Real Estate Weekly September 25, 2020

INSIDE

This Issue SHOPPING FOR OUR FIRST HOME? PAGE 5

COULD MOVING MAXIMIZE REMOTE WORK SAVINGS? PAGE 7 CLASSIFIEDS PAGE 7

SEPT. 25 - OCT. 1, 2020

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TABLE OF CONTENTS Q&A

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

Shopping for our first home?.....................................P5 Could moving maximize remote work savings?....................................................P7

INSIDE PAGE

5

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

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

Cathy West Oak Harbor Escrow Manager/LPO 360.679.5055

Eldon Brown Skagit County Manager 360.707.2158

Shelley Miner Burlington Escrow Manager/LPO 360.707.2312

Christa Canell Freeland Escrow Manager/LPO 360.331.4838

Brandi Jensen Stanwood Escrow Manager/LPO 360.629.9737

Holly Mathers Island County Title Manager 360.675.2246

Katey Von Hagel Marketing Representative 360.707.1076

LAND TITLE AND ESCROW W

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.

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 2

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

2025889

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September 25, 2020

STAT Real Estate Stat

39% The percentage of sellers who used a real estate agent after finding them through referral by friends or family.

Source: National Association of Realtors, 2019

Sandi riley

FEATURED HOME, FROM COVER

770-8670

17116 AVON STREET, MOUNT VERNON

E! RIC WP NE

442 48TH ST. , ‘’WOODSIDE’’ MT. VERNON

$525,000

SUN SET VIE WS

$148,900

UN IT # 97

55+

$448,900

CALL SANDI RILEY 360-770-8670

*RUSTIC CHARM LOG HOME & FULL BASEMENT, NEW GAS FURNACE *3 BEDROOMS, 2 PLUS BATHS, LG. 650 SQ. FT. GARAGE, NEW TANKLESS H/W HEATER *16 X 20 COVERED DECK, BIG 24 X 36 SHOP & R.V. STORAGE, SUNSET VIEWS!!

YOUR HOME FEATURED HERE! CALL FOR A CURRENT ‘’MARKET APPRAISAL’’ SANDI RILEY 360-770-8670 1103 COURTNEY LANE, ‘’BURLINGTON HILL ESTATES’’ BRL.

$128,900

ING

*OPEN PLAN CRAFTSMAN W/FENCED YARD & PATIO W/SUNDOWNER AWNING *UPGRADED WOODSIDE BUNGALOW W/GAS HAT, A/C, GRANITE KITCHEN *2 BEDROOMS, 2 BATHS, ALL APPLIANCES, DOUBLE GARAGE! 2610 E. SECTION ST. ‘’LITTLE MTN. ESTATES’’ M.V.

SOLD

PEND

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

*ENJOY GATED 55+ PARK LIVING AT IT’S BEST, JUST LISTED!! *NICE 2 BEDROOM, 2 BATH ‘’DARTMOUTH’’ W/GAS HEAT & A/C *FINISHED GARAGE + 2 STORAGE BUILDINGS, CLOSE TO CLUBHOUSE!!

*GATED 55+ PARK NEAR BURLINGTON HILL, CLOSE TO ALL SERVICES *SPACIOUS 2 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

$324,900

SOLD

1068 ALDER DRIVE, ROCKPORT

WinDERMERE REAl EsTATE/skAgiT VAllEy 360-856-4901 • www.windermereskagit.com

$204,900

CALL SANDI RILEY 360-770-8670

1070 RIVER BEND ROAD, MT. VERNON

$348,900

SOLD

6932 STEELHEAD LANE, BURLINGTON

$363,900

SOLD

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

*COUNTRY SETTING CLOSE IN, ESTATE SALE, GORGEOUS VIEWS! *RECENT UPDATES, 3 BEDROOMS, 1.5 BATHS, ‘’60’2” CHARM *LG. DOUBLE GARAGE + CARPORT, COUNTRY 3/4 ACRE SETTING

*ONE OF A KIND RETREAT W/RUSTIC CHARM & PRIVACY ++ *2+ BEDROOMS, 2 BATHS, 2600 SQ. FT. + LG. BASEMENT *SAUK MTN. VIEW, MOSTLY WOODED 5 ACRES!

*3 BEDROOMS, 2 BATHS, LG. FAMILY ROOM + SUN ROOM *UPGRADED RAMBLER W/GAS FIREPLACE, NEWER VINYL WINDOWS *R.V. COVERED PARKING, DOUBLE GARAGE, SHOP, + RIVER FRONTAGE! 2033573

September 25, 2020

$560,000

55+

CALL SANDI RILEY 360-770-8670

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

4227 Sunray Court, Mount Vernon

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JaKe KOetJe 360-424-4901 Beautiful home in coveted Montreaux 55+ community!

Nestled in a quiet cul de sac near the park boasting many upgrades! Wonderful kitchen with stainless appliances, gas stovetop with electric convection oven, beautiful cabinetry, quartz counters, hardwood floors, stone fireplace & much more. Master bath with large shower, double sinks, beautiful glass backsplash.

Upstairs bedrooms & bonus room have wonderful natural light with views to Cultus Mt & Mt Baker.

Over $60K in interior upgrades & professional landscaping.

MLS #1657073

2030770

3

Self-employed shopping for a mortgage?

Question:

We’re a two-income family. My spouse has a full-time job with a local government while I’m self-employed. With interest rates so low, we want to buy a home but worry that nothing will be affordable without our self-employment income. Have lending rules for the self-employed gotten tougher as a result of the COVID-19 virus?

Answer:

There has long been a confusing relationship between mortgage lenders and the self-employed. Lenders want to make loans, the self-employed want financing, but underwriting those who work for themselves can be tricky.

Lurking in the background has been a long-time assumption. The idea that a paycheck is somehow steadier and more secure than the income reported on an IRS Schedule C. As the current economy shows, all income and employment must be carefully reviewed and verified in a crunch.

The usual expectation for the self-employed is that they have worked for at least two years to show two recent tax returns documenting their income. The lender asks for such paperwork because it must

verify that the borrower can repay the loan. Tax returns can show a viable income and a demand for the applicant’s skills and services.

The two-year standard is a barrier for the newly self-employed where there has been a recent career change, or income has declined.

However, if you go from employment to self-employment in the same field, and if your income holds up or improves. Then you might be able to slide by with less than two years of self-employment income.

Another point regarding underwriting standards for the selfemployed is that they vary. Not all loan programs have the same rules. In the case of portfolio mortgages -- loans, the lender does not sell into the secondary market -- the tests can be very different from the usual requirements. It makes sense for self-employed borrowers to ask lenders what paperwork and standards they require.

The COVID-19 economy has made lenders more cautious and with good reason: Millions of people with solid credit and long employment histories have suddenly lost their jobs. Many businesses have closed. If you’re a lender, you want to look beyond the usual standards to assure those self-employed borrowers have viable businesses and income.

You can see this with income verifications. For instance, Fannie Mae -- a major loan buyer -- has changed the standards lenders must

Q&A

ASK OUR BROKER

By Peter G. Miller

meet to prove continuing income.

“Given the current economic climate associated with COVID-19 and its impact on employment and income,” says the company, “we recommend that lenders practice additional due diligence to ensure the most recent information is obtained. Lenders are strongly encouraged to help ensure any disruption to borrowers’ employment (or self-employment) and/or income due to COVID-19 is not expected to negatively impact their ability to repay the loan.

During these uncertain times, it is our goal to partner with you to help ensure sustainable homeownership for the borrower.

“As an example of additional due diligence for a self-employed borrower, lenders are encouraged to attempt to verify that the borrower’s business is operational closer to the note date rather than rely on our current Guide requirements (e.g., within 15 days instead of 120 days).”

None of this is a big deal. Lenders will be pickier in the COVID-19 era, but if you were checking loan applications at this time, you would do the same thing. For details and specifics, speak with loan officers and ask about requirements for the self-employed.

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

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September 25, 2020

agent who works on commission may not have your best interests in mind is problematic. And this mistake becomes generational – getting handed down from other buyers who are not experts or not up to speed with the evolving market like a skilled agent is,” notes Ehrlichman.

It’s also predictable that many will opt to get a mortgage at the bank they are already using: commonly a convenience decision.

“But it’s best to take the time to shop around, speak with at least three lenders, and compare the terms, processes, and local references they share carefully,” Ehrlichman suggests.

Too many inexperienced buyers also execute their purchase and sales agreement without fully understanding the legal effect of that contract.

“That agreement often contains dozens, if not hundreds, of terms and conditions that are easy to gloss over. But the buyer should read it in full and ask the necessary questions to understand each provision and Real Estate Prep LLC, points to if in doubt, consult with an atAvoid these mistakes when searching other common faults first-timers torney,” recommends Heller. make.

When it comes to a homeownwhich isn’t always advisable,” process,” says Heller. “Often, “Many blindly agree to work ers’ insurance policy, it pays to explains Matt Ehrlichman, the buyer was overwhelmed with the experts that their real parse through it carefully.

CEO of Porch.com based in during the transaction and estate agent suggests without “Many of my buyers trust what Seattle. “It was also interestdidn’t get the proper representa- doing their homework. They their insurance expert says ing to find that 80% of buyers tion.” don’t invest in the knowledge without fully understanding didn’t even seek mortgage advice Geoffrey Zureikat, a principal needed to buy and maintain a the fine print. Read through it from a financial advisor; instead, broker with Compass Real home. As a result, they don’t thoroughly, ask questions about most looked to their families for Estate in Chicago, says it’s understand the various nuanything you don’t understand, input and how to approach a somewhat normal and underances that go into the purchase and know what you’re paying mortgage.” standable for slipups to occur, process and aren’t fully prepared and covered for,” Zureikat says.

Ben Heller, real estate litigaalthough they can be costly and financially for the transition Consider investing in real tion attorney for Los Angelesregrettable. from renter to owner, either,” estate educational classes and headquartered Schorr Law, says “Buying a home is usually the says Ross. first-time buyers make blunders biggest financial decision many One particular area of concern programs, too – especially if a lot more often than you think. make in their lifetime, so inher- is that first-timers tend to trust your lender or real estate agency offers them at no charge.

“Almost every day, our firm ently, there will be some anxiety, family and friends more than receives calls from a first-time and feeling stressed can lead to an experienced real estate agent “It’s important to invest in your home buyer who may have bad decisions,” Zureikat says. with whom they may not have home-buying journey and learn as much as you can,” suggests made a mistake during the Joshlyn Ross, a home buying as close of a relationship. home shopping and purchase Ross. consultant with Houston-based “This misconception that an

Shopping for your first home?

By Erik J. Martin CTW Features t’s no surprise that first-time homebuyers are often eager and excited to zoom through the purchasing process and claim their first property. The problem is that fervor, coupled with a lack of experience, can lead to mistakes, resulting in buyer’s remorse. But with the right approach and preparation, you can avoid common errors and sleep better at night, knowing you’ve completed the transaction with proper due diligence.

Porch recently polled homeowners who bought in the last year and found that first-timers were over three times more likely to feel unprepared purchasing a home than repeat buyers. They

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September 25, 2020

were also more apt to find their properties via word-of-mouth, for-sale signs, newspaper home listings, and family and friend recommendations than they were to consult real estate agents and online home listings.

Among all buyers, nearly 49% committed to a mortgage with a lender they were already banking at; three in four confessed that they didn’t completely understand the terms they were signing, and almost 37% didn’t fully comprehend their homeowners’ insurance policy or read that policy fully.

“I was also surprised to see that, roughly, only 22% of buyers shop around for the best financing option. Instead, most people choose to finance their homes through their primary lender,

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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 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.

B M C

RealEstate weekly F

Call 360.416.2180 Today!

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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.

Could moving maximize remote work savings?

By Marilyn Kennedy Melia CTW Features

F

or many of those forced to work from home during COVID-19, the shelterin-place order hardly feels like house arrest.

Surveys show up to half love the time and money saved from ditching their commute.

No surprise, then, that some remote workers are September 25, 2020

hoping to maximize the savings by making workfrom-home permanent, moving to a less expensive Indeed, recent Zillow data confirms more home searches in low cost-of-living areas.

Before making a big move, though, beware of possible pitfalls: Know if your employer will need you on-site Nicholas Bloom, a Stanford University

professor who has long studied remote work, says that companies have become “euphorically positive” about the success of remote work in this period. But Bloom predicts that post-pandemic, “many companies” will offer work-from-home on a partial basis, say two or three days weekly.

So, moving a very long distance could be risky, but an hour and a half

commute might be tolerable if it’s relatively infrequent.

Beware of the tax consequence of crossing state lines “Forty-one states,” explains Lawrence, MA-based CPA Mark Alaimo, “tax wages of both resident and non-resident for wages earned in the state.”

For example, illustrates Alaimo, a Pennsylvania resident who earns a

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high wage in New York, owes some eight percent of his income to New York State. While he receives a credit for the 3.07 percent of income tax that Pennsylvania levies, he’s still paying about five percent more than he would if his employer was in Pennsylvania.

Rules vary by state, so check with a tax advisor.

Less expensive locales could mean lower pay

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.

After Facebook announced it might adjust paychecks to the local cost-of-living for its remote employees far from pricey Silicon Valley, Bloom says many firms asked him if it’s a wise policy to consider.

Bloom advises against it, but it’s an idea tossed around in the corporate sphere.

10 - January 29, 2019

7

H Street rD., Blaine

$1,200,000

lotS 2&3 lakeSiDe DriVe, GlenHaVen lakeS

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

$49,900 4969 Helena lane #2C78, ConCrete

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

$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

Carla Fischer

360-982-0010

Veterans - i am pleased and 44821 kaCHeSS trail #2C27, ConCrete $109,500 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. 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

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

45249 neSika trail #2D33, lake tyee $52,000

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

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

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 360-661-7670

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

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

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

WElcomE Kim SchlimmEr!

Kim Schlimmer

360-661-7670

Realtor, Mother, Wife, Community Involved: I’ve been blessed with living in Skagit County for over 20 years now, where my husband snd I raised our two children Matthew and Stephanie. Our daughter was recently engaged to a wonderful local young man, Thor Wagoner. Steve and I have been together over 27 years. We enjoy hiking, traveling, gardening and having a wonderful time hosting friends and family.

Real Estate was a path suggested by a mentor, I had studied real estate investing for two years before becoming a Realtor. Since then I’ve helped many clients, in all different types of transactions: land, first time home, downsizing, new build, and commercial.

I’m excited to work with a great company with a long Tradition in Skagit Valley Real Estate. Real estate has been a great way for me to network and help my community as a Chamber Ambassador, Habitat For Humanity volunteer, as well as current VPE of our Shine and Rise Toastmaster Group.

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 2031606

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