winthrop construction: Financing a Partially Completed Home - 08/25/13 11:38 AM
I recently was contacted by a potential client who needed financing to finish his home which he had begun with his own cash.  He mentioned that he had been unable to find any bank financing on a project where work was already underway. I have financed plenty of homes like this, and there are several general scenarios they fall in.
 
In my primary market in Eastern Washington, we have a limited construction window due to weather, so this leads to several scenarios in constuction planning.  Sometimes, they get their permit too late in the fall to get dried in, but … (0 comments)

winthrop construction: Partially Complete Homes - 04/22/10 06:58 PM
I have encountered several clients who started construction of a home on their own nickle, expecting to get a construction loan to finish the last 10 -20 or 50%.  Only to find that most banks won't lend on a house if construction has already started.  I can't speak for the rest of the markets, but at least in our area of Eastern Washington, you have some choices.  You CAN get a construction loan to finish a house, or to buy a partially completed home.  We have several spec homes in our market that the builders walked away from; fortunately they were dried … (1 comments)

winthrop construction: Owner-Builders Saving Money - 07/07/09 07:27 AM
This year, probably half of the construction loans I have done have been for owner-builders. This is the term we use for people who are building a home without a general contractor. In reality, the projects vary from individuals who never lift a hammer and just schedule all the subcontractors, to the people who are out there on the project themselves setting their own concrete forms and doing all their own framing and finish work. 
For those who are a little nervous about being completely in charge, there are now lots of consultants available, as well as companies who will build … (1 comments)

winthrop construction: Land Finanancing continues in Eastern Washington - 06/16/09 05:39 PM
I was at a meeting with Realtors from Western Washington, and they were amazed that we were still doing lot and land financing.  Actually in our market areas of Wenatchee, Chelan, Winthrop, and Leavenworth (plus surrounding Counties), there are actually several community lenders that will lend on land. Each bank has different programs and terms, so it is worth calling around to compare programs before making a decision.
I have seen some great deals out there; your dollar really goes a lot farther than it did a few years ago.
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winthrop construction: Construction Financing Continues - 03/03/09 05:37 AM
I cringe whenever people ask, "Are you still lending money?"; but I suppose it is a fair question these days. In my markets of Wenatchee, Leavenworth, Chelan, Winthrop and Okanogan County, most of the banks that used to do a lot of construction lending have severely cut back their programs.  Some of the things that other lenders have dropped but we still do are:
Owner-Builder Construction Loans
Lot Loans, Land Loans
Modular Home Loans (those delivered in sections)
Kit Home Construction Loans, or panelized home Loans  such as Lindal, Viceroy, etc.
Loans for homes where construction has already started
SIP Construction loans, or … (0 comments)

winthrop construction: Financing an As-Is Home in Wenatchee - 12/01/08 05:05 PM
One fallout from the current market is the increase in homes being sold As-Is. Either a builder was unable to finish, or maybe the house went back to the bank in less than perfect condition.  Either way, you end up with Sellers who don't want to put more cash into the house, they just want to sell it. While there are many more in other parts of the country, we in Wenatchee and all over Eastern Washington are seeing more and more of these.
These are huge opportunities; you will see homes for $150,000 that with $30,000 worth of work would be worth $250,000.  Instant … (1 comments)

winthrop construction: Market support for Wenatchee Homes - 07/16/08 06:18 PM
In the Wenatchee Real Estate market, you have to be careful about too many statistics.  I actually took a statistics class or two back at UW many years ago, and we learned about something called sample size.  Basically, if you don't have a lot of  pieces to measure and slice and dice, it is hard to come up with statistics that mean anything.  In Seattle, you can study trends; in Wenatchee, one good weekend of home sales can skew the numbers.  It is best to look at the overall picture to see what is happening in Wenatchee Real Estate.
In Wenatchee, we have … (0 comments)

winthrop construction: Winthrop and Methow Valley Construction - 06/09/08 05:10 PM
One of the things I love about my job is that I have to inspect home construction projects every month throughout North Central Washington, which allows me time to enjoy the beauty and wildlife of our area. I recently made my monthly trip up to Winthrop and Mazama in the Methow Valley, and (I apologize to our Puget Sound area readers), it was nothing like my old commute on 405 and I-5 in my past life.
For those that want to escape the rat race and can tele-commute, you ought to check out the Methow or other parts of Okanogan County.  I have been … (1 comments)

 
Darel Ansley (Peoples Bank)

Darel Ansley

Wenatchee, WA

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Peoples Bank

Office: (509) 664-5324

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