HomeFinders Weekend - June 8-10, 2012

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North Central Washington

Homefinder’s WEEKEND

WEEK OF JUNE 9TH

Realtor’s Corner

Featured

The Unspoken Appraisal Problem 1 S. Chelan St., Wenatchee •

Agents DeAnn Compton, Broker 509-670-9966 (Cell) 509-662-2100 (Office) deann11111@aol.com

Century 21 Exclusively • 135 N. Mission, Wenatchee, WA 98801

Coldwell Banker LaVigne 1 S.1 Chelan St., Wenatchee • 509-888-8887 S. Chelan St., Wenatchee • 888-8887

Laurie Carlson • 393-9010 • ColdwellBankerLaVigne.com

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People are “Our Business”

From the KCM Blog May 31, 2012 As lenders, buyers, sellers, and real estate agents, the big unknown after a deal is put together is the appraisal. A proper pre-approval can smooth out the other components of the mortgage approval (income, assets, and crediteven title issues can be uncovered before the contracts are signed), so the only “unknown” is the appraisal.

The spoken challenges: An appraised value has always been loosely defined as “what a reasonable buyer would pay to a reasonable seller”, meaning that both sides were of sound mind and under no external pressure. But in today’s environment of foreclosures and short sales, the whole concept of “reasonable” is muddled. So, appraisers are challenged, through no fault of their own, in determining a home’s value because they can’t ignore the data and the distressed transactions, but should they be considered “reasonable”?

Add to it the prevalence of sellers concessions today (wherein the seller agrees to pay the buyer’s closing costs) and the appraiser is faced with a further dilemma: If the seller is willing to pay $10,000 of the buyer’s closing costs, doesn’t that mean that they believe the “reasonable” value of their home is less than the actual price? Many will argue that the seller’s merely looking to make their home more financially attractive to solicit more interest in it, creating more competition, and thereby securing the highest price for themselves.

So, appraisers are in a difficult position, for sure. But, there is a problem with appraisals today that goes beyond a property’s worth. It’s the unspoken challenge.

With the advent of post real estate bubble regulations (predominantly HVCC in terms of appraisals), most lenders order their appraisals through a third-party company. This company gives the appearance of independence- a company immune to the pressures of a loan officer or a real estate agent who might push a value too high. But, in fact, many of these Appraisal Management Companies are owned or controlled by the lenders themselves. And these AMCs don’t actually do the appraising. In many cases, they subcontract the work out to actual appraisers, but only pay them a fraction of the monies collected.

Lorre Stimac Realtor cell: 509 670-7653 fax: 509 662-2164 lorrestimac@hotmail.com

Over 21 Years of Real Estate expertise partnered with the National Exposure of !

Melissa Kiser 509.668.8800 Melissa@MelissaKiser.com

Search Every Wenatchee Real Estate Listing at www.NCWhomes.com

So, appraisers, besides being under tremendous scrutiny, today have a tougher job and they are asked to work for less money. Is it surprising that they would be conservative in their evaluations? The bubble was not the appraisers fault.

There were multiple reasonable buyers willing to pay the prices in 2006, and the values reported were valid at the time. The appraisers didn’t create outrageous underwriting guidelines that allowed too many unqualified buyers to bid on those homes.

Let’s get rid of HVCC and let the appraisers do their job; otherwise, home appraisers will not be showing appreciation in any real estate market.

www.wenatcheepremierhomes.com Stephen Office: 662-3491 Bishop fax: 664-3897

679-7004

Sharon Moreland

670-0075

Bringing Buyers & Sellers Together Jackie Gabaldo

R E A L E S TAT E

Broker Associate

860-4456 Connect to johnlscott.com/wenatcheeofice • 662-4772 • 1201 N. Wenatchee Ave. This Office independently Owned & Operated

Laura Mounter Cell: 509-670-3303 Office: 509-665-9200 Laura@LauraMounter.com • www.LauraMounter.com

Bringing Your Dream Home 175 E. Penny Rd. ~ Wenatchee, WA 98801

Congratulations to KIM SKAAR, for being COLDWELL BANKER LCP’s Top Sales Agent for the Month of MAY! 101 E. Woodin Ave Chelan, WA 509.682.7777

Kim Skaar has been with Coldwell Banker since 2003. He has been a consistent producer of real estate sales in the Chelan Valley since he started. He has been awarded the President’s Circle, which is the top 2% of all Coldwell Banker agents worldwide for four years consecutively.

In 2011 he earned the prestigious Coldwell Banker award as a member of the International Sterling Society, putting him in the Top 20% of CB sales brokers in the world, and is in the Elite group of Coldwell Banker Previews Certiied Agents, which specialize in listing and selling luxury real estate.

Kim is very active in the community, he is a Rotarian, and works many hours annually raising money for the Chelan Food Bank.

Top Sales Agent

MAY

If you are thinking of selling or buying in the Lake Chelan Valley....

Contact Kim Skaar for all your Real Estate needs:

www.coldwellbankerchelan.com

509.670.2223 | www.ChelanProperty.com | KimSkaar@msn.com Top 20% Internationally of ALL BROKERS - Coldwell Banker 2011

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Homefinder’s North Central Washington

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North Central Washington

Homefinder’s WEEKEND

WEEK OF JUNE 9TH

June 9 & 10, 2012

N<<B<E; FG<E ?FLJ<J Wenatchee

Wenatchee

$99,000

East Wenatchee

East Wenatchee

$239,900

$162,500

$249,900

$129,900

$289,900 645 Kayla Way Open Sun. 12:30-2                                      Premier One Properties Steve Bishop 679-7004

612 S Larch Open Sun. 1-2:30 Large 3 bedroom, 2 bath manufactured home. 1800 sq. ft,, comfortable living areas, master suite, family room, .56 acre landscaped lot, big outside living areas, great views.

Directions: Grant Rd., right S. Kentucky, left SE 6th, right S Larch.

Windermere Real Estate/NCW Jerry Paine 860-7696

$169,900

$259,900 2487 Plateau Drive Open Sun. 2:30-4 Gorgeous Swim World in-ground pool with lush and beautiful landscaping. Upgraded tri-level home with newer carpet, granite. Large lot with room for your RV and lots of privacy.

Directions: Eastmont to Plateau Drive.

Premier One Properties Paul Mares 670-2119

$142,500

$295,000 403 Lombard Lane Open Sun. 12:30-2:30 Views! 4000 Sq. Ft., daylight rambler, .48 acres. Directions: School St., right on Lombard.

John L. Scott Wenatchee Sue Long 670-0633

3331 Sunset Hwy Open Sun. 2-4 New 2007 home! 4 bed, 2 bath, .52 acre, 2 car attached garage, oak cabinets, formal dining, breakfast nook, nice size master with soaking tub, warranty, room for your toys. Directions: Odabashian Bridge, South on Sunset Hwy, house on left.

Windermere Real Estate/NCW Diana Hinkle 860-1685

$175,000

566 Canyon Dr. Open Sun. 1-3 Sunrise East! Over 55 gated manufactured home park. 2+Bed, 2 bath, 2320 sq. ft., large pantry/hobby room off garage/utility area, large lot with views. Directions: Grant Road, left on Lyle, right on 5th, left into Sunrise East.

Windermere Real Estate/NCW Jamie Wallace 670-3305

$269,900 2178 Blackstone Court Open Sun. 1-3 2012 4 bed, 2.5 bath home in newer development. Custom cabinets, granite counter tops and hardwoods adorn the custom kitchen. Master features 2 closets with built-ins.

Directions: North on Baker, right on 21st, left on Blackstone Ct. Century 21 Exclusively Gene Palmquist 393-9820

$194,500 701 N. Lyle Open Sun. 11:30-1:15 Immaculate rambler with amazing Mission Ridge views. 3 bed, 2 bath with great master suite. Nice patio in beautiful fenced yard. 2 car garage with storage! Directions: Eastmont to 5th NE, East to Lyle, left on Lyle 2 blocks.

Coldwell Banker LaVigne Laurie Carlson 393-9010

$299,900 351 19th St. NE #7

Open Sun. 1-3                                         Century 21 Exclusively Doug Andrews 860-8840

$199,900 3946 Blueridge Open Sun. 2:30-4:30 Gorgeous, newer rambler with a beautiful view of the river, mountains. 3 bed, 2 bath, double car garage. Fully fenced backyard with automatic sprinklers. Directions: Hwy 97 to Bluerock, right on NE Blueridge Dr. Premier One Properties Wilber Zaldivar 630-6805

$309,500 -$347,500

$234,900 826 NE Manzanal Open Sun. 2:30-4 4 bed, 3 bath home updated throughout. Lots of space and totally custom. Beautiful kitchen and baths. Great deck and patio spaces. Nice location on a quiet Street. Directions: North on Eastmont, right on 11th, right on Guerin, left on Manzanal.

Premier One Properties Steve Bishop 679-7004

$359,900 47 S. Mandolin Open Sun. 12 - 2                                        Premier One Properties Paul Mares 670-2119

$239,900

343 N. Newark Ave. Open Sun. 12:30-3                                       Premier One Properties Steve Schwind 421-1150

$407,900 420 NE 21st Street Open Sun. 2-3:30                                           Century 21 Exclusively Bitsi George 670-8555

$239,900 916 N Jennifer Open Sun. 12:30-2:30                                  Windermere Real Estate/NCW Tim Seyster 669-5786

$574,900

1308 Horizon Place Open Sun. 2:30-4 Just Reduced! 1,850 sq. ft., tons of storage areas, perfect for downsizing! Spacious layout. First full year park rental lease and home warranty paid by sellers! Move-in Ready! Directions: North on Western, East on Maple, right into Twin Peaks.

Laura Mounter Real Estate & Co. Jody Campbell 630-0722

25 Furney Open Sun. 12-2 3164 Sq. Ft. rambler with many upgrades and full basement.

Directions: South Miller, right Washington, right Furney.

John L. Scott Wenatchee Darlene Garton 881-1600

1519 Washington St. Open Sun. 12-2                                    Windermere Real Estate/NCW Mary Tabler 885-3902 201 S. Elliott #19 Open Sun. 1-3 n t dd t dtd  d  t ondo  n  o  t  to ttd do  o ond oo o ton ott o to nd ontn ondo Laura Mounter Real Estate & Co. Jan Widener 670-2444

$299,000

223 N Western Open Sun. 12-2 Wonderful mid-century home boasts a delightful mix of period design and modern conveniences. Nestled on beautiful 1.52 acre grounds and inviting in-ground pool. Sunny dining area is open to covered deck. 4 bedrooms and 3 baths!

Coldwell Banker LaVigne Linda Bondo 860-2398

$154,700 85 Terminal Open Sun. 1-3 Cute 3 bed, 2 bath - new carpet, new paint, don t miss this cute home. There will be a drawing for a Gift Card!!! - so stop by for your chance to win. Directions: S. Wenatchee Ave. to Terminal, across the Street from Mission View.

Coldwell Banker LaVigne Debbie Chase 630-0235

$299,500

2017 Dawn Terrace Open Sun. 1-3 Solid brick 50 s home with basement apartment. Two complete levels of living space. This home has a new kitchen and 2 new baths. Beautiful views! Directions: From N. Wenatchee Ave., West on Horselake Road, left onto Dawn Terrace.

Premier One Properties Kay Stevens 421-4915

$160,000

20 S. Delaware #1 Open Sun. 1-2:30 Townhouse 2 bedroom, 2.5 bath condo. Updated kitchen with Corian counter tops and stainless appliances. Covered parking and close to everything. Directions: Corner of Washington and Delaware.

Laura Mounter Real Estate & Co. Cindy Smith 664-6278

$329,900-$399,900 2100 Yarrow Rd.

Open Sun. 2-4                                   Century 21 Exclusively Betsy Loomis 509-669-6464

$169,500

300 S. Elliott #13 Open Sun. 2-4                           Century 21 Exclusively Perrin Cornell 669-0354

$379,900

1414 Benoy Open Sun. 2-3:30 Meticulously cared for home on private lot. 3 bedroom, 2.5 baths plus formal living and dining room. Bonus family room is open to the kitchen/breakfast nook. 2 car garage + shop 1.21 acres. Directions: Western to Mulberry to Benoy.

Century 21 Exclusively DeAnn Compton 670-9966

$174,900 515 Hawthorne Open Sun. 12-1:30                             Century 21 Exclusively DeAnn Compton 670-9966

$419,000

460 River Walk Open Sun. 12 - 4                                              Premier One Properties Jeff Benson 630-6859

$174,900 900 Stewart St. Open Sun. 1-2:30 Quiet neighborhood. Three beds, two baths, family room, double garage, over 1300 Sq. Ft. Perfect for any buyer. See it!

Directions: South off Cherry Street.

Premier One Properties Carol Stueckle 664-7849 $178,900

1807 Garnet Place Open Sun. 12-1:30                               Premier One Properties Wilber Zaldivar 630-6805

Sunnyslope $654,900

1020 Sage Crest Dr. Open Sun. 12-1:30 Reduced $34,000! This luxury home perfectly combines style, entertaining and family enjoyment! Spacious design with 2 master suites, in desired Sunnyslope School District. Beautiful view.

Directions: Easy St., North on Crestview, left on Sage Crest.

Laura Mounter Real Estate & Co. Jody Campbell 630-0722

$184,900 300 S. Franklin Ave. Open Sun. 12:30-2:3                                      Windermere Real Estate/NCW Cindy Seyster 670-6466

3 Lakes/Malaga

$215,000 323 Michael Place Open Sun. 12-1:30                                            Laura Mounter Real Estate & Co. Lela Castro 322-6060

$399,900

3060 Riverview Lane Open 11:30-1 Like living in a resort...quite .85 acres, swimming pool, gorgeous kitchen and all with mountain and river views. Walk to golf course too! Directions: Malaga Hwy., right on West Malaga Road to Three Lakes, left on Golf Course Road, left on Riverview.

Century 21 Exclusively Betsy Loomis 669-6464

$239,950 1441 Copper Loop Open Sun. 11-1 Tour our model home or call for a showing. A 3 bedroom rambler. Stop by and let s talk about a pre-sale. Ramblers, Tri-Levels or 2 Stories. Timberwood Homes-Wenatchee s Premier Builder. Directions: SE 4th St. to Kansas.

Windermere Real Estate/NCW Julie Jessup 670-6637 $245,900

1530 N Baker Open Sun. 11:30-1:30                              Century 21 Exclusively Perrin Cornell 669-0354

346 N. Newton Ave. Open Sun. 12:30-3 Spacious Great Room, large windows, lots of light! Granite kitchen counter tops, formal dining room. Exclusive Master.

Enjoy serenity and a mountain view, 3 bed, 2 bath. Large fenced lot.

Directions: Grant Rd., left on Nevada, right on 3rd, left on Newton.

Premier One Properties Steve Schwind 421-1150

SE 8th & Lyle Open Sun. 12-4                               Premier One Properties Erin Davidson 293-2214

1536 Holly Lane Open Sun. 1:30-3:30 Beautiful corner lot with sweeping mountain views - Briarwood.

Over 4500 sq. ft. home with every upgrade! 5 bed, 4 bath, huge 4 car garage with shop area. This home has it all. Directions: Eastmont to Briarwood, East on Briarwood, right on Holly Lane.

Coldwell Banker LaVigne Laurie Carlson 393-9010

Cashmere $199,000

116 Oak St. Open Sun. 11-1 4 bed home with fenced backyard, TREX deck and rec. room.

Directions: Pioneer to Mission Creek, left on Oak St. John L. Scott Wenatchee Anne Conway 885-0845

$340,000 7550 Brender Canyon Open Sun. 1:30-3:30 Beautiful one level view home on 4 acres with irrigation.

Directions: West on Pioneer, turns into Brender Canyon.

John L. Scott Wenatchee Anne Conway 885-0845

For additional information on these Open Houses visit: www.ncwaropenhouses.com

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135 N. Mission Wenatchee, WA • 509-662-2100

$995,000 .................WENATCHEE Rare opportunity to own this local landmark and historic 1917 home on the Wenatchee River. Eight fabulous bedrooms, formal dining and living rooms, and fantastic riverfront deck combine for a very special home.

MLS# 698349 Geordie Romer 679-8958

$495,500.............. LEAVENWORTH Peaceful & pastoral 2 acre creek side property! Large comfortable rooms. Great room with fireplace, 4 bedrooms each with adjoining bath. Quiet patio, waterfall/pond, and 4 car garage+ workshop. MLS# 698407 Momi Palmieri 433-2211

$360,000.............. LEAVENWORTH Recreational opportunities! Cozy 3 bedroom cabin, 1.75 baths, 2,072 sq ft, family room, rock fireplace with insert, front and rear decks, and private hot tub. Great natural forest setting. MLS#698419 Geoff Ford 860-0554

TODAY IN

$299,000............. LEAVENWORTH Extensively Remodeled! 4 Bedrooms, spacious living/ dining, large windows, bright remodeled kitchen. Large corner lot and lovely patio for outdoor enjoyment. Walk to schools or town. MLS# 698317 Momi Palmieri 433-2211

$230,000............. LEAVENWORTH Picture perfect cabin on a quiet cul-de-sac! Built in 2005, this 2 bedroom charmer sits on a large 1/2 acre lot and backs to community green-space. Community pool and Wenatchee River are just a few blocks away. MLS 698314 Geordie Romer 679-8958

Windermere Real Estate / NCW

662-7184 • 1-800-841-0055 www.windermerewenatchee.com

473 NE. 5TH ST. - EAST WENATCHEE This house is a must see. Large Tri-Level home with an in-ground Larson Pool and a huge shop! All this sitting on a beautifully landscaped .60 of an acre lot. Plenty of room with a large family room and 2nd kitchen that is also plumbed and wired for a hot tub. $299,900. Please Contact GARY MULLEN @ 679-4132 For more information. MLS# 697460

34 S. MANDOLIN – EAST WENATCHEE Beautiful open concept daylight rambler. Gourmet kitchen features slab granite countertops, double ovens and 5 burner cook top. 9’ ceilings. Fifth bedroom/office/hobby space in lower level. 3 Bathrooms. Large deck to the west to take advantage of the panoramic view plus large covered patio with stamped concrete on lower level. $359,900.

Please contact JEANNIE KING @ 679-5150 for more information. MLS# 697994

1601 MAIDEN LANE - WENATCHEE Feel of the Country, Heart of the City......After a hard day’s work enter a worry-free world of fun. Nothing to do in this stunning 2 bedroom 2 bath updated Condo, with granite counter tops, fresh paint and newer carpets.

Open floor plan, secure storage, heated garage with extra room for office or shop. Watch the city lights twinkle from your elegant covered deck. Secure building with elevator. $186,000 call JUNE STANAWAY 699-1321.

MLS# 696380

www.premierone.biz 925 Fifth St., Wenatchee • 662-3491