I would like to try to make some sense of the insanity that is settling into the local real estate market right now, but I'm not sure it's possible. 

As I was driving around Wenatchee, East Wenatchee and Malaga today, looking at new listings, I came across several random lots with For Sale signs.  I called each of the listing agents to get some details and each one told me they have offers pending on them as of the last few days.  These are lots that have been sitting for quite a while, and not in prime locations.  

Although there is plenty of new development going on, it appears these scattered lots are being scooped up... probably by independent builders desperate for a spot to build.   The small independent home builders are having a difficult time finding building lots.  Development of a large parcel is so expensive (and time consuming) that it's prohibitive for the smaller builder.   The larger parcels that are being developed are being controlled by the developers, leaving the "little guy" scrambling. 

Carol@TopPropertiesWenatchee.com
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