Ferndale Real Estate Market Report for January, 2010

There are currently 201 homes for sale.

• Homes are priced from $94,500 – $1,500,000
• Average Asking Price is $384,702 Days on Market are 134 days
• Median Asking Price is $328,500 Days on Market are 97 days
• Homes sold in January: 24
• Average Listing Price $268,044
• Average Sold Price $259,758 Days on the Market 96
• Median Listing Price $245,950
• Median Sold Price $246,000 Days on Market 69
• Homes Pending this week: 10 Total Homes Pending: 50

• Average Sales Price January, 2009: $227,486 Days on the Market: 68
• Median Sales Price January, 2009: $228,000 Days on the Market:  49
• Sold in January, 2009: 7

The Average Sales price is up 19.8% compared to January, 2009 and down 7.4% compared to last month, December 2009.

The Median Sales prices is up 7.8% compared to January, 2009 and up .2% compared to last month, December 2009.

The number of sales is down up 17 compared to January, 2009 and is up 6 compared to last month, December 2009.

Looks like Ferndale prices have come up almost 20% from last years lows but seem to be trending down again.

The  First Time Home Buyer’s Tax Credit of $8,000 available to anyone who hasn’t owned a home in the past 3 years has been extended until April 2010.  The new program has also expanded the tax credit to include existing home owners who have owned a home for at least five of the last 8 years. You will be able to apply for tax credits of up to $6,500 when you purchase your next home. You might want to talk to your banker to see what you can afford. Meanwhile interest rates are still extremely low and there are some great values in the Bellingham market right now. You might want to take a look at what it would cost you to purchase one of these homes at today’s rates. You might be surprised at what your monthly payments would be, maybe less than your paying for rent right now if you are renting a comparable sized house.

If you have any questions or want to see any Bellingham Property feel free to email me at or give me a call at 360-739-6981

Whatcom County, tribe reach deal on Lummi Island ferry

It looks like life will continue without disruptions for the roughly 1,000 permanent residents of Lummi Island.

Whatcom County officials and the Lummi Nation have announced an agreement on a new long-term lease for the Gooseberry Point ferry dock,  ensuring uninterrupted ferry service between Gooseberry Point and Lummi.

The current lease expires Feb. 14, and thing were looking shaky for island residents. The County even did a tet run to Fairhaven.

Rumor has it that fares and schedules for the Whatcom Chief ferry may change once a final, long-term deal is done.

Tribal leaders have recently stated their goal was the eventual relocation of the ferry dock, and they expressed reluctance to consider any lease renewal beyond five years. But Tuesday’s announcement said the tribe and county have reached “a conceptual agreement for a 25-year lease with an option to renew for an additional 25 years……………………..Both the Lummi Nation and Whatcom County are committed to continuing to work in a spirit of cooperation to develop a final agreement in a timely manner,”

So if you’re considering a move to Lummi Island, you won’t have to worry about whether or not you’ll have a way to get to your new home. The ferry will be around for many years to come.

If your interested in Lummi Island homes give me a call, there are some great deals there.