Real Estate Weekly January 29, 2021

INSIDE

This Issue

A NEW YEAR MEANS A NEW OPPORTUNITY TO REVIEW YOUR HOMEOWNERS INSURANCE PAGE 5 RENTAL REALITIES ARE SHIFTING PAGE 7 CLASSIFIEDS PAGE 7

JAN 29 - FEB 4, 2021

INSIDE

TABLE OF CONTENTS

PAGE

5

A new year means a new opportunity to review your homeowners insurance ................P5 Q&A

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

Rental Realities Are Shifting...................................P7 Classifieds............................................................................P7

RE-Weekly To advertise in RE-Weekly or other Skagit Publishing publications, Call: 360.416.2180 or Email: ads@skagitads.com ©2021 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

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.

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.

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

Are you prepared to protect yourself?

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.

LAND TITLE AND ESCROW W

RE-Weekly

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.

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

January 29, 2021

STAT Real Estate Stat

43.28 Million The number of housing units occupied by renters in the U.S. Source: Statista

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

$89,500

Sherry Ruderman

(360) 540-1552

Perfect time to snag this little piece of heaven at Lake Tyee.

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!

MLS# 1687797 January 29, 2021

RE-Weekly

3

2040740

44947 KayaK Trail #2B36, ConCreTe, Wa 98237

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!

RE-Weekly

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

January 29, 2021

ages. One of the most important areas to pore over concerns your coverage in case of complete loss, which can be found under “dwelling coverage” or “Part A” on your policy.

“You should have dwelling coverage in place that is sufficient to completely rebuild your home at an equal quality based on current prices. Since many people buy older homes, you may be surprised to learn that the replacement cost is much higher than the current value of the home,” says Sawan. “In fact, Nationwide Insurance found that the average underinsured amount for replacement coverage was 22% – with some homes underinsured by 60% or more.”

Another area that bears scrutiny is your liability coverage.

“We recommend as much liability insurance coverage as you can reasonably afford. While homeowners commonly purchase $100,000 in liability covfor coverage and can save not be aware of unless you erage, a minimum range money. carefully read the policy.” of $300,000 to $500,000 “It is critically important Many advise parsing is a better idea to protect to review your policy at through your policy payou from litigation in the least annually to deterperwork well before your event someone suffers an mine if your coverage annual renewal deadline injury or damage on your needs have changed or before storm season hits property,” Sawan adds. or whether it is time if you live in a weatherAdditionally, Hernandez to increase or decrease vulnerable area of the recommends paying close coverages,” says Armando country. attention to important Hernandez, trial attorney “We recommend review- exclusions and/or limitaand founder of The Law ing it at least one month tions, such as caps on Offices of Armando G. prior to renewal so that water damage and mold, Hernandez in Miami. you have time to shop for cast iron exclusions and “Consider that your other policies that may limitations, and/or “right coverage limits may have fit your needs,” suggests to repair” clauses – which changed from year to year Dennis Sawan, an insurallow the carrier to select and no longer reflect your ance and personal injury the third-party that will original understanding of attorney in Toledo, Ohio. repair any damages. the policy coverages. Also, Thoroughly examine your “Often it’s what your policies often include ex- declaration page, which policy doesn’t cover and clusions, deductibles, and/ will indicate the policy spell out or include that or coverages that you may period and different cover- are the most important

A new year means a new opportunity to review your homeowners insurance

by Erik J. Martin here are lots of New Year’s resolutions you can make as we turn the calendar page to 2021. You can vow to get in better shape after several sedentary months sheltering at home from coronavirus. You can aim to illuminate junk food from your diet and shop organic. But one of the most important pledges to pursue can better protect your property and your wallet: Make needed changes to your homeowners insurance policy.

“It’s important to review your homeowners insurance at least once a year or

T

January 29, 2021

during an event change, such as getting married or making a large purchase, home renovation, or otherwise,” says Jade Plummer, an insurance broker at Unity One Insurance in San Clemente, California.

“The turn of the year is as good a time as any to perform this due diligence as a consumer.”

Scrutinizing your policy may reveal gaps and deficiencies that can leave you financially vulnerable if, for example, your house burns down or you’re sued by someone injured on your property. Or, there’s always the chance that you’ll discover areas where you may be overpaying

RE-Weekly

things to identify when reviewing your insurance,” suggests Sawan.

To better determine changes in coverage you may need, it’s smart to walk around your interiors and grounds, taking careful notes of any improvements you’ve made as well as areas of deficiency.

Take videos and photos of your residence as well as your personal property and store these files in the cloud and on a hard drive or removable storage device that you can easily access in the event you suffer a catastrophic loss that triggers an insurance claim.

“Also, think in terms of scenarios and ‘what if ’s.’

What if my neighbor’s tree falls on my house? What if my dog bites a guest?

What if my newly finished basement floods? Thinking in these terms can help you understand any potential gaps in coverage,” Sawan advises.

To possibly cut costs, analyze your “other structures” coverage for things like a shed, swimming pool, barbecue grill, gazebo, or fence.

“If you don’t have any of these things any longer, you can try to lower that coverage down,” says Plummer. “Additional living expenses is another area where you might be able to save some money.

And combining your auto and home insurance policies, installing an alarm system, changing the roof type, and playing around with different deductibles can also yield savings.”

5

Home “tenure” Question:

We want to buy a home. Our idea is to own for about five years. If this assumption is correct, how will it impact our mortgage financing?

Answer:

The length of property ownership is called “tenure” and expected ownership terms are very much in flux.

According to the Profile of Home Buyers and Sellers for 2020, a publication produced by the National Association of Realtors (NAR), “in 2020, the median tenure for sellers was 10 years. In 1985, the median tenure was just five years. In the last 30 years, sellers have remained in the same home for longer periods of time. From 1987 to 2008, sellers stayed in the home for a median of six years, except in 1997 when the median tenure bumped up to seven years. After 2008, the median tenure in the home began to increase by one year each year. While there has been some change in recent years, in 2019 and 2020, the tenure has remained at a high of 10 years.”

The general trend toward longer ownership terms raises several issues.

First, as owners hold onto their property for longer periods, it means fewer homes are available for sale. The result is less inventory – supply – and thus more pressure to increase prices Second, when owners sell in most cases, they are getting the benefit of higher prices but must face the reality that prices for nearby replacement homes have also increased.

Some owners are getting around this problem by moving to communities with lower costs, something made increasingly practical with new technologies.

“Remote work has opened up a whole new world of possibilities when it comes to buying a home,” said Redfin chief economist Daryl Fairweather. “Many residents of expensive areas like New York or Los Angeles couldn’t manage to afford rent and save for a home at the same time. So it’s no wonder that these folks are looking to buy homes in much more affordable places like Louisville and Little Rock.

Third, the pandemic is causing some homeowners to re-think location preferences. A Redfin October study has found that “26% of Americans said their local government’s response to the coronavirus pandemic has

Q&A

ASK OUR BROKER

By Peter G. Miller

made them want to move away from where they currently live or change where they want to move.”

The same study found that 21% “said their local governments’ pandemic response has made them like where they live more.”

Fourth, we don’t know how the pandemic will influence ownership patterns going forward. Covid-19 lockdowns seem to encourage the ownership of larger homes in part because, with widespread unemployment, families are living together more often. A September report from the Pew Research Center found that “a majority of young adults in the U.S. live with their parents for the first time since the Great Depression.”

Lastly, elongated ownership periods impact mortgage choices. If you expect to live in a property for a relatively short time, then paying points up-front becomes very expensive and undesirable. If you expect to stay in a home for a long period, then paying points upfront might make sense. For details, run the numbers with a loan officer to see which option works best for you.

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

RE-Weekly

January 29, 2021

RE-Weekly

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.

Rental Realities Are Shifting

By Marilyn Kennedy Melia he apartment market upended in 2020, with rates landing higher in some places and toppling from tip-top levels in cities like San Francisco, Los Angeles, Washington D.C., Boson, Seattle and New York.

The re-shuffling results from the surge in remote work and job losses, with many migrating for lower-costs. Now,

T

January 29, 2021

2 Bdrm house with loft

still offer lower rates; it apartment shoppers face continue to decline, but eral metro, one saw an on 1/4 acre, needs remodeled but is livable, a totally different, evolv- at a slower rate … in the increase while the other depends on the demand asking $159,500. To view dynamics in that metro. short-term at least.” ing landscape. experienced rent rate call 520-221-1607 or 360-840-3292.

“Renters will just need Besides the possibility drops. Most dramatito prioritize” what of finding a lease with cally, rates fell in New Big Cities, they’re willing to pay for “lower cost of living but a lower rate than they York City, but rose in Bright Choices equal quality of life,” a certain location and paid earlier, renters Newark. In Ft. Worth, Renters in high-cost TX rates declined about amenities, says Carberry. says Carberry. cities are seeing current may be able to negotiWhether migration ate “concessions such five percent, while rates on apartments trends reverse back is an as discounted parkArlington was up about New Appeal, dropping an average open question. ing or amenity fees,” the same; Madison, WI Lasting Love? of 15.2 percent from No matter where they’re says Brian Carberry became less expensive Landlords in cities like pre-Covid levels, ac Milwaukee rose.

St. Louis, Cleveland, living, renters should

cording to research from of Apartment Guide. while Moving nearby but Indianapolis among prepare for the possibil Zumper, which tracks ity of a rent hike when Different Tales, saving on rate attracted were happy in 2020 rental charges. they renew again in scared workers. because rental demand Neil Gerstein, Zumper Neighboring Cities 2022, Carberry conincreased due to an In some places, the data and growth analyst, Across the country, in influx of people seeking cludes. neighboring city will expects “prices will likely cities in the same gen-

RE-Weekly

10 - January 29, 2019

7

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

7308 Hobson rD., boW

$235,000

$2,200/mo

$49,900

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

i’m a seniors real estate specialist

Every transition is an opportunity, regardless of your stage of life. By partnering with an SRES like one of us, you gain the help and experience of a Realtor® specializing in meeting the needs of home buyers and sellers 50+. We offer you the opportunity to complete your transaction with patience, professionalism and the expertise you deserve. We are pleased to be Carla Fischer Elva Hunter YOUR SRES® 360-982-0010 360-202-3086

$79,500 2xxx urban avenue, mount vernon

4969 Helena lane #2C78, lake tyee

Danya Wolf

Sherry Ruderman

360-708-8294

(360) 540-1552

44585 iDaHo lane #1b42, ConCrete, Wa 98237

$49,500

17180 memorial HWy mount vernon $415,000

4629 beaver PonD Drive s.

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

1237 liberty lane, burlinGton

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

$375,000 10866 roCkPort street, roCkPort

Bring this one level el 1408 sq. foot foot, 3 bed/2 bath th home situa situated in a quiet, privatee setting back to its original glory. glor H al ceilings in the living, Home offers cathedral living kitchen. A double garage, deck dining and kit 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 Danya Wolf 360-708-8294 enhance your enjoyment.

$199,000

Great investmentt potential potential.

3 bed / 1.5 bath fixer er upper on priv private 1.2 acres with ev evergreens and fruit trees.. Outbuilding and separate MIL. Ther is RV parking ing and spacious yard There y ering beautiful territorial views. offering t lose to Howard Miller Steelhead Close H Park. Make it your Park gateway to the North Cascades!

Enjoy, nature, hiking, fishing Patricia box Sherry Ruderman Manager/Broker and wildlife Office (360) 540-1552 o: (360) 424-0300 C: (360) 941-9186 watching.

G

G

IN D N E P

IN D N E P

360.424.0300

$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

RENTAL 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 Danya Wolf moon risings. Three community beaches close by.

360-708-8294

$600,000

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

MLS#1649968

Looking out to Mount Baker and beautiful territorial views with your hot cup of coffee as you sit on your quaint comfy porch is just where you want to be after this crazy year. Start 2021 with the perfect get-away in the North Cascade Range Foothills. This almost brand new park model is nestled in Lake Tyee Recreational Resort. The loft gives you extra sleep space for guests and there is plenty of parking, as well. You’ll enjoy this quiet, peaceful and gorgeous location. Come take a look for yourself. 210 days/yr and $162/ mo dues includes water, septic and garbage. MLS1716532

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 1422 Country Club Drive, Camano islanD

lots 2&3 lakesiDe Drive, GlenHaven lakes

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

RE-Weekly

January 29, 2021