Own a vacation rental in Chiwawa River Pines? Do you have a cabin there that you have been thinking about renting out when your family isn't using it?
Al over at NCW Real Estate Blog reports that the community is debating how to enforce a ban on vacation rentals and all other commercial ventures that have been a part of the neighborhoods.
No matter your opinion on the matter, if you own property in Chiwawa River Pines, you should plan on attending upcoming meetings of the neighborhood association.
I think that enforcing a ban on vacation rentals will have a negative impact on property values. Buyers in the Leavenworth and Lake Wenatchee real estate market like the option of renting out their property even if they never use the option. Condos that can't be rented out languish in our market. Homes in the city limits of Leavenworth don't sell quickly for the same reason. I think a ban on vacation rentals in Chiwawa River Pines will only increase the property values in Ponderosa, where out of area buyers will turn their attention.
UPDATE March 20 - A date has been set for a community meeting for those who own homes and property in Chiwawa River Pines
3 comments:
Geordie, this is not something new. The covenants have never allowed vaction rentals. If something happens, it would either be a change in covenants that to allow commercial activity, an enforcement of covenants or some combination of both. That's my understanding and it is not implementation of a ban. I suppose we could say that driving 150 mph on highway 2 is to be banned as well! It is already, and you really notice it if your caught. This is much the same thing.
Thanks Al, I should have been more clear. While these rules do exist in the covenants for the Chiwawa River Pines home owners association, they haven't been enforced in the past.
I wonder if many other homeowners associations in Leavenworth or Lake Wenatchee have covenants like this that have been sitting dormant and unenforced for a while?
It has really only been in the last few years that there has been this noticeable rental activity. Certainly 4 years ago I never noticed it. Now, in certain parts of the development it is a problem. I'll use my speeding analogy again, just because I didn't get caught last week doesn't mean I won't get caught tomorrow.
That's also why I don't think the values will be negatively impacted. The folks that bought in Chiwawa River Pines have always known rentals weren't allowed. Thanks again for the forum!
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