With this Sunday being Mother’s Day, and the weather forecast looking like it’s going to be spectacular, this Sunday just might be the perfect time to grab your favorite Mom and go house hunting. The RMLS has 14 houses currently advertised to be open this Sunday, including 41 Hillshire, which is in this week’s featured neighborhood, Westridge.
It’s time to showcase another of Lake Oswego’s wonderful neighborhoods, Westridge. Westridge is not very large. According to city-data.com, it is just .238 of a square mile. It is bordered on the West by Bryant Rd, on the North by Royce Way, on the East by Cooks Butte Park, and on the South by Childs Rd. The population of the neighborhood is about 650 people, which translates to about 300 houses. It’s been my experience that people who live in Westridge love it. They will often move within the neighborhood rather than move out of it. So what’s the attraction?
First, it’s a very quiet area. There are no through streets that people use to get from one part of town to another. There are only neighborhood streets. So the only cars driving into the area are those of people who live there or their guests.
Second, it has two terrific parks. Cooks Butte Park is on the Eastern edge of Westridge. It’s 42 acres of natural area. It’s what is called a passive park. In other words, it is left quite natural with soft-surface trails for hiking, but not a lot of development such as picnic structures or play grounds. It is best enjoyed for the trees, the trails, and the views. The top of the park has an elevation of 718′. It’s a wonderful spot to hike up to and then sit and watch the sunset. The other park is Westridge Park. It’s adjacent to Westridge Elementary School. It’s 2.2 acres and has a playground, a volleyball area, and a soccer/little league field. This is where you take the kids to burn off some energy and to enjoy a fine, sunny afternoon.
Last is the reputation of Westridge Elementary School. It is a very highly regarded school. While the schools in Lake Oswego all have good reputations, Westridge Elementary seems to stand out. It has a Distinguished Great Schools rating of 10 out of 10, according to the website greatschools.net.
Housing in Westridge is all single family homes. There are no condominiums or apartment buildings. The pricing of what is currently for sale goes from a low of $498,500 for a 2670 square foot home with 4 bedrooms and 3 baths, to a high of $899,900 for a 3243 square foot home also with 4 bedrooms and 3 baths. I would say that the most basic criteria for the variation in pricing is whether the home has been updated or not. The neighborhood was mostly built in the 1970’s and 1980’s. So if the house still has original kitchen, baths, woodwork and windows, it is just not going to be worth as much as a house that is
all updated. I also know that there are homes in Westridge that easily exceed $1,000,000. It is just that none of the higher-end homes are currently for sale. The homes that are the most expensive often are on extremely large lots. On the South edge of Westridge are Barton and Hilltop roads. These streets have houses on acreage, and those properties more closely resemble estates.
I want to point out a house that Linda and I visited on Broker’s tour on May 5th, 9 Westminster Dr. This home is an excellent example of great value. Built in 1976, it has been extensively updated. The kitchen and baths are all recent. There is new paint and flooring. The house has 3814 square feet, with 4 bedrooms and 2 1/2 baths. Probably the most distinguishing feature is a wonderful sunroom that allows you to sit and enjoy the garden all year round. The landscaping is exceptional. There is extensive brick work in patios and outdoor entertaining areas. The yard has sprinklers and it looks to me as though a professional was involved in the layout. It is really wonderful. Priced at just $597,000 it is a stand out for value. I tell people that in this market it is both a beauty pageant and a price war. I think this house wins in both categories.
So it’s easy to see the attraction of the Westridge area. If you’d like information on homes currently for sale in Westridge, please contact either Linda or myself, and we would be happy to send you more information.
Last week brought us 20 genuinely new listings, 10 Pending sales, and 6 closed sales. It was a very slight up-tick in all 3 areas. Probably the normal activities associated with the spring market, but still well behind the spring sales of the last few years.
NEWLY LISTED (April 20—26, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
47 EAGLE CREST DR
$137,500
2
1
932
CONDO
4/26/2009
65 OSWEGO SMT
$169,900
2
2
1,140
CONDO
4/23/2009
65 CHURCH ST
$179,900
2
1.1
1,040
CONDO
4/23/2009
4000 CARMAN DR
$179,900
2
2
1,100
CONDO
4/21/2009
578 S STATE ST
$209,500
2
1
914
CONDO
4/20/2009
17928 ROYAL CT
$299,900
3
2
1,272
DETACHD
4/22/2009
16266 LAKE FOREST BLVD
$374,999
3
2
1,860
DETACHD
4/20/2009
440 BOCA RATAN DR
$419,900
3
2
1,932
DETACHD
4/20/2009
14798 DAVIS LN
$424,900
3
2.1
1,670
ATTACHD
4/22/2009
2851 PARK RD
$429,950
4
2.1
2,674
DETACHD
4/20/2009
875 LEE ST
$499,900
3
2
2,442
DETACHD
4/23/2009
9 SW WESTMINSTER DR
$597,000
4
2.1
3,814
DETACHD
4/24/2009
13275 TWIN CREEK CT
$599,000
4
2.1
3,041
DETACHD
4/25/2009
5382 ROYAL OAKS DR
$600,000
4
2.1
2,970
DETACHD
4/21/2009
17950 MEADOWLARK LN
$665,000
5
3
2,710
DETACHD
4/21/2009
2814 VALE CT
$719,900
4
3
3,192
DETACHD
4/25/2009
14135 EDENBERRY DR
$799,900
4
2.1
3,174
DETACHD
4/24/2009
17512 GREENBLUFF DR
$1,074,900
4
4
3,777
DETACHD
4/21/2009
1901 CHERYL CT
$1,399,500
4
4.1
4,863
DETACHD
4/20/2009
13575 GOODALL RD
$1,599,000
4
4.1
4,271
DETACHD
4/26/2009
PENDING SALES (April 20-26, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
table >
Address
List Price
# BR
# BTHS
Total SF
Prop Type
CDOM
4 TOUCHSTONE
$93,000
2
2
979
CONDO
10
100 KERR PKWY
$132,500
2
1.1
823
CONDO
35
204 CERVANTES
$248,900
3
1.1
1,138
CONDO
79
925 IRON MOUNTAIN BLVD
$269,900
3
2
2,070
DETACHD
626
5054 FOOTHILLS DR
$278,500
2
2
1,312
CONDO
295
820 MCVEY AVE
$299,900
3
1.1
1,446
DETACHD
489
18601 WAXWING ST
$425,000
4
2
1,908
DETACHD
26
1699 VILLAGE PARK LN
$675,000
3
2.2
2,936
DETACHD
44
5868 SUNCREEK DR
$694,000
4
2.1
3,174
DETACHD
56
115 BERWICK RD
$998,000
4
3.1
4,000
DETACHD
39
SOLD (April 20-26, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
<
Address
O/Price
Close Price
# BR
# BTHS
Total SF
Prop Type
CDOM
6317 CARMAN DR
$275,000
$219,000
3
1.1
1,344
DETACHD
77
1043 HALLINAN ST
$499,900
$385,000
4
2.1
2,484
DETACHD
196
1265 ROCKINGHORSE LN
$499,900
$395,000
4
3
2,402
DETACHD
237
845 LAKE FOREST DR
$459,000
$399,000
3
1.1
1,359
DETACHD
68
17960 RIDGE LAKE DR
$720,000
$607,500
4
2.1
3,124
DETACHD
271
1667 VILLAGE PARK LN
$1,100,000
$845,000
6
3.1
4,743
DETACHD
279
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.
While waterfront living is not for everyone, it is certainly a feature that draws people to Lake Oswego. Think about it. You are 15 minutes from downtown Portland, but you can water ski in the morning before you go to work. Or if you don’t water ski, you can canoe, and swim, and just enjoy the serenity of living with a view of the water. If you are someone who thinks living on the lake sounds like a wonderful idea, there are a few things that you’ll want to consider. I am going to discuss the 3 specific areas of the lake and the current pricing for those 3 areas. I am not going to go into the history of the lake or the details of its management. For that, I’d like to refer you back to a previous post : About the Lake.
The lake has 715 single family homes and 4 condominium developments. Of those properties, there are currently 43 houses for sale and 11 condos.
Let’s start with the Main Lake. This is where you will find the highest prices. The most expensive house for sale in the lake right now is a private island that is accessed from Northshore Rd. It’s priced at $19,500,000. The house has 13,500 square feet, with 5 bedrooms, 6 full baths, and 2 half baths. The island is pretty good sized. I recall years ago calculating that it could be divided into multiple home sites. So there is a good deal of value in the land and not just in the house. The least expensive house on the main lake is priced at $829,000. It has 2484 square feet with 4 bedrooms and 2 full baths. OK. That is just amazing. Why? Because the availability of buildable lots on the lake is extremely limited. 3 years ago there was quite a lot of buying and tearing down of old houses in order to build a new house. And the going price on the tear downs was running about $1,400,000, which made land value alone over a million dollars. So to see this house for sale for $829,000, that’s pretty amazing.
There are a couple of characteristics to houses on the main lake that affect the home that buyers select. First, the North shore of the lake has much better sun exposure. If you want to have full sun while you swim, you should look seriously at the North side. The South side has a large hill immediately South of it, which creates shade and less full sun. In addition, with the sun coming from the South, the front of the house will get more sun than the back, and the lake is on the back of the house. You should also know that on the North side there is a rail road track that runs very close to many of the houses. So if you think that the sound of a train will bother you, then you should be looking on the South side of the lake.
Beside the main lake, there are also two bays: West Bay and Lakewood Bay. The bays are not as expensive as the main lake. They have narrow inlets from the main lake that open out to create a smaller versions of the main lake. They are more shallow than the main lake. Lakewood Bay is used on the 4th of July for a water skiing exhibition. The most expensive house currently for sale on a bay is priced at $2,775,000. It has 4ooo square feet, with 4 bedrooms and 3 and 1 half baths. The least expensive is priced at $1,395,000. It has 3190 square feet, with 4 bedrooms and 3 full and 1 half baths. One of the unique areas on the bays is the Cabanas. These are homes that are built out over the water. They have a very small front yard and no backyard. Instead, they have decks that hang out over the water. You could literally fish off of your back deck. In addition, many have attached boat houses. Just like you enter a garage from a home, these cabanas allow you to get into your boat right from your house. It is an easy-care lifestyle for those who would rather go boating than mow a lawn.
Last are the houses on the Canals. There are 2 true canals and 1 that is more of an inlet. The Main Canal was originally the creek that fed Oswego Lake from the Tualatin River. The advantage to this canal is that while it has been deepend and excavated to allow boats, it is still a moving body of water. It continues to be the route for the water than comes into Oswego Lake from the Tualatin River. The other canal is Blue Heron. Blue Heron is lovely, especially where it widens out just before it goes into the lake. The canals have the most affordable waterfront houses. The most expensive is currently $1,179,000. It has 4800 square feet, with 5 bedrooms and 3 full plus 1 half baths. The least expensive is $599,000. It needs quite a bit of work, but still strikes me as an incredible deal with 3458 square feet. It has 3 bedrooms and 3 full baths.
Most of the lake is developed with single family homes, but there are Condominiums as well. There are 3 condominium developments plus a short stretch of Northshore that is a collection of duplexes, four-plexes, and very small condo complexes. All of these condominiums have some access to the lake, whether in the form of boat slips, docks, and grassy yards with picnic facilities, with the exception of the Lakewood Bay Condominiums and Lofts. That development sits next to the lake, with great views, but does not actually own any waterfront. The City owns the land between the condominiums and the lake and it is developed as a small waterfront park. Pricing for one of the condos along the lake goes from a high of $699,850 for 985 square feet with 3 bedrooms and 1 full plus 1 half bath, to a low of $219,990 for a condo that has 852 square feet with 2 bedrooms and 1 bath. The difference in pricing with these units has a lot to do with how well they can actually see the lake. The expensive ones have full views and perhaps even a private boat slip. The less expensive ones are going to be in the back of the complex with a peek-a-boo view, if any view at all.
I hope this helps you to get a sense of what pricing is like to live on Oswego Lake. I’ve been around Lake Oswego for a very long time. One of the things I see is that when people want to live on the lake, they often start out in a condominium or along a canal. And then as they mature and their income increases, they move to get onto the main lake. I also know of one couple who buys the run down houses and lives in them while they fix them up. They have lived in many homes on the lake, and made a good deal of money too.
There are two more things I want you to keep in mind. First, when you buy a house (not a condo) on the lake, you will have to pay a 1-time fee of $5000. Second, remember that the sewer interceptor project is going to require that the water level be drawn down for a period of several months. This is going to happen in the next couple of years. For details, please go to one of our previous postings, Where did the Lake go?
So as the nice weather begins to make being out doors nicer and nicer, you may want to think about ways to enjoy Oswego Lake. And one of those ways is to find a way to actually live on it.
It feels like the new listings are coming onto the market in a fairly consistent way with 15 to 20 new listings, not “refreshed” but actually new, each week. Last week we saw 16 new listings. There were 4 pending sales and 5 closed listings. I keep waiting to see evidence of the spring market kicking in. That would be reflected in an increase in both pending and closed sales. So far, it remains a bit sluggish. On the plus side, we have one pending sale at close to $1,000,000. The remainder of the pending and closed sales continue to favor the more moderately priced homes. I am also continuing to see that the cumulative days on the market continue to embrace both extremes. It seems like houses that were over-priced, and that have gradually bitten the bullet to bring the price down to a point where price meets market demand, are selling with very long market times. The other extreme are the new listings that are able to look at current market conditions, price realistically, and are selling in a very short period of time.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (April 6—April 12, 2009)
Address
List Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
4 TOUCHSTONE
$93,000
2
2
979
CONDO
4/10/2009
3433 MCNARY PKWY
$169,900
2
2
1,008
CONDO
4/8/2009
18055 CENTRAL AVE
$299,000
2
2
1,202
DETACHD
4/10/2009
15256 BOONES WAY
$339,900
2
2.1
1,600
ATTACHD
4/12/2009
1716 HALLINAN ST
$369,500
3
3
1,916
DETACHD
4/10/2009
4105 DOUGLAS WAY
$384,900
7
2.1
2,856
DETACHD
4/12/2009
54 AQUINAS ST
$499,900
3
2.1
2,802
DETACHD
4/7/2009
6 NORTHVIEW CT
$525,000
4
3.1
3,188
DETACHD
4/10/2009
73 TANGLEWOOD DR
$539,000
4
3.1
3,576
DETACHD
4/9/2009
1025 C AVE
$549,000
3
2
2,261
DETACHD
4/7/2009
2925 ORCHARD HILL PL
$549,000
3
2.1
2,418
DETACHD
4/9/2009
4 DA VINCI ST
$599,950
5
3
3,100
DETACHD
4/6/2009
13456 PROVINCIAL HILL WAY
$639,900
3
2.1
2,771
DETACHD
4/6/2009
18402 ANDUIN TER
$699,995
5
3.1
4,302
DETACHD
4/6/2009
18025 SKYLAND CIR
$1,425,000
4
3.2
5,379
DETACHD
4/6/2009
616 CABANA LN
$2,795,000
5
4
3,800
DETACHD
4/6/2009
PENDING SALES (April 6—April 12, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQFT
PROP TYPE
DOM
Address
List Price
# BR
# BTHS
Total SF
Prop Type
CDOM
3190 DUNCAN DR
$259,900
3
2.1
2,401
DETACHD
115
17079 CHERRY CREST AVE
$430,000
3
2.1
3,002
DETACHD
154
615 LAKE BAY CT
$599,000
3
3
2,542
DETACHD
323
716 MCVEY AVE
$959,998
3
2
2,348
DETACHD
805
SOLD (April 6—April 12, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# BR
# BTHS
Total SF
Prop Type
CDOM
4640 LOWER DR
$189,900
$115,000
2
1.1
1,170
CONDO
572
127 OSWEGO SMT
$184,900
$179,595
2
2
1,212
CONDO
0
5063 FOOTHILLS DR
$230,000
$225,000
2
2
991
CONDO
8
16 PARTRIDGE LN
$418,900
$398,000
3
2.1
2,304
DETACHD
48
731 F AVE
$939,000
$605,000
4
2.1
2,668
DETACHD
327
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. CDOM stands for cumulative days on market, which includes any re-listing and measures from the initial listing date.
Yes, it does say open house and not open houses. It must be Easter Sunday because there is only one house being promoted for an open house this Sunday, in Lake Oswego, by the RMLS. I hope everyone will go by and tell this Realtor that they are giving it a great effort by being there on Easter. The property is at:
Two weeks ago I posted information about Tryon Creek State Park and mentioned that there are two neighborhoods in Lake Oswego with trail access into the Park. One is First Addition and the other is Forest Highlands. In our archives you’ll find a neighborhood profile for First Addition, and now you will also find this one for Forest Highlands.
Forest Highlands is located on the North side of Lake Oswego. It’s Southern boundary is Country Club Rd. It’s Western boundary is Boones Ferry Rd. It’s Northern boundary is the city limits, and it’s Eastern boundary is First Addition. It is 1.198 square miles in size.
The most striking characteristic of the neighborhood is that the houses are mostly situated on large lots. To put this into perspective, the average density of the population of Lake Oswego is 3410 people per square mile. In Forest Highlands it is 1353 people per square mile. Fewer people and fewer homes means that the area feels spacious: not at all like a subdivision. It feels like an area of fine estates. That is not to say that all of the houses are mansions.
There is, in fact, a beautiful condominium development in Forest Highlands, Red Fox Hills. The condominiums are all townhouse style: they are attached on the sides but do not have neighbors above or below. Amenities include expansive lawns and gardens as well as a pool and a recreation facility. Current pricing ranges from $226,000 for a 2 bedroom, bath and a half unit, to $399,000 for a 3 bedroom, 2 full bath unit. All units have garages.
For detached homes the range is much more broad. The least expensive house currently listed is $439,800. Built in 1973, it has 1812 square feet with 3 bedrooms and 2 baths. It’s on a cul-de-sac and the lot is .28 of an acre. The most expensive currently listed is $2,995,000. It was built in 2006 with 7582 square feet, 6 bedrooms and 5 and a half baths. It’s on 1.89 acres.
Besides large lots, another characteristic of the area is that many homes have Mt. Hood views. The entire neighborhood is located on a gentle slope that faces East. Not all houses have views, but a surprising number of them do.
Then I like the street names: Hideaway Ct, Tippecanoe Ct, Dapple Grey Ln, Pebble Beach Ct, Rockinghorse Ln. Who wouldn’t want to live on Hideaway Ct? Except for Livingood Lane over in the Palisades neighborhood, I think Tippecanoe Ct is my favorite street name in Lake Oswego.
And then there is that wonderful proximity to Tryon Creek Park. The entrance from Forest Highlands is at the turn about at the end of Boca Ratan Dr (right behind Red Fox Hills).
It’s just a very pretty area. As you know if you have been looking at real estate in Oregon, or if you live in Oregon, our land use laws have created fairly high-density housing in order to preserve more of our farms and forests. So when a client asks me to recommend homes with larger lots, lots as big as an acre, the first neighborhood that comes to my mind in Lake Oswego is Forest Highlands.
Last week was spring break for the Lake Oswego School District and it kept the market a bit quiet. 15 new listings, 6 pending sales, and 2 closed listings made for a rather slow week. That being said, once spring break is over, it is traditionally the time of year when the market picks up steam. The daffodils are in full bloom with tulips and rhododendrons soon to follow. Houses really look good in the spring and many home owners time selling their homes around the season when their yards show their home at its best. Both new listings and pending sales should pick up as the weather improves.
Here is your summary of last weeks activity:
NEWLY LISTED (March 23—March 29, 2009)
Address
List Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
7 CRESTFIELD CT
$115,000
1
1
689
CONDO
3/28/2009
1033 YATES ST
$199,900
4
3.1
2,500
DETACHD
3/26/2009
3433 MCNARY PKWY
$199,950
2
2.1
1,208
CONDO
3/27/2009
4041 JEFFERSON PKWY
$229,000
1
1.1
1,041
ATTACHD
3/26/2009
4316 BOTTICELLI ST
$274,900
3
2.1
2,098
CONDO
3/23/2009
103 KINGSGATE RD
$319,000
3
2.1
1,352
DETACHD
3/27/2009
5 PEACOCK PL
$330,000
4
2.1
1,760
DETACHD
3/29/2009
3290 WEMBLEY PARK RD
$379,000
5
3
2,614
DETACHD
3/23/2009
17311 ASHLEY CT
$385,000
4
2.1
2,160
ATTACHD
3/27/2009
18601 WAXWING ST
$447,000
4
2
1,908
DETACHD
3/27/2009
1250 PINE ST
$499,000
4
3
2,856
DETACHD
3/26/2009
17859 HILLSIDE WAY
$539,000
5
3
3,418
DETACHD
3/23/2009
12647 SW 21ST CT
$649,900
5
2.1
3,212
DETACHD
3/23/2009
1918 INDIAN TRAIL
$1,095,000
3
3
3,094
DETACHD
3/25/2009
3545 RED CEDAR WAY
$1,350,000
5
4.5
4,625
DETACHD
3/24/2009
PENDING SALES (March 23—March 29, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQFT
PROP TYPE
DOM
Address
List Price
# BR
# BTHS
Total SF
Prop Type
CDOM
47 EAGLE CREST DR
$137,900
2
1
947
CONDO
56
5831 SEVILLE AVE
$199,900
4
1
1,320
DETACHD
211
6317 CARMAN DR
$219,900
3
1.1
1,344
DETACHD
168
5235 OAKRIDGE RD
$304,900
3
2.1
1,576
DETACHD
129
13805 REGENCY CT
$399,000
4
2.1
2,045
DETACHD
29
17960 RIDGE LAKE DR
$634,900
4
2.1
3,124
DETACHD
271
SOLD (March 23—March 29, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# BR
# BTHS
Total SF
Prop Type
CDOM
4 TOUCHSTONE DR
$194,900
$153,000
3
2.1
1,351
CONDO
45
16840 ALDER CIR
$1,749,000
$1,555,000
4
2.1
3,563
DETACHD
249
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. CDOM stands for cumulative days on market, which includes any re-listing and measures from the initial listing date.
It’s time to showcase another of Lake Oswego’s wonderful neighborhoods, Westridge. Westridge is not very large. According to 
Second, it has two terrific parks. Cooks Butte Park is on the Eastern edge of Westridge. It’s 42 acres of natural area. It’s what is called a passive park. In other words, it is left quite natural with soft-surface trails for hiking, but not a lot of development such as picnic structures or play grounds. It is best enjoyed for the trees, the trails, and the views. The top of the park has an elevation of 718′. It’s a wonderful spot to hike up to and then sit and watch the sunset. The other park is Westridge Park. It’s adjacent to Westridge Elementary School. It’s 2.2 acres and has a playground, a volleyball area, and a soccer/little league field. This is where you take the kids to burn off some energy and to enjoy a fine, sunny afternoon.
Housing in Westridge is all single family homes. There are no condominiums or apartment buildings. The pricing of what is currently for sale goes from a low of $498,500 for a 2670 square foot home with 4 bedrooms and 3 baths, to a high of $899,900 for a 3243 square foot home also with 4 bedrooms and 3 baths. I would say that the most basic criteria for the variation in pricing is whether the home has been updated or not. The neighborhood was mostly built in the 1970’s and 1980’s. So if the house still has original kitchen, baths, woodwork and windows, it is just not going to be worth as much as a house that is
I want to point out a house that Linda and I visited on Broker’s tour on May 5th, 9 Westminster Dr. This home is an excellent example of great value. Built in 1976, it has been extensively updated. The kitchen and baths are all recent. There is new paint and flooring. The house has 3814 square feet, with 4 bedrooms and 2 1/2 baths. Probably the most distinguishing feature is a wonderful sunroom that allows you to sit and enjoy the garden all year round. The landscaping is exceptional. There is extensive brick work in patios and outdoor entertaining areas. The yard has sprinklers and it looks to me as though a professional was involved in the layout. It is really wonderful. Priced at just $597,000 it is a stand out for value. I tell people that in this market it is both a beauty pageant and a price war. I think this house wins in both categories.
While waterfront living is not for everyone, it is certainly a feature that draws people to Lake Oswego. Think about it. You are 15 minutes from downtown Portland, but you can water ski in the morning before you go to work. Or if you don’t water ski, you can canoe, and swim, and just enjoy the serenity of living with a view of the water. If you are someone who thinks living on the lake sounds like a wonderful idea, there are a few things that you’ll want to consider. I am going to discuss the 3 specific areas of the lake and the current pricing for those 3 areas. I am not going to go into the history of the lake or the details of its management. For that, I’d like to refer you back to a previous post : 
Let’s start with the Main Lake. This is where you will find the highest prices. The most expensive house for sale in the lake right now is a private island that is accessed from Northshore Rd. It’s priced at $19,500,000. The house has 13,500 square feet, with 5 bedrooms, 6 full baths, and 2 half baths. The island is pretty good sized. I recall years ago calculating that it could be divided into multiple home sites. So there is a good deal of value in the land and not just in the house. The least expensive house on the main lake is priced at $829,000. It has 2484 square feet with 4 bedrooms and 2 full baths. OK. That is just amazing. Why? Because the availability of buildable lots on the lake is extremely limited. 3 years ago there was quite a lot of buying and tearing down of old houses in order to build a new house. And the going price on the tear downs was running about $1,400,000, which made land value alone over a million dollars. So to see this house for sale for $829,000, that’s pretty amazing.
There are a couple of characteristics to houses on the main lake that affect the home that buyers select. First, the North shore of the lake has much better sun exposure. If you want to have full sun while you swim, you should look seriously at the North side. The South side has a large hill immediately South of it, which creates shade and less full sun. In addition, with the sun coming from the South, the front of the house will get more sun than the back, and the lake is on the back of the house. You should also know that on the North side there is a rail road track that runs very close to many of the houses. So if you think that the sound of a train will bother you, then you should be looking on the South side of the lake.
feet, with 4 bedrooms and 3 and 1 half baths. The least expensive is priced at $1,395,000. It has 3190 square feet, with 4 bedrooms and 3 full and 1 half baths. One of the unique areas on the bays is the Cabanas. These are homes that are built out over the water. They have a very small front yard and no backyard. Instead, they have decks that hang out over the water. You could literally fish off of your back deck. In addition, many have attached boat houses. Just like you enter a garage from a home, these cabanas allow you to get into your boat right from your house. It is an easy-care lifestyle for those who would rather go boating than mow a lawn.
square feet, with 5 bedrooms and 3 full plus 1 half baths. The least expensive is $599,000. It needs quite a bit of work, but still strikes me as an incredible deal with 3458 square feet. It has 3 bedrooms and 3 full baths.
I hope this helps you to get a sense of what pricing is like to live on Oswego Lake. I’ve been around Lake Oswego for a very long time. One of the things I see is that when people want to live on the lake, they often start out in a condominium or along a canal. And then as they mature and their income increases, they move to get onto the main lake. I also know of one couple who buys the run down houses and lives in them while they fix them up. They have lived in many homes on the lake, and made a good deal of money too.
It feels like the new listings are coming onto the market in a fairly consistent way with 15 to 20 new listings, not “refreshed” but actually new, each week. Last week we saw 16 new listings. There were 4 pending sales and 5 closed listings. I keep waiting to see evidence of the spring market kicking in. That would be reflected in an increase in both pending and closed sales. So far, it remains a bit sluggish. On the plus side, we have one pending sale at close to $1,000,000. The remainder of the pending and closed sales continue to favor the more moderately priced homes. I am also continuing to see that the cumulative days on the market continue to embrace both extremes. It seems like houses that were over-priced, and that have gradually bitten the bullet to bring the price down to a point where price meets market demand, are selling with very long market times. The other extreme are the new listings that are able to look at current market conditions, price realistically, and are selling in a very short period of time.
Two weeks ago I posted information about Tryon Creek State Park and mentioned that there are two neighborhoods in Lake Oswego with trail access into the Park. One is First Addition and the other is Forest Highlands. In our archives you’ll find a neighborhood profile for 
There is, in fact, a beautiful condominium development in Forest Highlands, Red Fox Hills. The condominiums are all townhouse style: they are attached on the sides but do not have neighbors above or below. Amenities include expansive lawns and gardens as well as a pool and a recreation facility. Current pricing ranges from $226,000 for a 2 bedroom, bath and a half unit, to $399,000 for a 3 bedroom, 2 full bath unit. All units have garages.
And then there is that wonderful proximity to Tryon Creek Park. The entrance from Forest Highlands is at the turn about at the end of Boca Ratan Dr (right behind Red Fox Hills).