As dogs get older, you might start to see skin growths. It's always best to have the vet check it if you are concerned. I was worried about skin growths on one of my dogs; she has about 3 of them now, but the vet looked at them and said they are nothing to worry about. You might even want to keep that area shaved a little shorter so you can keep an eye on it.
Definitely good to bring growths to your vet's attention, but yes, Gracie grew lots of warts in her senior years. I had to be very careful not to catch them while grooming, as they bled easily.
Peggy (who is only 17 months) recently had a little bump, and it turned out she had a very sharp splinter trapped under her coat. She was acting anxious for days and I had no idea why. I removed the splinter and it was like she breathed a sigh of relief. No more anxious poodle.