In Lake Oswego there were 17 New properties entering the market, 8 in Pending status, and 10 marked as Sold during the last week according to RMLS.
See below for further details:
NEWLY LISTED (Oct. 10-16, 2011)
| Address | Type | Price | Sq FT | BR | Baths |
| 4629 Lakeview Blvd C2 | Condo | $94,900 | 1178 | 2 | 2 |
| 203 Cervantes | Condo | $119,900 | 1100 | 2 | 2 |
| 16494 Inverurie Rd | Detached | $155,000 | 1064 | 3 | 1 |
| 247 Cervantes | Condo | $161,200 | 1384 | 2 | 2 |
| 5830 SW Burma Rd | Detached | $189,000 | 1186 | 3 | 1 |
| 5786 Washington Ct | Detached | $194,400 | 1876 | 3 | 2 |
| 19010 Longfellow Ave | Detached | $199,900 | 1732 | 3 | 1 |
| 135 Kingsgate Rd | Detached | $264,900 | 1720 | 3 | 2.5 |
| 765 Maple St | Detached | $380,000 | 1998 | 3 | 2 |
| 120 Condolea Dr #45 | Condo | $383,790 | 2958 | 3 | 3 |
| 4660 Black Forest Ct | Detached | $390,000 | 2157 | 4 | 2.5 |
| 13750 Shireva Dr | Detached | 399,900 | 3294 | 4 | 3 |
| 12 Yorick St | Detached | $416,000 | 2428 | 4 | 3.5 |
| 4367 Haven St | Detached | $578,000 | 3617 | 5 | 3.5 |
| 3000 Upper Dr | Detached | $695,000 | 2851 | 3 | 3 |
| 19363 SW Riverwood | Detached | $719,000 | 2984 | 4 | 3 |
| 1623 Glenmorrie Dr | Detached | $925,000 | 5894 | 5 | 4.5 |
PENDING SALES (Oct. 9-16, 2011)
| Address | Type | Price | Sq Ft | BR | Baths | CDOM |
| 99 Oswego Summit #99 | Condo | $89,900 | 1116 | 2 | 1.5 | 45 |
| 45 Eagle Crest Dr $508 | Condo | $169,000 | 1046 | 2 | 2 | 206 |
| 17025 Denney Ct | Detached | $209,900 | 1429 | 3 | 2 | 7 |
| 1674 Fircrest Dr | Detached | $249,500 | 1998 | 4 | 2 | 114 |
| 140 Touchstone Ct | Attached | $284,900 | 1964 | 3 | 2.5 | 8 |
| 15601 Manchester Dr | Detached | $424,000 | 3302 | 5 | 3.5 | 150 |
| 5428 Southwood Dr | Detached | $575,000 | 3302 | 4 | 3 | 172 |
| 427 9th St | Detached | $649,500 | 3250 | 5 | 3.5 | 123 |
SOLD (Oct. 10-16, 2011)
| Address | Orig. Price | Sold Price | Type | Sq Ft | CDOM |
| 3311 Fir Ridge Rd | $359,000 | $359,000 | Detached | 2112 | 91 |
| 4734 Lakeview Blvd | $439,950 | $366,500 | Detached | 2787 | 155 |
| 4677 Oakridge Rd Lt4 | $369,900 | $369,900 | Attached | 1738 | 97 |
| 4663 Trillium Woods Lt 9 | $433,275 | $418,275 | Attached | 2232 | 0 |
| 5842 Meadowcreek Ct | $449,900 | $440,000 | Detached | 2309 | 7 |
| 2235 Glen Haven Rd | $549,000 | $479,000 | Detached | 2778 | 714 |
| 5686 Charles Circle | $499,900 | $499,900 | Detached | 3246 | 6 |
| 4184 Sunset Dr | $569,000 | $500,000 | Detached | 2932 | 169 |
| 5035 Woodcrest Ln Lt 19 | $585,300 | $604,894 | Detached | 3174 | 0 |
| 5088 Woodcrest Ln | $599,900 | $607,500 | Detached | 3056 | 219 |
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
Changes in New Construction
Housing starts in new construction have always been a leading indicator of what is happening in the housing market. It can be a real roller coaster for builders. So I thought it would be interesting to compile some information that allows you to easily see what has happened to new construction in Lake Oswego in the years 2006-2011.
Here is a summary:
| Year | # Houses Sold | Low Price | High Price | Average Price | Square feet |
| 2006 | 30 | $449,900 | $1,980,000 | $1,068,000 | 3,743 |
| 2007 | 33 | $825,000 | $2,610,000 | $1,435,000 | 4,450 |
| 2008 | 11 | $670,000 | $1,815,000 | $990,000 | 3,746 |
| 2009 | 11 | $519,000 | $2,025,000 | $1,002,000 | 3,623 |
| 2010 | 13 | $510,000 | $1,115,000 | $697,000 | 3,635 |
| 2011 | 18 to date | $375,000 | $959,000 | $683,000 | 3,131 |
| 2011 Pending | 13 | $379,900 | $1,199,000 | $619,800 | 3,071 |
| Active | 39 | $379,950 | $3,400,000 | $662,000 | 2,924 |
It’s pretty incredible to see how heady things got in 2007. In just one year the average sales price went up from $1,068,000 to $1,435,000. And the size of the houses being built went from an average of 3743 square feet to 4450 square feet. I remember seeing million dollar mansions being built and sold as spec houses on Southshore! I have always been able to appreciate a big, gorgeous new house at top dollar if it also has a nice location and setting, but on a busy street? Even then it seemed crazy to me. But there is so little undeveloped land in Lake Oswego that the buyers were willing to buy on a busy street. The demand for large, luxury homes was that high.
Then the economy turned. Very few homes were built and sold 2008-2010.
What got me to thinking about writing on this topic is that I have been seeing quite a lot more new construction. The builders have learned and adapted to the economy. I was surprised to see that the average size of a new home is still right around 3000 square feet. So they are smaller, especially when compared to the 4450 average size in 2007, but 3000 square feet is still a good sized house. The big change is in the pricing. Averages prices of 2011 solds, pending sales and active listings are all in the $600,000’s. There are 18 closed sales year to date but 13 in escrow. With escrow times running 45-60 days, it’s fair to say that most of the pending sales will close by the end of the year. So we could potentially see new construction sales up around 30 for the year, which is where they were before the recession.
I think this is a time of opportunity in Lake Oswego housing. There are 13 brand new homes for sale in LO right now that are priced under $500,000.
Please let us know if you want further information. Linda and I would love to be of help.
Dianne
Market Activity for 9/26 to 10/2, 2011
In Lake Oswego last week there were 14 new listings, 16 pending sales, and 10 closed sales.
See below for further details:
NEWLY LISTED (Sept. 26 to Oct. 2, 2011)
| Address | Type | Price | Sq FT | BR | Baths |
| 18914 Longfellow Ave | Detached | $235,000 | 1232 | 3 | 1.5 |
| 16212 Lake Forest Blvd | Detached | $249,000 | 1267 | 3 | 2 |
| 3500 Red Cedar Way | Detached | $250,000 | 1769 | 3 | 2 |
| 6263 Childs Rd | Detached | $279,900 | 1600 | 3 | 2 |
| 113 Touchstone | Attached | $289,000 | 1838 | 2 | 2.5 |
| 589 Ridgeway Rd | Detached | $450,000 | 1736 | 3 | 2 |
| 13880 Knaus Rd | Detached | $520,000 | 3532 | 4 | 3.5 |
| 17160 Kelok Rd | Detached | $549,900 | 4650 | 4 | 4 |
| 3811 Carman Dr | Detached | $580,000 | 3028 | 4 | 2 |
| 17952 Cardinal Dr | Detached | $599,999 | 1702 | 4 | 2 |
| 15633 Fieldstone Dr | Detached | $618,950 | 3047 | 4 | 2.5 |
| 17601 Woodhurst Pl | Detached | 699,000 | 3272 | 3 | 2.5+.5 |
| 4767 Dogwood Dr | Detached | $839,900 | 3964 | 4 | 2.5 |
| 12900 Fielding Rd | Detached | $4,395,000 | 7527 | 6 | 7.5 |
PENDING SALES (Sept 26 to Oct 2, 2011)
| Address | Type | Price | Sq Ft | BR | Baths | CDOM |
| 12 Crestfield Ct | Condo | $44,900 | 552 | 1 | 1 | 74 |
| 48 Eagle Crest Dr 3B | Condo | $134,900 | 1489 | 2 | 2 | 37 |
| 5064 Foothills Dr H | Condo | $185,000 | 1252 | 3 | 2 | 203 |
| 4760 Lower Dr | Detached | $229,900 | 2324 | 3 | 3 | 44 |
| 3305 Upper Dr | Detached | $299,999 | 1484 | 3 | 2 | 172 |
| 1286 Rockinghorse Ln | Detached | $309,000 | 1883 | 3 | 2.5 | 316 |
| 18715 Indian Creek Dr | Detached | $339,825 | 1976 | 3 | 2 | 244 |
| 1214 Hallinan Circle | Detached | $342,000 | 1748 | 3 | 2 | 7 |
| 17071 Rebecca Ln | Detached | $379,900 | 2230 | 4 | 3 | 129 |
| 4693 Lakeview Blvd | Detached | $429,950 | 2021 | 3 | 2 | 120 |
| 4729 Firwood Rd | Detached | $489,500 | 2594 | 3 | 2.5 | 127 |
| 18462 Anduin Terr | Detached | $524,900 | 2982 | 4 | 2.5 | 71 |
| 215 Chandler Pl | Detached | $895,000 | 3118 | 3 | 2.5 | 355 |
| 1066 Northshore Rd | Detached | $1,195,000 | 4224 | 4 | 5.5 | 239 |
| 1715 Edgecliff Terr | Detached | $1,295,000 | 4929 | 4 | 4.5 | 475 |
| 2936 Lakeview Blvd | Detached | $1,888,000 | 4179 | 5 | 3.5 | 120 |
SOLD (Sept 26 to Oct 2, 2011)
| Address | Orig. Price | Sold Price | Type | Sq Ft | CDOM |
| 4454 Thunder Vista Ln | $170,000 | $157,000 | Condo | 2060 | 158 |
| 16443 Lake Forest Blvd | $249,900 | $206,000 | Detached | 1474 | 47 |
| 5139 Tualata Ln | $257,900 | $262,000 | Detached | 1524 | 6 |
| 55 Northshore Rd #4 | $289,000 | $289,000 | Condo | 1554 | 18 |
| 17095 Rebecca Ln | $399,900 | $375,000 | Detached | 2350 | 84 |
| 19285 Megly Ct | $539,900 | $479,900 | Detached | 3275 | 203 |
| 605 4th St | $525,000 | $518,000 | Detached | 1880 | 30 |
| 5511 Fieldstone Ct | $638,950 | $615,000 | Detached | 3037 | 629 |
| 17460 Wren Ct | $995,900 | $850,000 | Detached | 3305 | 180 |
| 3328 Lakeview Blvd | $3,750,000 | $2,565,000 | Detached | 6675 | 471 |
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 October 2, 2011
Along with letting you know about the open houses scheduled for this Sunday, I want to share an a quick bit of wisdom. I am currently working with an investor who is doing a 1031 exchange following the passing of his parents who were first-generation immigrants. They came to this country, worked hard, and invested in real estate. With their passing, their children are now coming into a fairly substantial amount of money. Following their parents advice, they too are investing in real estate. Their parents words of wisdom: invest in what you can sweep.
Love it!
Here are the open houses to anticipate this Sunday. Have a great weekend.
| Address | Price | Bedrooms | Baths | Open |
| 1674 Fircrest Ct | $254,900 | 4 | 2 | 1 to 3:15 |
| 2125 Wembley Pl | $349,000 | 3 | 2.5 | 1 to 3 |
| 1875 Mapleleaf Rd | $389,500 | 4 | 2 | 11 to 1 |
| 312 4th St | $399,000 | 2 | 2.5 | 1 to 3 |
| 4671 Lakeview Blvd | $429,950 | 3 | 2 | 12 to 3 |
| 908 Cumberland Pl | $474,900 | 4 | 3 | 1 to 4 |
| 5428 Southwood Dr | $575,000 | 4 | 3 | 1 to 3 |
| 15633 Fieldstone Dr | $618,950 | 4 | 2.5 | 1 to 3 |
| 17997 Braeden Ct | $619,740 | 4 | 3 | 1 to 4 |
| 5533 Fieldstone Ct | $628,950 | 4 | 2.5 | 1 to 3 |
| 15622 Fieldstone Dr | $668,950 | 3 | 2.5 | 1 to 3 |
| 14231 Dolph Ct | $685,000 | 4 | 2 | 1 to 4 |
| 5604 Grand Oaks Dr | $689,000 | 5 | 3 | 1 to 4 |
| 14599 Fosberg Rd | $759,000 | 4 | 3.5 | 1 to 3 |
| 2311 Oswego Glen Ct | $899,999 | 4 | 4 | 12 to 2 |
| 17282 Lake Haven Dr | $1,199,000 | 4 | 2.5 | 1:30 to 4 |
Featrured Neighborhood: Bryant
There are 25 neighborhoods in Lake Oswego and today I want to focus on one in particular: Bryant. Bryant is found on the South side of the lake and is bounded by Upper Drive on the North, Southshore and Kelok roads on the East, Childs and Deerbrush roads on the South, and Pilkington on the West.
There is a small commercial commercial district that allows the neighborhood to enjoy 4 excellent restaurants. LaVang’s is an institution having been opened many years ago by a Vietnamese doctor who used the proceeds to support an orphanage in Vietnam. I am not sure if the connection to the orphanage still exists, but I can tell you that the good food has remained. It has wonderful Pho and amazing salad rolls. Deno’s Pizzeria has about the best caesar salad I have ever eaten. Pine Shed Ribs serves Santa Maria Style Barbeque. And the newest addition is Oliver’s which specializes in farm to table fresh ingredients with a Mexican flair.
There are currently 22 houses for sale. The least expensive house currently for sale was built in 1952 and is a bank foreclosure. It has 2324 square feet (928 is in an unfinished basement), 3 bedrooms and 3 full baths. It is listed for $229,900.
The most expensive house currently for sale is on a canal. It was built in 1985, is on nearly half an acre with 4 bedrooms and 2.5 baths, and is listed for $1,199,000.
25 homes have sold in the last 6 months. The low sale occurred on a mid-century modern home that was built in 1962. With 1700 square feet, 3 bedrooms and 2 baths, it was listed for $229,900. It sold in just 2 days for $209,400. The most expensive sale was a 1992 built home with a brick facade and 3-car garage on a cul-de-sac. It had 4 bedrooms, 2.5 baths. Listed for $850,000, it sold in 56 days for $750,000.
I think what I like about the Bryant neighborhood is how walkable it is. Relatively flat, you can walk to the swim park or to a good restaurant in 10 to 15 minutes. I don’t live in the Bryant neighborhood, but I do live close enough that I walk through it regularly. Lamont Springs Park is a personal favorite.
Please feel free to let Linda or myself know if we’ve peaked your curiosity and would like more information about homes in this area.
Dianne
Market Activity Sept. 12-18, 2011
Last week in Lake Oswego there were 19 new listings, 13 houses that received accepted offers and went pending, and 4 closed sales.
See below for further details:
NEWLY LISTED (Sept. 12-18 2011)
| Address | Type | Price | Sq FT | BR | Baths |
| 86 Kingsgate Rd H102 | Condo | $64,900 | 849 | 2 | 2 |
| 4 Touchstone #65 | Condo | $119,900 | 1351 | 3 | 2.5 |
| 5225 Jean Rd 3308 | Condo | $179,900 | 1400 | 3 | 2 |
| 5733 Fernbrook Way | Detached | $235,000 | 1250 | 4 | 1.5 |
| 1641 Devon Ln | Detached | $239,900 | 2013 | 3 | 2.5 |
| 1127 Cedar St | Detached | $259,000 | 870 | 2 | 1 |
| 6438 Frost St | Detached | $365,000 | 2558 | 3 | 2.5 |
| 6450 Frost St | Detached | $395,000 | 2957 | 4 | 2.5 |
| 4 Hillshire Dr | Detached | $449,000 | 3084 | 4 | 2.5+.5 |
| 52 Condolea Ct | Condo | $485,000 | 2958 | 2 | 2.5 |
| 19475 Dogwood Ct | Detached | $499,900 | 3302 | 6 | 3 |
| 4 Juarez St | Detached | 520,000 | 3962 | 4 | 2.5 |
| 4120 Southshore Blvd | Detached | $525,000 | 2033 | 3 | 2 |
| 17370 Canyon Dr | Detached | $579,900 | 3408 | 4 | 3.5 |
| 1828 Palisades Terrace Dr | Detached | $599,000 | 3264 | 4 | 2.5 |
| Glenmorrie | Detached | $667,000 | 3196 | 3 | 4 |
| 14599 Fosberg Rd | Detached | $759,000 | 3453 | 4 | 3.5 |
| 19375 Eastside Rd | Detached | $799,000 | 4100 | 4 | 3.5 |
| 3122 Upper Dr | Detached | $1,075,000 | 3851 | 4 | 4 |
PENDING SALES (Sept 12-18, 2011)
| Address | Type | Price | Sq Ft | BR | Baths | CDOM |
| 4 Crestfield Ct | Condo | $84,900 | 923 | 2 | 1 | 42 |
| 4638 Lower Dr A2 | Condo | $99,000 | 1260 | 2 | 1.5 | 93 |
| 5325 Oakridge | Detached | $234,900 | 1191 | 4 | 2 | 106 |
| 3797 Lanewood St | Detached | $249,000 | 2560 | 3 | 1 | 126 |
| 1286 Rockinghorse Ln | Detached | $309,000 | 1883 | 3 | 2.5 | 302 |
| 17607 Arbor Ln | Detached | $315,000 | 1906 | 3 | 2 | 154 |
| 5011 Rosewood St | Detached | $345,000 | 1698 | 4 | 2 | 123 |
| 4734 Lakeview Blvd | Detached | $397,500 | 2787 | 3 | 1 | 155 |
| 19240 Megly Ct | Detached | $549,900 | 3633 | 5 | 3.5 | 145 |
| 5088 Woodcrest Ln | Detached | $619,900 | 3056 | 4 | 2.5 | 219 |
| 727 6th St | Detached | $679,900 | 2884 | 4 | 2 | 601 |
| 16828 Alder Circle | Detached | $1,099,000 | 2362 | 3 | 2 | 133 |
| 1066 Northshore Rd | Detached | $1,195,000 | 4224 | 4 | 5.5 | 227 |
SOLD (Sept 12-18, 2011)
| Address | Orig. Price | Sold Price | Type | Sq Ft | CDOM |
| 750 1st St D22 | $150,000 | $140,000 | Condo | 1350 | 82 |
| 17 Walking Woods Dr | $290,000 | $320,000 | Detached | 2915 | 55 |
| 19124 Megan Pl | $699,000 | $620,000 | Detached | 3584 | 104 |
| 5231 Denton Dr | $669,000 | $636,500 | Detached | 3031 | 75 |
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 Sunday, 9/18/11
There are 28 properties scheduled to be held open this Sunday. Enjoy.
| Address | Price | Bedrooms | Baths | Open |
| 16890 Cortez Ct | $299,500 | 4 | 3 | 2 to 4 |
| 2803 Orchard Hill Pl | $317,500 | 3 | 2.5 | 12 to 3 |
| 17071 Rebecca Ln | $379,900 | 4 | 3 | 1 to 4 |
| 1645 Aspen St | $419,999 | 3 | 2.5 | 12 to 2 |
| 4671 Lakeview Blvd | $429,950 | 3 | 2 | 2 to 4 |
| 19487 Dogwood Ct | $459,900 | 4 | 3 | 1 to 5 |
| 19521 Dogwood Ct | $469,900 | 5 | 2.5 | 1 to 5 |
| 31 Touchstone | $475,000 | 5 | 3 | 1 to 3 |
| 19333 Dogwood Ct | $499,900 | 5 | 3 | 1 to 5 |
| 19475 Dogwood Ct | $499,900 | 6 | 3 | 1 to 5 |
| 16925 Depot St | $499,950 | 4 | 2.5 | 2 to 4 |
| 5843 Ridgetop Ct | $499,950 | 4 | 3 | 1 to 3 |
| 18034 Westview Dr | $528,950 | 4 | 2.5 | 12 to 2 |
| 1278 Hide A Way Ln | $549,000 | 4 | 2.5 | 1:30 to 4 |
| 580 Weidman Ct | $599,000 | 5 | 3.5 | 1 to 3 |
| 1828 Palisades Terrace | $599,000 | 4 | 2.5 | 1 to 3 |
| 17997 Braeden Ct | $619,740 | 3 | 3 | 1 to 4 |
| 5533 Fieldstone Ct | $633,950 | 4 | 2.5 | 12 to 2 |
| 18009 Braeden Ct | $639,000 | 4 | 2.5 | 1 to 3 |
| 15622 Fieldstone Dr | $678,950 | 3 | 2.5 | 12 to 2 |
| 2941 Westview Circle | $689,000 | 4 | 2.5 | 2 to 4 |
| 5604 Grand Oaks Dr | $699,000 | 5 | 3 | 1 to 3 |
| 4076 Orchard Dr | $700,000 | 4 | 3.5 | 3 to 5 |
| 17090 Chapin Way | $839,000 | 4 | 3 | 12 to 3:30 |
| 17410 Upper Cherry Ln | $849,500 | 4 | 3.5+.5 | 1 to 4 |
| 17655 Kelok Rd | $949,500 | 3 | 2 | 1 to 3 |
| 1104 Forest Meadows Way | $1,495,000 | 4 | 3.5 | 2 to 4 |
| 112 Northshore Circle | $1,695,000 | 4 | 3.5+.5 | 1 to 5 |
Realtor 101
One of the most basic components of being a good Realtor is understand just who I work for. As I work with a client I find myself going back to this concept again and again. Let’s face it, a real estate transaction requires a tremendous amount of negotiation. For both the buyer and the seller, the sale is likely one of the largest and most important financial endeavors that they will do. So it has to be done right, and to their satisfaction. What I want has pretty much nothing to do with it.
So think about that. A Realtor is in a job where what they want is not important.
Fiduciary Duty
Fiduciary duty is the relationship that exists when one person puts faith and trust into another person to act on their behalf. Realtors have fiduciary duty to their clients. This is such an important element in real estate.
In a transaction I find myself thinking about my clients and their needs constantly. Will this be good for them? Will this help? Is this what they want? Often it means telling them hard information that I know will likely make them not want a house. It can mean causing a transaction to fail so that we go out and begin again. That is not necessarily good for me, but it is certainly good for my client. It’s the right thing to do.
Real Estate Agency
In Oregon we have buyer’s agents, seller’s agents, and dual agents. This was not always the case. Prior to about 1994, all Realtors worked for the seller. So even when I worked with buyers showing them houses, writing up an offer, and negotiating repairs, I was really working for the seller. It was strange.
The advent of buyer’s agency allowed Realtors to work exclusively for the buyer. This means that the Realtor who is a buyer’s agent is committed to the best interests of the buyer. It also allowed seller’s agents to do the same for the seller.
We also have what is called dual agency. This happens when a Realtor is working with a buyer who wants to buy one of that Realtors listings. In this circumstance, the Realtor would be representing both the buyer and the seller. This can only happen if both the buyer and the seller give their approval. The Fiduciary duty does not change. A dual agent must still maintain confidences about things like price and work to see to the best interests of both clients. This does not happen very often. I think in my 24 years as a Realtor I’ve done it half a dozen times.
Dual agency can also happen when a buyer’s agent sells a house that is listed by another Realtor in their office. This is because most Realtors do work in offices with multiple agents who are supervised by a Principal Broker. That Principal Broker reviews all of the paperwork of every transaction and offers supervision and guidance to the Realtors in that office. So the buyer’s agent and the seller’s agent remain just that, but the Principal Broker becomes a dual agent.
Please forgive me if this is all pretty dry. It’s the sort of thing that is not particularly exciting. But I think it is incredibly important and one of the backbones of my career.
Have a great day and thanks for reading the blotter.
Dianne
Market Activity for Aug 29 to Sept 4, 2011
Even with the Labor Day weekend last week, Lake Oswego saw quite a bit of real estate activity. 15 new listings came onto the market, 14 houses went pending, and 20 houses became closed sales. The high volume of closed sales versus new listings is likely a reflection of people wanting to move in before the start of the school year.
Also interesting, to me, was the percentage of the activity that was condos and attached homes. Condos and attached homes were 33% of the new listings, 57% of the pending sales, and 45% of the closed sales.
Last, I have to point out the 2 closed sales at $1,400,000 and $1,422,500 that sold in just 51 days and 2 days.
These are some rather positive numbers.
See below for further details:
NEWLY LISTED (August 28 to September 4, 2011)
| Address | Type | Price | Sq FT | BR | Baths |
| 47 Eagle Crest Dr #26 | Condo | $74,900 | 932 | 2 | 1 |
| 3 Oswego Summit #3 | Condo | $124,900 | 1212 | 2 | 2 |
| 19221 Redwing Ct | Detached | $329,500 | 1374 | 3 | 2 |
| 4946 Mulholland Dr | Attached | $389,900 | 2584 | 3 | 2.5 |
| 1238 Hemlock St | Detached | $399,900 | 1548 | 3 | 2 |
| 510 2nd St | Condo | $410,000 | 1520 | 2 | 2.5 |
| 4725 Cambridge Ct | Attached | $425,000 | 3056 | 2 | 2.5 |
| 5842 Meadowcreek Ct | Detached | $449,900 | 2309 | 3 | 2.5 |
| 5686 Charles Circle | Detached | $499,900 | 3246 | 4 | 3 |
| 33 Westridge Dr | Detached | $538,000 | 3864 | 5 | 3.5 |
| 1278 Hida A Way Ln | Detached | $549,000 | 2632 | 4 | 2.5 |
| 13354 Twin Creek Ln | Detached | 579,000 | 3134 | 5 | 2.5 |
| 18175 Pilkington Rd | Detached | $635,000 | 3164 | 4 | 3.5 |
| 1495 Woodland Terr | Detached | $725,000 | 3960 | 4 | 2.5 |
| 18202 Bella Terra Dr | Detached | $1,145,000 | 3863 | 4 | 3.5 |
PENDING SALES (August 29 to September 4, 2011, 2011)
| Address | Type | Price | Sq Ft | BR | Baths | CDOM |
| 12 Crestfield Ct | Condo | $48,100 | 552 | 1 | 1 | 50 |
| 47 Eagle Crest Dr #3 | Condo | $56,000 | 932 | 2 | 1 | 491 |
| 58 Galen St | Condo | $70,000 | 689 | 1 | 1 | 375 |
| 169 Oswego Summit | Condo | $89,900 | 1383 | 2 | 2 | 486 |
| 215 Cervantes | Condo | $134,999 | 1100 | 2 | 2 | 44 |
| 23 Wheatherstone | Attached | $135,000 | 1692 | 3 | 2.5 | 32 |
| 3924 Carman Dr | Attached | $145,000 | 1139 | 2 | 2.5 | 363 |
| 16443 Inverurie Rd | Detached | $180,000 | 1480 | 4 | 2 | 5 |
| 191 Oswego Summit #191 | Condo | $189,000 | 1506 | 2 | 2 | 115 |
| 16546 Bonaire Ave | Detached | $219,900 | 1064 | 3 | 1 | 5 |
| 1510 Spruce St | Detached | $269,000 | 1242 | 3 | 2 | 47 |
| 4405 Oakridge Rd Lot 20 | Attached | $410,160 | 2004 | 3 | 2.5 | 0 |
| 3811 Childs Rd | Detached | $417,000 | 2006 | 3 | 2.5 | 101 |
| 19330 Riverwood Ln | Detached | $618,900 | 3367 | 4 | 3.5 | 0 |
SOLD (August 29 to September 4, 2011, 2011)
| Address | Orig. Price | Sold Price | Type | Sq Ft | CDOM |
| 47 Eagle Crest Dr #48 | $89,500 | $47,900 | Condo | 696 | 351 |
| 4000 Carmen Dr #101 | $119,000 | $112,000 | Condo | 869 | 5 |
| 5225 Jean Rd #307 | $165,000 | $140,000 | Condo | 1100 | 210 |
| 5061 Foothills Dr G | $199,000 | $163,000 | Condo | 991 | 272 |
| 4316 Botticelli St | $209,000 | $167,000 | Condo | 2098 | 114 |
| 4322 Botticelli St | $315,000 | $230,000 | Condo | 2043 | 440 |
| 55 Northshore Rd #7 | $500,000 | $267,500 | Condo | 1478 | 1193 |
| 5368 Tree St | $269,000 | $279,000 | Detached | 1850 | 121 |
| 880 Boca Ratan Dr | $399,900 | $280,000 | Detached | 2364 | 281 |
| 2089 Glenmorrie Dr | $425,000 | $329,500 | Detached | 1551 | 412 |
| 16 Grouse Terr | $395,000 | $378,000 | Detached | 2532 | 11 |
| 4958 Bilford Ln | $379,900 | $386,000 | Detached | 1968 | 3 |
| 1677 Laurel St | $425,000 | $420,000 | Detached | 2445 | 117 |
| 173 Furnace St | $619,900 | $505,000 | Condo | 2220 | 334 |
| 17911 Hillside Dr | $569,000 | $550,000 | Detached | 3330 | 11 |
| 554 5th St | $699,000 | $625,000 | Attached | 2166 | 177 |
| 4155 Canal Rd | $850,000 | $750,000 | Detached | 3736 | 56 |
| 3168 Douglas Circle | $899,900 | $899,900 | Detached | 4331 | 0 |
| 17860 Crestline Dr | $1,475,000 | $1,400,000 | Detached | 6810 | 51 |
| 17313 Blue Heron Rd | $1,495,000 | $1,422,500 | Detached | 3480 | 2 |
Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings
Open Houses for September 4th, 2011
It sure does feel like a holiday weekend when I see just 4 houses being held open in Lake Oswego this Sunday. Make the most of it and get out to see some houses!
| Address | Price | Bedrooms | Baths | Open |
| 16890 Cortez Ct | $299,500 | 4 | 3 | 2 to 4 |
| 19443 Kokanee Ct | $405,000 | 4 | 2.5 | 1 to 4 |
| 5843 Ridgetop Ct | $499,950 | 4 | 3 | 1 to 3 |
| 17503 Cherry Ct | $799,950 | 4 | 3.5 | 2 to 5 |