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All About Lake Oswego, Oregon real estate topics

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Market Activity ~ Apr 20-Apr 26, 2015

Oh gosh this is coming out so late, I greatly apologize for missing this week. But to make it up to you all I will post it now so that we can get a move on!

During the week of April 20 through the 26th we saw 14 new listings, 23 listings went pending, and 16 sold! What an exciting week! I am so sorry I missed it!

Following is the breakdown for you according to RMLS for last week:

NEW on Mkt (Apr 20- Apr 26, 2015)

Address Type Price Bedrooms Bathrooms Sqft
750 1ST ST #32 CONDO 165,500 1 1 986
200 BURNHAM RD #300 CONDO 189,900 1 1 973
5860 LAKEVIEW BLVD DETACHED 289,900 2 1.5 1435
7 HIDALGO ST DETACHED 449,900 3 2.5 2408
5221 ROSEWOOD ST DETACHED 469,000 3 2.5 2226
6155 FROST LN DETACHED 488,900 4 2.5 2364
27 DA VINCI ST DETACHED 497,500 4 3 2820
2550 GREENTREE RD DETACHED 499,000 4 3 2852
147 DEL PRADO ST DETACHED 549,000 3 3 2790
8 HIDALGO ST DETACHED 599,900 4 3.5 3123
14036 MAJESTIC CT DETACHED 779,000 6 3.5 4995
18522 ANDUIN TER DETACHED 998,750 5 4.5 5196
16645 GRAEF CIR DETACHED 1,549,000 4 4.5 3075
642 IRON MOUNTAIN BLVD DETACHED 1,695,000 3 2.5 4575

PENDING SALES (Apr 20- Apr 26, 2015)

Address Type Price Bedroom Bathrooms DOM
15 OSWEGO SMT #15 CONDO 106,000 2 2 373
44 CERVANTES CIR #44 CONDO 132,500 2 1.5 21
44 EAGLE CREST DR #39 CONDO 139,900 2 2 11
16250 PACIFIC HWY #67 CONDO 144,900 1 1 45
566 S STATE ST CONDO 159,000 1 1 4
4 TOUCHSTONE #78 CONDO 164,900 3 2.5 151
115 TOUCHSTONE TER ATTACHED 329,900 4 2.5 24
13985 SUNDELEAF DR DETACHED 359,990 3 2 8
5364 ROSEWOOD ST DETACHED 436,000 4 2.5 28
6310 ALYSSA TER DETACHED 439,950 4 2.5 80
13431 VERMEER DER DETACHED 499,000 3 2.5 9
5020 HAMPTON CT DETACHED 588,000 3 2.5 182
3009 WEMBLEY PARK RD DETACHED 598,900 4 2.5 122
4263 SUNSET DR DETACHED 625,000 3 2.5 3
5157 WOODHURST PL DETACHED 649,900 4 2.5 33
17583 SHEPHERDS CT DETACHED 774,900 4 3 47
17656 WOODHURST PL DETACHED 799,000 4 2.5 51
3180 WESTVIEW CT DETACHED 875,000 5 3.5 14
1821 OAK ST DETACHED 899,000 4 3.5 12
717 5TH ST DETACHED 995,000 4 2.5 0
701 4TH ST DETACHED 1,030,000 3 2.5 3
17335 KELOK RD DETACHED 1,039,000 4 3.5 48
14536 PFEIFER DR DETACHED 1,200,000 3 3.5 131

SOLD  (Apr 20- Apr 26, 2015)

Address Type List Price Close Price Sqft DOM
3433 MCNARY PKWY #208 CONDO 150,000 138,000 1008 8
4000 CARMAN DR A17 CONDO 169,900 171,200 1100 19
115472 BRIANNE CT ATTACHED 269,000 268,000 1208 2
18660 DON LEE WAY DETACHED 284,900 270,000 946 206
4670 LOWER DR DETACHED 414,900 374,900 1587 154
4909 LOWER DR DETACHED 425,000 413,500 1992 72
578 2ND ST #6 CONDO 425,000 415,000 1394 62
1990 GREENTREE RD DETACHED 479,900 457,200 2100 11
17680 BLUE HERON WAY DETACHED 649,900 525,000 2363 174
11 JUAREZ ST DETACHED 550,000 525,000 2600 5
13906 MAJESTIC CT DETACHED 530,000 540,000 2827 6
13819 PROVINCIAL HILL DR DETACHED 599,900 550,000 2096 24
4070 VIRGINIA WAY DETACHED 747,500 730,000 3510 44
18253 SIENA DR DETACHED 1,198,000 1,160,000 4310 25
18218 MEADOWLARK LN DETACHED 1,695,000 1,450,000 8320 787
1867 HIGHLAND LOOP DETACHED 1,998,000 1,900,000 5185 57

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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News & Notes

 

l-lake-oswego-mansion

 

 

The most recent real estate numbers for Portland and the Lake Oswego/West Linn areas (RMLS lumps them together) are available.

According to the RMLS Market Action Report for the Portland Metro Area, March, 2015:

  • There were 3,596 New Listings in March which was up a full 24.7% from last month/February! and up 16.4% from March of 2014.
  • At 2,457 March Closed Sales increased a whopping 49.1% over February! and were up  32.3% from March of 2014.
  • March Pending Sales (accepted offers), at 3,384, was the strongest since 2006. Up… 33.5%  from February AND March of 2014.
  •  The Average Sale Price in March of $337,200 was up $9,200. from February’s Average of $328,000, and almost exactly the same from March of 2014’s $328,100. 

The combined areas of Lake Oswego and West Linn  for the month of March 2015 reported:

    • 373 Active Listings  (360 in Feb)
    • 209 New Listings    (198 in Feb)
    • 174 Pending Sales    (149 in Feb)
    • 130 Closed Sales   (86 in Feb)
    • Average Sale Price for March of $475,900.  ($518,300 in Feb)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can scew 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.
    • Average Time on the Market: 104 Days  (100 in Feb)
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Market Activity for March 30 – April 05, 2015

Hello everyone!
Things are moving quickly this spring. The beautiful weather is finally here (as well as the occasional spring monsoons), which has brought lots of activity in the market. This last week we saw fourteen new homes come up for sale, thirty two have started pending, and twenty three homes sold! This tells us that the houses that are now entering the market are less than HALF those that have gotten offers, the inventory can just barely keep up with the demand!

Following is the breakdown for you according to RMLS:

New on the Market (March 30- April 05, 2015, 2015)

Address Type Price Bedrooms Bathrooms Sqft
44 CERVANTES CIR #44 CONDO 132,500 2 1.5 912
16250 PACIFIC HWY #82 CONDO 150,000 1 1 841
3892 BOTTICELLI ST CONDO 235,000 3 2 1288
1268 SPRUCE ST DETACHED 399,000 3 2 2009
6461 SW EDGEWOOD ST DETACHED 399,900 4 2.5 1950
17833 HILLSIDE WAY DETACHED 589,000 4 3 2668
4848 LOWER DR DETACHED 599,900 4 3 2548
15 NANSEN SMT DETACHED 685,000 3 2.5 3098
1511 WOODLAND TER DETACHED 725,000 5 2.5 3439
13060 SW ELK ROCK RD DETACHED 825,000 5 3 3681
1901 SUMMIT DR DETACHED 899,000 4 3.5 3444
1411 LAKE FRONT RD DETACHED 1,395,000 3 4 3349
3140 DOUGLAS CIR DETACHED 1,395,000 4 3.5 4333
1345 CHANDLER RD DETACHED 2,695,000 5 4.5 6800

Pending Sales (March 30-April 05, 2015)

Address Type Price Bedroom Bathrooms Sqft DOM
100 KERR PKWY #52 CONDO 105,000 1 1 617 5
4000 CARMAN DR A17 CONDO 169,900 2 2 1100 19
5225 JEAN RD CONDO 170,000 2 2 1100 10
16250 PACIFIC HWY #45 CONDO 179,990 2 2 1311 71
3970 SW CARMAN DR CONDO 219,900 2 2.5 1129 8
48 EAGLE CREST DR 1A CONDO 250,000 3 2.5 1550 76
5062 FOOTHILLS DR H CONDO 250,000 3 2 1252 5
16742 BONAIRE AVE DETACHED 289,900 3 2 1464 3
3 CONDOLEA DR CONDO 299,000 3 3 2198 146
668 MCVEY AVE #72 CONDO 325,000 3 1.5 1184 2
9 CONDOLEA DR CONDO 380,000 3 3 2198 39
321 CERVANTES CONDO 385,000 3 2.5 2474 205
1689 MEADOWS DR DETACHED 394,500 2 2 2370 23
19060 INDIAN SPRINGS CIR DETACHED 435,000 4 3 2182 26
3 EL GRECO ST DETACHED 439,500 2 2 2370 2
4711 REMBRANDT LN DETACHED 450,000 3 2.5 2050 3
32 SPINOSA DETACHED 455,900 4 3.5 2542 1964
148 5TH ST DETACHED 495,000 2 1 1314 0
1981 SUMMIT DR DETACHED 499,000 3 2.5 2579 630
6459 FROST ST DETACHED 499,900 4 2.5 2627 101
4925 MULHOLLAND DR ATTACHED 520,000 2 2.5 2424 2
13166 PETERS RD DETACHED 525,000 4 2.5 2575 0
13906 MAJESTIC CT DETACHED 530,000 4 3.5 2827 6
18634 BRYANT RD DETACHED 534,995 3 2.5 2736 41
63 TOUCHSTONE DETACHED 539,900 4 3 2472 4
80 TANGLEWOOD DR DETACHED 629,900 5 3 2713 3
2051 CREST DR DETACHED 669,500 4 2 2886 42
321 5TH ST DETACHED 749,000 3 3.5 2737 80
77 GARIBALDI ST DETACHED 829,000 4 2.5 3023 49
1222 TIMBERLINE DR DETACHED 899,900 4 3 3246 19
18218 MEADOWLARK LN DETACHED 1,695,000 5 6.1 8320 787

Sold/Closed (March 30-April 05, 2015)

Address Type List Price Close Price Sqft DOM
5063 FOOTHILLS DR A CONDO 200,000 20,500 991 3
169 OSWEGO SMT #169 CONDO 109,000 75,000 1330 126
6 CERVANTES CIR CONDO 139,500 132,402 912 142
200 BURNHAM RD #306 CONDO 183,500 183,500 1199 29
152 RIDGEWAY RD CONDO 234,900 237,000 1794 3
6138 KENNY ST DETACHED 314,000 314,000 1190 31
1743 ASPEN CT DETACHED 336,900 315,000 1341 115
15364 TWIN FIR RD DETACHED 375,000 338,000 1608 271
103 GARIBALDI ST DETACHED 479,000 340,000 3322 1215
43 CONDOLEA CT CONDO 365,000 345,000 2157 31
4820 LAMONT WAY DETACHED 420,000 380,000 1768 193
834 6TH ST DETACHED 525,000 400,000 1062 94
16201 LAKE FOREST BLVD DETACHED 464,900 415,000 1846 108
324 4TH ST ATTACHED 435,000 450,000 1731 30
1652 DEVON LN DETACHED 459,000 470,000 3181 165
17749 LEAFY LN DETACHED 579,000 585,000 3300 25
4848 HASTINGS DR DETACHED 575,000 590,000 2174 3
5043 ROSEWOOD ST DETACHED 639,900 605,000 2963 233
4182 GLACIER LILY ST DETACHED 630,000 630,000 2799 4
197 FURNACE ST 3S CONDO 689,900 670,000 2091 114
797 F AVE DETACHED 700,000 705,000 2323 2
13612 GOODALL RD DETACHED 1,469,000 1,469,000 4362 332
18414 OLD RIVER LNDG DETACHED 1,795,000 1,650,000 6498 553

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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Tree City USA

“The wonder is that we can see these trees and not wonder more”
-Ralph Waldo Emerson

This year Lake Oswego is celebrating 26 years as a designated Tree City USA! This is given to cities that demonstrate a strong commitment to managing and caring for trees by the National Arbor Day Foundation. With Arbor week being April 5-11, it seem appropriate to do some bragging about the beautiful trees in Lake Oswego.

trees 002The Natural Resources Advisory Board for the city designates significant trees in the city as “Heritage Trees”. Four new trees are being given this designation this year: two sycamores at 16584 Roosevelt Avenue, a giant sequoia at 14145 Redwood Ct, and a madrone at Oswego Pioneer Cemetary on Stafford Road. That brings the total number of trees with this designation to 35.

In honor of Arbor Week, the city has got some pretty fun events planned:

Free the Trees is a concept that began in Springbrook Park. The idea is that while it is hard to clear all of the English Ivy out of the Park all at once, if it’s done gradually it gets done over time. English Ivy, left to grow unchecked, kills trees. People who take walks through the park were asked trim and remove the ivy around one tree while on their walk. It worked! If you would like to join in the effort, you can get more information by contacting Babs Hamachek at bhamachek@ci.oswego.or.us.

trees 003Stafford Grove Tree Planting & Poetry Reading. Thursday, April 9, 1:30-2:30, 1061 Sunningdale Rd. Join the Forest Hills/First Edition Neighborhood Association in planting a tree, and then listen to former Oregon Poet Laureate Paulann Peterson reading poetry.

Barnyard Tales & Heritage Tree Walk. Wednesday, April 8, 10-11am at Luscher Farm, 125 Rosemont Road. Lynne Bacon, a renowned storeyteller, will be holding a story time on the farm followed by a visit to the Heritage Trees that are located on the farm. Space is limited, so you need to register, although it is a free event. Register on line at www.loparks.org, use activity code #10646.

Blossoming Tree Craft. Saturday, April 9, 2-4pm, LO Library, 706 4th St. Make beautiful blossoming tree crafts. For all ages of tree lovers.

I personally have 4 HUGE trees in my yard, 3 firs and a glorious English walnut. They really enhance the feeling of sanctuary that I feel about my home.

Trees
-Joyce Kilmer
“I think that I shall never see
A poem lovely as a tree…….”

As always, thanks for reading the blotter,
Dianne

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News & Notes

The most recent real estate numbers for Portland and the Lake Oswego/West Linn areas (RMLS lumps them together) are available.

According to the RMLS Market Action Report for the Portland Metro Area, February, 2015:

  • There were 2,884 New Listings in February which was up 4.4% from January, and up 22.5% from February of 2014.
  • At 1,648, February Closed Sales increased 11.6% over January, and were up  12.3% from February of 2014.
  • February Pending Sales (accepted offers), at 2,534, was the strongest since 2007. Up… 10.5%  from January, and up a whopping 37.1% from February 2014.
  •  The Average Sale Price in February of $328,000 was down $1,400 from January, and up $2,500 from February of 2014. 

__________________________________________

The combined areas of Lake Oswego and West Linn  for the month of February 2015 reported:

    • 360 Active Listings
    • 198 New Listings
    • 149 Pending Sales
    • 86 Closed Sales
    • An Average Sale Price for February of $518,300.
    • Average Time on the Market: 100 Days
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What are Flowers Worth?

Lake Oswego Flowers
Hello all!

With the approach of spring comes the inevitable yard chores: fixing the fence, de mossing the roof, and planting annuals. Some of us really enjoy spending time outside in our yards, and some just don’t find much draw to yard work. But did you know that a nice clean yard helps in adding to the value of your home?
Sure planting flowers does not increase the appraised value, but it could be the key factor to attracting the right buyer! When we buy homes we are not often looking at JUST the interior of the home but the exterior, space, and location. Flowers, a new fence or deck, and a tidy lawn allow buyers to think in terms of what they would want to do with the space, and are less likely to worry about updating. And hey if you are not good with flowers then you can buy local plants that do not need much maintenance, but still help add aesthetic value to your home (even cactuses work).
So lets welcome the start of spring and get to some yard chores!

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Market Activity March 09-15 2015

Today marks the official first day of Spring 2015! Flowers are blooming, bees can be seen here and there, the soft hum of frog croaks can be heard, and (if you are in the right place) the peacocks have started howling into the evening. Lake Oswego is an absolute gem when it comes to the spring time, and with the approach of luxurious weather comes our grand increase in the Real Estate market. Already we have 15 new homes that are making their debut, 25 now pending homes, and 17 sold houses! Right now is a very good time to look into listing your home if you have been waiting to do so. And for those who are in the market with the intention to live here; we have so much to offer of this beautiful city that we love.

Below are the details according to the RMLS:

New on the Market (March 9-15, 2015)

Address Type Price Bedrooms Bathrooms Sqft
16250 PACIFIC HWY #67 CONDO 149,900 1 1 841
31 LADD ST DETACHED 318,900 3 1 867
1689 MEADOWS DR DETACHED 394,900 4 3 2182
17763 MARDEE AVE DETACHED 447,000 5 3 2300
14145 REDWOOD CT DETACHED 539,000 4 3 2452
1670 PINE ST DETACHED 675,000 4 3.5 3286
4405 SUNDEW CT DETACHED 789,000 5 3.5 4820
13836 AMBERWOOD CIR DETACHED 839,000 3 2.5 4183
1651 VILLAGE PARK LN DETACHED 989,000 4 3.5 4841
17970 ROYCE WAY DETACHED 1,125,000 5 4.5 5226
3131 WESTVIEW CT DETACHED 1,150,000 4 4.5 4688
16902 CHAPIN WAY DETACHED 1,299,000 5 4 3696
1947 SUMMIT DR DETACHED 1,595,000 5 5.5 5092
1000 ATWATER RD DETACHED 2,195,000 5 4.5 6391
1653 LAKE FRONT RD DETACHED 3,900,000 5 5.5 6274

Pending Sales (March 9-15, 2015)

Address Type Price Bedroom Bathrooms Sqft DOM
47 EAGLE CREST DR #41 CONDO 115,000 2 1 932 2
44 EAGLE CREST DR #1 CONDO 134,900 2 1 908 3
6 CERVANTES CIR CONDO 139,500 2 1.5 912 142
4 TOUCHSTONE #158 CONDO 140,000 2 2 984 5
4 TOUCHSTONE #89 CONDO 155,000 3 2.5 1351 35
200 BURNHAM RD #402 CONDO 199,500 2 2 1305 261
16805 GASSNER LN DETACHED 225,000 3 2 1092 7
15472 BRIANNE CT CONDO 169,000 2 2 1208 2
1107 CHERRY LN DETACHED 424,900 3 2 2094 10
578 2ND ST #6 CONDO 425,000 2 2.5 1394 62
629 5TH ST DETACHED 449,000 2 1 1122 266
14201 DOLPH CT DETACHED 449,000 3 2 1864 53
18790 BRYANT RD DETACHED 524,995 3 2.5 2400 22
11 JUAREZ ST DETACHED 550,000 4 2.5 2600 5
1868 GLENMORRIE DR DETACHED 585,000 3 4 3032 22
5043 ROSEWOOD ST DETACHED 609,900 3 2.5 2963 233
197 FURNACE ST 3S CONDO 689,900 2 2.5 2091 114
1380 BONNIEBRAE DR DETACHED 699,000 5 3 2940 109
5665 GRAND OAKS DR DETACHED 780,000 3 3 4226 1
1785 PALISADES TERRACE DR DETACHED 799,000 4 4.5 5052 227
14034 TAYLORS CREST LN DETACHED 869,000 5 3.2 4007 34
496 8TH ST DETACHED 879,000 4 2 2899 4
17900 GREENBLUFF DR DETACHED 949,000 4 3.5 4210 300
13080 THOMA RD DETACHED 1,100,000 5 3.5 3400 632
18253 SIENA DR DETACHED 1,198,000 5 4 4310 25

Sold/Closed (March 9-15, 2015)

Address Type List Price Close Price Sqft DOM
1 SW CRESTFIELD CT CONDO 95,000 95,000 689 18
526 S STATE ST CONDO 169,000 160,000 914 92
5061 FOOTHILLS DR A CONDO 199,950 205,000 991 6
48 EAGLE CREST DR ATTACHED 208,500 208,500 1550 1
15868 PARKER RD DETACHED 219,950 220,000 780 36
16351 PACIFIC HWY DETACHED 339,900 329,900 1754 18
4146 LAKEVIEW BLVD DETACHED 400,000 350,000 2056 99
1327 CEDAR ST DETACHED 399,900 395,000 2350 26
768 BERWICK CT DETACHED 549,900 480,000 1731 24
8 WALKING WOODS DR DETACHED 515,000 495,000 3105 25
14372 CAMDEN LN DETACHED 519,900 500,000 2348 52
1868 KILKENNY DR DETACHED 550,000 510,000 2300 83
2234 FERNWOOD CIR DETACHED 545,000 530,000 2975 84
17393 SCHALIT WAY DETACHED 540,000 545,000 2897 3
17694 MARYLBROOK DR DETACHED 719,000 719,000 2758 2
1287 BICKNER ST DETACHED 699,500 722,695 2665 103
13024 ROGERS RD DETACHED 769,000 769,000 3333 0

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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Home Warranties

Home warranties have become a common part of the majority of real estate transactions. It is basically an insurance policy that covers the home system components and some of the appliances. My most simple description is that if you think about items that have energy or movement in them, it is more likely to be part of the policy. Each policy is slightly different, so please consult the companies who offer them, but what is usually covered are furnace, water heater, plumbing and electric elements. What isn’t covered are stationary elements like the roof, the foundation, the walls.

When policies are purchased, they are good for one full year from the date of purchase and can then be annually renewed thereafter. I have twice had clients who received the policy when they purchased their home and then kept it the entire time they owned the house.

There are numerous companies who offer these policies. I am going to tell you about the three that I see most used in our area.

ahs_logo_176x65American Home Sheild is the big boy in this field. They were the first company I heard of and they do a big percentage of the plans that are sold. They have 3 plans: Esssential, Plus, and Complete. The numbers I am going to give you here are as of this day, and do not include quite a few options that could be added on. It is based upon a home that is single family, in Oregon, 10+ years of age (newer homes are slightly less expensive) and does not include air conditioning (which could be added on).

The Essential Plan does not cover any appliances. It does cover the furnace, water heater, plumbing and electric. It costs $380. The Plus plan covers the appliances, including the refrigerator and the washer and dryer, and it costs $510. The complete plan adds to the coverage things like the garage door opener, the door bell, and ceiling fans. It costs $565.

To use the policy you simply call an 800 number to make a claim. American Home Shield contracts locally and sends a technician to your home. There is a $75 charge for each service call.

It is possible to place the policy on the home at the time it is listed for sale. I highly recommend this. It is not paid for until the house is sold. If the house is never sold then there is no charge for the coverage unless the policy is used and that charge is just $60. So it is really affordable and the policy could potentially be used to deal with home inspection issues.

logoFirst American Home Buyer Protection Corporation is another well known company. They have two plans: Basic and Value+. Basic covers the home systems including the dishwasher and the range, but no refrigerator or washer/dryer. It costs $290. The Value+ plan adds air conditioning and it costs $420. Other items can be added to this plan, as it can be added to the other two, such as septic systems, swimming pools, the washer/dryer and the refrigerator. The service call to make a claim is $60. First American Home Buyer Protection also offers 180 days of coverage to the seller when the house is listed for sale at no charge, unless the policy is used and then the house is not sold, then there is a charge of $60.

home_warrantyLast I will mention Fidelity National Home Warranty They offer two plans: Standard and Comprehensive. The Standard plan does not include air conditioning and it costs $260. The Comprehensive plan does include the air conditioning and it costs $360. Both plans cover the dishwasher and the range, but neither cover the washer, dryer or refrigerator, which can be added on for an additional charge. The service call to make a claim is $65. Coverage for the seller at the time the house is listed for sale is available at no charge.

I think it’s pretty easy to see why purchasing one of these policies makes sense. For someone selling it may help cover repair issues and it certainly helps the buyer have a better comfort level with the home. For buyers, who usually spend most of their money on the down payment and the closing costs, it helps them to feel like they have a financial cushion for the first year that they will own the home.

Who pays for the policy? It’s negotiated between the buyer and the seller. I think it depends a lot on how long the house has been on the market without an offer, and also on how close to the asking price the buyer is offering.

I want to encourage you to do your research before you make or receive an offer. Figure out which plan you like and make sure it covers the elements that are of concern to you.

I am not an expert on these policies. I want to encourage you to contact these companies yourself to get exact information. Here is the contact info:

American Home Shield, 866-406-0440, www.ahs.com

First American Home Buyer Protection Corporation, 888-875-0533, www.homewarranty.firstam/Default.aspx

Fidelity National Home Warranty, 800-308-1420, www.homewarranty.com

Do not hesitate to get in touch with Linda, Whitney, or myself, if you have any questions about real estate!
Dianne

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Zillow buys Trulia, how does this affect the game?

Back in January of 2015 Zillow spent 3.5 billion dollars and bought out Trulia, though instead of overhauling their competitor, they have decided to maintain separate identities while working together to achieve larger real estate advertisement goals.

For most modern-day home buyers, actively or even casually in the market looking for a house, they will turn to the comfort of their computer at home or even on their mobile device while out and about. It is just so much more convenient to have the information on hand than it is to call up a real estate agent and request the information. Typically what sites do they turn too? Zillow and Trulia are the most popular public access real estate information platforms on the internet today. Zillow gives a rough estimate on the price of houses currently on the market, while Trulia offers information on the location of the home, the neighborhood, various draw-ins around the neighborhood, and even provides readily accessible information for mortgage brokers.

How does this affect homebuyers?
For home buyers this is a dream. House shopping becomes painless, quick, and convenient. You can easily bring up houses side-by-side and compare traits that you would find most favorable when making that very important decision of buying (or even selling!) a home.

How does this affect Realtors?
Realtors are no longer turned to as the gurus of knowledge for obtaining information on all houses provided for by the real estate market. Though that does not mean that we have been replaced! The most important job a Realtor can take on is being there in person with buyers and sellers, and guiding them through the experience. A LOT of paperwork goes into buying and selling houses now days, and it is a Realtor’s job to walk you through the steps and help guide you, while making sure that you are well informed of anything and everything that is known about the property. Instead of being the gatekeepers of information on the real estate market they are now more like guard dogs. It won’t be Zillow who maintains copies of counter-offers and addendums, tracks dates, and informs you of deadlines which may risk your earnest money (Nor do I foresee Zillow coming out to a home inspection and/or radon text. But who knows!). One thing that Zillow provides, which is beneficial to Realtors, is that it maintains a database of information on houses that extend nationwide. So real estate agents no longer have to maintain an area of expertise (unless they want too of course) and can participate in transactions as far out (within their state) as they are willing to drive. This is beneficial to those who are active in social media sites and like to maintain a referral network.

For selling agents Zillow and Trulia make advertising your listing a breeze, but only for those surfing the internet. Though it is nice to have easy-access internet advertising, if you wish to stand out from other listings, which have the same publicity on Zillow/Trulia, you will need to continue working those open houses!
As a side note: no matter what information Zillow or Trulia finds on a property. It will inevitably still be the listing agent who will be the most knowledgeable about specific details.

How does Zillow get its prices?
Zillow uses an algorithm known as The Zestimate. Like the very function of its name, it is an estimate and NOT an appraisal (estimates are not used legally to determine the actual value of the house). The Zillow Zestimate uses information on the property such as previous prices the home was bought and sold by, as well as houses in the neighborhood that are of similar price value. The Zestimate does NOT take into account subjective desires like: views, shops, RV parking, gardens, real wood floors, stained glass, finished and furnished basements (which are just a few of the things not considered, to give you an idea. Zillow only looks at prices and price history). Zillow’s Zestimate aims at giving you an idea of where to start when pricing a home. Some Zestimates are going to be more accurate than others depending on the activity of the neighborhood in the real estate market. In essence: if a Zestimate is too low it could be because Zillow is not taking into account a completely new kitchen renovation, as well as any other amenities that may make the house more desirable than houses surrounding the property.

What can I expect to see now that Zillow and Trulia have joined forces?
A mass information abundance! Which is a good thing for buyers, sellers, and Realtors! Providing easy access for information on houses while you are already browsing your social media sites, or surfing the internet.