Real Estate Weekly January 22, 2021

INSIDE

This Issue DIY HOME SELLING PAGE 5 RENTERS NOW PAY BY CREDIT CARD PAGE 7 CLASSIFIEDS PAGE 7

JAN 22 - 28, 2021

TABLE OF CONTENTS

INSIDE

DIY home selling ............................................................P5

PAGE

5

Q&A

Ask Our Broker.......................................................................P6

Renters Now Pay By Credit Card...........................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

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 2

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.

NORTH PUGET SOUND ASSOCIATION of REALTORS® 525 East College Way, Ste. J

Mount Vernon, WA 98273

360) 416-4902

www.npsar.realtor

Devastatingly effective wire fraud scams are becoming more and more common in real estate transactions. Sophisticated hackers are monitoring client and/or broker email accounts and waiting for a window to steal monies from clients.

The scammers convincingly impersonate the broker or escrow agent, and then send messages urging the clients to wire funds to fake accounts set up by the scammers. The clients are left with no recourse to recover the stolen funds.

Shelley Nevitt Anacortes Escrow Manager/LPO 360.299.0565

Are you prepared to protect yourself?

Service you deserve with people you trust Visit any of our 5 locations in Oak Harbor, Burlington, Freeland, Stanwood and Anacortes

Ltco.com

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.

Washington REALTORS® in cooperation with the NWMLS, the Department of Licensing, Department of Financial Institutions and the Office of the Insurance Commissioner have created several resources to educate our members and consumers about this widespread but preventable fraud.

 

Obtain the phone number of your real estate broker and your escrow agent at your first meeting.

Call the known phone number to speak directly with your broker or escrow officer to confirm wire instructions PRIOR to wiring.

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.

2025889

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January 22, 2021

STAT Real Estate Stat

36

The average number of hours most realtors worked per week in 2019.

Source: National Association of Realtors

SKAGIT TRADITION REALTY LLC $375,000 Skagit Tradition Realty LLC 3780 E. College Way Mount Vernon, WA 360-424-0300 www.skagittraditionrealty.com

Danya Wolf

360-708-8294

Bring this one level 1408 sq. foot, 3 bed/2 bath home situated in a quiet, private setting back to its original glory. Home offers cathedral ceilings in the living, dining and kitchen. A double garage, deck and a myriad of fruit trees (apple, pear, cherry, Asian pear, plum and peach).

There is a fish pond and even space for chickens to enhance your enjoyment.

January 22, 2021

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2040740

1237 Liberty Lane, burLington

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!

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

January 22, 2021

DIY home selling

By Erik J. Martin CTW Features hey say the grass is always greener on the other side.

And many prospective home sellers believe there’s more green to be had on the selling side that doesn’t involve a real estate agent.

Which begs the question: Does it pay to take the for-sale-by-owner (FSBO) route?

Consider that, according to Redfin, the average real estate commission equates to as high as 6 percent of the home’s sale price; the seller’s agent gets half of this commission while the buyer’s agent receives the other half. And in

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almost all circumstances, the home seller foots the entire commission bill.

Say your home sells for $300,000. That can mean forking over $18,000 to the agents involved.

Sell your home yourself without any Realtor representation and you’ll pocket all of that cash.

But you may not profit as much from the home sale; research from the National Association of Realtors (NAR) reveals that FSBO properties sold at a median of $200,000 in 2018 – way below the median of $280,000 on agent-assisted homes. And this option isn’t as popular as many would believe:

The pros and cons of selling a home without an agent FSBOs represented merely 8 percent of all home sales in 2019, per the NAR. On the plus side, most FSBO homes (58 percent) sold in less than two weeks, which is more quickly than normal.

“In addition to saving money on commissions, with an FSBO sale you have more control. You control the showing schedule, the marketing, and all the other elements that go into selling a home,” notes Jen Petreccia, an agent with RE/ MAX Advantage Group in

Warwick, Rhode Island.

“Also, sellers often believe they know what the best price is for their home and want to ensure they get exactly what they want, so they like the fact that they can negotiate directly with a buyer or a buyer’s agent.”

Another advantage to cutting out the seller agent middleman is “you have one less party to the transaction. This may seem like an attractive option if you’ve had a bad agent experience in the past,” says Dylan Lennon, a Realtor with Keller Williams

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Professionals in Asheville, North Carolina.

Consider, as well, that the money you save on commissions can be used to lower the sales price of your home – making it a more attractive offering to a potential buyer and possibly leading to a quicker sale.

But FSBOs have their drawbacks. For one, you may overvalue or undervalue your home and set the wrong price for it, resulting in either leaving money on the table or being forced to lower your sales price because your home has sat on the market for too long.

“It’s also a lot more work than people may realize,” cautions Tali Raphaely, president of Baltimoreheadquartered Armour Title Company. “Agents typically answer many email and telephone inquiries before making an actual sale. They have to schedule showings and show up to meet potential buyers and their agents.

An FSBO seller has to perform these often timeconsuming tasks on their own. And if the seller isn’t diligent in responding to inquiries and showing the house, it can result in extra days on the market, which makes the house less desirable.”

Those aren’t the only disadvantages, says Dustin Singer, a real estate investor/home flipper in Pittsburgh.

“Homeowners generally don’t have access to buyers, a referral network, or business relationships developed with necessary vendors and other agents to help facilitate the home selling process,” Singer

says.

That can particularly be true if you choose to work only with non-represented buyers who don’t have an agent. These prospects are few and far between and may not know your home exists without the help of a buyer’s agent. Of course, if you opt to sell to an agent-assisted buyer, you’ll have to pay their share of a real estate commission (usually 2.5 to 3 percent of your home’s sales price).

If you’re still determined to sell your home solo, prepare to conduct market research by gathering sales of comparable properties in your area.

“Next, your home should be thoroughly cleaned and staged for showings, and an actionable marketing plan should be executed to promote your home to potential homebuyers,” suggests Singer.

Kimberly Ann Zeidner, a Realtor in Orlando, recommends making sure you have plenty of flexibility in your schedule to accommodate showings, answer questions, and market your home.

“You should also familiarize yourself with the purchase agreement and know all the ins and outs, including the various disclosures that are applicable. You’ll want to brush up on your negotiating skills and communicate closely with everyone involved, as well, including the other party, the lender, the title company, and your lawyer,” she says.

That last tip is especially important: FSBO sellers should enlist the aid of an experienced real estate attorney, the experts agree.

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Escrow conundrum Question:

We currently have a mortgage with the Smith Company and are refinancing with the Jones Company.

Smith has told us that if we refinance with them, they will apply the $6,000 now in our escrow account to a new loan. The Smith loan is more expensive than the Jones loan, so we will go with Jones. What happens to the escrow money now with Smith? We would love to have the cash now in escrow for closing when we refinance.

Answer:

When you finance or refinance a property with less than 20% upfront lenders will want to establish an “escrow” account. This is a trust account where money is collected each month to assure the payment of such things as property taxes and property insurance. It’s actually a good idea because it allows borrowers to budget and have enough money to pay such costs.

In your situation, the current loan with Lender Smith

has a $6,000 escrow balance. If you refinance with Smith, and if you agree, the money in your escrow fund can be transferred to the new loan. This will save you cash at closing.

However, you are refinancing with Jones. You have no money in the Jones escrow account. This won’t work for Lender Jones. There are two options. You can bring more cash to closing to establish a properly-funded escrow account or you can borrow more with the new loan and apply the additional money to escrow.

Both options have problems. Bringing cash to closing may not be practical if you have limited savings or a better use for the money. Getting a larger loan means more debt and a higher monthly payment, results you may not want.

But what about the $6,000 being held by your current lender, Smith? According to the Consumer Financial Protection Bureau (CFPB), the money can be transferred to a new loan if you stick with the same lender. When you change lenders a different rule applies. “Within 20 days (excluding legal public

Q&A

ASK OUR BROKER

By Peter G. Miller

holidays, Saturdays, and Sundays) of a borrower’s payment of a mortgage loan in full,” says the CFPB, “a servicer shall return to the borrower any amounts remaining in an escrow account that is within the servicer’s control.”

Realistically, 20 business days plus holidays, Saturdays, and Sundays means it can be a month or so before your $6,000 is returned from Smith.

If you do not get your funds within a month call the settlement agent who closed the Jones loan and ask for their help.

What will you do with the $6,000? One choice is to bulk-up savings. Another is to pay down existing debts.

Or – maybe -- prepay the new loan by $6,000. This will reduce your loan balance, cut your interest cost, and reduce the loan term. It will also make the money fairly illiquid, not easy to get at.

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 6

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January 22, 2021

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CLASSIFIEDS PUBLISHER'S NOTICE

Renters Now Pay By Credit Card

By Marilyn Kennedy Melia CTW Features

option served as an emergency lifeline to many, renters shouldn’t rely on it when their he COVID eco- paychecks rebound, says nomic fall-out Atlanta financial planner left millions of Vladimir Nikitenko. renters financially strug- Even when there’s a gling. significant economic deIn response, more land- cline, Nikitenko recomlords are taking credit mends negotiating with card payments, and a a landlord to skip or resignificant number of duce payment, with the tenants have met their shortfall to be made-up rent for at least one or later. Some local renter two months by putting assistance programs may it on plastic. also help, he adds.

While the credit card The overwhelming

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majority of rental payments were paper-based – check, cash, or money order – the Federal Reserve of Boston found in a 2016 study.

Now, the National Multi-Family Housing Council, a trade group with large-scale apartment firm members, reports that many apartment operators who’ve resisted credit cards because of the card processing fees are now accepting them, with some absorbing the

fees of 2-3.5%, instead of passing them on to financially-squeezed tenants.

Additionally, more third-party payment platforms, which are often used by smaller landlords, have established a credit card option or seen an increase in usage to a previous offering.

By April 2020, credit card rental payments were already 13 percent greater than the previous year, according to data from property manage-

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ment platform Entrata and The Wall Street Journal.

Also, the American Apartment Owners Association, {AAOA}, which represents many small landlords, recently partnered with PayRent, a platform that allows tenants to use a credit card one month and an ACH or debit transfer the next.

“It’s a long-overdue modernization for the industry,” says Brian Davis, c0-founder of Spark

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, asking $159,500. To view call 520-221-1607 or 360-840-3292.

Rental, a payment platform. “Landlords have every reason to prefer electronic payments over check or cash.” Some platforms, like Spark Rental, report payment history to credit bureaus.

“Paying rent by debit or ACH is great and convenient if there are no extra charges,” concludes Nikitenko.

10 - January 29, 2019

7

1422 Country Club Drive, Camano islanD

$2,200/mo

Well maintained 2 bed plus den home with fully finished lower level, master with jetted tub, slider onto view deck. Windows, windows and more windows!

Take in the awesome view! Beautiful hardwood floors with an open floor plan, terraced yard with beautiful landscaping, separate entrance to lower level, large deck overlooking Port Susan Bay, Cascade Mountains, with the beautiful sun and moon risings. Three community beaches close by.

Danya Wolf 360-708-8294 MLS#1713013

RENTAL

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

lots 2&3 lakesiDe Drive, GlenHaven lakes

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 Danya Wolf Bellingham. MLS# 1628528 360-941-2983 360-982-0010 360-708-8294

$180,000 2xxx urban avenue, mount vernon

10866 roCkPort street, roCkPort

Danya Wolf

Sherry Ruderman

360-708-8294

(360) 540-1552

$89,500

Perfect time to snag this little piece of heaven at LakeTyee.

This comfortable park model with room addition is the perfect retreat. Imagine yourself snuggled up with a hot cup of cocoa and looking out the window as you see the giant snow flakes drop on the lake.

This is the year to do so. Beautiful properties have come and gone, but this one is for you! Sherry Ruderman (360) 540-1552 MLS# 1687797

44585 iDaHo lane #1b42, ConCrete, Wa 98237

$49,500

This beautiful piece of property sits along Grandy Creek. This lot has an RV and room addition to fit a large group. Enjoy the deck with gazebo while you listen to the creek. Or, sit by the fire pit while you relax and roasts some marshmallows for the smores. This one-of-a-kind location can be enjoyed throughout the year for get-aways. Dues $162/mo and enjoy for 210 days/year. Comes with lots of amenities, water, septic, garbage and power. Sherry Ruderman (360) 540-1552 MLS# 1687778

7704 silver lake roaD, maPle Falls

$349,000

This home ‘lives bigger’ than its stated size of 1491 sq.ft., offering 2 beds, plus bonus room, 1 3/4 baths on a large lot with ample parking, a detached 2 car garage and a HUGE storage building. The kitchen has a large pantry, skylight and plenty of cupboard/ counter space. Master has a large shower with an oversized vanity and a walk-in closet. Living area features vaulted ceilings and ceiling fan. Main bath has 2 doors for easy access to the laundry room and the outdoors. This home is set back from the road and has a beautiful front yard or you can enjoy the privacy of the large yard in the Sherry Ruderman Patricia box back, as well.

360-540-1552 Office Manager/Broker o: (360) 424-0300 MLS#1694535 C: (360) 941-9186

17180 memorial HWy mount vernon $415,000

4629 beaver PonD Drive s.

$105,000

Start your new home on this private 13,929 sq.ft lot in Eaglemont with all utilities in the street, surrounded by greenbelt and wooded area for maximum privacy, wonderful neighborhood with beautiful homes , walking distance to Clubhouse and restaurant with awesome views and sunsets. Eaglemont is an 18 hole Golf Course Championship Public Course!

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 Allen Road. Danya Wolf 360-708-8294 MLS# 1572330

Elva Hunter

i’m a seniors real estate specialist 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 Carla Fischer Elva Hunter to be YOUR SRES® 360-982-0010 360-202-3086

360.424.0300

$600,000

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

MLS#1649968

Great investment potential. 3 bed / 1.5 bath fixer upper on private 1.2 acres with evergreens and fruit trees.

Outbuilding and separate MIL. There is RV parking and spacious yard offering beautiful territorial views.

Close to Howard Miller Steelhead Park. Make it your gateway to the North Cascades! Enjoy, nature, hiking, fishing and wildlife watching.

44947 kayak trail #2b36, ConCrete, Wa 98237

$49,900

veterans - i am pleased and honored to offer Carla Fischer 360-982-0010 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.

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 2040734

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