Real Estate Blog

Click on image to elargeI love Fall for the mild weather but, more than that, for the beautiful changing colors.  As I’ve been out driving the last few days, I couldn’t resist taking some pictures of these two classic homes in the heart of Wenatchee. 


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Contact Carol Williams for Wenatchee real estate: Carol@TopPropertiesWenatchee.com

source: Two Classic Wenatchee Homes

As winter approaches, I continue to get a lot of people asking me if the real estate market is slowing down here in Wenatchee.  Is it still a seller’s market or is it more of a buyer’s market, with more inventory than buyers?  

Today I did ran some statistics and here’s what I figured out:
Under $200,000: Strong seller’s market.   More demand than supply.
$200,000-$250,000: Balanced market.   Balanced supply and demand.
$250,000 & up:  Buyer’s market.  More supply than demand.

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For answers to your real estate questions, contact Carol:
   Carol@TopPropertiesWenatchee.com

source: Is It A Buyers or Sellers Market?

Fall at Fancher HeightsI was pleased to read in tonight’s edition of the local paper, the Wenatchee World, that Wenatchee topped the list of safest cities in Washington State.   Here are the first two paragraphs of the article:

"WENATCHEE — The Wenatchee area has been listed as the safest metropolitan area in Washington in an annual ranking of the nation’s safest and most dangerous cities.

Nationally, Wenatchee ranked 83rd among 344 metropolitan areas with populations of 75,000 or more. The list includes a dozen cities in Washington and two that cross into Idaho and Oregon."

What a great piece of publicity for this area of North Central Washington!   Here is a link to the entire article.  

While other real estate markets across the nation suffer a downturn, Wenatchee was also recently named  #2 nationally for forecast appreciation of real estate over the next year… but that’s fodder for another blog entry.

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Contact Carol: Carol@TopPropertiesWenatchee.com

source: Wenatchee Named Safest City In Washington

Each Wednesday is the day we real estate agents have the opportunity to go out and look at the latest new listings on the market.    Yesterday, I saw a number of nice homes that were well priced and will probably sell quickly, but I also saw some homes that had no business being on tour.  Here are some samples:

Home #1  Grossly over-priced for the condition.  I’m talking about a home needing serious remodeling that was priced about $100,000 over market value for the condition.     The agent wasn’t even present at the Open house to tell us about the home or how she came up with the price.  Sad thing is, some agents will over-price a listing (to get the listing), knowing the sellers will eventually have to reduce.  This was a waste of my time to even go see and I will not waste my buyers time to show it. 
Solution: Price the home to sell based on realistic current market value.  The home is vacant and we’re going into winter. 

Home #2  The odor of animal urine hit us the second we walked in the door. 
Solution: The carpets had already been cleaned, but a commercial grade air purifier might do the trick.  If not, replace the carpeting. 

Home #3  Dark, dirty, very out-dated and over-priced for the condition.   
Solution: Open the blinds.  Clean the house.  Price it to sell in it’s present condition.

When preparing a home for sale, try to look at the home from the viewpoint of a buyer… not as the seller.

To search homes and land for sale in the Wenatchee, WA MLS, click here.
To contact Carol direct, e-mail her at: Carol@TopPropertiesWenatchee.com

source: Wenatchee Tour Of Homes For Agents

source: Starbucks - Everywhere

Last Thursday there was an article in the Wenatchee World, which was extracted from the Washington Post, that was outlining changing preferences among home buyers.  This article seems to reflect what is happening here in the Wenatchee Valley.    The bottom line is: bigger homes on smaller lots. 

While I was talking to a builder the other day, he indicated they can’t justify building small homes anymore because of the cost of land.  The cost per square foot of the home is too great in relation to total value. 

Here is just an example illustration of what I mean:

Scenario 1
Lot $65,000
1600 square foot home @ $125 per square foot = $200,000
Total cost $265,000  ($165 per square foot)

Land cost equals 25% of the total value

Scenario 2
Lot $65,000
2500 square foot home @ 125 per square foot = $312,500
Total cost  $377,500  ($151 per square foot)

Land cost equals 17% of the total value

The larger home is 8% less expensive (per square foot) than the smaller home.

Given a choice, the builders working on a profit margin, will opt for the higher value every time.   It’s more efficient for them to build one large home rather than two small ones for the profit generated. 

The problem with all of this is that it’s making it more and more difficult to find builders willing to construct the smaller, less expensive homes.   A solution, of course, is to find inexpensive land so the option of building smaller homes is more palatable to the builders.   This will, no doubt, require moving our affordable expansion sights to outlying areas (probably toward the Columbia Basin) with large quantities of less expensive land. 

For answers to your questions, contact:
Carol@TopPropertiesWenatchee.com

source: Smaller Lots, Bigger Homes

Yesterday, I went to the East Wenatchee Costco store to pick up a pizza for the visiting kids and grandkids.   It cost me $222.72!  What happened? 
 

I was hanging out in the electronics department, waiting for the pizza to finish cooking when the in-store cell phone sales rep came up to me and asked if I was ready for a phone upgrade.  Well, it just so happens I was.  I’ve been meaning to do it, but just hadn’t gotten around to it because there is always such a long wait at the local Verizon outlets. 

So, I ended up buying a new cell phone, the Blue Tooth (cordless) headset, the newest John Grisham book  “The Innocent Man” AND, of course, the Pizza.   The final bill was $222.72.   I get a $50 mail in rebate, though, so it will really only cost $172.72 in the end.

Before committing to this new phone, though, I wanted to be sure they could transfer all my saved phone numbers to the new phone.  I didn’t want to re-enter them all again!   They assured me they could, so I agreed.  It was during this time while they were downloading the numbers, that I went book shopping and discovered the newest John Grisham  book is out.   That added $17.59 (including 8% sales tax) to the tab. 

When I went back to see if my new phone was ready, the sales rep looked at me in disbelief and said “Do you know you had 387 phone numbers in this phone? Do you really know 387 people?”

“Well, yes”, I replied.  “I am a realtor and I talk to a lot of people.  Buyers, sellers, realtors, mortgage brokers, appraisers, inspectors, blah, blah, blah. I also have all the numbers for the local golf courses in there just in case I need a tee time.  And, you need to remember, people don’t just have one phone number any more.  They have two or three.  Home phone, cell phone, office phone, etc.  So, I guess I don’t really talk to 387 people, but I do need all 387 numbers.  Believe it or not, I recently deleted a few numbers just to keep it current”.  <snicker>

“Wow”  was the reply.  “This is some kind of a record”.

“Really”, I say.  “What was the previous record?”

“About 157, I think”, says the sales rep.

“So, do I get some kind of prize?”, I ask.

"Just your $50 rebate, I guess”.

“O.K.. then.  I need to go pay for this and call someone.  Thanks for your help. See you later”.

If you have real estate questions, call me and I’ll add YOUR number to my cell phone list.  I still have room for 113 more phone numbers!
     509-670-7840 or e-mail to:  Carol@TopPropertiesWenatchee.com

source: The $222.72 Pizza

source: Boulder Publishes Q4 Net Leased Report

314 E. Ash * Waterville        Click on image to enlargeHere is some statistical info, revealing some real estate market trends comparing the first 9 months of this year with the first 9 months of 2005.  Statistics can be misleading (depending on various factors), so take it for what it is… interesting info, but not gospel.  This info is for detached single family residences.  Condos, manufactured homes on land, and mobile homes on leased land are not included in these figures.

Average sales price:

Wenatchee 2005:  $196,347
Wenatchee 2006:  $221,124  (up 13%)

East Wenatchee 2005: $199,110

East Wenatchee 2006: $234,642  (up 18%) 

The total number of homes sold in the Wenatchee and East Wenatchee areas so far in 2006 was up about 5% over the same time period for last year.  

Featured Value: 
The home pictured above is listed at $99,900 and one of the best values on the market today.  New kitchen cabinets, new range & dishwasher, new flooring and paint throughout, remodeled bathroom with claw-foot tub.  Available as an outright purchase or on Lease-To-0wn terms.

For answers to your specific real estate questions please contact:

Carol@TopPropertiesWenatchee.com

source: Wenatchee Housing Market Trends

At the risk of getting into hot water with the Leavenworth real estate agents, I am cautioning potential buyers to watch the market over the next few months before making a buying decision. 

There was an article in last night’s Wenatchee World newspaper about the upcoming closure of Longview Fibre’s Winton lumber mill 14 miles northwest of  Leavenworth.  According to the article, this will displace 100 workers.  How many of these displaced workers will need to sell their homes.  Will this increase the inventory of homes for sale enough to put downward pressure on prices.  Perhaps.  I will be watching the trend over the next few months. 

You can read the complete article here.  Stay tuned for future updates.

For answers to your specific real estate related questions contact:
Carol@TopPropertiesWenatchee.com 

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source: Caution - Watch Leavenworth Real Estate Values