Shelley Granger and I are very happy to announce the opening of our new Wenatchee real estate office.  As is obvious from the logo at left, the name of our new company is Willinger Real Estate, a result of combining our  last names (Williams and Granger). 


Willinger Real Estate agents will focus on primary residential sales and listings, as well as multi-family and investor properties.  We will do property management and soon be able to offer our services to Condo Home Owners Associations (HOA's) as well.    We offer phenomenal customer service and will customize our services to the needs of each individual client.


At this time, the company consists of Shelley, me and one other agent, Candy Armstrong.  Candy has had her real estate license for about 29 years but she has been keeping busy as a full time appraiser.  She's now ready to get back into real estate sales and assist us with all phases of the business. 


It's been a whirlwind of activity getting all the legal logistics of setting up the company but stay tuned for more new and exciting developments. 


Have a great week-end!

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Contact the Willinger Team Today:
Carol Williams: CarolWilliams@charter.net
Shelley Granger:  ShelleyGranger@charter.net
Candy Armstrong:  Candy@ncwonline.com

After an unusually long break from blogging, I am going to try to get back to some regular posting.  Life and work has filled my days (and nights) and I took a much needed 4-day mini vacation on the Oregon coast about a week ago. 


So, are you curious about what's happening in the Wenatchee real estate market?  Everywhere I go... and I mean everywhere home or away... people ask me "How is the real estate market".  Of course, they read and hear all the negative media and wonder if it is as bad as they are hearing.


There is definitely still quite a bit of selling activity going on BUT there is also ALOT of inventory.  For example, in the $225,000 - $275,000 price range there are currently 101 homes on the market.  How does an agent who has clients in that price range decide which ones to show?  We certainly can't show 101 homes to one client.  Of course there are always certain criteria a client is looking for but it's still a lot to choose from. 


I've noticed more sign switching going on lately, meaning sellers are switching agents thinking that will help their home sell faster.  What's really going to help their home sell is to price it competitively with the competition.


Yesterday was our weekly agent tour day.  This is when we go out and preview the new listings on the market (and also a few the agents put old listings back on tour because their listings haven't sold and they want us to take another look).  Shelley and I love tour day because it helps us tremendously with keeping up with inventory and pricing trends. Plus, we get to visit with agents and talk business.  The problem is there are so many homes on tour we can't physically get to them all in the alotted 3 hour time frame. 


I guess my point to all of this is... in the current market it is critical for sellers (and agents) to be very competitive and stage and price their homes tightly.  You absolutely cannot "play" the market.  If that's your strategy you just need to stay out of the market and let those who really want and need to sell do it.  


Our Wenatchee area economy is still strong and vibrant and there is no cause for concern.  Even though the market has slowed, there is still activity and well priced properties will sell. 


Have a great day!
Carol


For the most current Wenatchee real estate news, info and trends contact the Top Team:
Carol Williams  TopTeamCarol@gmail.com
Shelley Granger  TopTeamShellwy@gmail.com
Free search of all home in the Wenatchee MLS:  www.TopPropertiesWenatchee.com
Current Wenatchee Condo information:  www.WenatcheeCondos.blogspot.com


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In spite of the significant slowdown in Wenatchee real estate market activity, we are still seeing a decent number of pendings and closed sales comes across daily.  


One of the most interesting statistics I noticed on the May Pacific Appraisal SNAPSHOT report was that the number of homes sold year-to-date is DOWN 28%, BUT the number of homes listed year-to-date is UP 11%.  That will certainly do the trick in stabilizing prices by increasing supply over demand!


What Shelley and I are seeing is lots of homes coming on the market BUT they are cleaner and more competitively priced than we have seen in a very long time.  Homeowners are realizing they must do everything possible to make their home stand out in the (literal) crowd.  That means cleaning it up, deordorizing and pricing it realistically.   


Although statistics show a significant reduction in sales activity, we are still seeing healthy demand.  It appears the financing crisis has put a damper on many wannabe buyers and we are seeing more inquiries for seller financing and lease/purchase options.  We are also seing a strong demand for rental homes and vacation rentals.


The Wenatchee economy continues to be strong. We are blessed with a number of major industries, including hydro power production, aluminum production, agriculture, medical services, government services, educationaal services, and tourism.   With the population in the local area forecast to increase by 50% in the next two decades, housing will continue to be in high demand. 


As always, prices will be solely determined by the balance of supply-to-demand.  










For customized service contact the TOP Team:
Carol Williams  TopTeamCarol@gmail.com  
Shelley Granger  TopTeamShelley@gmail.com  


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Welcome To WenatcheeThe latest report out of OFHEO (Office of Federal Housing Enterprise Oversight), released May 22nd,  indicates Wenatchee has moved into the #3 spot in the nation for the last 12-month's appreciation rates. 


Wenatchee held the number one spot for a full 4 quarters and this slowdown is actually good news.  Our appreciation rates had been so rapid for so long, it was on the verge of insanity.  We now have plenty of inventory to feed the demand and prices have leveled out.  If you have a good cash downpayment and good credit, it's a great time to buy because sellers are finally realizing the market has changed.  We are seeing a lot of price reductions due to overpricing.


Wenatchee was also recently named #3 in the nation as a great place to buy a vacation rental.  Other than motel rooms, there are very few vacation rental rooms available in Wenatchee.  We are constantly getting inquiries for furnished short term rentals (condos in particular).  Vacation rental demand is high.  I wrote an announcement post about that recently entitled "Wenatchee Named A Top Vacation Rental Market" .  


Positive cash flow is long gone in the primary residential investment market.  But, if you're still looking for a way to enjoy the financial benefits of investing in local real estate, the Wenatchee vacation rental market could be the next big thing.  


For customized service contact the Top Team:
Carol Williams     TopTeamCarol@gmail.com
Shelley Granger  TopTeamShelley@gmail.com  


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Shelley's Wenatchee Marathon relay team.   This picture was staged because they each ran an individual leg, but it's a great picture of the awesome 5... Zoe, Shelley, Diane, Meghan, and Natalie.
Click on image to enlargeLast week I briefly mentioned the Wenatchee Marathon in one of my Washington State Apple Blossom Festival related articles.  Unfortunately, I didn't have my camera with me (which is a very rare instance) so I didn't have any pictures to post.  


The Marathon was held on April 19th and the runners were surprised to be greeted by snow when they woke up, and during the start of the race.  The inclement weather didn't last long and it turned out to be a good race day.


My good friend and business partner, Shelley Granger, was part of a relay team with 4 of her friends.  Shelley ran one of the 10K legs and was the first runner for her team.   Shelley's husband, Keith, did the full marathon and qualified for the Boston Marathon for the second year in a row.  
Shelley & Keith in the snow before the beginning of the race. Click on image to enlarge










* The Wenatchee Marathon  benefits cancer research and local charities.  Over $8,000 was raised this year.    There were a total of 5 various events for runners AND walkers, including a special race for kids.

In spite of the unseasonably cool weather this year, it's a fun and exciting time of year in Wenatchee, Washington.  This time of year is full of very fun and unique activities in the Wenatchee valley.  I've been so busy with life and work, I've missed writing about many of them, but do want to mention a few and give you some links to read more, and access pictures, if you're inclined. 


Yesterday, Thursday April 24th, was the first official day of the annual Washington State Apple Blossom Festival, held in Wenatchee every year.  This is a VERY BIG deal here with 11 days full of activities.  Click on the above link to have access to all the details of events that will be taking place in the "Apple Capital of the World" over the next several days.   I can't even begin to list all the events and activities here.




Volunteer Crew for the Newbery Elementary School Youth Parade FloatTomorrow is the Youth Parade.  This picture, to the left, is an insiders sneak peak at the John Newbery Elementary School's entry in the youth parade. Click on the image to enlarge and see the smiling faces of these awesome volunteers.  My friend and business partner, Shelley Granger (in the Mickey Mouse t-shirt), was the chairperson for this committee and they worked really hard all week to design and construct this masterpiece, "A Slice of Paradise".  The parade starts at Triangle Park at 11:00 a/m, going down Orondo, north on Mission, ending at Fifth Street. 


Next Saturday will be the Grand finale event of the Festival... the Grand Parade. 




And... building up to Apple Blossom festival are several other major events:


* The hugely popular Ridge to River Relay has a separate event for kids and adults.   Click on the link to get results, info, and lots of pictures of the youth and adult events.


* The Wenatchee Marathon  benefits cancer research and local charities.  Over $8,000 was raised this year.    Shelley was part of a relay team for this event and it was so much fun to go cheer her on. She's not really a runner person but she trained for the event and did awesome.  Even the early morning snow could not dampen their team community spirit. 


When this years events are over, planning will begin almost immediately for next year.   It's all a HUGE undertaking, with hundreds of volunteers for the various events. 



Have a great week-end,













Thinking of buying or selling real estate?  Contact the Top Team today:
Carol Williams  TopTeamCarol@gmail.com
Shelley Granger  TopTeamShelley@gmail.com


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

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



FREE search of the entire Wenatchee MLS

Current Wenatchee condo news, info and trends

In spite of crazy weather challenges, I have inside information that SR 28 will be re-opening ahead of schedule... as early as this afternoon about 5:00.  Yeah!


Good Job JANOD !














For customized service buying or selling real estate contact the TOP Team:
Carol Williams  TopTeamCarol@gmail.com  
Shelley Granger  TopTeamShelley@gmail.com  



FREE search of all Wenatchee MLS homes and land for sale
Current Wenatchee condo news, info and trends

Looking for a full sized house to rent in Wenatchee?  We will have two excellent rental homes coming up in April.  One in Wenatchee.  One in East Wenatchee.



Weatchee 4 bedroom rentalApril 1st:  Nearly new 4 bedroom, 2 3/4 bath conveniently located in Wenatchee. 

$1450 per month







Early May: 
4 bedroom, 2 3/4 bath on The Plateau in East Wenatchee.  
Lease-to-own would be considered.  Terms to be negotiated.

Rental rate:  $1495 per month





For more information contact the Top Team:
Carol Williams TopTeamCarol@gmail.com
Shelley Granger  TopTeamShelley@gmail.com 

Over on my Wenatchee condo blog, I have posted some current information on inventory and pending sales. 


Shopping and sales activity seems to be picking up with our warmer weather and Spring approaching.  It appears my prediction of people accepting condos as the new affordable housing is coming to fruition.  Nearly an equal number of young first time home buyers, single parents, and retired folks on a fixed income seems to fit the profile ff most condo shoppers in the under $200,000 price range. 


Shoppers in the over $200,000 price range have a wider scope, many of which are retired folks with more spendable income, and non-residents looking for a low mainteance option second home in the Wenatchee valley.


Have a great week-end!

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


If you are thinking about buying or selling a Wenatchee home or condo contact the TOP Team today:
Carol Williams  TopTeamCarol@gmail.com
Shelley Granger:  TopTeamShelley@gmail.com

Last week I wrote about an experience we had with a recent home inspection.  So, maybe you're wondering what happened next. 


We originally intended to hire a structural engineer to give us a recommendation on how to repair it, then get a contractor to give us a bid on the actual repair work.   The problem with that plan was the seller said to put the paneling back up for the next showings.  This made the foundation inaccessible for the engineer to do the structural inspection.  It was obvious the sellers didn't want to work out a compromise with us.  They're, apparently, hoping to sell to someone less critical about the structural integrity of the house.  


The bottom line was, we didn't want to get several hundred more dollars into inspections if there was a slim chance the buyers would actually be able to negotiate a settlement with the sellers.


Turns out the seller wasn't willing to give an adequate concession for repairs and we decided to walk away from the transaction before we got any more time or money invested.  This just didn't have a good feel any more. 


So, we moved on and are now looking at other homes to meet their needs. 


Note:  In spite of the fact that we were told to put the paneling back up before the next potential buyers came along, I am hoping the seller's agents explained to the sellers the extreme position of liability this put them in.  If they truly did not know about the foundation problem before they put it on the market, that is one thing.  BUT, now that they do know there is a problem, they are required to disclose the problem or face the financial consequences.  Probably never will know how that will play out.



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



For customized service contact the TOP Team today:

Carol Williams  TopTeamCarol@gmail.com 

Shelley Granger  TopTeamShelley@gmail.com 



FREE Search of the Wenatchee area MLS

Current Wenatchee condo news, info and trends

This is NOT the actual subject propertyOne of the things Shelley and I are very proud of in our business is the "team" of experts we have assembled to assist our clients.  It is very important to us to provide the best possible level of service EVERY step of the way through a transaction for both home buyers and sellers. 


One of the extremely important steps in a home buying transaction is having a complete, comprehensive, home inspection done.  Even though there are many, we have two inspectors we recommend for our transactions.  The buyer, of course, is free to chose any inspector they want because they are paying for the inspection but if they ask our opinion, we do have certain inspectors we have had good experience with... and others we find less than satisfactory in their reports.


Anyway, we are currently working with a buyer who had found a home they wanted to make an offer on.  The home had a "contingent offer" on it, so we were trying to bump the contingent offer and put ourselves in first position to purchase the home.  However, in doing so, Shelley and I would NEVER, NEVER, NEVER, do anything we would consider to be to the detriment of our client.

Turns out the "contingent" offer buyers had waived ALL repair requests (except those associated with a clear pest inspection).


That put us in a precarious position.  Do we write up the contract offer to waive the typical inspection contingencies and be prepared to purchase the home "as is" or do we go forward with our inspection requests and risk losing the house? 

Well, we NEVER, NEVER, NEVER recommend buying a home without a full home inspection (including new construction).   Firstly, we strongly believe this is a critical step in having the buyer attend the home inspection to become familiar with the home they are buying.  This is an important step in getting to know their new home.  In our view, a home inspection is not so much about being sure there is NOTHING wrong with the home as being sure there are no health or safety issues wrong with the home.  It's an important aspect of the transaction.  But, I digress from the story at hand.


At my suggestion, the buyer agreed we should compose the contract to include all typical inspections (home inspection, pest inspection, etc).  Again, keep in mind, the home already had a contingent offer with no repair requests.  We requested a home inspection (at the buyers expense) and a clear pest inspection (at the seller's expense).  After some negotiating with the purchase price, the offer was accepted.  But, the contingent buyers would not be put on notice until we waived the inspection contingencies. 



So, we proceeded with our home inspection.  It revealed a number of "issues", the most serious of which involved a bulging wall in the basement.  The wall was covered with paneling so it required us to remove the paneling and see what was behind it.  And what did we find?  A collapsing foundation!!!  Yes, a collapsing foundation.  The concrete blocks were separating due to excess moisture ilfiltraing the ground on the exterior, creating extreme pressure pushing the foundation wall inward.  We had a problem. 



There were actually two problems.  1) We needed a structural engineer to come look at the wall and make a recommendation so we could get a bid for appropriate repairs and,  2)  The sellers were asking us to replace the paneling (before we could get the engineer in to look at the foundation) because they had more showings later that week.  Red lights started flashing at this point.     Hmmm... what should we do next? 


To be continued...



Have a great week-end,











For personalized real estate consultation contact the TOP Team:

Carol Williams  TopTeamCarol@gmail.com

Shelley Granger  TopTeamShelley@gmail.com 



FREE Search of ALL Wenatchee area homes in the local MLS 

Current Wenatchee condo news, info and trends


Remember: 

Information is FREE.  Knowldge, Experience and Integrity are Priceless

I checked in on The Housing Predictor website today to see what it had to say about the current state of real estate across the country.   I've been touting the strong and diverse economy that Wenatchee enjoys and how the Wenatchee real estate market is still strong.  Yes, we have seen a slow down in activity but a slowdown from the frenzy of the last few years is actually a welcome reprieve. 

If you compared the Wenatchee real estate market to the speed limit, we have been traveling at 100 miles per hour for the last few years.  We have now slowed back to the speed limit and it seems slow, but it's really a much safer pace. 

According to this post, there are six states still enjoying a healthy real estate market.  Washington is one of the six and Wenatchee, of course, continues to be rated number one in the entire nation for appreciation (for the third consecutive quarter) by OFHEO. 







For professional, customized real estate service contact the TOP Team:
Carol Williams  TopTeamCarol@gmail.com
Shelley Granger  TopTeamShelley@gmail.com

FREE Search of all Wenatchee homes and land for sale 
Current Wenatchee real estate info, news, and trends
Current Wenatchee condo info, news, and trends


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