Wenatchee, WA Real Estate News

By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
There are currently 3 homes for sale in the Broadview subdivision2003 Broadway North @ $519,0002067 Broadcrest @ $565,0002078 Maiden Lane @ $595,000Since the first of the year (2007), there have been 2 closed home sales in Broadview:2059 Broadleaf @ $550,0002010 Maiden Lane @ 579,000In the calendar year 2006, there were 5 closed home sales in Broadview:2063 Broadcrest @ $379,9001901 Broadway @ $455,0002082 Maiden Lane @ $465,0002074 Maiden Lane @ $505,0002008 Broadview @ $645,000* All Information deemed reliable, but not guaranteed.
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
Dear Carol:I own a condo at Washington West in Wenatchee, and bought it for 84,000 about 9 months ago.  I have recently received an offer for 115,000 and I am not sure if I should sell now and buy a house, or hope that my condo continues to go up, and buy a more expensive house in the future.  Please let me know what you think.  Thanks, GBDear GB: I would need to see the condo to evaluate whether $115,000 is a good offer.  But, if you're asking whether I think now is a good time to sell the condo and buy a house, I'd say YES!   Single family residences will continue to appreciate at a faster rate than condos. So, if you wait for your condo to go up in value some more, the houses will rise in price too so you won't really be accomplishing anything.   For example: If your condo appreciate...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
The Stoney Court condo project has moved into the second of seven phases.  The siding has been put on the first building and the foundation has been poured for the second building (foreground). Even though I have reservations on two condos in this next building, for liability (insurance) reasons, the listing agent says I am not allowed on site or in the current building under construction yet.  As soon as they allow, I will go in and take some close-ups of work in progress.
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
Below is a Supply and Demand Report Summary for the price range of $200,000 - $300,000.  This is the "meat" of our market activity right now.  This covers the market areas of Wenatchee and East Wenatchee only and no outlying areas:In Wenatchee we have:82 active listings25 sold in the last 30 days33 pending salesIn East Wenatchee we have:68 active listings|19 sold in the last 30 days14 pending salesThese number show a healthy ratio of sales to inventory.  The current median sales price in the Wenatchee area is around $230,000.
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
The information below is a Supply and Demand Report for the price range of $600,000 - $750,000.    This covers the market areas of Wenatchee and East Wenatchee only and no outlying areas.  This is a report I compiled today for a listing client to show him we are not missing any buyer activity.    In this market, this is considered an upper end price range, with our median price at about $230,000.According to this statistical data, we have an unknown number of months supply with no current pending sales in this price range.Our most active selling range is under $300,000.Supply and Demand ReportFor 6/27/2007 To 7/27/2007Todays date: 7/27/2007Price Range: 600,000 to 750,000In Wenatchee we have:11 active listings1 sold in the last 30 days0 under contract3 expired listingsIn East Wenatchee w...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
As agents, we have one click access to the "24 Hour Hot Sheet".  This is a synopsis of all market activity in the last 24 hours.  This includes new listings of homes, and land as well as a report of newly "pended" sales, "closed" sales, "price reductions", and homes brought "back on market", and "expirations".   Here is a summary of today's Hot Sheet:9 new listings of primary residences  (prices from $218,000 - $755,000)2 building lots listed2 acreage parcels listed9 price reductions5 closed sales 2 homes pended1 building lot pended 2 home listings expired2 home listing extended3 homes back on market1 lot back on market  1 commercial property back on market ("Back on market" reports are usually pending sales that fall through and put back up for sale)If you are thinking of buying or sel...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
My assistant, Shelley, and I got out (as we almost always do) for the weekly (Wednesday) agent tour of homes.  The Wenatchee side tour is from 9:00 - 11:00.  The East Wenatchee side from 10:00 - 12:00.  With our increasing number of homes on tour, it's difficult to get to see them all in the allotted time.   We end up having to pick and choose based on what price range our current buyers are in (and whether free goodies are offered).  Today there were 33 homes on tour.  We only made it to 14.   The least expensive was a manufactured home in Malaga for $135,000 The most expensive was a large home in the Sunnyslope area for $750,000There were several in the mid to high 200's, 300's and 400's. Our favorite home of the day was a large rambler on Madison Street priced at $519,000.  Being in ...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
If you're looking for a great home inspector in the Wenatchee area, we have one more choice... Star Appraisal & Home Inspection service, owned and operated by Wayne Gerald. Wayne has owned and operated his inspection and appraisal business since 1985, but has recently moved from the "dark side"... oh, I mean the "wet side"... no, I mean the "west side"  of the Cascade Mountains to sunny East Wenatchee.  He is now ready to start offering his professional home inspection services in Wenatchee and the surrounding area.   In the future, when he becomes more familiar with the market area, he will be adding his professional appraisal services as well.Wayne is very accommodating to keep our real estate transactions moving along in a timely manner.  He is extremely (and I mean extremely) knowle...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
A recent Associated Press article is a bit misleading as to the strength of the Wenatchee economy.   Here is an excerpt from that article.  My thoughts follow:Bob Seltzer, a local real estate agent, said the boom there is being fueled by an influx of retirees from rain-plagued Seattle who are looking for warmer weather. "The economy here does not support high-paying jobs," said Seltzer. But "people can come from Seattle and buy an equivalent house for half the price."First, let me say, Bog Seltzer is a respected broker of the local Coldwell Banker franchise.  I suspect THE quote was taken out of context from some additional dialogue during the interview.  Unfortunately, this article is misleading about the job market and strength of the overall economy.   We do, of course, have our shar...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
Usually, through the process of selling a home, my husband and I become friends with my clients.  That is just one of the things I love about my job.  After the closing, it's not uncommon for us to get together as a foursome and go out to dinner to celebrate the new home purchase.Always, of course, with relocating clients they insist I choose the restaurant because they don't know the good ones.  So, I thought it might be kind of fun to list my 10 favorite restaurants in Wenatchee:Mexican:  Plaza Tapatia,  1650 Grant Road, East Wenatchee                El Porton,  340 Valley Mall Parkway, East WenatcheeChinese:  The Peking,  350 Simon St.,  East WenatcheeItalian:  Visconti's, 1736 N. Wenatchee Ave., Wenatchee             Garlini's,  810 Valley Mall Parkway,  East Wenatchee (re-evaluatin...
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By Erin Davidson
(The Davidson Team - Premier One Properties)
This week's Featured Local Business of the Week is LeMaster Daniels, Certified Public Accountants and Advisors. Visit their website at:http://www.lemasterdaniels.com/wenatchee.aspWe're featuring LeMaster Daniels because The Davidson Team is a very satisfied client. We take advantage of accounting services for our business LLC, and also have all our accounting/bookkeeping done through Quick Books. LeMaster Daniels also provides consulting and advising for personal and business endeavors.From a cost perspective, they certainly are not the cheapest in the Wenatchee area; they're not the most expensive either. We chose LeMaster Daniels because they offered the best value for the quality of service provided, the people are SUPER customer service centered, and they truly care about their clie...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
I work with a lot of  investors and am always on the look out for good opportunities for them in the Wenatchee area real estate market, including Chelan and Douglas counties.  As active as our market has been, with historic appreciation, sellers have been "testing the market" and pricing  their homes on the high end of the market.  It is more and more difficult to make investments attractive to real estate investors.  Pertaining to single family homes, the current Wenatchee real estate market has two main kinds of investors:  1) The investor looking for newer construction for short term       and long term appreciation through natural market growth.  2) The "flippers" looking for run down properties they can buy       at cheap prices, so they can fix them up and make the quick profit.My...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
 Yesterday I had someone ask me if Wenatchee real estate is going into a downturn?  I responded, "Absolutely not".  They responded with the comment that they are seeing a lot of "Price Reduced" signs popping up around town.Ah Yes... that is indeed true!With all our economic activity and national publicity, the Wenatchee real estate market has been so hot for so long, sellers started getting greedy.  They were putting unrealistic prices on their homes.   The most common statement I hear is:  "We can always reduce the price".  "Well, yes BUT in the meantime we are losing business to the people who have priced their homes right and you have to wait until the market catches up with you".  So, it's a matter of the sellers deciding if they want to test the market or price to sell.What I am se...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
Yesterday I posted a market update on the condominium market in the Wenatchee area.  Today, on my primary Wenatchee real estate blog, I posted some single family housing market statistics for the first half of 2007 compared to the first half of 2006. Similarly to the condo trend:   Listings are up      Closed sales are down         Prices are up significantlyIn spite of all this, it's unlikely our market will see a downturn in prices.  Our market conditions and economy are strong and diverse.   I expect a much needed stabilization.  For the full article go to Carol's Wenatchee Real Estate blog.  With 4th of July coming up tomorrow, I couldn't resist posting this picture of the American flag flying high at the Chelan County, Washington fairgrounds in Cashmere (about 7 miles west of Wenat...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
On my Wenatchee Condo News blog I have posted a year-over-year market summary of condo activity for the first six months of 2007 compared to the same period in 2006.  This summary includes statistics for the Wenatchee, East Wenatchee, and Leavenworth market areas.  Although there are 4 condos available for sale in Cashmere, it is not included in the summary because there is no historical data for comparison purposes.  General observations:   Inventory up.          Closed sales down.           Average Prices mostly up.              Listing price to sales price ratio high.Remember:Information is FREE.   Knowledge, Experience and Integrity Are PricelessHave a great day!                       
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By Erin Davidson
(The Davidson Team - Premier One Properties)
A unique and creative culinary treasure in Wenatchee is the Mission Street Bistro & Wine Bar. Known especially for their crepes, fondues, cheeses and vast wine selection, this small bistro provides a casual yet hip atmosphere.Address:202 N Mission St Wenatchee, WA 98801 Phone:509-665-2406Hours:9am - 10pm Mon-Sat; 11am - 3pm SunIf you're a seafood fan, be sure to try the seafood crepe...it's our favorite!
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By J Perrin Cornell, Broker, ABR, VAMRES
(Coldwell Banker Cascade Real Estate)
Wenatchee's Performing Arts Center is a great addition to life in Wenatchee! They have a wide range of programs. Recently the cast of Whose Line Is It Anyway. In the near future Capitol Steps, Tennessee Three (I am helping to sponsor), plus a season long family/Children program, Opera, dance and Mariachi... to name a few events.But it is non profit. The last two years they have turned the corner and are starting to carry themselves and pay of debt. But it is a small, first class facility in a medium sized town so the specter of financial failure is never far from the door. If you are from Wenatchee and havent yet visited this comparatively new facility...do so. If you have a few dollars in your pocket become a member and if you can afford more buy a seat. For more information contact th...
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
The May Wenatchee area housing statistics are out, and they are up for interpretation: The Dollar volume of homes sold year to date is UP 18%The number of homes sold year to date is DOWN 13%Does that mean supply is short, so prices continue to rise?That would seem like the logical conclusion if it weren't for some additional statistics:   The Dollar volume of homes listed is up 60%   The number of listed homes is up 29%With the number of homes sold DOWN, and the number of homes listed UP, does that mean our market will see some stabilization in prices?  The next few months will be interesting to watch. 
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
The high price and scarcity of land is causing developers to turn to condominium projects as a way of reducing the cost of construction per unit.The (second home) baby boomer buyers and high volume of retirees coming to the area seem to be key targets for many of these Wenatchee condos.  The two main projects under construction in Wenatchee right now are:    Stoney Court Condominiums on Central Avenue, off Western Ave.  ($293,900 - $334,900)   Riverwalk Condominiums on Walla Walla Avenue at the riverfront  ($440,000 - $540,000)For more information on these, and other projects, visit my Wenatchee Condo News blog or contact:Carol@TopPropertiesWenatchee.com .  For general Wenatchee real estate news, info and trends visit my other Wenatchee real estate blog.   
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By Carol Williams, Retired Agent / Broker / Property Manager
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
Link Transit proposes to begin bus service to the Fancher Heights area this coming Fall.  If fully approved, the exact start date will depend on when the Badger Mountain Road project is complete.    If you live in the Fancher Heights area and want to give them your opinions and feedback, take the survey.  If you want general information on current bus routes and schedules, visit the Link Transit website.
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