Contractor Pricing for YOU!

 

Rainy Weekend Plans?!

Have you been wanting to get some painting done?
I’m excited to extend my personal discount to you!

There’s nothing better than supporting a local business {especially right now- when they really need our support}, getting a great deal, AND unmatched customer service! You can get it all by taking my business card with you in to Stockton’s Paint and receiving their CONTRACTOR PRICING. That’s the best discount they offer!

Don’t have my business card? Send me a text or email and I’ll make sure you get one today! Need to bounce some of your color ideas off of someone?! I’d love to help!

Give me a call at 360.201.6433

And if you take me up on the offer, please tag me @traciegulithomes in your painting project photos on Social Media!


Posted on June 18, 2020 at 5:56 pm
Tracie Gulit | Posted in Buying a Home, Community, DIY, Home Ownership, Tracie's Thoughts |

Current Numbers that Matter – Week 12

Moving On to Phase 2!

Welcome to June! It was announced today that the Washington State Secretary of Health has accepted Whatcom County’s application to move on to Phase 2 of the Washington’s Safe Start Plan. You can read a broad explanation of what that means here, and here are a few key changes:

  • Lets you have 5 people inside household
  • Restaurants can open to 50% capacity (with no bar seating)
  • Real Estate, Nail Salons, and Barbers can open

I will also explain below what that means specifically for my business and the real estate world.

BACK TO THE DATA

New Listings for both 2019 and 2020 increased over the last week: This is typical, healthy trend as we get further into a spring market!

  • 115 → 133 in 2019
  • 69 → 86 in 2020

UNDER CONTRACT

Below is an accounting of all of the active listings on the market in our three major markets along with all of the sales that went under contract from 5/30 to 6/5/20 (pulled around Noon PST) and the percentage relationship between those numbers.

Numbers are still hovering around the same general areas. If I had to guess I would see we will see our Under Contract Sales % creep up as everyone gets more comfortable moving into phase 2!

ADOM

The second chart represents the Average Days on Market (ADOM) for the homes that are currently active and that went under contract between 5/30/20 and 6/5/20. “Days on Market” is how long the home was active on the market before the seller accepted an offer.

As in a normal market there’s some fluctuation week-to-week in the DOM for the under contract sales. It will be interesting to see if the Difference in Days changes at all as we move into Phase 2!

% PRICE DIFFERENCE

The last set of data below is the average prices of the active listings and the average prices of the homes that went under contract last week. What we are mostly paying attention to here is how the % difference is changing from week to week to see how COVID-19 might be affecting the offer price that homes receive.

Yet again, Lynden is having homes go under contract that are priced higher than the average priced active home in the area. Bellingham had some lower priced homes go under contract this week that brought an 11% change!


Posted on June 9, 2020 at 12:17 am
Tracie Gulit | Posted in Market Updates, Tracie's Thoughts, Trends |

Current Numbers that Matter – Week 9

 

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Beginning & Ending on High Notes

Our new normal seems to be becoming less new and more normal, just in time for our Phase 1 to be coming to an end- maybe one more week (at the earliest), and then we move on to Phase 2!

It’s still not business as usual – no open houses, only serious homebuyers touring, all showings by appointment only regardless of occupancy (vacant or occupied), showings limited to two people on a property (broker and client) with proper social distancing, and most everyone is sporting a mask.

*All of the agents at Windermere continue to protect our community through taking extra precautions to safely do business with us! We are wearing masks, gloves, and making sure to wipe down every surface we come in contact with!* 

BACK TO THE DATA

Comparing this last week to the same week last year, we are just under half the amount of New Listings for Whatcom County.  Considering everything going on this year, 65 in a week is not terrible.

UNDER CONTRACT

Below is an accounting of all of the active listings on the market in our three major markets along with all of the sales that went under contract from 5/9 to 5/15/20 (pulled around Noon PST) and the percentage relationship between those numbers.

The numbers for New Listings in all areas have only fluctuated a little bit since last week. How many weeks in a row have I been saying that? Small fluctuations are normal, and even though our total number of listings are less that what they would normally be, the market is fairly STEADY (in this the new normal?).

ADOM

The second chart represents the Average Days on Market (ADOM) for the homes that are currently active and that went under contract between 5/9/20 and 5/15/20. “Days on Market” is how long the home was active on the market before the seller accepted an offer.

If we look at the 3rd column, the higher the difference in days there is shows us that the homes that are under contract, have been on the market for a shorter time than the homes that haven’t accepted an offer. They might be priced too high, or not going pending for any number of reasons.

% PRICE DIFFERENCE

The last set of data below is the average prices of the active listings and the average prices of the homes that went under contract last week. What we are mostly paying attention to here is how the % difference is changing from week to week to see how COVID-19 might be affecting the offer price that homes receive.

Bellingham’s Under Contract Average price sure did change this week- a $1.9 million home pended!  That sure changes the numbers!  Lynden finally had homes go under contract that are priced less than the average for actives.


Posted on May 19, 2020 at 9:36 pm
Tracie Gulit | Posted in Market Updates, Tracie's Thoughts, Trends |

Current Numbers that Matter – Week 8

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I hosted my very first Virtual Open House this weekend- what a fun way to show potential buyers and home lovers a home without spreading germs!  I hope you were able to join me live on Facebook from the comfort of your own home! If not, the recorded video is posted on my feed in facebook and on IG TV!  But don’t worry- that was the first, but it won’t be the last!

It’s still not business as usual – no open houses, only serious homebuyers touring, all showings by appointment only regardless of occupancy (vacant or occupied), showings limited to two people on a property (broker and client) with proper social distancing, and most everyone is sporting a mask.

*All of the agents at Windermere continue to protect our community through taking extra precautions to safely do business with us! We are wearing masks, gloves, and making sure to wipe down every surface we come in contact with!* 

BACK TO THE DATA

Last week the number we reported was 57 New Listings for 2020 on the Market in Whatcom county. As you can see, the spring Market here is still coming along with 72 New Listings this week! Compared to 102 last year, we are still not up to our regular numbers, but we are not far behind.

UNDER CONTRACT

Below is an accounting of all of the active listings on the market in our three major markets along with all of the sales that went under contract from 5/2 to 5/8/20 (pulled around Noon PST) and the percentage relationship between those numbers.

The numbers for New Listings in all areas have only fluctuated a little bit since last week. Under Contract listings went up by a few in Bellingham and down just a few in Ferndale and Lynden.  All normal fluctuations from week to week.

ADOM

The second chart represents the Average Days on Market (ADOM) for the homes that are currently active and that went under contract between 5/2/20 and 5/8/20. “Days on Market” is how long the home was active on the market before the seller accepted an offer.

Homes are continuing to sell fast, as all the numbers have dropped here from last week in almost every section! In Ferndale, the difference in days last week was 47, and the in Lynden, the difference was -36!

% PRICE DIFFERENCE

The last set of data below is the average prices of the active listings and the average prices of the homes that went under contract last week. What we are mostly paying attention to here is how the % difference is changing from week to week to see how COVID-19 might be affecting the offer price that homes receive.

Lynden is still having homes go under contract that are priced higher than the average Active Listing in that area and Bellingham and Ferndale are still hovering right about the same Price for pendings.


Posted on May 11, 2020 at 9:56 pm
Tracie Gulit | Posted in Market Updates, Tracie's Thoughts, Trends |

Current Numbers that Matter – Week 7

A PLAN TO MOVE FORWARD

It’s already May! It almost seemed like April would never end, but we made it! Good job, team!

Friday, May 1st, Governor Inslee announced that the Stay Home Order would now be extended past the previous deadline of May 4th to May 31st. The state will be opened back up slowly in a 4 phase series. As part of Phase 1, Governor has eased up some restrictions on outdoor recreationconstruction and elective surgeries. If you’re wanting to get out to enjoy nature and get some fresh air, here’s a great article from The Mountaineers about how to recreate responsibly.

On that note, it’s still not business as usual – no open houses, only serious homebuyers touring, all showings by appointment only regardless of occupancy (vacant or occupied), showings limited to two people on a property (broker and client) with proper social distancing, and most everyone is sporting a mask.

BACK TO THE DATA

April 25-May 1, 2019 had a big jump in homes on the market! 30 more homes last year, while this year is still staying pretty steady right around 60. As I said last week, with an exceptions of this year, it’s pretty typical to see Active homes increase on a weekly basis in the spring.

UNDER CONTRACT

Below is an accounting of all of the active listings on the market in our three major markets along with all of the sales that went under contract from 4/18/20 to 4/24/20 (pulled around Noon PST) and the percentage relationship between those numbers.

The number for Under Contract homes in Lynden dropped by half over the last week!

ADOM

The second chart represents the Average Days on Market (ADOM) for the homes that are currently active and that went under contract between 4/18/20 and 4/24/20. “Days on Market” is how long the home was active on the market before the seller accepted an offer.

Lynden again is the note-able one: pended some homes this week that have been on the market for a while- 134, 242, and 314 days, to be exact!  That’s why the number for is almost 4 times higher than last week for ADOM in Lynden!

% PRICE DIFFERENCE

The last set of data below is the average prices of the active listings and the average prices of the homes that went under contract last week. What we are mostly paying attention to here is how the % difference is changing from week to week to see how COVID-19 might be affecting the offer price that homes receive.

Bellingham and Ferndale in each category are not far off from the week before, but we’re looking at you, Lynden. With two houses pending over $700k, your percent difference is up 59%!


Posted on May 6, 2020 at 10:41 pm
Tracie Gulit | Posted in Market Updates, Tracie's Thoughts, Trends |

Gov. Inslee’s Wa Recovery Plan

 

 

A SAFE RETURN TO PUBLIC LIFE

On Tuesday, 4/21, Governor Jay Inslee announced his plan for a safe return to public life. This plan is broken down into 3 main goals:

  • Protect the Health and Safety of Washingtonians
  • Facilitate a Safe Start and Transition to Economic Recovery
  • Support All People and Communities
He’s included all the details in each of these goals, and how he plans to implement the plan in this Policy Brief.

Posted on April 29, 2020 at 11:01 pm
Tracie Gulit | Posted in Tracie's Thoughts |

Current Numbers that Matter – Week 6

A Plan to Move Forward

Hard to believe we’ve been paying attention to the numbers for 6 weeks already.  I’m thankful the number of COVID-19 cases in Washington State continues to decrease and we are starting to see a light at the end of the tunnel!  Below You’ll find:

  • Updated Numbers
  • Washington’s Recovery Plan
  • Matthew’s New Construction Update
  • Love to the Alcoa Families
  • Another Chance to WIN!

BACK TO THE DATA

This last week of 2020 compared to the same week of 2019 only saw a New Listings difference of 34 homes. The bigger difference from last week to this week was actually in 2019 (87 -> 94), It is typical to see the number of listings increase week by week as we go through spring- NOT this year. We are staying pretty steady around 60 new listings a week.  I don’t have a crystal ball, but I expect these numbers to go up as our State begins to open back up!

 

UNDER CONTRACT

Below is an accounting of all of the active listings on the market in our three major markets along with all of the sales that went under contract from 4/18/20 to 4/24/20 (pulled around Noon PST) and the percentage relationship between those numbers.

The % is hovering right about the same for all areas, but there were more pendings in each area this week than since week 1!

ADOM

The second chart represents the Average Days on Market (ADOM) for the homes that are currently active and that went under contract between 4/18/20 and 4/24/20. “Days on Market” is how long the home was active on the market before the seller accepted an offer.

For the second week in a row, the Under Contract numbers for Ferndale dropped again from 45 to 28 (they were at 65 two weeks ago). It appears there are buyers waiting for homes to come on the market in Ferndale- many homes are pending very quickly after they are listed.

% PRICE DIFFERENCE

The last set of data below is the average prices of the active listings and the average prices of the homes that went under contract last week. What we are mostly paying attention to here is how the % difference is changing from week to week to see how COVID-19 might be affecting the offer price that homes receive.

More lower than higher-priced homes seem to be pending in the Bellingham and Ferndale areas. Lynden, on the other hand, is still seeing higher-than-average priced homes pend.


Posted on April 28, 2020 at 12:59 am
Tracie Gulit | Posted in Market Updates, Tracie's Thoughts, Trends |

Current Numbers that Matter – Week 4

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Data, Tours, Taxes and Interest Rates

Most prominent in the news this last week was Washington State deciding that our students will not return to in person schooling this school year.  Families are mourning sadness of missing out on the end of year celebrations for milestone grade transitions, cancelled sports seasons and so much more.  I’m with you all experiencing some of this sadness and if there is any way I can support you or help you celebrate something, please let me know!

This is week 4 of analyzing data in Whatcom County to observe the affects of COVID-19 on our housing market.


BACK TO THE DATA

Numbers seem to be going up! Whatcom County total homes that went Active this week rose from 52 to 95, which is a pretty big jump in one week considering our current situation! There is now only a difference of 21 homes from last year to this year.

UNDER CONTRACT

Below is an accounting of all of the active listings on the market in our three major markets along with all of the sales that went under contract from 4/4/20 to 4/10/20 (pulled around Noon PST) and the percentage relationship between those numbers.

Remember when Real Estate wasn’t deemed an “Essential Business,” and numbers went down? Well, look what happens when we are “Essential” again! Please know that we are all taking great caution and limiting exposure to families by only taking clients into others homes that have urgent housing needs. Pendings are back up! The Under Contract numbers for Bellingham doubled since last week, and Lynden has 32 new active listings!

ADOM

The second chart represents the Average Days on Market (ADOM) for the homes that are currently active and that went under contract between 4/4/20 and 4/10/20. “Days on Market” is how long the home was active on the market before the seller accepted an offer. The difference in DOM numbers have dropped this week, telling us that more homes that were on the market for a long time have sold, and new houses are moving faster.

% PRICE DIFFERENCE

The last set of data below is the average prices of the active listings and the average prices of the homes that went under contract last week. What we are mostly paying attention to here is how the % difference is changing from week to week to see how COVID-19 might be affecting the offer price that homes receive. Bellingham numbers are looking closer to normal (some higher priced homes pended this week). There is now only a 37% difference between the Actives averages and the Under Contract averages.  And Lynden had a similar change in prices as Bellingham did last week- the Average Active Listing and Under Contract Price went down by about $100,000.

 


Posted on April 14, 2020 at 6:06 pm
Tracie Gulit | Posted in Market Updates, Tracie's Thoughts, Trends |

Current Numbers that Matter – Week 3

May the 4th Be… Here Quickly!

Here we are again with another update on our Stay at Home Directive, which now has been extended until May 4th. It might seem like so far away, but the more we stay home (and the better we follow the rules), the sooner we will be able to resume our regular lifestyles!

I’m continuing with week 3 of looking at specific data from Bellingham, Ferndale and Lynden to observe the affects COVID-19 has on the current housing trends. You’ll find the updated charts below and my comments regarding them. However, before we get into the nitty gritty, watch the video below for some good news!

BACK TO THE DATA

As we are in an ever-changing climate (it seems day-to-day), I want to reiterate that the BEST time to list a home for sale, I believe, will be 1 week after the Stay Home Directive is lifted. As Economist Matthew Gardner has stated in his Monday Update this week, “We are currently in a Health Crisis, NOT a Housing Crisis.” Most things in our life right now, unless they were already in process or are essential, have been put on hold. When we are able to get back to “normal life” that will all start back up again. New listings will go active, and buyers will be ready as ever to find a new home!  As I projected last week, the numbers have dwindled slightly, but not significantly as you’ll see below.

UNDER CONTRACT

Below is an accounting of all of the active listings on the market in our three major markets along with all of the sales that went under contract from 3/28/20 to 4/3/20 (pulled around Noon PST) and the percentage relationship between those numbers. Our Under Contract Sales have continued to fall, this week’s pendings are half of what last week’s were.  This is a direct connection to the Health Crisis and is no real surprise.

ADOM

The second chart represents the Average Days on Market (ADOM) for the homes that are currently active and that went under contract between 3/28/20 and 4/3/20. “Days on Market” is how long the home was active on the market before the seller accepted an offer. The difference in ADOM bounced back to numbers looking similar to two weeks ago which is that homes that are coming on the market, appropriately priced are selling quickly.  Homes that came on in the last week in Bellingham and Lynden accepted offers this same week- there are buyers out there!

% PRICE DIFFERENCE

The last set of data below is the average prices of the active listings and the average prices of the homes that went under contract last week. What we are mostly paying attention to here is how the % difference is changing from week to week to see how COVID-19 might be affecting the offer price that homes receive. Most significant here is the Under contract pendings average price for BELLINGHAM- I can’t remember the last time any average price in Bellingham was this low.

MORTGAGE RELIEF

A MAJOR aspect that is different from the recession we are heading into and the  2008 Great Recession is that some banks and mortgage investors (servicers) are working with homeowners to provide mortgage relief. With the shutdown of so many businesses and services, job losses (hopefully they are temporary) have been abundant.
If you or someone you know would benefit from setting up a mortgage forbearance program or loan modification in order to alleviate the pressure of monthly payments right now, click on this link and have them contact their mortgage servicer today. The available programs that are offered will vary from one loan servicer to another, and are primarily available for loans that are owned by Fannie Mae or Freddie Mac (click on the appropriate link to help research who owns your loan).
Make sure you consider the details and payback terms for your long-term financial health. Your ability to protect your largest asset (your home) while waiting this out will protect your equity! This is a milestone opportunity and will ensure a strong housing market moving forward.


SMALL BUSINESS HELP

We care about local small business and want to be able to help you thrive in any way we can! If you own a small business like I do, chances are this health crisis we are in has had an effect on your stress levels. Well, this information graciously provided by my tax advisor should help!

Recently, Congress passed the CARES Act (Coronavirus Aid, Relief and Economic Security). This is designed to assist small businesses steadily throughout the VOVID-19 crisis and provide the ability to keep their employees. There are two major parts to the act: The Small Business Administration Emergency Injury Disaster Loans, administered by the SBA, and the Paycheck Protection Program, administered by private banks. Down below, I have included an infographic about applying for a Paycheck Protection Program loan, which can be up to 2.5 times your average monthly payroll costs, with the possibility of the loan being forgiven.

 

Here’s a helpful list of 10 FAQ’s from the US Chamber of Commerce about the loans of the CARES act

1.       What loans are available to help small businesses during Coronavirus?
The Economic Injury Disaster Loan from the SBA.
The Payroll Protection Loan.

2.       How do I get these loans?
Apply for the Economic Injury Disaster Loan directly from the SBA here.
Payroll Protection Loans are government-backed but will come from private banks. You should inquire at your local bank about these loans.

3.       How much can I borrow?
The EIDL from the SBA can be up to $2 million working capital for up to a 30-year term at 3.75% (2.75% for non-profits). Not everyone will qualify for that amount.
The Payroll Protection Loans can be for 2.5 months of average payroll or $10 million, whichever is less [note: employee health care plan costs can be included – see the attachment].

4.       Do I need to repay these loans?
The EIDL from the SBA will be repaid. Payments can be deferred for one year after the origin of the loan.
All or some of the Payroll Protection Loan may be forgiven (converted into a grant). There are specific requirements about how you spend the loan and if you continue to employ your workers in order for it to be forgiven.

5.       What about the $10,000 emergency grant I’ve heard about?
The SBA is offering to advance businesses a $10,000 grant that does not need to be paid back. That grant can be paid quickly – in as little as three days.
You can apply for that $10,000 grant as part of the EIDL process. If you are awarded the $10,000 emergency grant, you will not have to pay the grant amount back. You will still have to repay the rest of your SBA EIDL.

6.       Can self-employed and freelancers apply?
Paycheck Protection Loans are available to 501(c)(3)s, self-employed, sole proprietors and independent contractors.
SBA EIDLs are available to small businesses and non-profits (including faith-based) with fewer than 500 employees, sole proprietors and independent contractors.

7.       Can I apply for both loans?
Yes. You can apply for and receive both loans.

8.       Do I need good credit to qualify for these loans?
The Payroll Protection Loan requires no collateral and no personal guarantee.
The EIDLs are given based on credit scores. No tax returns are required. You can borrow up to $200,000 without a personal guarantee.

9.       What if I’ve already fired or laid off my employees? Do I still qualify for a Payroll Protection Loan?
Your loan may be forgiven if you bring back employees and restore wages generally within 30 days and maintain them through June 30.

10.   My bank doesn’t seem to know anything about the Payroll Protection Loan. Now what?
Banks are currently working out the details. If your bank hasn’t heard about the loan yet, try a bank that is already an approved SBA lender [note: in the Bellingham area, these include Umpqua Bank, Wells Fargo, Chase, US Bank, KeyBank, and Bank of America]. They may be more familiar with the process.

For help in navigating the loan process and other aspects of this crisis, SCORE, a well-established small business mentoring program, is available to do remote mentoring. In addition, they will be conducting webinars and online workshops for dealing with the fallout from Coronavirus and the help available. You can learn more here.

Please contact me with your questions and concerns, I am committed to help keep you informed!
Best Wishes!

Posted on April 8, 2020 at 8:23 pm
Tracie Gulit | Posted in Market Updates, Tracie's Thoughts, Trends |

REVISED Current Numbers that Matter – Week 2

I SPOKE AN HOUR TOO SOON!

The Governor JUST deemed Real Estate as an “Essential Business”! 
So what does this mean for you and our clients?  We now have to adhere to stricter guidelines to ensure safety for our clients and homeowners, however we are able to do the following:
1. In-person activities must be appointment-only
2. No more than 2 people, including the  broker, may be at the property at any one time; and
3. Those persons must strictly follow social distancing guidelines established by the CDC and Prevention by remaining at least 6 feet apart at all times.

The revisions to the Order are limited to allow the following in-person activities, provided the above protocols are followed:

  • Previews and showings of listings by appointment only;
  • Listing presentations, photography, and creating virtual tours for new listings [Note: professional photographers are not considered “essential,” thus all photos must be taken by the broker or seller];
  • Inspections for pending transactions;
  • Appraisals for pending transactions;
  • Buyer “walk-troughs” for pending transactions prior to closing; and
  • Providing keys to buyers at closing.
  • Real estate Open Houses are NOT permitted

THIS MODIFICATION ALLOWS ME TO MOVE FORWARD WITH JUST A FEW MODIFICATIONS!  HOORAY!


Posted on April 8, 2020 at 7:59 pm
Tracie Gulit | Posted in Market Updates, Tracie's Thoughts, Trends |