Author: Linda Rossi

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Market Activity ~ March 30-April 5, 2020

I thought I’d look at the same approx week last year and see what the stats looked like. Here is the summary:  “Last week 29 New properties entered the market, 16 moved to Pending status, and 15 were “Closed”/Sold. There are a total of 237 homes for sale in Lake Oswego right now.”

THIS year/Last week in Lake Oswego, 15 New properties entered the market, 7 moved to Pending status, and 11 were “Closed”/Sold. We also have 211 homes for sale here, right now.

What this tells me is that people were slowed-down on making Offers last week, but properties are still hitting the market, inventory is about the same albeit a little under last year, and the number of sales is pretty close to what it was a year ago. Basically… I get the feeling that people are rightly spooked about the health crisis, but are taking extreme precautions and at the same time not letting that stop them from carrying on with their dreams inasmuch as selling or buying is the vehicle to that dream.

Dianne and I are here for virtual consulting appointments if you’ve been thinking about exploring a life change adventure in Lake Oswego! Interest rates are looking really good, and there are lots of properties out there.

We’re all going to come out on the other side of this if we’re staying safe and moving carefully… step by step. We can help.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 30-April 5, 2020)

Address List Price # Beds # Baths Total SF Prop Type
16250 PACIFIC HWY #80 $239,000 1 1 841 CONDO
4324 BOTTICELLI ST $359,000 2 2.1 2260 CONDO
6050 FERNBROOK ST $434,900 4 2 1546 DETACHD
16675 BONAIRE AVE $450,000 3 1 1020 DETACHD
16885 SW Denney CT $625,000 3 2 1712 DETACHD
6438 Frost ST $625,000 4 2.1 2269 DETACHD
4262 COBB WAY $629,950 3 2 1618 DETACHD
184 D AVE $665,000 3 2.1 1636 ATTACHD
13841 VERTE CT $699,900 5 3 2341 DETACHD
10 OTHELLO ST $825,000 5 3 3600 DETACHD
5623 BAY CREEK DR $845,000 5 2.1 3042 DETACHD
5015 DENTON DR $950,000 3 2.1 3131 DETACHD
1103 C AVE $1,639,000 4 3.1 3530 DETACHD
1646 LESLIE LN $1,868,000 4 4.1 4879 DETACHD
931 ATWATER RD $2,695,000 4 4.1 5059 DETACHD

PENDING SALES (March 30-April 5, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
1664 BONNIEBRAE DR/Grnd $359,000 3 1.1 1303 CONDO 1
16910 TRACY AVE $450,000 3 2 1176 DETACHD 2
1285 Oak TER $600,000 3 2 1421 DETACHD 23
3721 TEMPEST DR $615,000 4 2.1 2572 DETACHD 4
4799 LAMONT WAY $925,000 3 2.1 3142 DETACHD 1
8 DOVER WAY $1,299,000 6 4.2 6093 DETACHD 130
17084 CANAL CIR $1,850,000 5 3.1 5104 DETACHD 68

SOLD (March 30-April 5, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
18660 DON LEE WAY $450,000 $440,000 3 1 966 DETACHD 0
5135 Tualata LN $525,000 $535,000 4 2 1534 DETACHD 4
17721 Arbor LN $589,900 $589,900 3 2 1521 DETACHD 2
15213 CANDLEWOOD CT $700,000 $685,000 4 2.1 2670 DETACHD 13
17896 KELOK RD $859,000 $792,500 6 6 4093 DETACHD 212
1317 LAUREL ST $899,900 $899,900 4 2.1 2259 DETACHD 6
4070 VIRGINIA WAY $915,000 $940,000 3 2.1 3501 DETACHD 2
17525 CHERRY CT $119,900 $1,080,000 5 3.1 4559 DETACHD 311
401 9TH ST $1,299,000 $1,299,000 4 3.1 4288 DETACHD 21
12812 GOODALL RD $1,895,000 $1,760,000 4 4.1 4808 DETACHD 283
2493 SOUTHSHORE BLVD $3,599,000 $2,947,000 5 5.1 7112 DETACHD 311

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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Real Estate in the Time of COVID

Dear Property Blotter Readers,

Dianne and I are thinking of you during this challenging moment & wishing health and peace to you and yours. I hope this is a time of staying at home with your loved ones & enjoying some things you usually don’t get to enjoy.

I’m told by my trusted Mortgage Advisors that mortgage interest rates are supposed to dip to 3-ish again shortly as that zero interest rate flushes out the crush that happened a few weeks ago when they went down that low (the saturation pushed them back up to 4-ish for a time). Sales are actually moving along really well in Lake Oswego and the overall Portland area right now (see Market Report). Prices are lowering in some cases and being pushed up in others with multiple offers. In other words- the usual, and right now we have 182 Active Properties for sale in Lake Oswego, with 87 currently Pending and 22 Sold/Closed last week. 22 of those Active Properties went on the market just last week.

The other day RMLS removed the Open House section from the site. Some Agents will still choose to have them and be very careful, but most are not doing so out of an appropriate abundance of caution, for now. Everyone is being extremely careful with sanitizing everything and following Seller guidelines for private in-person showings. Buyers are demonstrating a bit more discernment up front & are seeing only properties they’ve decided are on their “serious” list, which cuts down on any potential exposure for everyone as we all do our part. Typically hand-sanitizer is out, booties are used for shoes, Buyers are advised not to touch anything (for them and for the Seller) and Agents will generally wipe the lockbox, door handles, switches etc. Buyers are encouraged to bring their own wipes & sanitizer with them and to wear gloves and/or masks as warranted either by Seller instruction or their own sensibilities. Some Sellers will want their own Agent at showings to observe that nothing is touched in the home so that their Seller can return home with their mind at ease, and/but either way, Agents are doing their utmost to ensure safe protocols are followed.

As for promoting Listings, there are, of course, cool tools that can and are being promoted more liberally like Virtual Open Houses, Video Walk-Through’s and other things. Ask me if you’re interested in learning more about that.

In general, we all are in this together, and the camaraderie at-a-distance and diligence in every sector of the real estate community is truly impressive ~ People helping people fulfill their life-goals and stay safe & healthy in the process.

Please take care and do get in touch with me or with Dianne if you have a life-goal you don’t really want to put off ; ) We can make it happen, efficiently and safely.

Be Well~
Linda

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Market Activity ~ March 16-22, 2020

People have important reasons for either Buying or Selling a home, and those reasons remain even when storms rage outside. The real estate market in the overall area is very busy. Last week in Lake Oswego, 24 New properties entered the market, 15 moved to Pending status, and 22 were “Closed”/Sold. We also have 188 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 16-22, 2020)

Address List Price # Beds # Baths Total SF Prop Type
4000 CARMAN DR, B27 $266,950 2 2 869 CONDO
4061 JEFFERSON PKWY $300,000 2 2.1 1462 ATTACHD
5056 FOOTHILLS DR #63 $318,000 2 2 1252 CONDO
12888 BOONES FERRY RD $419,900 2 2.1 1182 CONDO
15 SUMMIT RIDGE CT $438,888 2 2.1 1750 ATTACHD
18275 TERRY CT $439,900 3 1.1 1270 DETACHD
77 CONDOLEA WAY $520,000 3 3 2143 CONDO
121 WILBUR ST, A2 $537,500 3 2 1631 CONDO
6430 MCEWAN RD $549,000 6 2 1595 DETACHD
21 BECKET ST $649,900 4 2.1 3070 DETACHD
17200 CANAL CIR $665,000 3 1.1 1774 DETACHD
92 SW GARIBALDI ST $769,000 4 3.1 3172 DETACHD
17065 TUALATIN ST $869,900 3 2.1 2808 DETACHD
5267 LAKEVIEW BLVD $979,000 4 3.1 3454 DETACHD
14380 TRILLIUM CT $1,072,000 5 3 3962 DETACHD
13751 CAMEO CT $1,100,000 5 4 3350 DETACHD
4743 UPPER DR $1,128,000 4 2.1 3145 DETACHD
2100 RIDGE POINTE DR $1,150,000 5 5.1 5619 DETACHD
1983 RIDGEWOOD RD $1,198,000 5 5.1 4841 DETACHD
814 LAKE SHORE RD $1,249,000 3 2.1 2385 DETACHD
4190 CHAPMAN WAY $1,298,000 4 3.1 3624 DETACHD
714 EVERGREEN RD $1,369,000 4 3 3464 DETACHD
4720 FIRWOOD RD $1,395,000 4 3 3605 DETACHD
14190 SUNDELEAF DR $1,459,900 5 4 3688 DETACHD

PENDING SALES (March 16-22, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
66 GALEN ST / Upper $179,999 1 1 690 CONDO 39
#45 $234,900 2 1 852 CONDO 208
5054 FOOTHILLS DR, E $355,000 2 2 1252 CONDO 38
55 ORIOLE LN $399,000 3 2 1200 DETACHD 17
18540 SW KRISTI WAY $424,900 3 1.1 1277 DETACHD 3
19230 SW REDWING CT $455,000 4 2.1 1842 DETACHD 62
47 DA VINCI ST $599,000 3 2.1 2467 DETACHD 6
1285 Oak TER $600,000 3 2 1421 DETACHD 4
1640 WOODLAND TER $619,900 4 3 2398 DETACHD 6
16943 GREENTREE AVE $625,000 4 3.1 2433 DETACHD 4
4595 HASTINGS PL $703,000 4 2.1 2178 DETACHD 3
5688 RIDGETOP CT $799,900 3 3.1 3326 DETACHD 1
19505 OLSON AVE $842,700 5 2.1 3022 DETACHD 21
2397 HILLSIDE LN $925,000 5 3 3158 DETACHD 0
17506 Hill WAY $1,199,900 4 2.1 3163 DETACHD 300

SOLD (March 16-22, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
45 OSWEGO SMT / Lower $210,000 $200,000 1 1 764 CONDO 33
317 CERVANTES / Grnd $240,000 $236,000 2 2 1209 CONDO 178
16250 PACIFIC HWY #71 $245,000 $242,000 2 2 1305 CONDO 257
216 CERVANTES / Grnd $264,900 $270,000 2 1 1336 CONDO 3
17 SUMMIT RIDGE CT $325,000 $285,000 2 2.1 1844 ATTACHD 84
4210 WOODSIDE CIR $347,999 $350,600 3 2 1778 ATTACHD 151
4438 THUNDER VISTA LN #4438 $349,900 $358,900 2 2.1 2040 CONDO 164
4384 WOODSIDE CIR $375,000 $375,000 3 2 1705 ATTACHD 2
524 2ND ST $497,500 $490,000 2 2.1 1547 CONDO 2
2500 GREENTREE RD $559,000 $559,500 3 2 1502 DETACHD 5
7 PARTRIDGE LN $550,000 $562,500 3 3 2264 DETACHD 4
6450 FROST ST $594,900 $584,900 4 2.1 2216 DETACHD 3
2215 FERNWOOD CIR $600,000 $600,000 4 3 2640 DETACHD 0
2 MORNINGVIEW LN $685,000 $646,500 4 3.1 2898 DETACHD 241
18006 GIMLEY CT $688,000 $690,000 5 4 3110 DETACHD 3
17393 GRANDVIEW CT $824,500 $780,000 4 3.1 3672 DETACHD 108
14253 KIMBERLY CIR $895,000 $844,500 4 3.1 3527 DETACHD 40
14611 UPLANDS DR $975,000 $975,000 3 3 3028 DETACHD 2
1691 VILLAGE PARK LN $998,000 $998,000 4 3.1 3980 DETACHD 10
2050 CHILDS RD $1,295,000 $1,100,000 4 4.1 4814 DETACHD 272
17084 CHAPIN WAY $1,295,000 $1,250,000 4 3.1 4028 DETACHD 11
19097 Bryant RD $1,499,900 $1,510,251 4 4 3556 DETACHD 31

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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News & Notes ~ Feb Numbers 2020

Here is your look at the most recent data for the entire Portland area (February 2020) and how Lake Oswego fits in to this picture just below.

Inventory remains low and Buyers are out en force. Interest rates have taken a steep dive and that is fueling this busy season as well. We’ve got increases in every segment (New, Pending & Closed), with Pending & Closed Sales really jumping up from January, and everything up significantly from 2019. Sale Prices are up over Feb 2019, and down a little bit from January. Areas in & around Gresham, Oregon City, Milwaukie/Clackamas, & Hillsboro, are the strongest as far as Appreciation goes.

According to the RMLS Market Action Report for the Portland Metro Area, February 2020:

  • There were 2,759  New Listings in February 2020 which increased 12.9%  from February of 2019’s 2,444, and also increased slightly at 0.2% from the previous month/January’s 2,754.
  • At 1,897, February 2020’s Closed Sales were up 9.9% over February 2019’s 1,726, and also up 14.1% from the previous month/January 2020’s total of 1,663.
  • At 2,598, February 2020’s Pending Sales rose 17.7% over February  2019’s 2,208, and rose 14.4% from the previous month/January 2020’s total of 2,271.
  • The Average Sale Price in February 2020 of $457,900 up $16,800 from last year/February 2019’s $441,100, and came down $5,100 from the previous month/January 2020’s $463,000.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in February 2020 of $407,000 was up from last year/February 2019’s $399,900 by $7,100, and up $1,000 from the previous month/January 2020’s $406,000.   

Neighborhoods: February’s Average Sale Price + 12-month Appreciation:

  • North Portland:  $407,900              0.8%   (Jan $392,900)
    •                                                     YTD Median: $385,000
  • NE Portland:  $482,200                   2.5%   (Jan $483,100)
    •                                                     YTD Median: $410,000
  • SE Portland:  $424,700                   1.1%   (Jan $427,000)
    •                                                     YTD Median: $370,200
  • Gresham/Troutdale:   $376,600     5.4%   (Jan $363,700)
    •                                                     YTD Median: $356,000
  • Milwaukie/Clackamas:  $443,700  4.3%   (Jan $451,300 )
    •                                                     YTD Median: $424,000
  • Oregon City/Canby:   $448,600      4.8%   (Jan $449,300)
    •                                                     YTD Median: $433,600
  • Lake Oswego/West Linn:$705,100  2.8%  (Jan $712,600)
    •                                                      YTD Median: $585,000
  • West Portland:    $581,600             -1.8%  (Jan $601,000 )
    •                                                     YTD Median: $510,000
  • NW Wash County:  $510,400         -1.2%   (Jan $498,000)
    •                                                      YTD Median: $460,000
  • Beaverton/Aloha:     $412,800       2.6%   (Jan $414,500)
    •                                                     YTD Median: $400,000
  • Tigard/Wilsonville:   $485,600        0.9%   (Jan $507,100)
    •                                                      YTD Median: $455,000
  • Hillsboro/Forest Grove: $414,200  5.8%   (Jan $419,500)
    •                                                      YTD Median: $394,300

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of February 2020 reported:

    •  226 Active Listings  (Jan 217)
    •  151 New Listings     (Jan 153)
    •  119 Pending Sales   (Jan 106)
    •   72 Closed Sales       (Jan   72)
    • Average Sale Price for February: $705,100  (Jan $712,600)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •   86 Average Days on the Market   (Jan 117)

 

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Market Activity ~ March 2-8, 2020

Lots of Buyers are out there making Offers. Last week in Lake Oswego, 12 New properties entered the market, 23 moved to Pending status, and 9 were “Closed”/Sold. We also have 149 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 2-8, 2020)

Address List Price # Beds # Baths Total SF Prop Type
86 KINGSGATE RD H104 $224,900 2 2 840 CONDO
16250 PACIFIC HWYn #77 $365,000 2 2 1327 CONDO
19415 SYCAMORE AVE $450,000 3 2 1584 DETACHD
2102 WEMBLEY PARK RD $699,900 3 2 1592 DETACHD
19681 PERCH CT $923,000 4 3 3307 DETACHD
390 9th ST $949,000 4 2.1 2023 DETACHD
19305 HILL TOP RD $1,375,000 4 3.1 5116 DETACHD
16653 FIR LN $1,438,000 4 3.1 3957 DETACHD
13594 Goodall RD $1,669,000 4 4.1 3732 DETACHD
19025 HILL TOP RD $2,349,500 5 4.1 5366 DETACHD
18420 OLD RIVER LNDG $2,890,000 5 3.1 6164 DETACHD
18060 EASTRIDGE LN $2,995,000 4 5.1 5111 DETACHD

PENDING SALES (March 2-8, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #52 $152,000 1 1 617 CONDO 110
107 OSWEGO SMT/Grnd $209,900 2 1.1 1116 CONDO 158
40 CERVANTES CIR $210,000 2 1.1 912 CONDO 3
48 EAGLE CREST DR #1B $295,000 3 2 1623 CONDO 172
16870 CORTEZ CT $449,900 3 2 1800 DETACHD 2
3351 FIR RIDGE RD $499,000 3 2 1750 DETACHD 159
1 EL GRECO ST $499,900 4 2.1 2296 DETACHD 3
17561 LAKE HAVEN DR $500,000 2 1 1100 DETACHD 0
5135 Tualata LN $525,000 4 2 1534 DETACHD 4
1610 ASH ST $575,000 3 2 2181 DETACHD 3
100 LEONARD ST #3-4 $599,000 3 2 1736 CONDO 127
1 PREAKNESS CT $645,000 4 3 2373 DETACHD 6
15213 CANDLEWOOD CT $700,000 4 2.1 2670 DETACHD 13
2679 GLEN EAGLES RD $779,000 3 3 2378 DETACHD 12
19505 OLSON AVE $842,700 5 2.1 3022 DETACHD 5
1535 Pine Street $879,900 3 2.1 2390 DETACHD 0
2535 GLENMORRIE DR $899,900 4 3 3134 DETACHD 22
1317 LAUREL ST $899,900 4 2.1 2259 DETACHD 6
22 DOVER WAY $900,000 4 2.1 3335 DETACHD 0
1560 CHERRY CREST DR $909,000 3 3 3334 DETACHD 3
4070 VIRGINIA WAY $915,000 3 2.1 3501 DETACHD 2
533 WEIDMAN CT $992,500 4 3.1 4092 DETACHD 122
15628 QUARRY RD $1,249,000 4 3.1 3074 DETACHD 0

SOLD (March 2-8, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #56 $205,000 $190,000 3 1 1024 CONDO 207
4 THE GROTTO $419,000 $410,000 3 2.1 1534 DETACHD 256
14446 HOLLY SPRINGS RD $529,900 $529,900 3 2.1 1699 CONDO 302
17291 CEDAR RD $617,000 $585,000 6 3 2872 DETACHD 228
4045 BASS LN $610,000 $604,000 4 2.1 2158 DETACHD 137
950 SCHUKART LN $1,100,000 $1,100,000 5 2.1 3530 DETACHD 0
717 5TH ST $1,279,950 $1,274,950 4 2.1 2809 DETACHD 3
305 CHANDLER PL $1,400,000 $1,400,000 6 4 3390 DETACHD 1
162 BERWICK RD $2,199,900 $2,213,423 4 4.1 4227 DETACHD 80

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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Listing Your Property

Hey everybody!  Its a privilege to be able to coalesce around this town we all love so much and bring you great real estate & local Lake Oswego content.

March is the month I often recommend to my clients interested in listing their homes at the best time. Weather is starting to get sunnier, flowers are starting to bloom, and though it started earlier this year, people start to get out in earnest if they want to buy a house or condo this year. So, if you’re thinking of getting your home on the market, this time of year gives you a few months of high season (things start to taper off after July 4th when a lot of people take the fam off on vacations to other locales).

If this is you, here are a few items to tick off your list:

  • Realtor~ Engage an energetic, experienced and skilled Real Estate Broker.  I’m partial to Dianne and myself, so you can always call either of us (!!) and/but make sure you find someone you enjoy being with and trust, then strongly consider their advice all along the way. A Realtor who really understands your neighborhood and how to price & market in your niche is key. They are there to help you achieve your goal, and that’s what they’ll do if y’all remain committed to the goal and making good decisions all along the way.
  • Cosmetic Prep~ Obviously you want to clean up your home. Polish and shine it… dress it in its cozy-but-sparse finery. Enlist your Realtor for staging tips and or help in that regard. Think of getting things packed up and maybe start stacking some boxes in the garage… you’re going to be moving soon, so might as well get a head-start. Rooms look bigger with less, and folks can imagine themselves in your home as their own if you have a warm but open & clean feel to your rooms. Lawns mowed, shrubbery trimmed, drive and walkways pressure-washed…  Your Realtor will give you tips specifically catered to your property.
  • Repairs~ No home is perfect.  You should talk to your Realtor about any known “issues”. Some things can be left to see what the Buyer may want to do about them, others might be advisable to just take care of prior to listing. Your Realtor will be able to advise you what likely falls into which category and give you options on how certain items can be addressed. They will also likely have some great resources for you when you need a good contractor to get the job done right.  Some people choose to have a home inspection done prior to listing just to be in the know about everything- Be advised that this can be a great tool if you plan to address everything that comes up in the report prior to listing (that’s a good idea anyway). That inspection report WILL be a “Disclosure”, however, and handed to any Buyer who comes in good faith.  It can be a good marketing tool to be able to hand that report to a Buyer and tell them that the issues contained therein have been remedied.  If the prospect of this makes you nervous, know that a Buyer will almost always have their own inspection done anyway, and if you’ve familiarized yourself with your own home and disclosed everything you know about it, the items that come up and that a Buyer *may* choose to ask you to address will probably not be a surprise. There is a negotiation period where items of concern to a Buyer can be worked through and resolved either monetarily, by repairing prior to Close, or by the Buyer deciding to proceed and take on those items themselves. Its all very specific to the individual home, issues and people involved. ……..Which is another reason you need a good Realtor.
  • Setting Expectations~ Your Realtor will  discuss how life will be once your property goes on the market.  You have choices- times for showings (9-6? 7-7? Remember: people work). You can have all calls or texts to schedule showings go to your Realtor or you can take those calls/texts yourself & handle it more directly. If you have a pet, some thought need to be given to that. You can expect that you’ll be inconvenienced a bit, and on the first weekend I usually recommend a nice, short trip to the coast, or somewhere you love. That way you’re not bothered by people wanting you to leave for a 1/2 hour or so at a time on your weekend, and Buyers & Agents then have easy access to showing your home (***This is the best recipe for getting the most potential Buyers to consider yours). My aim is always to get the home sold that first week, and though market conditions have made that not as common as in past years, in this current hot market and time of year its happening more often. That said, depending on the price you’ve decided on with your Realtor’s help, and other conditions/factors particular to the house or condo that may reduce your Buyer pool, you could possibly be in for a wait for “The One”.  Just know that your sale will happen, and try to think of these intrusions as opportunities to share how amazing your beautiful home is with each potential Buyer.

After all….  You are on to new adventures!

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Market Activity ~ Feb 17-23, 2020

We’re seeing more Listings start to come to market now. Last week in Lake Oswego, 13 New properties entered the market, 24 moved to Pending status, and 10 were “Closed”/Sold. We also have 127 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Feb 17-23, 2020)

Address List Price # Beds # Baths Total SF Prop Type
86 KINGSGATE RD/Upper $259,900 2 2 938 CONDO
48 EAGLE CREST DR #1B $295,000 3 2 1623 CONDO
28 TANGLEWOOD DR $575,000 4 2.1 2282 DETACHD
2415 GLEN HAVEN RD $584,950 5 3 2614 DETACHD
15213 CANDLEWOOD CT $700,000 4 2.1 2670 DETACHD
2679 GLEN EAGLES RD $779,000 3 3 2378 DETACHD
4388 SNOWBRUSH CT $835,000 5 4 3928 DETACHD
17867 SUNDOWN CT $869,900 3 3.1 2763 DETACHD
3781 TEMPEST DR $899,900 4 2.1 3927 DETACHD
4121 CHILDS RD $956,000 4 3.1 3396 DETACHD
14530 UPLANDS DR $1,639,000 5 3.1 4080 DETACHD
13311 LESLIE CT $1,699,000 5 5 5601 DETACHD
15607 VILLAGE DR $2,589,000 5 3.1 5407 DETACHD

PENDING SALES (Feb 17-23, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
66 GALEN ST / Upper $179,999 1 1 690 CONDO 14
45 OSWEGO SMT / Lower $200,000 1 1 764 CONDO 33
48 CERVANTES CIR $270,000 2 1.1 1368 CONDO 162
3834 BOTTICELLI ST $275,000 2 2 1055 CONDO 239
4438 THUNDER VISTA LN #4438 $349,900 2 2.1 2040 CONDO 164
5054 FOOTHILLS DR, E $355,000 2 2 1252 CONDO 12
18660 DON LEE WAY $450,000 3 1 966 DETACHD 0
17721 Arbor LN $589,900 3 2 1521 DETACHD 2
639 2ND ST $650,000 2 2.1 1457 ATTACHD 5
780 2ND ST $699,900 2 2 1536 DETACHD 3
3 GARIBALDI ST $725,000 3 3 3137 DETACHD 67
5825 RIDGETOP CT $759,900 3 3 2897 DETACHD 2
259 PINE VALLEY RD $800,000 3 2 2010 DETACHD 16
4102 CHAD DR $825,000 4 2.1 3067 DETACHD 3
2535 GLENMORRIE DR $899,900 4 3 3134 DETACHD 5
16754 QUAIL CT $1,088,000 5 3.1 3329 DETACHD 2
4485 West RD $1,095,000 5 3.1 3678 DETACHD 537
17935 CARDINAL DR $1,150,000 3 2.1 1909 DETACHD 15
17525 CHERRY CT $1,175,000 5 3.1 4559 DETACHD 311
16895 CHAPIN WAY $1,495,000 4 3.2 5182 DETACHD 216
18218 MEADOWLARK LN $1,599,000 5 6.1 8320 DETACHD 257
707 LAKE SHORE RD $1,890,000 3 2.1 2992 DETACHD 98
12812 GOODALL RD $1,895,000 4 4.1 4808 DETACHD 283
2493 SOUTHSHORE BLVD $3,599,000 5 5.1 7112 DETACHD 311

SOLD (Feb 17-23, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
38 OSWEGO SMT / Lower $210,000 $199,900 1 1 902 CONDO 118
17199 WARREN CT $569,900 $510,000 3 2 1750 DETACHD 44
3802 SOUTHSHORE BLVD $550,000 $550,000 3 2 1908 DETACHD 2
14383 HOLLY SPRINGS RD $585,000 $580,125 5 2.1 2238 CONDO 2
15510 PARTRIDGE DR $610,000 $610,000 3 2.1 2298 DETACHD 2
4120 CANAL RD $1,100,000 $930,000 4 3.1 4104 DETACHD 88
762 3RD ST $1,100,000 $1,000,000 3 2.1 2590 DETACHD 26
589 7TH ST $1,299,000 $1,223,600 5 4.1 3657 DETACHD 181
1976 HIGHLANDS LOOP $1,799,000 $1,585,000 4 3.2 4881 DETACHD 310
17675 CARDINAL DR $2,385,500 $2,223,600 4 3 3458 DETACHD 185

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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News & Notes ~ Jan 2020 Numbers

Here is your look at the most recent data for the entire Portland area (January 2020) and how Lake Oswego fits in to this picture just below.

No doubt about it, Inventory is still low. So, not as many houses on the market as we enter the new year, but word is the number of Buyers out there right now is up. Generally that means sale prices will continue to see healthy appreciation as Buyers compete for a smaller number of homes. We’ll just have to wait and see what this year holds!  That said, New Listings are up a whopping 116.9% from December to January, so we may see our “Leveling-out” trend continue as far as prices go if we also continue to see that Inventory rise. Areas in & around Gresham, Oregon City, Milwaukie/Clackamas, Beaverton & Hillsboro, are the strongest as far as Appreciation goes.

According to the RMLS Market Action Report for the Portland Metro Area, January 2020:

  • There were 2,754  New Listings in January 2020 which decreased 9.6%  from January of 2019’s 3,048, BUT rose 116.9% from the previous month/December‘s 1,270.
  • At 1,663, January 2020’s Closed Sales were up 14.6% over January 2019’s 1,451, and down 24.9% from the previous month/December 2019’s total of 2,213. (***Low activity during holidays means not as many “Closing” yet in January.)
  • At 2,271, January 2020’s Pending Sales rose 11.1% over January  2019’s 2,045, and rose 28.2% from the previous month/December 2019’s total of 1,772.
  • The Average Sale Price in January 2020 of $463,000 up $27,400 from last year/January 2019’s $435,600, and stayed steady related to the previous month/December 2019’s $463,000.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in January 2020 of $406,000 was up from last year/January 2019’s $384,900 by $21,100, and down just $1,000 from the previous month/December 2019’s $405,000.   

Neighborhoods: January’s Average Sale Price + 12-month Appreciation:

  • North Portland:  $392,900           1.5%   (Dec $440,200)
    •                                                     YTD Median: $385,000
  • NE Portland:  $483,100                   2.4%   (Dec $460,800)
    •                                                     YTD Median: $410,000
  • SE Portland:  $427,000                   0.7%   (Dec $409,000)
    •                                                     YTD Median: $385,000
  • Gresham/Troutdale:   $363,700     4.9%   (Dec $370,100)
    •                                                     YTD Median: $350,000
  • Milwaukie/Clackamas:  $451,300  3.9%   (Dec $441,300 )
    •                                                     YTD Median: $425,000
  • Oregon City/Canby:   $449,300      4.9%   (Dec $446,500)
    •                                                     YTD Median: $439,000
  • Lake Oswego/West Linn:$712,600  2.7%  (Dec $732,400)
    •                                                      YTD Median: $570,000
  • West Portland:    $601,000             -2.5%  (Dec $614,300 )
    •                                                     YTD Median: $507,500
  • NW Wash County:  $498,000         -1.5%   (Dec $522,600)
    •                                                      YTD Median: $463,400
  • Beaverton/Aloha:     $414,500       3.1%   (Dec $385,000)
    •                                                     YTD Median: $400,000
  • Tigard/Wilsonville:   $507,100        1.0%   (Dec$438,900)
    •                                                      YTD Median: $458,300
  • Hillsboro/Forest Grove: $419,500  5.2%   (Dec $420,400)
    •                                                      YTD Median: $386,300

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of January 2020 reported:

    •  217 Active Listings (Dec 223)
    •  153 New Listings     (Dec 50)
    •  106 Pending Sales   (Dec  70)
    •   73 Closed Sales    (Dec 107)
    • Average Sale Price for January: $712,600  (Dec $732,400)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  117 Average Days on the Market   (Dec 109)

 

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Market Activity ~ Feb 3-9, 2020

We’re seeing more Listings start to come to market now. Last week in Lake Oswego, 15 New properties entered the market, 16 moved to Pending status, and 9 were “Closed”/Sold. We also have 127 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Feb 3-9, 2020)

Address List Price # Beds # Baths Total SF Prop Type
66 GALEN ST / Upper $179,900 1 1 690 CONDO
4 TOUCHSTONE #130 $205,000 2 2 984 ATTACHD
5054 FOOTHILLS DR E $355,000 2 2 1252 CONDO
12846 BOONES FERRY RD $389,000 2 2.1 1234 CONDO
5053 W SUNSET DR $499,900 2 2.1 1720 ATTACHD
16368 SW Lake Forest BLVD $979,000 4 2.1 2750 DETACHD
17935 CARDINAL DR $1,150,000 3 2.1 1909 DETACHD
975 SCHUKART LN $1,198,000 4 2.1 4449 DETACHD
2024 PALISADES TERRACE DR $1,249,000 4 3.1 4943 DETACHD
717 5TH ST $1,279,950 4 2.1 2809 DETACHD
5745 Washington CT $1,295,000 4 3.1 2841 DETACHD
17467 WESTVIEW DR $1,309,000 4 3.1 4119 DETACHD
18320 MEADOWLARK LN $1,649,000 4 4.2 6054 DETACHD
17537 CARDINAL DR $1,995,000 5 4 5383 DETACHD
1164 CRESTLINE CT $2,495,000 5 4.2 6800 DETACHD

PENDING SALES (Feb 3-9, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #56 $189,000 3 1 1024 CONDO 207
216 CERVANTES / Grnd $264,900 2 1 1336 CONDO 3
17 SUMMIT RIDGE CT $315,000 2 2.1 1844 ATTACHD 84
28 GREENRIDGE CT $350,000 3 2 1642 ATTACHD 128
68 Greenridge CT $425,000 3 2.1 2868 ATTACHD 293
5057 W SUNSET DR $474,500 2 2.1 1720 ATTACHD 453
524 2ND ST $497,500 2 2.1 1547 CONDO 2
14442 ORCHARD SPRINGS RD $524,900 3 2.1 1400 CONDO 62
14446 HOLLY SPRINGS RD $529,900 3 2.1 1699 CONDO 302
6010 BURMA RD $549,000 3 1.1 1260 DETACHD 12
76 GREENRIDGE CT $650,000 4 3.1 2868 ATTACHD 25
1604 COUNTRY CLUB RD $775,000 4 3.1 3878 DETACHD 862
14066 CHATHAM CT $835,000 5 2.1 2800 DETACHD 3
5331 W SUNSET DR $939,000 3 3.1 3606 DETACHD 137
885 8TH ST $949,000 3 2 1730 DETACHD 13
17084 CHAPIN WAY $1,295,000 4 3.1 4028 DETACHD 11

SOLD (Feb 3-9, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
54 CERVANTES CIR / Grnd $205,000 $217,000 2 1.1 912 CONDO 29
#74 $294,000 $289,000 1 1 636 CONDO 132
1470 BOCA RATAN DR $389,000 $375,000 4 2 1867 ATTACHD 200
14480 CAMDEN LN $650,000 $667,500 3 2.1 2069 DETACHD 4
4221 Cobb WAY $679,900 $740,000 3 2 1724 DETACHD 3
15815 ALLISON PL $825,000 $800,000 4 2.1 3559 DETACHD 216
13637 WESTLAKE DR $1,130,000 $1,100,000 4 4.1 3927 DETACHD 606
3250 FIR RIDGE RD $1,349,000 $1,349,000 4 3.1 3541 DETACHD 105
1290 ANDREWS RD $1,379,000 $1,375,000 4 3 3610 DETACHD 11

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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This Week in Lake Oswego ~ Feb 3-9, 2020

Here are my picks for things happening this week!

Mon, Feb 3, 2020– 7:00PM –  Development Review Commission  ~ Opportunity to hear about upcoming projects including new athletic field lighting and a hitting barn at Lakeridge High School – City Hall, 380 A Ave –  Info: CLICK HERE

Tue, Feb 4 2020 –  7:00-8:30PM – “Bayou Boyz” for First Tuesday Music!!!!~***Ding! Ding! Ding!  These guys are just some of the best musicians in the region… at the Lake Oswego Library! Bayou Boyz promise to “swampify your world”. This is Louisiana-style music from coastal areas featured in the 2020 LO Reads title, Rising: Dispatches from the New American Shore, by Elizabeth Rush.  – Lake Oswego Library, 706 4th St-  Info:  CLICK HERE  

Wed, Feb 5th, 2020 – 4:15-5:00PM / Ages 7-12- Meet the Artist  ~ Each week explore an Artist who really made an impact in the world…such as Frida Kahlo, Picasso, Matisse, and Georgia O’Keefe ~ CCP, 1060 Chandler Rd –Info & Reg:  CLICK HERE     

Thu, Feb 6th, 2020 9:00-10:00AM – 50+ Aerobic Exercise to Music  ~ Low-impact class helps w/balance, flexibility, strength. ~ Adult Community Center, 505 G Avenue – Info & Registration: (class has begun/can still sign up!)   CLICK HERE

Fri , Feb 7th 2020:  1:30-4:00, Beasts of the Southern Wild    ~ See this film from  in a theater and discuss it afterwards. In the movie, 6-year-old Hushpuppy (Quvenzhané Wallis) lives with her father Wink (Dwight Henry) in a remote Delta community. Doors open at 1:30. Film starts at 2:00.  – Lake Theater & Cafe, 106 N State St  Info: CLICK HERE 

Sat , Feb 8th 2020:  1:00-2:30, Garden Planning 101   ~Learn about succession planting, companion planting and “what to plant/when”. – Luscher Farm, 125 Rosemont Road  Info: CLICK HERE 

Sun, Feb 9, 2020– 2:00-3:00PM –  Young People Facing Climate Change  ~ Hear a panel featuring youth from Lake Oswego and Lakeridge High Schools discuss how they are feeling about climate change and what opportunities are available to become involved. – City Hall, 380 A Ave –  Info : CLICK HERE