Life in Snohomish County & King County | Powered by Lisa Bender at SPIRE ONE Realty
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🌄 Kayak Point Reopens, Where to Retire in WA & Improving Your Credit

🌄 Kayak Point Reopens, Where to Retire in WA & Improving Your Credit

Stay up to date on what's happening in the Snohomish County economy.

Lisa Bender
April 26, 2024

Happy Friday!

We have great news about Snohomish County this week!

Kayak Point Regional Park is set to reopen, and Snohomish was named #2 out of the 9 best places to retire in Washington State.

We are also looking at the “4 Cs” of credit and how you can use them to be better prepared to qualify for a mortgage.

— Lisa

🛶 Kayak Point Regional Park To Reopen

Driving the news: Snohomish County has announced that Kayak Point Regional Park, located south of Stanwood, will reopen to the public on July 1, 2024, after a yearlong closure.

The reopening comes as Phase One of construction nears completion, with plans to close the day-use area again on October 15, 2024, for the start of Phase Two construction.

Details: Despite the reopening, visitors should expect changes and ongoing construction throughout the summer.

The pier, typically used for fishing and crabbing, will remain closed due to the state Department of Fish and Wildlife's requirement for in-water construction during the summer months to minimize impact on aquatic life.

Amenities that will be open include the beach, trails, parking, restrooms, picnic shelters (with reservations opening March 1), a new boat launch, playground, campground, and overflow parking.

However, not all accessibility amenities will be available during this interim phase.

Why it matters: The reopening of Kayak Point Regional Park is significant for families and visitors across Snohomish County who have been eagerly awaiting the opportunity to enjoy the park's amenities once again.

The temporary reopening allows the public to access the park while also witnessing the ongoing improvements firsthand.

The big picture: Snohomish County is making substantial investments in the long-term future of Kayak Point Regional Park.

The Phase One construction is just the beginning, with Phase Two set to include updates to the rest of the day-use area recreation, habitat, and infrastructure improvements.

What's next: As the park prepares to welcome visitors this summer, Parks staff have applied for grants to support Phase Two construction.

The bottom line: The reopening of Kayak Point Regional Park is a welcome development for the community, despite the ongoing construction and changes to the park's amenities.

The county's commitment to improving the park demonstrates the importance of this beloved saltwater destination for residents and visitors alike.

🎥 How You WIN a Seattle Bidding War Like a PRO in 2024

…That’s right! The market is hot and bidding wars are back. But don’t worry, I’ve created an expert guide for you to navigate this market as a buyer.

🌄 9 Best Small Towns To Retire In Washington In 2024

Driving the news: Washington State offers a diverse array of small towns that cater to the needs and preferences of retirees, making it an ideal destination for seniors looking to spend their golden years in a picturesque and welcoming environment.

Details: The nine best small towns to retire in Washington in 2024 are:

Gig Harbor - Known for its stunning waterfront settings and proximity to major cities like Seattle and Tacoma. Home prices in Gig Harbor average $870,000 in 2024.
Snohomish - Offers a laid-back countryside lifestyle and a tight-knit community. It’s close enough to Seattle to drive into the city to enjoy amenities and events. Snohomish home prices are valued at around $710,000.
Centralia - Provides a balance between city and small-town atmospheres with abundant outdoor recreation. Centralia boasts affordable home prices averaging $385,000.
Anacortes - Attracts nature lovers and watersport enthusiasts with its year-round Mediterranean climate. Home prices here are around $735,000.
Wenatchee - Nicknamed the "Apple Capital Of The World" and ranked as one of the best places to retire in the West by Forbes. Wenatchee strikes a median balance with home prices at $469,000.
Sequim - Boasts favorable climates and is surrounded by the majestic Olympic Peninsula. Sequim home prices are around $515,000.
Hoquiam - Home to multiple natural attractions on the coast and ranks as one of the most affordable retirement destinations. Hoquiam ranks as one of the most affordable with home prices at $206,500.
Walla Walla - Known for its wine production, lively central district, and entertainment options in the southeastern part of the state. Walla Walla home prices average $462,500 in 2024.
Sunnyside - An agricultural community with endless events, desirable weather, and a strong cultural edge. Sunnyside offers affordable housing with home prices at $450,000.

Why it matters: Retirees prioritize various factors when choosing the ideal small town to spend their retirement years, such as serene natural surroundings, maximizing the value of their savings, state tax exemptions, exceptional air quality, favorable climates, and friendly locals.

Washington State offers a perfect balance of these factors, making it an attractive destination for seniors.

The big picture: Washington's small towns cater to a wide range of budgets and preferences, from the expensive waterfront homes in Gig Harbor to the affordable agricultural community of Sunnyside.

Each town has a unique character, attractions, and local events that contribute to a fulfilling retirement lifestyle.

Between the lines: While each small town has its unique appeal, they all share common characteristics that make them desirable retirement destinations, such as access to healthcare facilities, senior living options, and a strong sense of community.

What's next: As more seniors look to retire in the coming years, these small towns in Washington are expected to see an influx of retirees seeking the perfect balance of natural beauty, affordability, and community engagement.

The bottom line: Washington state's small towns offer retirees a diverse range of options to suit their needs and preferences, making it an ideal destination for seniors looking to enjoy their golden years in a picturesque and welcoming environment.

🤔 What Are the Four C’s of Credit? How Lenders Qualify You for a Mortgage

Driving the news: Understanding the four C's of credit is crucial for homebuyers seeking to qualify for a mortgage.

Details: The four C's of credit are:

Credit: Lenders review credit history and credit score to assess a borrower's track record of making payments on time.
Capacity: Lenders analyze income, savings, employment status, and debt-to-income ratio to determine a borrower's ability to repay the loan.
Capital: Lenders consider a borrower's savings, investment accounts, and other funds that can be used for the down payment and closing costs.
Collateral: The home itself serves as security against the loan, and lenders order an appraisal to determine its value.

Lenders evaluate credit, capacity, capital, and collateral to determine a borrower's eligibility for a home loan.

Why it matters: Understanding the four C's of credit empowers homebuyers to set themselves up for success in the mortgage underwriting process.

By focusing on improving credit scores, managing debt, and maintaining cash reserves, buyers can increase their chances of securing a favorable home loan.

The big picture: While lenders may have specific qualifications for home loans, the four C's of credit serve as the foundation for mortgage approval.

When seeking a home loan, homebuyers should start preparing early by paying down credit card balances, keeping credit utilization low, and discussing their income situation with a licensed mortgage professional.

Between the lines: Even if a borrower is approved for a certain mortgage amount, it's essential to consider the total budget and leave room for unexpected costs.

With surging inflation, homebuyers should aim for a comfortable mortgage payment that allows for potential increases in other expenses.

The bottom line: By understanding what lenders look for and taking proactive steps to improve their financial profile, homebuyers can navigate the mortgage process with confidence and success.

📊 Our Current Local Market Data

The real estate market is hot in Snohomish County!

If you want to buy a home in this market, you’ll need a solid strategy for searching and making strong offers. Your home search could take a while, but you’ll have to move quickly when you find a home you like.

I’m staying on top of the market daily and there are even financing options that can help you purchase at a lower rate.

If you ever have questions, don’t hesitate to ask.