Author: Linda Rossi

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Open Houses ~ Feb 3, 2013

There are 12 Homes being held Open Sunday according to RMLS. Enjoy!

Address L/Price # Beds # Baths Total SF Prop Type Time
13901 SUNDELEAF DR $379,900 4 3 1900 DETACHD 1-3PM
15950 PARKER RD $562,500 4 2.1 2611 DETACHD 1-4PM
559 2ND ST #206 $570,000 2 2 1420 CONDO 1-3PM
15655 FIELDSTONE DR $589,500 4 2.1 2750 DETACHD 12-2PM
5533 FIELDSTONE CT $599,500 4 2.1 3115 DETACHD 12-2PM
17393 GRANDVIEW CT $659,900 4 3.1 3672 DETACHD 12-2PM
135 MIDDLECREST RD $669,900 3 2.1 2882 DETACHD 1-3:30PM
2065 LILLI LN $695,000 5 3.2 4112 DETACHD 12-PM
831 NORTHSHORE RD $800,000 3 2.1 2200 DETACHD 1-4PM
16805 SCOTT CT $892,000 4 3.1 4321 DETACHD 12-2PM
2070 WEMBLEY PARK RD $998,000 5 4.1 4935 DETACHD 1-3PM
13068 KNAUS RD $1,450,000 5 5.3 6512 DETACHD 12-3PM
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News & Notes

thinkingA few tips from Linda:

* When pricing your home, please take all that your Realtor has shown you in the way of comps, and let yourself have some time to consider your options. There are various pricing strategies, but the most common one favored by Sellers is over-pricing. That is just a well-known fact to anyone in this business. It’s why, when a Realtor sells their own home, they usually ask for a reality-check from their peers : ) It’s natural, if you love your home, to believe it will fetch more than, perhaps, what your Realtor is telling you it will. It’s also natural, as the Seller, to be concerned about offers coming in below your “fair” price and therefore lowering that price… Much to your chagrin. I get it. I’ve sold my own homes too. BUT, I will tell you that, if you overprice your home, it will likely cost you money by:
– Sitting on the market too long, and giving the impression that “something must be wrong with this one”,
– Causing you to eventually have to lower the price anyway… probably lower than what you would have priced it at originally given these other factors, and the factor of time, and
– Keep Buyers away who are only searching in price ranges below your higher number.

* In a transaction where you are the Buyer, and “lender issues” are causing you to bump up uncomfortably close to your “on or before” closing date, your Realtor will most likely talk with you about writing up an addendum to “extend the closing date” to accommodate your lending timeline. You need to know though, that this is not a sure deal, and the Seller can say no. If your Seller says no, then you need to think seriously about terminating the transaction in writing before that date if you cannot “perform” (i.e., can’t get a loan).
– If your lending issues are related to you trying to get a better rate (as in… you qualified and would have closed on time, but you decided to try for a different loan package in the middle of the transaction), and your Seller does not agree to extend the date, you need to know that you may lose your Eanest Money. The contract states that you need to be able to secure a loan, so Buyers are generally protected if they can’t… BUT, not closing on time for this reason would not be related to that provision. You could secure a loan, but chose to try for a “better” one. Many Seller’s Agents will ask to see a statement from the Underwriter in these kinds of instances to check on just this kind of sticking point.
– If your loan problems are our of your hands, and you think you have good communication with the other parties, so decide not to bother creating an addendum extending the closing date (your lender could be slow, or you could really be having problems getting a loan), you could, again, potentially lose your Earnest Money, as the contract states “time is of the essence”, and in fact, that is a legal term that means that deadlines in the contract trump all other provisions. It has happened that a Buyer could not obtain a loan, had passed the closing date, and didn’t bother to get an extension addendum signed as they were still trying to make it happen & thought the Sellers were on the same page with them….. Later on, even though they really could not get funding, it was decided that the Sellers could keep the Earnest Money because there had been neither an addendum nor termination completed.

As always, Dianne and I are here for you, and would be happy to assist you in your home-buying or -selling adventure if you are not already working with another Realtor. We encourage you to listen to your Realtor. They are here to help you.
Enjoy the Oregon sunshine!

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Market Activity~Jan 14-20, 2013

Activity is good with 17 New on the market, 8 Pending and 10 Sold during the last 7-day period in Lake Oswego.

Here are further details on last week’s Market Activity:

NEWLY LISTED (Jan 14-20, 2013)

Address List Price # Beds # Baths Total SF Prop Type
26 CRESTFIELD CT $84,900 2 2 989 CONDO
1547 BOCA RATAN DR $188,950 2 1.1 1008 ATTACHD
885 MCVEY AVE $219,900 3 1 1292 DETACHD
14598 WILMOT WAY $369,000 4 2.1 1960 DETACHD
16901 LAKERIDGE DR $375,000 4 3 2080 DETACHD
13901 SUNDELEAF DR $379,900 4 3 1900 DETACHD
686 SUNNY HILL DR $499,900 4 2.1 2392 DETACHD
4673 Lakeview BLVD $500,000 3 2 2061 DETACHD
1021 YATES ST $500,000 3 2.1 1985 DETACHD
559 2ND ST #206 $570,000 2 2 1420 CONDO
19342 RIVERWOOD LN Lot 6W $579,900 4 2.1 2806 DETACHD
13059 AMBER PL $589,800 5 3 3240 DETACHD
18020 JENIFERS WAY $589,800 4 2.1 2966 DETACHD
1255 BAYBERRY RD $674,900 3 2 2140 DETACHD
96 GARIBALDI ST $769,900 3 3.1 4819 DETACHD
567 6TH ST $825,000 4 3.1 2568 DETACHD
18132 SIENA DR $1,089,000 4 3.1 3565 DETACHD

PENDING SALES (Jan 14-20, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
86 KINGSGATE RD E201 $96,300 2 2 938 CONDO 13
4071 JEFFERSON PKWY 102 $169,900 3 2.1 1228 CONDO 3
1041 HEMLOCK ST $299,900 4 3 2623 DETACHD 170
980 C AVE $415,000 3 2 1312 DETACHD 110
621 COUNTRY CLUB RD $449,900 4 2.1 3303 DETACHD 185
1172 TROON RD $559,000 4 3.1 2504 DETACHD 220
18096 Pilkington RD $599,900 3 2.1 3182 DETACHD 272
568 9TH ST $799,900 3 3.1 2825 DETACHD 759

SOLD (Jan 14-20 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
36 AQUINAS ST $339,999 $305,000 3 2 1606 DETACHD 94
16747 BONAIRE AVE $349,900 $330,000 3 2 1610 DETACHD 86
1610 ASH ST $375,000 $365,400 3 2 2181 DETACHD 48
39 TANGLEWOOD DR $435,000 $417,000 4 3 3124 DETACHD 91
3838 RIVERS EDGE DR $525,000 $498,900 4 2.1 2806 DETACHD 57
444 10TH ST $549,000 $520,000 4 2 1876 DETACHD 88
2420 PALISADES CREST DR $699,500 $545,000 4 2.1 3471 DETACHD 188
5193 DENTON DR $635,000 $604,000 4 2.1 3076 DETACHD 114
543 2nd ST $699,000 $675,000 2 2 1816 CONDO 111
18137 MEADOWLARK LN $1,350,000 $1,150,000 4 4.1 5935 DETACHD 38

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 ~ Jan 20, 2013

There is a whole lot of Buying activity in real estate this weekend, and there are 22 Open Houses in Lake Oswego Sunday! Perhaps one is “the one” for you:

Address L/Price # Beds # Baths Total SF Style Time
14598 WILMOT WAY $369,000 4 2.1 1960 DETACHD 1-4PM
1288 ROCKINGHORSE LN $382,500 3 2 1742 DETACHD 2-4PM
979 DEVON LN $385,000 3 3.1 2162 DETACHD 1-4PM
13005 PRINCETON CT $413,000 3 2.1 2294 DETACHD 1-4PM
15495 TANAGER DR $429,000 4 2.1 2255 DETACHD 1-3PM
136 D AVE $439,000 2 2.1 1754 DETACHD 12-1:30PM
600 MAPLE ST $445,500 3 2.1 2416 DETACHD 1-3PM
1429 GREENTREE CIR $459,500 4 2.1 2599 DETACHD 2-4PM
13080 PRINCETON CT $463,900 5 3 3661 DETACHD 12-3PM
4890 SAGE HEN CIR $499,900 4 2.1 2832 DETACHD 1-3PM
17802 TREETOP LN $529,000 4 3.1 3655 DETACHD 1-3PM
15655 FIELDSTONE DR $589,500 4 2.1 2750 DETACHD 12-2PM
2302 OVERLOOK DR $589,900 4 2.1 3125 DETACHD 1-3PM
5533 FIELDSTONE CT $599,500 4 2.1 3115 DETACHD 12-2PM
12424 ORCHARD HILL RD $599,950 3 3 2889 DETACHD 1-4PM
1131 DEVON LN $599,990 3 3.1 3179 DETACHD 1-3PM
1921 GLENMORRIE LN $624,000 3 3 2375 DETACHD 1-3PM
1015 SOUTHSHORE BLVD $638,500 4 3 3882 DETACHD 2-4PM
831 NORTHSHORE RD $800,000 3 2.1 2200 DETACHD 1-4PM
329 10TH ST $949,980 4 2.1 3647 DETACHD 1-3PM
17469 KELOK RD $975,000 3 2.1 2675 DETACHD 1-3PM
112 NORTHSHORE CIR $1,650,000 3 3.1 3632 DETACHD 11AM-4PM
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News & Notes

A few tips from Linda:

* Be cautious when looking into a “Lease Option” opportunity if one presents itself. For the Seller, it most always means that the bank can, at any time, call for all monies owing from you on the property per your mortgage’s “Due On Sale” clause, as you are technically transferring a form of ownership in an Option. I.e., you could be called upon to pay in full. Contrary to popular belief, setting up a Trust does not get you around the Due On Sale clause either. Best to consult with your Realtor, and/or attorney before embarking on an adventure like this : )
* Remember that all repairs agreed to in a transaction in the State of Oregon must be performed by a licensed, bonded contractor.
* Make sure to give your Lender plenty of time to “close” your transaction when writing your offer. Talk to your Realtor, and make sure to consult with your Lender to see about how long they need. Lately it is typically around 45 days, but each situation is different. Should you not meet your “on or before” closing date as per your Offer contract, the Seller could possibly accept another offer and keep your earnest money… just sayin’ : ) Now, most people will compromise and agree to an addendum extending the closing date, but you cannot guarantee that the Seller will agree to that… If they have, let’s say, received a better verbal offer than yours during the time it has taken to get from agreement to “not meeting” the closing date, they may just decide to opt to take that larger offer. Just a note of caution.

Let’s take a look at the recently released data on real estate for 2012.
Below is some information for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:

According to the RMLS Market Action Report for the Portland Metro Area December, 2012. At 1,760, closed sales were 9.2% higher than December 2011 sales of 1,612. pending sales (or “Accepted Offers”) were down, however, with 1443 in December of 2011, and 1384 in December 2012… putting the market down by 4.1%.

  • 2012 racked up 32,300 new listings, 24,010 accepted offers, and 23,438 closed sales.
  • Compared to 2011, new listings are down 5.2%, pending sales are up by 16.2% overall, and closed sales are up 19.1%.
  • The average sale price in 2012 was $275,000, which is 4.4% higher than 2011’s $263,300.
  • ***AND… Total time on the market has dropped by 21.5% from 143 to 112 days.
  • The overall economic improvement and increase in volume has positively affected the numbers for total dollar volume which rose to $6.45 billion in 2012 from 2011’s $5.2 billion.
  • For our Property Blotter readers, the combined area of Lake Oswego and West Linn reported the following totals for 2012:
    • 2085 New Listings (68 in Dec’12)
    • 1389 Pending Sales (81 in Dec’12)
    • 1364 Closed Sales (108 in Dec’12)
    • An Average Sale Price of $434,800. ($512,100 in Dec’12!!)
    • Prices rose 1.5% in 2012 over 2011’s totals
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Market Activity~Dec 31, 2012-Jan 6, 2013

Happy New Year!
Activity is good with 7 New on the market, 8 Pending and 8 Sold during the last 7-day period in Lake Oswego.
You will notice, if you search for yourself, quite a few more that appear to be “New” on the market, but these are “refreshed” listings. Dianne and I like to present just the actually “New” properties coming on the market as reflected for you below.

Here are further details on last week’s Market Activity:

NEWLY LISTED (Dec 31, 2012-Jan 6, 2013)

Address List Price # Beds # Baths Total SF Prop Type
86 KINGSGATE RD E201 $96,300.00 2 2 938 CONDO
47 EAGLE CREST DR #42 $104,500.00 2 1 932 CONDO
18275 PILKINGTON RD $329,423.00 3 2 2088 DETACHD
1572 HIGHLAND DR $334,500.00 3 2 1950 DETACHD
2390 GREENTREE RD $429,000.00 3 2.1 2380 DETACHD
19310 RIVERWOOD LN Lt 9W $639,900.00 5 4 3110 DETACHD
1972 CHERYL CT $1,999,999.00 5 4.1 6952 DETACHD

PENDING SALES (Dec 31, 2012-Jan 6, 2013 2012)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4000 CARMAN DR #21 $94,500.00 2 2 885 CONDO 72
47 EAGLE CREST DR #C31 $99,000.00 2 1 1009 CONDO 88
5195 FIRWOOD RD $196,000.00 3 2 1886 DETACHD 246
4231 WOODSIDE CIR $267,500.00 3 2 1943 ATTACHD 174
6474 FROST ST $304,900.00 4 2.1 2216 DETACHD 110
6450 FROST ST $314,900.00 4 2.1 2216 DETACHD 111
4231 SUNSET DR $369,900.00 3 2 2229 DETACHD 122
17002 CRESTVIEW DR $395,000.00 3 2.1 2163 DETACHD 34

SOLD (Dec 31, 2012-Jan 6, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
6207 HARRINGTON AVE $199,900.00 $211,000.00 3 1 960 DETACHD 3
18807 SW KRISTI WAY $269,900.00 $248,000.00 3 1.1 1256 DETACHD 6
18444 TUALATA AVE $299,000.00 $252,000.00 3 2 1192 DETACHD 206
1180 HALLINAN CIR $325,000.00 $300,000.00 3 2 1590 DETACHD 0
5682 CHARLES CIR $549,000.00 $529,000.00 4 2.1 3052 DETACHD 119
5047 WOODCREST LN 7east $679,336.00 $698,690.00 4 3.1 3602 DETACHD 0
1655 EDGECLIFF TER $1,175,000.00 $1,125,000.00 4 3.1 3416 DETACHD 182
18402 OLD RIVER LNDG $1,695,000.00 $1,451,250.00 4 4.1 4547 DETACHD 504

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 ~ Jan 6, 2013

Enjoy these 10 Open Houses in Lake Oswego Sunday!

Address L/Price # Beds # Baths Total SF Time
16909 TRACY AVE $279,950 4 2 1499 12-3PM
4263 HARVEY WAY $349,000 3 2 1640 1-3PM
15655 FIELDSTONE DR $589,500 4 2.1 2750 1-3PM
5533 FIELDSTONE CT $599,500 4 2.1 3115 1-3PM
13282 BOONES FERRY LN $599,900 4 2.1 3267 1-3PM
18096 Pilkington RD $599,900 3 2.1 3182 1-3PM
1579 BAY VIEW LN $675,000 4 3 4665 1-3PM
329 10TH ST $949,980 4 2.1 3647 1-3PM
310 IRON MOUNTAIN BLVD $1,100,000 4 2.1 3503 1-3PM
1677 LESLIE LN $1,840,000 4 6.1 7534 1-3PM
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A New Year!

Oswego-LakeGreetings to all of our loyal and new Property Blotter readers!

As we enter our 5th year of publishing this insiders’ look at the Lake Oswego community and Real Estate scenes, we want to take a moment to thank you so much for your interest and patronage through the years! Dianne and I are as committed as ever to bringing you the micro-focused real estate information you count on, and also the perspective of Lake Oswego as part of the larger Portland Metro Area from time to time. Context is good… at least we think so : )

We both specialize in Lake Oswego property, considering the time we’ve spent living and working here, and we both also have been working all over the Greater Portland Area for many, many years, so please remember us if you know someone who needs a really experienced and reliable Realtor for any property “selling or buying adventure” in this larger geographic area!

Though our lives have changed through the years, the Property Blotter has remained constant, and we hope that you enjoy it as much as we do. Recently we have made one BIG change, and that is that we are now working with Oregon First Real Estate Company!  A change like this is the kind of thing that only occurs once in a very great while, and while we have been very pleased with our previous affiliation and will miss those with whom we’ve worked closely for some time, we are thrilled to be joining this vibrant, established local company with offices all over the Portland area and Vancouver!

Just for fun, I’ve pasted below our very first post from 2008, and after reading it, am feeling both nostalgic, and satisfied with the work we’ve committed ourselves to, and all we’ve accomplished with so many of you.

Happy New Year to each of you…. We toast YOU in 2013!

Welcome to the premier edition of the Property Blotter!

This blog is intended to be a fun and useful forum pertaining to real estate issues in the City of Lake Oswego. It will bring you information that directly reflects current market conditions.

It will also provide you with history of the area and insights into Lake Oswego’s vibrant community. You will find plenty of statistics and details about houses currently for sale and recently sold. You will also find neighborhood profiles and featured homes. And, yes, you’ll get commentary on local events and neighborhood happenings.

What you will not find is endless self-promotion and unneeded advertising. This is going to be a place to learn about Lake Oswego real estate and not a place that will waste your time. We don’t care for that sort of thing any more than you do.

And just who are we and why do we have any right to be doing this? We are Realtors who have each lived in Lake Oswego for some time and have been directly a part of this community. Between us we have 30 years of experience selling real estate in this fine community. Between us we have lived in Lake Oswego for 20 years. Our children have attended school here. We participated in sports here. We volunteered with local non-profits here. We know this town.

Lake Oswego is an amazing place to live. It is also seriously misunderstood. Yes, there are million-dollar homes in Lake Oswego. But more than money, Lake Oswego is a town that has people who care. It has always had great schools and so attracts families looking for excellent public schools. There are modest homes as well as lakeside estates.

If we are doing our job right, you’ll come away from this blog feeling like you know a bit more about what prices of homes are like, what is going on with local businesses, and what it is about LO that makes it a great place to live and to work. If you currently live here, you’ll know more about what your home may be worth. If you are thinking about moving here, you’ll know more about what to expect when you buy a home and what this community is like as a place to live.

So come along with us on this “blog-mobile”. It is going to be a great journey.

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Market Activity Dec 24-30, 2012

Market Activity for last week brought just 1 new listing, 3 pending sales, and 7 closed sales. Expect the real estate market to start picking up as we move into the New Year.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Dec 24-30, 2012)

Address Type Price BR Bths SF
115 Touchstone Ter Attached $355,000 3 3.5 2884

PENDING SALES (Dec 24-30,2012 2012)

Address Type Price BR Baths SF DOM
5059 Foothills Dr F Condo $165,000 2 2 997 31
44 Greenridge Ct Attached $199,900 3 2.5 1996 407
5880 Rockwood Ct Detached $275,000 3 2 1772 260

SOLD (Dec 24-30,2012)

Address Type List Price Closed Price Sq Ft CDOM
39 Crestfield Ct Condo $49,900 $52,000 689 119
668 McVey Ave #75 Condo $214,000 $135,000 626 402
4270 Oakridge Rd Detached $275,000 $267,500 978 143
232 6th St Detached $335,000 $335,000 1389 0
18238 Terry Ave Detached $359,000 $340,000 1570 43
14062 Goodall Rd Detached $1,499,000 $1,400,000 6,074 39
2700 Summit Dr Detached $1,800,000 $1,753,875 4472 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

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Open Houses for December 30, 2012

For the last Sunday of 2012, there are just 2 houses scheduled to be held open. Enjoy.

Address Type Price BR Baths Open
4231 Woodside Circle Attached $274,500 3 2-Jan 1 to 3
1659 Oak St Detached $379,500 3 2.5 1 to 3:30