Category: Market Activity

Real Estate Market Statistics for Lake Oswego, Oregon

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Market Activity for May 31 to June 6, 2010

Last week found 16 new listings, 13 pending sales, and 7 closed sales. I would have to say that it was a bit of a celebration week for many of the sellers who closed transactions. This group of homes included quite a few that had been on the market for an extremely long time. It is good that they were sold, finally. And the closed selling prices were certainly reflective of the new reality with values. I feel that is further reflected in the pricing with the new listings, many of which look to be really good values.

Here is last week’s report: (see below the tables for additional notes):

NEWLY LISTED (May 32-June 6, 2010)

Address List Price Year Built Total SF Prop Type BR & BTH
37 CRESTFIELD CT $94,900 1980 923 CONDO 2 & 1
200 BURNHAM RD $219,000 1966 1,173 CONDO 2 & 2
74 GREENRIDGE CT $289,900 1973 2,868 ATTACHD 3 & 2.5
37 BLOCH TER $314,500 1972 1,972 ATTACHD 3 & 2.5
19431 TUALAMERE AVE $334,000 1964 1,308 DETACHD 3 & 1.5
16725 CARNEGIE AVE $335,000 1968 2,134 DETACHD 3 & 2
1018 HEMLOCK ST $349,900 1965 1,950 DETACHD 4 & 2
1621 LARCH ST $399,900 1971 3,040 DETACHD 3 & 2.5
17387 CANYON DR 479000 1966 1,955 DETACHD 3 & 2.5
1740 YARMOUTH CIR 550000 1985 1,960 DETACHD 2 & 2.5
4 INDEPENDENCE AVE 564900 1969 3,482 DETACHD 4 & 3.5
13596 STREAMSIDE DR 649999 1989 3,430 DETACHD 3 & 2.5
712 LAKE FOREST DR 665000 1949 1,640 DETACHD 2 & 2
15725 TARA PL 665000 2006 3,372 DETACHD 4 & 2.5
14370 PFEIFER DR 669000 1993 3,318 DETACHD 3 & 2.5
144 LEONARD ST 799000 2004 3,451 DETACHD 3 & 1.5+.5

PENDING SALES (May 31-June 6, 2010)

Address List Price Year Built Total SF Prop Type BR & BTH
34 CONDOLEA DR $219,000 1978 1,420 CONDO 2 & 2
12 POLONIUS ST $246,600 1971 3,275 DETACHD 4 & 2.5
4236 HARVEY WAY $359,000 1979 1,870 DETACHD 3 & 2.5
15580 PARTRIDGE DR $360,000 1989 2,245 DETACHD 3 & 2.5
2031 LILLI LN $499,000 1968 3,262 DETACHD 3 & 3.5
17471 CARDINAL DR $545,000 1973 3,056 DETACHD 4 & 2.5
13460 SNOWBERRY CT $564,000 1989 3,327 DETACHD 3 & 2.5
731 F AVE $699,900 1998 2,668 DETACHD 4 & 2.5
331 CHANDLER PL 810000 1962 2,428 DETACHD 4 & 2.5
1580 BONNIEBRAE DR 849000 1972 3,800 DETACHD 4 & 3
3820 SOUTHSHORE BLVD 925000 2008 4,855 DETACHD 5 & 4
3140 DOUGLAS CIR 950000 2004 4,310 DETACHD 4& 3.5
1340 CHERRY LN 1348888 2007 5,922 DETACHD 4 &4.5+.5

SOLD (May 31-June 6, 2010)

Address Closed Price Original Price Year Built Total SF Prop Type CDOM
775 BOCA RATAN DR $155,000 $204,750 1975 2,401 DETACHD 249
200 BURNHAM RD $168,000 $298,850 1962 1,328 CONDO 942
1597 BONNIEBRAE DR $180,000 $230,000 1969 998 ATTACHD 261
1640 WORTHINGTON ST $338,900 $515,000 1961 2,394 DETACHD 473
3075 ROYCE WAY $392,000 $699,850 1975 3,667 DETACHD 577
2109 WEMBLEY PARK RD $640,000 $649,900 1955 3,129 DETACHD 2
17540 RIDGEVIEW LN $1,025,000 $1,350,000 2006 4,345 DETACHD 316

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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Market Activity Report ~ May 24-30, 2010

Happy June to all of our Property Blotter readers! I hope that you enjoyed your holiday weekend, and that a moment was spent in remembering those who have given so much for each of us. Many of us were out enjoying the sunshine & exploring the properties on the market with our clients. I waited till today to post this report so as to hopefully make sure that all transactions have been updated after the long weekend. Lockbox activity appears to still be high. It will be interesting to see the statistics once they’re available for this holiday period.

There were 16 New properties entering the market, 14 going to Pending status, and 12 Sold during last week’s Monday – Sunday period according to RMLS.

Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (May 24—30, 2010)

Address List Price Prop Type # Beds Total Baths Total SF List Date
6927 MONTAUK CIR $139,000 CONDO 2 1 968 5/27/2010
54 CERVANTES CIR $159,000 CONDO 2 1.1 912 5/29/2010
1400 BONNIEBRAE DR $183,500 ATTACHD 2 1 864 5/25/2010
750 1ST ST $185,000 ATTACHD 1 1 986 5/25/2010
12 POLONIUS ST $246,600 DETACHD 4 2.1 3275 5/25/2010
4902 CHILDS RD $315,000 DETACHD 3 1.1 1370 5/27/2010
4664 FIRWOOD RD $379,900 DETACHD 3 2 1640 5/27/2010
864 6TH ST $399,000 DETACHD 5 2.1 2403 5/24/2010
18667 PILKINGTON RD $399,999 DETACHD 4 2.1 2512 5/25/2010
17460 SCHALIT WAY $418,900 DETACHD 4 3 2197 5/28/2010
12 ABELARD ST $420,000 DETACHD 4 2.5 2344 5/27/2010
4500 GALEWOOD ST $475,000 DETACHD 2 3 2408 5/24/2010
975 SOUTHSHORE BLVD $479,900 DETACHD 3 2.1 2118 5/24/2010
5 CELLINI CT $735,000 DETACHD 5 3.1 4895 5/28/2010
1340 CHERRY LN $1,348,888 DETACHD 4 4.2 5922 5/27/2010
3151 DOUGLAS CIR $1,349,000 DETACHD 5 4.2 4400 5/28/2010

PENDING SALES (May 24-30, 2010)

Address List Price # Beds # Baths Total SF Style CDOM
4000 CARMAN DR $99,900 2 2 836 CONDO 77
4610 LAMONT WAY $247,500 3 2 1750 DETACHD 17
3485 DEVONSHIRE DR $264,900 3 2.1 1556 ATTACHD 16
18620 INDIAN CREEK DR $379,900 3 2 2022 DETACHD 30
12748 SW 22ND AVE $425,000 4 2.1 2584 DETACHD 310
1642 HIGHLAND DR $429,000 4 3 2234 DETACHD 44
18893 INDIAN SPRINGS CIR $439,000 4 3 2841 DETACHD 3
12 DA VINCI ST $444,900 4 3 3078 DETACHD 64
15266 CANDLEWOOD CT $464,988 4 2.1 2569 DETACHD 88
19288 SW Megly CT $579,900 5 3 3594 DETACHD 149
14158 EDENBERRY DR $729,000 3 2.1 3205 DETACHD 2
19000 BRYANT RD $965,000 5 3.1 5874 DETACHD 3
670 IRON MOUNTAIN BLVD $1,057,000 4 3.2 5208 DETACHD 555
13081 KNAUS RD $1,795,000 5 2.1 3269 DETACHD 58

SOLD (May 24-30, 2010)

Address O/Price Close Price # Beds # Baths Total SF Style CDOM
200 BURNHAM RD $268,000 $159,000 2 2 1313 CONDO 674
5341 CHINOOK CT $274,900 $240,000 3 2 1120 DETACHD 598
5055 Foothills DR $274,900 $245,000 3 2 1279 CONDO 73
15 BRITTEN CT $274,999 $250,000 3 2.1 1973 ATTACHD 13
5354 LOWER DR $260,500 $250,000 2 1 1201 DETACHD 96
666 3RD ST $299,900 $299,900 3 1.1 1759 DETACHD 7
1921 Park Forest CT $485,000 $415,000 3 2.1 2554 DETACHD 564
14377 CAMDEN LN $499,900 $492,500 4 2.1 2530 DETACHD 2
15837 ALLISON PL $529,000 $510,000 4 2.1 3534 DETACHD 1216
17879 HILLSIDE DR $589,900 $560,000 3 3 3049 DETACHD 187
17443 CANAL CIR $875,000 $750,000 4 3.1 2344 DETACHD 45
19175 EASTSIDE RD $900,000 $764,000 5 4.1 5263 DETACHD 86

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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Market Activity for May 17-23, 2010

The housing market in Lake Oswego included 19 new listings, 15 pending sales, and 14 closed sales. You will probably notice some categories moved/missing/changed. Linda and I use a macro in excell to develop these charts. RMLS has made technical changes that are affecting our macro, which we need to re-work. Thanks for your patience while we get the kinks ironed out. I think the basic data is here.

Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (May 17—23, 2010)

Address List Price # BR SF Up+Mn Prop Type
322 CERVANTES CIR $85,000 2 832 CONDO
512 S STATE ST $129,900 1 829 CONDO
668 MCVEY AVE $149,000 2 976 CONDO
16515 INVERURIE RD $299,000 3 1,772 DETACHD
16808 INVERURIE RD $299,900 3 1,182 DETACHD
14372 CAMDEN LN $448,500 3 2,348 DETACHD
1462 GREENTREE CIR $449,900 4 2,507 DETACHD
8 MORNINGVIEW CIR $529,900 3 2,217 DETACHD
230 4TH ST 619900 3 2,165 DETACHD
13265 FOX RUN 680000 3 2,614 DETACHD
17632 WOODHURST PL 699900 5 – DETACHD
17970 ROYCE WAY 799000 4 2,713 DETACHD
19000 BRYANT RD 965000 5 5,874 DETACHD
1425 CHANDLER RD 978000 4 2,204 DETACHD
1235 CHANDLER RD 985000 5 2,044 DETACHD
17301 BERGIS FARM DR 1060000 4 – DETACHD
2569 GLEN EAGLES PL 1349000 5 4,591 DETACHD
13900 GOODALL RD 1600000 5 4,282 DETACHD
1973 CHERYL CT 1695000 5 4,396 DETACHD

PENDING SALES (May 17-23, 2010)

Address List Price # BR Sq Ft SF Up+Mn Prop Type CDOM
100 KERR PKWY $77,500 2 823 823 CONDO 66
100 KERR PKWY $92,500 2 823 823 CONDO 27
3433 SW MCNARY PKWY $123,900 2 1008 1,008 CONDO 98
32 CERVANTES CIR $129,500 2 1092 912 CONDO 160
136 TOUCHSTONE TER $279,000 3 1996 1,198 DETACHD 243
729 3RD ST $295,000 4 1671 1,671 DETACHD 10
4313 ALBERT CIR $367,900 3 1790 1,790 DETACHD 14
1255 BAYBERRY RD $375,000 3 1901 1,901 DETACHD 253
1400 LEE ST 421500 4 2804 1,514 DETACHD 146
24 PARTRIDGE LN 449000 4 3224 3,224 DETACHD 40
675 10TH ST 490000 4 2280 1,272 DETACHD 374
14158 KIMBERLY CIR 530000 5 3548 3,648 DETACHD 18
1158 BAYBERRY RD 649000 4 2386 2,386 DETACHD 10
1703 VILLAGE PARK LN 749000 3 3450 3,450 DETACHD 156
1414 COUNTRY COMMONS 945000 4 5679 3,082 DETACHD 68

SOLD (May 17-23, 2010)

Address Closed Price Original Price #BR Sq Ft Prop Type CDOM
65 OSWEGO SMT $118,000 $129,900 2 1,140 CONDO 8
5051 FOOTHILLS DR $169,900 $210,000 2 991 CONDO 248
750 1ST ST $178,000 $195,000 2 1,350 CONDO 73
5056 FOOTHILLS DR $257,000 $299,900 2 1,252 CONDO 194
19032 KRISTI WAY $262,000 $259,900 2 1,390 DETACHD 7
4420 GOLDEN LN $295,000 $279,900 3 2,165 CONDO 391
119 3RD ST $350,000 $429,900 3 1,204 CONDO 187
5299 LAKEVIEW BLVD $365,000 $399,900 4 2,165 DETACHD 594
2440 OVERLOOK DR $480,000 $525,000 4 3,874 DETACHD 36
815 COUNTRY COMMONS LN $494,500 $595,000 4 2,376 DETACHD 83
3115 ROSEMARY LN $513,000 $599,900 3 3,324 DETACHD 244
17388 CEDAR RD $575,000 $875,000 2 2,134 DETACHD 402
18125 WESTMINSTER DR $658,000 699888 5 3,969 DETACHD 344
356 9TH ST $1,070,000 $1,275,000 4 3,647 DETACHD 98

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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Market Activity Report for May 10-16, 2010

The housing market in Lake Oswego included 19 new listings, 11 pending sales, and 13 closed sales. You will probably notice some categories moved/missing/changed. Linda and I use a macro in excell to develop these charts. RMLS has made technical changes that are affecting our macro, which we need to re-work. Thanks for your patience while we get the kinks ironed out. I think the basic data is here.

Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (May 10—16, 2010)

Address List Price Year Built Sq. Ft. Prop Type
3433 MCNARY PKWY $125,000 1994 1,136 CONDO
4 TOUCHSTONE $179,000 1970 675 CONDO
18430 PILKINGTON RD $259,000 1973 1,029 DETACHD
244 Greenridge DR $319,000 1974 1,907 ATTACHD
5031 TUALATA LN $329,000 1969 1,492 DETACHD
5973 KENNYCROFT WAY $329,500 1962 1,202 DETACHD
5827 BONITA RD $399,900 2002 1,771 DETACHD
16931 Bryant RD $424,500 1930 1,767 ATTACHD
71 TANGLEWOOD DR 449000 1972 2,616 DETACHD
13364 AUBURN CT 450000 2005 2,371 ATTACHD
464 LIVINGOOD LN 459995 1985 1,454 DETACHD
19451 SW DOGWOOD CT 559900 2010 3,594 DETACHD
8 DEL PRADO ST 599950 1972 1,877 DETACHD
4121 CHILDS RD 789900 2006 3,352 DETACHD
11 HILLSHIRE DR 825000 1990 3,415 DETACHD
3030 WESTVIEW CT 859000 1969 2,635 DETACHD
490 COUNTRY CLUB RD 900000 1938 2,240 DETACHD
2607 PALISADES CREST DR 1000000 1981 – DETACHD
2133 HAZEL RD 1325000 2006 3,965 DETACHD

PENDING SALES (May 10-16, 2010)

Address List Price Year Built Sq. Ft. Prop Type
775 BOCA RATAN DR $180,000 1975 2,401 DETACHD
1960 MAPLELEAF RD $225,000 1965 1,210 DETACHD
729 3RD ST $295,000 1948 1,671 DETACHD
666 3RD ST $299,900 1948 953 DETACHD
18922 REDWING WAY $369,900 1969 2,076 DETACHD
16044 INVERURIE RD $399,000 1942 952 DETACHD
1025 C AVE $408,950 1950 1,263 DETACHD
1055 COUNTRY CLUB RD $449,000 1954 1,552 DETACHD
5711 SOUTHWOOD DR 519000 1990 2,655 DETACHD
106 3RD ST 649000 1957 1,495 DETACHD
17281 LOWENBERG TER 839900 2009 2,996 DETACHD

SOLD (May 10-16, 2010)

Address Original Price Sold Price SF Prop Type CDOM
8 OSWEGO SMT $135,000 $123,000 1140 CONDO 115
1137 SPRUCE ST $258,900 $254,900 1214 DETACHD 7
15256 BOONES WAY $335,000 $284,950 1600 ATTACHD 350
4774 OAKRIDGE RD $339,000 $332,500 2104 DETACHD 220
5 ORIOLE LN $340,000 $341,000 2024 DETACHD 14
4548 BLACK FOREST CT $550,000 $393,000 2157 DETACHD 644
4962 BILFORD LN $439,000 $405,000 2168 DETACHD 106
2251 PRESTWICK RD $407,250 $407,250 2236 DETACHD 3
531 2ND ST $399,000 $412,000 1393 CONDO 57
4705 LAKEVIEW BLVD $529,900 $510,000 2700 DETACHD 7
17644 WOODHURST PL $629,900 $550,000 4509 DETACHD 927
5245 LANGFORD LN $719,000 $709,000 2957 DETACHD 104
1224 TYNDALL CT $849,000 $779,000 4157 DETACHD 306

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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Market Activity Report ~ May 3-9, 2010

There were 28 New properties entering the market, 10 going to Pending status, and 11 Sold during last week’s Monday – Sunday period according to RMLS.

I notice a lot of nice condos & townhomes hitting the market- The one at Oswego Summit has been off the market for awhile & just came back on with a $25,000 drop in price… it’s a beautiful property. Also, of note: I included Greenwood because it just took a $200,000. drop in price. This is a short sale, and is a really unusual place… an old church I believe… nealy 4000 SF with all sorts of potential and lake views for $650,000. Glenmorrie is a bank-owned property on the Willamette River. Sitting on a .89 acre lot, the house needs some fixing but hey, it’s $519,750. It already has multiple offers as I understand it.

Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (May 3—9, 2010)

Address List Price Prop Type # Beds # Baths Total SF List Date
4 TOUCHSTONE $129,000 CONDO 2 2 984 5/5/2010
85 OSWEGO SMT $200,000 CONDO 2 2 1212 5/5/2010
16250 PACIFIC HWY $229,900 CONDO 2 2 1305 5/3/2010
4610 LAMONT WAY $247,500 DETACHD 3 2 1750 5/9/2010
3485 DEVONSHIRE DR $264,900 ATTACHD 3 2.1 1556 5/8/2010
666 3RD ST $299,900 DETACHD 3 1.1 1759 5/7/2010
6301 ALYSSA TER $314,900 ATTACHD 3 2.1 1546 5/4/2010
6317 ALYSSA TER $329,000 ATTACHD 3 2.1 1546 5/3/2010
466 5TH ST $349,900 ATTACHD 2 1.2 1092 5/7/2010
4313 ALBERT CIR $367,900 DETACHD 3 2 1790 5/6/2010
5160 TUALATA LN $369,900 DETACHD 3 2 1470 5/3/2010
5275 ROSEWOOD ST $379,000 DETACHD 4 2.1 2096 5/5/2010
18591 WAXWING WAY $424,900 DETACHD 3 2.1 2145 5/3/2010
5364 ROSEWOOD ST $425,000 DETACHD 4 2.1 1980 5/3/2010
231 LAUREL ST $425,000 DETACHD 3 3 2244 5/9/2010
1055 COUNTRY CLUB RD $449,000 DETACHD 2 2 2528 5/6/2010
13455 AUBURN CT $449,950 ATTACHD 3 2.1 1892 5/3/2010
5490 ROYAL OAKS DR $475,000 DETACHD 3 2 1761 5/4/2010
6 CHURCHILL DOWNS $499,950 DETACHD 5 3.1 2922 5/5/2010
3188 S GLENMORRIE DR $519,750 DETACHD 3 3 3066 5/6/2010
40 MORNINGVIEW CIR $549,500 DETACHD 3 2.1 2164 5/9/2010
5008 HAMPTON CT $594,000 DETACHD 4 2.1 2346 5/5/2010
14 WESTMINSTER DR $599,900 DETACHD 4 3 2768 5/7/2010
1158 BAYBERRY RD $649,000 DETACHD 4 4 2386 5/7/2010
13991 CHELSEA DR $649,000 DETACHD 4 2.1 3357 5/5/2010
156 GREENWOOD RD $650,000 DETACHD 2 2 3918 5/7/2010
4123 CHAD DR $769,950 DETACHD 4 3.1 3836 5/5/2010
620 CABANA LN $1,395,000 DETACHD 3 2.1 2417 5/3/2010

PENDING SALES (May 3-9, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
109 OSWEGO SMT $144,900 2 2 1212 CONDO 47
5051 FOOTHILLS DR $175,000 2 2 991 CONDO 248
5 SUMMIT RIDGE CT $297,500 2 2.1 1576 ATTACHD 58
4251 WOODSIDE CIR $305,950 3 2 2032 ATTACHD 48
16969 ALDER CIR $329,900 3 2 1534 DETACHD 67
454 5TH ST $335,000 2 1.1 1092 ATTACHD 156
18640 TUALATA AVE $349,900 4 3 2076 DETACHD 77
676 9TH ST $435,000 2 1 1850 DETACHD 259
1436 GREENTREE CIR $474,000 4 2 3072 DETACHD 10
610 9TH ST $975,000 4 3.1 3690 DETACHD 575

SOLD (May 3-9, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
15200 BOONES WAY $175,000 $163,400 2 1.1 1248 CONDO 142
210 Durham ST $199,900 $190,000 3 1.1 1318 CONDO 146
17886 TUALATA AVE $415,000 $358,000 4 2 1994 DETACHD 218
533 2ND ST $399,000 $399,000 2 2 1274 CONDO 42
4002 TEMPEST DR $430,000 $430,000 4 3.1 4319 DETACHD 33
5 EL GRECO ST $469,000 $489,000 4 2.1 2455 DETACHD 4
4311 ORCHARD WAY $519,000 $515,000 4 2.1 2916 DETACHD 201
5830 SUNBROOK DR $539,000 $520,000 5 2.1 2810 DETACHD 29
17 SCARBOROUGH DR $579,900 $525,000 4 2.1 3290 DETACHD 24
19203 SW Megly Ct $575,000 $569,900 5 3.1 3595 DETACHD 76
749 SOUTHVIEW RD $899,000 $885,000 4 2.1 3052 DETACHD 4

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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Market Activity Report ~ April 26 – May 2, 2010

Lake Oswego had 22 New properties enter the market, 26 go to Pending status, and 19 Sold during last week’s Monday – Sunday period according to RMLS. Sold Activity was up from the previous weeks (8 Sold last report, 11 the week prior, and 7 the week before that). This is possibly due to the last-minute push to get in under the tax credits timeline. Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (April 26—May 2, 2010)

Address List Price # Beds # Baths Total SF Prop Type List Date
100 KERR PKWY $129,900 2 1.1 868 CONDO 4/28/2010
45 EAGLE CREST DR $145,000 1 1 768 CONDO 4/26/2010
18963 SW LONGFELLOW AVE $319,900 3 1.1 1232 DETACHD 4/26/2010
103 3RD ST $349,900 2 2 1006 CONDO 4/27/2010
1751 ASPEN CT $359,000 3 2 1550 DETACHD 4/28/2010
1480 HEMLOCK ST $399,900 4 3 2246 DETACHD 4/28/2010
16 PARTRIDGE LN $419,000 3 2.1 2304 DETACHD 4/26/2010
26 BRIARWOOD RD $429,000 4 2.2 2564 DETACHD 4/27/2010
15860 BOONES WAY $429,000 3 2 2105 DETACHD 4/29/2010
950 LAKE FRONT RD $439,000 3 2.1 2026 DETACHD 4/30/2010
4954 MULHOLLAND DR $460,000 3 2.1 2498 ATTACHD 4/27/2010
1436 GREENTREE CIR $474,000 4 2 3072 DETACHD 4/27/2010
14158 KIMBERLY CIR $530,000 5 3 3648 DETACHD 4/30/2010
9 WESTMINSTER DR $535,000 4 2.3 3814 DETACHD 5/1/2010
5722 CHARLES CIR $599,900 4 2.1 2674 DETACHD 4/30/2010
2475 MARYLVIEW CT $612,000 4 2.1 3049 DETACHD 4/29/2010
17769 OVERLOOK CIR $659,900 5 3.1 3498 DETACHD 4/27/2010
19125 35TH PL $920,000 4 4.1 5153 DETACHD 5/1/2010
4912 FIRWOOD RD $999,900 4 4 5640 DETACHD 4/26/2010
1115 NORTHSHORE RD $1,489,000 4 4.1 4330 DETACHD 4/26/2010
1335 CHANDLER RD $1,699,000 3 2.1 3988 DETACHD 4/29/2010
3530 LAKEVIEW BLVD $2,950,000 4 3.1 4200 DETACHD 4/28/2010

PENDING SALES (April 26 – May 2, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
7 CRESTFIELD CT $78,000 1 1 689 CONDO 73
38 CERVANTES CIR $99,900 2 1.1 912 CONDO 230
12846 SW BOONES FERRY RD $189,999 2 2.1 1136 CONDO 532
200 BURNHAM RD 169000 – 200000 2 2 1313 CONDO 674
16250 PACIFIC HWY 189000 – 210000 3 2 1761 CONDO 210
16200 PACIFIC HWY $239,000 2 2 1200 CONDO 208
1694 FIRCREST CT $274,900 3 2.1 2015 DETACHD 127
15148 QUARRY RD $279,000 3 2 1618 DETACHD 11
2320 GLEN HAVEN RD $279,900 3 1.1 1346 DETACHD 54
17141 SW BRYANT RD $349,000 3 2 1228 DETACHD 307
15144 BOONES WAY $369,000 4 3.1 2194 DETACHD 8
18620 INDIAN CREEK DR $379,900 3 2 2022 DETACHD 1
13909 MAJESTIC CT $399,900 4 3 3250 DETACHD 51
550 2ND ST $410,000 2 1.2 1520 ATTACHD 110
17942 SAINT CLAIR DR $449,900 4 2.1 2391 DETACHD 139
12409 SHELBY CT $449,900 3 2 2238 DETACHD 12
5008 HARTFORD PL $463,900 4 3 3223 DETACHD 12
15837 ALLISON PL $529,000 4 2.1 3534 DETACHD 1216
13970 TAYLORS CREST LN $584,000 4 2.1 3371 DETACHD 45
17879 HILLSIDE DR $584,900 3 3 3049 DETACHD 187
19266 SW MEGLY CT $589,900 4 3 3575 DETACHD 49
5774 BAY POINT DR $625,000 5 2.1 3674 DETACHD 4
520 C AVE $745,000 4 4 3242 ATTACHD 125
540 C AVE $749,000 4 3.1 3539 ATTACHD 188
17443 CANAL CIR $875,000 4 3.1 2344 DETACHD 45
356 9TH ST $1,125,000 4 3.1 3647 DETACHD 98

SOLD (April 26- May 2, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE $129,000 $125,000 2 2 984 CONDO 24
1950 BONNIEBRAE DR $189,900 $170,000 2 1.1 1056 ATTACHD 91
16149 PEARCY ST $229,900 $227,400 3 2 1250 DETACHD 17
5373 LAKEVIEW BLVD $329,500 $299,000 3 1 2176 DETACHD 201
1650 FIRCREST DR $325,000 $315,000 4 3 2384 DETACHD 537
18156 PIONEER CT $367,300 $326,000 3 2 1558 DETACHD 27
13707 REGENCY CT $399,000 $399,000 4 2.1 2006 DETACHD 18
644 7TH ST $530,000 $410,000 3 2.1 1640 DETACHD 223
13448 AUBURN CT $469,000 $455,000 3 2.1 2535 ATTACHD 131
2650 LOOKOUT CT $495,000 $488,500 4 3.1 3480 DETACHD 8
2545 DELLWOOD DR $579,000 $530,000 5 3.1 3843 DETACHD 948
5783 VICTORIA CT $595,000 $550,000 3 2 2344 DETACHD 14
4668 HASTINGS PL $574,900 $570,000 3 2.1 2630 DETACHD 0
13315 HIDDEN BAY CT $729,000 $633,800 5 2.1 3671 DETACHD 151
4113 WESTBAY RD $631,000 $635,100 2 3 2477 DETACHD 7
1052 TROON RD $659,900 $659,900 3 2.1 2310 DETACHD 1
18430 TAMAWAY DR $889,000 $876,600 4 2.2 3867 DETACHD 59
616 CABANA LN $2,795,000 $2,150,000 5 4 3800 DETACHD 220
1226 NORTHSHORE RD $6,150,000 $6,150,000 3 4.1 5544 DETACHD 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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Lake Oswego Real Estate: Market Activity April 19-25, 2010

Lake Oswego market activity for last week brought us 22 new listings, 21 pending sales, and 8 closed sales. Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (April 19—April 25, 2010)

Address List Price # BR # BTHS Total SF Prop Type List Date
47 EAGLE CREST DR $110,000 2 2 932 CONDO 4/25/2010
115 OSWEGO SMT $170,000 2 2 1,212 CONDO 4/21/2010
218 RIDGEWAY RD $200,000 2 1 914 CONDO 4/23/2010
3892 BOTTICELLI ST $239,900 3 2 1,288 CONDO 4/22/2010
4490 LAKEVIEW BLVD $325,000 3 2 1,727 DETACHD 4/21/2010
4841 SE DAWN AVE $335,000 3 0.2 1,550 DETACHD 4/22/2010
15144 BOONES WAY $369,000 4 3.1 2,194 DETACHD 4/21/2010
5376 ROSEWOOD ST $394,900 3 2.1 2,457 ATTACHD 4/20/2010
12409 SHELBY CT 449900 3 2 2,238 DETACHD 4/20/2010
4859 SAGE HEN WAY 459000 4 3 2,417 DETACHD 4/21/2010
17640 TREETOP WAY 524995 4 3 2,692 DETACHD 4/22/2010
3718 LAKE GROVE AVE 549000 4 3 2,523 DETACHD 4/19/2010
4080 Coltsfoot 569950 4 2.1 2,884 DETACHD 4/19/2010
5774 BAY POINT DR 625000 5 2.1 3,674 DETACHD 4/23/2010
133 FURNACE ST 629000 2 2.1 1,927 CONDO 4/23/2010
17754 TREETOP LN 649000 5 3.1 3,668 DETACHD 4/20/2010
14120 REDWOOD CT 669000 4 2.1 2,755 DETACHD 4/19/2010
16461 CHAPIN WAY 799900 4 2.1 4,271 DETACHD 4/24/2010
4288 LAKEVIEW BLVD 950000 3 2 2,141 DETACHD 4/22/2010
17951 MEADOWLARK LN 1295000 4 3.2 5,065 DETACHD 4/20/2010
1972 CHERYL CT 2590000 5 4.1 6,952 DETACHD 4/22/2010
1617 LAKE FRONT RD 3950000 4 4.1 4,610 DETACHD 4/25/2010

PENDING SALES (April 19 – April 25, 2010)

Address List Price # BR # BTHS Total SF Prop Type CDOM
4000 CARMAN DR $142,000 2 2 973 CONDO 58
109 OSWEGO SMT $144,900 2 2 1,212 CONDO 36
1597 BONNIEBRAE DR $199,900 2 1 998 ATTACHD 46
200 BURNHAM RD $268,000 2 2 1,328 CONDO 942
55 NORTHSHORE RD $275,000 1 1 1,478 CONDO 735
5756 KENNY ST $325,000 3 2.1 1,542 DETACHD 56
627 1ST ST $339,500 2 2 2,090 DETACHD 145
31 DA VINCI ST $362,500 4 2.1 2,232 DETACHD 249
25 CHURCHILL DOWNS 385000 4 3 2,195 DETACHD 0
16200 PACIFIC HWY 388900 2 2 1,208 CONDO 802
3075 ROYCE WAY 395000 4 3.1 3,667 DETACHD 156
827 5TH ST 425000 3 2 2,124 DETACHD 86
1400 LEE ST 427500 4 3 2,804 DETACHD 117
17622 BROOKHURST DR 493000 3 2.1 2,909 DETACHD 42
2650 LOOKOUT CT 495000 4 3.1 3,480 DETACHD 8
5711 SOUTHWOOD DR 539000 4 3 2,655 DETACHD 6
1545 CLOVERLEAF RD 579950 4 3.1 2,723 DETACHD 59
2109 WEMBLEY PARK RD 649900 5 3 3,129 DETACHD 2
18125 WESTMINSTER DR 699888 5 3.1 3,969 DETACHD 244
4211 CHAD DR 874900 5 3.1 3,937 DETACHD 268
3114 DOUGLAS CIR 1395000 4 4 5,420 DETACHD 528

SOLD (April 19- April 25, 2010)

Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
852 5TH ST $199,000 $205,000 2 1 738 DETACHD 131
28 WHEATHERSTONE $230,000 $219,500 3 2.1 1,692 CONDO 145
16890 CORTEZ CT $324,900 $274,900 4 3 2,016 DETACHD 104
1565 BEDFORD CT $429,000 $311,000 3 2 1,978 DETACHD 251
14300 SHERBROOK PL $334,500 $334,500 3 2.1 1,924 DETACHD 141
15921 KIMBALL AVE $389,900 $390,000 3 2 2,309 DETACHD 3
1414 GREENTREE CIR $499,000 $435,000 4 2.1 2,330 DETACHD 37
2688 RIVENDELL RD $835,000 $680,617 4 3 3,720 DETACHD 405

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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Market Activity Report ~ April 12 – 18, 2010

Lake Oswego saw 21 New properties enter the market, 21 go to Pending status, and 11 Sold during last week’s Monday – Sunday period according to RMLS. Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (April 12—April 18, 2010)

Address List Price # Beds # Baths Total SF Prop Type List Date
4459 THUNDER VISTA LN $215,000 2 2.1 1,925 CONDO 4/18/2010
15 BRITTEN CT $274,999 3 2.1 1,973 ATTACHD 4/12/2010
15148 QUARRY RD $279,000 3 2 1,618 DETACHD 4/16/2010
1005 SOUTHSHORE BLVD $289,900 3 2 2,196 DETACHD 4/16/2010
1225 SPRUCE ST $299,900 3 1.1 1,288 DETACHD 4/16/2010
6218 NOKOMIS CT $309,900 4 2 1,512 DETACHD 4/17/2010
104 KINGSGATE RD $359,000 3 2.1 2,000 DETACHD 4/16/2010
14433 HOLLY SPRINGS RD $384,950 4 2.1 1,939 DETACHD 4/12/2010
4700 LOWER DR $409,900 3 2.1 1,587 DETACHD 4/12/2010
1642 HIGHLAND DR $449,000 4 3 2,234 DETACHD 4/12/2010
5008 HARTFORD PL $463,900 4 3 3,223 DETACHD 4/15/2010
14371 SHERBROOK PL $479,900 4 2.1 2,550 DETACHD 4/16/2010
2650 LOOKOUT CT $495,000 4 3.1 3,480 DETACHD 4/12/2010
1570 Woodland TER $524,900 4 2.1 2,311 DETACHD 4/16/2010
17573 BLUE HERON CT $584,000 4 3 2,396 DETACHD 4/14/2010
4184 SUNSET DR $649,000 6 3 2,916 DETACHD 4/14/2010
3210 FIR RIDGE RD $795,000 4 3.2 2,832 DETACHD 4/13/2010
1176 TROON RD $859,000 3 2 3,022 DETACHD 4/16/2010
12819 ALTO PARK RD $1,097,500 4 4.1 3,944 DETACHD 4/12/2010
16777 PHANTOM BLUFF CT $1,250,000 4 2.2 5,102 DETACHD 4/15/2010
1961 CHERYL CT $1,275,000 5 4.1 5,124 DETACHD 4/12/2010

PENDING SALES (April 12 – April 18, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
96 CERVANTES CIR $129,900 2 1.1 912 CONDO 64
750 1ST ST $185,000 2 2 1,350 CONDO 73
16149 PEARCY ST $229,900 3 2 1,250 DETACHD 17
211 OSWEGO SMT $229,900 2 2 1,506 CONDO 241
5341 CHINOOK CT $249,700 3 2 1,120 DETACHD 598
2764 GLEN HAVEN RD $294,900 3 1.1 1,352 DETACHD 10
1818 COUNTRY CLUB RD $325,000 3 2 1,596 DETACHD 4
4310 SILVER CT $339,000 2 3.1 1,996 CONDO 298
17870 DEERBRUSH AVE $349,900 3 2.1 1,912 DETACHD 18
5834 SEVILLE AVE $350,000 3 2 1,516 DETACHD 5
18156 PIONEER CT $367,300 3 2 1,558 DETACHD 27
119 3RD ST $385,000 3 2 1,204 CONDO 187
15547 PARTRIDGE DR $389,900 3 2.1 2,266 DETACHD 214
1790 YARMOUTH CIR $419,950 2 2 1,473 DETACHD 206
14377 CAMDEN LN $499,900 4 2.1 2,530 DETACHD 2
4705 LAKEVIEW BLVD $529,900 4 2.1 2,700 DETACHD 7
5830 SUNBROOK DR $539,000 5 2.1 2,810 DETACHD 29
17471 CARDINAL DR $564,900 4 2.1 3,056 DETACHD 61
5218 WESTFIELD CT $649,900 4 2.1 3,125 DETACHD 284
4349 LAKEVIEW BLVD $650,000 3 3 3,678 DETACHD 10
13278 ROGERS RD $695,000 3 2.1 2,964 DETACHD 177

SOLD (April 12- April 18, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE $129,000 $134,000 2 2 979 CONDO 6
668 MCVEY AVE $219,000 $205,000 3 1.1 985 CONDO 243
505 8TH ST $389,000 $305,000 3 1 1,050 DETACHD 143
12519 27TH PL $339,000 $335,000 3 2.1 1,975 DETACHD 15
516 7TH ST $355,000 $347,500 3 2.1 1,502 DETACHD 12
13052 KNAUS RD $475,000 $400,000 5 3 3,026 DETACHD 34
4763 AVERY LN $514,900 $480,000 4 2.1 2,566 DETACHD 19
14279 CAMDEN LN $525,000 $485,000 4 2.1 2,373 DETACHD 71
10 OTHELLO ST $549,900 $535,000 4 3 3,440 DETACHD 3
17363 BROOKHURST DR $625,000 $605,000 4 2.1 3,420 DETACHD 14
64 BERWICK RD $759,000 $735,000 4 3.1 3,740 DETACHD 66

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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Market Activity Report for Lake Oswego, April 5-11, 2010

It is an absolutely glorious day today, and it is only supposed to get better as the week goes on. I love it! I also want to thank the propertyblotter readers who came by my open house on Sunday. Great to meet you!

Last week Lake Oswego had 24 new listings come onto the market, 19 houses that went pending, and 7 houses that were closed sales. Here is the full data for last week (see below for additional notes):

NEWLY LISTED (April 5-11, 2010)

Address List Price # BR # BTHS Total SF Prop Type List Date
47 GREENRIDGE CT $100,000 2 1.1 1,176 CONDO 4/5/2010
100 KERR PKWY $134,900 2 1.1 822 CONDO 4/8/2010
4 TOUCHSTONE $184,000 3 2.1 1,350 ATTACHD 4/8/2010
5287 W SUNSET DR $249,900 2 1 822 DETACHD 4/6/2010
1818 COUNTRY CLUB RD $325,000 3 2 1,596 DETACHD 4/9/2010
10 PREAKNESS CT $375,000 4 2.1 2,270 CONDO 4/6/2010
4971 SUNTREE LN $394,900 3 2.1 1,911 DETACHD 4/7/2010
14423 ORCHARD SPRINGS RD $405,000 3 2.1 1,730 DETACHD 4/9/2010
17712 CARDINAL CT 420000 4 3 2,146 DETACHD 4/7/2010
24 PARTRIDGE LN 449000 4 2.1 3,224 DETACHD 4/8/2010
4844 LOWER DR 499000 4 4 2,285 ATTACHD 4/5/2010
4705 LAKEVIEW BLVD 529900 4 2.1 2,700 DETACHD 4/5/2010
745 BERWICK CT 549000 3 2 1,988 DETACHD 4/7/2010
4852 LOWER DR 569000 3 4 2,359 ATTACHD 4/5/2010
110 3RD ST 599000 1 1 915 DETACHD 4/5/2010
1704 GLENMORRIE TER 599000 5 3 3,885 DETACHD 4/9/2010
3899 DANIEL WAY 630000 4 2.1 3,005 DETACHD 4/9/2010
4349 LAKEVIEW BLVD 650000 3 3 3,678 DETACHD 4/7/2010
12211 ORCHARD HILL RD 715000 4 3 4,587 DETACHD 4/5/2010
426 7TH ST 725000 4 2.1 2,902 DETACHD 4/5/2010
4679 DOGWOOD DR 925000 5 3.2 4,456 DETACHD 4/9/2010
190 FURNACE ST 1000000 5 4.1 4,590 DETACHD 4/7/2010
2811 ARROWHEAD CT 1250000 4 3.1 3,740 DETACHD 4/9/2010
16743 GRAEF CIR 1599000 4 2.1 3,772 DETACHD 4/7/2010

PENDING SALES (April 5-11, 2010)

Address List Price # BR # BTHS Total SF Prop Type CDOM
4000 CARMAN DR $125,000 2 2 935 CONDO 346
65 OSWEGO SMT $129,900 2 2 1,140 CONDO 8
18420 DON LEE WAY $210,000 3 1 924 DETACHD 25
19032 KRISTI WAY $259,900 2 2 1,390 DETACHD 7
4420 GOLDEN LN $279,900 3 3.1 2,165 CONDO 391
4774 OAKRIDGE RD $329,000 3 1 2,104 DETACHD 220
3056 WEMBLEY PARK RD $339,000 3 2 2,600 DETACHD 36
4548 BLACK FOREST CT $414,000 4 2.1 2,157 DETACHD 649
4962 BILFORD LN 419900 3 2.1 2,168 DETACHD 106
1400 LEE ST 427500 4 3 2,804 DETACHD 106
1851 KILKENNY DR 450000 4 3 2,654 DETACHD 2
561 2ND ST 589000 2 2 1,561 CONDO 67
19203 SW Megly Ct 589900 5 3.1 3,595 DETACHD 76
18010 GIMLEY CT 685000 4 2.5 3,652 DETACHD 27
14124 HEATHROW LN 785000 4 3.1 3,812 DETACHD 5
19175 EASTSIDE RD 799000 5 4.1 5,263 DETACHD 86
3820 SOUTHSHORE BLVD 925000 5 4 4,855 DETACHD 169
842 6TH ST 1099999 4 3.1 3,840 DETACHD 62
17979 CRESTLINE DR 1149000 4 2.1 4,650 DETACHD 7

SOLD (April 5-11, 2010)

Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
3365 UPPER DR $299,999 $290,000 2 2 1,378 DETACHD 133
15 SAINT HELENS CIR $309,800 $295,000 3 2 1,528 DETACHD 6
2030 GREENTREE RD $368,900 $365,000 3 2 1,613 DETACHD 12
523 2nd ST $399,000 $399,000 2 2 1,274 CONDO 38
5400 BAY CREEK DR $499,900 $475,000 4 2.1 2,856 DETACHD 277
17079 CHERRY CREST AVE $575,000 $540,000 3 2.1 3,002 DETACHD 30
260 PINE VALLEY RD $1,369,000 $995,000 4 3.1 3,900 DETACHD 522

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

State of the Market:

  • Have We Hit Bottom? The experts agree that generally speaking, the country has “hit bottom”, with various areas lagging behind a bit.   CNN.Money.com predicts that the Portland area will hit bottom in Q3 of this year. Our latest RMLS Market Action Report for the Portland area indicates that Portland metro area closed sales increased 18.4% when comparing 2009 vs 2010. Pending sales rose 45% and new listings rose 12.4%. The average sales price declined 8.5%.

(Money Magazine) — The drama is nearly over. After a decade of extremes — the ebullient highs of the real estate boom, then the devastating lows of the bust — calmer forces are beginning to prevail in the housing market.

  • Local Lake Oswego Data The RMLS Market Action Report lumps West Linn and Lake Oswego together, but here is some interesting data:
    * In February 2010 the average sales price was $457,700.
    * The average time on the market was 153 days.
    * Pending Sales rose 52.7% in Feb 2010 as compared to Feb 2009.
    * The average sales price has declined 9.7% in a rolling 12-month equation (i.e. 3/1/08 – 2/28/09 compared with 3/1/09 – 2/28/10)
  • Rates are Rising I have clients asking  “Is this the right time to buy or should we wait?”  One thing we know is that rates are rising. Right now they are still in the 5% range…  actually they are up a bit today at 5.125% but overall they’ve been fluctuating between 4.875% and 5.125% for 30-yr fixed.  As for more foreclosures to come, and prices lowering… interest rates are rising, some say 7% is possible NY Times… so if you ARE planning to finance, all the experts agree that this is the time to be buying, because even if prices go lower, the fact that the interest rates go up effectively nullifies your benefits.
  • Portland Area Rating Improves “Mortgage insurance companies have upgraded Portland’s property value housing trends, meaning that they predict values to be stabilizing in the Portland market.”  Pat Goodell, Academy Mortgage
  • Tax Credits For first-time home-buyers and “moving-up” buyers, there is still time to find a property you love & get a mutually-agreed deal in place before April 30th. So….  hang in there if you are still looking for that “right” one.  Work with your Realtor to narrow the field, or give Dianne or me a call if you are not working with a Realtor.  (I love working with Buyers…. it is actually the reason I originally got into real estate.)
  • USDA Loans USDA anticipates running out of funds to lend by end-April 2010.  If you are thinking about rural properties and considering a USDA loan, now would be the time to ink an offer.
  • FHA Mortgage Insurance Premiums Rising FHA’s upfront (financed) mortgage insurance premium increased to 2.25% effective April 5. And/but, if you are anticipating taking advantage of an FHA loan, don’t fret too much. You WILL now have the higher premium, however,  it’s not anything that should get you in a tizzy, as it will make very little difference in your mortgage payment.  For example, on a $300,000 loan amount, your payment will only increase by approximately $8./month adding in that higher mortgage insurance premium.  (This according to Pat Goodell of Academy Mortgage  503 380 0953.)
  • “The Deal” One thing I am noticing is that many people are becoming so enamored with “the deal” these days, that some are missing the point of why they decided to purchase to begin with, so I am simultaneously always trying to meet my clients needs & desires in a *property* (i.e. what they are trying to accomplish for themselves in their lives w/the purchase… what they truly like), while at the same time being cognizant of the “deal factor” for them.  Keep in mind these things regarding “deals”…  there are basically three kinds:
  1. People who are pricing their homes to sell. They have their own circumstances (down-sizing/relocation/up-sizing/on & on & on), and they are wanting to move on in some fashion.  There are plenty of these out there these days, especially as home owners look around and face the fact that they are now competing with so many homes in or approaching foreclosure.  There are some very real advantages to buying your home from these folks.  Some include: Often these homes are in tip-top shape / You are dealing directly with the owner of the home and as long as the agreed-upon sales price does not dip below what they owe on the property, you are in “Pending” status when you reach mutual acceptance, and /You are negotiating only with the Seller.  / You proceed through a normal closing process if you are taking out a loan, and notwithstanding any negotiations or hoops you need to jump through for the underwriter, you will most likely close in 30-45 days.
  2. Short Sales. These homes’ owners owe more to the bank than what the property is worth in today’s market. The bank is agreeing to take less than what is owed from the Seller.  There are many, many banks in existence and each has its own methods and processes, so there is no uniformity of what to expect, with a few exceptions that I will get into in a moment.  There may be more than one bank involved if there is a second mortgage or more. There are a few things that you can expect, and they are:   * Even if the Seller accepts your offer, the bank is the one (or ones) to give final approval considering that what they will receive is less than what was contracted with the Seller.   ***The bank (s) will usually have paperwork that you must sign if you want to be in the running that will change how the property proceeds through the sale process including: Notifying you that they will only accept an earnest money check & no promissory notes/ They will keep your money and wait to see how many other offers they receive / They will not give you a time line on when they will respond to your offer / You are usually on your own with regard to any repairs / It is usually several months before you find out if your offer was the one accepted & get to proceed to close / During this process the property very often stays in “Active” position on RMLS / Very often the paperwork you must sign includes a provision wherein the bank retains the right to accept another offer right up to closing.   ***For these reasons,  I counsel clients that they must REALLY be in love with a property to proceed through this process.  Also, depending on the property, you may be entering territory wherein you know that you will be competing with other offers, so the best advice, if this is the case, is to make this your best offer… especially if you plan to sit out the long process and want to have a happy ending.  Don’t try to “wing it”… these are complicated times & even the professionals involved are still feeling out the landscape.  There are all kinds of people calling themselves “experts”.  Make sure you know what you are doing and ask for licenses if you think people on the periphery are operating outside of their scope of expertise. Talk to your Realtor as to what your options are, and rely on that trusted professional relationship for guidance.
  3. Bank-owned properties. These homes have usually been through the short sale phase unsuccessfully.  The property has either been on the market & not sold, or the owners opted not to try a short sale and have simply stayed in the property until they had to move on as the bank proceeded through their legal remedies to regain the property due to non-payment.   These properties are sometimes in sad condition due to hardship (i.e. deferred maintenance), but many times these days, they are in very good condition… a sign of the times & the large numbers of otherwise responsible homeowners who simply found themselves in an untenable position through job loss or other factors. The thing to remember about these properties is that the price is ALWAYS lower than either short-sales or standard “good deals”. The bank wants to move on and prices the home low.  The bank is now the Seller and usually acts just like a normal Seller, i.e. Negotiating (tho usually not for repairs)/ accepting or rejecting an offer/Moving on to close with the property going to “Pending” status once it’s mutually agreed-upon/Proceeding through a normal closing process for the Buyer. For this reason: Investors and others are waiting in the wings to pounce on these very often with cash offers, so you have to be quick, and you want to be very careful about low offers, though this can sometimes still be a viable option. Talk to your Realtor about options as they will vary from property to property.

Hope this info is helpful!