Real Estate Weekly: July 8, 2022

INSIDE

This Issue HOW TO MAKE MONEY TURNING YOUR SPARE SPACE INTO A RENTAL PAGE 5

FIXES FOR TODAY’S REMODELING FRUSTRATIONS PAGE 7 CLASSIFIEDS PAGE 7

JULY 8, 2022

TABLE OF CONTENTS How to make money turning your spare space into a rental........................................................................P5 Q&A

INSIDE PAGE

5

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

Fixes for today’s remodeling frustrations......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.

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.

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 2

RE-Weekly

July 8, 2022

NORTH PUGET SOUND ASSOCIATION of REALTORS®

STAT

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

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:

4,800,000 The total number of single-family home sales in May 2022, compared to 4,980,000 the previous month.

Source: National Association of Realtors



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



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 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.

$899,000

WINDERMERE REAL ESTATE/SKAGIT VALLEY 360-424-4901 • windermereskagit.com

www.npsar.realtor

Hablar Alto - Detén la Discriminación

Real Estate Stat

23627 HOOGDAL ROAD, SEDRO-WOOLLEY

Tel. 360-416-4902

JACKIE FRAZIER 360-941-5765

This custom home has everything your heart desires! Privacy & nature, yet minutes to the freeway. Spacious open-concept home with a large kitchen perfect for entertaining. Primary bedroom w/walk thru closet & en-suite bathroom. 4 large bedrooms & a bonus room-could be a 5th? 3 full baths. You will find charm everywhere from window seats to a beautiful river rock bar. A gardener’s delight including custom built greenhouse & garden with landscaping adding color & beauty. A small orchard provides a variety of fruit. Have toys?

There is storage galore inside and out!

Large shop/garage & multiple outbuildings to store all. Invite your friends, there is plenty of parking. Come on home!

MLS #1951730

The Average Homeowner Gained $64K in Equity over the Past Year* To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, scan here to check out your home’s value here and let’s connect for a professional equity assessment report. *CoreLogic

Danielle Martin 360-420-6807 daniellemartinrealestate.com

247996-1

July 8, 2022

RE-Weekly

3

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

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!

4

RE-Weekly

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

l a b n o c o b l z c c c

y s a N t July 8, 2022

to determine what rooms are currently renting for within detached or attached homes. What you can or should charge will depend on a variety of factors, “including the market for a traditional one-bedroom or studio apartment in your area, your square footage offered, proximity to job centers and public transportation, whether or not the person will be paying for utilities, and whether or not they have access to their own bathroom,” LeBlanc continues.

Also, carefully ponder any rules you want to stipulate regarding guests, pets, areas off limits, lease length, rental increases, and late payments. All these items should be detailed in your lease agreement. For best results and to ensure you are legally protected, enlist the help of an attorney or rental agency that can help you draft your lease and check that all local/state by providing the agreedor those who are students panionship and interaccannot find an affordable tion, which helps prevent upon livable space and all laws are complied with. amenities in proper condi- “Try to choose a tenant place to live that’s close to loneliness,” says Shaun their jobs or their school.

Larson, a real estate broker tion,” he says. with a strong rental history So, by renting out unused in Brentwood, Tennessee.

The best areas within a and no criminal backspace in your home, you Good live-in landlord home to consider leasing ground. They should be can immediately feel good candidates include those out include a dedicated tidy and respectful if there about helping to increase who want to be financially space with its own enare shared common areas. housing supply.” stable, possess property trance, such as a finished In addition, cohabitatmanagement and handybasement, a separate live-in Proof of employment or funds is important if you ing with a paid roommate man skills, are proficient in suite, or a finished area over the garage, or simply are considering a longercan give you a feeling of communication, and are a spare bedroom or bonus term rental,” McKinney security, as there will be punctual and responsive room. more people occupying with repairs and tenant advises. “Also, be sure you “You should think your home. requests, adds Larson. agree on payment arrangeabout if you have enough ments. Choose a renter “Additional people on site “You’ll need to be able can also help with home to fully express your lease bathrooms to support the who won’t interfere with management if those reagreement, preferably in a added room rentals and your schedule and lifestyle. sponsibilities are specified written document, manage what areas of your home If you are uncertain that the rent payments, resolve are allowed to be shared, in your lease agreement. the renter will be a good including the kitchen,” More people being present any conflicts about the fit, ask for references from suggests LeBlanc. in a home can also produce agreement, and perform your end of the agreement Consult local market data previous landlords.” an environment of com-

How to make money turning your spare space into a rental

Associates. “It can also be appealing to your home’s next buyer to see a history of successful rental Own a home but have a lot of unused square foot- income.” age because you’ve recently Renting out a portion of your home can also make become single, an empty nester, better organized, or you a good Samaritan of sorts. otherwise? Seeking extra “There remains a huge cash for unoccupied areas of your domicile? Consider lack of supply for affordable housing, no matter becoming a live-in landthe city or state you live in. lord and leasing out this Nationwide, even before zone. Your rental income the pandemic, the country could significantly help cover your overall housing had a shortage of 7 million affordable and available costs.

“Renting can help offset homes for renters with your mortgage payment,” lower income,” says Atticus LeBlanc, founder/CEO says Lauren McKinney, of PadSplit in Atlanta. a Realtor with Asheville, North Carolina-headquar- “The reality is that many people who work full-time tered Beverly Hanks &

By Erik J. Martin CTW Features

July 8, 2022

RE-Weekly

5

Refinancing for a lower rate Question:

We bought our home for $258,000 five years ago with FHA financing. Today it’s valued at $425,000. We want to refinance to get a lower rate and to end the monthly cost for mortgage insurance. Can we also cash out? If yes, how much cash can we get?

Answer:

Because of higher home prices, millions of property owners are now able to cash out. For instance, the Federal Reserve says that since 2019 U.S. homeowners added $7.5 trillion in new equity. According to the National Association of Realtors, typical existing home prices in April were 14.8% higher than a year earlier.

There’s another reason homeowners have a growing amount of equity. People are holding onto their homes.

There is little inventory for sale. One by-product of this situation is that owners have more time to pay down their mortgage debt. They owe less.

In a model situation, the home may have been bought four years ago for $258,000 with FHA financing. The typical mortgage rate in June 2017 was 3.9%. The monthly

6

mortgage includes $1,196 for principal and interest plus $176 for the FHA month insurance premium, a total of $1,372. With 3.5% down, the mortgage balance today is roughly $229,000.

If the property is worth $425,000 then the existing equity is approximately $196,000 ($425,000 less $229,000).

If a lender allows you to refinance with an 80% loan-tovalue ratio (LTV) you can obtain a new mortgage for as much as $340,000 ($425,000 x 80%).

Subtract the outstanding loan balance — $229,000 — from $340,000 in this example — and if qualified you can likely get $111,000 in cash. The term “qualified” means a solid credit score, reserves, a good payment history, a sensible debt-to-income ratio (DTI), etc.

The catch is that mortgage rates have risen substantially.

The result is that while you can get substantial cash from your property if qualified, the cost is much higher than last year. Alternatively, if you refinance, you will not have a monthly mortgage insurance cost because you likely have far more than 20% equity.

RE-Weekly

Q&A

ASK OUR BROKER

By Peter G. Miller Consider three options if you want to refinance: First, a full refinance that replaces your current mortgage with a larger mortgage. You should be able to end monthly costs for mortgage insurance with this option because you likely have more than 20% equity.

Second, rather than a total refinance, get a second mortgage. This allows you to keep your current mortgage with its lower rate in place.

Third, consider a home equity line of credit. This is like adding a giant credit card to your home. You can borrow and repay for a given period, say 10 years, and then repay only for the next ten years.

For details and specifics, shop around for mortgage rates and terms, and be wary of any loan offer that includes steep fees and big charges up front.

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

July 8, 2022

REAL ESTATE FOR SALE

RENTALS

Houses for Sale

Mobile Home Spaces

NEW TODAY

379 Echo Lane, Sedro- Woolley $639,000 OPEN HOUSE Sat, July 9th, 12-2 Totally updated 2,663 SF 4-bed 3 bath home with office & bonus room!

Beautiful spacious kitchen with quartz counter tops, soft close cabinets, large island, & bamboo hardwood flooring.

Large primary bedroom has walk in closet primary bath with slate, waterfall shower & dual sinks.

Large deck with trex decking, fully fenced yard & large double lot. Nice Garage with shop area.

Fixes for today’s remodeling frustrations

By Marilyn Melia Kennedy CTW Features Dust, delays, cost over-runs. Remodeling is trying under the best of circumstances.

Now, with record remodeling projects underway and continued supply snafus, it’s particularly vexing.

Homeowners can benefit if they employ strategies for this unique remodeling environment, shares Kurt Clason, owner of NH-based Clason Remodeling and current chair of the National Association of Home Builders (NAHB). He suggests those embarking on a remodeling project do the following to avoid unwanted roadblocks: • Make the most of the queue: “Many remodelers are so busy they can’t July 8, 2022

start a project for at least 18 months,” Clason says. But owners can have an initial discussion with a contractor on his project and what materials will be needed.

Owners can then begin shopping for tile, fixtures, flooring, and the like, selecting a couple of options for each. In some instances, owners can order products to arrive as when the project starts.

“We (contractors) don’t know when delays will come. We can order (items) and be told it will come in within two months.

But then we’re told, no six months.”

• Consider both wants and needs.

Maybe a new deck is an essential, but a homeowner would really love to have it screened-in if he had the funds. Or you need a kitchen overhaul but adding an adjacent washer and dryer would be n-

Enjoy all the amenities that Glenhaven has to offer, seasonal swimming pool, tennis court, clubhouse & 2 lakes for fishing & boating. 15 minutes to Bellingham or Mount Vernon.

Seeking long-term renter for RV Site located on beautiful property in Alger!

Includes electric, water, sewage, WIFI, laundry, fishing/boat ponds, gazebo with grill, large deck an patio. Hiking/biking trails close to other amenities.

Temporary free rent to someone who could provide back hoe services and operate a chainsaw.

Special consideration for vets. $680 a month, $20 for additional person.

Current FBI background check and references required. Sound character and no anger or substance abuse issues.

Subdued pets okay.

Contact 360.724.5716.

NEW TODAY RV SPACE ON 6 ACRE ESTATE FOR RENT No pets, one vehicle, water, sewer, garbage and electricity included.

Rent by week $250, or month $900, $300 deposit. Very quiet, corner of Chuckanut Dr & Cook Rd. 360-424-6974

ice. A contractor can sometimes make accommodatThis home is a must see! ions during the initial proj- MLS #1963545 ect, making it easier and cheaper to achieve wants later.

• Competency counts, but so does compatibility.

Given the increased likelihood that owners will be having conversations about unGeri Cole, 360-391-1614 expected shipment delays or WRE/Skagit Valley new, higher prices on mate- Windermereskagit.com someone you believe is honest, and who rials, it’s iperative to have trust and confidence with contractors. you can easily communicate with, Of course, positive reviews from clients since in today’s environment, some and admiring the workmanship of previconversations are likely to center on a ous projects are priorities. distressing development.

But when selecting a remodeler, “consider it like dating,” says Clason. You want

RE-Weekly

7

18849 cascade ridge court, mount vernon

$795,000

imProved Price!!

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. Danya Wolf (360) 708-8294 Cul de sac street. MLS#1922531

1207 Jameson st., sedro Woolley

Elva Hunter (360) 202-3086

$525,000

Vintage one level, 4 bedroom 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, formal 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’space off the family room. There is an outbuilding for hobby or workshop. Garage is wired for generator plus plenty of extra parking in Carla Fischer the driveway. MLS#1957623 (360) 982-0010

2301 martin rd, mount vernon

JoAnn Boudreau (360) 391-0746

Juanita Bunch (360) 941-5530

$560,000

Carla Fischer (360) 982-0010

1 mountainvieW rd, mountvernon

$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

Great traditional tri-level home in fabulous location; nearby theYMCA, SkagitValley College, schools, shopping, and parks. Easy commute.

Skagit River is close by for fishing too. Home offers 3 bedrooms on upper level, a full bath and the primary bedroom which has an attached ¾ bath and a private deck. Main level has the living room with gas fireplace insert, kitchen with eating space and dining room at opposite end of kitchen.There are sliding doors to the deck, overlooking the backyard, with a view to the North and to theWest for enjoying the sunset. Lower level has Laundry with a ½ bath, a very large hall which could provide an extra seating/office/hobby area and a bonus room with sliding door access to the concrete patio, which could become a 4th bedroom. Interior is freshly painted, roof and gutter system approx. 2 years old, water heater new in Feb 2022, and the north section of the fence is new, white vinyl.

Patricia Box MLS#1951361 (360) 941-9186

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

4617Beaver Pond drive s,mountvernon $99,000 Great neighborhood to build you home, large lot with all the utilities in the street ready for you permit! Lot is surrounded by greenbelt for maximum privacy, great walking neighborhood.

MLS# 1954211

14903 rustic lane, concrete $75,000 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

23952 north West vieW rd, mount vernon

$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

23644 lake drive, clear lake

$229,900

Well placed, older manufactured home with addition, located on shy ¼ acre lot across the street from Clear Lake elementary school. Lot is beautifully maintained with lovingly cared for mature landscape, in both front and backyards.

Front of home which features an accessible ramp is so inviting, you’ll feel right at home. Home feels open, in the living room there is a wood stove on a raised brick-faced hearth to keep you cozy. Kitchen is ample and well-appointed, for this size home with plenty of cupboards and a pantry.

Fenced backyard has a concrete block patio for relaxing or enjoying a bbq.

Danya Wolf (360) 708-8294 There is a detached 2 car garage. MLS# 1955181

21290 lafayette rd, sedro-Woolley

Suzanne Jenkins (360) 941-2983

360.424.0300

55’Waterfront

$575,000

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 you Carla Fischer and your guests. MLS#1905659 (360) 982-0100

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 249784-1

8

RE-Weekly

July 8, 2022