Category: General

All About Lake Oswego, Oregon real estate topics

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Market Activity Report Aug 29th – Sept 04th, 2016

Hello everybody, I hope the start of the school year went smooth for everybody. And if you are like me, and don’t have to deal with school, then I hope that the end of summer has gone good none-the-less. There are 23 new houses on the market, 21 pending properties, and 17 sold homes.

I couldn’t help but notice that a lot of condos have gone for sale on 1st ST! It makes me curious to check out the area!

Following is the breakdown for you according to RMLS:

New on the Market (Aug 29- Sept 04, 2016)

Address Type Price Bedrooms Bathrooms Sqft
354 CERVANTES CIR 1-C CONDO 158,000 2 1.5 912
18644 SW KRISTI WAY DETACHED 349,950 2 2 1346
6 SUMMIT RIDGE CT ATTACHED 399,000 2 2.5 1750
9 ORIOLE LN DETACHED 399,830 3 3 1928
261 ASH ST DETACHED 499,900 3 2 1788
652 1ST ST CONDO 659,000 2 2.5 1986
672 1st ST CONDO 659,000 2 2.5 1986
17533 ERIN CT DETACHED 669,000 3 2.5 2943
654 1st ST CONDO 689,000 2 2.5 2140
3195 EDGEMONT RD DETACHED 699,000 3 2 1858
674 1st ST CONDO 699,000 2 2.5 2140
5037 PARKHILL ST DETACHED 729,000 4 2.5 3157
670 1st ST CONDO 899,000 3 2.5 2767
650 1st ST CONDO 899,000 3 2.5 2767
2639 PALISADES CREST DR DETACHED 948,000 5 3 5615
13079 AMBER PL DETACHED 948,000 5 3 3200
15501 DIAMOND HEAD RD DETACHED 995,000 4 3 2353
14530 UPLANDS DR DETACHED 1,230,000 4 3.5 4080
18296 MEADOWLARK LN DETACHED 1,715,000 5 3.5 5769
1976 HIGHLANDS LOOP DETACHED 1,795,000 4 3.5 4597
129 FURNACE ST CONDO 1,849,900 4 4.5 4911
1940 HIGHLANDS LOOP DETACHED 1,898,000 5 5.5 4080
16 DOVER WAY DETACHED 1,998,000 5 5.5 7475

Pending Sales (Aug 29- Sept 04, 2016)

Address Type Price Bedroom Bathrooms DOM
11 CRESTFIELD CT CONDO 129,500 1 1 3
44 EAGLE CREST DR CONDO 134,900 1 1 51
4628 LOWER DR CONDO 149,999 2 1.5 3
4000 CARMAN DR CONDO 169,900 1 1 5
71 OSWEGO SUMMIT CONDO 217,500 2 2 2
18 KINGSGATE RD DETACHED 399,900 3 2 4
14392 SHERBROOK PL DETACHED 446,000 3 2.5 4
19080 INDIAN SPRINGS CIR DETACHED 450,000 3 2 4
3351 FIR RIDGE RD DETACHED 469,000 3 2 2
3200 UPPER DETACHED 499,999 4 3 2
4960 CENTERWOOD ST DETACHED 509,000 3 2 77
4050 VIRGINIA WAY DETACHED 524,500 3 2 1
18 GROUSE TER DETACHED 549,900 4 2 82
9 SPINOSA DETACHED 595,000 2 2.5 11
32 WILBUR ST CONDO 635,000 2 2.5 5
4079 COLTSFOOT LN DETACHED 699,900 4 4 397
18183 WESTMINSTER DR DETACHED 720,000 3 2.5 57
2931 ORCHARD HILL PL DETACHED 739,100 4 2.5 100
5435 WESTFIELD DETACHED 749,900 4 3 32
4328 LORDS LN DETACHED 749,995 3 3 3
2484 MARYLSHIRE LN DETACHED 799,000 4 3.5 64

Sold/Closed(Aug 29- Sept 04, 2016)

Address Type List Price Close Price Sqft DOM
4 TOUCHSTONE DR CONDO 136,000 132,000 1351 26
3974 CARMAN DR CONDO 229,900 229,900 1107 31
16250 PACIFIC HWY #76 CONDO 299,900 295,000 1767 9
4455 GOLDEN LN CONDO 309,000 295,000 1705 71
12842 BOONES FERRY RD CONDO 345,000 321,500 1136 98
300 LAKE BAY CT DETACHED 475,000 452,000 1480 88
16041 WALUGA DR DETACHED 454,900 452,000 1982 8
18927 INDIAN CREEK AVE DETACHED 500,000 465,000 2394 27
532 2ND ST CONDO 469,900 465,000 1395 14
1419 HEMLOCK ST DETACHED 500,000 500,000 2520 28
3100 WEMBLEY PARK RD DETACHED 625,000 625,000 3060 339
13040 PRINCETON CT DETACHED 674,900 650,000 3135 32
4090 BUCK BRUSH LN DETACHED 699,000 705,000 3128 5
621 COUNTRY CLUB RD DETACHED 825,000 805,000 3385 160
884 CEDAR ST DETACHED 995,000 995,000 3120 102
356 9th ST DETACHED 1,480,000 1,230,000 3647 101
12850 FIELDING DETACHED 2,500,000 3,240,844 19444 25

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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Appraisal Crisis in Full Blown

photoWe have a crisis happening in the real estate market right now. No, you probably haven’t heard about it in the news, but you certainly may experience it if you are buying or selling a home in the Portland Metro area right now.

Here’s the back story. As robust as the market currently is, it was only a few years ago that we were in a mega recession. The mortgage lending industry tanked and the Federal government did a big over haul of the industry to prevent a similar catastrophe from happening again. In the fix was an effort to separate appraisers from lenders. There was a perception, and in many cases it was completely valid with both mortgage brokers and appraisers serving jail time, that a mortgage broker and an appraiser could falsify values in order to profit. To prevent this from happening appraisers were taken out of the lenders employment and control. All appraisals are now sent to Appraisal Management Companies (AMC). These are 3rd party companies who offer the appraisal request to their group of appraisers. So the lender does not know or have any communication with who will be doing the appraisal. It goes even further. A mortgage loan officer can not communicate with the appraiser at all.

Further challenging getting an appraisal done is the fact that the requirements to become an appraiser have gotten more stringent. Foremost among this is the requirement that an appraiser work as an apprentice under an experienced appraiser for 1-2 years before they are able to obtain full licensing and the ability to work independently. This is a burden for appraisers who are already swamped by their volume of work. It is hard for aspiring appraisers to find a mentor to apprentice with.

During the recession when the housing market slowed to a crawl many appraisers simply left the industry because it was hard to make a decent living.

Fast forward to today. We are in a housing boom. Portland is one of the hottest real estate markets in the entire country. The volume of houses being sold is tremendous, as is the market to refinance existing mortgages to lower interest rates. All of this means that just as the market has heated up, the appraisers needed to meet the demand simply do not exist.

I have been a realtor for almost 30 years. In all but the last year the normal turn around time for an appraisal has been 2-3 weeks. This allowed for an expected escrow period of 30-45 days. This issue with the shortage of appraisers is making the turn around time much, much longer. I think right now it is averaging 3-4 weeks. This in turn is making the escrow period 45-60 days.

This is taking away a major leveraging point for buyers competing to buy homes in this hot market. No longer can a buyer confidently say that they can do a quick close, which most sellers love. The buyer simply does not have the ability to promise a quick close. If a buyer is representing that they can, working as a seller’s agent I would be a bit dubious. I certainly would not discourage the buyer’s effort to do so. But I would counsel my seller client to be prepared mentally for the possibility of the closing being delayed by the appraisal.

A 45-60 day escrow period is actually a best case scenario. There are many, many transactions that are experiencing delays well beyond this. If the property is unusual the appraisal request may languish at an AMC with no appraiser choosing to do it. I have had a transaction where this was the case. The property was in an unusual location that was a mix of residential and commercial use. When an appraiser finally offered to take the assignment we were told it would take 2 months to complete and cost $2200!

I see a couple of things that need to be addressed. First, the shortage of appraisers will, I hope, be attractive to people who want good employment. It would be a great field to go into right now. Second, I predict that the cost of an appraisal will be going up. The old law of supply and demand should kick in. Bear in mind that the cost of an appraisal has been about $500 for decades. An increase in the cost seems likely. I just hope it is only by a few hundred dollars.

This entire issue will all settle out eventually. You can still buy or sell a house, just be aware that this issue is occurring and don’t stress about it.

I want to wish you a safe and fun holiday weekend,
Dianne

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Market Activity ~ Aug 15-21, 2016

Last week we saw 19 New properties enter the market, 24 move to Pending status, and 16 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Aug 15-21, 2016)

Address List Price # Beds # Baths Total SF Prop Type
38 GREENRIDGE CT $365,000 3 2.1 1996 ATTACHD
4214 WOODSIDE CIR $369,000 3 2.1 1841 ATTACHD
35 BLOCH TER $400,000 3 2.1 1987 ATTACHD
4291 COLLINS WAY $405,000 3 2 1482 DETACHD
4752 REMBRANDT LN $439,900 3 2.1 1655 DETACHD
937 COUNTRY CLUB RD $524,900 3 1 1715 DETACHD
2565 BREE CT $639,900 3 2.1 2967 DETACHD
17225 GREENTREE AVE $695,000 4 3 2718 DETACHD
17465 UPPER CHERRY LN $695,000 4 3 3856 DETACHD
4164 MELISSA DR $759,000 4 2.1 2650 DETACHD
17700 LEAFY LN $779,500 4 2.1 3666 DETACHD
14867 TWIN FIR CT $799,000 5 3.1 3641 DETACHD
18171 BRYANT RD $799,000 3 0.2 2984 DETACHD
17867 SUNDOWN CT $849,900 3 3.1 2765 DETACHD
4176 UPPER DR $869,000 4 3 2938 DETACHD
515 10TH ST $1,200,000 3 2.1 2821 DETACHD
462 9TH ST $1,390,000 5 3.1 4377 DETACHD
333 NORTHSHORE RD $3,597,500 4 4.1 5150 DETACHD
919 WESTPOINT RD $4,600,000 4 4 4795 DETACHD

PENDING SALES (Aug 15-21, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4000 CARMAN DR #A10 $169,900 2 2 836 CONDO 5
169 OSWEGO SMT #169 $199,999 2 2 1383 CONDO 123
217 CERVANTES / Lower $219,000 2 1.1 1204 CONDO 9
219 CERVANTES $220,000 2 2 1100 CONDO 44
54 GALEN ST / Upper $229,900 2 2 995 CONDO 32
15460 BRIANNE CT $320,000 2 2.1 1250 ATTACHD 3
5228 BONITA RD $349,900 4 2.1 2200 DETACHD 3
5432 KENNY ST $379,900 3 1 1352 DETACHD 20
668 MCVEY AVE #52 $450,000 3 1.1 992 CONDO 116
2395 GREENTREE RD $539,000 4 2.1 2832 DETACHD 17
350 6TH ST $539,900 4 2 2304 DETACHD 36
1920 PARK FOREST AVE $575,000 3 3 2679 DETACHD 7
2600 PARK RD $624,900 3 3 2240 DETACHD 5
29 HILLSHIRE DR $799,000 3 2.1 4638 DETACHD 0
2329 STONEHURST CT $825,000 4 3 3622 DETACHD 23
1172 TROON RD $827,500 5 3.1 2504 DETACHD 103
17432 KELOK RD $1,025,000 3 2.1 2884 DETACHD 33
527 10TH ST $1,150,000 4 3.1 2677 DETACHD 62
721 7TH ST $1,249,000 4 3.1 4544 DETACHD 42
629 5TH ST $1,299,000 4 2.1 2985 DETACHD 53
13012 KNAUS RD $1,825,000 4 3.2 4796 DETACHD 49
12740 FIELDING RD $2,100,000 4 2.1 3453 DETACHD 111
12850 FIELDING RD $2,500,000 9 9.2 19444 DETACHD 25
1193 FAIRWAY RD $2,998,000 5 4.2 7028 DETACHD 987

SOLD (Aug 15-21, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
1774 RIDGECREST DR $125,000 $1,240,000 2 2 2053 DETACHD 6
79 OSWEGO Summit #79 $199,900 $200,000 2 2 1212 CONDO 3
1652 BONNIEBRAE DR $279,900 $257,000 3 1.1 1303 ATTACHD 11
5495 TREE ST $355,000 $355,000 3 1.1 1388 DETACHD 3
4841 SW DAWN ST $425,000 $435,000 3 2 1550 DETACHD 6
438 ASH ST $439,900 $450,000 4 3 2372 DETACHD 3
2132 GOODALL CT $566,500 $580,000 4 3 2577 DETACHD 4
5028 GREENSBOROUGH CT $569,900 $485,000 4 2.1 2358 DETACHD 43
6 WALKING WOODS DR $575,000 $550,000 4 2.1 2870 DETACHD 54
12140 ORCHARD HILL WAY $644,000 $645,000 4 2.1 3169 DETACHD 8
2 WALKING WOODS DR $649,900 $629,950 4 3 4116 DETACHD 76
3718 RIVERS EDGE DR $739,000 $739,000 4 2.1 2512 DETACHD 9
603 ATWATER RD $768,000 $750,000 5 3.1 3430 DETACHD 10
13596 STREAMSIDE DR $788,000 $740,000 4 2.1 3430 DETACHD 55
1175 CHERRY CIR $1,488,500 $1,275,000 6 4.1 6300 DETACHD 367
3130 DOUGLAS CIR $1,499,999 $1,499,999 4 3.1 3970 DETACHD 4

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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Market Activity Report August 8th – 14th, 2016

We’ve had a busy week!
24 new listings, 17 pending, and 21 sold!

Looks like the market has been pretty consistent. However, with school starting we may start to see a dip in activity. I knew a few of my friends are looking to buy homes in Lake Oswego, and may be encouraged to really start looking if they feel like there isn’t as much competition. Having been working with buyers as of late, I completely understand the thought process here.

Following is the breakdown for you according to RMLS:

New on the Market (August 8th-14th, 2016)

Address Type Price Bedrooms Bathrooms Sqft
4919 LAKEVIEW BLVD CONDO 129,000 1 1 753
221 CERVANTES CONDO 265,000 2 2.5 1240
15460 BRIANNE CT ATTATCH 320,000 2 2.5 1250
18540 KRISTI WAY DETACHED 329,950 3 1.5 1246
14372 SHERBROOK PL DETACHED 335,000 2 1.5 1216
43 ORIOLE LN DETACHED 385,000 2 2 1810
9 ORIOLE LN DETACHED 419,000 3 3 1928
13142 PETERS RD DETACHED 499,900 4 2.5 2412
72 TOUCHSTONE ST DETACHED 499,900 3 3 3908
1706 MEADOWS DR DETACHED 539,900 3 2 1698
19061 SW INDIAN CREEK AVE DETACHED 544,900 4 3 3070
1920 PARK FOREST AVE DETACHED 575,000 3 3 2679
18183 WESTMINSTER DR DETACHED 720,000 3 2.5 3191
2325 OAKHURST LN DETACHED 799,900 5 2.5 3627
18462 PIONEER CT DETACHED 819,000 5 3 3804
17170 WALL ST DETACHED 835,000 4 3.5 3446
5267 LAKEVIEW BLVD DETACHED 900,000 4 3 3454
1666 LAKE FRONT RD DETACHED 1,279,000 4 3.5 3183
19331 LORNA LN DETACHED 1,335,000 4 3.5 5070
4146 LAKEVIEW BLVD DETACHED 1,380,000 4 3.5 3279
548 RIDGEWAY RD DETACHED 1,560,000 4 3 2830
404 FAIRMOUNT RD DETACHED 1,595,000 4 3 3948
18332 MEADOWLARK LN DETACHED 1,675,000 6 5 6043
980 EVERGREEN RD DETACHED 2,280,000 5 5.5 5644

Pending Sales (August 8th-14th, 2016)

Address Type Price Bedroom Bathrooms DOM
75 GALEN ST CONDO 184,500 2 2 4
58 OSWEGO SMT CONDO 210,000 2 2 24
3932 CARMAN DR CONDO 229,900 2 2 131
2 SW MOUNTAIN CIR ATTACHED 299,000 2 1 32
1223 HEMLOCK ST DETACHED 422,500 2 1 118
18715 INDIAN CREEK DR DETACHED 529,900 3 2 118
4 ESSEX CT DETACHED 549,900 4 2 23
17901 STAFFORD RD DETACHED 599,000 3 2 103
17771 MARYLCREEK DR DETACHED 765,000 4 3.5 17
621 COUNTRY CLUB RD DETACHED 825,000 4 2.5 160
5340 GREYSTOKE DR DETACHED 875,000 3 3 443
18260 RIVER EDGE CT DETACHED 949,000 4 3.5 164
1300 ANDREWS RD DETACHED 1,190,000 5 3 60
862 CEDAR ST DETACHED 1,250,000 4 3.5 170
13060 KNAUS RD DETACHED 1,495,000 4 3.5 48
855 G AVE DETACHED 1,499,000 4 2.5 309
1098 CHANDLER RD DETACHED 1,749,000 4 3.5 432

Sold/Closed (August 8th-14th, 2016)

Address Type List Price Close Price Sqft DOM
47 EAGLE CREST DR #21 CONDO 149,000 138,800 932 767
86 CERVANTES CIR CONDO 158,000 158,000 912 1
3433 MCNARY PKWY CONDO 199,900 208,000 1208 5
750 1ST ST CONDO 279,900 265,000 1350 30
534 2ND CONDO 469,000 469,000 1394 62
528 2ND ST CONDO 489,900 489,900 1703 3
16913 CANAL CIR DETACHED 530,000 530,000 2525 0
30 MORNINGVIEW CIR DETACHED 549,000 543,000 2276 29
16921 KARA LN DETACHED 569,000 556,700 2382 31
171 GREENWOOD RD DETACHED 575,000 585,000 1610 11
300 4th ST ATTACHED 600,000 600,000 1731 0
1002 HEMLOCK ST DETACHED 624,990 617,990 1950 4
41 TOUCHSTONE DETACHED 669,900 653,000 3092 85
3540 UPPER DR DETACHED 659,900 65,500 2716 46
2331 DELLWOOD DR DETACHED 715,000 715,000 2746 4
737 COUNTRY CLUB RD DETACHED 799,900 750,000 3242 72
13366 BOONES FERRY RD DETACHED 875,000 825,000 3564 30
22 GREENWOOD RD DETACHED 850,000 825,000 2701 40
13084 AMBER PL DETACHED 1,199,099 1,150,000 3756 6
1255 CHANDLER RD DETACHED 1,400,000 1,400,000 3212 0
149 FURNACE ST DETACHED 1,688,888 1,600,000 3954 161

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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Lets talk about Pokémon Go in Lake Oswego!

At the start of this month one of the biggest smart phone crazes took place with a very popular Nintendo franchise: Pokémon. A small company by the name of Niantic took it upon themselves, with the help of Google Maps, to place Pokémon all over the world.
What does this have to do with houses in Lake Oswego?
Well a lot really: we are seeing a huge rise in foot traffic all over the neighborhood as people young and old wander around with their eyes glued to their phone, in search of these illusive little digital critters.
One major question seems to be popping up from a lot of Lake Oswego home owners: Who is doing this? And why are they putting Pokémon in my house or my back yard?
Well to answer this question I had to investigate: I downloaded the app myself and went about on my own quest to peruse catching as many Pokémon as I could in Lake Oswego (some of you probably saw me wandering around. I think the most embarrassing thing that had happened so far is that I walked into a low-hanging branch. Otherwise I’ve been pretty keen to keep an eye on my surroundings).
What I found was that, not only do Pokémon pop up just about anywhere (and randomly) but that there are a lot of little Pokémon landmarks all over our neighborhood. What once was an old piece of art, playground equipment, or even a sign that tells you to clean up after your pooch, have now become checkpoints (like geocaching) and digital combat zones (where you can compete against other players and fight your little monsters).
Another thing I have found is that Pokémon are invisible until you wander close to them. They are not tied to an exact spot, but are within a vicinity of where you are. This means that even if they are standing across the street from you, that you can engage in catching them as though they are directly in front of you.
Niantic, the company that is responsible for making this game, has made it very easy to AVOID wandering into people houses and back yards by giving your little in-game player a radius to work with, rather than expecting you to stand directly on top of were a Pokémon may be. So there really should be no excuse to have to trespass into other people’s yards. If you cannot get a Pokémon to appear from the street, chances are it won’t appear even if you trespass.
Some companies (like the Baja Fresh off of Boones Ferry Rd, or Pine Shed Ribs next to the Plaid Pantry), have had the luck of becoming poke-stops (a location point that acts as an interactive recharging station, where it is both easier to get more goodies and catch more Pokémon) and can often be found setting out lures to draw in attention from Pokémon Go players, and thus gaining a little extra business. Lures are in essence a paid bonus that you can buy from the in-game store to attach to existing poke stops, to draw more Pokemon to a location, making it easier for Pokemon Go players to hang out and catch Pokémon, rather than wander around physically.
All-in-all Pokemon Go is a very interesting, and fun, digital craze that plans to be around for a while. It provides a remarkable incentive to go on daily walks around your neighborhood, as well as goals to walk impressive distances. However, it does not encourage players to trespass! So rest assured Lake Oswego, there should be no excuse for people to wander onto your property without permission, in an effort to catch invisible critters. Though I do suggest this game for all ages!

Pokemon

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Market Activity Report July 18th – 24th, 2016

The summer continues to hustle and bustle!
26 new listings, 32 pending, 19 houses sold!
Condos continue to be a very hot item on the market! I recently visited a few up by Touchstone and Eagle Crest. Some where just lovely, but some needed some love. Never-the-less all condos seem to be going quick.

New on the Market (July 18th – 24th, 2016)

Address Type Price Bedrooms Bathrooms Sqft
193 OSWEGO SMT CONDO 235,000 2 2 1383
48 EAGLE CREST DR CONDO 250,000 2 2 1443
4325 SILVER CT CONDO 360,000 3 2.5 1844
6040 LAKEVIEW BLVD DETACHED 459,000 3 2 2390
532 2ND ST CONDO 469,900 2 2.5 1395
16287 BONAIRE AVE DETACHED 495,000 2 1 1430
13991 MAJESTIC CT DETACHED 499,900 3 2.5 1325
6244 FROST LN DETACHED 500,000 4 3.5 2304
668 MCVEY AVE #22 CONDO 500,000 3 1.5 992
4 ESSEX CT DETACHED 549,900 4 2.1 2835
6423 FROST ST DETACHED 569,000 3 2.5 2548
17486 CARDINAL DR DETACHED 575,000 5 3 2327
17 LAUREL ST DETACHED 585,000 3 1.5 3096
14555 SHERBROOK PL DETACHED 598,000 4 2.5 2942
2478 MARYLVIEW CT DETACHED 785,000 4 3 3531
19 MONTICELLO DR DETACHED 819,000 6 3 4866
820 BOCA RATAN DR DETACHED 899,900 4 3.5 2628
1601 PINE ST DETACHED 944,900 4 3.5 3711
13079 AMBER PL DETACHED 998,000 5 3 3200
1130 OAK TER DETACHED 1,049,000 4 3.5 3729
4168 CHAD DR DETACHED 1,049,900 4 3.5 3744
18820 GREENBLUFF DR DETACHED 1,475,000 4 4.5 5570
17515 BLUE HERON RD DETACHED 2,495,000 5 5.5 6314
12850 FIELDING RD DETACHED 2,500,000 9 9.5 19444
16715 PHANTOM BLUFF CT DETACHED 3,988,000 4 4.5 4585
1900 TWIN POINTS RD DETACHED 8,680,000 4 3.5 6776

Pending Sales (July 18th – 24th, 2016)

Address Type Price Bedroom Bathrooms DOM
3433 MCNARY PKWY CONDO 199,900 2 2.5 5
58 OSWEGO SMT CONDO 210,000 2 2 4
343 5th ST CONDO 249,000 2 1 27
1400 BONNIEBRAE DR CONDO 254,000 2 1 41
12824 SW BOONES FERRY RD ATTACHED 298,000 2 2.5 7
16250 PACIFIC HWY #76 CONDO 299,900 3 2 9
12842 BOONES FERRY RD CONDO 324,900 2 2.5 98
300 LAKE BAY CT DETACHED 445,000 2 1 88
2255 GREENTREE RD DETACHED 450,000 4 2.5 14
1160 OAK TER DETACHED 450,000 3 2 7
16041 WALUGA DR DETACHED 454,900 4 2 8
1190 OAK TER DETACHED 460,000 4 2 11
5850 BONITA RD DETACHED 475,000 3 2 143
495000 YARMOUTH CIR DETACHED 495,000 2 2 52
1419 HEMLOCK ST DETACHED 500,000 5 3 28
2370 GLEN HAVEN RD DETACHED 539,900 5 2.5 28
4889 HAMPTON CT DETACHED 543,000 3 2.5 4
17312 CHAPIN WAY DETACHED 559,000 3 2 5
1705 LEE ST DETACHED 699,000 4 3.5 79
17323 LAKE HAVEN DR DETACHED 699,900 3 2.5 4
727 LAUREL ST DETACHED 775,000 3 3.5 84
15468 BOONES WAY ATTACHED 800,000 4 2.5 44
1015 SHER LN DETACHED 850,000 5 3 37
412 8th ST DETACHED 899,000 3 2.5 33
18025 SARAH HILL LN DETACHED 899,900 4 3.5 6
834 6th ST DETACHED 1,099,900 4 2.5 12
1175 CHERRY CIR DETACHED 1,325,000 6 4.5 367
3118 DOUGLAS CIR DETACHED 1,339,000 3 2.5 56
149 FURNACE ST CONDO 1,688,888 3 3.5 161
13600 GOODALL RD DETACHED 2,295,000 6 6.5 44
1455 LAKE FRONT RD DETACHED 2,695,000 4 5.5 1085

Sold/Closed (July 18th – 24th, 2016)

Address Type List Price Close Price Sqft DOM
74 GALEN ST CONDO 159,000 142,464 995 43
44 EAGLE CREST DR CONDO 140,000 152,000 908 4
168800 GALEN ST CONDO 168,800 188,800 923 2
15465 SW TANAGER DR DETACHED 445,000 475,000 1535 2
18906 KRISTI WAY DETACHED 485,000 485,000 1864 2
13449 VERMEER DR DETACHED 495,000 495,000 1877 37
17763 MARDEE AVE DETACHED 519,000 545,000 2300 3
1161 UPPER DEVON LN DETACHED 575,000 574,995 2265 28
4 INDEPENDENCE AVE DETACHED 600,000 605,000 3782 6
5714 CHARLES CIR DETACHED 649,900 625,000 2401 18
8 YORICK ST DETACHED 699,900 686,000 3418 5
13528 TWIN CREEK LN DETACHED 800,000 750,000 3129 52
15964 PARKER RD DETACHED 799,900 785,000 3378 31
2331 PRESTWICK RD DETACHED 825,000 825,000 2613 0
4667 SHEPHERDS LN DETACHED 869,900 869,900 2999 31
348 5th ST DETACHED 875,000 875,000 2019 129
17436 KELOK RD DETACHED 1,050,000 1,050,000 3054 7
16828 ALDER CIR DETACHED 1,550,000 1,550,000 2362 0
2880 UPPER DR DETACHED 1,795,000 1,762,000 5634 76

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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Market Activity Report for June 27th to July 3rd, 2016

I hope everybody had a wonderful 4th of July!
The weather was just perfect for it!

Taking a look at our recent activity: there are a LOT of condos that have just sold. Looks like condos are very hot right now in LO!

Over-all we have had 29 new listings, 24 pending homes, and 26 sold!

Following is the breakdown for you according to RMLS:

New on the Market ( June 27th to July 3rd, 2016)

Address Type Price Bedrooms Bathrooms Sqft
4 TOUCHSTONE DR #108 CONDO 136,000 3 2.5 1351
219 CERVANTES CONDO 239,900 2 2 1100
1652 BONNIEBRAE DR ATTACHED 279,900 3 1.5 1303
1223 HEMLOCK ST DETACHED 422,500 2 1 748
1935 FERNWOOD DR DETACHED 515,000 4 3 2100
1935 SW REDWING CT DETACHED 549,900 4 3 2471
4920 CENTERWOOD ST DETACHED 569,000 3 3 2072
48 AQUINAS ST DETACHED 599,000 4 2 2693
17562 BLUE HERON CT DETACHED 599,950 4 3 2812
17901 STAFFORD RD DETACHED 640,000 3 2 2254
16 BECKET ST DETACHED 657,000 3 3 3203
13040 PRINCETON CT DETACHED 674,900 4 2.5 3135
32 DA VINCI ST DETACHED 679,000 5 3 3204
2063 RIDGEWOOD RD DETACHED 679,000 4 2.5 2532
5530 DUNMIRE DR DETACHED 715,000 4 3 3040
3718 RIVERS EDGE DR DETACHED 739,000 4 2.5 2512
19431 KOKANEE CT DETACHED 765,000 3 2.5 2250
17568 BLUE HERON CT DETACHED 789,000 4 3.5 3909
2484 MARYLSHIRE LN DETACHED 849,900 4 2.5 3255
2100 RIDGE POINTE DR DETACHED 875,000 5 5.5 5375
209 RIDGEWAY RD DETACHED 899,000 4 3.5 2600
151 BERWICK RD DETACHED 999,500 4 3 4387
17512 GREENBLUFF DR DETACHED 1,150,000 4 4 4033
629 5th ST DETACHED 1,385,000 4 2.5 2985
17455 RIDGEVIEW LN DETACHED 1,465,000 4 3.5 4570
13012 KNAUS RD DETACHED 1,825,000 4 3.5 4796
14733 UPLANDS DR DETACHED 2,275,000 6 5.5 7694
1455 LAKE FRONT DR DETACHED 2,695,000 4 5.5 6145

Pending Sales ( June 27th to July 3rd, 2016)

Address Type Price Bedroom Bathrooms DOM
74 GALEN ST CONDO 149,500 2 2 43
86 CERVANTES CIR #86 CONDO 158,000 2 1.5 1
14 OSWEGO SMT CONDO 165,000 2 2 6
4000 CARMAN DR #26 CONDO 189,000 2 2 3
79 OSWEGO SUMMIT #79 CONDO 199,900 2 2 3
3940 CARMAN DR CONDO 229,900 2 2.5 13
3930 CARMAN DR CONDO 229,900 2 2.5 67
16850 CORTEZ CT DETACHED 375,000 3 1.5 16
17470 HILL WAY DETACHED 398,000 3 2 4
14854 TWIN FIR RD DETACHED 415,000 3 2 19
438 ASH ST DETACHED 439,900 4 3 3
5895 BURMA RD DETACHED 440,000 4 2.5 43
18906 KRISTI WAY DETACHED 485,000 3 2 2
528 2ND ST ATTACHED 489,900 2 2.5 3
171 GREENWOOD RD DETACHED 575,000 4 2 11
19 FALSTAFF ST DETACHED 579,000 4 2.5 70
17658 BROOKHURST DR DETACHED 734,900 3 3 41
3180 WESTVIEW CIR RES-MFG 749,000 3 2.5 1
13596 STEAMSIDE DR DETACHED 758,000 4 2.5 55
13825 MELROSE PL DETACHED 765,000 5 4.5 165
12870 ELK ROCK RD DETACHED 769,000 4 3 310
348 5th ST DETACHED 875,000 3 2.5 129
3130 DOUGLAS CIR DETACHED 1,499,999 4 2.5 4
17210 CEDAR RD DETACHED 1,795,000 4 3 165

Sold/Closed ( June 27th to July 3rd, 2016)

Address Type List Price Close Price Sqft DOM
100 KERR PKWY # 37 CONDO 109,900 104,550 617 27
100 KERR PKWY #12 CONDO 115,000 113,500 617 43
65 GALEN ST CONDO 135,000 141,500 689 4
334 CERVANTES CIR ATTACHED 145,000 144,350 832 2
100 KERR PKWY #10 CONDO 150,000 149,500 823 7
3922 CARMAN DR CONDO 234,900 225,000 1137 52
4083 JEFFERSON PKWY CONDO 245,000 239,000 1210 5
241 CERVANTES CONDO 262,900 265,000 1384 0
4422 THUNDER VISTA LN CONDO 279,000 288,500 2040 61
48 EAGLE CREST DR CONDO 277,500 281,000 1550 5
11 BRITTEN CT ATTACHED 296,500 311,500 1318 3
210 S STATE ST CONDO 354,500 333,000 1614 100
19 AQUINAS ST DETACHED 479,000 497,100 2379 5
1730 YARMOUTH CIR DETACHED 519,000 514,500 1770 15
4734 LAMONT CT DETACHED 529,000 529,000 1856 1
18978 INDIAN SPRINGS RD DETACHED 529,900 529,900 2860 6
937 OAK ST DETACHED 595,000 545,000 3080 85
16545 INVERURIE RD DETACHED 569,000 606,500 2300 19
1400 HORSESHOE CURV DETACHED 679,000 679,000 2248 6
20 MONTICELLO DR DETACHED 599,900 705,000 3848 4
3560 TEMPEST DR DETACHED 675,000 705,000 2847 5
5598 LUCE LN DETACHED 798,000 790,000 3372 2
1287 BICKNER ST DETACHED 825,000 799,000 2665 6
301 IRON MOUNTAIN BLVD DETACHED 1,095,000 1,082,500 2946 32
3101 WEMBLEY PARK RD DETACHED 1,365,000 1,365,000 3820 121
1136 NORTHSHORE RD DETACHED 2,500,000 3,200,000 3698 3

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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Seismic Retrofitting

Is-Your-Home-Ready-for-an-Earthquake-Free-Eval-and-Estimate_2As part of my continuing education I attended a class this morning put on by Zach Smith of Earthquake Tech and Gemmell Construction. Living on the West coast earthquakes are something most of us are aware of. The large quakes in California are recent enough to be remembered by most of us. The 2011 quake and Tsunami in Japan directly affected our coast line (and still does with garbage washing ashore), but for the most part it seems far away and not directly important to our lives. That changed with the publication of a New Yorker article on July 20, 2015 (“The Really Big One” by Kathryn Schulz). It brought front and center the issue that the Pacific Northwest is grossly under prepared for a major earthquake.

Some back ground is needed here. There have been 41 significant quakes (we are talking huge, like 9.0) that have happened in the Cascadia Subduction Zone off of the Oregon Coast in the last 10,000 years. The major fault in this zone is the San Juan de Fuca plate which runs from Northern California to Vancouver Island. The average occurance is every 243 years. The last quake was 9.0 on January 26, 1700. So we are now 316 years into a 243 year cycle. Of course these quakes don’t occur on a specific time schedule. This is an average. Some quakes have been many hundreds of years apart and some less than a hundred. When the next quake will occur is a complete unknown. What is known is that it will happen, we just don’t know when.

koso300So, we know it will come, but what should we do about it? There are some really basic steps that are promoted as earthquake preparedness:
* Seismically retrofit your house if it is older than about 1980. If it was built since 1980 you should still have it examined to see if there is anything more that you can do. Retrofitting should include strapping your house to it’s foundation, strapping the water heater to brace it against a secure part of the house, brace your chimney, at a minimum put a shut-off wrench next to your gas meter, or better yet, install an automatic shut off valve that will engage as soon as it detects that the house is moving.
* Get earthquake insurance. Earthquake damage is not covered in standard home insurance policies. It is a rider to the policy and must be purchased separately.
* Have a supply of water that will last for enough time to provide 1 gallon of water per day for each person in the house. Different experts suggest different times to expect utilities to be down, a few days or a few weeks, store what you can manage.
* Have a supply of non-perishable food
* Have earthquake preparedness kits in your home, your car, and your office. Don’t forget supplies for your pets.

Juan.de_.Fuca_1I think the big question is how much does it cost to retrofit a house. I was surprised this morning to learn that on average it runs $2000-$8000 for homes built from the turn of the Century to the 1970’s. The cost is dependent upon how big the house is and the condition of the foundation. If the house has a bad foundation (Zach referred to brick foundations a “standing rubble”) then the cost goes up significantly in the range of $50,000-$200,000. I felt encouraged that the average house can be done for under 10K.

I was extremely impressed with Zach’s presentation this morning. If your home is within the metro area he will come and give you an estimate at no charge. For information on Earthquake Tech click here.

I also want to give a shout out to Jay Kushner of Seismic Technologies. I have been referring clients to Jay for years. He is knowledgeable and a tremendous resource for assessment of the seismic preparedness of homes. For his information click here.

Let’s hope we never have The Big One happens in our life times, but let’s also be aware and pro-active so that if it does, we have the best chances possible for our homes and for our families.
Dianne

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What Color Should I Paint My Home?

Paint 1I just got done with my own house-painting project, and didn’t think it would take as much of my time or thought process as it did!  Being in this business, you’d think I’d sail right through that one, and/but when it is your own home, its always a different experience. There are lots of things to think about. Color is the first one.  I gave myself weeks of driving around and consciously looking at homes and trying to picture myself coming home to that color.  As time went on, I noticed that I was attracted to a particular color combination which I had used on a previous home. I had really wanted to try something new, but in the end, the color combo I chose is what made ME feel that “home” feeling.

Here are a few things that came up for me, and that you might find helpful:

  • You’ll want to think about how many colors to employ. Some people use one color for the main body of the home, another for the basement (if there is one) and another for eves or dormers or other accent features. Others use one color for the whole body.  If your home is small, consider that it may look larger if you avoid visually chopping it up by, for instance, painting the basement a different color. If it is a larger home, a little contrast may be nice. Also, remember the porch.
  • If you have a comp roof, what color is it?  Take that into consideration as you contemplate complimentary color schemes.
  • If you are selling your home, talk to your Realtor and/or the paint store about popular colors. Its wise to stay neutral, and/but you don’t want to be boring!
  • Walk around your neighborhood. Take a look at the colors on the block. It may inform you as to what will be appealing from the street.  You don’t want three dark grey w/white trim houses right next to each other…
  • I was advised (and it turned out to be true) that the color will show up a little lighter on the walls than it looks inside the paint store.
  • In addition… I’ll share a little superstition with you that I find charming. Many believe that it is a good idea to paint the underside of your porch’s ceiling blue.  It is considered Good Luck. You can Google it & find out more. Bottom line? I like Good Luck (I don’t see a downside : )  I am loving my blue ceiling on the porch.
  • Many people use more than one color on the trimwork & windows.  As in beige with black accents, green with beige accents.  If you are going for contrast and/or just like white trim, most professionals will tell you to use an off-white as it shows wear (and dirt) less.
  • Consider paint quality and your priorities.  If you are staying in your home for the long-term, you may choose a higher-quality paint (I did ). It wears longer and means you won’t likely need to paint for many years to come. If you are selling your home and spending money on multiple projects, you may want to choose a standard paint. Most reputable paint companies have great quality standard paints that last a long time!
  • Ask for referrals from friends and/or your Realtor when you choose a painter. You want someone who knows what they are doing and is responsible, licensed and bonded. I’d advise getting three bids.  I found there to be a wide variety of pricing and professionalism.
  • Lastly… Make sure YOU are happy with your color choice. Don’t let anyone talk you into something that doesn’t feel like “home” to you.
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Market Activity Report May 23rd to May 29th, 2016

Gosh is it hot! Summer is excited to be here! The real estate market in Lake Oswego continues to be strong, with 23 new listings, 27 pending properties, and 17 sold homes.
I noticed a lot of houses above the 1 mil mark this time around. We have some beautiful and extravagant homes available for those looking to live in luxurious Lake Oswego.

Following is the breakdown for you according to RMLS:

New on the Market (May 23-29, 2016)

Address Type Price Bedrooms Bathrooms Sqft
100 KERR PKWY #37 CONDO 109,900 1 1 617
4 TOUCHSTONE #90 CONDO 199,000 3 2.5 1351
61 OSWEGO SMT #61 CONDO 215,000 2 2 1212
4974 SUNTREE LN ATTACHED 429,950 2 2.5 1,652
1730 YARMOUTH CIR DETACHED 519,000 2 2 1770
2350 SOUTH SHORE BLVD DETACHED 530,000 3 2.5 2174
30 MORNING VIEW CIR DETACHED 549,000 4 3 2276
13930 MAJESTIC CT DETACHED 579,000 3 2.5 2956
18521 WAXWING CIR DETACHED 625,000 3 2.5 2936
4801 WILDWOOD ST DETACHED 549,950 4 3 2963
2931 ORCHARD HILL PL DETACHED 785,100 4 2.5 3108
16060 WHITE OAKS DR DETACHED 825,000 4 3.5 3420
13366 BOONES FERRY RD DETACHED 875,000 4 2.5 3564
1235 ANDREWS RD DETACHED 898,800 3 2 2506
17951 MEADOWLARK LN DETACHED 1,299,000 4 3.5 5065
18060 MEADOWLARK LN DETACHED 1,300,000 4 3.5 4659
3118 DOUGLAS CIR DETACHED 1,339,000 3 2.5 3570
2786 GLENMORRIE DR DETACHED 1,500,000 5 4.5 6095
15365 TWIN FIR RD DETACHED 1,500,000 5 3.5 4974
13750 KNAUS RD DETACHED 1,595,000 5 4 4773
980 EVERGREEN RD DETACHED 2,280,000 5 5.5 5644
1193 FAIRWAY RD DETACHED 2,998,000 5 4.5 7028
16865 GREENBRIER RD DETACHED 3,199,897 5 5 6237

Pending Sales (May 23-29, 2016)

Address Type Price Bedroom Bathrooms DOM
566 S STATE ST CONDO 209,900 1 1 2
3922 CARMAN DR CONDO 229,900 2 2.5 52
3929 CARMAN DR CONDO 229,900 2 2.5 31
4083 JEFFERSON PKWY CONDO 245,000 2 2.5 5
206 OSWEGO SMT CONDO 249,000 2 2 9
15490 BRIANNE CT ATTACHED 315,000 2 2.5 18
1225 CORNELL ST CONDO 329,900 3 2 118
4300 SILVER CT CONDO 399,900 3 3.5 2
18547 TIMBERGROVE CT DETACHED 439,900 4 2 7
13278 VERMEER DR DETACHED 469,900 3 2.5 8
4199 FRUITWOOD CT DETACHED 535,000 3 2 6
32 SPINOSA DETACHED 549,500 4 3.5 8
16545 INVERURIE RD DETACHED 569,000 4 3 19
5581 YORKSHIRE PL DETACHED 575,000 4 2.5 1
4231 SUNSET DR DETACHED 599,000 4 2 18
4070 WESTBAY RD DETACHED 649,000 3 2 105
1837 CEDAR CT DETACHED 649,900 4 3 3
2 SW CARMAN DR DETACHED 750,000 3 2.5 265
18573 WESTVIEW DR DETACHED 790,000 3 3 0
5598 LUCE LN DETACHED 798,000 3 3 2
1623 GLENMORRIE DR DETACHED 850,000 4 4.5 23
4667 SHEPHERDS LN DETACHED 869,900 4 3 31
454 9th ST DETACHED 1,198,000 3 4 25
13800 KNAUS RD DETACHED 1,995,000 5 3.5 42
1617 LAKE FRONT RD DETACHED 3,250,000 4 4.5 6
7 PEACOCK PL DETACHED 400,000 3 2.5 4
19505 OLSON AVE DETACHED 714,500 5 2.5 54

Sold/Closed (May 23-29, 2016)

Address Type List Price Close Price Sqft DOM
45 CRESTFIELD CT CONDO 165,000 165,000 923 0
16250 PACIFIC HWY CONDO 265,000 265,000 1305 14
154 RIDGEWAY RD CONDO 275,000 295,000 1791 4
456 5th ST CONDO 336,900 342,000 1092 5
16748 LAKE FOREST BLVD DETACHED 325,000 355,000 1076 4
1402 PARRISH ST CONDO 379,000 367,000 1862 46
2488 DEVONSHIRE DR ATTACHED 399,900 410,000 1647 4
18630 KRISTI WAY DETACHED 399,900 435,000 1743 2
15911 FIR GROVE CT DETACHED 585,000 603,500 2584 4
18386 DEERBRUSH AVE DETACHED 639,000 625,000 2420 25
17890 ROYCE WAY DETACHED 664,000 625,000 3134 60
313 3RD ST ATTACHED 639,900 650,000 1962 11
187 FURNACE ST DETACHED 724,900 725,000 1927 0
16633 WOODSMAN CT DETACHED 899,000 835,000 4131 239
14380 UPLANDS DR DETACHED 1,150,000 1,089,500 2996 7
4018 COHO LN DETACHED 1,199,000 1,199,000 5128 47

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.