Real Estate Weekly February 12, 2021

INSIDE

This Issue

HERE’S WHY THE HOMEOWNERSHIP RATE IS RISING PAGE 5 DETOUR IN HOME PREFERENCES LOOKS LONG-TERM PAGE 7 CLASSIFIEDS PAGE 7

FEB 12-18, 2021

TABLE OF CONTENTS Here’s why the homeownership rate is rising........................................................................P5 Q&A

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

Detour in home preferences looks long-term...............................................................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

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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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February 12, 2021

STAT Real Estate Stat

2 million Approximately the number of active real estate licensees in the U.S. Source: The Association of Real Estate License Law Officials

NORTH PUGET SOUND ASSOCIATION of REALTORS®

FEATURED HomE FRom covER:

525 East College Way, Suite J

NHN CasCade Way, MarbleMouNt

Tel. (360) 416-4902

www.npsar.com

Protecting the American Dream: Homeownership Must Remain a National Policy Priority Perhaps better than any other group, Realtors® recognize and understand how homeownership has the potential to change lives and enhance futures for people from every background and in every corner of this country.

Homeownership encourages people to build roots and invest in their neighborhoods. It is well documented that homeowners volunteer, serve on community boards and are even more likely to vote in local elections. What’s more, studies have shown that the children of homeowners perform better in school and go on to earn more money as adults.

Across the U.S., real estate accounts for one-fifth of our Gross Domestic Product. That figure totals more than $3 trillion – and represents a key driver of our national economy.

Realtors® are more than agents and apps. We are community advocates who commit to a code of ethics and advocate for private property rights. In a transaction that is often the largest and most complex we will make in our lifetime, consumers want a trusted professional to guide them through this process. And there is no substitute for that.

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.

February 12, 2021

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$225,000

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(360) 540-1552

Very few properties manage to beautifully integrate the outdoors into their living space but this cabin in the woods will delight you with wilderness surroundings while cradling you in the kind of luxury you crave after a long hike. Let the magical flow of music from nearby Boulder Creek lull you to sleep in this cozy cabin kept toasty warm with a propane fireplace. Sip wine and relax on your covered deck down the short path from the cabin next to the wood fire in your cedar plank hot tub. This wonderland in the wilderness will certainly capture your imagination while providing a base for all your adventures in the Cascade Mountains.

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February 12, 2021

Here’s why the homeownership rate is rising

By Erik J. Martin CTW Features he ongoing pandemic has taken a toll on the American pocketbook. Many remain out of work, and others are hesitant to commit to major purchases considering the economic uncertainty.

That begs the question: How can the national homeownership rate possibly be rising in this economic climate?

Consider that, back in 2016, the national homeownership rate hit 62.9%, a 40-year low, according to the U.S. Census Bureau.

But by the second quarter of 2020, the rate jumped to 68.1%, its highest tally

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February 12, 2021

since 2004-2005, right before the Great Recession occurred. Currently, the rate stands at 67.4% – still at a loftier level than many would anticipate.

So why and how are more Americans owning homes lately, despite the current financial risks? What’s behind these rising numbers?

Plenty, say the pros.

“Homeownership is rising because there is a pentup demand from years of delayed household formation,” Brian Koss, executive vice president of Mortgage Network in Danvers, Massachusetts, says. “We’ve seen a significant growth in new households over the past year, many of which are

becoming homeowners.

And historically low interest rates and rising home values are contributing to this pursuit of homeownership.”

Jared Maxwell, vice president of Consumer Direct Lending for Middletown, Rhode Island-headquartered Embrace Home Loans, subscribes to this theory.

“Families are also looking for more space and desiring to move from the city to the suburbs. Plus, there’s been an increase in the purchase of second homes and the number of buyers purchasing multigenerational homes,” notes Maxwell.

Don’t discount the power

of Gen Y, either.

“The millennial market has made their arrival, and they are starting to get married, have kids, and, consequently, buy homes,” explains Andy Sachs, Realtor with Keller Williams Real Estate in Newtown, Connecticut. “Additionally, even though there has been great job loss during the pandemic, much of that loss does not affect the socioeconomic strata that are most likely to buy homes.”

While the current COVID era has certainly presented challenges, it has also created opportunities.

“Homebuyers are more confident they can move further away from ur-

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employed people than homeowners, insists Daniel Wood, co-founder of Momentum Property Education.

“A lot of people see the pandemic figures and think it’s an amazing opportunity to purchase a home. It’s like when the stock market rises and everyone jumps on the boat – the same effect is happening now,” Wood explains.

A rising homeownership rate is good news overall for our country.

“Owning a home can help consumers build wealth. And it contributes to a stronger economy and stronger communities. Plus, as home prices increase, homeowners benefit from the opportunity to tap into their home equity and also eliminate mortgage insurance more quickly,” adds Maxwell.

What’s more, owning a home creates a forced home savings account that will come in handy for ban centers in search of retirement. greener pastures, lower “Rising homeownership taxes, great schools, and helps support all forms of more home for the dollar, other jobs, too, including thanks to the ability to contractors, home imtelecommute and the ac- provement stores, remodceptance of remote work- elers, landscapers, and ing by many employers,” many others,” says Sachs.

Sachs notes.

Of course, not everyone Koss believes that the benefits equally from a rismajority of those whose ing homeownership rate. employment was affected As demand for homes by the coronavirus crisis increases, home prices were renters who were continue to rise – which not considering a home puts the squeeze on propurchase even before the spective buyers. financial crisis.

“But it’s a great time for “So taking them out of the home sellers, who can pool of buyers didn’t have profit significantly from much of an effect on the selling. And homeowners increase in homeownerstaying put can use their ship,” he says. increased home equity to Furthermore, don’t forget borrow more money,” says that there are still more Koss.

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Q&A

Home offices Question:

Because of the virus, we have been working from home. But now, with the vaccines, it looks like the pandemic will be behind us at some point in 2021.

How will the growing use of home offices change real estate values?

Answer:

The pandemic has been remarkably disruptive and hurt households nationwide. The number of deaths and illnesses has been appalling, and some people will suffer from long-term effects. Business closings, massive unemployment levels, and unpaid rent and mortgages will all have to be dealt with in the coming months.

For many years, the distance between the formal workplace and home office has been getting smaller and smaller. The computer used by office workers at home and the equipment used at work is often similar in power and programming. The Internet is accessible everywhere. For many office workers, where you work is increasingly less important than what you produce.

ASK OUR BROKER

By Peter G. Miller

Flick a switch, and you can have a face-to-face meeting with someone thousands of miles away. Or further.

There’s no doubt that the COVID-19 virus will force us to re-examine many long-term practices and policies.

The concept of the centralized office core and the home office will both evolve. How they will change may be surprising.

As one example, according to McKinsey & Company, “more than 20 percent of the workforce could work remotely three to five days a week as effectively as they could if working from an office. If remote work took hold at that level, that would mean three to four times as many people working from home than before the pandemic and would have a profound impact on urban economies, transportation, and consumer spending, among other things.”

In this view, the centralized office will not disappear but will be used differently. Commuting for many employees will be reduced but not eliminated.

Congestion and pollution will be reduced. Commuting times will contract. With fewer people, overall office

size will be reduced, but space per employee will be increased, making office environments more attractive.

We’re likely to see changes in residential real estate as commuting patterns evolve. Bigger houses will see more demand. Buyers will increasingly look for properties with one or two home offices separate from the rest of the house. Traditional definitions of a “good” location will evolve since work from almost anywhere will become increasingly feasible. We may see that rural communities will become more popular with the growing acceptance of remote working.

Will teleworking increase affordability? The answer, according to Zillow, is yes.

“Almost 2 million U.S. renters,” says the company, “that currently can’t comfortably afford to buy an entry-level home in their current metro area could potentially afford the nation’s typical starter home if they took advantage of increased telework options and moved to a less-expensive locale.”

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

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.

ContaCt: 360.424.3251 • ads@skagitads.Com 6

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February 12, 2021

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CLASSIFIEDS PUBLISHER'S NOTICE

Detour in home preferences looks long-term

By Marilyn Kennedy Melia CTW Features he relationship Americans have with their homes took a big, fast turn due to the pandemic.

Home became the office, school, gym and more; with many deciding that their current place could use an upgrade.

Sales of single-family homes in suburbia jumped as buyers looked for more spacious surroundings and didn’t worry as much about

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February 12, 2021

commuting distance.

But when the pandemic abates, will this trend look so 2020?

A lot depends on if WFH will last. The National Association of Realtors recently polled experts on whether the 21 percent of workers now estimated to be 100 percent remote will last.

The prediction: Fulltime WFH will drop to 18 percent in 2021 and 12 percent in 2022, from the current 21 percent.

But real estate agents see

buyers who are confident their home choice has staying power.

“Many have employers have made permanent – and publicly announced – changes to their workforce, allowing work from home indefinitely,” says Darrell Plummer, Sierra Nevada Properties.

Some think “they will return to their office, but not on a full-time basis,” adds. Kyle Sadis, IN-HOUSE Real Estate, Huntington, NY. Moreover, homes are being adapted for today’s

needs and could be reverted if necessary.

“Buyers won’t buy just because of the good WFH space. It still needs to be ‘home,’ even if it can also serve as an office,” says Calvin Strain, Fathom Realty, DallasFt. Worth.

“Rarely have we seen homeowners making such drastic changes to an area that it can’t easily be converted back,” adds Plummer.

Indeed, a study spearheaded by marketing firm tst-ink in late April

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found that consumers want flexible walls, home office space for two workers, more storage, and hygienic features like touch-free faucets.

In many cases, adds Sadis, “The decision to purchase a home that offers more space but leads to a longer commute is something buyers have been considering long before the pandemic.”

Now, the transforming 2020 year brings practicality to that home desire, whatever the future holds.

All rental and real estate for sale advertising in this newspaper is subject to the Fair Housing Act which makes it illegal to advertise any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin, or an intention, to make any such preference, limitation or discrimination Familial status includes children under the age of 18 living with parents or legal custodians, pregnant women and people securing custody of children under 18. This newspaper will not knowingly accept any advertising for the rental or sale of real estate which is in violation of the law. Our readers are hereby informed that all dwellings advertising in this newspaper are available on an equal opportunity basis.

To complain of discrimination call HUD at (206) 220-5170.

2 Bdrm house with loft on 1/4 acre, needs remodeled but is livable, asking $159,500. To view call 520-221-1607 or 360-840-3292.

RE-Weekly 10 - January 29, 2019

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i’m a Seniors real estate Specialist

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 Carla Fischer Elva Hunter YOUR SRES® 360-982-0010 360-202-3086

44947 kayak trail #2B36, ConCrete, Wa 98237

$74,900

Perfect time to snag this little piece of heaven at Lake Tyee. This comfortable park model with room addition is the perfect retreat. Imagine yourself snuggled up with a hot cup of cocoa and looking out the window as you see the giant snow flakes drop on the lake. This is the year to do so.

Beautiful properties have come and gone, but this one is for you!

MLS# 1687797 (360) 540-1552 Sherry Ruderman

H Street rd., Blaine

$1,200,000 Eighty (80) acres of 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 homesite/Pasture land along the southwesterly edge of the property. Potential for up to 16 building sites. Shown by appointment.

MLS# 1568051 360-708-8294 Danya Wolf

2xxx urBan avenue, Mount vernon

lotS 2&3 lakeSide drive, GlenHaven lakeS

$49,900

4969 Helena lane #2C78, lake tyee

Looking out to Mount Baker and beautiful territorial views with your hot cup of coffee as you sit on your quaint comfy porch is just where you want to be after this crazy year. Start 2021 with the perfect get-away in the North Cascade Range Foothills. This almost brand new park model is nestled in Lake Tyee Recreational Resort. The loft gives you extra sleep space for guests and there is plenty of parking, as well. You’ll enjoy this quiet, peaceful and gorgeous location. Come take a look for yourself. 210 days/yr and $162/ mo dues includes water, septic and garbage.

(360) 540-1552 MLS1716532

Build your dream home on these two adjoining lots near Glenhaven community amenities: pool, clubhouse, tennis/basketball courts, outdoor exercise area, playground, enjoy nature with trails and trout stocked lake, 2 boat launches, community events; near several area lakes. Easy commute, 1/2 way between Mount Vernon and Suzanne Jenkins Carla Fischer Danya Wolf Bellingham. MLS# 1628528 360-941-2983 360-982-0010 360-708-8294

7308 HoBSon rd., BoW

$235,000

Sherry Ruderman

44585 idaHo lane #1B42, ConCrete, Wa 98237

Sherry Ruderman

4629 Beaver Pond drive S.

Elva Hunter

$600,000 7704 Silver lake road, MaPle FallS

$349,000

This home ‘lives bigger’ than its stated size of 1491 sq.ft., offering 2 beds, plus bonus room, 1 3/4 baths on a large lot with ample parking, a detached 2 car garage and a HUGE storage building. The kitchen has a large pantry, skylight and plenty of cupboard/ counter space. Master has a large shower with an oversized vanity and a walk-in closet. Living area features vaulted ceilings and ceiling fan. Main bath has 2 doors for easy access to the laundry room and the outdoors. This home is set back from the road and has a beautiful front yard or you can enjoy the privacy of the large yard in the Sherry Ruderman Patricia Box back, as well.

360-540-1552 Office Manager/Broker o: (360) 424-0300 MLS#1694535 C: (360) 941-9186

Danya Wolf

360-708-8294

360.424.0300

$105,000

Start your new home on this private 13,929 sq.ft lot in Eaglemont with all utilities in the street, surrounded by greenbelt and wooded area for maximum privacy, wonderful neighborhood with beautiful homes, walking distance to Clubhouse and restaurant with awesome views and sunsets. Eaglemont is an 18 hole Golf Course Championship Public Course!

360-202-3086

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

Prime 1 acre level, commercial parcel, subject to boundary line adjustment.

MLS#1649968

$49,500

This beautiful piece of property sits along Grandy Creek. This lot has an RV and room addition to fit a large group. Enjoy the deck with gazebo while you listen to the creek. Or, sit by the fire pit while you relax and roasts some marshmallows for the smores. This one-of-a-kind location can be enjoyed throughout the year for get-aways. Dues $162/mo and enjoy for 210 days/ year. Comes with lots of amenities, water, septic, garbage and power.

(360) 540-1552 MLS# 1723545

Great location off of Bow Hill: lightly treed 4.27 acre tractonHobsonRoad,southofSamishHeightsRoad; and located on the west side of the street.

Level, beautifully treed building tract with wonderful sunsets. Power at road.

Danya Wolf 360-708-8294 MLS# 1572369 17180 MeMorial HWy Mount vernon $415,000

$79,500

veterans - i am pleased and honored to offer Carla Fischer 360-982-0010 a discount to our military. My family settled in the Skagit valley after my husband retired from the navy, so i am happy to help you navigate your new community.

3780 E. College Way, Mount Vernon

www.skagittraditionrealty.com 2041661

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February 12, 2021