It is so great to finally be back to longer hours of daylight! It means spring, flowers, and warner weather is on it’s way, but it also gives us more time to look at houses!
Last week’s market activity in Lake Oswego brought 23 new listings, 11 pending sales, and 9 closed sales.
Here are further details regarding last week’s Market Activity:
NEW SALES (Mar 4-10, 2013):
| Address | Type | Price | BR | Bths | SF |
| 208 Ridgeway Rd | Condo | $135,500 | 1 | 1 | 778 |
| 572 S State St | Condo | $149,921 | 2 | 1 | 914 |
| 12623 SW Boones Ferry Rd | Detached | $204,000 | 2 | 2 | 1652 |
| 5860 Lakeview Blvd | Detached | $239,000 | 3 | 1 | 1435 |
| 118 Oak St | Detached | $285,000 | 3 | 1.5 | 1320 |
| 18540 Kristi Way | Detached | $295,000 | 3 | 1.5 | 1254 |
| 15205 Boones Way | Attached | $309,900 | 3 | 2 | 1600 |
| 14414 Orchard Springs Rd | Detached | $369,900 | 4 | 2.5 | 1890 |
| 562 2nd St #10 | Condo | $385,000 | 2 | 2.5 | 1302 |
| 2227 Hillside Dr | Detached | $495,000 | 4 | 3 | 3003 |
| 13276 Deerfield Ct | Detached | $499,000 | 4 | 2.5 | 3066 |
| 1701 Highland Dr | Detached | $499,900 | 4 | 3 | 3126 |
| 2234 Fernwood Circle | Detached | $499,900 | 4 | 3 | 3000 |
| 2830 Park Rd | Detached | $524,900 | 3 | 3.5 | 3115 |
| 1950 Green Acres Ln | Detached | $525,000 | 4 | 2.5 | 2659 |
| 4036 Melissa Dr | Detached | $592,000 | 4 | 3.5 | 3200 |
| 3130 Westview Ct | Detached | $649,000 | 4 | 3.5 | 3900 |
| 18460 Ray Ridge Dr | Detached | $650,000 | 3 | 2.5 | 3241 |
| 5876 Ridgetop Ct | Detached | $719,900 | 4 | 2.5 | 3280 |
| 13639 Twin Creek Ln | Detached | $724,990 | 4 | 2.5 | 3202 |
| 12808 Elk Rock Rd | Detached | $949,000 | 4 | 3.5 | 3718 |
| 1667 Village Park Ln | Detached | $975,000 | 5 | 3.5 | 5027 |
| 752 Lake Shore Rd | Detached | $1,379,000 | 3 | 3.5 | 3389 |
PENDING SALES (Mar 4-10, 2013)
| Address | Type | Price | BR | Baths | SF | DOM |
| 16232 Bonaire Ave | Detached | $279,900 | 4 | 2.5 | 1792 | 3 |
| 3190 Duncan Dr | Detached | $314,900 | 3 | 2.5 | 2401 | 101 |
| 6024 Fernbrook Circle | Detached | $349,900 | 3 | 2 | 1470 | 14 |
| 13005 Princeton Ct | Detached | $399,500 | 3 | 2.5 | 2294 | 141 |
| 1670 Fircrest Dr | Detached | $410,000 | 4 | 3 | 2000 | 121 |
| 600 Maple St | Detached | $445,500 | 3 | 2.5 | 2416 | 121 |
| 3110 Royce Way | Detached | $460,000 | 4 | 2.5 | 2732 | 9 |
| 2464 Marylhaven Pl | Detached | $539,000 | 4 | 2.5 | 2898 | 36 |
| 5322 Langford Ln | Detached | $689,950 | 5 | 3.5 | 3242 | 2 |
| 2094 Summit Dr | Detached | $698,000 | 4 | 3.5 | 3510 | 156 |
| 831 Northshore Rd | Detached | $800,000 | 3 | 2.5 | 2113 | 348 |
SOLD (Mar 4-10, 2013)
| Address | Type | List Price | Closed Price | Sq Ft | CDOM |
| 55 Oswego Summit | Condo | $78,888 | $64,000 | 721 | 246 |
| 517 Laurel St | Detached | $359,900 | $330,000 | 2834 | 10 |
| 921 G Ave | Detached | $420,000 | $430,000 | 1527 | 4 |
| 2709 Orchard Hill Pl | Detached | $440,000 | $440,100 | 2,098 | 6 |
| 4673 Lakeview Blvd | Detached | $500,000 | $492,000 | 2061 | 5 |
| 2927 Tolkien Ln | Detached | $639,000 | $535,000 | 2819 | 220 |
| 17694 Marylbrook Dr | Detached | $559,000 | $550,000 | 2758 | 104 |
| 568 9th St | Detached | $838,950 | $785,000 | 2825 | 759 |
| 1150 Fairway Rd | Detached | $3,795,000 | $3,075,000 | 8724 | 122 |
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
Open Houses 3/10/13
It’s going to be a great weekend with 12 houses being held open on Sunday. Enjoy!
| Address | Type | Price | Bedroom | Bath | Open |
| 118 Oak St | Detached | $285,000 | 3 | 1-Jan | 1 to 3 |
| 14414 Orchard Springs Rd | Condo | $369,900 | 4 | 2.5 | 1 to 4 |
| 4502 Auburn Ln | Attached | $439,900 | 3 | 3.5 | 1 to 4 |
| 1429 Greentree Circle | Detached | $459,500 | 4 | 2.5 | 1 to 4 |
| 4890 Sage Hen Circle | Detached | $484,900 | 4 | 2.5 | 1:30 to 3 |
| 2227 Hillside Dr | Detached | $495,000 | 4 | 3 | 2:30 to 4:30 |
| 16792 Quail Ct | Detached | $548,950 | 3 | 2.5 | 1 to 3 |
| 5533 Fieldstone | Detached | $599,500 | 4 | 2.5 | 1 to 3 |
| 3130 Westview Ct | Detached | $649,000 | 4 | 3.5 | 1 to 4 |
| 4102 Chad Dr | Detached | $672,000 | 4 | 2.5 | 1 to 4 |
| 1222 Glenmorrie Dr | Detached | $699,999 | 4 | 3 | 1 to 4 |
| 1667 Village Park Ln | Detached | $975,000 | 5 | 3.5 | 1 to 3 |
Featured Property
16232 Bonaire Ave
I am super excited to introduce you to my new listing in the Lake Grove neighborhood of Lake Oswego. Here are the stats:
Built in 1961 with a master suite addition that was added in 1985
4 bedrooms, 2.5 baths, the house has a greatroom floorplan and is 1792 square feet.
This house is all on 1 level.
Now here is the highlight and most outstanding feature: this house sits on a HUGE lot that is 75′ wide and 262′ deep. You have space, space, and more space. There is even a horse shoe pit. The lot is not dividable, but rather meant to be enjoyed as a wonderful yard. It is fully fenced.
The price of $279,900 reflects the fact that this house needs work. It still has the original kitchen and baths. It has been a rental for over 20 years and it is just well worn. There are still some single-pane windows, although the gas furnace is just 10 years old.
Let me know if you have questions or would like to make an appointment to see the interior. I’d love to show you this home.
Dianne
Market Activity Feb 18-24, 2013
Lake Oswego had 18 new listings enter the market last week, along with 18 homes that received accepted offers and 9 closed sales. What stood out for me, as I looked through the closed sales, is that 3 of the nine sold over the list price, including the house on Middlecrest that sold $51,000 over the list price. Sounds like aggressive multiple offers likely happened on that property.
Here are further details regarding last week’s Market Activity:
NEWLY LISTED (Feb 18-24, 2013)
| Address | Type | Price | BR | Bths | SF |
| 174 Oswego Summit | Condo | $189,900 | 2 | 2 | 1506 |
| 10 Oriole Ln | Detached | $234,900 | 2 | 2 | 1654 |
| 3269 Phyllis Ct | Detached | $339,900 | 3 | 1.5+.5 | 1711 |
| 6024 Fernbrook Circle | Detached | $349,900 | 3 | 2 | 1470 |
| 17618 Blue Heron Rd | Detached | $399,900 | 4 | 2 | 2250 |
| 4909 Mulholland Dr | Attached | $428,000 | 2 | 2.5 | 2403 |
| 3110 Royce Way | Detached | $460,000 | 4 | 2.5 | 2732 |
| 16621 Graef Circle | Detached | $499,500 | 3 | 1.5 | 2170 |
| 5554 Luce Ln | Detached | $589,900 | 5 | 3 | 3234 |
| 5711 Victoria Ct | Detached | $610,000 | 4 | 2.5 | 2768 |
| 1873 Oak St | Detached | $635,000 | 3 | 2.5 | 3576 |
| 12635 Adrian Ct | Detached | $649,000 | 4 | 2.5 | 2501 |
| 3826 Upper Dr | Detached | $679,000 | 3 | 3 | 3226 |
| 435 8th St | Detached | $699,900 | 3 | 3.5 | 2394 |
| 3315 Cedar Ct | Detached | $744,000 | 4 | 3.5 | 3712 |
| 940 Cumberland Rd | Detached | $799,000 | 4 | 3 | 3062 |
| Ash St | Detached | $1,200,000 | 4 | 3.5 | 3600 |
| 1475 Chandler Rd | Detached | $1,595,000 | 5 | 4.5 | 4561 |
PENDING SALES (Feb 18-24, 2013)
| Address | Type | Price | BR | Baths | SF | DOM |
| 92 Cervantes Cir 11-E | Condo | $104,900 | 2 | 1.5 | 912 | 182 |
| 15275 Boones Way | Attached | $252,000 | 2 | 2 | 1320 | 3 |
| 466 5th St #14 | Condo | $269,731 | 2 | 1.5 | 1092 | 175 |
| 2367 Glenmorrie Dr | Detached | $275,000 | 2 | 2 | 2132 | 273 |
| 2550 Greentree Rd | Detached | $359,900 | 4 | 3 | 2852 | 135 |
| 1659 Oak St | Detached | $364,900 | 3 | 2.5 | 1885 | 62 |
| 5499 Royal Oaks Dr | Detached | $384,900 | 3 | 2 | 1780 | 179 |
| 4857 Sage Hen Way | Detached | $429,000 | 4 | 3 | 2048 | 4 |
| 762 Maple St | Detached | $479,000 | 3 | 2.5 | 2417 | 28 |
| 18343 Deerbrush Ave | Detached | $489,000 | 4 | 2.5 | 2611 | 3 |
| 12926 Rogers Rd | Detached | $565,000 | 4 | 3 | 2276 | 13 |
| 3000 Brookside Rd | Detached | $598,000 | 3 | 2.5 | 1600 | 252 |
| 5088 Woodcrest Ln | Detached | $599,900 | 4 | 2.5 | 3056 | 199 |
| 5028 Woodcrest Ln lot 14 | Detached | $618,888 | 4 | 2.5 | 3063 | 218 |
| 6135 McEwan Rd | Detached | $649,900 | 2 | 1 | 1104 | 636 |
| 5064 Woodcrest Ln lot 11 | Detached | $649,900 | 4 | 2.5 | 3215 | 209 |
| 2065 Lilli Ln | Detached | $695,000 | 5 | 3.5+.5 | 4112 | 116 |
| 3174 Douglas Circle | Detached | $999,000 | 5 | 4.5 | 4600 | 23 |
SOLD (Feb 18-24 2013)
| Address | Type | List Price | Closed Price | Sq Ft | CDOM |
| 5060 Foothills Rd D | Condo | $239,000 | $230,000 | 1252 | 7 |
| 232 Greenridge Dr | Attached | $285,000 | $250,000 | 1492 | 125 |
| 620 Middlecrest Rd | Detached | $219,000 | $270,000 | 884 | 20 |
| 19176 Benfield Ave | Detached | $299,000 | $300,000 | 1538 | 15 |
| 18275 Pilkington Rd | Detached | $329,000 | $345,000 | 2088 | 9 |
| 14598 Wilmot Way | Detached | $369,000 | $365,000 | 1960 | 10 |
| 136 D Ave | Attached | $459,000 | $405,000 | 1754 | 139 |
| 13364 Atwater Ln | Detached | $1,479,000 | $1,250,000 | 5776 | 187 |
| 3917 Southshore Blvd | Detached | $2,150,000 | $1,750,000 | 4657 | 214 |
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
Open Houses 2/24/13
This Sunday there are 20 scheduled open houses in Lake Oswego. Enjoy!
| Address | Type | Price | Bedrooms | Baths | Open |
| 18 Crestfield Ct | Attached | $105,000 | 2 | 1 | 2 to 4 |
| 6024 Fernbrook Circle | Detached | $349,900 | 3 | 2 | 12 to 2 |
| 18903 Terry Ave | Detached | $379,000 | 3 | 2 | 2:30 to 4:30 |
| 13901 Sundeleaf Dr | Detached | $379,900 | 4 | 3 | 12 to 2 |
| 1621 Larch St | Detached | $380,000 | 3 | 2.5 | 12 to 2 |
| 332 4th St | Attached | $399,900 | 2 | 2.5 | 1 to 3 |
| 2215 Fernwood Circle | Detached | $414,500 | 4 | 3 | 1 to 3 |
| 2 Mozarteum Ct | Detached | $417,000 | 3 | 2.5 | 1 to 2:30 |
| 13906 Majestic Ct | Detached | $469,000 | 4 | 3.5 | 1 to 4 |
| 2302 Overlook Dr | Detached | $589,900 | 4 | 2.5 | 11 to 1 |
| 5533 Fieldstone Ct | Detached | $599,500 | 4 | 2.5 | 1 to 3 |
| 5711 Victoria Ct | Detached | $610,000 | 4 | 2.5 | 1 to 3 |
| 720 Maple St | Detached | $649,000 | 3 | 2.5 | 1 to 3 |
| 1579 Bay View Ln | Detached | $659,698 | 4 | 3 | 1 to 3 |
| 4102 Chad Dr | Detached | $672,000 | 4 | 2.5 | 1 to 3 |
| 1985 Country Club Rd | Detached | $699,999 | 5 | 4 | 1 to 4 |
| 831 Northshore Rd | Detached | $800,000 | 3 | 2.5 | 1 to 4 |
| 112 Northshore Circle | Detached | $1,650,000 | 3 | 3.5 | 11 to 4 |
| 1677 Leslie Ln | Detached | $1,840,000 | 4 | 6.5 | 12 to 2 |
Lake Easements
When buying a home in Lake Oswego, you’ll often see mention of easements as a feature of the property. Just what is an easement? Don’t all of the houses in Lake Oswego have easements?
The history of the lake easements go back many years. There was a time, in the early development of neighborhoods in Lake Oswego, when vacant lots were available for purchase on the lake. Developers of neighborhoods would buy a lot and deed it to the entire neighborhood. These “easements” are part of the recorded deeds for these homes and primarily consist of homes built between 1920 and 1970. By the time that the newer neighborhoods were being developed, houses from about 1970 and newer, there were no longer vacant lots on the lake and so easements were no longer being created. So, no, not all houses in Lake Oswego have easements. Having an easement is a special feature of the home that does enhance its desirability to buyers.
What I am discussing here are lake easements, and not the swim parks. Lake Oswego has two swim parks. One on Lakeview Blvd that is operated by the school district, and one on Ridgeway that is operated by Lake Oswego Parks and Recreation.
The lake easements have a variety of amenities. Most have a lawn area with tables for picnics. Some have boat slips and canoe racks. One has a huge enclosure in the middle of which is water trampoline. There is a good deal of variety.
There is usually a waiting list for a boat slip. Space on canoe racks is usually available at the start of the summer season.
Some homes have deeded easements privileges at more than one easement. If you are considering buying a house that has an easement, visit all of them that you may have access to and find the one you like best.
Each easement is managed by its own by laws and a volunteer board of directors. There is a designated person on the board who manages the access. If you have easement rights, contact the appropriate person on the board, pay the annual fee, and obtain a key to the entry of the easement.
If you would like to find out of a particular property has easement privileges, call the Lake Corporation at 503-636-1422.
For specific information about the easements and who to contact to activate use of an easement click here.
It may still be February, but sun and enjoyment of the lake is just around the corner.
Dianne
Market Activity Feb 4-10, 2013
Last week in Lake Oswego there were 10 new listings, 12 houses that went into pending status, and 3 closed sales. I think the short list of closed sales reflects that 45 days ago we were in the midst of the holidays. And with just 10 new listings and 12 pending sales, inventory remains tight.
Here are further details regarding last week’s Market Activity:
NEWLY LISTED (Feb 4-10, 2013)
| Address | Type | Price | BR | Bths | SF |
| 284 Cervantes Circle | Condo | $104,500 | 2 | 2 | 1052 |
| 205 Cervantes #205 | Condo | $130,000 | 2 | 1.5 | 1216 |
| 206 Oswego Summit | Condo | $200,000 | 2 | 2 | 1506 |
| 67 Condolea Terrace | Condo | $300,000 | 3 | 3 | 2373 |
| 18903 Terry Ave | Detached | $379,000 | 3 | 2 | 1458 |
| 12926 Rogers Rd | Detached | $565,000 | 4 | 3 | 2776 |
| 17980 Meadowlark Ln | Detached | $645,000 | 3 | 2.5 | 3252 |
| 17363 Grandview Ct | Detached | $695,000 | 4 | 3.5+.5 | 4218 |
| 5303 Amberwood Ct | Detached | $810,000 | 3 | 2.5 | 3274 |
| 18218 Meadowlark Ln | Detached | $1,695,000 | 5 | 6.5 | 8320 |
PENDING SALES (Feb 4-10, 2013)
| Address | Type | Price | BR | Baths | SF | DOM |
| 47 Eagle Crest Dr #26 | Condo | $74,900 | 2 | 1 | 932 | 521 |
| 21 Greemrodge Ct | Condo | $260,000 | 3 | 1.5+.5 | 1815 | 106 |
| 18816 Longfellow Ave | Detached | $287,500 | 3 | 1 | 1033 | 15 |
| 1449 Greentree Ave | Detached | $299,900 | 4 | 3 | 1696 | 139 |
| 959 Lee St | Detached | $329,000 | 3 | 2 | 2340 | 28 |
| 15721 Boones Way | Detached | $329,000 | 3 | 2 | 1920 | 0 |
| 12 Abelard St | Detached | $339,000 | 4 | 2.5 | 2344 | 6 |
| 17802 Treetop Ln | Detached | $529,000 | 4 | 3.5 | 3655 | 370 |
| 19592 Perch St | Detached | $529,950 | 4 | 2.5 | 2800 | 6 |
| 17065 Tualatin St | Detached | $578,950 | 3 | 2.5 | 2733 | 17 |
| 4767 Dogwood Dr | Detached | $699,999 | 4 | 2.5 | 3964 | 495 |
| 4033 Westbay Rd | Detached | $1,195,000 | 4 | 3.5 | 3691 | 30 |
SOLD (Feb 4-10 2013)
| Address | Type | List Price | Closed Price | Sq Ft | CDOM |
| 17 Condolea Dr | Condo | $350,000 | $338,000 | 2198 | 197 |
| 1172 Troon Rd | Detached | $599,000 | $539,000 | 2504 | 220 |
| 1572 Highland | Detached | $334,500 | $334,500 | 1950 | 6 |
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
Open Houses for 2/10/13
Lots and lots of houses to see this weekend. There are 25 on the open house tour this Sunday. Enjoy.
| Address | Type | Price | Bedroom | Bath | Open |
| 1830 SW cloverleaf Rd | Detached | $348,000 | 5 | 2-Jan | 1 to 3 |
| 15495 Tanager Dr | Detached | $399,900 | 4 | 2.5 | 1 to 3 |
| 13005 Princeton Ct | Detached | $413,000 | 3 | 2.5 | 1 to 4 |
| 2215 Fernwood Circle | Detached | $414,500 | 4 | 3 | 1 to 3 |
| 17417 Warren Ct | Detached | $449,900 | 4 | 2.5 | 1 to 4 |
| 4890 Sage Hen Circle | Detached | $499,900 | 4 | 2.5 | 1 to 3 |
| 17802 Treetop Ln | Detached | $529,000 | 4 | 3.5 | 1 to 3 |
| 15950 Parker Rd | Detached | $562,500 | 4 | 2.5 | 1 to 3 |
| 12926 Rogers Rd | Detached | $565,000 | 4 | 3 | 1 to 3 |
| 15655 Fieldstone Dr | Detached | $589,500 | 4 | 2.5 | 1 to 3 |
| 13059 Amber Pl | Detached | $589,800 | 5 | 3 | 1 to 3 |
| 12424 Orchard Hill Rd | Detached | $589,950 | 3 | 3 | 1 to 4 |
| 5533 Fieldstone Ct | Detached | $599,500 | 4 | 2.5 | 1 to 3 |
| 1015 Southshore Blvd | Detached | $638,500 | 4 | 3 | 2 to 4 |
| 720 Maple St | Detached | $649,000 | 3 | 2.5 | 1 to 3 |
| 1579 Bay View Ln | Detached | $649,000 | 4 | 3 | 1 to 3 |
| 4102 Chad Dr | Detached | $672,000 | 4 | 2.5 | 1 to 3 |
| 17363 Grandview Ct | Detached | $695,000 | 4 | 3.5+.5 | 12 to 3 |
| 5501 Rachel Ln | Detached | $749,748 | 4 | 2.5+.5 | 1 to 3 |
| 1255 Andrews Rd | Detached | $785,000 | 6 | 4 | 1 to 3 |
| 280 E Ave | Detached | $799,000 | 4 | 2.5 | 11 to 2 |
| 15150 Glen Eagles Ct | Detached | $799,900 | 3 | 2.5+.5 | 2 to 4 |
| 831 Northshore Rd | Detached | $800,000 | 3 | 2.5 | 1 to 4 |
| 329 10 St | Detached | $939,990 | 4 | 2.5 | 1 to 3 |
| 112 Northshore Circle | Detached | $1,650,000 | 3 | 3.5 | 11 to 4 |
Looking Ahead at 2013
Every winter the various title companies bring in economists to forecast what the coming year is going to look like, and every year I make it a point to attend at least one of these presentations. I gotta tell you, for the last 5 years, it’s been painful. Doom and gloom and hang onto your coat tails cause it’s gonna be a wild ride. What a breath of fresh air it was two weeks ago to go to the economic outlook program put on by WFG National Title.
The guest speaker was Patrick Stone, the President and CEO of Williston Financial Group. I am not going to quote Mr. Stone directly as my note taking was not done verbatim. I am going to instead share with you the general idea of what I took away.
First, after the recession, as a country and as individuals, we are well positioned for economic growth. This is because the recession allowed us to restructure out debt to get rid of it and to refinance it at a lower cost. This has created more liquid assets for both consumption and savings.
Second, as a state, Oregon is uniquely positioned to do even better than the national average.
GDP for the state of Oregon was second only to North Dakota, growing at 4.7%. This was attributed to Oregon’s manufacturing sector which is quite a bit stronger than the National average.
The prediction was made that we should see continued economic growth this year and into the next few years. Bear in mind that this could change if something horrible happens such as a terrorist attack or a huge natural disaster.
Mr. Stone went so far as to suggest that our housing recovery will likely recoup the house values lost to the recession by 2016. That would mean a 20% growth in house values in the next 3 years. Personally, I feel that momentum is happening. Will it sustain? I hope so.
Mr. Stone also talked about a future housing shortage. This would happen because of our strict land use laws that make the development of new land for new construction a slow process. To have lots for new homes in 2015, that land needs to be in the development process now. And not much bare land is currently in that process. Builders suffered in the recession and just have not been positioned to have the resources to invest in land development. That is changing. New housing starts are on the rise and the builders are beginning to prosper.
The long and short of it is that with a low supply of land and a growing economy, there will likely be a housing shortage in the future. Economics 101 is about supply and demand. Low supply combined with high demand is what causes prices to go up.
No, I don’t have a crystal ball. Yes, I may be entirely wrong. But based upon what I heard at this year’s economic forecast session, 2013 should be a good year for the real estate market and that positive growth is likely to continue into the years ahead.
I sure hope so. We all deserve some good news.
Dianne
Market Activity Jan 21-27, 2013
Last week in Lake Oswego we had 17 houses come onto the market, 18 houses receive accepted offers, and 9 closed sales.
Here are further details on last week’s Market Activity:
NEWLY LISTED (Jan 21-27, 2013)
| Address | Type | Price | BR | Bths | SF |
| 18 Crestfield Ct | Condo | $105,000 | 2 | 1 | 923 |
| 245 Cervantes | Condo | $110,000 | 2 | 2 | 1265 |
| 16250 Pacific Hwy #79 | Condo | $125,000 | 1 | 1 | 859 |
| 5060 Foothills Dr | Condo | $239,000 | 2 | 2 | 1252 |
| 1287 Boca Ratan Dr | Condo | $275,000 | 3 | 2 | 1670 |
| 2256 Glenmorrie Dr | Detached | $325,000 | 3 | 2 | 1628 |
| 497 Livingood Ln | Detached | $390,000 | 3 | 2.5 | 2144 |
| 4917 Mulholland Dr | Attached | $420,000 | 2 | 2.5 | 2403 |
| 2709 Orchard Hill Pl | Detached | $440,000 | 3 | 2 | 2098 |
| 762 Maple St | Detached | $479,000 | 3 | 2.5 | 2417 |
| 2464 Marylhaven Pl | Detached | $539,000 | 4 | 2.5 | 2898 |
| 13536 Streamside Dr | Detached | $649,000 | 4 | 3.5 | 2857 |
| 17393 Grandview Ct | Detached | $659,900 | 4 | 3.5 | 3672 |
| 13315 Hidden Bay Ct | Detached | $700,000 | 5 | 2.5 | 3671 |
| 2860 Upper Dr | Detached | $768,950 | 5 | 3.5 | 3768 |
| 15150 Glen Eagles Ct | Detached | $799,900 | 3 | 2.5+.5 | 2839 |
| 17340 Cardinal Dr | Detached | $885,000 | 4 | 3 | 3417 |
PENDING SALES (Jan 21-27, 2013)
SOLD (Jan 21-27 2013)
| Address | Type | List Price | Closed Price | Sq Ft | CDOM |
| 5195 Firwood Rd | Detached $251,000 | $251,000 | $196,000 | 1886 | 246 |
| 1237 Hallinan Circle | Detached $251,000 | $269,900 | $258,000 | 1284 | 4 |
| 4231 Woodside Circle | Attached | $298,500 | $267,500 | 1943 | 174 |
| 4150 Upper Dr | Detached $251,000 | $329,000 | $285,000 | 1738 | 27 |
| 6474 Frost St | Detached $251,000 | $347,500 | $310,000 | 2216 | 110 |
| 36 Nova Ct | Detached $251,000 | $360,000 | $352,500 | 2,256 | 20 |
| 4360 Upper Dr | Detached $251,000 | $415,000 | $405,000 | 2434 | 20 |
| 15225 Candlewood Ct | Detached $251,000 | $469,900 | $430,000 | 2758 | 239 |
| 18175 Pilkington Rd | Detached $251,000 | $574,900 | $602,500 | 3164 | 13 |
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