Real Estate Weekly: May 6, 2022

INSIDE

This Issue WANT TO WIN THAT HOME FOR SALE? GET PREAPPROVED ASAP PAGE 5 55 PLUS COMMUNITIES ENJOY BOOMING INTEREST PAGE 7 CLASSIFIEDS PAGE 7 MAY 6, 2022

INSIDE

TABLE OF CONTENTS

PAGE

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Want to win that home for sale?

Get preapproved ASAP..............................................P5 Q&A

Ask Our Broker.......................................................................P6

55 plus communities enjoy booming interest.............................................P7 Classfieds.............................................................................P7

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

that all dwellings advertised are available on an equal opportunity basis.

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May 6, 2022

STAT Real Estate Stat

-2.7%

Real Wood Real Quality

Month-over-month, sales in March 2022 waned in three of the four major U.S. regions while holding steady in the West. Sales were down across all regions year-over-year.

Monday - Saturday 9:30-5:30

Dining | Bedroom | Entertainment | Home Office | Upholstery

NORTH PUGET SOUND ASSOCIATION of REALTORS®

FEATuREd PRoPERTY:

525 East College Way, Ste J, Mount Vernon, WA 98273

18849 CASCAdE RidgE dRiVE, MounT VERnon

Tel. 360-416-4902

www.npsar.realtor

Hablar Alto - Detén la Discriminación Que es discriminación de vivienda? La ley de discriminación del estado de Washington protege a personas contra acciones negativas que ocurren por la clase protegida de la persona. En La Compra Y Venta de Vivienda: Nadie puedo tomar las siguientes acciones basado a clase protegida: 

Negar participación en una transacción



Negar negociaciones de Vivienda



Establecer diferentes términos y condiciones o privilegios para comprar o alquiler de vivienda



Proporcionar diferentes servicios o instilaciones de vivienda



Negar que la vivienda está disponible para inspección, venta o alquiler ·Hacer que una vivienda no esté disponible



222414-1

Source: National Association of Realtors

919 Riverside Dr. | Mt. Vernon www.nwff.com | 360. 424.8455

Persuadir a los dueños de vender o alquilar el espacio por beneficio propio Anunciar o declarar algo que indique limitaciones o preferencias basado en clase protegida

Ver más en: https://www.hum.wa.gov/fair-housing

$835,000

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

Danya Wolf (360) 708-8294

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 deck 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.

MLS#1922531

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.

May 6, 2022

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

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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!

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

a f j t f t a t p w

i c s p l May 6, 2022

is typically good for 90 days.

The lender should provide a preapproval letter that you can show to the seller or their agent. If you don’t find a property within the 90-day window, you can ask your lender for an extension and a fresh letter.

Be aware that a preapproval will typically involve your lender pulling your credit reports, which results in a hard check that can ding your credit, temporarily reducing your credit score.

“The one benefit here is that your lender may indicate issues on your credit reports, including mistakes that you can catch and fix before getting too deep into the home buying process,” says Zeff.

The steps involved with getting a mortgage preapproval are pretty straightforward, according to Ferro. First, speak with a mortgage lender and prepare to review your qualifying income, after which time you can receive an interest rate quote. Complete the lender’s online application or properties, and losing time in the process costs money,” via phone. Email all necessary documents to the lender adds Ferro.

It’s best to get preapproved that they request, possibly including bank statements, early in the process. several weeks of paystubs, “Sometimes people begin and tax returns. If you are shopping for a home prior to getting their preapproval preapproved, a preapproval solidified. This is risky letter will be generated based because it is always possible on your current income and that, in doing so, you will debt-to-income ratio. look at homes too far above “When you’re looking to get or below what you can afa preapproval from a lender, ford,” David Zeff, a realtor never shop them solely on in Gaithersburg, Maryland, the interest rate quoted,” sugcautions. “Additionally, if there are things that need to gests Gelios. “That rate will change, because it takes time be worked on to strengthen to locate a home. Also, lendyour preapproval, it’s better to do that before getting too ers often advertise a lower rate that attracts applicants, involved in a home purbut that rate often comes chase.”

A preapproval from a lender with more closing costs.”

Want to win that home for sale?

Get preapproved ASAP

lender has reviewed the income financials of a borrower and has determined they are eligible for a mortgage. This uyers hungry for is usually done by reviewing a home need to pursue every possible income documentation and pulling the borrower’s credit advantage – and even hope reports,” says Alejandro for a bit of luck along the journey. That’s because trying Ferro, a realtor, mortgage to outmaneuver rivals vying loan originator and property for the same available proper- investor in Chicago. “The file goes to underwriting and ties and getting your offer accepted by a seller continues is reviewed by loan underwriters to determine exactly to remain as challenging as what you can afford and how predicting Bitcoin’s future much money you are eligible worth. to borrow.”

But you can significantly Note that a preapproval is improve your odds, the pros not the same as a prequalificoncur, by taking a simple step early in the process: Get cation. The latter is simply a preapproved for a mortgage quick review of your financials without processing or loan. verifying your credit reports “A preapproval is when a

By Erik J. Martin CTW Features

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May 6, 2022

or other documentation.

“Comparing a preapproval to a prequalification is apples to oranges because a prequalification is merely a conversation or vague offer of financing, while a preapproval indicates a solid commitment from the lender to offer financing for a loan,” Jason Gelios, a realtor in Southeast Michigan, notes.

Getting a preapproval is crucial, particularly in the current dog-eat-dog housing market.

“It’s important to know what you can afford as a buyer. Understanding the mortgage process, the documents necessary and the steps to closing is essential when buying a home, which

a preapproval will prepare you for,” says Jeffrey Loyd, principal at Mortgage Acuity in Hackensack, New Jersey.

“More importantly, many realtors and sellers want to see a preapproval before showing you homes, as they want to ensure you are a qualified buyer.”

Ferro says being preapproved saves everyone time and eliminates financial concerns.

“As a licensed realtor, I would not show any house to a potential client without having a preapproval or proof of funds. I would not want to waste anyone’s time without knowing if they can actually purchase the property. Driving around, viewing

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Mortgage rejection & credit rescores Question:

We applied for a mortgage and were rejected.

The problem was too much debt. Now our parents are willing to step in and give us a gift to pay off a few smaller bills, enough to help us qualify. It will take a month or two to get our credit score changed to reflect less debt. Is there a way to speed the process so we can try again with the lender?

Answer:

This may have been a preventable matter. Had you gotten pre-approved by a lender several months before house hunting, the lender could have computed your debt-to-income ratio (DTI) and reported any issue. You would then have had more time to pay down the balances from your own funds or – if they were willing – with parental help.

Since you have the ability to pay down debt with gift money, you should go back to the lender and ask if it makes sense to get a rapid rescore. This process may allow you to update

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your credit score in three days to a week.

A rapid rescore is not a credit cure-all. If you have late or missed payments, they will still show up on credit reports. However, lower debt balances will give you enough of a credit jumpstart to satisfy the lender, then a rapid rescore may be helpful.

Some points.

You can’t order a rapid rescore directly from a credit reporting agency (CRA), you must go through a lender.

The lender cannot charge for a rapid rescore.

This means the lender must absorb rescore costs. How will the lender get the money back?

By closing the loan and collecting the usual assortment of fees and charges.

A rapid rescore program is best-used when there’s a simple fix and the need is to close a small credit score gap.

To benefit from a rapid rescore the debts you reduce or pay-off must be reported to the CRA. It might seem as though a rapid rescore is a matter between you and the lender, but in

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Q&A

ASK OUR BROKER

By Peter G. Miller

practice that may not be the case. If you’re a buyer, then there is a seller involved, maybe because there’s a requirement in your offer to have financing within a given period. The lender may have to close by a certain date for you to obtain a rate lock-in.

There may also be other buyers in the mix.

For instance, are there one or more back-up purchase offers? Do the seller or sellers have a kick-out clause allowing them to terminate your offer without penalty so they can move on to another buyer?

Back-up offers are common in many markets.

For instance, Redfin reported that in February almost 70% of the offers written by its agents involved multiple bids.

Lastly, make sure that an application delay does not put your deposit in jeopardy. For details and specifics, speak with your real estate broker or an attorney.

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

May 6, 2022

RENTALS Apartments Unfurnished

NEW TODAY Alpine Ridge Retirement Apartments in MV is accepting applications for 2 Bdrm apts. Income limits apply. 360-424-9622 for more info.

Don’t take a chance with your fortune

55 plus communities enjoy booming interest By: Marilyn Kennedy Melia CTW Features Baby Boomers are now senior citizens, with the older edge in their seventies. But “they see themselves as younger,” says Deborah Blake, principal of consulting firm Ipsum Group.

That mindset, along with the sheer numbers of Boomers, is driving an uptick in “55 Plus Active Adult “communities. While 55 is the advertised age minimum, new entrants to these communities are usually in their sixties or seventies.

Although frequently located in the Sunbelt, 55 Plus communities are also in the Midwest and Northeast, reflecting the priorities of Boomers, who “live there for the lifestyle but also want to be near where their grandkids live,” says Lesley Deutch of May 6, 2022

John Burns Real Estate Consulting.

Offerings will increase, predicts Blake, because “there isn’t a builder who isn’t figuring out how to deliver what Boomers want.”

Here’s an overall look on some of the current trends: Activities and socialization are the draw.

Classes and group activities are staples offerings, but some communities emphasize nature, wellness, among other niches. Since the pandemic, says Blake, outdoor kitchens and spaces for parties are increasingly popular, since 55 Plus residents want to socialize.

Single women like the security.

Gated communities and neighbors who look out for you are drawing lots of divorced and widowed Boomers, says Blake.

Renters are welcome.

Although many entrants to 55 Plus

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communities have made a tidy profit from selling their home that they put into their purchase, many communities are adding rental units for those who don’t want to tie up their funds in real estate.

Older Boomers prefer 55 Plus to assisted living.

For young thinking seventy-somethings, living where all maintenance is provided, along with socialization, is much preferable to assisted living arrangements that require at least one communal meal, and are connected to nursing facilities.

Big, small, and in-between.

Although many popular communities are large, often with a mix of housing styles, Blake says that micro 55 Plus developments are popping up. The site 55places.com offers a good look at current options, she concludes.

Sell your items for what they’re worth CLASSIFIEDS

7

5706 312th St nW, StanWood

$700,000

OPEn HOuSE, SAT. MAy 7, 11AM-2PM Peaceful & privately set triple wide manufactured home on this 10+ acres. This beautiful home is tucked away; quiet and conveniently located to all amenities & main roads. Inside you’ll find lots of natural light, spacious rooms including a large kitchen. Primary suite has a huge walk-in closet.

Laundry room has plenty of storage. Expansive deck is perfect for enjoying the sun or entertaining.

MLS#1927162

Carla Fischer (360) 982-0010

Real Estate Office Customer Service goskagit.com/bestof2022

Patricia Box Buyer’s Agent (360) 941-9186

60102 StatE routE 20, MarBlEMount $790,000 Mondo is a well established and well loved Korean and American family restaurant at the foot of the Cascade Mountain Range. Locals and travelers make this part of their Hwy 20 and North Cascade National Park trip. Major arterial choice to Newhalem and continue on to Winthrop; or cross Skagit River bridge and continue up to Cascade Pass and hiking to Stehekin.

Restaurant is warm and inviting, with incredible fare. Very spacious dining area. Some outside seating available. Small gift shop area. Kitchen is beautifully remodeled.

Danya Wolf (360) 708-8294 MLS#1926413

23952 n. WEStViEW rd, Mount VErnon $1,100,000 55’of WatErfront 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 enjoy rain or shine.

Danya Wolf (360) 708-8294 MLS#1927143

1564 h StrEEt rd, BlainE

1413 E CollEgE Way, Mount VErnon

2017 ContinEntal PlaCE, SuitE #5, Mount VErnon

$4,000/Mo

Still time to choose your interior colors.

We use Behr brand paint, please visit behr.com/onecoatneutrals, to select your color. 3200 sq. feet, 9 offices/conference rooms, work area; lunch room; reception/ waiting area; natural gas forced air heating; air conditioning; 3 restrooms; new flooring. Or lease portion of building.

Danya Wolf

(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

Carla Fischer (360) 982-0010

1419 E CollEgE Way, Mount VErnon

$1,200/Mo

Fantastic Opportunity! Commercial space for Lease Great stand-alone building with 3 offices. Handicap accessible; remodeled. Convenient location, easy access for commuting. First month’s rent and deposit equal to one month’s rent. Tenant pays Danya Wolf utilities.

(360) 708-8294

Elva Hunter (360) 202-3086

John Hunter (360) 202-3086

$1,200/Mo

Conveniently located office space for lease features large lobby area and two private office spaces. Ample parking. Monthly rent includes sewer/water/garbage. First month’s rent and Damage/Security deposit equal to one month’s rent.

MLS#1922493

Suzanne Jenkins (360) 941-2983

360.424.0300

$1,150,000

Eighty (80) acres with development potential of multiple building tracts. 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 home site/pasture land along the southwesterly edge of the property.

Danya Wolf Shown by appointment. MLS#1925565 (360) 708-8294

Phil LaMay (360) 840-3086

Russ Lanker (360) 708-1117

Brett Tacker (360) 840-7931

Danya Wolf (360) 708-8294

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

3780 E. College Way, Mount Vernon www.skagittraditionrealty.com 214419-1

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