General Archives - Page 26 of 43

November 21, 2014

2015 Economic Forecast

While 2014 may be winding down, 2015 is just around the corner. I tend to think of this time of year as a time to regroup. Business is slower. It gives me a chance to catch my breath, but also to gear up. January 1, I want to hit the ground running. With that in mind, I try to take advantage of First American Title’s annual economic forecast. This event happened this morning and I thought I share some of what I learned.

The expert who gives this presentation is John Mitchell, Chief Economist for M&H Economic Consultants. He does a great job of taking a dry subject that is filled with numbers and charts, and making it entertaining and engaging. I am going to share with you a few highlights.

For the most part the outlook is good. While economic growth has been slow, it has also been steady. For the past few years there have been fits and starts with the economy. Mr. Mitchell likened it to Bill Murray and Groundhog Day. We’ve seen it before and we will see it again. The economy is chugging along. It’s not explosive, but it is more steady than not.

Some positive news:
Consumers who have delayed major life decisions (getting married, having a child, buying a bigger house) are gaining confidence and starting to make those big moves. This is a stimulus for the housing market.

The US Economy is the envy of the world. Financial and personal security are threatened in many parts of the world (Asia and Europe continue to lag in economic recovery, then there are the world events in Russia and the Middle East). This has countries and individuals looking to put their assets where they feel they will be secure, and that place is the United States. Mr. Mitchell gave credit to this influx of foreign money for the unexpectedly low interest rates of 2014.

The housing market is rebounding with both existing family home and new construction selling at greater rates than they have in years.

Oregon was #6 in the Nation for job growth in 2014.

Nationally, mortgage delinquencies are the lowest they have been since 2000.

Some concerns:
We are entering a whole new world that has no historic precedent. The stimulus package is pretty much over. The Federal Reserve is no longer buying mortgage backed securities. The economy is going to have to hold up the anticipated growth on its own. Having said that, the Fed is prepared to jump back in and re-engage if needed. This shows how fragile this recovery is. There is a lot of uncertainty.

The world situation has a lot of areas of concern. Ebola and ISIS were not on our radar a year ago. A major event can derail our economy. These events are not just difficult to hear about because of their horror, they also have an impact on our economy through things like consumer confidence and political turmoil.

Slowly gathering strength
On the whole, our economy is slowly gathering strength. As the job market grows and people feel more financially stable, they start to make decisions to improve their lives. Buying a new home is a big part of that picture.

Mr. Mitchell did advise that interest rates are likely to go up in 2015, but it will be fact driven. If the economy is not rebounding, they will stay low. If the economic rebound gets stronger, they will go up. Odd to think that rising interest rates are triggered by good news, but they are.

My personal thought on all of this is that our government and the Fed need our housing market to continue to rebound. It is vital to our National economic health. I have confidence that the housing market will stay on track with slow and steady growth.

As always, thanks for reading The Blotter,
Dianne

November 11, 2014November 15, 2014

Market Activity ~ Nov 3-9, 2014

Greetings, Property Blotter readers! Well, we’ve definitely got a chill in the air, and leaves are turning & flying away in the breeze. Buyers are out there looking and buying houses as well!

Here is your Latest Market Data: Last week in Lake Oswego we saw 24 New properties enter the market, 26 move to Pending status, and 10 “Closed”/Sold!

Following is the breakdown for you according to RMLS:

NEW on Mkt (Nov 3-9, 2014)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
59 GALEN ST	$94,900	1	1	550	CONDO
4636 LOWER DR #B-1	$128,000	2	1.1	1170	CONDO
86 KINGSGATE RD #C-203	$139,500	2	2	924	CONDO
47 EAGLE CREST DR #59	$140,000	2	2	1024	CONDO
336 CERVANTES CIR	$149,900	2	1.1	1112	CONDO
76 GALEN RD #76	$175,000	2	2	989	CONDO
62 GREENRIDGE CT	$260,000	3	2	1596	ATTACHD
113 TOUCHSTONE TER	$293,000	3	2.1	2104	ATTACHD
3 CONDOLEA DR	$325,000	3	3	2198	CONDO
4724 FIRWOOD RD	$329,000	3	1.1	1240	DETACHD
1437 OAK ST	$349,000	3	1	1070	DETACHD
17520 REDFERN AVE	$350,000	3	2	1776	DETACHD
564 2ND ST	$399,000	2	2.1	1394	ATTACHD
4146 LAKEVIEW BLVD	$400,000	5	1.1	2056	DETACHD
3402 LAKE GROVE AVE	$420,000	3	2	1686	DETACHD
5978 FERNBROOK CIR	$449,900	4	2.1	1612	DETACHD
533 2ND ST	$465,000	2	2	1274	CONDO
37 CHURCHILL DOWNS	$470,000	3	2.1	2372	DETACHD
5189 TUALATA LN	$475,000	3	2	2422	DETACHD
834 6TH ST	$525,000	2	1	1062	DETACHD
18728 BRYANT RD	$576,355	3	2.1	2736	DETACHD
4729 FIRWOOD RD	$599,900	3	2.1	2594	DETACHD
17680 WOODHURST PL	$1,095,000	5	3.1	5478	DETACHD
179 FURNACE ST	$1,698,000	3	3.1	4784	CONDO

PENDING SALES (Nov 3-9, 2014)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
87 OSWEGO SMT	$79,000	2	1.1	1116	CONDO	125
272 CERVANTES	$129,900	3	2	1209	CONDO	234
44 EAGLE CREST DR #11	$134,000	3	2	1085	CONDO	23
246 RIDGEWAY RD #17B	$160,000	1	1	753	CONDO	16
16250 PACIFIC HWY #76	$200,000	3	2	1801	CONDO	122
200 BURNHAM RD #105	$229,900	1	1	858	CONDO	42
5057 FOOTHILLS DR #H	$267,500	2	2	1252	CONDO	4
1531 BOCA RATAN DR	$289,000	3	2	1755	ATTACHD	57
468 5TH ST #13	$310,000	2	1.1	1092	CONDO	221
7 PEACOCK PL	$329,900	3	2.1	1400	DETACHD	19
1305 CORNELL ST	$349,000	3	2	2692	DETACHD	93
1453 GREENTREE CIR	$350,000	3	2	1762	DETACHD	3
16990 LOWER MEADOWS DR	$369,900	3	2.1	2000	DETACHD	2
528 2ND ST	$439,500	2	2.1	1703	ATTACHD	16
5747 VICTORIA CT	$549,000	4	2.1	2432	DETACHD	112
17619 Potters RD	$575,000	4	2.1	2665	DETACHD	9
5830 SUNBROOK DR	$575,000	4	2.1	2810	DETACHD	26
17821 HILLSIDE WAY	$589,000	4	3.1	3442	DETACHD	29
5674 CHARLES CIR	$639,000	4	2.1	2679	DETACHD	138
13983 WESTCOTT CT	$649,900	4	2.1	2792	DETACHD	7
2341 STONEHURST CT	$659,000	4	2.1	3389	DETACHD	2
2612 RIVENDELL RD	$775,000	4	3	3168	DETACHD	93
13327 ATWATER LN	$895,000	3	2	3004	DETACHD	220
17390 GRANDVIEW CT	$915,000	4	4.2	4516	DETACHD	506
63 NANSEN SMT	$919,900	4	3.1	3202	DETACHD	65
14122 GOODALL RD	$969,000	5	4.1	4530	DETACHD	331

SOLD (Nov 3-9, 2014)

Address	O/Price	Close Price	# Beds	# Baths	Total SF	Prop Type	CDOM
5058 FOOTHILLS DR	$239,900	$227,000	2	2	1252	CONDO	6
6262 WAYZATA CT	$328,950	$352,000	3	1.1	1276	DETACHD	15
4242 COBB WAY	$449,800	$388,000	3	2	1589	DETACHD	38
18840 RIVENDELL CT	$499,000	$439,000	4	3	3060	DETACHD	72
3718 LAKE GROVE AVE	$489,000	$452,000	4	3	2523	DETACHD	115
5440 BAY CREEK DR	$545,000	$520,000	3	2.1	2442	DETACHD	74
24 MORNINGVIEW CIR	$535,000	$520,000	4	3.1	2817	DETACHD	13
2584 Park RD	$559,000	$525,000	4	2	2302	DETACHD	110
2031 LILLI LN	$779,995	$770,000	3	3.1	3418	DETACHD	14
19463 LORNA LN	$899,500	$899,500	4	3.1	4055	DETACHD	429

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.

November 9, 2014

A little bit about mold

Hello everybody,

Whitney here! I’m posting this a little late, I apologize. It has been the week of catching colds!

Speaking of colds; I hope everybody is getting ready to weather through the winter, whether you are hunkering down and dealing, or going out there and enjoying the many things this season has to offer! During this change we close our windows and turn up the heat while outside it begins to fall ever-so-slightly into frigid chilliness.

This however means that our houses are not going to be as ventilated as they where during the spring and summer months, which can lead to mold.

How do you get mold?

Mold spores are often in the air already, and are supposed to grow outside when given the right circumstances. It is when it comes indoors that it becomes a problem. Mold kind of likes the same living space that we do: not to cold, not to hot, lots of water, and a comfy area that is free of drastic changes in the weather.

Any place that is moderate in temperature, damp, and unventilated runs the risk of accumulating mold. To put it bluntly: Everything in your house is mold food.

So how do you get rid of mold?

Controlling an areas moisture is essential to your artillery of defense against mold. For without ample amounts of water mold cannot grow. To do this you can simply ventilate your bathrooms, kitchen, and area where you keep your washer and dryer. Any place where you have water going in the house needs to be open, aired out, and cleaned frequently.

But how do you do this when it’s freezing cold outside?

Making sure that your bathroom ventilation is working properly is pretty important, as are the vents leading from your washer/dryer to the exterior of your home. In a pinch, if you feel that your home’s ventilation is not up to speed with the rate you feel you are at risk of mold: then you can purchase a dehumidifier from any major appliances store.

Anyway, that is my little tid bit about mold! I do hope your fall season has been vibrant, safe, and fun!

If you are interested in knowing more about mold, types of mold, and preventative steps to eliminating mold in your home; you can follow the link below. It has helped me learn a lot.

Bibliography:

Salem, Oregon Mold Information

November 7, 2014

Market Activity Oct 27- Nov 2, 2014

Wow! What a great month, and now November has started with a bang! Ten active listings have appeared here in our lovely Lake Oswego, while twenty are now pending, and twenty one have been sold!

Looks like there will be some new families in town enjoying their Thanksgiving in their new homes.

New on Market (Oct 27- Nov 2, 2014)

Address	Type	Price	Bedrooms	Bathrooms	Sqft
706 5TH ST	DETACHED	300,000	4	2	1824
21 SUMMIT RIDGE CT	ATTACHED	339,000	2	2.5	1654
17225 CHAPIN WAY	DETACHED	395,000	3	2	2257
32 SPINOSA	DETACHED	479,000	4	3.5	2542
3870 SOUTHSHORE BLVD	DETACHED	495,000	3	2	2616
17619 POTTERS RD	DETACHED	575,000	4	2.5	2665
571 2ND ST	CONDO	589,500	2	2	1561
13983 WESTCOTT CT	DETACHED	649,900	4	2.5	2792
5157 WOODCREST LN	DETACHED	649,900	4	2.5	3144
2550 SOUTHSHORE BLVD	DETACHED	650,000	4	3.5	3721

Pending Sales (Oct 27- Nov 2, 2014)

Address	Type	Price	Bedroom	Bathrooms	Sqft	DOM
4 TOUCHSTONE DR #99	CONDO	159,000	2	2	984	6
900 CORNELL ST	DETACHED	240,000	3	1.5	1300	26
6243 SW DAWN ST	DETACHED	314,000	3	1.5	1254	89
92 GREENRIDGE CT #92	ATTACHED	348,000	3	2.5	1980	14
5344 TUALATA CT	DETACHED	349,355	3	2	1263	11
4470 CHAPMAN WAY	DETACHED	360,000	3	3	2125	174
4631 WILDWOOD ST	DETACHED	389,900	3	2	1650	68
1878 MAPELEAF RD	DETACHED	395,000	3	1.5	1347	28
13197 THOMA RD	DETACHED	399,900	3	1.5	1640	22
2051 GREENTREE RD	DETACHED	419,900	3	2.5	1864	98
18431 DEER OAK AVE	DETACHED	439,900	4	2.5	2203	68
4726 CAMBRIDGE CT	ATTACHED	595,000	3	2.5	2868	9
531 LAUREL ST	DETACHED	649,900	4	3.5	2771	190
13639 TWIN CREEK LN	DETACHED	675,000	5	2.5	3202	87
4090 WESTBAY	DETACHED	749,900	3	2	2078	59
3600 SOUTHSHORE BLVD	DETACHED	824,900	3	2.5	2117	83
841 NORTHSHORE RD	DETACHED	889,850	3	3	2388	140
5055 LAKEVIEW BLVD	DETACHED	890,000	4	3.5	3498	28
2335 OSWEGO GLEN CT	DETACHED	899,000	4	4	3932	167
3411 LAKE GROVE AVE	DETACHED	999,999	4	3.5	4434	177

Sold/Closed (Oct 27- Nov 2, 2014)

Address	Type	List Price	Close Price	Sqft	DOM
86 KINGSGATE RD C102	CONDO	131,000	128,000	924	4
45 EAGLE CREST DR #218	CONDO	135,000	128,500	768	142
15938 QUARRY RD B15	CONDO	144,500	146,570	996	45
10 CERVANTES CIR	CONDO	149,900	149,900	912	14
1531 BONNIEBRAW DR	CONDO	244,900	239,900	1303	74
15930 WALUGA DR	DETACHED	200,000	240,000	1040	149
5530 BONITA RD	DETACHED	269,900	263,500	1200	32
17299 LAKE HAVED DR	DETACHED	275,000	295,000	925	5
5665 WASHINGTON CT	DETACHED	447,500	323,500	1928	101
1 EAGLE CREST DR	DETACHED	326,000	324,000	1265	18
3225 TEMPEST DR	DETACHED	448,000	448,000	2231	106
1110 HALLINAN CIR	DETACHED	575,000	450,000	3824	286
1001 BULLOCK ST	DETACHED	499,900	455,000	2008	50
17554 BLUE HERON WAY	DETACHED	475,000	475,000	2000	0
5023 HAMPTON CT	DETACHED	509,900	487,000	2284	151
2425 GLEN HAVEN RD	DETACHED	499,900	511,100	2231	3
12402 SHELBY CT	DETACHED	599,000	544,000	3120	74
3 WALKING WOODS DR	DETACHED	575,000	575,000	3853	86
18910 TERRY AVE	DETACHED	638,800	580,000	4290	73
15470 BOONES WAY	ATTACHED	897,000	850,000	3515	101
17442 RIDGEVIEW LN	DETACHED	1,375,000	1,325,000	5036	198

October 15, 2014October 15, 2014

Louisiana Pacific Siding (LP Siding)

Hello everybody,
I have had my license for almost two months now, and I have learned quite a bit! Today what I am going to talk about is LP siding.
My first clients (as it turns out are my cousin and her husband) have just recently made an offer on a condo. In the weeks leading up to their decision we saw everything from houses, town houses, and other condos. When they first found a house I remember my mother saying:

”Oh… they have LP siding.”

Now let me explain why my mother was hesitant about LP siding, before I go into the decided verdict:

Louisiana Pacific (LP) is a company that was founded in 1973 in Tennessee. This company pioneered the production of oriented strand board (OSB) panels. Which was an alternative to the more expensive plywood and solid wood building materials. OSB panels where sold to building manufacturers and homeowners all across the US.
To make OSB panels Louisiana Pacific would harvest small diameter, faster growing timber rather than old growth, and send the cheaper timber through processing to become wood chips. They would then mix the wood chips with glue and set it into a mold to fit the desired diameter for construction. This saved on time and cost, not to mention LP’s OSB panels where easy to install!
In 1985 OSB panels hit the Northwest markets and where the desired material used to construct siding. Many homes where made with LP’s OSB panels as it was inexpensive, quick, and uniform looking. Unfortunately for us up here in the North West, our climate was not factored into the longevity of the panels, made from woodchips and glue, and years later these OSB panels started to disintegrate. One of the major concerns for homeowners and buyers was that the panels would not only sag into clumps of mush along the exterior of their home, but that the mush would rot and host mold and fungus; later requiring a lot more effort to remove then to install the panels themselves initially.

From 1990 to 2000, LP’s OSB panels where installed into nearly every new construction: as contracting companies where usually outsourced and received their orders to build from out of state, so many companies would use LP siding in an effort to conserve funding. This flourishing action of business can be used to date homes with LP siding within the ranges of the late 1980s all the way through the late 1990s.

So let’s revisit that moment when my mother and I are standing in the driveway of the first home that we showed to my cousin and her husband: The point where we look over the house and notice the little nit-picky things to ensure that the buyer is well-informed about what it is they are likely to purchase. The home was built in 1998 and very clearly had LP siding. LP siding is easy to spot due to its pattern: there is a token ‘wooden knot’ looking print that is used over, and over again on LP planks to make it look like actual lumber. When we brought this up with my cousin we explained the draw-backs of having LP around the exterior of the house. However, this particular house was very well managed. This home had received a good paint job, which ensured that water did not get past the paint to affect the planks. Keep in mind: paint does age just as the rest of the house would, and in the future would require a thorough, waterproof, exterior paint job or complete exterior replacement. One of our suggestions we made for my cousin was to provide a low offer so that they could get the house at a fair price and spend some money on replacing the LP siding.
All in all, LP is not the greatest external material here in the North West. It does well in climates that are dryer and provide low threat for mold or fungus. Though we do not have nearly as much of a threat in mold as other states do (Texas being the leading state for issues involving mold). The North West still deals with fungus, and above all rain, rain, rain, and more rain!

Thank you for reading along with me. I look forward to sharing more with you in the future!

Loving life in Lake Oswego,
Whitney Gregoire

Bibliography:
http://www.homeadvisor.com/article.show.Top-10-Worst-States-for-Mold.14164.html
http://hometownexteriordesigns.com/lp_siding.php
http://en.wikipedia.org/wiki/Louisiana-Pacific

October 14, 2014October 14, 2014

Market Activity October 6 – Oct 12, 2014

Hey all, It’s time to start thinking about Halloween! Looks like things are starting to settle a bit from the busy real estate market we had over the spring and summer. This time around We had 16 new listings, 14 pending sales, and 11 closed/sold properties. Let’s have a look!

Following is the breakdown according to RMLS:

New on Market (Oct 6-Oct 12, 2014)

Address	Type	Price	Bedrooms	Bathrooms	Sqft
86 Kingsgate RD G203	Condo	144,900	2	2	849
5058 Foothills DR	Condo	239,900	2	2	1252
4524 Lower DR A3	Condo	315,000	3	2.5	1650
6360 McEwan RD	Detached	337,000	3	1.5	1450
13197 Thoma RD	Detached	399,900	3	1.5	1640
6550 Childs RD	Detached	400,000	2	2	1346
12836 Sierra Vista DR	Detached	485,000	4	2.5	2166
5830 Sunbrook DR	Detached	575,000	4	2.5	2810
17821 Hillside Way	Detached	589,000	4	3.5	3442
3075 Tolkien LN	Detached	649,000	3	2.5	2667
1287 Bickner ST	Detached	699,500	4	3.5	2665
17171 Lowenberg TER	Detached	747,000	4	2.1	3002
4123 Chad DR	Detached	854,950	4	3.1	3833
15195 Lily Bay CT	Detached	898,000	4	2.5	4099
1920 Glenmorrie DR	Detached	1,199,900	3	3.5	4370
1539 Lake Front RD	Detached	1,399,900	4	3.5	3385

Pending Sales (Oct 6 -Oct 12, 2014)

Address	Type	Price	Bedroom	Bathrooms	Sqft	DOM
4610 Lower DR	Condo	114,900	2	1.5	1260	14
6928 Montauk CIR	Condo	125,000	2	1	960	21
900 Cornell ST	Detached	240,000	3	1.5	1300	4
16266 Lake Rorest BLVD	Detached	369,900	3	2	1860	111
5959 Dove CT	Detached	379,900	2	2	1552	6
4208 Harvey WAY	Detached	399,900	4	2	2132	76
1530 Larch ST	Detached	450,000	3	3	2384	22
804 2ND ST	Attached	459,900	4	3	2224	50
6158 Frost LN	Detached	464,900	3	2.5	2109	32
2584 Park RD	Detached	549,999	4	2	2302	110
18936 Bryant RD	Detached	710,000	4	4	4100	189
1267 Maple ST	Detached	899,000	3	2.5	3388	7
925 Iron Mountain BLVD	Detached	1,119,000	4	3.5	3555	119
3072 Lakeview BLVD	Detached	1,150,000	5	5.5	4030	159

SOLD (Oct 6 -Oct 12, 2014)

Address	Type	List Price	Close Price	Sqft	DOM
18325 SW 65TH AVE	Detached	315,000	278,750	1071	67
466 5TH ST #14	Condo	310,000	310,000	1092	27
19180 Indian Creek AVE	Detached	365,000	342,000	2392	12
16494 Inverurie RD	Detached	349,000	355,000	1200	7
257 C AVE	Detached	449,000	372,000	1600	105
14594 Wilmot WAY	Detached	420,000	410,000	1710	0
811 Sunny Hill DR	Detached	499,999	463,150	2964	53
502 Northshore RD	Detached	849,000	846,000	2834	7
17509 Ridgeview LN	Detached	1,119,000	1,110,00	3938	3
3130 Douglas CIR	Detached	1,448,000	1,448,000	3970	75
199 Furnace ST	Condo	1,950,000	1,800,000	5772	63

October 9, 2014

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.

Another 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

October 1, 2014October 1, 2014

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

September 13, 2014

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 .

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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

September 8, 2014September 8, 2014

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