Author: Dianne Gregoire

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Preparing Your House for the Home Inspection

blog flowersThe last 12 months have been a pretty rough time to be selling a home.  Your home may have even been on the market for a period of time longer than you ever thought possible.  But now you’ve gotten a good offer that you have accepted.  This is a key time in any home sale.  You must now get your home to pass the home inspection.   I want to give you a list of 10 simple repairs you can do to prepare your home as well as a few things to do on the day of the inspection.

10 simple repairs to do before the home inspection:

1.  Prune vegetation away from the house.

2.  Clean the gutters.

3.  Replace or clean any dirty furnace filters.

4.  Install missing covers on electrical switches, outlets, and junction boxes.

5.  Replace all smoke alarms installed before January 1, 2002 to comply with current standards.

6.  Replace burned out light bulbs.

7.  Pull soil 6″ away from the siding, basement windows, foundation vents, and decks.

8.  Install 6mil. black, plastic vapor barrier in the crawlspace over exposed soil.

9.  Install earthquake straps on the water heater.

10. Repair leaking faucets.

On the day of the inspection:

1.  Remove any belongings that block access to the furnace, water heater, electrical panel, attic and crawl spaces so the inspector may get to these areas.

2.  Verify the gas, water, and electricity are on, even in vacant homes.

3.  Make sure all gas pilot lights are lit.

4.  Make sure that all appliances normally operated by you can be tested as needed.

It is normal to feel a bit stressed when your home is inspected, but you can greatly increase a positive outcome on the inspection if you do a little prior planning.  And a good home inspection directly affects your ability to maximize the proceeds that you will receive from the sale of your home.  It is worth the time, effort, and a few dollars that it takes to get your home ready.

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Market Activity for July 13-19, 2009

Last week continued to set a nice summer pace with 29 new listings, 16 pending sales, and 7 closed sales.

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (July 13—July 19, 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 $119,900 2 1 932 CONDO 7/16/2009
44 EAGLE CREST DR $139,900 2 1 908 CONDO 7/13/2009
15230 BOONES WAY $164,900 2 2 1,185 CONDO 7/17/2009
141 OSWEGO SMT $169,900 2 2 1,140 CONDO 7/17/2009
4330 COUNTRY WOODS CT $239,900 3 1 1,200 DETACHD 7/13/2009
26 WHEATHERSTONE $265,000 3 2.1 1,692 CONDO 7/15/2009
805 SW COUNTRY CLUB RD $279,900 3 2 1,981 DETACHD 7/13/2009
23 MOUNTAIN CIR $279,900 2 2 1,300 DETACHD 7/18/2009
25 ORIOLE LN 320000 3 2 1,460 DETACHD 7/18/2009
150 KINGSGATE RD 324900 3 2 1,502 DETACHD 7/17/2009
116 TOUCHSTONE TER 350000 3 2.1 1,856 ATTACHD 7/15/2009
10 Oriole LN 369000 2 2 1,654 ATTACHD 7/14/2009
44 ORIOLE LN 379800 3 2.1 2,224 DETACHD 7/15/2009
9 DA VINCI ST 399900 3 2 1,768 DETACHD 7/16/2009
16953 KARA LN 409900 4 2.1 2,614 DETACHD 7/18/2009
20 HOTSPUR ST 425000 4 2.1 2,456 DETACHD 7/17/2009
5807 RIDGETOP CT 479900 4 2.1 2,650 DETACHD 7/19/2009
1921 GLENMORRIE LN 499000 3 3 2,395 DETACHD 7/13/2009
1508 PINE ST 599000 3 2.1 2,300 DETACHD 7/15/2009
20 DA VINCI ST 599900 5 3 3,089 DETACHD 7/15/2009
2130 HILLSIDE CT 675000 5 2.2 3,954 DETACHD 7/13/2009
5831 SUNCREEK DR 685000 4 2.1 2,733 PUD 7/14/2009
108 3RD ST 829000 1 1 975 DETACHD 7/15/2009
106 3RD ST 875000 2 2 1,495 DETACHD 7/16/2009
1151 CHERRY CIR 895000 4 3.1 4,009 DETACHD 7/16/2009
1687 VILLAGE PARK LN 975000 4 3 3,362 DETACHD 7/18/2009
17537 CARDINAL DR 995000 5 4 5,282 DETACHD 7/14/2009
18000 EASTRIDGE LN 2350000 4 5.1 5,554 DETACHD 7/15/2009
14242 BRIDGE CT 2395000 5 3.2 6,139 DETACHD 7/16/2009

PENDING SALES (July 13-July 19, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
 PROP TYPE
DOM

SOLD (July 13-July 19, 2009)

Address List Price # BR # BTHS Total SF Prop Type List Date CDOM
4 TOUCHSTONE DR $133,500 3 2.1 1,351 CONDO 1/26/2009 170
4 TOUCHSTONE $179,900 3 2.1 1,351 CONDO 6/24/2009 23
4041 JEFFERSON PKWY $210,000 1 1.1 1,041 CONDO 7/1/2009 14
16250 PACIFIC HWY $228,850 2 2 1,311 CONDO 9/24/2007 664
2071 BONNIEBRAE DR $295,000 3 2 1,611 CONDO 7/1/2009 392
1140 HALLINAN CT $339,895 3 2 1,875 DETACHD 6/21/2009 127
15265 BOONES WAY $349,900 2 2.1 1,560 ATTACHD 6/1/2009 46
6310 CARMAN DR $349,900 3 2.2 1,270 DETACHD 6/9/2009 36
12537 27TH PL 369000 4 2.1 2,375 DETACHD 7/2/2009 12
5214 LOWER DR 419900 4 2.1 2,904 DETACHD 3/19/2009 116
13500 TWIN CREEK LN 564900 4 2.1 3,049 DETACHD 5/2/2009 77
22 INDEPENDENCE AVE 699000 7 4.1 4,066 DETACHD 6/21/2009 26
17259 LOWENBERG TER 799000 4 2.1 2,955 DETACHD 6/9/2009 297
2 GROUSE TER 799000 – 850000 4 3 4,446 DETACHD 3/17/2009 119
3973 CHILDS RD 950000 4 3.1 3,861 DETACHD 5/29/2009 49
1933 SUMMIT DR 1675000 5 4.1 4,925 DETACHD 6/18/2009 26
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
44 EAGLE CREST DR $149,500 $130,000 1 1 798 CONDO 122
668 MCVEY AVE $399,850 $365,000 3 1.1 985 CONDO 19
4181 COBB WAY $429,000 $405,000 4 3 2,248 DETACHD 28
815 10TH ST $589,900 $406,500 3 2 2,190 DETACHD 298
2860 DELLWOOD DR $505,000 $500,000 4 2.1 2,966 DETACHD 34
17751 MARYLCREEK DR $719,000 $692,000 4 3 3,505 DETACHD 112
15535 VILLAGE DR $1,195,000 $760,000 5 3 3,421 DETACHD 411

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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Lake Oswego Open Houses for July 19th

goldendiningroom2While today I am posting our regular list of the Lake Oswego Open Houses as advertised in the RMLS, I want to take a moment to discuss open houses in general.  Open houses are probably one area in which Realtors really differ on their opinions.  I have known agents who absolutely refuse to do them.  One man in particular had a sign he took to listing appointments that had the words “Open House” with a big red circle and a diagonal line across the words.  He was making it very clear that there was no way he would ever do an open house.   I happen to have the exact opposite opinion.  I happen to think that they work.  Sure, you get the neighbors and the “Lookie Lou’s”, but you also get lots of great exposure to a property that needs to be sold.  I think the key is to advertise the open house so that a good percentage of the people who show up are real buyers who know the price and size of the property before they get there.  I hold homes open pretty much every Sunday.  I believe that on average I sell at least one listing a year off of my open houses.  In fact, I sold a house in Lake Oswego about 3 weeks ago as a result of my open house.  So I think that open houses do have value.

With that in mind, here are the homes that you will find open this Sunday in Lake Oswego.  Please make special note of 4447 Golden Lane, my listing, which I will be holding open from 2 to 5pm.

89 Galen St, $102,500.  1 BR, 1 BTH, 550 square feet, open noon-4

1597 Bonniebrae Dr, $230,000.  2 BR, 1 BTH, 998 square feet, open 1-3

4447 Golden Ln, $239,000.  2 BR, 2.5 BTHS, 1980 square feet, open 2-5

4 Weatherstone, $334,950. 3 BR, 2.5 BTHS, 1692 square feet, open 1-3

13448 61st, $335,000. 3 BR, 3 BTHS, 1911 square feet, open 1-4

17088 Rebecca Ln, $479,000. 4 BR, 3 BTHS, 2554 square feet, open 1:30-3:30

624 Livingood Ln, $534,000. 4 BR, 3 BTHS, 2596 square feet, open 1:30-3:30

11 Morningview Cir, $547,000. 3 BR, 2.5 BTHS, 2921 square feet, open 1-3

535 B Ave, $649,000. 2 BR, 2.5 BTHS, 1691 square feet, open 2-4

580 Weidman Ct, $659,000. 5 BR, 3.5 BTHS, 3952 square feet, open 2-4

220 Greenwood Rd, $749,900. 3 BR, 4 BTHS, 2639 square feet, open 1-3

3270 Lakeview Blvd. $1,275,000. 3 BR, 3 BTHS, 3295 square feet, open 3-5

624 Atwater Rd, $1,338,000. 5 BR, 3.5 BTHS, 4465 square feet, open 12:30-2:30

17642 Upper Cherry Ln, $1,375,000. 3 BR, 3.5 BTHS, 3936 square feet, open 3-5

2811 Arrowhead Ct, $1,399,000. 4 BR, 3.5 BTHS, 3740 square feet, open noon-2

18024 Skyland Cir, $1,699,000. 4 BR, 3 full+2 half BTHS, 4131 sq. feet. open 2-5

I’ll hope to see you on Sunday!

Dianne

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Featured Home in Southwood Park

62nd-parkAre you wanting to enroll your children in the Lake Oswego School District, but are concerned about finding a home that is large enough, that you can also afford?  Look no further.  A home that fits this profile has come onto the market.

Southwood Park

The Southwood Park neighborhood is actually an area of unincorporated Clackamas County.  It is just North of Westlake and just West of Mountain Park.  The street boundaries are Kruse Ridge Dr to the North, Sierra Vista/Twin Creek to the East, Pamela to the South and I-5 to the West.  At the South end is Southwood Park, a City of Lake Oswego Park with 2.5 acres of woods and grassy open areas.

Because it is an unincorporated part of Clackamas County, it tends to have lower property taxes.  But because it is in the Lake Oswego School District, it is highly desirable and popular for all manner of families.  One important note:  not all houses in Southwood Park are in the LO School District.  At the North end some homes are in the Portland School District.  So be sure to confirm the school attendance for the home you are interested in.

You should also be aware that it has extremely easy access to I-5, Hwy 217 and the Kruse Way business community.  It is also close enough to Portland Community College Sylvania Campus that the school can be accessed via trails on foot or on bike.

As for real estate, when I think of Southwood Park, I think of great value for the dollar that you spend.  An excellent example of this is in today’s Featured Property:  13638 SW 62nd.

62nd-front2Featured Home

This new listing has 4 bedrooms and 3 full baths.  With2268 square feet, it also has a formal living room and 2 family rooms, all of which have either got a wood burning fireplace or a wood stove.  The roof was replaced in 1998 with a 50-year metal roof.  The windows were replaced in 2003, the deck in 2007, and the gutters in 2008.  This summer the house has been totally repainted both inside and out.  The lot is about 7000 square feet and is extremely private with mature landscaping.  It sits just a short distance from Southwood Park.

I have confirmed that this home is located within the Lake Oswego School District.  The elementary school is Oak Creek, the junior high is Lake Oswego Junior High School, and the high school is Lake Oswego High School.

Think about all of that space with lots of bedrooms and plenty of living areas.  That’s a nice big house that could easily house 4 to 6 people.  And the list price is just $319,900!  It is just a great home for the money.  Please let me know if you have any interest in further information.  I’d be happy to send you a copy of the listing or to arrange for you to see the interior.   E-mail me at jdgregoire@earthlink.net .

If you’d like to do a drive through the neighborhood, feel free to take a swing past this house.  From Kruse Way in Lake Oswego go North on Westlake Dr.  Turn West on Southwood Dr and then left again on SW 62nd.  The house is all the way down the street, on your left, near the park:  13638 SW 62nd Ave.

Happy house hunting,

Dianne

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Market Activity for June 29th to July 5th, 2009

Even with the long, holiday weekend, last week’s real estate activity in Lake Oswego was fairly strong. There were 17 new listings, 7 pending sales, and 14 closed sales.

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (June 29—July 5, 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
45 CRESTFIELD CT $145,000 2 1 923 CONDO 7/3/2009
45 EAGLE CREST DR $224,000 3 2 1,348 CONDO 7/4/2009
1597 BONNIEBRAE DR $230,000 2 1 998 CONDO 7/1/2009
16600 BRYANT RD $249,900 3 2 1,877 DETACHD 7/1/2009
5064 FOOTHILLS DR $255,900 3 2 1,252 CONDO 7/3/2009
4090 WESTBAY RD $299,900 2 1 917 DETACHD 7/3/2009
12537 27TH PL $369,000 4 2.1 2,375 DETACHD 7/2/2009
17650 ARBOR LN $379,900 3 3 2,043 DETACHD 7/1/2009
28 PREAKNESS CT $435,000 5 4 2,871 DETACHD 7/2/2009
5709 CHARLES CIR $593,500 4 2.1 3,380 DETACHD 7/3/2009
725 10TH ST $619,900 4 2 2,000 DETACHD 7/3/2009
691 G AVE $639,000 3 2.1 2,775 DETACHD 7/1/2009
117 FURNACE ST $695,000 2 2.1 1,885 CONDO 7/3/2009
5218 WESTFIELD CT $765,000 3 2.1 3,083 DETACHD 7/3/2009
163 IRON MOUNTAIN BLVD $799,000 3 1.1 1,968 DETACHD 6/29/2009
1225 LAKE GARDEN CT $1,150,000 4 3.2 3,558 DETACHD 7/1/2009
1972 CHERYL CT $2,900,000 5 4.1 7,400 DETACHD 7/2/2009

PENDING SALES (June 29-July 5, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
 PROP TYPE
DOM
Address List Price # BR # BTHS Total SF Prop Type CDOM
750 1ST ST $189,900 2 2 1,350 CONDO 173
1897 BOCA RATAN DR $214,100 3 2.1 1,739 ATTACHD 77
6025 SW CARMAN DR $229,900 3 1.1 1,346 DETACHD 86
16501 LAKE FOREST BLVD $299,900 3 1 1,429 DETACHD 52
4959 BILFORD LN $519,000 3 2.1 2,456 DETACHD 45
14232 MEADOW GRASS ST $530,000 4 3 2,965 DETACHD 298
3155 DOUGLAS CIR $999,000 5 3.2 4,517 DETACHD 385

SOLD (June 29-July 5, 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
4000 CARMAN DR $189,900 $130,000 2 2 925 CONDO 699
83 OSWEGO SMT $191,500 $179,000 2 2 1,140 CONDO 280
668 MCVEY AVE $229,900 $199,900 2 1 852 CONDO 765
200 Burnham RD $320,000 $205,850 2 2 1,313 CONDO 682
152 RIDGEWAY RD $449,500 $225,000 2 1.1 1,794 CONDO 766
1602 BONNIEBRAE DR $240,000 $230,000 2 1 864 ATTACHD 256
103 KINGSGATE RD $319,000 $282,000 3 2.1 1,352 DETACHD 56
18791 INDIAN CREEK WAY $439,900 $413,500 3 2 1,965 DETACHD 63
4070 WESTBAY RD 449996 418040 3 2 1,828 DETACHD 33
17825 SARAH HILL LN 464900 471100 4 2.1 2,525 DETACHD 5
1245 BAYBERRY RD 639000 510000 3 2 1,728 DETACHD 342
12424 SW 22ND AVE $1,350,000 745000 5 4.1 4,771 DETACHD 331
5513 RACHEL LN $989,000 749500 4 2.1 3,149 DETACHD 435
18025 SKYLAND CIR $1,749,000 1200000 4 3.2 5,379 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, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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Open Houses for July 5th, 2009

Along with enjoying hot dogs, sparklers, and Old Glory this weekend, there are 6 houses being held open on the day after the 4th of July:

668 McVey Ave., $399,850.  985 sq. feet, 3 BR, 1.5 BTHS, open 1-3

11 Morningview Circle, $547,000. 2921 sq. feet, 3 BR, 2.5 BTHS, open 1-3

624 Livingood Ln., $549,000.  2596 sq. feet, 4 BR, 3 BTHS, open 1:30-3:30

26 Westridge Dr., $549,900.  2862 sq. feet, 4 BR, 3 BTHS, open 1-3

475 10th St., $593,950.  2932 sq. feet, 4 BR, 2.5 BTHS, open noon-2

511 6th St., $896,950. 4000 sq. feet, 5 BR, 3.5 BTHS, open noon-2

Have a safe and happy 4th of July.  Remember there will be a fireworks display over the lake at about 10pm.  There is great viewing from the many streets that surround the lake, from the Lakeview Swim Park, and even from surrounding hillsides.  Enjoy!

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Observations on Inventory, the S & P Price Index, and Broken Sewers, Oh My!

Today’s editorial post is going to be a bit of a potpouri of information.  There were just so many nice tidbits, I couldn’t seem to pick just one.

Observations On Current Inventory

Last February I ran the break down of the Inventory in Lake Oswego.  At that time there were 418 detached homes for sale.  I think my biggest concern was that of those homes 136 were priced at $1,000,000 or more.  That is a lot of high-end homes.  And that seems to be the slowest part of the market that is selling.  What’s it look like today?  Not much has changed.  While sales have picked up a bit, the number of new listings coming onto the market is keeping the inventory from diminishing.  Here is today’s breakdown:

Homes priced $100,000-$199,000, 1

Homes priced $200,000-$299,000, 19

Homes priced $300,000-$399,000, 46

Homes priced $400,000-$499,000, 54

Homes priced $500,000-$599,000, 51

Homes priced $600,000-$699,000, 38

Homes priced $700,000-$799,000, 35

Homes priced $800,000-$899,000, 30

Homes priced $900,000-$999,000, 31

Homes priced $1,000,000+, 135

That is a total inventory of detached homes of 440 with 135 priced at over $1,000,000.  Probably the most interesting observation that I see is that while we have 22 more homes for sale, the $1,000,000+ is about the same.  Perhaps people listing their homes this spring are being a bit more realistic and not shooting for the million dollar sales price?  At any rate, there are still way more homes over a million than the market activity will support.  In the last six months 10 homes over $1,000,000 have sold and 11 have gone pending.  At this rate, it will take a little over 3 years to sell all of the high-end inventory.

A Glimmer of Hope

The Standard and Poor’s Case-Shiller Home Price Index was recently released.    In the 20-city year-over-year averages the Portland area managed to fair better than most.  The average 12-month loss of home values was 18%, while Portland’s was 16%, the eighth best of the report.  The best fairing market was Denver with a loss of just 4.9%.  The worst was Phoenix with a loss of 35.3% (ouch!)

My personal observation is that things have picked up quite a bit.  My listings are getting lots of showings and also receiving offers.  It could simply be the normal up-tick that happens with spring and summer, but it could also be a bit of much-needed stability.  And even if the market is not necessarily trending up, it does seem to me that it is not getting worse.

Always get a sewer scope!

martha-sewerThis is a photo that you really never want to see, but when this sort of thing happens, it is soooooo much better to have it happen before the sale than after.  This photo was taken of a home that I have currently got in escrow.  The older home was recently remodeled, including a new sewer line from the house to the street.  That should be enough and there’s no need for a sewer scope, right?  NOT!  In the course of the home inspection the buyer did have a sewer scope and a chunk of concrete was found to be blocking  the line.  In the course of the remodel, a stray piece of concrete had somehow found its way into the line.  Who would have known without the sewer scope?  And how irritating would it have been to move into a gorgeous home that was fully remodeled just to have the sewer back up immediately?  This is a good lesson for one and all.  Always get a sewer scope!

LO vs Sellwood

It’s a bit of a habit of mine to compare affordable housing in Lake Oswego vs the popular neighborhood in SE Porltand, Sellwood.  I like to do this for two reasons.  First, I’ve lived in both areas and just have a general curiosity.  Second, I think LO is often overlooked by buyers.  There is just a general assumption that LO is full of million dollar mansions and therefore out of the price range of people seeking an affordable home.  My definition of affordable is $350,000 or less, and I am only comparing detached homes and not including condos.  When I first did this in April of 2008, there were 20 houses in LO and 18 in Sellwood price at $350,000 or less.  Today the number is 44 in LO and 25 is Sellwood.  So not only does Lake Oswego continue to offer more affordable homes than Sellwood, but the number has increased from a difference of 2 more to a difference of 19 more.  In Sellwood the least expensive home currently for sale is 608 square feet, 2 bedrooms and 1 bath, built in 1924.  In Lake Oswego the least expensive home currently for sale is 780 square feet, 2 bedrooms and 1 bath, built in 1944.  So if you are looking for affordable, sure check out SE Portland, but don’t rule out Lake Oswego.  You have options here as well.

I can not let the week go by without wishing everyone a safe and happy 4th of July!

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Open Houses for Sunday, June 21st, 2009

Along with being Father’s Day, this Sunday will find 24 open houses in Lake Oswego:

15210 Boones Way, $175,000.  1124 sq. feet, 2 BR, 2 BTHS, open 1:30-4:30

109 Oswego Summit, $182,900. 1212 sq. feet, 2 BR, 2 BTHS, open 2-5

12844 Boones Ferry Rd, $229,900. 1136 sq. feet, 2 BR, 2.5 BTHS, open 1-4

4447 Golden Ln, $249,000. 1980 sq. feet, 2 BR, 2.5 BTHS, open 2:30-5

4465 Golden Ln, $259,000. 1980 sq. feet, 2 BR, 2.5 BTHS, open 2-4

16964 Gassner Ln, $330,000. 2208 sq. feet, 3 BR, 3 BTHS, open 1-4

5096 Tree St, $334,900. 1410 sq. feet, 3 BR, 1.5 BTHS, open 2-4

2315 Southshore Blvd, $335,000.  1970 sq. feet,  3 BR, 1 BTH, open 2-4

140 Touchstone Ct, $339,900. 1964 sq. feet,  3 BR, 2.5 BTHS, open 12-2

15265 Boones Way, $349,900. 1560 sq. feet, 2 BR, 2.5 BTHS, open 1-3

2705 Orchard Hill Pl, $434,900. 2250 sq. feet, 3 BR, 2.5 BTHS, open 1-4

41 Hillshire Dr, $474,000. 2670 sq. feet, 4 BR, 3 BTHS, open 1:30-3:30

11 Morningview Cir, $547,000. 2921 sq. feet, 3 BR, 2.5 BTHS, open 2-4

16920 Greentree Ave, $579,000.  2830 sq. feet, 4 BR, 2.5 BTHS, open 2-4

11 Celllini Ct, $584,950. 3392 sq. feet, 5 BR, 3 BTHS, open noon-2

2814 Vale Ct, $659,000. 3192 sq. feet, 4 BR, 3 BTHS, open 1-4

18246 Bella Terra Dr, $1,294,000. 4052 sq. feet, 4 BR, 3.5 BTHS, open 1-3

17464 Ridgeview Ln, $1,298,950. 4407 sq. feet, 4 BR, 3.5 BTHS, open 2-4

622 Oak Meadow Dr, $1,325,000. 4171 sq. feet, 4 BR, 3.5 BTHS, open 2-4

664 Oak Meadow Dr, $1,355,000. 4198 sq. feet, 4 BR, 3.5 BTHS, open 2-4

18110 Siena Dr, $1,394,000. 4311 sq. feet, 4 BR, 3.5 BTHS, open 1-3

657 Oak Meadow Dr, $1,395,000. 4371 sq. feet, 4 BR, 3.5 BTHS, open 2-4

17364 Ridgeview Ct, $1,425,000. 4436 sq. feet, 4 BR, 3.5 BTHS, open 2-4

17433 Ridgeview Ln, $1,495,000. 4704 sq. feet, 4 BR, 4.5 BTHS, open 2-4

Enjoy your weekend and a very Happy Father’s Day to the wonderful men in our lives, whether they be your father or simply someone who brings that fatherly spark to your day.

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1-Level Homes

verte-frontThere are many reasons why a person might prefer to live in a single level home.  Some are purely by choice.  Things like the easy of movement while carrying laundry, or the preference for vaulted ceilings.  Others are truly out of necessity due to disabilities whether they be mobility problems, advancing age, or even blindness.  But for many people, living in a 1-level home is their preference.

For these people, when they go to purchase a home, it means that they have a much smaller inventory of homes to select from.  And for the seller of a 1-level home, it means that they have a very specific niche in the real estate market.  So when a single level home comes up for sale, it is likely to be well received by buyers.

Some quick statistics:  in the year 2000, the size of the U.S. population that was age 65 or older was 35,000,000 people or 12.4% of the population.  It is projected that by the year 2030 that percentage will grow to 19.6%, or 71,000,000 people.  This means that the desirability of a one-level home is only going to increase.

Now the twist, just as the demand for single level homes in increasing, the availability of land to build single level homes is decreasing, at least in Oregon.  Every city and county has building codes that require specific distances, or set backs, from the property lines.  A builder is simply restricted to foundations that fit within the set backs of any particular piece of property.  Because a 1-level home usually has a larger foundation, it means that the smaller lots that are common in today’s developments do not have the area necessary to build 1-level homes.  And this means that the land that is big enough to build a 1-level home will cost more because it is larger.  It also means that the 1-level homes that currently exist will be high-demand and valuable into the future.

An important concept to understand when you are buying or selling a single level home is how the value compares to other properties.  Why is it that a 1500 square foot, single level home, can sell for as much as a 2000 square foot 2-story home?  This goes back to the construction of the building.  The two most expensive components in building a home are the roof and the foundation.  When you have a 2-story house, this big expense goes twice as far.  So a 1-level home is more expensive to build per square foot, and through out it’s life of being purchased and sold it will continue to pass along this higher expense.

So if you are lucky enough to have a 1-level home, I hope that you feel good about your investment.  If you are looking to buy a 1-level home, there are currently 70 of them for sale in Lake Oswego.  The least expensive is 1346 square feet with 3 bedrooms, 1 1/2 baths, and was built in 1956.  It is listed for $229,900.  The most expensive is 5389 square feet, with 4 bedrooms, 3 1/2 baths, and was built in 1993.  It is listed for $1,850,000.  The other 68 single level homes for sale cover every sort of size and pricing.

Whether you are wanting to buy or sell, whether you want a 1-level or several levels, Linda and I are here to help.  Please do not hesitate to give us a call or to drop us an e-mail.

Dianne

Posted on

Market Activity for June 8-June 14, 2009

I know that in my personal business it feels like things have picked up a bit.  I think last week’s market activity also reflected that.  We had 19 new listings come on the market, 12 homes go pending, and 14 sales that closed.

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (June 8—June 14, 2009)

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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
15210 BOONES WAY $175,000 2 2 1,124 CONDO 6/8/2009
109 OSWEGO SMT $182,900 2 2 1,212 CONDO 6/8/2009
44 EAGLE CREST DR $185,000 3 2 1,085 CONDO 6/11/2009
212 RIDGEWAY RD $204,900 1 1 778 CONDO 6/12/2009
41 GREENRIDGE CT $249,900 3 2.1 1,652 ATTACHD 6/8/2009
4438 THUNDER VISTA LN $265,000 2 2.1 2,040 CONDO 6/8/2009
1432 LAUREL ST $275,000 2 1 920 DETACHD 6/8/2009
3 SUMMIT RIDGE CT $300,000 2 2.1 1,576 ATTACHD 6/11/2009
343 5TH ST 315000 2 1 910 CONDO 6/11/2009
16808 INVERURIE RD 324900 3 2 1,182 DETACHD 6/8/2009
16964 GASSNER LN 330000 3 3 2,208 DETACHD 6/8/2009
6310 CARMAN DR 349900 3 2.2 1,270 DETACHD 6/9/2009
19040 INDIAN SPRINGS CIR 369950 5 2 2,050 DETACHD 6/9/2009
5037 CENTERWOOD ST 379000 3 1.1 1,340 DETACHD 6/13/2009
2705 ORCHARD HILL PL 434900 3 2.1 2,250 DETACHD 6/12/2009
16439 LEXINGTON CT 474900 2 2 1,563 DETACHD 6/9/2009
891 G AVE 529900 5 2.1 2,420 DETACHD 6/11/2009
17471 CARDINAL DR 850000 4 2.1 3,056 DETACHD 6/9/2009
667 IRON MOUNTAIN BLVD 1650000 5 4.1 5,000 DETACHD 6/8/2009

PENDING SALES (June 8-June 16, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
 PROP TYPE
DOM
Address List Price # BR # BTHS Total SF Prop Type CDOM
3876 BOTTICELLI ST $169,900 2 2 1,275 ATTACHD 202
668 MCVEY AVE 194900 – 224876 2 1 852 CONDO 765
4325 COUNTRY WOODS CT $299,900 3 2 1,346 DETACHD 40
17850 PILKINGTON RD $372,000 3 2.1 3,222 DETACHD 388
762 LAKE FOREST DR $412,125 4 3 1,970 DETACHD 9
14371 HOLLY SPRINGS RD $414,900 4 2.1 1,939 DETACHD 354
131 WILBUR ST $425,000 2 2 1,312 DETACHD 106
16919 LAKERIDGE DR $425,000 4 3 2,710 DETACHD 295
4181 COBB WAY 429900 4 3 2,248 DETACHD 28
15713 TARA PL 615000 4 2.1 3,442 DETACHD 143
17600 UPPER CHERRY LN 699000 4 3.1 3,867 DETACHD 133
17090 FERNWOOD DR 765000 4 3.1 3,998 DETACHD 302

SOLD (June 8-June 16, 2009)

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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
5101 JEAN RD $295,000 $235,000 3 1 1,012 DETACHD 233
16446 INVERURIE RD $349,900 $250,000 3 1 2,100 DETACHD 350
17071 BRYANT RD $435,000 $320,000 3 2 1,500 DETACHD 302
1666 LAKE FRONT RD $874,900 $395,000 4 3 2,825 DETACHD 680
13581 GOODALL RD $1,100,000 $475,000 3 2 1,220 DETACHD 575
54 AQUINAS ST $575,000 $485,000 3 2.1 2,802 DETACHD 249
11 BECKET ST $550,000 $487,500 3 2.1 4,030 DETACHD 111
19431 KOKANEE CT $529,000 $520,000 4 2.1 2,250 DETACHD 8
5868 SUNCREEK DR 749900 645000 4 2.1 3,174 DETACHD 68
2317 STONEHURST CT $945,900 660000 4 2.1 4,455 DETACHD 374
4155 CANAL RD $1,199,000 685000 4 2.1 3,736 DETACHD 678
2900 WEMBLEY PARK RD 697000 690000 4 2.1 3,383 DETACHD 4
3407 LAKE GROVE AVE $1,298,000 875000 4 3.1 4,475 DETACHD 402
18224 Bella Terra DR 1495000 1275000 4 4 4,050 DETACHD 397

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.