With today’s highly competitive real estate market, buying a home can be daunting. New home communities — such as the 55-and-older Woods Point neighborhood in Ferndale, north of Bellingham — are coming up with creative options for a smooth new home purchase.
According to Redfin, approximately 70% of home offers face bidding wars. This is understandable, considering there is only a two-week supply of homes for sale in the Pacific Northwest region. (A healthy, more balanced market is considered to be 4-6 months.) These challenges are further exacerbated in the new home market, where builders have faced extreme price increases for lumber and construction materials. Some prices have increased by as much as 300% from the previous year.
Landed Gentry Homes, the builder of Woods Point, has developed a priority reservation program to allow buyers to reserve homesites early. This gives them the first option to purchase when construction begins, says Kendra Gentry-Decker, Landed Gentry’s executive vice president.
“Our Woods Point priority reservation program helps alleviate the worry of competitive bids or multiple offers for our buyers,” she says. “With the highly anticipated release of homesites in our second phase, it’s a great opportunity for buyers to select their favorite home design and location. Once it’s ready for construction, they can lock in pricing and personalize their new home with their choice of finishes.”
In addition to the new homesites being released, the community lodge, park and pickleball court are just weeks away from being finished. This will be one of the first things visitors and homeowners see when they arrive at Woods Point, a gated active-adult community offering 75 homes that are designed for convenient, uncomplicated living.
The 2,158-square-foot lodge will serve as the centerpiece of the community, with a large open room for gatherings and events, and panel doors that open to a covered patio to maximize air circulation and indoor/outdoor living.
The covered outdoor area includes a gas firepit and opens to the community pickleball court. It is adjacent to a large park, as well.
The homes at Woods Point are primarily single-level designs ranging in size from 1,536 to 2,372 square feet. Each home features great room living areas, at least three bedrooms, two bathrooms, and finished and insulated two-car garages. Design options are available for home office or hobby space.
Communities especially built for ages 55 and older are among the most active sectors in today’s housing market. Demand in the category continues to grow, Gentry-Decker says, powered by downsizing empty-nesters as well as buyers who’ve simply had their fill of yard work and major household maintenance.
“Woods Point is big enough to have a great community atmosphere, but small enough to know your neighbors too,” she says. “Some may call it ‘downsizing,’ but I think this is an excellent opportunity for buyers to ‘upgrade’ their lifestyle.”
According to the Northwest Multiple Listing Service, the median home price in King County is $860,000. At Woods Point, prices range from the $590,000s to the high $700,000s.
The homes at Woods Point are appointed with finishes such as cabinetry with dove-tail drawers, stainless steel appliances, granite slab kitchen and bathroom counters, and engineered hardwood flooring.
Master suites, located on the main level of each home, are designed for convenience and ease of living, with walk-in closets, tile showers and granite countertops.
The same attention to aesthetics continues on the outside, with Craftsman-style architecture; bold color schemes and natural wood accents; covered front porches; and fully landscaped yards with in-ground irrigation and privacy fences.
Gentry-Decker said Woods Point is generating particular interest among empty-nesters and people transitioning from large, expensive-to-maintain dwellings to an easier style of living in a manageable-sized home.
“With a new home at Woods Point, buyers have a wonderful new place to live. They can take advantage of the strong buyer’s market and higher sale prices when selling their existing house, putting their equity into a brand-new home. It’s really the best of both worlds,” she said.
There are several home designs to choose from at Woods Point. Buyers have the option of a single-level home, or they can choose a plan with a master suite on the main level and a bonus loft for guests, office, or space for hobbies or a quiet getaway.
Models range from the Laurel, which offers three bedrooms and two baths in 1,536 square feet, to the Garden, which includes three bedrooms and 2.5 baths, a home office and a hobby/craft studio in 2,372 square feet. All homes include a two-car garage. Extra rooms and outdoor fireplaces are available as options on most models.
Woods Point is located in Whatcom County, known for its abundant natural beauty and sweeping scenery, from the Salish Sea to Mount Baker and North Cascades National Park. The towns of Ferndale and Bellingham offer farm-to-table menus, craft brews, family moments, a vibrant arts scene and historical treasures. Shopping, medical facilities, Western Washington University, Bellingham International Airport, casinos and much more are all minutes away.
Woods Point: Open by appointment Wednesdays–Sundays at 1416 Woods Point Loop, Ferndale. Prices from $599,900–$794,900. Information at 360-488-3727, 360-941-8130 or LandedGentry.com.