Foreclosures 101

Foreclosures, short sales, and auctions seem to be on everyone's mind as the media continue to squawk about the national real estate slump. We don't see a lot of foreclosures in Leavenworth and I don't expect we will. Appreciation has been strong the past 3-4 years (giving home owners lots of equity). Additionally, we rarely see buyers who are using exotic loans like negative amortization or interest only. I see a lot more cash sales than I do buyers paying less than 20% down. The people I see in Leavenworth getting in trouble are those people who used their house as a piggy bank with HELOCs and multiple-refis. Jason Schwieger, of Brio Realty wrote a great article about Investing in Foreclosures. This is required reading for anyone thinking of getting into the investing game. Allyson and I get lots of questions about this and I think Jason did a great job explaining how it works.

Leavenworth Luxury Condos

Luxury Condos in Leavenworth Washington? Yes, it's true.

The condo market has been going strong here for a number of years and 2007 has brought Leavenworth a number of new condominium projects.

For the first time, Leavenworth has condos that meet the upscale needs and desires of the luxury real estate market. Windermere Real Estate in Leavenworth is proud to represent both the Boulders Condominiums on the Wenatchee River and River Park Condominiums overlooking Blackbird Island in downtown Leavenworth.

The Boulders are 6 units on Alpensee Strasse on the East edge of Leavenworth overlooking the Wenatchee River. All units have two bedrooms and two baths and are 1500 square feet in size. They have fantastic 10 foot ceilings, gas fireplaces in the living room and master bedroom. Gorgeous well appointed kitchens and most importantly - great windows and decks for viewing the Wenatchee River. At this time only 3 units are still available. Prices start at $595,000.

The River Park Condos are located in the heart of downtown Leavenworth. Owners and guests can have easy access to all of Leavenworth's festivals - from Oktoberfest to Christmas Lighting, shopping, restaurants and more. Or you can relax and enjoy the huge decks and the expansive views of Wedge Mountain and Tumwater Canyon. All units are two bedrooms and two baths and sizes range from 1096 to 1484 square feet. Prices run from $329,000 to $624,900 New Prices $325,000 to $539,000. All units come with gorgeous granite kitchens and baths, wood floors and private indoor parking. Corner units are larger and include a soaking tub in the master bath. At this time 14 units are still available. Prices have recently been reduced and the seller will consider contributing to closing costs or other incentives. Click here to see more of these luxury condos in downtown Leavenworth.

Click here to schedule a private appointment to view these condos.