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.
The headlines read: “Mortgage Rates Drop to Record Lows”. According to Bankrate.com, the benchmark 30-year fixed-rate mortgage has dropped 6 basis points to 5.13%. The benchmark 15-year, fixed-rate mortgage fell 7 basis points to 4.73%. Mortgage rate applications are up, and many are taking advantage of the 2009 $8,000. tax credit for first time buyers. (Click here for more info from the NAR.)
We can expect to see these factors start to significantly affect market activity. The rise in the number of new listings appears to indicate renewed confidence along with seasonal upswing, and consistent sales activity likely indicates pent-up demand starting to surface, as you’d expect with the incentives of low rates and plentiful options.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (March 30—April 5, 2009)
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date |
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date |
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date |
| 47 EAGLE CREST DR | $132,900 | 2 | 1 | 932 | CONDO | 4/2/2009 |
| 86 KINGSGATE RD | $155,000 | 2 | 2 | 849 | CONDO | 4/2/2009 |
| 86 KINGSGATE RD | $159,900 | 2 | 2 | 924 | CONDO | 4/3/2009 |
| 86 KINGSGATE RD | $169,000 | 2 | 2 | 849 | CONDO | 3/31/2009 |
| 165 OSWEGO SMT | $199,900 | 2 | 2 | 1,383 | CONDO | 4/3/2009 |
| 4230 COLLINS WAY | $289,000 | 3 | 2 | 1,512 | DETACHD | 4/1/2009 |
| 4465 GOLDEN LN | $299,900 | 2 | 2.1 | 1,980 | CONDO | 4/2/2009 |
| 6025 SW CARMAN DR | $299,900 | 3 | 1.1 | 1,346 | DETACHD | 4/5/2009 |
| 18929 TERRY AVE | $374,950 | 4 | 2 | 2,065 | DETACHD | 3/30/2009 |
| 19060 INDIAN SPRINGS CIR | $399,900 | 3 | 2 | 1,525 | DETACHD | 4/1/2009 |
| 37 BERWICK RD | $425,000 | 5 | 2 | 2,198 | DETACHD | 3/30/2009 |
| 13470 PETERS RD | $474,900 | 3 | 2.1 | 2,324 | ATTACHD | 4/1/2009 |
| 2650 DELLWOOD DR | $499,000 | 4 | 3 | 3,238 | DETACHD | 4/1/2009 |
| 161 C AVE | $549,900 | 2 | 2.1 | 1,719 | ATTACHD | 4/1/2009 |
| 6110 CHILDS RD | $550,000 | 4 | 3 | 3,258 | DETACHD | 4/1/2009 |
| 400 LAKE BAY CT | $579,900 | 3 | 2.1 | 1,680 | DETACHD | 4/1/2009 |
| 2830 PARK RD | $625,000 | 4 | 3.1 | 3,116 | DETACHD | 3/31/2009 |
| 2188 OVERLOOK DR | $639,900 | 4 | 2.1 | 2,618 | DETACHD | 3/30/2009 |
| 246 GREENWOOD RD | $674,900 | 3 | 3 | 2,125 | DETACHD | 4/1/2009 |
| 15671 VILLAGE DR | $724,000 | 3 | 2.1 | 3,390 | DETACHD | 4/2/2009 |
| 16616 LAKE FOREST BLVD | $750,000 | 4 | 2.1 | 3,314 | DETACHD | 4/1/2009 |
| 15543 VILLAGE DR | $799,000 | 4 | 2.1 | 3,081 | DETACHD | 3/31/2009 |
| 17215 LOWENBERG TER | $850,000 | 4 | 2.1 | 2,819 | DETACHD | 4/2/2009 |
| 13711 FIELDING RD | 789000 – 898876 | 3 | 4 | 4,649 | DETACHD | 3/30/2009 |
| 511 6TH ST | $988,000 | 5 | 3.1 | 4,000 | DETACHD | 4/2/2009 |
| 917 Evergreen ST | $1,000,000 | 4 | 3.1 | 2,700 | DETACHD | 3/30/2009 |
| 17960 SARAH HILL LN | $1,179,000 | 5 | 3.1 | 4,800 | DETACHD | 4/1/2009 |
| 1099 TROON RD | $1,250,000 | 5 | 3.1 | 3,938 | DETACHD | 3/30/2009 |
| 13371 ATWATER LN | $1,299,900 | 4 | 3 | 4,795 | DETACHD | 4/5/2009 |
PENDING SALES (March 30—April 5, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQFT
|
PROP TYPE |
DOM
|
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date | CDOM |
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date | CDOM |
| 3844 BOTTICELLI ST | $219,900 | 2 | 2 | 1,132 | CONDO | 3/31/2009 | 5 |
| 18307 LONGFELLOW AVE | $329,900 | 3 | 2 | 1,457 | DETACHD | 8/23/2008 | 222 |
| 785 5TH ST | $399,900 | 3 | 2 | 2,208 | DETACHD | 11/18/2008 | 132 |
| 13581 GOODALL RD | $550,000 | 3 | 2 | 1,220 | DETACHD | 10/10/2008 | 575 |
| 5772 BAY CREEK DR | $574,500 | 4 | 3 | 3,242 | DETACHD | 2/5/2009 | 58 |
| 12611 BOONES FERRY RD | $599,900 | 5 | 3.1 | 4,042 | DETACHD | 2/17/2009 | 142 |
| 2900 WEMBLEY PARK RD | $697,000 | 4 | 2.1 | 3,383 | DETACHD | 3/31/2009 | 4 |
SOLD (March 30—April 5, 2009)
| ADDRESS | ORIG. PRICE | SALE PRICE |
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | Orig Price | Sale Price | # Beds | # Baths | Tot. SF | Prop Type | List Date | CDOM |
| Address | O/Price | Close Price | # Beds | # Baths | Tot. SF | Prop Type | CDOM |
| 4 TOUCHSTONE | $129,900 | $125,000 | 2 | 2 | 979 | CONDO | 192 |
| 4470 CHAPMAN WAY | $380,000 | $310,000 | 3 | 3 | 2,125 | DETACHD | 188 |
| 2800 WEMBLEY PARK RD | $374,500 | $342,000 | 3 | 2 | 1,575 | DETACHD | 10 |
| 1228 HALLINAN CIR | $389,000 | $375,000 | 4 | 2 | 1,932 | DETACHD | 7 |
| 625 CLARA CT | $587,500 | $542,000 | 3 | 2.1 | 2,532 | DETACHD | 297 |
| 13222 DEERFIELD CT | $649,000 | $600,000 | 4 | 2.1 | 3,022 | DETACHD | 331 |
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. CDOM stands for cumulative days on market, which includes any re-listing and measures from the initial listing date.
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
Lake Oswego is known far & wide for its family-friendly environment and involved citizenry. The schools here are excellent, there are clubs and outlets for all kinds of interests, and of course a myriad of programs for kids of all ages. I wanted to take a moment to highlight a terrific resource called the “McKenzie Lounge for Teens”.
The McKenzie Lounge is located in the West End Building at 4101 Kruse Way. The Youth Action Council,
According to the city’s website
The best thing about the McKenzie Lounge however, is that teens actually report enjoying it! For instance, during the election, the Lounge hosted a series of “Debate ’08” nights featuring the Presidential and Vice Presidential Debates, opportunities for lively discussion, as well as food and extra credits from social studies teachers. The debate series attendance reportedly totaled 115 students, drop-in attendance is reportedly growing by 25% every three months, and teens have been quoted as saying that the McKenzie Lounge ranks right up there with Taco Bell and the video game store as cool hang-out choices.
A while back Dianne wrote a post on the Realtors Code of Ethics. I loved that post because I don’t think most people are aware of all the standards to which Realtors are held. It really is great to be in a profession where we are mandated to treat each other and the general public with respect. That mandate then becomes a part of our culture. I notice it in the conversations I have with other Realtors. There definitely is a flavor of deliberate respect that is not always the experience for most of us in the day-to-day “non-real estate” wider world of affairs.