Category: General

All About Lake Oswego, Oregon real estate topics

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News & Notes

Here are some Market Notes for You~

According to the just-released RMLS Market Action Report for March 2012, the combined area of Lake Oswego and West Linn  reported:

  • 613 Active Listings
  • 205 New Listings
  • 117 Pending Sales
  • 84 Closed Sales
  • An average Sale Price of $373,200.
  • Average Time on the Market: 152 Days

Also:

For the Portland Metro Area…………….

  • March 2012: Combination of fewer new listings & more closed sales = lowest unsold inventory since June 2007
  • 1st quarter 2012 as compared to 2011 shows increase of 12.2% in Closed Sales
  • 1st quarter 2012 as compared to 2011 shows increase of 18.2% in Pending Sales
  • 1st quarter 2012 as compared to 2011 shows decrease of 12% in New Listings
  • If you compare March to the previous month of February 2012, Closed Sales grew by 34.2%,
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Happy Easter ~ No Open Houses

Easter Greetings from The Property Blotter.

According to RMLS there are no Open Houses in Lake Oswego this Easter.

Take a day to enjoy friends and family, and perhaps to ponder new and wonderful things in your life….

I’ll bet you can find several!

Enjoy!

 

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News & Notes

What’s Happening in Lake Oswego? ~

 

* “Connected Community” Open House –  April 12th 4-7PM ~ The “We Love Lake Oswego” Comprehensive Effort is holding an Open House at the West End Building to hear your thoughts on how you could be best helped as you maneuver around Lake Oswego and to & from other metro locations.  You’ll have a chance to talk with staff and citizens participating in the Transportation Advisory Board. Share your thoughts on safety, walking, biking, roadways, public transit and more.  If you won’t be able to participate in person, you may share your ideas HERE.

*Hop at the Hunt ~  Saturday, April 7th, 11 AM, 2725 Iron Mtn. Blvd. – Fun!  Lake Owego’s Family Egg Hunt at the Lake Oswego Hunt Club will feature Easter Bunny Otis and friends, Lake Oswego Fire Truck, Pony Rides, Police Cruiser, Barn Tours, “Bella” the rabbit, Hot Cocoa Treasure Eggs, and an Egg Recycle Station. There will be a giant Chocolate Bunny given away, so remember to register at the entrance!  or for more information call:  503 636 0674.

*  Monday Morning Bird Walks ~ 7 AM during April in Tryon Creek ~ Join Audubon volunteer Rick Wagner for these fantastic adventures and learn the songs of common resident species among other things.  The walks begin at the Nature Center, 1132`1 SW Terwilliger Blvd. and are free & open to the public. To learn more click HERE.

* Bunkers Clubhouse Cafe ~ 9 AM – 5PM, Tues – Sun, Lake Oswego Golf  Course ~ The awaited Opening has arrived!  Be sure to be part of the fun as golfers and Lake Oswegans enjoy this new venue in a most popular spot.

Some Thoughts on Easter   : )  ~

At this time of year we start to see the blossoms on the trees, and the nascent sprouts of bulbs coming up from the ground for air, and to bloom for our (and their) pleasure.  We look at our neglected yards and start to daydream about plants to install decoratively and functionally (have you noticed how raised bed “victory” gardens have become the norm almost everywhere ???  I think this is so wonderful : )  We start to sneeze, and try to remember what alleviated our allergy symptoms last year.  As we drive down the street we notice more & more “for sale” signs as those who want to make a change of some sort venture forth (now is a great time to beat the onslaught of new listings to come, by the way).  Those of us planning vacations are booking flights online to get the best prices. Those of us who have awoken from a long winter slumber to new love or a new job or new anything are practically chirping with the birds as we greet the day in early morning hours…. and that is the biggest thing about this time of year.  Newness.  Everything seems new.  Look around… you might even see sunshine and blue skies as we get ready for the heavenly months to come in our beloved Oregon locale.  My only message here is to notice… Notice the newness in your life, and savor it.  Take advantage of it.  Live this day for the New day that it is. It will not come again.

Happy Easter!

Linda & Dianne

 

 

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News & Notes

Here are some Market Notes for You~

According to the just-released RMLS Market Action Report for February 2012, the combined area of Lake Oswego and West Linn  reported:

  • 572 Active Listings
  • 157 New Listings
  • 128 Pending Sales
  • 62 Closed Sales
  • An average Sale Price of $397,000.
  • Average Time on the Market: 152 Days

Also:

For the Portland Metro Area…………….

  • February 2012 showed the lowest inventory (6.5) since 2007
  • Closed Sales rose 17.5% from February 2011,
  • and Pending Sales increased 32.5%,
  • but there were 13.6% fewer Newly Listed residential properties
  • If you compare February to the previous month of January 2012, Closed Sales grew by 3.1%,
  • and Pending Sales increased 15.7%.
  • New Listings dropped  4.6%.
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News & Notes

What’s Happening in Lake Oswego? ~

 

* Open City Hall Re: Tri Met Changes –  TriMet is going through a budgeting process, and there are potential impacts to Lake Oswego citizens using bus lines 36, 37 & 38.   CLICK HERE to access information and give your input!

* Capital Improvement Plan Open House – March 8th 5-7PM, City Hall~  See what projects are included in the Fiscal Year 2012-13 to 2016-17 draft funding plan. Some include repaving A Avenue and Kerr Parkway and completing Rosemont Trail. There is also talk of correcting water drainage issues on Rockinghorse Lane. Call Anthony Hooper at 503-697-7422  for more information.

*Adult Community Center (ACC) Happy Hour/Open House ~  Sunday, March 18, 1-4 PM, 505 G Ave – Fun!  Come join other Lake Oswegans and lean about new programs while listening to the musical stylings of  the Old Time Fiddlers on the upper level and singer-guitarist Tom Stroud in the café  (tell Tom I said “Hi” in case I can’t make it : ). CLICK HERE   for more information.

* Daylight Savings Begins! – March 11th, 2 AM  ~  Make sure to move your clocks ahead by one hour so that you are on time for the ACC Happy Hour… and of course on time to work!

 

Some Thoughts on Real Estate  ~

 

* Short Sales and You –  Short Sales have become part of the landscape in real estate. If you become involved in a short sale transaction, make sure to go over the details with your Realtor.  There are differences in how many are presented in RMLS after a Seller accepts your offer. Specifically, sometimes the Listing will be held in the “Active” section until the lien holder(s) (banks) come to agreement with you.  Sometimes you can achieve a change to “Pending” status which reduces the chance of others offering during your open transaction.

Earnest Money Checks – Again, in short sale transactions most Buyers are advised that they are likely in for a long haul as they wait for responses and red tape to be processed.  ***This does NOT mean that your earnest money check can be less than “good” when you hand it to your Realtor.  Your earnest money check will be held (usually by escrow, but sometimes in a client trust account), but in any event, essentially “cashed” and deposited in a safe place awaiting mutual acceptance with the lien holders, Seller and you.

Loan Officers – When setting out to buy a home, talk with your Realtor about options for reputable Lenders.  A good Lender is a crucial asset in the home-buying process.  A less-than-stellar loan officer can throw the entire train off track. Things you might assess include:

  • Expertise,
  • Types and Sources of Funds,
  • In-House Lending Options,
  • Availability and Accessibility of the Loan Officer (i.e., if you call on Saturday or Sunday and need a customized Approval Letter, will he/she be there for you?),
  • Is there a Good Relationship between your Realtor and the Loan Officer (remember… we are all humans, and loyalty comes into play naturally when a relationship exists…. that can work to your advantage when the going gets tough and perhaps extra attention or late hours are required to get the job done), and lastly,
  • Is Mortgage Lending what they do “Primarily”?   (Sometimes, especially in banks, someone can be charged with handling loans as a side-duty in addition to many others…..  You want an expert.)

Hope this information is helpful!

Very Best,

Linda

 

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Open Houses 3/4/12

There are 19 houses scheduled to be open this Sunday. Enjoy.

18630 Kristi Way, $299,900, 3 BR, 2 Bths, open 2 to 4

4573 Oakridge Dr, $374,900, 3 BR, 2.5 Bths, open 11 to 2

5206 Royal Oaks Dr, $379,900, 5 BR, 3.5 Bths, open 1 to 4

5490 Royal Oaks Dr, $389,000, 3 BR, 2 Bths, open 1 to 3

4525 Trillium Woods Lot 16, $409,900, 3 BR, 2.5 Bths, open 11 to 2

4571 Oakridge Rd Lot 32, $419,900,, 3 BR, 2.5 Bths, open 11 to 2

13020 Princeton Ct, $429,000, 4 BR, 2.5 Bths, open 1 to 4

2357 Hillside Ln, $474,900, 5 BR, 3 Bths, open 1 to 3:30

17930 Meadowlark Ln, $499,900, 4 BR, 4 Bths, open 1 to 3

7 Mountain View Ln, $559,950, 5 BR, 2.5 Bths, open 1 to 4

13226 Rogers Rd, $589,000, 5 BR, 2.5 Bths, open 1 to 3

17802 Treetop Ln, $599,000, 4 BR, 3.5 Bths, opn 1 to 3

15633 Fieldstone DR, $618,950, 4 BR, 2.5 Bths, open 12 to 2

5533 Fieldstone Ct, $628,950, 4 BR, 2.5 Bths, open 12 to 2

5604 Grand Oaks Dr, $649,000, 5 BR, 3 Bths, open 2 to 5

14066 Edenberry Dr, $795,000, 5 BR, 3.5 Bths, open 1 to 3

18231 Siena Dr, $994,000, 4 BR, 3.5 Bths, open 12 to 2

18132 Siena Dr, $1,125,000, 4 BR, 3.5 Bths, open 12 to 2

18202 Bella Terra Dr, $1,145,000, 4 BR, 3.5 Bths, open 12 to 2

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News & Notes

Here are some Market Notes for You~

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

  • 589 Active Listings
  • 153 New Listings
  • 97 Pending Sales
  • 75 Closed Sales
  • An average Sale Price of $364,800.
  • Average Time on the Market: 176 Days

Also:

  • For January 2012, Average Sales Price for the Portland Metro area ($249,100) was virtually unchanged as compared to 2011 ($248,900)
  • For January 20121 as compared to 2011, Closed Sales increased by a whopping 18.3%
  • and Pending Sales increased by 22.4%,
  • but there were 16.5% fewer Newly Listed residential properties
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News & Notes

What’s Happening in Lake Oswego? ~

* Really Local Weather –   Three new weather stations installed at City Hall, the Golf Course and Westlake Fire Station are now recording temperature, wind speed & direction, relative humidity, dew point, soil moisture, soil temperature, precipitation and Evapo-transpiration.   CLICK HERE to access current local weather info.

* Portland International Film Festival in Lake Oswego – Feb. 10-16~  The Bank of Lake Oswego and The City of Lake Oswego are sponsors of the festival, and 16 films will be shown in Lake Oswego.  The festival showcases more than a hundred films around the world.  To see showtimes, location & purchase tickets CLICK HERE.

*Virtual Summit – To see the information presented at the Feb 2nd summit, and to add your own thoughts on “inspiring spaces & places”, and “Complete Neighborhoods & Housing”  CLICK HERE  .  The deadline for submitting comments is Feb 12th.

* Lake Oswego Rides Mink River – Feb 18th  ~  Join Mayor Hoffman for a themed bike ride that visits some of the city’s public work sites and runs along the river winding through Sister of the Holy Names & to the Art Spot. Gather at 9:45 for a 10:00AM bike ride at Millennium Plaza Park.  The ride is 10 miles, and registration is completed by calling 503 675 3730.

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News & Notes

Here are some Market Notes for You~

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

  • 601 Active Listings
  • 103 New Listings
  • 84 Pending Sales
  • 104 Closed Sales
  • An average Sale Price of $456,200.
  • Average Time on the Market: 166 Days

Also:

  • For the Year, Average Sales Price for the Portland Metro area overall fell 6.7% as compared to 2010
  • For December 2011 as compared to 2010, Closed Sales increased by 10.3%
  • and Pending Sales increased by 19.3%,
  • but there were 11.7% fewer Newly Listed residential properties

 

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Bouncing on the Bottom

I know this is risky. There are all sorts of possibilities that I’ll be wrong and you will be able to come back to me a year from now with “It’s only gotten worse. You were WRONG.” But I am going to take the risk and put this in writing. I think that the housing market is bouncing on the bottom. If there is downturn yet to do then I think it will be minor. And there is even a chance that there will be upturn.
No, I’m not a Nationally recognized economist. Really, what do I know? What I know is that I am down here in the trenches living in this house market. And I see 2 signficant changes.
First, the cash investors are out buying BIG TIME. I am working with 2 cash buyers right now both wanting entry level houses of $150,000 or less. This is partly due to low house prices as compared to high rent rates making the return on rentals look good. But this is the same formula that will turn renters into home buyers. It’s starting to make sense to buy entry level houses because the rents are now getting as high or higher than a house payment.
Second, when I show property I am now finding that more and more houses are going pending. It’s like Christmas is over, the prices and interest rates are incredibly low, so now is the time. Lockbox activity (meaning the number of times lockboxes are opened by Realtors to access listings)has skyrocketed. It always goes up after the holidays, but not like I’ve seen it in the last two weeks.
I am also seeing more positive economic news in the media, including this short article from the Oregoninan on January 10, 2010:

Home values in Portland are predicted to rebound
Portland-area home values fell 3.5 percent during 2011 but are expected to stabilize and even post an increase in 2012, real estate research firm Clear Capital reports.
The California company forecasts a 1.9 percent increase in home values in the Porltand-Vancouver-Beaverton area.
In the company’s ranking of 50 major metro areas’ home prices, that moves Portland from No. 27 in 2011 to No. 14 in 2012. Exactly half of the markets are expected to post home price increases. The Portland market is also among 20 considered to be stable in 2012 with predicted increase or decrease of less than 2.5 percent.
The company also reported 15.5 percent of homes sales in 2011 were bank-owned forcloseures.
U.S. home prices fell 2.1 percent in 2011 and are expected to gain 0.2 percent in 2012, the firm reports.
The Seattle area was one of the hardest-hit markets in 2011, posting a 15.1 percent decline in prices. Clear Capital predicted the city’s real estate would lose 7.5 percent in 2012.

Certainly time will tell. I understand I might be wrong, wrong, wrong. But there is also a pretty good chance that I am right. We will see…
Dianne