Wenatchee Real Estate Ramblings & Other Stuff

Willinger Real Estate

2008-09-07T09:46:00.001-07:00

Shelley Granger and I are very happy to announce the opening of our new Wenatchee real estate office.

Please visit the September 1st post on our primary Wenatchee real estate blog for details.

Have a great day!

Broker, Realtor, ABR, e-PRO, GRI

FREE Search of the entire Wenatchee MLS homes and land for sale
Current Wenatchee real estate news, info and trends

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

Wenatchee: Still #1 in the Nation

2008-03-15T05:52:00.000-07:00

Just checking in to let you know I'm still around and continue posting on some other blogs.

Wenatchee, Washington remains an active and healthy real estate market. I redirected you from this blog last year, and you can read my latest and ongoing ramblings at the following blogs.

Carol's Wenatchee real estate blog
Carol's Active Rain blog about Wenatchee
Carol's Wenatchee Condo Blog

And, there is always my primary website where you can get all kinds of info, including FREE searches for Wenatchee homes and land for sale.

As always, for the most current info contact the TOP Team:
Carol Williams TopTeamCarol@gmail.com
Shelley Granger TopTeamShelley@gmail.com

Wenatchee Real Estate Blog Info Redirected

2007-05-31T11:59:00.000-07:00

This was the very first blog I started in early 2005. Since then, I have created a more comprehensive real estate blog, within SquareSpace... so please look there for current news, info and trends in the Wenatchee real estate market.

And, a big thanks to the PittsburgHomesDaily blog for including this blog in list of 500 real estate blogs to watch!

You can visit all my other Wenatchee real estate oriented blogs and websites at:
http://TopPropertiesWenatchee.com (Free property search)
http://www.CarolsWenatche.com/wenatchee-realestate.com
http://WenatcheeCondos.blogspot.com
http://BirthOfAHouse.blogspot.com

See you there!
Carol

The Latest Wenatchee Foreclosure listings

2006-09-05T16:12:00.000-07:00

For info on the current inventory of Wenatchee area properties scheduled for auction and those already Bank Owned, click here.

For answers to your real estate questions, contact:
Carol@TopPropertiesWenatchee.com

Search homes and land for sale in North Central Washington
Current pictures, news, info and trends in North Central Washington real estate

Free Real Estate Investment Seminar

2006-08-29T08:09:00.000-07:00

Hereare the details of an upcoming real estate investment seminar to be held in Wenatchee. Anyone interested in starting, or expanding, a real estate investment portfolio should attend. This program focuses on simplifying the real estate investment process. They will help you identify an investment property, pre-qualify a tenant, AND offer to guarantee the monthly payments to the investor.

FREE Investment Seminar

Tuesday September 12th

7:00 pm

Best Western Chieftain Inn

1017 North wenatchee Avenue

Wenatchee, WA 98801

Learn how to…….

•Use better financing for today’s real estate market.

•Maximize the benefits of leveraging with smarter loans.

•Decrease taxes, and increase net profits.

•Use 1031 exchanges to increase your wealth while decreasing your investment risk.

•Use long-range planning to build your portfolio at a faster and more profitable rate.

This seminar is presented in cooperation with Liberty First Services Inc., Puget Sound 1031 services & Investment Dream Services LLC and is open to the public. There will be NO solicitations, registrations, or sales offers at this meeting.

Please join us for details on this new way to invest in real estate!

For answers to your real estate questions contact:
Carol Williams
Realtor, ABR, e-Pro, GRI

Carol@TopPropertiesWenatchee.com
Search the entire Wenatchee MLS for homes and land
Keep current with Wenatchee real estate new, info and trends

All About Wenatchee Valley Real Estate

2006-07-20T21:16:00.000-07:00

On my other blog, I post regularly and focus mostly on residential real estate... but, beyond that, I submit pictures and commentary on a variety of things that could be of general interest to people who are considering moving to the North Central Washington area.

My territory covers: Wenatchee, East Wenatchee, Malaga, Rock Island, Cashmere, Orondo, Entiat, Leavenworth, Lake Wenatchee, Waterville and (for special projects) Chelan.

For answers to specific real estate related questions, contact:
Carol@TopPropertiesWenatchee.com

Stay Current with Wenatcheee Valley real estate news, info and trends
Search the entire Wenatchee MLS (or do state or national searches)

Real Estate Investment Opportunity Extraordinaire

2006-07-10T12:52:00.000-07:00

You've gotta check this out!

I've just been introduced to a fabulous real estate investment opportunity that has everything I've ever seen beat by a mile! A sample I was recently shown turned a $3700 investment into $15,000 (plus the initial investment was returned) over an 18 month period. AND, the even better news is the investment is extremely secure.

For additional information, contact:
Carol Williams, real estate agent - Wenatchee, Washington
Carol@TopPropertiesWenatchee.com

Search current listings of homes and/or land in the Wenatchee MLS
Current Wenatchee real estate news, info and trends (through pictures and commentary)

Happy Independence Day !

2006-06-29T12:06:00.000-07:00

Here is a picture of some of the flags lining the streets in downtown Cashmere. Both sides of the main street are lined with American flags and patriotic banners... a beautiful sight!

Cashmere real estate inventory continues to be in very short supply. There are some interesting properties for sale, however.

For the latest information go to the TOP, contact Carol:
Carol@TopPropertiesWenatchee.com
Search the entire Wenatchee area MLS
Keep current with local news, info & trends

Visit Mr. Landlord's Website

2006-06-10T12:54:00.000-07:00

One of my favorite sites for a wealth of information targeted to landlords is "Mr. Landlord". There is a lot of free information and access to a vast variety of forms. You can also run credit checks on your tenant applicants for only $9.95. Of course, be sure to get the applicant to sign a form giving you permission to check their credit.

Anyway, I recommend you visit the site and spend some time clicking on the various links.

Carol@TopPropertiesWenatchee.com
Do a complete homes and land search (local, state, nationwide)
Keep up with the latest Wenatchee realestate news, info, and trends

Thanks To Our Veterans

2006-05-29T17:37:00.000-07:00

I love the American Flag.

Thanks to all our veterans for their service!

Carol@TopPropertiesWenatchee.com

Hillside Orchards in Central Washington

2006-05-27T10:27:00.000-07:00

Here is a nice scene of the local hills dotted with fruit orchards. Up this valley, toward Cashmere, the majority of the trees are pear tree... but some cherries and apples as well.

Carol@TopPropertiesWenatchee.com
Do-It-Yourself Property Search
Carol's Residential Blog
Carol's Investment Blog

Wenatchee Area Orchard Listings

2006-05-22T22:25:00.000-07:00

Here is a link to the current inventory of orchard listings. This inventory is subject to change without notice, so call me with any inquiries for the latest status.

The orchard pictured is not for sale, but made a nice picture with the hills in the background. Click on image to enlarge.

-Carol

Carol@TopPropertiesWenatchee.com
Do-It-Yourself Property Search
Carol's Resdential Web Journal

Wenatchee: Current Multi-family inventory

2006-05-22T22:05:00.000-07:00

Here is a link to the current inventory of multi-family units for sale in the Wenatchee area. This is as of 10:00 p.m. Monday May 22, 2006 and subject to change. This link will be available until June 22, 2006. If you want specific information about any of these properties, let me know.
http://www.flexmls.com/cgi-bin/view.cgi?20060523050049761519000000&s=2&id=1

Once you're into the spreadsheet, click on the Listing number to get a complete detail of the listing. You will be able to access photos, maps, and other documents.

Carol
Carol@TopPropertiesWenatchee.com
Search all Wenatchee area MLS listings
Visit Carol's residential real estate blog

Wenatchee Growth Forecast

2006-05-19T21:57:00.000-07:00

In the last few days I've posted a couple of articles on my other blog about the tremendous growth forecast to the Wenatchee Valley. This will compute to more jobs and price increases for local real estate. To read all entries and keep current with the entire blog, click here. And, don't forget to check out the "archives" for past articles which date back to last May.

If you're in the market to buy a home or other property in the Wenatchee Valley, now is definitely the time before prices go any higher. Plus, your purchase will be poised for an attractive gain in appreciation over the next year.

For specific questions or comments, please contact me:
Carol@TopPropertiesWenatchee.com
Search the entire Wenatchee area MLS

Creating Home Buyers

2006-05-15T14:29:00.000-07:00

There are lots of renters in every market who would love to buy a home if they could just save enough money for the down payment. If they're paying rent, they could probably make a house payment... and have a home with a yard for the kids to play in!

I have an idea that will literally generate the downpayment money for these families, and have a positive economic impact on the community.

My plan is to purchase an apartment building and fill it up with people who want to buy a home. These tenants will pay rent, but when they're ready to buy a home I will rebate back their rent and they can use it for a downpayment on a home.

We won't be able to rebate all their rent money, of course, because we will have expenses of running the complex... taxes, insurance, maintenance, etc. But, hopefully, we could give them about a 50% rent credit to build toward their downpayment.

For example, if they are paying $600 per month for rent, a 50% rent credit would add up to the tune of $3,600 per year. At the end of two years they would have $7200. This is a forced savings for them. This could possibly be enough to buy a home, if we structure the purchase for the seller of the property they are buying to pay some (or all) of their closing costs.

Unfortunately, I am not independently wealthy and cannot finance this project myself. However, if I had some like minded people who would like to "partner" with me it could work. We wouldn't really be looking to make a return on our investment per month because we'll be giving the tenants as much credit as possible. But, we will maintain ownership of the building which will increase in value. If I had a lot of people willing to invest just a little we could make this work.

This is the seed of my idea. I'll tell you more about it in subsequent posts. In the meantime, let me know if you have input for this project.

Carol@TopPropertiesWenatchee.com

Needed: Hotel Condos

2006-05-14T17:34:00.000-07:00

The hotel-condo marketing strategy that started in resort areas is now spreading into all major metropolitan areas. Many of the largest worldwide hotel chains now sell condo hotel residences.

There are variations of this same concept speading to nearly every market area. It provides the advantage of a guaranteed income to the hotel (via maintenance fees), while they generate additional income through a share of the rental income from the condos when they are not in use by their "owners".

The hotel-condo is an interesting, viable, and emerging sector of the housing market. I would like to see a project like this come to the Wenatchee area. Baby-Boomers are looking for a vacation lifestyle with spacious accommodations, dining and activities. I believe with all the tourism in our area, this could be a popular option.

Simply, here’s how the "condo-hotel" concept works. You purchase a hotel-condo and use the residence whenever you want. When you are away, put the residence in the hotel’s rental program and share the revenue with the hotel. The hotel’s management company takes care of all the management issues such as cleaning, renting and maintaining.

These residences offer the best of both worlds, a hassle free residence and the rent revenue that you receive helps offset the costs of owning a 2nd or 3rd home. There is also the potential for appreciation, of course.

I hope a project like this will come to the Wenatchee real estate market soon!

Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com
http://www.CarolsWenatchee.com/wenatchee-realestate

Wenatchee ReHab or Rental

2006-05-13T23:15:00.000-07:00

Today I previewed this property, which I now have listed as a result of a court ordered sale. It is actually two houses on one lot. The front house is a small two bedroom, 1 bath and currently rents for $500. The back house is a studio with 3/4 bath, renting for $375.

Strictly as a rental it is a good value, but is in desperate need of some repairs and updating. Most importantly it needs a new roof. The current tenants have been there a very long time and wish to stay.

The home is being sold "as is", with no warranties. It will require an all cash buyer as it will not finance in it's present condition.

The list price is: $57,409.

For additional details, please contact me at:
Carol@TopPropertiesWenatchee.com

To search other properties go to:
http://www.TopPropertiesWenatchee.com

The Million Dollar Dream

2006-04-23T19:13:00.000-07:00

There's something magical about the dream of becoming a "millionaire". A million dollars doesn't have the buying power it used to, but one could still live comfortably off the income generated by a million dollar equity real estate investment.

Real Estate has probably made more millionaires than any other industry and that is as evident in the Wenatchee area as anywhere in the nation. Have you started building your real estate investment portfolio yet?

Contact me today and we can discuss creating a customized investing plan for you.

Carol@TopPropertiesWenatchee.com

Carol's Property Search website
Carol's Wenatchee Real Estate BLOG

Home Equity Loan Costs Rising

2006-04-17T20:10:00.000-07:00

Home-equity credit lines have been drifting up for the past several months and with 10-year government notes topping 5 percent last week for the first time in four years, they are likely to go still higher.

Many consumers who are struggling with the rising costs of their loans should consider other strategies that may hold down what they pay for borrowing money.

Workers with a 401(k)s often have access to low-cost cash. Most plans let owners borrow at prime rate, which is currently 7.75 percent. Another possibility is borrowing against a brokerage account. The rate varies greatly depending on the brokerage. A third possibility is borrowing against a cash-value life insurance policy. Rates are usually in the single digits.

As rates on home equity loans, often called HELOCs rise, it is prudent to consider the options.

Achievement vs Success

2006-04-15T23:10:00.000-07:00

"My mother drew a distinction between achievement and success. She said that achievement is the knowledge that you have studied and worked hard and done the best that is in you. Success is being praised by others, and that's nice, too, but not as important or satisfying. Always aim for achievement and forget about success."
Helen Hayes
US actress (1900 - 1993)

Claim Your Free Land

2006-04-10T19:37:00.000-07:00

On my other blog, I posted about how you can claim FREE land in any or all 50 states. It's a unique offer. Check it out. I've claimed free land in Washington, Oregon, Alaska, Hawaii, and New York.

Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com
http://www.CarolsWenatchee.com/wenatchee-realestate

Wenatchee - 50% Population Growth

2006-04-07T11:56:00.000-07:00

Recent reports predict the population base of the city of Wenatchee, Washington will increase by up to 50% over the next 20 years. This is going to put a considerable burden on city officials to plan services for the future.

As our immediate area grows and real estate values continue to increase, more demand will be put on property in the outlying areas as well. If you're considering buying a home, land, or investment property in Wenatchee or the surrounding areas now is probably a good time to do so. You may also want to investigate possibilities within a 75 mile radius of Wenatchee. Values in the Cashmere, Leavenworth and Chelan areas have already escalated considerably. For the better bargains, head south and east toward Quincy, Soap Lake, Ephrata, and the rest of the Columbia Basin. Waterville, Washington is another area for picking up better values on purchasing real estate in the current market.

Please contact me with any real estate related questions, or go to my website or other blog to search for properties:
e-mail: Carol@TopPropertiesWenatchee.com
Primary website: http://TopPropertiesWenatchee.com
Residential blog: http://www.CarolsWenatchee.com/wenatchee-realestate

1st Anniversary

2006-04-06T20:40:00.000-07:00

I'm proud to announce today is the 1st year anniversary of the birth of this blog, Wenatchee Real Estate Ramblings & Other Stuff.

I've enjoyed writing it and hope it's become an informational and useful resource. This was my first blog ever and was initially started as a site to discuss Wenatchee real estate (and some miscellaneous ramblings) in general, including a few personal posts.

At this stage of the blogosphere, a year is actually quite a long life for a blog. As you peruse other blogs, notice the posting dates and you will find many of them have been essentially abandoned. To do a good job of "blogging", it takes a substantial committment of time. Most people do not realize this when they start. If they do stick with it, the posts are few and far between. I believe in order to be useful, posts must be current with content and consistent.

Over the last year, I have made 115 posts to this blog, 190 posts to my residential real estate blog, and 92 to my two personal blogs. Add these up, multiply by the estimated time to research and compose and you will wonder if I have time for anything else. The answer is yes. I actually had my best selling year in 2005, so it's a matter of time management.

During the year, this blog turned more toward the investment angle, and has become more general in nature. I made this adjustment because I started another blog last May that focuses more on residential real estate and newsworthy items that specifically affect the real estate market in Wenatchee, Washington. On that blog, I also discuss general real estate items from across the country.

If you have thoughts for improving this blog, or the other blog, please let me know. I'm always open for new ideas.

Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com
http://www.CarolsWenatchee.com/wenatchee-realestate

Duplex Lot in East Wenatchee

2006-04-04T19:41:00.000-07:00

I know of a vacant lot on Baker Street in East Wenatchee that is available for purchase. It would accommodate a duplex or could be used for a single family residence. $35,000 or seller would consider partnering with builder with profit split agreement.

Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatchee.com
http://CarolsWenatchee.com/wenatchee-realestate

Abraham Lincoln Quote

2006-04-04T06:28:00.000-07:00

I have always been fascinated by the life and personality of Abraham Lincoln. When I saw the following quote on another (somewhat eccentric) blog, thought it was worth posting. Wouldn't it be nice if the legal profession, and society in general, actually took this sage advice:

Abraham Lincoln: "Discourage litigation. Persuade your neighbors to compromise whenever you can. As a peacemaker the lawyer has superior opportunity of being a good man. There will still be business enough."

Carol@TopPropertiesWenatchee.com
http://TopPropertiesWenatcehe.com
http://www.CarolsWenatchee.com/wenatchee-realestate

Wenatchee Homes Sold Recently

2006-03-24T06:34:00.000-08:00

On my residential blog, I've posted an article with a list of homes that have recently closed. Addresses and prices are included.

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

Rare Columbia Riverfront Listing

2006-03-24T06:27:00.000-08:00

Here's a post similar to one from my residential blog, but thought it worth sharing here:

This week's Wenatchee area real estate agent home tour took us to a rare river frontage listing... a 3700+ square foot home, with over 3 acres and 1200 feet of Columbia River waterfront. It is a hand peeled log home with pool, spa, sauna, boathouse and an older mobile home for a guest house or rental. It is listed at a cool $2.5 Million. If you'd like some additional info on this home and property, please e-mail me a request for MLS #676405 : Carol@TopPropertiesWenatchee.com

It's definitely Spring because we are seeing more homes coming on the market, as is typical for this time of year. Other prices on today's tour (excluding the riverfront property) was $154,900 - $335,000.

Search the entire local, state or national MLS at:
http://TopPropertiesWenatchee.com

Goal Update

2006-03-06T19:45:00.000-08:00

After the first two months of the new year, it's a good time to re-evaluate your goal achievement progress. Are you on track for your goals for the year, or do you need to recommit and make a new strategy?

Is the whole goal setting process a puzzle to you? Whether your goals involve buying real estate in the Wenatchee area (or anywhere in the United States)... or improving your life in other areas, I have some tools that may help you.

Let me know if I can help you put together a customized plan.

Carol@TopPropertiesWenatchee.com
http://www.TopPropertiesWenatchee.com
www.CarolsWenatchee.com/wenatchee-realestate

Real Estate Foreclosures Up?

2006-02-22T20:06:00.000-08:00

Recent reports indicate the number of real estate foreclosures nationwide could increase by about 25% this year. This does not mean, of course, that 25% of loans will go into default. Less than 1% of loans nationwide have been going into foreclosure, so that is the number being used as the basis. So, this 1% could increase to about 1.25% of the total in the coming year.

Not to prey on misfortune, but it could be a year to watch for some good opportunities in foreclosures. In order to be most effective buying foreclosures, you will need to be able to buy without contingencies and offer a quick closing to the foreclosing entity (lender).

Due to our strong and diverse economy, I don't anticipate this much of an increase in the Wenatchee real estate market. But, we will watch the trend and see what happens. I'll try to post the foreclosure inventory occasionally.

If you have specific questions about Wenatchee area real estate, or current foreclosure inventory, please contact me:

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

More Real Estate Info

2006-01-18T07:54:00.000-08:00

For more real estate information go to:
www.carolswenatchee.com/wenatchee-realestate

e-mail: Carol@TopPropertiesWenatchee.com
Property searches: http://TopPropertiesWenatchee.com

East Wenatchee Apartment Complex

2006-01-06T09:34:00.000-08:00

There's an interesting 33 unit apartment complex (plus a house on site) available in East Wenatchee for $2,650,000! This computes to $77,941 per unit at full price. Let me know if you'd like details.

Carol@TopPropertiesWenatchee.com
www.TopPropertiesWenatchee.com

Foreclosure Investment Opportunities

2006-01-06T05:48:00.000-08:00

As we move into a new calendar year, many investors have idenified "foreclosure" properties as a potential investment income opportunity for the coming year. I've written before about some of the misunderstandings regarding the foreclosure market. If you click on the link, scroll down to the "Buying Foreclosure Homes" article. Despite, some of the misunderstandings surrounding the foreclosure home buying market, there are certainly going to be some profit potential opportunities out there.

This morning I was reading an article on the pros and cons of foreclosure real estate on the Inman News website. Click on the link and check out the article. It outlines the basic process. If you have any trouble accessing the article, let me know and I can forward it to you in an e-mail attachment.

If you are interested in what foreclosure properties are available in your area, contact me and I will print out a complete list for you. I can access information in all areas within the United States. You can request reports by zip code, city, county or state.

Carol Williams

Carol@TopPropertiesWenatchee.com
www.TopPropertiesWenatchee.com

New Year Goals

2006-01-01T05:08:00.000-08:00

Happy New Year! Have you set your goals for the year 2006 yet? If not, today is a great day to find a quiet corner and contemplate the things you'd like to accomplish in the coming year... and how you're going to achieve those things.

Goal setting is one of my favorite subjects because I believe in the philosophy:
"Whatever the mind can conceive and believe, it can achieve".

Until goals are written and specific, they are merely wishes. Here is a link to an article outlining 7 steps to goal setting. At the bottom of this article is a big link to another interesting goal setting site... with tips, articles, and a newsletter. If you were to follow the formula and do a complete goal setting session for all 6 areas of your life, it is a comprehensive, time consuming and envigorating process. It is time well spent and well worth the effort.

For now, start with one... and move forward from there. If you were to stay within the spirit of this blog, a financial goal pertaining to starting or expanding a real estate portfolio would be appropriate.

Do you have dreams you'd like to turn into reality? I am a trained goal setting instructor, so if you would like some guidance let me know.

Yours for success, prosperity and happiness in '06
Carol

http://www.blogger.com/
http://www.toppropertieswenatchee.com/

Merry Christmas!

2005-12-21T21:41:00.000-08:00

I'll be back after the first of the new year with more
real estate investment information. In the meantime...
H a p p y H o l i d a y s !

Unfair Tax Burden?

2005-12-08T09:51:00.000-08:00

I posted this on my residential blog, but it's important for all who invest in real estate... so here is a link to the Washington Association of Realtors Government Affairs news page. There are some important issues, one most specifically about the proposed (significant) increase in excise tax imposed on the sale of homes (and investments properties) from every single real estate transaction. I encourage you to read the article and write your legislator with your comments. Here's a link to find your legislator.

Changing Your Destiny

2005-11-30T22:41:00.000-08:00

"Nobody can go back and start a new beginning, but anyone can start today and make a new ending." - Maria Robinson

I love this quote. It's appropriate whether you're interested in improving the outcome of your financial goals, or improving relationships with your family.

4-Plex in Cashmere

2005-11-21T21:24:00.000-08:00

I've listed a nice 4-plex building in Cashmere. Each spacious unit has 2 bedrooms and 1 bath, located very convenient to downtown Cashmere.

Total monthly income averages about $2,530(including laundry income). We have given notice for the rents to be raised, bringing the monthly income to $2,630 per month. They are always very easy to rent when a vacancy occurs.

List price is: $399,000

Contact Carol for details:
Carol@TopPropertiesWenatchee.com

Investor Errors

2005-11-17T14:14:00.000-08:00

Here's a link to an interesting article about mistakes that newbie investors tend to make. If you're interested in getting into the real estate investment business, I recommend you start by working with an agent familiar with investment properties. Once you become more experienced, you can consider going it alone... but even most of the experienced investors utilize the services of an agent they know and trust.

Have You Hugged a Veteran Today?

2005-11-11T21:38:00.000-08:00

I humbly take this opportunity to salute all veterans... and to all the current active military soldiers.

A special tribute to my Dad, Bruce Klock (1913-1964), who served in World War II.

God Bless America

Latest Wenatchee Area Foreclosure List

2005-11-10T19:09:00.000-08:00

I have posted the latest Wenatchee area real estate foreclosure list on my residential blog. I can also generate a foreclosure list for any area in the country. Please contact me for the latest status on any foreclosure property.

Have a great week-end,
Carol Williams

Carol@TopPropertiesWenatchee.com
Primary residential blog
Search listings in Wenatchee, Statewide, or Nationwide

Reasons to (or not to) Buy Real Estate?

2005-11-09T15:28:00.000-08:00

Here is a link to an article that puts in perspective the most traditional reasons FOR buying real estate. Real estate IS a great investment, but do you research and be careful not to buy for the wrong reasons.
Carol

Search local Wenatchee, State, or Nationwide real estate listings here
Residential Blog

Gone To England

2005-10-29T11:12:00.000-07:00

I'm now in England. If you wish to follow the adventure, please go to my personal blog. I'll also be posting some to my other real estate blog.

I'll be back to posting about Wenatchee real estate and investment ideas the week of November 7th.

Cheers from the olde country,
Carol

Thought For The Day

2005-10-13T09:50:00.000-07:00

"Too often we enjoy the comfort of opinion, without the discomfort of thought." -J.F.K.

Activity vs Progress

2005-10-08T19:48:00.000-07:00

Quote of the Day:
Do not mistake activity for progress.
You can keep busy in a rocking chair,
But you don't get anywhere.
- Earl Nightingale

Are Your Kids Money Savvy?

2005-10-07T23:25:00.000-07:00

While reviewing current interest rates at Bankrate.com, I came across this article on teaching kids to be money savvy. It's definitely worth a read.

Here is an excerpt:
"Children between the ages of 5 and 14 have direct purchasing power of more than $40 billion a year and influence $146 billion worth of purchases. Yet, few children are taught, either in school or at home, about managing money.

With schools forced to make tough choices on which "noncore" subjects to include in curriculums, parents are often left to teach financial skills on their own. For parents, many of whom don't feel confident in their own money-management prowess, teaching their kids how to manage money can be an intimidating task.

But don't put off addressing the issue." To read the complete article, click here.

Financial responsibility is one of the most valuable lessons parents can teach their children. It's never too early (or too late) to start.

Yours for success & properity,
Carol

e-mail: mailto:CaCarol@TopPropertiesWenatchee.com
Primary website: www.TopPropertiesWenatchee.com
Residential blog: www.CarolsWenatchee.com

Empty Pockets?

2005-10-06T21:16:00.000-07:00

Empty pockets never held anyone back.
Only empty heads and empty hearts can do that.
- Norman Peale

Norman Vincent Peale must have been talking to some real estate investors when he coined this quote. As the old saying goes: "Where there is a will, there is a way".

Have a great week-end,
Carol

Education vs Catastrophe

2005-10-05T08:44:00.000-07:00

"Human history becomes more and more a
race between education and catastrophe."
- H. G. Wells (1866-1946)

The above quote struck me in view of current events
in the world. It's my belief that it's important to
look at the catastrophes as an opportunity to correct
some major problems and make the intelligent decision
to make things better, not try to recreate the lost for
the sake of nostalgia or fear of the unknown.

Have a great day!
Carol

Tax Consequences of Flipping Houses

2005-09-29T21:58:00.000-07:00

There's a good article at Bankrate.com about the investment practice of flipping houses. With skyrocketing values of home across the nation, this has become an even more popular investment strategy.

A current client of mine recently bought a property and is wanting to flip it. I recommended she use it as a rental for a period of time, then sell it when it qualifies for a 1031 exchange. Under this strategy she could defer taxes. Surprisingly, her accountant told her not to worry about the tax implications because, if she was going to make a lot of profit, why would she care about paying part of it to taxes. I totally disagree with that thinking when there is a strategy to make the profit AND avoid the taxes.

Just so an investor considers all the possibilities and makes an informed decision, it's fine with me.

Yours for success & prosperity,
Carol

Thought For The Day

2005-09-27T14:07:00.000-07:00

I have been through some terrible times in my life,
some of which actually happened." - Mark Twain

I love that quote from Mark Twain. We do tend to
exaggerate the crisis of the moments, don't we?
If you follow the "real" tragedies in the world, it's a
little easier to keep life in perspective.

Have a great week!
Carol

Quote of the Day

2005-09-26T21:29:00.000-07:00

Work as though you would live forever,
and live as though you would die today.
-Og Mandino {1923-1996 American Motivational Author & Speaker}

It's difficult to find that perfect balance between planning for later in life and living for today, but it's absolutely essential for a well balanced life.

Og Mandino is absolutely one of my favorite inspirational speakers. If you have never read any of his books or listened to his tapes, I highly recommend them. My favorites are "The Greatest Salesman In The World" and "Mission Accomplished". I prefer the tape versions because you get the pleasure of listening to Og himself. I love his voice. It is peaceful, motivational and inspirational.

Yours for success,
Carol

Thought For The Day

2005-09-25T20:43:00.000-07:00

Owning a home is a keystone of wealth...
both financial affluence and emotional security.
-Suze Orman

How To Fix The Mortgage Industry

2005-09-19T06:45:00.000-07:00

The Wenatchee real estate market, although small, suffers some of the same issues as any real estate market. The crazy housing market everywhere has made the business of shopping for and securing the right mortgage a little crazy as well. It's downright confusing.

Although it's entitled "How To Fix The Mortgage Industry", I was reading an article in my Inman News feed recently which really explains, in simplified terms, a little about how the mortgage industry actually works. The author does offer some suggestions for improving the system, which really isn't a sytem at all... but is a mass of independent contractors (mortgage brokers) vying for all the business they can get. Even though the loans themselves are provided through Federal guidelines, the loan fees are unregulated... and, therefore, leaves a lot of room for unscrupulous fees on the part of the mortgage brokers. There are, of course, Truth In Lending disclosures and you should pay close attention to them because it tells you how much the total loan is actually costing you (including all the fees).

I almost always read the "final settlement statement" for my clients before closing to analyze all the fees being charged by the mortgage broker and the lender. These fees are often excessive and can be negotiated. Of course the better time to negotiate is upfront before choosing a loan but, sometimes, they throw in these "junk fees" later and when you get to the closing table you don't feel in a position to be negotiating fees because you risk the deal falling through. I suggest you ask your escrow office to provide a final settlement statement at least 1 day before you are schedule to sign closing documents. You can compare this to your original "Good Faith Estimate" to be sure they're not charging you what we call "junk fees", which are just extra to create more profit for themselves.

My final comment is to shop for a loan just like you would shop for any large ticket item, and be sure you know all the fees involved. The "Good Faith Estimate" is your best upfront tool in comparing loans.

Have a great week,
Carol

International Property Search

2005-09-15T18:33:00.000-07:00

is a website I recently discovered where you can search for properties in 24 countries around the world. This site assists consumers with locating properties, real estate professionals, and real estate business practice information in the international market, through the International Consortium of Real Estate Association. (ICREA). The National Assn. of REALTORS® is a founding member and co-chair of the group.

Have fun checking it out.
Carol

www.TopPropertiesWenatchee.com
www.CarolsWenatchee.com

Google's New Blog Search Feature

2005-09-15T09:14:00.000-07:00

Have you heard about Google's newly launched blog search feature? It is totally awesome because if you forget the address of any blog (or want to find new blogs) you can just go to the Google blog search and type in the name of the blogger or the city or subject... whatever is most appropriate. In my case I typed in "Wenatchee Real Estate" and my blog entries were all over the place. Then I typed in just the word "Wenatchee" and there they were again. I must be the only one in the world "blogging" on the Wenatchee real estate market. This feature in Google is just for weblog searches, and not web sites in general. You can type in your favorite hobby or the city where you live or whatever and get a bunch of blog entries to choose from. This is truly awesome! Google rules the blogosphere!

Have a great day!
Carol

Carol@TopPropertiesWenatchee.com
Residential Blog: www.CarolsWenatchee.com
Primary real estate website: www.TopPropertiesWenatchee.com

Investment Real Estate Prices

2005-09-09T13:47:00.000-07:00

Dear Readers,
As the effects of Hurricane Katrina rage throughout the economy, I have been contemplating how this is going to affect our Wenatchee area real estate market. Our national economy is so intertwined, we can't kid ourselves into thinking it's not going to affect us here in the Wenatchee Valley.

For example, there is an ever increasing demand on the reduced supply of building materials and other supplies. As petroleum prices increase, building supplies cost more to produce.... and it costs more to get them delivered to their ultimate destination. There is going to be a huge demand through the hurricane ravaged area and we are going to pay more for supplies and labor. The reality of prices based on supply and demand will never be more obvious.

There has been a surge in multi-family investment construction in our local market area. The above factors are going to significantly affect the future construction costs of such projects. Will they continue to develop or will this slow the trend? Will existing investment properties become a more attractive investment or will they go up in value to reflect the potential reduction in competition?

So many questions. So few answers. Stay tuned.

Have a great week-end!
Carol

HUD Removes Foreclosure Properties

2005-09-05T20:38:00.000-07:00

Two thumbs up for HUD.

I just read on the Real Estate Blog Squad blog that the Department of Housing and Urban Development (HUD) has removed their foreclosure homes from the market in the following states:
Georgia, Oklahoma, Tennessee, Kentucy, Texas

This is being done in response for the critical need for housing to care for those displaced as a result of Hurricane Katrina.

And, remember, real estate agent have lost their homes and jobs too. If you have any opportunities for them, please let me know!

Thanks!
Carol

East Wenatchee Development Property

2005-09-04T22:25:00.000-07:00

Here is a newly listed local investment opportunity:
Home on large lot, with potential to divide lot off and build duplex or other multi-family. The home has been used as a duplex, with complete living area on the lower level. 936 sq.ft. on each level.

The home has been vacant for nearly two years and was recently purchased from an estate. The home is in good condition, and the interior recently painted but the yard needs some TLC. The current owners have already done a lot of work with chain saws and weed whackers to clean it up. Home alone is listed at $139,900.

Additional lot, when separated, will be $39,900... but a discount would be given if bought all together.

For details and to arrange a preview of the property, e-mail or call me at:
Carol@TopPropertiesWenatchee.com
509-670-7840

To search for other investment properties, visit my primary real estate website at:
www.TopPropertiesWenatchee.com

Or... write me with your specific criteria and I will send you a customized list of investment properties:
Carol@TopPropertiesWenatchee.com

Have a great day!
Carol

Blog Squad Site Up And running

2005-08-31T22:05:00.000-07:00

The Real Estate Blog Squad official website is up and the blogging has begun.

Please visit, and we welcome all comments.

I am also still posting current Wenatchee area real estate info, news and trends on my other blog, !

See you there,
Carol

Realtors Join Relief Effort

2005-08-31T22:00:00.000-07:00

The National Assn. of REALTORS® took the lead in relief efforts this week and real estate professionals around the country have been responding in kind. NAR announced today it will contribute an additional $1 million to funds established by REALTOR® associations in Louisiana, Alabama and Mississippi to provide emergency relief to victims of Hurricane Katrina. Earlier this week NAR made an initial donation of $50,000 to each of three state REALTOR® associations to help them establish funds to provide emergency assistance.As the extent of the suffering and devastation caused by Katrina becomes clear, NAR is stepping up its efforts to raise funds from Realtors for emergency relief in the Gulf Coast.

To read the complete text of this article, click here. NAR has set up a relief fund, from which they are absorbing all administrative fees. In other words, if you donate to the National Association of Realtor's relief fund, ALL (100%) of your donation will go to help those in need. There will not be any administrative fees deducted! As you may know, many charitable organization do take a large percentage of their donations to administer the organization. Please consider making a donation, no matter how small.

.

Oh... The Irony

2005-08-28T07:45:00.000-07:00

Dear Readers,
Did you see the interview on CNN the other day with the woman who said gas prices were really hurting her family? She had to shop alone, so the kids didn't beg for things at the store. She was having to cut back in several ways because of the high cost of gas. As the story ends, she drives off in her 2005 GMC Danali. If it weren't so sad, I'd have to laugh. Does anyone see the irony in this?

I'm constantly amazed at the number of new, gas guzzling, SUVs on the road now. These are expensive vehicles, then the owners have the audicity to complain about oil prices. Are these the same people who sit in line (with their vehicle idling) waiting to be served their $3.50 Double Tall Vanilla Latte (or whatever flavor they like). Whatever happened to the $1 cup of coffee or (heaven forbid) brewing your own!?!

Sadly, I suspect many of these new SUVs are being purchased with home equity loans. To me, this is a travesty. Home equity loans should be used to pay off high interest bills or investing in some equity growth tool, such as buying real estate or some other income producing investment. If you have to take out a home equity loan to buy a car, my opinion is you should be buying something a little more conservative than an SUV. Remember the old saying, "if you have to look at the price, you can't afford it"? Well, if you can't afford the gas (and don't forget insurance), you shouldn't be buying the vehicle.

If we're really concerned about oil prices, we need to reduce consumption, conserve, make some adjustments. If everyone did just a little, it would make a big difference and not be painful at all. We could carpool, take mass transit, telecommute. We could make one less trip a week to town. We could park at the bank and actually go inside instead of idling in the drive-through. The exercise certainly wouldn't hurt us! The possibilities are endless.

My husband & I took a trip to southern Alberta last week, as we do every summer, to visit his sisters and other relatives. Usually, we drive our 1989 custom van, which gets 15-18 miles per gallon... depending on driving conditions. The van is, admittedly, an older model but we keep it in good mechanical condition, looking nice, and it is so comfortable to drive. Plus, we can crawl in the back and take a nap if we get tired. But, this year we decided we were going to do something to contribute to reducing our oil consumption. We drove our 1999 Mitsubishi Galant instead. It's small, but comfortable, and the seats recline for some occassional shut-eye. It gets 30 - 33 mpg on the road. For the 1188 miles we drove, I figure we saved about 80 gallons of fuel. I love the idea of the cost savings, which was over $200... but I also like the idea of doing my part to conserve. If everyone figured out a way of reducing their consumption by 80 gallons by the end of the year, it would be huge.

Just my $200 worth!

Gone Traveling

2005-08-23T14:09:00.000-07:00

Dear Readers,
I will be on vacation until Saturday, August 27th. Check my other blog for posts from the road later today or tomorrow.

Have a great week!
Carol

Trump University

2005-08-20T10:14:00.000-07:00

Dear Readers,
Anyone who is interested in real estate has to be fascinated (or at least intriqued) with Donald Trump (aka: The Donald) and what he has done, and is doing, in business.

I just discovered a weblog connected with the " Trump University", with posts from "The Donald" himself, as well as other approved "experts". Since I just discovered this blog's existence, I haven't had a chance to study it in depth, but I did find many of the posts interesting and thought provoking. Also there are many links to a multitude of "successories".

Please check it out and let me know what you think.

Have a great week-end,
Carol

Apartment Rented

2005-08-18T21:30:00.000-07:00

I put a small classified ad in the paper Monday and received several calls. The first person who looked at the apartment committed to a one year lease. I love it when a plan comes together.

Have a great week-end,
Carol

Cashmere, WA - Apartment For Rent

2005-08-15T11:29:00.000-07:00

Available September 1st:
* $595 / month
* Spacious 2 bedroom, 1 bath
* Central heating & air conditioning
* 2 Parking spots
* Convenient location near downtown

Call Carol for more info or a preview:
509-670-7840

East Wenatchee - Multi-Family

2005-08-13T14:46:00.000-07:00

Dear Readers,
Here is some info on a new-on-the-market listing for a multi-family property. It is actually two 4-plex buildings on two tax parcels, selling together:

$449,900
$3800 per month stated income
$125 - laundry income

Taxes: $3468

Please let me know if you're interested in a preview or additional information on this property.

Carol

Help Needed For Buyers

2005-08-10T07:27:00.000-07:00

Dear Readers,
I am working with several buyers looking for multi-family income properties. So far we have not found just what they are looking for through the Multiple Listing Service. If you, or someone you know, is interested in selling please call or e-mail me:

* 20+ rental units (prefer brick structure): $ Negotiable depending on income
* Always need: Duplexes, 4-plexes and other multi-family income properties

* Always need: Fixer upper single family residences $ Any price range

On my other blog, I have posted an extensive list of needs for primary residence and land buyers. Any help will be appreciated.

Thanks,

Carol
Carol@TopPropertiesWenatchee.com
509-670-7840

Shared Appreciation Home Loans

2005-08-06T17:02:00.000-07:00

Dear Readers,
As the real estate markets across the country continue to be hot, lenders are getting creative to compete for the business these days. One thing to remember is that, for the most part, any loan is available in any locale. All the lenders (big and small) work under the same federal guidelines. In other words, if you see an ad on TV for a great loan program, contact your favorite local lender and ask if is available. It has been my experience that the TV ads are not all they're cracked up to be and end up being a big nuisance because you're not dealing with a local lender who knows the local market. So, whether you're buying Wenatchee real estate or real estate in New York City... don't be fooled by a "come on" ad. Do your due diligence and work with a local lender whenever possible.

One of the more recent developments is the 40 year mortgage as compared to the standard 30 year mortgage. This, of course, helps reduce the monthly payment... but stretches out your payments another 10 years. In analyzing some ammortization tables, the monthly reduction doesn't seem to justify the extended payment period but, as always, it's something to be considered depending on the individual circumstances.

A new concept that I had never heard of before is the "Shared Appreciation Home Loan". This is where the borrower gets a reduction in the interest rate in return for agreeing to share a percentage of future appreciation with the lender. I don't know if this type of loan is only available for single family residences or if an investment property would qualify. Neither do I know if the lender shares in the selling costs before calculating "equity".

I will see if I can learn more and report back. Whenever you are shopping for a loan, consider all options then choose the best one for your individual circumstances. One of the keys to doing this is finding a good mortgage officer who will be honest with you and not try to sell you on a loan option that will result in the highest commission to them.

Hope you're enjoying the week-end,
Carol

Multi-Family / Income Properties Available

2005-08-05T19:40:00.000-07:00

There are only 9 Multi-family/income properties available
in the immdiate Wenatchee real estate market area, ranging
in price from: $125,000 - $1,050,000

Here is a summary of the properties:
$125,000 - 2 units (one 3-bedroom, one 2 bedroom) $1,000 per mo. stated income
$139,900 - 2 units (both 2-bedrooms) $1,100 per mo. stated income
$149,500 - 2 units (both 2 bedrooms) $ No stated income
$167,900 - 4 units (three 2 bedroom, one 2-bedroom) $1,600 per mo. stated income
$289,000 - 3 units (one three bedroom, one 2-bedroom, one 1-bedroom) $1,570 stated inc.
$399,900 - 3 units + 2 acres of pears and shop $ No stated income
$459,000 - 7 units (4 separate parcels with multiple possibilities) $3,100 stated income
$725,000 - 20 units (14 studios & six 1-bedrooms) $6,678.66 stated income per month
$1,050,000 - 32 units (all 1-bedroom, 1 bath) $12,640 per month stated income

Please call me for complete details and recommendations. You may also search for these and other properties on my main real estate website. Also, visit my other blog for current news, info and trends regarding the Wenatchee and East Wenatchee real estate market area.

Have a great week-end,
Carol

All information is deemed reliable but cannot be guaranteed.

Cashmere: 2.63 Acres - $700,000

2005-08-03T07:36:00.000-07:00

Dear Readers,
The most interesting investment piece that's come up in the last few days is a 2.63 acre parcel for $700,000. Seems a little steep at $266,159.69 per acre... but what do I know. I have ceased to be amazed at what's going on in the real estate market.

This particular property is located next to the property currently being developed into the huge new Apple Annie's Antique Mall in Cashmere, along the main highway. I believe this property is owned by the same people developing the mall. With the mall running significantly over budget (and behind schedule), perhaps they are trying to cover some of the costs with the sale of this property. Just speculation on my part.

There have been several articles in the Wenatchee World over the last few months. If you go to the paper's website, go to the "archives" and do a search for "Apple Annie's Antique Mall" or just "antique mall".

This mall, when completed, is really going to be a very fun and interesting place. There will even be bus tours from the West side of the state bringing people in for the day.

Remember to check in with this blog and at my other blog for updates on the mall's progress and Grand Opening.

Have a great day!
Carol

Fruitful Bus Stop

2005-08-01T21:43:00.000-07:00

Dear Readers,
Here is a link to a post about the most interesting bus stop I've ever seen! Scroll down to the "watermelon". Perhaps we could increase ridership on our Link transit system in Wenatchee with a variation of this idea in apple country.

Cheers!
Carol

Flood Insurance

2005-08-01T19:56:00.000-07:00

Dear Readers,
I've been working with a young couple who is relocating to Wenatchee from Sparks, Nevada. After spending several weeks looking at Wenatchee real estate, including existing houses and a slew of options in new construction, they've more or less settled on having a home built in a new subdivision in Wenatchee. The one drawback to this particular subdivision is that it's in a designated flood zone. It's not that we're particularly concerned about flooding BUT you never know and it IS in a flood zone, so we have to deal with the consequences.

The Federal Emergency Management Agency ( FEMA ) controls the regulations overseeing this issue. The consequence of being in a blood zone means the builder has to work with certain Federal regulations AND the buyers have to secure flood insurance. Flood insurance rates will depend, among other things, on the insurance company and the type of construction of the home (whether it has a basement or not and how deep the crawl space is if there is no basement). It's actually better not to have a basement in a flood zone because, if there ever is a flood, the crawl space would get flooded not the basement where it would cause actual damage to the interior of the home and the contents.

If you ever consider purchasing a home or investment property in a designated flood zone, do your insurance rate research before finalizing a Purchase and Sale Agreement.

Not all flood zones are created equal... so do your due diligence and make an informed decision.

Have a great week!
Carol

509-670-7840
Carol@TopPropertiesWenatchee.com
Be sure to check out my residential blog too!

My Favorite Mortgage Info Site

2005-07-27T21:52:00.000-07:00

Dear Readers,
I really like Bankrate.com as an overall resource for mortgage information. But, beyond mortgage information, they have a lot of information on money matters in general. I saw this article titled "Top 10 Mistakes of Novice Home Investors". If you have any interest in becoming a real estate investor, this article is worthy of a few minutes of your time.

If you have questions about investment opportunities in the Wenatchee real estate market area, please call or e-mail me. I can also give you information on my experience with who, in our local market, is a good contact for actually comparing loan programs that meet your specific needs.

Yours for success,
Carol

News On The Street

2005-07-27T14:20:00.000-07:00

Dear Readers,
On my other blog, I posted an article about setting up a "Neighborhood News" category for the various areas of Wenatchee and all surrounding areas. Please visit, "Neighborhood News" and send comments and feedback about how I can make this most useful, informative, and fun... definitely fun!

Have a great day!
Carol

Tax Strategies For Investors

2005-07-24T21:27:00.000-07:00

Here's a post I read recently on Karen Mason's blog out of Titusville, Florida. Thought it was worth passing along:

"Thousands of savvy realty investors have sold their rental properties, such as apartments, commercial property, or a business property, and made IRC 1031 tax-deferred exchanges for single-family residences of equal or greater cost and equity. To qualify for the IRC 1031 exchange, the acquired property must be..." full text

Have a great week,
Carol

Castles For Sale

2005-07-21T19:02:00.000-07:00

Dear Readers,
My husband and I will be travelling to England in October, so thought I'd better do some preliminary research on what's for sale in the way of castles.

Click on the above link and take a look. If any of them look interesting, let me know and I'll arrange a showing for you (after proof of financial pre-approval, of course). :-)

The closest thing to something I could afford is a 3 bedroom apartment in the back of a castle in Ringwood, Hampshire.

Sigh...
Carol

Local Electric Power Rates

2005-07-19T11:34:00.000-07:00

Dear Readers,
On my "other blog", I have posted some information about our local power rates, projected fuel costs for summer... and some other miscellaneous stuff. Hope you have time to check it out and find it useful.

Have a great day!
Carol

Latest Foreclosure List

2005-07-17T12:34:00.000-07:00

I have posted the latest foreclosure list for Wenatchee, East Wenatchee, Cashmere, Rock Island and Leavenworth. You may access this post by clicking here.

Hope you have a great day!
Carol

Follow the Link

2005-07-13T21:28:00.000-07:00

Dear Readers,
Hope you have time to read through the "archives",
then click here for current posts. I will keep you
posted on all the latest listings, news, info and trends
relating to Wenatchee real estate... and the surrounding
areas.

See you there,
Carol

Tugboat House For Sale

2005-07-11T22:18:00.000-07:00

Dear Readers,
Ever wanted to live on a tugboat? I came across this interesting listing on Craigslist. Part of the ad reads: "1939 wooden tugboat was originally built in Ballard, worked the waters of the Columbia River and the Alaskan Coast for years..."

It has seven 500 gallon diesel tanks. Can you imagine how much that would cost for a fill up???

Have fun,
Carol

God Bless America!

2005-07-09T21:59:00.000-07:00

Thought I'd try out the new and improved picture uploading feature of blogger by uploading an American Flag... afterall it is still America's birthday week!

Hey... it worked!

Have a great week-end,
Carol

Tri-Plex Value

2005-07-09T21:53:00.000-07:00

Dear Readers,
I was out showing real estate most of the day... to three different sets of buyers. I started with showing two 20 acre parcels up the Chumstick (10 miles out of Leavenworth), then to show one of my listings in East Wenatchee, then a tri-plex in Wenatchee.

The tri-plex is what I want to post about this evening. The buyer specifically inquired about this property, but looking at the income vs price it didn't seem to "compute" to me. I mentioned to the listing agent that the price seemed high for the income generated and she just said they haven't raised the rents for a long time and the income "should be" higher.

This creates a problem when the owner wants to sell. For appraisal purposes, the "rental history" is based on the "actual" income, and most likely the property will not appraise for the value the owner wants (in the unlikely event they did find a buyer to pay that price).

In addition to the income discrepancy, there was a lot of "deferred maintenance", which would have added significantly to the cost basis of the property.

This one didn't make sense for my out-of-state buyer, so we're looking at more viable options, of which there are many.

The moral of this story is: If you have income property you plan to sell in the realtively near future, get the rents up to market value before you put the building on the market.

Have a great week-end,
Carol

Latte Funded College Education?

2005-07-06T14:18:00.000-07:00

Dear Readers,
I like coffee as well as the next person, but I'm always amazed at the constant lines I see at every corner expresso stand in town. This isn't just in Wenatchee, but everywhere I go. These stands aren't there for you to order a 50 cent or $1 cup of Folgers to go... but rather a coffee with some hoity toity fancy schmancy name (that costs $2.75 and up each)! Who would have thought???

Anyway, I got to wondering, if a person buys one of these lattes every single day of the year, how much are they spending? Even more interesting, what kind of a savings could be built over the years if they forgo the spendy coffee and, instead, opt for the "old fashioned" coffee of yesteryear?

I found a simple savings calculator, and punched in the numbers (using $2.75 per day). I discovered, at the end of 18 years, you would have saved $29,011.70 (at 5% interest, compounded monthly). Now, if you invested this money in some high quality mutual funds or, I'm obligated to mention, real estate who knows what could happen.

I used 18 years, because I wondered what could happen if a person started saving the day a new child was born. Would there be enough in the fund for college? Well, maybe not much of a college fund for the future, but perhaps if it was invested in the mutual funds (or even better, real estate)... then there would be some serious money to work with.

Here's how the savings accumulation looked:
Year / Balance
1 $ 1,099.73
2 $ 2,169.00
3 $ 3,292.97
4 $ 4,474.45
5 $ 5,716.38
6 $ 7,021.85
7 $ 8,394.10
8 $ 9,836.57
9 $ 11,352.83
10 $ 12,946.67
11 $ 14,622.05
12 $ 16,383.15
13 $ 18,234.34
14 $ 20,180.25
15 $ 22,225.72
16 $ 24,375.83
17 $ 26,635.95
18 $ 29,011.70

By-the way, did you know the founder of Starbucks, Howard Shultz, owns the Seattle Super Sonics basketball team? What does that tell you about the profitability of the espresso business? I once worked with a couple who wanted to buy a house in Wenatchee. They operated a little espresso stand in the Eagle Hardware store (which is now Lowes). I couldn't believe what they said their income was from that little stand.

And... one other side note: I do buy a latte once in a while... but generally only on "double punch" day, so I get my FREE one twice as fast. :-) Hastings (book and music store) has double punch days on Tuesday and Thursday and a small local independent burger joint has double punch day on Wednesday, so I'm pretty well covered. I can get a free one on Monday, Friday or the week-end.

O.K... let's get real. Suppose you can't go without the latte EVERY day. How about joining two other family members, and getting a latte every three days? The possibilities are endless...

Just a few rambling thoughts of mine.

Have a great day!
Carol

Scott & Laci Peterson's Home Is Sold

2005-07-05T20:24:00.000-07:00

Dear Readers,
According to my Inman News feed, the 3 bedroom home owned by Scott (and the late Laci) Peterson has been purchased by a Modesto, California realtor for $390,000. The Peterson's paid $177,000 for the home in 2000.

For the complete article, click here.

Have a nice evening,
Carol

P.S.: For more information, visit my other blog, specializing in Wenatchee, Washington residential real estate... and real estate in general.

Tax Breaks For Those Not On Title?

2005-07-05T09:36:00.000-07:00

Dear Readers,
The tax benefits are a big part of the real estate investing mystique. Even if an investment is not generating "cash flow", the tax benefits create profit. This is true whether you're investing in Wenatchee real estate or anywhere in the U.S.

Surprising to some people is that you may be entitled to tax breaks on a property even if you are not on title to the property. For more details on this issue, read this article.

Have a great day!
Carol

Happy Birthday, USA

2005-07-04T05:19:00.000-07:00

Happy 4th of July!

Wanted - 1951 or 1955 Chevrolet Pick-up Truck

2005-07-03T15:45:00.000-07:00

Dear Readers,
I have a friend whose husband is turning 55 next year. She would love to find a 1951 (the year he was born) or 1955 Chevy pick-up for his birthday. Any leads for me?

Thanks!
Carol

Realtor, ABR, e-PRO, GRI, RECS, REI
Serving all of Washington State
Specializing in Wenatchee & Surrounding Areas
Phone: 509-670-7840 * Fax: 419-818-4009
website: http://TopPropertiesWenatchee.com
residential blog: http://CarolsWenatchee.com
investment blog: http://RealEstateSuccess.blogspot.com
e-mail: Carol@TopPropertiesWenatchee.com

Want To Be A Real Estate Tycoon?

2005-07-01T20:32:00.000-07:00

There was an interesting quiz on AOL today about real estate investments. Some of the questions and answers were over simplified, but it's a good primer. Here's the link to take the quiz.
Have a great week-end,

Carol

Realtor, ABR, e-PRO, GRI, RECS, REI
Serving all of Washington State
Specializing in Wenatchee & Surrounding Areas
Phone: 509-670-7840 * Fax: 419-818-4009
Website: http://TopPropertiesWenatchee.com
Residential blog: http://CarolsWenatchee.com
Investment blog: http://RealEstateSuccess.blogspot.com
e-mail: Carol@TopPropertiesWenatchee.com

Current Posts

2005-07-01T15:37:00.000-07:00

For current posts, click here

Gone To Seattle

2005-06-28T22:01:00.000-07:00

Dear Readers,
I probably won't post for the next couple of days.

Gone To Seattle...

Have a great week!
Carol

Wannabe Millionaires

2005-06-28T07:34:00.000-07:00

Dear Readers,
There was an interesting article at CNN Money about the current No Money Down Real Estate Mania. With the real estate craze going on, more wannabe millionaires than ever are flocking to the gurus to teach them how to get rich with no money. These gurus make it sound like you can do deals with no money, no job AND no (bad) credit. Sadly, many of these "students" are sorely disappointed at the difficulty and complexity. No money is one thing, but a job and decent credit helps immensely. It has been done, and can be done... but it's not as simple as they make it sound! The truth is, it's easier to do no money down deals in a slow market when buyers are not so plentiful.

I work "creative financing" deals with investors... but it's not easy. There are no money deals out there, but not everyone has the temperament or ability to actually carry through, and when you're a new investor it's difficult to come across as credible.

This kind of reminds me of the Gold Rush Days. It wasn't the miners making the money, but the guys selling the picks and shovels. Do you see the correlation here?

Anyway, good article. I recommend reading it.

Have a great day,
Carol

Finding My Current Posts

2005-06-27T20:56:00.000-07:00

Dear Readers,
I've made several posts in my other real estate blog in the last few days, so please check it out.

The Wenatchee real estate market remains extremely active, with several new housing developments being built up at a record pace. Recent statistics indicate about 30% of our current sales are attributed to out-of-town buyers. A few of these are taking jobs here, but some are bringing their jobs with them (mobile technology, you know)... and many of them are retiring here for the sun and plethora of recreational opportunities.

Thanks and...
Have a great evening,
Carol

Wenatchee Real Estate Building Boom

2005-06-25T20:41:00.000-07:00

Dear Readers,
In the week-end issue of the Wenatchee World newspaper, there was a substantial article about the building boom going on in the Wenatchee and East Wenatchee area. For complete text of this article, titled "Space Race", click here.

Have a great week-end,
Carol

Rent-to--Own: The Pros & Cons

2005-06-24T19:35:00.000-07:00

Dear Readers,
I've always liked the rent-to-own or lease/option as a way to market unique properties, or homes where the seller really needs more than fair market value. I've done several of them with Wenatchee real estate and most of them have worked out fine. I think the national statistic for lease/options that actually close is about 20% but, if properly structured, offer significant benefits to both buyer and seller... and WILL close.

Lease/Options are rarely advertised because sellers generally want to sell outright and get out from under the monthly obligation. But, remember, with the obligation comes some significant tax advantages. Even in a hot, hot, hot real estate market such as we are experiencing now... there are properties so unique that stepping out of the main stream is required.

The other reason you rarely see them advertised is because most real estate agents don't want to bother with them. They don't understand how to put them together.. and, more importantly, think they won't get paid. I believe I am the only Wenatchee area real estate agent that actually promotes the rent-to-own option.

If you can find a buyer through a lease/option that 1) offers higher than market value, 2) provides an up-front (non-refundable) deposit and 3) payments to cover and exceed the monthly expense it can be a very attractive option to many sellers.

If you're interested in reading more information on the pros and cons of lease/options, here's a link to an article from the MrLandlord website.

Have a great week-end,
Carol

Put Everything In Writing With Tenants

2005-06-24T15:57:00.000-07:00

Dear Readers,
I was reading an article earlier in the day that addressed the issue of landlord/tenant communications. It said put everything in writing... everything. If a tenant calls to request a repair, have them also put it in writing. If you call them about their rent being late, also send them a letter. Keep copies of all this communication to create a good paper trail. This will help you should any future disputes arise, and also with your tax filing records.

Have a great week-end,
Carol

Watch for Wenatchee Real Estate Market Summaries

2005-06-22T22:20:00.000-07:00

Dear Readers,
Starting in July, I will do monthly market summaries for the following areas:

Wenatchee & East Wenatchee
Rock Island
Malaga
Cashmere
Leavenworth

In early July I will post a summary of the first six months of 2005. From that point forward, I will attempt to post a monthly market summary. This will include active listings, closed sales, and current pending sales... and average Days On Market (DOM) information.

Realtor, ABR, e-PRO, GRI, RECS, REI
Serving all of Washington State
Specializing in Wenatchee & Surrounding Areas
Phone: 509-670-7840 * Fax: 419-818-4009
real estate website: http://TopPropertiesWenatchee.com
residential blog: http://CarolsWenatchee.com
investment blog: http://RealEstateSuccess.blogspot.com
e-mail: Carol@TopPropertiesWenatchee.com

Summer Solstice

2005-06-21T22:27:00.000-07:00

Dear Readers,
You've gotta love the longest day of the year.
I was out showing property until nearly 8:30
this evening... no worries about impending darkness!

Want to know more about summer solstice? Check out this link.

Crazy Busy

2005-06-21T01:07:00.000-07:00

Dear Readers,
Sorry I haven't posted for a couple of days. It's been kind of crazy busy for me lately. Saturday, I spent the entire day with a couple transferring in from Reno. The Wenatchee real estate market is so hot here now, our inventory is very limited. After spending the whole day looking at homes, they decided it may be necessary to find a short term rental (which is another problem), buy a lot and arrange for a home to be built.

After our experience on Saturday, I was excited when a new listing popped up on Sunday that looked perfect for them. Despite the fact I had other out-of-town clients in town for the day (Sunday), I previewed the house for my new Reno friends and confirmed it was something they would most definitely be interested in. I called the clients and set an appointment to show it to them on Monday. During the showing, I called the listing agent to ask a question. She informed me there were 3 offers coming in that day! Mind you, this home (priced in the low 200's) had been on the market one single day.

It's a crazy time.

4-Plex Bonus Income

2005-06-18T20:28:00.000-07:00

Dear Readers,
On my other blog I posted an article today about how to make some extra money with your multi-family units. If you're considering building a multi-family unit, you might want to consider this strategy.

Have a nice week-end,
Carol

Now I've Done It!

2005-06-16T09:14:00.000-07:00

Dear Readers,
This morning I was trying to get inspired about what to write in my blog entry for the day. I've been doing alot of work on my other blog and my main real estate website and haven't posted here for a couple of days.

I've been posting daily residential activity on my other blog and don't want to duplicate here because, rumor has it, the search engines don't like that! They consider it spamming the search engines, I guess. So, I went to Yahoo, and typed in "Wenatchee real estate news info and trends", hoping to find something to kick start my brain.

Anyway, I was surprised to see my other blog was listed as the #1 source and this blog is the #3 source. The link between me and myself didn't even work. So, now I've created quite a dilemma. I am the source of news, info and trends in Wenatchee real estate... so I better go out and make something happen to write about. :-)

Ummm. Not a bad problem. Gotta go....

Cheers!
Carol

Buying Foreclosure Homes

2005-06-14T14:17:00.000-07:00

Dear Readers,
Regardless of the "hot" real estate market, there are lots of foreclosure homes on the market these days. I often get calls from people who want to buy foreclosure homes because they think they can buy them for pennies on the dollar, as they are led to believe... by, what I consider, somewhat false advertising.

The reality of dealing with foreclosure homes is not what most people have been led to believe. First of all, many of the foreclosed homes have been over-mortgaged. The only craze hotter than the home buying craze has been the lending craze. How many solicitations for re-financing your home have you received in the last year? Probably at least one per week.

If you really think about it, if a homeowner could sell their home for more than what they owe they'd do it... and keep the difference. This would certainly be better than getting kicked out of your home with nothing to show for it.

The truth is, most people owe more than what they would net (after paying off the mortgage and selling costs). So, what is happening is the banks are re-possessing the homes and trying to sell them for what is owed on the property. They are not trying to make a profit. They are just trying to recover their investment (plus legal fees to foreclose and sell).

O.K... so let's say you do find a foreclosure you are interested in and the price actually does seem to be a good deal. Should you jump on it? Maybe and maybe not. The next problem with foreclosures is that the banks make you accept the house in "as is" condition. That means they make no warranties or guarantees. They know nothing about the property and take no responsibility or liability for it. You've got to do alot of "due diligence" when buying any home but even more so with a foreclosure homes, because there is nobody to take responsibility if there are undisclosed problems.

The next problem is financing. Many foreclosure homes have maintenance and repair issues. I've actually seen foreclosure homes where the toilets and kitchen cabinets have been stripped. Bitter occupants take what they can and leave in the night. Anyway, the foreclosing banks don't want to spend the money to fix them up. They want to sell them "as is". This causes a problem when trying to get new financing. The "new" lender doesn't want to finance a home needing repairs... so you need to have a large down payment (or all cash) to make the deal work. Then you need more cash to actually make the repairs.

If you actually do have enough cash to buy a foreclosed home, you might consider looking for a "desperate" seller BEFORE foreclosure happens. You could probably buy the home for less from the seller than from the lender. If it actually goes through foreclosure, the lender now has the added foreclosure costs on top of their already high mortgage balance.

Every situation is different, of course. If you see a property you are interested in, I'd be glad to analyze and discuss some strategies on a case by case basis.

Have a great day!
Carol