Leavenworth Real Estate

Leavenworth Real Estate | Sold Homes March 2010

 

One condo and seven homes sold in Leavenworth during the month of March.

 

22543 Meadow Creek Road, Leavenworth

List price: $299,800.  Sold price: $200,000.

Days on Market: 547

1 bedrooms | 1 bath | 1044 sqft | .31 acres

This home located in the Alpine Tracts neighborhood on Fish Lake had lake access but no real lake views.  The home backed to Chiwawa River Road and had a challenging layout.

 

 

 

10512 Chumstick Highway, Leavenworth

List price: $227,000.  Sold price: $237,600.

Days on Market: 87

3 bedrooms | 1.75 bath | 1344 sqft | 5 acres

Approximately a mile from Leavenworth, this home was a foreclosure sale.  Most of the acreage is hillside but the home sits on a large flat area and has a huge car port.  Sellers paid $5000 in closing costs.

 

 

 

2314 Pine Tree Road, Leavenworth

List price: $585,000.  Sold price: $280,000.

Days on Market: 661

3 bedrooms | 2 bath | 1805 sqft | .45 acres

This cabin is in the Chiwawa River Pines neighborhood on the Chiwawa River.  It has an additional 2 bedroom guest house.  This home was a foreclosure.

 

 

 

 

21202 Stetson Road, Leavenworth

List price: $369,900.  Sold price: $299,900.

Days on Market: 382

2 bedrooms | 2.5 bath | 1175 sqft | .31 acres

This log cabin is in the Ponderosa Estates neighborhood.  Built in 2007, the cabin had a large living room with a bedroom on either side.

 

 

 

 

 

236 Scholze Street, Leavenworth

List price: $349,900.  Sold price: $315,000.

Days on Market: 364

4 bedrooms | 2 bath | 2008 sqft | .31 acres

In town Leavenworth home built in 1965 has a two car garage with a man cave.  Great landscaping in the back with a zen rock garden.

 

 

 

 

 

 

9762 North Road, Leavenworth

List price: $358,900.  Sold price: $3240,500.

Days on Market: 98

4 bedrooms | 2.5 bath | 2496 sqft | 1.09 acres

This home on North Road sits on an acre, has a two car detached garage, and was a foreclosure.

 

 

 

 

 

9515 Lone Pine Orchard Drive, Peshastin

List price: $3,900,000.  Sold price: $2,250,000.

Days on Market: 937

6 bedrooms | 6.5 bath | 8,888 sqft | 2.86 acres

This exquisite log home sits on the Wenatchee River and was used for corporate retreats.  Huge home with lots of bedrooms.

 

 

 

 

 

Leavenworth Condos

 

525 Alpine Place B-4, Leavenworth

List price: $239,900.  Sold price: $200,000.

Days on Market: 335

2 bedrooms | 2 bath | 923 sqft

Upstairs unit at Alpine Place, this unit has vaulted ceilings and came furnished.

 

 

 

More Leavenworth Real Estate Info

• Click Here to See Leavenworth Sold Homes for Feb 2010
• Click Here to See Cashmere Sold Homes for March 2010
• Click Here to Search for Leavenworth Homes for Sale

 

**********************************************************************************************************

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.

Cashmere Real Estate | Sold Homes March 2010

In March, three homes sold in Cashmere.

 

 

4700 Mission Creek, Cashmere

List price: $180,000.  Sold price: $180,000.

Days on Market: 43

4 bedrooms | 1 bath | 1800 sqft | .50 acres

A 1980’s home just outside of town.  The seller, buyer and real estate agent all had the same name and the house came on the market pending.  $5000 in closing cost was paid by the seller.

 

 

 

215 Elberta Street, Cashmere

List price: $220,000.  Sold price: $196,000.

Days on Market: 469

2 bedrooms | 1 bath | 1952 sqft | .09 acres

Cute, classic 1940’s home one street off of Cottage Avenue that had an interior make over.  One factor to long time on market is the cinder block construction.  Seller paid $1300 in closing costs.

 

 

 

7435 Nahahum Canyon, Cashmere

List price: $275,000.  Sold price: $260,000.

Days on Market: 102

4 bedrooms | 2.5 bath | 2334 sqft | 5 acres

This home was built by the former owner and was not completely finished.  The home was a foreclosure.

More Leavenworth and Cashmere Real Estate Info

• Click Here to See Cashmere Sold Homes for Feb 2010
• Click Here to See Leavenworth Sold Homes for March 2010
• Click Here to Search for Cashmere Homes for Sale

**********************************************************************************************************

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 Flood Insurance

I received two helpful emails in my inbox today about flood insurance.

Darel Ansley at People’s Bank in Wenatchee writes:

If you are involved in any purchases requiring flood insurance, there are currently no policies being issued, and these transactions cannot close without flood insurance.

As you may have heard, the National Flood Insurance Program’s authorization from Congress expired March 28, which means they cannot issue any new flood insurance policies until their authorization is restored sometime after Congress returns to work. They have a hearing scheduled for April 21st , and sometime after that will be able to vote on re-storing flood insurance. (I guess Congress was too busy with another issue the last few months so they didn’t get to this one before their recess). Your client can get a flood insurance quote, but closing will be delayed until NFIP gets their approval from Congress and can then start issuing coverage.

Luckily, Erik Kossian of Leavenworth Insurance followed up with his own update.

Flood Insurance: If you are involved in any purchases requiring flood insurance, there are currently no  National Flood Policies being issued, but some insurance companies still are writing their own flood insurance.

As you may have heard, the National Flood Insurance Program’s authorization from Congress expired March 28, which means they cannot issue any new flood insurance policies until their authorization is restored sometime after Congress returns to work. They have a hearing scheduled for April 21st , and sometime after that will be able to vote on re-storing flood insurance

However, we may be able to help!

I have flood available for many but not all flood zones through regular insurance companies (not insured by the federal national flood program.)

My policy covers residential dwellings for the perils of earthquake, landslide, and flood, all in one policy. The highest limit available is $12.5 million.

Here are the Coverage Details:

• Coverage includes the following limits as a percentage of the dwelling value:

Other Structures 10% (may be increased)

Personal Property 20% (may be increased)

Additional Living Expense or Loss of Rents 10% (may be increased)

• Replacement Cost on both dwelling and contents

• Deductibles are based on a percentage of the highest coverage limit: 5%, 10%, or 20%

(i.e. if the highest coverage is the Dwelling at $250,000, a 5% deductible would equal $12,500)

• 80% Co-Insurance

• 4% Inflation Guard

Optional Coverages:

• Since “Other Structures” does NOT include docks, bulkheads, piers and retaining walls, coverage may be available via endorsement; submit to your underwriter with details: limit, construction material, and exposure

• Earthquake or other peril may be excluded to avoid duplicate coverage

Other Notes:

• Any type of construction

• Dwelling does not have to be retrofitted

• No age restrictions

• Condo Owner coverage available

• Coverage is not available in all Flood Zones, especially high risk of flood.

• Underwriting is conducted on a per location basis; no use of generic maps

• Cannot be vacant for more than 90 consecutive days

• Low minimum premiums

• 24-hour in-house quoting turn around

• Financing, Direct Bill, and Mortgage Bill are available

Our Graph : Your Headlines

 

I thought I would try something a little different this quarter. I’ve posted the chart showing the trend in prices and I’ll leave it up for a few days for folks to add their own headlines or commentary about what they think is going on. I’ll post my thoughts later in the week.

 

 

 

The second chart shows the volume – the number of homes sold in the first 3 months of the year.

 

So, what are your thoughts? Got a witty headline to share with other readers?

Please leave your ideas in the comments.

 

**********************************************************************************************************

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.

Writing Offers in the Leavenworth Real Estate Market

Mostly when we look at sales statistics in the real estate world, we are looking at a few numbers. Closed sales and pending sales are the most important.

But before a home goes “pending” it needs to be shown to prospective buyers and it needs to have written offers presented.

The numbers of showings that a certain property receives and the number of offers it gets aren’t public knowledge and aren’t really tracked in any centralized database. Mostly we have anecdotal evidence and skeptics like those at the Seattle Bubble blog are justified in being skeptical when real estate agents talk about increased activity at open houses and such.

Last fall (October of 2009) I collected some numbers from some transactions I was involved in. Take a look.

*****************************************************************************************************

October 2009

In the past two weeks, I have been involved in 6 offers, though only one has gone “pending” at this point. Looking at these offers and how they were received by the sellers might hold some valuable lessons for us all.

Offer #1 – Home in Leavenworth
Offer #2 – Building lot / acreage in Wenatchee
Offer# 3 – Building lot / acreage in Leavenworth
Offer #4 – House in Leavenworth
Offer #5 -House in Leavenworth
Offer #6 -House in Leavenworth

All told the properties total asking price was $2,793,000.

I wrote 3 of the offers on behalf of my buyers. 1 was accepted by the sellers, 1 was rejected by the seller, and 1 is still being considered. The offers were written at 63%, 80%, and 85% of listing price. The 63% off was countered at 84% , but the buyer was only willing to come up to 79%. The 80% offer was countered by the seller at 92% which was accepted by the buyer.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Granted, these do not take into account the actual “market value” which may be quite different than the sellers perceived value and the listing price)

I received 3 offers on behalf of sellers I represent. These offers were for 65%, 72%, and 86%. The two lowest offers were rejected outright by the sellers without a counteroffer. The 65% offer did come up to 80% , but the seller was only willing to compromise at 88%. The 86% offer was countered at 97% which then was countered at 93% and then countered by the sellers at 96.7%. (However, this seller did just drop the listing price 17.5% the previous week.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What are the takeaways from this post? 

• There are buyers in today’s real estate market making offers
• Few Leavenworth sellers are desperate to sell at any price
• Very low offers will upset some sellers
• Sellers need to be prepared for low offers
• Sellers need to be flexible on price if they want sell in today’s market
• Buyers do not call all the shots in this market
• In 2010 houses are selling for 94% of list, how does your offer compare?