Author: Dianne Gregoire

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Kiss Comes to LO

00003493641709There hasn’t been this much excitement over a celebrity sighting in LO since Bruce Springsteen married Julianne Phillips in a midnight wedding at Our Lady of the Lake Church.

On September 14th, Kiss played a charity concert at the home of Rick and Erika Miller on Jantzen Island. I first learned about it when a friend posted on facebook that they had stumbled upon the concert while out on their boat for an evening jaunt. Pretty cool to find a surprise concert.

It turns out that band member Tommy Thayer is the son of James Thayer, now 93, who was a part of George Patton’s 3rd Army that liberated several Nazi death camps at the end of World War II. A military museum is now being build at Camp Withycombe in Clackamas. The new museum, now under construction, is going to be named after Tommy Thayer’s father. It will be the Brig. Gen. James B Thayer Oregon Military Museum.

00003493641728Honoring the U.S. Military is a passion of the band. There is even a possibility that Gene Simmons mother was in one of the camps that Tommy Thayer’s Dad helped liberate.

The event raised $1.15 million for the construction of the museum.

What I like about this story is that Kiss came to town. I mean, come on, it’s Kiss. The other thing I like is that it means LO is a small enough town that it’s a big deal.

Dianne

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Market Activity Sept 8-14, 2014

It certainly feels like the waning days of summer with the crisp fell of fall in the evening air. Our market continues to be strong, although less active as it was over the summer. Last week in Lake Oswego we had 20 new listings, 17 houses go into pending status and 7 sold/closed sales.

Following is the breakdown according to RMLS:

New on the Market (Sept 8-14, 2014)

Address Type Price BR Bths SF
4 Touchstone #76 Condo $124,000 2 2 984
10 Cervantes Circle Condo $149,900 2 1.5 912
1531 Boca Ratan Dr Attached $289,000 3 2 1755
468 5th St Condo $310,000 2 1.5 1092
20 Aquinas St Detached $410,000 4 2.5 1814
143 Kingsgate Rd Detached $469,000 3 2 2618
804 2nd St Attached $505,000 4 3 3548
2626 Park Rd Detached $537,500 4 3 2475
1868 Kilkenny Dr Detached $550,000 3 2.5 2500
17102 Campus Way Detached $575,000 4 3 2626
17941 Meadowlark Ln Detached $579,000 4 3.5 3905
4821 Dawn Ave Detached $599,000 3 2 1854
17704 Treetop Ln Detached $695,000 5 3.5 3975
2823 Glen Haven Rd Detached $749,900 5 4 3015
14220 Bridge Ct Detached $750,000 4 2.5 3419
1623 Glenmorrie Dr Detached $850,000 5 4.5 5656
16342 Ivy Ln Detached $939,900 5 3.5 4645
2543 Palisades Crest Detached $998,900 3 2.5+.5 4141
1880 Crest Dr Detached $1,650,000 3 3 2800
1150 Fairway Rd Detached $3,750,000 5 5.5 8527

Pending Sales (Sept 8-14, 2014)

Address Type Price BR Baths SF DOM
4 Touchstone #91 Condo $122,500 2 2 984 23
86 Kingsgate Rd C102 Condo $131,000 2 2 924 4
4000 Carman Dr #28 Condo $144,000 2 2 884 4
200 Burnham Rd #301 Condo $159,000 1 1 948 22
5058 Foothills Dr A Condo $239,900 2 2 1252 12
18660 Don Lee Way Detached $259,900 3 1 946 35
18852 Longfellow Ave Detached $309,900 3 1.5 1232 49
14594 Wilmot Way Detached $420,000 3 2.5 1710 0
17688 Cardinal Ct Detached $459,000 3 3 1970 14
13448 Auburn Ct Attached $525,000 3 2.5 2535 4
100 D Ave Attached $539,000 2 2.5 1847 7
754 5th St Detached $770,000 3 3 2179 9
2175 Crest Dr Detached $799,900 3 3 2950 20
814 Lake Shore Rd Detached $899,000 3 2.5 1972 78
2943 Lakeview Blvd Detached $979,900 4 3 3794 419
744 9th St Detached $1,239,000 4 3.5 4255 46
17442 Ridgeview Ln Detached $1,325,000 4 3.5+.5 5036 198

Sold/Closed (Sept 8-14, 2014)

Address Type List Price Closed Price Sq Ft CDOM
6360 McEwan Rd Detached $275,500 $260,000 1450 83
827 5th St Detached $689,000 $659,000 2124 50
17288 Lowenberg Ter Detached $875,000 $847,000 3467 22
16672 Fir Ln Detached $899,000 $905,000 4,179 119
1776 Oak St Detached $925,000 $910,000 4012 5
590 Oak Meadow Dr Detached $1,249,000 $1,249,000 4673 5
16775 Graef Circle Detached $1,450,000 $1,400,000 2448 52

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 August 25-31, 2014

Here is your Latest Market Data: last week in Lake Oswego we saw 13 New properties enter the market, 15 move to Pending status, and 17 “Closed”/Sold.

Following is the breakdown according to RMLS:

New on Market (Aug 25-31, 2014)

Address Type Price BR Bths SF
48 Eagle Crest Dr 1C Condo $169,950 2 2 1370
5061 Foothills Dr G Condo $199,900 2 2 991
5058 Foothills Dr A Condo $239,900 2 2 1252
18963 Longfellow Ave Detached $325,000 3 1.5 1232
4631 Wildwood St Detached $399,900 3 2 1650
17688 Cardinal Ct Detached $459,000 3 3 1970
3 Bolivar St Detached $524,900 4 3.5 4782
768 Berwick Ct Detached $549,900 3 2 1731
1210 Wells St Detached $750,000 3 3.5 4494
4090 Westbay Rd Detached $765,000 3 2 2078
63 Nansen Summit Detached $899,900 4 3.5 3202
16650 Fir Ln Detached $1,279,000 4 3.5 3860
17344 Cedar Rd Detached $1,325,000 5 2.5 2831

Pending (Aug 25-31, 2014)

Address Type Price BR Baths SF DOM
366 Cervantes Circle 14-C Condo $136,500 2 1 832 2
6360 McEwan Rd Detached $265,500 3 1.5 1450 83
466 5th St #14 Condo $310,000 2 1.5 1092 27
23 Falstaff ST Detached $329,500 3 2 1434 53
475 8th St Detached $375,000 3 1 960 0
562 2nd St Condo $379,900 2 2.5 1302 177
17211 Robb Pl Detached $439,000 3 2 2085 68
2195 Glenmorrie Ln Detached $521,900 3 2 2461 102
4311 Orchard Way Detached $525,000 4 2.5 3010 227
11 Juarez St Detached $550,000 4 2.5 2551 91
33 Morningview Circle Detached $550,000 3 2.5 2737 123
17641 Brookhurst Dr Detached $659,000 4 2.5 3386 34
551 2nd St Condo $660,000 2 2 1631 74
3894 Tamarack Ln Detached $825,000 4 3.5 4035 20
1400 Ridgecrest Dr Detached $1,649,500 4 4 3859 15

Sold/Closed (Aug 25-31, 2014)

Address Type List Price Closed Price Sq Ft CDOM
100 Kerr Parkway #54 Condo $89,900 $86,900 617 2
5720 Kenny St Detached $299,900 $270,000 1416 64
14360 Uplands Dr Detached $468,000 $275,000 2943 483
16200 Pacific Hwy #15 Condo $279,900 $275,000 1,200 6
3009 Wembley Park Rd Detached $365,000 $375,000 1763 3
50 Condolea Ct Condo $425,000 $398,000 2760 85
15115 Twin Fir Rd Detached $409,900 $400,000 1392 160
15422 Partridge Dr Detached $420,000 $405,000 2580 49
4908 Mulholland Dr Attached $439,000 $429,000 2498 8
54 Aquinas St Detached $499,900 $495,000 2632 90
828 5th St Detached $550,000 $535,000 1884 10
1611 Highland Dr Detached $549,000 $549,000 2,675 14
14564 Kruse Oaks Blvd Detached $689,900 $674,250 3001 10
2479 Marylview Ct Detached $769,000 $756,675 3832 18
1603 Bay View Ln Detached $849,000 $775,000 3650 57
5347 Denton Dr Detached $785,000 $779,000 3240 1

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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Welcome Whitney!

Whitney Gregoire
Whitney Gregoire
I am just super excited to announce the addition of my daughter, Whitney Gregoire, to our team here at the blotter. My Mom was a Realtor here in Lake Oswego for nearly 30 years. I got my license in 1987, and now Whitney has gotten her license as well. I guess it’s in our blood.

Whitney in 1988 in front of my Mom's sign
Whitney in 1988 in front of my Mom’s sign
Whitney is a graduate of Lakeridge High School here in Lake Oswego and graduated from Columbia College Chicago in 2008 with a degree in computer annimation. She is extremely creative and engaging. I think you’ll enjoy the energy she brings to her endeavors. I am excited to have her computer and technical skills be part of our team. I think she will give you a fresh perspective on the topic of real estate.

Welcome Whitney!

Dianne

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Market Activity August 18-24, 2014

Here is your Latest Market Data: last week in Lake Oswego we saw 14 New properties enter the market, 27 move to Pending status, and 19 “Closed”/Sold.

Following is the breakdown according to RMLS:

New on Market (Aug 18-24, 2014)

Address Type Price BR Bths SF
4 Touchstone #91 Condo $122,500 2 2 984
200 Burnham Rd #301 Condo $159,000 1 1 948
48 Eagle Crest Dr 2B Condo $204,900 3 2 1623
1180 Oxford Dr Detached $329,900 3 3 1760
5713 Kenny St Detached $349,000 3 2 1384
19180 Indian Creek Ave Detached $365,000 4 3 2392
18978 Indian Springs Circle Detached $425,000 3 2 1900
1310 Lee St Detached $425,000 3 2 2344
1401 Greentree Circle Detached $449,000 3 2 1800
18431 Deer Oak Ave Detached $449,900 4 2.5 2203
120 Condolea Dr Condo $549,900 3 3 2958
2175 Crest Dr Detached $799,900 3 3 2950
18177 Delenka Ln Detached $830,000 5 2.5+.5 3802
18042 skyland Circle Detached $1,150,000 5 3 4800

Pending (Aug 18-24, 2014)

Address Type Price BR Baths SF DOM
4 Touchstone #110 Condo $149,000 2 2 1000 24
245 Cervantes Condo $149,900 2 2 1292 5
1316 Cedar St Detached $240,000 1 1 1594 7
1531 Cedar St Detached $264,900 2 1 832 4
16200 Pacific Hwy #21 Condo $269,000 2 2 1190 78
1 Peacock Place Detached $299,000 3 2.5 1248 34
5010 Oakridge Rd Detached $317,500 3 2 1182 4
90 Kingsgate Rd Detached $325,000 3 2.5 1727 326
4291 Woodside Circle Attached $325,000 3 2 2026 49
1795 Fernwood Dr Detached $329,900 3 1 1220 17
16494 Inverurie Rd Detached $349,000 3 1 1200 7
10 Abelard St Detached $394,900 3 2 1874 5
16902 Chapin Way Detached $449,000 3 2.5 1993 4
1191 Oxford Dr Detached $459,950 5 3 2900 57
4575 Oakridge Rd Attached $460,000 3 2.5 1927 49
18893 Indian Springs Circle Detached $469,500 4 3 2841 132
18211 Moria Ct Detached $519,000 4 2.5 2538 14
577 2nd St #306 Condo $570,000 2 2 1459 45
17900 Canal Rd Detached $575,000 4 3 2992 266
17450 Treetop Way Detached $585,000 5 3 3752 0
3333 Royce Way Detached $614,999 4 2.5 2697 295
16 Southwood Dr Detached $632,500 5 2.5 3043 6
435 8th St Detached $695,000 3 3.5 2394 116
841 Northshore Rd Detached $889,850 3 3 2388 68
1776 Oak St Detached $925,000 4 3.5+.5 4012 5
17643 Kelok Rd Detached $950,000 4 2.5 2390 92
2015 Street of Dream Detached $1,998,000 5 4.5 5185 57

Sold/Closed (Aug 18-24, 2014)

Address Type List Price Closed Price Sq Ft CDOM
370 Cervantes Circle Condo $133,000 $111,000 832 83
510 S State St Condo $150,000 $149,000 829 4
4 Touchstone #62 Condo $158,500 $158,500 1351 6
1368 Boca Ratan Dr Attached $262,500 $255,000 1,611 55
5950 Harrington Ave Detached $298,000 $280,000 960 43
6136 Fernbrook Circle Detached $293,455 $306,455 1250 1
135 Kingsgate Rd Detached $357,000 $344,500 1720 17
17440 Hill Way Detached $389,900 $348,000 1492 1
1380 Bonniebrae Dr Detached $415,000 $385,000 2940 37
3065 Royce Way Detached $469,000 $410,000 2726 223
1210 Wells St Detached $525,000 $470,000 4494 132
5 Falstaff St Detached $495,000 $482,000 2,417 12
5415 Bay Creek Dr Detached $600,000 $600,000 3105 3
18322 Anduin Terrace Detached $689,000 $650,000 3771 106
17303 Grandview Ct Detached $675,000 $664,000 3580 49
146 Del Prado St Detached $699,900 $676,000 3263 7
17814 Marylcreek Dr Detached $799,900 $780,000 4497 0
755 6th St Detached $995,000 $909,000 4170 181
3730 Marquis Ct Detached $1,899,000 $1,899,000 6039 489

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 August 4-10, 2014

Summer continues to bring us a very strong real estate market here in Lake Oswego. Last week there were 18 new listings brought onto the market, 25 properties moved to pending status, and 23 closed/sold homes.

Following is the breakdown according to RMLS:

New on the Market (August 4-10, 2014)

Address Type Price BR Bths SF
18660 Don Lee Way Detached $279,900 3 1 946
7210 Childs Rd Detached $295,000 3 2 1542
1795 Fernwood Dr Detached $334,900 3 1 1220
1305 Cornell St Detached $369,900 3 2 2692
3061 Doris Ct Detached $449,000 5 2 2684
1023 Gans St Detached $495,000 3 2.5 2770
18840 Rivendell Ct Detached $499,000 4 3 3060
18211 Moria Ct Detached $519,000 4 2.5 2538
7190 Childs Rd Detached $525,000 3 3 2316
17601 Woodhurst PL Detached $675,000 3 2.5 3179
4258 Albert Circle Detached $689,000 4 2.5 2745
16342 Ivy Ln Detached $699,900 5 3.5 4645
13639 Twin Creek Ln Detached $699,950 4 2.5 3202
2612 Rivendell Rd Detached $799,000 4 3 3168
18977 Barton Rd Detached $825,000 4 3.5+.5 5076
3894 Tamarack Ln Detached $825,000 4 3.5 4035
3600 Southshore Blvd Detached $849,900 3 2.5 2177
16342 Ivy Ln Detached $1,175,000 5 3.5 4645

Pending Sales (August 4-10, 2014)

Address Type Price BR Baths SF DOM
4 Touchstone #110 Condo $149,000 2 2 1000 10
16250 Pacific Hwy #47 Condo $189,900 2 1 1305 79
16200 Pacific Hwy #15 Condo $279,900 2 2 1200 6
4271 Woodside Circle Attached $350,000 3 2 2126 360
17617 Arbor Ln Detached $390,000 3 2 1745 11
50 Condolea Ct Condo $398,000 2 3 2760 85
1380 Bonniebrae Dr Detached $415,000 5 3 2940 37
17225 Chapin Way Detached $425,000 3 2 2257 17
18929 Longfellow Ave Detached $446,000 3 2 1800 7
32 Northview Ct Attached $459,900 4 3.5 3063 117
811 Sunny Hill Dr Detached $489,900 4 3 2964 53
6810 Childs Rd Detached $496,010 4 2 3282 20
2610 Glen Haven Rd Detached $524,995 4 3 3187 90
1282 Hide A Way Ln Detached $525,000 5 3 3300 65
32 Del Prado St Detached $529,900 3 3.5 2602 53
4105 Wood Hill Ct Detached $625,000 4 3 3154 75
2858 Tolkien Ln Detached $658,000 4 3.5 3742 139
2630 Rivendell Rd Detached $710,000 4 3.5 4611 413
5626 Grand Oaks Dr Detached $715,000 3 3.5 3387 73
14183 Taylors Crest Ln Detached $749,999 4 2.5 3624 92
17814 Marylcreek Dr Detached $799,900 5 3.5 3397 8
4063 Canal Woods Ct Detached $999,900 4 3.5 4563 126
1777 Atherton Dr Detached $1,595,000 6 4.5+.5+.5 6237 56
13777 Cameo Ct Detached $1,700,000 4 5.5 7300 28

Sold/Closed (August 4-10, 2014)

Address Type List Price Closed Price Sq Ft CDOM
100 Kerr Pkwy #57 Condo $115,000 $115,000 822 7
44 Eagle Crest Dr #37 Condo $131,900 $131,900 908 57
174 Oswego Summit Condo $179,900 $179,900 1506 24
45 Eagle Crest Dr #100 Condo $215,000 $200,000 1,537 21
4405 Thunder Vista Ln Condo $225,000 $219,000 2002 49
2130 Wembley Park Rd Detached $399,900 $399,900 1544 1
1710 Meadows Dr Detached $399,900 $408,000 1677 66
13053 Sierra Ct Detached $479,900 $452,500 2215 107
17088 Rebecca Ln Detached $499,950 $464,000 2554 301
18343 Anduin Terrace Detached $649,900 $530,000 3000 375
4736 Lakeview Blvd Detached $584,900 $584,900 2838 18
17033 Chapin Way Detached $660,000 $625,000 3,163 113
5027 Rosewood St Detached $659,900 $645,900 3156 85
13268 Deerfield Ct Detached $649,900 $651,900 2895 2
1168 Andrews Rd Detached $725,000 $668,000 1851 13
3766 Rivers Edge Dr Detached $729,900 $719,900 3404 13
4076 Orchard Dr Detached $759,000 $732,000 3991 45
3900 Canal Rd Detached $938,950 $883,500 3759 40
730 Kenola Ct Detached $937,500 $919,200 4319 8
1224 Tyndall Ct Detached $950,000 $925,000 4157 38
16809 Quail Ct Detached $1,000,000 $949,900 4425 40
2120 Glenmorrie Dr Detached $1,275,000 $1,190,000 4293 124
4101 Southshore Blvd Detached $2,850,000 $2,900,000 3707 2

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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Bring on the Home Inspection

You’ve hired a great Realtor and accepted an offer to sell your home. You know your house. You’ve taken care of it, but it’s not perfect. What is going to turn up in the home inspection? This has got to be one of the most agonizing parts of the selling process. Here are some tips and pointers to help know what to expect.

ladderGet your house ready
The inspector is going to be going on the roof, opening and closing every door and window, and thoroughly investigating the entire house. You need to make his job possible by creating easy access to the attic hatch and the crawl space entrance. These are often in closets that are full of coats, luggage, and assorted personal items. Find these entries and clear out the path to the opening. You can just set things in the adjoining room and then put it all back when the inspection is over. Likewise, the inspector needs to get to the electrical panel. If it’s behind stacked boxes in the garage, it’s a problem. Move those boxes, shelves and toys so that the inspector does not have to.

radonIf there is going to be a radon test, you need to maintain “closed house” conditions for 12 hours prior to the test starting. You can come and go, just don’t leave doors or windows standing open. These conditions must be maintained during the duration of the test (usually 48 hours). This can be hard in the summer, but you must abide by the guidelines or the test will be defective.

Stay Away
Home inspections will last anywhere from 2-5 hours depending upon the inspector and the inspections being done. It’s not uncommon for multiple inspections to be done including sewer scopes and air samples. So be patient. Please don’t be circling the block. This creates pressure upon the buyer and the buyer’s Realtor to hurry to conclusion. This is not fair to the buyer who has an agreement that allows him the opportunity to do his own investigation.

There are two problems that occur if you are present at your buyer’s home inspection. First, the buyer feels awkward. The inspection will specifically be searching for defects. Finding them creates conversation that the buyer simply prefers you not hear. Second, you will put yourself in a position of being asked questions. A person selling a home wants the inspection to go well. While trying to be helpful, you may actually dig your self into a hole by suggesting you’ll take care of issues when you haven’t seen the full list of demands, or worse, representing knowledge you don’t really have. Your roof may not have ever leaked, but do you really know if it’s been flashed correctly? Stay away and stay out of trouble.

crawlspaceBe Reasonable
A successful sale needs both the buyer and the seller treating one another fairly and reasonably. Everything is negotiable and that is why Realtors are there to represent you. A Realtor will know if the items on the repair list are necessary for financing, are within the scope of normal requests, and if the sales price reflects the condition of the property.

So don’t panic, all will be well. Just know what to expect and do your part to get your house ready and accessible.

Thanks for reading,
Dianne

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Market Activity July 21-27, 2014

Here is your Latest Market Data: Last week in Lake Oswego we saw 16 new properties enter the market, 26 move to pending status, and 16 closed/sold.

Following is the breakdown according to RMLS:

New on the Market (July 21-27, 2014)

Address Type Price BR Bths SF
18852 Longfellow Ave Detached $314,900 3 1.5 1232
16875 Tracy Ave Detached $320,000 4 2 1825
200 Burnham Rd Condo $385,000 3 2 1862
17617 Arbor Ln Detached $390,000 3 2 1745
69 Condolea Terrace Condo $395,000 2 2.5 2157
4208 Harvey Way Detached $419,000 2 2 2132
17225 Chapin Way Detached $425,000 3 2 2257
2105 Greentree Rd Detached $459,950 3 2.5 1864
960 9th St Detached $475,000 2 1 1509
32 Del Prado St Detached $529,900 5 3 3696
251 D Ave Detached $825,000 3 2.5+.5 2635
17288 Lowenberg Terrace Detached $875,000 4 3.5 3467
744 9th St Detached $1,295,000 4 3.5 4255
915 Skyland Dr + Lot Detached $1,350,000 6 4.5 7072
1199 Fairway Rd Detached $2,995,000 4 4.5+.5 5527
16835 Greenbrier Rd Detached $6,950,000 6 5.5+.5+.5 8852

Pending Sales (July 21-27, 2014)

Address Type Price BR Baths SF DOM
14344 Holly Springs Rd Detached $399,000 3 2.5 1699 0
25 Monticello Dr Detached $409,000 3 2.5 2606 3
28 Westridge Dr Detached $429,900 3 2.5 2580 49
1440 Cherry Crest Ave Detached $435,000 4 2.5 1938 41
4908 Mulholland Dr Attached $439,000 3 2.5 2498 8
37 Churchill Downs Detached $460,000 3 2.5 2372 8
5300 Dawn Ave Detached $479,500 4 3 2544 180
13753 Provincial Hill Dr Detached $479,900 3 2.5 1935 4
17573 Blue Heron Ct Detached $540,000 4 3 2401 142
1611 Highland Dr Detached $549,000 4 2.5 2675 14
5747 Victoria Ct Detached $569,000 4 2.5 2432 7
16158 Inverurie Rd Detached $619,900 4 2.5 2744 3
17641 Brookhurst Dr Detached $659,000 4 2.5 3386 2
14150 Amberwood Circle Detached $665,000 3 2.5 2500 14
543 2nd St Condo $686,000 2 2.5 1816 69
658 1st St Detached $699,000 5 3.5 3359 3
14183 Taylors Crest Ln Detached $749,999 4 2.5 3624 74
2479 Marylview Ct Detached $769,000 4 3.5 3832 18
1603 Bay View Ln Detached $824,000 4 2.5 3650 57
17230 Fernwood Dr Detached $899,900 4 2.5 2780 56
755 6th St Detached $909,000 4 3.5 4170 181
17643 Kelok Rd Detached $1,074,000 4 2.5 2390 63
16359 Chapin Way Detached $1,250,000 4 3.5 4158 59
1045 Skyland Dr Detached $1,250,000 4 3 3942 2
13710 Knaus Rd Detached $1,995,000 4 4.5+.5 5780 64

Sold (July 21-27, 2014)

Address Type List Price Closed Price Sq Ft CDOM
3101 McNary Pkwy Attached $239,000 $215,000 1894 604
3902 Carman DR Attached $204,900 $242,500 13334 3
60 Greenridge Ct Attached $312,000 $295,000 2296 17
77 Greenridge Ct Attached $300,000 $300,000 2,102 0
5073 West Sunset Dr Attached $364,900 $371,500 1720 5
628 1st St Attached $450,000 $445,000 1776 8
2388 Overlook Dr Detached $525,000 $480,000 2765 65
2103 Ridgewood Rd Detached $583,000 $499,000 1650 88
3033 Westview Circle Detached $900,000 $536,000 5013 254
14412 Meadow Grass St Detached $584,000 $560,000 3259 260
2251 Hillside Dr Detached $598,000 $588,000 3467 34
16673 Ford Pl Detached $709,000 $705,000 3,100 81
630 8th St Detached $995,000 $979,000 2832 132
4333 Haven St Detached $999,900 $979,900 3652 56
4515 West Rd Detached $1,350,000 $1,285,000 5262 4
17471 Cardinal Dr Detached $1,369,000 $1,325,000 3181 10

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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Lease Options

ArtAt least once every year I have someone who wants to look into doing a lease option. It is usually a buyer I am working with, but it can also be a seller.

There are quite a few reasons a person would want to do an lease option. Usually it is because financially their situation will be different a year from now. Perhaps they want to save money for a down payment or they expect to be receiving money that could become a down payment. They need to move now and would really like to just move once: rent today and buy tomorrow.

I am currently working on a property that I represented the seller on who accepted a lease option. It is a very unique situation. Aging parents noticed the house for sale across the street from their daughter and son-in-law. Parents were not certain how their health and their personal situation would look a year ago. They entered into a lease option with my seller to “test the waters” with the house. It has worked out very well for them and they are now buying the house.

For my client, the seller, he appreciated the sound financial standing the buyer was able to demonstrate. In addition, he negotiated a good sales price by being willing to work with the option. He was not living in the house, having already moved. So his circumstances fit the situation as well.

Here is how the option worked. The buyers put down a very large, non-refundable option fee. This fee was paid directly to the seller. So the seller got a nice sum right up front. That option fee is being applied to the price of the house now that the option is being exercised. The buyers moved in and began paying rent. 10% of the rent they have paid for the last year is also being applied to the purchase price now that the option is being exercised. So the seller got money up front and got steady rent for a year. The buyer has already paid a portion of the purchase price through the rent and the option fee. It is coming together pretty smoothly.

However, there is risk. A seller needs legal council before entering into a lease option. That council needs to review his loan documents to see if the “Due on Sale” Clause usually contained in a mortgage can be triggered by a lease option. If it can, and the lender finds out about the option, the lender can call the loan due in full. This could create a bit of a crisis for both the seller who now has to cash out a mortgage,Oswego-Lake and for the buyer who may or may not want to buy the house.

I also think that most of the folks I council about lease options really are not in a position to do one. This is because if the reason for the option is lack of funds today, then they don’t have the means to pay an option fee up front.

My last comment is that a buyer wanting a lease option is probably better off simply finding a rental until they are ready to buy. There are very few sellers willing to do lease options. So finding a home you love, that is also available with a lease option, really narrows your house selection.

Real estate has so many things going on and, yes, lease options are one of them. It may even be something that would fit your current circumstances. Do not hesitate to give me a call if you have any questions.
Dianne, 503-803-6298

Posted on

Market Activity July 7-13, 2014

Here is your Latest Market Data: Last week in Lake Oswego we saw 23 New properties enter the market, 22 move to Pending status, and 15 “Closed”/Sold.

Following is the breakdown according to RMLS:

New on Market (July 7-13, 2014)

Address Type Price BR Bths SF
45 Eagle Crest DR #516 Condo $155,000 1 1 600
16250 Pacific Hwy #55 Condo $269,000 2 2 1305
1400 Parrish St Condo $335,000 3 2.5 1880
16250 Pacific Hwy #76 Condo $345,000 3 2 1761
205 Hidalgo St Detached $499,900 3 3.5 3032
1611 Highland Dr Detached $549,000 4 2.5 2675
1161 Upper Devon Ln Detached $549,000 3 2.5 2265
577 2nd ST #306 Condo $570,000 2 2 1459
4252 Albert Circle Detached $599,000 4 2.5 2842
8 Hidalgo St Detached $599,900 4 3.5 3123
5415 Bay Creek Dr Detached $600,000 3 2.5 3105
18910 Terry Ave Detached $638,800 4 4.5 4290
555 Country Club Rd Detached $639,900 3 2.5 2133
14150 Amberwood Circle Detached $665,000 3 2.5 2500
1116 C Ave Detached $679,000 4 2.5 3611
15001 Twin Fir Rd Detached $679,900 4 3 2664
146 Del Prado St Detached $699,900 3 3 3263
71 Nansen Summit Detached $749,900 4 2.5 3523
2479 Marylhurst Pl Detached $839,000 4 2.5 4281
1525 Maple St Detached $899,000 3 3.5 2815
18224 Bella Terra Dr Detached $1,225,000 4 3.5 4050
13777 Cameo Ct Detached $1,700,000 4 5.5 7300

Pending Sales (July 7-13, 2014)

Address Type Price BR Baths SF DOM
44 Eagle Crest DR #15 Condo $100,000 1 1 798 94
4 Touchstone #62 Condo $158,500 3 2.5 1351 6
45 Eagle Crest DR #100 Condo $215,000 3 2 1537 21
1368 Boca Ratan Dr Attached $257,500 2 2 1611 55
13 Saint Helens Circle Detached $310,880 3 2.5 2022 143
19200 Indian Creek Ave Detached $338,000 3 2 1443 14
3009 Wembley Park Rd Detached $375,000 3 1.5 1763 3
15465 Tanager Dr Detached $379,000 2 2 1535 6
43 Aquinas St Detached $449,000 3 2.5 2138 31
529 2nd ST Condo $450,000 2 2 1339 25
1950 Green Acres Ln Detached $479,000 4 2.5 2659 485
18343 Anduin Terrace Detached $550,000 4 2.5 3000 375
828 5th St Detached $550,000 2 2 1884 10
4581 Trillium Woods Attached $567,890 3 2.5 2211 2
15254 Candlewood Ct Detached $599,000 5 3 2968 126
17033 Chapin Way Detached $639,000 5 2.5 3163 113
13268 Deerfield Ct Detached $649,900 4 2.5 2895 2
17303 Grandview Ct Detached $675,000 4 3.5 3580 49
827 5th St Detached $689,000 3 2 2124 50
654 Ridgeway Rd Detached $825,000 4 2 1795 27
2105 Ridge Pointe Dr Detached $850,000 5 3.5 5513 110
2120 Glenmorrie Dr Detached $1,200,000 4 3.5 4293 124

Sold (July 7-13, 2014)

Address Type List Price Closed Price Sq Ft CDOM
86 Kingsgate Rd B103 Condo $136,500 $129,000 924 55
3956 Carman Dr Attached $199,950 $207,000 1107 10
4296 Sunset Dr Detached $359,000 $369,000 1680 2
1044 Obrien St Detached $387,500 $378,980 1,902 9
2660 Lookout Ct Detached $469,000 $445,000 2565 90
5189 Coventry Ct Detached $514,900 $450,000 1936 104
1858 Southshore Blvd Detached $484,000 $455,000 2068 45
4639 Black Forest Ct Detached $499,000 $499,000 2197 21
1012 Andrews Rd Detached $574,900 $510,000 2143 109
15644 Fieldstone Dr Detached $575,000 $575,000 2588 56
18283 Lothlorien Way Detached $639,500 $610,000 3015 16
4311 Upper Dr Detached $995,000 $940,000 5,051 87
17342 Ridgeview Ct Detached $1,250,000 $1,236,878 4240 294
688 Iron Mountain Blvd Detached $1,299,000 $1,260,000 4143 4
3214 Lakeview Blvd Detached $7,500,000 $3,475,000 5800 1119

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