Wenatchee Real Estate

Wenatchee Market

2007-10-15T06:34:00.000-07:00

Ok, six months is long enough. I need to take a break from Active rain and the Seattle PI's Seattle Real Estate professionals blogs and get back to basics. For me getting back to basics is in part doing the little things well... and this is one of those things I need to keep up on.

So, in spite of repeated articles saying what a hot market Wenatchee is (was) I have continued to down play the numbers (although qualifying with still some pretty good numbers). The national numbers are generated by using lake Chelan to Leavenworth with all places in between. So reality is we have been seeing increases more in line of 10-15%. not 20-25%. Then August and September came along and we kind of fell flat. Sales down, prices flat to perhaps a slight decline and inventory way up. We are back in a market more like 2004 (which was good). I think that Aug and Sep had some issues that caused the slow down (mortgage scare, continued bubble talk, and even weather). Plus along the line we went from zero inventory of build able lots to around 100. This too has had an effect... namely lots have dropped from 100K to about 90K which will be good for future prices.

So all that said so far October has started to reheat a little. We are seeing buyers emerge again (after looking at 30+ houses), sellers getting more realistic and financing levelling off. I am looking for the rest of the Fall to be good and winter above average. next Spring (say Feb on) will be good. Not great or perhaps even fast paced but good! After all selling a house is not a race.

UP DATE

2007-06-14T06:42:00.000-07:00

It has been awhile.... been blogging over on Activerain and have sort of dropped the ball.

Recently Wenatchee appeared as the leading location for growth in Real estate throughout the nation. Take everything with a grain of salt. The numbers, while accurate, do not reflect Wenatchee. rather Wenatchee, Leavenworth, Chelan and points in between. Since Chelan (and to a lesser extent Leavenworth/Lake Wenatchee) is a very, very hot resort community the numbers are tilted. If we could adjust the number for Wenatchee it would come in around 16%...still great but not as great!

Active Market

2007-03-05T07:22:00.000-08:00

It's March and the market has started to take off. For those of you interested in Market data I have been frequently blogging on our local market strong and weal points (mostly very strong) over on Active Rain. Historically March is a good month in River City. Old inventory is passe, new inventory is coming out daily and activity picks up as the market seeks it's level for the year.

A good year is ahead (though not up to last year) and with interest rates bumping the high 5's, lots tight we are set to record strong sales. There is a top and we have probably seen it but still good.

Lately Wenatchee has been mentioned twice in publications. One for one of the top markets nationally in 2006 (and the #2 market in 3rd quarter 2006) and another as one of the top five locations (#2 in cities) for business/economic health. I am a bit of a contrarian so I take this all with a grain and am seeking to consolidate customers and risks toward the end of the year but still it looks ok.

Agency

2007-02-03T06:26:00.000-08:00

In Washington Real Estate it is permitted for an agent to be a dual agent (represent both the buyer and seller on a transaction). Naturally, it has to be disclosed and both the buyer and seller need to agree to it .

Many if not most agents will act as a dual agent. However, I don't like it and usually won't. I think the potential for liability is too high and certainly the appearance of conflict or actual conflict of interest makes me uncomfortable!

Honestly, how can you negotiate for one party when you know what the other party will do? How can you advise one party fairly if you know the warts on the other side...no, not just warts but concerns and perhaps weakness. Finally, there is the financial end of things too. Assume a $300K transaction and a 6% commission. If I represent one party the commission on the table is 3% or $9,000 ( later to be split with broker). But, if I "represent" both parties the amount is $18,000. In all honesty, how do you keep the tail from wagging the dog? You cannot convince me that if an agent represents both sides the amount on the table does not creep in, at least briefly...

Lets put it another way. Assume your agent confronts you with representing both sides. Ask your self does he/she have my interest at heart? Or evaluate it this way. Assume you are getting a divorce... do you want the same attorney representing both parties? There MAY be circumstances where it might be ok. But as a general rule I think not.

So, my advice is do not accept a dual agency in a real estate purchase or a real estate sale. For people buying homes in Wenatchee, and if they are my clients, I plan on being sure there is fair representation!

OUT WITH THE OLD IN WITH THE NEW

2007-01-06T08:16:00.000-08:00

Thinking of listing?

January and February are good times to list (at least in our area). Going back to November; Thanksgiving and Christmas and New Years all take a bite out of the active market. So there is a lot of product that has been on the market for quite awhile. It is shop worn and over exposed. New product coming on now gets more interest and activity just because it is new. Buyers may jump at it just because it is different and a fresh face.

Plus as listings start to increase sellers will find themselves with new invnetory to look at too. A win-win!

Year End

2006-12-21T06:37:00.000-08:00

The year is almost history. Residential sales and Residential listings were strong. For this agent Commercial listinigs and Commercial sales were also good. In all a banner year with good prospects for next year too! The Wenatchee real estate Market will remain strong... perhaps not hot, just strong. This next year will find a bigger emphasis on new construction. But all that lies ahead.

For now, thanks for the year and have a Merry Christmas and Happy New Year!

Real Estate information

2006-12-06T06:13:00.000-08:00

Just came across (new for me) a very good site that lists the top 25 or so real estate blog comments. Great resource...
www.carnivalofrealestate.com
Try it...

Wenatchee Real Estate Market

2006-12-05T07:07:00.000-08:00

Unbelievable... According to a recent article in the Wenatchee World we have one of the top five real estate markets in the country (through September).

Our housing market has been very good. Houses selling within a few days of listing and many selling with multiple offers. But overheated? I don't think so. Though a pause to catch our breath might be nice and that is what the fourth quarter is looking like. Inventories are still low and time on market only increasing a week or two at most. Perhaps the biggest soft spot in our market are homes priced over $350,000. Which, if you think about it, in a primarily agricultural community, is pretty normal too.

Next year? Should be pretty decent. My guess is in the 8-12% increase range. Which is terrific for a community that has historically averaged 3-5%.

There are about 420 REALTORS in our organization. In Spring of 2004 the number was about 270. So the slowing may cause a slight shrinking of REALTORS in all probability. But in all houses in Wenatchee and real estate throughout Chelan and Douglas Counties should chalk up another very good year!

Another source for Information

2006-11-21T06:23:00.000-08:00

Here is another source for Real Estate Information. It contains blogs from all over the country.
Industry Blogs

OPEN HOUSE

2006-11-12T09:29:00.000-08:00

Yep got one today ... there goes my afternoon...lol

People ask about Open Houses all the time. Do they work? Why haven't you done mine recently? How did the Open go...did you get an offer?

Open houses have long been a staple in the REALTOR bag of tricks. Do they sell homes? Do Home buyers really come out? Of course and yes certainly.

But the truth is somewhere between the extremes. Most Opens do not result is a Sold Home directly. Most Home Buyers do not buy the Home they see in the open. But some do. Those that don't may become a client that buys another home. Many lookers are trying to get a feel for the market. Many are just nosy. Frankly I have yet to hold an Open that I did not get one Home Buyer from. But, alas, usually not for the home that was on Open House.

Basically selling real setate is a numbers game. Lots of exposure and more people through a house and eventually, all things being equal, an offer to purchase will be forth coming. Open houses are one way to get the exposure. Potential buyers are out and looking, getting ideas, learning about price and the market and interviewing (yes interviewing) a prospective agent. So in say 15% of the cases a person may write an offer on your home as a result of the Open. But in the other 85 they may write another offer on someone else. So if your Open House doesn't generate the lead... Relax the guy a block away at another Open is also looking and interviewing and that agent may just know the right property about a block away up the street.

Rain and Your House

2006-11-07T13:43:00.000-08:00

Have a new home? Just selling your old home and buying a a new home? Well if you are watch out for rain!

Here in Wenatchee most Wenatchee homes and homeowners have little experience with rain. Then when we have a few days of rain like this week we can have unanticipated problems that may effect selling our homes.

Here are a few tips to selling your home that fall under the maintenance of existing homes.

Around the footings of your house it is a good idea to use gravel or river rock. This causes the water to take different paths to the ground and foundation helping keep things dry inside and looking nice out.

Homes in North Central Washington often experience snow and occasional rain. Gutters and down spouts help channel the water away from foundations. So be sure they lead away from the foundation and don't just dump all runoff onto a corner of your home.

Roofs... How old is it? We have lots of older shake roofs in the area. These can be problems if not properly maintained and if the are skip sheeted they can be quite expensive to replace... Especially if not maintained.

Real Estate info

2006-11-05T08:44:00.000-08:00

Need more information on homes? How about buying or selling your home? Try this link and blog:
Real Estate Blogs Directory
- Directory of real estate blogs and blogs of industries affiliated with and
serving the real estate industry.

Manufactured homes

2006-10-29T10:13:00.000-08:00

I have been working on a sale of a manufactured home that is about to go down in flames. The problems are all related to earlier owners that did not follow the rules in the state of Washington. Regardless of County or City building requirements, any manufactured home that is being set up or modified requires the Washington State Department of Labor and Industry to inspect the work! This includes, changing a hot water tank, adding or changing the air conditioner, changing an electrical connection, adding a new roof, adding a garage/carport and connecting it to the house. The list goes on and on. So when you are ready to make an alteration take a minute and visit the local L&I office. If an inspection is needed the cost is pretty nominal. But a lot better at the time you are doing the project then to find out later you cannot sell the home.

Google real Estate

2006-10-20T06:40:00.000-07:00

Windermere has just combined their site with Google to give great search potential for houses and other realestate in Washington and throughout the Windermere network.

Putting more information in buyers hands can only help real estate. Bringing it down to the individual community level will not only sell houses but drive real estate clients to better and more powerful web sites.

Check out the new tool today and if you have the chance drop by my web site at
www.perrincornell.mywindermere.com

Yahoo Real Estate

2006-09-26T06:27:00.000-07:00

I dropped in on Yahoo Real Estate and looked for Wenatchee Homes. I also searched for Houses For Sale in Wenatchee and zip 98801.
But what I got was confusing. Besides many listings (but no way all of the listings in the NCW MLS)there was a high percentage of Wenatchee Homes Sold in the last three years. These homes were shown as currently on the market, they had recent listing dates and prices from several years ago.
I think making information available to prospective buyers and sellers is a good thing and encourage it. But looks like Yahoo (at least in this instance) like ZILLOW and RedFin still have a lot of work to do.

Wenatchee Real Estate

2006-09-24T15:31:00.000-07:00

The Chelan County Real Estate Market and the Douglas County Real Estate Market are still active and strong.

Factors keeping the sale of Wenatchee Homes at high levels are construction activity in the area, the in-migration of high tech jobs and overflow of Real Estate sales in near by communities.

Wenatchee and East Wenatchee residential lots are also hot due to a shortage of supply. This factor alone has contributed sharply to the local increase in sales prices.

The housing inventory in the local area, depending upon price, is between 15 and forty days on average. Wenatchee homes priced under $350,000 are inventoried around 30 days. The median home in Wenatchee and East Wenatchee is priced at about $210,000.

For more information on the Wenatchee and east Wenatchee Real Estate market visit my web site at www.perrincornell.mywindermere.com

Do You Need an Agent?

2006-07-17T06:22:00.000-07:00

Simple answer... no. You don't "need" an agent to complete a Real Estate Transaction. However, an agent (or at the very least a Real Estate Attorney) can not only make the experience smoother but also bettter. Consider the following;
1. Recent NAR statistics suggest that sellers average a 16% higher selling price when using a full service agent. So, after the comission that still leaves you way ahead.
2. The same stats show that using a full service agent a seller will average a 9% higher return than with a discounted agent.
3. In a PI blog a Seattle Real Estate Attorney recently quoted a statistic that should be very troubling to those representing themselves. According to that writer 85% of all Real Estate litigation is from transactions where at least one of the parties was unrepresented. Even if that number is inflated what is really scary is it is a very high percentage. Of the portion that represents Agents involved in litigation it is better than an even bet most of that litigation would also have occurred if there had been no agent. In short the legal odds are stacked against you if you are unrepresented.

So, if you want to get a better return, navigate the legal hassels and potential buyer/seller land mines... get an afgent. You will sleep better too .

A Good Agent

2006-05-28T09:31:00.000-07:00

What makes for a good Real Estate Agent?

You have done some research, have good ideas of the kind of house you want to buy and have a Pre-Approval Letter. Now you are ready to get an agent and find "that" house.

There are a lot of agents out there. In our area about 345 or so. How do you pick the one that is right for you. Recommendations from friends might be one source. Checking out a prospects web site might also help. Who has the most signs? All of these may be starting points. But picking an agent is not like finding a salesperson to sell you a car. This is a major investment. If you are like most people, probably the biggest one of your life. Simply calling an office and talking to the first available agent (on floor duty that day) might not work for you. Here are some ideas you might want to consider:

A. Look at the franchise offices. Franchise offices often have strong training programs (I work at a Windermere office and training, plus resources, is a real plus) and lots of support programs for their agents and clients. Small offices may be good too but a franchise just offers more tools.

B. Go on line to the State Department of Licensing web site. Look up the Agent you are interested in. Does it show any adverse information? How long has he/she had a license?

C. Google the agent's name. Does it show up anywhere else. Perhaps articles written, involvement in community activities, etc.

D. Interview the agent. Ask some hard questions, are your ideas, methods and background compatible? Is your agent merely an order taker or will your agent really work for you?

E Does your Agent want a written Buyers Agency Agreement? I happen to think this is a GOOD indication. Your Agent is willing to put in writing what they will do for you. They are willing to concentrate on you and not hundreds of others (ok perhaps not hundreds). In turn, they are asking for loyalty from you. But for a fairly nominal commitment from you your Agent is willing to go an extra two miles.

All of the above or non of the above may be your style. But it is a sure thing that the house you buy and the transaction will go better if you take time to pick the right Agent. You will sleep better knowing you have an Agent working for you!

HOT MARKET

2006-05-19T06:45:00.000-07:00

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".

OFFERS

2006-04-30T06:32:00.000-07:00

Writing an offer is not just a simple exercise. At least writing a successful offer isn't.

It helps to take a few minutes to assess the goals of both the buyer and seller and conform the offer to them. This is especially true if there are multiple offers.

There are order takers in this industry and there are also good agents. The order taker does just that, takes (writes) the order and faxes it off to never-never land. A good agent goes a lot further (with a lot more success).

Lets assume an asking price of 150,000 and multiple offers (in our area there are homes readily available at this price and they get a lot of interest). You can just write it up and fax over or really work the transaction. First a call to the listing agent. What can/will they tell you about the seller and also about the competing offer (many agents will tell you about the competing offer, if their client ok's it). Now sit down and design a plan, with your client, on what makes a strong offer and what is the best way to get your offer on the table. Here are some ways to shape your offer or questions to consider:
PRICE: With multiple offers price may not be the only factor. But, just in case, does it make sense to lowball with another offer on the table? Should you go over the asking price (is the house worth it)?
EXPENSES: Do you ask for closing costs? Or if you do how do you weave that into the price equation? On lower priced properties it is not uncommon to see the seller asked to pay closing costs. So if you have a strong buyer can you use that to advantage? If you need costs paid what can you do to make your offer stronger?
EARNEST MONEY: The reality is that there are enough loopholes in a standard agreement that the buyer can get out without loosing their earnest money (especially if the agent writes a good agreement). However, sellers view an earnest money as a way to gauge how strong an agreement is. So put as much money down as the buyer can afford. Just because $1,000 may get by and is often used, you may find that $5,000 attracts attention.
CLOSING DATE: Depending on financing here is where you can give the seller something that won't hurt the buyer either. In your conversation with the other agent you learned about competing offers and also that the seller needs to move (for example). Tailor your closing dates to accommodate the seller. This will make it easier for the seller to accept your offer over a plain 30 day close (yes, it needs to work for your client but this is an easy give up).
FINANCING: As strong as possible. Here you work both sides of the aisle. If your buyer can afford a down payment (and in the 150K price about 50% can't) include it in the offer. Your client may always accept lesser terms (and get that 100% financing) but with a down payment the offer may appear stronger than an offer without one. Limit the amount of money the seller is expected to pay for required inspections and repairs (if it is exceeded it becomes negotiable.. 20 days into a sale with closing 10 days away will a seller refuse to accept an additional 250 in cost or kill the deal? You might get the concession but at the time of the original offer you might kill the offer over the 250).

These are a few brief ideas. There are many, many more! These steps coupled with presenting the offer in person where you can sell the strong points, make your buyer appear real and assess the seller will all work to your favor!

Home Inspection

2006-04-16T15:06:00.000-07:00

So, you are buying a home and think you don't need an inspection? Don't want to pay for one? Well lets see... in our area the median home is about $215,000. A home inspection is about $350.00. Based upon what you are willing to pay for a home an inspection on a purely financial basis isn't much.

How much do you really look at a home before you buy? Did you turn the stove on? Try the dishwasher? Or did you check the electric panel to see if all connections are done, aluminum wires are pigtailed and no doubles? No? Well an inspector will. All this and much, much more!

I can't encourage a buyer enough to make this added expenditure. Most inspections go quite well. Almost everyone uncovers some detail that needs attention. Occasionally they save the purchaser literally thousands. So when your agent asks about an inspection. Say YES!

For Sale By Owner

2006-02-12T07:20:00.000-08:00

We have all run into this type of property. The owner is trying to sell his house by himself because he may be able to "save" money. Believe me I understand money as well as the next person. But lets evaluate this position and some myth around what you save:
1. If the seller is saving a commission and putting money in his/her pocket don't you think the buyer might be aware of that and try and make their offer reflect that the seller now has room to negotiate?
2. Commissions are negotiable... they are anything but fixed. Therefore, they may not cost what you think.
3. A seller that is doing his own sales promotion, showings, etc is limtited to their own availability to meet with and work with a prospective buyer. But Real Estate buyers are looking, usually, when it is a good time for them, not when it is a good time for the seller. So if you are only showing in the evening or on weekends or if you only get phone calls at home and you work a normal shift how many buyers did you miss. Or to look at it another way... On a house with a $200,000 mortgage, if missing only one call delays selling one month you just lost $1,000 in additional interest expense. Add that to the costs of advertising, keeping the house 'showable", delay in finding your house to move into etc., etc., and pretty soon we are talking real money and inconvenience.
4. In our community there are approximately 350 real Estate Agents. That means that you have 350 employees working for you and trying to sell your home whether or not you are available. Good agents will work to find qualified buyers, will present valid offers and will work very hard to be sure a property sells and closes. At 1:30 PM, on a Friday, when you are at work, your agent is talking with the title company or bank ironing out wrinkles that may have come up effecting closing. Often times about details you may never even know about but are deal breakers anyway.

Finally, selling on your own really means you are unrepresented. If the buyer is represented you may find yourself at a disadvantage. But even if they are not, as an unrepresented seller are you knowledgeable about lead paint issues? Did you know that you are subject to large fines for not properly warning a prospective buyer? Did you know that by failing to give your buyer a properly filled out and executed Sellers Disclosure you may have the buyer walk or rescind the transaction leaving you with nothing but putting the house back on the market?

There are lots of other reasons to be represented and to use a REALTOR to sell your property. Even though the enticements of more money in the sellers pocket is great, in the final analysis it usually is not as great as anticipated and usually be way less. It (selling unrepresented) is an option that may work for some but consider it carefully!

Groundhog Day

2006-02-02T20:26:00.000-08:00

For real...not Bill Murray's.

So the critter saw his shadow and now we hae more winter.

One way to avoid the winter blahs is to get a new home or investment Real Estate. We have everything from excellent river front property priced in the low $400K to cabins, condos, duplex/fourplex and of course single family.

Properties priced at or below $100K are getting hard to find but they exist. On other prices, the inventory is starting to grow as more and more buyers and sellers enter the market. Give me (or any of our agents) a call today 509-669-0354 to see what is available and for help in finding the property that is just right for you.

By the way for those trying to buy or sell on your own... be sure, if the property was built before 1978, that the sellers give the buyers the HUD Phamplet on lead based paint. To fail to do so is a big no-no punishable with literally huge monetary fines... and in this case ignorance is not an excuse.

January 06

2006-01-13T14:57:00.000-08:00

Happy New Year everyone!

Looks like rates will continue hot and the market too. Not speculative hot but good!

I have a great retreat near lake Wenatchee that could be a year around hoe, vacation property, rental or?? Priced at $235,000 in an area commanding higher prices it is a property not to be missed.

If your interested in this property drop me a note and lets discuss it. Also if you need to finance it Shawn Rush at Home 123 has a great program. Contact Shawn at shawn.rush@home123.com

Year End / New year

2005-12-09T14:11:00.000-08:00

Ok, so its been a couple months. Things have been busy...ya know??

Reading the other day that the MBA is predicting rates for 2006 to average around 6.75. That is still very good and will work for most people. If you are looking for rates and fees you might try Joni Eller of Discover Mortgage here in Wenatchee or Daryl Ansley at Peoples bank also in Wenatchee. Joni's email is joni@discoverncw.com and Darel's is darel.ansley@peoples-bank.com. Both good people!

Just listed a 1550 sq ft house with 3Brms and 1/75 baths at $135,500. Check it out on my website www.perrincornell.mywindermere.com

See you next year!

Fall and Real Estate

2005-09-10T14:09:00.000-07:00

Hard to believe it is September already. But temperatures have dropped and there is a smell of fall in the air.

Fall is a great time to buy and sell property. The peopel that needed to move prior to school have done so leaving the market open for new buyers. Rates continue low and with the problems down in LA will probably remain so for awhile. The rapid escalation of prices has stalled, but only a bit. So with 406 properties listed in the MLS here there is inventory and excellent choices (though ramblers continue in tight supply).

So call or email today and lest set eomething up!

perrin@windermere.com
509-669-0354

Opportunities Abound

2005-07-12T15:41:00.000-07:00

Lots of opportunities are available in Real Estate. Don't let all the hype about price fool you or turn you off. Remember last years prices were high but not this year!

Importnat thought: you don't live in an investment!

So property may still be purchased at prices that in the future will seem very modest. Call your realtor today and get the ball rolling!

Rates lower than last year!

2005-05-16T10:03:00.000-07:00

Here is a recent FHLMC press release on interest rates. Those of you considering a move may find this of interest:

MORTGAGE RATES STAY BELOW SIX PERCENT FOR SIXTH CONSECUTIVE WEEK McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market SurveySM (PMMSSM) in which the 30-year fixed-rate mortgage (FRM) averaged 5.77 percent, with an average 0.5 point, for the week ending May 12, 2005, up slightly from last week when it averaged 5.75 percent. Last year at this time, the 30-year FRM averaged 6.34 percent. The average for the 15-year FRM this week is 5.33 percent, with an average 0.6 point, also up slightly from last week when it averaged 5.31 percent. A year ago, the 15-year FRM averaged 5.72 percent. Five-Year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.21 percent this week, with an average 0.6 point, rising from 5.16 percent last week. There is no annual historical information for last year since Freddie Mac only began tracking this mortgage rate at the start of this year. One-year Treasury-indexed adjustable-rate mortgages (ARMs) averaged 4.23 percent this week, with an average 0.6 point, up very slightly from last week when it averaged 4.22 percent. At this time last year, the one-year ARM averaged 3.90 percent.

Market Update

2005-02-25T09:18:00.000-08:00

With Feb '05 almost history a look back shows we have sold 136 properties since the first of the year... and there are still a couple days to go. Last year Jan and Feb totaled 132 sales so the market is off to a strong start. However, there are still more buyers than sellers. As a result, well priced properties are in demand and virtually jumping out of inventory.

It is a great time to be listing! So call your favorite Realtor today and get a price analysis. Then list and start planning to realize your next "dream" property.

Groundhog day!

2005-02-02T10:58:00.000-08:00

Today is Groundhog day and we will learn if the winter blahs will continue or go the way of the dodo.

February is also the month when Real Estate in our area starts to kick into high gear. New listings have increased from just one or two a day to ten or more. The overall market is still short of inventory and homes that are listed and well priced are selling! Today I presented an offer on a property for one of my clients and there were a total of five offers being presented on the same property.

February is also a good time to be thinking of building. There is a good supply of building lots on the market priced from $32,000 to well over $150,000. Sized all the way to several acres many with excellent views. Of special note is a subdivision of 20 acre parcels with utilities at the road. Prices are generally from the $60,000's to about $100,000.

Short Market Supply

2005-01-17T14:07:00.000-08:00

The short supply (about 50-70% of normal) makes this an excellent time to list your home for maximum return. Interest rates are still low, buyers want to move by Spring and the existing inventory is small all add up to a great time to list and sell.

If you are interested in selling, I recommend you start the process with a no obligation Market Analysis to help set your price. Keep in mind that even with a hot market, a home needs to be priced properly. In fact I would even recommed more than one analysis. A realtor can help you with this process. No need for an appraisal at this point.

Did you know that statistics show that 80% of all properties sold are sold through a Realtor. Further, properties sold using a Realtor usually sell for more money. Both important facts to keep in mind. One other fact. Windermere real estate, in Wenatchee, has the shortest marketing time of any of the major Wenatchee Realtors. The average for our MLS was about 105 days for 2004. Windermere's average was 87 days. The other majors run from a high of 138 days to a low of 100. These numbers are based upon 2004 sales of listings reported by the local MLS. So if you want fast fesults it pays to talk to a Windermere agent!

WOW...Just Listed

2005-01-14T16:41:00.001-08:00

Executive home with over 3,000 sq ft of space in a premier neighborhood. Four bedrooms, 3+ baths, loft, wet bar, formal dining plus lots more. Add in new paint throughout and you have a bargain at $259,900.
For more information give me a call today 509-669-0354

interest rates

2005-01-14T16:35:00.000-08:00

30yr, fixed rates as published dropped today. Rates are under 6% and will likely remain in about a 1/2 % range over the next month or two. APR are higher and will depend on many factors. We have several good, reliable funding sources. It pays to shop around a little.

Market Activity

2005-01-14T14:46:00.000-08:00

The current market is very active. Especially in the $100,000 to $175,000 range. Homes selling in rapid succession. Often with more than one offer. Of course price has to be competitive and not pie in the sky.