- A comparison of Sept ’10 and the previous month in Portland Metro shows an increase in Closed Sales of 1.3%
- Average sales price in Portland Metro fell by 3.5% comparing Sept. 2009 with Sept 2010.
- Comparing the 3rd quarter of 2009 with 3rd quarter 2010, Closed Sales in Portland Metro dropped 24.7%
- Comparing the 3rd quarter of 2009 with 3rd quarter 2010, Metro Listings increased by 1.2%
- Average Metro Closed Price in Sept 2010 was $279,900
- Average Lake Oswego/West Linn Closed Price in Sept 2010 was $432,200
- Metro “Time on Market” for Sept 2010 was 131 days
- Lake Oswego/West Linn “Time on Market” for Sept 2010 was 186 days
- Metro Active Listings as of Sept 2010 was 14, 714
- Lake Oswego/West Linn Active Listings as of Sept 2010 were 1,025
- From Oct 1, ’09 to Sept 30 ’10, Lake Oswego/West Linn Average Sale Prices declined by 9.3%
- Portland Metro saw 1,399 Closed Sales in Sept. 2010
- Lake Oswego and West Linn saw 71 Closed Sales in Sept 2010
- All data derived from RMLS Market Action Report
Lake Oswego Market Activity ~ Oct 11-17, 2010
Pretty robust activity last week. Lake Oswego saw 17 New listings, 19 Pending sales, and 8 Closed sales according to RMLS.
See below for further details:
NEWLY LISTED (Oct 11-17, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type |
| 3433 MCNARY PKWY #204 | $107,500 | 2 | 2 | 1008 | CONDO |
| 73 GALEN ST #73 | $115,950 | 2 | 2 | 995 | CONDO |
| 4000 CARMAN DR #3 | $119,900 | 1 | 1 | 836 | CONDO |
| 221 CERVANTES | $144,000 | 2 | 1.1 | 1180 | CONDO |
| 6120 SHAKESPEARE ST | $185,000 | 3 | 1.1 | 999 | DETACHD |
| 12802 BOONES FERRY RD | $287,500 | 3 | 2.1 | 1548 | DETACHD |
| 7 BLOCH TER | $292,000 | 3 | 2.1 | 2062 | ATTACHD |
| 17350 KELOK RD | $379,000 | 3 | 1.2 | 1415 | DETACHD |
| 15824 BOONES WAY | $384,900 | 3 | 2 | 1895 | DETACHD |
| 5490 ROYAL OAKS DR | $425,000 | 3 | 2 | 1761 | DETACHD |
| 1094 ERICKSON ST | 424900 – 474876 | 4 | 3 | 2769 | DETACHD |
| 3210 FIR RIDGE RD | $499,000 | 4 | 3.2 | 2832 | DETACHD |
| 1132 TROON RD | $569,000 | 3 | 2.1 | 1585 | DETACHD |
| 13711 FIELDING RD | $719,000 | 3 | 4 | 4649 | DETACHD |
| 754 5TH ST | $775,000 | 3 | 2 | 2186 | DETACHD |
| 18260 RIVER EDGE CT | $835,000 | 3 | 3.1 | 4711 | DETACHD |
| 199 FURNACE ST (Upper) | $2,590,000 | 3 | 3.1 | 5772 | CONDO |
PENDING SALES (Oct 11-17, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 16250 PACIFIC HWY #77 | $139,000 | 2 | 2 | 1327 | CONDO | 1115 |
| 200 BURNHAM RD #204 | $149,000 | 2 | 2 | 1313 | CONDO | 890 |
| 85 OSWEGO SMT #85 | $159,000 | 2 | 2 | 1212 | CONDO | 290 |
| 212 RIDGEWAY RD | $169,900 | 1 | 1 | 778 | CONDO | 483 |
| 18462 DON LEE WAY | $179,900 | 4 | 2 | 1904 | DETACHD | 369 |
| 848 6th ST | $262,000 | 2 | 1 | 1648 | DETACHD | 413 |
| 5713 SW KENNY ST | $279,900 | 3 | 2 | 1384 | DETACHD | 42 |
| 427 9TH ST | $299,900 | 4 | 2 | 2130 | DETACHD | 30 |
| 1073 HALLINAN ST | $349,000 | 3 | 2.1 | 1828 | DETACHD | 124 |
| 2021 CEDAR CT | $350,000 | 4 | 3.1 | 4114 | DETACHD | 205 |
| 32 CHURCHILL DOWNS | $379,900 | 4 | 2.1 | 3016 | DETACHD | 247 |
| 3541 RED CEDAR WAY | $404,900 | 3 | 3 | 1963 | DETACHD | 14 |
| 5916 SUNBROOK DR | $459,900 | 3 | 2.1 | 2617 | DETACHD | 9 |
| 17930 MEADOWLARK LN | $539,900 | 4 | 4 | 3300 | DETACHD | 282 |
| 5188 MADRONA ST | $549,000 | 3 | 3 | 3183 | DETACHD | 36 |
| 17455 BLUE HERON RD | $575,000 | 3 | 2 | 2572 | DETACHD | 519 |
| 15915 WALUGA DR | $598,950 | 3 | 2.1 | 2939 | DETACHD | 261 |
| 444 6TH ST | $899,000 | 4 | 4.1 | 4541 | DETACHD | 314 |
| 15444 Boones WAY | $998,500 | 3 | 2.1 | 3364 | ATTACHD | 0 |
SOLD (Oct 11-17, 2010)
| Address | O/Price | Close Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 47 EAGLE CREST DR #59 | $105,000 | $76,500 | 3 | 1 | 1024 | CONDO | 203 |
| 200 BURNHAM RD #200 | $229,000 | $90,000 | 1 | 1 | 897 | CONDO | 1362 |
| 4000 CARMAN DR #A5 | $117,500 | $102,000 | 2 | 2 | 973 | CONDO | 202 |
| 2245 GLEN HAVEN RD | $328,500 | $270,000 | 3 | 1.1 | 1276 | DETACHD | 346 |
| 16149 PEARCY ST | $329,000 | $305,000 | 3 | 2 | 1250 | DETACHD | 35 |
| 13045 PRINCETON CT | $429,000 | $417,000 | 3 | 2.1 | 2900 | DETACHD | 5 |
| 3188 S GLENMORRIE DR | $519,750 | $495,000 | 3 | 3 | 3066 | DETACHD | 133 |
| 3114 DOUGLAS CIR | $1,350,000 | $1,145,000 | 4 | 4 | 5542 | DETACHD | 700 |
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
Open Houses Sunday, October 17th, 2010
There are 22 properties being held Open on Sunday. Looks like a great bunch.
Come say hello at my Open from 1:30 – 4PM at: 979 Devon Lane. (McVey/Larch/Oxford/Left on Devon Lane). Here’s the view of Mt Hood at which I’ll be gazing as I entertain visitors! (no… won’t be tap dancing…. sorry : )
Enjoy your Sunday! Here is what’s on tap:
| Address | L/Price | # Beds | # Baths | Total SF | Prop Type | Time |
| 1851 KILKENNY DR | $389,900 | 4 | 3 | 2716 | DETACHD | 12-4PM |
| 4908 MULHOLLAND DR | $425,000 | 3 | 2.1 | 2498 | TWNHSE | 1-3PM |
| 2697 LOOKOUT CT | $429,000 | 3 | 2 | 2219 | DETACHD | 2-4PM |
| 979 DEVON LN | $457,000 | 4 | 3.1 | 2162 | DETACHD | 1:30-4PM |
| 326 LAKE BAY CT | $474,900 | 3 | 2 | 1400 | DETACHD | 2-4PM |
| 12 SCARBOROUGH DR | $479,900 | 4 | 2.1 | 2892 | DETACHD | 1-4PM |
| 19319 SW DOGWOOD CT | $499,900 | 4 | 2.1 | 3105 | DETACHD | 1-5PM |
| 19415 SW DOGWOOD CT | $514,900 | 5 | 3 | 3517 | DETACHD | 1-5PM |
| 4398 GLACIER LILY ST | $535,000 | 4 | 2.1 | 2936 | DETACHD | 12-2PM |
| 19263 MEGLY CT | $559,900 | 5 | 3 | 3213 | DETACHD | 1-5PM |
| 19245 SW MEGLY CT | $569,900 | 5 | 3 | 3490 | DETACHD | 1-5PM |
| 17981 MEADOWLARK LN | $584,900 | 3 | 2.1 | 3250 | DETACHD | 12-3PM |
| 5511 FIELDSTONE CT | $685,000 | 4 | 2.1 | 3037 | DETACHD | 1-3PM |
| 5371 LANGFORD LN | $694,950 | 4 | 2.1 | 2950 | DETACHD | 1-3PM |
| 5533 FIELDSTONE CT | $695,000 | 4 | 2.1 | 3115 | DETACHD | 1-3PM |
| 15566 VILLAGE PARK CT | $709,900 | 5 | 3.1 | 4692 | DETACHD | 12-3PM |
| 4158 CASEY CT | $799,000 | 4 | 2.1 | 3385 | DETACHD | 2:30-4:30PM |
| 16686 MAPLE CIR | $895,000 | 4 | 3.2 | 3311 | DETACHD | 2-4PM |
| 4018 COHO LN | $1,045,500 | 4 | 4.1 | 4777 | DETACHD | 1-4PM |
| 18209 SIENA DR | $1,097,000 | 5 | 3.1 | 3839 | DETACHD | 2:30-4:30PM |
| 1808 RIDGE POINTE DR | $1,269,000 | 5 | 4.1 | 4155 | DETACHD | 2:30-4:30PM |
| 3118 DOUGLAS CIR | $1,275,000 | 3 | 2.1 | 3562 | DETACHD | 12:30-3PM |
News & Notes
- Mortgage Rates: One thing to remember about what you hear on the news is that good news for the economy in general means rates are going to rise for buying a house. Bad news for the economy means rates stay where they are if they are low or get lower. Here’s what MBS Quoteline is saying: ” The Fed’s recent announcement that it may purchase additional Treasury securities (quantitative easing) to stimulate the economy has magnified the importance of economic news and increased daily volatility. Investors now evaluate each fresh piece of data in terms of its expected impact on Fed policy, and mortgage rates receive an extra benefit from weaker than expected data. In general, weaker economic growth leads to lower future inflation, which is favorable for mortgage rates. In addition, investors now expect higher levels of bond purchases by the Fed after weak data, and the increased demand also would be positive for mortgage rates. Of course, stronger than expected economic news will have the opposite effect and will push rates higher more quickly than usual.”
- Selling Tip Of The Week: Color is important when selling your home. I’m sure you’ve heard that it is good to use neutral tones on the walls, and your Realtor can advise you on the latest/most popular shades, but I’ve noticed that some people misinterpret “neutral”. Neutral does not mean white. I know that white is fun to play with tone on tone, but if you do too much white, it will make your home feel “cold” and people will have a difficult time “feeling the love” : ) So, if you’ve got white walls that you think look realy clean and make your rooms look bigger, and off white or white carpet throughout… you need to talk w/your Realtor about some light taupes or other schemes to bring some warmth into those rooms.
- Buying Tip Of the Week: Pay attention to the garage in your new home. What are you going to use it for? I say there are two kinds of people… those who park in their garage and those who store “stuff” in it. Does the garage in the home you’re contemplating meet your needs? I recently had a Buyer about ready to write an offer when they realized that her beloved long-ish minivan would not fit in the garage. Now she had a choice to make… the home that fit the rest of the family’s needs… or the car? In many older homes, garages were not made to fit the longer/larger vehicles of today. So… try your car out in the garage if you have any questions about it. And if you have trouble squeezing it in, you might consider “carriage doors” that open out, as they are mounted on the outer side of the frame as opposed to the inner side which is where up & down sliding doors are mounted, thereby reducing your space.
- “Should-I-Buy-Now-Or-Wait?-Calculator” – Here is a nifty tool from First American Title Company (came to me courtesy of Pam Edwards in the Clackamas Office… Thanks, Pam!). It allows you to calculate the difference between buying now & waiting… So, let’s say you found a home that is priced at $500,000. You know rates are good now and are expected to rise, and/but you are thinking that maybe the house will come down in price (let’s say you think it may eventually come down to $450,000.) and so you are considering holding off on your offer. This tool will allow you to punch in parameters and see just how much the picture would change if interest rates go up and your home lowers in value. Pretty cool! Here’s the link: “Should-I-Buy-Now-Or-Wait?-Calculator” There are some additional tools there as well: Buy or Rent, for instance.
Very Best,
Linda
Market Activity ~ Sept 27-Oct 3, 2010
Market activity last week brought Lake Oswego 10 new listings, 9 pending sales, and 12 closed sales according to RMLS.
See below for further details:
NEWLY LISTED (Sept 27-Oct 3, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type |
| 44 CRESTFIELD CT | $75,000 | 2 | 1 | 923 | CONDO |
| 572 S STATE ST #8C | $180,000 | 2 | 1 | 914 | CONDO |
| 5054 FOOTHILLS DR #69E | $215,000 | 3 | 2 | 1252 | CONDO |
| 44 ORIOLE LN | $270,000 | 4 | 2.1 | 2224 | DETACHD |
| 3541 RED CEDAR WAY | $404,900 | 3 | 3 | 1963 | DETACHD |
| 17890 KELOK RD | $417,900 | 4 | 2.1 | 3095 | DETACHD |
| 4978 MULHOLLAND DR | $419,000 | 3 | 2.1 | 2498 | ATTACHD |
| 135 5th ST | $539,900 | 4 | 1 | 2200 | DETACHD |
| 17606 WOODHURST PL | $598,000 | 5 | 3.1 | 4488 | DETACHD |
| 15578 VILLAGE DR | $799,000 | 3 | 2.1 | 3630 | DETACHD |
PENDING SALES (Sept 27-Oct 3, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 79 GALEN ST | $69,900 | 2 | 2 | 995 | CONDO | 35 |
| 668 MCVEY AVE #54 | $140,000 | 3 | 1.1 | 992 | CONDO | 5 |
| 2 MOUNTAIN CIR | $160,000 | 2 | 1.1 | 1504 | ATTACHD | 21 |
| 6447 MCEWAN RD | $169,900 | 2 | 1 | 912 | DETACHD | 115 |
| 6173 WASHINGTON CT | $314,000 | 3 | 2 | 1440 | DETACHD | 10 |
| 1462 GREENTREE CIR | $389,900 | 4 | 2.1 | 2507 | DETACHD | 138 |
| 571 2ND ST #307 | $631,000 | 2 | 2 | 1561 | CONDO | |
| 16461 CHAPIN WAY | $749,900 | 4 | 2.1 | 4271 | DETACHD | 488 |
| 3151 DOUGLAS CIR | $1,185,000 | 5 | 4.2 | 4400 | DETACHD | 125 |
SOLD (Sept 27-Oct 3, 2010)
| Address | O/Price | Close Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 512 S STATE ST | $129,900 | $90,000 | 1 | 1 | 829 | CONDO | 106 |
| 510 S STATE ST | $117,500 | $95,100 | 1 | 1 | 829 | CONDO | 58 |
| 16790 LAKE FOREST BLVD | $155,000 | $120,000 | 2 | 1 | 780 | DETACHD | 32 |
| 4201 COLLINS WAY | $279,000 | $278,000 | 3 | 2 | 1230 | DETACHD | 53 |
| 15265 BOONES WAY | $324,500 | $300,000 | 2 | 2.1 | 1560 | ATTACHD | 21 |
| 4664 FIRWOOD RD | $379,900 | $347,900 | 3 | 2 | 1640 | DETACHD | 53 |
| 231 LAUREL ST | $425,000 | $388,000 | 3 | 3 | 2244 | DETACHD | 119 |
| 17778 MARYLCREEK DR | $459,900 | $400,000 | 3 | 2.1 | 2741 | DETACHD | 49 |
| 325 3RD ST | $499,900 | $441,500 | 2 | 2.1 | 1937 | ATTACHD | 189 |
| 15 SCARBOROUGH DR | $549,000 | $494,000 | 5 | 3.1 | 3310 | DETACHD | 58 |
| 1050 Schukart LN | $599,000 | $561,015 | 3 | 3.1 | 5847 | DETACHD | 207 |
| 17281 KELOK RD | $1,195,000 | $845,000 | 3 | 3 | 2682 | DETACHD | 370 |
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
Open Houses ~ Oct. 3, 2010
There are 31 properties to be held Open Sunday in Lake Oswego according to RMLS (detail below).
I’ll be holding two of my listings Open in one day… so you’ll see me running around town with my flashers on picking up and placing signs 
from the trunk of my car trying to bi-locate : ) Dianne and I LOVE to meet our Property Blotter readers, so please stop by and say “Hello” !
I’ll be at 4840 Lamont Way (By Lakeview & Bryant) from 11AM till 1:30PM.
This is a really cute Remodeled Cottage on a very Large & Private .23 acre lot in an Awesome Location very near the Lake, Waluga and Bryant Elem. 3 Bd, 2 Full Baths 1793 SF… much larger than it looks from outside… Generous Bedrooms and a detached Studio? Shop? Office? that is not included in the square footage. Metal Roof, All New Carpet, Hardwoods in Fam Rm, Additions with Rejuvenation touches to match era, Remodeled Kitchen too + Sunroom Dining $335,000.
I’ll be at 979 Devon Lane (McVey to Cornell, up hill, Left at Larch, Right at Oxford, Left at Devon Lane) from 2 till 4:30 PM.
What a gorgeous hilltop home! Brand new listing. Near Hallinan Elem and LakeRidge HS. Talk about views… this one has Sweeping Panoramic Views including Mt Hood from a wall of windows. Hardwoods, Granite, SubZero, Vaulted Ceilings, Decks including Private Master Deck w/Hot Tub, New Ht Pump, New Gutter Filter System, & on & on. Even has an Apartment with separate entrance! & Basement with insulation & sliders that is not included in square footage but could be a shop, studio, family room (add a deck outside sliders?) or 
storage… tons of potential. 4 Bedrooms including the Apartment, and 3 1/2 Baths. $457,000. (!!!) Check comparable values. If you’re interested you’d better take a look now : )
There is a lot to see in Lake Oswego, and it should be a great day for touring. Hope to see you! Here you go:
| Address | L/Price | # Beds | # Baths | Total SF | Style | Time |
| 4000 CARMAN DR #85 | $124,900 | 2 | 2 | 834 | CONDO | 1-4PM |
| 4081 JEFFERSON PKWY | $205,000 | 2 | 2.1 | 1618 | TOWNHSE | 12-3PM |
| 18430 PILKINGTON RD | $239,900 | 3 | 1.1 | 1029 | DETACHD | 2:30-4:30PM |
| 6062 BURMA RD | $269,987 | 4 | 2 | 1875 | DETACHD | 1-4PM |
| 5713 SW KENNY ST | $279,900 | 3 | 2 | 1384 | DETACHD | 2-4PM |
| 4840 LAMONT WAY | $335,000 | 3 | 2 | 1793 | DETACHD | 11-1:30PM |
| 662 CLARA CT | $399,900 | 3 | 3 | 2740 | DETACHD | 12-3PM |
| 2602 ORCHARD HILL PL | $409,900 | 3 | 2.1 | 2568 | DETACHD | 1-3PM |
| 979 DEVON LN | $457,000 | 4 | 3.1 | 2162 | DETACHD | 2-4:30PM |
| 326 LAKE BAY CT | $474,900 | 3 | 2 | 1400 | DETACHD | 1-3pM |
| 12 SCARBOROUGH DR | $499,900 | 4 | 2.1 | 2892 | DETACHD | 1-4PM |
| 19319 SW DOGWOOD CT | $499,900 | 4 | 2.1 | 3105 | DETACHD | 1-5PM |
| 19415 SW DOGWOOD CT | $519,900 | 5 | 3 | 3517 | DETACHD | 1-5PM |
| 4398 GLACIER LILY ST | $535,000 | 4 | 2.1 | 2936 | DETACHD | 3-5PM |
| 19263 MEGLY CT | $559,900 | 5 | 3 | 3213 | DETACHD | 1-5PM |
| 19245 SW MEGLY CT | $569,900 | 5 | 3 | 3490 | DETACHD | 1-5PM |
| 5705 SOUTHWOOD DR | $575,000 | 4 | 2.1 | 3360 | DETACHD | 1-3PM |
| 13596 STREAMSIDE DR | $579,900 | 4 | 2.1 | 3430 | DETACHD | 1-4PM |
| 17981 MEADOWLARK LN | $584,900 | 3 | 2.1 | 3250 | DETACHD | 12-3PM |
| 15915 WALUGA DR | $598,950 | 3 | 2.1 | 2939 | DETACHD | 1:30-3:30PM |
| 5 CELLINI CT | $697,000 | 5 | 3.1 | 4895 | DETACHD | 1-3PM |
| 5321 AMBERWOOD CT | $709,000 | 4 | 3 | 3315 | DETACHD | 2-4PM |
| 1015 SOUTHSHORE BLVD | $717,000 | 4 | 3 | 3542 | DETACHD | 12-1:45PM |
| 649 9TH ST | $767,500 | 3 | 2.1 | 2812 | DETACHD | 1-3PM |
| 5320 SOUTHWOOD DR | $779,000 | 4 | 3 | 3646 | DETACHD | 3-5PM |
| 17301 CANAL CIR | $799,000 | 3 | 2.1 | 1812 | DETACHD | 12:30-2:30PM |
| 17896 KELOK RD | $799,000 | 5 | 5 | 4323 | DETACHD | 2:30-4PM |
| 17884 KELOK RD | $799,000 | 5 | 3.1 | 4124 | DETACHD | 2:30-4PM |
| 4018 COHO LN | $1,045,500 | 4 | 4.1 | 4777 | DETACHD | 1-4PM |
| 18209 SIENA DR | $1,097,000 | 5 | 3.1 | 3839 | DETACHD | 1-4PM |
| 1808 RIDGE POINTE DR | $1,269,000 | 5 | 4.1 | 4155 | DETACHD | 1-4PM |
News & Notes
About Town:
- What would YOU lock in the vault? That is what the city of Lake Oswego is asking residents. On 10/10/10 the city will culminate the celebration of its Centennial with the burial of a time capsule. Submission of ideas are due by 9/30 HERE.
- The Foothills Dock is now open! Ribbon cutting is set for… tonight! 9/30 at 5:30PM.
- Dianne has given you a heads-up regarding the Lake Draw-Down. The draw-down will be 22 feet according to the city’s site. We’re warned of increased truck traffic during this time. Refill will begin in January, 2011 and continue until May. Here is a link which includes videos & information on what the lake will look like during the draw-down.
- October 16 marks this year’s “Neighbors Helping Neighbors” event. If you would like to contribute your time to helping with yard work, tree & shrub removal, trimming and more… or if you need help yourself, please call: 503 635 0257, or visit the site HERE.
Mortgage Updates from Pat Goodell of Academy Mortgage:
- Fannie, Freddie and FHA have come out with new condo guidelines that are meant to make it easier for condos to be approved, and for buyers to be able to purchase a condo.
- FHA will be changing the allowable amount sellers can pay for closing costs/pre-paids. Currently at 6% and will go to 3% — no date set but expected by the first of the year.
Enjoy that summertime weather for the next few days! It should be great for touring homes on Sunday. I’ll be holding two of my listings Open in Lake Oswego on Sunday…. come & say hi! More on that & the rest of the Open Houses for you on Saturday.
Market Activity ~ Sept 13-19, 2010
Market activity last week brought us 16 new listings, 2 pending sales, and 14 closed sales.
Two of the New Listings, Eagle Crest & Southwood, had been off the market for just a little less than 30 days & took a $30,000 price drop & approx $10,000 respectively. Cameo was only off the market for a few days, but took a $250,000 price drop. All show as New Listings with new Realtors as well.
See below for further details.
NEWLY LISTED (Sept 13-19, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type |
| 44 EAGLE CREST DR #1 | $110,000 | 2 | 1 | 908 | CONDO |
| 3433 McNary PKWY #504 | $189,900 | 2 | 2.1 | 1136 | CONDO |
| 37 ORIOLE LN | $274,900 | 2 | 2 | 1520 | DETACHD |
| 1095 CORNELL ST | $299,500 | 2 | 1 | 1416 | DETACHD |
| 427 9TH ST | $299,900 | 4 | 2 | 2130 | DETACHD |
| 4760 LOWER DR | $345,000 | 4 | 3 | 2500 | DETACHD |
| 13901 SUNDELEAF DR | $350,000 | 4 | 0.3 | 1877 | DETACHD |
| 151 DEL PRADO ST | $439,000 | 4 | 2.1 | 2447 | DETACHD |
| 326 LAKE BAY CT | $474,900 | 3 | 2 | 1410 | DETACHD |
| 777 BERWICK CT | $475,000 | 3 | 2 | 2324 | DETACHD |
| 14361 SHERBROOK PL | $569,000 | 3 | 2.1 | 2100 | DETACHD |
| 5705 SOUTHWOOD DR | $598,000 | 4 | 2.1 | 3360 | DETACHD |
| 15566 VILLAGE PARK CT | $709,900 | 5 | 3.1 | 4692 | DETACHD |
| 193 FURNACE ST | $769,950 | 2 | 2.1 | 2215 | CONDO |
| 13795 CAMEO CT | $1,400,000 | 4 | 5.2 | 7190 | DETACHD |
| 1677 LESLIE LN | $2,599,000 | 5 | 5.1 | 7534 | DETACHD |
PENDING SALES (Sept 13-19, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 4664 FIRWOOD RD | $349,900 | 3 | 2 | 1640 | DETACHD | 53 |
| 17670 MARYLBROOK DR | $499,000 | 4 | 3 | 3067 | DETACHD | 261 |
SOLD (Sept 13-19, 2010)
| Address | O/Price | Close Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 47 EAGLE CREST DR #31 | $84,950 | $71,000 | 2 | 1 | 1009 | CONDO | 104 |
| 205 CERVANTES | $164,900 | $120,000 | 2 | 1.1 | 1216 | CONDO | 145 |
| 16200 PACIFIC HWY #8 | $279,900 | $221,500 | 2 | 2 | 1208 | CONDO | 120 |
| 3388 EDGEMONT RD | $359,900 | $250,000 | 3 | 2.1 | 1968 | DETACHD | 283 |
| 4236 HARVEY WAY | $399,500 | $348,000 | 3 | 2.1 | 1870 | DETACHD | 110 |
| 15580 PARTRIDGE DR | $378,000 | $350,000 | 3 | 2.1 | 2245 | DETACHD | 267 |
| 17518 REDFERN AVE | $409,000 | $365,000 | 3 | 2 | 1831 | DETACHD | 715 |
| 24 PARTRIDGE LN | $449,000 | $450,000 | 4 | 2.1 | 3224 | DETACHD | 40 |
| 5678 CHARLES CIR | $580,000 | $520,000 | 3 | 4 | 3455 | DETACHD | 495 |
| 14158 KIMBERLY CIR | $530,000 | $530,800 | 5 | 3 | 3648 | DETACHD | 40 |
| 19288 SW Megly CT | $579,900 | $562,400 | 5 | 3 | 3594 | DETACHD | 149 |
| 1425 CHANDLER RD | $978,000 | $750,000 | 4 | 3 | 3384 | DETACHD | 43 |
| 4912 FIRWOOD RD | $999,900 | $950,000 | 4 | 4 | 5640 | DETACHD | 21 |
| 19000 BRYANT RD | $965,000 | $965,000 | 5 | 3.1 | 5874 | DETACHD | 3 |
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
Lake Oswego Open Houses ~ Sept. 19, 2010
There are 34 properties to be held Open Sunday in Lake Oswego according to RMLS:
| Address | L/Price | # Beds | # Baths | Total SF | Prop Type | Open | ||
| 86 KINGSGATE RD F 103 | $130,000 | 2 | 2 | 849 | CONDO | 12-2pm | ||
| 4057 JEFFERSON PKWY | $199,000 | 3 | 2.1 | 1460 | TOWNHSE | 1-3pm | ||
| 605 Ash ST | $235,000 | 3 | 2 | 1528 | DETACHD | 1-3pm | ||
| 5713 SW KENNY ST | $284,900 | 3 | 2 | 1384 | DETACHD | 1-3pm | ||
| 65 GREENRIDGE CT | $300,000 | 2 | 2 | 1314 | TOWNHSE | 1-3pm | ||
| 15245 BOONES WAY | $315,000 | 3 | 2.1 | 1600 | TOWNHSE | 1-3:30pm | ||
| 14081 GOODALL RD | $364,900 | 4 | 2 | 2250 | DETACHD | 1-3pm | ||
| 138 KINGSGATE RD | $379,900 | 3 | 2.1 | 1600 | DETACHD | 1-3pm | ||
| 2634 ORCHARD HILL PL | $449,500 | 3 | 2.1 | 2573 | DETACHD | 1-3pm | ||
| 607 Ash ST | $450,000 | 3 | 2.1 | 2200 | DETACHD | 1-3pm | ||
| 326 LAKE BAY CT | $474,900 | 3 | 2 | 1410 | DETACHD | 1-4pm | ||
| 1551 WOODLAND TER | $499,000 | 4 | 2 | 2712 | DETACHD | 1-4pm | ||
| 12 SCARBOROUGH DR | $499,900 | 4 | 2.1 | 2892 | DETACHD | 1-4pm | ||
| 19319 SW DOGWOOD CT | $499,900 | 4 | 2.1 | 3105 | DETACHD | 1-5pm | ||
| 4 INDEPENDENCE AVE | $519,000 | 4 | 3.1 | 3482 | DETACHD | 2-4pm | ||
| 19415 SW DOGWOOD CT | $519,900 | 5 | 3 | 3517 | DETACHD | 1-5pm | ||
| 1060 UPPER DEVON LN | $524,000 | 3 | 2.1 | 2400 | DETACHD | 12-2pm | ||
| 17930 MEADOWLARK LN | $549,900 | 4 | 4 | 3300 | DETACHD | 3-5pm | ||
| 5705 SOUTHWOOD DR | $598,000 | 4 | 2.1 | 3360 | DETACHD | 1-3pm | ||
| 18212 WESTVIEW DR | $598,900 | 4 | 2.1 | 3464 | DETACHD | 2-4pm | ||
| 2044 RIDGEWOOD RD | $658,900 | 4 | 2 | 2519 | DETACHD | 2:30-4pm | ||
| 1483 WOODLAND TER | $699,000 | 4 | 2.1 | 2794 | DETACHD | 10am-4pm | ||
| 5321 AMBERWOOD CT | $709,000 | 4 | 3 | 3315 | DETACHD | 1-3pm | ||
| 1015 SOUTHSHORE BLVD | $717,000 | 4 | 3 | 3542 | DETACHD | 1-2:45pm | ||
| 5320 SOUTHWOOD DR | $779,000 | 4 | 3 | 3646 | DETACHD | 1-3pm | ||
| 17896 KELOK RD | $799,000 | 5 | 5 | 4323 | DETACHD | 2:30-4pm | ||
| 17884 KELOK RD | $799,000 | 5 | 3.1 | 4124 | DETACHD | 2:30-4pm | ||
| 16686 MAPLE CIR | $999,000 | 4 | 3.2 | 3311 | DETACHD | 2-4pm | ||
| 4018 COHO LN | $1,076,250 | 4 | 4.1 | 4777 | DETACHD | 1-3pm | ||
| 17281 KELOK RD | $1,095,000 | 3 | 3 | 2682 | DETACHD | 1-3pm | ||
| 18209 SIENA DR | $1,097,000 | 5 | 3.1 | 3839 | DETACHD | 1-3pm | ||
| 18246 BELLA TERRA DR | $1,194,000 | 4 | 3.1 | 4196 | DETACHD | 1-3pm | ||
| 14242 BRIDGE CT | $1,999,950 | 5 | 4.2 | 6139 | DETACHD | 2-4pm | ||
| 2572 GLEN EAGLES PL | $2,050,000 | 5 | 4.2 | 6490 | DETACHD | 1-3pm |
“How Are Things In The Market Right Now?”
“How Are Things In The Market Right Now?” Hmmm… I guess I’m writing more of a philosophical or “opinion piece” today. This is such an interesting question… I hear it every day in one form or another. Often it is accompanied by “Things are pretty bad, aren’t they? I hear they’re getting worse.” or “I’m ready to buy but think maybe I should wait till prices drop more.” or “I read that….” All of these are motivated by a combination of media influence, a desire to make good decisions, and some good ‘ole car-wreck-neck-jerking thrown in. We are all in the same boat, and Realtors have some inside knowledge that folks would like to have. The truth is, aside from offering some statistics (local, please), and some of what I’ve heard experts predicting, I always say the same thing… “I don’t really believe in statistics… in my own life anyway.” Real Estate is like that as a profession. You need a combination of faith, perseverance, and real skill to offer clients in order to achieve successful outcomes. I usually say ( in addition to the numbers or current trends I’m aware of), “Things are pretty good here in my world”. What you really need to assess is: How are things in your world?.
You’ll notice that there are fewer Realtors around than there used to be. One thing you can be sure of; The Realtors who are in business right now are in business for a reason… namely the three I outlined above. Talk to your Realtor, and begin to assess your own situation.
Is the market in the right shape for your purpose right now? I don’t know- Ask yourself:
- Are you needing a bigger home/Is your family growing etc?
- Is there a change in your living- or relationship-status that necessitates some movement?
- Are you being transferred in your job?
- Would you really like to (or do you need to) downsize?
- Is a change of schools for your kids in order?
- Have you been wanting a real estate investment opportunity?
- Do your friends all live on the other side of town?
These are just a few of the reasons you might want to take advantage of the current really low prices, and really low interest rates. So… for those three variations on questions I get about the market:
- Assess your own local market data, and talk to a mortgage broker about your own unique set of facts pertinent to your choice to act or not. Then make the Right Decision for you based on more than rumors or innuendo.
- As far as prices go… no one really knows for sure, but one thing is true: According to the experts, interest rates are not going lower…. So even if you wait for home prices to lower a little more (assuming they do… locally in the metro area , according to RMLS, sold prices increased from July2010 to August 2010 by 0.8%… & 1% from August ’09) you will have negated any benefit by most likely settling for higher interest rates.
- When reading or listening to news reports about real estate- “Consider the source”… and the subject matter. Very often folks are hearing national information on the national news, and while that can be interesting in gauging where markets might be headed based on experiences in the past (what states declined first… what states followed in both negative and positive trends, and in what order…) the only really relevant information to your particular situation is local. The adjunct to that of course is how that information intersects with your personal goals.
Read our Market Activity Report every Monday. Talk to your Realtor. Talk to a Mortgage Broker. Get the facts and then decide for yourself. Life is happening everywhere… all at the same time! : ) Don’t let fear and natural but morbid fascination with negative news stories run your life. (That’s MY two cents! : ) Very Best, Linda