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We Autumn 2018 Issue 4 Vol. 1

LOVE Bellingham

The Satushek Team Real Estate Report Local Focus: York Neighborhood Market Report Lender’s Corner Satushek Team Gives Back

Q&A with

Janet Lightner

Bellingham’s Community-Minded Brewmaster

2211 Rimland Drive Ste. 124 Bellingham, WA 98226

Janet Lightner, Bellingham’s Community-Minded Brewmaster You have one of the longest running breweries in Bellingham and one of the most successful. How long has The Boundary Bay been in business and can you talk about it’s beginning and why it is so successful? Boundary B a y opened in 1995, and has been open and growing for the last 23 years. We were pioneers from the start, producing great quality beers that intrigued people. From the very beginning, we did what we could to support our community, and I think that has created two decades of strong partnerships and support from our community with so many folks that are excited to be a part of the Boundary Bay family. It also gives me a sense of satisfaction knowing that many of our fellow breweries have followed in our footsteps and created similar models of giving back. You are known as one of the biggest givers in our community. What are some of the events that you have sponsored over the years and how many events do you typically sponsor in a year? There are so many events that we have been a part of over the years, and so many wonderful memories. Whether here at Boundary Bay, or off-site, we participate in over

300 events every year. Some of the bigger ones that come to mind that we have been lucky to help foster include the Bellingham St Patrick’s Day Parade, Ski to Sea, April Brews Day and the Bellingham Traverse are just a few. It has also been very special to be a part of Robert Blake’s Stringband Jamboree since the start, and to see the Stringband Thursday Happy Hours grow over the years, creating a delightful space for families to sit in the sunshine and enjoy music from our many local musicians.

Your business seems so family oriented, can you talk about that?

What is the most interesting thing we wouldn’t find on your resume?

I started here at Boundary Bay when my four kids were 7 to 17 years old. It was necessary for me that they came with me to work, and therefore we grew a family-friendly environment that welcomed children. Over the years, other staff followed that model and many kids grew up here, and continue to come here to this day. Some of the kids that grew up here

On the other side of being satisfied, I’m really drawn towards living a very simple life. A lifetime ago, I considered becoming a nun. The simplicity of that contemplative lifestyle really appeals to me. Still to this day, I like to go for walks and spend time alone with my dog Barley. If we’re sitting here a year from now celebrating what a great year it’s been for you, what did you achieve?

now work for us and bring in their own families. It has been such a blessing over the years to see my own children, as well as many others, grow and thrive here. What inspires you? Art in general inspires me. It makes me feel good to see all the different things people create, whether it be artistic pieces or people pursuing athletic endeavors. When they are doing their craft 110% you can see how powerful that can be, and that is pretty inspirational. By supporting our women’s Ski to Sea team over the years, it has been such a great opportunity to meet the strong and dedicated women that have made up the team. Olympic athletes are no different than anyone else, and the female athletes I’ve known are humble, kind and pitch in to help wherever they can. They are not just one dimensional athletes, but rather, well-rounded human beings pouring their all into their ‘craft,’ and that hard work comes out in anything they do.

It would make me happy to see Boundary is still present, growing and changing with the times, modernizing where we need to. It is a constant project to stay relevant and active in this growing industry. There are so many more breweries in the state of Washington than there were in 1995, and so we are focusing on staying busy and producing well made beers that people enjoy. It’s exciting to see where we will be a year from now.

What is the most satisfying thing in your life? Any time that our beer garden is full of smiling, dancing families, or the restaurant and brewery are firing on all cylinders- just walking through a busy bistro and seeing people smiling, having a good time here and feeling comfortable and cared for- that fills me with much joy and satisfaction.

WLB + Boundary Bay Coupon

As predicted, interest rates have risen. Since January 2018, rates have increased from 3.95% to 4.875% and experts predict that rates will continue to rise before the end of the year. If you’re in the market to buy – this is the time! Homeowners are staying in their homes longer. Historically, the average length of time people stay in their home has been six years; today, homeowners are staying in their home between 9 and 10 years. Home prices have increased and are expected to continue rising in the coming year. The average home price in Whatcom County has increased approximately 10% in the past year. Homeowners across the US gained approximately $16,300 in equity during the past year, while Washington homeowners saw much higher gains of $44,000 on average because of our higher home values. If you’re thinking of selling – this is a great time, interest rates are also rising, so buyers are ready. Are we headed for a recession? If so, how will that impact the housing market? Some financial experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could be only 18 months away. Here’s what experts are saying: Aaron Terrazas, Zillow’s Senior Economist: “While much remains unknown about the precise path of the U.S. economy in the years ahead, another housing market crisis is unlikely to be a central protagonist in the next nationwide downturn.” Mark Fleming, First American’s Chief Economist: “If a recession is to occur, it is unlikely to be caused by housingrelated activity, and therefore the housing sector should be one of the leading sources to come out of the recession.”

MARKET REPORT Average Price 9/17 9/18

Avg. DOM Homes4Sale $/Sq Ft 9/17 9/18 9/17 9/18 9/17 9/18

Bellingham $415,804 $460,470 32 36 Whatcom County $362,371 $403,656 43 45

241 222

$219 $242

689 602

$192 $210

Skagit County $333,433 $379,439 55 44

422 402

$185 $208

Rates as of 10/10/18*

*rates subject to change check with your lender

Product Rate APR 15-Year Fixed 4.25% 4.508% 30-Year Fixed 5.00% 5.624% Construction 5.50% 5.671% FHA 4.625% 5.751%

Lender’s Corner Carmen Denson Umpqua Bank


Senior Mortgage Loan Officer NMLS 504887 (360) 937-0981

It’s all about the interest rates.

Recently, rates have remain unchanged with no pertinent financial reports. The International Monetary Fund reduced its growth forecasts for the US and China due to the trade war. We have 2 opposing rate indicators – increased inflation and higher costs which can be bad for rates but slower growth projections which can be good for rates. The general trend for mortgage rates is upwards however, if you are not closing for over 60 days it might be worth watching the market for a slightly lower rate day.

What difference does it make?

A buyer’s purchasing power drops $10,000 with every .25% increase in interest rates.

Buyer’s Purchasing Power %RATE

What’s going on with the market?

5.75 5.50 5.25 5.00 4.75 4.50 4.25

$2,334 $2,276 $2,218 $2,160 $2,100 $2,272 $2,214 $2,158 $2,100 $2,044 $2,208 $2,154 $2098 $2,044 $1,988 $2,148 $2,094 $2040 $1,986 $1,932 $2,086 $2,034 $1,982 $1,930 $1,878 $2,026 $1,976 $1,926 $1,874 $1,824 $1,968 $1,919 $1,869 $1,820 $400,000 $390,000 $380,000 $370,000 -2.5% -5% -7.5%

$1,771 $360,000 -10%

SATUSHEK TEAM GIVES BACK “We Rise By Lifting Others” …every member of our team believes this wholeheartedly, and as we help our clients buy and sell homes, and build the community around us, coming from contribution is a value we cherish. Each year, we’re privileged to give back to local organizations doing good in our area; this year, we’ll give $20,000 back to our community! Each team member has selected non-profit organizations which they’d like to support with a financial contribution from our team. We’ll be featuring these organizations on social media in the coming year and can’t wait to share with you what they do and who they help. Here are a few of the organizations we will be supporting: NAMI Whatcom, Pass the Hat, Girls on the Run, Skookum Kids, The Lighthouse Mission, Agape House, Jhamtse Gatsal Children’s Community, Lydia Place, and more! Keep an eye on We Love Bellingham’s Facebook page!

Let’s Look at the York Neighborhood!


he York Neighborhood is located west of Interstate 5 and east of Bellingham’s City Center. It is one of the City’s oldest neighborhoods, with many large, wellbuilt homes on sandstone foundations. Several sandstone outcroppings, such as the one at the old Franklin School site (now Franklin Park), and “Rock Hill” Park provide the neighborhood with distinctive landmarks. Despite the presence of several larger homes, the majority of the houses are small, and are built on smaller lots of about 4,480 square feet. This creates a rather high population density and lack of open spaces. Historically, the York Neighborhood was perhaps Bellingham’s earliest middle-class neighborhood. Although houses were built as early as 1889, and as late as 1970, the majority of homes were built between 1890 and 1910. The neighborhood contains many examples of fine Victorian architecture. It is a neighborhood with strong cohesion and few commercial influences not related to neighborhood needs. Even though it was zoned for multi-family development for many years, the neighborhood has retained a strong single family orientation. According to the 2000 Census, over 2,600 residents live in the York Neighborhood. Franklin Park is an old elementary school site located south of Lakeway. A playground and open field provide neighborhood recreation. North of Lakeway, the York Neighborhood Association has worked with the city to establish and develop Rock Hill Park at the end of Iron Street. A small playground and half court basketball provide activity for children. Neighbors have adopted the park and help maintain the flower beds. Whatcom Creek is the York neighborhood’s northern boundary. The I-5 freeway is the eastern boundary, and on the south bordered by Samish Way and Abbott Street. The neighborhood extends

westerly toward downtown to State and Holly streets. Main thoroughfares that run through the neighborhood are Lakeway Drive, Ellis Street, and Samish Way. The York District is a classic. One of the oldest neighborhoods in Bellingham, it boasts quality homes, mature landscaping, and a tight-knit community. Located just east of Downtown, its nearly 3,000 residents enjoy the most unique parts of Bellingham. Businesses are scattered throughout the York District, though most lie on the border between this neighborhood and Downtown Bellingham. Unlike many of the newer areas in Bellingham, the York District boasts largely local and community-oriented businesses. Restaurants, bakeries, and offices can all be found in the neighborhood, and grocery stores, music shops, and cafes are within close proximity. Though desirable enough to draw residents from all over the Bellingham area, companies in the York District focus on serving their immediate community. Residents can easily find space to toss a frisbee or soak up some sun at Rock Hill Park or Franklin Park. It is also just a quick stroll out of the neighborhood to Sehome Arboretum and Western Washington University (WWU). The university is just south of the neighborhood, allowing residents easy access to all that the school

offers. Residents can roam up to campus any day of the week to enjoy concerts, art shows, distinguished speakers, and the hundreds of other activities WWU offers. Some students choose to live in the York District because of its charm and short distance to campus, thus drawing many multi-family housing builders to the area. However, unlike neighborhoods closer to WWU, a majority of residents in the York District are homeowners. Quick access to I-5, downtown, and common employers draw many Bellingham residents to the neighborhood, and the safe, quiet setting make it a perfect place to raise a family. Buyers who are interested in starting out in the neighborhood can easily find affordable apartments or condominiums, and then move a block away into their dream home shortly thereafter. The York District is perfect for those who want to own their own house but experience all the luxuries of Downtown Bellingham. 

HAVE YOU SEEN OUR REVIEWS? We’d love to add yours! Check us out at: Cover photo ©Steve Satushek

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Satushek Team Newsletter - Fall 2018  

Local real estate updates from one of Whatcom & Skagit County's top-producing group of agents: The Satushek Team

Satushek Team Newsletter - Fall 2018  

Local real estate updates from one of Whatcom & Skagit County's top-producing group of agents: The Satushek Team