Real Estate Blog

"For a Special Breed of Homeowners"There is a new 18 lot equestrian community currently being developed in East Wenatchee.    The "Highland Estates", situated over the ridge (below) the Highlander Golf Course, is touted as being "For a Special Breed of Homeowner".  The lots are 2 acres each and the community will feature a private equestrian facility and a 37 acre riding trail.   For additional information, individual listing details, or a plat map of this new home community for horse lovers, please contact:
Carol@TopPropertiesWenatchee.com

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Current Wenatchee real estate info, news & trends

source: New Equestrian Community Coming To East Wenatchee

A few weeks ago, I started another blog called "Wenatchee: Birth-Of-A-House" which is solely for the purpose of following the process of having a custom home built with my clients, Wayne and Susan Gerald.  This will chronicle EVERY step of the process, including choosing a lot, selecting a builer, identifying and customizing a floor-plan,  and on through the completion of the home.    Over the next several months, I will post photos and commentary covering the process step-by-step.

Carol@TopPropertiesWenatchee.com
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Follow the construction of a custom home being built
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source: The Birth-Of-A-House Blog

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

I would like to try to make some sense of the insanity that is settling into the local real estate market right now, but I’m not sure it’s possible. 

As I was driving around Wenatchee, East Wenatchee and Malaga today, looking at new listings, I came across several random lots with For Sale signs.  I called each of the listing agents to get some details and each one told me they have offers pending on them as of the last few days.  These are lots that have been sitting for quite a while, and not in prime locations.  

Although there is plenty of new development going on, it appears these scattered lots are being scooped up… probably by independent builders desperate for a spot to build.   The small independent home builders are having a difficult time finding building lots.  Development of a large parcel is so expensive (and time consuming) that it’s prohibitive for the smaller builder.   The larger parcels that are being developed are being controlled by the developers, leaving the "little guy" scrambling. 

Carol@TopPropertiesWenatchee.com
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Latest Wenatchee Real Estate News, Info, Trends

source: Building Lots Scarce

Earlier in the week I posted some links to the inventory of homes for sale in the $250,000 and under price ranges.  Through my comments section, I was asked to post what is available over $250,000.  Here is a link to the inventory of single family homes in the Wenatchee and East Wenatchee area from  $250,000 - $400,000. 

Here is a link of the inventory of homes from $400,000 - 2,500,000.  The most expensive home is a log home on the Columbia river.

These links are for inventories of single family homes (Wenatchee & East Wenatchee) only and do not include condos and/or manufactured homes on land or acreage.   These links will be good for one month, but inventory is subject to constant change.  Home sell and news homes come on the market every day, so please contact me for the current status of any specific property. 

 If you wish to see some additional information posted, please let me know.  
-Carol

Carol@TopPropertiesWnatchee.com
http://TopPropertiesWenatchee.com
http://www.CarolsWenatchee.com
http://www.RealEstateSuccess.bogspot.com

source: Wenatchee Homes For Sale $250K - $2.5M

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…

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?

As I meet new people, I am constantly being asked how business is for Wenatchee real estate .  As other housing markets across the U.S. see a slowdown and price declines, we continue to experience unwavering expansion and rising prices.  There is no sign of  an impending slowdown in the local area, and an article in the Wenatchee World newspaper Monday seems to agree.    If you have trouble accessing the full article through the link provided, please let me know and I’ll figure out another way to deliver it to you. 

The inventory of  homes available for sale appears to be down, while sales are up.  The number of new building permits being issued is also up.   This expansion reflects activity in the immediate Wenatchee area, but it is also creating pressure (on prices) in the Rock Island, Malaga, Cashmere, Leavenworth, Orondo, Chelan and other outlying areas.  Despite this upward trend on prices, many home buyers find our prices relatively attractive compared to other markets.   As prices continue to increase in the immediate area, I anticipate a trend toward additional pressure on the further outlying areas of the Columbia Basin, such as Moses Lake, Ephrata, and Soap Lake.  

Our strong, diverse, economy and the influx of baby boomers buying second homes for recreation and retirement is a significant factor in the overall activity.    As mentioned in a previous post, there is significant growth anticipated in the Wenatchee area during the next 20 years.

source: Wenatchee Real Estate Still Hot

Want current info, news and trends on Wenatchee real estate and the surrounding area?  I hope this blog has become THE one stop resource you want and need.   This blog started under another name but quickly evolved into what you see and experience here at Carol’s Wenatchee.    Over the last year, I’ve made 191 posts to this blog and 117 to the original blog (which is still in existance under an investment theme now).  I take this self-appointed assignment to keep you informed of everything relating to real estate in the Wenatchee area (and throughout  North Central Washington) very serious!  This is a big time committment but I enjoy it and hope you find it useful.

Before I started these blogs I did some research as to other sources of  ongoing current news, info and trends in our local area.  I didn’t find anything convenient so I determined there was a definite need.  I did find one other blog covering Wenatchee real estate but it was posted to very infrequently.  A recent view of that blog revealed that over the  last year there have been only 14 total posts, with long gaps.      My blogs average over 25 posts per month!

It is my philosophy to do things with skill, dedication and enthusiasm.  That’s true in my life, my blogging efforts, and certainly true when  working with home buyers and sellers.    If you’re looking for a source of current news in the real estate market, I hope you will bookmark and visit this weblog often.  If you’re looking for an experienced agent, dedicated to superior customer service, while enjoying the process,  I look forward to hearing from you:
Carol@TopPropertiesWenatchee.com

http://TopPropertiesWenatchee.com (Complete local and nationwide property searches)
http://RealEstateSuccess.blogspot.com (Investment real estate blog)

http://TreeDoctor.blogspot.com (Yes, I have a life outside real estate)
http://CarolsGolfSeason.blogspot.com (Logging my 2006 golf season)

source: Current Wenatchee Real Estate News, Info & Trends

The current real estate boom in the Wenatchee Valley  could turn into a full fledged explosion.  This past week-end’s Wenatchee World newspaper had a comprehensive article on the anticipated growth for the area over the next 20 years.   It is projected the Wenatchee population could increase as much as 50% by the year 2026. 

The big question is how will this impact Wenatchee and the entire surrounding area.  The answer lies in how well a comprehensive growth plan is developed and implemented.   For the full text of the article, covering:  1) Parks, Recreation & Culture, 2) Public Facilities, 3) Economic Development, and 4) Land Use and Transportation, click here.   If you have trouble accessing the article, please let me know and I should be able to e-mail direct to your in-box. 

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

source: Real Estate Boom In Wenatchee