HOT MARKET

The weather this week has been unusually hot. But not as hot as the current CNN MONEY that proclaims Wenatchee as the second hottest real estate market in the country! The good news is that the projected growth rate is 16.7% which is a far cry from other areas that were 20-30% or more last year and are now at 5-9% now that is out of control. We don't need that.

In fact, based upon my day-to-day on the ground experience, I am seeing some cracks that will cool things slightly over the next year. MLS properties are seeing an increase in repricing at a lower level. There appears to be an increased number of sales falling through and average time on the market is growing slightly. Remembering the dot-com crash in the stock market, I view these trends as welcome as they will prevent a collapse. So I am optimistic but not overly so. Give me a solid 5% and we can plan for that.

As to number 2 ranking? I guess I feel like the guy, when after being tared and feathered and run out of town on a rail, that commented "If it wasn't for the honor of the thing I would just of soon walked".