Real Estate Weekly April 10, 2020

INSIDE

This Issue

CREDIT SCORES ARE RISING: THAT’S GOOD NEWS FOR HOME SHOPPERS PAGE 6

VIRUS CRISIS CONTINGENCY PLANS FOR RENTERS PAGE 7

CLASSIFIEDS PAGE 7

APRIL 10-16, 2020

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INSIDE

TABLE OF CONTENTS

PAGE

7

Q&A

Ask Our Broker.......................................................................P4

Credit scores are rising: That’s good news for home shoppers...............P6 Virus crisis contingency plans for renters..............................................................P7 Classifieds............................................................................P7

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1994655 1697651

We have it all!

Bar and counter stools, marble coasters, mud rugs, sofas and love seats, kitchen chairs, coffee and end tables, benches, bookcases, desks, beds and so much more!

Cathy West Oak Harbor Escrow Manager/LPO 360.679.5055

All real estate advertised in Real Estate Weekly is subject to the Federal Fair Housing Act, which makes it illegal to advertise “any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status, or national origin, or intention to make any such preference, limitation or discrimination.” We will not knowingly accept any advertising which is in violation of the law. All persons are hereby informed that

Shelley Miner Burlington Escrow Manager/LPO 360.707.2312

Eldon Brown Skagit County Manager 360.707.2158

Christa Canell Freeland Escrow Manager/LPO 360.331.4838

Kari Pittenridge Anacortes Escrow Manager/LPO 360.299.0565

Holly Mathers Island County Title Manager 360.675.2246

LAND TITLE AND ESCROW W

Brandi Jensen Stanwood Escrow Manager/LPO 360.629.9737

Katey Von Hagel Marketing Representative 360.707.1076

Service you deserve with people you trust Visit any of our 5 locations in Oak Harbor, Burlington, Freeland, Stanwood and Anacortes

Ltco.com 2

To advertise in RE-Weekly or other Skagit Publishing publications, Call: 360.416.2180 or Email: ads@skagitads.com ©2020 by Skagit Publishing | All rights reserved.

1898385

all dwellings advertised are available on an equal opportunity basis.

For further information call HUD Toll Free at 1-800-669-9777.

All Houses subject to prior changes without notice. Neither advertisers nor Skagit Publishing are responsible for any errors in the ad copy.

Skagit Publishing reserves the right to refuse any advertising, which we deem unsuitable for our

publication.

Unless otherwise noted, all photographs, artwork and ad designs printed are the sole property of Skagit Publishing and may not be duplicated or reprinted without express written permission.

Skagit Publishing is not responsible for typographical or production errors or the accuracy of information provided by advertisers.

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VISIT RE-WEEKLY.COM TO EASILY SEARCH FOR LOCAL REAL ESTATE LISTINGS! EASY TO USE TOOLS & THE MOST UP-TO-DATE INFORMATION FOR FINDING LOCAL REAL ESTATE

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April 10, 2020

Feature Home From cover:

STAT

Virtual Tour

Real Estate Stat

Windermere real estate/anacortes Properties P 3018 commercial ave.

Anacortes,WA • 360-293-8008 www.anacortesrealestate.com

The percentage of realtors who prefer to communicate with clients via instant messaging.

2001867

Source: National Association of Realtors

Brown McMillen

w w w. b r o w n m c m i l l e n . c o m • 235 W. Rio Vista Avenue, Burlington

Build your dream home in the much desired and beautiful Conway area. Level 1-acre lot with Perc, water and option to have approved rain catchment system for water. Property is near Conway School District. $149,500 #1556891

Excellent commercial property in great location visible and easy access on and off freeway. Property is already cleared and ready for development.

Great potential to be joined with adjacent property for a larger development. $525,000 #1509591

Bayview Farmhouse with beautiful view. 3BD/1.75BA, newly remodeled, and cozy living room with gas frpl and built-ins. Fenced yard, detached 2 car garage, lots of storage, all nearly an acre.

MUST SEE! $505,000 #1546613

April 10, 2020

360-840-4375 360-770-7083 360-661-5538 360-202-2859

Shelah Inman Jodi Dynes Ron Wortham Mary Jo Reitsma

360-661-0145 360-333-7783 360-661-1500 360-770-6013

Travis Lohman Tod LeHecka Jan Scally Dale Owenby

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Partner

SKAGIT COUNTY HOME SALES HAVE JUMPED 11.3% FOR FIRST QUARTER OF 2020.

AVERAGE HOME IN SKAGIT FOR FIRST QUARTER SALES WAS $389,000.

STAY SAFE! STAY HEALTHY!

360-661-4533 360-333-1032 360-421-5160 360-913-8662

Dana Holmes Katie Hilsinger Ryan Scally Titus Price

360-770-6716 360-391-3796 425-420-5788 513-259-1534

2001571

Home & Restaurant! Home offers 3BD/2BA, and over 1300 SF of living space. Restaurant is over 2,700 SF with plenty of seating, large outdoor space, ample parking, and views of the Twin Sister Mountains. Great opportunity for someone! $399,900 #1559742

Yvonne Brown Galen Kindred Holly Hilts Jeff Ingman

Joanne Day (360) 661-7119

Welcome home to space and comfort!

Sunny Mount Vernon charmer with incredible views! Enjoy sunsets over the San Juan Islands and valley from your cozy living room with fireplace or in the summer from your outdoor entertainment area! Renovations to this home include hardwood and new floor coverings, and an updated kitchen. Large shop and additional living space. The ultimate in privacy yet minutes from I-5, shopping, schools, and parks! Configured for 3 bedroom however septic system approved for 2 bedroom.

MLS#1568648

37%

360.757.6013 800.869.7084

$499,000

19670 Smiley Drive, mount vernon

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Q&A

Looking to own?

QUESTION:

We live in a high-cost metro area – a very high-cost metro area. The probability of our buying a local home much larger than a birdcage is zero. We’ve decided instead to buy in an area we like and where prices are affordable. It’s roughly a two-hour drive from here and we expect to use it for vacations and as a retirement home. Is this a good way to own appreciating real estate?

ANSWER:

Residential real estate prices in several metro areas are enormously high. A January study by Zillow found 218 cities where the typical home was priced at $1 million or more. A majority of the upper-tier homes were clustered around in such metro areas as San Francisco (46 cities), New York (43), Los Angeles (30), Boston (10), San Jose (10) and Miami (7).

For context, Zillow looked at the pricing in 17,000 cities.

The overwhelming majority had prices nowhere near $1 million. The National Association of Realtors reported that

ASK OUR BROKER

By Peter G. Miller

in January, the typical existing home sold for $266,300.

While it’s certainly good to plan ahead, the idea of buying retirement real estate in a distant location raises several issues.

First, we don’t know that prices in a given area or for a specific property are going to appreciate. The future has an irritating way of producing unexpected results. Several million homes are now underwater, many having never recovered from the housing crash.

Second, there is the distant-home problem. While you’re not at the property, who will look after it in the event of a storm? Trespassers? Speak with an insurance broker regarding coverage.

Third, does it make any sense to rent the distant property?

This can produce income to offset your costs plus – as an investment property – you will be able to write off mortgage interest, property insurance, taxes, repairs and depreciation. A tax professional can provide write-off specifics while local real estate brokers will know about the rental market and can manage the property for you.

Fourth, what if your interests change? It does happen.

The happy place at the beach or in the mountains might become less interesting over time.

Fifth, what if your prime residence is a rental and rents go up? You can still be priced out of the market. Consider the so-called “working homeless,” people with jobs who live in cars and shelters because they cannot afford local apartments.

Not everyone has the income and assets necessary to buy a residence in a high-cost metro area. One result is that zoning laws are being changed to permit ADUs – accessory development units – where only single-family homes were once allowed. ADUs are living units within a home or separate units on a single lot. You might use an ADU as housing for a family member, or you can rent it out. If you had an ADU and the rent it produced, would buying a local home make more sense? Ask local real estate brokers about ADU rules in your community – they may offer a new path to ownership.

Email your real estate questions for Mr. Miller to peter@ctwfeatures.com.

NORTH PUGET SOUND ASSOCIATION of REALTORS® 525 East College Way, Suite J

Mount Vernon, WA 98273

(360) 416-4902

www.npsar.realtor

Memorial Scholarship Available The North Puget Sound Association of REALTORS® is currently accepting applications for the Brandon Koetje Memorial Scholarship, established in honor of Brandon Koetje in 1992. The scholarship amount for the current year is $1000. The purpose is to assist a deserving student furthering their education at an accredited WA State school.

Applicant Qualifications:  Minimum GPA: 3.0  Undergraduate Student (min 1 year secondary education required)  Letter of recommendation from faculty member  Letter of recommendation from sponsoring REALTOR® Member Applications must be received no later than May 8, 2020 for the 2020-2021 school year, and can be found at www.npsar.realtor or by calling the North Puget Sound Association of R EALTORS® at (360) 416-4902.

Mission Statement: The Nor th Puget Sound Association of Realtor s advocates for Realtor s and their clients, and promotes the protection of property rights.

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April 10, 2020

Now could be the time to sell a new home and earn a slice of the real estate pie.

Record-low interest rates and record-low housing prices are renewing interest in the floundering housing market for many people. “When sellers are interviewing real estate agents to market their homes, their primary focus is usually on the advertising that the agent will offer them,� says Jessica Goodbody of Weichert Realtors.

Let us help you meet your marketing goals by advertising your listings in Real Estate Weekly.

Call 360.416.2180 Today!

RealEstate weekly In print and online goskagit.com ads@skagitads.com

April 10, 2020

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Credit scores are rising: That’s good news for home shoppers

by Erik J. Martin ou may not be able to score 60 points in a basketball game like the late Kobe Bryant did in his final contest, or rack up 1,206 rushing yard as a quarterback over a season as the Ravens’ Lamar Jackson accomplished in 2019.

But chances are you’re scoring higher than you think when it comes to creditworthiness—and that can add up to a big win in the home buying game.

Per a new report by Experian – one of the three major credit reporting bureaus responsible for your credit reports – the average credit score was 682 at the close of 2019. That’s an increase of two points from 2018 and the highest mark tallied in eight years. Women best their male counterparts by averaging a credit score of 686 vs. 682,

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and the states with the highest average credit scores include Minnesota (715), Vermont (708), South Dakota (707), New Hampshire (707) and Massachusetts (705). The report also shows that delinquency rates are dropping, on average, suggesting that consumers are handling their debts responsibly.

Mark Hamrick, a senior economic analyst for Bankrate.com in Washington DC, says there are plenty of reasons why credit scores are heading north.

“The factors include an 11-yearlong economic expansion, low unemployment rate, and rising wages. Many Americans have made it a priority to pay down debt,” he says. “And as long as the job market remains firm and inflation remains under control, this positive trend should continue.”

Having better credit is good news for home purchasers, too.

“That’s because the better your credit score, the lower your interest rates in general,” notes Lauren Bringle Jackson, an Accredited Financial Counselor® for Austin, Texas-based Self Financial.

Nathan Grant, a credit industry analyst for Credit Card Insider in Syracuse, New York, says a higher score can result in better terms on financing, higher credit limits and often lower down payments, too. It may help you qualify for better homeowner’s insurance rates as well.

Mortgage lenders value two significant credit scores: the FICO score and the VantageScore.

Each score represents the likelihood that you’ll be able to repay your debts. Your credit score number also serves as a grade

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of sorts of your credit report.

“A poor credit score is generally between 300 to 549 for VantageScore and 300 to 579 for FICO. Respectively, a good credit score falls between 700 to 749 and 670 to 739. Those with great credit scores fall between 740 and 850 with both scoring models,” says Grant.

Minus a good credit score, “it’s unlikely that a buyer can get approved for an FHA loan or other first-time buyer programs,” says Scott Bates, a San Franciscobased financial expert and blogger with MoneyandBills. com. “The minimum score to qualify for programs like these is 580, but a score of 680 or more is better, especially if you want a conventional mortgage and better interest rate offers.”

You may be able to check your credit score for free via your

credit card or bank. Capital One, Chase, American Express, Discover, USAA, and other banks and credit card companies allow their members to view their scores regularly.

“Most major credit card issuers and even some credit unions will let you check your credit scores for free. And you can check your VantageScore with one of the many free services available through companies like Credit Karma, Mint, and Credit.com,” recommends Grant.

While looking at your score can be helpful, it’s also wise to pull a copy of your three credit reports available from Experian, TransUnion and Equifax. You can do this for no charge once a year at annualcreditreport.com.

“Try to check your credit scores and credit reports at least six months before you start house hunting. That way, if you need to dispute inaccurate information or improve your credit before buying, you can,” Jackson explains. “Both disputing and building credit can take months, so the further in advance you start working on it, the better.”

If you have a lower score than desired, take steps to boost it.

“Pay down credit card balances to below 30 percent of your credit limits, as credit utilization is an important factor in determining your credit scores,” Hamrick says.

Additionally, “always make ontime payments, as this accounts for 35 percent of your FICO score alone. And avoid closing credit cards when they are paid off completely,” recommends Grant.

Also, if your credit history is thin, “consider using tools to build it up – such as a credit builder loan or a secured credit card,” adds Jackson.

April 10, 2020

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CLASSIFIEDS PUBLISHER'S NOTICE

All rental and real estate for sale advertising in this newspaper is subject to the Fair Housing Act which makes it illegal to advertise any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin, or an intention, to make any such preference, limitation or discrimination Familial status includes children under the age of 18 living with parents or legal custodians, pregnant women and people securing custody of children under 18. This newspaper will not knowingly accept any advertising for the rental or sale of real estate which is in violation of the law. Our readers are hereby informed that all dwellings advertising in this newspaper are available on an equal opportunity basis.

To complain of discrimination call HUD at (206) 220-5170.

Virus crisis contingency plans for renters Marilyn Kennedy Melia hen paychecks are threatened, businesses’ viability is too.

But landlords – who typically collect a major portion of worker’s pay – are especially vulnerable.

With the Covid19 virus crisis occurring in spring, a popular season for renters to shop for a new place and for current residents to renew leases, the threat looms especially hard on landlords.

That’s why rental firms are striving to make it easier for shoppers who can’t physically visit to garner a realistic view and give current residents who may

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April 10, 2020

not be able to commit to renewing their regular lease options.

Lease Flexibility The apartment business trade group, the National Apartment Association (NAA), is advising its members to consider short-term or month-tomonth leases as an option for residents who “may not have the financial means… to commit to a long-term lease,” said Amy Groff, SVP, NAA. For their protection, landlords are also advised to carefully consider any increases on lease renewals in communities “where occupancy could be an issue because of future

vacancies,” Groff notes.

Lesley Deutch of John Burns Real Estate Consulting adds that anecdotal evidence suggests landlords “are openly discussing this with their tenants, trying to understand what percentage of their tenant base is at risk.”

Virtual Reality It’s typical for apartment firms to have images online, but virtual tours, which provide a better idea of how the size and layout of spaces, are not as common, Deutch notes.

However, some firms are now offering “less formalized” videos at YouTube and other sites, says Groff. Leasing agents

are increasingly relying on phone appointments to answer prospective tenants’ questions about what they still need answered, Deutch adds.

Rental shoppers who worry about not physically visiting should know that prospective renters don’t often see the actual unit they’ll be leasing.

Still, instead, a “model or vacant apartment of the same or similar to the one available for the renter’s moving time frame,” Groff says. Many renters shop 60 days in advance of their move date.

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MANUFACTURED HOME 55+

20542 NELSON LANE BURLINGTON, WA 98233 $45,000 OBO, 840 sq. ft.

2 bdrm./1 ba. single wide manufactured home built in 1990, located in a quiet 55+ community. New (2019) covered deck with back stairs & front ramp, vinyl siding, carpet & laminate flooring, with forced air heating. Storage shed incl.

Located near local amenities & I-5. **FOR SALE AS IS**Washer/Dryer/Fridge incl. Sale subject to park approval. No owner financing. *Space rent-$500/mo. with ReMax Valley Homes. Contact: Tyler 360-770-6865, Tara/Ricky 360-630-9759

Our Circulation Dept. and Classified Dept. phone hours are Mon.-Fri. 8AM-4PM. Our office doors are closed to the public until further notice.

To contact Circulation call 360.424.1900.

To place a classified ad call 360.424.4567. *Daily deadlines apply.

10 - January 29, 2019

7

17180 MEMoriaL HWY Mount vErnon

$425,000

22904 BuMBLEBEE LanE, Mount vErnon

6.98 acre tract zoned Rural Intermediate. Level acreage with great road access both from Memorial Highway and from Avon Allen Road. Stop light and curbs at the intersection. Special Use Permit potential. The Animal Hospital and an espresso stand is across the road to the west. 980 feet along Memorial Highway Danya Wolf (SR-536); 620 feet along Avon Allen Road. 360-708-8294

$598,500

Wonderful finish work in this single story home.

from town. Custom handcrafted, Craftsman home

Incredible two story entry; expansive kitchen

featuring 2278 sqft, office, main level master &

with twin skylights, tiled island, eating area,

a second master upstairs. Dining & living room

pass-through window, large pantry. Cul-de-sac;

showcasing custom stain glass windows. Kitchen

private lot with park like landscaping featuring a

w/granite counters, handcrafted cabinets. Beautiful

waterfall/cascade and pond; Separate shop. Large

oak floors. Detached MIL home is 702 sqft,

RV parking (gated). Wonderful, spacious decking;

1 bed/1bath with a 2 car

and granite tiled walkway leads to

garage. sqft

Separate

shop;

Pond

1080

second gate. Lovely country setting

and

Waterfall. Fabulous home!

Danya Wolf

360-708-8294

just 15 minutes from city amenities.

Elva Hunter

Danya Wolf

MLS# 1587661

360-202-3086

360-708-8294

MLS# 1494916

H strEEt rD., BLainE

$1,800,000 Eighty (80) acres of mostly woods including Western Red Cedar and Douglas Fir, Cottonwood; Alder; and Birch; with one large pond great for duck hunting toward the northerly portion of the 80 acres, some meadows, one small beaver pond, plenty of walking trails or bring your ATV; and an old dug well near the old home site by the southerly edge of the property to the east of the gate.

Future homesite/Pasture land along the southwesterly edge of the property.

Potential for up to 16 building sites. Shown Danya Wolf 360-708-8294 byappointment.MLS#1568051

700 n rEED st., #32, sEDro WooLLEY

$90,000

Well maintained 3 bedroom 2 bath with den manufactured home with vaulted ceiling and large master bed and bath. Wheel chair accessible. Two outbuildings provide lots of storage 12’x12’ with two lofts & 12’x16’. Convenient location, only minutes from Town and 15 Minutes from I-5.

MLS# 1583781 Yolanda Sakuma Carla Fischer 360-421-0435

BuiLD Your DrEaM HoME in EaGLEMont!

$950,000 17211 CHinooK Ct, Mount vErnon

Special property on a very private 1.5 acres minutes

4628 ParKviEW LanE, EaGLEMont

360-982-0010

$689,000

13024 avon aLLEn rD., Mount vErnon

$235,000 1611 E Division st., Mount vErnon $1900/Mo

1760 s BurLinGton BLvD, BurLinGton

$600,000

CommerCial lease Zoned "Rural Business," this 33/100 acre tract has great visibility and is located on the southwest corner of Hwy 20 and Avon Allen Road. Location of former Valley Cafe prior to Department of Transportation enhancing the size of Hwy 20. Stoplight and cross walk is adjacent. Great location for Espresso Danya Wolf stand or similar business. MLS# 1571644 360-708-8294

320 MoorE st., sEDro WooLLEY New

Ce Pri

$395,000

Sold

Great visibility commercial property: plenty of parking; former auto sales; small storage building in back. Property is set up for offices on main level with basement access from both inside and outside. Second story offers two additional rooms, one with a sink.

Danya Wolf

MLS# 1560401

LaKE tYEE

1551673 0 N Tillcum Loop #3B78, Lake Tyee $24,500.00 1551671 45232 Nesika Trail #2D36, Lake Tyee $39,500.00 1446939 45249 Nesika Trail #2D33, Lake Tyee $52,000.00 1451178 45297 Kamooks Trail #2D21, Lake Tyee $16,000.00 MLS# 1573592 45016 Kachess Trail, Lake Tyee $60,000.00

Sold

Charming home with lots of character inside and out. Abundant natural light, tankless water heater, spacious kitchen, metal roof. Park like setting for entertaining around your unique outdoor fireplace and gazebo with hot tub. Plenty of garden space and outbuildings.

Separate lot included with tons of potential: mixed use zoning commercial/residential.

Carla Fischer Suzanne Jenkins MLS# 1529755 360-941-2983 360-982-0010

7308 HoBson rD., BoW

Commercial/professional/medical/ office space for lease. Great location, high visibility near Skagit Valley hospital. Former location of ESP optical, includes display cases (optional).

Exam room, large lobby area, one bathroom, office area with sink. Ample off street parking.

Danya Wolf Carla Fischer MLS# 1546389 360-708-8294 360-982-0010

360-708-8294

Sold

MLS# 1573591 45038 Sikhs Trail, Lake Tyee $15,000.00 1559192 45104 Kachess Trail #3C21, Lake Tyee $39,900.00

A beautiful recreational resort community w/newly remodeled club house, 2 pools, 2 hot tubs, basketball court, tennis courts, beach, boat launch, hiking, fishing and so much more.

Owners may utilize the property any 210 days in a calendar year.

Sherry Ruderman

360-540-1552

$235,000

for voting US “2019 Skagit’S BeSt” 4629 BEavEr PonD DrivE s.

Eaglemont Golf Community offers an 18 hole Championship public golf course, Clubhouse and Fitness Center, enjoy dining at the Fireweed Restaurant and Lounge with fabulous views and sunsets!

MLS# 1504177

$115,000

Elva Hunter

360-202-3086

Brand new home in sought after Eaglemont Golf Course Community! Luxury living in this custom 3,315 sq.ft. home, light and bright 4 bedroom 3 1/2 bath. Lg kitchen w/SS appliances, granite counters & island. Great room w/gas fireplace, deck overlooking nature.

Main floor living w/master & bath w/jetted tub, shower & walk-in closet, utility room. Upstairs w/2nd master & bath +2 bedrooms. Additional SF downstairs ready to complete, AC & tankless water Elva Hunter heater. Situated on a quiet peaceful street!

360-202-3086 MLS# 1405852

Great location off of Bow Hill: lightly treed 4.27 acre tractonHobsonRoad,southofSamishHeightsRoad; and located on the west side of the street.

Level, beautifully treed building tract with wonderful sunsets. Power at road.

Danya Wolf 360-708-8294 MLS# 1572369

360.424.0300

2 YEArS BESt rEA rEAl EStAtE officE, MoSt coMMUnitY MindEd BUSinESS

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 2001595

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