Real Estate Weekly, November 5, 2021

INSIDE

This Issue

CHECKLIST FOR A FASTER SALE PAGE 5 SENIORS SAVE THEIR HOUSING WEALTH FOR THEIR KIDS PAGE 7 CLASSIFIEDS PAGE 7

NOV. 5-11, 2021

TABLE OF CONTENTS Checklist for a faster sale..........................................P5 Q&A Ask Our Broker.......................................................................P6

Seniors Save Their Housing Wealth for Their Kids....................................................P7 Classifieds............................................................................P7

INSIDE PAGE

5

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.

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.

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

RE-Weekly

November 5, 2021

STAT Real Estate Stat

$363,800 The median price of an existing single-family home at the end of August 2021. This is a $2,800 drop from the previous month.

Source: National Association of Realtors

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.

5511 PARK RIDGE PLACE, SEDRO-WOOLLEY

WINDERMERE REAL ESTATE/SKAGIT VALLEY 360-424-4901 • www.windermereskagit.com

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.

November 5, 2021

$949,500

RE-Weekly

DICK NORD 360-661-6529

CORY KIEHN 360-441-1760

Pristine equestrian property on 5 acres has 24x36 barn w/ 2 12x12 matted stalls, heated tack room, & dry hay storage. Mud free paddock, year-round outdoor arena, & upper pasture all w/extensive French drains that empty into year-round pond.

Cross fenced, 3 pasture system w/12x16 run-in shelter. Pull thru drive for trailer & RV. Formal yard & garden manicured w/8 fruit trees, grape vines, garden shed, & more. Total privacy in & out of this custom home w/the expansive covered front deck overlooking sunsets, horses, & pasture. Inside is tile & wood floors, solid wood cabinets, custom front door, all appliances, vaulted ceilings, & efficient propane stove. Remodeled master bath, huge laundry rm, & 2+ garage. Minutes from I-5 & Old 99. MLS #1852022

145392-1

3

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!

T

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

a l r l c h n w

k a p p a a s

n d 4

RE-Weekly

November 5, 2021

up for a better negotiating position and prevent adverse surprises from souring things later during a transaction,” says David North, designated broker/owner of Redmond, Washington-based Realtrua.

Order a preliminary title or and make it available to buyers before they make any offers. This can allay buyers’ possible fears about title or ownership.

Have your home professionally photographed (usually arranged by your real estate agent). “High-quality photography conveys professionalism that not only helps present the home in its best light but sets an expectation for buyers to make their best offers without playing games,” North insists.

Try to list your home in the warmer months, if possible.

“Statistically speaking, spring and summer are the busiest for Realtors and buyers,” adds Guthrie. “Once kids start going back to school and the snow falls, people are more focused on the holidays and their day-today routines.” property remains unsold for Morelle notes.

Ohio, suggests.

Realtor carefully. “Hire an Use descriptive verbiage in On the downside, there 30 days – or even 15 days in Stage your home effectively. your listing. “Insert lots of agent who understands and some markets – the question are a few drawbacks to a has ample experience in your “Work with your real estate adjectives when describing becomes ‘what’s wrong with speedy home sale. One is the local market and is going to agent and consult with a your property – especially it,’ and ‘why doesn’t anybody common reaction of sellers staging professional to, give you honest advice, not adjectives that connect with to think they left money on merely information you want for example, rearrange the want it?’” says Connie Moemotions and help buyers relle, a Realtor with Coldwell the table by not asking for a to hear,” says Phillip Salem, furniture as necessary, add envision themselves living Banker Realty in Atlanta. higher price right from the fresh flowers and new white in your home,” recommends an agent with Compass in “Data show that the greatest start. Another is the possible New York City. fluffy towels, place a chair North. online interest and views are uncertainty of not having a strategically by the fireplace Clean your home inside Price your home appropriwithin the first two weeks of next home to move into. and out thoroughly, declut- with an open book, leave out ately. “This is the number ter as needed (remove any listing a home.”

Nevertheless, the experts a cookbook and a captivating one way to ensure it will sell photographs, memorabilia, What’s more, a quicker sale agree: Strive for a swift sale teapot in the kitchen, and quickly. Don’t price your or other personal items), and insert candles and flowers means less hassle and avoid- whenever possible, which home exclusively based on ing the inconvenience of make minor cosmetic imshould result in a higher in the bathrooms,” advises the original purchase price, having to maintain a show- sales price and less worry. To provements via repainting/ Morelle. home improvements, money ready home for prospective improve your odds of mak- redecorating. “Your home Consider having a profesneeded, or other factors. ing a deal more quickly and should look clean and invit- sional pre-inspection done. purchasers to view at the Instead, collaborate with a for greater profit, follow this ing, showing off its unique “Learn what issues your drop of a hat, she adds. trusted local agent and trust “And a faster sale usually in- checklist of suggestions from features without looking too home has upfront, even if their expertise in the market vites one or more offers with the pros: lived-in,” Amy Guthrie, a you don’t plan to fix any de- when pricing your property,” better prices and terms,” Choose a real estate agent/ real estate agent in Canton, fects found. This can set you Guthrie says.

Checklist for a faster sale

Follow these recommended tips to sell your home more quickly and for higher money

By Erik J. Martin here is a need for speed when it comes to selling a home. That’s because the longer your residence for sale remains on the market, the lower the chances that you’ll command a higher price and hold most of the cards in the negotiation leverage game with buyers.

Of course, there’s another key reason why you should aim to unload your property punctually: Doing so will prevent heartburn, headaches, and serious stress about why your home hasn’t sold yet.

“Time on the market is never a seller’s friend. In today’s real estate climate, if a

T

November 5, 2021

RE-Weekly

5

Will sellers accept offers with federal assistance?

Question:

We want to buy a home with little or nothing down.

We qualify for a VA mortgage, and will also consider FHA financing. The broker says some sellers prefer conventional financing and will not accept offers that involve federal insurance. Is this a common problem?

Answer:

Right now, with little inventory, many listings receive multiple offers and sellers have their pick.

Many properties are selling at or above listing prices and sellers can often get all-cash offers, meaning they don’t have to worry about buyers qualifying with a lender.

A loan-type survey published in April by the National Association of Realtors (NAR), found that top seller worries include stricter home inspection requirements, home appraisal contingencies, the possibility that the home will not appraise, offers with little down, and longer closing times.

Seller worries are influencing buyer offers. In June, NAR reported that “among contract contingencies waived by the buyers, the most common contingency

6

that buyers waived was the appraisal contingency (28%) followed by the inspection contingency (25%).”

In effect, sellers sometimes don’t like the very protections that buyers should expect when making the biggest purchase of a lifetime. And buyers are often willing to waive important contingencies to buy a home at a time when bidding wars are common and inventory is low.

The Urban Institute explains that the “flat-out rejection of buyers seeking government-backed loans disadvantages households with lower incomes, lower credit scores, and less wealth, many of whom are people of color. As a result, it is more difficult for these borrowers to compete for homes, which exacerbates the racial homeownership gap.”

Millions of borrowers use government-backed real estate financing because such loans are their best options, financing with a proven record, no gotcha clauses, and little or nothing down. The consumer protections in the VA and FHA programs have value, and financing without them increases risk for buyers.

And yet, figures from the Urban Institute also show that market share for both the FHA and VA programs

RE-Weekly

Q&A

ASK OUR BROKER

By Peter G. Miller has declined. Is this simply because both programs have so many borrower protections, or are other factors at work?

Most likely, there are several factors that have pushed down the use of federal programs.

First, there’s competition. Conforming financing from Fannie Mae and Freddie Mac is now available with 3% down.

Second, the FHA loan limit is likely holding down the use of that program in areas with fast-rising home prices. Before the pandemic, the median price of an existing home was $274,500 in December 2019 according to NAR. By August 2021 that same typical property was priced at $356,700 -- an increase of $82,200.

Third, there’s a tremendous inventory shortage.

We have lots of buyers and relatively few available properties. Sellers have substantial leverage.

Redfin reported that 59% of its August transactions involved two or more bids. The era of the bidding war has eased up, but it’s still with us -- and it’s likely to continue for some time.

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

November 5, 2021

RE-Weekly

CLASSIFIEDS RENTALS Apartments Unfurnished

NEW TODAY Alpine Ridge Retirement Apartments in MV is accepting applications for 2 Bdrm apts. Income limits apply. 360-424-9622 for more info.

R RE-Weekly

Seniors Save Their Housing Wealth for Their Kids

By Marilyn Kennedy Melia

express a strong desire to leave an inheritance of at least $10,000. These owners are much Now and in the years ahead, Baby Boom- less likely to sell their homes before they die ers and older Americans are passing down or take out an equity loan if they are cashtrillions of dollars to their heirs, according to strapped.

Federal Reserve data.

Already, the big jump in home prices has And it’s not just those with surnames like led to housing riches, with $8 trillion held by Buffett, Bloomberg and Bezos who stand to those 70 and older at the end of 2020. receive money when wills are read.

“Economists have long been puzzled on If your parent or grandparent is a homewhy so many older Americans that were livowner, there’s a good chance you’ll receive ing at or near the poverty line die as homean inheritance, though maybe not in the six owners,” says Michael Eriksen, associate professor at the University of Cincinnati and or seven-figure realm.

A recent study from the Center for Retire- co-author of the study. ment Research {CRR} at Boston College The study points desire to leave their heirs finds a large share of senior homeowners their housing wealth as a significant reason November 5, 2021

RE-Weekly

why older owners don’t take their housing wealth for their own expenditures.

The easiest way for older, cash-poor owners to take equity “is through a reverse mortgage that provides either an upfront lump-sum payment or annuity,” explains Eriksen. Those funds are repaid when the house is sold or from the owner’s estate after his death.

But in this and related studies, there is evidence that an adult’s child co-resides with his aging parent. “This potentially solves the cash-poor, house-rich issue as an adult income earner can alleviate budget constraints, provide a level of in-home care to prevent feared institutionalization, and enable an easier transfer of housing equity after death.”

7

1016 JaMeSoN St, Sedro woolley

$390,000

41546 South Skagit highway, FiNNey Creek $80,000

700 N REED ST #40, SEDRO-WOOLLEY

$135,000

oPEn HoUSE, SATURDAy, novEMBER 6TH, noon -2PM oPEn HoUSE, SATURDAy, novEMBER 6TH, 11-1PM Well cared for home with lots of personality, warmth, and welcoming ambiance. The interior offers a cheery living room; a great kitchen area with lots of cabinets, counter space, and a pantry. There are two bedrooms on the main level; and the upstairs offers both the master bedroom, extra storage; and a bonus room. Generous sized yard has a garage with shop space, a second level loft area; plus a separate storage building. There is access to the back yard via an alley, with the ability to park an extra vehicle. There is also garden Danya Wolf (360) 708-8294 space, fruit trees; and room for lawn chairs, relaxing, and yard games. MLS#1860262 24094 N. weSt View rd, MouNt VerNoN

$850,000

After 60+ yrs this Big Lake prime property on the sunny side of the lake can now be yours. Approx. 80 ft of no-bank water front just minutes away from a nine-hole golf course. Property features a pier connected to a floating dock perfect for mooring your boat & watercraft.The approx. 4,500 SF of property bisected by N.WestView Rd has an access road and additional possibilities for your needs. Besides the 2 bed 1 bath manuf. home the lot has a detached 750 SF garage/shop, out buildings and RV parking. And the large covered deck is perfect for watching eagles, seasonal waterfowl & Russ Lanker (360) 708-1117 spectacular sunsets! MLS# 1848508

Located just outside the Mount Vernon City limits, this wooded 1 acre plus lot could be a building site for a stick built, modular, or manufactured home, with plenty of room. Tract has been surveyed (LeGro and Associates) and wetlands have been delineated (Oscar Graham and Pat Bunting).

Power and PUD water are available at the street.

MLS# 1861233

Danya Wolf

(360) 708-8294

$435,000 oPEn HoUSE, SUnDAy, novEMBER 7TH, 11-1PM

Updated 3-bedroom 2 bath open floor plan rambler. This home offers a lovely kitchen, Pergo hardwoods. Fully fenced back yard: trex decking, storage building; spacious yard. RV parking, newer roof; vinyl windows. MLS#1855470

Patricia Box Office Manager O: (360) 424-0300 C: (360) 941-9186

(360) 982-0010

NhN MouNtaiN View rd, MouNt VerNoN $115,000 20787 BulSoN rd, StaNwood

10504 56th aVe Ne, MarySVille

JoAnn Boudreau (360) 391-0746

WATERFRonT Beautiful 1.71 acres of amazing recreational waterfront property. Enjoy swimming, walking on the beach or just watching the wildlife.

MLS# 1800415 Carla Fischer

Juanita Bunch (360) 941-5530

Carla Fischer Buyer’s Broker

Danya Wolf

(360) 982-0010 (360) 708-8294

Carla Fischer (360) 982-0010

Elva Hunter (360) 202-3086

$350,000

Beautiful wooded 4.98 acres situated on south side of Snohomish County/Skagit County line. Power is in street.

Solar power is also possible. Adjacent property to the east of Subject Property is fenced, open field. Zoning allows for one building site. StanwoodCamano School District; and just ten minutes to I-5. Great country living yet convenient for Danya Wolf (360) 708-8294 commuting. MLS# 1841822

2121 Market Street. MouNt VerNoN

P

iN eNd

ea gF

SiB

819 N 18th, MouNt VerNoN

Home on the hill, close to shopping, schools and medical. This home features 6 bedrooms and 2 baths with 2 additional bonus bedrooms in the garage (easily convert back to a 2-car garage). Plenty of parking, nice size yard with mature landscaping.

Danya Wolf MLS# 1811049 (360) 708-8294

1203 e SeCtioN, MouNt VerNoN

$599,900

Contemporary 2 story home offers 7 bedrooms plus a bonus room! Open floor plan, spacious kitchen, 3.5 baths, recessed lighting and skylights. Spacious covered porch for relaxing before, after, or instead of work. Located in a desirable neighborhood, close to schools, shopping, medical and easy commute to I-5.

Danya Wolf (360) 708-8294 MLS# 1810956

i’m a Seniors real estate Specialist

y ilit

Suzanne Jenkins (360) 941-2983

$549,900

$150,000

Every transition is an opportunity,

Sol

d

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

Custom build your commercial enterprise: 13,361 square foot commercial tract (two lots) zoned C-2. Preliminary sketch for 5,280 square foot retail building plus 24 parking spots. Great location near recreation center; major grocery store; hotel; restaurants; offices; health club; house and farm supply stores; gas stations; banks; and I-5. New price reflects Danya Wolf Skagit County tax assessment value. MLS# 1848626 (360) 708-8294

John Hunter (360) 202-3086

Beautifully remodeled 1995 Nashua 52 x 28 doublewide manufactured home: 1350 square feet offers amazing kitchen including range, refrigerator, and dishwasher; a multitude of beautiful cabinets; pantry; and lots of counter space; formal dining room; spacious living room; three bedrooms and 2 full baths. Master suite offers walk in closet; master bath offers double sinks and tub for relaxing plus separate shower. Separate utility room. Nice decking; generous sized yard with storage building. Greenbelt Phil LaMay to protect fish and wildlife adjacent to the south of lot.

Danya Wolf Buyer’s Broker (360) 708-8294 (360) 840-3086 MLS# 1849202

Arlington Highlands! Just 7 days! Yes friends...I’m still working for you! Thinking of selling soon? We need to talk! Call today!

Phil LaMay (360) 840-3086

360.424.0300

Russ Lanker (360) 708-1117

and the expertise you deserve. We are pleased to be YOUR SRES®

Carla Fischer

Phil LaMay (360) 840-3086

Kim Schlimmer (360) 661-7670

(360) 982-0010

Brett Tacker (360) 840-7931

Elva Hunter

(360) 202-3086

Danya Wolf Designated Broker/ Owner (360) 708-8294

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 146442-1

8

RE-Weekly

November 5, 2021