Leavenworth Real Estate

Archive for the 'Leavenworth Vacation Homes' Category

Leavenworth Forest Fires – An Insurance Prospective

Guest Post by Eric Kossian of Leavenworth Insurance

The areas surrounding the towns of Leavenworth, Cle Elum, Twisp, Chelan, Entiat, Winthrop and parts of Wenatchee are some of the most fire prone areas in Washington, where there are large numbers of homeowners at risk. From year to year the wild land fuels, level of drought, temperature and weather combine to make a moderate to severe fire season.  You can view the full seasonal assessment each year at www.predictiveservices.nifc.gov/outlooks/outlooks.htm

These areas are some of the most lightning struck areas in the entire United States (often in the form or dry lightning) and it is not uncommon to have 10- 20 fires started from one passing storm further compounding the problem for firefighters.

What Has Been Learned From Past Fires?

1.       Stay alert for evacuations during mid June to Oct. If there has been a lightning storm or you smell smoke, turn on the radio to listen for any evacuation updates. With limited Sheriff personnel and a fast moving fire, they do not always have the time to notify everyone door to door so make your own decision. If you are advised to evacuate, do so immediately; fires can move 20- 40 miles in an hour under the right conditions.  Do not think that you will be able to make any difference by staying; leave that to the firemen. If you have time, close all windows and doors when leaving to prevent smoke damage and remove from against the house (at least 30 ft. away) any easily burnable items such as stacked firewood.

2.       Prepare your Property. Have only very low vegetation (such as green grass), if any, surrounding the 1^st 50 feet from the home. Any trees within 50 ft should be limbed up to 15 ft to prevent fire turning your pine trees into flaming torches. Firefighters will make decisions about whether or not your home is “defensible” by the level of fuels present immediately surrounding your home.  You might even ask your local fire dept. to give you their recommendations for what you can do to make your property safer.

3.       Fire losses are basically one of 3 levels:  1. If a house is actually burned at all, it has a 90% chance of being a total loss.  2. Only 10% of homes with actual fire damage are partial burns, such as a garage door or deck.  3. Smoke Damage:  After a wild fire, it is not uncommon to see no damage to homes but all their contents in piles outside. (source: Insurance Journal May 18,2009)

4. 5 key things to look for in a good homeowner’s policy. Many of the best insurance companies offer less than ideal policies. Not all policies are the same; here’s some key things to consider:

A.      Does your home have “full replacement cost” or the more limiting “extended replacement cost” like 95% of policies have. That can make a difference of $100,000 or more in out of pocket costs after any fire.

B.       Does your policy have “ordinance and law” coverage to pay for current code requirements or will your policy just pay to replace what was there?

C.      Does your policy have “additional living expense” (ALE) coverage or broader “loss of use” (LOU) coverage? ALE will not pay for your additional living expenses if you are just required to evacuate for a week but have no damage to your home, whereas LOU pays for up to two weeks when “civil authority prohibits use”.

D.      Furthermore, some companies limit coverage from ALE or LOU to a specific time limit of 12-24 mo. For larger home or in areas where the number of homes having to be replaced exceeds the number of quality contractors to go around it is very unlikely the 12 mo. limit on additional living expenses will be enough.

E.       Many policies limit either ALE or LOU to 20% of the estimated replacement cost of the home. Better policies provide 25%, 30% or just a time limit and that can mean an additional $20-40,000 in out of pocket costs paid by the insurance company for the average homeowner.

Eric Kossian, Underwriting Specialist, owns an independent insurance agency catering to financially responsible homeowner clients throughout Washington State. He can be reached at by email at [email protected]

Kahler Glen Condos : Oversupply = Time to Buy

Updated 4/23/2012

Condos at the Kahler Glen Golf Course near Lake Wenatchee have been a favorite with Leavenworth vacation home buyers for the past few years. Everyone seems to have a favorite reason:

• On the Kahler Glen Golf Course
• XC ski out the door in winter on groomed trails
• About 200 sqft bigger than other 2 bedroom condos
• Minutes to Lake Wenatchee
• Easy to add to Kahler Glen Rental Pool

 

 

 

 

 

 

 

 

From 2005 to 2007 we saw relatively few condos at Kahler Glen come on the market and even less of the Natapoc units on Clubhouse Drive. This scarcity has caused prices to climb up and up and up. In 2005, 2006, and 2007 all the units that came on the market were sold.

In early 2008, I had a client ask about Kahler Glen Condos and I helped him find one, even though there weren’t any listed. We were able to get one for $325,000 which included a membership to the Kahler Glen Athletic Club .   A few months later another agent listed a unit for $369,000.

Unfortunately for Kahler Glen Condo owners more units came on the market in 2008 as our real estate market was quieting down and the stock market was taking a nose dive. As more units came on the market, and no condos sold, the sellers had to adjust their prices.

In 2008, 3 Kahler Glen Condos were listed on the MLS and in 2009 an additional 2 were added to the list. In 2009, oversupply lead to dropping sales prices and I wrote that this might be a good time to take advantage of low prices.

Despite an increase in sales, supply continued to outpace demand at Kahler Glen. The following is an updated chart showing the history of Kahler Glen condo prices over time.

 

 

Kahler Glen condominium prices have dropped approximately 50% of their value since the peak of the market in 2007. They are the only subsection of the Leavenworth market to do so.

Future pricing of these condos depends on the number of units available for sale in relation to the number of sales.

Click here to see which Kahler Glen units are currently 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.

Leavenworth Real Estate Update | Sold Homes April 2009

Two homes sold in the Leavenworth area in April, one in town and one out off of Chiwawa Loop Road.  No condos sold this month.

 

416 Burke St, Leavenworth

List price: $269,000.  Sold price: $250,000. 

Days on Market: 90

3 bedrooms | 1 bath | 2326 sqft| .22 acres.

Former US Forest Service house, this home has a full basement with two additional non-legal bedrooms.  It also sits on three city lots and has a garage.

 

 

 

 12310 Allen Road, Leavenworth

List price: $459,950.  Sold price: $393,000. 

Days on Market: 197

3 bedrooms | 2 bath | 1712 sqft| 2 acres.

Cute cabin in the Shugart Flats area.  Great Patio and part of the acreage is parked out with a nice area for kids to play.

 

 

More Leavenworth Real Estate Info

• Click Here to See Leavenworth Sold Homes for March 2009
• Click Here to See Cashmere Sold Homes for April 2009
• Click Here to Search for Leavenworth Homes for Sale 

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.

Leavenworth Real Estate Update | Sold Homes March 2009

 

 Leavenworth had five single family homes and one condo close in March of 2009.

 

 

15860 Cedar Brae Road, Lake Wenatchee

List price: $449,950.  Sold price: $420,000. 

Days on Market: 76

1 bedrooms | 1 bath | 1500 sqft| .52 acres. 

Cute cabin on the south shore of Lake Wenatchee.  Great water front.  Winter access is park at Cedar Brae and walk down to the cabin.  One bedroom is the large upstairs loft.

 

 

 

 

12891 Chumstick Highway

List price: $399,000.  Sold price: $295,000. 

Days on Market: 282  

3 bedrooms | 2 bath | 2368 sqft| 2.08 acres. 

Three bedroom home on acreage.  

 

 

 

 

22595 Alpine Drive, Fish Lake

List price: $334,000.  Sold price: $315,000. 

Days on Market: 101

2 bedrooms | 1.5 bath | 1076 sqft| .55 acres. 

Cute cabin at Fish Lake with nice lake view.  Across the street from the lake and backing to Chiwawa River Road.  This home was a For Sale By Owner for a long period before it was listed.

 

 

 

 

15979 River Road, Wenatchee River

List price: $479,000.  Sold price: $423,000. 

Days on Market: 123  

2 bedrooms | 1 bath | 1232 sqft| .83 acres. 

Small cabin on the Wenatchee River.  Home is built above the flood plain with a great view of the river.  Acreage was parked out with easy river access.

 

 

 

12285 Village View Drive

List price: $639,000.  Sold price: $475,000. 

Days on Market: 449

3 bedrooms | 2.5 bath | 2525 sqft| .61 acres. 

New construction spec home above Leavenworth.  

 

Leavenworth Real Estate | Sold Condos March 2009

 

 

900 Main, Unit 301

List price: $575,000.  Sold price: $375,000. 

Days on Market: 659

2 bedrooms | 2 bath | 1321 sqft|  

Considered the best condo in the River Park Condo complex, this is the only condo to have sold on the open market.  Still four more condos  up for grabs.

 

More Leavenworth Real Estate Info

• Click Here to See Leavenworth Sold Homes for February 2009
• Click Here to See Cashmere Sold Homes for March 2009
• 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.