Dianne Gregoire – Page 66 – Property Blotter

November 30, 2012

Over the years the ability of a buyer to do a thorough home inspection has vastly improved. Today I regularly recommend that along with a full house inspection, buyers also pay for a sewer scope (sending a camera down the sewer line to inspect for breaks and tree roots) and radon testing (we find it about 30% of the time). Now a new issue has come onto my radar: formaldehyde.

To be honest with you, before writing this post, I did not have a clue what it is. And, also being honest with you, I’m not sure that I completely understand it now. But I do know that it feels like the sort of issue that will become something that I need to have knowledge about so that I can discuss it with the buyers that I represent. So I am working to learn what I can. It’s pretty interesting stuff.

Formaldehyde exists naturally in our environment. It is made up of carbon, hydrogen, and oxygen. So, just like radon, we are all breathing it as we go through our day.

It is also man made. It is widely used in the manufacturing of so many products that to try to list them here would be unrealistic. To get a grasp of the magnitude of how much of it is used, consider that in 2003 it accounted for $145 billion in our economy, or 1.2% of our GDP. It is widely used in the products that are commonly used in the construction of houses. It is found in glues that are used to install carpets. It’s found in paint. It is a primary component of plywood, particle board, and fiber board.

It is measured in ppm (parts per million). Apparently it has a distinct odor that can begin to be smelled at .05 ppm. At .10 ppm it will begin to irritate your eyes and throat. While I did not find anyone making the firm claim that it is a carcinogen, I did find several sources, including the EPA dating back to 1987, calling it a “probable” carcinogen. It seems pretty clear that it’s not a good thing to be breathing this stuff for long periods of time or in heavy doses.

So what can you do?

First, an interesting tidbit. The products in construction of a home give off more Formaldehyde when the home is brand new. An EPA study found that a brand new house gives off .076 ppm on day one. But by day 30 that amount drops to .045 ppm. Also, heat and humidity contribute to the “off gassing” of formaldehyde. For every 10 degrees of temperature increase, the formaldehyde “off gassing” doubles. So perhaps moving into a new home after 30 days, and then keeping the house cool in the summer and not too overly heated in the winter, would be something to take into consideration.

You can also find a builder who uses “exterior grade” pressed wood products that are made with phenol instead of urea resin. It would also make sense, if you can afford it, to splurge on cabinets and flooring made with real wood.

Some good news is that our Federal government passed a law July 7, 2010 that requires that the use of formaldehyde in plywood, particle board and fiberboard not have emissions greater than .09 ppm. This law goes into affect January 1, 2013.

So how do you know if formaldehyde is a problem? Like I said, this issue isn’t really on people’s radar just yet. None of the well-known environmental companies in the area are offering formaldehyde testing. I did find one company, a company I have never used so will not promote, that is offering this test for about $200. I also found several websites that sell test kits for about $100. I’ll let you do your own google search to find them.

In some ways it bothers me that we have now found something else to worry about. But you are going to spend hundreds of thousands of dollars on a house, and then spend years of your time inside of it, it just seems like it’s smart to figure out what is good and not good about it. Because testing is not yet easy to obtain, it likely isn’t going to be commonly done at this point. But I predict it will come into common use as people’s awareness grows.

How do you fix it if you find it? That can be expensive if you are talking about replacing plywood and particle board. I imagine there may be products that can be painted onto surfaces to seal them. Again, this is a new area for me. If the demand is there on behalf of consumers, there is bound to be an industry that rises to meet the demand. I’d be interested in learning of any solutions that you may know of.

In the interest of full disclosure, here are my sources for this information:
www.en.wikipedia.org/wiki/Formaldehyde
www.prohousedr.com/formfact.com
www.epa.gov/oppt/chemtest/formaldehyde/index.html

Thanks for reading,
Dianne

November 20, 2012

Market Activity Nov 12-18, 2012

Last week in Lake Oswego there were 6 New Listings, 16 Pending Sales, and 9 Closed Sales.
See below for further details on last week’s Market Activity:

NEWLY LISTED (Nov 12-18, 2012)

Address	Type	Price	BR	Bths	SF
34 Cervantes Circle 4-F	Condo	$119,500	2	1.5	912
36 Nova Ct	Detached	$360,000	4	2.5	2256
567 2nd St #302	Condo	$555,000	2	2	1459
524 Weidman Ct	Detached	$669,000	4	2.5	3450
5501 Rachel Ln	Detached	$749,888	4	2.5+.5	3509
1943 Indian Trail	Detached	$799,000	3	2.5	2960

PENDING SALES (Nov 12-18,2012 2012)

Address	Type	Price	BR	Baths	SF	DOM
55 Oswego Summit	Condo	$64,000	1	1	721	188
4 Touchstone #113	Condo	$94,900	2	2	1000	5
400 Carman Dr #107	Condo	$119,900	2	2	1032	229
4 Touchstone #116	Condo	$150,000	3	2.5	1351	39
6207 Harrington Ave	Detached	$199,900	3	1	960	3
18807 Kristi Way	Detached	$269,900	3	1.5	1256	6
1180 Hallinan Circle	Detached	$325,000	3	2	1590	0
4328 Galewood St	Detached	$359,000	3	2.5	1781	5
39 Nova Ct	Detached	$399,900	4	2.5	2590	6
17357 Oak Meadow Ln	Detached	$499,000	4	2.5	3274	160
4972 Hampton Ct	Detached	$529,000	5	3.5	3780	68
4994 Hartford Pl	Detached	$539,000	5	2.5	3325	107
17087 Tualatin St	Detached	$564,950	4	2.5	2622	11
1455 Timberline Dr	Detached	$659,900	4	3	3554	336
1918 Indian Trail	Detached	$695,000	3	3	3090	215
1644 Lake Front Rd	Detached	$999,900	4	4	3840	301

SOLD (Nov 12-18,2012)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
364 Cervantes Circle 14-D	Condo	$119,000	$118,500	832	41
64 Touchstone	Detached	Auction	$306,600	3197	92
15144 Boones Way	Detached	$319,900	$315,000	2330	11
663 Carrera Ln	Detached	$459,000	$355,000	2197	68
14353 Holly Springs Rd	Condo	$425,000	$378,000	2238	14
70 Touchstone	Detached	$448,000	$390,000	3,080	397
4909 Mulholland Dr	Attached	$430,000	$411,000	2403	55
1475 Skyland Dr	Detached	$1,098,000	$910,000	3695	543
13900 Goodall Rd	Detached	$1,200,000	$1,025,000	4282	178

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

November 16, 2012

Open Houses for 11/18/12

This coming Sunday will have 11 open houses in Lake Oswego. Kudos to the Realtors who do open houses during the busy holiday season. Please take the time to go and visit any and all of these fine homes.

Address	Type	Price	BR	Baths	Open
16909 Tracy Ave	Detached	$279,950	4	2	1 to 3
36 Aquinas St	Detached	$324,900	3	2	1 to 3
4328 Galewood St	Detached	$359,000	3	2.5	1 to 3
3290 Wembley Park Rd	Detached	$359,900	5	3	1 to 3
36 Nova Ct	Detached	$360,000	4	2.5	1 to 3
4890 Sage Hen Circle	Detached	$499,900	4	2.5	2 to 3
15655 Fieldstone Dr	Detached	$589,500	4	2.5	12 to 3
18096 Pilkington Rd	Detached	$625,000	3	2.5	1 to 3
1015 Southshore Blvd	Detached	$638,500	4	3	2 to 4
720 Maple St	Detached	$689,000	3	2.5	1 to 3
18202 Bella Terra Dr	Detached	$994,900	4	3.5	1 to 3

November 15, 2012January 15, 2013

Home Warranties 101

It has become common practice for both buyers and sellers to want a home warranty included in the sale of a home. It can be paid for by either because it is negotiable. Why are they popular? Because even with a good home inspection and full seller disclosure, problems can pop up after the buyer moves in. The warranty helps smooth the buyer through these issues during the first year of ownership.

What does a warranty usually cover? Warranties generally cover the mechanical functions of the house, but not the structure. So it covers the water heater, the plumbing, the electricals, etc. It does not cover the structure which is the roof, walls, windows, and foundation. Think of it like this, if it moves or affects temperature, it is probably covered. Most plans do not include the washer, dryer, refrigerator, or air conditioning, but for an additional cost, these items can be added to the policy. You can even add things like swimming pools and hot tubs.

How long do they last? Home warranties begin the day of closing and last for one year. At the end of the year, most warranties will offer the home owner an extension if they wish to purchase it.

Can I chooses the contractor to do the work? No, the warranty company contracts locally with service providers. If you need to make a claim, you call a 1-800 phone number to place a request. The warranty company then contacts their local contractor who will come to your house to do the repair. Each time you call there is a service charge. It runs from about $45 to $75. I suppose this is to keep people from just willy nilly abusing their policy. You aren’t going to call someone to change a light bulb for the cost of a service call, right?

What does it cost? Last week I telephoned 3 well-known providers and got quotes. You can get a quote on-line, but I just think it’s quicker and easier to pick up the phone. The cost will vary from location to location. This quote was for a house in the Portland metro area, but if you live outside of this area, it may be a different cost.

American Home Sheild 888-429-8247
This is the big boy in the game. This was the very first home warranty company I had ever heard of quite a few years ago. I had an American Home Sheild policy when I bought my own home.
The basic plan: $370
Add appliances: $480
I also know that AHS offers an option to cover the house from the moment it is listed for sale. So in other words, if something is found before closing, it can be covered. I recently sold a house in Lake Oswego that had an AHS policy that covered the basic, the appliances, the central air, and was retroactive to the date of listing. The total cost was $510.

Fidelity National Home Warranty 800-862-6837
The basic plan: $260
Basic plus air conditioning: $320
Basic + air + washer/dryer/refrigerator: $425
Fidelity National Home Warranty charges more than this if the house is larger than 5000 square feet. That may be true of the other plans as well. Pretty much the rule of thumb is that you need to call and get a direct quote for each specific property.

First American Home Warranty 800-444-9030
The basic plan: $290
Value plus which includes air conditioning: $420

I honestly think all of these companies are comparable. The pricing is competitive, but please call to get a direct quote. There are so many variables that affect the pricing. I’ve put this up to just give you a sense of costs.

Do these policies get used? Yes. I recall hearing that they get used an average of 2.7 times for each policy.

Let me tell you about my own experience. In the first year of owning my home I had trouble with my dishwasher. It was an older model, so I wasn’t surprised. I called American Home Shield for the repair. The cost of the repairs was going to be about $300. It seemed silly to spend $300 on an old dishwasher. I opted to apply that $300 towards a new dishwasher instead. I also used my policy for a furnace repair.

Be aware that the policy is for repair. As in my example above, it won’t necessarily help you to get all new appliances. Also, read through the policy so that you know what is covered and what is not.

I do recommend home warranties. I think if you have one, you are likely to use it. And that first year in a new home, when you have had all of the expense of the purchase, it makes the first year less stressful.

Let Linda or I know if you have any questions. As always, we are here to help.
Dianne

November 6, 2012November 10, 2012

Market Activity for Oct 29-Nov 4, 2012

We are certainly experiencing the normal adjustment to real estate that happens in the fall. Last week brought just 9 new listings and 9 pending sales. There were 13 closed sales. While not as busy as we see in the Spring and Summer months, it remains balanced between houses coming onto the market and houses selling. That is good news.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Oct 29-Nov 4, 2012)

Address	Type	Price	BR	Bths	SF
4 Touchstone #148	Condo	$120,000	3	2.5	1351
3894 Botticelli St	Attached	$175,000	2	1.5	1132
5831 Seville Ave	Detached	$200,000	3	1	1320
6109 SW Burma Rd	Detached	$349,900	3	2	1318
13366 Auburn Ct	Attached	$434,000	3	2.5	2492
15495 Tanager Dr	Detached	$450,000	4	2.5	2255
17087 Tualatin St	Detached	$564,950	4	2.5	2622
2065 Lilli Ln	Detached	$695,000	5	3.5+.5	4112
13576 Peters Rd	Detached	$715,000	4	3.5	3284

PENDING SALES (Oct 29-Nov 4,2012 2012)

Address	Type	Price	BR	Baths	SF	DOM
39 Crestfield Ct	Condo	$52,000	1	1	689	119
350 Cervantes Cir 1-E	Condo	$114,500	2	1.5	912	24
4 Icarus Loop	Detached	$399,900	4	2.5	2743	111
18140 Pioneer Ct	Detached	$430,000	4	2.5	2537	167
17561 Shepherds Ct	Detached	$539,900	4	2.5	3011	135
17 Cellini Ct	Detached	$554,900	5	4	3113	11
1172 Troon Rd	Detached	$559,000	4	3.5	2504	144
16633 Woodsman Ct	Detached	$674,900	4	4	4131	99
1799 Atherton Dr	Detached	$699,900	5	5.5	6280	18

SOLD (Oct 29-Nov 4,2012)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
3858 Botticelli St	Attached	$192,500	$165,000	1224	95
70 Weatherstone #33	Condo	$310,000	$230,000	2465	390
1512 Hemlock St	Detached	$274,900	$280,000	3168	$2
1903 Egan Way	Detached	$425,000	$375,000	2280	64
4690 Auburn Ln	Detached	$439,900	$400,000	2732	119
890 C Ave	Detached	$470,000	$405,000	2,596	15
9 Spinosa	Detached	$439,000	$422,060	2250	13
14070 Chatham Ct	Detached	$525,000	$525,000	2240	0
19395 Hilltop Rd	Detached	$1,095,000	$764,000	4911	217
670 Iron Mountain Blvd	Detached	$805,100	$800,000	5421	186
17255 Blue Heron Rd	Detached	$1,125,000	$1,000,000	2926	15
455 Furnace St	Detached	$1,190,000	$1,190,000	4000	285
4375 Southshore Blvd	Detached	$2,595,000	$2,350,000	3716	283

October 31, 2012

Stop the car Batman!

On a recent drive through Lake Oswego, I came upon a wonderful find. Two houses, across the street from each other, had their yards full of dozens of Jack-O-Lanterns. What a sight! I can not imagine carving so many pumpkins. I think I’m going to have to go by this evening to see them all lit up.

With the exception of the photo of my own Jack-O-Lantern, these pictures are of these two front yards. Happy Halloween!

October 23, 2012

Market Activity for Oct 15-21, 2012

Last week in Lake Oswego there were 12 new listings, 15 pending sales, and 20 closed sales.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Oct 15-21, 2012)

Address	Type	Price	BR	Bths	SF
3101 McNary Pkwy #10	Attached	$249,900	3	2.5	1908
21 Greenridge Ct	Condo	$260,000	3	1.5+.5	1815
18425 Don Lee Way	Detached	$279,000	3	1	946
18816 Longfellow Ave	Detached	$299,000	3	1	1033
1502 Country Club Rd	Detached	$325,000	3	3	2510
19428 Kokanee Ct	Detached	$495,000	4	2.5	2792
17 Cellini Ct	Detached	$554,900	5	4	3113
2801 Lakeview Blvd	Detached	$879,000	3	4	3144
17625 Woodhurst Pl	Detached	$949,000	4	4.5	4197
Englewood Lot	Detached	$1,495,000	5	4.5	4942
16545 Maple Circle	Detached	$1,495,000	5	4.5	3800
2605 Southshore Blvd	Detached	$1,595,000	4	4.5	4550

PENDING SALES (Oct 15-21, 2012 2012)

Address	Type	Price	BR	Baths	SF	DOM
1950 Bonniebrae Dr	Attached	$169,900	2	1.5	1056	99
213 Oswego Summit #213	Condo	$179,500	2	2	1383	105
4134 Tree St	Detached	$250,000	3	1.5	1405	44
48 Aquinas St	Detached	$282,000	4	2	2635	420
19163 Terry Ave	Detached	$282,000	4	2	2149	69
13005 Princeton Ct	Detached	$413,000	3	2.5	2294	2
14361 Sherbrook Pl	Detached	$419,900	3	2.5	2100	152
16855 Fernwood Dr	Detached	$449,900	3	3	2735	86
3838 Rivers Edge Dr	Detached	$525,000	4	2.5	2806	17
5530 Dunmire Dr	Detached	$529,900	5	3	2946	115
5677 Bonita Rd	Detached	$536,800	4	3.5	3603	265
13548 Streamside Dr	Detached	$599,900	5	3	3336	57
455 9th St	Detached	$775,000	3	2.5	2143	281
655 7th St	Detached	$819,000	3	2.5	2770	275
18110 Siena Dr	Detached	$1,098,450	4	3.5	4311	348

SOLD (Oct 15-21, 2012)

Address	Type	List Price	Closed Price	BR	Baths	CDOM
100 Kerr Pdwy #14	Condo	$67,500	$65,000	1	1	232
86 Kingsgate Rd	Condo	$85,000	$67,500	2	2	207
204 Ridgeway Rd	Condo	$99,500	$107,500	1	1	230
181 Oswego Summit	Condo	$149,900	$148,000	2	2	3
4 Touchstone #140	Condo	$178,000	$149,000	3	2.5	175
668 McVey Ave #26	Condo	$275,000	$219,000	2	1	100
2745 Greentree Rd	Detached	$269,900	$250,000	2	2	73
1674 Larch St	Detached	$300,000	$250,000	3	2.5	147
6325 Alylssa Terrace	Attached	$295,000	$259,000	3	2.5	69
4 Del Prado St	Detached	$299,900	$300,000	3	2.5	26
12510 SW 27th Pl	Detached	$349,900	$337,000	4	3	168
13455 Auburn Ct	Attached	$360,000	$360,000	3	2.5	9
4582 Trillium Woods	Attached	$369,900	$369,900	3	2.5	136
353 3rd St	Attached	$485,000	$471,250	2	2.5+.5	4
762 Lake Forest Dr	Detached	$499,900	$483,500	4	3	160
2823 Glen Haven Rd	Detached	$499,000	$485,000	4	2	85
361 Berwick Rd	Detached	$679,000	$650,000	4	3	4
5680 La Mesa Ct	Detached	$769,900	$719,900	4	3.5	114
1209 Lake Garden Ct	Detached	$850,000	$755,000	5	2.5	49
5476 Southwood Dr	Detached	$769,900	$769,900	4	3	5

October 20, 2012

Open Houses 10/21/12

It’s been a busy weekend. My apologies that this is coming out so late on Saturday.

Tomorrow there are 17 scheduled open houses in Lake Oswego.

Enjoy!

Address	Type	Price	BR	Baths	Open
4231 Woodside Circle	Attached	$279,500	3	2	2:15 to 4:15
16909 Tracy Ave	Detached	$325,000	4	2	12 to 2
3290 Wembley Park Rd	Detached	$359,900	5	3	1 to 4
1501 Koawood Dr	Detached	$395,000	4	3	2 to 4
29 Partridge Ln	Detached	$419,900	3	2.5	12 to 3
136 D Ave	Detached	$439,000	2	2.5	2 to 3:30
1429 Greentree Circle	Detached	$459,500	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
16746 Mellon St	Detached	$548,850	3	2.5	1 to 4
4994 Hartford Pl	Detached	$549,900	5	2.5	12 to 2
15655 Fieldstone Dr	Detached	$589,500	4	2.5	12 to 2
5088 Woodcrest Ln	Detached	$614,900	4	2.5	1 to 3
18096 Pilkington Rd	Detached	$625,000	3	2.5	1 to 3
135 Middlecrest Rd	Detached	$699,900	3	2.5	1 to 3
18202 Bella Terra Dr	Detached	$994,900	4	3.5	1 to 4
112 Northshore Circle	Detached	$1,650,000	4	3.5	11 to 4

October 18, 2012

Halloween in Lake Oswego

I really love the fall with crisp mornings and all of the glorious color of the changing leaves. I also love getting into the spooky spirit of Halloween. Yes, my house has pumpkins and giant spiders and the fragrance of spices in the air.

I know I am not alone in this. I have a client who plans trick or treating with his children around houses that he likes. He plans a route and then goes to the door with his kids so that he can get a brief glimpse inside. These are what he calls “Trick or Treat” houses.

If you are looking for an easy way to celebrate All Hallows Eve, consider putting the Lake Oswego Harvest Festival onto your calendar. It will take place in Millenium Plaza Park on October 31st, from 3:30 to 5:30. Activities include Trick or Treat Street, Games, Crafts, and a live performance from the Dragon Puppet Theater. Costumes are encouraged.

Enjoy,
Dianne

Author: Dianne Gregoire

LO Open Houses for 12/2/12

Formaldehyde