The Gardner Report: Q3 Market Snapshot
Whatcom County Real Estate Market Snapshot
As compared to Q2 average sale price dropped Year Over Year just under a percent but the average sales price in the 3rd quarter is up about $11,000 from quarter 2. List to sale time is right about the same and so is average price per square foot.
It’s always impressive to me to notice the different in total sales from the second to the third quarter- almost triple the amount of homes sell in the 3rd quarter than the 2nd!
Inventory is up about 60 homes from Q2 and, surprisingly, down almost 16% from Q3 last year.
Want the full report from Matthew Gardner? Download it here!
How to Pick Exterior Paint Colors
Have you ever struggled with what color to paint the exterior of your home?! Guess what? You aren’t the only one! I’ve been getting asked for suggestions on how to start this process a lot lately- so here you go! Here’s my system for outside and maybe, just maybe I will have a special guest tell us how to approach the inside walls of a home.
How to select paint colors for the EXTERIOR of your home:
- Make a list of new construction neighborhoods around town (not sure? I can pull you a list of new construction in Bellingham), grab the person who you have to agree on this decision with, and a pumpkin spice latte (sorry, I couldn’t resist) and hop in the car!
- Drive through these neighborhoods and point out the ones you like the colors of. Find a few you agree on and then take a few photos of them (make sure you write on your list the address of the homes you are taking photos of – and the color next to it… I’ll come back to this later). Keep in mind your style of home. If you need 3 paint colors (house, trim and an accent color) look for other homes that are using the same number of colors. Many homes in the Bellingham area are craftsman style with shingles and natural wood posts. You may have to consider stain colors for any wood elements as well.
- Bring those photos home and PRINT THEM. I know, weird to think you’d print a photo in this day and age. If its been a while since you’ve printed one and you get stuck on this step, just upload to your closest @walgreens and pick up in an hour!
- Take those printed photos outside, stand on your street and hold them up so you can see the colors and your home in the same line of sight. Order them by your favorites.
- Now, go for a walk. Walk both ways down your street and make sure that that color won’t be a total eye sore with the surrounding homes. If for some reason #1 doesn’t quite work with the neighbors, then consider #2!
- Alright, now you have decided on a color and possibly a trim color-so you might be thinking how do I know what color it actually is?! Guess what-there’s an app for that! Most major paint brands (for sure Sherwin Williams, Behr and Benjamin Moore) have an app that you can use to take a photo of a color and it will identify the hue and pick the closest shade in that brand. It’s not the smartest idea to use the app to take a photo of the printed color- so go back to your list and drive to the home you wrote the color you chose next to and get as close as you can to the house without being a weirdo and use the app to identify the color! If you took your picture from new construction, you may also be able to contact the builder to get the exact color codes for the paint.
Before you paint, if you’re part of a home owner’s association, have your association review your paint colors to make sure there are no conflicts with your HOA rules.
Happy House Painting!
Client Appreciation Cruise
On Thursday, August 16th we invited our clients and friends on a 2-hour cruise around the bay. We had delicious food, good drinks and even spotted some whales! We loved getting to see everyone who has believed in us and helped us grow the past 2 years. Click on the button below to view all the photos taken by Dawn Matthes Photography. You will need to enter your email address in order to view the photos. No password is needed.
Quarter 2 Market Snapshot
It is no secret that the real estate market in Whatcom County is red hot! If you’re wondering what the market looks like now in comparison to a year ago, take a look at the image below. The ongoing trend remains that inventory is low. If you’re thinking of selling your home, now might just be the perfect time to do it!

Key statistics from the Q2 Market Snapshot:
- Average sale price: $415,000 (+13.7% over last year)
- List to sale time: 36 days
- Average price per square foot: $222
- Total Q2 sales: 343 (down 5.5%)
- Number of homes for sale: 619 (down 15.2%)
Throughout the Summer – Keeping Cool
Man it’s HOT out there!! What are you doing to keep your home cool?

The wallpaper beat me, but in the end I won!
How we turned our Bellingham house into our home
Here’s a little story about the time that I accidentally fell in love with accent walls! An accent wall (a.k.a. “feature wall”) is a wall whose design differs from the design of the other walls in the room (thanks Wikipedia for that definition). An accent wall can be made with paint, fabric, wood… even straw (anyone else remember those horrible accent walls gone bad from Trading Spaces??). Chip and Joanna from Magnolia homes and the ever popular reality show Fixer Upper have made wood accent or ship-lap walls all the rage… and I’ll admit, I love them too.
The Problem – Wall paper…so much wall paper
The first Accent Wall I ever did was not exactly planned. My husband and I had purchased this sweet little home in Bellingham, WA. It was in need of some TLC, but we were confident in our DIY abilities. As a real estate agent in Bellingham, I’ve seen my share of DIY gone wrong. I was sure that we could make the seemingly small improvements to make this house our home. Step one was to remove the horrific wall paper from the master bedroom (see image, then shudder).
Have you ever removed wall paper? I had visions of just starting in the upper left hand corner and ripping off long, sweeping pieces of paper. It did not go as planned. After spending a whole day with my sister, covered in sweat, wall paper glue, steam and vinegar I GAVE UP on ever removing this wallpaper from the wall. We had gotten from the ceiling to about half way down the wall removed on the wall across from this one.
Horrible, RIGHT?! This was the master bedroom! The room that is supposed to provide me tranquility and a sense of relaxation. I could not look out past the wall paper to even try and enjoy some of the lovely Bellingham view that room had. I was disheartened; this amazing potential home we bought, was COVERED in 90’s wall paper.
The Solution- Accent Wall #1
Exhausted, that night I took to Pinterest (and a lovely bottle of red wine from a local Bellingham wine shop) and started scheming. On 3 walls, I decided to do a white vertical ship lap look up to a chair rail height (right where we had given up taking off wall paper any further down the wall). And on the main wall behind the bed- We did this:
TADA! Cheap, rough, cedar fence boards. Not just purchased and slapped on- but “cured.” It wasn’t a super fast process; wood you buy from a discount lumber store like Home Depot or Lowes is still full of TONS of moisture. Moisture makes wood swell… so it MUST be dried for two weeks inside the house or you will end up with gaps between your boards after it dries out on the wall. Next, we “3 step aged” the boards (I made that term up, but I will write another post about the process soon) and THEN hung the aged wood on the wall. We LOVED it and I was hooked. Best part- it cost under $200 to do this large wall! We immediately had the rustic, outdoorsy feel that fit with out Bellingham surroundings (if you’ve never been to Bellingham, check out this footage. You’ll see why we love this area. And if you love it too, call me, I’ll help you find a home in Bellingham).
Accent Wall #2 – The addiction grows!
The next accent wall we did was in the nursery of my son’s room. This time we used tongue and groove pine boards. Stained them different colors and topped them with a shelf.
We’ve now sold that lovely home we completely transformed, and I do miss it, A LOT.
Our new project is to turn a “builder grade” house into a HOME- challenge accepted. I believe another Accent Wall is in my near future! Like I said above, stay tuned for a step-by-step tutorial on how to “age” wood (give it that awesome vintage barn-wood look). AND, if I’m lucky there will be another blog in the near future about my first accent wall at our new home.
Inspired?
From the Windermere Blog below you’ll start by learning more about what an Accent Wall is. You’ll also find tips on how to choose a wall, and other considerations to make when you are ready to take one on for yourself!
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(Source: www.Windermere.com/blog)
An accent wall is an emphasized wall in a room that has been designed to attract attention from adjacent walls. The simplest (and cheapest) option to go about an accent wall is by means of paint, though some may opt for wallpaper or tile. Homes with accent walls add a surprise element to a room and define an area of space that deserves attention.
Choosing the right wall
Experts say that the first wall you see upon entering a room is typically the accent wall. In many cases, the wall will have a fireplace or a built-in bookshelf, or something that suggests it is the focal point of the room. In this case, you want to accent that wall by emphasizing the central point with a background color.
Choosing the right color
Color accent walls can add depth and dimension to a room, and make a room seem bigger, warmer, or brighter. If a room is large, consider using warm colors to make the room appear more welcoming, or if the space is smaller, a lighter color can make a room look more spacious. You can visually enlarge or shrink a room by choosing the right color for your room.
Light reflections
Remember to think about how lighting affects the color of a wall. The color you choose may change depending on light sources that reflect on walls. For example, incandescent lights will have a different influence in comparison to natural lighting against walls. Different light sources can affect color choices, so don’t forget to experiment with lighting against colored walls.
Tinting the ceiling
Typically, wonder-walls function independently of the ceiling, as they usually remain white. However, by adding a few drops of the wall color paint to a can of ceiling paint, you are able to slightly tint a ceiling. This subtle color scheme can make for a perfect ceiling finish to compliment an accent wall.
How to do it yourself
Painting an accent wall is an easy home improvement or do-it-yourself project. All that is needed is a short list of low-cost products, including:
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- Painter’s tape
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- Paint (with primer)
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- Tarp
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- Roller and brush
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- Putty and scraper
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- Sandpaper
The directions are simple: tape off the desired wall, spread tarp across the floor, fill any holes or cracks on the wall, sand and smooth out the surface, then paint the accent wall using zigzag strokes.
Painting an accent wall is a great DIY project for anyone to tackle over a weekend or even a few hours. What is your take on the one-wall wonder? Is an accent wall an overstatement, an understatement, or a room well-balanced?
Q1 2018-Western Washington Real Estate Market Update
Source: www.windermere.com/blog

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.
ECONOMIC OVERVIEW
The Washington State economy added 96,900 new jobs over the past 12 months, representing an annual growth rate of 2.9%—still solidly above the national rate of 1.5%. Most of the employment gains were in the private sector, which rose by 3.4%. The public sector saw a more modest increase of 1.6%.
The strongest growth was in the Education & Health Services and Retail sectors, which added 17,300 and 16,700 jobs, respectively. The Construction sector added 10,900 new positions over the past 12 months.
Even with solid increases in jobs, the state unemployment rate held steady at 4.7%—a figure that has not moved since September of last year.
I expect the Washington State economy to continue adding jobs in 2018, but not at the same rate as last year given that we are nearing full employment. That said, we will still outperform the nation as a whole when it comes to job creation.
HOME SALES ACTIVITY
- There were 14,961 home sales during the first quarter of 2018. This is a drop of 5.4% over the same period in 2017.
- Clallam County saw sales rise the fastest relative to the first quarter of 2017, with an increase of 16.5%. In most of the other markets, the lack of available homes for sale slowed the number of closings during this period.
- Listing inventory in the quarter was down by 17.6% when compared to the first quarter of 2017, but pending home sales rose by 2.6% over the same period, suggesting that closings in the second quarter should be fairly robust.
- The takeaway from this data is that the lack of supply continues to put a damper on sales. I also believe that the rise in interest rates in the finalquarter of 2017 likely pulled sales forward, leading to a drop in sales in the first quarter of 2018.

HOME PRICES
With ongoing limited inventory, it’s not surprising that the growth in home prices continues to trend well above the long-term average. Year-over-year, average prices rose 14.4% to $468,312.- Economic vitality in the region is leading to robust housing demand that far exceeds supply. Given the relative lack of new construction homes— something that is unlikely to change any time soon—there will continue to be pressure on the resale market. As a result, home prices will continue to rise at above-average rates in the coming year.
- When compared to the same period a year ago, price growth was strongest in Grays Harbor County at 27.5%. Ten additional counties experienced double-digit price growth.
- Mortgage rates continued to rise during first quarter, and are expected to increase modestly in the coming months. By the end of the year, interest rates will likely land around 4.9%, which should take some of the steam out of price growth. This is actually a good thing and should help address the challenges we face with housing affordability—especially in markets near the major job centers.

DAYS ON MARKET
- The average number of days it took to sell a home dropped by seven days when compared to the same quarter of 2017.
- King County continues to be the tightest market in Western Washington, with homes taking an average of 24 days to sell. Every county in the region saw the length of time it took to sell a home either drop or remain essentially static relative to the same period a year ago.
- In looking at the entire region, it took an average of 61 days to sell a home in the first quarter of this year. This is down from 68 days in the firstquarter of 2017 but up by eleven days when compared to the fourth quarter of 2017.
- Anyone expecting to see a rapid rise in the number of homes for sale in 2018 will likely be disappointed. New construction permit activity—a leading indicator—remains well below historic levels and this will continue to put increasing pressure on the resale home market.

CONCLUSIONS

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. For the first quarter of 2018, I have left the needle at the same point as fourth quarter of last year. Price growth remains strong even as sales activity slowed. All things being equal, 2018 is setting itself up to be another very good year for sellers but, unfortunately, not for buyers who will still see stiff competition for the limited number of available homes for sale.

Mr. Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.
10 Key Qualities to Look for When Selecting an Agent
Source: www.windermere.com/blog
Buying a home is one of the most significant financial and emotional purchases of a person’s life. That’s why it is so important to find an agent that can not only help you navigate the home search process but one who can also answer your questions and represent your needs from start to finish. Most importantly, your agent should care about your happiness and ensuring that you find the home that best fits your needs.
Here are some qualities to consider when selecting a real estate agent:
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- Likable. More than likely, you will be spending a lot of time with your agent, so look for someone that you enjoy interacting with.
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- Trustworthy. One of the best ways to find an agent who you feel you can trust is to ask friends and family for a referral. Another way to do this is to interview different agents and ask for client references.
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- Effective listener. While your agent can’t read your mind, they should be able to make educated recommendations and offer advice by listening closely to your needs. Make sure you talk to your agent about your priorities, what types of features appeal to you, as well as any factors that could be deal breakers. This will arm your agent with everything they need to help find you the perfect home.
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- Qualified and experienced. Make sure your agent has the qualifications and experience to meet your specific needs. For example, some agents have more experience with short sales, while others might be experts on certain neighborhoods or types of housing. Your agent should also be fully trained in contract law and negotiations.
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- Knowledgeable. A great agent is someone who is out in the neighborhoods, exploring communities, visiting listings, performing marketing analyses, and collecting all the information that you need to make an informed, confident decision about your real estate needs.
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- Honest. Your agent should be upfront and honest with you about every aspect of your home search process – even if it involves delivering bad news. The best real estate agents are more concerned about finding the right home for their clients, not just the home that brings in the fastest commission check.
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- Local. Every community is different and all real estate is local, so it’s important to find someone who really knows the local market and can provide you with whatever information you need to familiarize yourself with a particular area.
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- Connected. A well-connected agent will have relationships with lenders, inspectors, appraisers, contractors, and any other service provider you might need during your home search.
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- Straightforward. You want an agent who will work hard to help you find the best home, but you also want someone who will be straightforward with you about the process, the market reality, and what is realistic for you.
- Committed. Your agent should be in it for the long haul, meaning that they’re looking out for your best interests every step of the way, no matter how long the process takes. The best way to find an agent with these qualities is by asking around. In all likelihood, someone within your circle of friends or family will have experiences to share and professionals to recommend. You can also search for agents based on area, so you know you’re getting someone who is knowledgeable about the neighborhood(s) you’re interested in. Click here to learn more about the buying process.
Windermere Foundation Nears $36 Million in Total Donations Raised!
Original Source: www.windermere.com/blog with edited content for Whatcom County by Tracie Gulit- Windermere Whatcom
Why do I love being a part of a company like Windermere? Serving our communities is at the heart of the company! When I receive quarterly updates from the Windermere Foundation it blows me away what type of impact we make. From the Listing Broker and the Buyer’s Broker each time a home is sold a portion of our commission goes towards the Windermere Foundation. Below you’ll find the first quarter of 2018 update for contributions to the Foundation and the numbers are staggering.
I am working on getting an update from Windermere Whatcom on how much was raised just by Whatcom County brokers in Q1 of 2018 and will be excited to report what impacts we made in 2017.
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Thanks to the generosity of Windermere agents and the community, the Windermere Foundation collected over $330,000 in donations during the first quarter of 2018. Individual contributions and fundraisers accounted for 58 percent of the donations, while 42 percent came from donations through Windermere agent commissions. So far, we have raised a total of $35,869,961 in donations since 1989 when the Windermere Foundation was started.
Each Windermere office has its own Windermere Foundation fund account that they use to make donations to organizations in their local communities. In the first quarter of 2018, a total of $521,916 was disbursed to non-profit organizations dedicated to providing services to low-income and homeless families throughout the Western U.S.

One organization that has been the recipient of Windermere Foundation funds is Youthnet, serving Skagit, Whatcom, Snohomish, Island, and San Juan Counties in Washington State. Youthnet provides caring and supportive educational and social services to youth and families to help them attain a productive and successful life.
The Windermere Real Estate/Skagit Valley office in Mount Vernon, Washington has donated a total of $1,500 to Youthnet since 2015. Their support has continued to make a difference to the children, youth, and families served.
Donations have helped Youthnet support clients like Tracey and Tom, who are struggling to care for their three young children because of their inability to find and keep jobs due to mental health issues. Support from donors such as Windermere allows Tracey and Tom to receive resources, parenting support, and guidance to keep Sarah, Suzie and Jimmy well-cared-for. Funding also helps clients like Jennifer, who is finishing high school this year and thinking about going to college. She would be the first one in her family to achieve this goal.
Generous donations to the Windermere Foundation over the years have enabled Windermere offices to continue to support local non-profits like Youthnet. If you’d like to help support programs in your community, please click on the Donate button.
To learn more about the Windermere Foundation, visit http://www.windermere.com/foundation.







With ongoing limited inventory, it’s not surprising that the growth in home prices continues to trend well above the long-term average. Year-over-year, average prices rose 14.4% to $468,312.