Real Estate Weekly October 16, 2020

INSIDE

This Issue HOW MUCH RISK ARE YOU WILLING TO TAKE TO BUY A HOME DURING THE PANDEMIC? PAGE 5 TO LIVE HAPPILY IN YOUR DREAM LOCALE, START DIGGING PAGE 7 CLASSIFIEDS PAGE 7

OCT. 16-22, 2020

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TABLE OF CONTENTS Q&A

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

How much risk are you willing to take to buy a home during the pandemic?..............P5

INSIDE

To Live Happily In Your Dream Locale, Start Digging...................................................P7

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

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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

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STAT Real Estate Stat

119.7 million The approximate number of occupied housing units in the United States Source: National Association of Realtors

NORTH PUGET SOUND ASSOCIATION of REALTORS®

Feature Home From cover:

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

3813 Rock Ridge PaRkway, anacoRtes

Tel. 360-416-4902

www.npsar.realtor

$729,000

Hablar Alto - Detén la Discriminación Que es discriminación de vivienda? La ley de discriminación del estado de Washingtonprotege a personas contra acciones negativas que ocurren por la clase protegida de la persona. En La Compra Y Venta de Vivienda: Nadie puedo tomar las siguientes acciones basado a clase protegida: 

Negar participación en una transacción



Negar negociaciones de Vivienda



Establecer diferentes términos y condiciones o privilegios para comprar o alquiler de vivienda



Proporcionar diferentes servicios o instilaciones de vivienda



Negar que la vivienda está disponible para inspección, venta o alquiler ·Hacer que una vivienda no esté disponible



Windermere real estate/anacortes Properties P 3018 commercial ave.

Anacortes,WA • 360-293-8008 www.anacortesrealestate.com

Persuadir a los dueños de vender o alquilar el espacio por beneficio propio Anunciar o declarar algo que indique limitaciones o preferencias basado en clase protegida

Ver más en: https://www.hum.wa.gov/fair-housing Mission Statement: The Nor th Puget Sound Association of Realtor s advocates for Realtor s and their clients, and promotes the protection of property rights.

robin KallMan 707-318-7190

Traci Mile 360-941-6321

This meticulously kept Strandberg built home in the sought after Rock Ridge neighborhood will captivate you as soon as you enter through the front door. Easy flowing floor plan with spacious master on the main level.

Fine details throughout the home with built-ins, wainscoting and much more. Light and bright and convenient outdoor access to a private patio with garden and wrap-around yard. Huge 3 car garage can function as a shop or place to stow your vehicles or kayaks.

Large corner lot is only steps away to the trail-head which takes you to Cranberry Lake and hiking through the magical forest.

MLS# 1669160

2033933

October 16, 2020

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3

Want to find the best rate?

Question:

Mortgage rates have fallen a lot since we bought our home in 2017. We thought it would make sense to refinance with our bank since we already have a loan with them. They immediately offered to reduce our rate from 4.25% to 3.75%. We said that was ridiculous in a market with 2.75% financing. They then offered us 2.75% but in each case, only if we would also pay more than $5,000 in bank fees. We have terrific credit, virtually no debt, substantial reserves, and far more than 20% equity.

We’ve shopped around. We’re going elsewhere. Are we doing the right thing?

Answer:

Lenders have no shortage of borrowers looking to finance and refinance. In early June, the Mortgage Bankers Association reported that its Refinance Index was 111% higher than the same week one year ago, while the Purchase Index increased 33% during the same period.

You were smart to shop around. By checking rates, you can compare offers.

Now, however, the mortgage pricing game has changed.

Selecting a lender based on the lowest apparent rate can be a mistake.

Let’s start with some basics.

Lenders need to make a profit, but with historically-low interest rates, that’s been a problem. Add in a pandemic, and the problem is worse. You can see this by looking at the net income generated by institutions insured by the Federal Deposit Insurance Corporation (FDIC). § $55.2 billion in the fourth quarter of 2019. § $18.5 billion in the first quarter of 2020. § $18.8 billion in the second quarter of 2020.

What do lenders do in a low-rate environment? They seek new sources of income.

For instance, consider a refinancing offer where a low-interest rate was the bait, but the lender would receive thousands of dollars in fees in the fine print.

The way the offer was structured raised several questions.

If you apply for a loan and elect to go elsewhere, will you still owe some or all of the fee just for applying? How much? What if your loan application is simply declined? What will you owe to

Q&A

ASK OUR BROKER

By Peter G. Miller

the lender in that case, if anything? Why are loan fees excluded from the APR calculation (the annual percentage rate)? What is included in a “bank fee” and what isn’t? What is the total cost of the loan? Without a detailed list of transaction costs, how can a borrower know what a “bank fee” actually includes?

For borrowers, the new world of super-low rates and strange fees means that some of the old mortgage hunting standards no longer apply. Sure, interest rates are important but so are the fees, charges and conditions associated with the loan application.

As you search for the best mortgage, look for interest rates that reflect reality. Ask yourself, what’s a competitive rate given your finances and credit? What do you owe the lender if you apply for financing, but for any reason, don’t get the loan? Can you see an official Loan Estimate (LE) before signing any paperwork?

Don’t settle for offers with big fees buried in small print. There are plenty of competitive lenders out there. Just be sure to ask questions, get answers in writing, and shop around.

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

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

EASY TO USE TOOLS & THE MOST UP-TO-DATE INFORMATION FOR FINDING LOCAL REAL ESTATE 4

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How much risk are you willing to take to buy a home during the pandemic?

by Erik J. Martin CTW Features

COVID-19 exposure to acquire their preferred home; one in three would be willing to purchase without first viewing the oday, home buyers are faced with a doublehome in person, and approxiedged quandary: Tour mately 53% were continuing a home for sale in person and their house hunting during the increase your chances of acquir- coronavirus crisis. ing the coronavirus, or shop Meanwhile, 36% of respondents completely virtually and run to a Zillow survey reveal they the risk of buyer’s regret because are more inclined to purchase a you couldn’t see the house up property entirely online during close. Either choice involves COVID-19, with 30% indicatcompromises and significant ing that they would do likewise potential consequences. after the pandemic subsides.

So to what extent will people And three out of four polled by take either risk these days? New Zillow said they would desire the option of touring a home research paints a fascinating remotely using video or virtual picture.

According to results of a recent technology if they were currently shopping for a home. survey by Helitech, more than 37% of shoppers would hazard Kris Lindahl, the owner of Kris

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Explore your options virtually Lindahl Real Estate in Minneapolis, is surprised that nearly two in five people would risk coronavirus contact to find their ideal home.

“There are so many tools that can be used now to avoid or limit exposure. People looking to buy a home shouldn’t feel like they have to risk their health to do so,” says Lindahl. “With 3-D tours, recorded or live online tours, and platforms like Zoom and FaceTime, the home buying experience has gone virtual.

And we’re finding a growing number of clients who love the convenience of being able to do

everything online, down to the paperwork.”

Adrienne Allen, a Las Vegasbased broker with the techbased real estate company Homie, says it’s amazing what prospective purchasers are willing to do to claim the desired home nowadays.

“Buyers continue to buy homes despite the pandemic, and even more people are putting offers on properties they haven’t seen.

A few years ago, that was a real rarity,” Allen notes.

Indeed, home sales remain hot, and available inventory continues to be limited due to high

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demand from buyers – despite coronavirus restrictions in many markets that prevent shoppers from walking through homes and meeting with agents in person as they did in the past.

One of the big reasons is mortgage interest rates that continue to hover near historic lows.

“Lower interest rates mean that a homebuyer can afford a higher-priced property for the same monthly mortgage payment. Hence, many buyers have an incentive to act quickly and try to claim or outbid others on a property, before rates rise and opportunities get snatched,” explains Lauren Anastasio, a Certified Financial Planner with SoFi, a San Francisco-headquar-

tered personal finance company.

Buyer interest has also been stoked by the fact that many employers have embraced long-term or permanent remote work arrangements, motivating people to consider moving to more desirable locations.

“Many city dwellers lately have decided to flock to the suburbs or moved to more suburban areas where homeownership is more affordable than it had been living in high cost-ofliving cities,” Anastasio adds.

While it’s certainly possible to find the right property for sale without risking your health, prepare to rely more on technology and trust your gut.

“You’ll have to be willing to purchase the home without doing a physical tour, relying heavily on virtual tours and property photos as well as information provided by the listing agent,” says Allen. “Otherwise, you’ll have to take on a little risk by wearing masks, booties, maintaining social distancing, and limiting what you touch inside a home during a physical tour – if allowed.”

Lindahl recommends trying to get through as much of the process as you can online before you decide to tour a home in person or not.

“Make sure you’re working with an agent who can help you with this process. Ask the agent how comfortable they are with online tools and how much of the work can be done virtually,” suggests Lindahl.

“Don’t be afraid to ask the agent what safety procedures they are taking.”

Remember: Your health should be your number one priority.

“Those who are at higher risk and are nervous about shopping virtually may want to wait to buy a home until after the pandemic,” says Allen.

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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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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.

To Live Happily In Your Dream Locale, Start Digging By: Marilyn Kennedy Melia CTW Feature

searching for homes in locations they didn’t consider pre-Covid19.

John Pinto, a Realty World broker in Californew term has entered the real nia’s Bay Area, relates estate lexicon, how an untethered seller “untethered,” referring he recently served wanted to remote workers with to move to the Portland the freedom to move vicinity, after enjoying a distance from their business trips to the area. employer. Their ranks Even with that familiarare growing, with a recent ity, though, when the Redfin survey finding seller’s own Santa Clara 13 percent of buyers are home sold quickly, he

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was faced with finding just the right Portland community for him and decided to rent first.

Indeed, amenities like how close a good doctor’s office or restaurants you enjoy will be, or whether the character of a community fits your own identity, are all factors looming large for the untethered buyer.

“Physically spending time in the location will

give you clarity unlike anything else,” notes Rostislav Shetman, founder of 9Kilo Moving.

Researching online and talking with locals, “real estate agents will do if you don’t know anyone else,” adds Shetman, before physically visiting, may shorten the on-theground learning curve.

With out-of-towners moving to Florida long before the untethered

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trend, Jeff Lichtenstein, owner of Echo Fine Properties in Palm Beach County, says the firm’s website gives “all sorts of hyper-local information,” like tabs on “lifestyle” at various communities.

The site also provides stats on local sales over the past two years, with data like the average time on the market before selling and how close closing prices are in relation to

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.

listing prices.

With the significant investment in a home, buyers should be educated on home price trends in a new market, agrees Pinto.

For example, he relates, those leaving pricey areas like Palo Alto where “anything sells because of the cachet” should be educated on re-sale values in less sought-after locales.

10 - January 29, 2019

7

602 aleXanDer St., SeDro-woolley

$399,999

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 360-661-7670

lotS 2&3 lakeSiDe DriVe, GlenHaVen lakeS

$49,900

17180 MeMorial Hwy Mount Vernon

$425,000

4720 SkaGit trail #1D15, ConCrete, wa 98237

$29,500

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

Empty lots are hard to find here. Come check out this property tucked away in the Meadow of Lake Tyee with the sound of Grandy Creek behind it. This is a bigger and private lot with water, septic, power and a cement slab to park your RV. Clubhouse, mini golf, tennis/pickle-ball, fishing, hot tubs and more amenities just across the road. Sherry Ruderman

360-540-1552

210 days/yr & $162/mo. dues. MLS# 1675949

BuilD your DreaM HoMe in eaGleMont!

i’m aSeniorsrealestateSpecialist

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 Sherry Ruderman view your new 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

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.

Buying or Selling upriver?

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

$950,900

Carla Fischer

360-982-0010

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!

Danya Wolf Elva Hunter Car lift included too! Fabulous home!

360-708-8294 360-202-3086 MLS# 1494916

Elva Hunter

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

360-708-8294

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 2033496

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