I work with a lot of  investors and am always on the look out for good opportunities for them in the Wenatchee area real estate market, including Chelan and Douglas counties. 

As active as our market has been, with historic appreciation, sellers have been "testing the market" and pricing  their homes on the high end of the market.  It is more and more difficult to make investments attractive to real estate investors. 

Pertaining to single family homes, the current Wenatchee real estate market has two main kinds of investors:

  1) The investor looking for newer construction for short term
      and long term appreciation through natural market growth.

  2) The "flippers" looking for run down properties they can buy
      at cheap prices, so they can fix them up and make the quick profit.

My assistant, Shelley, and I work mostly with the first kind of investor.  Last week-end we previewed a home we both thought would make a particularly good investment.  I called three of my favorite investors and each one of them passed on the opportunity... not because they don't trust that I am making a good recommendation, but because of the age of the home.  It was built in the early 1950's.

I do generally recommend investors look for newer construction so they don't need to worry about deferred and ongoing maintenance issues.    An older home that has been well maintained AND updated can still be a great investment.  And, in my humble opinion,  some of the older homes are of better quality construction than many of the newer homes being built.  Plus, you tend to get more for your money (square footage and a larger lot) in the neighborhoods that were established before the boom and before land got so darned expensive.

So, there is a third option, which I am hoping to shift our focus to:
  3)  The investor willing to consider an older, well-constructed, well maintained,
       updated home that is priced right and shows upward potential through natural
       market appreciation. 


The particular home I was recommending fits into the third category.  It is priced right, is in an excellent location, has a good parking set-up AND could be a break even monthly cash flow investment, with short term and long term appreciation potential.   And, by-the-way, this is NOT my listing.  It is a recommendation based on being a truly good value.

With our strong and diverse economic position, there will be continued demand for rental housing in the Wenatchee area. So, if you're looking for an investment in single family homes in the Wenatchee area, contact me about current recommendations of older, well maintained (well priced) homes with upward potential.

Have a great week-end!


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