Real Estate Weekly June 16, 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

informed that all dwellings advertised are available on an equal opportunity basis.

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.

Unless otherwise noted, all photographs, artwork and ad designs printed are the sole property of Skagit Publishing and may not be duplicated or reprinted without express written permission.

Skagit Publishing is not responsible for typographical or production errors or the accuracy of information provided by advertisers.

Real Estate Stat 28%

All-cash sales accounted for 28% of home sale transactions in April 2023.

Source: National Association of Realtors ®

2023 REALTOR® Charity Golf Tour name nt

Th ursday, Aug ust 1 7, 2023 at Skagit Golf and Country Club 1 6701 Coun try Club Dr, Burlin gton , WA 98233

Benefitin g Habitat for Hum an ity of Skagit an d Islan d Coun ties, Frien dsh ip H ouse, an d Koetje Mem orial Sch olar sh ips !

NPSAR's Annual Charity Golf Tournament is approaching quickly! Player registration for the tournament is now open! There are also some amazing sponsorship opportunities that you won't want to miss out on. Come out to support these great local causes!

To register to play, please scan the QR code, or visit our website: www.npsar.realtor

OFFERAccEPTED

A large covered porch leads to a lovely, one -level 3 bedroom, 2-bath home with vaulted ceilings. Kitchen has a large pantr y and ex tra deep sink. Open design provides sight line from kitchen to living/dining area. Primar y bedroom offers double closet and private bath. Well-manicured yards in front, back, and side give a park-like feel. Enjoy the peace and privac y from your covered front porch and covered back deck. Conveniently located at the end of a low-traffic cul- de -sac. No HOA Fees.

MLS#2070915

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.

Smart home and technology upgrades that can add value to your home

by Erik J. Martin

Before listing your home for sale, there are plenty of improvements you can make that can offer a good return on your investment and attract more buyers – from giving your kitchen a facelift to rebooting the bathroom to upping your curb appeal.

While these are all worthy investments, don’t sleep on high-tech gadgets and smart home upgrades, the experts agree. Internet-of-things products are designed to make life easier and safer and connect with your phone can make a big difference among prospective purchasers.

“A smart home today is considered a living space with advanced technology that allows homeowners to control and automate various household systems and

devices,” says Joshua Bartlett, owner and editor-in-chief of I’ll Just Fix It Myself. “At a minimum, a smart home for sale should typically include features like smart climate control, lighting controls and security systems – all connected through a central hub or app for easy management.”

Let’s face it, says Yawar Charlie, estate director with Christie’s International Real Estate in Los Angeles, “we’re already living in the future. And in the future, homes are supposed to be smart. So, if you want to keep up with the times, adding smart home technology to your property is a no-brainer. It not only makes your life more convenient and efficient, but it can also increase the resale value of your home.”

Nate Clark, CEO of

Konnected, a smart home technology company in Orlando, Florida, concurs.

“Many buyers are willing to pay a premium for smart home features. And having a smarter home can differentiate your property from others on the market, making it stand out in a competitive real estate environment,” explains Clark. Smart home additions that won’t break your bank, but which could improve your odds of a faster sale at a higher price include: Smart thermostats. is gizmo helps you save on energy costs by automating temperature controls, learning your schedule, and adjusting the temperature accordingly – which can save you money on cooling and heating costs. Popular options include the Nest Learning ermostat,

the Ecobee Smart ermostat, and Honeywell Wi-Fi Smart Color ermostat. Expect to pay around $100 and up for a smart thermostat, which could offer an ROI of up to 75% when it’s time to sell your home.

Smart bulbs and lighting fixtures. ese products can be controlled remotely and programmed to turn on and off at particular times, making your home better illuminated, more secure, and more energy efficient. Common products in this category include the Philips Hue starter kit, Govee light panels and portable lights, lamps and bulbs by WiZ, Hive, TP-Link and LIFX. Bulbs can be had for under $10 each, while kits with multiple bulbs and a hub can run $100 and up; anticipate recouping up to 50% of your costs after selling

your house. Smart security systems.

“Smart security features like smart locks, video doorbells, security cameras and smart home alarm systems can enhance the security and safety of your property while giving you peace of mind,” says Adie Kriegstein, a licensed real estate salesperson in New York City. “When you sell your home, you can expect to recoup up to 70% of the cost of a smart security system and/or video doorbell, which can cost around $200, and up to 70% of the expense of a smart lock system, which costs about $200.”

Keep in mind that recouped costs at resale will depend on different factors, including your location, local market, product brand and quality of the installation.

Also, some smart home

products aren’t as strongly recommended as others. “Take smart appliances, for example. Sure, they may be able to order groceries for you and play your favorite tunes, but do you really want to spend thousands of dollars on a smart refrigerator?” asks Charlie. “ ink twice about smart blinds and curtains, too, which may be able to open and close on command, but which probably won’t make a difference when it comes to selling your home.”

Other smart merch that may offer a lower ROI includes smart garage door openers, smart mirrors and smart smoke detectors. Of course, if you already have these in place, don’t remove them prior to sale; just don’t expect to recoup much of their original price.

Real Estate Questions and Advice

Question:

ere are tons of low-rate FHA mortgages that now finance and refinance homes, loans in the 3% range and sometimes lower. Is it possible to assume an FHA mortgage?

Answer:

With rates above 6%, there’s no doubt that mortgage interest at 4%, 3% and even in the 2% range are enticing. And yes, there are assumable FHA mortgages out there.

FHA mortgages are “qualified assumptions.” at means a new owner can take over such financing, but only if they meet certain requirements.

First, generally, the new borrower must intend to use the property as a principal residence.

Second, there cannot be an assumption unless the replacement borrower is fully qualified, something determined by the lender. e good news is that the FHA allows credit scores as low as 580 with a 3.5% down payment.

ird, the original borrower must get a lender release from any obligation to repay the mortgage. is is a biggie, because the owner remains responsible for repayment of the loan without a release. If the new owner decides to live at the property and not make monthly mortgage payments, the lender will look to the original borrower for the money if there is no release. Without full and timely payments, the seller’s credit score will plummet.

Even if the new borrower makes the payments, the original borrower’s credit will still suffer without a release. at’s because first borrowers remain responsible for repaying the debt and therefore have access to less credit for themselves.

Fourth, according to HUD, lenders can charge as much as $900 for processing. ere may be other costs as well. Ask the lender for a complete list of assumption fees and other expenses.

So, yes, it may be possible to assume an FHA mortgage and such an assumption may be very attractive. However, it may not be a practical choice.

ASK OUR BROKER

By Peter G. Miller

As HUD explains, “a new borrower will need to cover any home value appreciation above the unpaid principal balance on the original mortgage.”

If the assumable FHA loan balance is $300,000 and the property is worth $400,000, the transaction won’t work if the buyer does not have enough cash or secondary financing to bridge the $100,000 difference between the mortgage debt and the sale price. More debt, of course, also means bigger monthly payments and that can make it harder to qualify with the lender.

Lastly, the sellers can get a lot of buyer attention by offering a home for sale with a low-rate FHA assumption. at may mean that purchasers will have to pay a premium to get the property.

For specifics and details, speak with the loan servicer who now collects the monthly mortgage payments as well as local real estate brokers.

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

Apartments

RENTALS

NE W TODA Y

Apartments

Unfurnished

NE W TODA Y

Marilyn Kennedy Melia

e number of bedrooms and baths are standard in descriptions of homes for sale. But increasingly, the number of bathrooms shouldn’t be confused with bathtubs.

“Bathtubs are not a priority for homeowners anymore,” says Philadelphiabased Alex Capozzolo, co-founder of Brotherly Love Real Estate.

Indeed, a 2022 Houzz Bathroom Trends Survey found that 24 percent of those renovating a bathroom remove the tub. And, in a presentation at the recent International Builders’ Show, Wayne Ramaker, owner of Lifestyle Design Service, told attendees that “One of our biggest requests is to get RID of the tub in the master.”

But anyone considering resale should probably have at least one tub,

which is a requirement for any buyer with “kids or pets,” notes Francine Viola of Coldwell Banker Evergreen Olympic Realty, Olympia, WA.

“Typically, a home with at least one tub will suffice,” adds Rebecca Sutton, a Dallas-based certified kitchen and bath designer.

Most of us are timepressed, and prefer a shower to a long soak, says Sutton. Plus, “people are becoming more environmentally conscious, and showers can achieve a level of water conservation,” she adds. “A 2.5 gallon per minute shower head for a 10-minute shower would use about 25 gallons of water, while a 30-inch by 60-inch alcove tub can hold 50-60 gallons.”

Still, dual-headed showers use more water than a single spray and are a popular feature in many markets.

Anyone considering a bathroom remodel that will boost their home’s sale value might want to consult with a real estate agent on popular trends. e bathroom is “the number two most important feature behind updated kitchens,” says Viola.

“Kitchens and bathrooms are expensive to update so buyers prefer those areas to be renovated.”

Many of Sutton’s clients have resale in mind, but are also remodeling for themselves, not intending to sell for two to five years.

“I encourage my clients, especially those renovating, to not think just about resale value, but rather how they are going to enjoy using the space while living there,” says Beth Rush, kitchen and bath designer with Uniway Furniture & Design Center in South Carolina.

NE W TODA Y

Are you paying more than 30% of your gross income for rent and heat? You may be eligible for low-rent housing. Rent is based on income. We are currently accepting applications for 1, 2, 3 and 4 bedroom apartments. No Smoking. Email application request to info@anacorteshousing.com or call 360293-7831 or print application online at www. anacorteshousing.com

The Anacortes Housing Authority is an equal opportunity agency.

Bayview Apartments: The Housing Authority of the City of Anacortes is accepting applications for 1, 2 & 3 bedroom apartments. Project Based Section 8 and Tax Credit Units. PBS8 rent is 30% of income. No Smoking/ pets. Rent for Tax Credit units are below fair market rent. Must income qualify. Apply online at www.anacorteshousing. com or email info@anacorteshousing.com or call 360-293-7831 for an application. This advertisement has been placed in compliance with HUD regulations. The Anacortes Housing Authority Bayview Apartments Limited Partnership is an equal opportunity agency.

Wilson Hotel: We are currently accepting applications for studio and 1 bedroom apartments. Must income qualify. No smoking/pets. Full time students are not eligible. Email application request to info@anacorteshousing.com or call 360293-7831 or print application online at www. anacorteshousing.com .

The Anacortes Housing Authority Wilson Hotel Housing LLC is an equal opportunity corporation.

“Rub-a-Dub-Dub: One Tub Will Do”

mOt

2 bed, 1216 sf home with updated bath. New floor in kitchen & laundr y, NEW metal roof, New VINYL windows, tankless water heater. Garage 625sf, multi-purpose bldg. 880sf, 450 sf guest house w/1 bed/1 bath and living area.

Fenced yard, .66 acre lot. PLEASE STAY OFF FRESH-SEEDED GRASS ALONG THE DRIVEWAY. THANKS. MLS#2072474

60102 State route 20, MarBLeMount $675,000

1521 ForeSt ridge PLace, Mount Vernon $925,000

Custom built for enter taining and for longevity, this beautifully appointed 3,006 square foot home has no steps; wide door ways and hallways: walk in pantr y, spacious open kitchen, fabulous primar y suite with two separate baths and generous sized walk-in closet accessible from both primar y baths; storage and more storage throughout. Third bath off hallway connec ts to guest bedroom. Large office/den/work/recreation space. Spacious, convenient utility room. Enameled metal roof Ex tremely large 3 car garage (1,178 square feet) with 1/2 bath, and even more storage and work area. Large deck with gazebo for outdoor enter taining and enjoyment on this beautifully landscaped .49 acre lot Circular drive, lots of ex tra parking; generous sized RV space MLS#2067842

0 PeaSe rd, BurLington $1,100,000

OWNER FINANCING AVAIL ABLE!

BUSINESS ONLY $300,000

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

24017 trinit y Lane, Sedro-WooLLe y

Danya Wolf (360) 708-8294

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

MLS#2063728

Suzanne Jenkins (360) 941-2983 Carla Fischer (360) 982-0010

MLS# 2047824

Patricia

Danya Wolf

Designated Broker/Owner (360) 708-8294

CRS/CBA/GREEN

Danya Wolf (360) 708-8294