Category: General

All About Lake Oswego, Oregon real estate topics

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News & Notes

What’s Happening in Lake Oswego?

* Writing an Ethical Will / A Family Legacy – Marcia Liberson, and ethicist and social worker will lead a 2-part program at the Adult Community Center. It will include personal reflections from your life, and will incorporate values, dreams, advice & promises to share with your family and loved ones.  Nov 2 & 9 from 10AM-12PM

* Community Culture Summit – Enjoy appetizers and discuss Lake Oswego’s Community Culture as a part of the city;s Comprehensive Plan.  5:30PM, November 3rd, at Lake Oswego High School.  For more information CLICK HERE.

* Watercolor Painting Exhibit – There will be an exhibition of Rudy Stevens’ students art at teh West End Building on Nov. 4th from 6-9PM.  The West End Building is located at 41-1 Kruse Way.  Enjoy appetizers and meet the artists!

* Lake Oswego Emergency Preparedness Expo – James Roddey, and aware-winning educator, will share information about how to [prepare today for potential disasters of tomorrow. He will speak on “The Big One” regardingn the apparent inevitability of a major NW earthquake and how to prepare for it, among other preparedness topics such as food and water storage, emergency kits, CPR and more.  November 5th, 1-5PM at the Church of Jesus Christ of Latter Day Saints, 14903 Westlake Drive.

* Friends of Iron Mountain / Invasive Species Removal Day – Bring your shovel and gloves to the Brookside Trailhead on Iron Mountain Blvd. Refreshments will be served, and you will be joining with your neighbors to really make a difference in Lake Oswego.  November 6th from 1-3PM.

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News & Notes

* Watershed Health Open House – Oct. 22nd at Hazelia Field/Luscher Farm – Come and learn more about the city’s work to improve watershed health and water quality and how you can help.  There will also be pumpkin decorating activities for kids!

* Drug Take-Back Day – Oct 29, 10AM – 2PM  at the Lake Oswego Adult Community Center/505 G Ave. – Dispose of your unwanted or expired medications.

* Foothills Framework Plan –  The draft is available HERE.  Learn more about the city’s efforts to put a plan together that transforms the 107-acre area into a vibrant, river-front  neighborhood for housing and businesses.  Click HERE to learn more about the project and what’s behind it.

* Help Meals on Wheels – During the month of October you can help deliver a healthy lunch to a home-bound senior by choosing to add the cost of 1, 3 or 7 meals to your grocerey bill at New Seasons Market in Mountain Park!

Here are some Market Notes for you~

According to the RMLS Market Action Report for September 2011, the combined area of Lake Oswego and West Linn  reported:

  • 773 Active Listings
  • 156 New Listings
  • 101 Pending Sales
  • 82 Closed Sales
  • An average Sale Price of $474,800.
  • Average Time on the Market: 166 Days
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News & Notes

Dianne and I wish you the VERY BEST as we feel the seasons start to change.  Enjoy all of it… every little bit!

Here are some Market Notes for you~

According to the RMLS Market Action Report for August 2011, the combined area of Lake Oswego and West Linn  reported:

  • 809 Active Listings
  • 160 New Listings
  • 106 Pending Sales
  • 114 Closed Sales
  • An average Sale Price of $449,200.
  • Average Time on the Market: 167 Days
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Realtor 101

One of the most basic components of being a good Realtor is understand just who I work for. As I work with a client I find myself going back to this concept again and again. Let’s face it, a real estate transaction requires a tremendous amount of negotiation. For both the buyer and the seller, the sale is likely one of the largest and most important financial endeavors that they will do. So it has to be done right, and to their satisfaction. What I want has pretty much nothing to do with it.

So think about that. A Realtor is in a job where what they want is not important.

Fiduciary Duty
Fiduciary duty is the relationship that exists when one person puts faith and trust into another person to act on their behalf. Realtors have fiduciary duty to their clients. This is such an important element in real estate.

In a transaction I find myself thinking about my clients and their needs constantly. Will this be good for them? Will this help? Is this what they want? Often it means telling them hard information that I know will likely make them not want a house. It can mean causing a transaction to fail so that we go out and begin again. That is not necessarily good for me, but it is certainly good for my client. It’s the right thing to do.

Real Estate Agency
In Oregon we have buyer’s agents, seller’s agents, and dual agents. This was not always the case. Prior to about 1994, all Realtors worked for the seller. So even when I worked with buyers showing them houses, writing up an offer, and negotiating repairs, I was really working for the seller. It was strange.

The advent of buyer’s agency allowed Realtors to work exclusively for the buyer. This means that the Realtor who is a buyer’s agent is committed to the best interests of the buyer. It also allowed seller’s agents to do the same for the seller.

We also have what is called dual agency. This happens when a Realtor is working with a buyer who wants to buy one of that Realtors listings. In this circumstance, the Realtor would be representing both the buyer and the seller. This can only happen if both the buyer and the seller give their approval. The Fiduciary duty does not change. A dual agent must still maintain confidences about things like price and work to see to the best interests of both clients. This does not happen very often. I think in my 24 years as a Realtor I’ve done it half a dozen times.

Dual agency can also happen when a buyer’s agent sells a house that is listed by another Realtor in their office. This is because most Realtors do work in offices with multiple agents who are supervised by a Principal Broker. That Principal Broker reviews all of the paperwork of every transaction and offers supervision and guidance to the Realtors in that office. So the buyer’s agent and the seller’s agent remain just that, but the Principal Broker becomes a dual agent.

Please forgive me if this is all pretty dry. It’s the sort of thing that is not particularly exciting. But I think it is incredibly important and one of the backbones of my career.

Have a great day and thanks for reading the blotter.
Dianne

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Market Activity ~ Sept. 5-11, 2011

There were 20 New properties entering the market, 19 in Pending status, and 7 marked as Sold during the last week according to RMLS.
See below for further details:

NEWLY LISTED (Sept. 5-11 2011)

Address List Price # Beds # Baths Total SF Prop Type
96 GALEN ST $53,900 1 1.1 552 CONDO
450 S STATE ST $119,000 2 1 800 CONDO
4 TOUCHSTONE 123 $129,950 3 2.1 1351 CONDO
200 BURNHAM RD $149,000 1 1 948 CONDO
5054 FOOTHILLS DR H $199,500 3 2 1252 CONDO
4752 REMBRANDT LN $288,900 3 2.1 1516 DETACHD
1764 CONIFER DR $319,900 3 1 1200 DETACHD
1639 WORTHINGTON ST $350,000 4 3 1920 DETACHD
2545 ORCHARD HILL LN $365,000 3 2 2160 DETACHD
17040 FERNWOOD DR $369,000 3 2 1919 DETACHD
1645 ASPEN ST $419,999 3 2.1 1916 DETACHD
4527 TRILLIUM WOODS Lot 15 $441,150 3 2.1 2211 ATTACHD
908 CUMBERLAND PL $474,900 4 3 2715 DETACHD
2 MORNINGVIEW CIR $485,000 3 2.1 2954 DETACHD
2834 GLENMORRIE DR $499,000 3 2.1 2459 DETACHD
15564 VILLAGE DR $749,000 3 2.1 3249 DETACHD
4011 WESTBAY RD $950,000 5 3.1 4518 DETACHD
13877 AMBERWOOD CIR $999,000 4 2.1 3949 DETACHD
13701 GOODALL RD $1,899,000 4 4.1 6028 DETACHD
1500 NORTHSHORE RD $11,600,000 5 6.2 13462 DETACHD

PENDING SALES (Sept 5-11, 2011)

Address List Price # Beds # Baths Total SF Prop Type CDOM
3676 SPRING LN 2C $139,900 2 2.1 1762 CONDO 36
72 GREENRIDGE CT $150,000 3 3 1825 ATTACHD 288
4473 GOLDEN LN $155,000 2 2.1 1980 CONDO 320
16443 INVERURIE RD $180,000 4 2 1480 DETACHD 9
4760 LOWER DR $229,900 3 3 2324 DETACHD 21
55 NORTHSHORE RD $289,000 1 1 1554 CONDO 18
4677 OAKRIDGE RD Lot 04 $369,900 3 2.1 1738 ATTACHD 97
1736 PALISADES TERRACE DR $399,000 4 3.1 3079 DETACHD 70
14 HOTSPUR ST $399,000 4 2.1 2626 DETACHD 5
3601 WREN ST $399,900 3 2.1 2220 DETACHD 154
18207 WESTMINSTER DR $409,900 4 2.1 2258 DETACHD 24
5842 MEADOWCREEK CT $449,900 3 2.1 2309 DETACHD 7
5686 CHARLES CIR $499,900 4 3 3246 DETACHD 6
19285 MEGLY CT $509,900 5 3 3275 DETACHD 203
4184 Sunset DR $529,000 5 3 2932 DETACHD 164
19 JUAREZ ST $550,000 3 2.1 3584 DETACHD 190
5511 FIELDSTONE CT $623,950 4 2.1 3037 DETACHD 629
556 5TH ST $659,000 3 3.1 2166 ATTACHD 208
1633 MAPLE ST $799,000 3 3 3448 DETACHD 161

SOLD (Sept 5-11, 2011)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
15380 TWIN FIR RD $339,900 $315,000 3 3 1865 DETACHD 44
5795 LANGFORD LN $349,500 $334,000 2 2 1687 DETACHD 9
18927 KRISTI WAY $424,000 $424,000 4 2 2943 DETACHD 13
17267 KELOK RD $599,900 $560,000 3 2 2340 DETACHD 40
4158 CASEY CT $719,000 $689,500 4 2.1 3385 DETACHD 392
2811 ARROWHEAD CT $1,250,000 $880,000 4 3.1 3740 DETACHD 419
2735 GLEN EAGLES RD $1,098,000 $975,000 3 3.1 2950 DETACHD 85

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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Open Houses ~ Sunday, Sept. 11, 2011

What a lovely weekend!  Put some ice & lemonade in your water bottle & head out to enjoy some of these beautiful homes being held Open!

Here is what’s going on according to RMLS:

Address L/Price # Beds # Baths Total SF Style Open
7 BRITTEN CT $250,000 4 2 2046 TOWNHSE 1-3PM
55 NORTHSHORE RD #4 $289,000 1 1 1554 TOWNHSE 1-3PM
1050 SUNNINGDALE RD $375,000 3 1.2 1616 DETACHD 2-5PM
29 BECKET ST $384,900 3 2.1 2354 DETACHD 1-3PM
1991 GREENTREE RD $399,999 4 3 2655 DETACHD 1:30-4PM
1645 ASPEN ST $419,999 3 2.1 1916 DETACHD 1-3PM
14361 SHERBROOK PL $449,900 3 2.1 2100 DETACHD 2-4PM
12 SCARBOROUGH DR $464,900 4 2.1 2892 DETACHD 1-3PM
4 NANSEN SMT $479,900 4 2.1 3255 DETACHD 12-2PM
29 SPINOSA $525,000 3 2.2 3254 DETACHD 1-4PM
919 LAKE SHORE RD $569,000 3 2 1817 DETACHD 1-3PM
629 IRON MOUNTAIN BLVD $615,000 3 2 1988 DETACHD 1-4PM
17997 BRAEDEN CT $619,749 3 3 2984 DETACHD 1-4PM
5533 FIELDSTONE CT $633,950 4 2.1 3115 DETACHD 12-2PM
1931 PARK FOREST CT $649,900 6 4.1 3866 DETACHD 12-3PM
15622 FIELDSTONE DR $678,950 3 2.1 3113 DETACHD 12-2PM
14231 Dolph CT $685,000 4 2 2580 DETACHD 1-4PM
17090 CHAPIN WAY $839,500 3 3 3480 DETACHD 12-3:30PM
1104 FOREST MEADOWS WAY $1,495,000 4 3.1 5756 DETACHD 2-4PM
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News & Notes

  • September 11th Memorial – The city will be holding a Memorial at Millennium Plaza Park on Sunday, September 11th from 1 – 2PM.  Fire and police personnel will recite all the names of all the public safety people who perished that day.  Fire stations will all set off tones at the precise moment the towers fell 10 years ago as well.  This is a time of remembrance and respect as the city offers a way for citizens to join together and participate.
  • “Organically Grown in Oregon” Week – Luscher Farms will be holding an Open House on Saturday, September 17th from 10AM – 3PM.  There will be a Tilth plant sale, kids activities, tours, free demos and organic treats!  This is an opportunity to visit with farmers from the Community Supported Agriculture program and to hear from Tilth experts.  Check out the chickens, the tractor and the Children’s Garden!
  • The Mayor’s First Annual Community Bike Ride – The new Chief of Police, Don Johnson and Mayor Hoffman will take families on a 12-mile ride around Lake Oswego Sunday, September 18th.  They promise to show participants a new perspective on the city.  Sounds like fun!  Click HERE for more info.
  • Why Do You Attend the Lake Oswego Farmers Market? – How does the market impact your life?  Click HERE to join in the conversation and read others’ comments.

According to the RMLS Market Action Report for July 2011, the combined area of Lake Oswego and West Linn  reported:

  • 870 Active Listings
  • 173 New Listings
  • 109 Pending Sales
  • 94 Closed Sales
  • An average Sale Price of $494,000.
  • Average Time on the Market: 149 Days
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Enjoy These Last Days Of Summertime

The kids are getting ready for school, and even though Lake Oswego has such fantastic schools and we love them so much…. you can hear the sighs and see the minivans hitting the road packed to the gills, and last-minute weekend trips to the coast or elsewhere taking precedence over “normal life”.  Here in Lake Oswego, we are taking advantage of every last minute of precious summertime, and we hope that you are too!

Happy Summertime, and be safe in your travels!

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Open Houses ~ August 14, 2011

It should be a lovely day to tour Open Houses!

Here’s what is on the line-up according to RMLS.

Enjoy!

Address L/Price # Beds # Baths Total SF Style Open
18150 BRYANT RD $309,000 3 2 1468 DETACHD 12-3PM
1561 WOODLAND TER $350,000 3 2.1 2184 DETACHD 3-5PM
18538 DEERBRUSH AVE $429,900 4 3 2593 DETACHD 1-5PM
12 SCARBOROUGH DR $464,900 4 2.1 2892 DETACHD 1-3PM
17177 CHAPIN WAY $479,000 3 2 1764 DETACHD 1-3PM
4 NANSEN SMT $479,900 4 2.1 3255 DETACHD 12-2PM
3815 SOUTHSHORE BLVD $538,000 4 2 2638 DETACHD 2:30-4:30PM
919 LAKE SHORE RD $599,000 3 2 1817 DETACHD 1-3PM
2011 RIDGEWOOD LN $615,000 5 3.1 3012 DETACHD 12-2PM
5511 FIELDSTONE CT $623,950 4 2.1 3037 DETACHD 2:;30-4:;30PM
5533 FIELDSTONE CT $633,950 4 2.1 3115 DETACHD 2:30-4:30PM
15622 FIELDSTONE DR $678,950 3 2.1 3113 DETACHD 2:;30-4:30PM
5015 DENTON DR $699,900 4 2.1 3309 DETACHD 11AM-1PM
17426 BERGIS FARM DR $894,500 4 3.1 4444 DETACHD 12-2PM
18308 MEADOWLARK LN $1,425,000 4 3.3 7341 DETACHD 2-4PM
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News & Notes

*JOBS: Moving to Lake Oswego and looking for a job?

– The City of Lake Oswego has several openings.  Check them out HERE.

– Parks and Recreation job openings can be found HERE.

* BANK-OWNED PROPERTIES: Dianne and I work with a wide array of clients, and each client is different; looking for a solution to their own unique circumstance.  That said, one thing that everyone seems to ask about these days is “bank-owned” or REO properties.  Yes, these are available in Lake Oswego, and the appeal is that they are almost always under market value.  These properties have either gone through the short-sale phase unsuccessfully (they didn’t sell while listed as short-sale), or have just gone straight back to the bank and therefore appear as a new property on the market where the Seller is the Bank.

I usually talk with clients about the fact that they are really looking for a *home* that meets their needs… both monetary and otherwise (location/school/amenities/lot size/number of bedrooms & other criteria), and so I focus on the whole picture as there are so many good “deals” on the market right now whether they are bank-owned or not.  AND, bank-owned properties, if they fit your other needs, are a great resource when you’re looking at the financial side.

Below you’ll find the bank-owned properties on the market in Lake Oswego right now, as well as the ones that have Sold in the last 30 days.  I included some basic directions in case you wanted to drive by and see if any of these interest you. ***Of course, do not drive in the driveways or otherwise disturb the new owners of the ones in the “Sold” category : )

To answer a question that always seems to come up: If a house shows a lower List Price than Sold Price this can have multiple reasons including seller-paid concessions (closing costs etc), multiple offers & therefore “bidding up” on price, etc.

Hopefully this is a good reference-resource for you. Happy August!

Address List Price Sold Price # Beds # Baths Total SF Style Directions
ACTIVE BANK-OWNED:
13990 SHIREVA CT $245,000 3 2 1651 RANCH Country Club to Shrieva Loop to Shrieva Court.
6218 NOKOMIS CT $257,900 4 2 1512 RANCH Childs or McEwan to Longfellow to Nokomis Ct
5206 ROYAL OAKS DR $449,900 5 3.1 2801 TRAD Carman to Waluga Drive to Royal Oaks Drive
18014 GIMLEY CT $539,900 5 3.1 4355 TRAD Southshore to Royce Way to Westview Dr. to Gimley Ct.
4158 CASEY CT $719,000 4 2.1 3385 TRAD Bryant Rd right on Chad right on Melissa right on Casey Ct
17460 WREN CT $940,000 4 3.1 3305 TRAD South Shore, South on Cedar to Wren St, left on Wren Ct, to end
17860 CRESTLINE DR $1,400,000 4 5.2 6810 CAPECOD Bergis to Skylands, to Crestline
SOLD BANK-OWNED in LAST 30 DAYS:
17950 KELOK RD $199,900 $226,000 3 2 2376 DAYRNCH Bryant/Childs/Kelok-Hillside
785 3RD ST $248,000 $290,150 2 1 1856 COTTAGE A Avenue to 3rd
190 FURNACE ST $700,000 $686,700 5 4.1 4022 CRAFTSM State to Leonard to Furnace