Real Estate Weekly November 6, 2020

INSIDE

This Issue THE RIGHT TIME TO LET IT GO HERE’S WHY IT’S THE BEST TIME TO BE A SELLER PAGE 5 BABY BOOMERS WITH SUBURBAN HOMES FACE CHOICES PAGE 7 CLASSIFIEDS PAGE 7

NOV 6-12, 2020

INSIDE

TABLE OF CONTENTS

PAGE

5

Q&A

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

The right time to let it go Here’s why it’s the best time to be a seller.....P5 Baby boomers with suburban homes face choices.......................................................P7 Classifieds.......................................................P7

RE-Weekly 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

Sandi riley 770-8670

20833 MAUPIN ROAD, ‘’CONWAY/FIR ISLAND’’ M.V.

ED IST TL S U J

$485,900

608 REED STREET, SEDRO WOOLLEY

SANDI R. 360-770-8670/NORA M. 360-739-4335 OPEN HOUSE SAT. & SUN. 12-3:00 *FABULOUS VALLEY/SOUND/OLYMPICS & SUNSET VIEWS, PARK LIKE! *UPDATED 3+ BEDROOM, TOTAL OF 3 BATHS, DEN/OFFICE, 3 BONUS ROOMS *NEW REMODELED KITCHEN, MINI-SPLIT HEAT & A/C, TANKLESS H/W, OVER 2000 S.F. 17116 AVON STREET, MOUNT VERNON

$525,000

LG . SH OP

!

WS VIE

$349,500

G! TIN LIS W NE

CHRISTINA O’KEEFE 425-231-2651 OPEN HOUSE SUNDAY 1-4:00 YOUR HOME FEATURED HERE! CALL FOR A CURRENT ‘’MARKET APPRAISAL’’ SANDI RILEY 360-770-8670 442 48TH STREET, “WOODSIDE’’ MOUNT VERNON

NE W

55+

$430,500

Pr IcE

*TRADITIONAL CRAFTSMAN STYLING W/LG. COVERED FRONT PORCH! *UPDATED/RESTORED W/ ORIGINAL CHARM & APPEAL, 3 BEDROOMS, 1.5 BATHS *SOME ORIGINAL WOOD FLOORS, GREENHOUSE, COVERED BACK PATIO, FENCED YD. + SHOP!

*GORGEOUS LOG HOME & BIG SHOP, MAKE ALL YOUR DREAMS COME TRUE! *3 BEDROOMS, 2+ BATHS, FULL BASEMENT, HUGE GARAGE *GREAT 24 X36 SHOP + COVERED R.V. PARKING, VALLEY/SUNSET VIEWS!!

*UPGRADED CRAFTSMAN ‘’WOODSIDE’’ HOME W/GRANITE KITCHEN, GAS HAT, A/C *2 BEDROOMS, 2 BATHS, DOUBLE GARAGE, FENCED YARD, COV. PATIO *GREAT NEW PRICE, CLOSE TO ALL SERVICES!

*GREAT NEW PRICE, OVER 1600 SQ. FT., ‘’GOLDENWEST’’ QUALITY *3 BEDROOMS 2 BATHS W/SPLIT BEDROOM PLAN FOR PRIVACY! *NEWER WOOD FLOORS, FIREPLACE W/GAS INSERT, MUCH MORE!

2610 E. SECTION ST. ‘’LITTLE MTN. ESTATES’’ MT. VENRON

6932 STEELHEAD LANE, BURLINGTON

ING

PEND

CALL SANDI RILEY 360-770-8670 *UPGRADED/UPDATED ‘’FLEETWOOD ‘’ BEAUTY *3 BEDROOMS, 2 BATHS, OPEN FAMILY ROOM W/GAS STOVE *HUGE GORGEOUS NEW KITCHEN, NEWER FLOOR COVERINGS

$363,900

SOLD

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

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

Katey Von Hagel Marketing Representative 360.707.1076

$448,900

SOLD

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

*3 BEDROOMS, 2 BATHS, NICE FAMILY ROOM W/SUN ROOM ADJOINING *UPGRADED RAMBLER W/BRICK FIREPLACE, NEWER VINYL WINDOWS *R.V. COVERED PARKING, DOUBLE GARAGE, RIVER FRONTAGE!!

*DESIRABLE CONWAY SCHOOL DISTRICT, EASY I-5 ACCESS, DEAD END ROAD *CUSTOM RAMBLER W/3 BEDROOMS, 2 BATHS, FAMILY ROOM *DOUBLE GARAGE, R.V. COVERED PARKING, 1.27 PARK LIKE ACRES!!

LAND TITLE AND ESCROW W

2037346

2

Cathy West Oak Harbor Escrow Manager/LPO 360.679.5055

UN IT # 54

55+

CALL SANDI RILEY 360-770-8670 OPEN HOUSE SUNDAY 12-3

$169,900

Unless otherwise noted, all photographs, artwork and ad designs printed are the sole property of Skagit Publishing and may not be duplicated or reprinted without express written permission.

Skagit Publishing is not responsible for typographical or production errors or the accuracy of information provided by advertisers.

2610 E. SECTION ST. ‘’LITTLE MTN. ESTATES’’ MT. VERNON $158,900

CALL SANDI RILEY 360-770-8670

CALL SANDI RILEY 360-770-8670

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.

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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

November 6, 2020

STAT Real Estate Stat

>1% The percentage of buyers who bought their homes from print newspaper advertisements Source: National Association of Realtors, 2019

FEATURED HOME, FROM COVER 8155 ROBINSON ROAD, SEDRO-WOOLLEY

NORTH PUGET SOUND ASSOCIATION of REALTORS®

$675,000

525 East College Way, Suite J, Mount Vernon, WA 98273 (360) 416-4902

www.npsar.realtor

Selling a Home? Consider Staging!

WinDERMERE REAl EsTATE/skAgiT VAllEy 360-424-4901 • www.windermereskagit.com

LINDA EASTMAN 360-202-4075 Beautiful custom-built home with a main floor master suite, open floor plan on a one acre fully landscaped lot. Beautiful stone fireplace & bar with chiseled granite countertop.

Hardwood flooring, formal dining, great room with view windows.

Open balcony, 2 additional bedrooms w/walk in closets, & a full bath on the upper floor.

Bonus room over the garage with great views. 2 car gar & attached 10’x16’ shop w/gar door.

Wrap around deck, covered patio, adorable garden shed, private back yard. MLS #1677174

Most home sellers know the importance of keeping their house clean and clutter free while it is on the market, but sometimes, taking a few extra steps can make all the difference. That is where staging comes in. According to a report from the National Association of REALTORS®, 62 percent of seller’s agents say that staging a home will decrease the amount of time it spends on the market. Buyers also need to be able to picture themselves living in a house, and 77 percent of buyer’s agents say that staging makes it easier for buyers to visualize a house as their future home.

Rent a small storage unit for:  Personal items - family photos, collectibles, etc.  That recliner, and/or any well-used furniture items.  Excess toys, sporting goods, off-season clothing.  Excess small appliances and ‘counter-clutter’ items. https://www.nar.realtor/newsroom/real-estate-story-ideas/selling-a-home-consider-staging 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.

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November 6, 2020

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Rate Strategizing Question:

Rates today are very low, but our lender says we can reduce the interest level even more by buying “down the rate” at closing. Is this a good strategy?

Answer:

You can indeed get a lower rate by paying points at closing. Whether this is a good idea or not depends on several factors.

Let’s start with this. A “point” is equal to 1% of the mortgage amount. One point for a $225,000 mortgage is equal to $2,250. You can either pay this money in cash at closing or have it added to the loan amount.

Suppose you have a $225,000 fixed-rate loan. The lender might say that if you pay $2,250 upfront – 1 point -- the mortgage rate can be reduced by 1/8th (.125%) to 1/4th (.250%) of a percent – it’s a negotiable matter. Here’s what happens with a .25% rate reduction.

A $225,000 mortgage at 3% over 30 years has a

monthly cost of $948.61.

A $225,000 mortgage at 2.75% over 30 years – a loan with a 1/4th percent reduction in exchange for the payment of 1 point at closing -- has a monthly cost of $918.54.

In this example, the borrower will save $30.07 per month in exchange for $2,250 paid upfront. It will take 75 months ($2,250 divided by $30.07 – more than six years) to break even. Over 30 years, the loan’s total interest cost will decline from $116,500 to $105,674.

That’s a potential savings of $10,826 over the 30-year loan term.

But the reality is likely to be very different. Very few borrowers keep the same financing for 30 years. It seldom happens.

“As of 2018,” explains the National Association of Realtors (NAR), “the median duration of homeownership in the U.S. is 13 years. Compared to previous years, homeowners opt to spend more time holding onto their residences. Median tenure has increased by three years since 2008.”

Q&A

ASK OUR BROKER

By Peter G. Miller

Although homes might typically be owned for 13 years, the same is unlikely to be true with mortgages.

Freddie Mac reports that in the first quarter of 2020, a refinanced loan’s typical age was 2.4 years. That’s nowhere near enough time to break even on the payment of additional points.

Rather than paying a point up front, why not just borrow less? Now we have a $222,750 mortgage ($225,000 less $2,250) at 3%. The monthly payment is $939.12 – a savings of $9.49 a month or $113.88 annually. And, of course, less will be owed to the lender when it comes time to repay the debt – even if the debt is quickly refinanced or paid off.

For more details and information regarding pointsvs-rates, speak with mortgage loan officers, run the numbers, and consider how long you expect to keep your home and any new financing.

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

own the local real estate market expand your reach when you combine the power of our digital audience and premium print ads in the re weekly ask your multimedia account executive for details.

ContaCt: 360.424.3251 • ads@skagitads.Com 4

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November 6, 2020

moment to cash in and upgrade their living situation,” Ryshakov says.

Rajeh Saadeh, a Somerville, New Jersey-based real estate attorney, professor, and investor, believes the winning streak for sellers will continue for as long as the stock market bubble doesn’t burst.

“Government stimulus and other policies are artificially keeping the stock market afloat. But when that changes, the economy will significantly slow down and start a chain of events that will make it a buyer’s market,” predicts Saadeh.

Ryshakov agrees.

“Once the stimulus, supplemental unemployment benefits, and mortgage forbearance programs begin to subside, we are likely to see a broader economic downturn,” notes Ryshakov. “The impact on the real estate market and housing price declines across geographies would give the advantage back to buyers, assuming we don’t see more losses of jobs with home purchasing capacity.”

Meantime, Maria Quattrone, a RE/MAX @ HOME Realtor in Philadelphia, recommends that prospective buyers be prepared to act fast to land the best bargains right now.

“Buyers with good credit, enough money for a significant across the country pocketed

By Erik J. Martin single driving factor of this steep more of them find themselves This is also one of the uninan average gain of $75,971 on CTW Features seller’s market is low inventory. competing for the same propdown payment, and some tended consequences of the erty. And that is pushing up a standard sale in the second “Despite the pandemic, there pandemic, he adds. patience could land nice deals, epending on where you quarter of this year. That’s more are many more buyers than sell- home prices.”

“With many people forced to especially if they can beat out live, you may have no- than $10,700 higher than what ers right now. And with mortBrandon Brown, broker/owner work or quarantine at home, competitors. That means getticed two trends lately: sellers earned a year earlier. And gage interest rates so low, buyers of BayBrook Realty in Laguna they realized they want to live ting everything ready to go–get More “for sale” signs have been it marks a 36.3% return on are incentivized to purchase as Beach, California, seconds those somewhere bigger or better,” preapproved for a mortgage popping up in your neighborsoon as they can,” she says. sentiments. investment versus the home’s Brown posits. loan, know what your nonhood than normal, but they’re Viola notes that the health of “While the coronavirus made original purchase price—3.4 Consider that many owners negotiables are, and be ready to getting removed relatively the real estate market can be for up to a two-month pause in who could be selling are actually percentage points higher yearmake an offer quickly,” suggests quickly. measured by looking at the the market, that only increased postponing putting their homes over-year.

Quattrone.

That’s probably because we demand for homes. Plus, All of which points to an indis- number of months it would on the market due to COSellers, on the other hand, remain firmly in the midst of a putable fact: It’s a golden age typically take to sell all of interest rates being at historic VID-19 concerns, says Polina robust seller’s market, in which for sellers, who are reaping the the homes listed. Four to six lows means buying power has Ryshakov, real estate economist shouldn’t forget that they remain in the driver’s seat. buyers have less leverage and rewards of an increasingly active months represents a healthy, never been as high,” explains and director of valuation for commonly compete with rivals real estate market and pent-up balanced market.

Brown. “With money so cheap, Sundae, a San Francisco-head- “However, you’ll still need to on home bids while sellers enjoy demand for housing.

“But in our market today, we’re buyers are seeing the value quartered residential real estate price your home approprigreater profits and fewer days on Francine Viola, a Realtor with currently at the lowest readmarketplace that helps sellers of ately or it will get overlooked,” in purchasing properties and Brown advises. “I would keep the market than usual. ing on record—about half a Coldwell Banker Evergreen ridding themselves of the rental distressed properties.

Based on the latest research by Olympic Realty, Inc., in month,” she adds. “With very “But households that are listing prices in line with comparable payments that continue to ATTOM Data Solutions, sellers Olympia, Washington, says the few options available to buyers, increase.” sales in your neighborhood.” now view today as the perfect

The right time to let it go

Here’s why it’s the best time to be a seller

D

November 6, 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.

Call 360.416.2180 Today!

6

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

November 6, 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.

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.

Baby boomers with suburban homes face choices

By Marilyn Kennedy Melia CTW Features

S

uburban living is in style again, thanks to a pandemic-related preference for lower density living.

And that’s significant for Baby Boomers, who raised their family in these newly desirable homes with a yard – but not too large, and are located at a distance – but not too far—from the city.

Using 2020 data, Edward Pinto of the American Enterprise Institute finds that segments within metro area zip codes that are not as heavily populated as some and contain more people per square mile than other slices are seeing more home purchase activity.

November 6, 2020

The shift is pushing up prices in Pinto’s own Washington D.C. suburban neighborhood, where prices have mainly stayed “unchanged” for a decade, “but it didn’t bother me because I didn’t have to sell.”

That begs the question for Baby Boomers who have been thinking of selling: If prices are up, is now the time?

Well, it depends, Pinto answers.

Not all suburbs are seeing significant price rebounds, for one thing. And even for owners who can cash in, it may not be easy to find what they want with an affordable price tag.

If it’s a home near a lake, ocean, or mountain that has tempting retiring Boomers, tailwinds whipped up by COVID-19 are also inflating prices in some vacation

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areas, Pinto notes.

Those who’ve been mulling more urban living and buying a condo in the city may also have soured on sharing tight spaces with others.

However, some in that giant generation born between 1946 and 1964 will find now is the right time to move near an adult child or downsize from the fourbedroom two-car garage with a yard that now seems harder to move to a smaller home nearby.

And those enamored of urban pleasures like nearby restaurants may see those amenities come to them in years ahead, as popular middle-density suburbs build more offerings, Pinto predicts.

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$998,000 602 ALEXANDER ST., SEDRO-WOOLLEY

18582 cAScADE RIDGE cT.,MOUNT vERNON 5+ aCREs

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 three stables; a tack room; a storage room; plus a loft. Three separate fenced areas for horses, plus an outdoor arena. Wonderful trails throughout the wooded portion of the acreage. MLS# 1673949 Danya Wolf

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

360-708-8294

505 JAMESON STREET, SEDRO-WOOLLEY

$325,000 657 HUMPHREY PLAcE, BURLINGTON

$529,900 Beautiful views from this 5 bedroom, 3 bath Hansell Mitzel Home built with many upgrades, built on the “perfect” cul de sac, fenced yard; with a country feel yet wonderful location for commuting to Bellingham, Anacortes, or Everett/Lynnwood/Marysville.

Lighted stone pillars at end of driveway welcome you home. Covered front porch offers seclusion for one’s morning cup of coffee or tea; hardwood entry; wainscoting; air conditioning; under cabinet lighting, pantry; and granite countertops in baths.

Backyard offers custom decking and incredible sunset views.

Danya Wolf MLS# 1679704 360-708-8294

PEnDIng

Updated home in the heart of Sedro-Woolley, close to shopping, schools, and parks. This charming 4 bedroom, 1 1/2 bath home has hardwood floors, vinyl windows, and a freestanding natural gas stove. Finished basement has utility room and a great family/rec room. Covered patio and large backyard are great for entertaining. There is garden space and even room for chickens! Large 528 sq ft shop with gas heat, 220 panel, and large loft with tons of storage space. Come check it out!

Danya Wolf MLS#1682583 360-708-8294

1324 EAGLE RIDGE DRIvE, MOUNT vERNON

$489,000

LOTS 2&3 LAkESIDE DRIvE, GLENHAvEN LAkES

$49,900

EaglEmont

22904 BUMBLEBEE LANE, MOUNT vERNON 7 CaR CoVERED PaRKIng

PEnDIng

Beautiful 1 story Condo with 2 bedroom & den or 3rd bedroom 2.5 baths, owners suite w/jetted tub, walk-in shower & closet access to patio. Gorgeous open great room w/high ceilings Craftsman style millwork, kitchen w/granite and stainless steel appliances & dining w/sliding door to private patio for entertaining or enjoy nature. Truly a home with all the comforts, Extra lg garage with built-in’s & spacious driveway. In beautiful Elva Hunter Eaglemont Community!

360-202-3086

At Cascade River Community Club, you will enjoy this little slice of heaven to relax after a long week in the city or a long hike up the glacier.. Set the stage for your RV, tent or yurt and long evenings of listening to the play of the campfire and the river running over stones. Pull into this property and get yourself nestled into nature, as you make this your own little home base camp, be sure to pause by the Little Library to grab a good read!

$399,999

PEnDIng

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! MLS# 1494916 Danya Wolf Elva Hunter

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

MLS#1680814

#D1L1

$4,000

MLS#1680823

#D1L2

$5,000

MLS#1680818

#D1L68 PEnDIng

$7,000

MLS#1680794

#D3L17 PEnDIng

$10,000

MLS#1680778

#D1L18 PEnDIng

360-708-8294

BUILD YOUR DREAM HOME IN EAGLEMONT!

360-202-3086

We love our community!

$10,000

MLS#1680805

#D1L147

$11,500

MLS#1680789

#D3L209/210

$22,000

MLS#1683583

#D1L149

$6,000

Sherry Ruderman

360-540-1552

360.424.0300

$950,000

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

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 2033497

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