Real Estate Blog

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

Today was the Wenatchee real estate agent’s new listings tour day again… as is every Wednesday.   We’re definitely seeing a typical Spring surge in new listings, in all price ranges.    If you, or anyone you know, is considering selling I recommend getting your property on the market before the competition gets too fierce.    There are buyers waiting for new inventory to come on the market after winter so it is a good time to sell. 

On the other hand, local economic factors for the Wenatchee area indicate the real estate market should remain strong so, if you prefer to wait a few months to prepare your home for sale, the selling atmosphere should remain positive.   

According to Bankrate.com today, the current interest rate on a fixed 30-year interest rate is 5.89%.  Of course, many factors will determine the actual interest rate any given buyer can obtain.  And, there are dozens (even hundreds) of loan programs so quoting a daily rate is for general informational purposes only. 

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

source: Wenatchee - Spring Listings

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

Here are some actual closed single family residence home sales (including price) for Wenatchee, East Wenatchee,  Malaga, Waterville, Cashmere and Leavenworth.  These are recent closed sales recorded between March 1st & 23rd.   

Wenatchee, Washington home sales:
1313-B Washington (Condo) - $66,000
507 Red Apple Road - $134,500
925 Corbaley - $139,900
722 Schons - $139,900
507 Cedarwood - $155,000
1488 Trisha - $165,072
1020 First St. - $167,000
1529 Westwood - $170,000
1707 Ninth St. - $170,000
407 Canal Blvd - $174,050
1551 Miller - $197,000
1512 Trisha - $213,750
114 S. Franklin - $247,500
1952 Grandview Loop - $252,900
2104 Honeysett - $259,900
2013 Linville - $275,000
1403 Castlerock - $353,900
4055 W. Eagle Rock - $415,000

East Wenatchee, Washington:
100 Simon #11 (Condo) - $78,000
100 simon #15 (Condo)  - $78,000
100 Simon #19 (condo) - $78,000
694 DeGage - $168,500
1280 Canyon Court - $177,323
2474 Highland Place - $180,000
824 N.E. Etta - $187,000
658 Highline Drive - $206,000
25 S. Mandolin - $249,000
807 N. Kentucky - $210,500
1020 N. Grover - $282,000

Cashmere, Washington:
107 White Birc Place - $199,900
9350 North Ford Road - $555,000

Waterville, Washington:
226 W. First St. - $129,900

Entiat, Washington:
14907 Golden Delicious - $90,500
14958 Golden Delicious - $97,000

Malaga, Washington:
3041 Vera Cruz - $133,000
3069 Monterey - $169,900

Leavenworth, Washington:
21706 Colt Road - $135,000
17051 Chumstick Hwy - $153,500
475 Alpine Place #4 (Condo) - $183,500
7118 Icicle Rd - $258,500
16129 Cedar Brae - $525,000
17917 River Road - $675,000

This is not ALL the closed sales for this period, but is a representative cross section.  If you want information on a transaction that does not appear here, please contact me direct.   All information is subject to public record.

* All information is deemed reliable but cannot be guaranteed.

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

source: Wenatchee Area Homes - Recent Closed Sales

Today’s Wenatchee area real estate agent home tour took us to a rare riverfront listing… a 3700+ square foot home, with over 3 acres and 1200 feet of  Columbia River waterfront.  It is a hand peeled log home with pool, spa, sauna, boathouse and an older mobile home for a guest house or rental.  It is priced at a cool $2.5 Million.  If you’d like some additional info on this home, please e-mail me a request for MLS #676405 :  Carol@TopPropertiesWenatchee.com

It’s definitely Spring because we are seeing more homes coming on the market, as is typical for this time of year.   Prices on today’s tour (excluding the riverfront property) was $154,900 - $335,000. 

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

source: New Riverfront Listing

There was an interesting post on a financial blog I follow… All Things Financial.  JLP, the blog owner, asked for contributions  from across the country for what $300,000 will buy in the various real estate markets.   There was a huge difference from market to market.  Check this post out.  You can buy a near mansion in Indianopolis, but not so much in New York or London.

For information in the Wenatchee real estate market area, contact:
Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com
http://RealEstateSuccess.blogspot.com

source: What Will $300,000 Buy?

Although I’m still officially on vacation, I did a quick foreclosure search today.  Here is a summary of current foreclosure inventory in the Wenatchee & North Central Washington area: 
  Wenatchee: 3 foreclosures, 3 pre-foreclosures
   East Wenatchee: 1 foreclosure, 1 pre-foreclosure
   Chelan:  1 foreclosure, 1 pre-foreclosure, 1 bankruptcy
   Leavenworth: 1 foreclosure, 1 pre-foreclosure

I don’t send out daily updates, but if you want a list of foreclosures at any given time, please let me know and I’ll do a current customized search for you.  I can do local, state, or nationwide searches. 

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

source: Wenatchee Foreclosures

On my other real estate blog, which focuses on the investment side of real estate, I posted some information about developing foreclosure trends for the coming year.  Although I feel our local Wenatchee real estate market is not really typical at this time, it’s interesting to follow the overall foreclosure trend, which does affect real estate in general.  Here is the excerpt from that post:

Recent reports indicate the number of real estate foreclosures nationwide could increase by about 25% this year. This does not mean, of course, that 25% of loans will go into default. Less than 1% of loans nationwide have been going into foreclosure, so that is the number being used as the basis. So, this 1% could increase to about 1.25% of the total in the coming year.

If you have specific questions about Wenatchee area real estate, or current foreclosure inventory, please contact me:
Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com

source: Will Foreclosure Inventory Increase?

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

source: Working With Discount Real Estate Brokers