HomeFinders Weekend - June 1-3, 2012 by The Wenatchee World

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North Central Washington

Homefinder’s WEEKEND

WEEK OF JUNE 2ND

Realtor’s Corner

Featured

Harmful Effects from Changing the Listing Price?

Agents

From the KCM Blog May 23, 2012 - This is a post we originally ran this time last year by Ken H. Johnson, Ph.D. — Florida International University (FIU) and Editor of the Journal of Housing Research as our guest blogger. To view other research from FIU, visit http://realestate.fiu.edu/. - The KCM Crew The Research.

My Real Estate business is going to the dogs! (and cats too) I donate a portion of my commissions to the Wenatchee Valley Humane Society.

Jerry Paine

509-860-7696 • ncwrealestate.com Call me for all your real estate needs.

In Knight, the impact of changing a property’s listing price is investigated. Additionally, the types of property that are most likely to experience a price change are also estimated. The findings from this research indicate that, on average, properties which experience a listing price change take longer to sell and suffer a price discount greater than similar properties. Furthermore, bigger price changes are found to experience even longer marketing times and greater price discounts. Finally, as for which properties are most likely to experience a price change, Knight finds that the greater the initial markup; the higher the likelihood that any given property will experience a listing price change. Implications for Practice Sellers as well as Brokers/Agents should therefore be aware of the critical necessity of getting the price correct from the start. Sellers wanting to over list will ultimately take longer to sell and will sell their property for less, on average, according to Knight. Brokers/Agents’ desire to take a listing and get the price right later will ultimately lead to their working harder according to Knight, and they are not doing their sellers any favors. Thus, an initial and detailed analysis of the proper price is much more critical than many originally thought.

Windermere Real Estate/NCW

Office: (509) 888-3950

gary@premierone.biz Cell 509-679-4132 garymullenrealestate.com

Interestingly, I have found in my own research that the direction (up or down) of the listing price change does not matter. A listing price increase and decrease both lead to similar results found in Knight’s work – longer marketing times and lower prices. Therefore, get the price right from the beginning. It is best for all.

www.wenatcheepremierhomes.com Sharon Moreland

Stephen Office: 662-3491 Bishop fax: 664-3897

679-7004

Endnotes [1] Knight, John, R. (2002). Listing Price, Time on Market, and Ultimate Selling Price: Causes and Effects of Listing Price Changes. Real Estate Economics. 30:2, 213-237.

670-0075

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Rebecca Hackworth 509-421-2007 (Direct) 509-662-2100 (Office) Rebeccahackworth@ymail.com Rebeccahackworth@century21.com

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Are there any negative effects from changing the listing price of a property? This question haunts Brokers/Agents as well as sellers of property every day. At present, there does not seem to be a consensus answer to this question within the professional real estate community. Fortunately, this question was scientifically investigated by John R. Knight. Unfortunately, few know the results of Professor Knight’s research.

✓ are experts on real estate—the largest financial investments you will make ✓ are pros at bringing buyers and sellers together ✓ have established leads and contacts ✓ handle sales calls and follow-up ✓ have the most current data to help price your home or determine your buying power ✓ make sure all of your real estate forms are completed accurately to refl ect your intentions ✓ have the most current data to help price your home or determine your buying power ✓ arrange advertising and host open houses ✓ sweat the details to reduce your stress ✓ protect the interests of their clients and treat all parties honestly ✓ abide by a strict Code of Ethics ✓ are experienced negotiators ✓ network with other realtors to help market your property ✓ are hired by 9 out of 10 buyers in the homebuying search ✓ suggest practical home staging tips

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AGENT FINDER REALTOR’S CORNER

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North Central Washington

Homefinder’s WEEKEND

WEEK OF JUNE 2ND

June 2 & 3, 2012

N<<B<E; FG<E ?FLJ<J Saturday Open Homes $355,000

421 S. Lyle Open Sat. 1-2:30 Charming country setting on 1/2 acre. 3 beds, 2 baths, 3 car garage, RV parking and SHOP. Deck with mountain views, rural setting yet close. Directions: 3rd St., past Costco, to 4th and across Kentucky, right just past Clovis to S. Lyle. Laura Mounter Real Estate & Co. Jason O Daffer 206-240-3298

ED L L E C N CA Wenatchee

$169,900 1032 Washington St. Open Sun. 1-3                                     Premier One Properties Jeannie King 679-5150 $179,500

115 Quail Run Blvd. Open Sun. 1-2:30                             Debra White Real Estate Group Tana Wood 433-0091

Wenatchee

$254,500

17 Sunburst Lane Open Sun. 11:15-12:45                                       Laura Mounter Real Estate & Co. Jan Widener 670-2444

$239,950

1441 Copper Loop Open Sun. 12-3 Open Saturday 12-4 and Sunday 12-3. Tour our model home 3 bedroom rambler. Stop by and lets talk about a pre-sale. Ramblers, Tri-Level, 2 Story. Timberwood Homes Wenatchee s Premier Builder. Directions: SE 4th Street to Kansas Windermere Real Estate/NCW Julie Jessup 670-6637

2304 Fancher Blvd. Open Sun. 2-4                                              Premier One Properties Jeff Benson 630-6859

$727,500

$249,900

$349,000 191 N Lyle Open Sun. 2-3:30 Immaculate rambler 3 bed, 2 bath, additional guest quarters. Lots of privacy, large back deck, irrigation water, 3 car garage. Directions: Grant Road, North on Lyle. Century 21 Exclusively RJ Wallis 670-2007

900 Golden Crest Dr. Open Sun. 2-3:30                                         Premier One Properties Kay Stevens 421-4915

346 N. Newton Ave. Open Sun. 12:30-3 Spacious Great Room, large windows, lots of light! Granite kitchen counter tops, formal dining room. Exclusive Master. Enjoy serenity and a mountain view, 3 bed, 2 bath. Large fenced lot. Directions: Grant Rd., left on Nevada, right on 3rd, left on Newton. Premier One Properties Steve Bishop 679-7004

Sunnyslope

$254,900 2395 Fancher Field Rd. Open Sun. 1-3 1st time open! In-ground pool. Home boasts 1940 sq. ft., 3 bed, 2.5 bath. Bayed Living, Dining and Nook, Kitchen with island. Curbing and concrete RV parking pad. Hot tub. Directions: Eastmont to Fancher Field Rd., thru stop sign, house on right. Premier One Properties Rich Rimbach 670-5843

$260,000

281 Lilly Lane Open Sun. 12:30-2                                           Laura Mounter Real Estate & Co. Norma Jessup 670-8340

East Wenatchee $129,075 1405 Grant Road Open Sun. 12-1:30 3 bedroom, 1 bath home on corner lot. Detached one car garage. Directions: North side of Grant Road. Century 21 Exclusively RJ Wallis 670-2007 $165,000

558 Canyon Drive Open Sun. 1-3                    John L. Scott Wenatchee Jackie Gabaldo 860-4456

$258,900 103 27th St. NE Open Sun. 11:30-1 So easy to like...Master on main, views of the Cascades, updated kitchen. Irrigation canal creates calm, quiet views, waterfall and patio + RV parking! Directions: North on Baker, left on 27th. Century 21 Exclusively Betsy Loomis 669-6464 $259,950 1500 Country Club Dr. Open Sun. 12-2                                      Windermere Real Estate/NCW Tim Seyster 669-5786 $265,700 1971 SE 4th St. Open Sun. 1-3                                          Coldwell Banker LaVigne Debbie Chase 630-0235

$292,000

$170,000

$314,500

406 S. Elliot Open Sun. 2-4                          Century 21 .Exclusively Betsy Loomis 669-6464

$184,900

1217 N. Ashland Ave. Open Sun. 1-3 This home includes 1872 sq. ft,, 3 beds, 2.25 baths with a potential 4th bed in the basement. Enjoy your in ground pool, large fenced back yard with a detached 2 car garage, plenty of parking space. Directions: Sunset Hwy, right on 13th, right on Ashland Premier One Properties Tom Kriskovic 669-3201

$269,900

$338,900 2017 Center Court Open Sun. 12-2                                   Coldwell Banker LaVigne Linda Bondo 860-2398

$239,900 322 S. Mary Lane Open Sun. 1:30-3                                         Laura Mounter Real Estate & Co. Kandi Wilson 433-1225

$275,000

1730 County Club Dr. Open Sun. 12-2                                          Windermere Real Estate/NCW Jolly Seyster 670-2500

$349,900

$239,900

$299,000 1931 NW Cascade Open Sun. 2:30-4 Perfect opportunity for home business, day care or ? Quality built one owner home, plenty of space for kids to ride dirt bikes, 30 x 40 shop/ RV garage for dad. Directions: North on Sunset Hwy, left on 19th NW, right on NW Cascade. Laura Mounter Real Estate & Co. Norma Jessup 670-8340

701 Woodward Open Sun. 1-3 1/2      3+    /     !    y!    5      Century 21 Exclusively Annette Johnson 630-6107

2106 Sutton Place Open Sun. 12-1:30                                          Premier One Properties Kay Stevens 421-4915

East Wenatchee

2017 Broadhurst Pl. Open Sun. 1-2:30                                       Laura Mounter Real Estate & Co. Cindy Smith 664-6278

$185,000

1914 Mulberry Lane Open Sun. 12-2 3 bedroom, 2 bath rambler. Family room off the kitchen. Fenced back yard with big deck. Needs a few cosmetic updates, but overall in good shape. Excellent neighborhood, close to Rotary Park. Directions: Western to Mulberry Lane. Windermere Real Estate/NCW Cindy Seyster 670-6466

East Wenatchee

$465,000

531 Nahalee Open Sun. 1-3                                              Premier One Properties Mae Hamilton 630-1104

343 N. Newark Ave. Open Sun. 12:30-3                                       Premier One Properties Steve Bishop 679-7004

2178 Blackstone Court Open Sun. 1-3 2012 4 bed, 2.5 bath home in newer development. Custom cabinets, granite counter tops and hardwoods adorn the custom kitchen. Master features 2 closets with built-ins. Directions: North on Baker, right on 21st, left on Blackstone Ct. Century 21 Exclusively Gene Palmquist 393-9820

$319,000

$350,000

661 Briarwood Terrace Open Sun. 12-2                                      Premier One Properties Jeff Benson 630-6859

$369,000

110 S. Meadowbrook Lane Open Sun. 11:30-1                                           Laura Mounter Real Estate & Co. Kandi Wilson 433-1225

$509,000 189 Red Fern Road Open Sun. 1-3 Great Price! This 5000 sq. ft. home has just been reduced by $20,000. Great living spaces with 5 bedrooms, large lot, huge garage. Directions: Easy Street to E. Peters to Burch Mtn. to Red Fern. Century 21 Exclusively Lee Hilderand 669-7601

Cashmere $167,900

5885 Pioneer Dr. Open Sun. 1-3                                         NCW Realty Patti Davis 670-4690

$449,950

50 McGhee Lane Open Sun. 1:30-3 THE BEST IN COUNTRY LIVING! CUSTOM 3,290 sq. ft. home on 9.08 ACRES with garage, 40 x60 SHOP. Vaulted ceilings, Prow windows, gourmet kitchen, wrap around deck. Views! Views! Views! Directions: 4.2 miles up Nahaham Canyon, left on McGhee. Laura Mounter Real Estate & Co. Jan Widener 670-2444

Entiat $174,900

14601 Pearl Ct. Open Sun. 12-2                                  Century 21 Exclusively Harold Jones 699-1214

$179,000

14605 Pearl Ct. Open Sun. 12-2                                        Century 21 Exclusively Karen Boghokian 860-9052

For additional information on these Open Houses visit: www.ncwaropenhouses.com

OPEN HOUSES See Our Open Houses and other Fine Listings at www.century21exclusively.com

135 N. Mission Wenatchee, WA • 509-662-2100

HomeFinder’s Weekend section is viewable all weekend

homes.wenatcheeworld.com

PM 3  1 . SUN N E P O 368 Whitebirch Place, Wenatchee Very nicely remodeled home on tree lined street. Two bedroom/1 bath rambler with attached garage on professionally landscaped flat lot!

Carlson $179,900 Laurie 509-393-9010

Coldwell Banker LaVigne

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✓ Homeownership offers immediate benefi ts and long-term value. It helps build wealth over the long term, strengthens communities, and has been shown to reduce crime, improve education and increase community involvement. ✓ Homeownership matters to individual families, communities and the nation’s economy. ✓ Realtors® are trusted resources for real estate information and can help home buyers navigate the increasingly complex home buying process.

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$392,500....... NAHAHUM CANYON 20 ACRES, LOG HOME. 5 miles from Cashmere on paved county road. 2,800 square foot scribed log home with 2009 kitchen and baths. 3 bedrooms, 3 baths, barn, cross fencing, views & privacy. MLS# 698289 Kathy Emerick, 509-421-5934

$350,000...................WENATCHEE Price Reduced! Northwest contemporary, captivating views, immaculate, cathedral ceilings, 2 fireplaces, Master Suite + 4 bedrooms, 2 baths, stainless appliances, formal dining & nook, covered deck, private back yard. MLS# 697175 Iris Cole 679-1511

$279,900...................... SUN COVE Great Vacation or Second Home! 3 bedrooms, 2.5 baths, 2,475 sq ft, Columbia River access, new appliances, awesome views, wrap around deck. Years of family fun or great investment property! MLS# 698318 Jamie Wallace 670-3305

$275,000.....................PESHASTIN Charming country home! Large lot, 3,068 sq ft, 3 bedrooms, 2.5 baths, master suite with sitting room. Open floor plan, vaulted ceilings, natural light, mountain views, beautiful deck, and spacious shop. MLS# 698331 Geordie Romer 679-8958

$159,900...................WENATCHEE 1920’s Charm & Personality! 2 bedrooms+ 3rd non conforming bedroom, 1.5 baths, private backyard, alley access, storage galore, easy yard, friendly neighborhood, sprinklers, updated appliances & more. MLS# 698350 Christie Kay 630-8289

Windermere Real Estate / NCW

662-7184 • 1-800-841-0055 www.windermerewenatchee.com

200 ROLLING HILLS LANE—WENATCHEE This is a beautiful home with room for everything! 4 bd. 3.5 bath with a HUGE shop and Bonus living space that is wired and plumbed for a 2nd full kitchen. Kitchen has granite countertops with beautiful slate floor. Opens to eating area and nice size family room. Formal Dining room and Living room. Shop and additional living space have separate heat pump. This is a must see! $399,900, Please Contact GARY MULLEN @ 679-4132 For more information. MLS# 697642

215 PEAR LANE – WENATCHEE Well maintained 3br, 1.75 bath rambler with separate living, dining and family rooms. Vaulted ceilings, fireplace and updated baths. Beautiful .28 acre lot with irrigation water, shade trees and a large patio for entertaining. 100 yr siding and double pane vinyl windows make this house an economical choice! Large RV parking area in front and possibly room for a detached shop! $247,000. Please contact PAUL MARES @ 670-2119 for more information. MLS# 698094

3647 BURCHVALE – SUNNYSLOPE A rural neighborhood with good folks next door. Come home to peace and quiet and a peek-a-boo view of the Enchantments. Three bedrooms, 2 1/2 baths, a comfortable family room with gas fireplace and you’ll enjoy the formal sitting room as well. Formal dining room and beautiful master bedroom. $299,900. Please contact STEVE SCHWIND @ 421-1150 for more information. MLS# 697845