Tehaleh bestselling community in Puget Sound region, real estate report says

The New Home Trends report reviewed new home sales in 499 Pierce, King, Snohomish and Thurston county communities for the first six months of 2013. As of late July, Newland Communities had sold 142 homes in Tehaleh.

The Tehaleh planned community has become the No. 1 homeseller in the Puget Sound region, according to a report from New Home Trends, a local real estate research firm.

The report reviewed new home sales in 499 Pierce, King, Snohomish and Thurston county communities for the first six months of 2013. As of late July, Newland Communities had sold 142 homes in Tehaleh.

“We track the numbers pretty closely, so we knew we were up there but we didn’t know we were number one until that report was published,” Vice President Scott Jones said.

Tehaleh is a planned community immediately south of Bonney Lake, still in its early stages of construction. The site formerly known as Cascadia was originally owned by the Cascadia Development Corporation, and the company’s plans for a “self-contained” community of homes and businesses remained in the works for nearly 20 years. However, the developers defaulted on a $75 million loan debt and HomeStreet Bank foreclosed in 2009. The bank sold the real estate to Newland in 2011 and the first phase of development opened to the public in fall 2012.

A grand opening contest saw Newland award a South Hill man, Jay Bradley, win a $280,000 homebuilding credit. In the past year, the San Diego land developer has campaigned to promote its east Pierce County venture as an opportunity for renters to become owners, according to Marketing Director Ruth Winbauer. Buyers who closed on a home before August 16 were offered a year without homeowners association dues.

So far, Jones said Tehaleh has attracted a little bit of everyone: young families, established families and active older adults. However, homes in the 55-and-older Trilogy community have been the best sellers.

Tehaleh’s current sales lead is a sign of early success for the community, but Newland is approaching development one step at a time. The company’s partner builders are still at work constructing homes in Phase One and executives would like to bring in more buyers before moving on to the next phase, which includes parcels identified for commerce and light industry.

“I think we need to get a few more rooftops (before moving on to Phase Two),” Jones said.

 

More in Business

Seattle’s misstep highlights need for new approach

Last week, Seattle’s City Council did an “about face” revoking the onerous… Continue reading

Washington’s expensive culvert court case

Too much money is spent in court where it should go to increasing the salmon population

Lt. Dan needs lots of helping hands

Gary Sinise formed the “Lt. Dan Band” in early 2004 and they began entertaining troops serving at home and abroad. Sinise often raised the money to pay the band and fund its travel.

New Enumclaw wine bar aims for broad audience

Bordeaux Wine Bar is scheduled to be open Wednesdays through Sundays.

Streamlining regulations makes more housing affordable

There were over 21,000 people homeless in Washington State last year.

New approaches needed to fight super wildfires | Don Brunell

Last year, wildfires nationwide consumed 12,550 square miles, an area larger than Maryland.

Skilled trade jobs go unfilled in our robust economy

Known as blue collar jobs, they routinely pay $45,000 to $65,000 a year or more.

Streamlining regulations helps Americans compete

The cost of regulations is a key American competitiveness issue. It is a major reason our companies re-locate to other countries and our manufacturers and farmers have difficulties competing internationally.

Water pressure mounting in West as population spikes

What is happening in California with water allocation disputes is a harbinger of what is to come in our state as well.

Railroads implementing positive track

While the investigation continues into the deadly AMTRAK derailment near Dupont, the clock continues to tick on the implementation of Positive Track Control (PTC). The deadline is Dec. 31, 2018.

Keep the holiday spirit all year long | Don Brunell

During the holidays, our thoughts naturally turn to giving — not just giving gifts, but donating our time and money to charities, disasters and community programs.

Finding balance in occupational licensing

Recently, the Institute for Justice (Institute) determined state licensing barriers for lower-income workers and aspiring entrepreneurs not only hurts people trying to establish themselves in a profession, but annually drives consumer prices up by $203 billion.