? Tell us pros and cons experiences with the Y. And how many of you actually use your membership? My husband and I just joined with the best intentions of getting in fit. We were so excited of all that they have to offer, like a pool, weight room, open Basketball/Volleyball gym time, not to mention all the classes you can join with the discounted membership fee. And all this for the very affordable price of only $25.00/mo for each of us. However, we've had the membership now for two weeks, my husband has not been once and I'm ahead by a whooping 3 visits to the gym! What I have learned from this so far is that when getting a membership; make sure to not take on any more than I can chew. I either have to make the time and notice "have to" is the key, or do something that I will be able to do. So now I'm thinking about possibly buying a treadmill at the second hand-store and setting it up in my leaving room. And I say second hand-store, because this is a great way to try something out without loosing a lot of money in case it just ends up sitting there in my living room watching me watch t.v. All in all I'm curious to see if my husband and I are the only ones encountering the problem of getting a membership (to any place) and not having the discipline or just having underestimated how much time out of the day it would take to be part of it. Are there many of you out there with this same problem and what did you change about it, your membership or your schedule?

Posted by: Johanna Serbousek

How many of you use Top Producer within your team structure?

2007-08-31T23:11:09Z

This post is specifically for those who use Top Producer in the context of a small team. Teams of 2 to 15 members are becoming more popular, especially with the business of real estate becoming more complex. Usually there is a lead agent...or a rain maker. Next, there are often 1-2 administrative assistants, a marketing specialist, transaction coordinator, buyer specialists, and listing specialists. Amongst all these job duties, a product like Top Producer allows everyone involved in the transaction to communicate effectively.

I currently have 2 Realtors, a transaction coordinator, and an administrative specialist. I recently added the second Realtor and I am having trouble deciding how to set up my TP action plans. I currently have an expired plan, but I am not sure if I should have each agent mail out letters and emails under their own names, or if I should still have the letters go out in my own name...as the rain maker.

Any thoughts? How do you set up action plans for use within a team structure?

How long does it take to become an expert in any field?

2007-08-28T23:46:58Z

I have a subscription to Harvard Business Review. I was recently reading an article about what it takes to be an expert in any given field. While many may argue what the definition of an expert is, one thing is for sure, we seem to know when we are talking with one. This goes back to the basic idea that perception is reality. What I may consider as expert material, another may brush of as mere mediocrity.

According to the brainiacks at Harvard, expert realm requires one to be a student for at least 10 years in any given field. 10 years! That mean a wee babe such as myself at 32 years old...has at least 7 more years before I can claim to be an expert (I started real estate at age 29).

Being fully aware of the reverse age discrimination that can be prevalent in the real estate industry, I jumped on the designation-junkie band wagon, and have already received my ePro, ABR, GRI, and CRS is my first 3 years as a Realtor. Has this helped me? For sure. I am crazy in that I have attached each of my pins to my name badge...making it quite weighty; however, when I go to classes, conventions, or meeting, people stare, and admire my "bling". For those of you who have seen the movie Office Space, Jennifer Aniston forever immortalized the power of bling and flair when it comes to shiny metal on our garments.

So, in saying all this, Do you think bling, points os flair, and designations can actually contribute to your bottom line? It has to mine. Have I earned more GCI than the thousands of dollars I have spent on getting the "bling"? Probably. My wife has questioned the need for me to be gone for at leat 20 nights; however, she never complains when she gets to buy a new outfit because I closed 3 transactions last month.

Get some designations. You will make more money. You will feel more confident when you are at your next listing presentation. You will soar above the old-timers who have the respect of the "old guard", and sellers will look to you for help getting their home sold. After all, sold properties will put cash in your pocket...justifying all those crazy designation classes and endless nights studying for the next CRS class while sipping Grey Goose martinis while in Las Vegas at the ProAct training classes. Cheers...with the CRS, you will be making 4X the average Realtor!