We’re seeing activity at all phases and in all price ranges. Take a look at the spread- New listings, Pending sales, and Sold properties are coming in well represented from the lower to the higher ends of the price spectrum, and more higher-end homes are coming on the market. What we want to see is that “Sold” number start to climb, and this week we are at 8 of them, with 15 in Pending status, and 17 New properties coming on the market.
We’re also seeing that same trend continuing of properties achieving Pending status after only a week to 2 months, while the remainder of them are properties that have been on the market for 200 & 300+ days. Dianne and I both believe this is a “priced-right” signal, in that newer listings are priced to market demand, and more seasoned listings are finally at prices that meet the buyer where the buyer is comfortable.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (April 27—May 3, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
LIST DATE
|
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | List Date |
| 4000 CARMAN DR | $149,500 | 2 | 2 | 935 | CONDO | 4/28/2009 |
| 5051 FOOTHILLS DR | $209,900 | 2 | 2 | 991 | CONDO | 4/30/2009 |
| 4325 COUNTRY WOODS CT | $334,900 | 3 | 2 | 1,346 | DETACHD | 4/27/2009 |
| 1858 SOUTHSHORE BLVD | $449,900 | 4 | 2 | 1,762 | DETACHD | 4/27/2009 |
| 4070 WESTBAY RD | $449,996 | 3 | 2 | 1,828 | DETACHD | 5/1/2009 |
| 2 PIMLICO TER | $479,900 | 4 | 2.1 | 2,301 | DETACHD | 4/27/2009 |
| 17144 Warren CT | $529,000 | 4 | 2.1 | 2,725 | DETACHD | 4/27/2009 |
| 13500 TWIN CREEK LN | $572,500 | 4 | 2.1 | 3,049 | DETACHD | 5/2/2009 |
| 4076 Orchard DR | $719,000 | 4 | 3.1 | 3,991 | DETACHD | 4/30/2009 |
| 1785 PALISADES TERRACE DR | $960,000 | 5 | 4.1 | 5,052 | DETACHD | 5/1/2009 |
| 17814 MARYLCREEK DR | $985,000 | 4 | 3.1 | 4,307 | DETACHD | 5/1/2009 |
| 3940 Canal RD | $999,900 | 4 | 3.1 | 3,922 | DETACHD | 5/3/2009 |
| 900 FAIRWAY RD | $1,094,000 | 4 | 3.1 | 3,508 | DETACHD | 4/28/2009 |
| 2778 GLENMORRIE DR | $1,750,000 | 5 | 4.3 | 6,263 | DETACHD | 5/3/2009 |
| 3917 SOUTHSHORE BLVD | $2,390,000 | 3 | 4.1 | 3,975 | DETACHD | 5/1/2009 |
| 1719 LAKE FRONT RD | $3,888,850 | 4 | 5.1 | 5,251 | DETACHD | 5/3/2009 |
| 1901 PALISADES TERRACE DR | $5,950,000 | 5 | 4.1 | 7,284 | DETACHD | 4/27/2009 |
PENDING SALES (April 27-May 3, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | List Date | CDOM |
| 4000 CARMAN DR | $144,000 | 2 | 2 | 932 | CONDO | 4/19/2009 | 8 |
| 16446 INVERURIE RD | $259,900 | 3 | 1 | 2,100 | DETACHD | 1/21/2009 | 303 |
| 15450 SW KIMBALL CT | $260,000 | 4 | 1.1 | 1,104 | DETACHD | 10/4/2008 | 208 |
| 4724 SW FIRWOOD RD | $279,900 | 3 | 1.1 | 1,240 | DETACHD | 7/7/2008 | 296 |
| 2130 WEMBLEY PARK RD | $299,900 | 3 | 1.1 | 1,544 | DETACHD | 1/14/2009 | 280 |
| 6025 KENNY ST | $299,900 | 3 | 1.1 | 1,258 | DETACHD | 4/16/2009 | 11 |
| 605 COUNTRY CLUB RD | $399,900 | 4 | 2.1 | 3,422 | DETACHD | 3/28/2009 | 163 |
| 2 OTHELLO ST | $405,000 | 4 | 3 | 2,265 | DETACHD | 11/18/2008 | 166 |
| 2957 GLEN EAGLES RD | $429,900 | 4 | 3 | 3,288 | DETACHD | 2/3/2009 | 87 |
| 54 AQUINAS ST | $499,900 | 3 | 2.1 | 2,802 | DETACHD | 4/7/2009 | 25 |
| 569 6TH ST | $550,000 | 4 | 2 | 2,168 | DETACHD | 4/22/2009 | 359 |
| 5868 SUNCREEK DR | $659,000 | 4 | 2.1 | 3,174 | DETACHD | 2/23/2009 | 68 |
| 5392 SOUTHWOOD DR | $774,900 | 5 | 3 | 3,871 | DETACHD | 4/15/2009 | 14 |
| 3515 UPPER DR | $1,098,000 | 4 | 3.1 | 4,061 | DETACHD | 3/27/2009 | 275 |
| 18253 Siena DR | $1,197,950 | 5 | 4 | 4,281 | DETACHD | 4/11/2008 | 382 |
SOLD (April 27-May 3, 2009)
| ADDRESS | ORIG. PRICE | SALE PRICE |
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | O/Price | Close Price | # Beds | # Baths | Total SF | Prop Type | List Date | CDOM |
| 47 EAGLE CREST DR | $139,900 | $130,000 | 2 | 1 | 947 | CONDO | 1/30/2009 | 56 |
| 3844 BOTTICELLI ST | $219,900 | $219,373 | 2 | 2 | 1,132 | CONDO | 3/31/2009 | 5 |
| 17079 CHERRY CREST AVE | $430,000 | $390,000 | 3 | 2.1 | 3,002 | DETACHD | 11/3/2008 | 154 |
| 1009 CUMBERLAND PL | $525,000 | $395,000 | 4 | 3 | 2,294 | DETACHD | 11/12/2008 | 332 |
| 4676 WINTHROP CT | $639,900 | $525,000 | 4 | 2.1 | 3,112 | DETACHD | 11/18/2008 | 172 |
| 5772 BAY CREEK DR | $599,000 | $543,000 | 4 | 3 | 3,242 | DETACHD | 2/5/2009 | 58 |
| 14133 AMBERWOOD CIR | $850,000 | $740,000 | 4 | 2.1 | 3,200 | DETACHD | 6/12/2008 | 278 |
| 18475 CRESTLINE DR | $1,548,500 | $1,420,000 | 4 | 4.1 | 4,660 | DETACHD | 10/27/2008 | 148 |
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.
When looking for a new home and desiring easy care and potential community amenities such as pool, larger grounds, meeting space etc (without the responsibility of upkeep), most people will consider either a condo or a town home. Most also aren’t necessarily familiar with several relative factors important to the selection process, so I thought I’d highlight just a few for you here.
Well, the cherry trees are in full bloom, temps are in the 80’s, and real estate activity continues to move forward… a gradually enlivened, seasonal bustle.
3190 Duncan Drive – This property is 2401 SF, 3 bedrooms, 2 1/2 baths, built in 1986, and is bank-owned. It is at the bottom end of a long, steep, private drive shared by a couple of properties, and sits on a hill/perched above Boones Ferry Rd., which you can hear when outside, but not really see too well through the beautiful, natural greenery surrounding the home. Practically speaking, you enter from the driveway side into the kitchen 
area. Double attached garage, deck, large laundry room… generous living room w/fireplace opening to a dining room… flows nicely. Nice master on the main with walk-in closet and jetted tub. Large bath and bedrooms upstairs… You’d want to do some updating, especially in the kitchen and with flooring/new carpeting, but this just seems like a great opportunity in Lake Oswego for someone at $259,900!
4411 Lakeview Blvd.– This home is a split level (sometimes I confess not to like them personally), but this one is a nice layout with a very open entry where you feel like you’re in the living room as you are entering/not in a little hallway as some tend to feel. It is 1828 SF, 4 bedrooms, 2 baths, built in 1972 and remodeled. It has seasonal lake views, and is basically across the street from the 
water. It is close to the intersection of Bryant and Lakeview, and so is close to schools, shops etc etc etc. It is just a really nice house with a great flow, and tasteful updates. Enter the back from a sitting room off the kitchen with beautiful picture window. The backyard is large & very relaxing.You’ll hear the train when it passes (I happen to LOVE the sound), but you’ll be in good company! …other homes on 
Lakeview currently for sale range from $425,000 to $7,500,000. The listing agent states: “Sellers will entertain offers between $299,000 and $338,876.” This home is also listed as a “possible short sale w/one lender”. I am told that the Broker’s Price Opinion (BPO) has already been finished, and the listing agent’s experience is that the Rep is very responsive. Seems like a great deal to me, especially at the bottom end of the range that is specified!
18791 Indian Creek Way – This property is 1965 SF, 3 bedrooms, 2 baths, built in 1977 and remodeled. When we say remodeled, this one is really gorgeous. Dianne and I both looked at each other and said “This is nicely done.” The living room and fireplace are inviting, the feel is open and airy, there are stainless gas appliances, a wine fridge, 2 gas fireplaces, hardwoods, vinyl
windows… lots of them, skylights, and a beautiful backyard patio surrounded by English Gardens (it was evidently featured in Sunset magazine) great for entertaining. The home is advertised as having Bryant Woods pool membership, and proximity to the grade school and middle school is excellent. The price on this one is $439,900. Compare what’s out there… this one is special.
1921 Park Forest Ct– This home is 2531 SF, 3 bedrooms, 2 1/2 baths, built in 1975 & remodeled. The owners have relocated, and I have to say that both Dianne and I were very impressed with this one. The owners took great care in special details, and this home includes high-end features like a gourmet kitchen with beautiful slab 
quartz countertops, a spa w/fireplace, walk-in stone & tile steam shower, air jet tub & heated floors. The plank wood floors are a favorite of mine. The windows in the living room are large and feature beautiful tree’d views, the baseboard detail is stonework throughout the home, and there is a hot tub outside which is 
included “as is”. This one is situated above SouthShore Rd in back. Greentree Pool and Lake Easement is advertised as available. The entry to this home is deceiving… Once you’re in the door you feel like you’re on vacation. There is a water feature to your left as you enter, and the beautiful quartz kitchen with spacious pantry to your right. Walk in and the fireplace and windows say “relax”. The owners wanted that “spa feel” throughout. The asking price is $529,000.
17675 Cardinal Drive – This home on the Blue Heron Canal is 3458 SF, 3 bedrooms and 3 baths, built in 1966 and is advertised as a fixer. Dianne and I took a look at it yesterday, and were very impressed with the waterfront location. The living room is open and the window views are out onto the deck & water. The home needs 
extensive cosmetic fixing such as wallpaper removal, flooring updates, kitchen updates, etc. We are not inspectors, but truly, the feel is of a solid home that has been well lived in with just not much attention to updating. At $599,000 on the canal, I’d say this one deserves some attention.
Ok, things are starting to get interesting- Lake Oswego saw 29 new properties hit the market last week (these are properties that are brand new on the market -or- have been off the market for a minimum of 30 days). All told, there were 45 that are either truly new, or have been “freshened” showing as new listings. (Dianne and I will have plenty to see on tour tomorrow!) We had 7 go pending, and 6 that closed, so sales remain steady for now at this rate.
It was a year or so ago, I think, that I wrote a piece on Lake Oswego and its love affair with trees. I included all manner of information on laws in Lake Oswego limiting tree removal etc. This love of trees is a large part of what makes Lake Oswego so beautiful, and so, like the rain, we take the good with the bad and appreciate the end results of being showered with tree legislation.
Stewardship Event
Arbor Art Show Opening