Real Estate Weekly October 9, 2020

INSIDE

This Issue LADIES ARE DOIN’ IT FOR THEMSELVES PAGE 5 KEEPING A PAPER TRAIL, EVEN WHEN eCLOSINGS ARE ELECTRONIC PAGE 7 CLASSIFIEDS PAGE 7

OCT. 9 - 15, 2020

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TABLE OF CONTENTS Q&A

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

Ladies are doin’ it for themselves........................P5 Keeping a paper trail, even when eClosings are electronic...............................P7

INSIDE PAGE

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

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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

FEATURED HomE FRom covER:

16112 MOUNTAIN VIEW RD. MOUNT VERNON

770-8670

442 48TH STREET,’’WOODSIDE’’ MT. VERNON

55+

NE W

$430,500

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

*OPEN PLAN CRATSTMAN W/FENCED YARD & PATIO W/SUNDOWNER AWNING *UPGRADED THROUGHOUT W/GAS HEAT, A/C, GRANITE COUNTERS IN LOVELY KITCHEN *2 BEDROOMS, 2 BATHS, ALL APPLIANCES, DOUBLE GARAGE!

2035389

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

55+

$162,500

$128,900

MO TIV ATE D!

PR ICE !

CALL SANDI RILEY 360-770-8670 OpEN SUNDAY 1-4

RON WORTHAM 360-661-1500

Two Homes on 4.8 Acres, Main home is a traditional 2-story, 4 bdrms, 2.5 bths, 3262 sq ft with bonus rm & office. Second home is 3 bdrms, 2 bths, 2124 sq ft with completed daylight basement.

Gorgeous private setting with gated entrance, lovely backyard patio, hot tub, 4 garages, tons of storage, fruit trees, hen house and so much more. Located on the edge of Mount Vernon City limits in the county, just minutes to all amenities. $899,900 MLS#1658921

2

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

$899,900

Brown mcmillen Real Estate 235 W. Rio vista Avenue Burlington, WA 360-757-6013 www.brownmcmillen.com

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

CALL SANDI RILEY 360-770-8670 YOUR HOME FEATURED HERE! CALL FOR A CURRENT ‘’MARKET APPRAISAL’’ SANDI RILEY 360-770-8670 17116 AVON STREET, MOUNT VERNON

UN IT # 54

$525,000

GRE AT PRI CE!

*GATED 55+ PARK NEAR BURLINGTON HILL, CLOSE TO ALL SERVICES *SPACIOUS 3 BEROOM, 2 BATH + FAMILY ROOM ‘’FLEETWOOD’’ *BIG DOUBLE GARAGE, AFFORDABLE SPACE RENT! 2610 E. SECTION ST ‘’LITTLE MTN. ESTATES’’ M.V.

$173,900

UN IT # 49

55+

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

*NEW LISTING! EXCELLENT VALUE FOR THIS CUSTOM ‘’GOLDENWEST’’ DOUBLEWIDE *3 BEDROOMS, 2 BATHS, PRIVATE MASTER SUITE, HUGE KITCHEN W/NOOK *BIG LIVING/DINING RM. W/GAS INSERT FIREPLACE, NEW WOOD LAMINATE FLOORS!

*RUSTIC CHARM LOG HOME W/FULL BASEMENT, LOVELY SUNSET/VALLEY VIEWS! *NEW GAS FURNACE, NEW TANKLESS HOT WATER HEATER, LG. COVERED DECK *3 BEDROOMS, 2+ BATHS, BIG 24 X 36 SHOP + COV. R.V. STORAGE, MOTIVATED!

*JUST LISTED! UPGRADED ‘’FLEETWOOD’’ 3 BEDROOM, 2 BATH *FAMILYROOM, ALL NEW FLOOR COVERINGS & INTERIOR PAINT *GORGEOUS MASTER SUITE, GAS HEAT, GAS STOVE, 55+ PARK BEAUTY!

2610 E. SECTION ST. “lITTLE MTN. ESTATES’’ M.V.

55+

$148,900

UN IT # 97

1070 RIVER BEND RD., MT. VERNON

$324,900

sOlD

1068 ALDER DRIVE, ROCKpORT

$348,900

sOlD

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

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

*COUNTRY SETTING CLOSE IN, ESTATE SALE W/GORGEOUS VIEWS! *RECENT UPDATES, 3 BEDROOMS, 1.5 BATHS, MUCH MORE *LG. DOUBLE GARAGE, CARPORT, COUNTRY 3/4 ACRE SETTING

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

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2035430

October 9, 2020

STAT Real Estate Stat

$74,900 The median household income of repeat buyers 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

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

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

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 9, 2020

Cathy West Oak Harbor Escrow Manager/LPO 360.679.5055

LAND TITLE AND ESCROW W

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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

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Q&A

New fees?

Question:

We wanted to finance a home in mid-August, but rates suddenly jumped. When we asked the lender about this, she said the government had added a new refinancing fee. Yes, but we were not refinancing, we were financing. Why should home buyers have to face higher rates because of a refinancing fee?

Answer:

Mortgage lending was on an amazing run until mid-August.

According to Freddie Mac, weekly rates for 30-year financing had fallen from 3.72% at the start of January to 2.96% in mid-August, not far from the all-time low. Mortgage lenders were flooded with applications. In mid-summer, the Mortgage Bankers Association reported that refinancing applications were up 111% when compared with a year earlier.

And then the government stepped in.

On August 12, at night, and without prior notice, Fannie Mae and Freddie Mac -- known as “government-sponsored enterprises” (GSEs) and both now controlled by government regulators -- announced the establishment of a new .5% “adverse market

ASK OUR BROKER

By Peter G. Miller

refinance” fee for refinanced mortgages starting September 1. Not for purchase money mortgages, just for refinances.

An additional .5% fee in the middle of a pandemic economy is a problem. When borrowers have lower monthly costs, they represent less risk to lenders and investors. Raising loan fees means that some borrowers will be unable to finance or refinance and benefit from lower rates.

For example, if a $180,000 mortgage is refinanced, the new fee means an extra $900 expense. That amount can be paid in cash at closing or added to the new loan amount. In either case, it’s a real cost and surely at this moment – or any moment -- a lot of households can use $900 in other ways.

Lenders sell their mortgages in the secondary market to get new cash so they can make more loans. But, they can’t just sell any loans. They generally need to sell loans that meet Fannie Mae or Freddie Mac guidelines, so-called “conforming” mortgages.

The summer fee announcement meant that most mortgage lenders had to either eat the new cost or pass it through to borrowers. If you were a lender with a line of potential borrowers at the front door, what would you do? Right. Refinancing rates rose in mid-August because of government action. Rates rose in mid-August even for

purchase money mortgages, loans not touched by the new fee.

Just about every real estate association you can name came out against the new fee. In a joint letter to federal regulators, they explained that the “surprise announcement by Fannie Mae and Freddie Mac (the GSEs) conflicts with the Administration’s recent executive actions urging federal agencies to take all measures within their authority to support struggling homeowners. The additional 0.5% fee on Fannie Mae and Freddie Mac refinance mortgages will raise costs for families trying to make ends meet in these challenging times. In addition, the September 1 effective date means that thousands of borrowers who did not lock in their rates could face unanticipated cost increases just days from closing.”

On August 25, the government changed its mind. Now, it said, the new fee will start December 1 and exclude refinancing loans that do not exceed $125,000.

So, for the moment, at least, the stealth fee is off the table.

For the latest information, speak with loan officers – and check the news from Washington.

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 4

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October 9, 2020

Ladies are doin’ it for themselves

By Erik J. Martin CTW Features ingle women – especially those without children – don’t necessarily need a bountiful abode with multiple bedrooms and a spacious yard.

Many of them believe the ease and flexibility of renting outweigh the benefits of buying a home. Yet homeownership is an increasingly higher priority for many solo females today, research shows.

A new report by First American reveals that, in 2019, the homeownership rate for divorced, separated, widowed, and other single women was 2.2% higher than for single men. The homeownership rate for single women jumped from 49% (a 20-year low) in 2016 to nearly 51 percent in 2019. That’s a speedier average annual growth rate than the country’s overall rate.

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October 9, 2020

What’s more, Freddie Mac data show that their home purchase mortgage clients who are single women increased by 30% between 2010 and 2019. And a 2018 Bank of America study reported that single women prioritize homeownership over single males 73% versus 65%, respectively; they’re also ranking owning a home higher than several other significant life goals like getting married (41%) and having kids (31%).

What’s behind these trends? Odeta Kushi, the deputy chief economist at Santa Ana, California-based First American, cites several factors.

“The interesting finding of this analysis is that single women are increasingly embracing wealth creation through home buying and choosing to invest in homes, more so than single men,” she says.

she’s worked with have been widowed or divorced and came from previous homes they co-owned.

“Getting a rental would be some“Also, educational attainment is and qualifying for a loan. But in thing very foreign to these buyers. another indicator of the likelihood recent years, more resources have Buying a home, on the other of homeownership, and women helped women to get debt and hand, seems like a very natural have increasingly pursued higher other credit busters under control, next step,” explains Viola. “Plus, levels of education over the last and many adult children have re- many of these clients are caregivers two decades. That’s resulted in turned to their parents to save for a for children, grandchildren, or higher incomes.” down payment,” notes Baum. parents. An apartment or rental Paired with a low mortgage rate Additionally, many ladies flying home just cannot accommodate environment, increasing housesolo have been skittish about their needs, which is why stable, buying power has resulted in the stock market since the 2008 long-term housing is important higher homeownership rates for market crash. to them.” this demographic.

“By contrast, homeownership The bottom line? Purchasing a Dabney Baum, financial planner is tangible and feels much more home can be a smart move for a and owner of Baum Wealth Advi- secure. You can see and use what woman going it alone. sors in Boston, says homeowneryou’ve spent your money on,” “Buying real estate is one of the ship is now in reach for many Baum adds. best long-term investments a women.

Francine Viola, Realtor with Cold- person can make,” Kushi says, not“The great hurdle to homeowner- well Banker Evergreen Olympic ing a recent Survey of Consumer ship had been two-fold in the past: Realty in Olympia, Washington, Finances report that found the net worth of a homeowner is over 44 accumulating a down payment says most of the single women

Single women want to own homes: Here’s why

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times greater than that of a renter.

“In the long run, a home is likely to grow in market value, allowing a single woman to build equity – something you can’t do when renting.”

Sarah Kruse, an agent with Portland, Oregon-based Weichert Realtors, says one of every four first-time buyers she’s represented in 2020 are single women.

“I predict the rate of single women buying and owning homes will continue to increase, especially as work continues to become more remote,” suggests Kruse.

Kushi concurs.

“Single women homeownership in the medium-and long-term, particularly for millennials, is anticipated to rise due to increasing educational attainment, income, and a desire for homeownership,” she says.

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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

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October 9, 2020

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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.

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.

Don’t Shell Out a Lot of Cash; Use the Classifieds.

Smart shoppers know about the bargains hidden within the Classified pages. In the Classifieds, you can track down deals on everything from tickets to trailers.

It’s easy to place an ad or find the items you want, and it’s used by hundreds of area shoppers every day.

360-424-4567

RE-Weekly.com Keeping a paper trail, even when eClosings are electronic

By Marilyn Kennedy Melia CTW Features

A

lot less paper and ink are now involved home sale transactions since the virus crisis has dramatically accelerated eClosings, the industry term describing how the necessary contracts can be signed and sent from one party’s computer to another.

In some states allowing electronic notarization, home buyers/sellers can sign by simply tapping their own computer using a special platform sent to them and viewed October 9, 2020

remotely by a notary, eliminating human-facing contact.

But some states prohibit remote notarization and “some courthouse will accept electronically notarized documents and others will not,” explains Maureen Pfaff, president, Olypen Title, Port Angeles, WA. Then, hybrid eClosings, where clients must still go into an office for a “wet ink” signing are required, with documents then electronically stored.

But while paper is disappearing, record-keeping shouldn’t.

“We recommend that buyers and

sellers keep all the documents from their closing for at least seven years, or whatever their CPA or attorney recommends,” Pfaff says.

Attorney Deborah S. Bailey of Bailey Helms Legal, Roswell, GA, says records are necessary for a host of reasons, like filing income taxes, and if possibilities like post-sale title issues emerge.

“It is advisable to keep [some] paper copies of important settlement documents,” Bailey says.

“Even if [buyers and sellers] elect to receive electronic copies, they will still receive some paper

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documents such as their signed settlement statement, deed and owner’s title insurance policy.“ Moreover, buyers and sellers have the option“ to request a paper copy of any documents they are receiving electronically, so it all comes down to what makes that home buyer/seller comfortable and how they are keeping records… If they are keeping records electronically, they may also request electronic copies of their settlement documents, even if they were signed using wet ink,” Bailey concludes.

REAL ESTATE WEEKLY RE-Weekly.com

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602 aleXanDer St., SeDro-woolley

$410,000

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.

Kim Schlimmer MLS# 1671221

Carla Fischer

360-982-0010

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.

18582 CaSCaDe riDGe Ct., Mount Vernon

Elegant finish work in this 3130 square foot custom home: European hardwood floors with inlay; 3 fireplaces, one which is open to both the country kitchen and the dining room; 3 large bedrooms, two with a “Jack and Jill” bath; 2 family rooms. Plenty of parking. 36 X 36 barn with four stables; a tack room; a storage room; plus a loft.

Four separate fenced areas for horses, plus an outdoor arena.

Wonderful trails throughout the wooded portion of the acreage.

Danya Wolf MLS#1673949

360-708-8294

360-661-7670

lotS 2&3 lakeSiDe DriVe, GlenHaVen lakeS

$49,900

17180 MeMorial Hwy Mount Vernon

$425,000

BuilD your DreaM HoMe in eaGleMont!

7308 HoBSon rD., Bow

2XXX urBan aVenue, Mount Vernon

44821 kaCHeSS trail #2C27, ConCrete

$109,500

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

4969 Helena lane #2C78, ConCrete

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

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

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

$600,000

Danya Wolf

360-708-8294

22904 BuMBleBee lane, Mount Vernon $950,000

7 CAR COVERED PARKING

Special property on a very private 1.5 acres minutes from town. Custom handcrafted, Craftsman home featuring 2278 sqft, office main level master & second master upstairs. Dining & living room showcasing custom stain glass windows. Kitchen w/ granite counters, handcrafted cabinets. Beautiful oak floors. Detached MIL home 702 sq ft 1 bd & 1 bath w/2 car garage. Separate 1080 sqft. shop & Pond and Waterfall.

Total of 7 garage and shop parking spaces! Car lift included too!

Fabulous home! Danya Wolf Elva Hunter 360-708-8294 360-202-3086 MLS# 1494916

Elva Hunter

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

$1,200,000

Eighty (80) acres of 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 homesite/Pasture land along the southwesterly edge of the property.

Potential for up to 16 building sites. Shown by Danya Wolf appointment. MLS# 1568051 360-708-8294

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.

360-202-3086

H Street rD., Blaine

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

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

MLS# 1504177

$105,000

i’m aSeniorsrealestateSpecialist

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

NEW

$998,000

$79,500

$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 EStAtE officE, rEAl MoSt coMMUnitY MindEd BUSinESS

360-540-1552

360.424.0300

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 2033495

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October 9, 2020