Real Estate Weekly May 29, 2020

INSIDE

This Issue

KEEPING YOUR REFINANCING ON TRACK PAGE 5

TRYING TO SELL A HOME NOW? PAGE 7

CLASSIFIEDS PAGE 7

MAY 29 - APRIL 4 , 2020

RE-Weekly.com

TABLE OF CONTENTS Q&A

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

Keeping your refinancing on track.....................P5 Trying to sell a home right now?..........................P7

INSIDE

Classifieds............................................................................P7

PAGE

7

RE-Weekly.com 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.

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

360.757.6013 800.869.7084

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

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Enjoy one level living in this custom-built rambler featuring open floor plan & all-inclusive kitchen. Lots of natural light & a very private backyard boarded by a greenbelt. Enjoy the security & community amenities of Shelter Bay! $285,000 #1562486

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Cozy country home on 3+ acres. Great kitchen & appliances stay. This home features 2BD/1BA and has a new 850 SF shop, mature landscaping, greenhouse, additional workshop building, and plenty of room for parking and your RV. $327,000 #1600022

Yvonne Brown Galen Kindred Holly Hilts Jeff Ingman

2

Partner

So

Waterfront living on the shores of Samish Island. One acre, 4000+ SF stunner is premiere beach living! Open concept living, gourmet kitchen, 3BD/3.2BA, & outstanding views. Huge deck w/ample covered outdoor living, hot tub, & outdoor kitchen. $1,995,000 #1602192

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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.

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

Now’s your chance to enjoy living on beautiful Samish Island! Build your dream home on this .24-acre parcel. Peek-a-boo saltwater view, Nice, peaceful area, and a short walk to the water. $168,000 #1590794

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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REAL ESTATE FUN FACT: IN THE LAST WEEK IN SKAGIT COUNTY THERE HAS BEEN 34 NEW LISTINGS, 67 PENDINGS, AND 19 SOLD HOMES. LIST/SELL YOUR HOME TODAY!

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

2008817

W NE

LIS

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

May 29, 2020

FEATURED HomE FRom covER: $589,000

Skagit Tradition Reality 3780 E. college Way mount vernon, WA 360-424-0300 www.skagittraditionrealty.com

Real Estate Stat

DAYNA WOLF (360) 708-8294

Beautifully wooded, open park-like 10-acre future development property with existing investment income of $1,750 per month from rental of 3-bedroom, 2-bath home on one acre.

Total 10 acres are perfect for future private higher-end homes or Planned Unit Development. Amenities include: Public Utility District water, Cascade Natural Gas, Puget Power (Puget Sound Energy), high speed internet, city garbage pick-up and access to city sewer. MLS# 1569455

35

The average hours per week that realtors worked in 2018 Source: The National Association of Realtors

2008908

STAT

3789 E. Division strEEt, Mount vErnon

american dream real estate services, inc.

2 bedroom condo Northridge Elegant in craftsman built home with 4 bedrooms and 3.25 bathrooms bring country style charm w/modern MLS#1511968 • $198,000

amenities. 4103 sq. ft. home and detached garage with 468 sq.ft. office & half bath above. Large Master Suite.

Elevated territorial views of the west. Finished basement rec room. Lower utility room with workshop and storage space. Impressive hydronic heating. Large 30x40 ft foundation pad ready for workshop or other ideas with utilities already installed. Close to downtown.

MLS#1461585

Impressive hilltop estate on Scott Mountain overlooking the Skagit Valley, Olympic Mountains, and San Juan Islands. This Tuscan character home was designed for entertaining w/multiple living spaces that would share the beauty of this incredible area. The road Terrific condo in one of Mount Vernon’s best kept secrets! a quiet single winds Northridge down to acomplex grand features entry opening up toentrance provide community w/large yards, sidewalks & mature landscaping.

2 story corner unit features 2 bedrooms, 1.5 baths, many parking spaces.

5 covered parking spots large living room, dining room, private patio, 2nd flr w/abundant deck, private garage, tons of storage, work space.

Large laminate elevatedfloors, deckceiling with radiate heat, newly painted! Complex features clubhouse, pool, sports courtPatio & gym.

Reasonable dues hot tub. indoor Expansive grounds. w/utilities available. include water, sewer, garbage cable & internet!

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“Fulfilling Northwest Family Dreams” Anacortes Office

1202 Commercial Ave Anacortes, WA 360-588-1515 • adrhomes.net

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May 29, 2020

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2788 E College Way Mount Vernon, WA 360-416-6500 • adrskagit.com

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3

Q&A

Refinance for less?

Question:

We own a second home that our daughter is living in. We currently have a 4.875% interest rate for a 30-year loan, owing 19 more years. We are considering refinancing at a 3.25% interest rate but the loan will revert back to 30 years. Our daughter has health issues and financial issues so this would reduce her monthly payment by about $180 a month. Good move or poor move?

Answer:

You have financing at 4.875% that you can replace with a brightand-shiny new mortgage at 3.25%. I say your current mortgage is due for a trade-in.

Imagine that the present loan was originally for $200,000. At 4.875% the monthly payment over 30 years for principal and interest is $1,058.42. Refinance $200,000 at 3.25% and the monthly payment is reduced to $870.41. The interest cost for the new financing will be $113,347.60 over 30-years.

You don’t want to refinance because a new mortgage for 30 years will create a needless large interest bill. Here are several

Eldon Brown Skagit County Manager 360.707.2158

Shelley Miner Burlington Escrow Manager/LPO 360.707.2312

Christa Canell Freeland Escrow Manager/LPO 360.331.4838

Brandi Jensen Stanwood Escrow Manager/LPO 360.629.9737

Holly Mathers Island County Title Manager 360.675.2246

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 4

By Peter G. Miller

options.

First – and here’s the big point – you don’t need to refinance $200,000. Your current loan has been outstanding for 11 years.

It has been amortized (reduced) with each monthly payment. If you started with $200,000 then after 11 years the remaining balance is $157,158.

If you finance $157,158 at 3.25% the monthly payment over 30 years for principal and interest will be $683.96 and the total interest cost will be $89,068.

Second, you may want to refinance for less than 30 years.

With a 20-year mortgage, the new monthly payment for principal and interest will be $891.39 and the potential interest cost will be $56,776.

With a 19-year mortgage, the new monthly payment for principal and interest will be $924.78 and the potential interest cost will be $53,692.

With a 15-year mortgage, the new monthly payment for principal and interest will be $1,104.30 and the potential interest cost will be $41,616.

Each option gives you a different combination of monthly costs and potential interest expenses. In addition, two of the shorter options also produce monthly savings.

Cathy West Oak Harbor Escrow Manager/LPO 360.679.5055

LAND TITLE AND W ESCROW

ASK OUR BROKER

Third, you might want to have a prepayment program. Perhaps refinance for 20 years and then, if comfortable, chip in additional principal payments each month. Each payment will shorten the loan term and lower the total possible interest cost.

For instance, the 20-year option requires a monthly payment of $891.39. Add a principal prepayment of $50 a month and the loan term is reduced by 18 months while the potential interest cost drops to $52,159.

Fourth, get cash-out refinancing. The remaining loan balance in this example is $158,158. If you refinance for $200,000 then the monthly cost for principal and interest over 30-years will be $870.41 while the total possible interest cost will be $113,348.

With this option you can – if you elect – give your daughter a substantial amount of cash.

There are other combinations of loan amounts and loan terms for you to consider. However, if you believe interest rates will rise in the future as a result of inflation, changes in the economy created by the coronavirus, or both, then now is the time to act.

For a specific review of your options, please speak with mortgage loan officers in your community.

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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

2001581

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May 29, 2020

Keeping your refinancing on track

By Marilyn Kennedy Melia CTW Features hen mortgage rates drop, loan demand goes up. That’s the usual rule.

“The horrible economic toll of the shutdown and extraordinary action by the Federal Reserve means that mortgage rates are likely to be near -- or setting -- historic lows routinely for the foreseeable future,” says Keith Gumbinger of HSH.com, a mortgage data site.

And, lenders did see a rush of homeowners rushing to refinance in March, causing delays in processing.

It could surge again when new lows hit, Gumbinger says, although demand for mortgages to purchase homes will likely be muted, due to high unemploy-

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May 29, 2020

ment.

This time, though, social distancing has delayed necessary appraisals and documentation registration with county offices.

Typically, when a borrower applies for a mortgage, lenders “lock” in the prevailing rate at the time of application for 30, 45, and sometimes 60 days.

In past weeks, some lending companies, like American Portfolio Mortgage, started adopting the 60-day lock to avoid running past the planned closing. “We’ve closed these loans comfortably,” says Reed Brunzell of American Portfolio.

Here, Gumbinger offers tips on keeping your mortgage application on track: Ask about a probable timeframe Sometimes there is a

charge for a 60 day lock period, and invariably for longer periods of 75 and more days.

“Before deciding on a lock period, you should ask your lender, ‘How long is it taking to close a loan like mine right now?’”

Ensure emails arrive Lenders will request information and communicate via email.

Monitor spam filters more closely, and add your lender’s domain list to your approved senders.

Expect repeated requests “Don’t be surprised if you are asked for updated income documents multiple times throughout the process. Lenders are wary of job losses happening between the time the application is placed and the loan comes to a close.

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 June 5, 2020 for the 2020-2021 school year, and can be found at www.npsar.realtor or by calling the North Puget Sound Association of REALTORS® 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.

RE-Weekly.com

5

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.

RealEstate weekly

Call 360.416.2180 Today!

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

6

RE-Weekly.com

May 29, 2020

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CLASSIFIEDS PUBLISHER'S NOTICE

Trying to sell a home right now?

By Erik J. Martin CTW Features

H

ow can you sell a home during a time of social distancing and increasing financial uncertainty? Very carefully, the experts agree.

Indeed, home sellers are treading cautiously during this pandemic period by taking extra precautions and altering their timelines and expectations. Others are pulling their homes off the market and rethinking their entire selling strategy as they wait for market conditions to improve.

Those determined to stay the course and proceed with showings, contracts, and closings are following best practices. A recent survey by the National Association of Realtors revealed that up to 44% of sellers had changed the way shoppers viewed their homes during the COVID-19 outbreak. This change includes nixing open houses, making prospective purchasers use hand sanitizer or wash their hands, and requesting visitors to don footies May 29, 2020

Take a second to plan coronavirus-related adjustments

still living in it while it’s on the market,” Le adds.

“That’s something your agent can promote by require that anyone presor remove shoes. Meanposting or mentioning that ent during a home showwhile, at the time of this ing wear protective gloves the home is, for example, writing, Redfin observed ‘professionally cleaned provided by the agents, a 494% rise in requests that sellers keep all lights on Tuesdays and Thursfor agent-led video home days,’ with the name of the tours, with video-chat tours on and doors open for a comprising around 30% of “contactless viewing,” and cleaning service provided.”

Prepare to be patient and wipe all surfaces down all tour requests. (Virtual adjust to changing condiwith antibacterial wipes tours may be the only options, as well. after the showing—espetion if a town or region “Most markets will have cially doorknobs and the prohibits open houses or declines in buyer visits lockbox. home showings.)

Erin Krueger, a real estate At Compass in Los Gatos, and transactions. Pricing California, Brad Le, Realtor appropriately from the time agent in Nashville, Tenyou first list your home nessee, says she and her with the Elevate Group, seller clients have adapted strongly advises his seller will help,” explains Glenn successfully despite coro- clients to move out of the Phillips, CEO of Hoover, Alabama-headquartered home if they can, at least navirus concerns.

Lake Homes Realty.

“The good news is that our temporarily, while it’s on However, Arvin Haddad, sellers remain committed the market. real estate agent and “You want to maximize to getting the home sold co-star of CNBC’s “Listexposure of your home, and adopting new ways ing Impossible,” cautions so making it available to to make it safe for their against COVID-19-related show 24/7 is important. families and for buyers,” And knowing that the seller discounting. says Krueger. “We’ve has moved out can reduce “Especially if you are implemented video, buyer fears of virus trans- desperate to sell, don’t Facetime, and 3-D tours, lower your price during the mission,” notes Le. supplied homes for sale Having your home profes- quarantine. It won’t serve with antibacterial wipes, you while the buyer pool is hand sanitizer, and footies, sionally cleaned can imthin. Use your price reducpress home seekers, too. and limited the number tion tool strategically once “I would spend the extra of people who can walk the market reopens,” says money for more routine through the home at any Haddad. “If you’re less deep cleaning of your given time to three.” serious about selling right Also, Krueger and his team home, especially if you’re

RE-Weekly.com

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.

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.

2 Bdrm house with loft on 1/4 acre, needs remodeled but is livable, tax value $180,000 asking cash out $139,500.

To view call 520-2211607 or 360-840-3292.

now, pull your property off the market and be patient—particularly if you are moving from one property to another.”

Lastly, plan for delays and postponements.

“I’ve been told to expect settlement dates to be later than expected, as appraisers have been on hold and some townships have been closed for business,” notes Denise Supplee, Realtor with Long & Foster in Willow Grove, Pennsylvania. “Fortunately, some lenders are allowing things 10 - January 29, 2019

like drive-by appraisals.”

Christa Huffstickler, a license partner of Engel & Völkers Atlanta, also anticipates delayed closings.

“Recently, the Georgia Supreme Court has allowed closings by videoconferencing and our governor signed an executive order allowing for notary publics to notarize documents electronically,” she says.

“We can certainly expect an increase in contactless activities like these going forward.”

7

H Street rd., Blaine

$1,800,000

22904 BuMBleBee lane, Mount Vernon

$950,000

700 n reed St #32, Sedro Woolley

$85,000

17211 CHinook Court, Mount Vernon

$598,500

Beautiful one story home offers dramatic features throughout, including a two story entryway and a large kitchen with an incredible amount of cabinetry, counter space, and storage. The living room with a natural gas fireplace overlooks the

new PriCe Special property on a very private 1.5 acres minutes from town. Well maintained 3 bedroom 2 bath with den Custom handcrafted, Craftsman home featuring 2278 sqft, office, main level master & a second master upstairs. Dining & living room manufactured home with vaulted ceiling and large master bed and bath. Wheel chair accessible. Two showcasing custom stain glass windows. Kitchen w/ granite counters, handcrafted outbuildings provide lots cabinets. Beautiful oak floors. of storage 12'x12' with two Detached MIL home is 702 sqft, lofts & 12'x16'. Convenient 1 bed/1bath with a 2 location, only minutes from car garage. Separate 1080 sqft shop; Elva Hunter Pond and Waterfall. Fabulous home! Danya Wolf Town and 15 Minutes from yolanda Sakuma Carla Fischer 360-708-8294 360-202-3086 MLS# 1494916 360-421-0435 360-982-0010 I-5. MLS# 1583781

$425,000 13024 aVon allen rd., Mount Vernon $235,000 Eighty (80) acres of mostly woods including Western Red 17180 MeMorial HWy Mount Vernon Cedar and Douglas Fir, Cottonwood; Alder; and Birch; with onelargepondgreatforduckhuntingtowardthenortherly 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 6.98 acre tract zoned Rural Intermediate. Level acreage Zoned "Rural Business," this 33/100 acre tract has edge of the property to the east of the gate. Future with great road access both from Memorial Highway great visibility and is located on the southwest corner and from Avon Allen Road. Stop light and curbs at of Hwy 20 and Avon Allen Road. Location of former homesite/Pasture land along the the intersection. Special Use Permit Valley Cafe prior to Department of southwesterly edge of the property. potential. The Animal Hospital and an Transportation enhancing the size of espresso stand is across the road to the Hwy 20. Stoplight and cross walk is Potentialforupto16buildingsites.Shown west. 980 feet along Memorial Highway Danya Wolf adjacent. Great location for Espresso Danya Wolf Danya Wolf byappointment.MLS#1568051 360-708-8294 stand or similar business. MLS# 1571644 360-708-8294 (SR-536); 620 feet along Avon Allen Road. 360-708-8294 1760 S BurlinGton BlVd, BurlinGton

$600,000

Build your dreaM HoMe in eaGleMont!

41986 Cedar St., ConCrete

tiered yard. The master bath has double sinks; a deep oval bath tub and a large separate shower.

Second

Great visibility commercial property: plenty of

4629 BeaVer Pond driVe S.

parking; former auto sales; small storage building

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

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

360-708-8294

320 Moore St., Sedro Woolley

$395,000 4628 ParkVieW PlaCe

G ndin

Pe

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

$105,000

49/100 acre. MLS#1587661

17075 Gailee dr., BurlinGton

Elva Hunter

360-202-3086

$689,000

Great neighborhood in NO flood zone with Skagit River Access. Private lot, level, mostly fenced and cedars. All utilities are in with a 3 bedroom conventional septic system. $372/year dues and Sherry Ruderman 360-540-1552 includes water. MLS# 1596171

7308 HoBSon rd., BoW

Danya Wolf

360-708-8294

$375,000

360-708-8294 360-982-0010

lake tyee

1591307 45019 Tillicum Trail #3A18, Lake Tyee $30,000.00 1551671 45232 Nesika Trail #2D36, Lake Tyee $39,500.00 1446939 45051 Kachess Trail #3A77, Lake Tyee $25,500.00

1451178 45297 Kamooks Trail #2D21, Lake Tyee $16,000.00 1559192 45104 Kachess Trail #3C1, 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 Sherry Ruderman calendar year.

360-540-1552

Sold

$235,000

for voting US

inG end

P

New home in Eaglemont Golf Course Community! Luxury living in this 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 plus 2 bedrooms + Additional SF downstairs ready to complete, AC & Tankless water heater. Quiet peaceful street. Check out the Elva Hunter beautiful Clubhouse! MLS#140582 360-202-3086

an

Nicely updated 3 plus bedroom;1.75 bath home located in Vedere Terrace, above Burlington and just north of the Skagit Golf and Country Club. Offers comfortable, one level home. Fully remodeled kitchen with granite countertops, SS appliances, new cabinets, tile floor and island. Hardwood floors, fireplace, French doors and updated bathrooms. Large, level, fenced backyard with patio. This 1405 sq. ft. home with carport and extra parking is ready for you to enjoy. $50.00 a year dues/ street lights.

MLS# Carla Fischer Danya Wolf

$55,000

CaPe Horn

offers

square foot shop, park like tract;

reduCed new PriCe

suite

Generous sized two car garage; 600

1595124 4733 Skagit Trail #1D92, Lake Tyee $45,000.00

CommerCial Sale and/or leaSe

master

adjoining den/office space or nursery.

“2019 Skagit’S BeSt” 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 EStAtE officE, rEAl MoSt coMMUnitY MindEd BUSinESS

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 2008902

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May 29, 2020