Real Estate Weekly April 23, 2021

INSIDE

This Issue THE 10 MOST AFFORDABLE LARGER METROS FOR FIRST-TIME HOME BUYERS PAGE 5 RE-DEFINING THE PERFECT APARTMENT PAGE 7 CLASSIFIEDS PAGE 7

APRIL 23-29, 2021

INSIDE

TABLE OF CONTENTS

PAGE

5

The 10 most affordable larger metros for first-time home buyers ....................P5 Q&A

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

Re-Defining The Perfect Apartment..................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.

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April 23, 2021

STAT Real Estate Stat

1.03 million The amount of housing inventory remaining at the end of February 2021.

Source: National Association of Realtors

FEATURED HomE FRom covER:

525 East College Way, Suite J

18582 CasCade Ridge Ct, Mount VeRnon

Mount Vernon, WA 98273 (360) 416-4902

www.npsar.realtor

The Term REALTOR® The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® (NAR) and subscribes to its strict Realtor Code of Ethics.

Local associations are required to enforce the code of ethics through a Professional Standards Council or Committee.

The REALTOR® Political Action Committee (RPAC) fights for Homeowner and property rights in Washington DC, Washington state and right here in your community.

Using a designated REALTOR® assures that your transaction in handled ethically, and that your rights will be protected now, and in your future as a homeowner.

To find a REALTOR® member in your area, www.npsar.realtor to view our member and affiliates lists.

visit

Mission Statement: The North Puget Sound Association of Realtors advocates for Realtors and their clients, and promotes the protection of property rights.

April 23, 2021

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Skagit Tradition Realty LLc 3780 E. college Way mount vernon, WA 360-424-0300 www.skagittraditionrealty.com

$998,000

Danya Wolf

(360) 708-8294

Private 5.78 equestrian acres surround this 3130 square foot custom home with elegant finish work: 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.

528 sq. ft. garage; 36 X 36 barn with three stables; a tack room; shop space; plus a loft.

Four separate fenced areas for horses, plus an outdoor arena. Wonderful trails throughout wooded portion. Conway Schools through eighth grade. Choice of Mount Vernon High School, Stanwood High School, or LaConner High School thereafter. MLS#1742520 3

2045390

NORTH PUGET SOUND ASSOCIATION of REALTORS®

B

Now could be the time to sell a new home and earn a slice of the real estate pie.

y i y a t l o t y a

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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April 23, 2021

h c f r o a fi c o E ( v p C e 7

them more affordable,” adds Roberts. “But I don’t think someone should move to a completely new city based solely on where it fell and our rankings.

Housing affordability can be a deciding factor when you’re thinking of moving, but it shouldn’t be the only factor.”

Remington agrees.

“Budget is important.

But so is looking closely at things like past appreciation, which can be a good predictor of future housing appreciation. Buyers should also take into account school ranking and location, close proximity to large airports, community amenities, crime rate, and other factors,” “Even though it’s the fifth-largest city in Texas, she says. it has a much higher To better determine poverty rate than many what you can afford, Gina other cities in the state,” Pogol, personal finance she notes. “Affordability specialist with mortgage can be a very real factor education site Gustancho. for homebuyers, but understanding other factors com, recommends crunchthat impact local markets ing the numbers with a is essential. Often, the rea- home affordability calculasons behind lower-priced tor (many of these free homes in more densely tools are found online). populated areas are more “Remember that complex than they appear homeownership involves on the surface.” repairs and maintenance, Roberts believes top which can equate to 1 to 10 lists like this one can 5 percent of your home’s be helpful for prospective buyers trying to learn value per year, in addition to property taxes and more about cities they insurance,” notes Pogol. already know about and possibly want to live in.

“Be sure to compare your “Lists like this can monthly housing expenses inform people that live in to your current housing cities with bad markets expenses and ask yourself: about what their options How much higher is the are elsewhere. Top 10 former versus the latlists can also be helpful for policymakers, as they ter? Where will the extra money you need come work to improve their communities and make from?”

The 10 most affordable larger metros for first-time home buyers

By Erik J. Martin

Y

ou’re practically salivating at the thought of owning your own home and leaving renting behind. But all you hear is how unaffordable homes for sale are today, and everywhere you look seems financially out of reach. Where do you turn for hope, especially if you want to settle down in a city?

For starters, and a starter home for that matter, consider the latest research from Move.org, which recently published a list of the 10 most affordable metro markets for first-time buyers in the country. They are, in order of affordability: McAllenEdinburg-Mission, Texas (where the median home value is $87,100 and the population is 855,176); Cape Coral/Fort Myers, Florida ($224,800, 737,468); Lakeland/ April 23, 2021

Winter Haven, Florida ($150,800, 686,218); Boise City, Idaho ($239,900, 710,743); Baton Rouge, Louisiana ($181,700, 854,318); Greenville/ Anderson, South Carolina ($163,400, 895,942); Ogden/Clearfield, Utah ($255,500, 662,875); Columbia, South Carolina ($154,400, 824,278); Palm Bay/Melbourne/ Titusville , Florida ($196,400, 585,507); and Deltona/Daytona Beach/ Ormond Beach, Florida ($184,200, 646,288).

Joe Roberts, a spokesperson for Salt Lake Citybased Move.org, says he was surprised by the fact that four of these 10 most affordable cities and towns for first-time buyers, as ranked by the organization, were in Florida.

“While a few big Florida cities like Miami and Orlando were far from the most affordable, there were still a surpris-

ing number of inexpensive metros in Florida, a state known for its sunshine, beaches, and more relaxed lifestyle,” he says.

As you can see from the list, lowest home price didn’t necessarily dictate a higher affordability ranking.

“While you might expect the average home price to be the only factor that matters for home affordability, housing markets are actually a lot more complex than that. One of the most important factors we ranked cities for was how much that city’s homes cost relative to the average income of its residents,” explains Roberts.

“The incorporation of this factor meant that the average home price in one city could be higher than the average price in another.

If our rankings were based solely on home prices, the cities with the cheapest homes would rise to

the top – but that doesn’t mean residents could afford them.”

Luke Smith, a home flipper and real estate investor in Louisville, Kentucky, believes many of these markets that made the top 10 are worth a closer look, although caveats apply.

“For example, Fort Myers is affordable for a multitude of reasons. It’s on the Gulf Coast, an area hit with substantial hurricanes in the past decade. Many residents moved away rather than waiting for everything to get rebuilt,” says Smith. “It’s a wellknown area, but it isn’t in as much demand as other Florida destinations.”

Debbie Remington, broker/owner of Remington Team Realty in Alvarado, Texas, understands why McAllen (which placed number one on the list) could look appealing to many on a tight budget.

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Simplifying the mortgage application process Question.

If there’s a choice between a full docs mortgage application and a bank statement application which will make the most sense for the typical borrower?

Answer:

There has always been a quest to deliver as little paperwork as possible to mortgage lenders, a quest sometimes encouraged by lenders themselves. During the mortgage meltdown, for example, lenders marketed such things as NINJA (no income, no job, no asset) mortgage applications. These applications allowed lenders to approve loans with both less underwriting vigor and higher mark-ups.

The usual reasons to provide less paperwork often include claims of “privacy” or an aversion to record keeping.

In fact, as a borrower it likely benefits you to provide a fully-documented loan file. I’m aware that this sounds like financial sacrilege to some, but there are reasons to prefer a hefty loan application file.

First, the 2010 Dodd-Frank legislation was designed

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to remove as much risk as possible from the mortgage lending process. It requires – among other things -- that lenders verify the ability of borrowers to re-pay their loans. Lenders who fail to do a proper job can be forced to buy back loans, pay fines, face very unpleasant lawsuits, and maybe lose their licenses.

The result is that when a borrower walks through the door with a file full of documentation the lender is elated.

Second, there’s less paperwork required today than in the past. Not less documentation, but less paperwork.

For example, borrowers are typically required to provide bank statements and tax returns to lenders. Today the requirement for such documents remains in place but now – with the borrower’s permission – lenders can get statements directly from banks and tax transcripts from the IRS. This is a big deal for lenders. They can get information untouched by the borrower, meaning the documents cannot be altered.

Third, if a loan becomes distressed it’s tough for a lender to complain about the borrower when so much

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Q&A

ASK OUR BROKER

By Peter G. Miller

information was made available. Paperwork is a good protection for borrowers. And lenders.

Fourth, bank statements may lead to lender questions. A sudden cash deposit, for example, may be an underwriter red flag. Overdrafts can also be an issue.

Some loan programs accept bank statements in lieu of other paperwork, generally for those who are selfemployed or have their own businesses. You typically need account statements for the past 12 or 24 months as well as business statements for three months.

Bank statements, coupled with good credit and solid cash reserves, can be used by borrowers to qualify for certain programs.

The real point, though, is don’t be distracted by application options. Keep your eye on the bottom line.

Compare interest rates, points, application fees, APRs, and other factors for bank statement loans with fulldoc loan applications. In particular, look at the Loan Estimate (LE) form lenders are required to provide. Go to page three and compare five-year financing costs.

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

April 23, 2021

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CLASSIFIEDS 2 BEDROOM HOUSE FOR SALE IN HAMILTON Livable, fixer-upper, some land. $119,500.

Call 360-770-5686 or 520-221-1607.

PUBLISHER'S NOTICE

“ Re-Defining The Perfect Apartment”

By Marilyn Kennedy Melia

A

partment shoppers are searching for features this spring that weren’t even top-of-mind a year earlier.

Not all renters have the same wish list, but definite pandemic-related themes have emerged, find several surveys.

Here, a look at what renters want, and how easy it may be to find: Craving a breath of fresh air After a year when many were working at their their own computer “you April 23, 2021

might think that things like Internet speed or a home office top the priority list of people browsing for new rentals,” reports RentCafe, which surveyed 10,000 rental shoppers on its site. Instead, they want to escape from their quarters by stepping out on a balcony or in an open-air space.

“Most apartments in suburban or rural areas will have access to a balcony or common outside area,” says Brian Carberry, managing editor of Apartment Guide. But for those who probably crave a breath the most – renters in dense urban areas,

these spaces are harder to find.

Looking to tuck stuff away In its own survey of 3,000 renters, Apartment Guide found storage suddenly popped to the wish list, but “wasn’t even something renters mentioned” in the site’s previous survey two years ago.

For those intent on a balcony; it’s likely they’ll end up with spare storage too, as it’s common for a small storage area to be connected to it, says Carberry. When storage isn’t provided in a unit, some properties will offer options for an extra

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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.

monthly fee.

Moving to a new location, maybe save money.

AppFolio, found that 60 percent of 1,000 renters it surveyed want a change of location, and 44 percent of those are looking for a less populated area.

For the 29 percent of survey respondents to RentCafe who say they are moving to “get a better deal,” the chief way to do that is by “moving out of downtown areas to neighborhoods on the outskirts of a city or in the suburbs,” Carberry says.

10 - January 29, 2019

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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

63377 HiGH ridGe dr. #d3 l115, MarBleMount $80,000 Sunny, nice quiet street located in Cascade River Park. Pack your bags cause she’s ready to go. Turn key with trailer, covered deck, storage sheds and lots of room for parking and tents. This lot is ready for you, family and friends to enjoy this summer.

(360) 540-1552 MLS# 1754582 Sherry Ruderman

45153 kokanee trail lot # 3C3

$48,000 4969 Helena lane #2C78, lake tyee

What To Bring: Wine/Spirits, Snacks, Food, Clothes, Firewood TURN KEY! Sweetest vacation spot located at Lake Tyee. The trailer has a bedroom and bunk beds for the littles. Every little detail of this property is absolutely adorable; from the renovations of the trailer to the cozy deck, engaging yard and firepit area. COME Sherry Ruderman QUICKLY! YOU WANT THIS ONE! (360) 540-1552

4629 Beaver Pond drive S.

$105,000

2xxx urBan avenue, Mount vernon

street, including P.U.D. water, Puget Sound Energy electricity; Cascade Natural Gas, fiber optics; cable; and sewer. Subject To survey and short plat. Property is located between

Start your new home on this private 13,929 sq.ft lot in Eaglemont with all utilities in the street, surrounded by greenbelt and

Chicago Title Company easterly parking lot

wooded area for maximum privacy, wonderful

and Max Dale Restaurant’s south

neighborhood with beautiful homes, walking distance to Clubhouse and restaurant with

easterly parking area.

awesome views and sunsets. Eaglemont is an 18 hole Golf Course Championship Public Course!

lotS 2&3 lakeSide drive, GlenHaven lakeS

360-202-3086

MLS# 1649968

$49,900

w CaSCade way #l61&62, MarBleMount

Elva Hunter

$89,500 44585 idaHo lane #1B42, ConCrete, wa 98237

$49,500

NEW PRICE

8001 aCorn lane #d1 l162, MarBleMount

$14,000

With the roar of the Cascade River and beautiful green surrounding you, this little fixer upper is the perfect spot for solitude. Call today for your tour around the gorgeous Cascade River Park.

MLS# 1756030 Sherry Ruderman

(360) 540-1552

17180 MeMorial Hwy Mount vernon $415,000

7704 Silver lake road, Maple FallS

PE

$99,900

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 (360) 540-1552 MLS# 1729324

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 Danya Wolf Sherry Ruderman (360) 540-1552 amenities, water, septic, garbage and power. MLS# 1723545 360-708-8294

360.424.0300

$225,000

44974 kyuquot trail #2C90, lake tyee

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

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

Danya Wolf

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

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

$67,000 44947 kayak trail #2B36, ConCrete, wa 98237

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

$600,000

Prime commercial property with utilities in

$329 329,000

This home‘lives bigger’than than its stat stated sizee of 1491 sq.ft., sq lar offering 2 beds,, plus bonus room, 1 3/4 baths on a large park , a detached 2 car lot with ample parking, c garage and a stor building. The kitchen has a large pantry, HUGE storage k skylight and plenty plent of cupboard/counter space. Master with an oversized vanity and a has a large shower sho walk-in closet. Living area features vaulted ceilings and walk ceiling fan. Main bath has 2 doors for easy accesst 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 o: (360) 424-0300 back, as well. MLS#1694535 C: (360) 941-9186

IN ND

G

Office Manager/Broker

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 2045421

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