Author: Linda Rossi

Posted on

Market Activity ~ Oct 24-30, 2016

Last week we saw 6 New properties enter, 20 move to Pending status, and 24 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Oct 24-30, 2016)

Address List Price # Beds # Baths Total SF Prop Type
550 2ND ST $500,000 2 2.1 1540 CONDO
64 TOUCHSTONE $585,000 4 2.1 3494 DETACHD
2399 PALISADES CREST DR $749,000 5 3.1 4452 DETACHD
2092 SUMMIT DR $1,579,000 4 4.1 4527 DETACHD
16819 GREENBRIER RD $2,250,000 4 4 3022 DETACHD
1475 SKYLAND DR $2,600,000 4 4.1 9300 DETACHD

PENDING SALES (Oct 24-30, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
45 EAGLE CREST DR #411 $221,900 2 2 1214 CONDO 8
5804 KENNYCROFT WAY $295,000 3 1.1 1008 DETACHD 3
4450 THUNDER VISTA LN $298,000 2 2.1 2040 ATTACHD 5
1299 BOCA RATAN DR $319,900 3 2.1 1858 ATTACHD 2
12848 BOONES FERRY RD $335,000 2 2.1 1182 CONDO 0
1875 FERNWOOD DR $349,900 3 1.1 1102 DETACHD 11
94 GREENRIDGE CT $364,900 3 2 1752 ATTACHD 57
6 SUMMIT RIDGE CT $399,000 2 2.1 1750 ATTACHD 120
1 SAINT HELENS CIR $424,900 3 2.1 1422 DETACHD 5
4208 HARVEY WAY $475,000 4 2 2132 DETACHD 3
208 ASH ST $529,500 3 2 1912 DETACHD 5
4575 OAKRIDGE RD $560,000 3 2.1 2040 ATTACHD 27
18171 BRYANT RD $625,000 3 2 2984 DETACHD 67
4328 LORDS LN $699,950 3 3 4354 DETACHD 59
17700 LEAFY LN $779,500 4 2.1 3666 DETACHD 76
878 10TH ST $879,000 2 2 1900 DETACHD 29
876 9TH ST $1,099,900 4 2.1 2699 DETACHD 0
1122 BAYBERRY RD $1,199,900 5 3 3259 DETACHD 135
13959 FOSBERG RD $1,800,000 4 5.1 5075 DETACHD 183
5405 CHILDS RD $1,899,000 5 4.1 5702 DETACHD 206

SOLD (Oct 24-30, 2016)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #13 117000 113000 1 1 617 CONDO 23
354 CERVANTES CIR #1C 158000 150000 2 1.1 912 CONDO 9
86 KINGSGATE RD #B103 158900 150000 2 2 924 CONDO 149
4628 LOWER DR #B1 149999 157500 2 1.1 1170 CONDO 3
76 GALEN ST #76 199900 199900 2 2 989 CONDO 6
76 OSWEGO SMT – Upper 199900 220000 2 2 1212 CONDO 43
38 GREENRIDGE CT 365000 365000 3 2.1 1996 ATTACHD 46
1248 ASH ST 399950 399000 2 1 1631 DETACHD 98
17 ORIOLE LN 425000 420000 3 2.1 1800 DETACHD 3
4752 REMBRANDT LN 439900 449000 3 2.1 1655 DETACHD 3
15711 BOONES WAY 499000 510500 3 2 1973 DETACHD 25
3845 TEMPEST DR 574000 530000 4 2.1 2000 DETACHD 71
1590 LARCH ST 640000 587500 5 2.1 2836 DETACHD 66
2600 PARK RD 624900 590000 3 3 2240 DETACHD 5
1837 CEDAR CT 629000 600000 5 3 2625 DETACHD 92
3180 WESTVIEW CIR 749000 675000 3 2.1 2787 DETACHD 82
2484 MARYLSHIRE LN 799000 758000 4 3.1 4283 DETACHD 64
5314 CHILDS RD 864000 775000 4 2.1 3272 DETACHD 109
17572 SHEPHERDS CT 879900 820000 4 3 2983 DETACHD 69
2527 PALISADES CREST DR 999999 885000 3 2.1 3738 DETACHD 86
13017 KNAUS RD 1075000 1075000 4 3.1 4690 DETACHD 89
683 5TH ST 1178000 1180000 4 3 2811 DETACHD 0
17313 BLUE HERON RD 2000000 1990000 4 3.1 3480 DETACHD 35
12740 FIELDING RD 2100000 2075000 4 2.1 3453 DETACHD 111

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.

Posted on

A Little Mortgage Insight?

…Let’s see… How about a few words from one of my favorite resources?

9/27/16:

We dodged another bullet this past week when the Federal Reserve Board kept the Federal Funds Rate (the Overnight Lending Rate) the same, despite three months of chatter in financial markets that the Board had waited too long to raise rates and would do it this month.   There were, however, unusually hawkish statements at the Fed Open Market Committee meeting, made by several members of the Board, to the effect that the rate should go up at the December meeting, and that there should be several rate increases in 2017.  The economy is clearly recovering, albeit slowly, and the Fed always wants to curb future inflation by raising the Overnight Rate to restrain borrowing.

Mortgage rates, still at historical lows, have always been immediately affected upward when the Federal Funds Rate has been raised.  If you intend to buy or refinance, be advised that you could be looking at higher rates very soon.

PETE CHRISTELMAN

Mortgage Originator
NMLS –  93499

Tel:         (503) 282 9000

Mobile:   (503) 381 7222

Email:     pchristelman@financeofamerica.com

_____________________________________________________________

MACADAM  I  4380 SW MACADAM AVE  I SUITE 560  I  PORTLAND, OR 97239

FinanceofAmerica.com/Macadam

cid:image002.jpg@01D16E57.477735A0

© 2015  Finance of America LLC I  I  Equal Housing Lender  cid:image003.png@01D16E57.477735A0 I  NMLS 1071

Mortgage Banker License #0910184 I  Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act  I Georgia Residential Mortgage Licensee  I  Illinois Residential Mortgage Mortgage Licensee  I  Kansas Licensed Mortgage Company  I  Licensed by the Mississippi Department of Banking and Consumer Finance I  Licensed by the New Hampshire Banking Department  I  Licensed by the N.J. Department of Banking and Insurance  I  Licensed Mortgage Banker–NYS Banking Department I  Rhode Island Licensed Lender

 

Posted on

Market Activity ~ Sept 26-Oct 2, 2016

Ah, Fall…

It brings back memories of when I bought my Lake Oswego home.  My son was in 2nd grade many years ago, and I wanted him to be able to attend Lake Oswego schools, so we put our home on the market, sold it quickly and moved to our new home on Thanksgiving Day. I remember the leaves were flying in the breeze through my lovely new garden. I chose the Palisades Neighborhood which boasts a fabulous dog park at Luscher Farm, Palisades Market (which is just *the best*), quick access down McVey/Stafford into Portland via Hwy 43 as well as views of the valley and all the amenities… the Lake Theater & Cafe  close by where you can wait for a movie with a view of the lake, Christmas Trees every year from the Boy Scout Troop at George Rogers Park, shopping at Chico’s and the other fine shops at Lake View Village, eating on or near the lake at several fine establishments including Manzana, Stikmen & Tucci’s. I began my real estate practice in Lake Oswego, and took on the many roles of an active mom who wanted the best for my son in those days.  I served as Publicity Chair and then President of the former Waluga Jr High Booster Club, and learned to Love the community with each passing year.

Fall is a fabulous time to buy a home in Lake Oswego ; )

Happy hunting!

Linda

___________________________________________

Last week we saw 10 New properties enter, 18 move to Pending status, and 19 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Sept 26-Oct 2, 2016)

Address List Price # Beds # Baths Total SF Prop Type
668 MCVEY AVE/Lower $475,000 3 1.1 992 CONDO
4575 OAKRIDGE RD $560,000 3 2.1 2040 ATTACHD
1264 ROCKINGHORSE LN $599,000 4 2.1 2293 DETACHD
1175 HALLINAN CIR $735,000 4 3 3341 DETACHD
878 10TH ST $879,000 2 2 1900 DETACHD
605 COUNTRY CLUB RD $1,100,000 4 2.2 3422 DETACHD
18402 ANDUIN TER $1,185,000 4 3.1 4166 DETACHD
653 A AVE $1,339,000 3 2.1 2628 DETACHD
1968 CHERYL CT $1,599,000 4 4.3 6153 DETACHD
16538 MAPLE CIR 1150000 – 1225000 4 3.1 3174 DETACHD


SOLD (Sept 26-Oct 2, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
3928 CARMAN DR $239,900 2 2.1 1130 CONDO 5
18540 KRISTI WAY $329,950 3 1.1 1246 DETACHD 50
5040 TUALATA LN $339,000 3 1 1389 DETACHD 30
94 GREENRIDGE CT $364,900 3 2 1752 ATTACHD 27
38 GREENRIDGE CT $365,000 3 2.1 1996 ATTACHD 46
9 ORIOLE LN $399,830 3 3 1928 DETACHD 318
5051 W SUNSET DR $484,000 2 2.1 1734 ATTACHD 58
1706 MEADOWS DR $499,900
Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4619 LAKEVIEW BLVD / Grnd $129,000 $120,000 1 1 753 CONDO 30
217 CERVANTES / Lower $219,000 $219,000 2 1.1 1204 CONDO 9
54 GALEN ST / Upper $248,000 $225,000 2 2 995 CONDO 32
16443 LAKE FOREST BLVD $395,000 $411,000 3 2 1474 DETACHD 4
4188 COBB WAY $575,000 $480,000 6 3 2577 DETACHD 51
19080 INDIAN SPRINGS CIR $450,000 $490,000 3 2 2235 DETACHD 4
18715 INDIAN CREEK DR $529,900 $532,000 3 2 2076 DETACHD 118
510 COUNTRY CLUB RD $655,000 $532,000 4 3 3274 DETACHD 105
4962 HARVARD CT $559,000 $535,000 4 2.1 2522 DETACHD 42
18121 PIONEER CT $648,000 $648,000 4 2.1 2310 DETACHD 41
5 CELLINI CT $788,900 $699,900 5 3.1 4659 DETACHD 178
100 LEONARD ST / Upper $749,000 $730,000 3 2.1 2734 CONDO 17
29 HILLSHIRE DR $799,000 $805,000 3 2.1 4638 DETACHD 0
1300 ANDREWS RD $1,290,000 $1,072,000 5 3 4810 DETACHD 60
14599 DORIS AVE $1,143,666 $1,132,477 5 3.1 3903 DETACHD 0
1131 NORTHSHORE RD $1,350,000 $1,200,000 4 3 3850 DETACHD 374
629 5TH ST $1,385,000 $1,295,000 4 2.1 2985 DETACHD 53
1814 Highlands LOOP $1,700,000 $1,700,000 3 4.1 5635 DETACHD 224
13600 GOODALL RD $2,295,000 $2,100,000 6 6.1 6612 DETACHD 44

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.

Posted on

News & Notes ~ August 2016

Here are the latest/August numbers for the entire Portland area:

According to the RMLS Market Action Report for the Portland Metro Area, June, 2016:

  • There were 4,203 New Listings in August which was down 3.9% from July, and up 8.3% from August of 2015.
  • At 3,001, August Closed Sales were up 8.1% from July’s 2,776, and down 3.1% from August of 2015’s 3,098.
  • August Pending Sales (Accepted Offers), at 3,325 were up  0.7% from July’s 3,302, and were also  0.7% lower than August of 2015’s 3,347.
  • The Average Sale Price in August of $400,100 was down $7,000 from July’s $407,100, and also up around $35,500 from August of 2015’s $364,600. 

_____________________________________________________

The combined areas of Lake Oswego and West Linn  (RMLS lumps them together) for the month of August 2016 reported:

    •  452 Active Listings (July/410)
    •  229 New Listings    (July/288)
    •  162 Pending Sales  (July/189)
    •  166 Closed Sales     (July/165)
    • Average Sale Price for August: $619,600   (July/ $650,200)
      • 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.
    • Average Time on the Market: 59 Days  (July /45)
Posted on

Market Activity ~ Sept 5-11, 2016

Last week we saw 13 New properties enter the market, 12 move to Pending status, and 13 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Sept 5-11, 2016)

Address List Price # Beds # Baths Total SF Prop Type
86 KINGSGATE RD #i204 $159,000 2 2 840 CONDO
4 TOUCHSTONE #140 $185,000 3 2.1 1351 CONDO
76 GALEN ST #76 $199,900 2 2 989 CONDO
16250 PACIFIC HWY #43 $255,000 2 2 1311 CONDO
16724 ROOSEVELT AVE $379,995 3 1.1 1270 DETACHD
31 GREENRIDGE CT $449,000 3 2.1 2002 ATTACHD
15450 KIMBALL CT $475,000 4 2 1544 DETACHD
7 SCARBOROUGH DR $754,900 4 2.1 3367 DETACHD
4265 ALBERT CIR $826,600 5 3.1 3022 DETACHD
4635 DOGWOOD DR $950,000 4 3 4327 DETACHD
716 LAKE SHORE RD $999,000 3 2 1860 DETACHD
18840 HILL TOP RD $1,195,000 3 3.1 4216 DETACHD
19371 RIVERWOOD LN $1,300,000 4 4.1 5034 DETACHD

PENDING SALES (Sept 5-11, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4619 LAKEVIEW BLVD #Grnd $119,000 1 1 753 CONDO 30
354 CERVANTES CIR #1C $158,000 2 1.1 912 CONDO 9
94 GREENRIDGE CT $369,000 3 2 1752 ATTACHD 6
17 ORIOLE LN $425,000 3 2.1 1800 DETACHD 3
6423 FROST ST $539,000 3 2.1 2548 DETACHD 304
950 LAKE FRONT RD $549,900 4 2.1 2112 DETACHD 34
5267 LAKEVIEW BLVD $879,900 4 3.1 3454 DETACHD 29
2639 PALISADES CREST DR $948,000 5 4.1 5615 DETACHD 7
13079 AMBER PL $948,000 5 3 3200 DETACHD 165
14112 HEATHROW LN $1,149,000 5 3.1 4828 DETACHD 133
1666 LAKE FRONT RD $1,279,000 4 3 3183 DETACHD 27
610 4TH ST $1,575,000 4 2.1 3394 DETACHD 31

SOLD (Sept 5-11, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
14 OSWEGO SMT $165,000 $180,000 1 1 764 CONDO 6
12824 SW BOONES FERRY RD $314,999 $300,000 2 2.1 1398 ATTACHD 7
3765 LANEWOOD ST $395,000 $405,000 3 2 1482 DETACHD 3
668 MCVEY AVE #52 $450,000 $448,000 3 1.1 992 CONDO 116
4951 BILFORD LN $469,000 $485,000 2 2 1823 DETACHD 4
653 3RD ST $575,000 $520,000 3 2 1270 DETACHD 95
14 WALKING WOODS DR $550,000 $536,000 4 3 2930 DETACHD 32
2063 RIDGEWOOD RD $699,000 $670,000 4 2.1 2532 DETACHD 28
2329 STONEHURST CT $825,000 $785,000 4 3 3622 DETACHD 23
3600 SOUTHSHORE BLVD $995,000 $1,000,000 3 2.1 2117 DETACHD 5
729 3RD ST $1,061,110 $1,052,208 3 3 2748 DETACHD 0
3119 WEMBLEY PARK RD $1,100,000 $1,100,000 4 3.1 3633 DETACHD 1
877 9TH ST $1,150,000 $1,150,000 3 2.1 2762 DETACHD 0

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.

Posted on

Market Activity ~ Aug 15-21, 2016

Last week we saw 19 New properties enter the market, 24 move to Pending status, and 16 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Aug 15-21, 2016)

Address List Price # Beds # Baths Total SF Prop Type
38 GREENRIDGE CT $365,000 3 2.1 1996 ATTACHD
4214 WOODSIDE CIR $369,000 3 2.1 1841 ATTACHD
35 BLOCH TER $400,000 3 2.1 1987 ATTACHD
4291 COLLINS WAY $405,000 3 2 1482 DETACHD
4752 REMBRANDT LN $439,900 3 2.1 1655 DETACHD
937 COUNTRY CLUB RD $524,900 3 1 1715 DETACHD
2565 BREE CT $639,900 3 2.1 2967 DETACHD
17225 GREENTREE AVE $695,000 4 3 2718 DETACHD
17465 UPPER CHERRY LN $695,000 4 3 3856 DETACHD
4164 MELISSA DR $759,000 4 2.1 2650 DETACHD
17700 LEAFY LN $779,500 4 2.1 3666 DETACHD
14867 TWIN FIR CT $799,000 5 3.1 3641 DETACHD
18171 BRYANT RD $799,000 3 0.2 2984 DETACHD
17867 SUNDOWN CT $849,900 3 3.1 2765 DETACHD
4176 UPPER DR $869,000 4 3 2938 DETACHD
515 10TH ST $1,200,000 3 2.1 2821 DETACHD
462 9TH ST $1,390,000 5 3.1 4377 DETACHD
333 NORTHSHORE RD $3,597,500 4 4.1 5150 DETACHD
919 WESTPOINT RD $4,600,000 4 4 4795 DETACHD

PENDING SALES (Aug 15-21, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4000 CARMAN DR #A10 $169,900 2 2 836 CONDO 5
169 OSWEGO SMT #169 $199,999 2 2 1383 CONDO 123
217 CERVANTES / Lower $219,000 2 1.1 1204 CONDO 9
219 CERVANTES $220,000 2 2 1100 CONDO 44
54 GALEN ST / Upper $229,900 2 2 995 CONDO 32
15460 BRIANNE CT $320,000 2 2.1 1250 ATTACHD 3
5228 BONITA RD $349,900 4 2.1 2200 DETACHD 3
5432 KENNY ST $379,900 3 1 1352 DETACHD 20
668 MCVEY AVE #52 $450,000 3 1.1 992 CONDO 116
2395 GREENTREE RD $539,000 4 2.1 2832 DETACHD 17
350 6TH ST $539,900 4 2 2304 DETACHD 36
1920 PARK FOREST AVE $575,000 3 3 2679 DETACHD 7
2600 PARK RD $624,900 3 3 2240 DETACHD 5
29 HILLSHIRE DR $799,000 3 2.1 4638 DETACHD 0
2329 STONEHURST CT $825,000 4 3 3622 DETACHD 23
1172 TROON RD $827,500 5 3.1 2504 DETACHD 103
17432 KELOK RD $1,025,000 3 2.1 2884 DETACHD 33
527 10TH ST $1,150,000 4 3.1 2677 DETACHD 62
721 7TH ST $1,249,000 4 3.1 4544 DETACHD 42
629 5TH ST $1,299,000 4 2.1 2985 DETACHD 53
13012 KNAUS RD $1,825,000 4 3.2 4796 DETACHD 49
12740 FIELDING RD $2,100,000 4 2.1 3453 DETACHD 111
12850 FIELDING RD $2,500,000 9 9.2 19444 DETACHD 25
1193 FAIRWAY RD $2,998,000 5 4.2 7028 DETACHD 987

SOLD (Aug 15-21, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
1774 RIDGECREST DR $125,000 $1,240,000 2 2 2053 DETACHD 6
79 OSWEGO Summit #79 $199,900 $200,000 2 2 1212 CONDO 3
1652 BONNIEBRAE DR $279,900 $257,000 3 1.1 1303 ATTACHD 11
5495 TREE ST $355,000 $355,000 3 1.1 1388 DETACHD 3
4841 SW DAWN ST $425,000 $435,000 3 2 1550 DETACHD 6
438 ASH ST $439,900 $450,000 4 3 2372 DETACHD 3
2132 GOODALL CT $566,500 $580,000 4 3 2577 DETACHD 4
5028 GREENSBOROUGH CT $569,900 $485,000 4 2.1 2358 DETACHD 43
6 WALKING WOODS DR $575,000 $550,000 4 2.1 2870 DETACHD 54
12140 ORCHARD HILL WAY $644,000 $645,000 4 2.1 3169 DETACHD 8
2 WALKING WOODS DR $649,900 $629,950 4 3 4116 DETACHD 76
3718 RIVERS EDGE DR $739,000 $739,000 4 2.1 2512 DETACHD 9
603 ATWATER RD $768,000 $750,000 5 3.1 3430 DETACHD 10
13596 STREAMSIDE DR $788,000 $740,000 4 2.1 3430 DETACHD 55
1175 CHERRY CIR $1,488,500 $1,275,000 6 4.1 6300 DETACHD 367
3130 DOUGLAS CIR $1,499,999 $1,499,999 4 3.1 3970 DETACHD 4

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.

Posted on

Tips & Tidbits ~ Seasonal Changes

SummerSeasonal Changes –

Sellers~The market has been unusually activated since about January of this year. In the summer (starting approx July 4th weekend) things typically slow down just a teensy bit as people leave for vacation and many have found the homes they were looking for prior to the school-year-start in September (ie the pool of Buyers lessens some).  Sellers who put their homes on the market now will still find plenty of interest as you can ascertain from our Market Activity Reports, and/but may be disappointed if they do not have a bidding war as they’ve been hearing about for awhile now.  I’m not saying the market is not still good for selling, (and, there ARE ways to encourage multiple Offers at any time of year) …just be prepared for the slight change in atmosphere, which sometimes translates to not quite as much leverage when you’re the Seller.  ***That said, it is all case-by-case. Why is the Buyer buying?  Do they need to be settled before the school year starts?  Have they lost out on other deals due to competitive bidding? You may or may not be able to find out, but if you DO know the answers to some of these questions, it can help you respond to your highest advantage. Trust your Realtor, or if you don’t have one, give me or one of us a call and we’ll be happy to help you through the changing landscape.

Buyers~A Buyer’s perspective is a little different.  If you’ve been out looking and fighting for houses and losing, now may be your moment.  As I mentioned above, the market has been hyper-active for a while now.  As we move toward Fall, a couple of factors are in your favor. The first is that the pool of Buyers is lessening a bit for the reasons I mentioned above. This means you may not  be in a competitive situation, or it may be with fewer Buyers if you are. Use the lessons you’ve learned already through trial and error. Make your Offer as strong as you are comfortable with.  Talk to your Realtor (or to myself or one of us if you do  not have a Realtor) and we can walk you through some ways to do that. Talk to your lender once again and revisit your strategy.  If you are unsure of how your Offer price would impact you as far as your monthly payment is concerned, I always suggest having 3 dollar-amount scenarios drawn up.  I find that most Buyers are surprised at how little their monthly payment is affected by making what seems to them to be a big jump in their Offer price. Bottom line: you need to be comfortable with your Offer.  AND, you may be surprised at what the possibilities are for you, and sometimes this can make a difference in getting the home you really want in a still-competitive market.

Looking GlassOther Factors~Appraisals are really becoming more of an issue than even a month or so ago when Dianne mentioned them in a post herein.  I advise my Buyer clients to talk to their lender about expediting their Appraisal in nearly every case. This costs money, so you need  to assess what you can and are willing to do, but it is often a hundred or two dollars, and can mean the difference between Closing on time or not. ***That said, I have heard multitudes of horror stories in the last few weeks about Appraisals taking **weeks or months** longer unless someone pays an exorbitant amount sometimes in the thousands of dollars.  I don’t mean to scare anyone. I just averted a near-disaster in this regard, and having a Realtor and lender with their eyes on the ball in this market is imperative, but this is apparently happening if there are any variables at all in a transaction that will limit the appropriate Appraisers who might be available/qualified etc. Sometimes the type of loan (VA, FHA, USDA) can limit the pool of Appraisers (I’m told) as can location of the property (is it outside of the metro area?).

The reasons for this mess are varied, but it apparently boils down to supply and demand, coupled with the newer regulations on mortgage companies. No longer can a mortgage company call an Appraiser they happen to know is familiar with a particular neighborhood or area of town. For everyone’s protection (to prevent collusion/nefarious behaviour/trying to get a particular value out of the Appraiser) mortgage companies now have to put the order in to an “Appraisal Scheduling” company. That company has a stable of Appraisers, and it is all handled mechanically.  There is apparently a dearth of Appraisers due to more stringent requirements for becoming an Appraiser (I’m told), and therefore the stacks on Appraisers desks are getting higher and their time and availability to run out to more rural areas or even here in town is more scarce.

Best to set a longer timeframe for Closing to be on the safe side if you can (talk to your Realtor about what makes sense in your particular situation), and order it right away. Ordering it right away may mean that you are risking the money you pay for the Appraisal (instead of waiting till after you’ve inspected enough to know you want to proceed), but, depending on your unique circumstance, it may be your best bet.

Hope this info was helpful.

Very Best,

Linda

 

Posted on

Market Activity ~ July 25-31, 2016

Beautiful homes in Lake Oswego… They come on the market… and they pass into the care of excited new owners. Its a wonderful thing ; )

Last week we saw 18 New properties enter the market, 24 move to Pending status, and 19 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 25-31, 2016)

Address List Price # Beds # Baths Total SF Prop Type
45 EAGLE CREST DR #211 $219,000 2 2 1046 CONDO
5432 KENNY ST $379,900 3 1 1352 DETACHD
17766 ARBOR LN $509,900 3 2 1561 DETACHD
17911 LAKE HAVEN DR $563,000 4 2.1 2136 DETACHD
905 COUNTRY CLUB RD $599,500 3 2.1 2817 DETACHD
4801 Heritage LN $627,500 3 2.1 2205 DETACHD
19 WESTRIDGE DR $659,999 4 3 3711 DETACHD
1900 GREENTREE RD $695,000 4 3 3032 DETACHD
17372 HUNTER CT $699,000 3 2.1 3292 DETACHD
952 A AVE $739,900 3 2 2900 DETACHD
17771 MARYLCREEK DR $765,000 4 3.1 4398 DETACHD
2033 RIDGEWOOD RD $775,000 4 2.1 2668 DETACHD
2329 STONEHURST CT $825,000 4 3 3622 DETACHD
737 ASH ST $825,000 4 2 2428 DETACHD
840 BOCA RATAN DR $849,900 4 3.1 4114 DETACHD
18260 River Edge CT $949,000 4 3.1 4711 DETACHD
115 3rd ST #115 $999,000 4 2.1 2453 CONDO
1515 CHERRY LN $1,350,000 5 3.1 5593 DETACHD

PENDING SALES (July 25-31, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE DR #108 $136,000 3 2.1 1351 CONDO 26
47 EAGLE CREST DR #21 $149,000 2 1 932 CONDO 767
3974 CARMAN DR $229,900 2 2.1 1107 CONDO 31
193 OSWEGO SMT $235,000 2 2 1383 CONDO 6
!B $269,000 3 2 1538 CONDO 10
2 SW MOUNTAIN CIR $299,000 2 1.1 1372 ATTACHD 16
5060 FOOTHILLS DR #96 $305,000 3 2 1252 CONDO 2
5495 TREE ST $355,000 3 1.1 1388 DETACHD 3
15422 PARTRIDGE DR $475,000 4 2.1 1872 DETACHD 17
1935 FERNWOOD DR $495,000 4 3 2100 DETACHD 26
5028 GREENSBOROUGH CT $524,900 4 2.1 2358 DETACHD 43
14 WALKING WOODS DR $536,000 4 3 2930 DETACHD 32
4 Essex CT $549,900 4 2.1 2835 DETACHD 7
4951 GALEN ST $549,900 3 2.1 2543 DETACHD 52
3845 TEMPEST DR $574,000 4 2.1 2000 DETACHD 11
13040 PRINCETON CT $674,900 4 2.1 3135 DETACHD 32
2063 RIDGEWOOD RD $679,000 4 2.1 2532 DETACHD 28
4090 BUCK BRUSH LN $699,000 4 3 3128 DETACHD 5
5955 SUNBROOK DR $780,000 4 3 3110 DETACHD 2
5350 LAKEVIEW BLVD $799,000 7 3.5 3005 DETACHD 6
17259 LOWENBERG TER $895,000 4 2.1 2955 DETACHD 5
1049 NORTHSHORE PL $939,900 3 4 2274 DETACHD 13
1774 RIDGECREST DR $1,250,000 2 2 2053 DETACHD 6
12850 FIELDING RD $2,500,000 9 9.2 19444 DETACHD 7

SOLD (July 25-31, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
20 CRESTFIELD CT/Upper $175,000.00 $175,000.00 2 1.1 923 CONDO 7
61 OSWEGO SMT #61 $215,000.00 $196,000.00 2 2 1212 CONDO 28
3930 CARMAN DR $229,900.00 $224,000.00 2 2.1 1146 CONDO 67
44 GREENRIDGE CT $369,000.00 $380,000.00 3 2.1 1996 ATTACHD 1
40 WHEATHERSTONE $389,900.00 $385,000.00 3 2.1 1692 CONDO 37
86 GREENRIDGE CT $399,000.00 $414,000.00 3 2 2652 ATTACHD 1
15393 MEADOWLARK CT $474,500.00 $474,900.00 2 2 1576 DETACHD 2
1412 MAPLE ST $475,000.00 $475,000.00 3 1.1 1540 DETACHD 1
386 LIVINGOOD LN $519,000.00 $519,000.00 4 3 2452 DETACHD 5
775 HEMLOCK ST $499,900.00 $536,000.00 3 2 2038 DETACHD 4
320 DURHAM ST #2 $569,500.00 $562,000.00 3 2.1 1876 CONDO 9
4199 FRUITWOOD CT $525,000.00 $565,000.00 3 2 2230 DETACHD 6
1641 ASH ST $575,000.00 $595,000.00 4 3 2764 DETACHD 5
3 SCARBOROUGH DR $685,000.00 $600,000.00 5 4 3778 DETACHD 35
659 4TH ST $785,000.00 $812,475.00 3 2.1 2388 DETACHD 5
13607 MELROSE PL $869,500.00 $825,000.00 4 3.1 3892 DETACHD 25
412 8TH ST $948,000.00 $888,000.00 3 2.1 2580 DETACHD 33
18360 RIVER EDGE LN $1,029,000.00 $995,000.00 4 2.1 3948 DETACHD 3
448 COUNTRY CLUB RD $1,595,000.00 $1,400,000.00 4 3.1 4873 DETACHD 41

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.

Posted on

News & Notes ~ June 2016

Here are the latest/June numbers for the entire Portland area:

According to the RMLS Market Action Report for the Portland Metro Area, June, 2016:

  • There were 4,501 New Listings in June which was up 8.6% from May, and up 5.2% from May of 2015.
  • At 3,158, June Closed Sales were up 9% from May’s 2,896, and down 4.4% from June of 2015’s 3,302.
  • June Pending Sales (Accepted Offers), at 3,390 down  4.9% from May’s 3,563, and were also  6% lower than June of 2015’s 3,605.
  • The Average Sale Price in June of $412,000 was up $9,500 over May’s $402,500, and also up around $42,500 from June of 2015’s $369,500. 

_____________________________________________________

The combined areas of Lake Oswego and West Linn  (RMLS lumps them together) for the month of June 2016 reported:

    •  410 Active Listings 
    •  288 New Listings   
    •  189 Pending Sales
    •  165 Closed Sales 
    • Average Sale Price for June: $650,200
      • 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.
    • Average Time on the Market: 45 Days
Posted on

Market Activity ~ July 4-10, 2016

Steady as she goes… In the summertime in beautiful, Lake Oswego : )

Last week we saw 22 New properties enter the market, 18 move to Pending status, and 18 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 4-10, 2016)

Address List Price # Beds # Baths Total SF Prop Type
44 EAGLE CREST DR #12 $139,888 1 1 798 CONDO
47 EAGLE CREST DR #13 $154,900 2 1 932 CONDO
4000 Carman DR #71 $189,900 2 2 834 CONDO
93 KINGSGATE RD $415,000 3 2.1 1669 DETACHD
4841 SW DAWN ST $425,000 3 2 1550 DETACHD
2255 GREENTREE RD $450,000 4 2.1 2309 DETACHD
17927 BELMORE AVE $489,000 3 1.1 1488 DETACHD
17760 CARDINAL DR $534,900 4 2.1 2199 ATTACHD
2132 GOODALL CT $566,500 4 3 2577 DETACHD
18521 WAXWING CIR $600,000 3 2.1 2936 DETACHD
1002 HEMLOCK ST $624,990 3 2.1 1950 DETACHD
1590 LARCH ST $640,000 5 2.1 2836 DETACHD
12140 ORCHARD HILL WAY $644,000 4 2.1 3169 DETACHD
4279 ALBERT CIR $685,000 3 2.1 2768 DETACHD
18183 WESTMINSTER DR $740,000 3 2.1 3191 DETACHD
5326 WESTFIELD CT $779,000 4 3.1 3259 DETACHD
17572 SHEPHERDS CT $879,900 4 3 2983 DETACHD
3600 SOUTHSHORE BLVD $995,000 3 2.1 2117 DETACHD
3 DOVER WAY $1,099,000 5 3.2 4988 DETACHD
1350 RIDGECREST DR $1,100,000 4 3.1 3534 DETACHD
721 7TH ST $1,249,000 4 3.1 4544 DETACHD
1640 COUNTRY CMNS $1,595,000 4 4.1 5343 DETACHD

PENDING SALES (July 4-10,, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #21 $149,000 2 1 932 CONDO 746
366 CERVANTES CIR #14c $160,000 2 1 832 CONDO 2
169 OSWEGO SMT #169 $164,998 2 2 1383 CONDO 79
88 GALEN ST/Upper $168,800 2 1 923 CONDO 2
71 GREENRIDGE CT $365,000 3 2.1 2004 CONDO 23
18610 BENFIELD AVE $419,000 3 1.1 1407 DETACHD 17
15393 MEADOWLARK CT $474,900 2 2 1576 DETACHD 2
18927 INDIAN CREEK AVE $475,000 3 2 2394 DETACHD 27
4188 COBB WAY $499,000 6 3 2577 DETACHD 51
6 WALKING WOODS DR $550,000 4 2.1 2870 DETACHD 54
18121 PIONEER CT $648,000 4 2.1 2310 DETACHD 15
5714 CHARLES CIR $649,900 4 3 2501 DETACHD 18
4801 WILDWOOD ST/Main $659,950 4 3 2963 DETACHD 45
3718 RIVERS EDGE DR $739,000 4 2.1 2512 DETACHD 9
5519 BAY CREEK DR $784,900 4 2.1 3415 DETACHD 14
4069 PFEIFER CT $879,000 5 3.1 4332 DETACHD 102
16830 CHAPIN WAY $949,000 5 3 3097 DETACHD 22
780 NORTHSHORE RD $2,222,000 3 2.1 2201 DETACHD 10

SOLD (July 4-10,, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #9 $145,000 $139,000 2 1.1 823 CONDO 5
2 St. Helens CIR $374,000 $375,000 3 2 1464 DETACHD 6
7 PEACOCK PL $400,000 $422,000 3 2.1 1388 DETACHD 4
2760 OVERLOOK DR $578,500 $532,000 4 2.1 2441 DETACHD 70
21 PARTRIDGE LN $554,900 $548,000 4 3 2478 DETACHD 5
14450 HOLLY SPRINGS RD $550,000 $550,000 3 3 2238 CONDO 78
4954 MULHOLLAND DR $589,900 $585,000 3 2.1 2498 ATTACHD 22
1430 WOODLAND TER $579,000 $592,000 5 3 2904 DETACHD 8
5950 SOUTHWOOD DR $775,000 $660,000 3 2.1 2731 DETACHD 40
17821 HILLSIDE WAY $699,900 $700,000 4 3.1 3480 DETACHD 2
19505 OLSON AVE $748,950 $720,000 5 2.1 2952 DETACHD 54
4719 LAKEVIEW BLVD $725,000 $725,000 3 2.1 2923 DETACHD 5
1269 LAKE GARDEN CT $899,000 $828,000 4 2.1 2056 DETACHD 202
336 5TH ST $875,000 $875,000 3 2.1 2018 DETACHD 100
2125 RIDGE POINTE DR $995,000 $945,000 3 3.1 3489 DETACHD 14
12747 SW 22ND AVE $1,249,800 $1,170,000 4 3.1 4546 DETACHD 362
454 9TH ST $1,198,000 $1,174,000 3 4 3278 DETACHD 25

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.