Author: Dianne Gregoire

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What’s in the Blotter?

Linda and I have been writing this blog for a very long time. I would say at least 10 years. When we started this blog we wanted to name it after something uniquely associated with Lake Oswego. We chose The Property Blotter, which was a reference to the column in the local newspaper, The Lake Oswego Review. The column was called the Blotter. It lists every call to the Lake Oswego Police from the previous week. Bear in mind that LO is famous for having low crime, and a very well funded police department. Thus, many of the calls are a source of light humor.

With this in mind, I thought I’d give you a taste of this week’s police blotter, now known as the Police Log:

8/7 1:36 p.m. A resident said she was concerned about her elderly neighbor who had to use a double key deadbolt to get out of the gate to her condo near the 30 block of Condolea Drive. She worried the neighbor wouldn’t be able to get out in an emergency.

8/7 2:37 p.m. A caller said a dog showed up on their porch near the 14000 block of Goodall Road.

8/7 2:55 p.m. Kids were seen boxing near the 15500 block of Waluga Drive.

8/7 4:35 p.m. A man was seen yelling at buildings while walking in a parking lot near the 5000 block of Foothills Road.

8/7 6:26 p.m. A woman wondered if she was allowed to park her boat in her driveway for the winter.

8/7 7:33 p.m. A resident said a man was standing in grass and staring at his house near Overlook Drive and Stafford Road. Apparently this was an ongoing issue, with the man standing there “for hours.” It turned out the man worked for a care facility and he went across the street to smoke away from residents.

8/7 11:57 p.m. A resident said a “fugitive” was in their backyard and under the deck at an undisclosed location. Police found no one under the deck, though they did notice bird seeds on the ground and evidence of rats. Under the deck, a vent leading to a crawl space was missing, and the noise could have been from rats or a raccoon.

8/8 4:06 p.m. A caller said a skunk was dying in his yard and it needed to be put down near the 800 block of Clara Court.

And so goes the high drama of life in LO. We have it pretty good here when we have a police department who will answer the call about a dying skunk. I do love LO.

Enjoy your week.
Dianne

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Market Activity August 17-23, 2020

The real estate market in Lake Oswego continues to be booming. Far more houses are selling than are coming onto the market. It’s a great time to list your house for sale!

Last week in Lake Oswego we had 20 properties come onto the market, 31 move into pending status, and 28 sold/closed homes.

New on the Market (August 17-23, 2020)

Address Type Price BR Baths Sq Ft
47 Eagle Crest Dr #62 Condo $249,000 3 1.5 1026
45 Eagle Crest Dr #402 Condo $249,000 1 1 768
217 Cervantes Condo $250,000 2 1.5 1204
4642 Lower Dr Condo $275,000 2 2 1260
205 Oswego Summit #205 Condo $285,000 2 2 1383
71 Condolea Way Condo $425,000 3 3 2131
6 Britten Ct Attached $425,000 2 2 1317
1402 Parrish St Condo $469,000 3 2.5 1863
1764 Conifer Dr Detached $499,900 3 1 1200
17 Laurel St Detached $675,000 3 1.5 3096
322 2nd St Condo $755,000 3 3.5 1971
13745 Cameo Ct Detached $964,500 4 4 2846
4297 Albert Circle Detached $999,995 3 2.5 2335
47 Hillshire Dr Detached $1,085,000 4 2.5 3324
1816 Palisades Lake Ct Detached $1,200,000 3 2.5 4598
16877 Canyon Dr Detached $1,629,900 4 4 3771
3509 Lanewood St Detached $1,799,900 4 4 3830
16743 Graef Circle Detached $2,000,000 4 2.5 3772
1287 Cherry Ln Detached $2,595,000 5 4.5 5312
16337 Chapin Way Detached $2,599,000 5 4.5 5115

Pending Sales (August 17-23, 2020)

Address Type Price BR Baths Sq Ft
47 Eagle Crest Dr #62 Condo $249,000 3 1.5 1026
45 Eagle Crest Dr #402 Condo $249,000 1 1 768
217 Cervantes Condo $250,000 2 1.5 1204
4642 Lower Dr Condo $275,000 2 1-Jan 1260
205 Oswego Summit #205 Condo $285,000 2 2 1383
71 Condolea Way Condo $425,000 3 3 2131
6 Britten Ct Attached $425,000 2 2 1317
1402 Parrish St Condo $469,000 3 2.5 1863
1764 Conifer Dr Detached $499,900 3 1 1200
17 Laurel St Detached $675,000 3 1.5 3096
322 2nd St Condo $755,000 3 3.5 1971
13745 Cameo Ct Detached $964,500 4 4 2846
4297 Albert Circle Detached $999,995 3 2.5 2335
47 Hillshire Dr Detached $1,085,000 4 2.5 3324
1816 Palisades Lake Ct Detached $1,200,000 3 2.5 4598
16877 Canyon Dr Detached $1,629,900 4 4 3771
3509 Lanewood St Detached $1,799,900 4 4 3830
16743 Graef Circle Detached $2,000,000 4 2.5 3772
1287 Cherry Ln Detached $2,595,000 5 4.5 5312
16337 Chapin Way Detached $2,599,000 5 4.5 5115

Sold/Closed (August 17-23, 2020)

Address Type List Price Sold Price Sq Ft CDOM
7 Crestfield Ct Condo $155,000 $145,000 689 31
59 Oswego Summit Condo $244,900 $230,900 1,140 59
16250 Pacific Hwy #81 Condo $249,000 $231,500 841 43
207 Oswego Summit Condo $289,000 $289,000 1506 20
13 Mountain Circle Attached $375,000 $390,000 1374 4
6301 Alyssa Terr Attached $400,000 $408,000 1546 4
5071 Tualata Ln Detached $449,000 $440,000 1540 45
1400 Parrish St Condo $460,000 $448,000 1863 130
18545 Kristi Way Detached $434,900 $460,000 1307 4
4260 Chapman Way Detached $630,000 $618,777 2301 16
14825 Rainbow Dr Detached $650,000 $636,000 2582 12
205 Hidalgo St Detached $679,900 $679,900 3032 4
4087 Trout Way Detached $659,000 $710,000 2320 4
720 Briercliff Ln Detached $650,000 $720,000 2152 3
17430 Schalit Way Detached $689,900 $725,000 2379 1
14321 Camden Ln Detached $759,900 $750,000 2553 3
18709 Mirkwood Dr Detached $729,000 $770,000 3086 3
3778 Rivers Edge Dr Detached $799,000 $770,000 3012 53
19398 River Run Dr Detached $799,900 $800,000 2790 24
19242 Indian Springs Rd Detached $995,000 $925,000 3365 54
14380 Trillium Ct Detached $1,072,000 $976,000 3962 128
18707 Bryant Rd Detached $995,000 $985,000 2184 0
1658 Village Park Ln Detached $1,258,000 $1,180,000 4634 97
4150 Upper Dr Detached $1,425,000 $1,390,000 3466 14
1103 C Ave Detached $1,639,000 $1,538,000 3530 110
310 Iron Mountain Blvd Detached $2,150,000 $2,025,000 4927 14
3124 Lakeview Blvd Detached $2,950,000 $2,700,000 3825 16
4175 Southshore Blvd Detached $4,999,999 $3,300,000 6332 1133

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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Featured Neighborhood: Westlake

Westlake is probably the most classic “American” neighborhood in Lake Oswego. Developed in the 1980’s it is winding, quiet streets of lovely homes that just beg you to take your dog for a walk, or your kids to get on their bikes and spend the day outside. It is truly a wonderful neighborhood.

It’s also unbelievably convenient. Located at the very Western edge of Lake Oswego, it is bounded by I-5 on the West, Melrose St on the North, Fosberg Rd on the East, and Kruse Way on the South. It is literally at the junction of I-5 and Hwy 217. I remember when it was being developed there was a big sign that said “If you lived here, you’d be home right now”. This is because as you leave the freeway, it’s right there. If you live in First Addition, you’ve got another 10 minutes of driving to get home. If you live in Palisades, you’ve also got another 10 minutes of driving to get home. It’s just super convenient.

Westlake has 2 parks, Westlake Park and Southwood Park. Southwood Park is more of a nature area with green lawns and walking paths. Westlake Park is more of a recreation area with a huge playground and an athletic field for baseball and soccer. It is also the sight of the August portion of the Lake Oswego Summer concert series. In a non-covid 19 world, there is a free outdoor concert every Wednesday evening in the month of August.

Westlake Elementary School is also adjacent to this neighborhood, which makes it close enough for kids to walk or ride their bikes to school.

Do you see what I”m saying about a classic “American” neighborhood. It’s like something straight out of a movie. The American dream. A family home and everyone enjoying recreation and friendships.

The housing in Westlake is primarily single family residential. There are some apartments, but no condos. There is also a very small commercial area with a dozen businesses and a pizza restaurant.

There are currently 8 houses for sale in Westlake. The least expensive is 1861 square feet, 2 bedrooms, 2.5 baths, built in 1986, the interior is mostly original and would benefit from updating. It’s priced at $549,900. The most expensive is 2976 square feet, 4 bedrooms, 2.5 baths, built in 1985, it is beautifully updated and priced at $995,000.

Homes in Westlake sell fast. Because of everything I have shared here, it is a wildly popular place to live and buyers are watching and waiting. When the right house comes onto the market, they jump on it. This makes it not only a great place to live, but owning a home there is also a great investment.

The photos shared here are of homes that I have recently sold in Westlake. I know the neighborhood and would love to help you realize your dream of living in a classic “American” neighborhood.

As always, thanks for reading the blotter.
Dianne

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Market Activity July 27-August 2, 2020

Last week was another very active week for real estate in Lake Oswego. We had 13 new listings, 34 properties move to pending status, and 38 sold/closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (July 27-August 2, 2020)

Address Type Price BR Baths Sq Ft
4000 Carmen A-16 Condo $264,900 2 2 1025
3433 McNary Pkwy #804 Condo $269,900 2 2.5 1136
750 1st St A12 Condo $369,000 2 2 1350
1 Pheasant Run Detached $475,000 3` 2.5 1780
17015 Denny Ct Detached $549,977 3 2 1756
16715 Ford Pl Detached $875,000 3 2.5 3081
6016 Clairmont Ct Detached $950,000 3 2.5 3210
13822 Melrose Pl Detached $990,000 4 3.5 3529
1507 Cedar St Detached $1,099,900 3 2.5 2505
16429 Bonaire Ave Detached $1,299,900 4 3.5 2967
1111 C Ave Detached $1,549,000 4 3.5 3354
1003 Terrace Dr Detached $3,500,000 5 5.5+.5 7428
1415 Chandler Rd Detached $4,250,000 6 4.5+.5 7054

Pending Sales (July 27-August 2, 2020)

Address Type Price BR Baths Sq Ft CDOM
7 Crestfield Ct Condo $160,000 1 1 689 31
16 Cervantes Circle 6E Condo $220,000 2 1.5 912 6
207 Oswego Summit Condo $289,000 2 1.5 1506 20
750 1st St #D25 Condo $325,000 2 2 1350 8
12844 Boones Ferry Rd Condo $390,000 2 2.5 1177 21
6 Wheatherstone #3 Condo $404,000 3 2.5 1692 11
5071 Tualata Ln Detached $449,000 3 2 1540 45
26 Briarwood Rd Detached $495,000 4 2.5+.5 2554 4
5767 Baleine St Detached $499,900 3 1.5 1160 4
29 Da Vinci St Detached $519,000 4 3 2632 5
18554 Hallberg Ct Detached $524,900 3 1.5 1202 2
6352 Dawn St Detached $584,900 3 2 1709 5
86 Greenridge Ct Attached $599,000 4 3.5 2718 39
1941 Green Acres Ln Detached $599,900 4 2.5 2459 394
12 Mozarteum Ct Detached $659,000 4 2.5 2915 30
16969 Alder Circle Detached $699,000 3 2 1676 18
397 Livingood Ln Detached $719,000 3 2.5 2631 6
28 Westridge Dr Detached $724,900 4 2.5 2580 25
12562 Orchard Hill Rd Detached $739,000 4 2.5 2574 47
14655 Uplands Dr Detached $739,000 3 2 2462 126
1868 Glenmorrie Dr Detached $769,000 4 4 3158 12
2782 Tolkien Ln Detached $769,000 4 3.5 3207 19
12821 Sierra Vista Dr Detached $819,500 5 3.5 3352 5
32 Wilbur St Condo $862,500 3 2.5 2671 1
1523 Pine Detached $869,900 3 2.5 2390 151
18283 Lothlorien Way Detached $889,000 4 3 3053 13
2944 Vale Ct Detached $958,000 4 2.5 3414 81
44 Touchstone Detached $975,000 5 3 2507 25
3122 Glenmorrie Dr Detached $1,299,000 4 3.5 3724 14
714 Evergreen Rd Detached $1,349,000 4 3 3464 135
610 4th St Detached $1,550,000 4 2.5 3394 157
17322 Cedar Rd Detached $1,950,000 4 4 3432 30
17147 Old River Dr Detached $2,350,000 4 4.5+.5 6936 52
18414 Old River Landing Detached $2,980,000 4 4.5+.5 7022 55

Sold/Closed (July 27-August 2, 2020)

Address Type List Price Sold Price Sq Ft CDOM
86 Kingsgate Rd C-102 Condo $225,000 $225,000 924 3
668 McVey Ave #82 Condo $235,000 $235,000 992 24
200 Burnham Rd #304 Condo $329,000 $309,000 1305 25
5225 Jean Rd #304 Condo $329,500 $325,000 1400 23
4324 Botticelli St Condo $359,000 $340,000 2260 89
1373 Bonniebrae Dr Attached $370,000 $375,000 1477 3
4386 Thunder Vista Ln Condo $399,900 $390,000 1980 41
111 Touchstone Terr Attached $420,000 $420,000 1341 16
76 Kingsgate Attached $434,900 $430,000 1527 73
19 Bloch Terr Attached $425,000 $430,000 1527 73
885 McVey Ave Detached $469,000 $450,000 1292 29
6397 McEwan Rd Detached $439,900 $453,000 1008 3
17635 Deemar Way Detached $549,000 $489,000 1488 201
121 Wilbur St Condo $537,500 $528,750 1631 117
1778 Fern Pl Detached $499,900 $529,500 1146 $11
13841 Verte Ct Detached $649,000 $560,000 2341 78
2388 Overlook Dr Detached $678,000 $657,000 2765 5
1069 Timberline Dr Detached $725,000 $725,000 2173 7
121 Condolea Dr Condo $799,000 $752,800 2143 1
64 Condolea Terr Condo $799,000 $799,000 2958 3
1010 Laurel St Detached $849,000 $800,000 2498 15
5608 Grand Oaks Dr Detached $879,000 $880,000 3129 2
205 5th St Detached $895,000 $895,000 2556 52
24 Del Prado St Detached $969,000 $959,000 3357 22
15371 Twin Fir Rd Detached $1,050,000 $1,012,500 2876 19
815 Oak ST Detached $1,035,000 $1,020,000 3836 6
18803 Rivendell Ct Detached $1,100,000 $1,050,000 4538 310
14260 Uplands Dr Detached $1,284,000 $1,267,000 2831 5
540 8th ST Detached $1,289,000 $1,279,000 2920 2
824 9th St Detached $1,375,000 $1,375,000 2800 0
163 Iron Mountain Blvd Detached $1,795,000 $1,500,000 4314 424
17475 Canal Circle Detached $1,650,000 $1,570,000 2290 0
4277 Upper DR Detached $1,595,000 $1,640,000 3851 141
18099 Green Bluff Dr Detached $1,695,000 $1,650,000 5343 43
16645 Graef Circle Detached $1,825,000 $1,825,000 3187 16
17537 Cardinal Dr Detached $1,995,000 $1,850,000 3187 16
1098 Chandler Rd Detached $1,995,000 $1,950,000 3934 12
16723 Maple Circle Detached $2,450,000 $2,150,000 2515 17

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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The Magic that is Escrow

I want to take a moment to explain not only what escrow is, but also to give a shout out to the amazing title companies that we have in the Portland area.

Escrow is the time that happens between an offer being accepted and the title being recorded for the new owner of the property. The Realtors involved submit a copy of the agreed upon paperwork to the title company that has been chosen. The buyer or the seller can select the title company, if they have a preference. By practice though, I’d say 90% of the time the seller’s agent will choose the title company. This is because prior to and during the course of the listing being marketed, it’s pretty common for the listing side Realtor to ask for information and favors from a title company. This can be things like obtaining a plat map, getting a copy of the deed, all sorts of favors. The title company will do these services at no charge. They do them, because they are hoping to be selected to handle a transaction. Just like Realtors, they don’t get paid until the transaction closes.

Upon receiving the new sale agreement, the “escrow officer”, which is what the person at the title company is usually called, will order a preliminary title report. It takes about a week to receive it and it is sent out to all parties involved: the buyer and their Realtor, the seller and their Realtor, and the lender if there is a lender involved. The title report shows what legal liens and encumbrances, such as easements, Home Owner Association documents, and mortgages are attached to the property. Once received, the buyer needs to review the prelim and they have 2 days to notify the seller if there is an issue that needs to be cleared up. The seller then has 5 days to fix the issue. If the seller can’t fix it, then the buyer can terminate and get their earnest money back. The sort of issue that might create this situation would be something like a judgement for alimony that must be proven to be current. That sort of thing.

Escrow lasts 30 to 45 days, typically. During this time the escrow officer will collect the needed information to close on the sale. They are the people who receive the lenders wire of funds from the new mortgage, and who contact the buyer to let them know how much money to bring to closing. They make appointments with the buyer and the seller and are in charge of everyone signing all of the documents correctly. They use the money that they have received to pay off any current liens and then they are the ones who take the new deed to the county and have it recorded, along with the new mortgage. Today this is done electronically.

On the day of closing they do the final title report to confirm that no knew encumbrances have been recorded on the property. With this in hand they issue a title insurance policy. This insurances benefits the buyer and is the title companies evidence that all of the seller encumbrances have been removed and the buyer is receiving the property with clear title and only the encumbrances that they place upon it, such as their new mortgage.

To a person, every single escrow officer I have ever met or worked with has been the utmost professional, competent and friendly person. In addition, the title companies perform these services for a very reasonable charge. Combining title and escrow charges, the average transaction earns the title company, perhaps, $3500. The charge for the title insurance is regulated by the state of Oregon. Escrow charges are pretty uniform between companies. The charges are split approximately 60/40, with the seller paying the larger amount because seller paid title insurance to benefit the buyer is more expensive than buyer paid title insurance to benefit the buyer’s lender.

If you ask any Realtor who their favorite title company is, every single one of them will have an immediate answer. For me, it’s Roni Winters at Fidelity National Title in Lake Oswego. But I would trust any of the companies and escrow officers in the metro area. They are all that good.

Stay cool in this heat, and as always, thank you for reading the blotter.
Dianne

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Market Activity July 13-19, 2020

The Lake Oswego real estate market is on fire! It feels like we are having our spring market in July. I’m sure it’s because in the spring the pandemic had just hit us and we all felt a sense of decision paralysis. But as time has gone by, and we’ve all adapted to the new normal, our confidence has come back. The Lake Oswego market truly is booming. Last week we had 26 properties come onto the market, 28 go into pending status, and 20 sold/closed purhases.

Following is the breakdown for you according to RMLS:

New on the Market (July 13-19, 2020)

Address Type Price BR Baths Sq Ft
48 Eagle Crest Dr 5E Condo $269,000 2 2 1443
4621 Lakeview Blvd Condo $279,999 2 2 1178
5061 Foothills Dr G Condo $395,000 2 2 991
6 Wheatherstone #3 Condo $404,000 3 2.5 1692
151 Kingsgate Rd Detached $499,999 3 2 1585
17207 Rebecca Ln Detached $599,000 3 2.5 1944
38 Northview Ct Attached $638,900 4 4 3125
1868 Glenmorrie Dr Detached $769,000 4 4 3158
4108 Orchard Way Detached $769,000 4 2.5 2981
5124 Rosewood St Detached $799,900 5 3.5 3516
802 Clara Ct Detached $849,000 4 3 2886
18283 Lothlorien Way Detached $889,000 4 3 3053
12641 Adrian Ct Detached $896,448 4 4 3602
19345 Riverwood Ln Detached $969,000 4 3.5 3383
1029 Laurel St Detached $974,000 5 3.5 3195
18400 Delenka Ln Detached $998,800 5 3.5 5245
100 Leonard St 4-2 Condo $1,079,000 3 2.5 3137
428 C Ave Attached $1,149,888 3 3 2607
6040 Lakeview Blvd Detached $1,200,000 5 3 3701
3122 Goodall Rd Detached $1,345,000 5 3.5 3735
17684 Stafford Lot 3 Detached $1,499,950 6 4.5 4407
17787 Cardinal Dr Detached $2,199,000 4 4 3270
16655 Maple Circle Detached $3,498,000 3 3 3100
4321 Southshore Blvd Detached $3,950,000 5 4.5 6731
1500 Northshore Rd Detached $11,888,000 5 6.5+.5+.5 13462
3122 Glenmorrie Dr Detached $1,299,000 4 3.5 3724

Pending Sales (July 13-19, 2020)

Address Type Price BR Baths Sq Ft CDOM
44 Eagle Crest Dr #9 Condo $194,900 2 1 908 4
668 McVey Ave #14 Condo $239,900 1 1 636 9
2164 Goodall Ct Detached $300,000 3 2 2016 17
16500 Lake Forest Blvd Detached $439,900 3 1 960 1
1400 Parrish St Condo $450,000 3 2.5 1863 130
5711 McEwan Rd Detached $529,950 3 2 1467 6
4910 Centerwood St Detached $650,000 4 2.5 2481 0
4746 Amherst Ct Attached $675,000 3 2.5 2985 55
205 Hidalgo St Detached $679,900 4 3.5 3032 4
17430 Schalit Way Detached $689,900 4 2.5 2379 1
3778 Rivers Edge Dr Detached $799,000 4 3.5 3012 53
121 Condolea Dr Condo $799,000 3 3 2143 1
19398 River Run Dr Detached $799,900 4 3 2790 24
5267 Lakeview Blvd Detached $895,000 4 3.5 3454 118
1425 Morning Sky Ct Detached $895,000 4 3 3282 2
1766 Palisades Terrace Dr Detached $914,000 4 2.5 2805 67
18707 Bryant Rd Detached $995,000 3 2 2184 0
1061 Chandler Rd Detached $999,000 4 3 2879 139
15371 Twin Fir Rd Detached $1,050,000 4 2.5 2876 19
17690 Blue Heron Rd Detached $1,199,900 4 3 3869 21
1301 Horseshoe Curve Detached $1,299,000 3 2 2260 3
13344 Briarwood Ln Detached $1,359,000 4 3 3413 394
4150 Upper Dr Detached $1,395,000 4 3.5 3466 14
792 5th St Detached $1,480,000 4 4.5 4379 69
1103 C Ave Detached $1,585,000 4 3.5 3530 110
1225 Oak Terrace Detached $1,600,000 5 4 3771 11
310 Iron Mountain Blvd Detached $2,150,000 5 3.5 4927 14
16793 Graef Circle Detached $2,150,000 4 3.5 69

Sold/Closed (July 13-19, 2020)

Address Type List Price Sold Price Sq Ft CDOM
100 Kerr Pkwy #2 Condo $170,000 $165,000 822 9
44 Eagle Crest Dr #441 Condo $228,900 $224,900 908 30
65 Church St Condo $299,950 $248,792 1040 38
715 Hemlock St Detached $357,000 $357,000 1312 8
4292 Galewood St Detached $549,900 $561,000 1644 3
2745 Greentree Rd Detached $598,500 $600,000 3548 245
19200 Redwing Ct Detached $599,900 $620,000 2128 2
1110 Hallinan Circle Detached $699,000 $660,000 3548 245
1268 Spruce St Detached $665,000 $680,000 2220 3
14183 Taylors Crest Ln Detached $796,000 $748,750 3551 45
5950 Harrington Ave Detached $795,000 $790,000 1927 78
125 Furnace St #125 Condo $799,000 $790,000 1927 78
5382 Royal Oaks Dr Detached $796,000 $819,000 2970 7
4680 Upper Dr Detached $825,000 $825,000 1656 3
17065 Tualatin St Detached $869,900 $830,000 2808 89
285 Berwick Rd Detached $1,250,000 $900,000 2518 111
2795 Rivendell Rd Detached $915,000 $930,000 3518 3
815 E Ave Detached $1,379,000 $1,379,000 2796 3
2260 Summit Ct Detached $2,158,000 $1,700,000 3797 436
1415 Skyland Dr Detached $4,250,000 $3,995,000 6085 3

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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Real Estate in a Pandemic

Having been a licensed Oregon Realtor since 1987, I kinda thought I’d seen it all, but then what do you know? A Pandemic happens. I had no idea what to expect. I think mostly I was worried. How do you sell houses in a pandemic? Well, I’ve been pleasantly surprised. The market is booming.

As I pointed out in this week’s market activity report, out of 20 closed sales last week, 6 sold OVER the asking price and 4 sold AT the asking price. That’s 50% of what sold. Then look at the fact that 13 properties went on the market and 31 went pending. That is a classic scenario of supply not meeting demand. This creates bidding and competitive buying.

In this environment, how do Realtors keep everyone safe? Everyone is paying attention. National Association of Realtors, the Oregon Association of Realtors, and my company, Oregon First, have all given pretty strict protocols. At a minimum everyone must wear masks and socially distance. The next step is to talk to our clients. Find out their concerns and what their preferences are. If a person has health issues that put them at higher risk, we can take the procedures further. This includes wearing gloves, wiping down surfaces, having the listing agent meet Realtors with their clients at the front door and give instructions that they may not touch anything. If they want to see inside a cupboard, ask and the listing agent will open the cupboard. I showed a house on Sunday in which my clients and I did not touch one single surface or knob. It went smoothly.

I am asking my clients to wear masks but then I am also providing single use plastic gloves. I put them out at the entrance to my listings and I carry them in my car for my buyers. It is one pair for each house so that we don’t cross contaminate between properties. I felt pretty lucky when I found 2000 pairs for about 40 bucks. I am prepared!

I also provide booties to cover shoes. However, I don’t make them keep the booties on going up stairs that are not carpeted. Those booties can be slippery on stairs.

What I am not doing is sharing my car with my clients or holding open houses.

I really want to assure you that Realtors are working very hard to keep everyone safe in a time when the demand for housing is so high. There may be a pandemic but it’s a great time to buy or sell a house.

As always, thanks for reading the blotter,
Dianne

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Market Activity June 28-July 5, 2020

Our real estate market is pretty much booming right now. Out of the 20 closed sales last week, 6 sold for over the asking price and 4 sold at the asking price. That’s 50% of what sold. There is a huge demand and low inventory. Yes, it’s a great time to sell your house. In addition to the 20 closed sales, last week in Lake Oswego there were 13 new listings and 31 pending sales.

Following is the breakdown for you according to RMLS:

New on the Market (June 28-July 5, 2020)

Address Type Price BR Baths Sq Ft
16200 S Pacific Hwy #23 Condo $359,000 2 2 1208
37 Greenridge Ct Condo $399,000 2 1.5 1176
4963 Suntree Ln Detached $549,900 2 2.5 1861
12 Mozarteum Ct Detached $659,000 2 2.5 1861
1069 Timberline Dr Detached $725,000 4 3 2173
4991 Hartford Pl Detached $859,950 3 3.5 3098
44 Touchstone Detached $975,000 5 3 2507
0 Childs Ct Detached $$958,000-$988,000 3 2.5 2445
860 Skyland Dr Detached $1,320,000 4 3 3527
4150 Upper Dr Detached $1,425,000 4 3.5 3466
17322 Cedar Rd Detached $1,950,000 4 4 3432
310 Iron Mountain Blvd Detached $2,150,000 5 3.5 4927
4357 Southshore Blvd Detached $2,995,000 5 5.5 5220

Pending Sales (June 28-July 5, 2020)

Address Type Price BR Baths Sq Ft CDOM
86 Kingsgate Rd C-120 Condo $225,000 2 2 924 3
16250 Pacific Hwy #81 Condo $240,000 1 1 841 43
4061 Jefferson Pksy Attached $285,000 2 2.5 1462 105
6397 McEwan Rd Detached $439,900 3 2 1008 3
1400 Laburnum Way Detached $475,000 4 3 2106 2
17635 Deemar Way Detached $489,900 4 2 1488 201
1023 Hallinan St Detached $495,000 3 1.5 1092 4
16200 Pacific Hwy #7 Condo $495,000 2 2 1190 29
6430 McEwan Rd Detached $536,000 6 2 1595 108
44 Aquinas St Detached $550,000 4 2 1914 4
13 Grouse Terr Detached $565,000 4 2.5 2108 1
6151 Carman Dr Detached $589,700 3 2 1641 81
2745 Greentree Rd Detached $598,500 2 2 1219 0
6280 Summer Woods Detached $610,000 4 2.5 2191 112
71 Tanglewood Dr Detached $625,000 3 3 2616 18
1575 Ivy Ct Detached $640,000 4 3 2432 3
17721 Overlook Circle Detached $649,900 3 2.5 3172 231
17270 Canyon Dr Detached $674,900 4 3 2754 5
17520 Redfern Ave Detached $692,000 2 2 1776 22
521 2nd St #104 Condo $700,000 2 2 1339 4
1010 Laurel St Detached $799,900 3 3 2498 15
17867 Sundown Ct Detached $799,900 3 3.5 2763 128
830 4th St Detached $799,900 3 2 1890 0
5608 Grand Oaks Dr Detached $879,000 5 3 3129 2
2655 Dellwood Dr Detached $915,000 4 2.5 3164 7
285 Berwick Rd Detached $950,000 3 3.5 2518 111
1658 Village Park Ln Detached $1,198,000 4 3.5+.5 4634 97
540 8th St Detached $1,289,000 4 3.5 2920 2
17036 Canal Circle Detached $1,650,000 4 3.5 3931 386
18099 Green Bluff Dr Detached $1,695,000 4 3.5 5343 43
1098 Chandler Rd Detached $1,995,000 4 3.5 3934 12

Sold/Closed (June 28-July 5, 2020)

Address Type List Price Sold Price Sq Ft CDOM
4646 Lower Dr Condo $275,000 $280,000 1260 8
2101 Wembley Park Rd Detached $320,000 $459,000 3,410 2
5215 Madrona St Detached $479,900 $500,000 1325 4
6025 Kenny St Detached $489,000 $520,000 1254 2
22 Morningview Circle Detached $562,500 $546,500 3438 18
5465 Childs Rd Detached $589,900 $590,000 1487 18
34 Morningview Circle Detached $662,900 $597,325 2942 152
184 D Ave Attached $665,000 $635,000 1636 37
659 Livingood Ln Detached $639,000 $639,000 2400 0
16251 Reese Rd Detached $745,000 $743,000 2555 21
4208 Albert Circle Detached $790,000 $790,000 2777 11
14003 Chelsea Dr Detached $895,000 $895,000 3270 2
16368 Lake Forest Blvd Detached $979,000 $915,000 2750 101
950 Cedar St Detached $1,079,000 $1,025,000 3266 79
4190 chapman Way Detached $1,298,000 $1,185,000 3624 67
2445 Glenmorrie Dr Detached $1,385,000 $1,250,000 5168 98
4484 West Bay Rd Detached $1,250,000 $1,270,000 4417 53
748 6th St Detached $1,425,000 $1,425,000 2865 151
1646 Leslie Ln Detached $1,868,000 $1,720,000 4879 28
18420 Old River Landing Detached $2,890,000 $2,600,000 6164 73

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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Buying Rural Property

Seen here is a dug out open septic tank being pumped out. All the required tools are laying in the yard.
I seem to be on a bit of a roll selling houses on acreage lately. This is prompting me to write a post about how buying rural land is different from buying houses within the city limits. And, yes, this does apply to Lake Oswego houses.

All around the edges of the City of Lake Oswego, the neighborhoods have grown to absorb rural land. There is quite a bit of unincorporated Clackamas and Multnomah Counties with Lake Oswego Addresses.

The biggest difference is that rural homes don’t have city sewer and water. Instead, they have wells and septic systems. This means that when you do inspections of the property, it needs to include testing of the well and investigation of the septic system.

When testing the well you will want to do two tests, one for water flow and one for water quality. A good well needs to be able to supply 600 gallons within a two hour period for use within a home. This is about 5 gallons per minute.

As far as water quality, what is typically tested for are nitrites, coliform bacteria, and arsenic. Lead is also commonly tested for.

The buyer usually pays for all tests associated with the water.

When inspecting the septic system the seller pays to have the tank pumped and then the buyer pays for an inspection to be done while the tank is empty. Further inspection can be done of the drainfield, if the buyer elects to take the inspection one step further.

Living on land is really appealing to people right now and properties on land are in high demand. Please let Linda or I know if you have any questions on this subject. We are here to help.
Dianne

Photo credit Getty images

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Market Activity June 15-21, 2020

This is one of the most beautiful times of the year here in LO. Perfect temperatures and just a bit of rain to help water the garden. It’s also a great time to buy or sell a house.

Last week in Lake Oswego we had 15 new listings, 22 properties go into pending status, and 21 sold/closed houses.

Following is the breakdown for you according to RMLS:

New on the Market (June 15-21, 2020)

Address Type Price BR Baths Sq Ft
100 Kerr Kkwy #2 Condo $170,000 2 2 833
13188 Vermeer Dr Detached $589,000 3 2.5 1862
86 Greenrideg Ct Attached $599,000 4 3.5 2718
5309 Lakeview Blvd Detached $599,550 2 1 1320
19 Morningview Circle Detached $629,000 3 2.5 2337
4962 Harvard Ct Detached $670,000 4 2.5 2522
1010 Laurel St Detached $825,000 3 3 2498
24 Del Prado St Detached $969,000 5 3.5 3357
815 Oak St Detached $1,035,000 4 3.5 3836
3938 Edens Edge Dr Detached $1,215,000 4 3.5 3882
14260 Uplands Dr Detached $1,284,000 4 3 2831
17680 Stafford Rd Lot 1 Detached $1,299,000 5 2.5 3804
3600 Southshore Blvd Detached $1,650,000 3 2.5 2117
1098 Chandler Rd Detached $1,995,000 4 3.5 3934
13600 Goodall Rd Detached $2,590,000 6 6.5 6612

Pending Sales (June 15-21, 2020)

Address Type Price BR Baths Sq Ft CDOM
16250 Pacific Hwy #68 Condo $210,000 1 1 900 12
668 McVey #82 Condo $235,000 2 1.5 992 24
3868 Botticelli St Condo $265,000 3 2 1260 12
48 Eagle Crest Dr 5C Condo $269,000 2 2 1443 201
5064 Foothills Dr #19 Condo $317,000 2 2 1252 12
885 McVey Ave Detached $450,000 3 1 1292 29
1778 Fern Pl Detached $499,900 2 2 1146 11
4851 Madrona St Detached $565,000 4 2 1500 22
13841 Verte Ct Detached $599,000 5 3 2341 8
1110 Hallinan Circle Detached $688,000 4 3.5 3548 63
9 Becket St Detached $719,000 4 2.5 3537 4
14183 Taylors Crest Ln Detached $785,000 4 2.5 3551 45
17965 Tualatin St Detached $849,900 3 2.5 2808 89
13711 Fielding Rd Detached $868,000 4 5 4649 77
553 2nd St Condo $890,000 2 2.5 1816 37
205th 5th St Detached $895,000 4 3 2556 52
2795 Rivendell Rd Detached $915,000 4 2.5 3518 3
163 Iron Mountain Blvd Detached $1,500,000 4 3.5 4314 71
17475 Canal Circle Detached $1,650,000 3 3 2290 0
2880 Upper Dr Detached $1,995,000 5 4.5 5853 63
4423 West Bay Rd Detached $2,349,900 4 3.5 2975 18
16723 Maple Circle Detached $2,450,000 3 2.5 2515 17

Sold/Closed (June 15-21, 2020)

Address Type List Price Sold Price Sq Ft CDOM
35 Oswego Summit Condo $235,000 $240,000 1212 3
5225 Jean Rd #208 Condo $265,000 $255,000 1,100 56
200 Oswego Summit Condo $260,000 $265,000 1383 2
16200 Pacific Hwy #15 Condo $399,000 $393,000 1190 56
16870 Cortez Ct Detached $449,900 $415,000 1800 80
5237 Dawn St Detached $494,800 $474,000 1412 42
668 McVey Ave #72 Condo $510,000 $482,000 1184 221
100 Kingsgate Rd Detached $515,000 $508,000 1960 5
2945 Upper Dr Detached $530,000 $530,000 1610 0
16824 Inverurie Rd Detached $565,000 $565,000 1945 1
3721 Tempest Rd Detached $615,000 $583,500 2572 46
3721 Tempest Dr Detached $615,000 $583,500 2572 46
1590 Country Club Rd Detached $950,000 $770,000 3799 251
14146 Edenberry Dr Detached $865,000 $865,000 3100 4
16792 Quail Ct Detached $900,000 $875,000 3222 91
1535 Pine St Detached $879,900 $899,000 2390 0
4904 Lower Dr Detached $939,000 $926,000 2803 3
16495 Glenwood Ct Detached $1,195,000 $1,160,000 4533 23
4720 Firwood Rd Detached $1,395,000 $1,310,000 3605 59
12822 Alto Park Rd Detached $1,495,000 $1,146,000 3426 91
17281 Kelok Rd Detached $1,875,000 $1,800,000 2699 4
2860 Glen Eagles Rd Detached $2,748,000 $2,700,000 6800 3

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.