Executives from Realogics Sotheby’s International Realty (RSIR) and WoodRidge Custom Homes announced today the soft opening of the Mountain Haus Discovery Center at 107 East 1st Street in Cle Elum, Washington. A private reception is being hosted on Saturday, July 22 from 4:00 to 6:00 P.M. at the new venue for invited guests including market luminaries, local developers, real estate agents, and cross-promotional marketing partnerships to introduce the Mountain Haus brand and showcase the retail center under development. The official public opening is scheduled for late September 2023. Two new websites have been announced: www.SeattletoSuncadia.com and www.MountainHausProperties.com (coming soon). The collaboration and retail showroom are being timed with a new housing cycle as the mountain and resort industry reboots post pandemic and as demand expands.
“We are elated to partner with Realogics Sotheby’s International Realty to realize this vision for a regional discovery center to showcase the lifestyle attractions and real estate prospects in this evolving marketplace,” said Cliff Melby, President of WoodRidge Custom Homes. “We are witness to an unprecedented buying opportunity for new and resale properties, as well as offering owners of undeveloped lots to build custom and spec homes as construction costs relax. The Mountain Haus Discovery Center will provide a centralized showroom for consumers, real estate agents, and third-party developers to explore their options in a dynamic retail and events venue.”
As the owner of the building, Melby decided to convert the retail storefront from being internally focused with WoodRidge Custom Homes to being externally focused and promoting the entire region, including resorts and other attractions to cultivate demand for all real estate. He was inspired to build the Mountain Haus platform after appointing real estate broker Dan Redwine to become his exclusive listing agent with Realogics Sotheby’s International Realty and to manage the Mountain Haus brand for the benefit of all local listings, including third-party interests.
“The market has been waiting for this and I’m excited to resource the shared vision for Mountain Haus Properties and the Discovery Center,” said Redwine. “Suncadia is such a special place for me and my family, and this entire upper valley area has so much to offer. We’ve witnessed a palpable evolution from being a resort and second-home market to becoming a primary residence for many, and it makes sense that the marketing and sales approach also evolves. We’ve got a great story to tell, and Realogics Sotheby’s International Realty is the perfect brokerage alignment to connect our submarket to the Seattle metro area and throughout their global network.”
The Mountain Haus Properties debut will incorporate local interests including a wine tasting by Upside Down Wine, light bites by Owens Meats, and a panel discussion with Melby, Redwine, and Jones, and interactions by the guest audience. The panel will be moderated by media professional with KIRO Radio and former host of Evening Magazine John Curley, who is a proud full-time Cle Elum resident, along with his wife Nicolle, who is an RSIR real estate advisor and works alongside Redwine.
John Curley is a demonstrated believer in the lifestyle and investment propensity of the region. He’s the owner of a 26-acre property known as White Barn Farms and is currently building a venue for weddings and other special events, noting that the market demand for such has expanded well beyond the Suncadia Resort.
“There’s no doubt that this region has arrived on a global stage, and the Mountain Haus Discovery Center will help consumers explore the bounty of lifestyle, events, and real estate possibilities the valley offers,” added Curley. “During the pandemic, we saw many residents work from home, and they escaped the greater metropolitan area in search of a more natural and resort-oriented environment. This trend persists post-pandemic and since cultivated demand for primary homes and unique experiences, we can offer a four-season destination.” Market pundits agree and see a potential gold rush of prospective buyers for new and resale homes in the burgeoning submarket.
“As the housing market stabilizes, we’ll see more would-be sellers downsize from larger single-family homes and perhaps, acquire two homes–one in the mountains and one in the city,” said Dean Jones, President & CEO of RSIR. “This is the catalyst for us to launch this new Mountain Division now for our brokerage. As the listing broker with Mountain Haus Properties, our alignment will help our agents and their clients realize the full potential of this rebooting marketplace.”
Jones points to a record number of active listings in Kittitas County but believes an inflection point is coming, suggesting that waiting to buy could mean less selection and higher prices.
“Despite today’s higher mortgage interest rates, it’s actually an optimal time for buyers to acquire a home in the mountain region as developers have sharpened their asking prices, especially for move-in ready homes,” opined Jones. “Most believe we’ll see the Fed lower bank rates once inflation is in check, and we’ll likely see a refinance market in a year or so. Savvy consumers know these lower purchase prices are a long-term benefit while these higher rates are more temporary. They also know the inventory will see more competition when mortgage rates drop, and would-be sellers enter the market as buyers.”
Another potential market segment Mountain Haus is targeting is owners of individual lots, scores of which haven’t yet been developed after years of sitting idle. These individually-owned land parcels have been acquired by families and investors, and Melby sees an opportunity to joint-venture with WoodRidge Custom Homes to build spec homes on their properties. He’ll provide the landowner with an option to keep the finished property or sell it and participate in the successful exit of the investment. As the region’s most accomplished homebuilder with more than 100 houses built over the past decade, Melby is seeing design and development costs correct, making the prospect for new builds more attractive again following the past COVID-era building boom.
“We have the market knowledge and development infrastructure to help lot owners go vertical in a cost-efficient and timely manner,” adds Melby. “We are well aware of the need for new construction of all property types and price points in the region, and we are positioned to lead that to fruition.”
For more information, visit RSIR’s New Developments page.