Author: Dianne Gregoire

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Loving Lake Oswego

There’s something about the waning days of summer. It makes me feel like I want to slow down and make it last. Maybe a bit reflective, but in a way that is joyful and appreciative. With that state of mind, I thought I’d share with you my personal list of why I love living in Lake Oswego.

Great schools, it’s why I moved here. Looking back, now that my kids are 30 and 33 years old, it was exactly the right thing to do. They both developed a circle of friends that encourage fun but also had really solid personal good character. Their Dad and I encouraged this at home, but the community has a spirit that helps kids have good influences in their lives, and I think I begins with the good schools.

Safety. I feel really safe living here. If I arrive home after dark, I just feel fine getting out of my car and carrying groceries into the house. I didn’t feel that way in the neighborhood where I used to live.

The flower baskets. They are stunning. Driving around and about in months between Memorial Day and Labor Day is such a pleasure with the amazing flower baskets, landscaped medians and flower beds.

The lake. It’s beautiful and I see it regularly as I show property and go on my daily walks. You don’t have to live on the lake to use it. Many homes have easements, but everyone in the city limits has access to the swim park.

Great restaurants. This didn’t used to be the case about 20 years ago, but man, it is sure the case today. Where to begin? Riccardos, Gubancs, La Provence, Jefe, St Honore, Tillamook Ice Creamery, Nicolettas, Manzanna, Five Spice, there are lots of great choices!

Always a Starbucks nearby. I’ve got 4 within walking distance of my house.

Great walking. I used to run, but these days I’m a walker. Short walks are amazing through the beautiful neighborhoods. One of my regular walks is about 3 miles long and right smack dab in the middle is a panoramic view of the lake. One of my long walks, I’ve done it so many times, is around the lake. From my house it’s a nine mile loop. What I like about it, besides the great views, is that it has so much variety of hills and flat stretches. It’s never boring.

Festival of the Arts in June and the Gallery Without Walls. I love art!

The Lakewood Theater. I love theater!

The community. I moved from SE Portland. I never felt the neighborliness that I feel in LO. I think that’s because it still pretty much a small town. We may be in a huge metro area, but we are our own unique community. I’ve found it to be very welcoming and friendly.

My list is getting long!

I’m going to end with a shout out to the Parks and Rec department (great, fun stuff to do), the LO Library (I use it a lot), and finally, the Willamette River (where I enjoy summer concerts at Foothills Park, put my kayak in at George Roger’s Park, and take more beautiful walks).

That’s my list. I may have moved here for the schools 20 years ago, but I feel like it is a gift that I gave to myself. I love living in Lake Oswego.

As always, thanks for reading.
Dianne

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Market Activity Aug 12-18, 2019

What a beautiful summer we are having! School starts in just one week. Time to slow down and really enjoy the fresh, sunny air and the long summer evenings. The best!

The market in Lake Oswego continues to be really balanced with nearly equal numbers of houses coming onto the market as houses that go pending. Last week we had 18 new listings, 19 pending sales, and 21 closed/sold properties.

Following is the breakdown for you according to RMLS:

New on the Market (Aug 12-18, 2019)

Address Type Price BR Baths Sq Ft
25 Oswego Summit condo $180,000 1 1 721
86 Kingsgate Rd H201 condo $219,000 2 2 840
318 Cervantes condo $239,900 3 2 1209
5225 Jean Rd #403 condo $279,000 2 2 1200
13 Erasmus St condo $319,900 2 2.5 1434
22 condolea Dr condo $385,000 2 2 1448
44 Touchstone Detached $425,000 4 3 2507
14401 Sherbrook Pl Attached $455,000 3 2.5 1823
21 Mountain Circle Attached $469,000 3 2 1820
1448 Cedar St Detached $649,000 4 3 2544
358 Lake Bay Ct Detached $735,000 3 2 1460
870 Lake Forest Dr Detached $747,900 3 2.5 1980
5998 Frost Ln Detached $749,000 4 2.5 2935
19319 Dogwood Ct Detached $825,000 4 2.5 3119
5 Scarborough Dr Detached $849,000 4 2.5 3221
3 Dover Way Detached $999,000 5 3.5+.5 4988
2311 Palisades Crest Dr Detached $1,279,000 4 2.5 4903
13131 Knaus Rd Detached $1,697,000 6 3.5+.5 5353

Pending Sales (Aug 12-18, 2019)

Address Type Price BR Baths Sq Ft CDOM
44 Eagle Crest Dr #23 Condo $175,000 1 1 798 38
4 Touchstone #91 Condo $209,900 2 2 993 77
4 Touchstone #140 Condo $229,000 3 2.5 1351 11
93 Oswego Summit Condo $239,000 2 2 1212 20
668 McVey Ave #55 Condo $294,900 1 1 636 186
5292 Firwood Rd Detached $499,000 3 1 1170 10
18391 Wood Thrush St Detached $499,900 3 2 1450 13
15275 Boones Way Attached $529,000 2 2 1320 17
1816 Palisades Lake Ct Detached $685,000 3 2.5 4598 161
1570 Bonniebrae Dr Detached $699,000 5 3 3200 106
14211 Dolph Ct Detached $699,000 3 2 1980 25
676 9th St Detached $799,900 2 1 1982 13
171 5th St Detached $849,000 4 2 2367 87
928 Lake Front Rd Detached $895,000 3 3 2468 6
5051 Lakeview Blvd Detached $1,079,900 4 3.5 3506 84
17990 Ridge Lake Dr Detached $1,299,000 5 3.5 3745 96
17410 Viewpoint Ln Detached $1,299,000 4 4 4810 9
13366 Briarwood Ln Detached $1,325,000 5 3 3310 56
13322 Briarwood Ln Detached $1,650,000 4 4 3921 55

Sold/Closed (Aug 12-18, 2019)

Address Type List Price Sold Price Sq Ft CDOM
45 Eagle Crest Dr #516 Condo $190,000 $197,000 600 36
172 Oswego Summit Condo $254,900 $227,000 1,383 146
750 1st St D22 Condo $269,000 $260,000 1350 28
5225 Jean Rd #404 Condo $365,000 $365,000 1500 3
6024 Fernbrook Circle Detached $475,000 $444,000 1616 50
908 Bickner St Detached $525,000 $460,000 2263 26
2001 Greentree Rd Detached $475,000 $472,500 2288 0
1760 Oak St Detached $519,000 $495,000 1680 9
6059 Seville Ave Detached $500,000 $500,000 2000 0
225 Hidalgo St Detached $574,900 $565,000 2251 7
14333 Sherbrook Pl Detached $588,000 $580,000 1475 8
14664 Rainbow Dr Detached $635,000 $635,000 3122 21
25 El Greco St Detached $685,000 $661,000 3731 26
4920 Mulholland Attached $699,888 $665,000 2498 79
327 Laurel St Detached $749,900 $670,000 2520 105
515 5th St Detached $799,000 $725,000 2295 434
5332 Lower Dr Detached $775,000 $750,000 2632 78
752 Lake Forest Dr Detached $795,000 $800,000 2319 0
17760 Overlook Circle Detached $779,000 $800,000 2357 5
29 Hillshire Dr Detached $1,150,000 $999,000 4690 144

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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2019 Street of Dreams

Last week I enjoyed Realtor day at the Street of Dreams. This years show is in Wilsonville, a really nice location that easily supports these home values. I always like to look for trends. Last year my big take away was textured walls and tile. This year several things stood out for me as well.

*Sliding barn-style doors are still really popular. One house has a set of two that come together to form the corner of the room. Very cool

*Chrome and nickel finishes were nowhere to be seen. It was all either matted black or brushed brass

*Lots of wall paper that looked like it was straight out of my parents house from the 1970s.

*Amazing light fixtures! Some from repurposed items like bottles and pulleys, but also really cool geometric shapes

*One house had old-fashioned painted brick. What’s old is new again.

*Sinks continue to be very inspiring with several homes that had one huge sink that served two faucets.

Hands down my favorite house was “Farm to Table” built by Renaissance Homes. The kitchen had a secondary kitchen designed to serve the back patio (this in addition to the kitchen on the back patio), a pantry, an amazing utility room with an island and massive amounts of storage, and, topping it off, a she-shed in the back yard! This house is just the sort of layout that a family that loves to cook and to entertain dreams of.

The show runs through August. Prices range from about 1.2 to 1.9 million.

Enjoy!
Dianne

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Market Activity July 29-Aug 4, 2019

We had a great week in real estate last week in Lake Oswego. 18 new listings came onto the market, 22 properties went into pending status and there were 26 closed/sold houses.

Following is the breakdown for you according to RMLS:

New on the Market (July 29-Aug 4, 2019)

Address Type Price BR Baths Sq Ft
4 Touchstone #140 Condo $229,000 3 2.5 1351
3822 Botticlelli St Condo $289,900 3 2 1171
18391 Wood Thrush St Detached $499,900 3 2 1450
14498 Camden Ln Detached $599,000 4 2.5 1918
14677 Doris Ave Detached $625,000 5 3 2848
45 Becket St Detached $650,000 3 2.5 2653
30 Westridge Dr Detached $659,900 4 3 3290
14201 Dolph Ct Detached $699,000 3 2 1916
17321 Canyon Dr Detached $699,500 5 3.5 4825
1286 Larch St Detached $724,900 4 2.5 2410
71 Nansen Summit Detached $749,000 4 2.5 3523
676 9th St Detached $799,900 2 1 1982
5005 Dogwood Dr Detached $987,000 5 3.5 4143
18803 Riven Dell Ct Detached $1,100,000 4 4.5 4538
1623 Maple St Detached $1,475,000 5 3.5 4797
2123 Glenmorrie Ln Detached $1,598,000 4 3.5 4331
16 Bernini Ct Detached $1,725,000 6 5 4786
1592 View Lake Ct Detached $2,195,000 3 3 3114

Pending Sales (July 29-Aug 4, 2019)

Address Type Price BR Baths Sq Ft CDOM
100 Kerr Pkwy #42 Condo $189,900 2 1.5 822 106
44 Eagle Crest Dr #41 Condo $194,950 2 1 908 3
3828 Botticelli St Condo $279,000 3 2 1273 21
750 1st St A7 Condo $296,000 2 2 1350 3
5225 Jean Rd #404 Condo $365,000 3 2 1500 3
18365 SW 65th Ave Detached $389,000 3 1 1032 9
12 Condolea Dr Condo $425,000 2 2 1312 16
6024 Fernbrook Circle Detached $465,000 3 2 1616 50
150 Kingsgate Rd Detached $485,000 3 2 1502 20
17653 Schalit Way Detached $450,000 3 2 1463 19
1760 Oak St Detached $519,000 5 2 1680 9
1 Cellini Ct Detached $550,000 3 2.5 2200 3
69 Condolea Ter Condo $569,900 2 2.5 2157 13
6419 Dawn St Detached $584,900 4 2.5 2016 382
18225 65th Ave Detached $599,000 5 2.5 2210
1621 Woodland Ter Detached $599,000 4 2.5 2933 34
4989 Mulholland Dr Attached $624,500 2 2.5 2403 7
515 5th St Detached $739,000 2 1.5 2295 434
5536 Kilchurn Ave Detached $749,900 5 2.5 2550 11
15147 Brook Ct Detached $815,000 4 2.5 3221 4
3197 Alber Spring Ct Detached $1,449,000 4 4.5 4852 146
748 1st St Detached $1,799,900 5 4 3854 183

Sold/Closed (July 29-Aug 4, 2019)

Address Type List Price Sold Price Sq Ft CDOM
4000 Carman Dr D53 Condo $169,023 $130,000 836 43
245 Cervantes Condo $279,999 $274,900 1,292 28
750 1st St #26 Condo $297,000 $295,000 1350 11
5225 Jean Rd #603 Condo $300,000 $305,000 1400 122
5060 Foothills Dr E Condo $349,000 $344,000 1252 6
17781 Overlook Circle Detached $599,900 $545,000 2741 4
2440 Greentree Rd Detached $549,900 $550,000 1881 4
1029 Laurel St Detached $575,000 $551,500 3188 8
17468 Fir Rd Detached $550,000 $569,000 1820 5
15790 Murwood Ct Detached $639,000 $599,000 2075 72
1640 Maple St Detached $625,000 $625,000 2091 6
1790 Westview Dr Detached $689,900 $689,900 3387 17
4120 Orchard Way Detached $739,000 $720,000 3123 22
1515 Cherry Ln Detached $1,350,000 $800,000 4699 1063
32 Wilbur St Townhouse $839,000 $839,000 2671 63
3232 Wembley Park Rd Detached $850,000 $847,000 2841 32
17590 Blue Heron Rd Detached $879,900 $867,900 2160 5
13707 Fielding Rd Detached $1,500,000 $878,500 3337 865
5476 Southwood Dr Detached $950,000 $935,000 3858 11
13915 Sundeleaf Dr Detached $1,085,000 $975,000 4090 152
2008 Ridgewood Rd Detached $1,170,000 $1,120,000 4268 9
1385 Morning Sky Ct Detached $1,240,000 $1,130,000 3690 119
18977 Pilkington Rd Detached $1,289,000 $1,295,500 3590 284
1128 Englewood Dr Detached $1,999,888 $1,770,000 8981 195
1411 Lake Front Rd Detached $2,098,000 $1,900,000 3349 39
940 Hoodview Ln Detached $2,248,000 $2,248,000 4638 107

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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Is Your House Taking Too Long to Sell?

This week, while doing the market activity report, I noticed 3 pending sales that had extended market times. Average market time is currently 79 days in Lake Oswego. So when I see pending sales that were 308 days, 354 days, and 1063 days, I know that the folks selling those homes must have felt a bit frustrated. It got me to thinking about what sort of advice I would give to someone in that position.

There are 3 things that you have control over when you list your home for sale: price, condition, and terms. That’s it. These are the things that you have control over.

Price and condition are easy to understand. Your home is not worth what you hope to make from it. It is worth what the market is showing to be true. This value is arrived at by looking at sales in your neighborhood that are as close in style, age and condition as possible to your house. There will be a range of value that usually has a swing of about $50,000. The condition of your home decides where you fit in that range. If your home is recently remodeled from top to bottom, it is at the high end of that range. If you still have 1970’s gold, shag carpet, you’re at the low end. You do not want to over price. Buyers are smart! They can see what zillow and trulia say about the value with just a touch of an ap on their phone. More importantly, they are touring other properties and getting a sense of the value so that they intuitively recognize what is over priced and what is a great value. They want to buy the house that is the great value. Over pricing by even a little bit will shoot you in the foot. The house will take longer to sell, and in all likelihood, will realize a lower sales price than would have occurred if the house had been priced correctly in the first place.

I have seen folks who had a house that wasn’t selling, that then took the house off the market, did some remodeling, and put it back on the market to realize a quick and successful sale the with the second shot at the market. Statistically, you don’t get 100% out of the dollars spent on remodeling, so if you go this route, it’s a risk to expect to be able to raise the price on the second marketing attempt to cover the cost of the remodeling. You can likely raise it a little bit, but be careful.

The last concept is terms. Terms are things like a tenant in the house who is uncooperative, or making showings difficult to arrange. It can also be things like expecting to be able to stay in the house after it is sold by renting it back. These things can discourage buyers. They are most easily corrected by either removing the issue or reducing the price.

I have developed a professional theory that 20 is the magic number. When buying a house you need to see about 20 houses before you are ready to make a decision about buying. When selling a house you need about 20 showings to generate an offer. If you are only getting one showing a week, you can estimate that you’ll be on the market for 5 months, which is too long. You need to rethink the price, the condition and the terms. If you have your house on the market and you get 20 showings the first weekend (this does not include showings at an open house), then you know you are going to get a quick offer. You might even get more than one offer and have the price raised by competing buyers.

Finally, I want to talk about location. Location is king. It always has been and it always will be. You have no control over the location of your home once you own it. So if you bought a house on a busy street, you probably bought it for less than a comparable home tucking onto a quiet street in the same neighborhood. It was a good deal so you decided the issue could be acceptable. When you go to sell that house, you need to make the price reflect the location. This makes the buying decision super important! Think about this when you choose a house and then be realistic when selling it.

A good Realtor will help guide you through this process. Your home is probably the biggest investment in your life. The services of a good Realtor will help you to maximize the return on your investment.

As always, thanks for reading.
Dianne

P.S. I looked up the house that took 1063 days to get under contract. It was on a busy street, required 24 hours notice to show, and on the Lake Oswego Landmark Designation List. It also had a converted garage, so no garage. It is a stunning home with lots of nice remodeling that respected the architectural integrity. It was first listed in July of 2016 for $1,350,000. Nine months later, in April of 2017, it had its first price reduction to $1,295,000. Three months later, in July of 2017. the price was dropped to $1,250,000. September of 2017 it was reduced again to $1,098,000. April of 2018 it was dropped to $995,000. January of this year it was dropped to $949,000. It went pending on July 15th. This is a dramatic example of price and terms being incorrectly calculated from the get go.

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Market Activity July 15-21, 2019

Based upon the market activity in Lake Oswego last week, I consider the current real estate market to be extremely balanced: favoring both buyers and sellers. The numbers are very even with 22 new listings, 23 pending sales, and 21 closed sales. In other words, houses are coming onto the market at the same rate that they are selling. That’s about as balanced as it can get.

Special congratulations to the folks selling 1515 Cherry Lane. I don’t know the specifics, but after 1063 days on the market it is now in escrow. Good news!

Following is the breakdown for you according to RMLS:

New on the Market (July 15-21, 2019)

Address Type Price BR Baths Sq Ft
47 Eagle Crest Dr #56 Condo $205,000 3 1 1024
4000 Carman Dr B23 Condo $265,000 2 2 866
16524 Roosevelt Ave Detached $424,900 3 1 1131
12 Condolea Dr Condo $425,000 2 2 1312
6315 Dawn St Detached $499,900 4 2 1934
69 Condolea Terrace Condo $569,900 2 2.5 2157
16950 Lakeridge Dr Detached $659,000 4 2.5 2346
4097 Buck Brush Ln Detached $700,000 3 2.5 2533
14211 Dolph Ct Detached $725,000 3 2 1980
5536 Kilchurn Ave Detached $749,900 5 2.5 2550
2927 Tolkien Ln Detached $798,000 4 2.5 2819
615 Lake Bay Ct Detached $999,999 3 3 2555
1590 Country Club Rd Detached $1,099,000 4 3.5 3578
15488 Village Dr Detached $1,180,000 4 4 4143
17979 Kelok Rd Detached $1,239,000 2 2.5 2487
5014 Upper Dr Detached $1,275,000 4 3 3416
4840 Lamont Way Detached $1,475,000 5 3.5 3277
16895 Chapin Way Detached $1,575,000 4 3.5+.5 5182
19575 35th Ct Detached $2,225,000 5 3 6081
17675 Cardinal Dr Detached $2,475,000 4 3 3458
1188 Cherry Circle Detached $2,695,000 5 6.5 8772
4321 Southshore Blvd Detached $4,195,000 5 4.5 6731

Pending Sales (July 15-21, 2019)

Address Type Price BR Baths Sq Ft CDOM
4000 Carman Dr D53 Condo $169,023 1 1 836 43
66 Cervantes Circle Condo $199,900 2 1.5 912 207
172 Oswego Summit Condo $229,900 2 2 1383 146
5225 Jean Rd #514 Condo $271,500 2 2 1100 2
750 1st St #26 Condo $297,000 2 2 1350 11
17903 Belmore Ave Detached $359,900 5 2 2016 78
6024 Fernbrook Circle Detached $465,000 3 2 1616 34
44 Northview Ct Attached $496,800 2 3 2350 2
17653 Schalit Way Detached $500,000 3 2 1463 7
4960 Centerwood St Detached $540,000 3 2 1663 1
86 Greenridge Ct Attached $589,999 4 3.5 2718 98
21 Grouse Terrace Detached $600,000 4 2.5 3108 37
18052 Hobbit Ct Detached $651,700 4 3.5 3289 91
319 3rd St Attached $679,000 3 3.5 1937 1
327 Laurel St Detached $695,000 4 2 2520 105
752 Lake Forest Dr Detached $795,000 4 2 2319 0
12511 Shelby Ct Detached $849,000 5 3.5 3641 30
2151 Crest Dr Detached $899,950 4 2.5 4690 39
1414 Cherry Ln Detached $949,000 6 3.5 4699 1063
19114 35th Pl Detached $1,070,000 4 4.5 5447 308
16586 Phantom Bluff Ct Detached $1,075,000 3 2.5 2571 167
125 Middlecrest Rd Detached $1,429,000 4 3.5 3242 8
17763 Kelok Rd Detached $1,495,000 4 4 3840 354

Sold/Closed (July 15-21, 2019)

Address Type List Price Sold Price Sq Ft CDOM
10 Cervantes Circle 7B Condo $219,900 $209,900 912 33
200 Burnham Rd 3404 Condo $284,900 $270,000 1,325 50
233 Cervantes Condo $275,000 $275,000 1216 189
47 Oriole Ln Detached $482,500 $475,000 1882 18
1308 Cornell St Detached $495,000 $492,000 1750 8
27 Partridge Ln Detached $549,000 $540,000 2493 28
5955 Washington Ct Detached $575,000 $590,000 2554 45
13488 Snowberry Ct Detached $729,000 $680,262 3073 38
4 Hillshire Dr Detached $778,000 $759,500 3232 32
2272 Park Rd Detached $779,900 $780,000 2325 2
4224 Albert Circle Detached $808,000 $808,000 2588 4
8 Othello St Detached $799,900 $814,800 3690 1
5745 Bay Creek Dr Detached $819,900 $815,000 3353 18
128 Northshore Rd Detached $897,500 $838,000 2695 97
18409 Old River Dr Detached $969,000 $885,000 3681 77
909 Cumberland Pl Detached $995,000 $897,000 3267 72
2886 Upper Dr Detached $924,995 $900,000 2674 143
2464 Palisades Crest Dr Detached $1,100,000 $1,040,000 4012 47
17900 Sarah Hill Ln Detached $1,295,000 $1,185,095 4186 27
18135 Crestline Dr Detached $1,495,000 $1,425,000 2673 64
1074 Bayberry Rd Detached $1,625,000 $1,600,000 3429 237

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 July 1-7, 2019

When we have a major holiday it tends to affect the real estate activity for that week. With the 4th of July last Thursday there were just 14 new listings and 11 closed sales, but the buyers were still out in strong numbers. 23 houses went pending. Our market is going strong!

Following is the breakdown for you according to RMLS:

New on the Market (July 1-7, 2019)

Address Type Price BR Baths Sq Ft
47 Eagle Crest Dr #8 Condo $199,500 2 1 932
219 Cervantes Condo $239,900 2 2 1100
1470 Boca Ratan Dr Townhouse $415,000 4 2 1867
16494 Inverurie Rd Detached $479,000 3 1 1302
14333 Sherbrook Pl Detached $588,000 3 2 1475
20 Northview Ct Attached $624,900 3 3.5 2809
3781 Tempest Dr Detached $630,000 3 2.5 3927
3903 Tempest Dr Detached $640,000 3 2.5 2410
41 Tanglewood Dr Detached $659,900 4 3 3001
1941 Green Acres Ln Detached $744,900 4 2.5 2459
26 Wilbur St Condo $780,000 3 2.5 2802
19333 Riverwood Ln Detached $925,000 4 3 3110
4277 Upper Dr Detached $1,595,000 4 3 4000
4233 Upper Dr Detached $1,595,000 4 3 4000

Pending Sales (July 1-7, 2019)

Address Type Price BR Baths Sq Ft CDOM
3896 Boticelli St Condo $275,000 2 1.5 1132 4
5602 Kenny St Detached $399,000 3 2 1202 29
45 Condolea Ct Condo $425,000 2 2.5 2157 9
5751 Washington Ct Detached $442,900 5 2 2120 48
15360 Twin Fir Rd Detached $460,000 3 1 1020 9
138 Kingsgate Rd Detached $475,000 3 2.5 1680 8
1117 Hemlock St Detached $499,900 3 2 1680 91
1450 Hemlock St Detached $499,500 3 2 2368 3
1659 Oak St Detached $549,000 3 2.5 1885 5
2440 Greentree Rd Detached $549,900 3 1.5 1881 4
8 Sibelius Ct Detached $595,000 4 2.5 2445 4
15790 Murwood Ct Detached $599,000 3 2.5 2075 72
17475 Westview Dr Detached $609,000 3 2.5 2602 27
1041 C Ave Detached $630,000 3 2 1580 7
1058 Hemlock St Detached $649,900 4 3 2077 75
4920 Mulholland Dr Attached $659,900 3 2.5 2498 79
17790 Westview Dr Detached $689,900 4 3 3387 17
5950 Harrington Ave Detached $749,900 4 3.5 2816 48
16176 Matthew Ct Detached $839,900 4 2.5 3474 27
917 Laurel St Detached $849,950 4 3.5 3182 141
3232 Wembley Park Rd Detached $850,000 4 3.5 2841 32
17878 Hillside Dr Detached $899,900 5 3 3594 40
1385 Morning Sky Ct Detached $1,149,000 3 2 3690 119

Sold/Closed (July 1-7, 2019)

Address Type List Price Sold Price Sq Ft CDOM
3982 Carman Dr Condo $349,900 $339,900 1360 42
4 Goya St Detached $427,250 $427,250 3,012 2
45 Greenridge Ct Townhouse $465,000 $456,570 1652 6
6330 Shakespeare St Detached $520,000 $509,000 1792 50
1588 Cherry Ln Detached $749,996 $548,000 2001 207
19040 Olson Ave Detached $600,000 $550,000 2642 24
1305 Hallinan Detached $599,000 $599,000 2510 2
17433 Schalit Way Detached $664,000 $655,500 2350 6
114 3rd St Detached $885,000 $755,002 1140 11
18183 Westminster Dr Detached $800,000 $765,000 3191 26
3137 Douglas Circle Detached $1,750,000 $1,705,000 4378 20

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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5959 Suncreek Dr

Well, that was fast. My new listing on Suncreek Dr has gone pending. A family has been renting in the neighborhood and just waiting for the right house to come along. They saw this one and jumped on it. One of their requests was that this weekend’s open houses be canceled. For this reason, there will not be an open house at 5959 Suncreek Dr this weekend.

Thank you!

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Featured Property: 5959 Suncreek Dr

What a beautiful house! I am super excited to introduce you to 5959 Suncreek Dr in the Westlake neighborhood of Lake Oswego. Here are the stats:

$829,000
3315 square feet
4 bedrooms + den, 2.5 baths
Built in 1988 and totally remodeled
Kitchen, baths, furnace and central air all new in 2016
Since 2016 paint inside and out, electric panel, insulation, garage door openers, hot water heater

Built by Olsen Homes, this house is turn-key and features a master on the main level.

Located on a quiet cul-de-sac, the house is adjacent to Southwood Park and enjoys views of the greenspace.

If you are not familiar with Westlake, this is a highly desirable neighborhood because of its convenience to I-5 and 217. It also features a huge park where summer concerts are held.

I’ll be holding this house open this Saturday and Sunday (July 13th and 14th) from noon to 3:00 each day. Come on by!

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Time to Talk FIRPTA

FIRPTA has been around for along time, but today, it’s become something that Realtors are making an effort to make sure that their clients are fully informed about. FIRPTA is the Foreign Investment in Real Property Tax Act. It is a way for the IRS to collect capital gains from non U.S. citizens who are selling real estate, but don’t live in the United States.

It is particularly important to buyers because if not handled correctly, it has huge financial consequences.

FIRPTA requires that a non resident foreign person pay 10% (for sales of $300,000 to $1,000,000) or 15% (for sales over $1,000,000) of the sales price of the property to the IRS at closing. This will force the non resident foreign person to file a tax return to get back any money that was over collected.

It’s pretty logical. I’d say that there’s a high likelihood that if this was not done, that taxes owing as capital gain would never be collected because the person and the money would be outside of the United States.

So, this may seem pretty mundane, but here is the kicker. If the money is not collected and paid to the IRS, then it becomes a liability to the person who bought the house. Yes, people who seem perfectly innocent can then be hit with an IRS bill in the thousands of dollars. Not so mundane any more, right?

When handled correctly, buyers and sellers will see a disclosure about this issue right up front. Then an affidavit is signed by the home seller to state whether they are a non resident foreign person or not. This affidavit is held by the title company involved to be safe guarded for 6 years on behalf of the buyer of the home. It is a way to protect buyers by showing that every effort was made to comply with FIRPTA. When this is done, the buyer is not liable to the IRS.

This is one reason it’s a good idea to use a Realtor. We take classes and stay informed about issues that are important in the home buying process. We are here to make your experience smooth and successful in every way possible.

As always, thanks for reading the blotter.
Dianne