Author: Dianne Gregoire

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Market Activity May 25-31, 2015

We are definitely in the full throws of the spring market. It is hectic! Last week in Lake Oswego there were 21 new listings, 19 houses that went pending, and 22 closed sales.

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

New on the Market (May 25-31, 2015)

Address Type Price BR Bths SF
3812 Botticellil St Condo $239,000 3 2 1200
17780 Hill Way Detached $275,000 2 1 960
36 Wheatherstone Condo $300,000 3 2.5 1692
15112 Quarry Rd Detached $364,900 3 2 1968
820 Boca Ratan Dr Detached $399,000 4 3 2220
4793 Auburn Ln Attached $450,000 3 2.5 2083
5431 Willow Ct Attached $475,000 3 2.5 2465
15941 Inverurie Rd Detached $495,000 4 2 2611
37 Berwick Rd Detached $510,000 3 2 2198
4311 Orchard Way Detached $615,000 4 2.5 2804
760 Timberline Dr Detached $624,500 4 3 3058
5335 Carman Grove Ln Detached $695,000 3 2.5 2316
17024 Canal Circle Detached $785,000 3 1 1267
2221 Overlook Dr Detached $799,000 3 2.5 3628
5590 Koderra Ave Detached $828,800 4 2.5 3289
3788 Southshore Blvd Detached $900,000 3 3 3224
769 2nd St Detached $1,150,000 5 2.5 3308
610 9th St Detached $1,200,000 4 3.5 3690
3914 Edens Edge Dr Detached $1,745,000 5 5.5+.5 6891
129 Furnace St Condo $1,995,000 4 4.5 5772
3142 Lakeview Blvd Detached $4,350,000 4 5 5554

Pending Sales (May 25-31, 2015)

Address Type Price BR Baths SF DOM
4 Crestfield Ct #4 Condo $145,000 2 1 923 14
19 Crestfield Ct Condo $157,000 2 1 923 19
226 Ridgeway Rd Condo $170,000 1 1 756 5
5276 W Sunset Dr Detached $319,000 2 1 840 23
5340 Chinook Ct Detached $374,500 3 2 1801 5
1637 Devon Ln Detached $399,900 4 2.5 2494 7
15921 Kimball St Detached $499,900 3 2 2309 3
147 Del Prado St Detached $519,000 3 3 2790 31
17101 Chapin Way Detached $519,000 3 2 1949 74
17820 Westview Dr Detached $524,900 3 2.5 2407 25
4736 Amherst Ct Attached $575,000 3 2.5 2812 4
1982 Park Forest Ave Detached $585,000 4 3 2765 24
14309 Meadow Grass St Detached $599,999 4 2.5 2620 1
2737 Tolkien Ln Detached $699,000 4 3.5 4397 3
5864 Stewart Glenn Ct Detached $790,000 4 2.5 3224 4
18430 Pilkington Rd Detached $795,000 4 3 2946 18
851 9th St Detached $999,900 4 2.5 2699 6
15451 Village Dr Detached $1,075,000 3 3.5 4154 12
3140 Douglas Circle Detached $1,395,000 4 3.5 4333 54

Sold/Closed (May 25-31, 2015)

Address Type List Price Closed Price Sq Ft CDOM
44 Cervantes Cir #44 Condo $132,500 $125,000 912 21
16250 Pacific Hwy #67 Condo $149,900 $140,000 841 45
191 Oswego Summit Condo $150,000 $100,000 1506 304
16200 Pacific Hwy #21 Condo $269,000 $259,000 1,190 113
15434 Stephanie Ct Attached $315,000 $320,000 1566 2
7 Condolea Dr Condo $380,000 $380,000 2388 23
44 Northview Ct Attached $385,000 $385,000 2340 7
4972 Galen St Attached $430,000 $421,000 1942 175
5189 Tualata Ln Detached $475,000 $440,000 2422 150
683 5th St Detached $450,000 $450,000 2100 0
556 6th St Detached $450,000 $450,000 1560 0
1297 Hide a Way Ln Detached $525,000 $522,000 1832 6
18728 Bryant Rd Detached $544,995 $524,995 2736 45
3170 Royce Way Detached $539,900 $535,000 3193 6
5326 Childs Rd Detached $549,901 $538,000 1801 57
17650 Westview Dr Detached $579,900 $555,000 2849 101
3009 Wembley Park Rd Detached $598,500 $570,000 1704 122
4201 Haven St Detached $649,900 $625,000 2678 33
77 Garibaldi St Detached $829,000 $817,000 3023 49
496 8th St Detached $879,000 $850,000 2899 35
1901 Summit Dr Detached $899,000 $899,000 3444 7
720 Kenola Ct Detached $1,200,000 $985,000 3727 53

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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Attitude is Everything!

I have been spending the last several weeks getting my 84-year-old Mother ready for a move to a new home. In all of the sorting and cleaning, I came upon a printout of an early propertyblotter post that my Mom had saved. It is one of my very favorite posts. Feeling sentimental, I thought I would share it with you again. Enjoy.

Please remember this was written in January of 2009, early in the Great Recession.

You may have noticed that both Linda and I tend to approach our careers in real estate with a pretty positive attitude. We share a world-view that allows for positive outcomes. I don’t know about Linda, but I do know that I have received criticism for maintaining this perspective while so much that is going on in the world, particularly in the current economy, is just so terrible. Because we are beginning a New Year, and I intend for 2009 to be a great year, I thought this would be a good time to share with you where I learned my positive attitude.

For those of you who know me, you also know that my mom was a Realtor before me. She was my mentor and role model not just in life, but also as a Realtor. And she is the one who taught me to have a positive attitude. She taught it by example. Her story is really quite remarkable.

My mom, Audrey Slater, was 24 years old the summer of 1954. She lived here in Lake Oswego and was the mother of a young child. She was one of 8 people who were residents of Lake Oswego who contracted polio that summer. For such a small town, it was considered to be an epidemic. 3 of those 8 people died. My mom was one of the lucky ones. She wasn’t killed by it. But she was paralyzed from the chest down. At that time there was no vaccine to prevent polio and there was no proven treatment. Fortunately she was well cared for. The nurses and doctors wrapped her in hot, wet, wool blankets and regularly moved her to help prevent muscle atrophy. When she recovered her future was uncertain. She was told she could quite possibly never walk again. She absolutely refused to accept that possibility. She spent the next several years of her life regaining her strength and learning to walk all over again. She went from her bed to a wheel chair and then to crutches and finally to walking on her own. She went on to be the mother of 3 additional children, including me. I clearly remember her overcoming many challenges that being a polio survivor brought, and foremost in my mind I remember her on-going insistence on maintaining a positive attitude.

This was the era of Norman Vincent Peale. The author of “The Power of Positive Thinking”, he spread a message of hope and good living through books, letters, and his work with people.

My mom took it to heart. She used it to overcome so much. Today, after raising a family and being a very successful Realtor here in Lake Oswego for 28 years, she is such a fine example of a life well lived and a life that has been lived to its fullest, despite tremendous challenge.

Are these times hard? Sure they are. Do they amount to the sum of our human existence? Absolutely not. This is a moment in time: a moment in history. And, frankly, there is much to be hopeful and optimistic about. It is our challenge to choose how we approach the day. Are we going to make it a good day? Or are we going to surrender to negativity and allow it to become a bad day? Will we allow news reports to keep us from moving on with our lives? Will we allow fear to keep us from noticing all the good things about this point in time relating to real estate…like record-low interest rates and prices? I would argue that a positive mindset allows for more rational decision making when coupled with an assessment of the variables.

This does not mean that I am unwilling to be realistic about facts and the current economy. It does mean that I will approach the current market and find a way to make it work to my clients’ benefit, whenever possible. It also means that even when the situation is tough, I will pledge to handle it with grace and good humor.

Finally, I have a video I want to encourage you to watch. Think of it as a little New Year’s gift. This is a video of a man who has overcome adversity so far above and beyond anything that most can imagine. To view it, click here.

I would like to wish you a positive and prosperous New Year.

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Market Activity May 4-10, 2015

Another great week in real estate has come to pass. Last week Lake Oswego had 20 new listings, 29 pending sales, and 11 closed sales.

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

New on the Market (May 4-10, 2015)

Address Type Price BR Bths SF
47 Eagle Crest DR #43 Condo $124,900 2 1 932
19 Crestfield Ct Condo $157,900 2 1 923
5849 Fernbrook Circle Detached $275,000 3 1.5 1239
16173 Lake Forest Blvd Detached $335,000 3 1 1334
208 Greenridge Dr Attached $337,500 3 2 1392
5276 W Sunset Dr Detached $349,000 2 1 840
44 Northview Ct Attached $385,000 2 3 2340
17902 Meadowlark Ln Detached $519,900 3 2.5 1950
17820 Westview Dr Detached $524,900 3 2.5 2407
1500 Woodland Terr Detached $559,000 4 2.5 2798
1982 Park Forest Ave Detached $585,000 4 3 2765
17336 Hunter Ct Detached $609,900 3 2.5 3023
18295 Westview Dr Detached $624,950 4 3 3580
55 Northshore Rd #11 Condo $749,000 2 1.5 1910
14053 Pilkington Rd Detached $795,000 4 3 2946
18493 Ray Ridge Dr Detached $1,125,000 4 3.5+.5+.5 4401
4350 Lords Ln Detached $1,199,000 5 4 3888
2464 Palisades Crest Dr Detached $1,199,000 4 2.5 3897
583 2nd St Condo $1,250,000 2 2.5 2304
14053 Amberwood Circle Detached $782,500 3 3 3126

Pending Sales (May 4-10, 2015)

Address Type Price BR Baths SF DOM
104 Oswego Summit Condo $99,000 1 1 764 4
44 Eagle Crest Dr #26 Condo $136,500 2 1 908 0
4000 Carmen Dr G101 Condo $149,900 2 2 869 12
3892 Botticelli St Condo $225,000 3 2 1288 32
1316 Cedar St Detached $230,000 1 1 1594 0
48 Eagle Crest Dr 3D Condo $248,000 2 2 1434 20
16200 Pacific Hwy #21 Condo $269,000 2 2 1190 113
668 McVey Ave #76 Condo $274,900 2 1 836 14
5860 Lakeview Blvd Detached $289,900 2 1.5 1435 14
4324 Woodside Circle Attached $309,900 2 2 1216 3
13985 Sundeleaf Dr Detached $359,990 3 2 1278 23
18651 Don Lee Way Detached $399,000 4 2 1630 21
14710 Davis Ln Attached $399,999 2 2.5 1680 3
16953 Greentree Ave Detached $420,000 4 3 1941 4
4596 Lamont Way Detached $424,900 4 2 2236 7
18481 Waxwing Circle Detached $453,000 3 2.5 1840 52
16915 Crestview Dr Detached $459,000 4 2.5 2180 8
5221 Rosewood St Detached $469,000 3 2.5 2226 18
6276 Frost Ln Detached $489,900 4 3.5 2304 17
4725 Firwood Rd Detached $569,900 4 2.5 2557 6
17833 Hillside Way Detached $575,000 4 3 2668 32
2464 Marylhaven Pl Detached $610,000 4 2.5 2898 4
17244 Fernwood Dr Detached $649,900 4 2.5 2617 7
17065 Tualatin St Detached $739,000 3 2.5 2733 9
5955 Sunbrook Dr Detached $759,000 4 3 3110 5
15195 Lily Bay Ct Detached $898,000 4 2.5 4099 66
3301 Upper Dr Detached $1,295,000 4 3.5 4555 29
2322 Knaus Rd Detached $1,595,000 4 3.5+.5 4875 19
1495 Oak Terrace Detached $1,995,950 4 4 3983 542

Sold/Closed (May 3-10, 2015)

Address Type List Price Closed Price Sq Ft CDOM
15938 Quarry Rd A5 Condo $164,900 $159,000 996 7
668 McVey Ave #33 Condo $284,900 $270,000 852 58
3 Condolea Dr Condo $325,000 $296,500 2198 146
13901 Sundeleaf Dr Detached $399,000 $378,000 1,900 60
629 5th St Detached $529,000 $425,000 1122 266
1981 Summit Dr Detached $647,500 $490,000 2579 630
18640 Tualata Ave Detached $463,500 $525,000 2076 4
238 5th St Detached $725,000 $635,000 2134 69
17656 Woodhurst Pl Detached $825,000 $760,000 4597 51
13554 Peters Rd Detached $899,850 $885,000 3036 36
3131 Westview Ct Detached $1,150,000 $1,120,000 4688 4

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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Economic Recovery

The great recession of 2007-2013 is now well in the past with just a few lingering elements. I thought it would be helpful to share some insight on how this may affect your decision to buy or to sell a home.

Is it time to become a homeowner, again?

I am now seeing folks who lost their home to foreclosure, shortsale, or perhaps went through a bankruptcy getting back into home ownership. This chart was given to me by Ginny Schider, a wonderful loan officer at Pacific Residential Mortgage (503-319-3646). It shows the wait time necessary before you can be eligible for a new mortgage if you have experienced one of these events:

Loan Program Chapter 7 Bankruptcy Chapter 13 Bankruptcy Shortsales Foreclosure
or Deed-in-liew
Fannie Mae
Insured Loans 4 years from discharge 2 years from discharge 4 years 7 years
4 years from dismissal
Feddie Mac 5 years 5 years 4 years 7 years
Insured Loans
FHA 2 years from discharge 12 months acceptable 3 years 3 years
payment history
USDA 3 years 3 years 3 years 3 years
VA 2 years from discharge 2 years from discharge 2 years 2 years

I have worked with folks in this situation and I’ve got to say it one of the most rewarding experiences I’ve ever had as a Realtor. Seeing folks who have been through hard times getting back on their feet and moving forward with the ability to rebuild their lives.

Still a few lingering foreclosures and shortsales
It’s referred to as the shadow inventory. These are distressed properties that banks have been holding onto. They simply did not want to release too many foreclosures all at the same time. Foreclosures and shortsales tend to sell for less. So if too many happen all at once, they tend to cause declining home values. Banks addressed this by not putting them on the market. Some are vacant homes that are just sitting in neighborhoods because the house has already been foreclosed upon. Others are home owners who know their house is in foreclosure, but the bank has not finalized it. I am aware of people who have been living in homes, not making mortgage payments, but not being kicked out, for years. I believe banks choose to allow this to happen because if the person in default is still in the house, then the house is being heated and watched over. It is simply safer for the property.

I don’t know how long it will take for these hold out foreclosures to be sold, but they are continuing to trickle onto the market.

Shortsales have become much less common. This is because as values have come back, many home owners are now no longer under water with a mortgage that is greater than their home value. This is not to say that they are not still happening. It is simply less frequent.

So, while the recession is technically over, effects from it are still happening. And if you are someone who went through a bankruptcy, foreclosure, or shortsale, the good news is you may be approaching the time when you can become a home owner again. Don’t hesitate to give Whitney, Linda, or myself a call if you need a good Realtor!

Dianne

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Market Activity April 13-19, 2015

We are continuing to see more houses selling than houses coming on the market. This means inventory is tight and it is more of a seller’s market. The majority of houses are selling quite quickly, but there are still a few that have had extended market time. This reflects how important it is to get the pricing right when you list your house for sale. Priced right it will sell fast!

Last week in Lake Oswego we had 19 houses come onto the market, 26 move to pending status, and 24 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (Apr 13-19, 2015)

Address Type Price BR Bths SF
48 Eagle Crest Dr 3D Condo $248,000 2 2 1434
13985 Sundeleaf Dr Detached $359,990 3 2 1278
18651 Don Lee Way Detached $399,000 4 2 1630
17270 Bryant Rd Detached $399,000 3 3 2619
13431 Vermeer Dr Detached $499,000 3 2.5 2700
13951 Shireva Ct Detached $499,900 4 3 2185
5695 Washington Ct Detached $515,000 4 2 1769
5600 Dogwood Dr Detached $525,000 3 2 1908
5554 Royal Oaks Dr Detached $539,000 3 2 1861
4979 Galen St Detached $579,900 4 2.5 3298
221 6th St Detached $625,000 3 2 1508
2699 Tolkien Ln Detached $670,000 4 2.5 3115
13010 Sierra Vista Dr Detached $774,900 5 3.5 3450
4055 Orchard Dr Detached $795,000 5 3.5 3354
16987 Alder Circle Detached $839,000 3 2.5 1987
1821 Oak St Detached $899,000 4 3.5 5510
17353 Ridgeview Ct Detached $1,285,000 4 3.5 4032
14 Dover Way Detached $1,485,000 5 3.5 4593
2322 Knaus Rd Detached $1,595,000 4 3.5+.5 4875

Pending Sales (Apr 13-19, 2015)

Address Type Price BR Baths SF DOM
48 Eagle Crest Dr 1C Condo $99,900 2 2 1370 231
16250 Pacific Hwy #82 Condo $150,000 1 1 841 17
4 Touchstone #89 Condo $155,000 3 2.5 1351 72
1400 Bonniebrae Dr Attached $185,000 2 1 864 4
45 Eagle Crest Dr #219 Condo $189,000 3 2 1537 5
4107 Jefferson Pkwy Condo $237,500 2 2.5 1367 7
4283 Woodside Circle Attached $359,900 4 2 2032 10
1878 Mapleleaf Rd Detached $399,900 3 1.5 1347 5
5866 Ridgetop Ct Detached $407,500 3 2 1866 2
5210 Coventry Ct Detached $510,000 3 2.5 2135 2
1901 Woodland Terr Detached $519,000 4 3 2944 1
1119 Oak St Detached $529,900 4 2.5 2123 99
5326 Childs Rd Detached $549,901 3 2.5 1801 57
17650 Westview Dr Detached $565,000 4 3 2849 101
238 5th St Detached $657,000 3 2 2134 69
15 Nansen Summit Detached $685,000 3 2.5 3098 17
4125 Hedge Nettle Ct Detached $715,000 4 2.5 2890 6
4123 Chad Dr Detached $795,000 4 3.5 3833 186
18977 Barton Rd Detached $875,000 4 3.5+.5 5076 30
49 Briarwood Rd Detached $950,000 3 2 2162 138
13017 Knaus Rd Detached $1,249,000 4 3.5 46990 329
1059 Bayberry Rd Detached $1,399,950 4 3.5 3550 89
2410 Summit Ct Detached $1,595,000 3 3.5 3750 0
2493 Southshore Blvd Detached $2,895,000 5 5.5 7112 458
1780 Ridgecrest Dr Detached $3,750,000 4 5.5 6000 35

Sold/Closed (Apr 13-19, 2015)

Address Type List Price Closed Price Sq Ft CDOM
44 Eagle Crest Dr #1 Condo $134,900 $134,900 908 3
48 Eagle Crest Dr Condo $184,900 $152,500 1623 65
5225 Jean Rd Condo $170,000 $165,000 1100 10
900 Cornell St Detached $314,000 $295,000 1,300 24
668 McVey Ave #72 Condo $325,000 $325,000 1184 2
44 Oriole Ln Detached $389,000 $393,000 2156 6
134 Kingsgate Rd Detached $399,000 $397,100 1794 5
732 Clara Ct Detached $499,900 $402,500 2935 713
14201 Dolph Ct Detached $449,000 $432,500 1864 53
13855 Verte Ct Detached $449,000 $450,000 1835 12
1725 Fernwood Dr Detached $479,000 $460,000 1580 13
18768 Wood Duck St Detached $599,900 $477,500 2940 346
13721 Regency Ct Detached $509,500 $492,500 2311 102
18706 Bryant Rd Detached $519,995 $499,995 2400 23
6 Northview Ct Attached $532,500 $522,000 3200 14
1015 Southshore Blvd Detached $629,000 $603,500 3882 43
5665 Grand Oaks Dr Detached $780,000 $720,000 4226 1
1785 Palisades Terrace Dr Detached $799,000 $735,275 5052 227
2109 Wembley Park Rd Detached $795,000 $795,000 3154 73
2726 Rivendell Rd Detached $849,000 $849,000 3315 2
816 4th St Detached $949,900 $949,900 2699 9
703 5th St Detached $979,000 $979,000 2,719 4
17335 Canal Circle Detached $1,050,000 $1,050,000 2092 0
17138 Cedar Rd Detached $1,569,000 $1,410,000 3017 89

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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Tree City USA

“The wonder is that we can see these trees and not wonder more”
-Ralph Waldo Emerson

This year Lake Oswego is celebrating 26 years as a designated Tree City USA! This is given to cities that demonstrate a strong commitment to managing and caring for trees by the National Arbor Day Foundation. With Arbor week being April 5-11, it seem appropriate to do some bragging about the beautiful trees in Lake Oswego.

trees 002The Natural Resources Advisory Board for the city designates significant trees in the city as “Heritage Trees”. Four new trees are being given this designation this year: two sycamores at 16584 Roosevelt Avenue, a giant sequoia at 14145 Redwood Ct, and a madrone at Oswego Pioneer Cemetary on Stafford Road. That brings the total number of trees with this designation to 35.

In honor of Arbor Week, the city has got some pretty fun events planned:

Free the Trees is a concept that began in Springbrook Park. The idea is that while it is hard to clear all of the English Ivy out of the Park all at once, if it’s done gradually it gets done over time. English Ivy, left to grow unchecked, kills trees. People who take walks through the park were asked trim and remove the ivy around one tree while on their walk. It worked! If you would like to join in the effort, you can get more information by contacting Babs Hamachek at bhamachek@ci.oswego.or.us.

trees 003Stafford Grove Tree Planting & Poetry Reading. Thursday, April 9, 1:30-2:30, 1061 Sunningdale Rd. Join the Forest Hills/First Edition Neighborhood Association in planting a tree, and then listen to former Oregon Poet Laureate Paulann Peterson reading poetry.

Barnyard Tales & Heritage Tree Walk. Wednesday, April 8, 10-11am at Luscher Farm, 125 Rosemont Road. Lynne Bacon, a renowned storeyteller, will be holding a story time on the farm followed by a visit to the Heritage Trees that are located on the farm. Space is limited, so you need to register, although it is a free event. Register on line at www.loparks.org, use activity code #10646.

Blossoming Tree Craft. Saturday, April 9, 2-4pm, LO Library, 706 4th St. Make beautiful blossoming tree crafts. For all ages of tree lovers.

I personally have 4 HUGE trees in my yard, 3 firs and a glorious English walnut. They really enhance the feeling of sanctuary that I feel about my home.

Trees
-Joyce Kilmer
“I think that I shall never see
A poem lovely as a tree…….”

As always, thanks for reading the blotter,
Dianne

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Market Activity March 23-29, 2015

It was exactly 28 years ago today that I got my real estate license, no foolin’! I have always found amusement in the anniversary. I can not believe it has been 28 years, seriously. I’ve gone from being the young new agent to the seasoned “mature” agent. I love it!

Just 12 new listings last week certainly reflects that it was spring break. People were likely out and about vacationing and enjoying their families. 22 pending sales is also a refection of the holiday from school that freed up families to look for a new home. We also had 20 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (March 23-29, 2015)

Address Type Price BR Bths SF
47 Eagle Crest Dr #52 Condo $89,000 1 1 666
100 Kerr Parkway #52 Condo $105,000 1 1 617
4 Touchstone#107 Condo $158,000 3 2.5 1351
3970 Carman Dr Condo $219,900 2 2.5 1129
5062 Foothills Dr H Condo $250,000 3 2 1252
5364 Rosewood St Detached $449,900 4 2.5 1980
4711 Rembrandt Ln Detached $450,000 3 2.5 2050
6192 Harrington Ave Detached $489,000 5 3 2817
18530 Bryant Rd Detached $514,995 3 2.5 2400
1426 Greentree Circle Detached $545,000 4 3 3216
639 Carrera Ln Detached $849,000 5 3.5 4305
19300 Stafford Rd Detached $1,995,000 4 2.5 6065

Pending Sales (March 23-29, 2015)

Address Type Price BR Baths SF DOM
320 Cervantes Circle Condo $123,000 2 1 832 44
44 Eagle Crest Dr #3 Condo $145,000 3 2 1065 25
15938 Quarry Rd A-5 Condo $164,900 2 1 996 7
48 Eagle Crest Dr Condo $166,500 3 2 1623 65
5530 Bonita Rd Detached $398,000 3 2 1200 34
134 Kingsgate Rd Detached $399,000 3 2.5 1794 5
13901 Sundeleaf Dr Detached $399,000 4 3 1900 60
4909 Lower Dr Detached $425,000 4 2.5 1992 72
17280 Westview Dr Detached $429,000 4 3 2324 6
103 Garibaldi St Detached $479,000 3 3.5 3322 1215
18582 Bryant Rd Detached $499,995 3 2.5 2400 7
1119 Oak St Detached $529,900 4 2.5 2123 76
980 C Ave Detached $539,900 3 2 1312 65
279 Evergreen Rd Attached $639,000 3 3.5 2136 9
2189 Fernwood Circle Detached $650,000 4 2.5 2921 4
4945 Parkhill St Detached $659,900 5 2.5 3302 0
1670 Pine St Detached $675,000 4 3.5 3286 17
667 3rd St Attached $679,000 6 6 3120 10
15947 Waluga Dr Detached $725,000 4 2.5 3370 18
4405 Sundew Ct Detached $789,000 5 3.5 4820 11
715 4th St Detached $1,015,000 3 2.5 2762 3
4077 Westview Rd Detached $1,748,000 4 4 3644 17

Sold/Closed (March 23-29, 2015)

Address Type List Price Closed Price Sq Ft CDOM
106 Oswego Summit Condo $165,000 $165,000 1140 5
16805 Gassner Ln Detached $225,000 $225,000 1092 7
1260 Hallinan St Detached $298,000 $298,000 1325 4
4287 Haven St Detached $375,000 $375,000 1,200 1
3402 Lake Grove Ave Detached $414,900 $395,000 1686 102
7 Bernini Ct Detached $549,000 $420,000 3314 376
12836 Sierra Vista Dr Detached $449,000 $425,000 2166 19
5926 Dove Ct Detached $435,000 $450,000 1807 2
886 9th St Detached $469,500 $450,000 860 23
18929 Terry Ave Detached $499,900 $480,000 2441 20
1710 Glenmorrie Terrace Detached $499,900 $505,000 2865 135
3285 Childs Rd Detached $599,900 $612,000 2693 3
4258 Albert Circle Detached $689,000 $625,000 2745 197
19242 Indian Springs Rd Detached $749,900 $745,000 3365 35
5488 Southwood Dr Detached $799,000 $788,500 3280 112
1136 Westward Ho Rd Detached $1,190,000 $780,000 3344 324
568 9th St Detached $925,000 $900,000 2825 85
12810 Alto Park Rd Detached $944,000 $981,000 3834 97
18224 Bella Terra Dr Detached $1,225,000 $1,160,000 3834 97
2490 Summit Dr Detached $2,200,000 $2,020,000 3000 212

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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Home Warranties

Home warranties have become a common part of the majority of real estate transactions. It is basically an insurance policy that covers the home system components and some of the appliances. My most simple description is that if you think about items that have energy or movement in them, it is more likely to be part of the policy. Each policy is slightly different, so please consult the companies who offer them, but what is usually covered are furnace, water heater, plumbing and electric elements. What isn’t covered are stationary elements like the roof, the foundation, the walls.

When policies are purchased, they are good for one full year from the date of purchase and can then be annually renewed thereafter. I have twice had clients who received the policy when they purchased their home and then kept it the entire time they owned the house.

There are numerous companies who offer these policies. I am going to tell you about the three that I see most used in our area.

ahs_logo_176x65American Home Sheild is the big boy in this field. They were the first company I heard of and they do a big percentage of the plans that are sold. They have 3 plans: Esssential, Plus, and Complete. The numbers I am going to give you here are as of this day, and do not include quite a few options that could be added on. It is based upon a home that is single family, in Oregon, 10+ years of age (newer homes are slightly less expensive) and does not include air conditioning (which could be added on).

The Essential Plan does not cover any appliances. It does cover the furnace, water heater, plumbing and electric. It costs $380. The Plus plan covers the appliances, including the refrigerator and the washer and dryer, and it costs $510. The complete plan adds to the coverage things like the garage door opener, the door bell, and ceiling fans. It costs $565.

To use the policy you simply call an 800 number to make a claim. American Home Shield contracts locally and sends a technician to your home. There is a $75 charge for each service call.

It is possible to place the policy on the home at the time it is listed for sale. I highly recommend this. It is not paid for until the house is sold. If the house is never sold then there is no charge for the coverage unless the policy is used and that charge is just $60. So it is really affordable and the policy could potentially be used to deal with home inspection issues.

logoFirst American Home Buyer Protection Corporation is another well known company. They have two plans: Basic and Value+. Basic covers the home systems including the dishwasher and the range, but no refrigerator or washer/dryer. It costs $290. The Value+ plan adds air conditioning and it costs $420. Other items can be added to this plan, as it can be added to the other two, such as septic systems, swimming pools, the washer/dryer and the refrigerator. The service call to make a claim is $60. First American Home Buyer Protection also offers 180 days of coverage to the seller when the house is listed for sale at no charge, unless the policy is used and then the house is not sold, then there is a charge of $60.

home_warrantyLast I will mention Fidelity National Home Warranty They offer two plans: Standard and Comprehensive. The Standard plan does not include air conditioning and it costs $260. The Comprehensive plan does include the air conditioning and it costs $360. Both plans cover the dishwasher and the range, but neither cover the washer, dryer or refrigerator, which can be added on for an additional charge. The service call to make a claim is $65. Coverage for the seller at the time the house is listed for sale is available at no charge.

I think it’s pretty easy to see why purchasing one of these policies makes sense. For someone selling it may help cover repair issues and it certainly helps the buyer have a better comfort level with the home. For buyers, who usually spend most of their money on the down payment and the closing costs, it helps them to feel like they have a financial cushion for the first year that they will own the home.

Who pays for the policy? It’s negotiated between the buyer and the seller. I think it depends a lot on how long the house has been on the market without an offer, and also on how close to the asking price the buyer is offering.

I want to encourage you to do your research before you make or receive an offer. Figure out which plan you like and make sure it covers the elements that are of concern to you.

I am not an expert on these policies. I want to encourage you to contact these companies yourself to get exact information. Here is the contact info:

American Home Shield, 866-406-0440, www.ahs.com

First American Home Buyer Protection Corporation, 888-875-0533, www.homewarranty.firstam/Default.aspx

Fidelity National Home Warranty, 800-308-1420, www.homewarranty.com

Do not hesitate to get in touch with Linda, Whitney, or myself, if you have any questions about real estate!
Dianne

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Market Activity March 2-8, 2015

This is our 1000th post! AMAZING! Back in the beginning, Linda and I had no idea how well this blog would work. At the time there were only about a dozen real estate blogs being done in the Portland Metro area and not a single one, that we could find, that focused exclusively on Lake Oswego real estate. It’s been a wonderful success. We have met many of our readers who have become clients or simply come to meet us at our open houses. We want to thank you for reading the propertyblotter and for sharing the Lake Oswego real estate adventure with us!

Now for last week’s market activity. Lake Oswego had 23 properties come up for sale, 24 go into contract/pending status, and 12 closed sales.

Below are the details according to the RMLS:

New on the Market (March 2-8, 2015)

Address Type Price BR Bths SF
89 Galen St #89 Condo $89,000 1 1 575
47 Eagle Crest Dr #41 Condo $115,000 2 1 932
4 Touchstone #158 Condo $140,000 2 2 984
44 Eagle Crest Dr #3 Condo $149,900 3 2 1085
16805 Gassner Ln Detached $225,000 3 2 1092
900 Cornell St Detached $314,000 3 1.5 1300
12 Saint Helens Circle Detached $381,000 3 2 1790
1725 Fernwood Dr Detached $479,000 4 2.5 1580
1990 Greentree Rd Detached $479,900 4 3 2100
11 Juarez St Detached $550,000 4 2.5 2600
1272 Zivney Detached $679,900 4 3 2658
5124 Woodcrest Ln Detached $719,900 5 2.5 2923
15947 Waluga Dr Detached $725,000 4 2.5 3370
12615 SW 21st Ct Detached $739,000 4 3.5 4594
504 10th St Detached $750,000 3 2 2277
17583 Shepherds Ct Detached $774,900 4 3 2997
17572 Shepherds Ct Detached $779,900 4 3 2983
100 Leonard St Condo $799,900 3 2.5 2734
17656 Woodhurst Pl Detached $825,000 4 2.5 4597
15195 Lily Bay Ct Detached $898,000 4 2.5 4099
13624 Goodall Rd Detached $1,539,000 4 4.5+.5 4411
4077 Westbay Rd Detached $1,749,000 4 4 3644
778 Cabana Ln Detached $1.995,000 3 3 3343

Pending Sales (March 2-8, 2015)

Address Type Price BR Baths SF DOM
56 Galen St Condo $142,500 2 2 1000 10
5225 Jean Rd #311 Condo $170,000 2 2 1100 35
3433 McNary Pkwy #506 Condo $175,000 2 2.5 1136 3
4524 Lower Dr #A3 Condo $279,000 3 2.5 1650 147
668 McVeyAve #33 Condo $284,900 2 1 852 2
3101 Wembley Park Rd Detached $319,000 2 1 858 3
4670 Lower Dr Detached $374,900 3 2.5 1587 154
44 Oriole Ln Detached $389,000 4 2.5 2156 6
9 Touchstone Detached $397,000 3 2 1890 4
13855 Verte Ct Detached $449,000 3 2.5 1835 12
48 Spinosa Detached $462,500 3 2.5 2848 47
1448 Cedar St Detached $468,000 4 3 2544 532
18768 Wood Duck St Detached $499,900 3 3 2940 346
1710 Glenmorrie Terrace Detached $499,900 3 3 2865 135
34 Del Prado St Detached $539,950 4 3 3120 101
13819 Provincal Hill Dr Detached $549,900 4 2.5 2096 8
17749 Leafy Ln Detached $585,000 4 3 3300 25
8 Del Prado St Detached $599,900 5 3 3548 59
18125 Westminster Dr Detached $749,000 4 3.5 3866 4
15203 Lily Bay Ct Detached $779,000 4 2.5 3219 34
1785 Palisades Terrace Dr Detached $799,000 4 4.5 5052 216
14488 Pfeifer Dr Detached $825,000 4 3.5 3563 31
1267 Maple St Detached $879,000 4 2.5 3388 140
290 Iron Mountain Blvd Detached $2,095,000 5 5 4733 1

Sold/Closed (March 2-8, 2015)

Address Type List Price Closed Price Sq Ft CDOM
45 Eagle Crest #308 Condo $169,900 $165,000 1046 24
1460 Greentree Circle Detached $399,900 $390,000 1791 3
1401 Greentree Circle Detached $449,000 $425,395 1800 165
808 Ellis Ave Detached $514,900 $510,900 2,108 28
15885 White Oaks Dr Detached $625,000 $624,000 2802 55
67 Nansen Summit Detached $749,000 $714,000 4992 507
17838 Marylcreek Dr Detached $750,000 $725,000 4317 35
17171 Lowenberg Terr Detached $739,000 $735,000 3002 118
2065 Ridge Pointe Dr Detached $849,900 $825,000 4790 246
245 Chandler Pl Detached $900,000 $900,000 3733 0
1057 Bullock St Detached $945,000 $915,000 4700 185
556 7th St Detached $1,075,000 $1,075,000 3911 0

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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Tennis Opportunities

09_tennis_resurfI think there are quite a number of things that add to quality of life, and staying active and fit is one of them. For some that may involve aerobics, weights, walking, running, swimming, any number of activities. The greater your options, the greater the odds are that you’ll stay active, and tennis is a great option.

The City of Lake Oswego offers indoor and outdoor tennis options.

Outdoor tennis is found in 7 locations, 2 of which have lighting for evening use. These courts are first-come, first-serve with the exception of the courts that are located on school property. Use at those locations is affected by school use as well. But they are pretty simple to use and easy to find. For a list of locations, click here.

The indoor courts can be found at the Tennis Center at 2900 Diane Drive in Springbrook Park. Open daily from 6:00am to 9:00pm, courts are available on an hourly basis for $18 per hour. Reservations can be made up to a week in advance. For convenience you can buy lump sum packages (still at $18 an hour). In July there is a lottery for up to 4.5 months of advance reservations in September to May.

dsc_0387The indoor facility has four courts. There are a wide variety of activities for all ages, and all abilities: general use, lessons, competitions, youth tennis, it’s very impressive.

Of special note, the Lake Oswego Tennis Center, with sponsorship from the Greater Portland Tennis Council, provides the only Special Olympics tennis program in the State of Oregon.

Also, be aware for about 2 weeks each summer the facility is closed for maintenance. Last year the 2 weeks were in August.

I hope you find this helpful. Enjoy!
Dianne