Real Estate Weekly: June 10, 2022

INSIDE

This Issue

ON A TIGHT BUDGET AND EARNING ENTRY-LEVEL WAGES? CHECK OUT THESE 10 AFFORDABLE CITIES TO MOVE TO PAGE 5 FINDING THE SPACE: ADDING AN EXTRA HOME IN YOUR BACKYARD PAGE 7 CLASSIFIEDS PAGE 7 JUNE 10, 2022

INSIDE

TABLE OF CONTENTS

PAGE

5

On a tight budget and earning entry-level wages? Check out these 10 affordable cities to move to ................................................................................P5 Q&A Ask Our Broker.......................................................................P6

Finding the space: adding an extra home in your backyard.................................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

June 10, 2022

STAT Real Estate Stat

$382,000

Real Wood Real Quality

The median price for an existing single-family home in the US in March 2022.

919 Riverside Dr. | Mt. Vernon www.nwff.com | 360. 424.8455 Monday - Saturday 9:30-5:30 222414-1

Source: National Association of REALTORS, 2022.

Dining | Bedroom | Entertainment | Home Office | Upholstery

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

Mount Vernon, WA 98273

360) 416-4902

www.npsar.realtor

Devastatingly effective wire fraud scams are becoming more and more common in real estate transactions. Sophisticated hackers are monitoring client and/or broker email accounts and waiting for a window to steal monies from clients.

The scammers convincingly impersonate the broker or escrow agent, and then send messages urging the clients to wire funds to fake accounts set up by the scammers. The clients are left with no recourse to recover the stolen funds.

60147 STATE ROUTE 20, MARBLEMOUNT

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

Are you prepared to protect yourself?

Washington REALTORS® in cooperation with the NWMLS, the Department of Licensing, Department of Financial Institutions and the Office of the Insurance Commissioner have created several resources to educate our members and consumers about this widespread but preventable fraud.

 

Obtain the phone number of your real estate broker and your escrow agent at your first meeting.

Call the known phone number to speak directly with your broker or escrow officer to confirm wire instructions PRIOR to wiring.

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.

June 10, 2022

$790,000

RE-Weekly

ELIZABETH MILLER 360-420-3607

DICK NORD 360-661-6529

Presenting the Marblemount Diner, a fan favorite known for scrumptious burgers & the most delightful homemade pies!

Outstanding turnkey business provides everything needed for continued success.

2322sqft of indoor restaurant space, plus outdoor covered dining, grand eating bar, full featured kitchen w/newer appliances, huge storage area w/new walk-in cooler, freezer & new HVAC system. Large office/multi-purpose space connected w/separate entrance. Vintage Victorian attached w/over 2000sqft of living, full of the charm & character of yesteryear w/all the modern amenities. Fantastic opportunity for Airbnb/BB/personal residence. Huge 36x40 detached shop with ¾ bath +covered RV pad.

Picturesque 1AC of easy-care landscape w/fruit trees. MLS #1947727 235561-1

3

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

B C

F

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

June 10, 2022

t o p Th m y w y m

M s p c b w s m m a

right relocation city that fits your budget, it pays to crunch the numbers carefully and estimate cost of living expenses and future earnings potential.

“As a rule of thumb, your housing expenses should not exceed 30% of your gross income,” advises Freudenberg. “Also, make sure there’s a strong job market in the new location, and learn if you have the opportunity to work remotely if necessary.”

Aaron Steeves, the owner of Whalom Property Services LLC in Boston, strongly recommends contacting a trusted local real estate agent in the relocation city you are considering.

“This person will know the city like the back of their hands, be able to guide you through the pitfalls, and help you avoid moving into a potentially negative situation,” says Steeves. transportation throughout most affordable spots on Remember that, just the city, and a great overall the list fall in California. because a city seems afford“Many people regard transition to all four seaable on paper doesn’t mean sons,” says Gelios. “With California as one of the there are ample opportunia smooth commute to the most expensive states to ties to thrive there. suburbs and many job live in, so it was interest“Before making your opportunities being added ing to see some California decision, carefully research daily, Detroit is becoming cities listed. Conversely, job opportunities, availmany regard the South as a viable option to a large able housing, and lifestyle more affordable, yet eight group of people.” considerations,” Steeves of the 10 more expensive Don’t overlook Cincinsuggests. nati, he adds. cities were southern metros,” continues Richardson. “Additionally, consider “That city offers many the quality of the public amenities to young families “This goes to show you that areas which seem out school system – especially and lower wage earners. if you have children – acof reach may actually be You have a lower crime rate, a decent public school more reasonable than you cess to public transportation, safety, air quality, think. Upfront research system, as well as safer neighborhoods compared and working with a lender green space, and walkability scores,” says Michael who can help you deterto other major metros,” mine your housing budget Ashley Schulman, partner Gelios explains. in multiple areas can go a and chief investment ofRebecca Richardson, a ficer for Running Point long way toward finding mortgage loan originator Capital Advisors in El in Charlotte, says it’s note- affordable options.” worthy that several of the Segundo, California.

To help determine the

On a tight budget and earning entry-level wages?

Check out these 10 affordable cities to move to

By Erik J. Martin CTW Features inding affordable housing continues to be a monumental challenge for millions of Americans eager to purchase or rent a home.

The difficulties get even more complicated when you’re earning entry-level wages or close to it, even if you work full time or have multiple jobs.

But here’s a ray of hope: Move.org recently researched 75 of the most populous metros across the country and named the 10 best cities for minimum wage earners based exclusively on each market’s minimum wage and how much it would cost to rent a one-bedroom apartment

F

June 10, 2022

in that city, on average.

The towns that made the cut, in order, are Stockton, California; Cincinnati; Minneapolis; St. Louis, Missouri; St. Paul, Minnesota; Tucson, Arizona; Fresno, California; Detroit; Bakersfield, California; and Cleveland.

Meanwhile, the 10 worst cities for those earning minimum wage are Honolulu; Austin, Texas; Plano, Texas; Atlanta; Raleigh, North Carolina; Irvine, California; Charlotte, North Carolina; Nashville, Tennessee; Durham, North Carolina; and Arlington, Texas.

Stephen Freudenberg, head of homeownership at Gravy in St. Louis, says many cities ranked in the

10 most affordable list are desirable places to live with robust job markets, economic growth, and good potential for upward mobility.

“There are also several mid-sized cities listed here, like Detroit, Tucson, Fresno, Minneapolis, and St. Louis, that are desirable because they are near larger cities with economic opportunities and are easily accessible to travel to and from,” he notes.

Jason Gelios, a Southeast Michigan Realtor, trumpets the perks of living in Detroit.

“It’s a great place to relocate due to many enjoyable neighborhoods, a growing economy with a diverse job market, access to mass

RE-Weekly

5

Q&A

Dealing hefty with upfront rental costs Question:

We’re about to rent our first apartment, moving from a parent’s basement to something more desirable. However, to move we need a lot of cash up-front for the deposit and rent for a month. Is there any way to rent without such a large chunk of our savings?

Answer:

It’s easy to understand that upfront rental costs are big and getting bigger.

Rent.com reports that in March the typical one-bedroom unit rented for $1,697 while the average rent for a two-bedroom property was $2,050. Pay a month’s rent in advance plus a deposit equal to one- or two-months’ rent, and suddenly you need a big deposit check.

These figures are a lot higher than just a year ago. Rent.com says that rents nationwide for a one-bedroom unit rose 22.2% in a year. Twobedroom properties saw rents go up 22.8%. And in some jurisdictions the 12-month increases were much higher: Durham was up 49.2%, Nashville rents grew 46.9%, and rental units in Austin increased 43.4%.

6

ASK OUR BROKER

By Peter G. Miller

Typical local rents in March for a one-bedroom unit, according to the Zumper National Rent Report, included $3,260 in New York, $2,420 in San Jose, $2,500 in Miami, and $2,230 in Washington. Of course, as rents have risen so have deposit requirements.

As much as rental rates are high and getting higher, they reflect rising property values. If you can rent a one-bedroom condo for $2,300 a month, and the property is worth $300,000, the landlord has a lot of risk because a tenant might not pay the rent on time, pay at all, or – worse – might damage the property.

One reason for the sudden rental increases is that various eviction moratoriums were in place at the local, state, and federal levels because of Covid-19. The federal moratorium lasted from March 2020 through July 2021. It has been estimated that unpaid rent during this period topped $50 billion. Meanwhile, although landlords were not getting their money, they still had cash costs for property taxes, insurance, and repairs.

Also, a large proportion of all rental units

RE-Weekly

belong to small landlords. According to the Brookings Institute, “The loss of rental income under the eviction moratorium represents a significant income shock for smaller landlords of modest means. Our analysis finds that 40% of residential property units are owned by individual investor landlords.”

What can you do to lower up-front rental costs? Here are two strategies.

First, don’t pay. A service such as Obligo (myobligo.com) typically charges $10 to $20 a month in exchange for covering a $1,500 deposit.

This approach substantially reduces the need for up-front cash.

Second, pay overtime. Some landlords may be willing to accept additional monthly payments until the full deposit has been paid.

Lastly, thank Mom and Dad for the use of their basement. It may not be fancy or formal, but it does have the advantage of low cost and perhaps home-cooked meals every so often.

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

June 10, 2022

RE-Weekly

CLASSIFIEDS Apartments Unfurnished

RENTALS

NEW TODAY

Apartments Unfurnished

Olympic Apartments

NEW TODAY Skagit Village Apartments Accepting applications for 1, 2, 3 & 4 Bedroom Apartments.

Rent is based on income. Income restrictions apply, call for details.360-424-4051

Finding the space: adding an extra home in your backyard

By Marilyn Melia Kennedy CTW Features With rents and home prices escalating ever higher, the need for affordable housing grows more pressing.

But in communities across the country, many don’t want lower price homes or apartments nearby, with that sentiment so commonplace that it’s earned its own acronym, “NIMBY”.

Ironically, points out Laurie Goodman of the non-profit Urban Institute, one affordable housing solution that’s generally welcomed is located right in a homeowner’s backyard.

“Accessory dwelling units” or ADUs are a “secondary housing unit on a single-family lot,” explains Kol Peterson, who runs www.buildinganadu.com.

The detached version is a separate little house. The attached type is a self-contained home with its own entrance that is added on to the main house.

Detached ADUs do face some opposition, with many localities’ zonings limiting how far an ADU can be set back in a yard or other restrictions.

June 10, 2022

Still, says Peterson, there’s been big growth in the number of ADUs, and in the last few years, several states are passing legislation to encourage the trend, since it boosts affordable housing.

Customers of Wolf Industries, a firm producing “prefab” ADUs, often initially buy them for a family member, like an aging parent, says Derek Huegel, owner of the Battle Ground, WA firm. “Then, after family doesn’t need it, they plan to rent it out.”

Besides possible zoning restrictions, homeowners face an additional challenge in financing the unit, says Goodman. Taking an equity loan on the primary home is the typical financing vehicle, but that’s open only to owners whose primary home is worth considerably more than they owe in mortgage.

Peterson sees pre-fab ADUs becoming more popular, since the cost is lower. The pre-fab homes produced by Wolf Industries, which range from 300 square feet to 616 square feet, cost roughly between $110,000 to $160,000, says Huegel. He estimates custom built ADUs cost $200,000 and up.

RE-Weekly

Relay: 711 Housing and Urban Development (HUD) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or familial status.

EHO

Accepting applications for 1, 2 & 3 Bedroom Apartments.

Rent is based on income.

Income restrictions apply, call for details.

360-424-4051 Relay: 711 The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or familial status.

EHO

“This institution is an equal opportunity provider and employer.”

“This institution is an equal opportunity provider and employer.”

“We accept comprehensive reusable tenant screening reports as defined in RCW 59.18.030”

“We accept comprehensive reusable tenant screening reports as defined in RCW 59.18.030.”

RE RE-Weekly 7

18849 CaSCade ridge Court, Mount Vernon

$815,000

1000 S 16tH Street, Mount Vernon

$325,000.00

60102 State route 20, MarbleMount

neW 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. Cul de sac street.

Danya Wolf (360) 708-8294 MLS#1922531 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 Danya Wolf doors to the partially covered deck, yours to enjoy rain or shine. MLS#1927143 (360) 708-8294

2XXX urban aVenue, Mount Vernon

$600,000

Prime commercial property with utilities in street, including P.U.D. water, Puget Sound Energy electricity; Cascade Natural Gas, fiber optics; cable; and sewer. SubjectTo survey and short plat. Property is located between ChicagoTitle Company easterly parking lot and Max Dale Restaurant’s south easterly parking Danya Wolf area. MLS# 1649968 (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

Mondo is a well-established and well-loved Korean and American family restaurant at the foot of the Cascade Mountain Range.

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

Business only $335,000 MLS#1926484 Business and property $790,000 Danya Wolf MLS#1926413 (360) 708-8294

Well-loved one bedroom home on Mount Vernon Hill with attached garage. Bring your ideas and make this one your own. Galley kitchen has ample counter and cupboard space.nBathroom very nice i g vanity, offers dlovely walk-in tile shower with glass doors, and flooring. n e P is beautiful and gives a more up to Hardwood flooring in bedroom date look. Good sized yard with plenty of space for a garden and a concrete patio to enjoy alone or with guests; mature landscape and fruit trees round out the enjoyment factor of this little gem. Adorable white picket fencing makes this home inviting, there is also privacy fencing on two sides.

Home is very conveniently located to medical services, shopping, schools, parks, and easy access to I-5 for commuting or traveling.

Patricia Box Danya Wolf Buyers agent (360) 708-8294 (360) 941-9186 MLS#1939213

SOL

D

1 Mountain VieW rd, Mount Vernon

$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 (LeGro and Associates) and wetlands have been delineated (Oscar Graham and Pat Bunting). Power and PUD water are available at the street. Danya Wolf (360) 708-8294 MLS# 1861233 20787 bulSon rd, StanWood

$350,000

21290 lafayette rd, Sedro-Woolley

John Hunter (360) 202-3086

1564 H Street rd, blaine

Suzanne Jenkins (360) 941-2983

360.424.0300

$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 Carla Fischer this home. Lots of parking for you and your guests.

(360) 982-0100

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 Danya Wolf (360) 708-8294 convenient for commuting. MLS# 1841822

Elva Hunter (360) 202-3086

$790,000

Phil laMay (360) 840-3086

$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

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 214419-1

8

RE-Weekly

June 10, 2022