INSIDE
This Issue THE PRICE IS RIGHT – AND RIGHTLY TIMED PAGE 5
WHY SELLERS FOLLOW A BUYER’S MONEY TRAIL PAGE 7 CLASSIFIEDS PAGE 7
MARCH 5-11, 2021
TABLE OF CONTENTS
INSIDE PAGE
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The price is right – and rightly timed ...............P5 Q&A
Ask Our Broker.......................................................................P6
Why sellers follow a buyer’s money trail .......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
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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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 2
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STAT Real Estate Stat
74% The percentage of sellers who would definitely use the same agent again. Source: National Association of Realtors
NORTH PUGET SOUND ASSOCIATION of REALTORS®
Feature Home From cover:
525 East College Way, Suite J
4425 Bryce Drive, AnAcortes
Mount Vernon, WA 98273
(360) 416-4902
www.npsar.realtor
$795,000
Six Signs You Are Ready To Buy If you are thinking about buying, you're not alone. So are you ready to make the move? You might be if you: 1. Are familiar with the market. If you've been paying attention to how much houses are listed for in the area you’d like to live, you're in good shape. 2. Have the money for a down payment and closing costs. Generally, buyers will receive an estimate of these costs from your lender after you apply for a mortgage. 3. Know how much you can afford. Your monthly mortgage payment should be less than or equal to a percentage of your income. Also, your income, debt and credit history go into determining how much you can borrow. 4. Know what additional expenses will come with owning a home. Including homeowners insurance, utilities, and maintenance costs. 5. Have your credit in good shape and make sure your credit report is accurate. You should get a report from each of the three credit reporting companies: Equifax, Experian, and Trans Union. 6. You haven't made any recent major purchases, particularly a vehicle. If you do, you may have a harder time getting a loan, or it could potentially lower the amount you'll be approved for. Realtor.com~Michele Dawson Mission Statement: The North Puget Sound Association of Realtors advocates for Realtors and their clients, and promotes the protection of property rights.
March 5, 2021
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Windermere real estate/anacortes Properties P 3018 commercial ave. Anacortes,WA • 360-293-8008 www.anacortesrealestate.com
LEAH COURAGE 360-317-8888
An exquisite and rare sanctuary in the heart of Skyline. Stunning and private 4 bedroom / 4 bathroom one-level home sits on nearly 1/2 acre and backs up to greenbelt and creek. Timeless contemporary design with elegant custom millwork and solid maple hardwood floors throughout. Foyer leads to large family room with built-ins, gas fireplace with intricate traditional mantle and granite surround. Giant chefs kitchen with custom cherry cabinets, granite countertops, 2-level breakfast bar / island, 2nd sink, coffee bar & work station, opens to family room. French doors off dining room lead to giant deck, and extensive private fully-fenced yard. Master bedroom has spacious walk-in closet, ensuite bath with jetted soaking tub and shower. Custom high-end music studio with separate entrance. A rare gem! MLS#: 1726830 2043109
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Now could be the time to sell a new home and earn a slice of the real estate pie.
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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! 4
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RealEstate weekly In print and online goskagit.com ads@skagitads.com
March 5, 2021
g c a – o a d t c t
s p i w w g b s a
The price is right – and rightly timed
By Erik J. Martin CTW Features t’s been said that the best-laid plans of mice and men often go awry. And this can certainly be an applicable axiom for home sellers – many of whom insist on a high initial list price and stubbornly refuse to decrease that amount if the property hasn’t been claimed after a certain time. The latter strategy should be avoided, the experts agree. That’s because if a home hasn’t sold within its introductory window, it’s likely not going to entice the right buyer unless the deal is sweetened in the form of a reduced price. “An overpriced property
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a price is not when you get nervous – it’s when you and your agent have previously agreed to come ing a major financial hit down in price to ensure and know what to expect your goals are met.” if and when a price cut is Greg Bond, president/ needed. owner of The Property “I suggest setting a Manager Guys in Orlanpricing calendar. Before do, says the ideal time to even listing your proplower the price on a home erty, establish your asking for sale is after completprice as well as your bot- ing a few crucial steps tom line price and agree that don’t result in getting to lower your price by a any offers on the table. predetermined percentage “You first have to check every few days thereafter and compare other listuntil it sold,” recomings in your area to make mends Donato Callahan, sure you’re at a competiowner of Stepping Stone tive price level,” he says. Houses, a real estate “Next, you need to review investment company in and improve the copyBoise, Idaho. “This makes writing on your home’s the process unemotional, listing or ad. You should logical, and predictable. have held multiple open The right time to lower houses that generate a low
When to lower the price on your home for sale becomes stagnant after a few weeks, and the market will begin to doubt the value of the property and wonder if there is an issue with its condition or location,” explains Tim Robertson, an associate broker with Newport Beach, California-based Compass/TriVista Real Estate Group. “When this happens, it’s almost guaranteed that the property will eventually sell for less than fair market value.” And that can lead to significant seller’s remorse. But by strategizing carefully with your real estate agent ahead of time, you can avoid tak-
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turnout rate. And you should offer an attractive commission or compensation to selling agents, which will incentivize them to schedule showings.” Bond suggests considering several factors before lowering your price, including: Your location and neighborhood – how desirable is the locale, and how easy is it to get around the area? Competition – What is the average selling price of other houses in your area, and what are the features that your rivals are trying to promote? A thorough review of your market listings – Have you posted a virtual tour or beautiful photos of your property? Is your copy attractive enough to entice potential buyers? Market feedback – Have you considered what other people are saying about your house? Is it priced a little too high? Days on the market. Robertson’s benchmark criterion for a price reduction is if there have been 20 or more showings with no offer. “If your home has been on the market more than four weeks without an offer, the property is likely overpriced and due for a discount,” he says. Others suggest a more aggressive timetable. “I recommend making a price reduction within the first 15 days if you’re not receiving enough views online and traffic at your home without offers,” says Jim Whatley, real estate broker for Uber Realty LLC in Fort Walton Beach, Florida.
The percentage you should lower your price by will depend on your location, comfort level, and agent’s advice. “Historically, the first price adjustment usually ranges from 4% to 8% lower. This is what it often takes to re-energize the market and get its attention,” suggests Robertson. Consider a second or subsequent price cut if your number of leads didn’t increase following the last price cut, recommends Bond. “After analyzing online engagement plus the number of showings and inquiries, if you still feel you are achieving sufficient exposure but not generating offers, then it’s time to adjust the price yet again,” Robertson says. The timing of a price decrease is not an exact science; you and your Realtor will need to think carefully about all the possible consequences before pulling a price cut trigger. “If you lower the price too early, you might miss out on better offers. However, if you are too late, your property will sit on the market longer than you’d expect it to be,” notes Bond. Remember: “A property is only worth what someone is willing to pay for. Often, that means finding the perfect buyer for your home, which requires cutting the price,” Callahan adds. 5
Low Rates and Low Down Payment Question:
Is it possible to get financing with both today’s low rates and little or nothing down?
Answer:
Yes. Let’s look at some options. Borrow $200,000 at 3% fixed and the monthly cost over 30 years is $843.21. Borrow the same amount at 8% – the long-term typical mortgage rate – and the monthly cost is $1467.53. The difference is huge, and for many households real estate that’s affordable at 3% is out-of-reach at 8%. If it takes 20% down to buy a home and the typical property is priced at $315,000 a buyer then needs $63,000 in up-front cash plus thousands more in closing costs. The entry cost in this situation is so steep that the interest rate is irrelevant for households without sufficient cash savings or access to down payment assistance. But -- and this is the good news -- what we have today is a situation where mortgage financing is available with little or nothing down plus rates at or near historic lows. You don’t need 20% down or anything close. There are several options to consider.
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VA financing. For VA-qualified borrowers mortgage financing is available with nothing down. There is an up-front guarantee fee that can be added to the debt but no annual insurance cost. FHA-backed mortgages. Loans insured under the FHA program are generally available with 3.5% down. This is an especially attractive mortgage option for first-time borrowers and those with minimal credit scores. USDA loans: The USDA program offers two loans with nothing down. These loans are available only in “rural” areas but the definition of the term can be surprisingly broad. For specifics, see: https://eligibility.sc.egov.usda.gov/eligibility/ welcomeAction.do The Section 502 Guaranteed Loan Program is designed to help low- and moderate-income households “purchase, build, rehabilitate, improve or relocate a dwelling in an eligible rural area with 100% financing.” Borrowers must be US citizens who will occupy the property as a prime residence. Borrowers must also be income eligible, meaning they cannot earn more than 115% of the median household income. The USDA Section 502 Direct Loan program is for those with significant financial and housing needs. According to
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Q&A
ASK OUR BROKER By Peter G. Miller
the government, “applicants interested in obtaining a direct loan must have an adjusted income that is at or below the applicable low-income limit for the area where they wish to buy a house and they must demonstrate a willingness and ability to repay debt.” Fannie Mae & Freddie Mac: Both offer financing with 3% down for certain borrowers under their respective HomeReady and Home Possible programs. The Freddie Mac program offers an interesting wrinkle. “Co-borrowers,” it says, “who do not live in the home can be included for a borrower’s one-unit residence, borrowers are permitted to have another financed property, and more – all with competitive pricing and the ease of a conventional mortgage.” Down Payment Assistance: There are thousands of down payment assistance programs nationwide. You can search for them by location at https://downpaymentresource.com/ are-you-eligible/ For more information regarding your specific situation please speak with local mortgage lenders. Email your real estate questions for Mr. Miller to peter@ctwfeatures.com.
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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.
Why sellers follow a buyer’s money trail By Marilyn Kennedy Melia CTW Features uyers have long needed a mortgage pre-approval letter to prove they’re serious home shoppers. Now, that paper testament isn’t enough. Sellers want a lender’s verbal assurance that a buyer has the financial wherewithal to make the purchase. A strange confluence of events – many markets seeing multiple offers from eager buyers amid a rocky economy – makes it important “for a buyer to stand out and
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convince a seller that they will execute as promised,” says Rob Thompson, Coldwell Banker, Colorado Springs, CO. Naked Truths? But especially if they’re moving within a tight-knit community where they may know the agents and sellers involved, don’t buyers have a right to privacy? It’s the process behind the mortgage pre-approval, not the actual numbers, like a buyer’s income, that matter, says Matthew Martinez of Diamond Group Real Estate, Santa Rosa, Ca.
WATERFOWL PROPERTY FOR LEASE I'm looking for private property for my family to duck hunt. A field with water or a dike to hunt off of. I will gladly pay for the opportunity and sign insurance waiver. Dad and four boys and Duke the dog. Todd Whitten 206 999-1332 toddwhitten@comcast.net
“Some lenders do the bare minimum [in granting a pre-approval letter],” he adds. “We want to see if they’ve verified employment, checked bank statements, and how close the buyer is on debt-to-income ratios.” Indeed, nosiness isn’t the aim; ensuring an offer will go through to completion is. In 2020, the National Association of Realtors found 20 percent of purchase contracts were terminated due to financing issues, and another 12 percent for a related reason, the buyer lost his job. Reliable Lender?
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PUBLISHER'S NOTICE
All rental and real estate for sale advertising in this newspaper is subject to the Fair Housing Act which makes it illegal to advertise any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin, or an intention, to make any such preference, limitation or discrimination Familial status includes children under the age of 18 living with parents or legal custodians, pregnant women and people securing custody of children under 18. This newspaper will not knowingly accept any advertising for the rental or sale of real estate which is in violation of the law. Our readers are hereby informed that all dwellings advertising in this newspaper are available on an equal opportunity basis. To complain of discrimination call HUD at (206) 220-5170.
2 Bdrm house with loft on 1/4 acre, needs remodeled but is livable, asking $159,500. To view call 520-221-1607 or 360-840-3292.
“Agents are extremely vocal about their experiences – especially negative – with lenders to other agents,” says A.J. Chinn of Platinum Realty, Overland Park, KS. Local lenders are often preferred, notes Jim Whatley, Uber Realty, Fort Walton Beach, FL, since if there’s a hitch, the buyer’s agent can easily find a person to talk with to push to get it resolved and then have the lender assure the seller. When agents work with buyers, they often suggest reliable lenders, but buyers are free to choose their own, Whatley stresses.
10 - January 29, 2019
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ALL OF OUR REALTORS ARE WORKING! BY APPOINTMENT!
Brett Tacker
(360) 840-7931
John Hunter
(360) 202-3086
Phil LaMay
(360) 840-3086
Carla Fischer
(360) 982-0010
JoAnn Boudreau
(360) 391-0746
Russ Lanker
(360) 708-1117
4969 Helena lane #2C78, lake tyee
Danya Wolf Designated Broker/Owner
(360) 708-8294
Kim Schlimmer
(360) 661-7670
Sherry Ruderman
(360) 540-1552
Elva Hunter
(360) 202-3086
$49,900
W CaSCade Way #l61&62, MarBleMoUnt
$225,000
4629 Beaver Pond drive S.
$105,000
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
Very few properties manage to beautifully integrate the outdoors into their living space but this cabin in the woods will delight you with wilderness surroundings while cradling you in the kind of luxury you crave after a long hike. Let the magical flow of music from nearby Boulder Creek lull you to sleep in this cozy cabin kept toasty warm with a propane fireplace. Sip wine and relax on your covered deck down the short path from the cabin next to the wood fire in your cedar plank hot tub. This wonderland in the wilderness will certainly capture your imagination while providing a base for all your adventures in the Cascade Mountains. Sherry Ruderman MLS# 1729892 (360) 540-1552
Start your new home on this private 13,929 sq.ft lot in
7308 HoBSon rd., BoW
44585 idaHo lane #1B42, ConCrete, Wa 98237
44947 kayak trail #2B36, ConCrete, Wa 98237
$235,000
$49,500
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!
Elva Hunter
360-202-3086
$74,900
Patricia Box Office Manager/Broker
o: (360) 424-0300 C: (360) 941-9186
Suzanne Jenkins
(360) 941-2983
$79,500 2xxx UrBan avenUe, MoUnt vernon
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 LakeTyee 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 Sherry Ruderman (360) 540-1552 dues includes water, septic and garbage. MLS# 1716532
lotS 2&3 lakeSide drive, GlenHaven lakeS
$600,000
Prime commercial property with utilities in street, including P.U.D. water, Puget Sound Energy electricity; Cascade Natural Gas, fiber optics; cable; and sewer. Subject To survey and short plat. Address is not available from City at this time. “Address” is “2XXX Urban Avenue”. Property is located between Chicago Title Company northerly parking lot and Max Dale’s Restaurant northerly parking area.
Danya Wolf
360-708-8294
i’m a Seniors real estate Specialist
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
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. Danya Wolf Sherry Ruderman 360-708-8294 (360) 540-1552 MLS#1723545
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 MLS# 1687797 (360) 540-1552
17180 MeMorial HWy MoUnt vernon $415,000
7704 Silver lake road, MaPle FallS $349,000
44974 kyUqUot trail #2C90, lake tyee
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 360-540-1552 Office Manager/Broker back, as well. o: (360) 424-0300 MLS#1694535
Dreams come true on this gem tucked away in Lake Tyee. Beautiful location with view of Mount Shuksan, the double parcel will fit friends on this glamping spot. 1 lot has a gorgeous and huge cover with deck. 2nd lot with deck to easily place another RV. Don’t wait long to view this property. Lots of amenities at Lake Tyee, not to mention the surrounding area of forest, rivers, creeks to fish, hike and enjoy nature. Sherry Ruderman MLS#1729324 (360) 540-1552
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
H Street rd., Blaine
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
360.424.0300
C: (360) 941-9186
$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 appointment. Danya Wolf 360-708-8294 MLS# 1568051
$99,900
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 2043165
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