What a year we had in 2008! At the beginning of 2008 the Real Estate industry had just recovered from one of the strongest growth periods in decades.  2004 thru 2007 saw record breaking appreciation rates across the country.  Entering 2008 we came to understand what happens when rampant growth collides with low lending standards in the mortgage industry.  When it became apparent that most of the people who obtained these loans couldn’t make their payments the entire mortgage industry collapsed.

Sellers rushed into the market to sell their properties before the market went down any further.  By doing so they created a surplus of inventory and prices had to be reduced to make sales.  Buyers came flooding out of the market to fence-sit and wait to see where the actual bottom was and wondering if the market would go down any further before they bought.

2008 was a necessary market correction and even though it was considered a year of adjustments, corrections and protections by the government we still had a decent sales year in Lake Chelan.  If you are a Buyer and plan to spend part of your year in Lake Chelan prior to retirement and then relocate here after retirement this is an excellent time to make a deal.  Inventory levels are higher than normal and prices have rolled back to 2006 levels.  This will not last for long which is good news for our Sellers as historically Chelan County has had an average appreciation rate of 9% annually for the past 30 years. 

With our wine industry growing and soon to be ava designation Lake Chelan will soon become known as one of the premier grape growing areas in the country.  Property prices will rise again and for the Buyers who want to take advantage of the lower pricing you should be searching now.  Give me a call at 509.670.2223 or send an email to me at:  kimskaar@msn.com and I will send you out a free relocation package with properties to choose from, local events and information about the Chelan Valley.

                                     Let My Experience Work For You!

Life is good at Lake Chelan

Call Kim today!
Cell Phone: (509) 670-2223
Office: (509) 682-7777
Fax: (509) 682-0858
Toll Free: (800) 572-9531
E-mail: kim@chelanproperty.com

                 The only thing better than visiting Chelan     ... is Living Here!