Category: General

All About Lake Oswego, Oregon real estate topics

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Wishes of Peace

Dianne and I wish you and yours the happiest holiday ever!  Enjoy those things you treasure most, indulge in your fondest memories and go ahead… have that food that you usually do not. We wish for you that deep feeling of contentment that comes from the memories or the people or the combination of it all…  depending on your circumstances. Most of all we wish you a heart filled with a cherished, peaceful feeling. Maybe one from childhood where you could hear the big people still talking in the other room and knew you could fall asleep with all things well in the world. Whichever holiday you celebrate, we want you to know we truly appreciate you and will be thinking of you till we return from a little break. We’ll be back here with all the news and content we love to bring you about Lake Oswego after the New Year begins!

See you soon. May Peace reign in your life this holiday season~

Linda & Dianne

 

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Market Activity Nov 18-24, 2019

Yes, there is a very small chance of snow flurries this week. Nothing like what is happening in the midwest, but still a clear sign that winter is around the corner. Meanwhile, real estate chugs right along. The numbers remain interesting. Last week in Lake Oswego there were 3 new listings, 17 properties that went pending, and 25 closed sales. Folks who want to buy at this time of year are highly aware of the holidays. It’s a natural time to make a move as most employers give time off during the holidays, which makes organizing the move easier. So lots of houses continue to sell with the target of moving by the holiday.

Following is the breakdown for you according to RMLS:

New on the Market (Nov 18-24, 2019)

Address Type Price BR Baths Sq Ft
1293 Hide A Way Ln Detached $585,000 3 2.5 1720
2425 Prestwick Rd Detached $719,000 3 2 1464
6351 Burma Rd Detached $899,500 4 4 3500

Pending Sales (Nov 18-24, 2019)

Address Type Price BR Baths Sq Ft CDOM
8 Crestfield Ct Condo $162,900 1 1 689 132
218 Cervantes #219 Condo $229,000 2 2 1100 135
3433 McNary Pkwy #107 Condo $235,000 2 2 1008 6
4057 Jefferson Pdwy Attached $295,000 3 2.5 1247 24
5060 Foothills Dr B Condo $350,000 2 2 1252 30
668 McVey Ave #36 Condo $410,000 2 1 852 31
6315 Dawn St Detached $469,500 3 2 1934 127
15371 Twin Fir Rd Detached $485,000 4 2 2876 3
1611 Lee St Detached $589,900 3 2.5 2539 2
41 Tanglewood Dr Detached $632,500 4 3 3001 141
18263 Anduin Terr Detached $690,000 4 3 3103 133
615 Lake Bay Ct Detached $900,000 3 3 2555 129
17808 Hillside Way Detached $995,900 4 3.5 3166 118
13581 Rogers Rd Detached $999,500 4 2.5 2971 287
15136 Glen Eagles Ct Detached $1,100,000 4 2.5 3150 3
4277 Upper Dr Detached $1,625,000 5 3.5 3851 141
6720 Childs Rd Detached $1,850,000 4 4.5 6898 153

Sold/Closed (Nov 18-24, 2019)

Address Type List Price Sold Price Sq Ft CDOM
319 Cervantes Condo $239,900 $225,000 1209 60
56 Galen St Condo $239,950 $235,500 989 14
3968 Carman Dr Condo $309,900 $290,000 1107 35
48 Oriole Ln Townhouse $509,000 $455,000 2072 147
17273 Bryant Rd Detached $492,000 $465,000 1452 88
17518 Redfern Ave Detached $499,000 $535,500 1831 7
17144 Rebecca Ln Detached $539,900 $545,900 2018 3
13455 Auburn Ct Attached $549,900 $549,900 1937 14
14201 Dolph Ct Detached $699,000 $577,000 1916 91
17521 Tree top Ln Detached $589,000 $589,000 2488 3
975 Southshore Blvd Detached $639,900 $629,900 2191 44
18381 Heather Ann Ct Detached $709,900 $650,000 2983 315
71 Nansen Summit Detached $749,000 $680,000 3523 63
16805 Gassner Ln Detached $699,000 $755,000 1773 4
14100 Edenberry Dr Detached $775,000 $775,000 2881 2
654 1st St Condo $824,900 $790,000 2140 167
630 9th St Detached $900,000 $859,000 2683 14
15870 Twin Fir Rd Detached $900,000 $875,000 2856 71
13978 Westcott Ct Detached $945,000 $885,000 3267 56
5685 Charles Circle Detached $929,900 $895,000 2542 35
18049 Skyland Circle Detached $1,080,000 $1,050,000 3717 188
17912 Kelok Rd Detached $1,225,000 $1,225,000 3218 6
4011 Westbay Rd Detached $1,895,000 $1,635,000 4518 196
1120 Crestline Ct Detached $2,800,000 $2,500,000 6440 233
1142 Crestline Ct Detached $3,850,000 $3,300,000 6440 233

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.

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Convenience

Today I want to talk about convenience. More specifically, the convenience of where Lake Oswego is located.

We are about 10 miles South of downtown Portland, on the West side of the Willamette River. Interstate 5 is along our West boundary. Hwy 217 ends where LO begins. Interstate 205 is about a mile South of our South boundary. What does this mean? Well, it means you can get anywhere in the Portland metro area pretty darn easily. I-5 is the main artery of the entire West coast of the United States. Besides getting you into downtown Portland fairly quickly, it also takes you to Seattle, San Francisco and Los Angeles. 217 takes you to the largest employers in the state. You know, Nike, Intel, those guys. And 205 takes you to the East side of the metro area, including the airport. It’s kinda ideal.

Then there is she convenience of shopping. I’ve made this point before, so I’ll keep it brief. You need to buy something? It’s just minutes away. I’m talking more grocery stores than are really needed (is that possible?), Trader Joe’s, Costco, Home Depot, Bridgeport Village and Washington Square, it’s all super easy and quick to get to.

But what I really want to talk about are the parks. I’m a walker. I love to walk in nature parks. I first started doing this because I was putting in a lot of miles to train for a goal I had set for myself. I was looking for dirt paths that would be easy on my joints. Two parks I am completely in love with are Tryon Creek State Park and the Tualatin River National Wildlife Refuge. Tryon Creek has 8 miles of hiking trails, 3.5 miles of horse trails, 3 miles of biking trails, and a handicapped accessible trail. It meanders around a small stream that is in a revine, so the trails are very up and down (a great workout!) and through a lush forest. The Tualatin River National Wildlife Refuge is through a wetlands that is set aside for the migration of birds. The walk is flat but so majestic. What I love about this place, besides viewing the wildlife (which I see every time I go), is that it is set aside for the exclusive use of people on foot, walking. There are no bikes, no dogs, not even joggers. It’s extremely quiet and serene. Such a refuge to the soul in a world that is so busy and loud. I like to go early in the morning because the birds are just getting going. By mid afternoon they tend to be less evident. Heron, geese, ducks, red-wing blackbirds, nutria, on one occasion, an otter. It’s super enjoyable to see what can be seen, and it’s just a few miles from LO.

It’s all about quality of life!
Dianne

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Loving Lake Oswego

There’s something about the waning days of summer. It makes me feel like I want to slow down and make it last. Maybe a bit reflective, but in a way that is joyful and appreciative. With that state of mind, I thought I’d share with you my personal list of why I love living in Lake Oswego.

Great schools, it’s why I moved here. Looking back, now that my kids are 30 and 33 years old, it was exactly the right thing to do. They both developed a circle of friends that encourage fun but also had really solid personal good character. Their Dad and I encouraged this at home, but the community has a spirit that helps kids have good influences in their lives, and I think I begins with the good schools.

Safety. I feel really safe living here. If I arrive home after dark, I just feel fine getting out of my car and carrying groceries into the house. I didn’t feel that way in the neighborhood where I used to live.

The flower baskets. They are stunning. Driving around and about in months between Memorial Day and Labor Day is such a pleasure with the amazing flower baskets, landscaped medians and flower beds.

The lake. It’s beautiful and I see it regularly as I show property and go on my daily walks. You don’t have to live on the lake to use it. Many homes have easements, but everyone in the city limits has access to the swim park.

Great restaurants. This didn’t used to be the case about 20 years ago, but man, it is sure the case today. Where to begin? Riccardos, Gubancs, La Provence, Jefe, St Honore, Tillamook Ice Creamery, Nicolettas, Manzanna, Five Spice, there are lots of great choices!

Always a Starbucks nearby. I’ve got 4 within walking distance of my house.

Great walking. I used to run, but these days I’m a walker. Short walks are amazing through the beautiful neighborhoods. One of my regular walks is about 3 miles long and right smack dab in the middle is a panoramic view of the lake. One of my long walks, I’ve done it so many times, is around the lake. From my house it’s a nine mile loop. What I like about it, besides the great views, is that it has so much variety of hills and flat stretches. It’s never boring.

Festival of the Arts in June and the Gallery Without Walls. I love art!

The Lakewood Theater. I love theater!

The community. I moved from SE Portland. I never felt the neighborliness that I feel in LO. I think that’s because it still pretty much a small town. We may be in a huge metro area, but we are our own unique community. I’ve found it to be very welcoming and friendly.

My list is getting long!

I’m going to end with a shout out to the Parks and Rec department (great, fun stuff to do), the LO Library (I use it a lot), and finally, the Willamette River (where I enjoy summer concerts at Foothills Park, put my kayak in at George Roger’s Park, and take more beautiful walks).

That’s my list. I may have moved here for the schools 20 years ago, but I feel like it is a gift that I gave to myself. I love living in Lake Oswego.

As always, thanks for reading.
Dianne

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News & Notes ~ July 2019 Numbers

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

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

  • There were 3,966  New Listings in July 2019 which was down 8.0%  from July of 2018’s 4,312, and  7.4% from the previous month/June’s 4,281.
  • At 2,994 July 2019’s Closed Sales were up 7.6% over July 2018’s 2,786, and  increased 6.8% over the previous month/June 2019’s total of 2,756. ***This was the strongest July for Closings since 2015 when the total was 3452.
  • July 2019’s Pending Sales (accepted offers), at 2,998 were down  2.4% from July of 2018’s 3,071, and down 2.8% from the previous month/June 2019’s total of  3,083.
  • The Average Sale Price in July 2019 of $466,000 rose about $11,000 over last year/July 2018’s $455,100, and was down $6,700 from the previous month/June 2019’s $472,700.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in July 2019 of $411,600 was up from last year/July 2018’s $401,600 by $18,400, and down $8,400 from the previous month/June 2019’s $420,000 .   

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

  • North Portland:  $406,300             -0.3%   (June $417,900)
    •                                                     YTD Median: $405,000
  • NE Portland:  $499,200                   1.3%   (June $491,500)
    •                                                     YTD Median: $429,700
  • SE Portland:  $424,200                   2.7%   (June $434,700)
    •                                                     YTD Median: $375,000
  • Gresham/Troutdale:   $373,200     5.5%   (June $374,900)
    •                                                     YTD Median: $353,500
  • Milwaukie/Clackamas:  $452,500  3.9%   (June $484,200)
    •                                                     YTD Median: $417,000
  • Oregon City/Canby:   $446,600      5.1%   (June $460,900)
    •                                                     YTD Median: $415,000
  • Lake Oswego/West Linn:$681,000 0.6%   (June $702,000)
    •                                                      YTD Median: $585,500
  • West Portland:    $587,800             1.5%   (June $611,000)
    •                                                     YTD Median: $524,900
  • NW Wash County:  $557,800         -1.8%   (June $535,000 )
    •                                                      YTD Median: $515,000
  • Beaverton/Aloha:     $411,100       6.3%   (June $411,100)
    •                                                     YTD Median: $390,000
  • Tigard/Wilsonville:   $492,600        2.8%   (June $472,800 )
    •                                                      YTD Median: $440,000
  • Hillsboro/Forest Grove: $423,300  3.5%   (June $433,200)
    •                                                      YTD Median: $380,000

LAKE OSWEGO:

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

    •  451 Active Listings  (June 468)
    •  226 New Listings     (June 230)
    •  187 Pending Sales   (June 170)
    •  170 Closed Sales      (June 166)
    • Average Sale Price for June: $681,000  (May $702,600)
      • 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.
    •  62 Average Days on the Market   (June 79)

 

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2019 Street of Dreams

Last week I enjoyed Realtor day at the Street of Dreams. This years show is in Wilsonville, a really nice location that easily supports these home values. I always like to look for trends. Last year my big take away was textured walls and tile. This year several things stood out for me as well.

*Sliding barn-style doors are still really popular. One house has a set of two that come together to form the corner of the room. Very cool

*Chrome and nickel finishes were nowhere to be seen. It was all either matted black or brushed brass

*Lots of wall paper that looked like it was straight out of my parents house from the 1970s.

*Amazing light fixtures! Some from repurposed items like bottles and pulleys, but also really cool geometric shapes

*One house had old-fashioned painted brick. What’s old is new again.

*Sinks continue to be very inspiring with several homes that had one huge sink that served two faucets.

Hands down my favorite house was “Farm to Table” built by Renaissance Homes. The kitchen had a secondary kitchen designed to serve the back patio (this in addition to the kitchen on the back patio), a pantry, an amazing utility room with an island and massive amounts of storage, and, topping it off, a she-shed in the back yard! This house is just the sort of layout that a family that loves to cook and to entertain dreams of.

The show runs through August. Prices range from about 1.2 to 1.9 million.

Enjoy!
Dianne

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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)