Dianne Gregoire – Page 61 – Property Blotter

August 11, 2013

2013 Street of Dreams

The 2013 Street of Dreams is just outside of Lake Oswego off of Rosemont Road. It runs until August 25th from 10am to 9pm, daily. Admission is $15.

The last 5 years the Street of Dreams barely had a pulse. Builders simply did not have the resources to build spec houses (built without having obtained a buyer, so speculative) that were over-the-top expensive. In addition, the market for million dollar homes was soft. This created a down-sized Street of Dreams experience with fewer homes and less expensive homes.

Well, the real estate market is back, big time. Evidence of this is the fact that this year’s Street of Dreams has 9 houses, all around $2,000,000, and 7 of the 9 houses have already sold. Demand is obviously high for luxury, high-end homes. This is your chance to see these amazing houses, get your own ideas, and see what $2,000,000 will buy.

Tried and True
Luxury homes do have an effect on standard housing. By standard, I mean homes in price ranges that more of the population can afford. Standard homes may be smaller, but they still have some of the features that are first seen at the show-case home tours. Several trends remain strong:
*Great room floor plans that allow big, open spaces for living and entertaining
*Luxury baths and kitchens with top-of-the-line granite, tile, and stainless steel
*Backyard entertaining areas, often covered, to allow interior and exterior spaces to blend
*Heavy use of stone, slate, granite, and natural materials

New Trends
Being homes at the high-end of values, I expect there to be some interesting trends. Here are just a few:
*Wet bars are everywhere. One house had 4 wetbars, in addition to the main kitchen. The difference between a wetbar and a kitchen is that the wetbar has some components of a kitchen, but not all. So it likely has a refrigerator and a sink, but not a cooktop or range. House #1 on the tour has 4 wetbars: dining room, great room, back yard and the master bedroom.
*Kitchens and baths are back to black, white, and shades of gray. No earth toned colors in any granite in any house on the tour. Many cabinets are white or painted gray rather than natural wood that has been so popular for the last 10 years.
*Walls of windows that can be opened or folded back to really expose the interior of the house to the back yard
* Swimming pools. Two of the houses had just spectacular back yards with swimming pools.
* Secret rooms. One house has a pantry that looks like kitchen cabinets. You don’t know it’s a door until you push it open. Another house has a secret passage (disguised as built-in shelves) that leads to a staircase to a 2nd-floor retreat.
* Second refrigerators in the pantry. Such a good idea.
* Craft areas in the laundry room and even on their own. House #5 had two entries from the garage. One came through a HUGE laundry room and the other came through a room that was equipped for art and hobbies. It was just incredible. There was a huge work station in the middle, a potter’s wheel and kiln to one side, and walls of organizational cubbies and shelves for every manner of supplies.
* Hard wood floors have rough/non-shine surfaces.

The Good, The Bad, and The Ugly
* Two houses have Kitchens off of kitchens. This is in addition to having walk-in pantries. These kitchens have the ability to handle some serious cooking, baking, and entertaining. Just amazing.
* Barn wood is everywhere: on walls, on counter tops (yes, on counter tops), on doors, just everywhere. Nearly every house has what I call a sliding barn door. It is a door hung on a rail that slides along the wall. Made of heavy wood with heavy steel hardware, I am just not sure what to think of this trend. It is interesting to look at, and even functional in a few situations, but mostly I think it’s a fad. Five years from now these heavy doors will be screaming “This house was built in 2013!”
* These houses are all built by the areas leading builders. They are gorgeous and stylized. But even in this circumstance there are a couple of homes that fall flat. The colors seem off with dark cabinets, the tile choice seems average, they are nice homes, but just not in the running with the quality of the better homes on the tour.

My favorite idea? The recycling shoot that is in the pantry of one house. Open a little door and drop your recycling down a shoot that ends in the rolling recycling cart in the garage. How brilliant is that?

The Street of Dreams is great fun and this year’s tour does not disappoint. How often do you get inside of such spectacular real estate? Now is your chance. I highly encourage you to attend.
Dianne

July 30, 2013

Market Activity July 22-28, 2013

Last week in Lake Oswego there were 25 new listings, 19 pending sales, and 26 Closed sales. Among the closed sales was the house on Furnace St that the City purchased a few months ago to create an easement for a pedestrian path along the Willamette River. The house sold for $50,000 less than the city paid for it prior to creating the easement. I love that path and I am excited to see its continuation.
Here is the breakdown of activity according to RMLS:

NEW SALES (July 22-28, 2013):

Address	Type	Price	BR	Bths	SF
100 Kerr Pkwy #41	Condo	$105,000	2	1.5	822
750 1st St A7	Condo	$164,900	2	2	1350
668 McVey Ave #82	Condo	$172,000	2	1.5	992
45 Eagle Crest Dr $522	Condo	$219,900	3	2	1348
18717 Pilkington Rd	Detached	$240,000	3	1.5	1240
4328 Botticelli St	Condo	$259,900	2	2.5	2260
6241 Wayzata Ct	Detached	$279,000	3	1	1232
46 Greenridge Ct	Condo	$295,900	3	2.5	2136
6025 Kenny St	Detached	$314,900	3	1.5	1254
765 Maple St	Detached	$359,900	3	2	1998
5051 Sunset Dr	Attached	$375,000	2	2.5	1734
26 Briarwood Rd	Detached	$425,000	4	2.5+.5	2554
16838 Wight Ln	Detached	$469,500	4	2.5	2364
17940 Meadowlark Ln	Detached	$499,000	5	3	2508
13378 Peters Rd	Detached	$549,000	3	2.5+.5	2355
1292 Hida A Way Ln	Detached	$550,000	4	2.5	2229
98 Garibaldi St	Detached	$550,000	3	2.5	3713
1535 Larch St	Detached	$575,000	4	3	2712
11 Masaryk St	Detached	$619,900	5	4	4823
13432 Rogers Rd	Detached	$675,000	3	2.5	3454
13561 Goodall Rd	Detached	$699,000	4	2	2484
14920 Twin Fir Rd	Detached	$739,000	3	1.5	1530
4393 Sundew Ct	Detached	$799,900	3	2.5	4881
13537 Fielding Rd	Detached	$995,000	4	3.5	4188
2675 Glen Eagles Rd	Detached	$1,995,000	5	5	5609

PENDING SALES (July 22-28, 2013)

Address	Type	Price	BR	Baths	SF	DOM
44 Eagle Crest Dr #29	Condo	$134,900	1	1	798	34
44 Eagle Crest Dr #3	Condo	$139,900	3	2	1085	52
45 Eagle Crest Dr #119	Condo	$179,900	3	2	1348	114
13 Erasmus St	Attached	$215,000	2	2.5	1434	87
4458 Thunder Vista Ln	Condo	$225,000	2	2.5	2200	36
4260 Southshore Blvd	Detached	$299,900	2	2	1268	87
4 Saint Helens Circle	Detached	$319,900	3	2	1617	6
1505 Ivy Ct	Detached	$350,000	4	2.5	2656	5
4730 Firwood Rd	Detached	$350,000	4	2	2124	6
4779 Heritage Ln	Detached	$414,900	3	2	2121	26
17859 Hillside Way	Detached	$417,000	5	3	3926	11
14071 Sundeleaf Dr	Detached	$449,900	5	3	2600	28
18442 Deerbrush Ave	Detached	$479,000	4	2.5	2550	40
2195 Glenmorrie Ln	Detached	$534,900	3	2	2461	47
12991 Sierra Ct	Detached	$569,900	3	2.5	2544	58
2744 Tolkien Ln	Detached	$649,900	4	3	3888	3
19201 Maree Ct	Detached	$659,000	5	2.5	4070	101
716 Lakeshore Rd	Detached	$750,000	3	2	1878	0
1131 Northshore Rd	Detached	$1,280,000	4	3	3850	57

SOLD (July 22-28, 2013)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
47 Eagle Crest Dr #55	Condo	$62,000	$59,000	672	8
47 Eagle Crest Dr #30	Condo	$64,900	$60,000	666	168
44 Eagle Crest Dr #17	Condo	$70,000	$74,000	798	10
4654 Lower Dr A2	Condo	$100,000	$95,000	1,206	563
4 Touchstone #147	Condo	$165,000	$154,250	1351	6
4417 Thunder Vista Ln	Condo	$192,600	$173,000	1455	116
4105 Jefferson Pkwy	Condo	$215,000	$215,000	1359	11
12826 Boones Ferry Rd	Condo	$269,900	$260,000	1136	17
5895 Burma Rd	Detached	$334,900	$312,500	1781	72
1685 Mapleleaf Rd	Detached	$349,900	$330,000	1426	39
19135 Redwing Ct	Detached	$320,000	$335,000	1326	4
18740 Wood Duck Circle	Detached	$489,000	$485,000	2535	8
47 Hillshire Dr	Detached	$519,000	$512,500	2963	5
18183 Westminster Dr	Detached	$558,000	$533,500	3066	50
15988 White Oaks Dr	Detached	$575,000	$537,600	2854	34
13005 Rogers Rd	Detached	$569,900	$538,000	2,917	55
14130 Gabrielle Ct	Detached	$589,000	$579,000	2877	12
720 Maple St	Detached	$619,000	$610,000	3966	483
1541 Maple St	Detached	$699,900	$652,000	33215	46
1985 Country Club Rd	Detached	$699,999	$700,000	3630	336
2643 Rivendell Rd	Detached	$727,000	$715,000	3466	4
2896 Tolkien Ln	Detached	$749,000	$724,000	5180	15
17797 Marylcreek Dr	Detached	$775,000	$745,000	3220	10
455 Furnace St	Detached	$1,170,000	$1,140,000	4000	60
15567 Village Dr	Detached	$1,295,000	$1,250,000	5247	12
18210 Crestline Dr	Detached	$1,600,000	$1,493,000	3725	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

July 27, 2013

Open Houses 7/28/13

There are 30 houses being held open in Lake Oswego this Sunday. It will be a great tour!

Address	Price	Type	Bedroom	Bath	Open
4458 Thunder Vista Ln	$225,000	Condo	2	2.5	1 to 4
4302 Botticelli St #2	$235,000	Attached	3	3.5	1:30 to 4
5056 Foothills DR D	$239,900	Condo	2	2	1 to 3
16291 Lake Forest Blvd	$244,950	Detached	2	1	1 to 3
12808 Boones Ferry Rd	$279,000	Attached	3	2.5	1 to 3
6241 Wayzata Ct	$279,000	Detached	3	1	1 to 4
5195 Firwood Rd	$379,000	Detached	3	3	1 to 4
4200 Westbay Rd	$399,000	Detached	2	1	1 to 4
1 Hidalgo St	$448,500	Detached	3	2.5	1 to 3
1250 Hemlock St	$449,950	Detached	5	2	1 ro 4
4890 Sage Hen Circle	$474,900	Detached	4	2.5	12:30 to 2
1501 Koawood Dr	$499,000	Detached	4	3	2 to 4
2401 Glen Haven Rd	$575,000	Detached	5	3	1:30 to 3:30
1535 Larch St	$575,000	Detached	4	3	1 ro 4
5555 Fieldstone Ct	$579,500	Detached	3	2.5	2 to 4
246 Greenwood Rd	$589,900	Detached	3	3	1 to 3
18453 Tamaway Dr	$609,900	Detached	4	2.5	1 to 3
11 Masaryk St	$619,900	Detached	5	4	2:30 to 4:30
2478 Marylview Ct	$679,900	Detached	5	3	1 to 3
208 Northshore Rd	$685,000	Detached	5	3	1 to 4
5267 Lakeview Blvd	$724,900	Detached	4	3.5	1 to 3
5900 Suncreek Dr	$749,000	Detached	5	2.5	2 to 4
16805 Scott Ct	$868,000	Detached	4	3.5	2 to 4
878 7th St	$889,500	Detached	4	3.5	1 to 3
18024 Skyland Circle	$969,000	Detached	3	3.5+.5	1 to 4
13537 Fielding Rd	$995,000	Detached	4	3.5	1 to 4
752 E Ave	$1,098,950	Detached	3	3	1 to 4
13310 Atwater Ln	$1,395,000	Detached	5	4	1 to 3
1475 Chandler Rd	$1,485,000	Detached	5	4.5	1 to 5
112 Northshore Circle	$1,560,000	Detached	3	3.5	11 ro 4

July 25, 2013

Sweet Sounds of Summer

Summer is a full and rich time of year. I know it schedules out hard and heavy and I really have to prioritize what I want to do. So it’s easy to miss something here or there. This is one thing that you do not want to miss. Make an effort and take advantage of the LO Summer Concert Series. They are free and they are wonderful.

Curtis Salgado performed last night at Foothills Park. Children were the early dancers, but it did not take long for the full crowd to get involved. Curtis Salgado is internationally recognized. He was awarded the 2013 BB King Entertainer of the year award. He was John Belushi’s inspiration for the Blues Brothers. This is seriously great entertainment, and its FREE.

The next concert coming up will be July 28th, this Sunday, at Millennium Plaza Park, 6:00-7:30. Scott Cossu, a well-known, new-age pianist will be performing. His music is a blend of jazz, classical, and ethnic. It is bound to be good.

Then next Wednesday, July 31st from 6:30-8:30, Five Guys Named Moe will be performing at Foothills Park. This is a 12-piece show band with a huge horn section, back-up vocals, and strong lead singers. It sounds like the kind of band that makes you get onto your feet and move.

There is just something about live music on a summer evening. You can not help but smile and feel like this is what it is all about. I’ve got to share something so sweet, something so special, it really captures what I am trying to say here. At last night’s concert I saw a man wheel his wife in to the park in a wheel chair. As the music got going, he would lift her to her feet where she could stand, then, holding her hands between them, they danced. Smiling from ear to ear, they had a great time.

This is summer at its best. Don’t let it pass you by!
Dianne

July 17, 2013

Market Activity July 8-14, 2013

Last week in Lake Oswego there were 20 new listings, 33 pending sales, and 16 closed sales.
Here is the breakdown of activity according to RMLS:

NEW LISTINGS (July 8-14, 2013):

Address	Type	Price	BR	Bths	SF
200 Oswego Summit	Condo	$145,000	2	2	1383
45 Eagle Crest Dr #401	Condo	$199,500	3	2	1348
5966 Washington Ct	Detached	$229,000	3	1.5	1445
1484 Boca Ratan Dr	Attached	$229,900	3	1.5	1403
668 McVey Ave #45	Condo	$246,400	2	1	836
791 Briercliff Ln	Detached	$374,900	3	2.5	1736
1250 Hemlock St	Detached	$449,950	5	2	2656
246 Greenwood Rd	Detached	$589,900	3	3	1899
2103 Ridgewood Rd	Detached	$599,000	3	2	1648
1981 Summit Dr	Detached	$647,500	3	2.5	2579
5670 Charles Circle	Detached	$650,000	4	2.5	3070
19364 River Run Dr	Detached	$679,000	5	3.5	3010
17632 Woodhurst Pl	Detached	$724,900	5	4.5	4423
5267 Lakeview Blvd	Detached	$724,900	4	3.5	3454
4540 Lamont Way	Detached	$899,950	4	2.5	3555
622 Carrera Ln	Detached	$995,000	4	4.5	5446
735 7th St	Detached	$999,999	3	3.5	2945
13801 Knaus Rd	Detached	$1,198,000	4	2	2420
14005 Goodall Rd	Detached	$1,350,000	4	3.5	4825
1345 Cherry Ln	Detached	$1,499,000	4	3.5	5259

PENDING SALES (July 8-14, 2013)

Address	Type	Price	BR	Baths	SF	DOM
68 Galen	Condo	$110,000	2	1	923	40
4105 Jefferson Pkwy	Condo	$215,000	2	2.5	1359	11
6 The Grotto	Detached	$309,900	3	2	1381	14
14854 Twin Fir Rd	Detached	$310,000	3	2	1287	4
5895 Burma Rd	Detached	$334,900	4	2.5	1781	72
4700 Lower Dr	Detached	$339,000	3	2.5	1747	147
540 2nd St	Condo	$359,900	2	2.5	1520	18
16200 Terrace Dr	Detached	$400,000	3	2	2085	2
15509 Frost Ln	Detached	$449,900	4	2.5	2364	77
31 Walking Woods Dr	Detached	$450,000	4	3	2889	19
303 Lake Bay Ct	Detached	$459,900	3	2.5	1560	68
732 Clara Ct	Detached	$460,000	4	3.5	2935	104
1440 Greentree Circle	Detached	$469,900	4	3	2488	3
207 Evergreen Rd	Attached	$470,000	3	3.5	1789	3
9 Bernini Rd	Detached	$495,000	3	2.5	3166	18
13520 Knaus Rd	Detached	$575,000	4	3	2641	2
12 Juarez St	Detached	$579,000	4	3.5+.5	3735	26
4755 Avery Ln	Detached	$599,000	4	2.5	2735	1
19305 Riverwood Ln Lot 1w	Detached	$609,654	4	4	3110	0
19318 Riverwood Ln Lot 8w	Detached	$611,451	5	4	3110	0
17766 Marylcreek Dr	Detached	$639,000	4	3.5	4472	1110
4076 Orchard Dr	Detached	$699,500	4	3.5	3991	10
17692 Woodhurst Pl	Detached	$775,000	4	2.5	3890	24
5507 Bay Creek Dr	Detached	$799,900	5	3.5	3900	40
14100 Taylors Crest Ln	Detached	$819,000	4	2.5	4087	43
15559 Village Dr	Detached	$900,000	4	2.5	3458	0
642 8th St	Detached	$949,900	4	2.5+.5	3293	220
5320 Childs Rd	Detached	$949,950	5	3	4539	107
12700 Fielding Rd	Detached	$997,500	3	3	3025	115
792 5th St	Detached	$1,195,000	4	4.5	4379	21
17809 Kelok Rd	Detached	$1,249,000	5	3.5	3700	22
17618 Crestline Dr	Detached	$1,295,000	4	3.5+.5	6317	119

SOLD (July 8-14, 2013)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
4 Touchstone Dr #146	Condo	$108,000	$105,150	979	15
4043 Jefferson Pkwy	Condo	$165,000	$155,000	1182	31
5225 Jean Rd #108	Condo	$179,000	$170,000	1500	16
8 Weatherstone	Condo	$309,000	$309,000	1,692	2
6024 Fernbrook Circle	Detached	$344,900	$344,500	1470	97
1257 Hallinan Circle	Detached	$375,000	$380,000	2548	24
18357 Heather Ann Ct	Detached	$399,900	$403,000	1832	58
18207 Westminster Dr	Detached	$489,000	$485,000	2258	9
3500 Lanewood St	Detached	$499,900	$525,000	2217	3
17485 Brookhurst Dr	Detached	$749,500	$730,000	4550	37
15508 Diamond Head Rd	Detached	$1,095,000	$815,000	3715	264
19371 SW Riverwood Ln	Detached	$1,120,000	$875,600	5048	244
740 7th St	Detached	$995,000	$995,000	5431	0
16545 Maple Circle	Detached	$1,395,000	$1,325,000	3800	233
1607 Lakefront Rd	Detached	$1,649,000	$1,500,000	4012	376
910 Northshore Rd	Detached	$3,595,000	$3,250,000	5,203	366

July 10, 2013July 10, 2013

Buying Pointers

Your home is likely the single biggest purchase you will ever make. You want to do it right. You want to find the right house, at the right price, and experience the best deal possible. Of course as a Realtor I am going to suggest that you use a Realtor, but I actually have thoughts beyond that that I thought I would share with you.

Get Pre-Qualified
Use a good reputable lender who will tell you what you can afford. This accomplishes two things: you know you are looking at houses that you can actually buy, and it gives you strength in negotiating. With out a letter stating that you are pre-qualified, a person selling real estate will not take you seriously.

Check your thinking
Buying a home is a pretty personal experience. You end up sharing extremely personal information with your lender and your Realtor. It takes a good deal of your time, which makes the rest of your life more stressful. Knowing this, here are my pearls of wisdom:

1. Be honest with everyone up front. If you have credit problems, tell your lender and let him/her help you to fix them. If you hate day-light basement homes, tell your Realtor so that he/she doesn’t waste your time showing them to you. Communication is king!

2. Be prepared to jump quickly when a good house comes onto the market. If it’s a nice house that is well priced, you won’t be the only person who wants it. These nice houses are currently selling fast. Your Realtor is not trying to pressure you when they tell you there are other offers or that they are of the opinion that there will be other offers. This is the current market. So be prepared to make decisions quickly.

3. Do a thorough home inspection. Today it is common to video scope the sewer line and test for radon, along with the standard full-house inspection. If it’s an older home, ask about previous in-ground oil tanks. If the seller has no knowledge, have the yard scanned for a tank. Know your options about inspections by visiting http://www.oregonfirst.com/buyer_advisory

4. Be patient with your loan officer. A good loan officer is much like a coach. They collect all of the information from you that they anticipate you needing to be approved by the bank’s underwriter, then they throw you into the game. Sometimes, well, actually lots of times, the underwriter throws your file back to the loan officer and asks for more data. It is aggravating as all get out, but all of the banks are doing it. It is not your loan officer picking on you. They are working very hard to get you your loan.

5. Don’t make any purchases on credit while in escrow. Your credit and employment will both be checked again just before closing. Any major changes could put everything on the skids. I had a sale get delayed by 3 weeks because the buyer went to a large retail store and maxed out a credit card on new stuff for the house. It took 3 weeks to pay off the new balance and get the credit score back up to a number that final underwriting would approve.

6. Be flexible with the closing date. Everyone is working towards the same goal of completing the purchase, but everything is just taking longer. It feels to me like lenders are working right up until the target closing date and then not giving title companies enough time to get everyone signed. Most transactions are closing 1-7 days late. So if you have lined up your moving truck and have all your stuff in the driveway, it’s going to be stressful. Build in a buffer, if you can. Arrange to stay in your current housing for about a week following the target closing date. This will save you lots of stress and, if it closes right on time, give you time for a leisurely move.

7. Go to http://www.oregonfirst.com/buyer_advisory you’ll find info on so much more than I have covered here. It is a great resource.

I hope you find this helpful. Don’t hesitate to contact Linda or myself if you have questions. As always, we love what we do and we are here to help.
Dianne

July 4, 2013July 5, 2013

Market Activity June 24-30, 2013

Along with our heat wave, last week brought us a sizzling real estate market. 24 new listings, 21 pendings sales, and 21 closed sales, it’s feeling a lot like summer.
Here is the breakdown of activity according to RMLS:

NEW LISTINGS (June 24-30, 2013):

Address	Type	Price	BR	Bths	SF
47 Eagle Crest Dr #55	Condo	$62,000	1	1	672
172 Oswego Summit	Condo	$99,900	2	2	1383
44 Eagle Crest Dr #29	Condo	$134,900	1	1	798
4204 Woodside Circle	Attached	$269,900	2	2	1308
18420 Don Lee Way	Detached	$275,000	3	1	924
6 The Grotto	Detached	$309,900	3	2	1381
16624 Roosevelt Ave	Detached	$330,000	2	2	2802
540 2nd St	Condo	$359,900	2	2.5	1520
31 Oriole Ln	Detached	$375,000	3	3	1968
4200 Westbay Rd	Detached	$419,000	2	1	944
15509 Partridge Dr	Detached	$419,900	4	3	2299
4779 Heritage Ln	Detached	$429,000	3	2	2121
1 Hidalgo St	Detached	$448,500	3	2.5	2489
14071 Sundeleaf Dr	Detached	$449,900	5	3	2600
1287 Rockinghorse Ln	Detached	$499,000	3	2	1686
6 Hillshire Dr	Detached	$519,000	5	3	3254
14066 Chatham Ct	Detached	$574,900	5	2.5	2800
5206 Royal Oaks Dr	Detached	$585,000	5	3.5	3038
4860 Hastings Dr	Detached	$645,000	4	2.5	2942
2478 Marylview Ct	Detached	$679,900	5	3	3526
1273 Wells St	Detached	$869,000	4	3	4000
2943 Lakeview Blvd	Detached	$1,095,000	4	3	3794
2135 Ridge Pointe Dr	Detached	$1,275,000	4	4.5+.5	6755
12 Dover Way	Detached	$1,799,900	5	5.5+.5	7658

PENDING SALES (June 24-30, 2013)

Address	Type	Price	BR	Baths	SF	DOM
284 Cervantes Circle	Condo	$104,500	2	2	1052	142
6053 Fernbrook St	Detached	$299,000	3	1	912	18
5311 Chinook CT	Detached	$299,900	3	2	1488	4
85 Laurel St	Detached	$360,000	4	3	2820	49
3554 Tempest Dr	Detached	$399,000	3	2.5	2279	57
13395 Vermeer Dr	Detached	$439,000	4	2.5	2461	7
732 Clara Ct	Detached	$460,000	4	3.5	2935	84
980 Cumberland Pl	Detached	$475,000	3	2	2791	7
4031 Old Gate Rd	Detached	$499,900	4	3.5	3704	348
134 Del Prado St	Detached	$569,000	5	3	3972	21
13210 Deerfield Ct	Detached	$649,900	4	2.5	3341	66
17151 Wall St	Detached	$675,000	5	4	4141	53
2833 Rivendell Rd	Detached	$718,000	4	2.5	3093	17
13680 Knaus Rd	Detached	$749,000	3	2.5	3006	57
17797 Marylcreek Dr	Detached	$775,000	3	4	3220	10
2719 Rivendell Rd	Detached	$799,000	4	2.5	3554	36
3012 Rivendell Rd	Detached	$889,000	5	4.5	4607	71
15508 Diamond Head Rd	Detached	$1,095,000	3	4	3715	264
17900 Crestline Dr	Detached	$1,599,000	5	3.5	4738	212
18210 Crestline Dr	Detached	$1,600,000	3	3	3725	0
693 Terrace Dr	Detached	$1,898,000	4	3	3296	282

SOLD (June 24-30, 2013)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
200 Burnham Rd #400	Condo	$149,000	$100,000	948	652
5881 Fernbrook Circle	Detached	$254,900	$250,000	1416	11
88 Kingsgate Rd	Detached	$299,500	$300,000	1675	8
1425 Greentree Circle	Detached	$339,000	$339,999	1,809	8
19060 Indian Springs Circle	Detached	$359,000	$348,000	1355	47
1288 Rockinghorse Ln	Detached	$382,500	$370,000	1742	111
5745 Windfield Loop	Detached	$369,900	$370,000	1885	22
4241 Chapman Way	Detached	$445,000	$380,000	2440	277
598 Milburn Ct	Detached	$399,900	$390,000	3036	6
1550 Bedford Ct	Detached	$409,000	$404,000	2359	4
31 Nova Ct	Detached	$423,000	$419,000	2106	10
1407 Greentree Circle	Detached	$459,000	$438,000	2201	8
730 Briercliff Ln	Detached	$465,000	$465,000	3275	6
13658 Shireva Dr	Detached	$570,000	$535,000	3502	31
5880 Meadowcreek Ct	Detached	$625,000	$600,000	2905	5
3130 Westview Ct	Detached	$649,000	$620,000	3,900	83
3201 Fir Ridge Rd	Detached	$699,000	$675,000	2571	54
14146 Edenberry Dr	Detached	$725,000	$677,600	3100	35
940 Cumberland Rd	Detached	$799,000	$750,000	3062	71
760 7th St	Detached	$969,000	$940,000	4536	33
13728 Knaus Rd	Detached	$1,025,000	$1,025,000	4041	2

June 29, 2013

Open Houses 6/30/13

It’s a beautiful summer weekend. Perfect for touring some wonderful homes. This Sunday in Lake Oswego there are 24 open houses scheduled. Enjoy!

Address	Price	Type	Bedroom	Bath	Open
4 Touchstone #126	$115,000	Condo	2	2	3 to 5
4458 Thunder Vista Ln	$225,000	Attached	2	2.5	1 to 4
4302 Botticelli St	$245,000	Attached	3	3.5	11 to 2
15205 Boones Way	$299,900	Attached	3	2	12 to 2
31 Oriole Ln	$375,000	Detached	3	3	11 to 1
600 Tippecanoe Ct	$375,000	Detached	3	2	1 to 3
13198 Peters Rd	$434,500	Detached	3	2.5	2 to 6
14071 Sundeleaf Dr	$449,900	Detached	5	3	1 to 3
16933 Greentree Ave	$479,000	Detached	3	2.5	1 to 3
4890 Sage Hen Circle	$479,900	Detached	4	2.5	12 to 2
6192 Harrington Ave	$489,500	Detached	5	3	1 to 3
16907 Cherry Crest Dr	$499,000	Detached	5	3.5	2 to 4
16966 Summer Pl	$525,000	Detached	4	2.5	1 to 3
6 Juarez St	$540,000	Detached	4	3.5	3 to 5
5272 Tualata Ln	$549,000	Detached	4	3	1 to 3
4121 Hedge Nettle Ct	$552,500	Detached	3	2.5	1 to 3
45 Aquinas St	$554,000	Detached	3	2.5	1 to 4
13265 Fox Run	$659,000	Detached	4	2.5	12 to 2
4540 Lamont Way	$919,950	Detached	4	2.5	1 to 3
18325 Crestline Dr	$1,275,000	Detached	5	4	1 to 4
17485 Cardinal Dr	$1,295,000	Detached	4	3.5	1 to 4
17618 Crestline Dr	$1,295,000	Detached	4	3.5+.5	1to 4
853 D Ave	$1,350,000	Detached	4	3.5	2 to 4
112 Northshore Circle	$1,575,000	Detached	3	3.5	11 to 4

June 27, 2013

LO Housing Snap Shot

I get a kick out of looking at statistics. If you have been reading the blotter for a few years, you’ll also know that I like to do a comparison of most expensive in LO versus least expensive. LO is known for expensive, lake-front homes. However, that is not the definition of Lake Oswego real estate. There is actually quite a wide variety of house values in Lake Oswego. With all of this in mind, I decided to put together a reference chart so that you and I can both see the last 8 years market activity, based upon price range.

I took some liberties here. I lumped the expensive inventory into $2,000,000+. I also lumped the less expensive inventory into $100,000-$300,000. In both cases I did this because there just simply isn’t a lot of houses at either extreme of the spectrum. In between I broke it down into $100,000 increments, but for the sake of time, stopped at $700,000. I may go back and look at the $700,000 to $2,000,000, but that would be in another post.

One last liberty that I took: I did a 2013 January to July and then using that number, projected the full year. There are lots of variables that could affect this final number, so this one is pretty speculative.

These are all single-family, detached homes and not condos.

Here is what I found:

Homes Priced $2,000,000 to $30,000,000		Homes Priced $400,000 to $500,000
2013 1st Six Months/Projected	3/6	2013 1st Six Months/Projected	75/150
2012	7	2012	108
2011	4	2011	86
2010	3	2010	86
2009	8	2009	74
2008	3	2008	74
2007	12	2007	112
2006	7	2006	135
Homes Priced $600,000 to $700,000		Homes Priced $300,000 to $400,000
2013 1st Six Months/Projected	40/80	2013 1st Six Months/Projected	70/140
2012	47	2012	125
2011	45	2011	124
2010	39	2010	113
2009	36	2009	105
2008	46	2008	74
2007	69	2007	94
2006	79	2006	94
Homes Priced $500,000 to $600,000		Homes Priced $100,000 to $300,000
2013 1st Six Months/Projected	53/106	2013 1st Six Months/Projected	39/78
2012	92	2012	130
2011	59	2011	111
2010	76	2010	79
2009	51	2009	51
2008	52	2008	12
2007	97	2007	13
2006	97	2006	21

Here are some of my personal observations:

Those $2,000,000+ houses were selling pretty well before the recession with 12 sold in 2007. They dropped off a bit in the recession, but look at 2009. In the depth of the recession more were sold than were sold in 2006, a peak boom year. 2013 we are on track to be about where we were at in 2012. This market feels stable, to me, but not a sellers market by any shape of the imagination.

In the $600,000 to $700,000 range the market demand dropped by 50% from 2006 to 2009. This price range suffered during the recession. My projection for 2013 puts this price range demand right back where it was pre-recession.

The $500,000 to $600,000 range dropped by nearly 50% between 2006 and 2009, but looking at 2012 and at my projection for 2013, the demand for this price range appears to have recovered.

In the $400,000 to $500,000 range there was a 50% drop in demand from 2006 to 2009. My projection for this year puts the demand at 110% of what it was in 2006. This price range is in high demand.

In the $300,000 to $400,000 range the market is pants on fire. In 2006 94 houses sold in this price range, in 2012 125 sold, and my projection for 2013 is 140. The catch here is that prices are going up so this inventory is shrinking. There may not be enough new listings in this range to meet the demand and so the projection I have done will probably be restricted by lack of homes available.

In the $100,000 to $300,000 range there are only 5 properties currently for sale. In 2006 just 21 homes sold for under 300K. I find this part really interesting. Even in this super affordable part of the Lake Oswego market, in the depth of the recession, there was a fall off of demand. 2008 had just 12 houses sold: anemic for sure. Then look at 2009 and 2010. These were the years of the “first-time home buyer incentive” that was part of the Federal stimulus deal. From 2008 to 2009 there was a 400% increase in sales in this price range. In 2012 130 homes were sold in Lake Oswego for under $300,000. This part of the market is a sellers paradise. This year there have been 39 sales. If I projected the same level of demand to the end of the year that would mean 78 sales. The catch? There are only 5 active listings under $300,000. So that is not going to happen. And the reason there were so few sales in 2006 in this price range? It wasn’t because there was a lack of demand. It was because there was a lack of inventory. So this part of the market has recovered very nicely, indeed.

This brings me back to my original curiosity. What is the most and least expensive house currently for sale in LO?

At a modest price of $9,998,000 you can buy a 13,462 square foot, main-lake home. It features 5 bedrooms, 6 full baths, and 2 half baths. Built in 2009 it has every modern amenity you could imagine.

At a slightly more modest price of $225,000 you can buy at 1050 square foot home on a slightly-busy street. It features 3 bedrooms and 1-full bath. Built in 1920 it has a carport and is on a nice sized lot.

I hope you found this enlightening. Statistics can be fun.
Dianne

Author: Dianne Gregoire

Open Houses 8/11/13