Real Estate Blog

Here’s the Monday evening sky outside of my home just before a huge rainstorm dumped buckets of rain.  Within minutes of taking this picture, we experienced a rainstorm like I haven’t seen here in many  years.  There was serious lightning, thunder and rain for about 20 minutes, leaving raging rivers, mudslides up the Entiat, and the nuisance of some plugged storm drains around the valley.   

After a good gully-washer like that is a good time to check property (for leaks, unstable soil, etc).  It rained so hard, I got to wondering if the building lot some clients are interested in had any serious erosion.   I drove to the Peach Haven II subdivision in East Wenatchee and was pleasantly surprised that everything was still intact.  The road wasn’t even muddy, which gives me confidence that the lots are very stable. 

After a rainstorm is a good time to shop for a home or land.  It’s pretty hard to hide potential issues associated with unusual amounts of rainfall.

Carol@TopPropertiesWenatchee.com
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source: House Shop After A Storm

From Skyline Drive, this is looking North and down on the mighty Columbia River cutting through the Wenatchee Valley. Wenatchee is in the foreground  and East Wenatchee in the background on the right of the river.      What you can’t see in the photo is where the Wenatchee River flows into the Columbia (on the left) just below the bridge in the center portion of the picture. 

The Columbia River is truly at the center of our economic strength, providing water to irrigate the fruit orchards,  produce hydro-electric power and support our vast recreational opportunities.  The Hydro power production literally provides some of the least expensive electric rates in the entire nation.  This has been a significant factor in attracting Yahoo and Microsoft to expand into Central Washington.    The Columbia River is the most hydroelectrially developed river in the world. 

The Columbia River flows approximately 1200 miles, originating in the Canadian Rockies of British Columbia, winding through Washington state, and taking a westerly turn to separate the southern border of Washington State and the northern border of the state of Oregon. 

The Columbia River is truly the "signature" feature of our beautiful valley.

Carol@TopPropertiesWenatchee.com
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source: The Mighty Columbia River

Here is an excerpt from today’s Wenatchee World:
"Work has begun on a temporary access road to Fancher Heights.   The road is expected to open next spring and may one day become a permanent extension of Eastmont Avenue to relieve traffic congestion on Sunset Highway.   For now, though, it’s little more than a dirt track running from the end of Eastmont Avenue north to about Northeast 31st Street, then cutting up to Fancher Heights.

“They’ve pretty much scratched a pilot road all way to the top this week,” said Douglas County Engineer Jolene Gosselin.

The work on the road will continue through the summer, though the road will not open to the public until next spring. It will serve as an alternate route to Fancher Heights when the county closes Badger Mountain Road for renovations. It will be a two-lane oil-and-gravel road."

For more details on this project, contact me:
Carol@TopPropertiesWenatchee.com
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source: Second Access Road To Fancher Heights

For the last few weeks, I’ve been negotiating with a builder to assist some clients to get a custom home built.  About 3 weeks ago, we spent 4 hours on-site discussing everything the buyers wanted.  Eventually, the builders came back with an estimate of costs.    So, we sat down over a conference table last Saturday to hash out the details.  At that time, the builders indicated they wanted to work on a "cost plus" basis.  This means cost of materials, labor, plus a guaranteed profit margin for the builder.   My buyers wanted a day or so to make a final decision.   In the meantime, the builder came back with an "actual list price".    Without going into all the details, let me just say this sounded safer for the buyers knowing they would be locked in with an actual price.  So, we agreed to their terms (with a couple of minor conditions attached).    WELL, the builder came back to us this morning saying they WON’T attach an actual price to the home until the home is framed and drywalled.   This could be 3 or more months away because it will take 5-8 weeks just to get the permit approved, then the foundation must be poured before the framing can begin.   Good grief.  What a merry-go-round. 

The gist of the apprehension on the builders part is that costs are going up so fast, they are literally scared to set a price this far out from completion.   Don’t ask me why they made the offer in the first place.   In the meantime, what do my buyers do?  Do they wait or do they go shopping for a different home that has an actual price attached?   

Stay tuned…

Carol@TopPropertiesWenatchee.com
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Residential Blog

source: New Construction Dilemma

The average sale price for single family residences so far in 2006 in the Wenatchee real estate market has been $208,000 while East Wenatchee home sales have averaged $223,000.   We currently have 46 listings in the Wenatchee / East Wenatchee market area in the $150,000 - $250,000 price range.  Here is a link to that inventory of homes for sale. 

Moving into a lower price range, there are only 27 homes listed for sale in the $100,000 - $150,000 price range.  Here is a link to that inventory.    Many of the homes in this category are older and may have needed updating and maintenance issues.   

With such a limited inventory in this more affordable price range (100K - 150K), I researched the inventory of condos and manufactured homes in that same price range.    There are only 15.   

There are only 7 single family home listings under $100,000.     

If you want a specific search done, please let me know and I will customize a search for you.    And, as always, inventory changes constantly and cannot be guaranteed.   These links will only be good until June 23, but the inventory willchange drastically by then. 

When you bring up the spreadsheet, it you click on the listing number a screen will come up giving you an option of a "summary" "full information", "photo tour", "documents"… etc, etc, etc. 

Please contact me for a current list of homes for sale in any given price range.

Carol@TopPropertiesWenatchee.com
Do your own search of homes for sale  (This is not as customizable as my access to the MLS)

source: Wenatchee / East Wenatchee Current Home Inventory

Wenatchee Center Hotel At Second & Wenatchee AvenueHere is the Wenatchee Center Hotel, located just across Second Street from the Bank of America Performing Arts Center at the Stanley Civic Center, in downtown Wenatchee.  The onsite restaurant, on the top floor of the hotel (overlooking the Columbia River) is the Wenatchee Roaster & Ale House.   

Here is a link to some other lodging options in the Wenatchee area.

Carol@TopPropertiesWenatchee.com
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source: Wenatchee Center Hotel

Wenatchee is in the news again and and local real estate values will apparently benefit.  This time the good news is that Wenatchee has been placed #2 in the entire nation (on the "Money" list) of  cities in the U.S. that will experience significant appreciation in real estate values over the next 12 months.   While there is considerable discussion across the country about deflating values and the so called "bubble" bursting, Wenatchee is poised for continued growth and price appreciation.    Washington holds 16 of the top 21 spots on this nationwide list.  This is phenomenol.

While the nationwide average for home price increases in the next year is forecast at 3.5%, Wenatchee is forecast to see a 16.7% increase.   That means if you own a $200,000 home, the value should increase to $233,400 by this time next year (or $2,782 per month)… not a bad little income.    This also means if you’re in the market to buy, time is of the essence.  Now is definitely the time to buy before prices go up any further. 

Much of this forecast, of course, is a result of the strong economic forecast due to the anticipated job growth in the Wenatchee area.   I wrote about this a couple days ago.

If you have specific qestions about the market, please contact me:
Carol@TopPropertiesWenatchee.com
Search the Wenatchee MLS

source: Home Forecast: Where The Growth Is…

Western Sky from our driveway. Click to enlarge imageCouldn’t resist posting a picture of this evenings western sky at sunset.    To the east was a beautiful rainbow above the Fancher Heights area. 

Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com

source: Wenatchee Evening Sky

This last week-end was the finale of the 2006 Washington State Apple Blossom Festival in Wenatchee.  The 10 days of festivities were capped off with a 2 1/2 hour Grand Parade on Saturday.    Although I didn’t actually go to the parade, I did get some pictures of the floats as they were being staged at Triangle Park prior to the parade.  

When you’ve lived here as long as I have, you tend to purposely avoid the crowds, instead of getting in the middle of them.  On Friday afternoon, we did go to the food fair and wander through the craft booths.  The food/craft fair is held on the lawn of the Chelan County Courthouse  which is just to the right from the picture above.  Also on the courthouse lawn is an entertainment state, where they have entertainers lined up for the 10 days of the festivities. 

The Kiwanis have probably been serving pancakes at Triangle Park (prior to the Parade) for about 50 years.  It’s really quite a good breakfast and we do go to that each year with friends.  They serve BIG pancaks and scrambled eggs with ham pieces in them… and lots of strawberry and apple topping for those who want it.  In the picture below, the front table (left to right) is my husband, Max, and our friends Carl and Tom (across from Carl on far right).  Click on any image to enlarge .  
Kiwanis Pancake breakfast - 5/6/06
Staging Apple Blossom Floats - 5/6/06
Apple Blossom Craft Booths - 5/5/06 
June Dorner & Max - 5/5/06

source: Apple Blossom Pictures

As I watch what is happening with growth and pricing increases in Wenatchee and the surrounding areas, I can’t help but think the staggering price increases in the Seattle area, and western Washington in general, is having a significant effect on what is happening here.  

Much of the current activity in North Central Washington is coming from buyers with a "west side" address.   They’re looking for investments and are being forced east by relative value for the money.   Now I see a ripple moving further east, with my very own Wenatchee area investors buying investment properties out in the Columbia Basin because prices have increased so much in the local Wenatchee market area.     There a multitude of reason why people are buying here, of course, but this "west side" factor certainly appears to be valid and significant.

We welcome these buyer, of course… but must realize, accept, and plan for,  how it will affect not only property values but the overall economic and social impact.  

Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com

source: Is Seattle Real Estate Fueling Wenatchee Prices?