Wednesday, July 27, 2005

My Favorite Mortgage Info Site

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

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

Sunday, July 24, 2005

Tax Strategies For Investors

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

Thursday, July 21, 2005

Castles For Sale

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

Tuesday, July 19, 2005

Local Electric Power Rates

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

Sunday, July 17, 2005

Latest Foreclosure List

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

Wednesday, July 13, 2005

Follow the Link

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


Monday, July 11, 2005

Tugboat House For Sale

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

Saturday, July 09, 2005

God Bless America!


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

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

Wednesday, July 06, 2005

Latte Funded College Education?

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

Tuesday, July 05, 2005

Scott & Laci Peterson's Home Is Sold

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?

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

Monday, July 04, 2005

Sunday, July 03, 2005

Wanted - 1951 or 1955 Chevrolet Pick-up Truck

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

Friday, July 01, 2005

Want To Be A Real Estate Tycoon?

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

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