Don't mess with the Chumstick!

Don't mess with the Chumstick!

Last weekend a couple of the dumber inhabitants of Western Washington came to visit our sleepy berg.

These hoodlums attempted an armed home invasion on the Chumstick Highway north of Leavenworth and got an education about rural living.

The homeowner grabbed one of the robber's pistol and shot him. Both robbers fled and gave themselves up to local sheriff's deputies.

You can read the full article here.

In my opinion, both robbers are lucky to be alive. The Chumstick neighborhood is typical of rural Eastern Washington. The number of firearms - shotguns, pistols, and hunting rifles, per capita is probably fairly high. If you try and break in to a home here, plan on gettting shot or shot at.

Cashmere Real Estate Update

Cashmere real estate has picked up since I wrote about it in March for my last Cashmere real estate market update.

The number of houses sold in the first half of 2007 is up 35% from the same time last year. The sales volume is up 53%!! This year 5.5 million dollars worth of homes have been sold in Cashmere in the first 6 months.

The average sales price in Cashmere is now $292,000, up 12% from 2006. The median sales price is up 31% to $282,000!

Right now there are 29 homes for sale in Cashmere at an average price of $396,000.

There are 10 pending sales with an average listing price of $325,000. This will continue to raise both the median and average sales prices for the year.

What is driving Cashmere real estate? I think Cashmere is a cute town, centrally located between Wenatchee and Leavenworth. For those commuting to either city, it is about a 15-20 minute drive. There are options for rural living or small town living in cute Craftsman era homes. Cashmere's school district is also in high demand with lots of praise coming from parents and students.

Click here to Search for Cashmere Homes for Sale

Leavenworth real estate update

Leavenworth's real estate market seems to be following Westside trends. Home prices continue to climb, but fewer homes are selling according to data comparing the first half of 2006 to the first half of 2007.

Through June 30, 2007 the number of single family homes in the Leavenworth market that have been on the market is up 9% from 2006. Pending sales and # of homes sold are both down 15%. (These numbers exclude condo sales and manufactured homes.)

Sales volume for the first half of the 2007 is up only slightly (5%) over 2006 at $21.8 million dollars.

The continuing rise of prices in the area is probably leading to the slowdown in sales. Average home sales prices are up 25% over last year to $376,000, while median sales prices are up 17% to $305,000.

As of July 30, there are 111 single family homes for sale in Leavenworth at an average price of $518,000. Currently, there are 14 homes pending or under contract with an average price of $467,000.

Anecdotally, I am seeing the same trends I have been seeing for years. Most buyers in Leavenworth are looking for vacation property - this might be a condo in Leavenworth or at Kahler Glen , or maybe a cabin in Ponderosa or at Lake Wenatchee. These buyers are looking for good values between $200,000 and $400,000. They will spend more to be on the water - lakefront properties on Lake Wenatchee or Fish Lake, or Wenatchee riverfront.

The homes that are coming on the market tend to be either homes located in the city of Leavenworth that are very much like "vacation homes" or cabins, or they are priced above the price range that is popular with vacation buyers.

Despite the glut of homes on the market today, there is a dearth of cabins for these vacation buyers to purchase. The numbers make it look like some sort of "bubble" is about to burst. On the contrary, cabins and condos will continue to sell at a healthy clip, and everything else will plod along as it has.

Click here to search for your Leavenworth vacation home

Insurance for Vacant Land?

The Importance of Insuring Vacant Land

By Eric Kossian of Leavenworth Insurance

While vacant land doesn’t have any structures that could burn down, the landowner is still subject to liability lawsuits, so it is advisable to have liability insurance coverage.

To obtain vacant land liability coverage inexpensively the first choice is simply having your agent extend liability from an existing homeowners policy and/or excess liability (umbrella) policy. This costs almost nothing.

But what if you don’t currently own a home? There’s a policy you can get that will cover up to 500 acres of vacant land including up to 25 acres of lakes or ponds. There must be no structures or commercial use and no plans for development or construction during the term. (Once you are ready to build your dream home, you would cancel this and get a Course of Construction Policy which would also cover liability.)

Liability coverage on a Vacant Land Policy has no deductible and uses the expanded definition of Bodily Injury to include Mental Anguish and Emotional Distress. Premiums are low.

Eric Kossian was an Underwriting Specialist with State Farm. He owns Leavenworth Insurance, LLC. an agency providing affluent homeowners throughout Washington State with all their insurance needs. Eric can be reached at (877) 548-5488 or

leavenworthinsurance@gmail.com

Leavenworth Home Tour - This Weekend!

Windermere Real Estate in Leavenworth is holding an open house event with about a dozen homes throughout the Leavenworth, Plain, and Lake Wenatchee area.

Homes on the tour range from small cabins to larger homes on the Wenatchee River. Prices range from under $200,000 to over $800,000.

We will be hosting this event from 12-3 on Saturday. Maps will be available at our office on Highway 2 in downtown Leavenworth and at each of the homes on the tour.

Three drawings for dinner at Leavenworth's newest restaurant - South - will be held. Enter the drawing at each of the homes you visit. Increase your chances and visit them all!

Click here to see some of the Leavenworth Homes on tour.