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Leavenworth News Update
2007-11-29 02:27:00
Water Moratorium Continues-The city council voted to extend the water moratorium currently enforced in Leavenworth for another six months. The vote came at a council meeting on Nov. 13th. The initial moratorium was enacted due to 1200 applications for water hook ups and only 112 hook ups available. The city plans to devote a large portion of the Dec 11th meeting to revisiting the moratorium and possibly giving smaller projects within the city and urban growth boundary an exemption.Good Morning America sets up shop for a live feed from the village green on Thursday Nov. 29th. The feed will begin at 4am, 7am New York time, featuring the Bavarian village lights and general Christmas theme. Many shops plan to be open for the gathered crowd including Uncle Uli's Pub and Starbucks.The Gypsy Cafe has opened its doors. Leavenworth's newest restaurant, located at 931 Commercial St, offers paninis, soups, salads, and a revolving dinner menu. Their focus is on healthy organic food. Hours are...
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Leavenworth Shorts: Nov 16
2007-11-16 19:53:00
Leavenworth will have a new mayor starting Jan. 1, 2007. Rob Eaton, a Leavenworth City Councilman, ran unopposed in this year’s election. Eaton said he is very excited and “looking forward to continuing the tasks that have been laid down.” Local Olympian, Torin Koos, got pulled over last Saturday for obstructing traffic on his roller skis. A local resident called the police a Koos started up Beaver Valley Hill leading out of Plain. The resident was concerned since the road has no shoulder and hairpin turns. Koos is a two time cross-country ski Olympian. Leavenworth Winter Sports Club is holding their annual fundraiser this Sat Nov 17th at the Enzian Inn from 6:30pm to 9:30pm. This year's main goal is to expand Junior and Adult ski programs and instruction. There will be a silent and a live auction. Tickets are $18 and can be purchased at the door. The Cascade High School football team continues to win. They defeated Cle Elum 42-14 last Friday night. Cascade will head to Pasco...
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Leavenworth Condo Update
2007-11-12 23:25:00
Leavenworth Condo Update In an earlier post I called 2007 "The year of the new condo" in Leavenworth. We have seen 5 new projects come on the market this year. River Park Homes, The Boulders, Aspen Suites at Icicle Village, Haus Wunderbar the newest on Titus Road. Condominiums have always been a hot item here in the Bavarian Village, but we probably didn't need so many new condos all at once.The number of condos listed in Leavenworth so far this year is up 176%! Last year 50 were listed and this year the number is 138.The number of sales and the sales prices are up considerably, but there is still too much inventory for the market to absorb.As of today's date 23 Leavenworth condos have sold. That's up 53% from last year. The average price is up to $298,000 up 48% while the median price is up 65% to $325,000. Of course not all condos in town have gone up that dramatically in price, the majority of the price increase is the large numbers of new construction condos that have sold.The...
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Leavenworth Shorts: This week's news Highlights
2007-11-08 02:20:00
-The city council has decided on the design firm for the Leavenworth Train Station to be located on North Rd. HNTB Engineering Firm of Bellevue will be designing the platform. The plan is to break ground spring of 2008 and have trains stopping by the fall. -Tierra Learning Center is closing their doors. The future of the 315 acre site is uncertain but a local couple is looking into educational uses for the site. The 2 acre organic share farm will continue next year. -The Leavenworth Winter Sports Club is having their ski swap this Sat, Nov 10 from 9am to 11:45am at the Cascade High School. A $1 donation is accepted at the door. -Cascade High School football team has made into the first round of the state championship. They play Cle Elum on Friday night. *Information from The Leavenworth Echo-Nov 7, 2007, Volume 104, No. 45
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Lake Wenatchee Ski News
2007-11-05 23:02:00
Lake Wenatchee XC Ski News from Lake Wenatchee State Park Hello everyone, We're starting out the season with some unfortunate news. We will have no trails groomed out Nason Ridge this season due to logging on Longview Timber Company lands which begin immediately South of Kahler Glen Golf course and include most all the trail system "up top". We will be grooming our "core trails", including 8k in the South Park, 5.3k in the North (limited skate lanes), and 8k at Chiwawa See&Ski (skate lane full distance). Though we never know for certain year-to-year, Longview believes the logging will be completed this season and access to their land next season will likely resume. Many thanks to Longview Timber Company for allowing access to their land in the past, and we hope to be skiing up there next year!Thanks, Rick Halstead Park Manager Lake Wenatchee State Park
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Win a Leavenworth Night Out!
2007-10-12 02:08:00
I just started a new ad campaign and I need to see if anyone is seeing it. It should be starting soon in the greater "Eastside" area - Bellevue, Kirkland, Redmond, Mercer Island. If you are the first to spot my new ad I'll send you a $50 gift certificate to your favorite Leavenworth restaurant.Good Luck...Update 10/16For every guess or attempt that gets logged here as a comment, I will provide a hint. The more guesses, the more hints I will provide until someone wins. (Emails to me are nice, but only "comments" will result in hints. Jim, Holly, Mark, Jordan, and the rest of the lurkers... I'm talking to you.)
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Foreclosures 101
2007-09-18 19:48:00
Foreclosures, short sales, and auctions seem to be on everyone's mind as the media continue to squawk about the national real estate slump. We don't see a lot of foreclosures in Leavenworth and I don't expect we will. Appreciation has been strong the past 3-4 years (giving home owners lots of equity). Additionally, we rarely see buyers who are using exotic loans like negative amortization or interest only. I see a lot more cash sales than I do buyers paying less than 20% down. The people I see in Leavenworth getting in trouble are those people who used their house as a piggy bank with HELOCs and multiple-refis. Jason Schwieger, of Brio Realty wrote a great article about Investing in Foreclosures. This is required reading for anyone thinking of getting into the investing game. Allyson and I get lots of questions about this and I think Jason did a great job explaining how it works.
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Leavenworth Luxury Condos
2007-09-06 17:35:00
Luxury Condos in Leavenworth Washington? Yes, it's true. The condo market has been going strong here for a number of years and 2007 has brought Leavenworth a number of new condominium projects. For the first time, Leavenworth has condos that meet the upscale needs and desires of the luxury real estate market. Windermere Real Estate in Leavenworth is proud to represent both the Boulders Condominiums on the Wenatchee River and River Park Condominiums overlooking Blackbird Island in downtown Leavenworth. The Boulders are 6 units on Alpensee Strasse on the East edge of Leavenworth overlooking the Wenatchee River. All units have two bedrooms and two baths and are 1500 square feet in size. They have fantastic 10 foot ceilings, gas fireplaces in the living room and master bedroom. Gorgeous well appointed kitchens and most importantly - great windows and decks for viewing the Wenatchee River. At this time only 3 units are still available. Prices start at $595,000 Click here to see more of ...
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Leavenworth Mortgage Crises?
2007-08-28 07:12:00
People have been asking me how the recent mortgage meltdown will affect lending in Leavenworth. The truth is, the 'crises' is actually helping people in Leavenworth. As you might imagine, few people purchase a vacation home with a subprime mortgage, and the typical Leavenworth buyer is at the far end of the spectrum from the person who needs one. So the collapse of this financing doesn't hurt the Leavenworth market at all. Where the benefit comes from is this: Within the secondary mortgage financing world there is a 'flight to quality'; investors are hungry for Mort gage Backed Securities (MBS) composed of low risk -high quality mortgages. As a result, they are paying more for these good MBSs, which like a bond, drives down the interest rate. The bottom line is, conventional rates for good mortgages are dropping! Jumbo loans are a little different. A jumbo is a loan amount above $417,000. Secondary financing for Jumbos has also dropped off, as a result, jumbo rates with the ...
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Lake Wenatchee Real Estate
2007-08-24 23:16:00
Real Estate at Lake Wenatchee and Fish Lake has really taken off in the last decade. Lake Wenatchee's popularity comes from the wealth of recreational opportunities (boating, fishing, wind surfing, hiking, snowmobiling, skiing, golfing) and it's proximity to the Seattle area.I wrote about Fish Lake real estate in a previous post, so this article will be mostly about Lake Wenatchee.There are two roads that skirt Lake Wenatchee and serve as separate neighborhoods. Cedar Brae (aka South Shore road) runs along the South Shore. It starts at the South entrance of Lake Wenatchee State Park and passes Kahler Glen Golf Club. At the other end of the road is Camp Zanika Lache, a Campfire Camp, a number of cabins on leased Forest Service land, and a trail to Hidden Lake. On the north side of the lake, North Shore Drive runs from the Lake Wenatchee Highway near the YMCA camp to near the White River road near the former site of the Cougar Inn. The north shore of Lake Wenatchee is often preferre...
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Riverfront Lots in Leavenworth
2007-08-08 00:30:00
Buying a riverfront lot in Leavenworth or Lake Wenatchee Washington?Recently I wrote an article about buying a riverfront home in Leavenworth. I talked about the different options such as the Wenatchee River, the Chiwawa River and Icicle Creek. For some people, buying a home on the river doesn't compare to building a custom home on the river. Building lots in Leavenworth and Lake Wenatchee (Plain) are more expensive every year. This is especially true with riverfront.In 2006, 15 parcels on the river sold in the Leavenworth area. The average lot sold for $246,000 for a lot under 1.5 acres in size. The median price for a lot was $275,000.In 2007, through the end of July, 5 riverfront lots have sold. The average price is $307,000 for approximately 1 acre.Currently, there are 6 active lots on the market with a median price of $385,000. The least expensive is $279,000.3 lots are under contract (pending) with an average price of $273,000.I generally tell buyers that they should expect to...
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Leavenworth Riverfront Properties
2007-08-06 01:17:00
Buying a riverfront home in Leavenworth? Ever dreamed of a log cabin on the river in Plain? How about Icicle Creek? For many home buyers in the Leavenworth, Plain and Lake Wenatchee area buying a riverfront home has been a lifelong dream. There a number of rivers to choose from: The Little Wenatchee River and the White River flow into Lake Wenatchee from the Glacier Peaks Wilderness Area. There are a few opportunities here, but they are rare. Homes on these rivers are far from services and are likely to feel very remote. Winter access is something to think about – skiing or snowmobiling in may be your only option. The Wenatchee River provides most of the opportunities for riverfront living. The Wenatchee River starts at Lake Wenatchee and heads down to Leavenworth (via Tumwater Canyon) and then on past Peshastin, Dryden, Cashmere and Monitor to Wenatchee where it meets the Columbia River. Most of the river recreation in the Leavenworth area takes place on the Wenatchee River. Th...
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Don't mess with the Chumstick!
2007-07-31 21:10:00
Don't mess with the Chumstick! Last weekend a couple of the dumber inhabitants of Western Washington came to visit our sleepy berg.These hoodlums attempted an armed home invasion on the Chumstick Highway north of Leavenworth and got an education about rural living.The homeowner grabbed one of the robber's pistol and shot him. Both robbers fled and gave themselves up to local sheriff's deputies.You can read the full article here.In my opinion, both robbers are lucky to be alive. The Chumstick neighborhood is typical of rural Eastern Washington. The number of firearms - shotguns, pistols, and hunting rifles, per capita is probably fairly high. If you try and break in to a home here, plan on gettting shot or shot at.
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Cashmere Real Estate Update
2007-07-31 20:46:00
Cashmere real estate has picked up since I wrote about it in March for my last Cashmere real estate market update.The number of houses sold in the first half of 2007 is up 35% from the same time last year. The sales volume is up 53%!! This year 5.5 million dollars worth of homes have been sold in Cashmere in the first 6 months.The average sales price in Cashmere is now $292,000, up 12% from 2006. The median sales price is up 31% to $282,000!Right now there are 29 homes for sale in Cashmere at an average price of $396,000.There are 10 pending sales with an average listing price of $325,000. This will continue to raise both the median and average sales prices for the year.What is driving Cashmere real estate? I think Cashmere is a cute town, centrally located between Wenatchee and Leavenworth. For those commuting to either city, it is about a 15-20 minute drive. There are options for rural living or small town living in cute Craftsman era homes. Cashmere's school district is also in ...
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Leavenworth real estate update
2007-07-30 21:54:00
Leavenworth's real estate market seems to be following Westside trends. Home prices continue to climb, but fewer homes are selling according to data comparing the first half of 2006 to the first half of 2007.Through June 30, 2007 the number of single family homes in the Leavenworth market that have been on the market is up 9% from 2006. Pending sales and # of homes sold are both down 15%. (These numbers exclude condo sales and manufactured homes.)Sales volume for the first half of the 2007 is up only slightly (5%) over 2006 at $21.8 million dollars.The continuing rise of prices in the area is probably leading to the slowdown in sales. Average home sales prices are up 25% over last year to $376,000, while median sales prices are up 17% to $305,000.As of July 30, there are 111 single family homes for sale in Leavenworth at an average price of $518,000. Currently, there are 14 homes pending or under contract with an average price of $467,000.Anecdotally, I am seeing the same trends I ...
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Insurance for Vacant Land?
2007-07-09 16:28:00
The Importance of Insuring Vacant Land By Eric Kossian of Leavenworth Insurance While vacant land doesn’t have any structures that could burn down, the landowner is still subject to liability lawsuits, so it is advisable to have liability insurance coverage. To obtain vacant land liability coverage inexpensively the first choice is simply having your agent extend liability from an existing homeowners policy and/or excess liability (umbrella) policy. This costs almost nothing. But what if you don’t currently own a home? There’s a policy you can get that will cover up to 500 acres of vacant land including up to 25 acres of lakes or ponds. There must be no structures or commercial use and no plans for development or construction during the term. (Once you are ready to build your dream home, you would cancel this and get a Course of Construction Policy which would also cover liability.) Liability coverage on a Vacant Land Policy has no deductible and uses the expanded definition of...
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Leavenworth Home Tour - This Weekend!
2007-07-06 16:47:00
Windermere Real Estate in Leavenworth is holding an open house event with about a dozen homes throughout the Leavenworth, Plain, and Lake Wenatchee area. Home s on the tour range from small cabins to larger homes on the Wenatchee River. Prices range from under $200,000 to over $800,000. We will be hosting this event from 12-3 on Saturday. Maps will be available at our office on Highway 2 in downtown Leavenworth and at each of the homes on the tour. Three drawings for dinner at Leavenworth's newest restaurant - South - will be held. Enter the drawing at each of the homes you visit. Increase your chances and visit them all! Click here to see some of the Leavenworth Homes on tour.
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Leavenworth Horse Property
2007-06-21 02:17:00
Horse property in Leavenworth WA is hard to find. There are two obvious reasons for this. First of all, land here is becoming more valuable every day - larger parcels continue to be split up into smaller ones that aren't roomy enough for horses. Secondly, we are on the slopes of the Cascade Mountains. We have a lot of hill country and not the large flat expanses that you need for horses.My partner Allyson and I have two great horse properties for sale in the Leavenworth area.The first is on the Chumstick Highway about 9 miles North of Leavenworth towards Plain. This is a two bedroom home on 10 acres. The home was built in 1991 and is about 1500 square feet. The property comes with a fenced corral, a barn and huge 4+ car garage that is big enough for a bus. This house is listed at $500,000. An additional 2 parcels are available for a total of 34 acres.Click here to view a virtual tour of this Leavenworth horse property.The second property is also a two bedroom home with two baths. T...
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Helping the kids get their First Home
2007-06-14 08:53:00
Many homeowners I talk to are excited about all the appreciation they have gained over the last few years, but for us Baby Boomers, the conversation often turns to : how are my kids ever going to get into a home? This has been an issue in the Puget Sound region for some time, but now we are having to address this issue in our markets of Leavenworth and Wenatchee. With the basic starter home prices growing faster than most people’s salaries, it is getting exceedingly difficult for young people to get into their first home. If you want to help out a child, grandchild or close relative, it is a good idea to talk to a competent lender ahead of time, because sometimes good intentions and logic don’t mesh well with lending rules. Can I Co-sign? Cosigning on homes does not carry the same impact as it does on cars; the buyers still need to basically qualify for the payment themselves. Your credit score doesn’t pull theirs up, and if you aren’t going to live there, the rules belo...
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Leavenworth Real Estate Market Update
2007-06-06 06:24:00
The Leavenworth real estate market is made up of a number of different sectors that always seem to be moving in slightly different directions. The majority of consumers, whether they are local homeowners looking at an increased tax bill or out of town investors, look to the growth of prices to gauge the strength of the market. Home prices in Leavenworth WA are certainly up. At the end of May the average list price for a single family home in the Leavenworth area (including Lake Wenatchee and Plain) was $518,000. This is the number that tends to excite people and this is the number that most folks see when browsing the internet or looking in local homes magazines. Of course the number that has more importance is the average SALES PRICE which is what the buyers are willing to pay. Considerably less - $354,000. But as I said before, this is a tale of multiple markets wrapped up in each other.The bulk of the Leavenworth real estate market is single family homes under $600,000 that are n...
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Leavenworth Insurance - An Interview with Eric Kossian
2007-05-23 18:06:00
10 questions for Eric Koss ian of Leavenworth Insurance Here is my second installment of my "10 Questions" series. Eric Kossian of Leavenworth Insurance is a insurance broker in Leavenworth, WA. He is located on Highway 2 in Leavenworth next to Jerry's Saw Shop. His motto is "We love to save you money!" 1. What does an insurance broker do? Geordie, an insurance broker locates and shops insurance products to protect clients from the financial risk of loss due to such things as fires (property), accidents (liability), death and unsecured retirement investments and income. While most agents think in terms of selling product that is incorrect; we are in the business of asset protection. Some examples of personal assets could be an owned home, cars, income- your ability to produce it, your life (yes, it is a financial asset), and investments. We then use a wide variety of insurance and annuity products to safe guard assets. A good insurance agent asks you lots of questions about everythin...
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10 Questions: An interview with mortgage lender Darel Ansley
2007-04-28 00:55:00
This post orginally was published on my Active Rain Blog. It is the first in a series of interviews I call 10 Questions . Here Dare l Ansley a Real Estate Lend er with Peoples Bank takes the hot seat. 1. What questions aren't consumers asking their mortgage lender? There is an important question, but more important is who do you ask the question of? I suggest shopping around and getting 3 or 4 Good Faith Estimates (GFE) for a potential purchase. Get these in person, because out of these interviews and GFEs, you are going to learn who you can trust. Once you find that lending professional, you have someone you can stick with for the future. Now you have someone intelligent enough to ask the big question which can save you thousands of dollars in interest. People should ask, “What is my best rate and fee option if I plan to live in this house X number of years.” Many people ask for the lowest rate or they want no origination, when these choices are often not the best for them Points...
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Leavenworth WA real estate - Should you be investing?
2007-04-28 00:38:00
Are you curious about investing in the Leavenworth or Lake Wenatchee real estate market? Seems like everyone is interested in real estate investments these days. I see or hear about three types of “investors” most often in our local market. I use the quotes because most of these are “would be” investors who can’t find what they are looking for in the Leavenworth or Lake Wenatchee real estate market. (I read this article from Broker Agent News, (Top 7 Tips,) after I started my post. Notice the similarities including the use of quotes around “investor”.) The first is the fix it and flip it investor.Most don’t have the skills needed to fix the houses with real potential. There aren’t many homes in our market that just need a little paint and new flooring. Much of what is available needs some real love and perhaps even moving a wall or two. Another problem is the high price to get into the market. While $250,000 doesn’t seem high in Seattle or San Francisco, it seems...
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Stevens Pass Leavenworth Litter Clean Up
2007-04-24 20:57:00
It's Adopt a Highway time! As many folks know I sponsor a section of Highway 2 near Coles Corner through the Washington State Dept. of Transportation. This section is 2 miles long and starts near the Coles Corner rest area. This is about half way between Leavenworth and Stevens Pass near the exit for Lake Wenatchee and Fish Lake.This year our Spring clean up will be held May 19th. The Dept. of Transportation provides garbage bags, warning signs and those fancy orange safety vests and helmets. You just need to bring work gloves and sturdy shoes. It usually just takes an hour or two depending on the participation.This is the third year I have participated - with cleanups in the Fall and Spring. Usually we get a mixture of my friends and family, my real estate clients, and members of the community.
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Fish Lake Real Estate
2007-04-14 17:50:00
In an earlier post on Active Rain, I introduced you to Fish Lake just outside of Plain and Leavenworth, WA. This post is specifically about the real estate opportunities that can be found on Fish Lake.Fish Lake is a smaller and more intimate lake than Lake Wenatchee. It is also mostly bordered by U.S. Forest Service land. The amount of private waterfront is very limited and even homes near the lake are hard to come by.This is the last waterfront home sold on Fish Lake.I sold it in May of 2005 for $470,000. In general, real estate in the Leavenworth and Lake Wenatchee area has been appreciating at 15 to 20% a year. Considering it has been two years since a home on Fish Lake has been available, I think the appreciation here has probably been higher. I usually tell buyers looking for a home on Lake Wenatchee to plan on spending at least $1 million. I don't Fish Lake has quite reached that mark, but it isn't far off.These two houses sold in the past year.Neither of these homes were lo...
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Wenatchee- It's not easy being green
2007-03-22 16:05:00
Thanks to Andy Dappen of Wenatchee Outdoors.org for letting me post this great article. When I read the front page news about a "Green Wenatchee" I too was a little disturbed. Ten Reasons We're Not No. Five Andy Dappen If only it were true. Unfortunately, all I can say about the March 2007 issue of Country Home magazine that ranked Wenatchee as the fifth greenest city in America is, “What were they smoking?” An odd amalgamation of statistics compiled by those who don’t live here have found Wenatchee wonderfully green, but rather than congratulating ourselves and then turning our patted backs from some real environmental transgressions, we still have very basic ground to cover to deserve our ranking. Here are ten reasons we’re not No. 5: 1) We can’t even place colored glass in our curbside recycling bin. Microbrews and recycling go hand-in-hand. Did you know that the New Belgium Brewing Company (makers of Fat Tire Beer) generates all the energy used to make their beer...
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Why aren't homes in Cashmere Selling? (It's the price...)
2007-03-07 02:28:00
Allyson got this bit of fan mail today... “So what is up with the blog? I notice that the frequency of postings has decreased--I rely on it to keep up to date on the greater Leavenworth real estate market--I am starting to get the shakes--when will we get a new post?” This is for you Holly.... I have been a little surprised that there hasn't been much movement in the usually crazy Cashmere housing market. Currently, there are 10 homes on the market in Cashmere under $300,000. This is about a 3.5 month supply. Clearly a strong seller's market by most approximations. Yet, there is only 1 pending sale! I decided to dig deeper. In the last 6 months, 17 homes sold in this price range. The average home was 1660 square feet and sold for $190,000. The current crop of homes average just about 1600 square feet, but are on the market for $240,000. Now it's POSSSIBLE that the homes on the market today are much nicer, newer, etc homes, but.... not very LIKELY! In the last 6 m...
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A good cause
2007-02-07 21:55:00
I was looking for blogs on log homes and log cabins so I can provide some more details for home buyers to look at. I ended up at this site. The owner is in the process of building a log home and is going to blog about his/her trials and tribulations. The site owner is trying to get bloggers to donate money to a number of worthwhile charities. One he focused on is One House at a Time that is working on rebuilding in the aftermath of Hurricane Katrina. I am happy to provide a link an encourage folks to visit their website if they want to help.
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A note on Insurance by Eric Kossian of Leavenworth Insurance
2007-01-25 18:45:00
Your Good Credit Score Can Save You Up To 50% Off Home Insurance I know a lot of people don't like this (the one's with bad credit) and I agree that it is not fair for those otherwise credit upstanding citizens who, due to no fault of their own, had a divorce or family medical situation that ruined their credit. Nevertheless, the truth is, from an actuarial standpoint, people with excellent to good credit can get huge discounts on home, auto and excess liability insurance because they are statistically much less likely to have a claim (and that's what insurance companies are ultimately concerned about - not your driving record, etc) So, if you have excellent to good credit I suggest you shop your insurance because while almost all preferred companies now give discounts for good credit, the amount of the discount varies widely. I literally had a customer with very good (not excellent or just good) that sold his home to a friend and retained the mortgage. The friend had terrible c...
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Low Inventory in Leavenworth Homes Market
2007-01-25 01:42:00
Moderately priced home sales have really taken off in the Leavenworth Washington real estate market. Today there are only 16 homes under $300,000 and 26 under $400,000. Scarier yet, many of these are small (under 1000 square feet, some under 500) or have other issues that may make them difficult to get a loan for. (Lack of septic and electricity, half interest in property, leased land etc.) When we look at the list without these homes we see 9 under $300,000 and 19 under $400,000. If you are a home seller and thinking about waiting until spring to sell, maybe you should re-think your planning. If you are a buyer, you have a dilemma: Buy now despite the lack of choices or buy later and be prepared to pay a premium as prices continue to go up?
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