I’m looking for individual building lots, and particularly lots zoned for multi-family structures… duplex, 4-plex, apartment complexes. Lots in the Wenatchee, East Wenatchee, Malaga, and Rock Island areas will be considered.
Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com
http://RealEstateSuccess.blogspot.com
Recent employment reports should bode well for the continued strength in the real estate market here in Wenatchee, Washington. Homes and land are selling well, and there is a lot of commercial activity going on.
According to a recent article in the Wenatchee World newspaper, Chelan & Douglas counties gained 2,300 more jobs in the non-agricultural sectors, during Feburary than in the same period last year. This computes to a 6.5% increase and nearly twice the Washington state average of a 3.5% increase
Of the 2,300 new jobs, it is reported that 700 were in construction, 400 in retail, 300 in education & health services, 200 in hotels & restaurants and 200 in government (which includes school jobs). The rest were classifid in "miscellaneous" categories. Overall, the state employment figures seem to be the strongest in about 10 years.
This employment news, along with our diverse local economy, creates a sense of confidence in a strong atmosphere for real estate sales in the Wenatchee (and surrounding) area. Our diverse economy is currently supported by major employers in the following areas (not in any particular order): hydroelectric power production, aluminum production, agriculture, medical services, government, education and administrative services… AND, of course, tourism.
Life is good in Wenatchee!
e-mail: Carol@TopPropertiesWenatchee.com
Search properties: http://TopPropertiesWenatchee.com
source: Wenatchee Employment Outlook
Today I was contacted by a prospect to show her a specific property that was listed with one of the local discount real estate brokers. I searched for this particular property in the Wenatchee MLS and it was not there, which means they listed it as an exclusive listing not to be shared with the rest of us agents. I contacted the listing agent and he said I could indeed show the home, but the seller would not pay my service fee and I would have to add that into the offer. This is why I don’t like working with the discount agencies. It gives me no incentive to actually do what is best for the client.
But, being who I am, I did do what was best for the client. I told her that the home is available but I would not be able to represent her on the transaction because I wouldn’t get paid, unless she was willing to pay me. I knew this wasn’t an option because she is already on a very tight budget. I was honest and told her I could not work for free. Not only am I not willing to work for free, but it doesn’t make sense to take on the liability of a transaction without the compensation to justify it. My client understood, of course, and is NOT pursuing the purchase of that particular property.
It is experiences like these that makes me wonder if sellers understand the disadvantages of working with a discount agency. To be fair, I admit to have worked for one ofthese discount agencies (twice). I like the concept and I think it’s great when (and if) I can save sellers money. I’ve even been known to show people do a For Sale By Owner transaction if I think it best serves them!
Anyway, when I was a listing agent at the discount agency I would prep my clients upfront that it’s important to get as much exposure as possible and price the home in such a way that they can pay a selling agent fee if necessary. I never had anyone object to that approach. The plus side is the home might actually sell without paying the extra selling side fee. It’s certainly worth a try, BUT it’s also necessary to cooperate with the MLS agents to get maximum exposure. This is part of the supply and demand of economics and actually creates more demand (and therefore higher value) for any given property.
The downside, then, of listing with the discount agencies is that we "conventional" agents are suspicious that we won’t get paid for our efforts, so we don’t make any particular effort to sell those properties. I don’t mean to insinuate that we purposely avoid working with these agencies listings… but, with our limited time, we do have to make choices and it only makes sense to make the choice to put our efforts where we think we will be compensated. I admit it. You’d do the same, I suspect. The opposite approach to discounting the fee offered is to offer a bonus. That certainly gets more positive attention.
Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com
Today the local North Central Washington Multiple Listing Service launched a new MLS system, called FlexMLS. This is going to be an excellent program once I figure out how to use it in my Wenatchee real estate business. After some initial glitches getting me online with the system, I spent much of the day familiarizing myself with the overall structure of this software program.
This new MLS system is quite exciting because it seems to be aptly named as it is very FLEXible for serving clients. I will be able to set up daily, weekly or monthly e-mail notifications when new listings come on the market. I can totally customize these property searches for each person. I can e-mail Photo Tours and listing reports to you on demand. All you need to do is tell me what you want in a home or investment property (price, size, age, location, blah, blah, blah) and I will set it up for you to be notified any (or every) day of the week as new listings come on the market.
My primary real estate website also has an auto notification feature but, honestly, this system is far better because it gives us more flexibility in setting up specific search criteria.
As we move into late winter and toward early Spring, there will be significantly more listings coming on the market. Now is a great time to sign up for this new automatic notification service.
Let me know how I can serve you!
Carol
Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com
source: New Wenatchee MLS System
Mission Ridge, Wenatchee’s high quality local ski area, will open for the 2005/2006 ski season on Saturday, December 3rd.
“We finally have that magic “combination" of natural snow and the low temperatures needed to make snow, so that we are ready to throw open the gates” said Jerri Barkley, Director of Marketing at Mission Ridge Ski and Board Resort. “The newly expanded snowmaking system has already been able to produce more snow than we made all of last year”, said Mike Bourton, Director of Mountain Operations
Mission Ridge is truly an excellent ski area, featuring lots of light powder snow and a wide variety of runs for skiers of every skill level. The new high speed quad chair (which isn’t running quite yet) has been much anticipated and should be a much appreciated asset to the slope. And… even though we are currently getting lots of real snow, the expanded snowmaking capabilities will also be a great advantage to a consistent and extended season for the upcoming months.
e-mail: Carol@TopPropertiesWenatcee.com
website: www.TopPropertiesWenatchee.com
investment blog: www.RealEstateSuccess.blogspot.com
source: Mission Ridge: 2005 Opening
Following is a Wenatchee real estate
(and surrounding areas) market
sales activity summary…
Wenatchee / East Wenatchee / Malaga / Rock Island area:
Residential single family:
Sold: 101
Avg price: $221,829
Avg. days on market: 99
Condos:
Sold: 7
Avg price: $201,000
Avg days on market: 160
Manufactured Homes
Sold: 14
Avg price: $91,108
Avg days on market: 97
* * * * *
Cashmere area:
Residential single family:
Sold: 11
Avg price: $183,791
Avg. days on market: 113
Note: If you’d like to compare to July’s market activity summary, click here.
source: August 2005 Home Sales
Here is a sign of the developing tangled economic web that Hurricane Katrina is weaving. Last week I posted an article about my concern over the potential for dramatic increases in the cost of new construction, here and across the nation. Yesterday I heard that some of the local (Wenatchee) box stores are restricting the amount of lumber an individual can buy. I haven’t been to any of the stores to confirm this story, but certainly would not be surprised by this development. I wonder if this is just for the at-home-handyman or if restricted sales include builders.
In many ways our Wenatchee real estate market is unique and unaffected by other parts of the country… yet, in a situation like this, we are at the mercy of the law of supply and demand just like any other market area.
source: Lumber Sales Being Restricted?
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