27.20% : Latest Appreciation Forecast
Appreciation rates for Wenatchee real estate continues. Although our strong and diverse economy surely indicates demand and values will continue, I was surprised to see the 2007 forecast for appreciation to be coming in at a whopping 27.20%. This comes in at #2 in the entire nation (behind Gulfport-Biloxi, MS). Do you remember in 2006 we were #2 behind Panama City, Florida?
What does this mean?
* If you're thinking about selling your home and trading up to a larger, more expensive, home... do it now before prices go up more!
* If you're thinking about selling a home and trading down, you might want to wait and build some more equity before buying a smaller, less expensive, home.
27% of $300,000 is $71,000
27% of $200,000 is $54,000
27% of $150,000 is $40,000
For investors: Buy as much as you can, even if it means negative cash flow on your rentals. You can cover a $100 (or more) negative cash flow ($1200 per year) if you are going to enjoy an appreciated value in the tens of thousands for the same time period.
For a free customized consultation, contact Carol today:
Carol@TopPropertiesWenatchee.com
To search for home and or land in the Wenatchee MLS, click here.
You can also get customized print-outs from my two assistants:
TopTeamShelley@gmail.com
TopTeamPerci@gmail.com
Carol Williams
in Wenatchee Washington Real Estate, Wenatchee WA Real Estate Trends, Miscellaneous news, info, ramblings, Wenatchee WA News, General Area News & Info, Buyer Needs
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Reader Comments (2)
I was pondering the effects of 27%+ appreciation and the practical aspects surrounding it.
With the last 3 years appreciation rates in Wenatchee upwards of 15%-20%, what is a good real estate percentage fee for selling a home these days?
I thought you might write something about the dynamics of a fast appreciating market and fees that are tied to the percentage of the sale price.
I would really appreciate your evaluation and insight into this.
Thanks
You bring up an interesting topic. I will give this some thought and write something more for you as I get a chance.
In the meantime, let me say that (as you know) agent related selling fees are always negotiable... unlike excise tax and some other closing fees based on a percentage of selling price.
There are, as you know, "typical" fees that are charged by many of the agencies. Although fees are truly flexible, if you call 10 agents you will most likely get quoted a very similar fee structure.
In my opinion, instead of worry about what the fee is... you should be sure you hire the person worth the fee being quoted. That is another topic of discussion.
I know your question related specifically to thoughts about the appreciation factor and I will give that some thought and write more about it later.
Thanks for checking in.
Carol