One of the most important things to look at when evaluating a market is the supply of inventory. Right now there are only 14 condos for sale that are located within the core of Fairhaven. The supply is really low right now, which is why we haven’t seen large decreases in prices. In fact, the prices are really spread out in Fairhaven right now. I believe that the current market value of a condo in Fairhaven falls somewhere between $300 – $350 per square foot. The exception to these prices would be a handful of the condos that are truly over the top in quality, but for the most part a condo priced over $350 per square just isn’t going to sell.

Over the last six months there have been 9 condos sell in downtown Fairhaven. Of the 9 condos that sold, nearly all of them sold between $300 – $350 per square foot. The actual sales prices of the sold condos ranged from $175,000 up to $942,000. If we go back and look at the condos that are currently on the market we will see that most of the condos that are priced over the $350 per square foot mark have been on the market for several months. Maybe some of the sellers are being unrealistic, or maybe they don’t really want to sell right now, but I believe that the market price is pretty clear.

If you are interested in learning more about the Fairhaven condo market, leave a comment below and let’s discuss this further.

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Post tags: Bellingham Condos, Fairhaven Condos, Fairhaven wa condos

Fairhaven is a popular historical neighborhood located at the south end of Bellingham. Fairhaven is an ideal location for single individuals, young couples with busy lifestyles and retirees looking to downsize. Amenities that make Fairhaven appealing include; the nightlife and clubs, a wide range of dining options and friendly neighbors. In Fairhaven there are over 26 restaurants, 40 sidewalk boutiques and 17 health & beauty salons within just a few blocks.

There are also several parks including the Village Green, Boulevard Park and Fairhaven Park all within walking distance of downtown Fairhaven. For the travelers, the Greyhound bus station and Amtrak train station are located at the west end of Fairhaven. Amtrak is a great way to travel to Vancouver, BC or Seattle to catch your favorite sporting or cultural event. Fairhaven is also home to the Alaskan ferry, which travels to Ketchikan Alaska on a weekly schedule.

If you know that Fairhaven is the place to live it is time to find the right place. Below is a list of all current condos in Fairhaven. Click on the Condo’s name to see what is currently available in each building. Here is the list of the 9 condominium buildings located in the core of Fairhaven. Harris Square, Fairhaven Square, Larrabee condos, Judson Plaza, Fairhaven Heights, The Waldron, The Young, Fairhaven Gardens and Creekside Estates. In addition, there are two condos located over Village Books.

(1) Harris Square ~ Built in 2005, 88 Total Units, 3 Buildings with 28 units each, Elevators, Secure parking garage. (A) 910 Harris St , (B) 960 Harris St and (C) 1310 10th Street.

Available Harris Square Condos: Harris Square A | Harris Square B | Harris Square C

(2) Fairhaven Square ~ Built in 2004, 30 total units, elevator, Secure parking garage, 10’ ceiling height, 1224 Harris St.

Available Fairhaven Square Condos

(3) Larrabee condos ~ Built in 2003, 10 total units, Natural gas heat, Secure parking garage, 10’ ceilings. 1001 Larrabee Street.

Available Larrabee Condos

(4) Judson Plaza ~ Built in 1991, 10 total units, Loft Style condos, Secure parking garage. 1201 11th Street.

Available Judson Plaza Condos

(5) Fairhaven Heights ~ Built in 2005, 4 units, Secure parking garage, elevator, air conditioning. 2 Bed, 2 Bath units. 1301 Mill Ave.

Available Fairhaven Heights Condos

(6) The Waldron ~ Built in 2007, 6 units, 2 car garage within the secure parking garage, secure elevator, air conditioning. 2 Bed, 2 Bath luxury units. 1314 twelfth Street.

Available Waldron Condos

(7) The Young ~ Built in 2007, 14 total units, Secure parking garage, high ceilings, crown molding, elevator, air conditioning. 1101 McKenzie Avenue

Available Young Condos

(8) Fairhaven Gardens ~ Built in 2005, 21 total units, Secure parking garage, elevator

Available Fairhaven Gardens Condos

(9) Creekside Estates ~ 28 Total Units, 3 Buildings with 8 condos & 1 building with 4 condos, Natural gas, 3 buildings with elevators, Secure parking garage & individual garages.

Available Creekside Estates Condos

Ryan Martin specializes in selling Farihaven condos. If you have any further questions about buying or selling a condo in Fairhaven, call or e-mail Ryan with your questions.

Ryan A. Martin

Cell: 360-319-0040

e-mail: Ryan (at) SolutionsTeam.net

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Post tags: Bellingham Condos, Creekside Estates, Fairhaven Condos, Fairhaven Gardens, Fairhaven Heights Condos, Fairhaven Square, Harris Square, Judson Plaza Condos, Larrabee Condos, Waldron Condos, Young Condos

1. Parking – Most condos offer underground parking or assigned cover parking. Typically the parking will be assigned in condominiums without covered parking. Make sure that you can get at least assigned 2 parking spaces if they are available. Also be sure that there is adequate guest parking. Sometimes condos do not offer enough spaces for guests, which make social gatherings nearly impossible to host.

2. Special Assessments – The financial strength of the condominium association is very important. As condos become older, this becomes even more important. When condominium associations fail to collect enough money for repairs and maintenance, their alternative to is ask the condo owners for money in the form a special assessment. Typically special assessments occur when roofs, siding and balconies are in need of replacement. The biggest mistake that you can make when buying a condo is incurring an unexpected special assessment after closing.

3. Windows – The exterior windows of a condominium are typically the responsibility of the homeowner. However, the association is usually in charge of the type of windows that can be installed. If you are considering a condo that is located near a busy or noisy street, be positive that the windows will block most of the sound. This is something that you will not be able to change and it is important that you are satisfied before making a purchase.

4. Location of Unit – The location of a unit within the condominium building is often the most important factor of value. The most valuable condominiums are nearly always located on the corner of the top floor. These units also typically the largest. The only reason that the top floor corner unit would not be the most valuable would be if the condominium does not have an elevator. If the condominium does not have an elevator the ground floor corner unit will likely be the most valuable in the building. Also consider units south and east to maximize sun exposure. This is very important if you like to grow plants or live in a sun deprived location.

5. Insurance – There are two basic types of insurance on condominiums. The first type of insurance is the association’s insurance policy. This is paid out of the association dues and covers all of the common areas of the condominium building. Make sure to check if the association has earthquake insurance if you are looking in the Bellingham area. This will likely have an effect of the interest rate of your loan. The second type of insurance is homeowners insurance. This insurance policy is paid for by the homeowner and covers everything inside of your unit. Homeowners insurance on condominiums is less expensive than homeowners insurance on a house.

6. Owner Occupancy Ratio – The percentage of occupants that are owners vs tenants will have a direct effect on the value of your condominium. A high ratio of owner occupancy is a sign of stability to lenders, which translates to lower interest rates a less money required for a down payment. If the opposite is true and there are more tenants than homeowners, lenders will be more hesitant to loan money on the condominium and the value will be less. Note that some condominium associations have restrictions on the percentage of rentals that are allowed for this reason.

7. Pet Restrictions – People love their pets and pet restrictions can be the source of a lot of hardship when looking for condos. If you are a pet owner, MAKE SURE to check the pet restrictions before purchasing or even considering a condominium. Pet restrictions can range from small house cats only, to 40lb weight limits on dogs to strictly behavior based pet restriction.

Begin your search now for Bellingham Condos right now.

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Post tags: Bellingham Condos