Real Estate Weekly October 2, 2020

INSIDE

This Issue

AFRICAN-AMERICAN HOMEOWNERSHIP IS LOWER THAN DESIRED PAGE 5 HOME INSPECTIONS CAN SUPPORT A HIGHER SALE PRICE PAGE 7 CLASSIFIEDS PAGE 7

OCT. 2 - 8, 2020

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INSIDE

TABLE OF CONTENTS

PAGE

5

Q&A

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

African-American homeownership is lower than desired?.................................................P5 Home inspections can support a higher sale price............................................................P7 Classiÿ eds...........................................................................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

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

SANDI RILEY 770-8670

442 48TH STREET, MOUNT VERNON

55+

$430,500

NE W

17116 AVON STREET, MOUNT VERNON

PR ICE !!

$525,000

SUN SET VIE WS !

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

*LOVELY ‘’WOODSIDE’’ CRAFTSMAN RAMBLER, GREAT NEW PRICE! *UPGRADED INSIDE & OUT, LOVELY GRANITE KITCHEN, GAS HEAT, A/C *2 BEDROOMS, 2 BATHS, DOUBLE GAR., FENCED YARD, COVERED PATIO

*GORGEOUS LOG HOME & BIG SHOP,. MAKE YOUR DREAMS COME TRUE! *3 BEDROOMS, 2+ BATHS, FULL BASEMENT, OVERSIZE GARAGE *BIG 24 X 36 SHOP + COVERED R.V. PARKING, VALLEY/SUNSET VIEWS TOO!

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55+

$148,900

UN IT # 97

YOUR HOME FEATURED HERE! CALL FOR A CURRENT ‘’MARKET APPRAISAL’’ SANDI RILEY 360-770-8670 2610 E. SECTION ST. “LITTLE MTN. ESTATES’’ M.V.

$173,900

UN IT # 49

55+

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CALL SANDI RILEY 360-770-8670

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

*NEW LISTING! UPGRADED/UPDATED ‘’FLEETWOOD’’ 3 BEDROOM *2 BATHS, FAMILY ROOM, ALL NEW FLOOR COVERINGS & MORE *GORGEOUS MASTER SUITE, GAS HEAT, 55+ PARK BEAUTY!

*JUST LISTED, FABULOUS VALUE FOR THIS LOVELY ‘’GOLDENWEST’’ HOME *3 BEDROOMS, 2 BATHS, PRIVATE MASTER SUITE, GAS HEAT *NEW WOOD LAMINATE FLOORS, FIREPLACE W/GAS INSERT, VALUE PLUS!!

$119,950

UN IT # 73

23734 RUTH LANE, ‘’CONWAY’’ MT. VERNON

$448,900

SOLD

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

6932 STEELHEAD LANE, BURLINGTON

$363,900

SOLD

CALL ANITA KOHL 360-961-7795

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

*BRAND NEW ROOF & EXTERIOR PAINT, PRICED TO SELL! *2 BEDROOMS, 2 BATHS, GAS HEAT, A/C, NEW FLOOR COVERINGS *LG. SHOP/BONUS ROOM BEHIND CARPORT, TREX DECK

*DESIRABLE CONWAY SCHOOL DISTRICT, EASY I-5 ACCESS *CUSTOM 3 BEDROOMS, 1.75 BATH RAMBLER W/LARGE FAMILY ROOM *DOUBLE GARAGE, R.V. COVERED PARKING, 1.27 PARKLIKE ACRES!

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

Katey Von Hagel Marketing Representative 360.707.1076

LAND TITLE AND ESCROW W

2035117

2

Eldon Brown Skagit County Manager 360.707.2158

$162,500

CALL SANDI RILEY 360-770-8670

55+

Cathy West Oak Harbor Escrow Manager/LPO 360.679.5055

UN IT # 54

55+

CALL SANDI RILEY 360-770-8670

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

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.

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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

2025889

October 2, 2020

STAT Real Estate Stat

47% The percentage of client leads social media gets for Realtors.

Source: National Association of Realtors

FEATURED HOME FROM COVER:

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

602 ALEXANDER ST., SEDRO-WOOLLEY

Tel. 360-416-4902

www.npsar.realtor

Preparing for Winter in Fall Autumn’s arrival means sweater weather, pumpkin flavored everything and getting the house ready for winter.

Smart homeowners know that the perfect time to start preparing for cold weather is before the weather arrives.

Come October, homeowners should:      

Schedule a checkup for their heating unit Clean or replace filters on HVAC units Have chimney flues cleaned Check door and window seals for wear Clean and store outdoor furniture Check/clear rain gutters and downspouts

Autumn is also the perfect time to deep clean windows. It will be worth it when the sun shines in, even on the darkest days of winter.

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.

October 2, 2020

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Skagit Tradition Realty 3780 E. College Way Mount Vernon, WA 360-424-0300 www.skagittraditionrealty.com

$410,000

KIM SCHLIMMER 360-661-7670

Welcome to your new home in the heart of Sedro-Woolley. This large open floor plan home was built to last. Central heating by wood stove or high efficiency furnace keeps this home warm and cozy on cold nights. The front and back yard are fully fenced. The fruit trees are bountiful along the side yard. Need room for parking? This home features a large carport, garage and alley parking in the back. Enjoy this amazing jewel.

MLS# 1671221 3

2025918

NORTH PUGET SOUND ASSOCIATION of REALTORS®

Forbearance to refinance?

Question:

We bought our home several years ago and financed through the VA loan program. Rates have declined considerably since then, and we would like to refinance. The problem is that we’ve been impacted by the Coronavirus.

We lost our jobs for several months, and to keep things straight with our lender, entered into a mortgage forbearance program. Will forbearance hurt our chances to refinance?°

Answer:

The COVID-19 pandemic has impacted millions of people.

The government has changed numerous mortgage rules to prevent widespread homelessness, foreclosures, and a much-worse economic situation than we already have.°° You’ve done everything right. You went to your lender, explained the issue, and got forbearance. The result is that you avoided severe credit damage and a potential foreclosure.° The big question is what comes after forbearance. Some

guidelines are already in place.

First, the VA told lenders at the end of June that “while lenders must continue to follow VA’s underwriting standards generally, lenders should not use a CARES Act forbearance as a reason to deny a Veteran a VA-guaranteed loan.”

Second, the VA says that it “will not consider a Veteran as an unsatisfactory credit risk, based solely upon the fact that the Veteran received some type of credit forbearance or experienced some type of deferred payment during the COVID-19 national emergency.”

Third, to re-establish standing, a VA-qualified borrower must have “made at least six consecutive monthly payments on the loan being refinanced. For example, in a case where a borrower made five consecutive payments before invoking a CARES Act forbearance, such borrower would need to make six additional consecutive payments, post forbearance, in order to meet the seasoning requirement.”

Fourth, the closing date for the new loan must be at least “210 or more days after the first payment due date of the loan being refinanced.”°

Q&A

ASK OUR BROKER

By Peter G. Miller

Fifth, it may happen that a vet will want to refinance with a loan not backed by the VA program. In that case, you’ll want to look at the guidelines released in mid-May by the Federal Housing Finance Agency (FHFA). Among other things, the agency says, “borrowers are eligible to refinance or buy a new home three months after their forbearance ends.”

Eligible, yes, but not guaranteed a new loan. To get replacement financing, you’ll need to show that your finances have been re-established and have evidence of your ability to repay.° Until April 20, 2021, you can check credit reports weekly from Equifax, Experian, and TransUnion for free at°AnnualCreditReport.com. You will likely find that there is no reference to your forbearance plan or that the item is listed as a natural disaster. In either case, your forbearance plan will not lower your credit score.° For details, speak with lenders who handle refinancing for VA-qualified borrowers.° Email your real estate questions for Mr. Miller to°peter@ctwfeatures.com.

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October 2, 2020

Bokhari believes more homeownership educational resources need to be made available to African-Americans. Additionally, hiring within the mortgage and real estate industries should be more diversiÿ ed to ensure that underserved communities have advocates for educating and guiding them through the loan application and buying process.

“Alternative credit-scoring models can also allow for more perspective black homeowners to get approved, which would help combat the racial mortgage gap,” adds Bokhari. “And lender bias continues to exist – which needs to be dealt with through training and better hiring.”

Yun says increasing the supply of a˝ ordable homes can help, too. “° at requires building more homes and changing zoning laws to permit more construction,” notes Yun. “I would also favor more down payment assistance for those under certain income levels. ° e biggest barrier to ÿ rst-time homebuyers is saving up for a down payment.” homeownership is lower than related to mortgages, along with Janis Benstock, broker/owner of

By Erik J. Martin Philadelphia-based Settle Down Here’s what can help that for non-black households now outlawed past covenants CTW Features Philadelphia, says these are imin 45 large metros examined by that prohibited a home sale to s the Black Lives Matter movement gains Zillow, yet that gap is narrowing white borrowers). Earlier Redÿ n “I have personally been denied a person of color have contrib- portant steps, but they may not get to the root of the problem. momentum and more in half of those cities. research found that student home loans due to my debt-to- uted to the problem. ° is past “° e real issue that needs ÿ xing people are examining and Zillow further revealed that explicit discrimination has led debt, in particular, prevented income ratio. ° is was despite is that there are people in our addressing racial issues, it’s African-American home buyers the ability to buy (for 45% having a pretty good salary and to a lack of wealth, preventing country who are denied basic constructive to look closer at are more inclined to be at least of black respondents vs. 31% many black households from ample savings. Student loan human rights and privileges one area that shows both signs somewhat concerned about being able to pass on su˛ cient of white respondents), along debt really impacted me as a because of the color of their of progress and serious inequi- mortgage eligibility than white with credit problems (25% of wealth to the next generation.” ÿ rst-time homebuyer.” skin,” insists Benstock. “We do ties and deÿ ciencies: buying and buyers (59% versus 46%, African-Americans vs. 18.5% of Lawrence Yun, the Washington, Sheharyar Bokhari, a Camnot need to make white people owning a home. respectively). Financing is more whites).

D.C.-based chief economist for bridge, Massachusetts-located comfortable in order to make it According to research conduct- likely to be denied, at least once Joshlyn Ross, a home buying the National Association of Re- senior economist for Redÿ n, fair for black people to enjoy the ed earlier this year by Zillow, before being approved for a consultant for Houston-based altors, says the country is clearly says fair housing laws and anti- same basic human rights. We do the black homeownership rate mortgage, to black applicants discrimination housing policies not need to make excuses. We Real Estate Prep LLC, has not doing enough in terms of increased to 46.5% in 2007 than white applicants (76% personally experienced many of opportunity when two-thirds of can only go so far to improve need to make a change.” from 41.6% in 1970. But the versus 15%, respectively). the challenges mentioned above, Americans own property while the situation. ° at starts by combating sysGreat Recession helped bring A recent study by Redÿ n particularly those related to black homeownership remains “When you consider the temic racism. this number down to 41.1% revealed that debt is the top mortgage denial rates for black “So long as that fundamental student loan debt. consistently below 50%. between 2014 and 2016. On a reason African-Americans are families and equity lost through inequality exists, any outreach “Growing up, many African“Lack of ÿ nancial resources is positive note, the rate remore frequently turned down redlining, you realize that black or special program designed to Americans are told that college one big barrier – be it income bounded to 44% by late 2019, for a loan; 32.5% are denied will help you get a high-paying or wealth savings,” he says. “But families are still being denied increase the black homeownerbut that’s still below the 2007 due to their debt-to-income homeownership opportunities job. What they don’t talk about past explicit discrimination in ship rate is only addressing the peak. Regrettably, the black symptoms,” Benstock adds. ratio (compared to 27.9% of is the cost of college,” says Ross. terms of government redlining today,” he says.

African-American homeownership is lower than desired

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October 2, 2020

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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.

RealEstate weekly

Call 360.416.2180 Today!

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

6

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October 2, 2020

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CLASSIFIEDS Alpine Ridge Retirement Apartments in MV is accepting applications for 2 Bdrm apts. Income limits apply. 360-424-9622 for more info.

Room for rent. Private bath.

Looking for a mature quiet person to share my moms house on the lake. Avail.

Oct 1. $750/month.

Call/text 401-301-9494.

PUBLISHER'S NOTICE

Home inspections can support a higher sale price

By Marilyn Kennedy Melia CTW Features home inspection, which a buyer orders after submitting a formal o˝ er, is a hurdle most sellers would rather skip.

After all, when an inspection reveals ˙ aws like a foundation crack or wiring short in the attic, the seller typically has to get the problem ÿ xed or give the buyer a price credit before a contract moves to

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October 2, 2020

closing.

But Bruce Gordon, professor of ÿ nance and real estate at the University of North Alabama, has coauthored research showing that viewed broadly, sellers actually have a lot to like about inspections, which have become common in home sale transactions over the past couple of decades.

Inspections give buyers conÿ dence they won’t see expensive repair bills after moving in, which has low-

ered the gap between what newly constructed homes cost compared to similar existing homes.

Speciÿ cally, Gordon and his collaborator, Daniel Winkler, a ÿ nance professor at the University of North Carolina, Greensboro, studied data on more than 25,000 home sales in the Huntsville, Ala., metro area between 1996 – when inspections weren’t as prevalent -- and 2015. ° ey found the gap between brand new

and existing home prices moved from 21 percent down to 11 percent.

Inspections are a key reason buyers pay less of a premium for a brand new home, which often comes with a warranty that builders o˝ er.

But while overall inspections provide purchasers transparency, individual buyers have a burden to ensure that they hire a competent inspector, says Gordon, who’s also a real estate broker. “If I am

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choosing a home inspector, I generally try to ÿ nd one who is a member of the American Society of Home Inspectors (ASHI), because it shows that the inspector has some concern for standards and training, but ASHI membership is far from a guarantee of a good inspection,” he says.

He advises looking for lots of experience in the ÿ eld, perhaps coupled with previous work in home building or engineering.

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.

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.

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 17180 MEMORIAL HWY MOUNT VERNON

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 Kim Schlimmer

$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

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

Carla Fischer

360-982-0010

Veterans - I am pleased and 44821 KACHESS TRAIL #2C27, CONCRETE $116,500 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

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

Danya Wolf

360-708-8294

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 Elva Hunter pleased to be YOUR SRES® 360-202-3086 4969 HELENA LANE #2C78, 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

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

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

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

$600,000

I’m a Seniors Real Estate Specialist

45249 NESIKA TRAIL #2D33, LAKE TYEE $52,000

Buying or Selling Upriver?

2XXX URBAN AVENUE, MOUNT VERNON

$79,500

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

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 2035090

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