Wenatchee Mortgage and Housing News Good Again

By: Michael Sanborn

According to the Office of Federal Housing Enterprise Oversight (OFHEO), Wenatchee, Washington had the highest four-quarter appreciation of all 287 cities ranked in the study. This marked the third quarter that Wenatchee topped the list. Wenatchee real estate has not seen the boom years that many of the other ranked cities have seen in the past decade, so it is not surprising that the home market is experiencing strong growth amidst the troubled national figures.

The Washington State real estate market has also performed quite well in general. Ranking as the fifth highest appreciation rate of all states, Washington real estate saw a 7% increase year over year in the recent study. The modest growth of the Washington real estate market over the last several decades has provided homeowners the stable return expected from home ownership. This fact has also kept the rate of foreclosures, something the national media suggests is through the roof, just above 1% of all households.

Other Washington cities that made the top 20 cities for appreciation are Yakima at 8.80%, Spokane at 8.79% and the Seattle-Bellevue-Everett area with 7.79% year over year appreciation. Many experts have suggested over the last year and continue to believe that Washington will be among the safe spots for real estate investing in the near future.

Wenatchee mortgage broker, Bob Hawk, stated that, with mortgage rates still around 5.75%. Washington real estate will continue to provide the secure, long-term return on investment that buyers need.

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