Leavenworth Washington Real Estate Blog

Leavenworth Real Estate Blog- Our New Home

2009-02-06T17:44:00.001-08:00

The Leavenworth Real Estate blog that has been hosted here has moved. Our new site is www.IcicleCreekRealEstate.com

We have taken the idea of the blog - constantly updated real estate articles , statistics, news, and opinions and melded that with real estate search functions. Our new site is filled with info about Leavenworth neighborhoods - Plain, Lake Wenatchee , Fish Lake , Ponderosa Estates , etc. We hope to be able to have all sorts of neat maps and lots of video.

The idea for a real estate blog came to me in 2005:

Here's what the first post looked like:

Friday, January 14, 2005

Brand New Blog

Welcome to my new real estate blog. This will be a great spot for me to talk about all the new and exciting things that are going on in the real estate market around Leavenworth and Lake Wenatchee Washington. Check back here often, there's sure to be something new all the time

At the time, the site name was pretty horrible. www.leavenworthwashingtonrealestate.blogspot.com. It took me a few years to change that to something more manageable - MyLeavenworth was a takeoff on MySpace and all the other Mysites at the time - it certainly was easier to type.

My blog has been a lot of fun (and a lot of work) - it has helped us meet all sorts of great people and gotten us some great press - from the NY Times to the Wenatchee World and the Spokesman Review.

If you have feedback about the new site, good or bad I'd love to hear it. Just shoot me an email: geordie at windermere.com

I have a bunch of new articles already in the pipeline:

Mortgage Roundtable - 5 real estate lenders discuss the challenges of getting a home loan in 2009
Appraisals are Useless

We also plan to be posting info on homes that have recently sold in Leavenworth and Lake Wenatchee on a monthly basis. That seems to be info that folks are really interested in and really isn't available elsewhere.

You can sign up to receive updates on our new blog by subscribing to the RSS Feed .

Or you can sign up to get the articles in your email .

FHA - Today's Best Mortgage Deal?

2009-01-08T11:18:00.000-08:00

Guest Post by Darel Ansley of People's Bank Home Loan Center in Wenatchee

Just about everything is in place to stimulate the housing markets, prices and rates are lower, and banks have money to lend. I think the only problem is the media has the potential buyers scared to come out of their bomb shelters to see if the coast is clear.

Here are a couple ideas to share with past prospects who never bought:

Read the rest of this post about Leavenworth FHA Loans at http://iciclecreekrealestate.com

Cashmere Real Estate in 2008

2009-01-08T11:10:00.001-08:00

While I feel good about the constant updates we have done about Leavenworth and Lake Wenatchee's market activity, we haven't done nearly as many real estate updates for Cashmere.

( We'll have to add "More Cashmere Real Estate News" to our to-do list for 2009" )

So let's get to it shall we, how did Cashmere's real estate market do in 2008?

2005 2006 2007 2008

Total number of houses for sale 102 93 106 114

Total number sold 67 50 41 34

Average price 198 278 291 259

Median Price 180 235 238 238

*These numbers are for single family homes. Only 1 condo sold in 2008 or 2007.

What do these numbers mean? Click Here to See the rest of this article on Cashmere Real Estate

Leavenworth Real Estate 2008 Review

2009-01-06T09:37:00.001-08:00

2008 has been a rough year. The stock market lost nearly 40% of its value and real estate values nationwide have taken a hit as well. (At the end of November, national home prices were down 13% from the same time in 2007.)

In January of 2008 I was able to report that average home prices had climbed 18% despite a drop in the number of homes selling.

Here is what I predicted for 2008.

What will 2008 bring to the Leavenworth real estate market? I think much depends on external forces. What will the U.S. economy do? How will the stock market fare? How will the technology companies like Microsoft, Adobe, and Nintendo do?

I tend to think we will see a slight increase in prices with longer market times and about the same number of homes sold in 2008 as in 2007. (Check back in January 2009 to see if I'm right.)

Well, I guess I was right to couch our market in relation to the stock market. If I had seen that coming, I would have pulled out some investments and stuck the cash under my mattress.

How did I do in relation to volume, market times and prices?

Number of Homes Sold in Leavenworth

Only 98 single family homes sold in Leavenworth and Lake Wenatchee in 2008. This is down 20% from 2007. (124 homes)

Leavenworth Home Prices

The average home price in the Leavenworth area dropped in 2008 from $415,000 to $389,000 or 6%. However, the median home price in Leavenworth went up 2% from $342,000 to $350,000.

Does that mean home prices went up or home prices went down? I think it means that Leavenworth home prices stayed stable in 2008 which is a great consolation considering the alternatives.

(Delving into the numbers, it looks to me like the decrease in average home prices is mostly a reflection of lagging luxury home sales in Leavenworth. Fewer homes sold above $500,000 in 2008 and they sold for less money. There were also three properties that sold for above $1 million in 2007 that really weren't residential properties but rather commericial buildings or development opportunities.)

How long does it take to sell a home in Leavenworth?

In 2007 the average home took 139 days to sell. In 2008 that number bumped up to 145. I guess I was right on that one.

How about 2009? What are your predictions for the Leavenworth real estate market?

Leavenworth and Lake Wenatchee Ski Report

2008-12-19T15:31:00.001-08:00

Winter is here, Christmas is around the corner, and everyone wants to know... Is it ski season yet in Leavenworth?

It depends on who you ask.

Here is the round up of local ski areas from West to East.

Stevens Pass Ski Area

Stevens Pass opened the lifts on Thursday December 18th for the 2008-9 season. You can get current conditions and webcams at www.stevenspass.com

Allyson and I have seasons passes at Stevens so if you see a hotdog skier dragging some long legged bumbly on telemark skis through the bumps, come say hi.

Stevens Pass Nordic Ski Center

Stevens Pass Nordic Center is opening their trails on Saturday December 20. They have 30" as of this morning and more on the way. Generally they are open Thursday-Sunday, but all week through the holidays.

Lake Wenatchee State Park (and Kahler Glen)

I got an email from the park on Friday afternoon.

The snow is falling and it's time to start thinking about winter recreation. As of today, Lake Wenatchee has received 22" of very dry snow, which has settled down to the current depth of approximately 12". The snow is too thin and dry for machine grooming at this time. We did try some limited "track packing" in the North Park today, but were occasionally catching roots and rocks (potentially damaging to the equipment) and found that the dry snow will not pack sufficiently. Until we receive more snow (forecasted for late Sunday), users can ski, snowshoe, and sled on all ungroomed surfaces. The park is accessible, with plowed roads and open restroom facilities. Sno Park Permits will be required beginning this Saturday, December 20th. If you want to get email reports from Lake Wenatchee State Park send a message to EAWENA@PARKS.WA.GOV

Leavenworth Mountain Sports Club (Leavenworth Ski Hill, Fish Hatchery, et al)

The club's Icicle River Trails opened today with the Ski Hill opening tomorrow. The golf course still needs more snow. You can check their website for the most recent info on local ski conditions.

Mission Ridge

Mission Ridge ski area had a limited opening last weekend. They made quite a bit of man made snow and certainly this weekend's storm should help them open some more trails. www.missionridge.com

Leavenworth Condo Auction - Update

2008-12-13T14:00:00.001-08:00

Leavenworth had its first auction for condos on Saturday December 13 for the Riverpark Homes located on Main Street. Simultaneous bidding occurred in Leavenworth and in Kenmore. Approximately 50-60 people were on hand in Leavenworth, though most were local agents, builders and looky loos. There were perhaps 10 buyers in Leavenworth. Click here for an update on the Leavenworth Condo Auction to see the sold prices and a short video.

Leavenworth Condo Auction

2008-11-29T10:14:00.001-08:00

As I have mentioned before, Leavenworth has an abundance of new condos and I think Leavenworth condo developers have made and continue to make a lot of mistakes. The most recent news in the Leavenworth condo market is the upcoming auction of the Riverpark Condos in downtown Leavenworth. Read all about the Leavenworth Condo Auction .

Special Event this Weekend Nov 8+9

2008-11-06T18:24:00.001-08:00

Looking for something to do in Leavenworth on a rainy day? Come visit me at 8920 Icicle road this weekend. Allyson and I will be hosting a Grand Opening for this newly constructed masterpiece on the Wenatchee river.

This incredible home features 4 bedroom suites and a total of 6.5 bathrooms. Massive cathedral windows show off a fantastic river view and also up Icicle Ridge. A grand rock fireplace is a centerpiece of the great room. Other luxury features include a library, exercise room, wine cellar, and media room or home theater. The gourmet kitchen features slab granite countertops, alder cabinets and a Wolf gas range.

Allyson and I will be at the house from 10 am to 4 pm both Saturday and Sunday. Please do come stop by.

Click here for a virtual tour of this fantastic home. (Photos used in tour are from during the construction process)

Leavenworth Real Estate Update - 3rd Quarter of 2008

2008-10-10T16:42:00.000-07:00

Leavenworth home prices certainly have backed off from the great increases the area saw in 2007, but we have been lucky as of late to avoid the price drops that Seattle and King County have seen and that Wall Street has seen in the past two weeks.

The chart above shows what looks like a huge price drop - over $100,000 compared to the 3rd Quarter of 2007. However, the median price shows a much smaller drop. This tells me that the homes that aren't selling are the homes in the uppermost ranges of our market. The chart below shows the same market from a different angle.

This chart shows home prices in Leavenworth for the 1st three quarters of the year. So far this year, median prices are up compared to last year almost 3% and average prices are down 7%. (Since 2005 the median price for a home is up 9% and the average price is up 7%) Are Leavenworth home prices up or down this year? I guess that depends on what metric you prefer. More importantly it depends on what neighborhood you live in and what kind of home you have.

This last graph shows the activity in the marketplace during the 3rd Quarter. These are the number of single family homes in the entire Leavenworth area including Lake Wenatchee, Plain, Stevens Pass, Kahler Glen and Peshastin. The good news is that the number of homes on the market hasn't spiked. That means that we didn't overdevelop during our boom time and it also means we don't have a huge number of folks being forced from their homes by foreclosures or interest rates increasing on sub-prime mortgages. The bad news obviously is that we aren't selling as many houses as we have in past years. I am amused by my comments at the end of 2007:

I tend to think we will see a slight increase in prices with longer market times and about the same number of homes sold in 2008 as in 2007. (Check back in January 2009 to see if I'm right.)

Well, I guess I was wrong about the number of homes sold and maybe even about prices. Certainly the stock market and public opinion about the state of the economy plays a huge role in the direction that Leavenworth real estate will take.

Chiwawa River Pines - Vacation Rental Ban Update

2008-10-02T12:46:00.000-07:00

The Chiwawa River Pines neighborhood has recently voted to enforce a covenant that bans vacation rentals in their neighborhood.

According to Al Lorenz of the NCW Real Estate Blog (who is also a board member at Chiwawa River Pines), the neighborhood recently voted to allow "Long Term, low impact, service oriented businesses" and "long-term, residential rentals for a period of more than six (6) consecutive months".

They are no longer allowing "short-term residential rentals for a period of less than six (6) consecutive months"

Click Here to read more of my insight about the Chiwawa River Pines Rental Ban

Opposed to Bailout

2008-09-29T21:11:00.000-07:00

I have had a lot of high level finance discussions in the last few weeks with my colleagues and clients throughout the Leavenworth and Wenatchee area. The one positive thing I can state is that for the first time in many years, I am finding agreement between liberals and conservatives: everyone seems to be against the taxpayers bailing out Wall Street.

I am mostly asked about the things in relation to the impact to our local economy and local Real Estate market. Here is my top-down view: First, I was amazed to hear a so-called expert on the radio today state that this really wouldn't cost the taxpayers any money, because in a few years, these $700 Billion worth of investments will turn profitable, and the federal government would come out ahead. I firmly disagree: If these are investments that will be profitable in a few years, then they are truly assets and would be valuable to lots of people.

In case people have forgotten, in the Spring of 2007, Bear Stearns tried to package up a bunch of these investments and offer them up as a new stock in an IPO (Initial Public Offering). It was shot down faster than a scud missile. Nobody wanted to buy that junk. Now it would have sold at some price, but they didn't want to be forced to disclose the true market value of the stuff they were reporting in their annual report. (Does anyone remember Enron).

Here is the best solution to the current problem- instead of selling these things to the American public, lets have them put the assets out on the open market. They aren't completely worthless; they are backed by mortgages, not all of which will default. So there is a certain cashflow stream that can be estimated for these investments. I say offer these things up and let the free market decide what they are worth, and let them be sold and taken off the books of these offending firms. If the net value of a company drops when it only gets $10 Million for something they listed on their books at $100 Million, so what? Will some go bankrupt?, Sure. That is the risk they took when they made these investments.

Oh we of short memories; take a look at this 2006 year end article which not only shows the record bonuses paid out to all employees of these firms ( average bonus $137,000) but also says "Bear Stearns and Lehman Brothers set records for profits." No where have I heard those names recently?

So here is my prediction of impact to Leavenworth Real Estate: If the Presidential pardon passes, the stock market rallies for a month or so until the cost of the program is financed with the issue of government securities. The glut of securities in the simple free-market supply and demand equation drives down the price and drives up the interest rate on debt. Now interest rates have risen to where it costs real companies more to operate, and profits decline, sending the stock market back down. So all the money spent and we still end up with a recession, and now the new President has no money left to finance a decent energy program. The Leavenworth buyers who are typicaly from Puget Sound, will find themselves facing higher interest rates to buy 2nd homes, and also some economic uncertainty within their professions and their 401-Ks, causing them to look at a second home purchase as "a little risky right now".

If we go ahead and let the companies take their lumps, certain ones will fall, other pulled down by the dragging stock market will become huge buying opportunities and investors will be able to buy in at some great prices. The Arabs and Chinese who have a lot of money to invest will find someway of getting it to those who want to borrow; either directly, or through government bonds again. We have a global economy, and that money will flow. Letting these companies fail will not lead to a depression, except perhaps in the households of those who earned the $137,000 bonuses.

So in terms of Leavenworth Real Estate, the financial markets would recover faster, companies will be able to borrow more cheaply and keep peoples jobs, 401-Ks will rise faster, and the country can get behind the next President and start feeling positive about their future. And for many Puget Sound residents, part of a positive future could be an awesome vacation home in beautiful Leavenworth.

I think we are all grown up enough to know that either choice is going to require a little pain. At least from my Eastern Washington perspective, I 'd much rather go with the free-market medicine than the stuff the government is cooking up.

Leavenworth Oktoberfest and Autumn Leaf

2008-09-26T09:18:00.000-07:00

Labor Day may signal the end of Summer, but Fall is just the beginning of the big festivals in Leavenworth.

The end of September bring us Leavenworth's oldest festival - the Washington State Autumn Leaf Festival. The highlight of Autumn Leaf is a parade through the town with floats and groups from all over the state. Of course there will be plenty of folks in traditional dirndl and lederhosen too - local Swiss, Austrian, and German groups always seem to have a presence in the parade. This year the parade is on September 27 and begins at noon. I am a big fan of Scottish pipe bands like the Greater Victoria Police Pipe Band, but there will also be traditional German bands and even Kerry Christiansen, Master Yodeler. Click here for the full schedule at this year's Autumn Leaf Festival in Leavenworth.

More famous these days, is the larger Oktoberfest, which is modeled after the traditional German Oktoberfest and is getting closer to the famed event in Munich every year. This years Oktoberfest in Leavenworth is the first 3 weekends in October.

Oktoberfest is really about the beer, and Leavenworth's festival is no different. Each Saturday at 1 pm Mayor Rob Eaton will ceremoniously tap the beer keg. Breweries sponsoring the event include :Warsteiner, Paulaner, St. Pauli Girl, Bitburger, Alpine Brewing Co. and Ayinger.

The three venues will be the FestHalle, the Tanz Halle and the Bier Stube.

The first entertainers take the stage Friday October 3rd. A full Oktoberfest schedule for 2008 can be found here.

Leavenworth has also worked hard to make it a kid friendly environment, despite all the beer drinking. I have always loved seeing the kids get excited about the German bands and all the dancing. Who doesn't love the Chicken Dance? Additionally, there is a Kinderplatz set up with a climbing wall, clowns, and all sorts of bouncy toys for the kids with aversion to lederhosen and accordians. There will also be a parade each Saturday at noon.

Leavenworth and Lake Wenatchee - Be Bear Aware

2008-09-26T07:02:00.000-07:00

Lake Wenatchee and Leavenworth residents need to be extra careful about black bears this fall according to a recent article in the Wenatchee World. More bears are being seen in the local area this year and it appears it is due to a lack of huckleberries in the mountains.

Each summer in the Cascades, bears go through a period of hyperphagia starting in August and September. Bears are trying to eat as much as possible to store up fat and energy for the upcoming winters hibernation. In some parts of the world, bears get their nutrients from fish, but in the Cascades huckleberries and blueberries (we have 7 types of vaccinium in the Northwest) provide much of these nutrients. It appears that a hard frost in the spring damaged this year's berry crop.

Without berries to feed them, bears have to get their food someplace else. This often means more contact with humans. This leads to bears in garbage cans, bears in orchards, bears at birdfeeders, or even bears in houses! This summer we have lots of reports of bears near Lake Wenatchee and bears in neighborhoods near Coles Corner.

“Don’t feed the bears – it’s been said many times before, but that’s still the most important advice we can offer,” said Capt. Bill Hebner, who heads WDFW’s regional enforcement activity in northern Puget Sound. “Most bear problems begin with people feeding them, either intentionally or unintentionally.”

This fall residents and visitors to Leavenworth and Lake Wenatchee need to be more vigilant of bears for their safety and ours. You will probably see bears on the highway - this summer Allyson stopped for a cub on Highway 2 in Tumwater Canyon and I saw one near Nason Creek on Highway 207. You may see bears on the golf course. Please think about food sources at and around your house or cabin. Don't leave garbage cans out for the bears to get into.

Short bit of vulgarity in this video - mute if you are likely to be offended.

Black Bears On Deck In Springtime Alaska - video powered by Metacafe Washington State Department of Fish and Wildlife Offers these tips for living with bears:

Never intentionally feed bears or other wild animals.
Keep garbage cans in a garage or another secure area until collection day.
Remove pet food from areas accessible to wildlife.
Thoroughly clean barbecue grills after each use.
Take down birdfeeders until later in summer.
When camping, keep a clean campsite by thoroughly cleaning all cooking utensils after use and sealing uneaten food in airtight containers stored in bear-proof canisters away from sleeping areas.

In the event of an actual encounter with a bear, WDFW offers the following advice:

Don’t run.
Pick up small children
Stand tall, wave your arms above your head and shout.
Do not approach the animal and be sure to leave it an escape route.
Try to get upwind of the bear so that it can identify you as a human and leave the area.

WDFW encourages those who have a dangerous encounter with wildlife to call the Wildlife Hotline at 1-800-477-6224. More information on living with black bears is available on WDFW’s website at http://wdfw.wa.gov/wlm/game/blkbear/blkbear.htm.

Leavenworth Summer Real Estate Update

2008-08-23T10:54:00.000-07:00

Where has the summer gone?

Allyson and I have been really busy this summer with all sorts of exciting projects. I'll try to highlight some of them here, but I've also added a widget on the sidebar for anyone who wants a play by play of what I'm up to. If you have a Twitter account, you can follow me here.

The latest project is 5 new lots at Kahler Glen that we are representing. These lots are on Kahler Drive which is the right turn when you come into Kahler Glen past the condos. You can see more about these Kahler Glen properties here. If you are looking for a nice neighborhood near Lake Wenatchee, Kahler Glen might be for you. It is a mix of condos, townhomes, and houses located on the golf course surrounded by forested hills. In addition to our lots, there are a few condos and some other lots available too.)

In the last week it seems like a number of buyers have come back to the table. This fall might be the turnaround we have been hoping for. I've been getting calls, emails and visits from folks who I haven't heard from in a year or more.

Other exciting listings include:

A classic older home in Leavenworth with an additional lot

A Steven Pass Ski Cabin near Coles Corner for under $200,000

Building Lots out Merry Canyon, above Plain, out Coulter Creek, and up Eagle Creek

A Large Home Zoned for Commercial Use in the Heart of Downtown Leavenworth

A Green Built Home on 1 acre on Icicle Road near Sleeping Lady

Two gorgeous Wenatchee River Homes: A very Modern Redwood Showcase, the other a Large Lodge Style Home currently under construction

An amazing Two bedroom Getaway on the Chiwawa River

What have you been doing with your summer? Drop us a phone call or an email to say hello.

Leavenworth Homes for $300,000

2008-08-09T14:11:00.000-07:00

Answer: 19

Question: What is the number of single family homes on the Leavenworth market between $200,000 and $300,000.

A move up in price range brings a dramatic increase in the number of available listings. From my previous post, the number of listings under $200,000 was 4. There are now 5 active listings since Geordie just listed a Ski Cabin for $199,900.

The current number of listings between $200K and $300,000 is 19. Ten of those listings are within the city limits of Leavenworth and 9 are in the surrounding areas. Of the city listings, 6 of those are older homes built between 1900-1920. Two were built in 1950’s and 2 in the 1990’s. These are typical entry level in town homes that usually need updating/repairs or are on very small city lots—30 feet across the front.

The other 9 listings are all cabins. Four of them are in the Ponderosa Estates Community, 1 in Chiwawa River Pines, 3 in the Lk. Wenatchee area and 1 up Hwy 97 in Valley Hi.

Nine of the 19 listings have experienced price reductions, and 1 a price increase. The average days on market is 93, however some of these listings are re-lists and actually have much longer market times.

There are currently 2 pending sales. One is a home about a mile up the Chumstick that has been on the market since last year pending at $280,000 (original list price $349,000). The other is a cute A-frame in Ponderosa pending at $209,500.

In the past year there have been 24 closings in this price range. Eight of the homes were in town and 16 were out of town cabins. Interestingly, 20 of these listings sold for under list price. Seven of those 20 had already had a price reduction and then sold for under the reduced listing price. Only 4 of the 24 sold for asking price and two of those had been re-listed at a lower price. While statistically the ratio of sale:list price is 96%, I was surprised by how few actually sold for asking price.

Looking at months of inventory supply in the two differing categories of town and cabins, there is a significantly greater amount of supply in town. There is currently 15 months of supply of in town homes and a seven months supply of cabins. Not surprisingly, western Washington buyers looking for cabins continue to be the bulk of business in the Leavenworth area.

Leavenworth Home Sales Question

2008-08-04T17:31:00.000-07:00

Mark wrote in with a question about Homes Sales Data

Hey, Geordie –

Here’s a question I’ve been wondering for a while. This might also be something that many other of your customers wonder about, so might be a good blog article topic, unless this is a big can of worms (or just a plain silly question).

Here’s the question: Why is home sales data in Washington not easily and readily available to the every day consumer?

Over 4 years ago, we moved to Washington from Los Angeles County. In L.A., prior home sales data was available to the public. You can find some information at the LA County Assessor’s site here - http://assessor.lacounty.gov/extranet/DataMaps/Pais.aspx, and even better information from the LA Times home sales prices here - http://www.latimes.com/classified/realestate/transactions/la-re-dq-intro,0,6689802.htmlstory. Granted, this information is not completely thorough, nor completely current (the most recent sales data I could find in the LA Times search on our old neighborhood was 7 months old).

Still, I wonder why home sales information like this isn’t readily available to anybody here in WA state? If it were, would it really reduce people’s reliance on real estate professionals? I have to doubt it. Just having this information easily accessible is not going to be a primary factor on whether or not somebody is going to go the FSBO route.

In our case, having purchased a vacation home in Chelan county, we would simply like to keep informed on sales prices of comparable homes in our neighborhood and surrounding area. As you know, there is currently a home on the market in Ponderosa that was built by our same builder, is roughly the same size, floor plan, etc. as ours, and it is currently on the market for a selling price that is higher than what we paid for our place a year ago. I’m very curious to know what the final sales price is when it sells, but as far as I can tell, there is no publicly available information in Chelan county (or King County, for that matter), where I can find this out.

Why not?

Thanks as always for your insight.

Quick follow up … my wife reminded me that this information is publicly available in King County, from the county assessors web site (after doing some mildly confusing searches on a specific address or parcel number). Still don’t know of a broader database search in King county, but you can get targeted home sales info on the assessor’s property tax site.

Mark-

This is a great question. I think the simple answer is that it takes staff and resources ($) for local governments to digitize information. Whether this is zoning maps, Assessor's sales information, or recorded septic site designs, we have had a challenge with getting local governments to make the leap into the digital age.

Douglas County , which is the home of East Wenatchee and just across the Columbia River from Wenatchee, has been able to post their sales info for easy use for a number of years now.

Chelan County hasn't gotten to that point yet and I haven't heard grumbling about it yet. Most of the grumbling here has been about increased tax assessments .

Chelan County has created a decent mapping product. This is open to the public and has all kinds of data. This includes zoning, steep slopes, flood zones, and ... if you know how to use it... sales data. I will warn you that the sales data is incomplete and the program is pretty awkward.

If you really want to know what a home sells for there are two easy ways to find out - call me. If I can get that data, I'm happy to share it. OR call the Chelan County Assessor. (509) 667-6365.

Once it has recorded, the sales price is public knowledge. Recent sales are also listed in the Wenatchee World newspaper and in the Wenatchee Business Journal, though I don't expect either to have the data online.

On the private side there is Zillow. Zillow uses algorithms to take public sales data to create Zestimates about what your house is worth on any given day. There has been much talk about this on the blogosphere over the years and most end with warnings about the inaccuracy of an estimate that isn't based on a real person coming and looking at your house. Anyhow, Zillow works pretty well in places like King County, but not in our neck of the woods.

To this day there are no Zestimates for Douglas or Chelan Counties, only Houses For Sale listed by real estate agents and For Sale By Owners. (You will also notice the Make Me Move price which is an interesting idea. Much better than a sign in the yard from a seller not really interested in selling.) Zillow of course, is waiting for good data from the counties, without the data, they can't do much either.

Leavenworth 1031 Tips

2008-08-04T15:43:00.000-07:00

Most investors understand the tax benefit of structuring a 1031 exchange, whereby an investor trades one property for another without having to pay capital gains taxes. In an ordinary sale transaction, the investor is taxed on any gain realized by the sale of the property. But in an exchange, the tax on the transaction is deferred until some time in the future. In an exchange the investor, instead of receiving cash from the sale of his investment property, assigns his or her rights to the old relinquished property sale proceeds to a Qualified Intermediary (QI). From the date of closing the relinquished property, the QI holds the funds in a qualified exchange account while the investor must identify new replacement property within 45 days. Then, within 180 days of closing the relinquished property (Exchange Period), the QI funds the purchase of the new replacement property to complete the exchange.

In some cases, investors (taxpayers) will carry back a Note instead of cash as consideration from the buyer. However, taxpayers should be aware of the“like-kind”requirement in a 1031 exchange, meaning that a taxpayer may only receive property that is“like-kind”in nature and character to the property that was sold. Thus, a taxpayer who sells real property is only allowed to receive real property in exchange. If a taxpayer receives a Note or cash in an exchange of real property, this does not meet the like-kind requirement and the taxpayer will be liable for capital gains taxes for the Note or cash received.

If you or your client are having difficulty locating quality replacement property, consider the TIC interest. It could be just the type of product to fit your investment portfolio.

Where a taxpayer is considering financing the buyer’s purchase of the relinquished property
and the taxpayer had planned to structure a 1031 exchange, a taxpayer should consider the following options:

• The taxpayer may take back a Note for all or part of the buyer’s purchase price. The taxpayer qualifies for installment sale treatment on the Note, which in effect spreads the taxation of the gain over the life of the
Note.

• Include the Note as part of the exchange by naming the QI as payee of Note and beneficiary of deed of Trust/Mortgage.

The QI may either:

Assign the Note to the Seller of the Replacement Property as partial payment towards the purchase price;

or Sell the Note to a third party for cash, and the cash proceeds are added to the existing qualified exchange account;

or Sell the Note to the taxpayer for cash during the exchange period and use the Note proceeds towards the replacement property purchase.

If the taxpayer is unable to locate a purchaser for the Note by the end of the exchange period, the QI will assign the Note to the taxpayer and the taxpayer will be liable for any capital gains taxes due on the Note. Taxpayer qualifies for the installment sale treatment for the life of the Note.

The content is general in nature and should not be acted upon without further guidance from your tax counsel.

Compliments of LandAmerica 1031 Exchange Services
Author: Michelle Rojas, Esq. VP & Northern Region Manager of LandAmerica 1031 Exchange Services

For more details any questions about 1031 Tax Exchanges please contact:

Ann McLaren, Vice President
3905 Martin Way E, Suite A
Olympia, Washington 98506
(866) 962-1031 toll free cell
(866) 623-1031 toll free fax
(866) 379-1031 toll free 1031 Team
amclaren@landam.com

Lake Wenatchee Leased Property Owners Take Note

2008-08-04T15:40:00.000-07:00

Owners of cabins at Lake Wenatchee that sit on U.S. Forest Service leased land might want to pay attention to current action that the National Park Service is considering at Lake Roosevelt. The NPS is studying whether or not to terminate leases on 26 vacation cabins on government land at the lake.

As many folks have heard, the USFS is expected to raise the leases on Lake Wenatchee cabins to $15,000 or more based on appraisals and sales of nearby property.

Let's do the math. $150-200,000 cash payment for the cabin, $15,000 a year in leases = no equity? It doesn't really make sense does it?

I really think consideration should be given to Mark Moburg's idea that he floated in the online comments of the Wenatchee World.

My family has had a cabin on leased land on the North Shore since the late 1800's or early 1900's, plus two others on land we own. My great aunt owns the original family place now, and at 107 years old, there's no way she can afford $15 or 20 thousand a year.

While it might have made sense for the Gov't to lease the land 100 years ago in order to "keep it as natural as possible," as far as Lake Wenatchee goes that train has left the station. It's a ridiculous justification in view of Kahler Glen, Stellerwood, Whispering Pines, and all the McMansions lining the lake. Time to move on.

The time has come for the Forest Service to explore the possibility of selling these properties at market value, with current leaseholders having the right of first refusal. The article states that there are 45 cabins on leased land. Assuming (and I know it's a big assumption) that they're lakefront, and based on current prices for properties on the lake, these cabins would sell for around $750,000. Times 45 is over $33 million that the Forest Service could use, perhaps to buy large tracts of old-growth timber or other environmentally-sensitive land.

What you can buy in Leavenworth for $200,000

2008-07-23T14:02:00.000-07:00

"Real Estate Jeopardy":

Catagory: Leavenworth Homes for $200,000

Answer: 4

Question: What is the number of single family homes in Leavenworth for under $200,000?

Currently there are four homes on the market. One is a small cabin in the Ponderosa Estate neighborhood. The other three are all cabins on Lake Wenatchee. While these last three sound great, there is a catch. The cabins are on US Forest Service lease land. This means you do not own the land and you must pay the Forest Service a yearly lease fee. Historically these fees have been relatively low, however with new county assessments these fees are going up. By one estimation in the year 2011, the fee will be $16,000/yr. The lease contracts have also been shortened to 5yrs, down from the 20yrs they used to be.

You also must get clearance from the Forest Service to do any exterior improvements or additions. The homes have been on the market for several summers and the price of them are the lowest they have been, with two of them priced at $119,000.

In the past year, seven homes have sold under $200,000. They were either one or two bedrooms, .75 or one bath (although one house did not have a bathroom), and all were under 1,000sqft.

There are currently three pending sales in this price range. One is small cabin, 649 sqft, in Ponderosa Estates backing to the high voltage power lines. This one is pending at $99,000. There is a 720 sqft home in Leavenworth on a .04 acre lot pending for $199,000. The last is a dome home on Lakeview Dr with a peak-a-boo view of Lake Wenatchee on .96 acres. The unusual nature of this home is the reason for the low pending price of $199,000.

Stay tuned as Real Estate Jeopardy continues…

Leavenworth Condo Update - Spring 2008

2008-07-22T08:49:00.000-07:00

Condominiums sales in Leavenworth continue to be the talk of the town. We have a number of new condo developments in all stages of construction or conception.

So far this year, Leavenworth condo sales are doing much better than 2007 in terms of number of sales and in increase in sales price. In the first half of 2008, 10 condos have sold compared to 5 last year. This continues the trend we saw in the 1st quarter condo sales.

The talk of the town is the number of unsold condos. I wrote a fairly opinionated article with advice for anyone building or selling new condos Leavenworth and I still think that advice holds true. A failure to react to market conditions and consumer needs has lead us to the oversupply of condos that we have today.

Currently there are a total of 69 condos on the market according to the NCW MLS. (This does not include a dozen or so condos at Icicle Village Resort / Aspen Suites and underrepresents some projects like Cascade Crest and Blackbird Lodge.) The average list price is $407,000 compared to this year's average sales price of $317,000 (Only 4 condos have EVER sold above $400,000 in Leavenworth according to my data.) Only 1 condo in Leavenworth is under contract or pending right now!

Updates on Leavenworth Condo Projects

Ski Blick aka Ski View (Titus Road) - Two condos have sold here. A 2 bedroom sold for $419,000 and a 3 bedroom unit sold for $460,000. These are selling at 7% below list price. 21 units remain unsold, with no pending sales.

Haus Wunderbar - 7 of these units are back on the market. These are the units across the street from Gustav's on Front Street. Prices range from $499,000 to $725,000. These were originally to be finished in Spring of 2006, yet not all of the units are complete today.

Riverpark Homes - The sellers are working on making these available for fractional ownership. These are not time shares, but a divided interest in the real estate. Is this something that Leavenworth buyers are interested in?

Cascade Crest - These are the condominiums that stand where Dr. Larson's dentist office used to sit on Division. They have just been listed and 2 bedrooms start at $519,000. They have currently have covenants that prevent overnight rentals even though the zoning allows it.

Boulders - Only one of the six of these riverfront condos on Alpensee Strasse have sold. The prices have recently been lowered to $595,000. It is their second summer on the market.

Icicle Junction - Aspen Suites

These condos are not currently listed on the MLS, but they do continue to sell. They have pretty good financials if you are looking to own a vacation rental. I would be happy to provide you with the numbers. New construction 2 bedroom units are selling for about $300,000.

Sonnenterrassen - These 8 condos are slated for Commercial Street and include 1, 2, and 3 bedroom units ranging from $250,000 to $800,000. The website says they will be available in 2009, but it does not appear that construction has begun.

Obststadl - Construction is slated for 2011 and negotiations are still being held with the City of Leavenworth about a land swap / sale. This is the fruit barn project which is slated to have approximately 120 luxury condos.

Blackbird Lodge - 43 condos are slated for completion in the Fall of 2009. 1, 2, and 3 bedroom condos will be available starting at $289,000 for a 1 bedroom unit. I don't believe that construction has begun at this point.

Alpine Place - There are six older 2 bedrooms in two different associations here off of Icicle Road. Both 2 and 3 bedrooms are available from $230,000 to $250,000. I think these offer some of the best values today in Leavenworth condos.

Kahler Glen / Natapoc One Natapoc townhome recently sold for $437,000, a 2 bedroom condo sold for $325,000 and another two condos are currently on the market. This is the most condos for sale at Kahler we have seen for a while.

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Search for all Leavenworth Condos for Sale

What is my Leavenworth Condo worth today?

Leavenworth Real Estate Update - Spring 2008

2008-07-07T16:06:00.000-07:00

Leavenworth home sales have finally begun to become affected by the economic realities that surround us. Readers of this blog have no doubt seen the dollar tanking, oil prices surging and the stock market diving - even a little more so as the second quarter of 2008 came to a halt.

While the beginning of the year was kind to Leavenworth home sales, the Spring Quarter showed us that the Leavenworth and Lake Wenatchee market is not immune to outside pressures.

The number of homes on the market this Spring has far exceeded past years. Currently there are 135 homes for sale which is the high point reached at the end of last summer. The green line on the chart shows the total number of single family homes that were for sale at any point during Spring 2008. Sellers seemed to keep their homes off the market this winter, but put them on the market this spring in record numbers (the purple line).

The yellow line shows the number of houses that sold between April 1 and June 30 2008 in Leavenworth and Lake Wenatchee. This number is down significantly - down 45% from a year ago and 53% from the high in 2006.

When the purple and yellow lines are close together it means we have a sellers market. The homes being placed on the market are being sold. When they diverge it means we have a buyers market and we see the green line climb (assuming other sellers keep their homes on the market.)

The downturn in activity has effects on the appreciation of home prices. Both average and median home prices in Leavenworth have decreased from the second quarter of 2007. While the headlines might scream "prices drop", I think "prices flatten" or remain stagnant is a more apt description.

It's also helpful to look at the overall gain over the past four years. Median home prices are up 55% or 13.75 % per year while the average home price is up 38% or 9.5 %.

Anecdotally, I think demand remains high. Allyson and I are working with a number of qualified buyers and traffic on our websites is higher than ever.

Demand, unfortunately, is not the same as urgency. Buyers in Leavenworth have often taken their time finding the perfect vacation home or condo, and the current conditions are keeping buyers wary. Economic uncertainty is difficult and we are surrounded by it. When new listings continue to come on the market daily, buyers refrain from purchasing the less than perfect home.

Competitive pricing of your Leavenworth home and staging it for perfect presentation is key in this market. Home sellers who are fishing for a seller, but not motivated to sell, will not likely find success.

For buyers looking for a great deal, there usually are some to be had in any market. Leavenworth remains a very popular vacation spot and no one's giving anything way. My past article about finding a deal in Leavenworth real estate is probably a good primer for bargain hunters.

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Click Here to Search all Leavenworth Real Estate

Click Here for the latest Leavenworth Condominium Statistics

Click Here to find your Leavenworth Home's Value

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UPDATE : Click here for a Fall 2008 Leavenworth real estate update

Leavenworth Blog Update

2008-07-05T15:03:00.000-07:00

Leavenworth Blog Update

A Leavenworth real estate blog? Three and a half years ago, I think people thought I was a little nuts to start blogging about Leavenworth and the local real estate market.

As blogging has become more popular every year, the local blogosphere has become a little more populated as well (though far from crowded and not quite a community either.)

In addition to me and my cohorts here at the original Leavenworth real estate blog, there are 3 other blogs that I know of that are focused on real estate in the Leavenworth area.

Wenatchee area superblogger Carol Williams runs the Leavenworth Condo Blog. With all the new construction projects going on in town, and the multitude of choices in Leavenworth Condos, we certainly could use a blog devoted to the Leavenworth Condo scene. Unfortunately, this blog probably isn’t it. Carol is more of a Wenatchee specialist and her condo blog is more a brief rundown of condo stats than an insider’s view of the condo scene. If you are expecting something like Ben Kakimoto's Seattle Condo Blog or Kevin Tomlinson’s Miami Real Estate Blog, you are likely to be a little disappointed. Her last post was in December and last year there were only 7 posts total. (Of course, I heartily endorse Carol’s Wenatchee Real Estate Blog which is a clear leader locally.)

Rookie real estate agents, Blaine and Erin Davidson, run the Leavenworth Estate Blog. This blog is mostly generic homeowner (or home seller or home buyer) tips. Wenatchee World articles dealing with local real estate stories are also included. Unfortunately, there isn't any commentary or advice specific to the Leavenworth real estate market, based on their experience. They also have a Wenatchee Blog with a similar feel. I applaud them jumping into the blogosphere, but their content still lacks the personality one expects to shine through in a blog.

Next up is the blog over at Sam Ernst's LeavenworthLeavenworth Blog. (This is the same content as the Prudential Mike West Blog.) This blog seems to have its up and downs, but is my favorite of the three. I enjoy reading Mike West's reminiscing about his long tenure in the local real estate market. His recent post about "Inventing" the Leavenworth Vacation Rental was pretty enlightening. Much of the content here is pretty "rah rah" cheerleading stuff about "now is the perfect time to buy", but maybe that will subside at some point. My biggest beef is that they don't seem to allow comments. I have tried to add to the discussion a few times and they haven't approved a single comment. (If you don't allow comments, it's not really a blog, it's a website and an oldfashioned web 1.0 one at that.)

Al Lorenz's NCW Real Estate Blog is also pretty new to the scene. Al is a Chelan area real estate agent, but he blogs about the Wenatchee area and Leavenworth too. Since he has vacation property in the Chiwawa River Pines neighborhood, he can be a pretty good source of info for the Lake Wenatchee area. For a new blog, he really seems to understand the medium and has done a great job.

Lake Wenatchee Info isn't a real estate blog, but it is a great source of Lake Wenatchee info. I seem to be linking to articles on it all the time. Whether you are looking for updates on extreme weather, or are missing a dock, a boat or a dog, this website seems to be the best source of info around.

Did I miss your Leavenworth or Lake Wenatchee real estate blog? Send me a link and we'll make sure you get noticed.

3 Years of MyLeavenworth.com - The Leavenworth Real Estate Blog

2 Year Anniversary of the Blog

Tech Savvy Business of the Year

Leavenworth Riverfront Homes

2008-05-22T17:20:00.000-07:00

Buying a Leavenworth vacation home on the river is a dream for many throughout the Northwest. I have written a number of articles before about some of the options for those looking to buy a home on the river in Leavenworth or buy land on the river and build their own home.

Rivers in the Leavenworth and Lake Wenatchee area include the Wenatchee River (which flows from Lake Wenatchee to the Columbia River), the Chiwawa River,Icicle Creek, Nason Creek and Peshastin Creek. Smaller creeks include Chumstick Creek and the Little Chumstick.

Here is what the Wenatchee River looks like at Spring melt along Icicle road (May of 2008). This video was taken from my listing at 8920 Icicle Road. (It's confusing that homes along Icicle Road are not Icicle Creek, but on the Wenatchee River.)

The Chiwawa River looks like this at about the same time of year (May 2008). This video was taken from my listing at Shugart Flats outside of Plain near Lake Wenatchee.

If you are looking for a babbling brook, you might consider something along Chumstick Creek. This video was taken from the backyard of my listing on the Chumstick Highway in May 2008 as well.

The kids who live here now love playing in the creek and chasing fish and other critters and cooling off when it gets hot.

I currently represent 2 homes on the Wenatchee River, 1 home on the Chiwawa River and 1 home on Chumstick Creek. However, there are other homes on the market to choose from as well. As of May 22, there are 15 homes on the river and 3 homes on smaller creeks.

Click Here to search all the riverfront homes in Leavenworth and Lake Wenatchee areas.

Leavenworth Home Inspection Issues - Part II

2008-05-06T17:03:00.000-07:00

Leavenworth homes have a number of common issues that often show up during a home inspection. In part I of this series about common issues found in Leavenworth homes, John Griffith of Cascade Site Services talked about 5 issues that he often sees in his inspections. Here are the next five issues, in no particular order.

6) Unlined Masonry chimney: Another of the potentially deadly situations that is discovered during a home inspection is an unlined and/or a deteriorated masonry chimney. Typically, masonry chimneys for wood burning fireplaces have terra cotta clay liners. Fireplace inserts and pellet stoves usually have a metal chimney liner installed. If there is no clay or metal type of liner inside the masonry chimney, the chimney is unlined. Unlined masonry chimneys pose a significant safety risk. Any cracks or gaps in the chimneys’ bricks or mortar, anywhere in the chimney (below the roof), will allow heat, smoke and carbon monoxide to escape into the structure. Many attic fires are attributable to deteriorated unlined masonry chimneys. Even if the chimney has a clay liner, any cracks or gaps in the clay liner will pose the same hazards as an unlined chimney. It is critical that homeowners, with a wood burning fireplace and masonry chimney, have the chimney inspected and cleaned by a licensed chimney service company. This should be done annually, if the fireplace is used at all, since cracks in the tile liner can occur at any time and soot buildup can occur very rapidly.

For more information on chimney safety and inspections, see http://www.csia.org/.

7) Electrical Service Panel issues: For those that have ever looked behind the cover of an electrical service panel, you understand the multitude of concerns that are possible in the power supply of an “all electric” home. Usually, the more common issues that are discovered in electrical service panels can be attributed to two causes - outdated equipment and “do it yourself” homeowners. While “DIYing” may work fine for some home projects, electrical system installation or modification should be left to professionals or at least to those “DIYers” that truly understand electrical circuits. Just being “fairly familiar” with electrical supply systems can have very hazardous consequences. “Double lugging” and “over fusing” are typical pitfalls that homeowners, turned part time electricians, often fall into. “Double lugging” occurs when a circuit breaker has two wires or circuits connected to the breaker, when the breaker is designed for only one wire. “Over fusing’ refers to a circuit breaker that is too large for the size of the wire or circuit it is protecting. These conditions can result in arcing, overheating and are a potential fire hazard. Outdated equipment poses limitations on the ability to add new circuits or additional loads to existing components. Also, the older the electrical supply equipment is, the harder (more expensive) it may be to find replacements when breakers fail. Outdated may also refer to down right hazardous, as in the case of “Zinsco” brand panels and breakers. “Zinsco” brands were common in the late 60’s and early 70’s, and unfortunately, have a high failure rate. A high failure rate, in an electrical service panel, usually results in fire. “Zinsco” breakers are easily recognizable by their green, red, blue and black breaker handles. When “Zinsco” panels or breakers are discovered during a home inspection, an automatic referral to a certified electrician will follow. More often than not, the electrician will recommend complete replacement of the panel and/or breakers. Other brands that warrant similar referrals are “Sylvania” and “Federal Pacific / Stablok”. To see some results of electrical system failures, go to http://www.inspect-ny.com/.

8) Lack of GFCI protected receptacles: Since GFCI (Ground Fault Circuit Interrupter) devices were not required on specific electrical receptacles until around 1980, many older homes do not have this affordable and effective protection as part of their updated electrical system. GFCI breakers in the panel, or receptacles in the wall, offer increased protection from potential shock hazards, particularly in areas that are considered “wet”. These areas include the exterior of the home, as well as, garages, unfinished basements, and around sinks in bathrooms and kitchens. For owners of older homes, the installation of GFCI protected receptacles is a great place to begin a safety upgrade to their electrical systems.

9) Nonfunctional smoke detectors: It is absolutely amazing to me that I still come across so many homes that have no smoke detectors or worse yet, smoke detectors that are not working! These simple and inexpensive devices save thousands of lives every year, yet the $2.00 replacement battery seems to be the big roadblock in maintaining effective fire safety in many homes. Older homes, if they have smoke detectors, usually need to install additional devices, so that there is a smoke detector in the hallway of each level of the home, as well as every bedroom. Also, if there is a natural gas or propane appliance in the home, a carbon monoxide detector near the appliance is essential for a safe home. For more information, go to http://www.nfpa.org/.

10) Inadequate attic insulation: More along the lines of comfort, rather than safety, is the condition of minimal insulation in the attic. Newer homes require insulation values of 30 or better, while older homes, will typically be around 19 or sometimes none at all. Adding insulation in the attic spaces will help conserve heat in drafty, older homes.

Course of Construction Insurance

2008-05-03T08:25:00.000-07:00

Course of Construction Insurance:

What You Need To Know Before You Build Your Home.

Submitted by Eric Kossian of Leavenworth Insurance

We’ll assume you’ve purchased your dream lot and have hired a contractor. Prior to this point, you should have liability coverage either extending from another home policy or have a vacant lot liability policy. Once you start building you still need liability insurance (your vacant land liability policy is now void once construction starts) and you will need dwelling coverage while the dwelling is being built. Your contractors should have a Contractor’s Liability policies covering their work on the dwelling. For additional tips regarding your contractor see the bottom of the page.

Contractor liability policies do NOT cover your liability as a land owner and they do NOT cover the building while being built. Both of these needs can be easily and inexpensively covered by you with a Course of Construction homeowner’s policy. These cover the building(s) during the time of construction and typical personal property coverage too, as well as your liability. As with any homeowner’s policy there are usually limitations of $1500 - 5000 for theft of your personal tools so make sure, if you are helping out, your tools are well marked with permanent markers and well secured when not in use as tools are a high theft item. (While many companies have a construction surcharge on course of construction policies, I have found a preferred company that has no surcharge throughout Washington State and they have great rates. And, when the home is done, in most cases they don’t require the hassle of doing a new policy… it rolls right into your homeowner’s policy.

It can be cost effective to buy construction materials now in situations where there are strong indications that prices may increase in the near future. Sometimes you can buy now but have delivery later; whereas some materials may need to be delivered now. I offer, on the same course of construction policy, an endorsement that covers theft of building materials up to $10,000. The cost of this endorsement is just $150.

Statistically, 20% of homeowners are underinsured after a total loss paying the extra out of pocket; often many tens of thousands of dollars because the homeowner, insurance company and the insurance agent all estimated the home replacement cost incorrectly. So once your home is completed, be sure to contact your insurance agent to update your replacement cost. (Homes usually cost 12-15% more than budgeted!) I am one of the few Washington agencies offering a company providing unlimited dwelling replacement cost for your qualifying homes, so in the event your home replacement costs more than estimated, you are still covered!

Other Benefits: Identity Theft restoration service is included free with the all homeowners policies! Best policy also provides $25,000 reimbursement. Literally up to 50% discounts on both home and auto insurance for good to excellent credit rating. (I have saved people up to $1000 a year on just one home.) Affluent clients can get expanded theft coverage for jewelry & tools, worldwide liability, all policies in 1 package policy with just 1 bill.

Additional Tips Regarding Your Contractor:

I recommend you verify in writing that your General Contractor has a Contractor’s Liability policy of at least 1 million dollars – to cover at least the home replacement cost. I also recommend that you get your contractor to agree, in writing, that all subcontractor’s will provide evidence of contractor’s liability to the General, with a copy to you, prior to them starting any work on the property. Contractor’s buy these policies to protect their liability for property damage and injury resulting from their work. You can easily check to make sure your contractor and subs are licensed in Washington State at this site: http://www.dol.wa.gov/business/checkstatus.html

It can also be helpful to stipulate in writing with the General Contractor, for the home to be completed by a certain date or the contractor has to start paying you a daily amount, but allow enough time for reasonable construction delays – which are common. This will help ensure that if your contractor is overcommitted to too many people that your home stays at the top of his priority list. Do not agree to pay much beyond actual work performed. If money for materials is needed, you can make the check out to both the materials company (specifying your project) and the contractor if needed. This ensures that money provided to your contractor for “materials” actually gets spent on materials for your home.

Eric Kossian

Leavenworth Insurance

11756 Hwy. 2, Ste. 1, Leavenworth WA 98826

Ph. (877) 548 – 5488

Click Here to Read a Previous Interview with Eric and his company Leavenworth Insurance