Wenatchee getting the recognition it deserves best kept in US

Buying & Selling Real Estate
7yFollow

Wenatchee getting the recognition it deserves best kept in US

Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

Wenatchee  best kept secret in the US.. Money magazine has it as top 25 places to retire..  Recreation paradise.

apples have been replaced by vineyards and wineries.. Lake Chelan one of the 10 wonders of America.

Leavenworth..  Columbia river for Salmon and water skiing.. it has it all. and no income tax..

Podcast Guest on Show #222
JLH Capital Partners51 Review
WebsiteView Page
4Reply
183 views

Most Popular Reply

Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
7y
Originally posted by @Jay Hinrichs:
Originally posted by @Kyle Gillespie:

Wenatchee is terrible 😉, best kept as a secret!

you know Bend blew up.. and I get it better high end golf courses and Mt. Bachelor is a better ski mountain than most anything in Washington.. But I still think no state income tax's  better weather.. and more variety.. its just a winner.  

 I'm with you here, Kyle. Shh!  My commute is increasing from 5 to 7 minutes with all the newcomers. That's 50%! LOL

Thanks for referencing the article, Jay.  I'll take a look when I get done chopping up some new powder. Merry Christmas to you!

3Reply
See this reply in the discussion

56 Replies

Jump to latestLatest
  • Caleb Webster
    Real Estate Agent · Portland, OR · Member since 2017 · 117 posts · 59 votes
    7y

    And Mission Ridge is expanding too!

    0Reply
  • Kyle Gillespie
    Member since 2018 · 7 posts · 1 vote
    7y

    Wenatchee is terrible 😉, best kept as a secret!

    1Reply
  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Kyle Gillespie:

    Wenatchee is terrible 😉, best kept as a secret!

    you know Bend blew up.. and I get it better high end golf courses and Mt. Bachelor is a better ski mountain than most anything in Washington.. But I still think no state income tax's  better weather.. and more variety.. its just a winner.  

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    7y
    Originally posted by @Jay Hinrichs:
    Originally posted by @Kyle Gillespie:

    Wenatchee is terrible 😉, best kept as a secret!

    you know Bend blew up.. and I get it better high end golf courses and Mt. Bachelor is a better ski mountain than most anything in Washington.. But I still think no state income tax's  better weather.. and more variety.. its just a winner.  

     I'm with you here, Kyle. Shh!  My commute is increasing from 5 to 7 minutes with all the newcomers. That's 50%! LOL

    Thanks for referencing the article, Jay.  I'll take a look when I get done chopping up some new powder. Merry Christmas to you!

    3Reply
  • Bryan O.
    Specialist · Lakewood, CO · Member since 2014 · 1k+ posts · 1k+ votes
    7y

    @Steve Vaughan not being a skier myself, when I saw you say "take a look when I get done chopping up some new powder" I started to wonder if something was wrong  ;)

    haha!

    3Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    7y
    Originally posted by @Bryan O.:

    @Steve Vaughan not being a skier myself, when I saw you say "take a look when I get done chopping up some new powder" I started to wonder if something was wrong  ;)

    haha!

     Oh man, that does look bad.  Said it on the fly and should know better after watching Narcos Mexico and 1&2! 

    Yep, skiing. Snow powder. LOL

    1Reply
  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Steve Vaughan:
    Originally posted by @Bryan O.:

    @Steve Vaughan not being a skier myself, when I saw you say "take a look when I get done chopping up some new powder" I started to wonder if something was wrong  ;)

    haha!

     Oh man, that does look bad.  Said it on the fly and should know better after watching Narcos Mexico and 1&2! 

    Yep, skiing. Snow powder. LOL

    just popped on Zillow for fun..   really nice looking freshly renovated 4 plex for 359k.. Perfect for a young couple starting out to house hack.. not only could they live for free but probably have a tad of positive cash flow..   

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    2Reply
  • Andrew Gingerich
    Rental Property Investor · Wenatchee, WA · Member since 2018 · 99 posts · 103 votes
    7y

    Dare I say cheapest power in the nation too? Lots of benefits to this place. I agree Steve, I actually have to wait to cross Eastmont now since the north end extension went in a few years ago. 

    I do wish the public school test scores were a bit higher. 

    Forbes and the Seattle times covered the Wenatchee Valley in 2017 (25 best places to retire list) https://www.seattletimes.com/seattle-news/wenatche...

    Steve, I enjoyed this read last summer too, http://www.spokesman.com/stories/2018/aug/25/seatt...

    I will say this though, the median household income relative to home price gives me pause. Suggests to me that as long as retirees from Cali, Portland, Seattle continue to come here we're okay, but if those faucets turned down, even modestly, it would have an effect on the local home values and greater economy. The rental economy is likely to continue to flourish.  

    I do love retirees, they pay property taxes and keep appreciation rolling but aren't very demanding on local public systems such as schools since the kids are long gone. Now if we could just get local kids and their parents a little more invest in their education. 

    Cheers all. Thanks Jay for the start to this one.

    1Reply
  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    @Andrew Gingerich  I don't think many in the US understand the quality of life that can be lived in that valley.

    No real threats of major storms or twisters.. NO earthquakes. NO humidity that blast you out of the out doors.

    winter can be a little cooler but not that much more than say Vegas were I am hanging out in the winter. 

    Would be great if some tech or other industry would pop into that area to strengthen the upper end job markets.. 

    Maybe we just need a good ole aluminum plant :)  Like the many that used to front the Columbia River .. 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    Also Pangborn has 7000 feet and can handle tandem landing gear which means jet service..  Jet service opened up BEND/REDMOND..  And maybe there is Jet service now..  but Jet service to Kelowna BC blew it up as well.

    Maybe there is jet service there now..  but if they had a once a day or twice a day from SF or LA 

    that would do it..  Medford has that..   Although looking at some of the new construction it rivals price per foot as some of the surrounding cities here in Portland as well and right in the same ball park of what we build.. 

    I guess the only negative is the dust.. and sand. 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Andrew Gingerich
    Rental Property Investor · Wenatchee, WA · Member since 2018 · 99 posts · 103 votes
    7y

    Jay, completely agree. Fire is a threat particularly to communities like Leavenworth. But Wenatchee is relatively insulated from major disasters. 

    I'm originally from a humid climate and I'll take the dry/hot temps any day of the week compared to 85 F and 85% humidity! 

    Yes, some higher end employment would be ideal. I think it's on it's way. The agriculture industry employs a lot of people in this valley, but most of these jobs are lower paying and seasonal, reducing annual income numbers. I do think the lower price of power is attractive to tech and other industries, therefore, we'll continue to see that grow (T-mobile's here and several data farms just south of us in Grant County (~25 min drive). Bitcoin... was here until... well you know. ;)

    Nice AA reference! It's been a while. 

    I'm only about 1/2 way to your podcast but I have a long drive this afternoon so I've cheated and t'd yours up!

    Merry Christmas

    @Jay Hinrichs!

    1Reply
  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y

    @Andrew Gingerich  to be fair the reason also I am keen on that area is my Dad was raised there in the 20's and 30s my grandfather had a hardware store in Chelan.. during the depression he won the contract to supply pots pans silverware to the Grand Coulee ..  so I have been visiting that area since the early 60s  and my dad telling me stories of growing up there before he shipped out for a 6 month tour in WW 11 that last 5 years :).. 

    Its all that east slope semi desert and as we know its just the northern part of the Sonoran desert that starts down in Northern LA and ends up running up the east side of the mountains through Bend  Wenatchee and its ends In Kamloops BC.. 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Bryan S.
    Rental Property Investor · CA · Member since 2018 · 225 posts · 180 votes
    7y

    @Jay Hinrichs it is a nice quiet little town, I used to go stay there while working in Quincy.

    1Reply
  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Bryan S.:

    @Jay Hinrichs it is a nice quiet little town, I used to go stay there while working in Quincy.

     Having been raised in Northern CA I saw what the wine industry did to Napa Sonoma counties.

    and what has happened out towards Walla Walla..  you start putting in world class wineries in that valley and then the resturants 

    follow along with nice places to stay then travelers find it and come back to live.. 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • Bryan S.
    Rental Property Investor · CA · Member since 2018 · 225 posts · 180 votes
    7y

    I am in Benicia, about 15-20 minutes from Napa, heck, even Suisun Valley is now getting vineyards.

    0Reply
  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Bryan S.:

    I am in Benicia, about 15-20 minutes from Napa, heck, even Suisun Valley is now getting vineyards.

     My sister in law owns the Benecia coffee company on Columbus parkway 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Bryan S.
    Rental Property Investor · CA · Member since 2018 · 225 posts · 180 votes
    7y

    Awesome, I am very close to there.. I am not a coffee drinker but I will go for my wife.

    0Reply
  • Chris Miller
    Residential Real Estate Broker · Moses Lake, WA · Member since 2016 · 49 posts · 22 votes
    7y
    Originally posted by @Jay Hinrichs:

    Also Pangborn has 7000 feet and can handle tandem landing gear which means jet service..  Jet service opened up BEND/REDMOND..  And maybe there is Jet service now..  but Jet service to Kelowna BC blew it up as well.

    Unfortunately, the approaches to the runways are horrible and the airport is shut down with the fog.

    1Reply
  • Terrence McIver
    Rental Property Investor · Wenatchee, WA · Member since 2017 · 3 posts · 2 votes
    7y

    Jay- thanks for the shout out to Wenatchee! There are many perks for those who love moderate climate with lots of sunshine yet only a quick drive into the cascades for world class hiking, skiing, ETC. There has been a steady increase in retirement relocations. The local medical community is a factor for that group as well. Little town destinations like Leavenworth with it's many Bavarian festivals, and Chelan for it's summer fun are within a thirty minute drive of Wenatchee. Have you done any investing in the Wenatchee area? 

    1Reply
  • Carl PolsonPro Member
    Investor · Wenatchee, WA · Member since 2018 · 7 posts · 4 votes
    7y

    Wenatchee is a great place to live, I love it here, but trying to figure out the best niche on breaking into the rental market here. It seems most houses in Wenatchee or surrounding areas are usually in the $300k range (2-3 bed/1-2 bath). I’m not afraid of rehab work, but with even a cheaper house with rehab work, the average rent is usually $1200-1500 in this area. I’m obviously a newbie but can’t quite to get it to pencil out in investments I’ve looked at in this area yet.

    0Reply
  • Terrence McIver
    Rental Property Investor · Wenatchee, WA · Member since 2017 · 3 posts · 2 votes
    7y

    Carl Polson- That's a great point you make about the average price of homes in Wenatchee. Single family houses are great due to their long term ability to maintain value, and if you buy right- provide income. So, the question is how to make a 300+/- house do both. I purchased my first rental- a 2 bed 1 bath on Highland Dr. a little over a year ago using the equity (HELOC) + some cash we had saved. We payed $219k for the newly remodeled house and put over $100k down, which left around $108K on a 30 year fixed rate loan at 4.25% investment loan (we payed down points to get that rate but considered it worth it because we plan to keep it long term). Anyway, the mortgage payment is only around $750 including tax/insurance so the house brings in great long term monthly cash flow. The second investment property we bought this summer and payed $299k for. We put far less down and it still cash flows around $200 per month. I think the key is buying in good neighborhoods (all three of our homes are between Miller st and Okanogan Ave near the hospital). They are all simple but have nice curb appeal and nice internal living arrangements. In hindsight, I might not have put as much down on that first house and used that money to leverage more deals- but I'm learning as I go. I'm currently trying to figure out my next deal. Hopefully it will fit the same criteria as the previous ones! Take care!

    1Reply
  • Nik Moushon
    Architect · Wenatchee, WA · Member since 2018 · 843 posts · 907 votes
    7y

    Wenatchee was also ranked #8 on the top 25 places to own a second home in the US. There are a TON of retirees here in the valley. This is what has driven up the median house price to the $350k-400k range. Much higher than what most median income families can afford.  Homes the are below $275 almost always have multiple offers but are usually pretty small in size. The other thing driving up home prices is just the lack of inventory, which in turn is caused by the sheer lack of buildable land. Another driving factor that has limited the housing growth is actually the industry that supplies the valley with its largest source of jobs: the agriculture. Since it brings in so much its very protected. Several of the smaller surrounding cities have made it next to impossible to build anything that would take out anything ag. Even if the orchards are not worth farming anymore or the farmer doesnt want to tare out and re-plant. I've personally seen several projects killed because the local gov goes out of their way to make it so development stays out of their town. Its frustrating. 

    With that said though there is still plenty of building. The number of apt that have been built this year have tripled from last year. It has now bumped our vacancy rate to a whopping 2%. Between lack of land in general and contractors pricing at a premium its pricy to build. A couple of projects that my office is working on are actually having trouble with the banks because contractors are still trying to price things at a premium. 

    0Reply
  • Jay HinrichsBusiness Member
    OP
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Chris Miller:
    Originally posted by @Jay Hinrichs:

    Also Pangborn has 7000 feet and can handle tandem landing gear which means jet service..  Jet service opened up BEND/REDMOND..  And maybe there is Jet service now..  but Jet service to Kelowna BC blew it up as well.

    Unfortunately, the approaches to the runways are horrible and the airport is shut down with the fog.

     I have flown in there many times but not hard IFR.. looks like the approaches though have an Two ILS and an Rnav from the south.

    and given the fact that the weather there is clear blue 320 plus days don't think weather is an issue for commercial traffic.

    As stated I always enjoyed flying into Pangborn..  90% of the time I was coming from PDX so would come from the south up the river.

    I might have landed there once coming from the north.. but for me if I had to land to the south would mean weather was to severe and I would avoid.

    Chelan has a challenging airport that is fun to fly into.. I have been into that one Omak and the one at Oroville when clearing customs.

    Its quite often we fly east side to avoid west side weather.. at least us little plane flyers. I fly a Cirrus SR 22

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Nik Moushon
    Architect · Wenatchee, WA · Member since 2018 · 843 posts · 907 votes
    7y

    As for the airport its is starting to expand. It just got more daily flights to Seattle. Slowly growing. 

    As for tech the valley has already attracted a lot of attention. We have an artificial diamond plant and lots of bit coin companies making their way to the valley. Quincy, about 20 min away, has I think 4 or 5 very very large server farms. Unfortunately those dont require a large staff those they dont bring a lot of jobs with them for as large a facility as they have. square footage wise it would be like having Amazon building a new distribution center. Its a great area for tech companies we just need to bring large ones in lol. Then again another housing issue....its an endless cycle lol.

    1Reply
  • Chris Miller
    Residential Real Estate Broker · Moses Lake, WA · Member since 2016 · 49 posts · 22 votes
    7y
    Originally posted by @Jay Hinrichs:
    Originally posted by @Chris Miller:
    Originally posted by @Jay Hinrichs:

    Also Pangborn has 7000 feet and can handle tandem landing gear which means jet service..  Jet service opened up BEND/REDMOND..  And maybe there is Jet service now..  but Jet service to Kelowna BC blew it up as well.

    Unfortunately, the approaches to the runways are horrible and the airport is shut down with the fog.

     I have flown in there many times but not hard IFR.. looks like the approaches though have an Two ILS and an Rnav from the south.

    and given the fact that the weather there is clear blue 320 plus days don't think weather is an issue for commercial traffic.

    As stated I always enjoyed flying into Pangborn..  90% of the time I was coming from PDX so would come from the south up the river.

    I might have landed there once coming from the north.. but for me if I had to land to the south would mean weather was to severe and I would avoid.

    Chelan has a challenging airport that is fun to fly into.. I have been into that one Omak and the one at Oroville when clearing customs.

    Its quite often we fly east side to avoid west side weather.. at least us little plane flyers. I fly a Cirrus SR 22

     I used to jumpseat out of EAT to SEA and during the winter I rarely got out. Double whammy was the passes were usually a mess as well. Luckily my parents lived on the westside and could drive me to the airport so I could continue my commute to HNL. We've missed so many flights we now drive to either PSC or GEG.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free