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For years the Bellingham downtown was seen as an industrial area. With heavy industry dominating much of the waterfront there was little room for development. This, however is a situation that has changed. The revitalization of the Bellingham waterfront is underway! In 2005 the Port of Bellingham purchased a significant package of land along the waterfront with the purpose of converting it into a multi-faceted community incorporating light industry, commercial interests, homes, and parks. This development is progressing with an eye on the environment and the bright future of the Bellingham waterfront.

This project has been christened as New Whatcom, and involves the public of the surrounding area as well as partnerships at local, state and federal levels. This partnership has created a distinct atmosphere for the New Whatcom project. One of the major features of this construction is the development of a new marina that will be one of the main features of the scenic waterfront.

Bellingham is known to be one of the more popular and lively areas in the rugged and beautiful Pacific Northwest. This is quite simply one of the most breathtaking areas in the country. From the snow-capped peaks of Mount Baker which is world renowned for record snowfalls and some of the most fantastic skiing and snowboarding terrain there is; to the pristine beauty of the waterfalls in Whatcom Falls Park, Bellingham and Whatcom County have a little something to offer everyone.

Another attractive aspect of this area is the agreeable climate. Bellingham lies in one of the last temperate rainforest areas left in North America and as such enjoys fair weather all year round. There is never a shortage of things to do at any time of the year in this area, a fact that is best defined by the annual Ski-To-Sea Race. Participants start at the peak of Mount Baker and relay race through seven different events before the race finishes in beautiful Bellingham Bay.

Eric Badgley is a motivated and professional realtor located in beautiful Whatcom County. For information on Bellingham WA real estate contact Eric or visit online at http://www.belllingham-realestate.net

One formal definition of escrow describes it as a deposit of funds or other instruments by one party for the delivery to another party upon completion of a particular condition or event. Escrow is a complicated process that intimidates many buyers, but it intended to protect both you and the person from whom you are buying the house. Its important to ask questions if you dont understand what is being done or why it is being done a certain way.

The way escrow is carried out depends on where you live. In some states, escrow companies do the paperwork and transfer the funds. In others, real estate agents and lawyers handle the paperwork and the delivery of funds and title. Regardless of the players involved, the functions are the same. There are three main activities that are going on at the same time during escrow - getting the house inspection, obtaining the mortgage, and handling the escrow paperwork.

The house inspection

The house inspection, from the buyers perspective, is both a protection and a negotiating tool. If the inspector uncovers a serious problem with the house, the inspection contingency in the purchase agreement allows the seller to reconsider the deal and withdraw the offer. As an alternative, the buyer may ask the seller to fix the problems, reduce the price of the house, or give a cash credit towards the repairs. And if the seller refuses, the buyer can back out of the deal. When youre buying a house, you will want an inspector who is licensed, meticulous, and tough. Fees vary, but will average around $250 - $450. In addition to the general house inspection, its often worthwhile for you to hire specialized inspectors to perform chimney, sewer, or termite inspections.

Securing the mortgage

Securing the mortgage is the second activity. Ideally, you have already been pre-approved for a mortgage. If you go to a mortgage broker for the loan instead of going directly to a bank or credit union, you can often find more flexible terms and better rates. During escrow, the details of the mortgage are confirmed and documents are signed. It pays to understand the benefits of different kinds of mortgages.

With a fixed-rate mortgage, the interest rate is locked in. This mortgage may be suitable for an owner who intends to keep the property for a long time, as it protects the home owner against interest rate increases and the payment is a constant amount. However, the interest rate will be higher than for other types of mortgages. With an adjustable-rate mortgage, the interest rate and the payment can go up or down according to the prevailing interest rates. This mortgage allows the buyer to benefit when interest rates are low, but it also exposes the buyer to the risk of escalating rates.

The fixed-rate adjustable mortgage has a fixed rate for certain time, anything from six months to five years. Then the rate adjusts, along with the payments. This can be a money-saving option for a buyer who intends to flip the house within a year or two, because the initial interest rate will be low and the house will be resold before the interest adjustment occurs.

The escrow paperwork

As soon as an offer has been negotiated, a huge amount of paperwork demands attention. The secret here is to read all documents carefully, ask questions when necessary, and respond to all instructions immediately.

The inspection and mortgage generate their own paperwork, of course. You must also submit the deposit, negotiate any concessions from the seller, review the title report, review estimated closing cost statements, remove the contingencies, secure property insurance, prepare and transfer funds to escrow, and sign the final documents. Above all, you must be conscious of all deadlines and not wait until the last minute. Missing a deadline or failing to sign a document could unravel the whole deal youve worked hard to make.

Are you a smart real estate investor or are you making dangerous mistakes Find out how the pros generate wealth through real estate investment. Visit http://new-real-estate-investor.blogspot.com before you make any costly errors.

Mortgage refinancing loans are viewed as one of the most innovative ways of saving on the interest payment while at the same time gaining access to some extra cash by using your home equity. But before you opt for a mortgage refinancing loan, be sure to do some research to help you make an informed decision.

Research Different Types Of Lenders

You can obtain a mortgage refinance loan from different types of lenders including thrift institutions, commercial banks, mortgage companies, and credit unions. The loans can also be arranged through mortgage brokers. They help mediate between you and the lender instead of directly lending you money. One advantage of getting a loan through a broker is that the broker has access to a wider selection of lenders and can arrange for loan products with better terms and conditions. However, it is important to know whether you are dealing directly with the lending company or through a broker. There are certain financial institutions that operate as both lenders and brokers. Often the brokers themselves do not declare themselves to be the broker. This is important to know because brokers fees are often added to your interest rate or payable as points at closing.

Seek Information About Hidden Costs

Various credit institutions try to lure the customers with attractive monthly payment terms. But getting information just about monthly payment rate is not enough. Learn about the total loan amount, terms and conditions, and type of loan that is being offered. This information will help you more accurately compare between the loans provided by different lenders.

Consider what type of interest rate is being offered, whether it is fixed or adjustable rates. Remember, your monthly loan payment may go up in case the interest rates for adjustable-rate loans surge up. Also consider the loans annual percentage rate (APR). The APR reflects all the costs of the loan in the form of an annual rate including interest rate, points, broker fees, and certain other credit charges.

Find Out The Points And Fees

Points are the fees of lenders or brokers and the amount is generally included in the interest rate. You should also research the current industry fees and points.

Refinancing loan involves many more fees like loan origination or underwriting fees, settlement, and closing costs. Remember most of these fees are negotiable. There are also the no cost loans, but they naturally charge higher rate of interest.

Before trusting any particular financial institution, shop around to compare costs and terms. Once you get the quotes from different lenders, negotiate for the best deal. The internet is the best place to shop for a mortgage refinancing loan. Several websites will provide you information on interest rates and points offered by various lenders. Remember, rates and points can change on a daily basis, so do the research and grab the best offer as soon as you can.

To get a Mortgage Refinance Loan go to EasyMortgageRefinance.info for more info on Mortgage Refinance.

Did you just purchase your property Say you just bought a property and it wasnt through anyone person in particular, it was just on the regular market. It was with a builder who was offering a whole lot of discounts to move the property before the end of the year in a new development. Your problem-you had to have it titled in your name rather than in your LLC.

Why did this happen Maybe it seemed simple enough at the time. Maybe they were paying all closings costs. In fact there werent any closing costs. So the next logical step would be to go to the bank and get a loan. Now if they were going to owner finance the whole thing then you have a whole new ballgame. Say they financed it at only 4.25 for five years. And then they are paying all closing costs; the only thing you would have to do is pay four months of taxes and one year of insurance.

And keep in mind you are paying retail price!

So where does that leave you. You my friend are sitting pretty. They have drastically discounted the house. You should be sitting pretty right...right

Bottom line-it doesnt matter what they did and you shouldnt care either. You should care more about what it is really worth. And the truth is- you would be foolish to buy this house without getting your own appraisal. Dont you accept anything that builder gives you to determine the value of this property.

You are not talking about small change here, right Maybe the house is worth $400+. Get an appraisal and you should hire your own attorney to work this deal through with you so you dont get stuck. You must have a good title insurance policy.

Also, you will need to get it appraised and you need to make sure that there is not something here that you dont know. . . and your biggest concern is what is it really worth, what are you paying and what is it going to be worth shortly

Another thing to look at is the area. This is a huge mistake people make!

Are the houses continuing to go up in value there Or are they leveling

And make sure when you hire the appraiser (in fact this is huge-you must be the one to hire the appraiser-no one else!) And you must have a conversation with this appraiser. You call the appraisal, you tell him you want a market analysis of the appraisal and the value and do not tell him what you paid.

Its that simple! You get that appraisal in your hand and then you decide where to go from there. In part II well see what happens when we try to title this!

When it comes to real estate investing, I highly recommend information from Ron LeGrand. For valuable information regarding investing in homes visit RonLeGrand.com. You can also find useful investor resources in the free newsletter at MillionaireMakerNewsletter.com

Owning the home of your dreams always comes at a price. And whether you e just starting out or you e building your retirement cottage by the lake, chances are someone other than you will have to help finance the cost of building your dream.

Now, if you e been through the home building process before, you know that construction financing isn the same as taking out a conventional mortgage on an existing home. But if you haven had the pleasure of having a castle built just for you, there are a few things you should know about new home construction loan financing. For instance:

Getting approved for construction loan financing can be tricky. Two loans are often required one for the construction period and one for permanent financing. Which means you l have to shop for both loans separately and will likely incur closing costs for both. However, if you qualify for a loan with a company that offers Construction-to-Permanent loans, both loans will be rolled into one and take the extra steps out of getting your dream home financed.

Bridge Loans can help secure your new owner-occupied primary residence home loan before you sell your current home. If you already own a home, a Bridge Loan will allow you to tap into the equity in your existing owner-occupied residence and use it as a down payment on a Construction-to-Permanent loan. When you sell your current primary residence or your new home is finished, you will simply pay off the Bridge Loan and make payments on your new home construction loan financing (a.k.a. your mortgage).

If you e found the right location but aren ready to build your dream home you can buy only the land and build on it later. Simply find a lender that makes Lot Loans, which is short-term financing that will give you time to choose an architect and builder to give you your perfect escape. Of course, many lenders are cautious about lending money on land, because it can be difficult to resell if the buyer defaults on the loan, so many request a large down payment with a high interest rate. So shop around for the best possible loan and save your money for the down payment on your construction loan financing.

Going through the process and doing your research will certainly yield additional information from experts in the field. But if you know what types of loans to look for and what they l mean for you as your new home is being built making the right decision for you and your financial situation will be a lot easier.

Karen Crane is a mortgage broker who has learned about the world of custom home plans the hard way. Having gone through the process of building three homes, she has finally settled into her dream house.