One of my favorite posts in the past few years was entitled Top 5 Ways to Shoot Your Leavenworth Condo Project in the Foot. I wrote it in hopes that it would save some developers heartaches and headaches, but instead I watched as more folks ignored the lessons and decided to take their lessons from the school of hard knocks.
In 2009 I had the opportunity to represent the Cascade Crest Condos in downtown Leavenworth. It has been great fun to practice what I preach. Five months after we first listed the condos we have sold or have under contract 5 out of the 6 units.
Allyson's reaction to our success with these units might flabbergast some local real estate agents. "We need more condo projects!"
"But Geordie, doesn't Leavenworth currently have YEARS of supply of unsold condos?" you gasp.
Indeed it does, but there is room for new condos in our market.
Here's what I think we need:
Patio homes: Basically a patio home is a duplex that functions as a condominium. Maple Terrace in Wenatchee was the first project like this in the area. I think that 3 bedroom, 2 bath ramblers 1500-1700 sqaure feet with a garage on Ski Hill would sell like hot cakes. We have gotten a lot of visitors at our condo open houses looking for such a product. These are more likely to be retirement buyers looking to downsize, but not interested in a 1000 square foot condo.
Lake Wenatchee Condos: If you want a condo at Lake Wenatchee, Kahler Glen is the closest you'll get. There is room for condos in the area that aren't at the golf course.
Stevens Pass Condos: We get people asking about Stevens Pass condos all the time. They also search for this term on the web and end up here. If you made a decent product and kept it under $400,000 for a two bedroom I bet you could sell some condos.
3 Bedroom Condos: These sold out quickly at Icicle Village Resort / Aspen Suites. No 3 bedroom condos are available at Haus Wunderbar, The Boulders or Cascade Crest.
What do you think? Does Leavenworth need more condos?
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