Dianne Gregoire, Author at Property Blotter

September 16, 2015

Market Activity Aug 31-Sept 13, 2015

This summer has been incredibly busy and last week was no exception. I am so grateful to Linda and Whitney for helping with this blog. Our village may be just the 3 of us, but it does take a village. With that in mind, this week’s market activity report is covering a 2 week period. In that time period there were 34 new listings, 40 pending sales, and 31 sold/closed homes.

Following is the breakdown for you according to RMLS for last week:

New on the Market (Aug 31-Sept 13, 2015)

Address	Type	Price	Bedrooms	Baths	Sq Ft
4000 Carman Dr #88	Condo	$149,000	2	2	836
86 Kingsgate Rd D105	Condo	$159,900	2	2	$924
48 Eagle Crest Dr 5E	Condo	$205,000	2	2	1443
210 State St #4	Condo	$219,900	2	1	1284
4343 Beasley Way	Detached	$250,000	2	2	1110
4434 Thunder Vista Ln	Attached	$254,900	2	2.5	1970
1638 Boca Ratan Dr	Attached	$269,500	3	1.5	1403
5835 Carman Dr	Detached	$273,900	2	2.5	1650
18690 Don Lee Way	Detached	$350,000	3	2	1136
668 McVey Ave #57	Condo	$350,000	3	1.5	985
18820 65th Ave	Detached	$399,900	3	2.5	2268
3674 Carman Dr	Attached	$449,000	3	2.5	1965
2301 Wembley Park Rd	Detached	$460,000	3	2.5	1864
4401 Oakridge Rd	Attached	$499,900	2	2.5	1702
17520 Redfern Ave	Detached	$549,900	3	2	1776
7 Falstaff St	Detached	$549,900	5	2.5	2740
1731 Woodland Terrace	Detached	$595,000	4	2.5	2714
13265 Fox Run	Detached	$625,000	4	2.5	2614
17927 Ridge Lake Dr	Detached	$649,000	4	2.5	2544
311 3rd St	Attached	$678,988	3	3.5	2123
2979 Rivendell Rd	Detached	$684,900	4	2.5	2537
SW Carman Dr	Detached	$699,900	3	2.5	2751
17337 Cedar Rd	Detached	$719,000	4	3.5	3080
20 Juarez St	Detached	$760,000	5	4	3464
5366 Amberwood Ct	Detached	$775,000	5	2.5	2878
13461 Streamside Dr	Detached	$796,000	4	2.5	3321
1061 Yates St	Detached	$839,900	3	3.5	2837
4855 Upper Dr	Detached	$849,000	4	3	2852
16633 Woodsman Ct	Detached	$949,900	4	4	4131
14261 Uplands Dr	Detached	$989,000	5	4	3843
1145 Timberline Dr	Detached	$1,065,000	4	2	4564
18036 Eastridge Ln	Detached	$1,150,000	4	3.5	4526
16686 Maple Circle	Detached	$1,195,000	4	3.5+.5	3311
13197 Thoma Rd	Detached	$1,495,000	3	3	3560

Pending Sales (Aug 31-Sept 13, 2015)

Address	Type	Price	Bedrooms	Baths	Sq Ft	DOM
47 Eagle Crest DR #20	Condo	$104,000	2	1	1009	87
100 Kerr Pkwy #36	Condo	$115,500	1	1	631	14
53 Galen Rd	Condo	$161,000	2	2	993	24
3433 McNary Pkwy #704	Condo	$169,000	2	2	1008	46
4 Touchstone #152	Condo	$168,900	3	2.5	1275	3
3433 McNary Pkwy #401	Condo	$179,900	2	2.5	1208	14
668 McVey Ave	Condo	$194,900	2	1.5	976	73
4851 Madrona St	Detached	$215,000	3	2	1434	92
16250 Pacific Hwy #42	Condo	$234,900	2	2	1350	17
3926 Carman Dr	Condo	$234,900	2	2.5	1129	66
200 Burnham Rd #408	Condo	$249,000	2	2	1305	21
27 Aquinas St	Detached	$342,000	3	2.5	1568	73
16735 Lake Forest Blvd	Detached	$349,900	3	2	1192	19
3190 Duncan Dr	Detached	$375,000	3	2.5	2401	223
4871 Centerwood St	Detached	$375,000	4	3	2619	194
885 McVey Ave	Detached	$379,000	3	1	1292	3
89 Kingsgate Rd	Detached	$399,990	3	2.5	1713	15
1559 Worthington St	Detached	$409,900	4	2	2016	83
26 Spinosa	Detached	$419,900	3	2.5	2065	55
4330 Orchard Way	Detached	$445,000	4	2.5	2099	6
15144 Boones Way	Detached	$449,950	4	3.5	2409	37
3180 Edgemont Rd	Detached	$475,000	3	2.5	1704	5
12635 Adrian Ct	Detached	$549,000	4	2.5	2662	516
18121 Pioneer Ct	Detached	$550,000	4	2.5	2310	5
1161 Upper Devon Ln	Detached	$560,000	4	2.5	2265	420
15590 Tanager Dr	Detached	$569,900	4	2.5	2532	31
15001 Twin Fir RD	Detached	$585,000	4	3	2664	172
18086 Jenifers Way	Detached	$699,000	3	2.5	2582	49
13836 Amberwood Circle	Detached	$699,500	3	2.5	4183	184
13010 Sierra Vista Dr	Detached	$719,900	5	3.5	3450	142
13060 Elk Rock Rd	Detached	$725,000	5	3	3681	155
5833 Stewart Glenn Ct	Detached	$815,000	4	2.5	3258	52
1361 Country Commons	Detached	$995,000	3	2.5	3118	28
151 Berwick Rd	Detached	$998,500	4	3	4387	50
595 D Ave	Detached	$1,050,000	3	3	3760	75
2464 Palisades Crest Dr	Detached	$1,095,000	4	2.5	3897	118
454 9th St	Detached	$1,125,000	3	4	3278	25
17327 Kelok Rd	Detached	$1,150,000	3	3	2300	145
1097 Chandler Rd	Detached	$2,075,000	4	4.5	5313	410
1653 Lake Front Rd	Detached	$3,900,000	5	5.5	6274	175

Sold/Closed (Aug 31-Sept 13, 2015)

Address	Type	List Price	Sold Price	Sq Ft	CDOM
203 Oswego Summit	Condo	$174,900	$175,900	1506	357
3652 Spring Ln	Condo	$175,000	$180,000	1117	3
48 Eagle Crest Dr 4E	Condo	$209,900	$204,000	1489	12
3812 Botticelli St	Condo	$239,000	$220,000	1,200	$47
196 Cervantes	Condo	$239,900	$240,000	1241	12
48 Eagle Crest Dr	Condo	$250,000	$245,000	1550	169
12844 Boones Ferry Rd	Condo	$315,000	$306,900	1334	19
16536 Inverurie Rd	Detached	$315,000	$315,000	1064	4
16173 Lake Forest Blvd	Detached	$315,000	$315,000	1334	77
434 5th St	Condo	$324,900	$323,200	1092	4
5467 Kenny St	Detached	$345,000	$329,000	960	0
15879 Kimball St	Detached	$349,900	$352,277	1076	11
210 S State ST #9	Condo	$366,000	$353,000	1516	12
27 Da Vinci St	Detached	$477,500	$472,250	2820	83
143 Kingsgate Rd	Detached	$475,000	$476,500	2,110	8
92 Tanglewood Dr	Detached	$529,950	$499,000	2600	23
855 G Ave	Detached	$599,000	$509,000	3165	5
41 Spinosa	Detached	$519,000	$535,000	2389	2
13010 Sierra Ct	Detached	$545,000	$555,000	3065	1
1270 Hida A Way Ct	Detached	$625,000	$625,000	2312	4
891 G Ave	Detached	$625,000	$635,000	2431	2
55 Northshore Rd #11	Condo	$749,000	$647,000	1910	93
139 Del Prado St	Detached	$699,000	$675,000	2895	77
4833 Hastings Dr	Detached	$665,000	$701,970	2831	1
5148 Woodcrest Ln	Detached	$699,900	$735,111	3110	3
13447 Streamside Ct	Detached	$899,000	$830,000	3609	48
796 1st ST	Detached	$885,000	$841,350	4108	355
426 7th St	Detached	$925,000	$976,600	3046	4
18245 River Edge Ct	Detached	$1,100,000	$995,000	4830	18
18825 River Edge Ct	Detached	$1,390,000	$1,329,000	6620	450
778 Cabana Ln	Detached	$1,849,000	$1,750,000	3343	145

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.

August 29, 2015

The Importance of 5%

One of the most important services that I give to my clients is advising them about price. For people whose homes I am selling that advice is my opinion of what their house is worth. For people that I am helping to buy a home, that advice is what to offer. Both of these situations have in common the importance of 5%.

When you are selling your home
The first step in selling your home is consulting with a Realtor. I do a lot of preparation when I go into these appointments. I spend time on line looking at the statistics of home sales in the neighborhood, and then I spend time driving around the area looking at the comparable properties. Every neighborhood has a range of values, depending upon the amount of remodeling that has been done. So when I sit down with homeowners, I am pretty informed about what I want to advise. I am looking to list the house within 5% of what I think it is worth. I know that within this percentage the house is likely to sell. Higher than 5% and I know it will take a bit of a miracle to get the house sold, will lead to a potentially extended marketing time, and will likely end up with a lower final sales price.

So if you are planning to sell your home, please listen to your Realtor and take their recommended price very seriously. Please don’t list for more than 5% over the recommended price.

And if you have made the mistake of over-pricing, and it is time to do a price reduction, the reduction needs to be at least 5% to have an impact on the market.

For buyers making offers
The same 5% holds true when you go to make an offer. If you offer within 5% you have a high likelihood of coming to an agreement. If you offer less, it can shut down negotiations by offending the home owner. There are exceptions to this. I have learned to write whatever my buyer wants me to write because I have had low offers accepted that surprised me. It really comes down to the sellers situation and their motivation. But from my experience low offers generally do not come together. If you really want the house, offer within 5% of the listed price.

Good luck with your house hunting! And remember Whitney, Linda and I are hear to help if you need some great real estate advice.
Dianne

August 27, 2015

Market Activity Aug 17-23, 2015

I have actually noticed a little chill in the air in the last couple of nights. We are still having gorgeous weather, but I am looking forward to the slight amount of rain forecast for the weekend. My yard will enjoy it and it will be a blessing for those fighting the forest fires in Eastern Oregon and Washington.

I would describe the current real estate market as healthy but not over heated. Last week Lake Oswego had 19 new listings, 15 pending sales, and 24 closed sales.

Following is the breakdown for you according to RMLS for last week:

New on the Market (Aug 17-23, 2015)

Address	Type	Price	Bedrooms	Baths	Sq Ft
668 McVey Ave #41	Condo	$149,900	1	1	485
3433 McNary Pdwy #401	Condo	$179,900	2	2.5	1208
16250 Pacific Hwy #42	Condo	$234,900	2	2	1350
4097 Jefferson Pkwy	Condo	$259,000	2	2.5	1359
200 Burnham Rd #210	Condo	$375,000	3	2	1966
19113 Terry Ave	Detached	$415,000	3	2	1454
937 Oak St	Detached	$445,000	3	3	3156
6 Independence	Detached	$644,000	3	2	2900
5533 Kenny St	Detached	$607,000	4	3	2900
4810 Lakeview Blvd	Detached	$839,000	4	4.5	3511
18970 Bryant Rd	Detached	$849,900	4	3	3154
18711 Westview Dr	Detached	$949,900	4	3.5	3591
822 6th St	Detached	$1,099,900	4	3	2748
806 6th St	Detached	$1,109,900	4	2.5	2730
5220 Firwood Rd	Detached	$1,125,000	3	2.5	2507
19354 Lorna Ln	Detached	$1,199,000	4	3.5	4169
13180 Thoma Rd	Detached	$1,250,000	5	4.5	5043
1300 Forest Meadows Way	Detached	$1,495,000	5	3.5	4082
1355 Country Commons	Detached	$1,995,000	4	3.5	4238

PENDING SALES (Aug 10-16, 2015)

Address	Type	Price	Bedrooms	Baths	Sq Ft	DOM
4 Touchstone #153	Condo	$145,000	2	2	1031	21
53 Galen Rd	Condo	$159,900	2	2	993	5
668 McVey Ave #44	Condo	$175,000	1	1	636	54
5225 Jean Rd #201	Condo	$224,900	3	2	1500	3
48 Eagle Crest Dr 3B	Condo	$246,900	2	2	1489	9
147 Kingsgate Rd	Detached	$349,900	2	2	1120	20
4141 Childs Rd	Detached	$360,000	3	2	1339	11
17347 Ashley Ct	Attached	$459,900	4	2.5	2117	13
6155 Frost Ln	Detached	$478,888	4	2.5	2364	118
5724 La Mesa Ct	Detached	$784,900	5	2.5	3669	21
18383 Old River Dr	Detached	$879,000	4	4.5	4548	60
17980 Kelok Rd	Detached	$899,900	4	2.5	2969	26
17320 Lake Haven Dr	Detached	$1,100,000	4	3	2703	212
18225 River Edge Ct	Detached	$1,390,000	5	4.5+.5+.5	6620	452
2793 Poplar Way	Detached	$1,699,000	5	5.5	6536	16

SOLD (Aug 10-16, 2015)

Address	Type	List Price	Sold Price	Sq Ft	CDOM
41 Oswego Summit	Condo	$95,000	$95,000	764	865
100 Kerr Pkwy #35	Condo	$109,900	$99,000	671	41
47 Eagle Crest Dr #27	Condo	$129,000	$126,000	947	36
100 Kerr Pkwy #27	Condo	$139,000	$137,000	820	8
4 Touchstone #146	Condo	$137,500	$141,000	979	48
4000 Carman Dr #25	Condo	$143,500	$152,000	836	4
5225 Jean Rd #203	Condo	$219,950	$219,950	1400	16
16538 Carnegie Ave	Detached	$220,000	$240,000	1182	479
5132 Timbergrove	Detached	$380,000	$320,000	1430	11
17225 Greentree Ave	Detached	$385,000	$385,000	2704	2
1528 Cedar St	Detached	$445,622	$440,000	2760	5
15601 Tanager	Detached	$435,000	$445,000	2046	13
17359 Ashley Ct	Detached	$475,000	$468,900	2370	32
148 5th St	Detached	$495,000	$480,000	1314	0
1097 Clara Ct	Detached	$599,900	$587,500	2,935	24
2878 Rivendell Rd	Detached	$637,500	$637,500	3202	1
13254 Twin Creek Ct	Detached	$749,900	$749,900	3470	21
18137 Delenka Ln	Detached	$789,000	$792,000	3555	0
150 5th St	Detached	$849,000	$814,000	2970	212
3072 Lakeview Blvd	Detached	$1,150,000	$985,000	4030	40
462 9th St	Detached	$1,339,000	$1,240,000	4357	26
18418 Old River Landing	Detached	$1,895,000	$1,505,250	6404	190
1836 Highlands Loop	Detached	$1,800,000	$1,805,000	5400	0

August 6, 2015

Street of Dreams Comes to LO!

Since 1985, August is the month for the Street of Dreams in the Portland metro area. This showcase of luxury homes can be found nation wide, but it actually originated in Portland in 1985 when the Home Builder’s Association of Metroplitan Portland decided to have this showcase to highlight and promote home builders and designers.

While I have not attended every Street of Dreams, if it’s in LO I am going to go. LO has hosted the Street of Dreams at least 3 times, that I am aware of.

There is a real WOW! factor to it. I like to look at homes that are beautiful and that are perfectly decorated. It’s a bit inspiring, but more than that I always take away ideas. It lets me see color trends, architectural trends, and even take away ideas that I use on a small scale in my own home.

What are this year’s trends? Here are some of my take aways:

Blue is the hot color right now. I saw it everywhere: even in the trim color on the exterior of a house. Seriously, that is a big color commitment. This same house had blue cabinets in the kitchen. Yes, it had BLUE cabinets.

Natural stone and granite remains a must-have element. And just as I observed after the street of dreams about 3 years ago, the stone colors are trending to black, gray, and white. There was little or no use of what are called “earth tones” such as brown or rust.

Exterior kitchens remain popular with built-in gas grills, fireplaces, and refrigerators.

The floorplans are mostly greatrooms with a huge bonus or second greatroom upstairs. The second greatroom generally has a huge sofa area for watching a mega-size TV, a wet bar or second full kitchen, and a game table area. Two of this years houses have balconies off of the upstairs greatroom that are huge and have views of the valley or Mt Hood: really nice!

Contemporary is back in demand. Over half of the homes are extremely contemporary.

Here are some things that surprised me:

There is a house with only a 2-car garage. OK, this actually shocks me. A person with the financial capability to buy in this price range ($1,500,000-$2,750,00) is a person who not only has 2 cars, but perhaps a 3rd car in addition to all of the toys that need storage like snowboards, jet skis, etc. I think the lack of a 3rd car bay is a HUGE mistake for resale.

Some of the houses have unbelievably small master closets. Again, a big “duh”, this is so basic when folks buy expensive, new homes. The master needs a gigormous closet!

The remodeled Shaw house was not well done. This classic mid-century modern is the original home for the area. It is architecturally wonderful and I give credit to the Home Builder’s Association for saving it and doing a full remodel. But the resulting floorplan is chopped up with too many small rooms. There is a lovely courtyard, but none of the major living area looks out onto it. I just came away feeling that somehow it could have been done better.

Not one of the houses was built with a lodge motif. I think this is a big gap. The look and feel of wood-beamed ceilings and the use of lots of natural stone inside remains in demand.

Last, I show a lot of property in Lake Oswego, including up in this price range. These houses are gorgeous, but they are not over the top. Many homes in Lake Oswego could hold their own in this group, quite easily.

I do want to encourage you to go. It’s the best way to see these gorgeous homes without having to get your real estate license.

Details:
August 1-30, 10am to 9pm
$17 admission, kids under 10 years are free
Park at a shuttle pickup spot (M-F at LO Jr High, 2500 Country Club Rd/Sat, Sun park at 4000 Kruse Way). The shuttles come regularly and there is very little wait time.
Saturday and Sunday you can also take the Trolley from 2nd and A in downtown LO.
Food and beverages are available for sale.

If you want to visit the Street of Dreams website, click here.

Have a good time!
Dianne

August 5, 2015

Market Activity July 27-Aug 2, 2015

Another busy week of real estate in LO. Last week we had 31 houses come onto the market, 22 go into “pending” status with accepted offers, and 25 sold/closed sales.

Following is the breakdown for you according to RMLS for last week:

New on Market (July 27-Aug 2, 2015)

Address	Type	Price	Bedrooms	Baths	Sq Ft
4 Touchstone #153	Condo	$145,000	2	2	1031
668 McVey Ave #4	Condo	$179,000	1	1	636
4045 Jefferson Pkwy	Condo	$230,000	2	2.5	1182
48 Eagle Crest Dr 4D	Condo	$245,000	2	2	1445
16200 Pacific Hwy #24	Condo	$285,000	2	2	1190
3497 Devnshire Dr	Attached	$329,900	3	2	1556
147 Kingsgate Rd	Detached	$349,900	2	2	1120
15879 Kimball St	Detached	$349,900	3	1.5	1076
4582 Trillium Woods	Attached	$459,900	3	2.5	1835
15144 Boones Way	Detached	$465,000	4	3.5	2409
143 Kingsgate Rd	Detached	$475,000	3	2	2110
6511 Frost St	Detached	$539,000	3	2.5	2430
1371 Koawood Dr	Detached	$659,000	6	3	3534
17126 Hofer Ct	Detached	$668,000	3	3	2541
13852 Shireva Dr	Detached	$699,000	5	3	3065
4369 Sundew Ct	Detached	$718,950	4	2.5	3325
4467 Thunder Vista Ln	Condo	$725,000	4	3.5+.5	4494
4090 Buck Brush Ln	Detached	$750,000	4	3	2878
4079 Coltsfoot Ln	Detached	$759,900	4	4	3308
3778 Rivers Edge Dr	Detached	$765,000	4	3.5	3022
5724 La Mesa Ct	Detached	$799,900	5	2.5	3669
5635 Bay Creek Dr	Detached	$799,900	5	2.5	3669
18009 Braeden Ct	Detached	$849,000	4	2.5	3286
5455 Langford Ln	Detached	$860,000	3	2.5	3341
426 7th St	Detached	$925,000	4	2.5	3046
4176 Upper Dr	Detached	$950,000	5	3	2968
4200 Upper Dr	Detached	$950,000	3	1	1371
725 5th Ave	Detached	$1,124,900	3	3	2748
17442 Ridgeview Ln	Detached	$1,375,000	4	3.5+.5	5036
1933 Highlands Lp	Detached	$2,750,000	4	3.5	5031
16715 Phantom Bluff Ct	Detached	$4,195,000	4	4.5	4585

Pending Sales (July 27-Aug 2, 2015)

Address	Type	Price	Bedrooms	Baths	Sq Ft	DOM
44 Eagle Crest Dr #10	Condo	$93,900	1	1	798	56
41 Oswego Summit	Condo	$105,000	1	1	764	865
103 Oswego Summit	Condo	$135,000	2	1.5	1116	283
4000 Carman Dr #25	Condo	$143,500	2	2	836	4
3433 McNary Pkwy #704	Condo	$169,000	2	2	1008	13
48 Eagle Crest Dr 4E	Condo	$209,900	2	2	1489	12
3892 Botticelli St	Condo	$235,000	3	2	1288	120
16536 Inverurie Rd	Detached	$315,000	3	1	1064	4
210 State St #9	Condo	$360,000	2	1.5	1516	12
39 Condolea Ct	Condo	$375,000	3	3	2198	39
258 Cervantes	Attached	$385,000	3	2.5	2312	13
5725 Windfield Loop	Detached	$409,900	2	2	1615	14
1528 Cedar St	Detached	$445,622	3	2	2760	5
37 Berwick Rd	Detached	$498,000	3	2	2198	65
41 Spinosa	Detached	$519,000	3	2.5	2389	2
4004 Melissa Dr	Detached	$625,000	4	2.5	2865	133
4896 Hastings Dr	Detached	$650,000	4	2.5	2785	30
1775 Palisades Terrace Dr	Detached	$661,000	4	2.5	2112	0
4833 Hastings Dr	Detached	$665,000	4	2.5	2831	1
159 5th ST	Detached	$849,000	4	3	2970	212
3119 Wembley Park Rd	Detached	$1,125,000	4	3.5	3633	7
500 Ridgeway Rd	Detached	$1,749,000	4	3.5	4554	424

Sold/Closed (July 27-Aug 2, 2015)

Address	Type	List Price	Sold Price	Sq Ft	CDOM
45 Eagle Crest DR #216	Condo	$112,900	$115,000	600	3
750 1st St #32	Condo	$165,000	$135,000	986	64
44 Eagle Crest Dr #29	Condo	$139,900	$140,500	798	5
4 Oswego Summit	Condo	$144,900	$150,000	1140	5
3814 Botticelli St	Attached	$189,900	$184,000	1055	21
200 Burnham Rd #103	Condo	$199,000	$203,000	873	2
750 1st St #14	Condo	$250,000	$237,150	1350	11
7 Saint Helens Circle	Detached	$335,000	$325,000	1275	3
1790 Conifer Dr	Detached	$325,000	$325,000	1003	33
236 Greenridge Dr	Attached	$344,900	$350,000	1492	2
1600 Ash St	Detached	$399,900	$405,000	2037	8
6145 McEwan Rd	Detached	$399,000	$405,000	1850	3
925 York Rd	Detached	$425,000	$425,000	2232	3
1931 Kilkenny Rd	Detached	$430,000	$435,000	2411	1
16889 Wight Ln	Detached	$469,000	$438,500	2,579	86
2550 Greentree Rd	Detached	$499,000	$478,000	2852	53
1458 Greentree Circle	Detached	$757,000	$545,000	2156	22
5020 Hampton Ct	Detached	$559,500	$552,000	2253	257
16873 Cherry Crest Dr	Detached	$550,000	$575,000	2394	4
15930 Twin Fir Rd	Detached	$669,000	$705,000	2620	770
930 Cumberland Rd	Detached	$715,000	$715,000	2960	3
3 Mountain View Ln	Detached	$750,000	$715,000	3672	127
4055 Orchard Dr	Detached	$795,000	$750,000	3354	44
251 D Ave	Detached	$849,000	$842,200	2635	8
1947 Summit Dr	Detached	$1,595,000	$1,450,000	5570	104

July 20, 2015

The Swim Parks

Lake Oswego has two swim parks. Who can use them can be a bit confusing. There is a common misconception that you must live within the Lake Oswego School District to be eligible. While that is partially true, it is not the case.

The Lake Oswego Swim Park

This swim park is located at 250 Ridgeway Rd on the West end of the Lake. To use this park you must be a resident of Lake Oswego. Use of the park is free. Hours of operation at 1-6 pm daily, weather permitting. The park features life guards on duty during all operating hours, diving platforms, water sprayers, inner tubes, outdoor showers, and lounge chairs. Children under the age of 10 must be accompanied by someone who is at least 16 years of age. So this park is widely available to any one who is a resident of Lake Oswego.

The Lake Grove Swim Park

This swim park is located at 3800 Lakeview Blvd on the East end of the lake. This swim park was originally deeded to the former Lake Grove School District by the Oregon Iron and Steel Company. The Lake Grove School District merged with the Lake Oswego School District in 1953. While the districts merged, the use of this swim park remains with people who live within the former Lake Grove School District’s boundary. (For a link to the website that has a copy of this map, click here) People who live within this district pay an additional property tax to maintain and operate this park. To use the park you simply must provide photo ID with proof of your address and a park pass will be issued. You then show your pass when you use the park.

This park has life guards on duty during all operating hours (12-8pm daily, weather permiting). There is also ping pong, volleyball, tether ball, and basketball. There is a concrete wading pool for children 7 and younger. Additionally, swim lessons are offered for all children in Lake Oswego, even those who are not eligible for a park pass.

With the hot summer days we’ve been enjoying, now is the time to get out to the swim parks and take advantage of the recreational opportunities that come from living in Lake Oswego.

Enjoy!
Dianne

July 18, 2015

Market Activity July 6-12, 2015

Robust is the adjective that comes to mind when I think about what is happening with Lake Oswego real estate. Seriously, our market is hot. Houses are selling fast and buyers are in a frenzy. Last week in Lake Oswego there were 29 new listings, 33 houses that accepted offers to go into pending status, and 26 closed sales.

Following is the breakdown for you according to RMLS for last week:

New on Market (July 6-12, 2015)

Address	Type	Price	Bedrooms	Baths	Sq Ft
3926 Carman Dr	Condo	$234,900	2	2.5	1129
200 Burnham Rd #305	Condo	$269,900	2	2	1328
668 McVey Ave #42	Condo	$285,000	2	1	836
4458 Thunder Vista Ln	Condo	$289,000	2	2.5	2200
12844 Boones Ferry Rd	Condo	$315,000	2	2.5	1152
5882 Kennycroft Way	Detached	$315.00	3	2	1272
4725 Lakeview Blvd	Detached	$349,900	3	2	1589
5132 Timbergrove St	Detached	$380,000	3	2	1420
93 Kingsgate Rd	Detached	$389,900	3	2.5	1669
3508 Red Cedar Way	Detached	$429,900	4	2	1425
5749 Windfield Loop	Detached	$499,900	3	3	1873
31 Walking Woods Dr	Detached	$500,000	4	3	2889
16064 Waluga Dr	Detached	$575,000	7	3	2366
432 Livingood Ln	Detached	$575,000	4	3	2527
7140 Childs Rd	Detached	$649,800	3	3	2600
1495 Woodland Terrace	Detached	$715,000	4	2.5	3960
15960 Parker Rd	Detached	$720,000	3	2.5	2566
17766 Marylcreek Dr	Detached	$769,000	4	3.5	4439
5343 Greystoke Dr	Detached	$816,000	4	3	3097
4867 Upper Dr	Detached	$849,000	4	3	2852
1600 Oak St	Detached	$950,000	4	3.5	4385
18245 River Edge Ct	Detached	$1,100,000	3	3	4830
575 B Ave	Detached	$1,125,000	5	3.5	3534
400 D Ave	Detached	$1,239,000	5	3.5	4000
12822 Alto Park Rd	Detached	$1,299,000	4	4.5	3426
462 9th St	Detached	$1,395,000	5	3.5	4357
548 Ridgeway Rd	Detached	$1,690,000	4	3	2830
1952 Highlands Loop	Detached	$1,789,000	4	3.5	4100
4140 Canal Rd	Detached	$4,495,000	8	8.5	11956

Pending Sales (July 6-12, 2015)

Address	Type	Price	Bedrooms	Baths	Sq Ft	DOM
100 Kerr Pkwy #42	Condo	$100,000	2	1.5	822	28
47 Eagle Crest Dr #24	Condo	$109,000	1	1	672	56
47 Eagle Crest Dr #29	Condo	$139,900	1	1	798	5
170 Oswego Summit	Condo	$145,000	2	2	1506	91
100 Kerr Pkwy #1	Condo	$149,900	2	2	1188	94
53 Church St	Condo	$153,500	1	1	588	3
668 McVey Ave #85	Condo	$199,900	2	1.5	976	14
109 3rd ST	Condo	$249,000	2	2	1016	20
12826 Boones Ferry Rd	Attached	$304,500	2	2.5	1136	6
1033 Hallinan St	Detached	$309,900	3	1	1128	159
27 Aquinas	Detached	$380,000	3	2.5	1568	10
14328 Holly Springs Rd	Detached	$439,900	4	2.5	1939	24
230 3rd St	Detached	$450,000	2	1	1316	4
16889 Wight Ln	Detached	$459,000	4	2.5	2579	86
17359 Ashley Ct	Detached	$475,000	4	2.5	2370	32
1293 Hide A Way Ln	Detached	$489,000	3	2.5	1720	4
5020 Hampton Ct	Detached	$559,500	3	2.5	2253	257
4220 Albert Circle	Detached	$565,000	3	3	2406	49
18910 Terry Ave	Detached	$579,900	4	3.5	4290	159
1097 C Ave	Detached	$599,000	3	2	1650	21
855 G Ave	Detached	$599,000	3	1.5	3165	5
12448 Orchard Hill Rd	Detached	$599,900	4	3	3336	178
4896 Hastings Dr	Detached	$650,000	4	2.5	2785	7
729 Southview Rd	Detached	$695,000	3	2	2657	141
17024 Canal Circle	Detached	$720,000	3	1	1267	39
13254 Twin Creek Ct	Detached	$749,900	4	2.5	3470	21
14009 Chelsea Dr	Detached	$765,000	4	2.5	3060	5
18137 Delenka Ln	Detached	$789,000	4	2.5	3555	0
17340 Oak Meadow Ln	Detached	$929,000	3	3.5	3718	35
983 Lake Front Rd	Detached	$1,595,000	3	2.5	2199	76
16511 maple Circle	Detached	$1,670,000	3	2.5	3342	93
1000 Atwater Rd	Detached	$2,095,000	4	4.5+.5	6391	120
1345 Chandler Rd	Detached	$2,695,000	5	4.5	6800	98

Sold/Closed (J6-12, 2015)

Address	Type	List Price	Sold Price	Sq Ft	CDOM
272 Cervantes	Condo	$159,000	$163,000	1209	6
208 Oswego Summit	Condo	$169,900	$169,900	1383	4
4334 Botticelli St	Condo	$225,000	$217,750	2298	43
16250 Pacific Hwy #56	Condo	$247,500	$229,900	1305	439
25 Oriole Ln	Detached	$299,900	$293,000	1460	18
1023 Oriole Ln	Detached	$299,900	$293,000	1460	18
1023 Hallinan St	Detached	$329,900	$320,000	1097	58
1 Peacock Pl	Detached	$348,500	$360,000	1248	13
4965 Suntree Ln	Detached	$399,900	$425,000	1572	5
304 6th St	Detached	$450,000	$435,000	941	21
5431 Willow Ct	Attached	$475,000	$460,000	2465	8
18581 Waxwing Way	Detached	$479,000	$464,000	2076	24
101 3rd St	Condo	$485,000	$485,000	1447	3
1426 Orchard Way	Detached	$549,000	$553,000	2700	4
1681 Woodland Terrace	Detached	$585,000	$585,000	2304	26
17348 Hunter Ct	Detached	$609,000	$609,900	2991	4
17336 Hunter Ct	Detached	$609,900	$609,900	3023	28
2084 Ridgewood Rd	Detached	$799,000	$650,000	2117	109
1770 Headlee Ln	Detached	$750,000	$680,000	2434	112
2737 Tolkien	Detached	$699,000	$722,337	4397	3
5728 Bay Creek Dr	Detached	$799,000	$799,000	3504	5
22 Hotspur St	Detached	$829,000	$835,000	4002	7
1854 Oak Knoll Ct	Detached	$1,995,000	$925,000	3530	237
610 9th St	Detached	$1,200,000	$1,160,000	3690	5
3301 Upper Dr	Detached	$1,400,000	$1,160,000	3690	5
16645 Graef Circle	Detached	$1,540,000	$1,450,000	3075	56

June 26, 2015

Changes With Appraisals

Something is going on with appraisals these days and it is significant enough to impact the purchase or sale of a home if the sale involves a mortgage. There are two specific changes with one leading to the other.

Appraisals are taking longer

For pretty much my entire real estate career the time for an appraisal to be ordered and completed has typically been about 10 days. When things got busy, it may take a day or two longer. When things slowed down, it might come in more quickly. This quick turn around allowed buyers the luxury of completing all of their home inspections and having the certainty that the house is something that they wanted to buy, before they had to pay for an appraisal. No more.

I am experiencing appraisals that are taking a minimum of two weeks and I currently have an FHA loan being processed in which the appraisal took a full month.

What is causing this? It certainly has to do with the fact that we are in the peak of the selling season with an above average amount of loans being processed. But I think there is another factor. Just as qualifying for a loan has become more difficult, the appraisal process has tightened up. Appraisers have to factually prove the value based upon collateral. They can not fudge the numbers with things like “an upwardly trending market”. So where there may have been 14 offers and a bidding war to gain a sale, that does not mean that the house will appraise out. This is not about emotion. This is about factually proving the value.

Plan to pay for and order the appraisal within days of acceptance of your offer

This means that to have a closing within 45 days of acceptance, a typical time expectation, you need to pay for the appraisal right away. Buyers just do not have the luxury of waiting until after the home inspection. I suppose you could simply ask for a 60 day close to allow time to inspect before buying the appraisal. Good luck with that in this seller’s market. I am seeing sellers agents commonly write that the appraisal must be ordered right away as a part of the contract negotiation at the time of the offer.

So just a heads up. This change is having a pretty big impact on closing transactions. Plan ahead, get the appraisal ordered early, and close on time. This will make everyone happy.

Dianne

June 25, 2015

Market Activity June 15-21, 2015

Inventory seems to have picked up this past week with 26 new listings, however, sales continue to outpace the inventory with 36 houses going into pending status. We had 17 closed/sold sales.

See below of further explanation of the RMLS data.

New on the Market (June 15-21, 2015)

Address	Type	Price	BR	Bths	SF
47 Eagle Crest Dr #27	Condo	$129,000	2	1	947
3964 Carman Dr	Condo	$229,800	2	2.5	1129
109 3rd St	Condo	$249,000	2	2	1016
12828 Boones Ferry Rd	Attached	$320,000	2	2.5	1136
7 Saint Helens Circle	Detached	$335,000	2	2	1275
39 Condolea Ct	Condo	$375,000	3	3	2198
14328 Holly Springs Rd	Detached	$439,000	4	2.5	1939
15948 Quarry Rd	Detached	$464,000	2	1	920
5895 Burma Rd	Detached	$474,900	4	2.5	1781
674 Lexington Ct	Detached	$574,000	3	2.5	2477
213 Hidalgo St	Detached	$575,000	4	3.5	3964
2302 Overlook Dr	Detached	$579,000	4	2.5	3125
1097 C Ave	Detached	$599,000	3	2	1650
13254 Twin Creek Ct	Detached	$749,900	4	2.5	3470
16717 Sylvan Ct	Detached	$749,999	4	3.5	4949
19133 Megan Pl	Detached	$774,500	4	3.5	3724
14205 Edenberry Dr	Detached	$792,500	3	2.5	3051
18383 Old River Dr	Detached	$895,000	4	4.5	4548
4948 Hampton Ct	Detached	$939,000	3	3.5	3434
17622 Lake Haven Dr	Detached	$1,089,000	2	2	1400
18347 Lothlorien Way	Detached	$1,098,000	5	3.5+.5	4141
3820 Southshore Blvd	Detached	$1,295,000	5	4	4855
16847 Greenbrier Rd	Detached	$1,895,000	3	2.5	2304
2025 Cedar Ct	Detached	$2,200,000	3	4	4062
674 Livingood Ln	Detached	$548,900	4	2.5	2714
5413 Langford Ln	Detached	$759,995	3	2.5	2879

Pending Sales (June 15-21, 2015)

Address	Type	Price	BR	Baths	SF	DOM
16 Crestfield Ct	Condo	$95,500	1	1	550	36
10 Condolea Dr	Attached	$240,000	2	2	1312	33
668 McVey Ave #24	Condo	$249,900	1	1	626	70
750 1st St #14	Condo	$250,000	2	2	1350	11
4851 Madrona St	Detached	$299,900	3	2	1434	14
1033 Hallinan St	Detached	$309,900	3	2	1128	134
234 Greenridge	Attached	$329,900	3	2	1492	2
236 Greenridge	Attached	$344,900	3	2	1492	2
5861 Benfield Ct	Detached	$379,000	4	2	1557	36
6145 McEwan Rd	Detached	$399,000	2	2.5	1850	3
1600 Ash St	Detached	$399,900	3	2	2037	8
4965 Suntree Ln	Detached	$399,900	3	2.5	1572	5
11 Churchill Downs	Detached	$430,500	4	2.5	2336	81
7 Hidalgo St	Detached	$439,900	3	2.5	2408	57
14594 Wilmot Way	Detached	$448,000	3	2.5	1710	10
4793 Auburn Ln	Attached	$450,000	3	2.5	2083	20
643 2nd St	Attached	$450,000	2	2	1457	2
16889 Wight Ln	Detached	$459,000	4	2.5	2579	65
1500 Woodland Terrace	Detached	$486,000	3	2.5	2645	42
2550 Greentree Rd	Detached	$499,000	4	3	2852	53
4124 Orchard Way	Detached	$549,000	4	2.5	2700	4
16873 Cherry Crest Dr	Detached	$550,000	4	3	2394	4
2250 Park Rd	Detached	$559,900	3	2	2072	98
5045 Greensborough Ct	Detached	$569,900	4	2.5	2107	9
4311 Orchard Way	Detached	$585,000	4	2.5	2804	20
1511 Woodland Terrace	Detached	$599,900	5	2.5	3439	78
820 Lake Forest Dr	Detached	$599,950	4	2.5	2676	29
16750 Phantom Bluff Ct	Detached	$614,500	3	3	2267	7
18420 Deer Oak Ave	Detached	$629,900	4	3	2476	1
930 Cumberland Rd	Detached	$715,000	4	2.5	2960	3
321 5th St	Detached	$719,000	3	3.5	2737	158
251 D Ave	Detached	$849,000	4	2.5+.5	2635	8
2024 Palisades Terrace Dr	Detached	$975,000	4	3.5	4819	6
19320 Lorna Ln	Detached	$1,100,000	4	3.5	4192	208
1578 View Lake Ct	Detached	$1,499,000	4	4.5	4476	35
16645 Graef Circle	Detached	$1,549,000	4	4.5	3075	56

Sold/Closed (June 15-21, 2015)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
15 Oswego Summit	Condo	$131,000	$100,619	1212	373
19 Crestfield Ct	Condo	$157,900	$154,000	923	19
17780 Hill Way	Detached	$275,000	$275,000	960	4
18651 Don Lee Way	Detached	$399,000	$399,000	1,630	21
14145 Redwood Ct	Detached	$539,000	$508,000	2452	64
4725 Firwood Rd	Detached	$569,900	$575,000	2557	6
4263 Sunset Dr	Detached	$625,000	$615,000	3250	27
2464 Marylhaven Pl	Detached	$610,000	$630,000	2898	4
8 Cellini Ct	Detached	$705,000	$671,920	3494	19
5626 Grand Oaks Dr	Detached	$749,000	$741,000	3387	21
5955 Sunbrook Dr	Detached	$759,000	$759,000	3110	5
18120 Delenka Ln	Detached	$759,900	$759,900	3157	14
17583 Shepherds Ct	Detached	$774,900	$770,000	2997	47
18430 Pilkington Rd	Detached	$795,000	$795,000	2946	18
2764 Rivendell Rd	Detached	$819,000	$812,000	3220	0
17620 Blue Heron Rd	Detached	$1,198,000	$1,150,000	4041	67
2322 Knaus Rd	Detached	$1,595,000	$1,539,000	4875	19

June 8, 2015

Open Houses

It has been a hectic 5 days (2 new listings, both sold within days, whew!) so I apologize for the lateness of this posting. I had intended to do this last week.

Believe it or not, open houses are actually fairly controversial among Realtors. Years ago I worked in an office where one of the agents had a large sign he used at listing appointments. It had the words “Open House” with one of those big red “O’s” with a line through it. In other words, he let people know right up front he would not be doing any open houses. That is one side of the argument, that they don’t work. I am on the other side, I think that they do work.

For some real estate agents I think they feel it is a waste of time. It is true that the Internet is way more affective to generate interest in a house. The other thing that’s affective is correct pricing. And as someone who has spent many, many hours in open houses, it can feel like a waste of time. But I do them anyway.

Why? Because they work. Not every time. In fact, not most of the time. But they are a tool. Why not use every tool available? In 28 years of selling houses, I have held open houses for every listing I have ever had if it stayed on the market for more than a week. This means I do open houses nearly every weekend and sometimes 2 in one day. But you know what? I sell a house off of my open house efforts every now and again. I am writing this post because I sold a listing off of an open house about a week ago.

Now a word of caution. When an open house is held, the listing agent has no control over who attends. This means that the public is coming through the house. As a home owner, you need to put away any tempting items that could be pilfered: jewelry, little clocks and collectables, money, watches, and prescription medications. As a Realtor, you need to not allow anyone to use the bathrooms and you’ve got to keep an eye on the people who come through by going through the house with them and watching them.

In a nutshell, I don’t think open houses are a waste of time. Because I do them, I have seen them work. If I didn’t do them, well that would doom them to failure from the get go.

So here’s wishing you some happy house hunting on a nice, sunny afternoon like today.
Dianne