Lake Oswego saw 14 new properties hit the market last week. We had 6 go pending, and 5 that closed. Looks like some steady activity is continuing.
I think it’s interesting to note that some of the older inventory is moving, and some of the newer inventory is moving rather quickly, relatively speaking, as evidenced by 3 pending sales that had been on the market for over 8 months, and one other achieving pending status in just 7 days! The other two were on the market for less than 3 months before getting to pending status. As for sold/closed properties- one of the 5 had been on the market for over 11 months prior to sale, but we had one sell in about 2 weeks, and 2 that had been on the market for 5 & a just a little over 5 months.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (February 2—February 8, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
LIST DATE
|
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date |
| 45 OSWEGO Summit | $139,900 | 1 | 1 | 764 | CONDO | 2/2/2009 |
| 3882 BOTTICELLI ST | $224,900 | 3 | 2 | 1,224 | ATTACHD | 2/3/2009 |
| 204 CERVANTES CIR | $259,000 | 3 | 1.1 | 1,138 | CONDO | 2/3/2009 |
| 790 BOCA RATAN DR | $269,900 | 3 | 2 | 2,112 | DETACHD | 2/6/2009 |
| 17304 MARJORIE AVE | $333,000 | 3 | 1.1 | 1,340 | DETACHD | 2/3/2009 |
| 1685 MAPLELEAF RD | $365,000 | 3 | 2 | 1,433 | DETACHD | 2/2/2009 |
| 1299 HIDE A WAY LN | $425,000 | 3 | 2 | 1,893 | DETACHD | 2/8/2009 |
| 1510 FERNWOOD DR | $595,000 | 5 | 3 | 3,291 | DETACHD | 2/4/2009 |
| 2957 GLEN EAGLES RD | 599000 | 4 | 3 | 3,288 | DETACHD | 2/3/2009 |
| 5772 BAY CREEK DR | 599000 | 4 | 3 | 3,242 | DETACHD | 2/5/2009 |
| 17879 HILLSIDE DR | 674900 | 3 | 3 | 3,049 | DETACHD | 2/5/2009 |
| 1991 COUNTRY CLUB RD | 879000 | 4 | 4 | 3,414 | DETACHD | 2/6/2009 |
| 17460 Wren CT | 1495000 | 4 | 3.1 | 3,300 | DETACHD | 2/8/2009 |
| 4313 WESTBAY RD | 2775000 | 4 | 3.1 | 4,000 | DETACHD | 2/2/2009 |
PENDING SALES (February 2—February 8, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date | CDOM |
| 44 EAGLE CREST DR | $114,950 | 1 | 1 | 798 | CONDO | 1/29/2009 | 7 |
| 95 KINGSGATE RD | $310,000 | 3 | 2.1 | 1,669 | DETACHD | 12/14/2008 | 51 |
| 5291 CHINOOK CT | $375,000 | 7 | 3 | 2,331 | DETACHD | 12/8/2008 | 286 |
| 4761 LAMONT WAY | $390,000 | 3 | 2 | 1,816 | DETACHD | 11/13/2008 | 83 |
| 1555 BAY VIEW LN | $995,000 | 4 | 4.1 | 4,775 | DETACHD | 1/19/2009 | 277 |
| 13200 THOMA RD | $1,995,000 | 5 | 5.2 | 7,648 | DETACHD | 11/4/2008 | 504 |
SOLD (February 2—February 8, 2009)
| ADDRESS | ORIG. PRICE | SALE PRICE |
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | O/Price | Close Price | # Beds | # Baths | Tot. SF | Prop Type | List Date | CDOM |
| 3668 SPRING LN | $199,900 | $164,400 | 2 | 2 | 1,120 | CONDO | 1/6/2009 | 16 |
| 4206 WOODSIDE CIR | $284,900 | $284,900 | 2 | 2 | 1,799 | ATTACHD | 8/3/2008 | 151 |
| 1640 WORTHINGTON ST | $359,900 | $335,500 | 4 | 3 | 2,342 | DETACHD | 10/28/2008 | 66 |
| 5079 W SUNSET DR | $458,650 | $365,000 | 2 | 2.1 | 1,760 | ATTACHD | 7/25/2008 | 336 |
| 13217 FOX RUN | $610,000 | $508,200 | 4 | 3 | 2,706 | DETACHD | 6/23/2008 | 160 |
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.


Tuesday was such a momentous occasion, and many of us took time off from work to watch the inauguration and the rest of the exciting events of the day. In the afternoon I took one of the many photographs I’d shot from the television screen and emailed it with my best wishes to a huge list of family and friends. I called the photo and email “New Day in my Kitchen”.
We’ve given you plenty of coverage of the exciting and unusual weather experienced lately here in Lake Oswego. I hesitate to scare the bajeezeez out of anyone contemplating living here, and/but believe that even though this is unusual weather, the story I’m about to share is extremely valuable for just that reason, and highlights the importance of giving great consideration to the type of insurance you decide to carry when purchasing a home.
Scott Burns, a professor of geology at Portland State University advises: “The important thing is to get people in Portland and the rest of this area to ask the question, ‘What can I do to prevent landslides on my property?’ ” “There was just a lot of storm water going down the streets and going in every direction,” said Bill Burns, an engineering geologist with the state Department of Geology and Mineral Industries. “There was just so much water, it was just over-taking the system.”
The family reportedly had homeowners insurance, but not the additional protection of landslide coverage which is typically excluded from most policies. I would pose that in addition to being the most diligent and informed homeowner you can possibly be, you also need to acknowledge that sometimes “stuff happens”, and therefore it is prudent to assess any “potential” hazards (even if you believe them unlikely) and protect yourself with appropriate insurance. This means you may end up being the one inquiring as to the availability of such add-ons, and so need to come armed to any discussion with data to guide your inquiries and decisions. To that end, let me provide you with some basic information, which I suggest you view as a primer, and not as the replacement for consultation with your insurance agent who, unlike me, is the “insurance expert”: