Real Estate Weekly September 17, 2021

INSIDE

This Issue CONDOS MAKE A COMEBACK PAGE 5

TOSS OR SAVE? FACTOR STORAGE COSTS IN EQUATION PAGE 7 CLASSIFIEDS PAGE 7

SEPT. 17-23, 2021

TABLE OF CONTENTS

INSIDE PAGE

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Condos make a comeback........................................P5 Q&A Ask Our Broker.......................................................................P6

Toss Or Save? Factor Storage Costs in Equation............................................................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.

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September 17, 2021

STAT

2.92 The average mortgage rate Americans were given in the month of July, 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

www.npsar.realtor

7658 S SUPERIOR AVE, CONCRETE

$399,000

Hablar Alto - Detén la Discriminación 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



WINDERMERE REAL ESTATE/NO. CASCADES 360-856-4901 • www.windermereskagit.com

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.

September 17, 2021

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TAHLIA HONEA 360-333-5815

NIKKI GANSKE 360-941-8999

Rare opportunity for a new, spacious 3-bedroom, 2-full bathroom rambler in the heart of a charming North Cascades town. This bright & airy home is thoughtfully designed for premium single-level livability, with a spacious covered porch for year-round outdoor living.

The chef’s kitchen features beautiful wood cabinetry, a walk-in pantry, & stylish breakfast bar. Oversized windows and vaulted ceilings create a peaceful oasis beaming with light.

The master suite includes an expansive bedroom, double vanity & walk-in closet. This new neighborhood, walking distance from The Concrete Theatre, Annie’s Pizza, and Silo Park, features three new affordable homes.

Great location for any outdoor enthusiast, with endless recreation on the Skagit River & in the North Cascades. Come see these beautiful new homes at a great value.

MLS #1824406

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

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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a h f n m l l t

m a f n c i September 17, 2021

Condos make a comeback S

By Erik J. Martin ingle-family residences continue to get snatched up fast after multiple bids. Townhomes disappear quickly from the market, too, nowadays. That means many buyer hopefuls are left to consider often their last homeownership option: a condo unit.

Not surprisingly to many, condos are selling above their asking price for the first time in at least nine years, with the typical condo unit being claimed in a record 22 days, September 17, 2021

according to the latest research by Redfin. Across the country, in June the average condo sold for $304,000 (0.7% beyond its asking price, up from 0.4% in May). While the Redfin report notes that this uptick could be attributed to a seasonal pattern (average sale-to-list ratios for condos usually peak by late spring), 2021 represents the first-year condos are selling for higher rather than belowasking price.

“This trend is happening due to high housing prices

and extreme seller’s market conditions dominating most markets,” explains Sara Coers, associate director of the Center for Real Estate Studies at Indiana University’s Kelley School of Business in Indianapolis. “Condos tend to have lower asking prices and may constitute a major part of the affordably priced housing within a given area.”

Consider that the more affordable a home is, the more people compete to own that property. And demand for homes has

risen rapidly over the last year, with a substantial undersupply of units available.

“This supply-demand imbalance has created conditions that have driven up prices to record levels and created a buying frenzy that has exacerbated this existing supply shortage, leaving us with an extreme case of the seller’s market,” Coers continues.

“As home prices rise, the pool of buyers who can afford higher prices shrinks, and more buyers funnel down into lower price

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points. This leads many people to condos – which can be affordable.”

Michele Harrington, COO of First Team Real Estate in Southern California, seconds these sentiments.

“It can be difficult to get your foot in the door of homeownership with today’s high home prices, and a condo is the perfect first-time buyer property,” she explains.

“Their popularity can also be attributed partially to the younger generation’s lifestyle preferences. Millennials tend to gravitate toward walkable communities with more amenities and aren’t necessarily ready to sign up for yard maintenance or fixing a leaky roof. Condos make great starter properties because, while you have to pay your monthly homeowners association fees, you get a whole host of extra low-maintenance perks to make your life easier.”

Geordie Romer, managing broker for Windermere Real Estate in Wenatchee, Washington, notes that demand for condos in his market experienced a slight slowdown at the beginning of the pandemic but rocketed higher in the second half of 2020, with that trajectory continuing upward into 2021.

“Condos are mostly making a comeback because a rising tide lifts all boats. Prices on all residential properties in almost every market are going up,” says Romer. “I also expect that downsizers are taking advantage of

a hot market and selling larger homes while replacing them with smaller condos.”

Romer adds that condos make a great choice for first-time buyers as well as downsizers and anyone seeking to get away from home maintenance chores.

But it’s crucial to do your homework before committing to a condo.

“Look closely into the financial reserves of the condo association, and be on the lookout for future assessment increases.

Condos with low monthly fees might have a large assessment coming to make up for lack of reserves,” cautions Romer.

Additionally, be sure to select a condo that has the amenities you value.

“Picking a condo with reasonable association fees as well as having a backyard, in-unit laundry, and shared community amenities like a pool is important to many buyers and families,” suggests Donald Olhausen Jr., a San Diegobased real estate agent and investor.

He believes condo demand and prices likely won’t be coming down anytime soon.

“This trend toward condos will continue as long as there is pressure on the housing market. Condos are appreciating in value in a similar fashion to traditional homes,” Olhausen says. “And as long as interest rates remain low, coupled with a shortage of inventory, condos will continue to sell above asking price.”

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What makes you a “first-time buyer”?

Question:

I met with a mortgage loan officer and was told that I qualify for first-time buyer financing. How is that possible? My ex-husband and I owned a home before our divorce. Is the lender doing something shady?

Answer:

It sure sounds as though someone who has owned a house before cannot possibly be a “first-time” home buyer, but that’s not the case. HUD, for example, has broader definitions of the term.

An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers).

A single parent who has only owned with a former spouse while married.

An individual who is a displaced homemaker and has only owned with a spouse.

An individual who has only owned a principal residence is not permanently affixed to a permanent foundation in accordance with applicable regulations.

An individual who has only owned a property that was not in compliance with state, local, or model

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Q&A

ASK OUR BROKER

By Peter G. Miller

building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.

Many loan programs have similar first-time definitions. Speak with your loan officer to see if you qualify as a first-time homebuyer. If yes, such a designation can be helpful.

In general terms, first-time buyers typically finance with mortgages that require little or nothing down such as loans backed by the FHA (3.5% down), VA (0% down), and USDA (0% down) programs. Other loans with 3% down include Fannie Mae’s HomeReady loan, and Freddie Mac’s HomePossible program.

While loans with little down are available to a wide variety of borrowers and not just first-timers, the situation with down payment assistance can be different. Down-payment assistance programs are often aimed at first-time purchasers.

Many first-time assistance programs are localized. You can search for them by ZIP code at DownPaymentResource.com. In addition, there are programs available for those with military service or who work in education, law enforcement, healthcare, or firefighting. There are also programs for those with

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disabilities.

Why are there special programs for first-time homebuyers? The basic answer is that first-timers are crucial to the real estate market.

When first-time purchasers come into the marketplace, they typically buy lower-cost, entry-level homes. Such purchasers are important because they allow the owners of those entry-level properties to sell at a fair market value. Such sellers often leave closing with considerable cash because home values increased and loan balances were reduced.

In addition, with higher values, down payments are effectively returned to the owner in a sale situation.

What do such happy sellers do with their money?

Typically, they become buyers who go out and buy more expensive property. What do the sellers of the more expensive homes do? They repeat the cycle and buy replacement real estate of their own.

In effect, when there are lots of first-time buyers, real estate demand broadly increases as existing owners sell and relocate. When there are few first-time buyers, the market slows and demand declines.

Email your real estate questions to Mr. Miller at

peter@ctwfeatures.com.

September 17, 2021

Real Estate Weekly RENTALS Houses for Rent -Furnished

NEW TODAY 1-bedroom, 1 1/2 bath, water front cabin at Big Lake. Available now through June 1st, 2022.

Includes electric heat, A/C,stove,refrigerator, microwave, washer, dryer.

Plus utilities of sewer, water, electricity, and internet.1200 per month and a $800 security deposit.

Non-smokers, pet on approval. (360)-856-1105.

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Toss Or Save? Factor Storage Costs in Equation

By Marilyn Kennedy Melia

we can’t part with, the storage business held up reasonven when Americans are ably well during the pandemic staying home, their stuff because “a lot of people had to is going places. make room at home for home Despite a big supply of newly offices and classrooms for their built self-storage units and kids, which meant putting a big drop in the number of items in storage,” says AlexanAmericans moving to a new der Harris, editor of Sparefoot. home during the first half of com, a site for storage rate 2020, research firm Yardi Macomparisons. trix finds that rental rates held Slightly more than 10 percent steady. And, by April of this of U.S. households use storage, year rates were up about eight according to the trade group, percent year-over-year for non- Self-Storage Association. climate-controlled units.

Rental prices vary according While moving is a major to the size of the storage units, impetus for stashing stuff that whether they are climate con-

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September 17, 2021

trolled, and by location.

“We see the national average of a 10 X 10 temperature-controlled unit at $155 a month, and a 10 X 10 non-temperature-controlled unit at $124 per month,” reports Mike Blackett, spokesperson for the Self Storage Association.

One way to save is to try to initiate storage outside of the peak moving season, which is May through September, says Harris, adding that “customers should ask about senior, teacher, or military discounts.”

Prices vary, even within the same market area, so compare

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rates at all facilities within your driving range. Perhaps the best way to save, though, is not to store anything unnecessarily.

“My favorite litmus test is to ask yourself, ‘Do you love it? Is it useful? Do you find it beautiful,’” relates Barry Izsak, owner of Packingmovingunpacking. com.

Any ‘No’ answers to any of the above questions mean that the item isn’t likely a storage candidate, concludes Izsak.

7

1203 e SecTioN ST, MT 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 MLS# 1810956 360-708-8294

118 E ORANGE AVE, BURLINGTON

$399,990

NEW PRICE!!! Great opportunity for a small business. Includes commercial kitchen & other restaurant equipment. Great space out back for outdoor dining/drive-thru. There is parking and storage. It’s located just one door from one of the busiest corners in Burlington; E Orange Ave & Burlington Blvd.

Upstairs there is 1BR/.75BA and den. The possibilities are endless in this fast growing community.

MLS# 1780005 Sherry Ruderman Carla Fischer Call Sherry with any questions.

360-982-0010 360-540-1552

63377 HigH ridge dr. #d3 l115,

$47,000

24329 Wicker road, Sedro-Woolley $250,000

Cozy home with 1 bed and ¾ bath on a 1/3 acre lot.

A work in progress- there has been some updating and remodeling. Roof new in 2017. Foundation new in 2009. Extended foundation on front of home is ready for your expansion plans. Tankless water heater. Gas free-standing stove, gas range. Original Fir floors, some newer laminate flooring in kitchen. The ½ bath in outbuilding opens possibilities for guest cottage or hobby room. Carla Fischer 360-982-0010 MLS#1828933

Sherry Ruderman

360-540-1552

JoAnn Boudreau (360) 391-0746

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

$1,200,000 2XXX UrBaN aVeNUe, MoUNT VerNoN $600,000 819 N 18TH, MoUNT VerNoN $549,900

Eighty (80) acres with development potential of multiple building tracts. 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 home site/pasture land along the southwesterly edge of the property. Shown by appointment.

Danya Wolf MLS# 1568051 360-708-8294

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

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

44867 kla-Ha-Nie Trail # 2a23, lake Tyee $69,000 64233lookoUT MoUNTaiN loop#1-179,MarBleMoUNT $46,000 4968 kUllaH Trail #2d-15, lake Tyee $179,000 64193 e caScade driVe, MarBleMoUNT NeW price!

Very clean and well maintained 1 bed park model located in Lake Tyee. This unit comes furnished with a covered deck and a dog run in the back. The lot is a 2 minute walk to the lake and a few minutes more to swimming pools, hot tubs, mini-golf and tennis courts. This is a great place for your family getaway, serenity from the city or part of your retirement plan. Turn key so don’t wait ! Recreational for any 210days/year and dues Carla Fischer Sherry Ruderman 360-982-0010 360-540-1552 $162/mo. MLS#1834745

Huge front porch and large fire pit when it’s safe again! Room for large garden! Best, most beautiful hiking around and White water kayak or rafting! Worth every penny and then some.

MLS#1829367

41546 SoUTH SkagiT HigHWay, FiNNey creek

45249 NeSika Trail #2d33, lake Tyee

$80,000

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.

MLS# 1754582

H ST rd., BlaiNe

WaTerFroNT Beautiful 1.71 acres of amazing recreational waterfront property.

Enjoy swimming, walking on the beach or just watching the wildlife.

Carla Fischer MLS# 1800415 360-982-0010

Juanita Bunch 360-941-5530

Carla Fischer (360) 982-0010

Elva Hunter (360) 202-3086

Partial off grid cabin in Cascade River Park. Recreational lot or Full Time living! It’s really 2 cabins you can use or make it one! Water, Septic, Propane ready, Inverter setup, bring your batteries. 2 small extra outbuildings, one for generator other for whatever. Also, 3rd large tall log framed lean to structure for your ORVs, wood for the wood stove in the cabin.

Other cabin is set up for propane.

Carla Fischer

360-982-0010

Sherry Ruderman

360-540-1552

$59,500

Fantastic location in the foothills of the North Cascades!

This great location and fantastic park model at Lake Tyee is ready for you. Enjoy hiking, fishing, and other amenities in the resort or cozy up with hot chocolate while you relax in your pj’s away from the hustle and bustle of the city. This is the perfect spot to get away. Monthly dues $162 includes water, septic and garbage. Set up your appointment today.

MLS# 1813269 Carla Fischer Sherry Ruderman 360-982-0010 360-540-1552 Call Sherry with any questions.

John Hunter (360) 202-3086

Suzanne Jenkins (360) 941-2983

360.424.0300

Peace and tranquillity is what you will experience at this location. With views of the mountains, hillsides and the lake, you’ll never want to be anywhere else. The huge covered deck is where you’ll want to be when you have your morning cup of coffee, overlooking these gorgeous views.

Come and get away at this quiet and serene spot or bring your family and friends to enjoy and make lasting memories at Lake Tyee. Monthly dues $162/ mo with 210 days/year use. Carla Fischer Sherry Ruderman 360-982-0010 360-540-1552 MLS#1836833

$179,000

Peace and serenity await you at this location in Cascade River Park. Be soothed by the sounds of the river and breathe in deeply the fresh forest air. P/T or F/T living at this spot. There’s plenty of room for friends or family to bring their trailer to the covered lot behind the well-maintained 1 bedroom manufactured home. Outbuildings, septic, solar; all you need to experience comfort in the gorgeous setting Carla Fischer Sherry Ruderman of the Cascades. MLS#1836792 360-982-0010

360-540-1552

Meet Suzanne Jenkins...

She’s lived here with her husband, Milton, for 35+ years. They live on a small ranch where they have raised two daughters. Suzanne has been in real estate for 30+ years helping buyers and sellers in Skagit and Whatcom counties.

Suzanne wants to help maintain the quality of life here and preserve Skagit Valley’s and Whatcom county’s natural beauty. She has also worked to improve our community by involvement in church, school, and citizenship activities. ◊ Suzanne continues her education & is rewarded • CRS– Certified Residential Specialist • GRI - Graduate Real Estate Institute • ABR - Accredited Buyer Representative I am ALWAYS available!

• Certified e-Pro Internet Professional I will work hard for you!

• Silver Award of Excellence • Gold Award of Excellence • GREEN– Sustainable Property Designation • CBA– Commercial Brokers Association

Phil LaMay (360) 840-3086

Russ Lanker (360) 708-1117

Kim Schlimmer (360) 661-7670

Brett Tacker (360) 840-7931

Suzanne Jenkins (360) 941-2983

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

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 131450-1

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