Category: General

All About Lake Oswego, Oregon real estate topics

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It’s Tax Time

Funny how it manages to roll around, year after year. The cooler evenings and changing of the leaves also means property taxes are soon arriving in our mail boxes. The statements are usually mailed out mid October and are due to be paid, this year, on November 17th.

I always get questions from new home owners about what they receive in the mail. If you pay your taxes monthly into a reserve account that your lender manages, then your statement is simply that, a statement. It will be yellow in color. Your lender will also receive this statement. They will see to it that your taxes are paid from your reserve account. If you pay your own taxes, then your statement will be green. You can get a 3% discount if you pay them in full by November 17th. You can also break them up in thirds and pay 1/3 November 17, 2014, February 17, 2015, and May 15, 2015.

page-0Another confusing concept is the fact that the statement has two valuations. One is tax assessed value and one is market value. This exists because we have annual tax increase limitations that don’t follow the real market value, thus you receive two values. I am not too impressed by the real market value the county puts out, but it is interesting. As long as the tax assessed value remains lower than the market value, your taxes will increase each year, usually 3%.

If you think your assessed value is too high, you should consider contesting this valuation. If you have been a reader for sometime, you may recall I successfully contested my Mother’s tax assessed value about 2 years ago. Going through the process, her property taxes dropped about 30%. For the county website to get info on this, click here. Please also feel free to pick up the phone and call me (503-803-6298). I’d be happy to help you understand the process. The window of time to contest taxes is short. This year it is from October 20, 2014 to December 31, 2014. So if you are thinking of doing this, get started NOW.

As always, thanks for reading.
Dianne

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Market Activity ~ Sept 22-28, 2014

We still have steady sales per Pending and Closed numbers, and/but fewer homes are entering the market. Fall is in the air!

Here is your Latest Market Data: Last week in Lake Oswego we saw 8 New properties enter the market, 22 move to Pending status, and 21 “Closed”/Sold.

Following is the breakdown according to RMLS:

NEW on Mkt (Sept 22-28, 2014)

Address List Price # Beds # Baths Total SF Prop Type
4610 LOWER DR $114,900 2 1.1 1260 CONDO
158 OSWEGO SMT $138,000 2 2 1506 CONDO
121 LEONARD ST #C $195,000 2 2 1118 CONDO
200 BURNHAM RD #105 $229,900 1 1 858 CONDO
27 ORIOLE LN $425,500 4 2.1 1851 DETACHD
18768 WOOD DUCK ST $499,900 3 3 2940 DETACHD
11 MOUNTAIN VIEW LN $799,000 4 3.1 3659 DETACHD
1865 PALISADES TERRACE DR $6,900,000 5 5.3 8800 DETACHD

PENDING SALES (Sept 22-28, 2014)

Address List Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR #41 $109,995 2 1 908 CONDO 421
10 CERVANTES CIR $149,900 2 1.1 912 CONDO 14
18543 DON LEE WAY $250,000 3 1 924 DETACHD 20
16450 LAKE FOREST BLVD $289,900 4 2 1442 DETACHD 4
1 EAGLE CREST DR $326,000 3 2 1265 DETACHD 18
5713 KENNY ST $335,000 3 2 1384 DETACHD 31
2051 GREENTREE RD $419,900 3 2.1 1864 DETACHD 67
3061 DORIS CT $429,900 5 2 2684 DETACHD 45
5115 FIRWOOD RD $439,970 4 2.1 1657 DETACHD 68
1530 LARCH ST $469,000 3 3 2384 DETACHD 3
960 9TH ST $475,000 2 1 1509 DETACHD 63
47 DA VINCI ST $475,000 3 2.1 2445 DETACHD 57
5225 COVENTRY CT $504,900 3 2.1 2050 DETACHD 3
19040 INDIAN SPRINGS CIR $509,900 4 3 2900 DETACHD 3
768 BERWICK CT $549,900 3 2 1731 DETACHD 24
12402 SHELBY CT $555,000 4 3 3120 DETACHD 74
2400 DELLWOOD DR $574,900 4 3 3180 DETACHD 1
3 WALKING WOODS DR $575,000 5 3 3853 DETACHD 86
17601 WOODHURST PL $650,000 3 2.1 3179 DETACHD 53
17410 UPPER CHERRY LN $739,000 4 3.2 4586 DETACHD 123
17129 KELOK RD $1,299,000 4 2.1 2894 DETACHD 0
13888 GOODALL RD $1,379,000 4 3.1 4435 DETACHD 265

SOLD  (Sept 22-28, 2014)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
245 CERVANTES $149,900 $153,500 2 2 1292 CONDO 5
5058 FOOTHILLS DR #A $239,900 $235,000 2 2 1252 CONDO 12
1720 BONNIEBRAE DR $287,500 $287,500 2 2 1611 ATTACHD 66
4291 WOODSIDE CIR $325,000 $315,000 3 2 2026 ATTACHD 49
90 KINGSGATE RD $289,900 $325,000 3 2.1 1727 DETACHD 326
1795 FERNWOOD DR $339,900 $325,000 3 1 1220 DETACHD 17
562 2ND ST $379,900 $377,000 2 2.1 1302 CONDO 177
14344 HOLLY SPRINGS RD $399,000 $400,000 3 2.1 1699 DETACHD 0
10 ABELARD ST $394,900 $400,000 3 2 1874 DETACHD 5
18929 LONGFELLOW AVE $446,000 $446,000 3 2 1800 DETACHD 7
523 2ND ST #105 $465,000 $465,000 2 2 1274 CONDO 12
7 WINDSOR CT $495,000 $485,000 5 2.1 2728 DETACHD 62
2802 GREENTREE RD $499,500 $507,000 3 2 2548 DETACHD 45
33 MORNINGVIEW CIR $550,000 $515,000 3 2.1 2737 DETACHD 123
4311 ORCHARD WAY $549,900 $520,000 4 2.1 3010 DETACHD 227
17900 CANAL RD $599,000 $535,000 4 3 2992 DETACHD 266
17450 TREETOP WAY $585,000 $575,000 5 3 3752 DETACHD 0
3333 Royce WAY $609,007 $614,999 4 2.1 2697 DETACHD 295
551 2ND ST $660,000 $615,000 2 2 1631 CONDO 74
1403 GREENTREE CIR $669,000 $635,000 5 3.1 4047 DETACHD 47
13777 CAMEO CT $1,700,000 $1,585,000 4 5.1 7300 DETACHD 38

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

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) numbers:

The latest real estate numbers in Portland and the Lake Oswego/West Linn areas for August are in. There’s a mixed bag of improvement generally over last year, and/but continued slowing in August, as in July, from the months prior.

According to the RMLS Market Action Report for the Portland Metro Area  August, 2014:

  • At 2,586, August Closed Sales dropped 3.4% from the month prior (July), and 1.4% from August of 2013.
  • There were 3,581 New Listings in August which was 4.6% higher than August 2013, but down a whopping 9.4% from the month prior.
  • The Average Sale Price in August of $340,000 was down exactly $4,470 from the month prior. The first eight months of 2014 are logging an Average Sale Price of $332,600, which is up 7.6% over the same time period in 2013.
  • August Pending Sales (accepted offers), at 2,704, were down 3.5%  from the month prior. They were also slowing in July, which indicates fewer offers being made. That said, the Pending sales for August are up 3.4% over August 2013 .

__________________________________________

In Lake Oswego and West Linn we have some slowing in New Listings from July, and exactly the same number of Pending Listings…which is interesting :  )  The number for Closed Sales (how many were actually completed during August) is down a bit. The number of days it is taking for a property to sell is shrinking… which is a Good thing! As always, the Average Sale Price is higher than Portland Metro numbers. This is because of the percentage of high dollar homes, and does not mean that you can’t find reasonably priced homes here as you can see from our weekly Market Activity Reports.

The combined areas of Lake Oswego and West Linn  for August reported:

    • 531Active Listings
    • 185 New Listings
    • 148 Pending Sales
    • 134 Closed Sales
    • An average Sale Price of $520,200.
    • Average Time on the Market: 57 Days
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Buying versus Renting

Whitney Gregoire’s first post!

Hello everyone, I finally made it, I’m a Realtor! I want to thank Linda Rossi and my mother Dianne Gregoire for providing me with this wonderful opportunity to blog about real estate. I am excited to dive into the profession and look at some amazing houses!

Being a new Realtor in the business means that I have a lot of learning to do (thankfully my Mom is a pro), but perhaps my learning can also be your learning as you follow our blog.

So I wish to share about my very first request from my friends when I finally got my license activated with Oregon First, and that is:

“Now do you only sell houses for sale or can you show people rental houses as well?”

A lot of my good friends are around my age (25-30) and are just getting a handle on their career path and direction in life. Moving into a new home is a grand venture and requires a lot of motivation in your invested self as well as the aptitude of your wallet. So a lot of them are renters. Really this question is more along the lines of: You are ready to move into a new home, do you buy or do you rent?
First off as a real estate broker I can only sell property under the supervision of my principle broker Mickey Lindsey, and not manage rental properties for an owner. So my license does not cover managing rental properties. I can however sell a property to somebody looking to buy who intends on keeping it, as property that they rent out themselves. Unfortunately, even if I help a friend look on-line for a property for rent and send them to a property manager I do not collect a commission. So as you can see there isn’t any motive to help somebody find a rental property for an Oregon broker.

With that said there are pros and cons for renting versus buying that I can touch upon:

Renting:
Renting a home provides for convenience of location while at the same time being affordable. Most often it is your property manager’s responsibility to maintain the general up-keep of the residence, and in some cases they pay the property tax. It’s nice if your income is a bit stretched and you really want to live in certain areas due to work or school. It can however be difficult to be a renter as property managers must enter your home from time to time to maintain the general up-keep (not without giving you twenty-four hours notice of course). And if you break your rental agreement by buying a dog in a dog-free complex you risk termination of the contract which may lead to eviction. So really you do not actually own the property and must live by somebody else’s rules. Then again you are also free of the responsibility of the physical integrity of the property, which is what deposits are for; in case you cause any considerable damage to the home that must be repaired when you move out. You are living in somebody else’s investment.

Buying:

Buying a home is expensive, and keeping up on taxes and liens on the property can be a bit stressful at times. However, there is nothing greater than knowing that you are the owner. Buying a property can be a great investment: as once you pay off the initial mortgage on the property that land becomes yours, and if you sell it you get money (after taxes of course). You can invest in your property however you see fit: You can rent it out to others for monetary gain, you can build a shop on it to support your own business or hobbies, and you can play on it and paint the walls of your house any color you desire. Or just simply live on it. Buying a property means that you are providing yourself with an investment that adds to your personal assets and worth. And isn’t it worth living it for you? I guess I’m bias, being a broker and all.

So all in all I only do the selling of property thing, and I do not deal with rental property. However, if any of you have any questions about rental property or would like to rent feel free to search on the web for your desired location to live in, and contact the property manager of any property that you might find. Have a chat with them and ask them about what they have to offer and/or how it works, because licensed property managers will know more about rental property than I do.

Thank you for reading! If you are at all interested in watching my experience of being a new Realtor unfold then feel free to follow me on facebook!
https://www.facebook.com/whitney.gregoire.9

Thank you all,
Whitney Gregoire
(503) 778-0644

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Welcome Whitney!

Whitney Gregoire
Whitney Gregoire
I am just super excited to announce the addition of my daughter, Whitney Gregoire, to our team here at the blotter. My Mom was a Realtor here in Lake Oswego for nearly 30 years. I got my license in 1987, and now Whitney has gotten her license as well. I guess it’s in our blood.

Whitney in 1988 in front of my Mom's sign
Whitney in 1988 in front of my Mom’s sign
Whitney is a graduate of Lakeridge High School here in Lake Oswego and graduated from Columbia College Chicago in 2008 with a degree in computer annimation. She is extremely creative and engaging. I think you’ll enjoy the energy she brings to her endeavors. I am excited to have her computer and technical skills be part of our team. I think she will give you a fresh perspective on the topic of real estate.

Welcome Whitney!

Dianne

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The Haps in Lake Oswego

sunDianne and I hope you are enjoying your summertime! If you are one of our many Lake Oswego readers, or working on moving to Lake Oswego (call us if you need help : ), here are some of the fun August activities you may want to sample:

* Annual Photo Contest! – Entries must be submitted by 5 p.m Sep. 4th – Photo Submission Categories include Life, Places, People, Positive Aging, Youth and Pets in Lake Oswego – Click HERE for more info.

* Collector Car & Classic Boat Pre- Show and Show – Sat & Sun/Aug 16th  & 17th – Foothills Dock / & George Rogers Park  – Click HERE for more details.

* Lake Oswego Farmers Market – Every Saturday, 8:30 – 1:30PM – Millennium Plaza Park -Click HERE for more details.

* Moonlight & Music Concerts – Every Sun – 6:00-7:30PM – Millennium Plaza Park  (Aaron Meyer Aug 10th)  – All are Welcome.  Click HERE for more info.

* Movies in the Park –  Every Thursday –  8:00-10:00PM – Millenium Plaza Park – Click HERE for more info.

* Master the Art of Poetry – Every Saturday – 10 – 11:15AM  – Lake Oswego West End Building  Click HERE for more info.

Very Best,

Linda

 

 

 

 

 Note: This is not intended to solicit existing business relationships from other Realtors.

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The Haps in Lake Oswego

4thSummer is in full swing and Lake Oswego offers a variety of ongoing family and community events for your pleasure.

The following is a sampling of activities coming right up in Lake Oswego:

 

* Iron Works Historic Tour – Saturday, June 28 – 8:30-10:30AM – George Rogers Park – Click HERE for more info.

* Kindercamp! – “1/2 Days”  M-F thru Aug 15th  – 4101 Kruse Way – Click HERE for more details.

* Understanding US Military Patches – Tues, June 24, 7:00 – 8:30PM – Lake Oswego Library -Click HERE for more details.

* Supervised Computer Lab – Every Wed – 1:00-2:30PM – Adult Community Center – All are Welcome. Click HERE for more.

* Star Spangled Parade and Celebration!!! –  Fri, July 4th – (staging at 9AM) 10:00AM-2:00PM – Millenium Plaza Park – Click HERE for more info.

* Lake Corp Fireworks!!!  (+Road Closure Info) – Fri, July 4th – 9 – 11AM   –  Click HERE for more info.

 

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Tips and Tidbits

HandyHomeHome Repairs – When a house is in the middle of a transaction, does the Seller need to utilize licensed, bonded contractors to effect repairs that have been agreed upon? Yes! (Gold Star : ) Why? Well… there are several reasons- 1) It’s Oregon State Law when you’re in the middle of a real estate transaction. 2) It may state so in the Addendum you all signed (I always put it in there to make sure everyone is clear) or it is embedded in the current OREF Buyers Repair Addendum. 3) It just makes sense… for the Buyer and the Seller. Why? Well:
* Buyers: Licensed, bonded contractors typically know what they’re doing. We assume that’s how they got licensed and bonded. True, you can have someone who is not licensed and bonded do minor repairs in theory, and maybe come out OK, but what if someone, say, believes that really “pressure-washing” a roof is how to get moss off (too much pressure will, I’m told, wash the crystals off the roof tiles that actually cause them to be effective…), or thinks it’s OK to pour concrete directly up against the wood structure or siding of the house (it’s not OK: How Not To ) or thinks they know enough to do the “minor” wiring called for in the Addendum ummm…(safety first… common sense…).
So. if you’re the Buyer, and work was done that you realize was not done well AFTER you’ve already moved in (This is not good, by the way…you should always do a walk-through prior to close. But occasionally unsafe or shoddy work will not be noticeable till later), you can at least call the contractor up and address that with them and have a leg to stand on if they are licensed and bonded.
* Sellers: In light of what I mention above, wouldn’t you rather have had a licensed, bonded contractor perform repairs on your transaction? Its not about relinquishing responsibility for making sure repairs are done properly, but rather about making sure the contractors you choose can actually back it up, and take responsibility themselves for the work they’ve done.

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The Haps in Lake Oswego

Oswego-LakeThe cherry trees are budding & the rest are growing tiny, light-green nodules that will become leaves. The air is warming, and spring is springing in Lake Oswego! People are eating out on the decks of restaurants on the Lake.  Teens are cleaning up their water skiis and getting the boats ready. The shopping Center downtown is seeing extra activity with folks hunting for spring & summer dresses, table accoutrements, & sunglasses. Fresh flowers are gracing all of our homes, and we welcome the heaven that is the spring & summer months here.

The following is a sampling of activities coming right up in Lake Oswego:

 

* Teen Poetry Slam – Thurs Apr 3rd – 7-8PM – Lake Oswego Library – Click HERE for more info.

* Trillium Festival & Hardy Plant Sale – Sat & Sun April 5th & 6th  – 10AM – 4PM  Tryon Creek – Click HERE for more details.

* Arbor Week Festival and Tree Planting – Kickoff  Sun, April 6th – Noon – 3PM  – Millenium Plaza Park -Click HERE for more details.

* Preschool Storytime – Tues, April 8th (repeats weekly) – 10:30 – 11AM – Lake Oswego Library – Click HERE for Program Details.

* Performing Arts –  Wed, April 9th – 1-2PM – Lake Oswego Library – Seattle folk singer, Rose Laughlin performs captivating Celtic and American folk songs – Click HERE for more info.

* Boones Ferry Road Project Advisory Committee Meeting – Tues, April 15th – 9 – 11AM – West End Building  –  Click HERE for more info.