Real Estate Weekly November 26, 2021

INSIDE

This Issue GET LOAN HELP FAST WITH A MORTGAGE RECAST PAGE 5 MIXING WORK AND PLEASURE: GROWING POPULARITY OF SHORT-TERM RENTALS PAGE 7 CLASSIFIEDS PAGE 7

NOV. 26 - DEC 2, 2021

TABLE OF CONTENTS Get Loan Help Fast with a Mortgage Recast.........................................................P5 Q&A Ask Our Broker.......................................................................P6

Mixing Work And Pleasure: Growing Popularity Of Short-Term Rentals........................................................P7 Classifieds............................................................................P7

INSIDE PAGE

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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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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.

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November 26, 2021

STAT Real Estate Stat

800,000 The rough number of new home sales in the United States in the month of September 2021.

Source: National Association of Realtors

NORTH PUGET SOUND ASSOCIATION of REALTORS® 525 East College Way, Ste J, Mount Vernon, WA 98273

Tel. 360-416-4902

FEATURED REALToR: MEET CARLA FiSChER

www.npsar.realtor

Skagit Tradition Realty LLC 3780 E. College Way Mount Vernon, WA 360-424-0300

Hablar Alto - Detén la Discriminación

www.skagittraditionrealty.com

Que es discriminación de vivienda? La ley de discriminación del estado de Washington protege a personas contra acciones negativas que ocurren por la clase protegida de la persona. En La Compra Y Venta de Vivienda: Nadie puedo tomar las siguientes acciones basado a clase protegida: 

Negar participación en una transacción



Negar negociaciones de Vivienda



Establecer diferentes términos y condiciones o privilegios para comprar o alquiler de vivienda



Proporcionar diferentes servicios o instilaciones de vivienda



Negar que la vivienda está disponible para inspección, venta o alquiler ·Hacer que una vivienda no esté disponible



Persuadir a los dueños de vender o alquilar el espacio por beneficio propio Anunciar o declarar algo que indique limitaciones o preferencias basado en clase protegida

Ver más en: https://www.hum.wa.gov/fair-housing 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 26, 2021

Carla lives and works in Skagit Valley, where she owns a home complete with dogs, cats, and goats. Her love of animals led her to be a volunteer with N.O.A.H. Animal Shelter, where she spends some of her free time working with the dogs waiting for adoption.

Carla enjoys interacting with both buyers and sellers. She is not limited to the Skagit Valley however, choosing to help clients in Whatcom, Island and Snohomish Counties, even traveling to other counties as well to find that perfect property. She has achieved her designation as a Seniors Real Estate Specialist, learning the special needs and questions of buyers and sellers 50+, making her the right choice as your Realtor. Whatever your Real Estate needs, first time homebuyer, senior or investor, Carla can guide you through each step of the process.

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Carla Fischer (360) 982-0010

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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!

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t b y m

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

p y e d M B l

m t l A m November 26, 2021

faster than refinancing to a lower rate,” she adds.

Note that recasting has its cons along with the pros.

“Unlike refinancing, you can’t reduce your interest rate through a recast. Hence, with rates at historic lows right now, a mortgage recast may not make sense for certain borrowers,” cautions Michele Anapol, a Boca Raton, Florida-based home loan officer with Jet Direct Mortgage.

Additionally, not all lenders offer the option to recast, not all mortgages are eligible for it, and your lender will charge a fee for the service.

To qualify for a mortgage recast, your loan must not be a government-backed mortgage, like an FHA, USDA, or VA loan; most jumbo loans don’t apply, either.

“If you want to change the terms of these types of mortgages, you’ll need to refinance your loan instead,” Mazzara recommends.

Furthermore, you must be able to pay the minimum principal reduction amount as required by your lender; typically, that means your the sale on your old house is or bonus, and decide to both the principal and inter- Frederick, Maryland.

By Erik J. Martin lump sum must be at least incomplete before you close apply a significant portion Recasting is appealing to hen the fish aren’t est,” she says. “While recast$5,000 or a certain perof it toward your mortgage on the new one? When you nibbling on your ing will lower your principal, homeowners as a relatively centage of your principal. line, it’s probably your interest rate and the apply the proceeds from the principal, you’ll reduce the easy and inexpensive way Coming up with this kind of time to recast. The same can monthly payment will stay amount you owe,” Mazzara sale of your old house to to lower your remaining money from scratch can be be true of a mortgage loan if the same. But your loan will balance without having to continues. your new one, a mortgage difficult. you’re angling to lower your typically be paid off faster Another impetus for recastrequalify for a new loan via a recast can help you reduce Also, you may need to have ing is when mortgage rates monthly payments. the balance owed, therefore refinance. because you’ll owe less.” accrued a particular amount A mortgage recast involves helping you pay off your new increase.

“Assuming you have a The advantage of a recast is of equity before you are eli“Say you’d like to refinance gible for a recast, depending paying a lump sum toward that you can pay down your low-interest rate, a recast also home that much quicker,” your mortgage to lower your on the lender. your loan’s principal balance, loan more quickly. allows you to keep that rate,” Mazzara says.

Then, once you receive the payments, but rates have explains Tabitha Mazzara, “If you were to simply pay says Mazzara.

Before opting for a recast, risen above what they were funds from the sale of your director of operations for The most common time down your loan with a lump consider your financial needs MBANC, a Manhattan that many pursue a recast is old home, “a lump sum pay- when you originally took out carefully. sum payment, but without ment can be made and your your loan. Fortunately, if you “Don’t commit more money when they purchase a new Beach, California-based recasting, your monthly have equity in your home, monthly payment will be home before selling their lender. payment would remain the than you might end up needyou can keep your current lowered,” adds Trott. existing home.

“After you make this paysame. But you would pay ing in the immediate future.

A mortgage recast can be a interest rate and continue to With a recast, you’ll lose “When you sell your house ment, your lender re-amorless interest over the life of good idea if you’ve come into pay down your mortgage bal- access to the cash committed to purchase another, you tizes your loan to reflect the your loan as well as pay off ance. The recast will change to your home equity, thereby some money recently. your loan sooner,” notes Tom can typically use the equity lower balance that results. your amortization and allow reducing your liquidity,” says “If you receive a large cash from the sale toward your Amortization is a fixed repay- Trott, branch manager for you to pay off your home sum, like an inheritance new mortgage. But what if ment schedule that includes Embrace Home Loans in Mazzara.

Get Loan Help Fast with a Mortgage Recast W

November 26, 2021

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What Shows up on Your Tenant Screening Report?

Question:

We want to rent a nearby home, and the manager will qualify us based on a tenant screening report.

What is this report, and how do we know that it’s right?

Answer:

If you are buying a home with a mortgage, the lender will want to review such things as your credit report, credit score, financial accounts, employment status, and tax returns. In a similar sense, property owners want to assure that tenants can pay their monthly rent on time and in full and that they will take good care of the property. Given that an individual property can be valued at hundreds of thousands of dollars, such concern is not unreasonable.

With your permission, landlords can get much information by contacting employers and current landlords. In addition, many will often obtain a tenant screening report.

According to the Consumer Financial Protection Bureau (CFPB), a tenant screening report may

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consist of any or all of the following elements: n Credit reports. n Rental history information, including any eviction actions and lawsuits. n Employment verification. n Criminal history. n Sex offender registries. n A check of the national terrorist watchlist. n A risk score or recommendation based on criteria selected by the landlord.

In some cases, landlords charge an extra application fee for these reports. However, the real issue is not so much their cost, it’s that they may include factual errors and out-of-date items that unfairly hurt your chances to rent.

The good news is that there are applicant protections. According to the CFPB, “if your rental application is rejected due to information in a tenant screening report, this is considered an ‘adverse action.’ Landlords are required to inform you of this ‘adverse action’ and you have the right to request a free copy of the report from the tenant screening company the landlord used.”

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Q&A

ASK OUR BROKER

By Peter G. Miller

As we mention with some frequency, one of the best ways to protect your credit standing is to review your credit reports, the basis for credit scores. The three national credit reporting agencies (CRAs) — TransUnion, Experian, and Equifax — stepped up because of the pandemic and are making their reports available for free each week until April 20, 2022. To get your copies, go to AnnualCreditReport. com, a site established by the federal government.

As you go through each report, check to see that all information is correct, including names, addresses, and birthdays. Then review the listed accounts. Are they yours? Are they correct? Are there any out-of-date negative items? Items are generally out-of-date after seven years, but in some cases — such as a Chapter 7 bankruptcy — items can remain on the system longer.

If something is wrong, contact the credit reporting agency by phone or email, and get it straightened out before it undermines your ability to rent.

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

November 26, 2021

Mixing Work And Pleasure:

Growing Popularity Of Short-Term Rentals

By Marilyn Kennedy Melia

years and “greatly accelerated over the past 18 months,” says Jon Slavet, CEO of Sentral, a company operating he pandemic upended Americans’ relationships furnished and some unfurnished. with their homes. Many, forced to stay home, In the overall apartment market, the percentage of decided that they didn’t like what they had, and one and two-bedroom leases available under twelve looked to put down roots in a more comfortable home. months is very low. These apartments also tend to be Others went in the opposite direction, not wanting to unfurnished, says Brian Carberry of Rent.com. For call any place home for long. instance, he explains that the share of short-term leases Now, companies like Sentral, Landing, Mint House is under five percent in Kansas City, MO; Tucson, AZ; Inc., and Sonder Corp., are rolling out furnished apart- Indianapolis, IN; and Orlando, FL. ments with short-term leases – under the traditional 12 Shares are in the double digits in a small minority of month period – to appeal to remote workers who want markets, like Las Vegas, NV, with a 22 percent share, to live in multiple locations during the year. and Greensboro, NC, at 10.5 percent. Many companies Working-from-home has been on the rise in recent already in the short-term space are pushing ahead to

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add more units and are also offering hotel-like options.

Sentral, for instance, offers the option to book an apartment for 29 days or less, and longer-term residents can rent their units when traveling. Landing tenants pay a membership fee that allows transfers between apartments in different locales. Many rental properties geared toward professional “digital nomads” are often relatively high-end and costly.

Home-sharing firms like Airbnb have also seen a big uptick in response to the demand for stays of a few weeks to a few months. An Airbnb spokesman reports that the number of guest reviews mentioning “remote work” or “work remotely” tripled since the pandemic.

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24094 n. weSt View rd, Mount Vernon

$850,000

whalen driVe, Point roBertS

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. West View 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 & spectacular sunsets! MLS# 1848508 Russ Lanker

Magnificent views of Boundary Bay and the mountains!

Enjoy the lights of Vancouver BC, only 45 minutes away!

Less than 20 miles to Vancouver international Airport.

Point Roberts is a quaint community with forests, beaches (close to Maple Beach), and the ocean yet near to all that the big city has to offer. This lot is ready for your dream home; power at the street, water at the street (Point Roberts Danya Wolf (360) 708-8294 Water District). MLS#1863417

(360) 708-1117

700 n reed St #40, Sedro-woolley

$135,000

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 Phil LaMay utility room. Nice decking; generous sized yard with storage building.

Danya Wolf Buyer’s Broker Greenbelt to protect fish and wildlife adjacent to the south of lot. (360) 708-8294 (360) 840-3086 MLS# 1849202

nhn Mountain View rd, Mount Vernon

$115,000

$350,000 2XXX urBan aVenue, Mount Vernon $600,000

20787 BulSon rd, Stanwood

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

$250,000

41546 South Skagit highway, Finney Creek $80,000

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

MLS# 1649968

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

(360) 982-0010

i’m a Seniors real estate Specialist

17180 MeMorial hwy Mount Vernon $415,000

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

JoAnn Boudreau (360) 391-0746

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

Juanita Bunch (360) 941-5530

Carla Fischer (360) 982-0010

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 Danya WolfWolf (SR-536); 620 feet along Avon Allen Road. Danya (360) (360) 708-8294 708-8294 MLS# 1572330

Elva Hunter (360) 202-3086

John Hunter (360) 202-3086

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 YOUR SRES®

Suzanne Jenkins (360) 941-2983

360.424.0300

Phil LaMay (360) 840-3086

Russ Lanker (360) 708-1117

Brett Tacker (360) 840-7931

Carla Fischer

(360) 982-0010

Elva Hunter

(360) 202-3086

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

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 157475-1

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