Author: Dianne Gregoire

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Market Activity June 4-10, 2012

Last week there were 21 new listings, 27 homes became pending sales, and 13 closed sales. The thing that caught my eye doing this activity report is that of the 27 pending sales, 13 sold in 10 days or less.

I’ve also got to share a recent experience. Working with buyers who had seen everything on the market in their price range in Lake Oswego, we were actively pursuing the new listings. A house, at a good price, came on the market in a high-end subdivision. We saw it the first day it was listed in the RMLS. My clients really liked the house and we spent about 45 minutes looking it over. When we openned the door to leave, there was a line in the driveway of Realtors and buyers. Seriously, a line was in the driveway. It’s fair to say that the house sold that day, to my clients. It was a bidding war. I haven’t seen anything like that in, well, 5 years.

New Listings

6351 Burma Rd, detached, $230,000, 2 BR, 1 Bth, 2016 SF

4291 Woodside Circle, attached, $249,900, 3 BR, 2 Bths, 2026 SF

80 Greenridge Ct, condo, $275,000, 3 BR, 3 Bths, 1824 SF

17736 Cardinal Ct, detached, $379,900, 4 BR, 2.5 Bths, 2640 SF

1419 Hemlock Ct, detached, $395,000, 5 BR, 3 Bths, 2532 SF

4 Grouse Terr, detached, $400,000, 3 BR, 3.5 Bths, 3371 SF

1611 Lee St, detached, $429,900, 3 BR, 2.5 Bths, 2402 SF

17 Condolea Dr, condo, $435,000, 3 BR, 2.5 Bths, 2198 SF

1429 Greentree Circle, $472,900, 4 BR, 1.5+.5 Bths, 2599 SF

18123 Westview Dr, detached, $474,900, 3 BR, 2.5 Bths, 2608 SF

3838 Rivers Edge Dr, detached, $525,000, 3 BR, 2.5 Bths, 2806 SF

17357 Oak Meadow Ln, detached, $535,000, 4 BR, 2.5 Bths, 3274 SF

1607 Pine St, detached, $549,000, 4 BR, 2.5 Bths, 2943 SF

2574 Glen Eagles Pl, detached, $599,000, 4 BR, 3 Bths, 2639 SF

18160 Delenka Ln, detached, $659,950, 4 BR, 3 Bths, 3663 SF

4301 Upper Dr, detached, $739,000, 4 BR, 3 Bths, 3415 SF

475 10th St, detached, $739,000, 5 BR, 3 Bths, 2932 SF

4912 Firwood Rd, detached, $1,175,000, 4 BR, 4 Bths, 5640 SF

1655 Edgecliff Terr, detached, $1,250,000, 4 BR, 3.5 Bths, 3416 SF

612 Ridgeway Rd, detached, $2,245,000, 4 BR, 3.5 Bths, 4106 SF

910 Northsore Rd, detached, $3,995,000, 4 BR, 6.5 Bths, 5203 SF

Pending Sales

5058 Foothills Dr A, condo, $179,900, 2 BR, 2 Bths, 1252 SF, 47 DOM

34 Condolea Dr, condo, $205,000, 2 BR, 2 Bths, 1420 SF, 4 DOM

16758 Graef Circle, detached, $259,000, 3 BR, 1 Bth, 1295 SF, 9 DOM

18680 Wood Duck Way, detached, $262,500, 3 BR, 2 Bths, 1784 SF, 46 DOM

1510 Spruce St, detached, $269,000, 3 BR, 2 Bths, 1242 SF, 5 DOM

17860 Pilkington Rd, detached, $275,000, 4 BR, 2 Bths, 1804 SF, 173 DOM

18280 Indian Creek Dr, detached, $293,000, 3 BR, 2 Bths, 1500 SF, 1 DOM

1401 Greentree Circle, detached, $295,000, 3 BR, 2 Bths, 1683 DOM, 221 DOM

186 D Ave, attached, $299,900, 3 BR, 2.5 Bths, 1636 SF, 221 DOM

16323 Kimball St, detached, $325,000, 3 BR, 1.5 Bths, 1350 SF, 2 DOM

19201 Maree Ct, detached, $334,900, 3 BR, 3 Bths, 3739 SF, 169 DOM

352 4th St, attached, $388,000, 2 BR, 2.5 Bths, 1731 SF, 4 DOM

4 Mozarteum Ct, detached, $424,900, 3 BR, 2.5 Bths, 2417 SF, 10 DOM

727 Laurel St, detached, $450,000, 4 BR, 3.5 Bths, 2924 SF, 47 DOM

17360 Hunter Ct, detached, $450,000, 3 BR, 2.5 Bths, 3254 SF, 8 DOM

5073 Madrona St, detached, $455,000, 3 BR, 3 Bths, 3299 SF, 20 DOM

2 Sherwood Ct, detached, $509,995, 5 BR, 3.5 Bths, 3306 SF, 3 DOM

16751 Alder Circle, detached, $549,900, 4 BR, 2.5+.5 Bths, 2328 SF, 52 DOM

17622 Brookhurst Dr, detached, $569,000, 4 BR, 2.5 Bths, 2909 SF, 24 DOM

19203 SW Megly Ct, detached, $578,950, 5 BR, 3.5 Bths, 3633 SF, 6 DOM

14390 Pfeifer DR, detached, $589,000, 5 BR, 3 Bths, 3337 SF, 3 DOM

14100 Redwood Ct, detached, $648,995, 4 BR, 3 Bths, 3134 SF, 19 DOM

17151 Cornell Ct, detached, $650,000, 4 BR, 3 Bths, 3422 SF, 76 DOM

1107 Yates St, detached, $774,900, 2 BR, 1 Bth, 1222 SF, 56 DOM

13219 Deerfield Ct, detached, $799,900, 4 BR, 3.5 Bths, 3915 SF, 50 DOM

3136 Douglas Circle, detached, $949,500, 4 BR, 3.5 Bths, 4132 SF, 7 DOM

14088 Goodall Rd, detached, $950,000, 5 BR, 3.5+.5 Bths, 4441 SF, 4 DOM

Closed Sales

668 McVey Ave #34, condo, original price $149,000, closed price $151,000, 1 BR, 1 Bth, 26 CDOM

23 Bloch Terr, attached, original price $195,000, closed price $182,000, 2 BR, 2 Bths, 86 CDOM

14863 Twin Fir Ct, detached, original price $232,900, closed price $228,400, 3 BR, 2 Bths, 20 CDOM

20 Preakness Ct, attached, original price $279,000, closed price $270,000, 3 BR, 2 Bths, 8 CDOM

15430 Stephanie Ct, attached, original price $284,900, closed price $271,000, 3 BR, 2.5 Bths, 13 CDOM

4573 Oakridge Rd lot 33, attached, original price $369,900, closed price $374,900, 3 BR, 2.5 Bths, 162 CDOM

1902 Woodland Terr, detached, original price $423,500, closed price $415,000, 3 BR, 3 Bths, 80 CDOM

19198 Olson Ave, detached, original price $524,900, closed price $502,500, 4 BR, 2.5 Bths, 16 CDOM

17157 Blue Heron Rd, detached, original price $599,000, closed price $520,000, 5 BR, 3 Bths, 536 CDOM

4336 Glacier Lily St, detached, original price $524,950, closed price $524,950, 4 BR, 2.5 Bths, 9 CDOM

3211 Alber Spring Ct, detached, original price $589,000, closed price $579,000, 4 BR, 2.5 Bths, 48 CDOM

17406 Brookhurst Dr, detached, original price $649,900, closed price $636,000, 5 BR, 3.5 Bths, 211 CDOM

1622 Leslie Ln, detached, original price $1,410,000, closed price $1,410,000, 4 BR, 3.5+.5 Bths, 0 CDOM

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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June 10th Open Houses

This Sunday there are 28 scheduled open houses. Enjoy.

5880 Rockwood Ct, detached, $255,000, 3 BR, 2 Bths, open 1 to 4

18863 Indian Springs Rd, detached, $315,000, 4 BR, 3 Bths, open 2 to 4

19060 Indian Springs Circle, detached, $349,900, 3 BR, 2 Bths, open 2 to 4

352 A St, attached, $388,000, 2 BR, 2.5 Bths, open 1 to 3

5365 Lakeview Blvd, detached, $389,000, 4 BR, 2.5 Bths, open 1 to 4

1611 Lee St, detached, $429,900, 3 BR, 2.5 Bths, open 12 to 3

3220 Duncan Dr, detached, $499,900, 4 BR, 2.5 Bths, open 1 to 4

3838 River Edge Dr, detached, $525,000, 3 BR, 3 Bths, open 1 to 4

7 Mountain View Ln, detached, $535,000, 5 BR, 2.5 Bths, open 1 to 4

355 6th St, attached, $549,900, 3 BR, 3.5 Bths, open 2 to 4

17802 Treetop Ln, detached, $550,000, 4 BR, 3.5 Bths, open 1 to 3

13226 Rogers Rd, detached, $589,000, 4 BR, 2.5 Bths, open 1 to 3

6479 McDuff Ct, detached, $589,900, 3 BR, 2.5 Bths, open 12 to 3

15655 Fieldstone Dr, detached, $595,000, 3 BR, 2.5 Bths, open 12 to 2

15633 Fieldstone Dr, detached, $615,000, 4 BR, 2.5 Bths, open 12 to 2

5533 Fieldstone Ct, detached, $620,000, 4 BR, 2.5 Bths, open 12 to 2

17980 Meadowlark Ln, detached, $689,000, 3 BR, 2.5 Bths, open 1 to 4

18035 Skyland Circle, detached, $725,000, 4 BR, 2.5 Bths, open 1 to 3

5680 La Mesa Ct, detached, $769,900, 4 BR, 2.5 Bths, open 1 to 3

330 Northshore Rd, detached, $789,000, 4 BR, 3 Bths, open 1 to 4

2348 Oswego Glen Ct, detached, $875,000, 4 BR, 3.5 Bths, open 1 to 4

18231 Siena Dr, detached, $928,500, 4 BR, 3.5 Bths, open 1 to 3

16805 Scott Ct, detached, $979,000, 4 BR, 3.5 Bths, open 2 to 4

18202 Bella Terra Dr, detached, $1,075,000, 4 BR, 3.5 Bths, open 1 to 3

18132 Siena Dr, detached, $1,125,000, 4 BR, 3.5 Bths, open 1 to 3

4033 Westbay Rd, detached, $1,195,000, 4 BR, 3.5 Bths, open 12 to 3

18110 Siena Dr, detached, $1,198,950, 4 BR, 3.5 Bths, open 1 to 3

17282 Lake Haven Dr, detached, $1, 199,000, 4 BR, 2.5 Bths, open 1:30 to 4

1655 Edgecliff Terrace, detached, $1,250,000, 4 BR, 3.5 Bths, open 1 to 3

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Community Clean Up June 16th

Now is your chance to really dig into that spring cleaning and get rid of unwanted items. June 16th, from 9am to 12pm (or until the dumpsters are full) the city of Lake Oswego is sponsoring a community clean up event. There a 2 locations, each collecting different items.

West End Building, 4101 Kruse Way:

Rigid plastics: lawn furniture, barrels and buckets, toys, play houses, CDs and DVDs and their cases, laundry baskets, shelving, pet containers, totes, empty and clean garbage containers, landscaping trays and flower pots, automotive plastics

Scrap metal: non-freon appliances such as stoves, ovens, toasters, ladders, barbeques and other metal

Community Warehouse will be on hand to collect useable items like towels, pillows, chairs, dressers, sofas, dish sets, pots, pans, TVs, kitchen tables, microwaves, mattresses, bed sheets and bikes.

There are some restrictions:
No yard debris.
No hazardous waste (fuel, pesticides, etc)
No firearms or fireworks
No florescent bulbs
No batteries
No freon-based appliances (contact energy trust of Oregon at 866-444-8907 for ideas on disposal of these items)
No tires.

At River West Church, 2000 Country Club Rd, you can dispose of electronic waste such as computers, monitors, televisions, and other electronics.

The cost for getting rid of these items? You are asked to make a dontaion to the Oregon Food Bank.

This event is for citizens of Lake Oswego only. For more information, contact the Citizen Information Center at 503-635-0257.

Do we live in a cool town, or what?

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Open Houses 5/27/12

6479 McDuff Ct
This Sunday there are 13 homes scheduled to held open, including my new listing at 6479 McDuff Ct.
I’d love to have the chance to meet you and to have you see this gorgeous home.

Priced at $589,900, it has 3173 square feet. It was built in 2006 and has a great-room floorplan, 3 bedrooms and a bonus room.

You’ll find my bright yellow signs on McEwan and Childs Roads. I’ll be there from noon to 3pm. Come on by!

19271 Benfield Ave, a house, $267,000, 3 BR, 2 Bths, open 1 to 3

14326 Orchard Springs Rd, a house, $359,900, 4 BR, 2.5 Bths, open 1 to 3

14359 Orchard Springs Rd, a house, $369,000, 4 BR, 2.5 Bths, open 1 to 3

5947 Meadowcreek Ct, a house, $495,000, 4 BR, 2.5 Bths, open 1 to 3

3220 Duncan Dr, a house, $499,900, 4 BR, 2.5 Bths, open 1 to 4

5542 Dunmire Dr, a house, $519,900, 4 BR, 2.5 Bths, open 12 to 4

7 Mountain View Ln, a house, $535,000, 5 BR, 2.5 Bths, open 1 to 4

6479 McDuff Ct, a house, $589,900, 3 BR, 2.5 Bths, open 12 to 3

17980 Meadowlark Ln, a house, $689,000, 3 BR, 2.5 Bths, open 1 to 4

16805 Scott Ct, a house, $979,000, 4 BR, 3.5 Bths, open 1:30 to 4

18024 Skyland Circle, a house, $1,149,000, 4 BR, 3.5+.5 Bths, open 12 to 3

13766 Knaus Rd, a house, $1,199,000, 5 BR, 5 Bths, open 1 to 4

112 Northshore Circle, a house, $1,599,000, 4 BR, 3.5 Bths, open 12 to 4

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Featured Property: 6479 McDuff Ct

Kitchen and informal dining
Greatroom
Front of house
I am proud to introduce you to a new listing that I have in Lake Oswego. 5479 McDuff Ct is located in the Rivergrove area of Lake Oswego. It’s a quiet cul-de-sac location of newer homes. The lot has 8800 square feet and there is also a grassy commons area.

The house is pretty spectacular, and, in my opinion, has above average quality. It was built in 2006. The thing that really makes it stand out is the quality of the woodwork and trim. It’s one of those things that your eye picks up on subconsciously. You just know that house feels superior.

It has a greatroom floor plan, 3 bedrooms, a bonus room, and 2 1/2 baths. The master suite has a luxurious bath with jetted tub and a custom shower. It also has a fireplace and a Juliet balcony. The hall bath has access from the hallway itself, but also from both of the secondary bedrooms.

The house has 3173 square feet with gas heat, 2 gas fireplaces, central air conditioning, and central vacuum, it is just a top-notch home.

The asking price is $589,900. For an appointment to see this house, please call me at 503-803-6298.
Dianne

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Market Activity for May 14-20, 2012

Last week 21 new listings came onto the market, 23 homes went pending, and 13 sales closed, including a house on the Willamette River for $3,600,000. That is the most high-end sale in the area in several years. Ther has been quite a bit of buzz about it. Also of note is that it sold in just 33 days.

New Listings

86 Kingsgate Rd, condo, $73,900, 2 BR, 2 Bths, 849SF

6930 Montauk Circle, condo, $119,000, 2 BR, 1 Bth, 924SF

19271 Benfield Ave, detached, $267,000, 3 BR, 2 Bths, 1256SF

18863 Indian Springs Rd, detached, $315,000, 4 BR, 3 Bths, 1976SF

647 2nd St, attached, $339,000, 2 BR, 2 Bths, 1457SF

1830 Cloverleaf Rd, detached, $364,999, 5 BR, 2 Bths, 1795SF

14361 Sherbrook Pl, detached, $419,900, 3 BR, 2.5 Bths, 2100SF

4690 Auburn Ln, attached, $439,900, 3 BR, 3.5 Bths, 2732SF

15585 Partridge Dr, detached, $449,950, 4 BR, 2.5 Bths, 2604SF

5073 Madrona St, detached, $455,000, 3 BR, 3 Bths, 3299SF

14321 Camden Ln, detached, $459,900, 4 BR, 2.5 Bths, 2553SF

5214 Lower Dr, detached, $485,000, 4 BR, 2.5 Bths, 2904SF

18140 Pioneer Ct, detached, $499,000, 4 BR, 2.5 Bths, 2537SF

17622 Brookhurst Dr, detached, $569,000, 4 BR, 2.5 Bths, 2909SF

6479 McDuff Ct, detached, $589,900, 3 BR, 2.5 Bths, 3173SF

18345 Heather Ann Ct, detached, $665,000, 4 BR, 2.5 Bths, 3336SF

13741 Knaus Rd, detached, $700,000, 3 BR, 2 Bths, 2874SF

50 Becket St, detached, $734,000, 4 BR, 2.5 Bths, 4216SF

5680 La Mesa Ct, detached, $769,900, 4 BR, 3.5 Bths, 3440SF

330 Northshore Rd, detached, $789,000, 4 BR, 3 Bths, 3324SF

3917 Southshore Blvd, detached, $2,150,000, 3 BR, 4.5 Bths, 4657SF

Pendng Sales

100 Kerr Pkwy #53, condo, $67,500, 1 BR, 1 Bth, 617SF, 6DOM

92 Oswego Summit, condo, $84,900, 1 BR, 1 Bth, 764SF, 66 DOM

49 Oswego Summit, condo, $89,500, 1 BR, 1 Bth, 721SF, 18 DOM

19158 Longfellow Ave, detached, $199,000, 3 BR, 1.5 Bths, 1232SF, 100 DOM

4868 Lakeview Blvd, detached, $219,000, 2 BR, 1 Bth, 800 SF, 4 DOM

15155 Glen Eagles Ct, detached, $234,500, 3 BR, 2.5 Bths, 2300 SF, 8 DOM

10 Preakness Ct, attached, $279,500, 4 BR, 2.5 Bths, 2270 SF, 155 DOM

2965 Tolkien Ln, detached, $289,000, 4 BR, 2.5 Bths, 3925 SF, 2 DOM

4991 Centerwood St, detached, $299,900, 4 BR, 3.5 Bths, 2286 SF, 183 DOM

1053 Hallinan St, detached, $300,000, 3 BR, 2.5 Bths, 1944 SF, 9 DOM

14124 Goodall Rd, detached, $349,000, 4 BR, 2 Bths, 2624 SF, 2 DOM

225 Hidalgo St, detached, $365,000, 4 BR, 2.5 Bths, 2251 SF, 2 DOM

12770 Sierra Vista Dr, detached, $393,900, 4 BR, 2.5 Bths, 2592 SF, 98 DOM

6 Sherwood Ct, detached, $450,000, 4 BR, 3 Bths, 3133 SF, 407 DOM

19010 Bryant Rd, detached, $499,000, 4 BR, 3.5 Bths, 4878 SF, 166 DOM

4626 Chelsea Ln, detached, $574,900, 4 BR, 2.5 Bths, 3364 SF, 70 DOM

2323 Prestwick Rd, detached, $596,000, 4 BR, 3 Bths, 3142 SF, 0 DOM

15655 Village Dr, detached, $625,000, 4 BR, 2.5 Bths, 4044 SF, 1 DOM

1896 Palisades Lake Ct, detached, $767,500, 4 BR, 3 Bths, 3476 SF, 8 DOM

3131 Wembley Park Rd, detached, $819,000, 4 BR, 3.5 Bths, 3597 SF, 352 DOM

1291 Garden Ct, detached, $874,500, 3 BR, 3 Bths, 3254 SF, 5 DOM

13795 Cameo Ct, detached, $1,475,000, 4 BR, 5.5+.5 Bths, 7190 SF, 176 DOM

1075 Chandler Rd, detached, $1,535,000, 5 BR, 4.5 Bths, 5946 SF, 212 DOM

Closed Sales

5055 Foothills DR H, condo, original price $187,000, sold price $172,000, 2 BR, 2 Bths, 134 CDOM

51 Oriole Ln, detached, original price $199,900, closed price $175,500, 3 BR, 2 Bths, 119 CDOM

24 Weatherstone, attached, original price $239,000, closed price $239,000, 3 BR, 2.5 Bths, 38 CDOM

55 Northshore Rd #8, attached, original price $279,000, closed price $255,974, 1 BR, 1 Bth, 234 CDOM

42 Northview Ct, attached, original price $369,900, closed price $357,000, 3 BR, 3.5 Bths, 304 CDOM

2357 Hillside Ln, detached, original price $474,900, closed price $435,000, 5 BR, 3 Bths, 45 CDOM

555 Atwater Rd, detached, original price $599,000, closed price $585,000, 5 BR, 3 Bths, 459 CDOM

3623 Eena Rd, detached, original price $649,000, closed price $635,000, 5 BR, 3.5 Bths, 271 CDOM

2351 Palisades Crest Dr, detached, original price $699,900, closed price $676,000, 5 BR, 2.5 Bths, 59 CDOM

15468 Boones Way, attached, original price $724,900, closed price $699,000, 4 BR, 2.5 Bths, 260 CDOM

2311 Oswego Glen Ct, detached, original price $839,000, closed price $780,000, 4 BR, 4 Bths, 474 CDOM

4110 Canal Rd, detached, original price $970,000, closed price $880,000, 4 BR, 3.5 Bths, 103 CDOM

12900 Fielding Rd, detached, original price $4,395,000, closed price $3,600,000, 6 BR, 7.5 Bths, 33 CDOM

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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Open Houses 5/20/12

Linda and I have both gotten really busy with work and have managed to miss this feature on The Blotter a couple of times. Please know that we post as we are able, and this week I am able.

There will be 27 open houses in Lake Oswego on Sunday. Enjoy.

100 Kerr Parkway, a condo, $67,500, 1 BR, 1 Bth, open 2 to 4

647 2nd St, a house, $339,000, 2 BR, 2 Bths, open 1 to 3

5065 Firwood Rd, a house, $345,000, 4 BR, 3 Bths, open 12 to 3

5365 Lakeview Blvd, a house, $389,000, 4 BR, 2.5 Bths, open 1 to 4

17265 Cedar Rd, a house, $417,000, 4 BR, 2.5 Bths, open 12 to 2

6 Partridge Ln, a house, $469,900, 4 BR, 2.5 Bths, open 1 to 3

15225 Candlewood Ct, a house, $499,000, 4 BR, 2.5 Bths, open 1 to 3

17802 Treetop Ln, a house, $550,000, 4 BR, 3.5 Bths, open 1 to 3

16014 SW Parker Rd, a house, $567,950, 5 BR, 3 Bths, open 1 to 4

15655 Fieldstone Dr, a house, $598,950, 3 BR, 2.5 Bths, open 12 to 2

15633 Fieldstone Dr, a house, $618,950, 4 BR, 2.5 Bths, open 12 to 2

5533 Fieldstone Ct, a house, $628,950, 4 Br, 2.5 Bths, open 12 to 2

4136 Heathrow Ln, a house, $629,000, 4 BR, 2.5 Bths, open 1 to 3

12994 Sierra Vista Dr, a house, $659,999, 5 BR, 3.5 Bths, open 12 to 3

18345 Heather Ann Ct, a house, $665,000, 4 BR, 2.5 Bths, open 12 to 3

6484 McDuff Ct, a house, $669,000, 4 BR, 4 Bths, open 1 to 3

18035 Skyland Circle, a house, $725,000, 4 BR, 2.5 Bths, open 1 to 3

50 Becket St, a house, $734,000, 4 BR, 2.5 Bths, open 1 to 3

330 Northshore Rd, a house, $789,000, 4 BR, 3 Bths, open 1 to 4

2348 Oswego Glen Ct, a house, $889,900, 4 BR, 3.5 Bths, open 1 to 4

18231 Siena Dr, a house, $959,950, 4 BR, 3.5 Bths, open 1 to 3

18202 Bella Terra Dr, a house, $1,098,750, 4 BR, 3.5 Bths, open 1 to 3

18132 Siena Dr, a house, $1,125,000, 4 BR, 3.5 Bths, open 1 to 3

18024 Skyland Circle, a house, $1,149,000, 4 BR, 3.5+.5 Bths, open 12 to 2

18110 Siena Dr, a house, $1,198,950, 4 BR, 3.5 Bths, open 1 to 3

2092 Summit Dr, a house, $1,395,000, 4 BR, 4.5 Bths, open 1 to 3

1677 Leslie Ln, a house, $1,999,999, 4 BR, 6.5 Bths, open 2 to 4
m

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Buying Distressed Houses

After my post a week or so ago showing the percentage of distressed houses in the current market, I got an inquiry asking what should a buyer do to make the most of these circumstances.

As a reminder, there are two types of distressed houses: shortsales and foreclosures. Shortsales are still owned by the homeowner, but the amount owed on the mortgage is more than the house is worth. To sell the house, the homeowner must get the lender to discount the mortgage and forgive some of the debt.

Shortsales are frustrating because it requires a 3rd party, the lender, to approve the sale. As a buyer you have to wait it out and it can take months. After the wait, the lender may then not approve the sale and your time and effort will have been for nothing. This may not be so bad for an investor, as the end result may be worth it. But for a buyer who is trying to purchase a home, it can be agonizing.

Shortsales are listed for sale just like any other property and are found on most National websites as well as our local RMLS.

Bank Foreclosures (sometimes called REO, Real Estate Owned) are a better proposal for everyone. They are already repossessed and the title to the property is held by the lender. This is a more normal sale in that there is not waiting game for approvals. Escrow can occur in 45 days, just like a normal purchase.

The big difference in a foreclosure is that the bank will have extensive paperwork to protect their interest. They go to great lengths to get buyers of their properties to sign off on any recourse after closing. They will also have items like penalties if the closing does not occur on time. So as a buyer, you need to do your part to thoroughly inspect the property, and the deal on the house really needs to be such that putting up with the hoops that the bank puts out there is worth it.

Bank foreclosures are also listed with Realtors. So you will find them on the National websites as well in on our local RMLS. However, there are a couple of other websites that you can use:

www.homepath.com lists Fannie Mae foreclosures
www.va.equator.com lists Veterans Association Foreclosures
www.hudhomestore.com lists FHA foreclosures

These websites do not charge for the information. There are numerous other websites that do charge. I have always felt it is silly to pay for what is otherwise free. If you google “bank foreclosures” you’ll get a slew of sights that want to make money off of your curiousity.

Next you need to know that if you are going to get into this game, you have to be ready. You are one of thousands. These houses, at least the ones that are priced right in nice areas of town, sell fast. So you 1) need to get your money in order with proof of funds for cash purchases or financing for a mortgage, and 2) watch the market daily and be prepared to move.

When the deals are offered, expect multiple offers. Be prepared to pay over the list price. In a recent experience I have had, there were 4 cash offers. My buyer went just $1100 over the list price and got the house.

Last, be prepared to find defects in the house. People who are underwater in their homes or loose their homes to foreclosure do not have money to do repairs. These properties are sold “as is” and the repairs fall to the buyer. Again, get a good home inspection. These offers are still made subject to a home inspection contingency. So if you find something really bad, you can get out of the deal.

There really are buying opportunities out there right now. I hope this gives you some perspective on how you might make the most of the situation.
Dianne

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Market Activity May 7-13, 2012

Last week 23 new listings came onto the market, 21 homes went pending, and 7 sales closed and recorded.

New Listings

4619 Lakeview Blvd, condo, $79,000, 1 BR, 1 Bth, 753SF

3958 Carman Dr, condo, $134,900, 2 BR, 2.5 Bths, 1133SF

4868 Lakeview Blvd, detached, $219,000, 2 BR, 1 Bth, 800SF

15155 Glen Eagles Ct, detached, $234,500, 3 BR, 2.5 Bths, 2300SF

109 Kingsgate Rd, detached, $240,000, 3 BR, 2 Bths, 1388SF

1053 Hallinan St, detached, $300,000, 3 BR, 2.5 Bths, 1944SF

836 Clara Ct, detached, $409,000, 4 BR, 2.5 Bths, 2048SF

2794 Cedar Rd, detached, $417,000, 4 BR, 2.5 Bths, 2500SF

2794 Vale Ct, detached, $438,000, 3 BR, 2.5 Bths, 2970SF

16014 SW Parker Rd, detached, $567,950, 5 BR, 3 Bths, 2277SF

17479 Brookhurst Dr, detached, $600,000, 4 BR, 2.5 Bths, 3551 SF

2415 Park Dr, detached, $619,000, 3 BR, 2.5 Bths, 2163SF

12870 Elk Rock Rd, detached, $750,000, 3 BR, 2 Bths, 2542SF

1985 Country Club Rd, detached, $760,000, 5 BR, 4Bths, 3630SF

1896 Palisades Lake Ct, detached, $767,500, 4 BR, 3 Bths, 3476SF

1267 Cherry Ln, detached, $784,000, 3 BR, 2 Bths, 3311SF

1273 Wells St, detached, $799,900, 4 BR, 3 Bths, 4000SF

1033 Northshore Rd, detached, $819,000, 3 BR, 2 Bths, 2976SF

18977 Barton Rd, detached, $840,000, 4 BR, 4.5 Bths, 5076SF

17411 Bergis Farm Dr, detached, $882,500, 4 BR, 3.5 Bths, 4282SF

17618 Lake Haven Dr, detached, $1,595,000, 6 BR, 4 Bths, 4471SF

1607 Lake Front Rd, detached, $1,895,000, 4 BR, 4 Bths, 4012SF

3142 Lakeview Blvd, detached, $4,250,000, 4 BR, 5 Bths, 5554SF

Pending Sales

89 Galen ST #89, condo, $40,500, 1 BR, 1 Bth, 575SF, 42 DOM

100 Kerr Pkwy #28, condo, $72,000, 2 BR, 1.5 Bths, 860SF, 2 DOM

313 Cervantes, condo, $120,000, 2 BR, 2 Bths, 1209SF, 61 DOM

5060 Foothills Dr E, condo, $239,900, 2 BR, 2 Bths, 1252SF, 90 DOM

5695 Burma, detached, $250,000, 4 BR, 2.5 Bths, 1934 SF, 15 DOM

18680 Wood Duck Way, detached, $265,200, 3 BR, 2 Bths, 1784 SF, 18 DOM

8 Polonius St, detached, $270,000, 3 BR, 2 Bths, 1729SF, 214 DOM

59 Condolea Terr., condo, $295,000, 3 BR, 3 Bths, 2198SF, 1 DOM

5266 Charleton Ct, detached, $299,500, 3 BR, 2 Bths, 2063SF, 9 DOM

186 D Ave, attached, $299,900, 3 BR, 2.5 Bths, 1636SF, 201 DOM

19201 Maree Ct, detached, $334,900, 3 BR, 3 Bths, 3739SF, 141 DOM

2681 Greentree Rd, detached, $349,900, 4 BR, 3 Bths, 2291SF, 361 DOM

1872 Kilkenny Dr, detached, $379,900, 5 BR, 3 Bths, 2748 SF, 302 DOM

1934 Wembly Place, detached, $384,900, 4 BR, 2.5 Bths, 2321SF, 2 DOM

1690 Fircrest Ct, detached, $419,900, 3 BR, 3.5 Bths, 2718SF, 28 DOM

17157 Blue Heron Rd, detached, $525,000, 5 BR, 3 Bths, 2799SF, 536 DOM

13219 Deerfield Ct, detached, $799,900, 4 BR, 3.5 Bths, 3915SF, 22 DOM

2311 Oswego Glen Ct, detached, $839,000, 4 BR, 4 Bths, 4529SF, 474 DOM

16655 Maple Circle, detached, $995,000, 2 BR, 2 Bths, 2030SF, 81 DOM

951 Atwater Rd, detached, $1,645,000, 6 BR, 5.5 Bths, 7582SF, 7 DOM

2936 Lakeview Blvd, detached, $1,895,000, 5 BR, 3.5 Bths, 4179SF, 17 DOM

Closed Sales

112 Greenridge Ct, attached, original price $219,900, closed price $188,000, 2 BR, 3 Bths, 77 CDOM

1442 Ash St, detached, original price $250,000, closed price $230,000, 3 BR, 2 Bths, 21 CDOM

2834 Glenmorrie Dr, detached, original price $499,000, closed price $355,000, 3 BR, 2.5 Bths, 213 CDOM

13020 Princeton Ct, detached, original price $457,000, closed price $392,000, 4 BR, 2.5 Bths, 308 CDOM

486 Livingood Ln, detached, original price $459,000, closed price $430,000, 4 BR, 3.5 Bths, 53 CDOM

1427 Horseshoe Curve, detached, original price $879,000, closed price $800,000, 2 BR, 2 Bths, 240 CDOM

15905 Oswego Shore Ct, detached, original price $1,495,000, closed price $1,400,000, 3 BR, 3.5 Bths, 17 CDOM

Posted on

Distressed Properties

The RMLS recently provided this graph to Realtors and I found it interesting. It occurred to me that you might as well.

It clearly shows that while distressed sales make up 17.2% percent of the new listings, they make up nearly 29% of the closed sales. Of that the shortsales are pretty consistent being 15% of the new listings and 13% of the closed sales. Whereas the foreclosures are just 13.2% of the new listing but account for 25.6% of the closed sales.

I do think that the banks are throwing houses out onto the market at pretty rock bottom prices. I’ve seen a few houses lately, priced so low, that half a dozen offers get written within days. Then the bank takes a week to respond and even more offers get written. This is a very negative thing for surrounding property values. What I am describing here is happening in much greater numbers outside of Lake Oswego, but I’ve seen some of it here as well.

The other interesting characteristic on this graph is the non-distressed properties. They represent 71.2 % of the new listings, but 61.1% of the closed sales. That 10% difference? I think that’s over-priced housing that has not adjusted to the reality of the current market.

I’ll work to find a happier subject for my next editiorial post, but I did find these graphs both useful and interesting.
Dianne