Wenatchee Real Estate: Overcoming Size and Location Issues

My last post outlined the factors that affect the value of your Wenatchee home (or a home anywhere). Some of those factors included "hard facts" that cannot be changed (without considerable cost).  Today, I would like to discuss ways to maximize the value of your property in spite of these set factors.

Square footage:  If your home is small, it is important to make it look "spacious".  It is always important to declutter when you put a home on the market and even more so if the living space is limited. Keep counter spaces clean, remove any unnecessary furniture, decorative trinkets and other items (in all rooms) that aren't necessary for daily living. This will open up the available space and make it seem more spacious. Also, don't stuff things in storage spaces.  Make them look spacious, as well.  If all available storage (including the garage) looks FULL, it will give a perception of not enough storage space in the home. It may behoove you to rent a storage unit or borrow some space from a family member or friend.  The article, linked above, also has some painting and design tip to help.

Location:  This is a tricky one... and a good example of why you should understand the importance of the link between value and location BEFORE you ever buy a home.  Location is probably the most critical factor in a property's value.  The ugliest home in a good location is of greater value than a similar, beautifully maintained, home in a poor location.   If you find yourself in a situation where you ARE trying to sell a home in a poor location, look around and see if there is anything you can do to improve the surroundings. Perhaps, a few dollars (and hours) invested in helping the neighbors spruce up their property would be a good investment.  This must be done in a tactful way, of course.  And, being on good terms with your neighbors is always helpful in getting them to cooperate in helping you attract a desirable buyer.   If you love your location, but your home is just too small or doesn't meet your needs for another reason, remodeling or an addition may be a good choice.  When you factor the cost of the remodeling (offset by the cost of selling), it very well may be a good choice to stay put.

Lot size:  Again, as with square footage, the lot size is what it is.  If the lot is small, you must attempt to make it look as spacious as possible.  Keep it clean and minimally cluttered.  If the lot is large, keep it well maintained and look as low maintenance as possible.  You don't want people loving the lot size but cringing at the thought of all the time that will be required to maintain it.  Some people LOVE yard work, but most people are busy and want to "play" in their spare time.

Please contact me if I can help you navigate through the decisions involved in buying or selling your Wenatchee area home.

Erin Davidson
Wenatchee Real Estate Agent

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Wenatchee Real Estate: Factors That Influence The Value Of Your Home

It goes without saying that all homeowners want to realize the best price possible when it's time to sell their home. 
What factors do affect the ultimate selling price?
  • Current real estate market conditions:  Market conditions change constantly, and I mean constantly.  It is critical to be aware of the most current selling & buying environment.  How many homes are currently on the local market? How many homes are selling per month in each price range?  How many home listings "expire" due to over pricing?  What is the "pending" to "closing" ratio?  If you and your agent aren't aware of the most current conditions, your home could get left in the proverbial dust, while other homes sell.
  • The market knowledge, marketing ability, and reputation of your real estate agent:   Market knowledge and marketing ability are a given, of course.  The reputation of your agent is equally as important because you want other agents, loan officers, appraisers, inspectors and other industry professionals to enjoy working with YOUR agent to get your home sold and closed quickly.  Selling a home takes many people throughout the process.  To help it go smoothly, everyone must work together amicably.
  • Hard facts such location, lot size, square footage:  These are factors you can't change. Focus on maximizing any shortcomings of these factors, if necessary.  That is fodder for another entire post.
  • Selling and listing price of comparable homes in the area:  If you and your agent aren't familiar with comparable homes in the area, you are shooting in the dark.  It is not enough to know the size, number of bedrooms and bathrooms.  You must be familiar with interior condition and amenities of the competition.  
  • A comprehensive real estate marketing plan:  There are so many options out there for promoting your property now, it is impossible to use them all.  Your agent must know what is most effective for your home in the Wenatchee real estate market area now.
  • Your level of motivation:  This will affect your willingness to price your home properly and do what is necessary to make it stand out against the competition.  If you are not motivated, I wouldn't recommend wasting your time, or the time of other professionals involved in the process.  There are too many people out there that do NEED to sell and need the full attention of those professionals working for them.
Factors that do NOT affect the price of your home:
  • The profit you wish to make from the sale:  Buyers don't care how much money you want or need.  They only look at your home in comparison to what else is available for them to choose from.  
  • The amount of money spent on improvements:  Improvements often help your home sell, but  rarely will return your investment dollar for dollar.  The most common exceptions would be painting and carpeting.  If you are considering major improvements, consult a real estate agent and get a "before" and "after" opinion of value.  This will help you determine whether you should do the improvements or consider selling and then buying a home more suited to your wants and needs.
  • The original price you paid for your home.  The price you paid has absolutely no bearing on it' current value!   Market conditions are the only factor determining the current value of your home.  
Erin Davidson
Wenatchee Real Estate agent

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Wenatchee homes, East Wenatchee homes, Malaga homes, 
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Wenatchee Real Estate & USDA Home Loans

Dear Erin,
The other day I had someone suggest I look into a USDA home loan.  I know people who work at the USDA lab here in Wenatchee, doing research on fruit crops.   I didn't know they do home loans ! What is the USDA home loan program about?  Do we have to grow a food crop?  -Curious

Dear Curious,
No... you don't have to grow any crops! But DO NOT call the local research lab asking about home loans.  They will just say "Huh?" 

The USDA home loan program doesn't have anything to do with growing food.  There are some very specific qualifications, however. 

Here is an exerpt from the government website, outlining the USDA Home Loan program:

"A USDA home loan from the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, is a mortgage loan offered to rural property owners by the United States Department of Agriculture.

The mission of USDA Rural Development’s Single Family Housing Guaranteed Loan Program is to assist low to moderate income rural homebuyers achieve their dream of homeownership!
Rural Development partners with approved local lenders to extend 100% financing opportunities to eligible rural individuals and families for the purchase of safe and sanitary dwellings. Guaranteed loans have assisted thousands of homeowners to purchase a home with affordable interest rates and loan terms. 

Applicants must purchase a home within the eligible rural areas, and have a household income that does not exceed the established limits where the home is located. Additional Guaranteed Loan Features include but are not limited to: 
  • 100% financing, no down payment is required. The loan amount may not exceed 100% of the appraised value, plus the guarantee fee may be included.
  • Guarantee Fee applies: may be rolled into the loan amount.
  • Flexible credit guidelines. Non-traditional credit histories may be accepted.
  • Fixed 30 year interest rates apply. Lenders and applicants agree upon interest rate.
  • Qualifying ratios are 29% for housing costs and 41% for total debt. Lenders may request an exception to exceed these ratios when strong compensating factors are identified.
  • No maximum purchase price. Qualifying ratios and the applicant’s stable and dependable income will determine home affordability.
  • Eligible property types include existing homes, new construction, modular homes, Planned Unit Developments (PUD’s), eligible condominiums and new manufactured homes.
  • Eligible closing costs and lender fees may be included in the loan or paid by the applicant.
  • Gift/Grant Funds/Mortgage Credit Certificates (MCC’s)/Seller Concessions are allowed.
  • Eligible repairs and improvements may be included in the loan.
  • Applicants apply with an approved lender of their choice.
  • Not limited to first time homebuyers."
If you are interested in the USDA home loan program, there is currently eligibility in Chelan and Douglas County.  This eligibility changes, so you might want to check into it sooner rather than later.

Your REALTOR can help help guide you through the process, finding a qualifying home and USDA approved lender.  Your first step would be to find an approved lender to determine if you meet the borrower qualifications.  If you do, then you and your REALTOR can search for a home that meets the location qualifications for the program.

Good luck and let me know if I can help you!

Erin Davidson
Wenatchee Real Estate agent

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The Alphabet of Reasons to Live In or Move To Wenatchee, Washington Part 4: U - Z

Welcome back for Part 4, the last of the Alphabet series, outlining the plethora of reasons to check out Wenatchee real estate, and discover the best reasons to settle down to life in one of the best places on Earth.
Click here if you missed: Part 1, Part 2, or Part 3.

U: Unbridled Lifestyle.  Wenatchee's location in the geographic center of the state lends itself perfectly to access to any kind of activity you can imagine.  We have it all... almost.  We don't have the "big city" lifestyle but, if you do want that, it's just a few hours drive away.  However, I suspect, if you're even remotely considering Wenatchee as a place to live (and/or play), you probably are NOT looking for the big city lifestyle.

V: Victory.  Claim "victory" over boredom!  There is so much to do and see, there isn't much chance on being bored (unless you really want to chill out and be bored voluntarily).

W: Water, Weather, Wine.  The Mighty Columbia River provides plenty of water for playing and watering many of the beautiful and productive fruit orchards in the region.  Our extensive irrigation canal systems also provide water for the orchards not served by the river... and to many of the private residential properties in the area.    I've mentioned the sunny weather and many wineries in the area before.

X: eXtraordinary.  As you can tell by this A-Z list, Wenatchee is not a normal place.  It truly has an extraordinary combination of reasons why people flock here to work and play.

Y: Young and Old.  One of the great things about Wenatchee is it's appeal to the Young and old, alike.  Young adults who were raised in the Valley and left for college, and to establish careers, often move back as an appealing place to raise their own kids and work in a less hectic environment.  Many, many people move here after retirement to enjoy the weather and recreational opportunities.

Z:  Zest.  It all comes down to a "zest" for life.  Wenatchee is just a great place to live, work and play!

I hope you have enjoyed this 4-Part series on why Wenatchee is such a special place.  If you have any questions or comments, please don't hesitate to contact me.  I love sharing my experience and current news and information about Wenatchee and real estate. 

Enjoy the summer... wherever you are!

Erin Davidson
Wenatchee Real Estate Agent and Broker


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Wenatchee homes, East Wenatchee homes, Malaga homes,
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The Alphabet of Reasons to Live In or Move To Wenatchee, Washington Part 3: O - T

Welcome back for Part 3 of the many great reasons to check out Wenatchee real estate, and settle down to life in one of the best places on Earth to live.
Click here is you missed Part 1 or Part 2

O: Ohme Gardens: From high upon a bluff overlooking the beautiful Wenatchee Valley is Ohme Gardens.  Originally intended as a private family retreat for the Ohme family, interest of friends and community members prompted them to open the Gardens to the public in 1939.  The Ohme family owned the property until 1991 when Washington State Parks & Recreation purchased the gardens and surrounding property.  It is currently owned and operated by Chelan County.   It is a popular spot for weddings and many other events.

P:  Parks:  There are over a dozen community, county and state parks in the immediate Wenatchee area.  The Wenatchee Department of Parks and Recreation has lots of information on their website about the local parks, pool, and community events.

Q. Quandry:  The Quandry is what to do with your spare time in Wenatchee.  So many choices, so little time!    Ok, so it's not that easy to come up with activities that start with the letter Q but Quandry seemed like a good option! 

R: Rafting:  The Wenatchee River, running a windy 53 miles from beautiful Lake Wenatchee into the Columbia River at the north end of Wenatchee, is a very popular site for whitewater rafting from April thru August.  Most of the actual rafting takes place between Leavenworth & Cashmere.  There are about 5 different companies offering whitewater river rafting in the Wenatchee area.  Just do an internet search for "Wenatchee River rafting" and you will get lots of choices.

S: Sunshine:  The obvious choice for this category is our 300 days of sunshine.  We don't always have sunshine, but we have a lot of it!  Most of the days without sunshine are in December and January, but there are lots of activities in the area for those days too.

T: Town Toyota Center:  In spite of the financial controversy surrounding this facility, it has been a wonderful addition to the community.  We now get some seriously good programs and concerts IN Wenatchee.  The Town Toyota Center website touts "World Class Entertainment and High Impact Sporting Events.

Enjoy!

Erin Davidson
Wenatchee Real Estate Agent and Broker

* Sharing current news and information about Wenatchee real estate

Free Search of the entire Wenatchee real estate MLS
Wenatchee homes, East Wenatchee homes, Malaga homes,
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The Alphabet of Reasons to Live In or Move To Wenatchee, Washington Part 2: H - N

Welcome back for Part 2 of the many great reasons to come buy some Wenatchee real estate, and settle down to life in one of the best places on Earth to live.

Click here if you missed Part 1: A - G 

H:  Hockey & Hydro-power:  The Wenatchee Wild is our ice hockey team, which is part of the Pacific Northwest Amateur Hockey Association!  Come join the fun!     Inexpensive hydro-power is one of the best reasons to live and/or run a business in the Northwest...specifically the 3 county (Chelan, Douglas & Grant) area surrounding and including Wenatchee.  I mentioned it before under "E" for "Electricity", but it is worth mentioning again.

I:  Incredible Weather:  The Wenatchee Valley Chamber of Commerce boasts that Wenatchee has 300 days of sunshine.  Here is a link to a site outlining Wenatchee weather throughout the year. 

J:  Jogging.: Whether you are actually a jogger, runner, walker, biker, or rollerblader, or just like to stroll... you will find lots of trails.  Our 10 mile Apple Capital Recreation Loop Trail is one of the most amazing and popular attractions, with lots to see and do along the trail.

K:  Kiddie Parade:  The first week-end of the annual Apple Blossom Festival in Wenatchee includes a parade focused just on kids and a youth day.

L:  Leavenworth and Lake Chelan:  Not ALL of the fun is in Wenatchee.  Leavenworth, just 25 miles west of Wenatchee and Lake Chelan, which is 35 miles north of Wenatchee, are both very popular destinations for residents and tourists.

M:  Mission Ridge and Museum:  How cool is it to have one of the best ski and snowboard areas in the Northwest just 12 miles from town?  Mission Ridge has amazing views of the Wenatchee Valley, lots of sunshine and plenty of terrain for every level of ski enthusiast.  The Wenatchee Valley Museum and Cultural Center is also a treasure of our community.

N:  Nature and Natural History:  Wenatchee abounds in plants, animals, and geologic history.  Visit the Wenatchee Naturalist website and consider joining in on some of their events. Here is a link to a short and interesting video about the geology of the Ice Age Floods of the Wenatchee area.

Come back soon and check for the third installment of the Wenatchee Alphabet Series.

Hope you are enjoying this beautiful weather!

Best Regards,
Erin Davidson
Wenatchee Real Estate Agent and Broker

"Sharing the current news and information about Wenatchee real estate

Free Search of the entire Wenatchee real estate MLS
Wenatchee homes, East Wenatchee homes, Malaga homes,
Cashmere homes, and Leavenworth homes

The Alphabet of Reasons to Live In or Move To Wenatchee, Washington Part 1: A - G

When I decided to write this series on the best things about Wenatchee, it was difficult to know where to start.  There are so many BEST reasons, it is impossible to list them by number so I decided to go with an alphabet series instead.  Here is part 1... A - G.  

A:  Apples and Art:  If you Google "Apple Capital of the World", Wenatchee not only dominates page 1 search results... it totally fills page 1. If you want to learn more than you ever wanted to know about apples, visit the Washington State Apple Commission website.  Then, I recommend you make a trip to their visitor center.  Not only do we have the best apples in the world, we also enjoy local production of excellent pears, cherries, peaches, prunes, and nectarines.   As for Art, check out the Art on The Avenues website to learn about the wonderful display of sculpture art throughout the city. Click on the arts in the Wenatchee area, for more information.

B: Blossoms, Baseball and Beer. If you want to truly the feel the amazement of Spring, come to Wenatchee in the Spring when you will see acres and acres of fruit blossoms explode in the valley. Be sure to take the annual Washington State Apple Blossom Festival in Wenatchee the last week in April and the first week-end in May. It is impossible to take in all the activities, so you need to come back every year.  Wenatchee is home of the Wenatchee Apple Sox, members of the West Coast League of the Summer collegiate league.  According to the team's website: "The AppleSox provide affordable family entertainment for baseball fans throughout North Central Washington, and an excellent environment for college players from around the country to develop their skills".  As for beer, we are seeing a trend toward more breweries in the Valley. 

C: Columbia River.  There is no way to list all the benefits of having the mighty Columbia River running smack dab through the middle of our beautiful city.  It offers a plethora of recreational opportunities, a source of water for orchards, and plenty of hydro-electric power.  It is a key component of our economy and our playground of activities.

D: Dams.  Yes, dams!  There are many dams on the Columbia River and two in a close proximity to Wenatchee proper.  The Rock Island Dam is just 10 miles South of Wenatchee and the Rocky Reach Dam is just 6 miles north of Wenatchee, providing some of the least inexpensive electricity rates in the entire nation.  This inexpensive power is a HUGE benefit for homeowners and businesses alike.  If you live in an area with high power rates, you might find it worth moving to Wenatchee just for the inexpensive power rates.

E: Economy.  The Wenatchee economy is strong, diverse and resilient.  We have several significant industries which creates a resiliency not found in many places.  We do not depend on one major industry.  Among others, Wenatchee boasts such major employers as: The Aluminum Company of America (ALCOA),  Various medical facilities, Chelan & Douglas Country PUD's, Agriculture, Local Government, State Government, Federal Government, Education, various major Retail outlets and typical service industries.  High technology is also becoming a major player in our employment numbers.  The very diversity of the local economy shields us from some of the ups and downs of the national trends. 

F: Fun.  Whether you like indoor or outdoor (or both) recreation and entertainment, The Wenatchee area is a literal playground for our residents and visitors.    Go to the Wenatchee Valley Chamber of Commerce website and explore some of the possibilities.

G: Grapes.  Although Wenatchee is still known for our apples, grapes and wineries have been growing at a steady pace.  Check out this link to some of the wineries in the Wenatchee area. 

Come back soon and check out the rest of our Alphabet Series on the Best of Wenatchee.

Happy Spring!

Erin Davidson
Wenatchee real estate agent and Broker

Free Search of the entire Wenatchee real estate MLS
Wenatchee homes, East Wenatchee homes, Malaga homes,
Cashmere homes, and Leavenworth homes