Leavenworth Real Estate

Leavenworth Real Estate – Great Deals

It’s no news that the real estate market is quieter now than it was in 2007 or 2008. Luckily (for home sellers) home prices have not really fallen in Leavenworth like they have in places like Seattle or worse, Detroit.

A quiet market can be a great opportunity for a savvy real estate buyer, so with that in mind, here are my thoughts on some great bargains that can be had.

Kahler Glen Condos

Condos at Kahler Glen have always been popular. They are large for two bedroom units ( 1266 sqft) , located on the golf course, and can be easily added to the Kahler Glen rental pool.

In 2004, the median condo sold for $170,000. In 2006, it was up to $275,000. In 2007 and 2008, the sales prices were up to $325,000. 

Currently, there are 3 condos available, each with listing prices of $299,000. I would be surprised if a buyer couldn’t get a discount off that price and be closer to the 2006 prices.

You can see all the Kahler Glen Homes for Sale Here.

New Construction Condos in Leavenworth

Let’s face it. The Leavenworth condo market is overbuilt. There are currently over 40 newly built condos for sale in Leavenworth which is probably 3 times as many as could possibly sell in one year.

Click to here to peruse the selection of Leavenworth Condos for Sale and don’t be shy about making lowball offers.

Cabins in Ponderosa Estates

The Ponderosa neighborhood outside of Plain, has offered some of the best values in cabins over the past few years. In 2008, 13 homes sold in this neighborhood at an average of $340,000 with a median price of $314,000. Currently there are 12 homes available at an average of $259,000 and median of $306,000. Not every home for sale is a bargain, but there are some great ones here if you have been looking for a Leavenworth or Lake Wenatchee area cabin.

You can click here to see everything for sale in Plain’s Ponderosa Neighborhood.

Building Lots in Ponderosa Estates

In 2007 I scoured the market trying to help builders find decent lots in the Ponderosa Estates neighborhood. A flat lot on a decent street was selling for about $100,000 and everyone was looking for a deal.

Currently there are 4 lots for sale in Ponderosa ranging from $79,000 to $99,000 and some are on great streets with pancake flat topography. Remember, these are listing prices. Sales prices are likely to be even lower!

First Time Homes in Leavenworth

Currently there are 9 single family homes for sale inside the Leavenworth city limits for sale for under $300,000.  Houses aren’t cheap in Leavenworth, but you can get more for your money in 2009 than you could in 2008.  There are a number of programs available to make it easier for first time buyers.

• $8000 tax credit from the Federal Government
• 0% down USDA loan program for “rural development”
• 3% down FHA loan

 
Click here to Search for Leavenworth Homes for Sale

 

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Required Disclaimer

NOTE: This representation is based in whole or in part on data supplied by the North Central Washington Association of Realtors or its Multiple Listing Service. Neither the Association nor its MLS guarantees or are in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the Market.

This entry was posted on Monday, April 20th, 2009 at 2:13 pm and is filed under Home Buyers, Leavenworth Cabins, Leavenworth Condominiums, Leavenworth Real estate market, Leavenworth Vacation Homes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Richard Stabile Bergen County Real Estate said at April 23rd, 2009 at 8:03 pm

   Interesting, your market has not gone down. It also seeems by the data, it has continued to rise in price.
   That is very unique. What do you attribute it to?
   I have look at markets throughout the country, most have declined between 15-60%.

   Richard

2. Geordie Romer said at April 24th, 2009 at 6:39 pm

   Great question Richard.

   Two simplistic answers, though I probably need to write a post about this. Scarcity of land and lack of speculative building.

   Chelan County, the home of Leavenworth and Lake Wenatchee is mountainous rugged terrain. Only 15% is in private hands, the rest is U.S. Forest Service, National Park, BLM or State Forest. Much of the private land is also steep and much of it is in agricultural land which is difficult to transform into residential land.

   We have had very little speculative building of single family homes. I would guess maybe 10 homes were built on spec each year and that number has dwindled. Lots and lots of condos were built and I think we will see that market stay softer longer than the market for single family homes.

   I have a saying about the Leavenworth real estate market and the effect that second homes play. “Buyers don’t have to buy and sellers don’t have to sell.” If the sellers don’t have to sell, then prices don’t go down much.

3. David said at May 11th, 2009 at 9:23 am

   Geordie, what do you think of the market for developed lots in Leavenworth? We are considering buying a lot and eventually building a house. At the time we decided to pursue this, we were not ready to buy a home and did not have the money for a condo that was big enough for us (we were not looking for a rental, we were looking for a permanent home someday). It seemed at the time that the market was pretty hot, and we wanted to “get a foot in the door” so that when the time came, we had something already. Now the market has changed, and we are wondering if this is the best way to go. We will most likely not be buying anything this year, but aren’t sure if now is a good time to buy a lot, especially if in the future we decide to buy a home and then would have to sell the lot.

4. Geordie Romer said at May 11th, 2009 at 3:18 pm

   That’s a great question and worthy of its own post. (Coming soon)

   Are you looking for lots right in town or outside of town? The markets are a little different.

   The short answer is that I think it is a good time to buy lots if you find the one that fits your needs and a seller who is motivated. Builders aren’t buying now so you don’t have to compete with them and many sellers are motivated.

5. Buying Land in Leavenworth - Is now the time? | Icicle Creek Real Estate said at May 18th, 2009 at 8:15 am

   [...] a previous post I mentioned a few parts of the Leavenworth real estate market that I thought held the most promise for great deals. In the post I [...]

6. antwerpenR said at July 18th, 2009 at 4:35 am

   Interesting – thanks for using and crediting my picture!

7. Leavenworth Real Estate Deals | Icicle Creek Real Estate said at August 25th, 2009 at 11:33 pm

   [...] In the past I have pointed out some parts of the Leavenworth real estate market that I think have some good deals. [...]

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