Home appreciation is on a spree in Bellingham, Washington where home prices are rising between one and two percent monthly lately, say local Realtors.

"There are countless publications and media stories that have placed Bellingham near the top for Best Places to Retire, to start a business, or to even re-invent your life," says Realtor Mike Kent.

"Coupled with broad Internet coverage, Bellingham is flourishing with many new beautiful developments being filled by a steady stream of outsiders," says Kent. "One out of every four buyers are now from out of area (especially from Seattle and California)...Buyers who are seeking fresh air, little traffic and an active outdoor lifestyle with immediate access to both the sea and mountains. Prices have been rising for the past several years with homes increasing in value by as much as 2 percent per month. The land rush is on and there are fewer and fewer places to stake your claim. Buyers here are advised to move quickly and be prepared for competing offers especially in the properties priced under $250,000.00."

Says Realtor Jeff Jordan, "Consistently rated as one of the best mid-size cities to live in the country, Bellingham could be no hotter. Housing prices this spring are continuing on a one and a half to two percent increase per month. I anticipate the coming summer months will be the busiest on record as rumors of impending interest rate hikes will inspire even more buyers to beat the clock and secure their futures now.

Jordan advises, "Now really is the best time to either buy or sell a home. The time of year is right, the interest rates could not be more right, and housing prices will most assuredly continue to climb. Even if not at these amazing appreciation levels, real estate is still the best investment there is."

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Published: May 11, 2004

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