Author: Dianne Gregoire

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Market Activity April 6-12, 2020

Doing this market activity report is super interesting in today’s market. Each week I am so eager to see what the numbers are. What I feel is happening is that yes, we’ve had a contraction in the market, but that it is stable. For the last few weeks the numbers have been pretty consistent. I think we have about half of what I would call “normal” activity, but it’s steady. In Lake Oswego last week we had 14 properties come onto the market, 11 accepted offers that put properties into pending status, and 13 closed/sold sales. While it is less than normal for April, it’s balanced. The range is 11-14 for all three categories.

Following is the breakdown for you according to RMLS:

New on the Market (April 6-12, 2020)

Address Type Price BR Baths Sq Ft
4000 Carman Dr #31 Condo $249,900 2 2 993
16200 Pacific Hwy #24 Condo $389,900 2 2 1190
6151 Carman Dr Detached $589,750 3 2 1641
2 Abelard St Detached $650,000 3 3-Jan 3080
49 Tanglewood Dr Detached $695,000 4 2.5 2502
5625 Ridgetop Ct Detached $725,000 4 2.5 2711
5 Westminster Detached $749,900 7 3 3104
461 Country Club Rd Detached $750,000 2 1.5 1500
55 Aquinas Detached $774,900 5 3 3720
14 Independence Ave Detached $779,000 5 3 3120
125 Furnace St #125 Condo $799,000 2 2.5 1927
1500 Eastview Ct Detached $829,999 4 3,5 3872
828 7th St Detached $939,000 3 4 2418
937 Atwater Detached $3,680,000 5 4.5 5123

Pending Sales (April 6-12, 2020)

Address Type Price BR Baths Sq Ft CDOM
5053 Foothills Dr A Condo $309,000 3 2 1252 78
18540 Kristi Way Detached $424,900 3 1.5 1277 26
1731 Aspen Ct Detached $489,000 3 2 1440 6
1001 Hallinan St Detached $515,000 4 2 2580 30
121 Wilbur St A2 Condo $537,500 3 2 1631 21
5511 Royal Oaks Dr Detached $575,000 3 2 1898 6
18679 Indian Creek Dr Detached $659,428 4 2.5 2292 2
15569 Village Park Ct Detached $729,000 3 2.5 2850 4
700 Pebble Beach Ct Detached $850,000 4 2 2527 2
1259 Lake Garden Ct Detached $1,099,000 4 3 2263 0
467 9th St Detached $1,385,000 3 2.5 2979 54

Sold/Closed (April 6-12, 2020)

Address Type List Price Sold Price Sq Ft CDOM
13 Oswego Summit Condo $178,000 $178,000 764 16
40 Cervantes Circle Condo $210,000 $210,000 912 3
107 Oswego Summit Condo $214,900 $212,000 1116 158
45 Eagle Crest Dr #200 Condo $265,000 $265,000 1348 44
48 Eagle Crest Dr #1B Condo $295,000 $290,000 1623 172
2415 Glen Haven Rd Detached $584,950 $580,000 2614 8
28 Tanglewood Dr Detached $575,000 $585,000 2282 8
1610 Ash St Detached $575,000 $599,475 2181 3
19505 Olson Ave Detached $842,700 $842,700 3022 21
1560 Cherry Crest Dr Detached $909,000 $909,000 3334 3
4485 West Rd Detached $1,095,000 $1,095,000 3678 537
14536 Pfeifer Dr Detached $1,495,000 $1,500,000 3957 4
1164 Crestline Ct Detached $2,495,000 $2,409,000 6800 21

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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Hoping For an Aquatics Center

Not including the 6 years I lived in Lake Oswego as a teenager, I have been living in Lake Oswego for 22 years. In all of that time, I have been wanting a decent swim center. I don’t swim regularly, I’m a walker, but I do love to swim. I think the reason I don’t swim regularly is because the current city pool is, well, awful. It’s located at Lake Oswego High School and was built many decades ago. It’s old, and dank, and just not inviting. So the news I got in the latest issue of Hello LO really lifted my spirits.

On March 16th, the Lake Oswego City Council, along with the Lake Oswego School Board, voted unanimously to proceed with planning and construction of a new Community Recreation and Aquatics Center. The plan is to build it where the Municipal Golf Course currently sits at the junction of Stafford Rd and Overlook Dr. The planned facility will include a lap pool, warm water pool (I think that means a spa), plus space for meetings and activities.

I currently swim at the SW Community Center in the Multnomah Village neighborhood of Portland. It’s about a 15 minute drive from my house, but worth it. I so hope what Lake Oswego builds will be something similar.

The nicest pool I’ve ever enjoyed was in Victoria, B.C. Called Saanich Commonwealth Place, it was built for The Commonwealth Games in 1994. What this swim center has that I think is pretty much pure genius, is a library and a coffee shop. Think about it. The kids need some exercise, you want a cup of coffee, and everyone needs a good book. Pure Genius.

Wishing you well in these strange times, and hoping that this swim center can still come to life,
Dianne

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Market Activity March 23-29, 2020

Based upon the numbers from last week’s market activity, I think we are seeing a contraction in the market place. In Lake Oswego we had 11 properties come onto the market, 8 move into pending status, and 14 sold/closed sales. The silver lining is that of the 8 pending sales, 6 sold in less than a week. So buyers are out there and they are ready to make a move.

I also want to say that Linda and I have been in this business long enough, through 9/11 and the great recession, to know that real estate never stops. This is because people’s lives happen. Babies are born, folks get divorced or transferred, life does not stop. If you need to make a move, you can still do that. Linda and I will do everything in our power to make your move as smooth as possible. We are here to help.

Following is the breakdown for you according to RMLS:

New on the Market (March 23-29, 2020)

Address Type Price BR Baths Sq Ft
42 Cervantes Circle Condo $195,000 2 1.5 912
5225 Jean Rd #208 Condo $265,000 2 2 1100
16250 Pacific Hwy #59 Condo $359,900 2 2 1305
5237 Dawn St Detached $494,800 3 5-Jan 1412
4900 Indian Creek Ct Detached $624,900 4 3 2124
934 Ash St Detached $724,900 4 2.5 1982
620 1st St Attached $750,000 3 3.5 1916
14655 Uplands Dr Detached $899,000 3 2 2462
13005 Sierra Vista Dr Detached $899,900 4 2.5 3448
1658 Village Park Ln Detached $1,258,000 4 3.5+.5 4634
16793 Graef Circle Detached $2,695,000 4 3.5 4220

Pending Sales (March 23-29, 2020)

Address Type Price BR Baths Sq Ft CDOM
15490 Brianne Ct Attached $329,000 2 2.5 1250 5
6313 Alyssa Terr Attached $389,000 3 2.5 1546 1
731 Clara Ct Detached $629,000 4 2.5 2700 1
17200 Canal Circle Detached $665,000 3 1.5 1774 6
4036 Melissa Dr Detached $849,900 4 3.5 3118 2
17896 Kelok Rd Detached $859,000 6 6 4093 212
2025 Wembley Park Rd Detached $899,900 3 2.5 2700 204
324 4th St Attached $625,000 2 2.5 1731 3

Sold/Closed (March 23-29, 2020)

Address Type List Price Sold Price Sq Ft CDOM
86 Kingsgate Rd Condo $269,900 $249,000 938 25
3834 Botticelli St Condo $279,500 $273,000 1,055 239
750 1st ST B3 Condo $395,000 $395,000 1546 7
68 Greenridge Ct Attached $515,000 $414,000 2868 293
14442 Orchard Springs Rd Condo $539,000 $520,000 1400 62
308 4th St Attached $625,000 $625,000 1731 90
18 Northview Ct Attached $675,000 $640,000 2671 21
780 2nd St Detached $699,900 $696,600 1536 3
4771 Avery Ln Detached $725,000 $785,000 2536 5
5533 Kenny St Detached $799,000 $810,000 2900 5
5340 Greystoke Dr Detached $1,095,000 $1,043,750 2955 34
19175 Stafford Rd Lot 4 Detached $1,529,950 $1,500,000 4524 388
19175 East Side Rd Detached $1,400,000 $1,270,000 5276 657
707 Lake Shore Rd Detached $1,925,000 $1,725,000 2992 98

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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Buyers Who Phish

There is a phenomenon that has been going on for a few years. It’s not new, it’s just become widespread. Perhaps you’ve experienced it. What I’m talking about is the unsolicited offer of interest in purchasing your house. These usually come in the form of letters in the mail, but I have had phone calls and text messages as well. One person included a $1 bill with each letter. I got quite of few of them, saved up the money on a magnet on my refrigerator, and then used it for a nice meal. That one in particular I really liked. I call these phishing buyers because they are phishing for houses that have not yet come onto the traditional real estate market.

I know not everyone gets these sorts of letters, but I also know that quite a few do. I know this because my clients tell me that they have received them and I frequently reach out to the letter writer to find out how serious their interest is. Up until about a month ago I’d never seen how this sort of offer might play out.

This brings me to the reason now is a great time to write about this experience. I have a client who is under water on her house. Job changes have made her life difficult and her house is now in foreclosure. She has been working very, very hard to keep her house, so this has been going on for quite some time. When you have this happen, the mortgage holder will start to put notices on the public record about the proceedings and when these notices come out, it brings out investors. Thus my client has been getting lots and lots of these sorts of letters.

Knowing she would be selling the house, we developed a strategy. She gave me all of the letters, emails, text messages, etc and I reached out to all interested parties. I let them know that yes, the house would be coming onto the market and that I was keeping a list of those who had shown interest. I let them know that I’d inform them when the house came up for sale. So, in a way, these folks had advanced knowledge. But I also wanted to let the true market forces play out to get my client the highest and best price for the house.

What these phishing buyers offer is that they will pay all cash, as is, and close in whatever time frame that works for the home owner. It’s very tempting. It would be rather ideal to be able to sell for cash, as is, and not have to show it to others. But at what price? What is the price of that convenience? Well, I had a chance to find out.

When this house came up for sale the ability to show it was very limited. I will not go into details here, but it made sense to set up 3 open houses over the course of 3 days. This allowed me to have control of the house and to talk to everyone who came through. The house is what is commonly called a “fixer”. It’s in a nice neighborhood. It’s the sort of property that investors are clamoring to find. I knew it would sell quickly. I did my analysis of the price. I looked at what it would be worth fixed up and then subtracted for what I thought it would take to bring it up to at least average condition. Then I found a nearly identical house in the exact same condition, in the neighborhood, on the same size lot. This was gold. This house really set the market value.

Over the course of 3 days we got 6 offers. Two came from the phishing buyers who had expressed interest via letters or other contact after they found it in the public records. 4 came from interested buyers who were working with Realtors. 4 of the offers, including the 2 “phishing” buyers came in between $35,000 to $85,000 below the asking price. 2 offers came in ABOVE the asking price. All 6 offers were all cash, as is, and willing to work with my clients time frame. The buyer in escrow really wants this house, and, in my opinion, is paying fair market value for it. It’s in escrow at more than the asking price.

Ok, every situation is different. I can not promise you that you would experience the same thing. But I do have a very strong conclusion. That is that you should not be tempted by the convenience of unsolicited offers that promise you an all cash deal, as is, unless you are not concerned too much about how much it will sell for. If you want to get more money for the house, I recommend you go after a buyer with those terms who competes for the house in the full market place to get you what the house is really worth.

That’s my 2 cents. Please let me know if you have any questions,
Dianne

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Market Activity March 9-15, 2020

I was really excited to do this market activity report. What’s on my mind is also what is on yours, the coronavirus. How is it affecting the real estate market? Well, as of last week, not much. New listings in Lake Oswego numbered 18, pending sales were 16 and closed/sold properties were 10. That’s right in line with what we have been experiencing. This is not to say that the coronavirus will not have an impact, but I like numbers. Numbers are factual. I think the importance of the market activity reports that Linda and I do has increased substantially.

Following is the breakdown for you according to RMLS:

New on the Market (March 9-15, 2020)

Address Type Price BR Baths Sq Ft
3918 Carman Dr Condo $299,900 2 2.5 1107
3101 McNary Parkway #19 Attached $410,000 3 2.5 1894
1001 Hallinan St Detached $549,000 4 2 2580
47 Da Vinci St Detached $599,000 3 2.5 2467
1640 Woodland Terrace Detached $619,900 4 3 2398
4932 Mulholland Dr Attached $712,000 3 2.5 2498
3333 Royce Way Detached $849,900 3 2.5 2896
17668 Woodhurst Pl Detached $899,000 4 2.5 4281
17390 Grand View Ct Detached $999,500 4 4.5+.5 4502
950 Cedar St Detached $1,079,900 4 3.5 3266
1267 Maple St Detached $1,098,000 4 2.5 3388
16 Bernini Ct Detached $1,250,000 6 5 4786
2575 Palisades Crest Dr Detached $1,250,000 4 4.5 5251
16946 Bryant Rd Detached $1,349,000 3 2 1348
18026 Skyland Circle Detached $1,399,000 5 3.5 4117
285 Berwick Rd Detached $1,400,000 3 3.5 2518
15800 Oswego Shore Ct Detached $1,599,000 4 3.5 3995
1101 Crestline Ct Detached $4,568,000 4 4.5+.5+.5 7226

Pending Sales (March 9-15, 2020)

Address Type Price BR Baths Sq Ft CDOM
3868 Botticelli St Condo $249,900 3 2 1224 13
86 Kingsgate Rd Condo $259,900 2 2 938 25
3956 Carman Dr Condo $299,990 2 2.5 1107 17
6207 Harrington Ave Detached $389,000 3 1 960 11
102 Greenridge Ct Attached $424,000 3 2.5 2004 197
19415 Sycamore Ave Detached $450,000 3 2 1584 12
21 Partridge Ln Detached $599,000 5 3 2492 8
3745 Division Ct Detached $599,900 3 2 1390 3
13395 Vermeer Dr Detached $599,980 4 2.5 2461 3
2405 Dellwood Dr Detached $699,000 5 3 2336 6
3781 Tempest Dr Detached $899,900 4 2.5 3927 21
13483 Fielding Rd Detached $899,999 4 3 3149 62
13845 Amberwood Circle Detached $1,089,000 4 3 3283 3
17614 Blue Heron Rd Detached $1,239,000 4 3 3320 2
4484 West Bay Rd Detached $1,250,000 5 2.5 4417 2
401 9th St Detached $1,299,000 4 3.5 4288 21

Sold/Closed (March 9-15, 2020)

Address Type List Price Sold Price Sq Ft CDOM
100 Kerr Parkway #52 Condo $168,950 $125,000 617 110
28 Greenridge Ct Attached $379,000 $340,000 1,642 128
12846 Boones Ferry Rd Condo $389,000 $389,900 1234 107
5057 W Sunset Dr Attached $499,000 $469,500 1720 45
2931 Vale Ct Detached $557,800 $542,000 2311 4
304 6th St Detached $550,000 $545,000 941 89
4933 Mulholland Dr Attached $618,000 $587,000 2403 126
507 Ash St Detached $799,000 $675,000 4666 144
19262 Pilkington Rd Condo $699,900 $699,900 2194 124
1623 Maple St Detached $1,350,000 $1,215,000 4797 183

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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Market Activity Feb 24-Mar 1, 2020

As spring approaches, the inventory is picking up. Last week in Lake Oswego we had 18 houses come onto the market, 15 that moved into pending status, and 12 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (Feb 24-Mar 1, 2020)

Address Type Price BR Baths Sq Ft
3868 Botticelli St Condo $174,900 3 2 1224
3956 Carman Dr Condo $299,990 2 2.5 1107
6207 Harrington Ave Detached $389,000 3 1 960
19 Bloch Terrace Attached $425,000 2 2 1527
1400 Parrish St Condo $460,000 3 2.5 1863
14799 Uplands Dr Detached $724,900 4 2 2150
19505 Olson Ave Detached $842,700 5 2.5 3022
17879 Hillside Dr Detached $849,999 3 3 3149
1511 Pine Detached $879,900 3 2.5 2390
1523 Pine Detached $879,900 3 2.5 2390
1317 Laurel St Detached $899,900 4 2.5 2259
727 Laurel St Detached $985,000 3 3.5 3365
1061 Chandler Rd Detached $990,000 4 3 2879
54 Wilbur St Condo $1,297,000 3 3.5 3600
13156 Thoma Rd Detached $1,449,000 5 3.5 3494
3040 Stonebridge Way Detached $1,590,000 4 4.5 5829
610 4th St Detached $1,650,000 4 2.5 3394
2101 Goodall Ct Detached $2,249,000 4 4.5 4058

Pending Sales (Feb 24-Mar 1, 2020)

Address Type Price BR Baths Sq Ft CDOM
13 Oswego Summit Condo $178,000 1 1 764 16
45 Eagle Crest Dr #200 Condo $265,000 3 2 1348 44
4268 Woodside Circle Attached $365,000 4 2 1944 296
750 1st St B-3 Condo $395,000 2 2 1546 7
7 Partridge Ln Detached $550,000 3 3 2264 4
28 Tanglewood Dr Detached $575,000 4 2.5 2282 8
5063 Greensborough Ct Detached $575,000 3 2.5 1647 2
2415 Glen Haven Rd Detached $584,950 5 3 2614 8
1031 Laurel St Detached $619,900 4 2 2426 6
308 4th St Attached $625,000 2 2.5 1731 90
5533 Kenny St Detached $799,000 4 3 2900 5
16792 Quail Ct Detached $900,000 4 2.5 3222 6
14536 Pfeifer Dr Detached $1,495,000 4 3.5 3957 4
13217 Amber Pl #1 Detached $1,650,000 4 3.5 3861 6
1164 Crestline Ct Detached $2,495,000 5 4.5+.5 6800 21

Sold/Closed (Feb 24-Mar 1, 2020)

Address Type List Price Sold Price Sq Ft CDOM
1408 Cedar St Detached $425,000 $400,000 1104 1
6014 Seville Ave Detached $519,900 $515,000 1,882 3
6010 Burma Rd Detached $549,000 $549,000 1260 12
5207 Rosewood St Detached $559,900 $557,500 1438 5
1981 Summit Dr Detached $579,000 $578,000 2189 4
4911 Parkhill St Detached $599,900 $611,200 2132 5
76 Greenridge Ct Attached $650,000 $639,000 2868 25
14865 Twin Fir Ct Detached $949,500 $770,000 3161 256
4092 Orchard Way Detached $835,000 $810,000 3591 140
15203 Lily Bay Ct Detached $894,900 $850,000 3219 229
1405 Country Commons Ln Detached $1,200,000 $1,050,000 4083 142
1692 Village Park Ln Detached $1,198,000 $1,160,000 3581 171

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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Big Zone Change

Last year the Oregon legislature passed two zoning laws that are going to have big impact on every town in Oregon that has a population of over 10,000 people.

House bill 2001 requires towns with more than 10,000 to allow “middle housing” in neighborhoods that have previously been zoned for single family dwellings. Middle housing is duplexes, triplexes, fourplexes, townhomes and cottage clusters. Duplexes must be allowed on every lot where single family housing is allowed. The other options have some restrictions. The State Department of Land Conservation and Development is currently working to determine what this means and what cities must do to be in compliance.

House bill 2003 requires cities to study future housing needs and to develop strategies to meet those needs. Lake Oswego is required to do this study and provide a housing needs assessment by 2023.

Obviously this is super controversial. The need for more housing is evident and it is good the State is working to provide more housing options. It could be a win-win for homeowners who want some rental income or want to provide affordable housing to friends or family members. But the flip side is that it will have an impact on the character of our neighborhoods. It will also create greater density that will put a strain on city infrastructure.

For more information visit the City of Lake Oswego website, www.lakeosweago.ciy and search for file “PP 19-0008”, or call Erik Oson, Senior Planner, at 503-697-6524.

As always, thanks for reading the blotter.
Dianne

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Market Activity Feb 10-16, 2020

Last week in Lake Oswego there were 7 new listings, 21 properties that went into pending status, and 11 sold/closed sales. What stands out for me is the Days on the Market for the pending sales. Several were on the market for extremely extended periods of time. The average days on the market for this group is 160 days. Now, knowing this, look at how few houses came onto the market compared to houses that received accepted offers: 7 new listings and 21 pending sales. The inventory is currently lower than the demand. This is motivating buyers to look at the houses that have been around for a while and is generating offers. It’s a great time to list your house for sale!

Following is the breakdown for you according to RMLS:

New on the Market (Feb 10-16, 2020)

Address Type Price BR Baths Sq Ft
13 Oswego Summit Condo $178,000 1 1 764
2025 Wembley Park Rd Detached $925,000 3 2.5 2700
2250 Southshore Blvd Detached $1,299,000 4 4.5 4432
467 9th St Detached $1,385,000 3 2.5 2979
839 F Ave Detached $1,450,000 4 3.5 3780
49 Briarwood Rd Detached $1,490,000 3 2.5 3000
4160 Lakeview Blvd Detached $1,598,000 4 4.5 3904

Pending Sales (Feb 10-16, 2020)

Address Type Price BR Baths Sq Ft CDOM
317 Cervantes Condo $229,900 2 2 1209 178
16250 Pacific Hwy #71 Condo $245,000 2 2 1305 257
4425 Thunder Vista Ln Condo $299,000 2 2.5 1980 168
5053 Foothills Dr D Condo $315,900 2 2 1252 124
4210 Woodside Circle Attached $399,900 3 2 1778 151
304 6th St Detached $550,000 1 1 941 89
6450 Frost St Detached $594,900 4 2.5 2216 3
4933 Mulholland Dr Attached $599,900 2 2.5 2403 126
2 Morningview Ln Detached $625,000 4 3.5 2898 241
507 Ash St Detached $675,000 5 4 4666 144
18 Northview Ct Attached $675,000 3 3.5 2671 21
4771 Avery Ln Detached $725,000 4 2.5 2536 5
17393 Grandview Ct Detached $795,000 4 3.5 3672 108
14611 Uplands Dr Detached $975,000 3 3 3028 2
5340 Greystoke Dr Detached $1,095,000 3 4 2955 34
717 5th St Detached $1,279,950 4 2.5 2809 3
2050 Childs Rd Detached $1,295,000 4 4.5 4814 272
12822 Alto Park Rd Detached $1,495,000 4 4.5 3426 0
17686 Stafford Rd Lot 4 Detached $1,529,950 5 3.5 4524 388
1190 Fairway Rd Detached $2,599,000 4 4.5 5855 90
4175 Southshore Blvd Detached $3,900,000 4 4.5 6332 961

Sold/Closed (Feb 10-16, 2020)

Address Type List Price Sold Price Sq Ft CDOM
202 Cervantes Condo $205,000 $187,500 890 212
4000 Carman Dr #19 Condo $210,000 $210,000 836 5
3433 McNary Pkwy #301 Condo $229,000 $219,000 1208 128
4456 Sunset Dr Detached $495,000 $495,000 2024 8
5095 Oakridge Rd Detached $549,000 $583,000 1743 3
2425 Prestwick Rd Detached $719,000 $690,000 1464 46
14066 Chetham Ct Detached $835,000 $826,500 2800 3
2475 Marylview Ct Detached $849,000 $840,000 3009 100
5581 Yorkshire Pl Detached $825,000 $898,500 3218 3
13599 Meadowcreek Ln Detached $1,090,000 $1,130,101 3415 6
1100 Bayberry Rd Detached $1,625,000 $1,545,000 3507 105

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 Importance of Great Photography

In today’s real estate market, pretty much 100% of buyers start with the Internet. There are numerous websites that are popular, but all of them upload the information about your home from the same source, the Regional Multiple Listing Service. This data is generated by the Realtor you hire to market your home. Part of that marketing is taking pictures. Today, the RMLS allows up to 32 photos. That’s a lot of pictures.

Here are a few tips to prepare your home for photography.

1. Declutter and remove personal mementos. This is something that I have stressed on numerous occasions, but it just can not be said enough. Clutter decreases value. In photos, it makes a room look small and cramped.

2. Remove seasonal decorations, particularly right now. If you still have holiday decorations up and they appear in photos, it will make your home look like it’s been on the market for two months, even if it’s just now being listed.

3. Outside, hide the garbage cans and the bikes.

4. Trim back the landscaping to benefit seeing windows when exterior pictures are taken, and also to let as much light as possible into the house for the interior photos.

5. Use a Realtor who hires a professional photographer. I’ll admit, I think I’m pretty good at taking pictures. I am a hobby artist and pride myself on knowing angles and directions to photograph, but I can not match the skill of a professional photographer. It’s more than taking the photos. It’s also having the best camera and lens, along with editing. I using an amazing photographer who has a background in graphic design. She sets her camera up on a tripod and then takes multiple photos of the same shot, but using different light exposures. She then edits the photos, combining them, to get the absolute best light exposure.

6. Lots of photographers, not the person I prefer, set a limited window of time, usually about 45 minutes or so. In other words, they won’t have time to open drapes or turn on lights. So be prepared to have your home “photo ready” when they arrive. This means turning on every light in every room. Open all of the drapes to let light in. Consider building a fire in the fireplace.

7. Every property deserves professional photography. No matter the price point, the photos are important.

The photos featured in this post were from a listing I recently had in Mountain Park. This house sold on the first day for $10,000 over the asking price. I hope you can see why. It was a gorgeous house, but the photos…just, wow.

I hope you have found this information helpful. As always, thanks for reading the blotter.
Dianne

Posted on

Market Activity Jan 27-Feb 2, 2020

Last week in Lake Oswego there were 6 new listings that came onto the market, 14 properties that had offers received and accepted to go into pending status, and 10 closed/sold.

Following is the breakdown for you according to RMLS:

New on the Market (Jan 27-Feb 2, 2020)

Address Type Price BR Baths Sq Ft
34 Wheatherstone #17 Attached $385,000 3 2.5 1692
259 Pine Valley Rd Detached $850,000 3 2 2010
18820 Green Blulff Dr Detached $1,425,000 4 4.5 5572
408 Northshore Rd Detached $1,448,000 4 3.5 3753
2880 Upper Dr Detached $1,995,000 5 4.6 5853
1188 Cherry Circle Detached $2,498,000 5 6.5 8772

Pending Sales (Jan 27-Feb 2, 2020)

Address Type Price BR Baths Sq Ft CDOM
4384 Woodside Circle Attached $375,000 3 2 1705 2
2001 Country Club Rd Detached $549,000 3 2 2022 141
16106 Lake Forest Blvd Detached $549,900 3 1.5+.5 3440 575
2500 Greentree Rd Detached $559,000 3 2 1502 5
1981 Summit Dr Detached $579,000 3 2.5 2189 4
17291 Cedar Rd Detached $585,000 6 3 2872 228
4045 Bass Ln Detached $599,000 4 2.5 2158 137
4911 Parkhill St Detached $599,900 4 2.5 2158 137
15510 Partridge Dr Detached $610,000 3 2.5 2298 2
2103 Ridgewood Rd Detached $664,900 4 2 1650 3
13711 Fielding Rd Detached $889,950 4 4 4649 224
13599 Meadowcreek Ln Detached $1,090,000 4 3.5 3415 6
1623 Maple St Detached $1,249,900 5 3.5 4797 183
305 Chandler Pl Detached $1,400,000 6 4 3390 1

Sold/Closed (Jan 27-Feb 2, 2020)

Address Type List Price Sold Price Sq Ft CDOM
124 Oswego Summit Condo $245,000 $238,000 1140 233
22 Condolea Dr Condo $385,000 $375,000 1,448 132
16317 Bonaire Ave Detached $369,900 $385,000 1219 4
668 McVey Ave Condo $410,000 $400,000 852 31
38 Briarwood Rd Detached $800,000 $462,000 2554 493
3241 Phyllis Ct Detached $525,000 $502,000 2674 8
30 Becket Detached $544,999 $535,000 2077 113
16800 Lakeridge Dr Detached $1,100,009 $1,049,000 2369 138
4316 Upper Dr Detached $1,349,000 $1,130,000 4376 257
878 7th St Detached $1,350,000 $1,280,000 3017 7

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.