Monday, May 29, 2006

Thanks To Our Veterans

I love the American Flag.

Thanks to all our veterans for their service!

Saturday, May 27, 2006

Hillside Orchards in Central Washington

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.
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Monday, May 22, 2006

Wenatchee Area Orchard Listings

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.

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Wenatchee: Current Multi-family inventory

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.

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.

Search all Wenatchee area MLS listings
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Friday, May 19, 2006

Wenatchee Growth Forecast

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.

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Monday, May 15, 2006

Creating Home Buyers

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.

Sunday, May 14, 2006

Needed: Hotel Condos

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!

Saturday, May 13, 2006

Wenatchee ReHab or Rental

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.

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