Real Estate Weekly April 30 2021

INSIDE

This Issue WANT TO AVOID A BIDDING WAR WITH OTHER BUYERS? CONSIDER BUILDING NEW PAGE 5

DOWN PAYMENT HELP IS AVAILABLE FOR SELECT BUYERS PAGE 7 CLASSIFIEDS PAGE 7

APRIL 30-MAY 6, 2021

TABLE OF CONTENTS Want to avoid a bidding war with other buyers? Consider building new ...........................P5

INSIDE PAGE

5

Q&A

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

Down Payment Help is Available for Select Buyers.............................................................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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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.

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April 30, 2021

STAT Real Estate Stat

20 Days The average number of days it took for a home to sell in February 2021.

Source: National Association of Realtors

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

Mount Vernon, WA 98273

Tel. (360) 416-4902

www.npsar.realtor

FEATURED HomE FRom covER: 60102 State Route 20, MaRbleMount

$777,000

Mission Statement: The Nor th Puget Sound Association of Realtor s advocates for Realtors and their clients, and promotes the protection of property rights.

April 30, 2021

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Mondo is a well established and well loved Korean and American family restaurant. Locals and travelers make this part of their Hwy 20 and North Cascade National Park trip.

Major arterial choice to Newhalem andcontinueontoWinthrop;orcross Skagit River bridge and continue up to Cascade Pass and hiking to Stehekin. Restaurant is warm and inviting, with incredible fare.

Kitchen is beautifully remodeled.

MLS#1757641 3

2047630

Skagit Tradition Realty LLc 3780 E. college Way mount vernon, WA 360-424-0300 Sherry Ruderman Danya Wolf www.skagittraditionrealty.com (360) 540-1552 (360) 708-8294

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

B

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

e a p r r s s h e i

h s c f w t t April 30, 2021

new construction home you probably don’t have to fret about your mortgage lender’s appraisal coming in lower than what you’ve offered to pay, which is always a risk with a resale home.

The flipside to building new, of course, is a relatively higher price tag.

“With lumber costs skyrocketing this year, the expense of building a new home is usually dramatically more versus purchasing a used home,” cautions Jason Gelios, a Realtor in Southeast Michigan.

Another disadvantage is an uncertain timeline involved, which can put your move-in date in limbo.

“Many projects that have broken ground in the past 12 to 18 months are behind their proposed schedules, due to shortages and surging prices of critical materials,” Wagner adds. “I’ve worked with sellers who are planning to move into newly developed communities that

By Erik J. Martin old. That’s a big reason Passion Plans, a Raleigh, Investments in Nashua, are running 12 months why many home seekNorth Carolina-based New Hampshire, says. behind.” company that sells home orried that you ers today are exploring With a newly built Additionally, if you plan have to comnew construction in the floorplans. home, you don’t have to to build on an empty lot pete with sevform of a predesigned or By contrast, with a new worry about intensive or teardown site, financeral other home shoppers custom floorplan either in construction home you maintenance or repairs, ing can be complicated. and overpay for a used a builder’s development can create a one-of-a-kind outdated systems, or the That’s because you may product that will likely or on a tear down or infill layout or choose a preset hidden hazards of toxic have to make several require costly updates and site of their choosing. design that can be tweaked materials. separate transactions: first, repairs before long? In“When you purchase a to your preference.

“Your new home will be purchase the parcel of stead, why not start from conventional resale home, “You can create your built with high-quality in- land, then pay the builder, scratch – literally – by you’re likely going to want own customizations sulation to help maintain lastly get a mortgage loan having a new home built to change certain things and enjoy a brand-new proper climate, updated for the finished home. exactly the way you want around so they’re more property versus an older wiring to keep you safe Fortunately, many lendit and where you want it? to your liking. But unless one, your location can be from electrical accidents ers offer construction-toInventory of existing the house is really old exactly where you desired and fires, and updated permanent loans that roll homes remains in short and the needed upgrades to be, and your return on plumbing to help avoid all these transactions into supply, dwarfed by the are reflected in the price, investment can be much corrosion, leaks, and other one loan with one closing, continued robust demand you’re likely losing money greater. Plus, you’ll avoid issues,” explains Larry although the interest rates from buyers – many of because you’ll need to bidding wars, possibly Wagner, owner of Leave and fees charged for these whom are willing to pay complete improvements saving you time, money, the Key Homebuyers in can be more expensive top dollar for a residence after you move in,” notes and hassle,” Rick Abbiati, Long Island, New York. than traditional mortgage that’s likely several decades Thomas Jepsen, CEO of loans. owner of Colony Property What’s more, with a

Want to avoid a bidding war with other buyers? Consider building new

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April 30, 2021

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Despite these challenges, the experts agree that more buyers should consider new construction if they can wait out the process and afford it.

“Newly built homes tend to build and sustain communities by adding an increased amount of homes to the existing area.

Plus, they infuse more tax dollars into the local municipality, which can lead to more or even better services,” says Gelios.

New construction is essential to sustain the suburban housing boom, Abbiati insists.

“They help to keep prices down as well as feed the insatiable appetite of Americans looking to secure their slice of the American dream,” he says.

Before committing to building a home from the ground up, prepare to do your homework.

“Carefully consider the square footage you will need so that you can grow into the home as your family expands. Also, think about the level of finishes you want to include on both the interior and exterior, which will greatly affect your final price,” suggests Abbiati.

Also, research and vet builders and contractors thoroughly.

“You want to ensure that the builder you choose has a solid reputation for crafting quality homes,” Gelios recommends.

5

Bouncing back from mortgage forbearance Question:

We asked our mortgage lender for forbearance last year after two job losses in our household. We are now back in the workplace and while things are rickety how can we make up the mortgage payments we missed?

Answer:

Several million homeowners entered forbearance plans during 2020 under the COVID-19 relief options developed for those with financing that involved the FHA, VA, USDA, Freddie Mac, and Fannie Mae. In general, borrowers were allowed to request 180 days of forbearance twice, meaning essentially, they could go as long as a year under the original program.

In February, President Biden announced a forbearance program extension to “provide up to six months of additional mortgage payment forbearance, in three-month increments, for borrowers who entered forbearance on or before June 30, 2020.” In addition, homeowners can request forbearance for the first time until June 30, 2021. For details and specifics speak with your mortgage lender.

6

It’s easy enough to get forbearance, the question is what happens when forbearance ends. The good news is that the forbearance program has several exit options that generally allow borrowers to keep their homes and not wreck their finances. Here are the four available choices.

Lump sum repayment. In this case you go for “reinstatement” by writing a check for all missed payments. Example: You did not make four monthly payments of $1,200 each. You repay the debt with $4,800. Important: Lenders cannot require lump sum repayments under federal rules.

Repayment plan. You did not make payments worth $4,800. With new employment you start to make your regular payments, $1,200 a month. In addition, you pay a given amount, say $100 per month, until the outstanding debt is repaid. This increases your total monthly payment to $1,300 per month in this example.

Deferral. It might be that as a result of the pandemic you lost income and now have additional debts or lower wages. A repayment plan with higher monthly costs may not work for you. In this situation ask the lender about deferral (partial claim) options. With a deferral you can add the unpaid debt to your loan and repay when the

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Q&A

ASK OUR BROKER

By Peter G. Miller

home is sold or refinanced. Or, the lender can create a junior lien to be paid off when the property is sold or refinanced. In either case the effect is the same, your monthly payments are not increased and the debt becomes payable at some point in the future.

Modification. If affordability is an issue, then you might look for a loan modification. According to the Consumer Financial Protection Bureau (CFPB), with a modification, “your payment can be reduced to an affordable amount and your missed payments will be added to the amount you owe. Your monthly payments could also be lower, but it could take longer to pay off your loan.” In other words, the loan term is stretched out, so the monthly payments are lower.

The CFPB also says that “modifications may involve extending the number of years you have to repay the loan, reducing your interest rate, and/or forbearing or reducing your principal balance.”

With these options in mind, speak with your lender to see what choice is best in your situation.

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

April 30, 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

Down Payment Help is Available for Select Buyers

By Marilyn Kennedy Melia

lenge isn’t money being there, says Sean Moss, SVP of Down Payment Resource, oney for a down payment – it’s “getting the word out” to buyers. from a few thousand dollars Typically, first-time buyers whose inin low-cost areas to more than come falls under a certain threshold, like $25,000 in pricey housing markets – is the median in the county, can be eligible. available from non-profits, city, counFind your county with an Internet search; ties, and states at levels close to what the bigger the household size, the higher was available pre-pandemic, reports the the median. With some programs, veterans don’t have to be first-time buyers. website downpaymentresource.com.

The site counted 2,305 programs at the First responders, educators and health end of 2020, with 81 percent of them care workers also are often eligible for currently having funds for qualifying special benefits. buyers, despite pinched government and Buyers who do tap funds usually have non-profit budgets the last year. The chal- been directed to a program by their

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April 30, 2021

lender or real estate agent, says Moss.

For the many who may not hear this way, Moss suggests using the tool at the site to find your eligibility and then contacting a mortgage lender listed.

Officials at programs administering funds are also listed, but it’s best to contact a lender, agrees Todd Ludlow, vice president of Chenoa Funds, an assistance program.

Lenders listed as involved in programs are equipped to address specific borrower qualification questions.

Money isn’t often an outright gift; it’s a loan. but two-thirds of programs don’t

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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.

require immediate payback., says Moss.

The funds might be “in the form of a second mortgage, and you don’t pay it back until you move out.”

Or, monthly payback might begin after a few years.

More programs allow the purchase of a “manufactured home.” While that term is associated with “trailer park”, many of todays manufactured homes are site-built, in communities that look like any other development, says Moss.

“Prices are lower on manufactured homes,” a key factor for buyers needing down payment assistance, he concludes.

10 - January 29, 2019

7

60102 state route 20, MarBLeMount

$777,000 18582 CasCade ridGe Ct, Mount vernon Mondo Restaurant has a newly remodeled kitchen with beautiful, new appliances. Great work space and tremendous storage. Public area offers very spacious seating. There is also an outside dining option. Small gift shop area. Chef creates incredible and varied menu, both nutritious and delicious. Restaurant is situated in a beautiful location in the Cascade foothills.

Well worth a day trip. MLS# 1757641 Sherry Ruderman

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 Danya Wolf 360-708-8294 thereafter. MLS# 1742520

Danya Wolf

360-540-1552 360-708-8294

11602 PanoraMa drive, sedro-WooLLey $139,000 Build your dream home on your dream property. 5 acres of gorgeous, mature trees and all the county work has been done; wetlands delineation completed, mitigation, soil tests and septic permit applied, PUD and PSEonthestreet.Thiscornerlotinawonderful neighborhood is ready for you. Call and set your appointment today.

360-540-1552 MLS# 1764328 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

$49,900

W CasCade Way #L61&62, MarBLeMount $225,000

63377 hiGh ridGe dr. #d3 L115, MarBLeMount $60,000

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

Veryfewpropertiesmanagetobeautifullyintegratetheoutdoorsintotheirlivingspacebutthis cabininthewoodswilldelightyouwithwildernesssurroundingswhilecradlingyouinthekind ofluxuryyoucraveafteralonghike.LetthemagicalflowofmusicfromnearbyBoulderCreek lull you to sleep in this cozy cabin kept toasty warm with a propane fireplace. Sip wine and relaxonyourcovereddeckdowntheshortpathfromthecabinnexttothe wood fire in your cedar plank hot tub.This wonderland in the wilderness willcertainlycaptureyourimaginationwhileprovidingabaseforallyour Sherry Ruderman adventuresintheCascadeMountains.MLS#1729892 360-540-1552

NEW PRICE 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.

Sherry Ruderman MLS# 1754582 360-540-1552

Lots 2&3 Lakeside drive, GLenhaven Lakes

$67,000 44947 kayak traiL #2B36, ConCrete, Wa 98237

$89,500 44585 idaho Lane #1B42, ConCrete, Wa 98237

$49,500

NEW PRICE 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

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

$998,000

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 2xxx urBan avenue, Mount vernon $600,000

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

SO

$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

22904 BuMBLeBee Lane, Mount vernon 7 CAR COVERED PARKING

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. Property is located between Chicago Title Company easterly parking lot and Max Dale Restaurant’s south easterly parking area.

Danya Wolf 360-708-8294 MLS# 1649968

44974 kyuquot traiL #2C90, Lake tyee

$950 950,000

Special property on a very ery priv privatee 1.5 acres acr wn. CCustom handcr minutes from town. om handcrafted, tsman home ffeaturing sqf Craftsman turing 2278 sqft, mast & second master officee main level master upstairs. upstairs Dining ining & living room showcasing custom c stain glass windows. Kitchen w/ granitee counters, c handcrafted cabinets.

Beautiful eautiful oak floors. Detached MIL home 702 sq ft 1 bd & 1 bath w/2 car garage.

Separate 1080 sqft. shop & Pond and Waterfall. Total of 7 garage and shop parking spaces! Car lift included too! Fabulous home! MLS# 1740911 Danya Wolf Elva Hunter

LD

360-708-8294 360-202-3086

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 2045422

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