Real Estate Weekly: August 19, 2022 by Skagit Publishing

AUG. 19, 2022 HOW TO CHOOSE THE RIGHT REAL ESTATE AGENT FOR YOUR NEEDS AND UPFRONTPAYTIMELINEPAGE5LESSFORASECURITYDEPOSITPAGE7CLASSIFIEDSPAGE7 INSIDEThisIssue

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RE-Weekly How to choose the right real estate agent for your needs and timeline P5 Q&A Ask Our Broker ...................................................................... P6 Pay less upfront for a security deposit P7 Classfieds P7 TABLE OF CONTENTS 5 PAGE INSIDE 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

Aug. 19, 2022 3RE-Weekly RealSTATEstateStat5.22% Last week’s average 30-year FRM mortgage rate was 5.22% with a 15-year FRM average mortgage rate at 4.59% and a 6/1-year ARM mortgage rate was 4.43% on average. Source: National Association of Realtors Mission Statement: T h e Nor t h P u get Sou n d Associa t ion of R ea lt or s a d voca t es for Realtors and their clients, and promotes the protection of property rights. NORTH PUGET SOUND ASSOCIATIO N of REALTORS® 525 East College Way, Suite J Mount Vernon, WA 98273 Tel (360) 416 4902 www.npsar realtor

4 Aug. 19, 2022RE-Weekly 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. Now could be the time to sell a new home and earn a slice of the real estate pie. RealEstate weekly Call 360.416.2180 Today! In print and ads@skagitads.comgoskagit.comonline

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Another fantastic trait among high-performing agents is attention to de tail, Greene points out.

“Great Realtors know comparable sales and mar ket trends really well. They can talk about a house in a certain neighborhood or on a certain block with a high degree of accuracy and use those data points to help you form opinions and make decisions,” he says.Take the time to vet your agent candidates carefully and ask plenty of questions about anything you don’t understand. Ask, too, for references to past clients you can contact to learn if and to what degree they were satisfied with that agent.

How to choose the right real estate agent for your needs and timeline

“Be forewarned that many websites only list agents that have paid to be mar keted on their sites,” warns Bowman.ChaseMichels, a real estate consultant, says an agent worth their salt will help cover the cost of professional staging. “They should also be able to streamline the entire process by recommending lenders, lawyers, inspec tors, tradesmen, and every one in between you may need,” Michels says. “A good seller’s agent should also have potential buyers ready to go before your home is even listed.”

By Erik J. Martin CTW Features It’s been said that it’s not what you know in life but who you know that’s most important. And that axiom also applies to buying or selling a home. Because it’s often the real estate expert that has your back who will significantly determine your satisfaction level with the entire process and transaction.Putanother way, pick the right real estate agent, right from the start, and good things are more likely to happen.“Forbuyers, it’s crucial to have the right real estate professional in their corner representing them to the best of their ability. Not having the right expert can make the buying process much more tedious and complicated,” says Jason Gelios, a Realtor in South east Michigan. “For sellers, selecting the wrong real estate professional will make the selling process more complex and could deduct thousands of dollars from the proceeds of their sale. There is much more to sell ing a home than sticking a sign in the yard. The right Realtor can guide a home seller through the process with their knowledge and experience, getting them the most money for their home.”

Experience especially matters in times like these, when the pendulum is shifting, and homes are taking longer to sell than in years “Havingpast.an agent that has seen the market shift before can be invaluable to accurately price your home so that it doesn’t sit or require price reductions, which we have started to see recently,” says Ryan Bowman, a Realtor and associate broker with eXp Realty.Pickthe wrong pro and you can probably expect limited cautionsdisorganizedunscheduledcommunication,showings,andcontracting,DougGreene, owner of Signature Properties.“Inexperienced agents can create a hornet’s nest of issues for you during your escrow period, whereas a good agent makes you feel like the process has been effortless,” Greene notes. A solid referral from a trusted friend or family member can often provide the best possible chance to work with the ideal agent. Just be sure to look at sev eral pros, not just the first agent or Realtor you are referred to or interact with. “Look beyond hiring a family member you met at a barbecue,” Gelios cautions. “The professional you select should exhibit excellent communication, backing up what they are saying with facts and demonstrating that they have experience with both buyers and sellers.” Strong interpersonal and communication skills make a big difference here, agrees Bowman.“Askyourself: How well do they set expectations for conversations and show ings? And how honest are they about their experienc es, numbers, and systems to support you?” Bowman asks.Bewary about any agent who offers to discount their quickly.commission/services“Thismaysoundlikea money saver, but if they are quick to discount their rate, imagine how they will be when negotiating the sale of your home,” adds Gelios.Often, the least effective way to find a quality agent is hunting online.

First, it’s your money. You can make whatever choices you want, but if one goal is to make both children feel happy, that will likely require some work. For instance, do you allocate inheritances on the basis of need? The preferences among the heirs? Past financial help? Or just split everything down the middle? Remember, these are not just financial questions, there are also issues of ego and status.Second, real estate can be a big part of an inheritance.

Fourth, you may want to sell an investment property now and give the cash to one or more heirs. However, before selling, speak with a CPA, enrolled agent, or tax attorney and compare the tax bite of selling while alive with giving property through an estate. Rather than selling now to raise cash, ask if it might be better to refinance.

Given that inheritances are often complex, difficult, and involve big money, it can make sense to sit down with an attorney who offers elder law services. Ask about wills and related paperwork as well as potential taxes. Then, consider having the family meet with the attorney to talk about your plans and preferences. Get their input, it may be a way to avoid future disputes and debates. Email your real estate questions to Mr. Miller at peter@ ctwfeatures.com.

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In other words, small investors. Among investors surveyed, the Ameriprise Financial study found that 40% had concerns about such properties, 15% were unsure that heirs could afford upkeep and taxes, and 14% worried about how to split such properties when there is more than one heir.

Question: We are about to retire and as part of the process want to update our will. We have two adult children, so do we leave our home to one of them, both of them, or have it sold and let them divide the money?

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The 2022 Ameriprise Money & Family study found that “68% of respondents plan to leave real estate – such as a home, vacation home, or land – that they own to their heirs.”Third, it’s not just personal residences that are left to heirs. Many households also own investment real estate.

The Pew Research Center reports that “most rental properties – about seven-in-ten – are owned by individuals, who typically own just one or two properties, according to 2018 Census data.”

Answer: The estate choices applauded in one household may lead to very unhappy results in another. Given that family dynamics vary so widely, it’s up to each household to establish their own plan.

Estate planning: what should we do about the house?

One way to resolve inheritance issues is to sit down and talk with the heirs. Sounds reasonable, but such conversations often do not happen.

Among those planning estates, said the Ameriprise Financial study, “more than half (56%) have not told their heirs about their intentions to do so – a trend that hints at the financial and emotional complexities of transferring real estate, particularly when multiple heirs are involved.”

By Peter G. Miller

QQ&A&A

Structured either as “surety bond” or as insurance, renters pay a fraction of the required deposit to the firm, which guarantees the landlord the full deposit should the renter incur the charges, explains. Michael Collins, director of the Center for Financial Security, University of Wisconsin.

Pay less upfront for a security deposit REAL ESTATE FOR HousesSALEfor Sale 425 East Jones Road in Sedro-Woolley,

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By Marilyn Melia Kennedy CTW Features

With the average rate nationwide for a one -bed room apartment jumping to $1,129 early this year, renters everywhere are finding themselves financially stretched.Notonly must their earnings and credit record meet a landlord’s standards, but they also need a month or more of rent upfront for a security de posit.The security is for the landlord, who can use the funds if the renter does damage to the property or breaks leasing terms. But the charge means financial insecurity for renters who drain their savings to pay theNow,charge.several firms; like TheGuarantors, Jetty, Rhino, and SureDeposit, have agreements with thousands of property management companies to accept their product in lieu of the security deposit.

While they initially save, renters using an alter native product do pay more than if they had the upfront cash for a security deposit, abide by their lease terms, and get their security deposit back in full when they move out, adds Collins.

The deposit replacement charges are non-refund able and vary by renter. For instance, “Our security deposit replacement coverage starts at 7 percent of one month’s rent,” explains a spokesperson for TheGuarantors, adding, “costs are determined by the landlord’s preferred coverage level and the renter’s risk profile.” The “mysuredeposit.com” website uses the example of a $175 charge for a $1,000 surety bond [which would replace a $1,000 security deposit].Inaddition to the non-refundable charge, renters must also reimburse the deposit replacement firm for the cost of any damage he caused– and may be on the hook for additional amounts to cover the landlord’s loss.

“Always start with talking to your landlord,” Col lins advises struggling renters, because it may be possible to stagger payments on the security deposit.

Users of replacement products should clearly understand any fees – and what would cause his landlord to levy charges for lease violations. 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 gwhiggins77@gmail.comemail HousesRENTALSfor -UnfurnishedRent One Bedroom Studio For rent, no pets. Un Estudio De Renta Tiene Un Cuarto. No Sedro-Woolley360-540-0229$700mascotas.month. CLASSIFIEDS RE-Weekly

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