Last night I spoke to the Real Estate Investors Association satellite meeting in Bellingham. The topic was "Know Your Market," and below is the quiz (with answer key). The top experts were Serge and Irina with 20 correct answers. Congratulations, Serge and Irina!
According to the NWMLS, closed sales during 2015
- were less than in 2014, due to limited inventory
- were roughly the same as last year
- outperformed the prior year by no more than 10%
- outperformed the
prior year by a more than 14 percent increase.
Compared to 2014, the dollar volume of those closed sales
- was less in 2015, due to limited inventory,
- was roughly the same in 2015
- represents a gain of ten percent
- represents a gain of nearly 23 percent
True or False:
Last year’s completed residential sales
surpassed the previous highs during 2007
Industry analysts tend to use what range as an indicator of
a balanced market, favoring neither buyers nor sellers?
- 1-2 months
- 3-4 months
- 4-5 months
- 4-6 months
King County has 1.3 months of housing supply. How many
months of supply in the city of Bellingham?
1.
1.3
2.
3.25
3.
4
4.
4.5
Bellingham City Nickname?
City of Subdued Excitement
Bellingham City Population (within 5000)?
83,000
Median Age in the City of Bellingham (within 1 year)?
31
15.6% of residents were under the age of 18; 23.5%
were between the ages of 18 and 24; 25.9% were from 25 to 44; 22% were from 45
to 64; and 12.8% were 65 years of age or older.
Which company employs the largest number of workers in the
city of Bellingham?
St. Joseph Hospital
Three of Bellingham’s top five employers are in what sector
of the economy?
1.
Education
2.
Professional Services
3.
Charitable/Social Work
4.
Manufacturing/Industrial
True or False:
The Canadian economic situation has had adverse effects on
foreign sales in Whatcom County.
Two years ago the Canadian and US dollar were on par with
each other. Today the Canadian dollar is worth approximately how much relative
to the US dollar?
1.
$1.10
2.
$0.97
3.
$0.91
4.
$0.82
Read more here: http://www.bellinghamherald.com/news/business/article22288617.html#storylink=cpy
Which tax on Canadian visitors provides the greatest revenue
to Whatcom county?
Sales tax
Of the total $750M sales tax revenue in Whatcom County, how
much of a decline was experienced between the first quarter of 2013 and the
first quarter of 2014?
1.
Less than $1M
2.
Between $1-2M
3.
Over $2M
4.
50% of the total revenue
Number of Canadian vehicles crossing into the US during this
same time decreased by how much?
100,000 per quarter
In 1995, the housing affordability ratio was 53% , as
calculated by average monthly US mortgage payment/average monthly income.
In 2015, this affordability ratio was:
- 45%
- 50%
- 53%
- 66%
The median home price for a house in the city of Bellingham
was under or over $300K?
$324,500
Median days on market for Bellingham home sales?
41
CDOM
The median percentage of sales price relative to asking
(list) price is over or under list?
98.58%
What is the mean annual salary of a wage earner in Bellingham?
$37,990, which
is below the Washington State average of $44,710.
True or False:
Home Ownership is lower and Rental Households are higher
than the national average.
True or False:
The City of Bellingham has a higher level of violent and
property crime than the national average.
Violent: Bellingham 53.3
US 41.1
Property: Bellingham
59.5 US 43.5
Top 5 safest neighborhoods in the city of Bellingham:
Sudden Valley
Silver Beach
Geneva
Happy Valley
Chuckanut
Top 5 highest appreciating neighborhoods in Bellingham
(since 1990)
Chuckanut
Western WA U/High St
Happy Valley
City Center
Ellis St/Alabama St
True or False:
The City of Bellingham does provide financial assistance to develop
and operate housing.
This housing is for residences occupied by owner
households with incomes at or
below 80% of the median income of Whatcom
County ($37900 for a single person, $43,300 for 2-person household)
How is the City of Bellingham encouraging infill development?
It is a set of 9 new housing forms for addition to all
residential zones except single-family
zones, neighborhood commercial zones, and the Lake Whatcom
Watershed. The forms
include Small and Smaller Lot detached single family houses,
Cottages, Detached
Accessory Dwelling Units, Carriage Houses over existing
garages, Duplex/Triplex, Shared Courtyard, Garden Courtyard and Townhouses.
Which zip code has the most real estate transactions 98229
or 98225?
98229
Happy Investing!
