Real Estate Weekly: March 4, 2022

INSIDE

This Issue

PEAKING PROFIT FOR SELLERS. TOP AREAS WHERE HOMES FOR SALE FETCHED THE MOST PAGE 5 HOME SELLERS: ARE YOU READY FOR YOUR CLOSE-UP? PAGE 7 CLASSIFIEDS PAGE 7

MARCH 4, 2022

INSIDE

TABLE OF CONTENTS

PAGE

5

Peaking Profits for Sellers Top areas where homes for sale fetched the most..................................................P5 Q&A

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

Home Sellers: Are You Ready For Your Close-Up? .......................................................P7 Classifieds ...........................................................................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.

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March 4, 2022

STAT Real Estate Stat

811,000 The approximate number of new home sales in the month of December 2021.

Source: National Association of Realtors

NORTH PUGET SOUND ASSOCIATION of REALTORS® 525 East College Way, Ste J, Mount Vernon, WA 98273

Tel. 360-416-4902

www.npsar.realtor

206 LILAC DRIVE, MOUNT VERNON

$1,179,000

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



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

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.

MEGAN O’BRYAN 360-770-5817

SPENCER ROOZEN 360-708-0634

Gorgeous & spacious Hilltop stunner w/4 beds, 3 baths on .77acre. Level yard, garden shed, fire pit, backs to greenbelt for privacy. Room for everyone in this well-designed home.

Main level living includes primary suite, 2 guest rms, formal & informal living & dining areas, chef’s kitchen, sunny deck. Too many details to list: built-in display & bookcases, gas fpl, AC, double pantry, commercial range, double ovens. Primary suite includes sitting area, dream closet, 5pc bath, private office. Fully-finished lower level could be a lock-out mother-in-law or rental unit, w/wetbar, laundry, full bath, theater, huge rec/living room, woodpaneled study/craft room, & bedroom.

Ideal for work-from-home jobs. Circular driveway and oversized 3 car garage.

MLS#1895069

202118-1

March 4, 2022

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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!

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o y s i l s m

D r t $ s o a March 4, 2022

Peaking Profits for Sellers Top areas where homes for sale fetched the most

the average profit was $64,931 and $55,000. These numbers t’s hardly a surprise that the represent the highest level strong sellers’ market we’ve of home sale profits seen in America since at least 2008. observed over the last several The 10 most lucrative years has persisted into 2022, markets for sellers were, in showing no signs yet of abatorder: San Jose-Sunnyvaleing. It’s also hardly a shock to Santa Clara, California learn of the top markets where ($575,000 dollar gain); San sellers pocketed the most Francisco-Oakland-Hayward money on a sale. ($462,000); Los Angeles-Long Case in point: Per ATTOM Beach-Anaheim ($267,500); Data Solution’s most recent Seattle-Tacoma-Bellevue research, home sellers across ($264,606); San Diego-Carlsthe country earned a profit of bad ($262,000); Sacramen$94,092 on the typical home to–Roseville-Arden-Arcade sale last year. That’s an increase ($200,000); Riverside-San of 45% and 71% from 2020 Bernardino-Ontario, California ($180,000); Boston-Camand 2019, respectively, when

By Erik J. Martin

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March 4, 2022

bridge-Newton ($180,000); Portland-Vancouver-Hillsboro, Oregon ($176,000); and Denver-Aurora-Lakewood ($175,000).

“The top markets weren’t very surprising. High-price markets with high demand lead to rapidly rising home price appreciation. That allows sellers to cash in on the equity they’ve amassed,” notes Rick Sharga, executive vice president for RealtyTrac, owned by Irvine, California-based ATTOM Data Solutions. “But the raw numbers themselves are mindboggling and unprecedented.

For example, home sellers in the Bay Area made more profit

selling their home than the median price of purchasing a home in the U.S.” According to the report, the largest increases in investment returns on typical home sales last year occurred in Salisbury, Maryland (margin up 267.2%); Lafayette, Louisiana (up 227.4%); Montgomery, Alabama (up 195.4%); Mobile, Alabama (up 179.9%) and Augusta, Georgia (up 167.7%). In metros with a population of at least 1 million in 2021, the largest return on investment increases year-overyear happened in Raleigh, North Carolina (up 80.6%); Oklahoma City, Oklahoma

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(up 64.4%); Virginia Beach, Virginia (up 62.6%); Washington, D.C. (up 60.2%); and Chicago (up 59.4%).

“The most obvious factor behind the record increase in profits is home price appreciation, which was between 16% and 20% nationally and was higher in some of the markets identified in the report,” Sharga adds. “On a $1 million home, that means an increase in value of $160,000 to $200,000 in a single year, and home prices have been steadily rising for almost a decade now.

Historically low inventory of homes for sale, strong demand, historically low-interest rates,

and rising wages combined to drive prices to record highs.”

Cindy Bunch, a real estate agent with Keller Williams Atlanta Partners, says she’s never seen anything like this in the 22 years she’s worked in the Atlanta market.

“The number of homes for sale is so far below the number of buyers who want to purchase residential real estate that the prices are jumping up to unprecedented amounts,” explains Bunch. “How long this will last is unknown. But this trend of off-the-charts higher record profits simply isn’t sustainable long-term, I believe.”

Ask Maggie Wells, a Realtor in Lexington, Kentucky, and she’ll tell you that this trend will likely continue for at least a few more years.

“Even if you aren’t in a top market right now, it remains a great time to sell if it makes sense for you and your family,” suggests Wells. “I wouldn’t sell simply to realize a huge profit, because then you’ll have to enter the same competitive market to purchase your next home, as you have to live somewhere. But if this isn’t an issue, I’d recommend selling now before the interest rates rise any further.”

Sharga subscribes to that theory.

“There is not a huge incentive for most homeowners to rush to sell their property to maximize profits. Every situation is unique, and homeowners should look at their overall financial picture rather than rushing to take advantage of today’s sellers’ market,” he adds. “It’s very likely you’ll get top dollar for your home today and sell it in a very short period. But it’s also likely that prices will continue to go up in most markets, so there’s no need to absolutely list a home right this minute.”

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How Do You Know How Much to Bid on a Home?

Question:

Our local market has cooled down. However, multiple offers for a single home are still common. How do we know how much to bid?

Answer:

Think of a football game. There are two teams, and maybe one is likely to win based on recent performances. But picking winners is hardly certain.

There can be injuries, coaching mistakes, dropped balls, and who knows what else.

Real estate pricing is somewhat similar. There is generally a sense of how given homes should be priced based on the recent sales of like properties, but such impressions can be wildly off base.

As a buyer, you want to obtain the property at the lowest possible price and with the best possible terms.

The seller wants the highest price and best terms.

However, the process by which buyers and sellers establish their sense of value is not always objective, something that can be worked out with formulas and numbers. It happens all the time that sale results are influenced by such issues as history, ego, and status, characteristics that cannot be measured.

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It’s good to think of the listing price as a starting point, an opening move. However, we don’t know how the list price was established. It might reflect recent sales nearby, the seller’s view of self-worth or a number picked at random.

Sellers can suggest any price they like, the real question is whether the market will accept it. If 12 people line up holding offers, then the ultimate sale price will be higher than the listing value.

Several steps are helpful to buyers.

First, know your limits. Get pre-qualified by a lender before house hunting to have a realistic sense of what’s affordable.

Second, what’s happened with homes listed during the past three months? How many sold? How many didn’t? Are sale prices higher or lower than the asking prices? Are many home prices being reduced? How many days were properties on the market, on average?

Speak with brokers regarding the local market.

Third, is there something you can offer the seller that will make your offer stand out? All cash? A quick closing? A long closing – some sellers might prefer a delayed settlement so they have more time to move?

(However, in a situation with a delayed closing, interest

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Q&A

ASK OUR BROKER

By Peter G. Miller rates might rise by the time you need to close, making the transaction more costly for buyers.)

Fourth, does it make sense to make a full-price offer with seller contributions? That is, “yes, we’ll pay full price if we can get a $10,000 credit to fix the roof.” Or, maybe, “we’ll make a full-price offer if the seller will give us a credit equal to two mortgage points at closing.”

Etc. Fifth, is there something that might cause the owner to accept a speedy-but-lower offer? A lack of marketplace interest in the property? A job loss? A need to quickly relocate? A personal event such as a divorce?

Etc. Sixth, are there multiple bids for the property?

Beware of a bidding frenzy, where the property price goes up to the point where the home strains or exceeds affordability.

In the end, every sale situation is unique. Do your homework, speak with brokers, lenders, closing agents, and attorneys, and go to open houses. The more you know about local real estate activity, the more likely your buying strategies will be successful.

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

March 4, 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

Home Sellers: Are You Ready For Your Close-Up?

By Marilyn Kennedy Melia Before it’s listed or a potential buyer steps in, sellers should pour their best effort into making their home pictureperfect. After all, when the home is photographed – usually about a week before listing – is when hundreds of potential buyers will see it. The better the home looks in online video tours and slide shows, the more buyers will want to visit, or make an offer.

With the uptick in pandemic online shopping, photos pack more importance than ever. More than 90 percent shopped online pre-pandemic, now nearly all do, and some buy without a physical visit.

But a survey of 310 real estate photographers by HomeJab, a photo March 4, 2022

service, reveals that more than half say sellers aren’t putting enough effort into preparing for their shoot.

“Agents may be assuming their sellers know what they need to do to have their home ready for a photoshoot,” says Joe Jesuele, HomeJab CEO. An informal survey of agents shows they typically offer various levels of help to sellers. On its site, the National Association of Realtors {NAR} offers a handout for sellers, “How to Prepare for the Photo Shoot” that provides tips, most of them familiar with traditional advice for preparing for showings, like de-cluttering, except stepped up a level.

That’s because the camera magnifies.

Besides clearing clutter, it usually helps to remove some furniture, for instance.

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The NAR suggests sellers snap some photos on their own to get a feel of what fixes are needed. Cindy Chen, a Compass broker in New York City whose clients often sell apartments, says, “We rearrange furniture or move around items in the apartment between shots.”

Light lends to a better photo. “We try to schedule all photos for a sunny day,” says Kent Rodhaver, broker, NHSouthPointe, Saint Petersburg, Fla. In the interior, plenty of lamps and overhead light, plus sunshine, helps the camera capture a room at its best, agrees Darrell Plummer, broker/owner of Sierra Nevada Properties, Reno. But he also recommends turning off some interior lights when there’s a nice view outside a window to capture.

Sell your items for what they’re worth CLASSIFIEDS

7

$850,000

24094 n. west View rd, Mount Vernon

After 60+ yrs this Big Lake prime property on the

sunny side of the lake can now be yours. Approx.

80 ft of no-bank water front just minutes away from a nine-hole golf course. Property features a pier connected to a floating dock perfect for mooring your boat & watercraft. The approx. 4,500 SF of property bisected by N. West View Rd has an access road and additional possibilities for your needs.

We look forward to seeing you, in person, at the SICBA Home and Garden Show this year.

Besides the 2 bed 1 bath manuf. home the lot has a detached 750 SF garage/shop, out buildings and RV parking. And the large covered deck is

Our booth will be located in Building C, space 20.

perfect for watching eagles, seasonal waterfowl & spectacular sunsets!

Friday March 25th, 10-5pm, Saturday March 26th, 10-7pm and Sunday March 27th, 10-4pm

20787 Bulson rd, stanwood

Please Join us on Johnson Day - April 9th! We will be volunteering along with the Johnson family! This

P.S. Rotary tulip sales are also in April, Danya says stop by.

is a great family, community fundraising event and we are proud to be participating again this year!

See you there!

i’m a seniors real estate specialist

Every transition is an opportunity, regardless of your stage of life. By partnering with an SRES like one of us, you gain the help and experience of a Realtor® specializing in meeting the needs of home buyers and sellers 50+.

We offer you the opportunity to complete your transaction with patience, professionalism and the expertise you deserve. We are pleased to be YOUR SRES®

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

Carla Fischer (360) 982-0010

4619 s BeaVer Pond driVe, eagleMont

Elva Hunter

(360) 202-3086

Russ Lanker

MLS# 1848508

$99,000

Great neighborhood to build your home, large lot with all the utilities in street ready for your permit! Lot is surrounded by greenbelt for maximum privacy. Eaglemont is an 18 hole Championship Public Golf Course! Spend your time relaxing and enjoying life in beautiful Eaglemont nestled in the foothills of the Cascade mountains with awesome views of Mount Baker, walking trails and an abundance of wildlife! Once you’re here elva Hunter you’ll know you have found a hidden treasure!

(360) 202-3086 MLS#1880617 4619 S Beaver Pond Dr

Elva Hunter (360) 202-3086

John Hunter (360) 202-3086

wHalen driVe, Point roBerts

360.424.0300

$350,000 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. StanwoodCamano School District; and just ten minutes to I-5. Great country living yet convenient for commuting.

Danya Wolf MLS# 1841822 (360) 708-8294

$250,000 17180 MeMorial Hwy Mount Vernon $415,000

Magnificent views of Boundary Bay and the mountains!

Enjoy the lights of Vancouver BC, only 45 minutes away!

Less than 20 miles to Vancouver international Airport.

Point Roberts is a quaint community with forests, beaches (close to Maple Beach), and the ocean yet near to all that the big city has to offer. This lot is ready for your dream home; power at the street, water at the street (Point Roberts Water District).

Danya Wolf MLS# 1863417 (360) 708-8294

Suzanne Jenkins (360) 941-2983

Phil LaMay (360) 840-3086

(360) 708-1117

6.98 acre tract zoned Rural Intermediate. Level acreage with great road access both from Memorial Highway and from Avon Allen Road. Stop light and curbs at the intersection.

Special Use Permit potential. The Animal Hospital and an espresso stand is across the road to the west.

980 feet along Memorial Highway (SR-536);620feetalongAvonAllenRoad. Danya Wolf MLS# 1572330 (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 178153-1

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