Author: Dianne Gregoire

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Helping Locally During Covid 19

Did you ever have any idea that we would experience a pandemic? I just didn’t conceptualize this circumstance at all. We are certainly learning a lot about personal strength, patience, and perseverance. And all of us are facing this time with different abilities to cope. Some are better off financially than others. Here in LO there are several ways that you can help, if you are in a position to do so.

The city of Lake Oswego has created a temporary utility assistance program. Starting with a $20,000 fund contributed by the city, individuals are also being encouraged to donate. Donations are voluntary and tax deductible. To apply for assistance, or to donate, you can go to www.lakeoswego.city/novel-coronavirus-covid-19/temporary-utility-assistance.

To help feed local families the city has partnered with Hunger Fighters to collect gift card donations. Folks are encouraged to buy gift cards from their favorite restaurants and then to drop them off at city hall (380 A Ave, drop the cards into the utility payment box in the South entrance vestibule). The gift cards will then be distributed to local families in need by Hunger Fighters. This is such a win-win. It helps local restaurants that are struggling to pay employees and to stay in business, and it helps those who are needing food.

Meals on Wheels has become more important than ever. This program is seeking donations for both their home delivery program and their lunch-to-go program. For information and to make a donation go to www.lakeoswegomealsonwheels.org or telephone 503-635-3758.

Together we will get through this. Thank you for any help you are able to give the community. Thank you for reading the blotter.
Dianne

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Market Activity April 20-26, 2020

I think that the market activity is about half of what is normal for this time of year. Pending sales appear to be holding fairly steady with about 10 properties accepting offers each of the last several weeks. Check out the days on the market for the pending properties. Of the 10 pending sales 8 sold in 25 days or less. Along with the 8 pending sales, last week Lake Oswego saw 6 properties come on the market and 8 sold/closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (April 20-26, 2020)

Address Type Price BR Baths Sq Ft
8 Cervantes Circle Condo $209,900 2 1.5 912
5364 Langford Ln Detached $869,000 4 2.5 3022
205 5th St Detached $895,000 4 3 2556
13275 Riverside Dr Detached $1,099,000 4 2-Jan 2756
16850 Cortez Ct Detached $1,299,900 4 4 3550
749 7th St Detached $1,385,000 4 3.5 4651

Pending Sales (April 20-26, 2020)

Address Type Price BR Baths Sq Ft CDOM
4268 Woodside Circle Attached $340,000 4 2 1944 351
5237 Dawn St Detached $494,800 3 1.5 1412 25
77 Kingsgate Rd Detached $529,900 3 2.5 1739 3
17835 Hillside Dr Detached $535,000 5 3 2924 1
17200 Robb PL Detached $610,000 3 2.5 2206 0
4188 Cobb Way Detached $649,900 4 3 2586 4
92 Garibaldi St Detached $769,000 4 3.5 3172 37
10 Othello St Detached $825,000 5 3 3600 25
5623 Bay Creek Dr Detached $845,000 5 2.5 3042 20
4500 West Rd Detached $899,000 3 2.5 2479 17

Sold/Closed (April 20-26, 2020)

Address Type List Price Sold Price Sq Ft CDOM
48 Cervantes Circle Condo $299,000 $260,000 1368 162
5054 Foothills Dr E Condo $355,000 $345,000 1,252 38
19415 Sycamore Ave Detached $450,000 $450,000 1584 12
16106 Lake Forest Blvd Detached $649,900 $505,000 3440 575
47 Da Vinci St Detached $599,000 $652,507 2467 6
18263 Anduin Terr Detached $749,000 $685,000 3103 133
3781 Tempest Dr Detached $899,900 $875,000 3927 21
13483 Fielding Rd Detached $949,999 $890,000 3149 62

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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Run, Ride, Walk Around the Lake

This is a re-post of one I did many years ago. It will give you the directions for exercising with a trip around the lake. Please be sure to observe social distancing. We are getting some beautiful weather and getting outside to enjoy it is a real treat.

Absolutely one of the best features of living in Lake Oswego is the ability to enjoy the lake. And one of my favorite ways to enjoy it is by riding a bike, or taking a walk or a jog around it. The first time I ran the lake was in 1980. I have done it many, many times since then. Although I have to admit that these days instead of running it, I bike or walk it. It’s just about 8 miles all the way around. Biking it, the challenge is to do it in one hour’s time. I know that does not seem very fast, but there are two substantial hills in the ride and if you can do it in an hour, you are kicking some serious #*%*. Walking it takes about 2.5 hours, and running it, back in my hey day, took just over an hour.

The route around the lake is not an obvious course. You need to have someone who has done it before show it to you. I suppose you could just journey out and figure it out, but there are a couple of spots where taking the right turn will not only make the route more enjoyable, but it will also make it more safe.

I am going to outline the basic route. **UPDATED: MAP AT BOTTOM OF THIS ARTICLE**

I will try to keep the directions easy to follow. I do the route in a clockwise circle. You can reverse it if you like, but I do it clockwise because with this route you warm up properly for the hills and then also cool down before you finish.

Start at the Lake Grove Swim Park, which is just North of the intersection of Southshore Blvd and Lakeview Blvd, along Lakeview Blvd. Proceed North on Lakeview. I suppose it is actually slightly Northeast, but for the sake of keeping it simple, head North along the shoulder of the road. There is a nice wide bike path and you’ll be enjoying the view of the lake and the stately mansions. You will go about half a mile before you come to the first right hand turn.

This is Summit. Yes, it’s called Summit because it’s a big hill. Summit will take you on a slightly winding route up to the top and then back down again. These are some of the best views of the lake because you are up so high and you really get to see the width and breadth of the water.

After you come down the hill, Summit will dead-end at Iron Mountain Blvd. Turn right which will have you heading East. This is a long, flat stretch of road through a heavily treed area with views of the Lilly Pond. Most of the length of this section does not have houses on it. As you come back into the housing area, in fact almost immediately as soon as the driving speed goes from 40 MPH to 25MPH, you want to watch for a sharp right turn just on the edge of the lower parking lot for Lake Oswego Country Club. This little street is called Milligan Lane. It is only a couple of hundred of feet long, and I don’t think it is well marked. So be watching and don’t miss it. If you miss it, you’ll add about a mile and a good deal of time lost in the surrounding neighborhoods trying to get back on course.

Milligan Lane will take you over a set of train tracks and drop you right on to Northshore Road. Turn left so that you are continuing to head East. This is just a spectacular stretch of scenery. You will be right down at the level of the lake meandering by fabulous homes and across quaint bridges with views of the lake and of Lakewood Bay. The road takes a couple of twists and turns, just follow the signs that identify Northshore. One of the homes you will pass, it will be on your right just before the humongous rock formation, is the house that was briefly occupied by Humphrey Bogart and his 3rd wife, Mayo Methot, or so local legend has it.

After you cross the bridge with the view to the left of Lakewood Bay you will come to a 3-way stop, turn left. Go about a block and take the first right. This is is Fairmont. You are only going to go about 100 feet before you turn left onto Middlecrest. Middlecrest is not a through street. It has a barrier erected to keep out auto traffic, but there is a pass through for bikes and pedestrians. Stay on Middlecrest a couple of blocks to the traffic light at State Street.

Turn right on State Street and go a long block to the bottom of the hill where there is another traffic light at McVey Avenue. Turn right and head up McVey. This is the big hill in this route. Pace yourself because when you think you’ve gotten to the top, you have not. You could stay on it up to the traffic light at Southshore, but I have found another route that I like that is more scenic and just more interesting.

Before you get to the traffic light at McVey there is a right hand turn at Oak. Take this right and follow the route as it levels out and gives you a bit of a breather before the climb starts again. You’ll cross a little bridge in an area that feels like a grotto. It is cool and moist and very refreshing on a hot day. Just after the little bridge you’ll turn right onto Palisades Terrace. This is another beautiful neighborhood where the houses will completely distract you from your saddle sores or your tired feet. You are now about 5 miles into the route with just a couple more to go. The uphill climb starts again while you are on Palisades Terrace. You’ll know you’re there, believe me. Palisades Terrace dead ends at Southshore Blvd.

Turn right at Southshore so that you are heading West. You’ll continue to climb for about half a mile. At the top, not only is there a bench where you can sit and look out at the lake, but there is also a drinking fountain. Yahoo! Continue down Southshore as you descend the hill and begin to cross the canals. Southshore will end at Lakeview Blvd, where when you turn right you will find yourself back at the beginning where you started.

Once upon a time this was a pretty treacherous route because you shared the road with cars. Today, pretty much the whole way is either on quiet neighborhood streets or has nice bike paths to separate you from the cars.

What I like about it is that it has a variety of terrain. There are a couple of hills to challenge, but not beat you up too badly, and there are so many great views of homes and the lake.

I do have a slight modification I do for the bike ride at the bottom of McVey that will put you onto a more gentle climb up the hill. For the sake of wearing out my welcome in your brain today, I am not including it here. But if you’d like to know it, drop me an e-mail and I”d be happy to share. (diannegregoire@oregonfirst.com) Or perhaps it will become a future posting.

If you do try my route around the lake I’d love to hear from you. I also apologize if somehow my directions are confusing or get you lost. As always, I think in this public venue I should remind you to observe the rules of the road, wear a helmet, and stay safe. I think you’ll find that it is an amazing way to get some exercise and to take advantage of this great town. Enjoy!


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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