In an earlier post on Active Rain, I introduced you to Fish Lake just outside of Plain and Leavenworth, WA. This post is specifically about the real estate opportunities that can be found on Fish Lake.
Fish Lake is a smaller and more intimate lake than Lake Wenatchee. It is also mostly bordered by U.S. Forest Service land. The amount of private waterfront is very limited and even homes near the lake are hard to come by.
This is the last waterfront home sold on Fish Lake.
I sold it in May of 2005 for $470,000. In general, real estate in the Leavenworth and Lake Wenatchee area has been appreciating at 15 to 20% a year. Considering it has been two years since a home on Fish Lake has been available, I think the appreciation here has probably been higher. I usually tell buyers looking for a home on Lake Wenatchee to plan on spending at least $1 million. I don't think Fish Lake has quite reached that mark, but it isn't far off.
These two houses sold in the past year.
Neither of these homes were located on the lake, but both were within walking distance. The home on top sold in May of 2006 for $350,000. The other home sold in March of 2007 for $375,000.
If you are looking for a home on or near Fish Lake I have two obvious pieces of advice. Be patient and be prepared to pay a premium for waterfront.
If you have a home or lot to sell on Fish Lake or even nearby, you are sitting on some very valuable real estate. Please don't hesitate to contact me for current market analysis.