New Year, New Season, New Outlook

March is almost over, and despite all evidence to the contrary, Spring actually is back again for another run. And that pretty well describes our approach to the real estate market. Despite all evidence to the contrary, and many dire predictions by the ‘Pundits Who Claim to Know Everything’, the outlook here in our little corner of a State in a small corner of this great country, is optimistic – cautiously perhaps, but optimistic none the less.

The real estate market is coming back. This is evidenced by the increase in the number of inquiries and the number of people coming to town wanting to see houses they have found on the internet. If they saw it on the internet, it means they are actively looking for property. If they are looking for property, they have money to spend and if they want to spend it on real estate in Wahkiakum County, this is a very good place to start. Property has always been and always will be a good investment. Property is a finite commodity – they aren’t making any more and what’s here will become more valuable as our population increases. This is the simple law of supply and demand.

In spite of all the doom and gloom of the economic forecast, most people just want to get on with their lives. In this author’s opinion, it’s folks acting on this desire that signals the beginning of economic recovery. The business of living will continue and families will always need homes. And that folks, is why we’re optimistic.

Thank You, Sellers!

We, at Lower Columbia Realty, would like to say a big Thank You to the sellers who are sticking out this current market with us! We realize that once you decide to put your home on the market you are doing so because you want it to sell, not sit on the market forever. The real estate market is facing some challenging times and we are doing all we can to make the best out of the current situation. While some cut backs are necessary, Lower Columbia Realty is spending its advertising dollars wisely with our seller's best interests in mind. Other agencies might be scaling back or stopping their print advertising altogether. This month we took out a full page ad and the cover of the real estate magazine published by the Daily News that is distributed throughout Southwest Washington and Northwest Oregon. We are also constantly seeking new and better ways to get our property information out on the internet. We have increased our office hours and are now open on Sundays. Times may be tough, but so are we! So again, thank you for staying with us and may spring, which is just around the corner, bring us lots of buyers!

HOTEL CATHLAMET - COMMUNITY GEM

Let me share with you, as promised in my last post, the historical presence in our community of the Hotel Cathlamet. This beautiful structure on Main Street was built in 1928. As a teenager, I remember the Hotel as the drop off spot for Rainbow Girls returning from out of town meetings. The lobby was a safe haven for young girls to wait for their parents to pick them up and take them home. The lobby remains today much as it was when it was built. In 1996 the Hotel was purchased, beautifully upgraded and turned into an Assisted Living Center. It boasts 20 rooms for the residents who can also enjoy a comfortable day room, sun room, patio with gazebo, spacious dining room and media room. The Hotel has an elevator so that the residents can easily access street level and go shopping or for walks around town. The owners of the Hotel have graciously allowed community events to be held in the lobby. At Christmas you can see the Festival of Trees sponsored by the Chamber of Commerce or The Chocolate Extravaganza in February which raises money for the local domestic violence shelter. Groups are encouraged by the owners to come share events with the residents and visit on a regular basis. Bingo anyone? Music on the piano or guitar? This community cares about the Hotel and the residents who call it home. This community gem is now listed for sale at $999,900. Come visit and have a tour!

Home Loan Qualification - Easier Than You May Think

Foreclosure, upside down mortgage, distressed home - these terms are seen with increasing frequency in the news. Along with an air of uncertainty concerning the current economic climate, these issues have caused many potential home buyers to hesitate or put on hold any plans to purchase a new home or a first home. There are so many questions but no simple answers – until recently.

GUARANTEED RURAL HOUSING LOAN PROGRAM
For many people who think they will never qualify for any loan, or be able to afford even the smallest house payment, there is a silver lining to this economic black cloud in the form of guaranteed, low interest , no down payment, 100% financing home loans available to eligible buyers.

Wahkiakum County is defined by the US Department of Agriculture (USDA) as a Rural Development area. Anyone purchasing a home in Wahkiakum County, who meets eligibility requirements based on household size and income, may be able to get financing through this loan program. For instance, principle and interest payments on a 33 year, 4.5% - 5% fixed rate loan on $175,000 would be between $850 and $950 per month. This is a rough calculation and is used here only to illustrate that house payments may be the same or better than rent payments for some home buyers. Add to this the benefit of acquiring and building equity in real property – one of the best investments that can be made in anyone’s lifetime.

Some of the unique features of this program are
· Loan amount of up to 100% of appraised value
· no cash reserves required
· buyers do not have to be first time buyers
· sellers may contribute to buyer’s closing costs
· Gift funds are allowed toward closing costs

Would you qualify for a loan under this program? Don’t assume you wouldn’t. You may be surprised to learn that a two person household with an adjusted income of $42,850 or less may be eligible. Or that a four person household with an adjusted income of $52,200 or less may be eligible. Would you like to know for sure? Let the professionals help you determine your eligibility limits. Go into your financial institution and talk with them or come into our office and talk with us. Let us show you the way home.

130 Glengate Loop - $174,500

The Most Affordable Housing Around

Do you think that the state of the economy means that you should forget about being able to buy a home? Not so fast... prices are really low right now and so are mortgage rates. Take a look at the lowest priced home in Wahkiakum County:

Click here for more information.

This is a move-in-ready home with one bedroom downstairs and the entire half-story upstairs that could easily be used for additional sleeping areas. There's a nice kitchen with a large eating area, a living room and a 3/4 bathroom with a shower. The daylight basement could be used as a workshop. And there's ample room on the over 0.2 acres for picnics, a hot tub or a garage.

This home would easily rent for over $500/month. What do you suppose it would cost per month to own this home?

There are new loan programs available for low income people who wish to buy a home in our area. No down payment is required. Interest rates range from around 4.5% for people with moderate incomes (less than $70,750 for a family of four) to 1% for people with very low incomes (less than $29,200 for a family of four).

This means that you could own this home for a monthly payment of $431 if you have a moderate income, or as little as $ 274! That sure beats paying rent!

These loans are available at banks locally. Stop in our office at 50 Main St. in Cathlamet to find out how you can afford to buy this home or many others... and don't forget to ask for Bill.

Water, Water Everywhere!

Our area is blessed with a multitude of waterfront properties. Here, you could have a home on a small river or stream, one on a canal with a dock, or yet one with a sandy beach that looks out on to the mighty Columbia River. In the past few years we've seen the value and price of these properties escalate to the point where they haven't been attainable to most buyers. However, with the recent turn of events in the economy and housing market, we're seeing prices come down a little. In fact, we have a few waterfront properties that are fabulous deals!

Here are a couple located on Puget Island that just might make you want to pack your bags and move or at least get you thinking about finally buying that second summer home you've always dreamed about.


This cute and cozy cabin type home is situated on a double lot and has 3 bedrooms and 1 bath with a detached garage. There is 160' of waterfrontage with a 90' dock and a 48' x 22' baothouse. Listing price $189,900.

You can dig your toes in the sand at this property that also looks out onto Coffee Pot Island. The large lot boasts 132' of waterfrontage with views of the ships and ferry traveling the Columbia River. There are TWO seperate, very nice manufactured homes plus a 36' x 26' garage with finished loft. Listing price $339,999.

If you'd like more information on either of these great properties or are curious about other waterfront properties that are available, give our office a call at (360) 795 - 8299.

Hello and welcome to our blog! As the Broker for Lower Columbia Realty, it is my pleasure to visit with you about my "hometown". Cathlamet has been my life long place of residence, except for a brief stay in California when my husband was in the Navy. I love this place and never tire of living in this part of "heaven". Some people think that the Pacific Northwest is far too rainy. And, their point is? Without the rain we would not be the fresh, green, clean place that we are today. The air is cleaner here; people are friendly; natural resources abound; what is not to like about Wahkiakum County? IF peace and quiet appeal to you, look no further. It is amazing to me to look out my window from my home on the hill and see the ships traveling the Columbia River. We have various property types in our area. You can live up in the hills, in town next to schools and shopping, on Puget Island on pasture acres or beach front, or in the Valleys of the Elochoman or Skamokawa.

We are perfectly located 30 miles from I-5. To get here you drive alot of the way along the beautiful Columbia River. Our quaint little town is only an hour and a half to Portland and the airport. Our largest city would be Longview 25 miles to the East. If you need WalMart, Lowes, movie theatres, a shopping Mall with JC Penney and Macys, Longview is the destination. Continue driving West and you will come to the Pacific Ocean just one hour away.

Recreation abounds in our area. Fishing either from beaches or boat, hunting, walking, hiking, bike riding, bird watching, kayaking just to name a few.

In my next post, I will visit with you about the history of this magnificent place! Kay