The real estate Snapshot is produced by Pacific Appraisals in Wenatchee based on current month stats compared to stats from the same time last year. Please click on the links below to view the current statistics. Please let me know if you have any questions. Thanks.
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The report is still in a down mode. Something the report doesn't state is that the Wenatchee market is still about 30% overvalued. About 10% of that value will come from the lower end properties and the balance will come from the higher end. Where does that info come from? The national market is about 20% overpriced and Wenatchee's is about 20% higher than the national. There is still a shadow inventory out there of 500K REO's(R/E owned by banks) that have not hit the national R/E market. Wenatchee is the last to go up and the last to come down. We are a couple of years out from the bottom at a minimum.
ReplyDeleteIs this a good time to buy? Yes in the sense that interest rates are lower that any time in history and motivated sellers will negotiate down their sale prices. :-) Scott