|
|
 |
|
|
August/September 2009 |
FYI...Title and Escrow: How Does It All Work?
In a typical real estate transaction, an escrow account is opened shortly after a purchase and sale agreement is signed by the buyer and seller. The buy-sell agreement spells out the terms  of the transaction, including the price and to whom funds are to be disbursed.
An escrow agent, who is usually an attorney or officer of a title insurance company, accepts money into the escrow account from the buyer and the buyer's lender, then disburses the funds according to the purchase and sale contract. In addition to distributing funds to the seller, the escrow account is used to ensure that all material items associated with the transaction, including loan fees, title insurance and deed transferal fees, are paid. The escrow is said to close when all terms of the agreement are carried out and all funds are disbursed.
|
|
Bellingham Title and Escrow Companies
Chicago Title - 1616 Cornwall Avenue, Bellingham - 360.734.7000
Stewart Title - 2200 Rimland Dr, Bellingham - 360.647.8155
Whatcom Land Title - 2011 Young St, Bellingham - 360.676.8484
First American Title - 11 Bellwether Way, Bellingham - 360.733.5320 |
Visit Our Resource Center
On Our Website you will find more market information including...
The Steps of Title and Escrow, Different Homeowner's Policy Options and More!
|
|
Want to Learn More?
If you would be interested in attending an informational meeting regarding Title and Escrow options please let us know! We are trying to find a date that works best for you, so please email us what date and time might work best with your schedule.
We hope to help navigate you through the real estate industry.
|
|
Community Update: Lynden
Lynden, Washington is home to the state's largest Dutch community, which proudly displays its heritage with Dutch-theme shops and windmills. Lynden, Washington is one of the more unique tourist destinations in the Pacific Northwest. Lynden is located about 20 miles north of Bellingham, Washington on the Guide Meridian Road. Guide Meridian is a major thoroughfare of traffic traveling between Bellingham - Interstate 5 and Aldergrove British Columbia.
|
NWMLS Stats:
Northwest Multiple Listings
Whatcom County
Closed Sales Report - Residential
Residential Average Price Median Price
13 Units Sold $278,812 $268,700
Click Here to View Archived Statistics on all of Whatcom County |
 
126 W Main Street,
Monroe, WA
$599,900
|
 
5935 Artist Drive,
Ferndale, WA
$399,900
|
 
2877 N Nugent,
Lummi Island, WA
$248,500
|
 
712 El Camion Way,
Lynden, WA
$220,000
|
 
4943 Forsberg Dr,
Blaine WA
$180,000
|
 
8274 Golden Valley Blvd,
Maple Falls, WA
$135,000
|
| Recently Reduced!
8575 Ginkgo Drive, Maple Falls 3 Bed - 2 Bath - 1344 SQFT $79,900 Virtual Tour7139 Bartlett Lane, Lynden 4 Bed - 3.75 Bath - 4452 $467,500 Virtual Tour
1212 Birch Falls Drive, Bellingham 3 Bed - 2.5 Bath - 2100 SQFT $419,900 Virtual Tour
2159 Buchanan Loop, Ferndale 9.48 Acres - Zoned Light Industrial $2,064,000 Virtual Tour |
|
Economic Update: August/September 2009
According to the MBAA, mortgage applications in the U.S. fell last week by 3.5% due to slightly higher rates. Refinancing was down a little over 7%, but purchases were up about 1%.
Some originators don't remember the last time that they did a non-government loan. In recent months, the growth of FHA-insured mortgages has raised some eyebrows. The FHA now insures $560 billion of mortgages, four times the amount that they did only 3 years ago. Many agents and brokers view FHA as replacing the subprime or Alt-A loans that they processed previously. This is unfortunate for taxpayers, especially since these loans typically have low down payments (3.5%), and the borrowers often have below-average to poor credit ratings, leading critics to point out their riskiness. And given the huge volume increase, is fraud being adequately protected against?
Are you being productive at your job? If the answer is "yes", join the crowd: Productivity here in the US was up over 6% during the 2nd quarter, while unit labor costs actually fell almost 6%. So, if the same amount of work is being done in less time, and for less money, that is a good thing, right? It certainly keeps inflation down, and over the long run productivity is key to improved living standards by increasing output, employment, incomes and asset values. In other news, typically not market moving, wholesale inventories were down for the 10th month in a row, although sales were up slightly. That news wasn't huge, but once the $37 billion 3-year Treasury auction went off well, we saw a nice improvement in rates.
Anny Havland
Neighborhood Mortgage
License # 510-LO-35892 Co-owner/Licensed Mortgage Advisor 360-594-4030-Direct 360-671-8043-Fax "Cheers to continued great lending rates." |
|
Monthly Payment Rate Sheet
Based on a Purchase Price of $250,000
30 Year Fixed:
Payment $1,073.64
Points 1.375%
% Down 20 %
Rate 5.00%
APR 5.275%
15 Year Fixed:
Payment $1,517.24
Points 1.125%
% Down 20%
Rate 4.375%
APR 4.799%
Comments & Explanations:
Let me compete for your business. Payments do not include homeowners insurance and property taxes. Loan Originator License # 510-LO-35892. To apply online visit me at www.neighborhoodmortgage.net/anny
* Please note that this illustration requires that you put a minimum 20% down. No ARMS or Balloons. Only conforming 30 Yr. Fixed Rates. This information is provided for illustration only and does not constitute an application does not guarantee loan approval, nor is it an offer or commitment to make a loan to you on the above terms. This is not a commitment or an offer to extend financing as defined by Federal Reserve Regulation Z - Truth in Lending and as such does not contain an APR. Interest Rates are subject to change daily without notice and will affect the loan amount for which you may qualify
Anny Havland
Neighborhood Mortgage
License # 510-LO-35892 Co-owner/Licensed Mortgage Advisor 360-594-4030-Direct 360-671-8043-Fax "Cheers to continued great lending rates." | |
|
|
Market Snapshot
Determine Your Property's Value by Evaluating Other Sold Properties in Your Neighborhood.
Click Here to Receive Your Own Market Snapshot for Your Property... |
Listing Alert
Would You Like to Receive New Listings Matching Your Search Criteria? Click here |
S.W.I.N.G. FORE Miracles Kids Golf Tournament
Sunday 13th, 2009 - Lake Padden Golf Club
Children's Miracle Network's mission is to generate funds and build awareness programs for the benefit of children served by Seattle Children's Hospital. |
|
August/September
Upcoming Events!
August 15th - The Guess Who Concert
August 16th - All Corvette Show & Shine
August 22nd - Fairhaven Outdoor Cinema - Vicky Chirstina Barcelona
August 29th - Fernadle Street Festival
August 29th - Fairhaven Outdoor Cinema - The Princess Bride
September 11th - Discover Bellinghham VolksFest
September 12th - Fairaven Runners Waterfront 15k
September 13th - S.W.I.N.G. FORE Miracles Kids Golf Tournament
| |
BuyerMax Videos!
BuyerMax Has A Blog!
Follow Us On Twitter!
|
Thank you for taking the time to view Whatcom Real Estate Monthly.
To view our newsletters online please visit www.WhatcomRealEstateMonthly.com. Our goal is to keep you informed on the most up to date Real Estate information available. If you have any questions about information represented in this version of Whatcom Real Estate Monthly or have topics you would like to learn more about relating to the current Real Estate Market. Let us know!
Sincerely,
Keith Cook and Rachael Wilson
| |
|
|
|
