Real Estate Weekly, July 29, 2022

INSIDE

This Issue HOBBY-FOCUSED HOME SEARCH PAGE 5

GAMBLING TO WIN A LOWER RATE PAGE 7 CLASSIFIEDS PAGE 7

JULY 29, 2022

TABLE OF CONTENTS Hobby-focused home search.................................P5 Q&A Ask Our Broker ......................................................................P6

Gambling to win a lower rate ................................P7

INSIDE

Classfieds ............................................................................P7

PAGE

5

RE-Weekly To advertise in RE-Weekly or other Skagit Publishing publications, Call: 360.416.2180 or Email: ads@skagitads.com ©2022 by Skagit Publishing | All rights reserved.

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

Mount Vernon, WA 98273 (360) 416-4902

www.npsar.realtor

3710 MohAWk CouRT, MounT VERnon

The Term REALTOR® The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® (NAR) and subscribes to its strict Realtor Code of Ethics.

Local associations are required to enforce the code of ethics through a Professional Standards Council or Committee.

The REALTOR® Political Action Committee (RPAC) fights for Homeowner and property rights in Washington DC, Washington state and right here in your community.

Using a designated REALTOR® assures that your transaction in handled ethically, and that your rights will be protected now, and in your future as a homeowner.

To find a REALTOR® member in your area, www.npsar.realtor to view our member and affiliates lists.

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.

FEATuRED PRoPERTY:

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

that 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.

visit

Skagit Tradition Realty LLC 3780 E. College Way Mount Vernon, WA 360-424-0300 www.skagittraditionrealty.com

$790,000

Danya Wolf (360) 708-8294

Property is beautifully unique and there is no close comparison. Spectacular views from most every room in this excellent and unique Dan Estabrook built custom home: amazing attributes throughout including outstanding kitchen features Thermador Professional oven with extra burners and griddle; oak cabinetry; generous size closets (signature Estabrook); rooms positioned for optimal views throughout the well designed home. Primary bedroom offers walk in closet, en suite with double sinks, separate shower, and jetted tub. Second full bath also offers two sinks. Total of four bedrooms plus amazing, extremely spacious office nicely separate from the main part of the home. Air conditioning. High speed internet. Built in Bose speakers and stereo. Large utility room has deep sink. 960 square foot garage could accommodate four vehicles if placed tandem. Situated on .65 acre.

MLS# 1975189

Mission Statement: The North Puget Sound Association of Realtors advocates for Realtors and their clients, and promotes the protection of property rights.

2

RE-Weekly

July 29, 2022

STAT Real Estate Stat

-5.4% Existing-home sales fell in June 2022, with declines in three out of four major U.S. regions month-over-month and down in all regions year-over-year.

Source: National Association of Realtors

own the local real estate market expand your reach when you combine the power of our digital audience and premium print ads in the re weekly ask your multimedia account executive for details.

ContaCt: 360.424.3251 • ads@skagitads.Com July 29, 2022

RE-Weekly

3

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

t s h r t y

Record-low interest rates is renewing interest in the 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

n a d l a c a t f w t p

c 4

RE-Weekly

July 29, 2022

the residence to accommodate your passion.

“What may be a joy today could become a stressor later in life when a home or location is built around one specific thing. It could be difficult to sell due to the specific nature of the home or location,” adds Smith.

Shmuel Shayowitz, president/chief lending officer for River Edge, New Jersey-headquartered Approved Funding, recommends first renting a home in the area where you will indulge in your passion or hobby.

“By exploring the area without a substantial financial commitment, you are not trapping yourself in a location that might not suit your long-term goals or objectives. Alternatively, if you can monetize your hobby or personal interest, that might be a compelling reason to invest in homefect garage or space than carefully about futureownership without the risk proofing your next location it is to find the perfect of anchoring yourself fiproperty that someone for fun and recreational nancially in a geographical else designed. Location is area,” Shayowitz advises. pursuits. almost the only thing you “Buyers may be more Remember to put a pascannot change in a home, time into proper perspecengaged in a particular but everything else can be tive and priority, too. community if there are changed,” explains Smith. activities that they may “Location should be learn to enjoy and they can If you are thinking about goal number one when purchasing within a home- purchasing a home, and meet neighbors with the owner’s association, check same common interests,” price should rank number she adds. “But consider the covenants and restrictions two. Safety and growth distance to those activities thoroughly to ensure your of an area can fluctuate, before purchasing a home. pursuit is allowed on or but picking a home based near the premises.

A bigger or newer home may not always be better in “If your passion is horses, on these factors is usually but there are horse restric- next on the list,” Smith the long run if you aren’t tions, you might find this continues. “Traditionally, close to the places and out too late when review- choosing a home based pastimes you enjoy.” ing homes on the market,” around a hobby has been Additionally, before a very low priority in my choosing a property, deter- Smith cautions. experience, but I see that mine if and how it can be Think hard, too, about shifting to a higher priority modified and updated to how devoted you will fit your hobby, if necessary. remain about your hobby now and expect the same “It is sometimes much in the coming years, espe- in the future.” cially if you plan to modify easier to build the per-

Hobby-focused home search

Choosing a home and location based on your hobbies

hobbies and passions when purchasing a home, no matter what stage of life they are in,” suggests They say home is where the heart is – or at least it Lauren McKinney, a Realshould be, especially if you tor with Beverly Hanks have a hobby, pastime, or & Associates in Asheville, North Carolina. “With recreational activity close more people working from to your heart and which home than ever, they often you can’t live without.

Many home buyers don’t have extra time for hobbies. And those near retirenecessarily ponder how ment want to be close to amenable their next resiwhat they enjoy. Whether dence will be to a passion walking your dog to a dog like arts and crafts, making park, enjoying boating and recording music, with friends, or hosting collecting, or engaging in an elaborate Halloween an outdoor pursuit. But display on your property, the experts agree that this keep these activities in factor should be strongly mind when searching for a weighed before commithome.” ting to a move and home Robert Smith, broker/ purchase. owner of Knoxville, “Home buyers should Tennessee-based Brick & carefully think about their Mortar Properties, echoes

By Erik J. Martin CTW Features

July 29, 2022

those thoughts.

“It’s becoming more common now that buyers have flexibility in their work schedules to purchase a home based on personal interests rather than proximity to their office. I feel that this will continue to be the case. I’m also seeing this in empty nester buyers who don’t need as much space and can focus more on hobbies and personal interests,” he says.

The money saved purchasing a home in a location that isn’t conducive to a favorite hobby or activity may not be worth it, cautions McKinney. And even if you don’t currently have a preferred pastime, your next home may present more opportunities for hobbies nearby, so think

RE-Weekly

5

Parental Advice:

when to speak your mind Question:

Our son and his wife want to buy a first home and are looking at properties we regard as very expensive.

Affordability is not an issue – they both have great jobs and earn a lot more than we did at their age. We are certain they can qualify for a mortgage; however we think that a big house will also mean a big mortgage and the result will leave them house poor. Are we right to tell them about our concerns?

Answer:

Being “house poor” is a real problem, a financial condition where so much is spent each month on housing that little money remains for everyday costs. Even for households with big incomes, being house poor is entirely possible if monthly shelter costs are excessively large, a job is lost, or income declines.

The general difficulty is that we now have a combination of home prices and mortgage rates that are substantially higher than just a year ago. This combination plays havoc with household budgets.

For example: In April 2021 the typical existing home cost $340,700 and grew to $391,200 this April, according

6

to the National Association of Realtors. That’s a $50,500 increase in just 12 months. During the same period, according to Freddie Mac, monthly interest rates went from 3.06% to 4.98%.

There are several issues to consider here.

First, it’s not surprising that your children appear to earn as much or more than you did at the same age. That’s because inflation has eroded the buying power of dollars.

Let’s say you’re now 65 and first entered the workforce in 1977. Back then, roughly $20,800 would have had the same buying power as $100,000 today.

Second, your son and his wife are adults. They are employed and have good incomes. How they spend their money is their business. If your concern is to be discussed at all, then tact, discretion, and family dynamics are important.

Third, if you’re helping with the purchase, then the conversation is different. You have a financial stake in the transaction if you are giving them some of or all of the down payment or if you are acting as a mortgage co-signer. You have a clear right to express your concerns

RE-Weekly

Q&A

ASK OUR BROKER

By Peter G. Miller if your cash or credit are involved. But – again – tact, discretion, and family dynamics are important.

Fourth, is there something the couple will be unable to do financially as homeowners? Do you know enough about their finances to be certain a problem might really exist? What happens if they lose a job? Do they have savings? Can they continue to build savings if they buy in the proposed price range?

Fifth, if not a home in the price range they’re considering, what alternatives can you suggest?

Financial discussions within families include dollars and often unspoken issues such as ego and status.

Handle with care. The real issues here may be as much psychological as financial.

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

July 29, 2022

REAL ESTATE FOR SALE Houses for Sale

NEW TODAY

425 East Jones Road in Sedro-Woolley, WA Brand new 3 bedroom, 2 bath, 6,000 square foot lot. 2 decks with partial fencing, 2 car concrete spaces, and birch trees.

Ranch Rambler. In a nice neighborhood.

Asking $425K. 360.630.4219. or email gwhiggins77@gmail.com

Gambling to win a lower rate

By Marilyn Melia Kennedy CTW Features Back in early July of this year, mortgage rates were roughly double where they sat at the same point in 2021.

But the path to today’s loftier level hasn’t been a straight ascent up. “Rates move when the financial markets move, “explains Jeffrey Loyd, of Mortgage Acuity in Hackensack, NJ. For instance, when serious inflation looks less likely, rates could drop .2% in a short span.

On its face, a .2% drop seems insignificant.

But with the National Association of Realtors estimating that average monthly costs rise about $400 for each percentage the rate rises; a drop of .2, or one-fifth of one percent, is worth about $80 monthly.

July 29, 2022

Often, explains Timothy Johnson of Warshaw Capital, Stamford, CT, when a borrower submits his complete loan application to a lender, the prevailing rate at that time is “locked” until the scheduled closing – which might be 30 or 45 days away.

But borrowers have the option of waiting to lock, hoping that a dip occurs before closing that they can pounce on. That’s a big gamble in today’s rising rate environment, notes Keith Gumbinger, of mortgage data site HSH. com. Johnson agrees with this sentiment: “In a market where the rates are falling, like they were in 2020, it wouldn’t make sense to lock immediately.”

Some banks and mortgage lending firms offer a “float down option”, which allows borrowers to

RE-Weekly

initially lock in the prevailing rate, but automatically lock again if a specified size drop, like .2%, occurs before closing.

There’s a cost for this privilege, however, and borrowers need to calculate how long it would take to recoup that cost if the option is triggered, says Gumbinger. For instance, if a float down lock costs $1,500 and saves you $23.75 monthly if it’s triggered, it would take 63 months to break even. If you’re planning on moving again soon, it’s not worth it.

And, if rates never drop to the trigger level, the borrower is out the option fee. “The less a floatdown option costs, the more value it can offer … and there’s less to lose,” says Gumbinger.

Get rid of that old car!

Sell it in the Classifieds!

Ads with a price ALWAYS generate more qualified calls!

7

23952 noRth West VieW Rd, mount VeRnon

55’WateRfRont

$1,100,000

View, view, view! This spacious 2260 sq.ft home on the sunny side of Big Lake has spectacular views from almost every room. Features include a multi-level deck, aggregate patio and private dock. So many opportunities for just relaxing or entertaining guests. Home offers 2 beds/ 2 baths, kitchen with pantry, SS appliances, lots of cabinetry, a peninsula, just add a couple stools to enjoy a little chit chat while preparing a meal. Laundry room has multiple cupboards and a sink.

Unfinished 936 sq.ft basement affords more room for storage. From the kitchen step down to the living room with large windows to take in the view, then out the French doors to the partially covered deck, yours to Danya Wolf (360) 708-8294 enjoy rain or shine. MLS#1927143

21290 Lafayette Rd, sedRo-WooLLey

imPRoVed PRice $339,000 Beautiful wooded 4.98 acres situated on south side of Snohomish County/Skagit County line.

Power is in street. Solar power is also possible.

Adjacent property to the east of Subject Property is fenced, open field. Zoning allows for one building site. Stanwood-Camano School District; and just ten minutes to I-5. Great country living yet convenient for Danya Wolf commuting. MLS# 1841822 (360) 708-8294

Patricia Box Office Manager O: (360) 424-0300 C: (360) 941-9186

JoAnn Boudreau (360) 391-0746

Juanita Bunch (360) 941-5530

Ready to Build with power, water, sewer and natural gas in the street. Build your dream home in Nookachamp Hills, a desirable community in the foothills near Big Lake. Enjoy walking/biking the trails and swimming/ fishing in the community’s small private lake/pond.

Jenkins Carla Fischer MLS#1970439 Suzanne (360) 941-2983 (360) 982-0010

$575,000 1 mountainVieW Rd, mountVeRnon

Possible seller financing with large down payment.

Shy 20 acres of farmland with deluxe triple-wide 2150 sq.ft. manufactured home. Portion of acreage is leased year to year to local farmer (about $4500 per year). Pole barn/garage w/attached carport and separate shop.There is garden space and fruit trees, several smaller outbuildings, including starter greenhouse and deck.The home offers a large kitchen with island, pantry, and nook with bay window overlooking farmland. High ceilings and open feel floor plan. Free standing wood stove supplements forced air heat. Primary bedroom has walk-in closet and private bath.There are two more bedrooms, a den, and another full bath to complete this home. Lots of parking for Carla Fischer you and your guests. MLS#1905659 (360) 982-0100

20787 BuLson Rd, stanWood

nookachamPs hiLLs dRiVe Lot 133, mountVeRnon $230,000

Carla Fischer (360) 982-0010

$115,000

Located just outside the Mount Vernon City limits, this wooded 1 acre plus lot could be a building site for a stick built, modular, or manufactured home, with plenty of room. Tract has been surveyed and wetlands have been delineated. Power and PUD water are available at the street. Perc test performed/3 bed septic possible, permit#SW22-0073 Danya Wolf (360) 708-8294 MLS# 1861233 14903 Rustic Lane, concRete $65,000 Two very well maintained, level lots. Bring your camper, fifth wheel, RV or tiny home.

Great location for year round residency or weekend /vacation getaways.

Shared well, power available at street.

Patricia Box MLS# 1951005 (360) 941-9186

Elva Hunter (360) 202-3086

John Hunter (360) 202-3086

1207 Jameson st., sW

OPEN HOUSE • Saturday, July 30th, 11AM-1PM Vintage one level 2440 sq ft, 4 bed/1.75 bath home on quiet dead end street. Home features beautiful hardwood floors, a free-standing pellet stove and a pellet insert. Bonus space/room near bedrooms has built-in desks and storage. Formal living room, dining room and an eat-in kitchen w/window into family room featuring counter space to fit a couple of stools.

Primary suite has walk-in closet, private bath and an extra room that offers an option to work from home with an exterior door providing a separate entry for clients/customers. Fully fenced front and back yards w/mature landscape, covered ‘patio’ Carla Fischer Patricia Box (360) 941-9186 (360) 982-0010 space off the family room. There is an outbuilding for hobby or BuyeR’s aGent workshop. Garage wired for generator, driveway has plenty of extra parking. MLS#1957623

18849 cascade RidGe couRt, mount VeRnon

imPRoVed PRice $775,000

Conway schools; extremely well cared for rambler on 2.77 park like acres just ten minutes from I-5.

Beautiful country kitchen with adjoining family room plus separate formal dining and living room provide extra options for entertaining.

An open floor plan provides a gracious transition from area to area. Primary bedroom offers spacious bath with double sinks and generous sized walk in closet. Heat pump. 3 bedrooms; 2 baths; separate laundry area with deep sink. Space leveled and prepared for future work shop. Meticulously designed for outside entertaining with patio and incredible focal points.Well-appointed greenhouse; and fruit trees. 3 car garage (800 square feet) & RV parking.Visiting wildlife: deer; eagles; and more. Cul de sac street.

Danya Wolf (360) 708-8294 MLS#1922531

1307, 1309 and 1311 oLymPic Lane, mount VeRnon

$139,000 ea.

Each Lot is listed at only $139,000 Ready to build your home in beautiful Eaglemont, lots have all city utilities, you just need to bring your plans and permits. Only a few lots left in Eaglemont! 3 lots side by side, great opportunity for a builder. MLS#1953889, 1307 Olympic Lane; MLS# 1953896, Elva Hunter 1309 Olympic Lane; MLS#1953900, 1311 Olympic Lane (360) 202-3086

Suzanne Jenkins (360) 941-2983

360.424.0300

imPRoVed PRice $515,000

Phil LaMay (360) 840-3086

Russ Lanker (360) 708-1117

Brett Tacker (360) 840-7931

Danya Wolf Designated Broker/ Owner (360) 708-8294

3780 E. College Way, Mount Vernon www.skagittraditionrealty.com 249787-1

8

RE-Weekly

July 29, 2022