Real Estate Weekly September 18, 2020

INSIDE

This Issue NEW REAL ESTATE CHANGES PAGE 5 BUILD A RETIREMENT ON REAL ESTATE? PAGE 7 CLASSIFIEDS PAGE 7

SEPTEMBER 18 - 24, 2020

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TABLE OF CONTENTS Q&A

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

New real estate changes ..............................................P5 Build a retirement on real estate? ...........................P7

INSIDE

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

PAGE

5

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 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.

Sandi riley 770-8670

2610 E. SECTION ST. ‘’LITTLE MTN. ESTATES’’ M.V.

$148,900

17116 AVON STREET, MOUNT VERNON

E! RIC WP NE

UN IT # 97

55+

$525,000

SUN SET VIE WS

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442 48TH STREET, MOUNT VERNON

2610 E. SECTION ST. ‘’LITTLE MTN. ESTATES’’ M.V.

2610 E. SECTION ST. ‘’LITTLE MTN. ESTATES’’ M.V.

$175,500

UN IT # 115

55+

$448,900

$178,900

UN IT # 105

55+

55+

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*OPEN PLAN CRAFTSMAN W/FENCED YARD & PATIO & SUNDOWNER AWNING *UPGRADED WOODSIDE BUNGALOW W/GAS HEAT, A/C, GRANITE KITCHEN *2 BEDROOMS, 2 BATHS, INCLUDES ALL APPLIANCES!

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1103 COURTNEY LANE, ‘’BURLINGTON HILL ESTATES’’ BRL.

2610 E. SECTION ST. ‘’LITTLE MTN. ESTATES’’ M.V.

6932 STEELHEAD LANE, BURLINGTON

$128,900

ING

PEND

$204,900

SOLD

$363,900

SOLD

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*GATED 55+ PARK NEAR BURLINGTON HILL, CLOSE TO ALL SERVICES *SPACIOUS 3 BEDROOM, 2 BATH + FAMILY ROOM ‘’FLEETWOOD’’ *BIG DOUBLE GARAGE, AFFORDABLE SPACE RENT!

*BACK OF PARK PRIVACY, ENJOY 55+ LIVING AT IT’S BEST! *’’SHY’’ 2000 SQ. FT. TRIPLEWIDE W/3 BEDROOMS, 2 BATHS *GAS HEAT, A/C, BIG DOUBLE GARAGE + HEATED SHOP

*R.V. COVERED PARKING, DOUBLE GARAGE + SHOP, RIVER FRONTAGE! *3 BEDROOMS, 2 BATHS, NICE FAMILY ROOM W/FIREPLACE/INSERT *NEWER VINYL WINDOWS, WOOD LAMINATE FLOORS, MORE! 2033573

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September 18, 2020

STAT Real Estate Stat

1,850 The amount of square footage in a typical home purchased in 2019 Source: National Association of Realtors, 2019

Cathy West Oak Harbor Escrow Manager/LPO 360.679.5055

Eldon Brown Skagit County Manager 360.707.2158

Christa Canell Freeland Escrow Manager/LPO 360.331.4838

Brandi Jensen Stanwood Escrow Manager/LPO 360.629.9737

Katey Von Hagel Marketing Representative 360.707.1076

LAND TITLE AND ESCROW W September 18, 2020

Holly Mathers Island County Title Manager 360.675.2246

Shelley Nevitt Anacortes Escrow Manager/LPO 360.299.0565

Service you deserve with people you trust Visit any of our 5 locations in Oak Harbor, Burlington, Freeland, Stanwood and Anacortes

Ltco.com

NORTH PUGET SOUND ASSOCIATION of REALTORS®

Shelley Miner Burlington Escrow Manager/LPO 360.707.2312

525 East College Way, Suite J

Mount Vernon, WA 98273 (360) 416-4902

www.npsar.realtor

The Term REALTOR® The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

Local associations are required to enforce the code of ethics through a Professional Standards Council or Committee.

The REALTOR® Political Action Committee (RPAC) fights for Homeowner and property rights in Washington DC, Washington state and right here in your community.

Using a designated REALTOR® assures that your transaction in handled ethically, and that your rights will be protected now, and in your future as a homeowner.

To find a REALTOR® member in your area, visit www.npsar.realtor and view our member and affiliates lists.

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.

2025889

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Landing a nice rate Question:

We’ve been talking about mortgage rates with some friends who live in another state and wonder how much of a difference location makes. Do borrowers pay different rates based on where they live?

Answer:

Mortgage rates are fairly consistent across the country, but sometimes there are small differences. You can see this for yourself by using the state comparison calculator maintained online by the Consumer Financial Protection Bureau (CFPB) (See: https://www.consumerfinance.gov/owning-a-home/ explore-rates/).

However, other factors are far more important than location.

Here are the main issues to consider when applying for a mortgage.

How much down do you expect to pay? You would ideally like to purchase with 20% down because this will allow you to avoid mortgage insurance costs. In practice, most borrowers finance with significantly less upfront. Figures from the National Association of Realtors (NAR) show that in 2019 first-

time buyers generally purchased with 6% upfront while repeat buyers bought with 16% down.

What is the loan-to-value ratio? The more down, the lower your loan-to-value ratio (LTV). Lenders love big down payments because it means less risk for them.

What’s your credit standing? The higher your credit score, the easier it is for lenders to accept your application. Experian says that credit bands look like this: 800 or more -- exceptional 740-799 -- Very good 670-739 -- Good 580-669 -- Fair 579 or less -- Very poor How long is the loan? Longer loans have higher rates than mortgages with shorter terms. For instance, the rate for a 30-year mortgage will be higher than the rate for 15-year financing. The reason is that loans with a shorter term are repaid more quickly, and therefore the lender has less risk.

Is the rate fixed or adjustable? Mortgage loans come with either a fixed rate of interest or an adjustable-rate. These types of rates are traditionally lower than fixed rates, but not always. Because adjustable rates are subject to change, they

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VISIT RE-WEEKLY.COM TO EASILY SEARCH FOR LOCAL REAL ESTATE LISTINGS!

Q&A

ASK OUR BROKER

By Peter G. Miller

can go higher. For instance, let’s say you have a 5/1 ARM. For example, in a market where fixed-rate financing is available at 3%, maybe you can get a 5/1 ARM at 2.75%. However, that rate is only good for the loan’s first five years. After the fiveyear start period is over, the ARM rate may move up or down.

The reason ARMs usually have lower start rates is because lenders want to encourage borrowers to finance with such mortgages. When a borrower finances within ARM, the risk of inflation shifts to the borrower and not to the lender. However, ARM start rates can actually be higher than fixed rates. For instance, this was the case in July, according to Freddie Mac. Which loan program will you use? Interest rates can differ depending on whether you finance the property with a conforming mortgage or with a loan backed by the FHA, VA, USDA, or private mortgage insurance.

To see where you stand as a potential mortgage borrower, get preapproved with a lender for more details and information.

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

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EASY TO USE TOOLS & THE MOST UP-TO-DATE INFORMATION FOR FINDING LOCAL REAL ESTATE

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September 18, 2020

New Real Estate Changes

By Erik J. Martin CTW Features he coronavirus has impacted lives across the country in ways small and big. For proof of the latter, consider its effect on housing over the last several months. New research shows that COVID-19 has had a dramatic impact on real estate decisions.

Three out of four people who were counting on buying or renting a new home between March and June 2020 have changed those plans, according to new data published by FinanceBuzz.

The reason most often given was the inability to tour new properties because of pandemic restrictions (cited

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September 18, 2020

by 42% of survey respondents). Among the study’s other significant findings: More than six in 10 say 2021 is the soonest they would feel comfortable renting or buying a residence, 16% have temporarily relocated due to the coronavirus, Over one in four admit COVID-19 has prompted them to ponder moving permanently.

A separate recent study by Realogy found that, because of the pandemic, 19% of Americans age 50 and older are thinking of moving to a rural area eventually, 9% are considering a relocation to the suburbs, and 6% are giving thought to claiming a

How homeowner and buyer plans are changing due to the pandemic city address in the future.

“While we suspected that COVID-19 was causing many Americans to rethink how and where they wanted to live, we were still surprised by just how many people are considering moving,” says Tracy Odell, vice president of Content for FinanceBuzz in Delray Beach, Florida. “We were surprised to find that a whopping 45% of Americans who’d been furloughed or laid off during COVID-19 are considering moving. And it’s revealing that only one in four Americans who are

planning to buy or rent a new home in the last few months reported that they followed through with these plans.”

Katrina Helmkamp, president and CEO of Realogy’s Leads Team, based in Madison, New Jersey, says the biggest takeaway from her survey is that among those who live in an urban area currently, 37% say they are thinking about moving to a rural or suburban area in the future because of the coronavirus.

“Many Americans are experiencing loss of income or

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simply reconsidering where they want to live because of COVID-19,” notes Helmkamp. “And these concerns reflected in the study represent a rational response to what many Americans have been experiencing lately due to the pandemic and resulting economic downturn.”

Jane Vitou, senior real estate specialist with Westlake, Ohio-based Keller Williams Citywide, can vouch for the veracity of these findings, at least in her market.

“Many of my would-be sellers have told me they are not planning to sell now because they don’t like the idea of having people walking through their homes. This makes it a tough market

for buyers who are looking to move out of the urban areas and into the suburbs,” notes Vitou. “Most sellers have stated they will be ready in 2021 or whenever COVID-19 is gone. I don’t think they are overreacting.

We’re all walking in the dark on this one – no one really knows how safe is too safe.”

Despite the risks, some experts recommend proceeding as normal, although with proper safeguards in place.

“My advice to sellers is to list their homes now.

The virus will not go away overnight. Take precautions, use masks, practice social distancing, and use technology like virtual tours, but get your house on the market, as this remains a favorable market for sellers,” suggests Nick Ron, CEO of House Buyers of America in Chantilly, Virginia.

Buyers, meanwhile, should tread carefully but not necessarily postpone their home purchasing plans; that’s because mortgage interest rates remain near record lows, making this a great time to finance a home if you can qualify.

“I’m telling buyers to be incredibly specific about what they are looking for and exactly how much they can spend. Then, if they find the perfect house, they must be ready to submit their highest and best offer as soon as possible knowing that they will likely find themselves in a multiple offer situation,” Vitou says. “Prepare to do more house hunting online as well. And when tours are available, use gloves, masks, hand sanitizer, and social distancing.”

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

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B M C

R

l p F s y V s Th i A

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CLASSIFIEDS PUBLISHER'S NOTICE

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.

Build a retirement on real estate?

By Marilyn Kennedy Melia CTW Features eal estate is Americans’ number one pick for a solid long-term investment, a place its held since 2013.

Faith in real estate over stocks strengthened this year due to the COVID-19 stock market stumbles.

That trust may be rooted in the fact that the typical American homeowner’s

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September 18, 2020

biggest source of wealth in retirement is the portion of his home’s value that is not mortgaged.

But given real estate’s allure, it’s not surprising that many also plan to retire from other real estate investments. Some $5.6 billion worth of property – principally one- to four-unit rental residences – are held in “self-directed IRAs,” which differ from the traditional version by allowing income-produc-

ing real estate.

Another $27.7 billion in self-directed IRAs is invested in limited liability companies, which typically own incomeproducing real estate, says Tom Anderson, president of the Retirement Industry Trust Association.

Some people “know properties very well, say in their own town,” says Anderson, “and they feel comfortable they will be getting a fixed rate of

return.”

But while there may be billions worth of rental properties invested in selfdirected IRAs, they aren’t for everyone, warns Scott Bishop of STA Wealth Management, Houston.

One common misconception is that people think they can buy a vacation home using IRA funds this way, he explains.

But the rules forbid any self-directed IRA investment for personal use. If

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the IRS finds violations, it can “disqualify the IRA and deem it a distribution subject to taxes and possible penalties.”

Rental properties can’t be managed by the self-directed IRA owner, either.

For those with no intentions of being a hands-on landlord, that’s a plus for the self-directed route, notes Bishop.

There could also be current taxes on rental income, especially if the

2 Bdrm house with loft on 1/4 acre, needs remodeled but is livable, asking cash out $149,500. To view call 520-221-1607 or 360840-3292.

2 Bdrm house with loft on 1/4 acre, needs remodeled but is livable, tax value $180,000 asking $159,500. To view call 520-221-1607 or 360-840-3292.

real estate is purchased with borrowed funds.

All in all, it’s complicated. Anyone thinking of putting real estate in their retirement portfolio should first consult a trusted advisor.

10 - January 29, 2019

7

H StReet RD., BlaiNe

$1,200,000

lOtS 2&3 lakeSiDe DRiVe, GleNHaVeN lakeS

$49,900

NEW Build your dream home on these two adjoining lots near Glenhaven community amenities: pool, clubhouse, tennis/basketball courts, outdoor exercise area, playground, enjoy nature with trails and trout stocked lake, 2 boat launches, community events; near several area lakes. Easy commute, 1/2 way between Mount Vernon and Suzanne Jenkins Carla Fischer Bellingham. MLS# 1628528 360-941-2983 360-982-0010

Danya Wolf Carla Fischer Suzanne Jenkins Elva Hunter John Hunter Sherry Ruderman Brett Tacker Russ Lanker Yolanda Sakuma Celia Miller Phil LaMay JoAnn Boudreau

Eighty (80) acres of mostly woods including Western Red 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 edge of the property to the east of the gate. Future homesite/ Pasture land along the southwesterly edge of the property. Potential for up to 16 building sites. Shown by appointment.

Danya Wolf MLS#1568051 360-708-8294

7308 HOBSON RD., BOW

$235,000

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

360-708-8294 360-982-0010 360-941-2983 360-202-3086 360-202-3086 360-540-1552 360-840-7931 360-708-1117 360-421-0435 360-391-6065 360-840-3086 360-391-0746

Carla Fischer

360-982-0010

63868 CaSCaDe PaRk PlaCe, DiV 1 lOt 59, MaRBleMOuNt $227,000 Veterans - i am pleased and honored to offer a discount to our military. My family settled in the Skagit Valley after my husband retired from the Navy, so i am happy to help you navigate your new community.

Need to get away? This riverfront property has the serenity you’ve been looking for! The 3 bed / 1 bath cabin is ready to be your vacation place or forever home, it’s up to you! Cabin has free standing stove to make for cozy evenings indoors, a beautiful deck to enjoy your morning coffee as you listen to the river go by, a fire pit to enjoy the evenings, roast a marshmallow or two! There is a very nice storage building that could be a ‘man-cave’ or a ‘she-shed’! Sherry Ruderman A must see! Don’t miss this one! MLS# 1642568 360-540-1552

i’m aSeniorsRealestateSpecialist Every transition is an opportunity, regardless of your stage of life. By partnering with an SRES like me, you gain the help and experience of a Realtor® specializing in meeting the needs of home buyers and sellers 50+. I offer you the opportunity to complete your transaction with patience, professionalism and the expertise you deserve. I am pleased to be Elva Hunter YOUR SRES® 360-202-3086

17180 MeMORial HWy MOuNt VeRNON

$425,000

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); 620 feet along Avon Danya Wolf 360-708-8294 Allen Road. MLS# 1572330

45249 NeSika tRail #2D33, lake tyee $52,000

44821 kaCHeSS tRail #2C27, CONCRete

Beautiful vacation property at Lake Tyee. 2016 Cavco Park Model with stackable w/d h/u. Sunny lot with comfort station just one property away. Just up from the lake and easily accessible from the main or back gate. Full size appliances and ready for you to make your very own. Enjoy all the amenities ie. pools, hot tubs, basketball, volleyball, tennis, horse shoes, miniature golf, hiking, fishing and lake. Call now to view your new Sherry Ruderman property. MLS# 1446939 360-540-1552

Want to get away? This piece of tranquility at Lake Tyee is quiet with peek-a-boos of the lake & gorgeous territorial views. The park model is roomy, well maintained & the room addition is extraordinary!

You can hunker down and/or be great for entertaining. This beautiful property comes with many extras & is waiting for you to come see. Amenities include mini-golf, tennis, basketball, volleyball, horseshoes, beaches, playgrounds, frisbee golf, hiking, etc. Dues Sherry Ruderman $162/mo & 210 days/yr usage. MLS# 1646119 360-540-1552

Buying or Selling upriver?

Call me! Sherry Ruderman!

I have 7 years’ experience working with both buyers and sellers in my favorite areas.

Upriver and the Lake Tyee Resort! I have buyers waiting!

Call today!

Sherry Ruderman

$109,500

2xxx uRBaN aVeNue, MOuNt VeRNON

Prime 1 acre level, commercial parcel, subject to boundary line adjustment. MLS#1649968

$600,000

Danya Wolf

360-708-8294

BuilD yOuR DReaM HOMe iN eaGleMONt!

4629 BeaVeR POND DRiVe S. Eaglemont Golf Community offers an 18 hole Championship public golf course. All utilities are in the street and ready to build.

MLS# 1504177

$105,000

Elva Hunter

360-202-3086

4969 HeleNa laNe #2C78, CONCRete

$79,500

Enjoy the fresh air and gorgeous view as you sip your morning cup of coffee on the porch of this newer park model. For $162/mo and any 210 days/year, this is a perfect get-away. Yet, still so much potential to make it your very own. Make your way to the park amenities; pools, hot tubs, lake, tennis, basketball, mini-golf and so much more. Then, back to the cabin (roomy with bedroom and loft) and cozy up as you stare into the night sky where you can almost touch the moon and Sherry Ruderman stars. MLS# 1627851 360-540-1552

for voting US “2019 Skagit’S BeSt” 2 YEArS BESt rEA rEAl EStAtE officE, MoSt coMMUnitY MindEd BUSinESS

360-540-1552

360.424.0300

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 2031603

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