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Wenatchee's Affordable Housing Option

On my Wenatchee condo blog I discuss the idea of condos being the new "affordable housing" option. As prices on single family homes have skyrocketed in the Wenatchee Valley over the last few years, there has been a public outcry for affordable housing.

In response to this, many developers and investors have done apartment conversions and built more condos to meet the demand. Condos start under $100K and offer a high quality of living for the money compared to single family homes in the current market.

Read the entire article at my Wenatchee Condo blog.

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Happy Holidays!

Posted by Carol Williams Wenatchee Real Estate on 12/17/2007 11:33 PM

Comments (9)

wenatchee real estate, carol williams, wenatchee real estate agent, wenatchee condos, affordable housing

This post has been included in Washington Information Chelan County, WA Information Wenatchee, WA Information

9 Comments on Wenatchee's Affordable Housing Option

DEC

2007

Carol- Here's another view on condo conversions I wrote for the PI blog a while back. I think that developers need to focus on a target market. Too many try to aim for both vacation rentals and affordable housing at the same time. Most often they miss - ending up right in the middle.

Hi Geordie, I did read your condo conversion article earlier and thought it had some good points. Your posts are always well thought out. I don't happen to agree that affordable housing and vacation rentals are necessarily mutually exclusive. Target markets are certainly good, but the broader appeal, the better in my options .

I think our main challenge at this time is to get first time home buyers to seriously consider condos as their first step of home ownership. The dream of a single family home on a lot, with a fence for the dog and kids, is a worthy goal but not necessarily realistic for the first step. Few of us could afford our dream car for our first car. I bought a used Ford Falcon for heavens sake. Who would want to be seen in one of those? But, it was transportation, and got me to work so I could earn money to buy my dream car... the 1973 Ford Mustang Mach I. Now that was a car!

Why should a home be any different? We have to start somewhere. A condo is a good, affordable, quality living, option to start.

I completely agree that condos are great options for first time home buyers. In Wenatchee that can mean under $100,000 still and in Leavenworth under $250,000.

I still contend that many developers are getting it wrong. They are wasting money on granite and stainless steel on converting apartments or multi-family units in bad locations and with bad floorplans or amenities. Some projects should focus on price and try and compete on price. Some projects should focus on luxury and do that really well.

Some of these condo projects are what I call the Gold Plated Pinto, or they aspire to it. No matter how much bling you add to a Ford Pinto - fancy rims, leather seats, high end stereo, etc - it's still a Pinto at the end of the day and most folks can't look past that.

Geordie, You're right about the granite, etc. Not sure if that's an ego thing with the builders but they all seem to want to do that. Even the flippers are doing it when a good vinyl and laminate would do and keep the cost more affordable.

DEC

2007

Hi Carol, sounds like your blog is introducing folks to the options that may not been available to them. Nice post.

DEC

2007

Merry Christmas Carol...a day late.

DEC

2007

Hi ARDELL,
Greetings of the season back at ya Hope you're enjoying the Holidays. We enjoyed a nice white Christmas over here with more on the way.

JAN

2008

Some condo conversions are first rate, and others are awful. There's one here in Tucson. I previewed it, and the shower off the master bedroom was so narrow that my shoulders touched the tile wall on the left and the glass block wall on the other. I'm big, but no giant!

JAN

2008

I would love to have some condos for under $100k. That would be an amazing option that is just not available anywhere closer to me than Wenatchee.

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