Joni Pepperl was just named “Best Real Estate Agent” by the Wenatchee Business Journal, as a result of its 2012 Readers’ Choice Awards. The publication notes that “an overwhelming number of ballots in her favor” were received by their office.

“Thank you to all of my friends and supporters who took the time and effort to vote for me for this honor,” Joni says. “I really appreciate your support, and look forward to continuing to do what I do best–help people buy and sell homes!”

Joni specializes in residential sales, and can be reached at (509) 669-2121.

Nothing strikes more fear in the hearts of Wenatchee real estate Buyers and Sellers than the home inspection. Few Buyers agree to move forward on a home purchase without having an inspection done, and many Sellers are unprepared for this process.

Would your home pass with flying colors? Or would you be faced with a lengthy list of repair requests? Exactly what happens during a home inspection?

 Most Wenatchee home and condo Buyers hire and pay for a professional home inspector. The cost of this is usually $250 to $350. If the Seller agreed to provide a clear pest report, the Seller will pay for a pest inspection of the Wenatchee Valley home or condo, which usually costs between $75 and $175.

 The Buyer must get the inspection completed within the agreed-upon timeframe in the purchase and sales agreement, usually 10 days from joint agreement. The Buyer must make any requests of the Seller within that timeframe.

 The inspection takes about two hours. The inspector will look at the roof, heating and cooling system, electrical system, plumbing, attic, crawlspace, and other areas of the home. The inspection will focus only on safety and structural issues, and not cosmetic ones. The Buyer often likes to be there during the inspection to hear what the inspector has to say and to learn more about the operational features of the home.

The inspector submits a written report, usually within 24 hours of the inspection. The home report, which can be 20 pages long or more, goes to the Buyer. The pest report, which is much shorter, goes to the Seller. The agents for each side facilitate getting this paperwork to their respective clients.

If the Seller of the Wenatchee home or condo agreed to provide a clear pest report, all items on the pest inspection must be corrected. The inspector will need to come back to sign off, if there were corrections to be made. A clear pest report then goes to the title company.

Though the Buyer can opt to pull out of the sale as a result of the inspection, most Buyers choose to negotiate with the Seller on corrections. The Buyer should ask: Is this correction really vital to me? Could I fix it myself? What will it cost to have it corrected? Will it affect my enjoyment of the property? Am I willing to walk away from the purchase if we can’t reach agreement?

The Wenatchee real estate Seller should ask: What will the Buyer’s request cost? Am I willing to risk this sale by not agreeing to make a correction? Will future Buyers ask for the same thing?

Wenatchee home sales can and do fall apart at the inspection stage, so making sure your home is in good repair before putting it on the market can help to relieve the anxiety of the inspection process.

      Has it always been a dream of yours to build a home, designed just for you? Well, this couldn’t be a better time to do it. Land is available and qualified, talented builders are looking for projects.

      Before starting, talk to a lender. Find out what kind of construction loan packages are available. Though different lenders offer different packages, most base the loan on the cost of the land plus the cost to build, known as the cost of acquisition. Good credit scores and at least a 20% down payment are required. Monthly payments during construction will generally be at a slightly higher interest rate, and the loan will be restructured after construction is complete (usually in 10 months). Banks like contractors of record to be in charge of the project.

      A range of land options are available, from acreage to neighborhood lots, including new neighborhoods such as Sunnyslope Meadows off Knowles Rd., Red Hawk Canyon off Fifth Street in Wenatchee, and Breckenridge off Baker past 27^th Street in East Wenatchee, to name a few.

     Though most people have a dream of building a dream home by a gurgling brook with a fabulous view, the reality can be a bit different! When purchasing vacant land, Buyers are allowed a feasibility period to do a thorough review to make sure the property fits their needs. The default time frame for the feasibility period is 30 days, but can certainly be longer if both parties agree to this.

     During this period, the Buyer is allowed to access the land to do perk tests for septic, soil tests, engineering studies, and to bring a contractor in for an opinion. Any test holes, etc. done during this investigation must be restored to the original condition at the Buyer’s expense. The Buyer should also thoroughly explore the availability of utilities, water, and whether sewer is available, as well as the connection fees. Are there setback or height restrictions that would restrict what can be built? Does the property contain wetlands or other environmentally sensitive areas that will need to be respected? You’ll want to talk to appropriate city and county agencies, as well as any special district that can help you develop insight into the property.

     We ask Buyers to never rely on oral statements from the Seller or the brokers, but to research each of these areas independently. If you find that the property will not accommodate what you were hoping to build, you do have the right to rescind the offer and get your earnest money back, as long as this happens within the feasibility timeframe.

     Building a home can be one of the most exciting and rewarding experiences of a lifetime, but do your research first to make sure you have no regrets later.

Wenatchee real estate sellers frequently ask what kind of a resale return they can expect if they invest in a range of different home improvement projects. In an ideal world, people like to think they will not only get every penny back, but will make a tidy profit as a result of the effort. In the real world, it isn’t so “cause and effect.” While some home improvements might help you sell faster in a competitive market (which is certainly a valuable reason for doing them), not all (if any) will return 100 percent of the cost back to you.

 The most obvious improvements—a fresh coat of paint, repairs where needed, and simple enhancements to the landscaping—are no brainers. For the most part, these are going to help improve your final sales price, no matter what kind of a selling climate we are in. Plus the cost of completing such projects is low, basically involving time and effort more than a large outlay of cash.

 But what about more extensive projects? For example, will remodeling your kitchen result in a higher sales price? How about adding a bathroom? Or adding a fourth bedroom?

Before tackling a bigger project, it’s important to research current sales figures for homes in your area. You don’t want to find yourself in the uncomfortable position of over-improving your Wenatchee area home or condo. If sales prices have topped out at a certain range, then it is going to be difficult to exceed that, even with the improvements in place. You would be better off adjusting your price to offer a competitive value, rather than inflating the price to accommodate your improvements.

If your home is surrounded by others that already have these improvements in place, and the area has a track record of higher sales, then it does make sense to consider making upgrades. Realtor magazine, in a recent issue, offered some general statistics for several key improvements. In the Pacific Northwest, a kitchen remodel can recoup around 68% to 73% of the cost at resale. A bathroom remodel can recoup about 64%, while a bathroom addition is more likely to come in at 53%. Adding a master suite can recoup about 63% of the cost. Replacing a dented or worn garage door can recoup about 84%.

 All too often, I see Wenatchee real estate sellers scramble to improve their homes right before getting them on the market, wistfully remarking that they wish they had done the upgrades sooner so they could have enjoyed them. My advice is to upgrade because you want to enjoy the results. Potential resale of your home or condo in Wenatchee should be only one consideration; quality of life is what counts in the long run. Do the projects that will bring you enjoyment and make your home in the Wenatchee Valley a haven from a hectic world.

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The Wenatchee condominium market in our area has seen some strong movement in recent weeks, following a trend that began last year. In fact, 52 condos closed in Wenatchee and East Wenatchee in 2010

Stoney Court Condominiums, off Western and Central in Wenatchee, have sold out, with all 22 units now closed.

The Montebello complex, off Baker and 11^th in East Wenatchee, has been selling at a good pace. Construction is nearing completion on the second building, with a few pending sales already in place, and the first building only has a small number of units still available.

 Approximately 40 condo units are currently available in Wenatchee/East Wenatchee, ranging in price from $70,000 to $450,000. They cover a range of floor plans, sizes, and amenities, from smaller one-bedroom units to large detached units that are very similar to single-family homes. Complexes include those that are targeted for people aged 55 and older, as well as those without age restrictions. Popular condo complexes have included Cherry Lane, Riverwalk, Heatherwood, Fontanelle, Continental, Racquet Club, and Castlerock Village in Wenatchee; Ironwood, Stoneridge, Edgewater, Canyon Creek, and Ambercrest in East Wenatchee. This is by no means an exhaustive list, but does give a good idea of the range and variety of choices out there.

 The Wenatchee Valley condo market is a specialized one, with its own set of rules and regulations. As agents, we recommend that our clients not only have the home inspected like any other, but also spend time researching the condominium association to know what to expect. Is the association run by volunteers who live there or is it managed by a professional management company? What are the monthly association dues and what do they include? Dues can include water, sewer, garbage, exterior maintenance, exterior insurance, road plowing, and other services, so a savvy Buyer will want to compare that to what he or she would be paying for a single-family home. Does the complex come with amenities such as a pool, clubhouse, or common areas? How often does the association meet? Are there restrictions on pets? What about parking? Will there be places to store larger items, outside of your unit? Is the complex well maintained in terms of landscape, exterior and interior lighting, and other repairs?

It makes sense to review the financial records of the condo association as well, before making a final selection. Are they any maintenance/upkeep projects coming up that could affect the dues? Have the dues remained stable or do they have a history of going up every year?

 Wenatchee condos have represented a healthy segment of sales in the last year in our area. The Wenatchee Valley market responds to correct pricing, attractive designs, and convenient locations. It offers a wonderful option to the Wenatchee area Buyer who wants convenience, security, and an easy-care lifestyle free of most yard work and exterior maintenance.

Selling your home in Wenatchee is as much an emotional experience as a financial one. How do you put a price on a place that has provided refuge and shelter, and has served as the backdrop for family events, gatherings of friends, and the ups and downs of life?

It’s a difficult task even in a booming real estate market. In Wenatchee’s current, more challenging real estate market, the task is that much harder—but proper pricing is absolutely critical for success.

It’s vital to focus on three factors:

• Current listing prices of homes and condos available on the Wenatchee real estate MLS
• Recent sales prices of Wenatchee area homes or condos like yours
• Expired Wentachee real estate listings

It is important to understand your market

Current listing prices show us the homes in the Wenatchee Valley that yours will be competing against. A buyer will be looking at these, and comparing them to yours. Take a close, objective look at their features, including the square footage, year built, yard size, recent remodeling, amenities, location, etc. Keep in mind that the price listed for each home or condo is the owner’s and realtor’s best determination. The home may or may not sell at that price. The seller’s personal timeframe, desired return, and sentimental attachment may have affected the pricing decision. Frankly, in Wenatchee’s high-inventory real estate market, your home needs to be a top competitor—the best offering at the best value—in order to get the attention it deserves.

Recent Wenatchee home and condo sales prices are a more accurate reflection of the marketplace. They show you what homes similar to yours actually did sell for and hone in on what a buyer might be willing to pay for yours. In today’s market, Wenatchee realtors try not to go back any further than three to six months in tracking sales. The market on Wenatchee homes, condos, and land is changing rapidly, and sales before that may not reflect today’s picture.

Expired listings show Wenatchee area homes and condos that, for one reason or another, did not sell before their listing periods ended. In most cases, the home was probably priced too high, though other factors may have prevented a timely sale. You’ll want to study these as well, to make sure you don’t fall into the same trap as these Wenatchee real estate sellers did.

Though many sellers like the idea of pricing on the high side to “leave some room for negotiation,” here’s the sad truth. The first few days of a listing, or “coming out of the gate,” as I like to call it, can set the tone for your entire sales experience.  Being priced too high at the beginning will result in fewer showings, less interest, and almost always a lower sales price than you would have received if you had priced it right at the beginning! Finding yourself in the position of having to do several price drops over time is not a position of strength. Buyers may perceive the listing as stale, and will move on to newer offerings.

This is a changing market, but Wenatchee area homes and condos are indeed selling on a daily basis—just ask those of us who are in the Wenatchee real estate industry, working every day. Interest rates are at historic lows and buyers are out there, looking for the right fit. Wenatchee real estate sellers willing to respect the needs of the marketplace will see comfortable returns.

Joni Pepperl
Laura Mounter Real Estate & Co.
Cell: (509) 669-2121