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August/September 2009 |
FYI...What is a 1031 Exchange?
 Section 1031 of the IRS code lets you sell a property and buy a new property without paying any taxes but you must use an accommodator to comply with the rules. 1031 Exchange types include; The Personal Property Exchange, The Improvement Exchange, The Reverse Exchange and The Delayed Exchange. The Personal Property Exchange allows investors to exchange either like-kind real or personal property for other like-kind real or personal property. The Improvement Exchange allows an investor to use exchange proceeds to either (1) make an improvment to an existing property or (2) build a new replacement property. The Reverse Exchange is the purchase of the replacement property prior to closing on the relinquished property. The Delayed Exchange is the most common exchange format, providing investors the flexibility of up to a maximum of 180 days to purchase a replacement property. To say it in simple terms, sales are taxable with the IRS and 1031 exchanges are not. |
Visit Our Resource Center
On Our Website you will find more market information including...
The Rules of 1031 Exchange, Exchange Type Details and More!
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**Reminder**
Interested in the $8,000
First Time Homebuyer's Tax Credit?
Learn More About the First Time Homebuyer's Tax Credit |
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Community Update: Lummi Island
Lummi Island is located near Bellingham (Whatcom County), it is served by a small county ferry which makes the scenic, six minute crossing at least once an hour until mid-night. It is just two hours from Seattle, and one and a half hours from Vancouver, BC. On this wooded, rural island you can still enjoy unspoiled natural beauty. It is graced with tranquil beaches and 18 miles of quiet, country roads ideal for biking, bird watching, or hiking. View All Lummi Island Real Estate
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NWMLS Stats: August 2009
Northwest Multiple Listings
Whatcom County
Closed Sales Report - Residential
870
Residential Units Average Price Median Price
24 $299,575 $280,500
Click Here to View Archived Statistics on all of Whatcom County |
 
XX Bayview,
Blaine WA
$375,000
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3016 Maplewood,
Bellingham, WA
$289,900
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2622 Superior Street,
Bellingham, WA
$215,000
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4927 Richie Lane,
Blaine WA
$159,900
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30XX Maplewood,
Bellingham, WA
$89,900
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3XX W Alder Dr,
Sedro Woolley, WA
$29,900
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Economic Update: September/October 2009
There continue to be signs of life out there in the mortgage business:
Housing Wire reports that an investment fund will be starting soon to provide upfront cash to home buyers in exchange for a stake in the future value of the property. This sounds very familiar to the old Rex & Co.'s business plan. "Buyers Equity Fund will provide buyers with up to 15% of the home's purchase price in cash as an equity sharing payment, the firm said in a release. Properties must be pre-qualified before the sale is complete to be eligible for the fund, but the agreement with the fund isn't consummated until after the home sale transaction is complete." If at the time of sale, the property hasn't increased in value, the borrower isn't responsible for the repayment; if it has gone up in value Buyers Equity Fund receives a chunk of the appreciation.
Yesterday, once again, both stocks and bonds rallied. We were helped, in part, by a decent $12 billion 30-yr auction by the Treasury. The bid-to-cover ratio was 2.92, with an indirect bid of over 46%, judged to be strong results. On top of that, Treasury Secretary Geithner was in the news suggesting that as they see signs of strength, the government will not be hesitant in reducing its role in the markets. In addition, he said that unemployment is still too high, but that the recovery will be gradual. Fannie 4.5% securities, which contain 4.75-5.125% mortgages, are being bought and sold in the secondary markets at a price above 101! When you add a point or two of servicing on top of that, yahoo! This morning we find the 10-yr down to 3.33%, and mortgages roughly unchanged from Thursday afternoon but better than Thursday morning.
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." |
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Monthly Payment Rate Sheet
Based on a Purchase Price of $250,000
30 Year Fixed:
Payment $1,043.29
Points 1.25%
% Down 20 %
Rate 4.75%
APR 4.995%
15 Year Fixed:
Payment $1,504.56
Points .875%
% Down 20%
Rate 4.25%
APR 4.609%
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." | |
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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 |
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September/October
Upcoming Events!
September 16th - Wine Crush and Taste
September 19th - Bellingham Traverse
September 19th - Fairhaven Fall Salmon BBQ
September 24th - Lewis Black: Let Them Eat Cake
September 27th - Bellingham Bay Marathon
October 3rd - Cloud Mountain Fruit Festival
October 9th - Octoberfeast, Beer Tasting
October 10th - 101 Years of Broadway
October 15th - Release of Whatcom Real Estate Monthly
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BuyerMax Videos!
BuyerMax Has A Blog!
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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
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