Author: Dianne Gregoire

Posted on

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

Posted on

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.

Posted on

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

Posted on

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.

Posted on

A Bit About Basements

Most homes built before 1930 have basements. For Realtors and Appraisers, the existence of basements square footage is a bit of a conundrum. Should it be included in the square footage of the house? How valuable is it? Well, that depends…

First, some history on basements. I learned this from my favorite home inspector. A century ago when building was really booming in Oregon, the builders were primarily folks who had learned their trade back East, or from someone who had come from back East. The East coast has much colder winters than the Pacific Northwest. A house constructed in a location with really cold winters has to have a foundation that is deep enough that it is below the freezing depth of the soil. If it isn’t deep enough, the soil will expand when it freezes which can lift and damage the house. So in the East basements serve the purpose of getting the footing of the foundation deep enough. Then in about 1940 or so, builders in Oregon realized that our more mild winters meant that the foundations did not have to be that deep. Thus construction practices changed and builders quit building houses with basements.

It’s important to note that basements were not built with the intention of being water tight. They were built to protect the house from harsh, cold winters.

Now fast forward to today. When a house has a basement it is an asset to the property in that, even if leaky and unfinished, it is useful space. In a really bad basement storage can be elevated and it is a bit like a garage where you can put holiday decorations, paint, tools, stuff that you don’t need every day but want to keep around. Most basements are more than just a little bit useful and not all basements leak. Drainage systems can be installed and basements can be finished to be really great living areas.

So how do you value a basement. It truly depends on how well it is finished. If completely unfinished, I calculate the value of the house itself, above the basement. Once I know the value per square foot of that space, I give the square footage in the basement half the value per square foot of what is above it. If it is really beautifully finished, I will give it just about the same value as what is above it. But to get that kind of value it truly has to be well done with appropriate finish work, lighting, and an egress (a way out other than the interior stairs to get out in the event of a fire).

When I first got my real estate license I did not include unfinished basement square footage in the advertised size of the house. But over the years I came to realize that other properties with unfinished basements were including that space. To not include it made my listings sound small. So I now include it but I also clearly state whether the basement is finished or not and that it is included in the square footage.

There you have it, a bit about basements. Thanks for reading,
Dianne

Posted on

Market Activity June 1-7, 2020

Market Activity in Lake Oswego last week looked completely like it should in June. Seriously, everything has really picked up. We had 28 new listings, 26 properties go into pending status, and 17 sold/closed properties. The housing market is really strong, and right now, suffering no adverse trends due to Covid 19. Good news!

Following is the breakdown for you according to RMLS:

New on the Market (June 1-7, 2020)

Address Type Price BR Baths Sq Ft
47 Eagle Crest Dr #11 Condo $199,999 2 1 932
16250 Pacific Hwy #68 Condo $210,000 1 1 900
3868 Botticelli Condo $265,000 3 2 1260
5225 Jean Rd #304 Condo $329,500 3 2 1400
16200 Pacific Hwy #7 Condo $495,000 2 2 1190
1778 Fern PL Detached $499,900 2 2 1146
71 Greenridge Ct Attached $585,000 3 2.5 2004
2388 Overlook Dr Detached $678,000 4 3 2765
17520 Redfern Ave Detached $692,000 2 2 1776
1338 Timberline Dr Detached $874,900 3 3 3754
19263 Megly Ct Detached $899,900 5 3 3242
19242 Indian Springs Rd Detached $995,000 4 2.5 3365
14144 Goodall Rd Detached $998,000 4 3 3701
18125 Pilkington Rd Detached $1,099,000 4 3 3229
19230 Bryant Rd Attached $1,295,000 8 4.5 3440
18260 River Edge Ct Detached $1,350,000 4 3.5 4711
17455 Blue Heron Rd Detached $1,425,000 3 2 2572
18965 Pilkington Rd Detached $1,439,000 4 3 3926
743 6th St Detached $1,675,000 5 3.5 3922
4245 West Bay Rd Detached $2,350,000 4 3.5 2958
17147 Old River Dr Detached $2,350,000 4 4.5+.5 6936
16723 Maple Circle Detached $2,450,000 3 2.5 3887
15591 Village Dr Detached $2,495,000 5 4.5 6040
2025 Cedar Ct Detached $2,795,000 5 3 3887
18414 Old River Landing Detached $2,980,000 4 4.5+.5 7022
2950 Lakeview Blvd Detached $3,100,000 4 3.5 4299

Pending Sales (June 1-7, 2020)

Address Type Price BR Baths Sq Ft CDOM
4 Touchstone #94 Condo $145,900 3 2.5 1351 243
4000 Carman Dr B27 Condo $229,000 2 2 869 70
4000 Carman Dr F90 Condo $229,900 2 2 834 4
668 McVey Ave #82 Condo $235,000 2 1.5 992 8
209 Oswego Summit Condo $250,000 2 2 1383 2
200 Burnham Rd #205 Condo $320,000 2 2 1305 10
6025 Kenny St Detached $489,900 3 1.5 1254 2
120 Kingsgate Rd Detached $519,800 3 2.5 1699 15
22 Morningview Circle Detached $615,000 4 2.5 2942 152
1032 Laurel St Detached $599,000 4 2 2426 109
34 Morningview Circle Detached $615,000 4 2.5 2942 152
17410 Wren Ct Detached $749,900 3 2.5 2550 4
461 Country Club Rd Detached $750,000 2 1.5 1500 57
4089 Melissa Dr Detached $799,000 4 2.5 2762 22
4680 Upper Dr Detached $825,000 3 2 1656 2
6351 Burma Rd Detached $829,000 4 4 3500 196
4360 Upper Dr Detached $915,000 3 2.5 2613 13
18483 Ray Ridge Dr Detached $925,000 3 2.5 3245 9
18803 Riven Dell Ct Detached $1,050,000 4 4.5 4538 310
2575 Palisades Crest Dr Detached $1,050,000 4 4.5 5251 82
1225 Lake Garden Ct Detached $1,195,000 3 3.5+.5 3558 38
814 Lake Shore Rd Detached $1,249,000 3 2.5 2385 79
671 5th St Detached $1,285,000 4 2.5 2781 20
3040 Stonebridge Way Detached $1,490,000 4 4.5 5829 100
1592 View Lake Ct Detached $1,649,000 3 3 3114 313
17281 Kelok Rd Detached $1,649,000 3 3 3114 313
17227 Canal Circle Detached $2,795,000 5 4.5 4720 79
961 Terrace Dr Detached $3,095,000 5 4.5+.5 5542 25

Sold/Closed (June 1-7, 2020)

Address Type List Price Sold Price Sq Ft CDOM
86 Kingsgate Rd H104 Condo $224,900 $222,000 840 59
3956 Carman Dr Condo $299,990 $299,990 1,107 63
15 Summit Ridge Ct Attached $438,888 $415,000 1750 42
1 El Greco St Detached $499,900 $425,000 2296 69
1042 Yates ST Detached $469,900 $454,000 1100 4
1010 Hallinan Detached $497,900 $497,900 1225 6
13395 Vermeer Dr Detached $599,980 $560,000 2461 75
16885 Denny Ct Detached $625,000 $575,000 1712 26
1485 Greentree Circle Detached $565,000 $577,500 2440 3
1639 Worthington St Detached $649,900 $649,900 1920 16
92 Garibaldi St Detached $769,000 $745,000 3172 37
10 Buckingham Terr Detached $759,900 $750,000 3763 19
960 Bullock St Detached $849,900 $835,000 3062 11
1666 Lake Front Rd Detached $1,375,000 $1,375,000 3312 54
18404 Old River Landing Detached $2,098,000 $2,000,000 4295 17
3015 Wembley Park Rd Detached $2,469,900 $2,340,000 5211 249
937 Atwater Rd Detached $3,680,000 $3,450,000 5123 56

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.

Posted on

Featured Property: 26075 SW Mountain Rd

I am pretty excited to tell you about a new listing. Located just South of Lake Oswego in a rural area known as Stafford, this house sits on 30+ acres. 26075 SW Mountain Rd was built in 1977 and this is the first time it has ever been offered for sale. It says a lot about a house when it is enjoyed by the same family for 43 years.

The house has 6297 square feet that includes 5 bedrooms and 3.5 baths. A great room addition was ut on about 15 years ago that features a 21’x20′ gourmet kitchen. This kitchen has 2 ovens, 2 dishwashers, and 3 sinks. It’s the sort of kitchen that avid cooks dream of. There are expansive windows that let in Southern light and look out across the land.

The land has 2 lots. 6.46 acres contains the house and a 90’x35′ barn. The second lot is 24.7 acres and it is approved for 2 building sights. There are extensive raised beds, a fruit orchard, and gorgeous landscaping. The 24.7 acres was used for many years as a deciduous tree nursery. It has a well that has not been tapped as well as drainage tiles.

The asking price for this gorgeous property is $3,500,000. If you have questions or would like to see this property, please give Dianne a call at 503-803-6298.

AS always, thanks for reading the blotter!

Posted on

Market Activity May 18-24, 2020

The market is holding steady. Lake week in Lake Oswego there were 15 new listings, 25 properties that went into pending status, and 8 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (May 18-24, 2020)

Address Type Price BR Baths Sq Ft
44 Eagle Crest Dr #41 Condo $228,900 2 1 908
16250 Pacific Hwy #81 Condo $249,000 1 1 841
47 Eagle Crest Dr #60 Condo $269,000 3 2 1026
16250 Pacific Hwy #47 Condo $295,000 2 1 1305
200 Burnham Rd #205 Condo $320,000 2 2 1305
885 McVey Ave Detached $469,000 3 1 1292
120 Kingsgate Rd Detached $519,800 3 2.5 1699
1611 Lindsay Ct Detached $565,000 3 2.5 1840
5465 Childs Rd Detached $589,900 4 2 1487
4746 Amherst Ct Attached $675,000 3 2.5 2985
4360 Upper Dr Detached $915,000 3 2.5 2613
18229 River Edge Ct Detached $1,050,000 4 3 3432
3180 Douglas Circle Detached $1,475,000 5 2.5+.5 4768
881 C Ave Detached $1,600,000 4 2.5 3267
2860 Glen Eagles Rd Detached $2,748,000 5 4.5 6800

Pending Sales (May 18-24, 2020)

Address Type Price BR Baths Sq Ft CDOM
5225 Jean Rd #208 Condo $255,000 2 2 1100 56
200 Oswego Summit Condo $260,000 2 2 1383 2
4646 Lower Dr Condo $275,000 2 2 1260 8
4270 Woodside Circle Condo $357,500 3 2 1944 3
27 Greenridge Ct Attached $420,000 3 2.5 2140 5
16870 Cortez Ct Detached $479,900 3 2 1800 80
5215 Madrona St Detached $479,900 3 2 1325 4
77 Condolea Way Condo $520,000 3 3 2143 66
3 Garibaldi St Detached $720,000 3 3 3137 153
55 Aquinas St Detached $759,900 5 3 3720 43
1590 Country Club Rd Detached $799,000 4 3.5 3799 251
1500 Eastview Ct Detached $799,999 4 2.5 3872 40
173 Furnace St Condo $819,900 2 2.5 2090 18
14146 Edenberry Dr Detached $865,000 4 2.5 3100 4
5364 Langford Ln Detached $869,000 4 2.5 3022 25
16368 Lake Forest Blvd Detached $899,000 4 2.5 2750 101
727 Laurel St Detached $900,000 3 3.5 3365 80
16720 Quail Ct Detached $900,000 4 2.5 3222 91
17390 Grand View Ct Detached $975,000 4 4.5+.5 4502 71
1 Dover Way Detached $975,000 4 3 3559 1
1061 Chandler Rd Detached $990,000 4 3 2879 82
2445 Glenmorrie Dr Detached $1,299,000 5 5 5168 98
1901 Cheryl Ct Detached $1,325,000 4 4.5 5068
749 7th St Detached $1,385,000 4 3.5 4651 28
4720 Firwood Rd Detached $1,395,000 4 3 3605 59

Sold/Closed (May 18-24, 2020)

Address Type List Price Sold Price Sq Ft CDOM
4268 Woodside Circle Attached $375,000 $335,000 1944 351
12888 Boones Ferry Rd Condo $419,900 $408,000 1,182 44
16943 Greentree Ave Detached $625,000 $606,206 2344 4
4188 Cobb Way Detached $649,900 $699,000 2586 4
15780 Twin Fir Rd Detached $819,000 $770,000 3107 439
14564 Kruse Oaks Blvd Detached $879,500 $870,000 3001 5
718 3rd St Detached $1,590,000 $1,547,650 3759 1
852 Northshore Rd Detached $1,898,000 $1,630,000 4211 343

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.

Posted on

To Stage or Not To Stage

Twenty years ago staging a home prior to putting it on the market was not very common. Cleaning the house and hiding the litter box was enough. That has really changed. I think the biggest difference for this change is the Internet. 99% of buyers shop for their new home on line. Not only does staging your home dramatically improve the look of the house when people come to see it, but it makes the photos of the house really pop.

The National Association of Realtors did a study in which they surveyed Realtors who work with buyers and Realtors who work with sellers. 58% of Realtors think that a house will sell for more if it is staged. How much more varies. 29% believed a house would sell for 1-5% more. 21% believed a house would sell for 6-10% more. 3% felt it could sell for as much as 20% more.

Bear in mind that this still means that 42% did not give an opinion that it would sell for more.

My opinion is that the house still needs to be priced at market value. When you combine this with the staging the house will get lots of interest because the value will be so obvious. This can generate multiple offers and that is what will drive the price up. How far up? Easily 1-5%. More than that? Maybe.

What you don’t want to do is stage the house and expect to get more for it, and then price it above market value. Buyer’s are smart. They shop, they have aps, they are not likely to pay more than the property is worth, even if the staging makes the house look great. So when it comes to pricing, proceed with caution.

How much does it cost? According to themortgagereports.com, the initial consultation costs an average of $675. If you can do the staging with stuff you already own, then that would be it. Pretty cheap. If you are also needing furnishings the cost averages about $500-$600 a month for as long as it is needed in the house.

You don’t need to stage every room. The most important room is the living room, the family room, the kitchen/dining area, and the master bedroom. Beyond that, see what your budget can handle.

Last, staging is not a requirement. I still think decluttering and deep cleaning take the prize for the must do preparation for selling.

Please let Linda or I know if you need a reference for a staging company. We have our favorites and are happy to provide you with a list that will give you a good start.

As always, thanks for reading The Blotter,
Dianne

Posted on

Market Activity May 4-10, 2020

Market activity picked up in Lake Oswego last week. There were 15 new listings, 25 houses that went into pending status with accepted offers, and 14 closed sales. Buyers are making offers at really nice rate.

Following is the breakdown for you according to RMLS:

New on the Market (May 4-10, 2020)

Address Type Price BR Baths Sq Ft
4 Touchstone #71 Condo $199,000 2 2 984
4 Touchstone #146 Condo $244,900 2 2 979
65 Church St Condo $299,950 2 2 1040
1042 Yates St Detached $469,900 3 1.5 1100
16251 Reese Rd Detached $745,000 3 2.5 2555
5675 Victoria Ct Detached $800,000 3 2.5 2546
173 Furnace St Condo $819,000 2 2.5 2090
5820 Stewart Glen Ct Detached $849,000 5 2.5 3262
2944 Vale Ct Detached $984,000 4 2.5 3718
13592 Goodall Rd Detached $1,345,000 5 3.5 3735
15444 Boones Way Attached $1,380,000 3 2.5 3488
1471 Woodland Terr Detached $1,399,000 5 4.5 5724
792 5th St Detached $1,550,000 4 4.5 4379
13337 Leslie Ct Detached $2,250,000 4 4.5 4638
961 Terrace Dr Detached $3,095,000 5 4.5+.5 5542

Pending Sales (May 4-10, 2020)

Address Type Price BR Baths Sq Ft CDOM
8 Cervantes Circle Condo $209,900 2 1.5 912 17
86 Kingsgate Rd H104 Condo $224,900 2 2 840 59
5225 Jean Rd #208 Condo $255,000 2 2 1100 43
16200 Pacific Hwy #15 Condo $395,000 2 2 1190 56
5237 Dawn St Detached $479,000 3 1.5 1412 42
668 McVey Ave #72 Detached $495,000 3 2 1184 221
1010 Hallinan St Detached $479,900 3 1.5 1225 6
1 El Greco St Detached $499,900 4 2.5 2296 69
2091 Country Club Rd Detached $550,000 5 2 2112 109
100 Leonard St 3-4 Condo $569,000 3 2 1736 188
383 Ash St Detached $639,000 3 2.5 1825 1
905 York Rd Detached $649,000 3 2 1657 10
15773 Springbrook Ct Detached $649,900 3 2 1616 200
1639 Worthington St Detached $649,900 4 3 1920 16
8 Partridge Ln Detached $659,000 4 2.5 3583 5
1771 Campus Way Detached $668,000 3 3 3247 3
10 Buckingham Terr Detached $759,900 4 3 3763 19
14564 Kruse Oaks Blvd Detached $879,500 5 2.5 3001 5
4904 Lower Dr Detached $939,000 4 3 2803 3
4121 Childs Rd Detached $956,000 4 3.5 3396 76
1267 Maple St Detached $1,098,000 4 2.5 3388 56
16 Bernini Ct Detached $1,150,000 6 5 4786 53
4484 West Bay Rd Detached $1,250,000 5 2.5 4417 53
852 Northshore Rd Detached $1,898,000 4 5 4211 343
3015 Wembley Park Rd Detached $2,499,900 4 4.5 5211 249

Sold/Closed (May 4-10, 2020)

Address Type List Price Sold Price Sq Ft CDOM
668 McVey Ave #45 Condo $249,000 $225,000 852 208
5053 Foothills Dr D Condo $325,000 $305,000 1,252 124
1664 Bonniebrae Dr Condo $359,000 $359,000 1303 1
6313 Alyssa Terr Attached $389,000 $389,500 1546 1
5936 Dove Ct Detached $575,000 $564,850 1980 0
17835 Hillside Dr Detached $535,000 $575,000 2924 1
324 4th St Attached $625,000 $625,000 1731 3
1285 Oak Terr Detached $600,000 $635,000 1421 23
4036 Melissa Dr Detached $849,000 $855,000 3118 2
8 Dover Way Detached $1,299,000 $1,160,000 6093 130
17506 Hill Way Detached $1,125,000 $1,189,900 3163 300
1455 Timberline Dr Detached $1,200,000 $1,200,000 3554 1
1190 Fairway Rd Detached $2,599,000 $2,495,000 5855 90
16470 Phantom Bluff Ct Detached $2,699,900 $2,507,000 4975 303

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.