Real Estate Weekly September 3, 2021

INSIDE

This Issue

A SHORT COMMUTE MAY NOT BE AS HIGH ON BUYERS’ WISH LISTS PAGE 5 RENTERS CAUGHT IN PRICE SPIRALS HAVE LIMITED OPTIONS PAGE 7 CLASSIFIEDS PAGE 7

SEPT. 3-9, 2021

TABLE OF CONTENTS A short commute may not be as high on buyers’ wish lists .........................................P5

INSIDE PAGE

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Q&A Ask Our Broker.......................................................................P6

Renters Caught in Price Spirals Have Limited Options..................................................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 3, 2021

STAT Real Estate Stat

$359,900 The current median home price at the end of August 2021.

Source: National Association of Realtors

FeaTUred HoMe FroM coVer:

Skagit Tradition realty llc 3780 e. college Way Mount Vernon, Wa 360-424-0300 www.skagittraditionrealty.com

$250,000

Carla Fischer

360-982-0010

Patricia Box

360-941-9186 Buyers Agent

Open House, Saturday, Sept. 4, 11AM-2PM 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.

MLS#1828933 September 3, 2021

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126950-1

24329 Wicker road, Sedro-Woolley

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

w h c W s i s h r p t p

p f o September 3, 2021

side, California, is that buyers are going where housing is more affordable, increasingly abandoning job centers that are too expensive.

“For more than a year, buyers have been looking for more private space and accepting higher commutes, if necessary. With home prices continuing to climb, many also have no choice but to go further out,” explains Washington. “Additionally, because of the pandemic, many people want a yard, more space for kids, and other private features that make them feel safe and comfortable.”

Those desires mesh with the Zillow finding that larger homes are also more in demand.

“Bigger homes are more desirable because they give individuals a larger safe space. People want to exercise in a home, have their kids play in their own yard, enjoy a pool, and relish private space to get away from everyone else in the house,” Washington adds. remotely from home and expensive than other places Landings Company, the “A shorter commute isn’t Not everyone has de-emdon’t plan on returning to a in that market. real estate and marketing as preferable among buyers phasized a shorter commute faraway office anytime soon.

Case in point: a home in company for The Landings, a because they are increaswhen shopping for a home, Which begs the question: Detroit boasting a 10-minmaster-planned community ingly working from home. however.

How important is proximute commute is $101,228 near Savannah, Georgia.

It could also be that, due to “Teachers, civil servants, ity to work among home more costly today than it was “Since the pandemic, many the virus that has terrorized firefighters, police officers, shoppers in 2021? Judging in 2019 versus a home in have chosen not to return to the globe, they don’t want to and others will still need to by the results of a recent New York with a 10-minute their office settings. For this live too close to other people commute to a workplace outZillow study, not very. Fresh commute, which is currently reason, many of our homein dense urban settings,” he Zillow research reveals that a $73,673 less expensive than owners are leaving pricey says. “I think there will be a side their home,” says Carol short commute is apparently two years ago, per Zillow. areas to move to warmer and boom in random rural towns Christiansen, Westchester regional director for the a less significant factor for The Zillow report also more affordable locations, in- throughout the nation, as prospective home purchasers. indicates that Americans cluding areas that offer more more people prioritize nature Hudson Gateway Association of Realtors and associate In fact, within many pricey yearn for larger and more af- hospitality and recreational in small communities over broker/manager of McGrath markets, home value growth fordable domiciles during the amenities.” the hustle and bustle of big Realty, Inc. of Mount Kisco, is slowest in areas closest to COVID-19 era.

Leonard Ang, CEO of city living.”

New York. “So for these job centers; the opposite is “These findings are in line iPropertyManagement, an The bottom line, notes occurring in metros where with what we are hearing online resource guide for Khari Washington, a broker clients, a shorter commute is important, as well as affordresidential properties near from our buyers,” says Raoul landlords, tenants, and real and owner of 1st United downtown are usually less Rushin, president of The estate investors, concurs.

Realty & Mortgage in River- ability.”

A short commute may not be as high on buyers’ wish lists

By Erik J. Martin or generations, one of the highest priorities among homebuyers was choosing a residence that hopefully shortened their commute to and from work.

With so many people driving solo in recent decades, seemingly endless construction snafus, and the increasingly high cost of gasoline, car repairs, and public transportation, this penchant for truncated travel times made perfect sense.

But the coronavirus completely changed the paradigm for millions of workers, many of whom continue to work

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What you need to know when refinancing Question:

We are now living in our second home.

With both this house and our last house, we have gotten mortgage financing.

Because of the great appreciation in local prices, we want to refinance our current home. How different is the refinancing process when compared with mortgages used to buy real estate?

Answer:

n Is your equity equal to 20% or more of the property’s fair market value? If yes, you may be able to eliminate the cost of FHA or private mortgage insurance when you refinance. This can produce big monthly savings.

n How old is your current mortgage?

(Lenders want an opportunity to see how you’ve done with the existing mortgage.)

n How much can you borrow? For example, you have a home with a fair market value of $350,000. You also have a $125,000 existing mortgage balance. A lender who requires 20% equity might provide financing worth $155,000 ($350,000 less 20% = $280,000. $280,000 less $125,000 = $155,000).

Whether financing or refinancing, the process is pretty much alike, however, refinancing can be easier because your record is known to lenders. Here are the big issues to consider.

n Is the loan current? n Have you had any late or missed payments during the past six months?

During the past year?

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n How much equity do you have? How much you need depends on the loan program you choose. For instance, with the Fannie Mae HomeReady program, you only need 3% equity.

n What is your credit standing? As always, the higher your credit score, the better.

Many lenders will have a minimum acceptable score, say 580 for FHA

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Q&A

ASK OUR BROKER

By Peter G. Miller

financing and maybe 620 or 640 for other loans. But, lower scores mean higher rates. n Are you refinancing with your current lender? If you have a good credit history, your current lender might provide an incentive to keep your business. n Do you have an FHA, VA, or USDA mortgage? If yes, you may be able to get a “streamline” refinance, a situation where the lender may not be required to verify your income, check your credit, or order an appraisal.

For details and specifics, shop around, speak with loan officers, get to know your refinancing options, and check your credit reports. Until April 20, 2022, free copies of your credit reports are available weekly from Equifax, Experian, and TransUnion at AnnualCreditReport.com.

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

September 3, 2021

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CLASSIFIEDS REAL ESTATE FOR SALE

RENTALS

Houses for Sale

Apartments Unfurnished

NEW TODAY

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

18299 E Chinook Drive, Burlington

$435,000 Open House August 28th, 12-2 August 29th, 12-2

Renters Caught in Price Spirals Have Limited Options

By Marilyn Kennedy Melia

are impacted by what’s happening in the housing market. Nationally idding wars rents on two-bedroom between homeapartments are up 8.7 buyers who are percent, according to paying thousands over listing site Zumper, list price is the real which while much lowestate headline of 2021. er than the twenty-plus But renters haven’t ex- jump in home prices is actly had it easy, either. a relatively “staggering” Nationwide rates on rise, says Jeff Andres, all apartments jumped Zumper spokesperson.

6.3 percent at the end Moreover, some of June 2021 from the empty nesters who may previous year, according have sold their home to Yardi Matrix. Typi- for more than they cally, rises are 2.5 to 3 dreamed, are finding percent, notes Doug it a nightmare to buy Ressler of Yardi. something comparable, Pockets of renters says Ressler, and they’ve

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September 3, 2021

become renters of larger apartments and singlefamily homes.

One-bedroom “Generation Z” adults born after 1996, with freshly minted degrees are helping push up the national averages because they’re moving in big numbers to certain cities with attractive lifestyle features, likes Austin, Wilmington, N.C. and Denver, Ressler says.

One segment - “workforce” rentals, at the lowest price point, have risen just under one percent nationally,

Yardi reports, because this market has been steadier. Those renters caught in a price spiral are making concessions, like downshifting priorities, signing a slightly longer lease than the standard 12 months for a small monthly discount, and young adults taking a roommate, Ressler notes.

Signing a new lease outside of the busiest seasons {which are May-June, SeptemberOctober, and JanuaryFebruary] can help win small price concessions.

Next year prices won’t

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Here is the perfect rambler that you have been looking for in a great Burlington neighborhood!

Easy access to I-5. 1729 Square Feet, 3 spacious bedrooms, 1 full bath and 2 3/4 baths. Updated kitchen with granite counter tops. Double sided wood fireplace. Large, fully fenced backyard with covered patio, raised garden beds, playhouse, and treehouse. RV parking. Private dead end cul de sac. MLS

#1830091.

Geri Cole, 360-391-1614 WRE/Skagit Valley Windermereskagit.com

jump as much, according to Yardi Matrix predictions, which predicts a 2.5 to 3 percent nationwide increase.

But Andres of Zumper

Got a good website?

Include the URL in your ad.

Houses for Rent -Unfurnished

NEW TODAY Nice, Secure, 1 bedroom, above your own garage, includes dishwasher, AC, microwave. $1,125 per month, $500 deposit.

Available after September 5. 360-708-6057.

2 bedroom Lyman, 1 bath, large kitchen, large living room, laundry room, large front yard, large front porch, $1500 first, last, $1,000 deposit. (360)-7702137.

says that this pandemic era housing and rental markets are “so unprecedented it’s hard to say where this is going.”

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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.

360-708-8294 MLS# 1810956

2xxx urban avenue, Mount vernon $600,000

60102 STATE ROUTE 20, MARBLEMOUNT $777,000

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.

Danya Wolf MLS# 1649968 360-708-8294

Mondo is a well-established and well-loved Korean and American family restaurant at the foot of the Cascade Mountain Range. Locals and travelersmakethispartoftheirHwy20andNorth Cascade National Park trip. Major arterial choice to Newhalem and continue on to Winthrop; or cross Skagit River bridge and continue up to Cascade Pass and hiking to Stehekin. Restaurant is warm and inviting, with incredible fare. Very spacious dining area. Some outside seating available. Small gift shop area. Kitchen is beautifully remodeled.

360-708-8294 360-540-1552 MLS# 1757641

819 n 18th, Mount vernon

41546 South Skagit highway, Finney Creek

Danya Wolf

$549,900

$80,000

Danya Wolf

118 E ORANGE AVE, BURLINGTON

Home on the hill, close to shopping, 6 bedrooms and 2 baths with 2 additional convert back to a 2-car garage). Plenty of parking, nice size yard with mature landscaping.

Danya Wolf

360-708-8294

MLS# 1811049

1564 h St rd., blaine

$1,200,000

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 360-708-8294 MLS# 1568051

JoAnn Boudreau (360) 391-0746

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

64233lookoutMountainloop#1-179,MarbleMount

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.

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 Carla Fischer Sherry Ruderman

Juanita Bunch 360-941-5530

360-982-0010

Carla Fischer (360) 982-0010

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

$55,000 45249 neSika trail #2d33, lake tyee

360-540-1552

Elva Hunter (360) 202-3086

$59,500 44973 kaCheSS trail, d3-a4, lake tyee $46,000 44979 kaCheSS trail, d3-a6, lake tyee $74,000

Fantastic location in the foothills of the North Cascades! This great location and fantastic park model at LakeTyee 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 Call Sherry with any Carla Fischer Sherry Ruderman 360-982-0010 360-540-1552 questions.

John Hunter (360) 202-3086

Suzanne Jenkins (360) 941-2983

360.424.0300

$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 Call Sherry with any Sherry Ruderman Carla Fischer questions.

360-982-0010 360-540-1552

schools and medical. This home features bonus bedrooms in the garage (easily

Sherry Ruderman

Tucked away on Black Tail Loop at Lake Tyee, this very clean and well maintained travel trailer has room to sleep the family plus extra sleep space in the camper.

This comes with extras so come and check it out. It’s a perfect time to find the camp spot you’ve been wanting.

MLS# 1783219 Call Sherry Carla Fischer Sherry Ruderman with any questions.

360-982-0010 360-540-1552

Phil LaMay (360) 840-3086

Russ Lanker (360) 708-1117

So unique in a gorgeous setting. This is the time of year to relax on your deck while smelling the aroma of dinner on the grill and enjoying the sound of the water feature. While you look over to the beautiful territorial hills, crack open your beverage and be grateful you found this perfect lot to begin your summer.

MLS# 1783232 Call Sherry with Carla Fischer Sherry Ruderman any questions.

360-982-0010 360-540-1552

Kim Schlimmer (360) 661-7670

Brett Tacker (360) 840-7931

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

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 131450-1

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