Wenatchee, WA Real Estate News

By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(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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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
Here is a link to an article in tonight's local newspaper, The Wenatchee World, citing Wenatchee as having the fastest appreciating home values in the entire United States.Values have risen at the rate of 25.6% from March 2006 to March 2007.  We have experienced a 6% appreciation factor for the first quarter of 2007.  This is good for current homeowners, as their nest egg grows fatter and fatter.This is not such good news for first time home buyers who don't have equity from a previous home.  First time home buyers are having trouble saving enough money to make a decent down payment on these increasingly expensive homes. I'm starting to promote a more affordable alternative for the first time home buyers.  This is available through a decent supply of Wenatchee area condos coming onto th...
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
I can't believe it's June already!This reminds me that the Wenatchee Farmer's Market is up and running if you're looking for some fresh, locally grown, produce.    Besides the fresh produce, each Saturday, there will be Master Gardeners on site to answer your gardening questions.  The market is open on a limited schedule until we get further into the growing season.  But, it is currently open Saturdays from 8:00 a/m - 1:00 p.m.   Visit the market website for current schedules and a list of produce varieties expected to be available.  * * * * * FREE search for ALL Wenatchee area homes and land for sale.Current Wenatchee condo inventory and news
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
As I get more heavily involved with out-of-town investors buying in the Wenatchee area, it is becoming obvious another Property Management company is needed in the area.I have one favorite Property Management company to whom I have referred all of my owner and tenant inquiries in the past.  Recently, it's been difficult to get timely service from our inquiries.   In order to assure my investors (and other landlords) are receiving the highest level of priority and customer service, I've decided to expand my property management services in Wenatchee to include single family homes, duplex, tri-plex, 4-plex and other multi family units.  I am also considering doing some vacation rentals. For customized service, please contact me:CarolWilliams@charter.net Update:  As of August 14, 2008, We a...
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
As I was talking with a potential investor this morning, he asked an interesting question I'd never given much thought to.  Wenatchee is in a valley, tucked up against the east edge of the Cascade Mountain range and he noticed how this will restrict the availability of land in the future.  As demand has surged for more homes, development land is already becoming limited and very expensive.  East Wenatchee (Douglas county), which is just across the Columbia river to the east offers more opportunities for future development of land.   Land prices have skyrocketed over the last couple of years (on both sides of the river) and this is a point of  major concern for everyone when it comes to the supply of "affordable" housing that will be available in the future.  Anyway, the investor's quest...
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
I've noticed, over the last several weeks, a trend toward more and more Sunday Open houses.  This week I count 48, which is a lot for our relatively small market area.  The least expensive home on this week's tour is a condo on Skyline Drive for $149,900.  The most expensive is a waterfront home north of Entiat for $987,000.  With a few exceptions, the rest of the homes are fairly well split with in the 200K, 300K and 400K price ranges.Wenatchee real estate sales activity is still strong but I do notice more price reductions coming across the "hot sheet" on a daily basis.  The trend toward more Sunday Opens and the price reductions indicate, despite the strong market, there are still opportunities to negotiate with home sellers.  Search the entire Wenatchee MLS for homes and land, For t...
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
The Wenatchee housing market continues to sizzle.  According to the latest statistical information available from the Pacific Appraisal SNAPSHOT report, the median sales price of homes in Wenatchee is up 32% over this same time last year.    Here are the numbers:The median sales price of a home in Wenatchee is up 32% from this same time last year....    $177,323 to $233,250.The average sales price for a home is up slightly less at 20%...    $217,050 to $259,665.Does the difference in "average" and "median" confuse you?  Median means there are an equal number of homes under and over a given price.  So, in our current market, there are an equal number of homes sold under $233,250 as over that same number.Average, on the other hand, means just that.  You take all the home sales and add the...
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
This photo was taken last month, out the window of the commuter plane, as I flew into Wenatchee.As more out-of-town people are finding me through the internet, I realize how difficult the word "Wenatchee" must be to pronounce for someone who has only seen it printed and not pronounced.  So, for those of you out there who have never actually heard the word Wenatchee pronounced, this article (with a brief history of the area) is for you. Local Native American (Indian) lore claims that the name Wenatchee (pronounced: Wa-Nat-Chee) derives from a poetic description of the area meaning, "robe of the rainbow." The valley's lush panorama is poetic majesty indeed. Situated in the geographic center of Washington State, Wenatchee is down in a valley at 600 feet above sea level, being bordered on t...
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
Every year, the morning of the Grand Parade for the Washington State Apple Blossom Festival, the local Kiwanis club puts on a big pancake breakfast at Triangle Park, where they stage the floats prior to the parade.It's a tradition for us to meet our friends, Carl & DiAnn and Tom & Jane at the Park for breakfast.  Breakfast consists of pancakes, with our choice of strawberry or apple topping, scrambled eggs with ham, and our choice of beverage (apple juice of course, coffee or milk).After filling our tummies, we wander through the park and watch the various cities complete the final touches for the parade.  This is also the time the judging is done.  This is a fun way to look at the floats because you can wander around leisurely, get up close, and even talk with the participants.There ar...
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
One of the most fascinating things about the annual Apple Blossom Festival held in Wenatchee is how soon the parade route starts getting lined with chairs.  People, literally, start putting out their personal chairs along the route about 3 weeks before the parade date.  The local paper, The Wenatchee World, keeps a running total building up to parade day.  Today's paper, the night before the parade, reveals there are:  1,057 chairs currently lined up ready for the parade tomorrow morning.  In addition, there are 47 benches, 2 strolers and 1 playpen.Some other interesting numbers revealed in the paper today:There are 24 food concession vendors at Memorial Park (at the Chelan County Courthouse)Average number of funnel cakes sold on a good day:  1000 - 1500.  I've gotta get one of those bo...
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
In Wenatchee, Washington Spring is when we celebrate the coming of a new crop of apples.  As I posted a few days ago, the Washington State Apple Blossom Festival is hosted here each year.  I thought it might be kind of fun to give you a link to more info on Apples... recipes, varietal and nutrition info and much more.   There's even a section for kids, where they can click on a page and print out pages to make a coloring book.  Stop by and have some fun learning about apples.  Agriculture (apples in particular) is big business in North Central Washington.  Have you had your apple today?
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By J Perrin Cornell, Broker, ABR, VAMRES
(Coldwell Banker Cascade Real Estate)
The other day I was showing a long term client some property in the area. This client, originally from Hawaii, was explaining how wonderful Hawaii was but also how boring... same weather, same wind , same temp same day. On the other hand one of the reason they were locating to Wenatchee was generally good weather but even more important the Four Seasons... Winter, Spring, Summer and Fall. I have to admit, it is one of the features I like best. Not only does it provide a wider array of activities (because of changes in weather) but each season is different; weather patterns, views, and attitudes. Does it get cold and snowy? SURE... but not too cold, not too snowy and it only lasts a few weeks. Hot..you betcha! 102 (ok that's not hot Hot...but it'll do). But again it doesn't last too long...
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
Wenatchee is seriously a-buzz this time of year. It is literally a-buzz with all the worker bees buzzing around pollenizing the apple blossoms... so we have lots of beautiful apples in the Fall. Every Spring is so beautiful during the bloom period. Besides the apple blossoms, the dogwoods are always a  fabulous  reminder that Spring is, indeed, here! Wenatchee touts itself as the Apple Capital of the World, although (these days) trees are being cut down in order to "plant" houses. Apple farmers have so much worldwide competition it is getting more and more difficult to make a profit, so they are selling their land for development. The housing market, unlike the apple market, is hot hot hot. It is a sellers market and it's not uncommon for homes to have multiple offers within a day or tw...
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By Erin Davidson
(The Davidson Team - Premier One Properties)
Here's an interesting article from the Wenatchee World regarding the new $48 million dollar arena to be built on the Wenatchee waterfront.Land deal puts arena on trackhttp://wenatcheeworld.com/apps/pbcs.dll/article?AID=/20070404/NEWS04/704040334/0/FRONTPAGEBy Jay Patrick, World staff writerPosted April 04, 2007WENATCHEE -- A deal Mayor Dennis Johnson called the "linchpin" in the process to build the 5,000-seat Greater Wenatchee Regional Events Center has been worked out after a week of negotiations.Ken Blodgett, owner of the 10-acre plot on Walla Walla Avenue where the events center will be built, said Tuesday that he's agreed to transfer control of the property to Global Entertainment, the company building the $48 million arena."Everything's positive," Blodgett said. "We're in unison."...
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By J Perrin Cornell, Broker, ABR, VAMRES
(Coldwell Banker Cascade Real Estate)
There is a hidden jewel in Wenatchee. Anyone interested in locating to Wenatchee or already living here should take the time to get acquainted with The Performing Arts Center of Wenatchee.Built about 5 years ago for approximately $7MMin public and private funds it is a treasure to the local community. The quality of the facility has received notice. But the quality of the productions is over the top! (Ok, Ok, I am related to the director... my daughter)It really is a valuable contributor to the community. If you haven't take a minute and check out the Performing Arts Center of Wenatchee. You will see acts from Carol Channing to a local dance studio. Contemporary and Classical. It is all there.
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By J Perrin Cornell, Broker, ABR, VAMRES
(Coldwell Banker Cascade Real Estate)
Good question. I guess under it all I grew up here. But I have lived a lot of other places and keep coming back.Could be the weather. With 360 days of sun (according to the CofC and I think some of those days the sun needs to be caught with a stop watch) moderate temps, low rain fall it is an area to be enjoyed.Located at the geographical center of the State the "City" is about 150 miles East and West (Spokane and Seattle) so a quick trip or over night getaway is easy to do.Recreation? Got that. Mission Ridge, a good ski area is about 15 miles away. Lake Chelan (55 miles long) is 45 miles away and Lake Entiat (40 miles long on the Columbia) is 10 miles away. Fishing, boating, climbing and hunting I have all done and all less than an hour from my front door.The city has a nearly new $8MM...
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By Geordie Romer, Serving Leavenworth, Lake Wenatchee, and Plain
(Windermere Real Estate / NCW)
When the Wenatchee World printed an article that said the city was ranked #5 in the country for green cities I was pretty shocked. When I first moved to Leavenworth, I joked with friends from Western Washington that recycling was illegal.Andy Dappen of WenatcheeOutdoors was pretty shocked too. If only it were true. Unfortunately, all I can say about the March 2007 issue of Country Homemagazine that ranked Wenatchee as the fifth greenest city in America is, "What were they smoking?"  writes AndyYou can read the post in it's entirety on MyLeavenworth.com
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By Carol Williams, Retired Agent / Broker / Prop. Mgr, Wenatchee, WA
(Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.)
I was recently appointed the exclusive agent in the Wenatchee real estate market area for a large investment network out of California.  I am now getting calls from the members, even though we haven't offically announced the opening of the market.  Since Wenatchee has received so much national publicity, their radar are up and they are beaming in on buying investment homes here.  Very few of them know where we are or anything about our area, let alone how to pronounce Wen-at-chee .  They have lots of questions.  One of the first things I tell them is what is driving our appreciation.  In a nutshell, it is our diverse economy and great weather.  Our desert like climate, with 300 days of sunshine, is one drawing card but we also have several major employers:  Agriculture, Hydro-electric p...
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By J Perrin Cornell, Broker, ABR, VAMRES
(Coldwell Banker Cascade Real Estate)
I frequently Blog over at my Wenatchee Real Estate Blog and today I was making a general entry about Wenatchee (aka River City) and the general market. I pointed out that I am a bit of a contrarian. That is when everyone, everyplace is talking about how good real estate in Wenatchee is (especially when I am getting a shoe shine in Seattle and the shine guy is telling me) then I think it is time for a little caution. Not saying watch out...yet. Just a little common sense. Anyway drop over to my other site and take a look. You will find lots of topics and information there. Best Regards!
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By Kevin Nelson, MLO-121548
(Mortgage Advisory Group CL-36130)
Regarding #2 and not paying off charge off and collections; Many LO's will agree, this is a tough point to get across to your clients - do not pay off charge offs and collections.As if our job wasn't detailed enough, why add more paper work to the mix?  Here is an example that I came up with on a refinance loan - a family member. At origination my client says "we would like these three credit cards paid off at closing." Sounds easy.  A couple of days before close, they inform me they decided to write a check and pay off two of the accounts to 'make things easier'. Easier?  Hardly.  This is why.  We now need proof of payoff.  Cancelled check, statement showing no balance, etc.  It make a lot more work for the client and the originator, and if this loan is a purchase loan over 100% LTV, t...
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