Real Estate Weekly June 2, 2023

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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Real Estate Stat

+7.2%

The inventory of unsold existing homes increased 7.2% from the previous month to 1.04 million at the end of April.

Source: National Association of Realtors ®

REALTORS ® Award Two Bra ndon Koetj e Mem orial Scholarships

North Puget Sound Association of REALTORS® established the Brandon Koetje Memorial Scholarship in honor of Brandon Koetje, son of fellow REALTOR® Jim Koetje. Our two recipients for this year are Ryli Roy of Oak Harbor and Sarah Weisz of Anacortes Congratulations to both Ryli and Sarah for being this year’s 2023 Brandon Koetje scholarship recipients! We wish you all the best with your future endeavors!

guest house

bed/1 bath and living area. Fenced yard, .66 acre lot.

PLEASE STAY OFF FRESH-SEEDED GRASS ALONG THE DRIVE WAY. THANKS. MLS#2072474

Why advertising matters

No matter the size of your business, good and thoughtful promotion will always help you grow awareness about your brand, get in front of more serious prospective clients, and ultimately boost your revenue. Advertising has been shown to be worth the investment, and we’re taking a deeper dive into why it really matters and what you can do to spread the word about your business.

• It creates brand awareness.

• It provides credibility.

• It helps you reach potential clients.

• It drives lead generation.

• It produces more continuous business.

• It improves your digital presence.

• It encourages customer engagement.

• It keeps your consumers up to date.

• It leads to repeat business.

The bottom line? Advertising really works. It’s a key component to building your brand, growing your earnings, and maintaining a successful real estate business. Our marketing solutions can help you get lots more eyes on your business with targeted online advertising.

Let us help you meet your marketing goals by advertising your listings in Real Estate Weekly.

The pros and cons of selling your home yourself

by Erik J. Martin

It’s pronounced “fiz-bo,” but it’s spelled FSBO. It, of course, means “for sale by owner.” And it’s a pretty important acronym to ponder if you are thinking about selling your home anytime soon.

at’s because only about 10 percent of all home sales are FSBOs, according to the National Association of Realtors. Which means the vast majority of residential real estate transactions are completed with the help of a real estate agent or broker.

e experts say FSBOs are relatively rare for good reasons.

“You, the owner of the property, must take on the responsibility of pricing, staging, photographing, marketing and showing the property as well as negotiating with potential buyers,” says Tyler Forte, founder/CEO

of Felix Holmes. “A good candidate for selling their home themselves would be someone who has the time and availability to dedicate to selling a home, and has perhaps some experience in marketing, advertising and previous real estate transactions along with experience handling negotiations.”

It’s a safe bet to assume that, among the 10 percent of transactions completed as FSBOs, many of these homeowners don’t fit all of these criteria but choose to go it alone anyway. A big reason is the money it can save; 5 percent to 7 percent that would be otherwise spent on commissions to the agents involved.

“When you sell your home yourself, the advantage is that you have complete and intimate knowledge of the home. Also, you can use the funds you would otherwise

spend on commissions to market your home more aggressively or make necessary repairs or improvements to make it more saleable,”

Kristen Conti, broker/owner of Peacock Premier Properties in Englewood, Florida, says. Additionally, you have total control over whom you show your property to. You call the shots and schedule the open houses and private showings directly.

“You can even sell creatively and make more money than just selling outright. I see owners now becoming the bank and having buyers finance directly from them at 3 percent to 5 percent interest, avoiding outside banks entirely,” explains Ryan Hawker, CEO and founder of H3 Homebuyers in Xenia, Ohio. However, there are several risks involved with lacking agent representation.

“You may choose a list

price that is too high for your market. You may not understand all the contingencies in a buyer’s offer. You may not get the desired distribution of your listing on the MLS. And most importantly, you may not be legally protected if something goes wrong,” cautions Forte. Indeed, owners often lack a good understanding of local market conditions.

“Just because a house in your neighborhood sold for $400,000 doesn’t mean yours will. Market factors change quickly, and updates on homes make a huge difference when determining a property’s value,” adds Hawker.

Additionally, market exposure is lost when the Realtor community is cut out.

“Instead of having people from all over the area who are represented by Realtors seeing your home, you are limited to whom you can reach through

your own efforts,” Conti says.

Perhaps most alarmingly, the average FSBO home sells for less than agent-represented listings. Per the National Association of Realtors, in 2021 the typical FSBO property sold for $225,000 versus $330,000 when an agent was involved.

If you are still determined to sell your home solo, take the necessary steps that will better ensure success.

“Research homes in your area. See what’s going on in your local market. Go to open houses and check out the inventory and look on the internet for information about your local market,” recommends Jessica Lane, a licensed real estate advisor and founding member with Serhant Connecticut in Greenwich, Connecticut.

“Also, carefully prepare your home for sale by making necessary improvements, decluttering and staging the

home properly. Prepare to take good-quality photos and videos that showcase your home effectively. And use whatever resources you have to get your home online and in front of his many buyers as possible.”

at means marketing your property on sites like Facebook, Zillow and FSBO. com.

To price your home properly, consider paying for a professional appraisal. You can use tools like Zillow, but keep in mind that they may not reflect accurate area prices.

“In addition, be available for calls and texts at all times to show your property, and respond punctually to these prospective buyers,” adds Hawker.

Lastly, strongly consider hiring a real estate attorney to review the transaction and provide advice before closing on your FSBO sale.

Real Estate Questions and Advice

Question:

How has real estate been impacted by the great expansion of work-from-home opportunities?

Answer:

e work-from-home trend (WFH) is largely a byproduct of the pandemic economy. Offices emptied out in 2020 when a new and deadly virus spread throughout the country. Organizations moved quickly to remote work in an effort to reduce inflection levels, hospitalizations and fatalities.

While not particularly common, office employees sometimes worked remotely before the pandemic.

e Census Bureau estimates that “between 2019 and 2021, the number of people primarily working from home tripled from 5.7 percent (roughly 9 million people) to 17.9 percent (27.6 million people).”

Where we are today is not especially clear. As the pandemic fades, employers often prefer to have workers return to established office hubs. Some major companies have asked workers to be at the office at least three, four and even five days a week. Alternatively, Yelp found that when its re-opened offices on a voluntary basis less than 2% of its workspace was actually used. e company has now

largely gone to remote working arrangements for all employees.

“Forcing people back to the office,” said Jeremy Stoppelman, Yelp Co-founder and CEO, “even in a hybrid model, is the wrong approach. It requires employees to live near an office, potentially driving up their housing costs, and to endure unpaid time spent commuting. It also means hiring is artificially constrained by geography, translating to a smaller and less diverse pool of talent.”

What about the WFH impact on real estate? ere are several.

First, working from home is plausible for many employees without major additional costs. Most office equipment uses standard Internet and electrical connections and does not take up gobs of space. However, many office employees will want separate and quiet work areas to maximize productivity. is increases demand for larger homes with extra bedrooms and other spaces that can be turned into offices.

Second, for those with “flexible” or “hybrid” work schedules, the need to remain near formal office settings continues because of the need to go into offices several days a week.

ASK OUR BROKER

By Peter G. Miller

ird, there are new housing options for those who can work remotely on a full-time basis. Such newly-liberated remote employees really can work 1,000 miles from the office – and more.

Fourth, large numbers of office workers will likely come back to office centers. As this happens, downtown office cores will see renewed commercial activity for restaurants and retailers. Some older office space will likely be converted to residential use, increasing 24-hour activity.

Fifth, now-distant locations will be “nearer” in the sense that with less office usage there will also be fewer commuters. Commuting as a result will be quicker.

Sixth, the trend toward fully remote and hybrid work will raise new management issues. How will productivity be measured? At what point is computer oversight intrusive and a privacy issue? Will remote workers be paid less on the basis of local living costs if they move to areas with lower costs?

For more details, speak with managers, co-workers and union stewards. Look for job ads that feature remote opportunities if that’s what you want.

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

“Open Houses Can Widen Buyer Pool”

Marilyn Kennedy Melia

Open houses are an old real estate tradition, but one that keeps morphing to fit current conditions. Recently, open houses went from nearly extinct during the early days of the pandemic to a chance for all interested buyers to submit their “best and final” offer at the first open house during the buyer bidding war frenzy of 2021.

Now, opens are regaining traditional importance in boosting demand. “ e more potential buyers who see the property, the faster it will sell, and if there are competing bids, the sale price will go up,” says Suzanne Miller, CEO of Empire State Properties, New York City.

Still, some types of properties don’t benefit from open houses, say agents.

Here, some agents share how they see open houses meeting the market:

Bringing in those serious, affordable home shoppers.

Lower priced homes that are ideal “starters” and properties suited for buyers moving into their second, move-up home “attract the most motivated” home shoppers, says Michael McGivern of Bridge Realty in Minneapolis. e lack of affordable housing of the last few years makes hosting an open for a lower bracket home even more crucial, he adds. But luxury or unique homes, like a mountain vacation retreat, are best shown by appointment.

Capturing buyers browsing new construction.

Kristen Conti, owner of Peacock Premier Properties in Englewood, FL, says that in neighborhoods where new construction is prevalent, many buyers are tour-

ing models, offering an opportunity for existing home sellers to capitalize on that traffic by aggressively advertising their open.

Adjusting based on feedback.

Visitor feedback can prompt marketing changes. For instance, notes Conti, if there are comments that the bedrooms seem small, owners might be amenable to taking out some furniture.

Price drop merits “new” open.

“ e way the new, lower price is announced depends on the specific circumstances,” says John Myers of Myers & Myers Real Estate in Alburquerque. “If the initial open house was well-attended,” says Myers, an agent may hold a “new” one to announce the adjusted price. But if a prior open wasn’t drawing buyers, other advertising strategies can be more effective.

$1,390,000

OPEN HOUSE, SUNDAY, JUNE 4TH, 1-3PM

This 4 bed/ 3.5 bath, 3982 sq. ft. home is per fec tly situated on a shy acre offering exquisite one -level living in prime location with a spec tacular bay and mountain view. Away from the hustle and bustle yet so incredibly close to ever ything! Easy access to Hw y 20 for travel West to Anacor tes, Deception Pass, and beyond; or travel East to I-5 for commuting (Nor th and South) or continue Eastward to the beautiful Nor th Cascades. Recent upgrade of kitchen cabinets, decks on nor th, south, and west sides of the house, 3 car garage, expansive driveway parking, sauna, Thermo -spa Aquasizer, updated professional landscaping, sprinkler system, and garden space. Near to beach, park, and Padilla Bay trails; great area for walking, jogging, and biking. MLS# 2047824

41528 CeNter St, CoNCrete $325,000

A long, treed driveway leads you home to this private setting in a community with private river front beach access and a park with a playground Home features 3 bedrooms and 2 full baths 756 sq ft RV carpor t could easily be enclosed as a garage or shop or even a gym. Storage building/shop. You may wish to visit the community beach and picnic area.

Can fish in season, swim, kayak, raft or wade Picnic slide swing Home has ver y open floor plan and a wonder ful primar y bedroom suite

Remodeling is almost complete Great kitchen with space for table and chairs

Mud room too! Note: Interior photos available May 30th, 2023.

MLS#2073645

24017

Patricia Box (360) 941-9186

0 PeaSe rd, BurLiNgtoN $1,100,000

Three acres of commercial land in Burlington, WA. Proper ty is zoned M-1 Industrial Distric t Located just off of Burlington Blvd with easy access to I-5. All utilities available in street. This proper ty offers a multitude of potential uses. Buyer to verify uses with the City of Burlington Planning Depar tment as changes are expec ted sometime in May of 2023.

MLS#2063728

Juanita Bunch (360) 941-5530

OPEN HOUSE, SATURDAY, JUNE 3RD, 11-1PM

Many investment possibilities with this home & proper ty: Classic 4 bed/2.5 bath farmhouse style 2560 sq. ft. home with east-facing deck on 1.76 acres. Home offers kitchen w/island & ceramic tile floors, office, bonus room, mud/laundr y room, living room with propane fireplace, built-in bookshelves & beautiful laminate over hardwood floors. Detached building per fec t for office or studio. The proper ty features a 16,000+ sq. ft. pole building with its own water, power & septic. Pole building includes a large, insulated shop area & expansive ex ternal parking area; RV hook-up at the east end, per fec t for guests. Potentially income -producing proper ty. Special Use permits were previously approved for home -based businesses (in 1995 & 2010).

MLS#2028784

Suzanne Jenkins (360) 941-2983

Carla Fischer (360) 982-0010

60102 State route 20, MarBLeMouNt $675,000

Mondo is a well- established and well-loved family-style restaurant at the foot of the Cascade Mountain Range. Locals and travelers make this par t of their Hw y 20 and Nor th Cascade National Park trip Major ar terial choice to Newhalem and continue on to Winthrop; or cross the Skagit River bridge and continue up to Cascade Pass and hiking to Stehekin. The restaurant is warm and inviting, with incredible fare Ver y spacious dining area. Some outside seating available. Small gift shop area. The kitchen is beautifully remodeled. New flooring and ex terior lighting.

MLS#2038466

ONLY $375,000

Danya Wolf (360) 708-8294

Danya Wolf

Designated Broker/Owner (360) 708-8294

CRS/CBA/GREEN

triNit y LaNe, Sedro-WooLLe y