NCW Real Estate Blog

Today the Justice Department helped Online Real Estate Brokers by forcing new industry policies that will give Online Brokers access to MLS data that they were previously denied.  The tentative settlement would prevent Multiple Listing Services affiliated with the National Association of Realtors from blocking access to Online Real Estate Brokers if approved by the courts.

Online brokers include services like Redfin which is active in Seattle.  There are a variety of approaches taken by various online services.

An article from MSN on the settlement is available here.  The settlement would not take effect until late summer at the earliest, but could have an impact on the local MLS systems [Read more →]

Tags: General Interest, Marketing // Add Comment »

While the national news is all about the Case-Shiller reports showing a huge 14% decline for the first quarter from almost every news source, we in North Central Washington are still holding our own with prices that are doing alright according to the most recent data here.  Sure, things have slowed from some of the craziness of the last few years, but overall North Central Washington is doing pretty well.  Compared to much of the country, things here are doing real well.

Even the MSN article about this latest report, while focusing on all the bad news, acknowledges that North Central Washington is one of the better markets:

In a few places — small cities and towns in scattered places — prices held, demonstrating the [Read more →]

Tags: General Interest, Local // Add Comment »

The “Snapshot” from Pacific Appraisal Associates for April is out. It shows a softening market in sales volume in both the Wenatchee multiple (down 15% in $) and the Wenatchee Market (down 27% in $). The number of homes sold is down 28% year to date in the Wenatchee multiple and 21% in the Wenatchee market.

But, the average home sales price year to date is still up [Read more →]

Tags: General Interest, Local, Marketing // Add Comment »

On May 29th and May 31st, two real estate auctions are scheduled to happen in Wenatchee!  The 29th brings a developer’s auction with Criterion Properties for a development at preliminary plat stage for 46 lots in Sunnyslope.  On the 31st, there is a builder’s liquidation auction with Northwest Auctions for nine new single family homes with warranties in Wenatchee and East Wenatchee!

Auctions are, and were even before the real estate market turned last year, the fastest growing method of selling real estate in the United States.  Why?  The reason is simple: with a well done auction, sellers get their property sold, at the market price, with a minimum of trouble.  In a market like we have today, [Read more →]

Tags: General Interest, Local, Marketing // Add Comment »

Very rarely do I get the pleasure to help a client with a property who actually knows some of the history of their property.  Even more rare is that the history is actually a compelling story.  I’ve never had discussions and research of the history of a property lead to current events, but that’s what happened for me with a client near Monitor.

What these folks have is: A property with a history….

 Bill & Laura Niemela have lived the history of their Fairview Canyon Ranch since 1970.  Although it is only ten minutes to Wenatchee, it is truly a world apart.  The views of both mountains and rivers are sweeping and spectacular and the spring flowers are vibrant.  Even the purchase of the property happened from a colorful twist in that the home on the ranch, built by Lawrence Netherton, had recently burnt down.  That misfortune may have been for the best in that Mr. Netherton had built the house with only seven foot ceilings since [Read more →]

Tags: General Interest, Local // Add Comment »

After discussing the issue at numerous meetings since February, a majority of Chelan County PUD commissioners voted Monday to allow more permits for private docks over PUD-owned land on Lake Chelan and the Rocky Reach reservoir.

Commissioners Norm Gutzwiler and Werner Janssen voted against the proposal. Janssen stated that he did not feel the resolution was fair for the majority of customer-owners. He said, “Since we spend so much money mitigating fish problems, it just doesn’t make sense to allow more docks.”

Gutzwiler did not comment on his vote. Supporting the measure were Commissioners Ann Congdon, Randy Smith and Dennis Bolz.  

The Water Street area in Chelan may be reconsidered later, as the city in the process of determining its interest in a possible “micro” park there.

The resolution contained the following conditions:

• Continue to issue permits for private docks on PUD-owned land above and below the water;
• Charge market rates for permits, with adjustments at least every five years — and as often as annually if the market changes abruptly;
• Continue a 90-day cancellation provision, but add that it would be for District need. 

Tags: General Interest, Land Use, Local // Add Comment »

With permission from the NWMLS comes the following:

KIRKLAND, Wash. (May 5, 2008) – Pending sales during April reached their highest level in eight months, according to the latest figures from Northwest Multiple Listing Service, which covers 19 counties in western and central Washington.

Brokers reported 6,208 pending sales (offers made and accepted, but not yet closed) last month. That was the highest number of transactions during one month since August, when MLS members notched 7,751 pending sales of single family homes and condominiums. Compared to the same month a year ago, pending sales were down about 32 percent.

Other indicators tracked by the multiple listing service were mixed.  Prices for sales that closed during April were [Read more →]

Tags: General Interest, Marketing, Northwest // Add Comment »

What math?  Do your own analysis of the affordable housing information.  For instance, 20 years ago was the proportion of the population that couldn’t afford the “median” house in Wenatchee the same as it is right now?  Of course not, so don’t make that a fixed number for the next 20 years.  Assume the ratio of median income to median home prices will fluctuate with the markets.  We’re a historical high for median home prices right now relative to income.  You might want to assume a more average number over the last twenty years for your analysis rather than the number the consultant used for the current situation.

Sometimes, a polished presentation can get folks to buy into something hook, line and sinker.  Maybe the presentation supports a position that was suspected, so it is not questioned.  Maybe the presentation reflects the desires of the special interests that specified the consultant.   I don’t expect them to question it. 

In this Wenatchee World Editorial, the often thoughtful editors on the 26th of April wrote a [Read more →]

Tags: General Interest, Local // Add Comment »

From the PUD today:

Following more discussion on the policy allowing permits for private docks over PUD-owned land on Lake Chelan and the Rocky Reach Reservoir, commissioners asked staff to present a final proposal for a decision on May 12.  The policies discussed Monday are available here and are worth a look.

Commissioners reviewed options from staff and listened to comments from five community members on Monday. They also agreed to exempt the Water Street area in Chelan from the policy until the city determines its interest in a possible “micro” park there.

Commissioners asked staff to prepare a resolution that [Read more →]

Tags: General Interest, Land Use, Local // Add Comment »

A reader sent in this question:

In the Sunday Seattle Times there is an article about a new law starting June 12, requiring professional condo Reserve Analysis.  You can check out the article here.

This statute was news to me, and I assume most condo associations have no idea about this new requirement.  Lenders are probably going to want to know about your reserve analysis (or lack thereof) when a sale or refinance occurs [Read more →]

Tags: General Interest // Add Comment »