Cascade Mountains at Wenatchee Washington
Click image to enlargeNot sure how I missed it, but last night I discovered the March 12, 2008 edition of the NuWire Investor publication named Wenatchee in the "Top 10 Places To Buy Vacation Rental Homes in the U.S".  


Wenatchee came in number three, but looking at the criteria for which they were chosen, it appears Wenatchee could have very easily topped the list.   Factors taken into consideration were home prices and appreciation rates but, I think, more importantly (for a vacation home or vacation rental home) such things as weather and the availability of activities and attractions are critical. 



In the weather category, it was interesting to note they used an "average number of rainy days" factor (not a number of sunny days factor).  Either way, Wenatchee would have won hands down over all the markets listed.   Wenatchee was noted as having an average of 26 rainy days per year and the nearest competitor was the Virgin Islands at 73 rainy days!   


In the median home price category, I found the NuWire information inaccurate.  Wenatchee's median home price was listed at $319,900 but it is actually $248,500 according to the March 2008 Pacific Appraisal SNAPSHOT statistical market summary.  NuWire lists their source as Zillow which is basically a computerized statistical analysis and not based soley on actual sales records.  This is a significant discrepancy. 



Here are the top ten markets for buying a vacation rental, according to NuWire Investor:

1) Ashland, Oregon

2) Grand Junction, Colorado

3) Wenatchee, Washington

4) Guam (U.S. Territory)

5) Asheville, North Carolina

6) Miami, Florida

7) U.S. Virgin Islands (U.S. Territory)

8) Salem, Oregon

9) Salt Lake City, Utah

10) Coeur d'Alene, Idaho



If you get a minute, you can read the entire NuWire article.  Interesting to note that 4 of the top 10 are in the Northwest region of the United States.



All things considered, I anticipate Wenatchee WILL be a hot spot for future vacation rentals as a wonderful alternative to the typical motel room.  I've been touting this option on my Wenatchee Condo blog for quite a while now.


Because of our great weather (and central location in the state) there is almost always some convention or combination of meetings going on in Wenatchee.   With all the demand for motel/hotel rooms due to these meetings (and the plethora of recreational activities in the area), I see a huge demand for vacation rentals in the Wenatchee real estate market. 


At this time, there are many vacation rentals in the outlying areas like Leavenworth, Lake Chelan and Crescent Bar, but almost NONE in Wenatchee.   I do represent the one project in Wenatchee currently being promoted for that purpose.  So, if you want to get in early, now may be the time.  


We often get inquiries from potential renters looking for a more versatile option to the typical motel accommodations.  These tenants are looking for accommodations from a few nights to several weeks at a time.  And, they are willing to pay significantly more than a standard monthly rental apartment because short term rentals (less than 6 months) are extremely hard to find.



If you missed the last big increase in home values, vacation rentals may be the next niche to consider.



Have a great week-end!













Remember:

Information is FREE.  Knowledge, Experience & Integrity Are Priceless



Contact the Top Team Today:

Carol Williams,  TopTeamCarol@gmail.com

Shelley Granger,  TopTeamShelley@gmail.com



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Last week-end some local residents experienced a BIG scare when a bad wildfire broke out northwest of town as a result of some men playing with fireworks.   The fire started on Easy Street and quickly spread toward the Eagle Rock subdivision, threatening many homes.  There were approximately 250 homes evacuated.   


Thanks to the fabulous firefighters, no homes were lost and everyone is back sleeping safely in their own beds again.  This was a good wake-up call, though, for the importance of a generous green belt between your home and undeveloped scrub land. 


Here is a link to a fire photo gallery from the Wenatchee World newspaper website.  These photos were submitted by local residents, photographing the event.   


To read all the articles covering the fire, visit the Wenatchee World website and search "Easy Street Fire". 


* * * * *


For current Wenatchee real estate information contact the TOP Team:

Carol Williams  TopTeamCarol@gmail.com

Shelley Granger  TopTeamShelley@gmail.com



Have a great week-end!

The biggest event of the year in Wenatchee is the 11-day Washington State Apple Blossom Festival, unofficially wrapping up with the Grand Parade on the first Saturday in May.  This years festival is slated to get under way next Thursday, April 26th.  Technically, there are a few events slated for Sunday, May 6th but the Grand Parade is really the grand finale event.  The youth parade is held the first Saturday of the festival (April 28th this year).


For a complete list of events, click here then click on "Festival Events".  Along with all the other events going on, there is on-going live entertainment at Memorial Park, on the lawn below the Chelan County courthouse. 


If you've never been to the Washington State Apple Blossom Fesitival, I highly recommend it.  It's a bit crazy in town because of the mass crowds (especially on the second week-end), but it's a well run flurry of activity for a week and a half every Spring, celebrating the blooming of a new crop of apples.  Apples, afterall, are our original claim to fame in the Wenatchee Valley.   If you're going to need a place to stay, you need to know someone who lives here... or make room reservations a long ime in advance.   It's an event you need to plan ahead for, but well worth the effort.


For information on Wenatchee real estate or Wenatchee condos for sale, contact the TOP Team:
Carol Williams, Realtor / Team Leader  TopTeamCarol@gmail.com
Shelley Granger, Realtor / Assistant  TopTeamShelley@gmail.com


Remember:
Information is FREE.  Knowledge, Experience & Integrity Are Priceless

The first of the, much anticipated, Wenatchee riverfront condos came on the market yesterday as pre-sale listings.   This is just the beginning of much more development coming along the waterfront. 


1700 square feet units are starting at $435,000
2100 square feet units are starting at $510,000


For more information contact:
Carol Williams  TopTeamCarol@gmail.com 


Information is FREE.  Knowledge, Experience & Integrity Are Priceless

Information Is Free. Knowledge & Experience Are PricelessAccording to an interesting article in tonight's Wenatchee World, the Sunnyslope area at the north end of Wenatchee is targeted to absorb much of our forecast growth over the next 20 years.  Click here to read the entire article.


For customized service contact Carol or one of her assistants today:

   TopTeamCarol@gmail.com
   TopTeamShelley@gmail.com 

   TopTeamPerci@gmail.com 


To search all listed land and homes for sale visit:
   www.TopPropertiesWenatchee.com  

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

For pictures and commentary on why

I believe Wenatchee will continue to be

a good market to invest in real estate...

follow this link.

Carol Williams,
Real Estate Agent

Mission Ridge, our local ski area, is 40 years old this year.  There was a very interesting and substantial article about the history of Mission Ridge in the Wenatchee World newspaper over the week-end. 



To search homes and land for sale in North Central Washington, click here.


Information is FREE Knowledge & Experience Are Priceless


Contact Carol Today: 
Carol@TopPropertiesWenatchee.com

 

 

 

 

 

 

 

 

 

Flying into Wenatchee, or planning a flight out, during the winter months can  be inconvenient because of frequently cancelled flights. 


During days that look like the picture to the left, it's nearly impossible to land at the local Pangborn Airport, located at the far end of Grant Road in East Wenatchee.

But, there is good news for future passengers. Horizon Air has received FAA approval to begin using the instrument landing system.  This has been a long sought after addition to service into Pangborn Airport and, according to an article in tonight's Wenatchee World newspaper, will reduce flight cancellations during the winter months by up to 80% or approximately 50 flights.


The only other commercial flight service into Wenatchee, Executive Flight, is a charter service and expects to receive FAA approval by December 1st. 


Under the old visual landing approach, flights were only allowed to land if there was 4 miles of front visibility and a cloud ceiling at, or above, 1300 feet.  The new instrument landing system will allow pilots to land with only 1 mile of front visibility and the cloud ceiling can be as low as 300 feet above the ground. 


This will certainly be a vast improvement in service in and out of the airport during the winter.   

To keep current with ongoing local news and real estate information contact:
Carol@TopPropertiesWenatchee.com

Information is FREE.  Knowledge & Experience are priceless.

As the 2006 Tour of Homes gets underway, and the builders flaunt their showcase homes, I got to wondering what the total current inventory of "affordable" homes looks like.   Affordable is an arbitrary term, of course,  but I searched for homes under $100,000 and found only 6 total.  These are single family residences, excluding mobile homes on leased land.  Adding those (mobiles) to the mix the total went up to 20.   Because there were so few in the under 100,000 price range, I searched homes in the $100,000 - $125,000 price range and there were 12.  All searches were done for the Wenatchee, and East Wenatchee areas and did not include homes for sale in Cashmere, Leavenworth, Chelan or other outlying areas.



With home sales in the Wenatchee area remaining brisk, it is becoming more and more difficult to find affordable homes to buy.  To add to the frustration for those on a limited budget, our anticipated appreciation of 16% for the next 12 months will make buying a home even more difficult as time goes by.  So, if you're thinking about buying a home... sooner is better than later!


If you'd like a free consultation or customized search in a specific location and price range, please contact:

Carol@TopPropertiesWenatchee.com



Stay Current with homes for sale in the Wenatchee area

Current Wenatchee area pictures, news, info and trends

Here's the Monday evening sky outside of my home just before a huge rainstorm dumped buckets of rain.  Within minutes of taking this picture, we experienced a rainstorm like I haven't seen here in many  years.  There was serious lightning, thunder and rain for about 20 minutes, leaving raging rivers, mudslides up the Entiat, and the nuisance of some plugged storm drains around the valley.   

After a good gully-washer like that is a good time to check property (for leaks, unstable soil, etc).  It rained so hard, I got to wondering if the building lot some clients are interested in had any serious erosion.   I drove to the Peach Haven II subdivision in East Wenatchee and was pleasantly surprised that everything was still intact.  The road wasn't even muddy, which gives me confidence that the lots are very stable. 

After a rainstorm is a good time to shop for a home or land.  It's pretty hard to hide potential issues associated with unusual amounts of rainfall.

Carol@TopPropertiesWenatchee.com
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From Skyline Drive, this is looking North and down on the mighty Columbia River cutting through the Wenatchee Valley. Wenatchee is in the foreground  and East Wenatchee in the background on the right of the river.      You can click on the image to enlarge, but what you can't see in the photo is where the Wenatchee River flows into the Columbia (on the left) just below the bridge in the center portion of the picture. 

The Columbia River is truly at the center of our economic strength, providing water to irrigate the fruit orchards,  produce hydro-electric power and support our vast recreational opportunities.  The Hydro power production literally provides some of the least expensive electric rates in the entire nation.  This has been a significant factor in attracting Yahoo and Microsoft to expand into Central Washington.    The Columbia River is the most hydroelectrially developed river in the world. 

The Columbia River flows approximately 1200 miles, originating in the Canadian Rockies of British Columbia, winding through Washington state, and taking a westerly turn to separate the southern border of Washington State and the northern border of the state of Oregon. 

The Columbia River is truly the "signature" feature of our beautiful valley.

Carol@TopPropertiesWenatchee.com
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Keep current with Wenatchee real estate news, info and trends

Here is an excerpt from today's Wenatchee World:
"Work has begun on a temporary access road to Fancher Heights.   The road is expected to open next spring and may one day become a permanent extension of Eastmont Avenue to relieve traffic congestion on Sunset Highway.   For now, though, it’s little more than a dirt track running from the end of Eastmont Avenue north to about Northeast 31st Street, then cutting up to Fancher Heights.

“They’ve pretty much scratched a pilot road all way to the top this week,” said Douglas County Engineer Jolene Gosselin.

The work on the road will continue through the summer, though the road will not open to the public until next spring. It will serve as an alternate route to Fancher Heights when the county closes Badger Mountain Road for renovations. It will be a two-lane oil-and-gravel road."

For more details on this project, contact me:
Carol@TopPropertiesWenatchee.com
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For the last few weeks, I've been negotiating with a builder to assist some clients to get a custom home built.  About 3 weeks ago, we spent 4 hours on-site discussing everything the buyers wanted.  Eventually, the builders came back with an estimate of costs.    So, we sat down over a conference table last Saturday to hash out the details.  At that time, the builders indicated they wanted to work on a "cost plus" basis.  This means cost of materials, labor, plus a guaranteed profit margin for the builder.   My buyers wanted a day or so to make a final decision.   In the meantime, the builder came back with an "actual list price".    Without going into all the details, let me just say this sounded safer for the buyers knowing they would be locked in with an actual price.  So, we agreed to their terms (with a couple of minor conditions attached).    WELL, the builder came back to us this morning saying they WON'T attach an actual price to the home until the home is framed and drywalled.   This could be 3 or more months away because it will take 5-8 weeks just to get the permit approved, then the foundation must be poured before the framing can begin.   Good grief.  What a merry-go-round. 

The gist of the apprehension on the builders part is that costs are going up so fast, they are literally scared to set a price this far out from completion.   Don't ask me why they made the offer in the first place.   In the meantime, what do my buyers do?  Do they wait or do they go shopping for a different home that has an actual price attached?   

Stay tuned...

Carol@TopPropertiesWenatchee.com
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Residential Blog

The average sale price for single family residences so far in 2006 in the Wenatchee real estate market has been $208,000 while East Wenatchee home sales have averaged $223,000.   We currently have 46 listings in the Wenatchee / East Wenatchee market area in the $150,000 - $250,000 price range.  Here is a link to that inventory of homes for sale. 

Moving into a lower price range, there are only 27 homes listed for sale in the $100,000 - $150,000 price range.  Here is a link to that inventory.    Many of the homes in this category are older and may have needed updating and maintenance issues.   

With such a limited inventory in this more affordable price range (100K - 150K), I researched the inventory of condos and manufactured homes in that same price range.    There are only 15.   

There are only 7 single family home listings under $100,000.     

If you want a specific search done, please let me know and I will customize a search for you.    And, as always, inventory changes constantly and cannot be guaranteed.   These links will only be good until June 23, but the inventory willchange drastically by then. 

When you bring up the spreadsheet, it you click on the listing number a screen will come up giving you an option of a "summary" "full information", "photo tour", "documents"... etc, etc, etc. 

Please contact me for a current list of homes for sale in any given price range.

Carol@TopPropertiesWenatchee.com
Do your own search of homes for sale  (This is not as customizable as my access to the MLS)

Wenatchee Center Hotel At Second & Wenatchee AvenueHere is the Wenatchee Center Hotel, located just across Second Street from the Bank of America Performing Arts Center at the Stanley Civic Center, in downtown Wenatchee.  The onsite restaurant, on the top floor of the hotel (overlooking the Columbia River) is the Wenatchee Roaster & Ale House.   

Here is a link to some other lodging options in the Wenatchee area.

Carol@TopPropertiesWenatchee.com
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For current Wenatchee real estate info

Wenatchee is in the news again and and local real estate values will apparently benefit.  This time the good news is that Wenatchee has been placed #2 in the entire nation (on the "Money" list) of  cities in the U.S. that will experience significant appreciation in real estate values over the next 12 months.   While there is considerable discussion across the country about deflating values and the so called "bubble" bursting, Wenatchee is poised for continued growth and price appreciation.    Washington holds 16 of the top 21 spots on this nationwide list.  This is phenomenol.

While the nationwide average for home price increases in the next year is forecast at 3.5%, Wenatchee is forecast to see a 16.7% increase.   That means if you own a $200,000 home, the value should increase to $233,400 by this time next year (or $2,782 per month)... not a bad little income.    This also means if you're in the market to buy, time is of the essence.  Now is definitely the time to buy before prices go up any further. 

Much of this forecast, of course, is a result of the strong economic forecast due to the anticipated job growth in the Wenatchee area.   I wrote about this a couple days ago.

If you have specific qestions about the market, please contact me:
Carol@TopPropertiesWenatchee.com
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Western Sky from our driveway. Click to enlarge imageCouldn't resist posting a picture of this evenings western sky at sunset.    To the east was a beautiful rainbow above the Fancher Heights area. 

Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com

Chelan County Courthouse - Wenatchee, WashingtonThis last week-end was the finale of the 2006 Washington State Apple Blossom Festival in Wenatchee.  The 10 days of festivities were capped off with a 2 1/2 hour Grand Parade on Saturday.    Although I didn't actually go to the parade, I did get some pictures of the floats as they were being staged at Triangle Park prior to the parade.  

When you've lived here as long as I have, you tend to purposely avoid the crowds, instead of getting in the middle of them.  On Friday afternoon, we did go to the food fair and wander through the craft booths.  The food/craft fair is held on the lawn of the Chelan County Courthouse  which is just to the right from the picture above.  Also on the courthouse lawn is an entertainment state, where they have entertainers lined up for the 10 days of the festivities. 

The Kiwanis have probably been serving pancakes at Triangle Park (prior to the Parade) for about 50 years.  It's really quite a good breakfast and we do go to that each year with friends.  They serve BIG pancaks and scrambled eggs with ham pieces in them... and lots of strawberry and apple topping for those who want it.  In the picture below, the front table (left to right) is my husband, Max, and our friends Carl and Tom (across from Carl on far right).  Click on any image to enlarge .  
Kiwanis Pancake breakfast - 5/6/06
Staging Apple Blossom Floats - 5/6/06
Apple Blossom Craft Booths - 5/5/06 
June Dorner & Max - 5/5/06

As I watch what is happening with growth and pricing increases in Wenatchee and the surrounding areas, I can't help but think the staggering price increases in the Seattle area, and western Washington in general, is having a significant effect on what is happening here.  

Much of the current activity in North Central Washington is coming from buyers with a "west side" address.   They're looking for investments and are being forced east by relative value for the money.   Now I see a ripple moving further east, with my very own Wenatchee area investors buying investment properties out in the Columbia Basin because prices have increased so much in the local Wenatchee market area.     There a multitude of reason why people are buying here, of course, but this "west side" factor certainly appears to be valid and significant.

We welcome these buyer, of course... but must realize, accept, and plan for,  how it will affect not only property values but the overall economic and social impact.  

Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com