The pace is picking up a bit. According to RMLS, there are 17 truly NEW properties in Lake Oswego this last week, 9 that went to PENDING status, and 8 that SOLD. Interesting to note that of the 17 NEW properties on the market, there are no shortsales in the bunch according to RMLS, and of the 9 PENDING sales, there were 2 short-sales, with another 2 short-sales out of the 8 SOLDS’s. There are a lot of good deals out there that do not fall into the short-sale or bank-owned categories, and Buyers seem to be looking for that “right” house instead of lasering in on short-sales in general. That said, it is hard to tell how many of the “NEW” properties could be teetering that direction. There is a whole different closing timeline to be considered if you get into that situation, so just be aware and consult with your Realtor.
One thing to be aware of is that we are not able to tell in an RMLS listing exactly how far above the “short-sale line” a property’s asking price may be. There is always the possibility that a property could turn into a short-sale if the negotiated price with the Seller ends up lower than what they owe. Just sayin’. Talk with your Realtor about what that could mean for you if you think you may be offering an amount that could bring up this possibility in your transaction.
Anyway, here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (Jan. 4—Jan. 10, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | List Date |
| 47 EAGLE CREST DR | $99,500 | 1 | 1 | 666 | CONDO | 1/4/2010 |
| 668 MCVEY AVE | $164,900 | 2 | 1 | 852 | CONDO | 1/4/2010 |
| 18025 TUALATA AVE | $349,000 | 3 | 2 | 1,970 | DETACHD | 1/6/2010 |
| 2705 ORCHARD HILL PL | $374,900 | 3 | 2.1 | 2,250 | DETACHD | 1/8/2010 |
| 2530 PALISADES CREST DR | $376,200 | 4 | 2.1 | 2,774 | DETACHD | 1/7/2010 |
| 13213 SW 63 PL | $399,900 | 4 | 3 | 2,604 | DETACHD | 1/6/2010 |
| 4651 HASTINGS PL | $454,900 | 4 | 2.1 | 2,215 | DETACHD | 1/7/2010 |
| 1641 ASH ST | $475,000 | 4 | 3 | 2,825 | DETACHD | 1/4/2010 |
| 16909 CRESTVIEW DR | $524,900 | 4 | 3 | 2,553 | DETACHD | 1/7/2010 |
| 17930 MEADOWLARK LN | $599,900 | 4 | 4 | 3,300 | DETACHD | 1/8/2010 |
| 72 CONDOLEA WAY | $629,000 | 2 | 2.1 | 3,088 | CONDO | 1/7/2010 |
| 51 HILLSHIRE DR | $679,000 | 4 | 2.2 | 4,306 | DETACHD | 1/5/2010 |
| 5234 WESTFIELD CT | $724,900 | 4 | 3 | 3,252 | DETACHD | 1/4/2010 |
| 14435 UPLANDS DR | $799,995 | 4 | 3.1 | 4,822 | DETACHD | 1/6/2010 |
| 17884 SW KELOK RD | $949,000 | 4 | 3.1 | 4,124 | DETACHD | 1/4/2010 |
| 15444 BOONES WAY | $998,500 | 3 | 2.1 | 3,364 | ATTACHD | 1/4/2010 |
| 5665 BONITA RD | $1,279,900 | 2 | 1 | 1,500 | DETACHD | 1/9/2010 |
PENDING SALES (Jan. 4 – Jan. 10, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 668 MCVEY AVE | $136,400.00 | 3 | 1.1 | 992 | CONDO | 95 |
| 4447 GOLDEN LN | $229,000.00 | 2 | 2.1 | 1,980 | ATTACHD | 521 |
| 16546 BONAIRE AVE | $239,900.00 | 3 | 1 | 1,064 | DETACHD | 82 |
| 2062 CEDAR CT | $299,000.00 | 4 | 2 | 1,800 | DETACHD | 237 |
| 909 CUMBERLAND PL | 299000 – 349000 | 4 | 3 | 2,716 | DETACHD | 43 |
| 3634 TEMPEST DR | $424,900.00 | 4 | 3 | 2,931 | DETACHD | 3 |
| 4040 VIRGINIA WAY | $524,900.00 | 3 | 2.1 | 2,623 | DETACHD | 243 |
| 5310 WASHINGTON CT | $624,900.00 | 4 | 3.1 | 3,328 | DETACHD | 865 |
| 1839 PALISADES LAKE CT | $899,900.00 | 4 | 3.1 | 4,570 | DETACHD | 166 |
SOLD (Jan. 4 – Jan. 10, 2010)
| Address | O/Price | Sold Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 26 WHEATHERSTONE | $265,000 | $210,000 | 3 | 2.1 | 1,692 | CONDO | 135 |
| 5686 WASHINGTON CT | $275,000 | $259,800 | 2 | 2 | 1,342 | DETACHD | 25 |
| 5956 FERNBROOK CIR | $299,999 | $295,000 | 4 | 2 | 1,376 | DETACHD | 370 |
| 4191 CHAPMAN WAY | $409,000 | $360,000 | 4 | 2.1 | 2,610 | DETACHD | 194 |
| 4 ICARUS LOOP | $449,000 | $445,000 | 4 | 2.1 | 2,743 | DETACHD | 57 |
| 17675 CARDINAL DR | $599,000 | $500,000 | 3 | 3 | 3,458 | DETACHD | 294 |
| 2200 PRESTWICK RD | $1,095,000 | $825,000 | 4 | 2.1 | 3,356 | DETACHD | 539 |
| 17345 BERGIS FARM DR | $1,249,900 | $1,062,500 | 4 | 3.2 | 5,199 | DETACHD | 665 |
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.
Happy 2010 to each of you! I don’t know about you, but I can feel the excitement (and dare I say relief) in the air. It’s a new year, and things are looking good. Lake Oswego is already celebrating its Centennial, employment figures are up, real estate tax incentives are in full force (for a few months anyway), stocks started the year with a rally, and “the trend is still up” according to Rob Lutts, chief investment officer at Cabot Money Management.
The beginning of the year also always brings some legislative changes, like needing a hands-free device to talk on your cellphone in the car. The new law does, however “…exempt motorists who are on their hand-held cell phones ‘in the scope of the person’s employment if operation of the motor vehicle is necessary for the person’s job’.” Hmmmm, I wonder if that includes Realtors? Well, I think I’ll opt for safety anyway, but I can smell some friction (is that burning rubber?) ahead in the way of challenges to these minimum $142. tickets.
Realtor (or Dianne and I if you are without a Realtor) if you have any questions. Some of the changes could affect the timeline of your transaction if you are not aware of them. For instance, if a transaction includes any seller-carried financing, and the document is prepared by escrow, there is a 3-day mandatory review period… so if the Buyer is just seeing the document for the first time at signing, there will be a 3-day delay in closing. Also, you will notice that our ML#’s have gotten a bit longer. As we are starting a new decade, the ML#’s now start with “10”… so they’ll be longer numbers & have lots of zero’s for awhile : ) As an aside, the count on these, and therefore the number of new January listings as of today in Lake Oswego number 24, and range in price from $90,000 to $998,500.
Last, but definitely not least, I want to address the excitement of the ongoing Centennial Celebration in Lake Oswego. I’m including a 
yesterday with family and friends : ) For ALL of you, we wish you a memorable and satisfying holiday season.
A very merry Christmas and holiday season to each of you from Dianne and me!
Adult Community Center New Year’s Luncheon ~ Doors open on Wednesday, December 30th at 11:30 for this fabulous feast & opportunity to celebrate with your neighbors. Suggested donation is $4.00 for those 60 & older, and $5.00 for all other attendees. The Community Center is located at the intersection of 5th & G Avenues.
Ok, so, it’s the holidays, and the Realtors are all running around serving their clients with Christmas trees on their car roofs… well, at least I am! Or was, earlier today. I visited another real estate office and noticed that I’m not the only one juggling real estate business and “extra” holiday activities and errands… and frankly we all are right now. So, I was thinking- What am I going to write about in the Property Blotter this time? I’ve got to take care of my clients and go shopping for Manicotti ingredients, champagne, Martinelli’s and all manner of other Christmas Party necessities. What will I write about? Food comes to mind of course.