Braden Gustafson, MAI 🏘

Using numbers to tell a story about real estate. Exam Room 4

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

I am definitely posting more on Threads these days for the real estate statistics. You can find me at @bradygustavo there.

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Our look at fresh October stats on the local housing market https://t.co/pTSQmTIMUI
#Bellingham #Realestate

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Appraisal waivers allowed for up to 90% LTV and a waiver with an inspection will be allowed for purchases up to a 97% LTV. Many decisions being made against appraisers these days reducing volume, increasing scrutiny, and misplaced accusations. Need @AI_National to step up.

[HousingWire @HousingWire]

FHFA to allow alternative appraisal methods on purchases up to 97% LTV  https://t.co/nsO5jV6REP

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Heard at the Seattle Real Estate Conference: Strip retail center investor demand has increased, partially due to the increased following of its ambassador: @realEstateTrent

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Very cool look at office vacancy

[CompStak @CompStak]

CompStak conducted a detailed analysis of office leasing trends for the mid-year, uncovering significant market shifts across major U.S. markets.

Check out our blog series breaking down key findings, offering a closer look at the evolving office sector. https://t.co/QSFSMWhYaI

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

@ChrisJBakke Would you have paid more if the @Pringles can was full and not empty?

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

There should be evidence showing that the 'cause' of the low appraisal was because of the color of the person's skin. That is all we appraisers ask. There is a lot of fear among our most ethical appraisers that they are going to get swept up in this.

[HousingWire @HousingWire]

DOJ sues Rocket, appraisal companies over alleged discrimination https://t.co/ctdGEfnxxG

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

I endorse. Locally in the Pacific Northwest this seems like a good solution. Unfortunately, there have been a couple of developments in Bellingham that haven't sold as fast as one would think.

[Heather Long @byHeatherLong]

How do we solve America's housing crisis?

The pragmatic answer is townhouses.
Yes, we need more apartments and condos. But the reality is the US has built almost no condos since 2009. And apartments are good, but they're rentals.

Townhouses are a smart solution in many suburbs. Builders like them. Buyers like them. They're more affordable. And there isn't as much "NIMBY" opposition since they look similar to traditional single family.

What's interesting is townhouses are no longer just seen as "starter homes." As US family sizes are shrinking, a townhouse offers a better size (and value) than a "McMansion."

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

This property in Downtown Bellingham seems like a pretty good deal at $500k. Maybe there is a catch though. It is at 110 Unity Street with a 3,900-SF Building and 6,625-SF site.

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

@realEstateTrent Were there land sales you could have seen at the time that justified that massive redevelopment potential? Was there really something you 'missed' at the time of sale?

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Are all-cash buyers driving up home prices in Whatcom County?
https://t.co/yJDw3kuLqn
#Realestate #Bellingham

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Renderings show the potential for a cool restaurant at the two-building project at 922 10th Street in Bellingham. This is just south of the Chrysalis Hotel. The rest will be residential.

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Peoples Bank has proposed a two-story branch location for the site formerly occupied by Zane Burger and Win's Drive In #Bellingham #realestate

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Here is a look at the median price change in all NWMLS areas. The latest indicator was $650k in September, up 4.0% from a year earlier.

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

You can see the rate of change of the mortgages below 3% is much slower than the other loans. People do not want to let go of those.

[Mike Simonsen 🐉 @mikesimonsen]

Nearly 16% of all mortgages carry a rate greater than 6% now. By the end of the year that'll climb further.

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Inventory is definitely growing nationally. The change is happening much slower locally.

[ResiClub 🏡📊 @ResidentialClub]

Active housing inventory for sale, by September

Sep. 2017 -> 1,308,607
Sep. 2018 -> 1,301,922
Sep. 2019 -> 1,224,868
Sep. 2020 -> 749,395
Sep. 2021 -> 578,070
Sep. 2022 -> 731,496
Sep. 2023 -> 702,430
Sep. 2024 -> 940,980

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Housing Market Update - Whatcom County
September 2024
Prices keep going up.
https://t.co/nT8GosJlLa

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

@ThinkAppraiser Full credit to your parents for drilling these things when you probably rolled your eyes for the first 20 years of your life. Or at least I would have when I was young ;)

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

@ChrisJBakke @GORGO4547 It was the bread's fault. Didn't have a flat end so the teeth had nothing to grab on to. #badbread

[Braden Gustafson, MAI 🏘 @GustafsonSnoco]

Bellingham is getting a @ChickfilA and it might be the biggest store outside of New York City. It is almost 6,000 square feet and will be located at 4030 Cordata. Gross annual sales will be around $1billion.