Real Estate Weekly: July 15, 2022

INSIDE

This Issue TRACKING MIGRATION INTO AND OUT OF THE SUBURBS PAGE 5

WHAT’S WRONG WITH THIS HOME? PRIOR INSURANCE CLAIMS HELP UNCOVER HOME VULNERABILITIES

PAGE 7 CLASSIFIEDS PAGE 7 JULY 15, 2022

TABLE OF CONTENTS Tracking migration into and out of the suburbs...................................................................P5 Q&A

Ask Our Broker.......................................................................P6

What’s wrong with this home?..............................P7 Classfieds.............................................................................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 ©2022 by Skagit Publishing | All rights reserved.

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July 15, 2022

STAT Real Estate Stat

44%

By region, 44% of existing home sales were sold in the South, with 20% sold in the West, 13% in the Northeast and 23% in the Midwest in May 2022.

Source: National Association of Realtors

NORTH PUGET SOUND ASSOCIATION of REALTORS® 525 College Way, SuiteBurlington, J Mount Vernon, WA98273 98273Tel.Tel. (360) 416-4902 517East E. Fairhaven Ave, WA 98233 (360) 416-4902

FEATuRED PRoPERTY:

IMPRoVED PRICE

23644 LAkE STREET, CLEAR LAKE

www.npsar.com

Creating a Home's First Impression Curb appeal is a home’s first impression, and the first chance to impress potential buyers. Whether buyers are amazed by a beautiful and immaculate yard or turned off by dirty exterior walls and an overgrown lawn can meaningfully affect the speed and price at which a home sells. Improving a home’s curb appeal can be as simple as repainting a front door and getting rid of weeds in the front yard, or as involved as creating an outdoor lighting design and replacing all of a home’s windows.

Before placing a home on the market, it is important to make sure that the home is prepared - inside and out - so it sells quickly and for top dollar.

Source: https://www.nar.realtor

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

$179,900

Danya Wolf (360) 708-8294

oPEn HouSE, Sunday, July 17th, 1-3pm

Well placed, older manufactured home with addition, located on shy ¼ acre lot across the street from Clear Lake elementary school.

Lot is beautifully maintained with lovingly cared for mature landscape, in both front and backyards. Front of home which features an accessible ramp is so inviting, you’ll feel right at home.

Home feels open, in the living room there is a wood stove on a raised brick-faced hearth to keep you cozy. Kitchen is ample and well-appointed, for this size home with plenty of cupboards and a pantry. Fenced backyard has a concrete block patio for relaxing or enjoying a bbq. There is a detached 2 car garage.

MLS# 1955181

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.

July 15, 2022

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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 is renewing interest in the 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 p t e a g i c r r f

Th a p 2 c t m July 15, 2022

Tracking migration into and out of the suburbs

By Erik J. Martin CTW Features

Big cities have long been a magnet for renters and home buyers alike, often promising closer proximity to jobs, greater dining and entertainment attractions, and a lifestyle amenable to go-getters and active Americans. But truth is, many city dwellers have opted to relocate to suburban and rural areas over the past few years.

According to data from The Pew Charitable Trusts, a year after the COVID-19 pandemic started in March 2020, relocations out of city markets jumped from the prior year, along with moves into suburban and July 15, 2022

rural areas. Moves out of the densest portions of large metros (with more than 10,000 people per square mile) increased 17% to approximately 2.9 million from March 2020 to February 2021, although the number of moves away from these dense locations came back to pre-pandemic levels between March 2021 and February 2022.

Based on the most recent National Association of Realtor data (from a year ago), the share of inbound moves for urban areas was 48.5% versus 54.6% for rural areas, indicating that more Americans are choosing to move to rural/suburban sites instead of urban areas lately.

Yet there are signs that major metro living is back in vogue.

“Over the last few years, we’ve seen above average moves from cities to suburbs because of pandemic-related restrictions. But we are now actually seeing a move back to cities,” says Ralph DiBugnara, president of Home Qualified says. He cites a recent study by Redfin indicating that the number of people moving to cities is 7% higher this year than pre-pandemic in 2019. “Gen Z, as well as groups who want to be closer to nightlife, arts, and increased culture-related activities, are coming back to cities at an even higher

rate than before.”

Tim Ossmo, CEO of Suburban Jungle in Chicago, says urban living is a significant attraction for many buyers and renters today.

“From cultural happenings such as concerts, museums, trendy bars and restaurants, and sports arenas to the concept of walkability or close proximity to a job center, there are many pros to city life,” he says.

Shaun Larson, real estate broker at Parks Real Estate in Brentwood, Tennessee, agrees.

“Migration from the suburbs to an urban center often relates to the level and type of growth

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an urban core is undergoing. Suburban homeowners who often have owned grasslands and singlefamily homes sometimes reach a stage at which they are looking to reduce the time-consuming aspects of homeownership without giving up lifestyle,” says Larson. “If an urban core provides activities relating to segments like dining, concerts, sports, and culture and is undergoing thriving growth that encourages downtown life, home buyers recognize the opportunity and envision their next stage of life in the city.”

Ask Southeast Michigan Realtor Jason Gelios and he’ll tell you that he’s

witnessing greater migration in his market toward suburban areas.

“I’ve had many home buyer clients attribute suburban living to having more space outdoors to enjoy, closer amenities, a better community for their family, and a more affordable home compared to properties in the cityscape,” says Gelios.

“But I always advise buyers to make sure they learn as much as possible about their target area, including the school district, local amenities, and the job market. It’s important to look beyond the actual home to consider whether an area is feasible to your living needs.”

Expenses to consider before moving out of an urban area are taxes, landscaping, home maintenance, and utility costs, recommends Ossmo. By contrast, think carefully about the compromises you will make if you are pondering a move to an urban area instead.

“An urban move traditionally means less space, less privacy, and often more noise. Safety and transportation options should also be considered,” Ossmo continues.

Larson predicts that migration to the ’burbs will outpace relocations to larger cities in the coming years.

“People have been exposed to remote working, increased conveniences and deliveries of consumer goods, and a drive to enjoy the quality of life which includes more nature. That translates to buyers seeking more rural areas as either their primary or a secondary residence,” he adds.

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The post-pandemic home office Question:

dropped from 54% in late October 2021 to 28% as of late April. Return to office rates will increase after Labor Day, with 49% of workers expected in the office on an average weekday in September 2022.”

Answer:

In other words, a lot of people who used to work in a formal office setting will now work from home, at least on a part-time basis, a “hybrid” or “flexible” schedule. That said, the central office will still be with us. Here’s why.

Now that we are past the worst days of the pandemic, won’t a lot of people be going back to work? Doesn’t that mean less demand for larger houses that can more easily accommodate one or more home offices?

The work-from-home movement (WFH) demonstrated that millions of employees can productively work outside traditional office settings. That said, with less danger from the pandemic at this time, the number of people who work from home on a full-time basis will substantially decline.

Consider Microsoft. It has told employees that “we recognize that some employees are required to be onsite, and some roles and businesses are better suited for working away from the worksite than others. However, for most roles, we view working from home part of the time (less than 50%) as now standard – assuming manager and team alignment.”

Or, on the East Coast, the Partnership for New York City said in May that “as of mid-April 2022, 38% of Manhattan office workers are currently at the workplace on an average weekday. Only 8% are in the office five days a week. The share of office employees that are fully remote

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First, very few people worked from home on a fulltime basis before the pandemic. According to McKinsey & Company, “about 20 to 25 percent of the workforces in advanced economies could work from home between three and five days a week. This represents four to five times more remote work than before the pandemic.”

In effect, only about 5% of the workforce worked remotely on a full-time basis in 2019. Even if that number doubled, it would still mean that about 90% of all office employees will return to formal company settings on some basis.

Q&A

ASK OUR BROKER

By Peter G. Miller Twitter, for example, has told workers that “wherever you feel most productive and creative is where you will work and that includes working from home full-time forever. Office every day? That works too. Some days in office, some days from home? Of course. That’s actually how most of you feel.”

Most jobs, however, simply cannot be done from home.

“Most U.S. workers (60%),” according to the Pew Research Center, “don’t have jobs that can be done from home, and others who do have these types of jobs are going into their workplace at least sometimes.”

The bottom line is that home offices will continue to be an important consideration for many households, and for that reason larger homes will remain in demand. In fact, a survey earlier this year by Zillow found that buyers will pay 2.5% more for a home with strong Internet access and 1.6% additional for a property with a home office. For a $400,000 home, that’s an extra $16,400 for just these two office-related features.Email your real estate questions to Mr. Miller at peter@ctwfeatures.com.

Second, employers are divided regarding how the backto-work issue should be handled. Some are very open to the idea of full-time work from remote locations.

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July 15, 2022

RENTALS Mobile Home Spaces RV SPACE ON 6 ACRE ESTATE FOR RENT No pets, one vehicle, water, sewer, garbage and electricity included.

Rent by week $250, or month $900, $300 deposit. Very quiet, corner of Chuckanut Dr & Cook Rd. 360-424-6974

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What’s wrong with this home?

Prior insurance claims help uncover home vulnerabilities

By Marilyn Melia Kennedy CTW Features Older homes, particularly those that haven’t been updated, are the wallflowers of this market.

While buyer demand is still so strong that homes go under contract quickly, there’s less competition for the wallflowers, providing an opportunity for less deep-pocketed buyers, especially first-timers.

Buyers can help ensure that they’re not stepping into a money pit by ordering a home inspection.

“The inspector will provide a review and written report of the visual and accessible systems,” like the structure, roof, attic, plumbing, and builtin appliances, explains John Wessling, current president of the American Association of Home July 15, 2022

Inspectors.

Asking a seller to provide a five-year history of any homeowner insurance claims is another “valuable insight into the home,” says Wessling.

Especially when there’s evidence of prior roof damage or there’s a creek or river nearby, Wessling says, an inspector might suggest that the buyer ask for a claims history.

The claims history indicates whether repairs have been made properly and whether there’s risk to future damage, he adds.

“When something looks suspicious, like an industrial-size dehumidifier in a basement but there aren’t obvious signs of water damage, asking for a claims history is a good idea” says Alex Young, a broker with Keller Williams, Green Bay, WI. In some areas, like the Arizona market that

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HomeSmart agent Paul Welden works in, the standard purchase contract asks sellers whether they’ve made claims in the past five years.

When buyers start shopping for their own policy after submitting an offer, they can also ask to discover the specifics about any claims from insurance firms, Welden says. (Only insurance firms or a homeowner can order a CLUE report on a specific property.)

“I’ve seen many times where the seller makes a counteroffer to the buyer stating that the CLUE will not be provided and that’s fine for my buyer clients because there are other resources (an insurance firm) where the buyer can obtain the same information,” Welden concludes.

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23952 nortH West vieW rd, mount vernon

55’Waterfront

$1,100,000 4617Beaver Pond drive s,mountvernon $99,000

View, view, view! This spacious 2260 sq.ft home on the sunny side of Big Lake has spectacular views from almost every room. Features include a multi-level deck, aggregate patio and private dock. So many opportunities for just relaxing or entertaining guests. Home offers 2 beds/ 2 baths, kitchen with pantry, SS appliances, lots of cabinetry, a peninsula, just add a couple stools to enjoy a little chit chat while preparing a meal. Laundry room has multiple cupboards and a sink.

Unfinished 936 sq.ft basement affords more room for storage. From the kitchen step down to the living room with large windows to take in the view, then out the French doors to the partially covered deck, yours to Danya Wolf (360) 708-8294 enjoy rain or shine. MLS#1927143

Great neighborhood to build you home, large lot with all the utilities in the street ready for you permit! Lot is surrounded by greenbelt for maximum privacy, great walking neighborhood.

MLS# 1954211

1207 Jameson st., sedro Woolley $525,000 mucH BiGGer tHan it looKs!

1 mountainvieW rd, mountvernon

Vintage one level 2440 sq ft, 4 bed/1.75 bath home on quiet dead end street. Home features beautiful hardwood floors, a free-standing pellet stove and a pellet insert. Bonus space/ room near bedrooms has built-in desks and storage. Formal living room, dining room and an eat-in kitchen w/window into family room featuring counter space to fit a couple of stools. Primary suite has walk-in closet, private bath and an extra room that offers an option to work from home with an exterior door providing a separate entry for clients/ customers. Fully fenced front and back yards w/mature landscape, covered ‘patio’space off the family room. There is an outbuilding for hobby or workshop. Garage wired for generator, driveway has plenty of Carla Fischer extra parking. MLS#1957623 (360) 982-0010

60102 state route 20, marBlemount

$790,000

Mondo is a well-established and well-loved Korean and American family restaurant at the foot of the Cascade Mountain Range. Favorite of locals and travelers. Restaurant is warm and inviting, with incredible fare. Very spacious dining area. Some outside seating available Small gift shop area. Kitchen is beautifully remodeled.

Business only $335,000 MLS#1926484 Business and property $790,000 Danya Wolf MLS#1926413 (360) 708-8294

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

JoAnn Boudreau (360) 391-0746

Juanita Bunch (360) 941-5530

Carla Fischer (360) 982-0010

21290 lafayette rd, sedro-Woolley

OPEN HOUSE • Sunday, July 17th 11-1PM Possible seller financing with large down payment.

Shy 20 acres of farmland with deluxe triple-wide 2150 sq.ft. manufactured home. Portion of acreage is leased year to year to local farmer (about $4500 per year). Pole barn/garage w/attached carport and separate shop.There is garden space and fruit trees, several smaller outbuildings, including starter greenhouse and deck.The home offers a large kitchen with island, pantry, and nook with bay window overlooking farmland. High ceilings and open feel floor plan. Free standing wood stove supplements forced air heat. Primary bedroom has walk-in closet and private bath.There are two more bedrooms, a den, and another full bath to complete this home. Lots of parking for you Carla Fischer and your guests. MLS#1905659 (360) 982-0100

Elva Hunter (360) 202-3086

$115,000

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 and wetlands have been delineated. Power and PUD water are available at the street. Perc test performed/3 bed septic possible, permit#SW22-0073 Danya Wolf (360) 708-8294 MLS# 1861233 14903 rustic lane, concrete $75,000 Two very well maintained, level lots. Bring your camper, fifth wheel, RV or tiny home.

Great location for year round residency or weekend /vacation getaways.

Shared well, power available at street.

Patricia Box MLS# 1951005 (360) 941-9186

Elva Hunter (360) 202-3086

John Hunter (360) 202-3086

2301 martin rd, mount vernon $560,000 OPEN HOUSE • Saturday, July 16th 11-1PM Great traditional tri-level home in fabulous location; nearby theYMCA, SkagitValley College, schools, shopping, and parks. Easy commute.

Skagit River is close by for fishing too. Home offers 3 bedrooms on upper level, a full bath and the primary bedroom which has an attached ¾ bath and a private deck. Main level has the living room with gas fireplace insert, kitchen with eating space and dining room at opposite end of kitchen.There are sliding doors to the deck, overlooking the backyard, with a view to the North and to theWest for enjoying the sunset. Lower level has Laundry with a ½ bath, a very large hall which could provide an extra seating/office/hobby area and a bonus room with sliding door access to the concrete patio, which could become a 4th bedroom. Interior is freshly painted, roof and gutter system approx. 2 years old, water heater new in Feb 2022, and the north section of the fence is new, white vinyl. Seller offering $10,000 towards Buyer’s closing costs.

Patricia Box MLS#1951361 (360) 941-9186

1307, 1309 and 1311 olymPic lane, mount vernon

$139,000

Each Lot is listed at only $139,000 Ready to build your home in beautiful Eaglemont, lots have all city utilities, you just need to bring your plans and permits. Only a few lots left in Eaglemont! 3 lots side by side, great opportunity for a builder. MLS#1953889, 1307 Olympic Lane; MLS# 1953896, Elva Hunter 1309 Olympic Lane; MLS#1953900, 1311 Olympic Lane (360) 202-3086

Suzanne Jenkins (360) 941-2983

360.424.0300

$575,000

Phil LaMay (360) 840-3086

Russ Lanker (360) 708-1117

Brett Tacker (360) 840-7931

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

3780 E. College Way, Mount Vernon www.skagittraditionrealty.com 249784-1

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July 15, 2022