Category: General

All About Lake Oswego, Oregon real estate topics

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Featured Property: 5959 Suncreek Dr

What a beautiful house! I am super excited to introduce you to 5959 Suncreek Dr in the Westlake neighborhood of Lake Oswego. Here are the stats:

$829,000
3315 square feet
4 bedrooms + den, 2.5 baths
Built in 1988 and totally remodeled
Kitchen, baths, furnace and central air all new in 2016
Since 2016 paint inside and out, electric panel, insulation, garage door openers, hot water heater

Built by Olsen Homes, this house is turn-key and features a master on the main level.

Located on a quiet cul-de-sac, the house is adjacent to Southwood Park and enjoys views of the greenspace.

If you are not familiar with Westlake, this is a highly desirable neighborhood because of its convenience to I-5 and 217. It also features a huge park where summer concerts are held.

I’ll be holding this house open this Saturday and Sunday (July 13th and 14th) from noon to 3:00 each day. Come on by!

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Remodeling: Cost vs Value

In the course of working as a Realtor, one of the common questions I am often asked is “What should I do to get my house ready to sell?” I have addressed this pretty extensively in previous posts, but today I want to be more specific about remodeling for the purpose of selling.

There is always a range of value when pricing a property and that range is based upon condition. The better the condition, the more the house is worth. But having said that, there is not a dollar for dollar return on remodeling.

Remodeling Magazine puts out a list for every region of the United States that gives the average cost of various projects and the amount of additional sales price you can expect from having done the project. It’s pretty surprising. Most projects give a return that is less than the actual cost. Here are some examples from our region on the 2019 list:

Job / Cost / Return/ % of Return

Backyard Patio/ $63,109/ $40,045/ 55.2%

Bathroom Remodel/ $23,548/ $17,728/ 75.3%

Kitchen Remodel/ $75,513/ $49,384/ 68.1%

Master Suite Addition/ $151,211/ $105,965/ 70.1%

New Garage Door/ $3785/ $4685/ 123.8%

There are many more items on the list. This is just a sample. For the complete list, click here.

On this year’s list, the only project that gave a better return than the cost was the replacement of garage doors. In past years I’ve also seen replacement of the front door being a similar good investment.

The bottom line is that if you are going to remodel, do it while you are still going to live in the house. This way you’ll get more out of it than the cost of the project, you’ll also get the enjoyment of the project.

My last bit of advice is that the most significant thing you can to do maximize the return on your real estate investment is to maintain it properly during the time that you own it and to really deep clean it before you list if for sale.

As always, thanks for reading the blotter.
Dianne

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News & Notes ~ January 2019 Numbers

Here is your look at the most recent data for the entire Portland area (Jan 2019) and how Lake Oswego fits in to this picture just below.

According to the RMLS Market Action Report for the Portland Metro Area, January, 2019:

  • There were 3,048 New Listings in January 2019 which was up 22.0% from January of 2018’s 2,486, and more than double the previous month/Dec of 2018’s total of 1,255 .
  • At 1,451 January 2019’s Closed Sales cooled  10.9% from January 2018’s 2,311, and also 21.4 % from the previous month/Dec 2018’s total of 1,846.
  • January 2019’s Pending Sales (accepted offers), at 2,045 are down 11.5% down from January of 2018’s 2,311, and surged ahead 27.9% from the previous month/Dec 2018’s total of  1,599.
  • The Average Sale Price in January 2019 of $435,600 was down slightly/$800.00 from last year/January 2018’s $436,400, and also down a little from the previous month/Dec 2018’s $438,600 by $3,000.  
  • The Median Sale Price in January 2019 of $384,900 was down $5,100.00 from last year/January 2018’s $390,000, and also down the same from the previous month/Dec 2018’s $390,000.   

Neighborhoods: January’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $403,900              2.8%   (Dec 388,700)
    •                                                     YTD Median: $379,500
  • NE Portland:  $439,500                   3.5%   (Dec 450,600)
    •                                                     YTD Median: $370,000
  • SE Portland:  $390,000                   5.5%   (Dec 425,900)
    •                                                     YTD Median: $357,000
  • Gresham/Troutdale:   $349,300     6.5%   (Dec 338,500)
    •                                                     YTD Median: $346,300
  • Milwaukie/Clackamas:  $410,500  3.6%   (Dec 427,500)
    •                                                     YTD Median: $389,900
  • Oregon City/Canby:   $397,100      6.4%   (Dec 428,600 )
    •                                                     YTD Median: $366,500
  • Lake Oswego/West Linn:$664,200 2.3%   (Dec 636,300)
    •                                                      YTD Median: $532,500
  • West Portland:    $589,800             3.1%   (Dec 588,800)
    •                                                     YTD Median: $525,000
  • NW Wash County:  $559,600          1.8%   (Dec 483,400)
    •                                                      YTD Median: $572,500
  • Beaverton/Aloha:     $393,900       8.8%   (Dec 381,600 )
    •                                                     YTD Median: $365,000
  • Tigard/Wilsonville:   $440,100       6.3%   (Dec 459,600 )
    •                                                      YTD Median: $410,000
  • Hillsboro/Forest Grove: $391,500  5.5%   (Dec 382,100 )
    •                                                      YTD Median: $372,500

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of January 2019 reported:

    •  299 Active Listings   (Dec 296 )
    •  185 New Listings     (Dec 115)
    •   94 Pending Sales  (Dec 91)
    •   82 Closed Sales      (Dec 75)
    • Average Sale Price for January: $664,200  (Dec $636,300)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  76 Average Days on the Market   (Dec 76)

 

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Design Trends for 2019

I find design trends fascinating. When done well they are exciting and something we work to incorporate into our homes. When bad, they are entertaining because I’m curious to see if they will actually catch on. I compiled this list using multiple sources which I have sighted at the end of this post.

Let’s start with trends that are “out”:

Eclectic clutter, boho accessories, too much junk, it comes by many names but it pretty much boils down to rooms that are over loaded with art, pillows, trims and furniture. I find myself asking, was this ever in style? Clean and orderly never goes out of style.

Cherry cabinets. I would agree with this one. A recent article in The Oregonian stated that 43% of home owners want white cabinets. I do think wood cabinets are still popular, but white is making a come back.

Solid-white-quartz counters. I think it’s the white component. As previously stated, white cabinets are popular and white counters with white cabinets are not enough contrast to showcase a beautiful room.

Gallery walls. These are entire walls that are filled with photos and art. I think this falls in line with eclectic clutter, found at the top of this list.

Word art. Whether painted onto the wall or done with large letters that are hung on the wall, this is a design trend that has been around for a very long time. I’m glad to see it go.

Kitchen islands. Really? I mean, really? Don’t we all want a kitchen that is large enough to hold a kitchen island? I don’t think I see this one panning out. The rational is that islands take up a lot of space and provide very little storage. Hmmmm…I don’t see kitchen islands going out of style but time will tell.

Here are the trends that are foreseen as leading design changes for 2019:

Sustainability. This applies to both the materials used and the source of the materials. This one makes total sense to me and is long over due. There are gorgeous woods available in our region without having to log trees out of the rain forests of South America. In line with this concept are materials that are natural and hand made.

Biophilia. This terms is the concept that people and nature are integrated and our homes should reflect that. Think of rooms with large walls and windows that can be opened to to bring the outside in. Back yards with out door living spaces that include comfortable furniture and full cooking capability. It also ties into the sustainability idea by using natural fibers, stone, wood, and natural lighting.

70’s chic, Memphis design, it has quite a few names. The concept is the use of primary colors and graphic shapes. Tile in particular is heavily influenced by this. There is lots of use of geometric shapes and patterns.

Blush pink. One website referred to it as “millennial pink”. That gave me a laugh.

Wall papers and floral prints, oh my. This is one where I want to put out a public service announcement to “just say no”. As you can tell, I’m not a fan.

Vintage lighting. Light fixtures are such an affordable way to update a house. The vintage stuff out there is fantastic. Go with this one.

90% white and 10% color. White is in.

Mixed metals. Brushed bronze was predicted a few years ago to take over brushed nickel in faucets, hardware and kitchen knobs. That didn’t pan out. I think brushed nickel is still far more popular than other metals. Perhaps mixing the metals is a more gentle manner of transitioning. Copper and brass are now commonly found in fixtures and hardware.

These trends appear to be a toss up. Some lists put them on the “out” list, and some put them on the “in” list:

Velvet furniture. Is it plush and funky? Is it dated and stodgy? I think it comes down to what you like. If you like it, go for it.

Jewel tones. These are bold blues, reds, greens, the colors of sapphires, rubies, and emeralds. Like the velvet furniture, it’s both in and out. If you like it, go for it.

Concrete floors and counters. This trend has always been edgy. I personally think it is a material source that is sustainable and practical but it needs to be the right house. It does not belong in a Georgian Colonial. It would do really well in a ultra-modern loft.

We shall see which of these bear out to be true. Happy house hunting!
Dianne

Sources for this blog post included:
elledecor.com
decoraid.com
houzz.com
Realtor.com
The Oregonian

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Lake Oswego’s Own ‘La Provence’!

There are so many reasons to choose to live in Lake Oswego, not the least of which is the quality of amenities offered here in this little hamlet outside of Portland, Oregon.  A small-ish community can often lack the cultural and foodie resources found in a larger city, but here in Lake Oswego, we got lucky.  Lake Oswego has the Lake Theater & Cafe for movies & live music events, as well as the Lake Oswego Center for the Arts which is a 2-stage venue for plays & musicals. Right across the street from that is George Rogers Park which hosts various festivals and concerts all summer long, along with Foothills Park, Westlake Park, Movie Nights and Farmers Markets in Millennium Park Plaza… on & on. Then there are the myriad restaurants & shops found off of State Street as well as Boones Ferry Road (kind of the two “main drags” of Lake Oswego). Lake Oswego does not want for places to obtain delicious food & wine, fancy or practical clothing, gifts…well, you get the idea. There are abundant resources in Lake Oswego for a cozy bedroom community.

Diane and I have put a spotlight on a businesses here & there through the years, and there are so many, but today I just wanted to say a few words about La Provence, restaurant & bakery. I remember discovering it when I first moved to Lake Oswego around 1999, and I came to make it a staple for family dinners and client lunches. Its also the place I go for a special treat for my French husband who is also a chef and rather particular in his taste for treats!  Alain Machtelinckx, Didier Blanc Gonet, and Pascal Tisseur opened it in 1996 a few blocks away from its current location at 16350 Boones Ferry Road when they could not find the  kind of authentic, rustic artisan bread they grew up on, and decided to do something about it. They are dedicated to the food they serve and the ambience they provide. They really try to instill a real old-world feeling into La Provence by doing things themselves… including making the tables and draperies in-house! From macarons to fine cuisine, everything is a reflection of their initial desire to bring the food they so loved in France to Oregon.  Nowadays they have 8 restaurants around the Portland area, but Lake Oswego will always be “home”.   As I mentioned, La Provence moved to a newer and larger restaurant space in Lake Oswego a few years back that is a recommended destination for anyone who loves good food and pleasant environs.

When you have the chance you ought to stop in for a pastry, lunch or dinner!  Lake Oswego is so lucky to have this gem. Here is a link to their main website where you can click on Lake Oswego or explore the other locations:  La Provence

As well as a link to their Lake Oswego location’s menu: La Provence Menu

Bon Apetit!

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Merry Christmas!

Merry Christmas! Happy Holidays! Happy Hanukkah! Happy Kwanzaa! Whatever your faith, whatever your situation, Linda and I want to wish you and yours all the best this holiday season. Here at the blotter we are going to take a two week hiatus. We will be back with our market activity reports and news and information about real estate in Lake Oswego the week of January 6th. In the mean time, enjoy your family, friends, and all of the wonders of this very special time of year.
Our best wishes to you,
Dianne and Linda

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News & Notes ~ October 2018 Numbers

Inventory is still higher than usual, but is slowing down just a bit. I hate to keep beating this drum, but it really is the best time of year to buy.  Two of my clients just snapped up two gorgeous Lake Oswego homes and had some great options from which to choose. In any event, please call me or Dianne if you’d like to take advantage of this market.

Here is your look at the most recent data for the entire Portland area (Oct) and how Lake Oswego fits in to this picture just below:

  • According to the RMLS Market Action Report for the Portland Metro Area, October, 2018:
    • There were 3,100 New Listings in October 2018 which was up 4.0% from October of 2017’s 2,981, and/but down 14.0% from the previous month/Sept of 2018’s total of 3,606 .
    • At 2,440, October Closed Sales fell  4.9% from October 2017’s 2,565, but are up 7.4 % from the previous month/Sept 2018’s total of 2,272.
    • October’s Pending Sales (accepted offers), at 2,484 down 8.2% down from October of 2017’s 2,705, but up 0.5% from the previous month/Sept 2018’s total of  2,471.
    • The Average Sale Price in October of $454,400 was up $15,900 from October 2017’s $438,500, and also up from the previous month/Sept 2018’s $447,800 by $6,600.   

Neighborhoods: October’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $428,700              4.8%   (Sep 416,300)
  • NE Portland:  $463,100                   3.8%   (Sep 433,700)
  • SE Portland:  $395,200                   5.8%   (Sep 420,200)
  • Gresham/Troutdale:   $359,700     9.0%   (Sep 352,200)
  • Milwaukie/Clackamas:  $410,200  4.3%   (Sep 437,400)
  • Oregon City/Canby:   $408,600      6.4%   (Sep 404,300)
  • Lake Oswego/West Linn:$714,500 2.6%   (Sep 627,000)
  • West Portland:    $646,200             4.2%   (Sep 631,700)
  • NW Wash County:  $588,300          3.3%   (Sep 486,200)
  • Beaverton/Aloha:     $398,000       7.4%   (Sep 402,800)
  • Tigard/Wilsonville:   $454,400       6.9%   (Sep 466,900 )
  • Hillsboro/Forest Grove: $400,500  6.5%   (Sep 393,200 )

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of October 2018 reported:

    •  454 Active Listings   (Sep 507 )
    •  153 New Listings     (Sep 183)
    •  101 Pending Sales  (Sep 122)
    •  121 Closed Sales      (Sep 141)
    • Average Sale Price for October: $714,500  (Sep 627,000)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  61 Average Days on the Market   (Sep 58)
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This Week in Lake Oswego ~ Oct 15-19, 2018

This week (as most weeks) there are tons of activities to choose from in Lake Oswego. Fall is here and there are plenty of indoor choices.

Here are my picks for things happening this week!

Mon, Oct 15 2018– 9:30-11AM – Learning and Technology Group ~ -Every Monday this informal but comprehensive program welcomes walk-ins and addresses a wide array of technology issues. Recent topics have included Turbo Taax, Online Investing and more!~ Adult Community Center –  Info:  CLICK HERE

Tue, Oct 16, 2018 – Third Tuesday Author 7-8PM –  Don’t miss Colonel William E. Campbell who will be discussing his  book “The Vietnam War: An Untold Story of Drugs”. Colonel Campbell returned from Vietnam in 1972 after serving as Battalion Commander of the 90th Replacement Battalion. He witnessed first-hand the drug problems that affected the troops, and the Army’s attempt to detoxify those who had become addicted. ~ Lake Oswego Public Library  Info:  CLICK HERE  

Wed, Oct 17, 2018 – 1:30-3:30PM – Alzheimer’s Support Group – The Caregivers group is designed for family members and friends caring for older adults with memory problems related to Alzheimer’s. Everybody could use a little help, plus tips and information for caregivers. Co-Sponsored by the Alzheimer’s Association every third-Wednesday ~ Adult Community Center –Info:  CLICK HERE     

Thu, Oct 18, 2018 4:00-5:30PM – All Things Yarn! ~ Have you always wanted to learn how to knit? Are you an experienced knitter who likes to hang out with friends while knitting?  Either way, this is the place to be every third-Thursday for you!  Yarn & snacks provided. ~  Lake Oswego Public Library:  CLICK HERE

Fri, Oct 19, 2018 10:30-11AM (every Friday )- Baby Storytime– Bubbles, songs, laptime activities, and of course books, for you and your baby! – Lake Oswego Public Library Info: CLICK HERE

 

 

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Market Activity ~ Sept 17-23, 2018

Greetings Property Blotter Readers!

Well, fall is upon is. Activity continues & though it has slowed, it remains steady. There are 312 homes for sale in Lake Oswego. Last week 9 New properties entered the market, 17 moved to Pending status, and 19 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Sep 17-23, 2018)

Address List Price # Beds # Baths Total SF Prop Type
6880 SW MONTAUK CIR #6882 $220,000 2 1 924 CONDO
204 RIDGEWAY RD #204 $239,000 1 1 778 CONDO
668 MCVEY AVE #35 $280,000 1 1 636 CONDO
5711 MCEWAN RD $384,900 3 1 1467 DETACHD
6096 HARRINGTON AVE $469,500 3 2 2833 DETACHD
1196 OXFORD DR $489,000 4 3 2704 DETACHD
3306 EDGEMONT RD $585,000 4 2 1733 DETACHD
14580 UPLANDS DR $799,000 3 3 2120 DETACHD
14520 PFEIFER DR $909,000 4 3.1 4013 DETACHD

PENDING SALES (Sep 17-23, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
6925 SW MONTAUK CIR / Grnd $215,000 2 1 927 CONDO 8
196 RIDGEWAY RD / Grnd 320500 – 325900 3 2 1659 CONDO 6
1418 BOCA RATAN DR $375,000 4 2 1611 TOWNHSE 25
5305 KENNY ST $425,000 3 1 1170 DETACHD 16
5540 MCEWAN RD $458,000 3 3 1898 DETACHD 104
14311 SHERBROOK PL $498,000 3 2 1702 DETACHD 9
14 OTHELLO ST $614,900 4 2.1 2538 DETACHD 183
5156 GREENSBOROUGH CT $659,900 4 2.1 2462 DETACHD 4
12 DA VINCI ST $734,000 4 3 2959 DETACHD 56
5099 LAKEVIEW BLVD $824,900 3 3.1 2747 DETACHD 84
19463 LORNA LN $975,000 4 3.1 4055 DETACHD 88
13613 PROVINCIAL HILL WAY $999,500 5 3.1 4327 DETACHD 171
17600 UPPER CHERRY LN $1,075,000 4 3.1 3900 DETACHD 100
13589 ROGERS RD $1,084,900 4 4 3302 DETACHD 123
554 4TH ST $1,195,000 4 4.2 3376 TOWNHSE 243
13575 MEADOWCREEK LN $1,199,500 4 2.1 3370 DETACHD 116
3487 LAKE GROVE AVE $1,275,000 4 3.1 3473 DETACHD 27

SOLD (Sep 17-23, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #30 $166,500 $166,500 1 1 617 CONDO 6
4615 LAKEVIEW BLVD / Grnd $199,900 $189,000 1 1 753 CONDO 31
4000 CARMAN DR #E74 $204,900 $200,000 2 2 836 CONDO 56
4000 CARMAN DR #50 $244,900 $239,000 1 1 890 CONDO 140
12848 BOONES FERRY RD $389,900 $389,900 2 2.1 1182 CONDO 34
668 MCVEY AVE #58 $415,000 $415,000 3 1.1 992 CONDO 92
4837 REDWING WAY $429,900 $435,000 3 1.1 1180 DETACHD 3
4366 WOODSIDE CIR $437,500 $435,000 3 2.1 1963 ATTACHD 47
72 WHEATHERSTONE $439,900 $439,900 3 3.1 2465 CONDO 5
1115 OAK TER $498,000 $500,000 4 2.1 1880 DETACHD 12
17143 REBECCA LN $547,000 $515,000 3 2.1 1943 DETACHD 45
5475 WILLOW CT $575,000 $520,000 3 2.1 2438 ATTACHD 63
1565 MEADOWS DR $540,000 $537,000 3 2.1 2508 DETACHD 3
16942 CANAL CIR $675,000 $675,000 3 2 1551 DETACHD 6
2719 GREENTREE RD $689,000 $722,500 5 3.1 3886 DETACHD 3
18909 65TH AVE $1,050,000 $840,000 4 2 4858 DETACHD 16
14117 BARRINGTON CT $1,095,000 $1,060,000 4 3 3503 DETACHD 37
2212 GLENMORRIE LN $1,150,000 $1,110,000 5 2.1 3722 DETACHD 28
1056 BAYBERRY RD $1,549,000 $1,510,000 4 4 3805 DETACHD 124

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.