Market Activity – Page 92 – Property Blotter

April 20, 2009

Lake Oswego Market Activity – April 13-19, 2009

p10100071 Well, the cherry trees are in full bloom, temps are in the 80’s, and real estate activity continues to move forward… a gradually enlivened, seasonal bustle.

Lake Oswego saw 22 new properties hit the market last week. We had 10 go pending, and 2 that closed. So, nothing earth shattering in the “sold” department, but encouraging nonetheless.

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (April 13—19, 2009)

Address

List Price

# Beds

# Baths

Tot. SF

Prop Type

List Date

100 SW KERR PKWY	$97,900	1	1	617	CONDO	4/13/2009
4000 CARMAN DR	$144,000	2	2	935	CONDO	4/19/2009
82 OSWEGO SMT	$234,900	2	2	1,212	CONDO	4/17/2009
1897 BOCA RATAN DR	$249,480	3	2.1	1,739	ATTACHD	4/13/2009
6025 KENNY ST	$299,900	3	1.1	1,258	DETACHD	4/16/2009
17683 NICOLE LN	$324,900	3	2	1,200	DETACHD	4/13/2009
16824 SW INVERURIE RD	$389,900	3	3	1,896	DETACHD	4/13/2009
3009 WEMBLEY PARK RD	$395,000	3	1.1	1,754	DETACHD	4/13/2009
18220 BICKEL CT	$399,000	3	3	2,075	DETACHD	4/18/2009
1023 LUND ST	$419,000	4	2.1	2,313	DETACHD	4/18/2009
68 TOUCHSTONE	349900 – 424880	5	4.1	3,148	DETACHD	4/14/2009
510 2nd ST	$439,000	2	1.2	1,520	CONDO	4/13/2009
19061 INDIAN SPRINGS RD	$479,900	4	3	2,341	DETACHD	4/16/2009
4920 MULHOLLAND DR	$555,000	3	2.1	2,498	ATTACHD	4/17/2009
15943 WHITE OAKS DR	$559,500	4	2.1	2,746	DETACHD	4/16/2009
4672 AUBURN LN	$575,000	3	3.1	2,732	ATTACHD	4/15/2009
4114 GLACIER LILY ST	$599,000	4	2.1	2,470	DETACHD	4/19/2009
5421 Bay Creek DR	$649,500	4	2.1	3,241	DETACHD	4/17/2009
133 FURNACE ST	$695,000	2	2.1	1,927	CONDO	4/16/2009
5392 SOUTHWOOD DR	$774,900	5	3	3,871	DETACHD	4/15/2009
301 IRON MOUNTAIN BLVD	$1,150,000	4	3.2	3,004	DETACHD	4/14/2009
19007 EASTSIDE RD	$1,390,000	4	3.1	4,651	DETACHD	4/14/2009

PENDING SALES (April 13-19, 2009)

Address	List Price	# Beds	Tot. Baths	Total SF	Prop Type	List Date	CDOM
13880 SUNDELEAF DR	$234,500	2	1	976	DETACHD	1/23/2009	84
1635 ASPEN ST	$319,900	3	2.1	1,618	DETACHD	3/24/2009	285
3 CELLINI CT	$449,000	4	2.1	2,531	DETACHD	1/19/2009	86
11 BECKET ST	$465,000	3	2.1	4,030	DETACHD	4/9/2009	111
80 TANGLEWOOD DR	$469,000	5	3	2,713	DETACHD	10/11/2008	371
855 7TH ST	$469,900	4	1	1,392	DETACHD	8/18/2008	240
13470 PETERS RD	$474,900	3	2.1	2,324	ATTACHD	4/1/2009	15
19431 KOKANEE CT	$529,000	4	2.1	2,250	DETACHD	4/9/2009	8
595 D AVE	625000	3	2	3,760	DETACHD	2/2/2009	309
1915 SW CHILDS RD	1594950	5	5.2	5,689	DETACHD	3/14/2008	397

SOLD (April 13-19, 2009)

ADDRESS	ORIG. PRICE	SALE PRICE	TOT. BEDS	TOT. BATHS	TOT. SQ FT	PROP TYPE	DOM
Address	O/Price	Close Price	# Beds	Tot. Baths	Total SF	Prop Type	CDOM
92 GALEN ST	$119,500	$100,500	1	1	689	CONDO	42
615 LAKE BAY CT	$669,900	$505,000	3	3	2,542	DETACHD	190

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.

April 13, 2009

Market Activity for April 6th to 12th, 2009

daffodils2 It feels like the new listings are coming onto the market in a fairly consistent way with 15 to 20 new listings, not “refreshed” but actually new, each week. Last week we saw 16 new listings. There were 4 pending sales and 5 closed listings. I keep waiting to see evidence of the spring market kicking in. That would be reflected in an increase in both pending and closed sales. So far, it remains a bit sluggish. On the plus side, we have one pending sale at close to $1,000,000. The remainder of the pending and closed sales continue to favor the more moderately priced homes. I am also continuing to see that the cumulative days on the market continue to embrace both extremes. It seems like houses that were over-priced, and that have gradually bitten the bullet to bring the price down to a point where price meets market demand, are selling with very long market times. The other extreme are the new listings that are able to look at current market conditions, price realistically, and are selling in a very short period of time.

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (April 6—April 12, 2009)

Address

List Price

# Beds

# Baths

Tot. SF

Prop Type

List Date

Address	List Price	# BR	# BTHS	Total SF	Prop Type	List Date
4 TOUCHSTONE	$93,000	2	2	979	CONDO	4/10/2009
3433 MCNARY PKWY	$169,900	2	2	1,008	CONDO	4/8/2009
18055 CENTRAL AVE	$299,000	2	2	1,202	DETACHD	4/10/2009
15256 BOONES WAY	$339,900	2	2.1	1,600	ATTACHD	4/12/2009
1716 HALLINAN ST	$369,500	3	3	1,916	DETACHD	4/10/2009
4105 DOUGLAS WAY	$384,900	7	2.1	2,856	DETACHD	4/12/2009
54 AQUINAS ST	$499,900	3	2.1	2,802	DETACHD	4/7/2009
6 NORTHVIEW CT	$525,000	4	3.1	3,188	DETACHD	4/10/2009
73 TANGLEWOOD DR	$539,000	4	3.1	3,576	DETACHD	4/9/2009
1025 C AVE	$549,000	3	2	2,261	DETACHD	4/7/2009
2925 ORCHARD HILL PL	$549,000	3	2.1	2,418	DETACHD	4/9/2009
4 DA VINCI ST	$599,950	5	3	3,100	DETACHD	4/6/2009
13456 PROVINCIAL HILL WAY	$639,900	3	2.1	2,771	DETACHD	4/6/2009
18402 ANDUIN TER	$699,995	5	3.1	4,302	DETACHD	4/6/2009
18025 SKYLAND CIR	$1,425,000	4	3.2	5,379	DETACHD	4/6/2009
616 CABANA LN	$2,795,000	5	4	3,800	DETACHD	4/6/2009

PENDING SALES (April 6—April 12, 2009)

Address	List Price	# BR	# BTHS	Total SF	Prop Type	CDOM
3190 DUNCAN DR	$259,900	3	2.1	2,401	DETACHD	115
17079 CHERRY CREST AVE	$430,000	3	2.1	3,002	DETACHD	154
615 LAKE BAY CT	$599,000	3	3	2,542	DETACHD	323
716 MCVEY AVE	$959,998	3	2	2,348	DETACHD	805

SOLD (April 6—April 12, 2009)

Address	O/Price	Close Price	# BR	# BTHS	Total SF	Prop Type	CDOM
4640 LOWER DR	$189,900	$115,000	2	1.1	1,170	CONDO	572
127 OSWEGO SMT	$184,900	$179,595	2	2	1,212	CONDO	0
5063 FOOTHILLS DR	$230,000	$225,000	2	2	991	CONDO	8
16 PARTRIDGE LN	$418,900	$398,000	3	2.1	2,304	DETACHD	48
731 F AVE	$939,000	$605,000	4	2.1	2,668	DETACHD	327

April 6, 2009

Lake Oswego Market Activity – March 30th – April 5th, 2009

blogtree Ok, things are starting to get interesting- Lake Oswego saw 29 new properties hit the market last week (these are properties that are brand new on the market -or- have been off the market for a minimum of 30 days). All told, there were 45 that are either truly new, or have been “freshened” showing as new listings. (Dianne and I will have plenty to see on tour tomorrow!) We had 7 go pending, and 6 that closed, so sales remain steady for now at this rate.

The headlines read: “Mortgage Rates Drop to Record Lows”. According to Bankrate.com, the benchmark 30-year fixed-rate mortgage has dropped 6 basis points to 5.13%. The benchmark 15-year, fixed-rate mortgage fell 7 basis points to 4.73%. Mortgage rate applications are up, and many are taking advantage of the 2009 $8,000. tax credit for first time buyers. (Click here for more info from the NAR.)

We can expect to see these factors start to significantly affect market activity. The rise in the number of new listings appears to indicate renewed confidence along with seasonal upswing, and consistent sales activity likely indicates pent-up demand starting to surface, as you’d expect with the incentives of low rates and plentiful options.

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (March 30—April 5, 2009)

Address

List Price

# Beds

# Baths

Tot. SF

Prop Type

List Date

Address

List Price

# Beds

# Baths

Tot. SF

Prop Type

List Date

Address	List Price	# Beds	# Baths	Tot. SF	Prop Type	List Date
47 EAGLE CREST DR	$132,900	2	1	932	CONDO	4/2/2009
86 KINGSGATE RD	$155,000	2	2	849	CONDO	4/2/2009
86 KINGSGATE RD	$159,900	2	2	924	CONDO	4/3/2009
86 KINGSGATE RD	$169,000	2	2	849	CONDO	3/31/2009
165 OSWEGO SMT	$199,900	2	2	1,383	CONDO	4/3/2009
4230 COLLINS WAY	$289,000	3	2	1,512	DETACHD	4/1/2009
4465 GOLDEN LN	$299,900	2	2.1	1,980	CONDO	4/2/2009
6025 SW CARMAN DR	$299,900	3	1.1	1,346	DETACHD	4/5/2009
18929 TERRY AVE	$374,950	4	2	2,065	DETACHD	3/30/2009
19060 INDIAN SPRINGS CIR	$399,900	3	2	1,525	DETACHD	4/1/2009
37 BERWICK RD	$425,000	5	2	2,198	DETACHD	3/30/2009
13470 PETERS RD	$474,900	3	2.1	2,324	ATTACHD	4/1/2009
2650 DELLWOOD DR	$499,000	4	3	3,238	DETACHD	4/1/2009
161 C AVE	$549,900	2	2.1	1,719	ATTACHD	4/1/2009
6110 CHILDS RD	$550,000	4	3	3,258	DETACHD	4/1/2009
400 LAKE BAY CT	$579,900	3	2.1	1,680	DETACHD	4/1/2009
2830 PARK RD	$625,000	4	3.1	3,116	DETACHD	3/31/2009
2188 OVERLOOK DR	$639,900	4	2.1	2,618	DETACHD	3/30/2009
246 GREENWOOD RD	$674,900	3	3	2,125	DETACHD	4/1/2009
15671 VILLAGE DR	$724,000	3	2.1	3,390	DETACHD	4/2/2009
16616 LAKE FOREST BLVD	$750,000	4	2.1	3,314	DETACHD	4/1/2009
15543 VILLAGE DR	$799,000	4	2.1	3,081	DETACHD	3/31/2009
17215 LOWENBERG TER	$850,000	4	2.1	2,819	DETACHD	4/2/2009
13711 FIELDING RD	789000 – 898876	3	4	4,649	DETACHD	3/30/2009
511 6TH ST	$988,000	5	3.1	4,000	DETACHD	4/2/2009
917 Evergreen ST	$1,000,000	4	3.1	2,700	DETACHD	3/30/2009
17960 SARAH HILL LN	$1,179,000	5	3.1	4,800	DETACHD	4/1/2009
1099 TROON RD	$1,250,000	5	3.1	3,938	DETACHD	3/30/2009
13371 ATWATER LN	$1,299,900	4	3	4,795	DETACHD	4/5/2009

PENDING SALES (March 30—April 5, 2009)

Address

List Price

# Beds

# Baths

Tot. SF

Prop Type

List Date

CDOM

Address	List Price	# Beds	# Baths	Tot. SF	Prop Type	List Date	CDOM
3844 BOTTICELLI ST	$219,900	2	2	1,132	CONDO	3/31/2009	5
18307 LONGFELLOW AVE	$329,900	3	2	1,457	DETACHD	8/23/2008	222
785 5TH ST	$399,900	3	2	2,208	DETACHD	11/18/2008	132
13581 GOODALL RD	$550,000	3	2	1,220	DETACHD	10/10/2008	575
5772 BAY CREEK DR	$574,500	4	3	3,242	DETACHD	2/5/2009	58
12611 BOONES FERRY RD	$599,900	5	3.1	4,042	DETACHD	2/17/2009	142
2900 WEMBLEY PARK RD	$697,000	4	2.1	3,383	DETACHD	3/31/2009	4

SOLD (March 30—April 5, 2009)

Address

Orig Price

Sale Price

# Beds

# Baths

Tot. SF

Prop Type

List Date

CDOM

Address	O/Price	Close Price	# Beds	# Baths	Tot. SF	Prop Type	CDOM
4 TOUCHSTONE	$129,900	$125,000	2	2	979	CONDO	192
4470 CHAPMAN WAY	$380,000	$310,000	3	3	2,125	DETACHD	188
2800 WEMBLEY PARK RD	$374,500	$342,000	3	2	1,575	DETACHD	10
1228 HALLINAN CIR	$389,000	$375,000	4	2	1,932	DETACHD	7
625 CLARA CT	$587,500	$542,000	3	2.1	2,532	DETACHD	297
13222 DEERFIELD CT	$649,000	$600,000	4	2.1	3,022	DETACHD	331

March 30, 2009

Market Activity for March 23 to 29, 2009

Last week was spring break for the Lake Oswego School District and it kept the market a bit quiet. 15 new listings, 6 pending sales, and 2 closed listings made for a rather slow week. That being said, once spring break is over, it is traditionally the time of year when the market picks up steam. The daffodils are in full bloom with tulips and rhododendrons soon to follow. Houses really look good in the spring and many home owners time selling their homes around the season when their yards show their home at its best. Both new listings and pending sales should pick up as the weather improves.

Here is your summary of last weeks activity:

NEWLY LISTED (March 23—March 29, 2009)


Address	List Price	# Beds	# Baths	Tot. SF	Prop Type	List Date
7 CRESTFIELD CT			$115,000	1	1	689	CONDO	3/28/2009
1033 YATES ST			$199,900	4	3.1	2,500	DETACHD	3/26/2009
3433 MCNARY PKWY			$199,950	2	2.1	1,208	CONDO	3/27/2009
4041 JEFFERSON PKWY			$229,000	1	1.1	1,041	ATTACHD	3/26/2009
4316 BOTTICELLI ST			$274,900	3	2.1	2,098	CONDO	3/23/2009
103 KINGSGATE RD			$319,000	3	2.1	1,352	DETACHD	3/27/2009
5 PEACOCK PL			$330,000	4	2.1	1,760	DETACHD	3/29/2009
3290 WEMBLEY PARK RD			$379,000	5	3	2,614	DETACHD	3/23/2009
17311 ASHLEY CT			$385,000	4	2.1	2,160	ATTACHD	3/27/2009
18601 WAXWING ST			$447,000	4	2	1,908	DETACHD	3/27/2009
1250 PINE ST			$499,000	4	3	2,856	DETACHD	3/26/2009
17859 HILLSIDE WAY			$539,000	5	3	3,418	DETACHD	3/23/2009
12647 SW 21ST CT			$649,900	5	2.1	3,212	DETACHD	3/23/2009
1918 INDIAN TRAIL			$1,095,000	3	3	3,094	DETACHD	3/25/2009
3545 RED CEDAR WAY			$1,350,000	5	4.5	4,625	DETACHD	3/24/2009

PENDING SALES (March 23—March 29, 2009)

Address	List Price	# BR	# BTHS	Total SF	Prop Type	CDOM
47 EAGLE CREST DR	$137,900	2	1	947	CONDO	56
5831 SEVILLE AVE	$199,900	4	1	1,320	DETACHD	211
6317 CARMAN DR	$219,900	3	1.1	1,344	DETACHD	168
5235 OAKRIDGE RD	$304,900	3	2.1	1,576	DETACHD	129
13805 REGENCY CT	$399,000	4	2.1	2,045	DETACHD	29
17960 RIDGE LAKE DR	$634,900	4	2.1	3,124	DETACHD	271

SOLD (March 23—March 29, 2009)

Address	O/Price	Close Price	# BR	# BTHS	Total SF	Prop Type	CDOM
4 TOUCHSTONE DR	$194,900	$153,000	3	2.1	1,351	CONDO	45
16840 ALDER CIR	$1,749,000	$1,555,000	4	2.1	3,563	DETACHD	249

March 24, 2009

Market Activity Update – March 16 – 22, 2009

Lake Oswego saw 15 new properties hit the market last week (these are properties that are brand new on the market -or- have been off the market for a minimum of 30 days). We had 8 go pending, and 9 that closed.

This is a great time to buy! (no smoke here : ) Rates are great, new & intriguing loan programs are popping up all over the place, and houses appear to be finally jiving with the “reality meter” for Buyers.

Feel free to call or email anytime. We love hearing from our local and out-of-state readers, and enjoy meeting you and getting you settled in Lake Oswego!

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (March 16—March 22, 2009)

Address	List Price	# Beds	# Baths	Tot. SF	Prop Type	List Date
100 KERR PKWY	$132,500	2	1.1	823	CONDO	3/16/2009
15868 PARKER RD	$187,500	2	1	780	DETACHD	3/17/2009
11 OSWEGO SMT	$194,900	2	2	1,212	CONDO	3/16/2009
45 EAGLE CREST DR	$210,000	2	2	1,046	CONDO	3/21/2009
12844 BOONES FERRY RD	$257,000	2	2.1	1,398	CONDO	3/16/2009
2 SUMMIT RIDGE CT	$354,900	2	2.1	1,750	ATTACHD	3/18/2009
5214 LOWER DR	$459,900	4	2.1	2,904	DETACHD	3/19/2009
12735 Alto Park RD	$495,000	3	2	1,685	DETACHD	3/20/2009
17860 Sundown CT	$499,900	4	3.1	3,480	DETACHD	3/20/2009
1866 KILKENNY DR	$511,100	4	3.1	3,600	DETACHD	3/19/2009
15535 VILLAGE DR	$799,000	5	3	3,421	DETACHD	3/21/2009
17212 CHAPIN WAY	$850,000	3	2.1	2,541	DETACHD	3/17/2009
2 GROUSE TER	$989,000	4	3	4,446	DETACHD	3/17/2009
1149 LAKESHORE RD	$1,295,000	4	2.1	2,606	DETACHD	3/20/2009
1005 COUNTRY CLUB RD	$1,999,000	5	4	5,000	DETACHD	3/18/2009

PENDING SALES (March 16—March 22, 2009)

Address	List Price	# Beds	# Baths	Tot. SF	Prop Type	List Date	CDOM
4 TOUCHSTONE DR	$137,500	3	2.1	1,351	CONDO	1/26/2009	52
15570 WALUGA DR	$325,000	3	3	1,577	DETACHD	3/21/2009	265
16 PARTRIDGE LN	$398,000	3	2.1	2,304	DETACHD	1/30/2009	48
1043 HALLINAN ST	$399,900	4	2.1	2,484	DETACHD	9/3/2008	196
13222 DEERFIELD CT	$649,000	4	2.1	3,022	DETACHD	1/22/2009	331
14133 AMBERWOOD CIR	750000 – 800000	4	2.1	3,200	DETACHD	6/12/2008	278
1667 VILLAGE PARK LN	$899,900	6	3.1	4,743	DETACHD	2/18/2009	279
1961 SUMMIT DR	$915,000	3	2.1	3,218	DETACHD	6/21/2008	268

SOLD (March 2—March 8, 2009)

Address	Orig Price	Sale Price	# Beds	# Baths	Tot. SF	Prop Type	List Date	CDOM
6291 HARRINGTON AVE	$249,900	$239,900	3	2	1,472	DETACHD	1/6/2009	10
4070 WESTBAY RD	$350,000	$279,000	1	1	1,828	DETACHD	7/15/2008	0
17304 MARJORIE AVE	$333,000	$317,125	3	1.1	1,340	DETACHD	2/3/2009	16
4 OTHELLO ST	$434,900	$390,000	4	3	2,184	DETACHD	11/5/2008	111
1480 HEMLOCK ST	$488,850	$410,000	4	3	2,246	DETACHD	3/24/2008	305
221 HIDALGO ST	$419,500	$420,000	3	2.1	2,628	DETACHD	2/16/2009	13
178 PINE VALLEY RD	$475,000	$455,000	5	3.1	2,999	DETACHD	2/12/2009	6
17454 CANAL (boat esmnt) CIR	$789,900	$545,900	4	3	2,275	DETACHD	4/19/2008	261
1670 PINE ST	$679,987	$579,900	4	3.1	3,286	DETACHD	11/5/2008	110

March 16, 2009

Market Activity for March 9-15, 2009

Last week in Lake Oswego there were 16 new listings, 8 houses that went pending, and 2 closed sales. A trend I have been watching appears to be continuing. When I look at Days on the Market, it seems like houses are either selling very quickly or very slowly. 3 of the 7 pending sales went into escrow in a week or less of market time. 3 more sold within about 2 months. The last two had extended market time of 236 and 426 days. Of the closed sales, one sold in 4 days and one sold in 243 days. I think this is reflective of changing attitudes of sellers. People who listed their homes in late 2007 and early 2008 are being stubborn about accepting the decline in values that has occured and are either sitting on high prices or dropping prices in such away that they are behind the market trends. Whereas sellers listing today, who are listening to their Realtor and pricing their homes at values that will meet market conditions, are realizing quick sales at or near their asking prices. Buyers are smart. They are watching the market and recognizing value when they see it. Correct pricing is King.

NEWLY LISTED (March 9—March 15, 2009)

Address	List Price	# BR	# BTHS	Total SF	Prop Type	List Date
4 TOUCHSTONE	$159,900	3	2.1	1,350	ATTACHD	3/11/2009
4000 CARMAN DR	$184,500	2	2	1,100	CONDO	3/9/2009
166 OSWEGO SMT	$229,900	2	2	1,506	CONDO	3/13/2009
668 MCVEY AVE	$260,000	3	1.1	985	CONDO	3/12/2009
140 TOUCHSTONE CT	$339,900	3	2.1	1,964	ATTACHD	3/12/2009
4366 WOODSIDE CIR	$349,000	3	2	1,762	ATTACHD	3/12/2009
16890 CORTEZ CT	$349,000	4	3	2,016	DETACHD	3/13/2009
4420 GOLDEN LN	$349,000	3	3.1	2,165	ATTACHD	3/10/2009
5402 CARMAN DR	369900	3	1	1,720	DETACHD	3/9/2009
45 TANGLEWOOD DR	399999	5	3.1	3,166	DETACHD	3/12/2009
1462 Worthington ST	424000	4	3	1,800	DETACHD	3/9/2009
2961 DELLWOOD DR	525000	3	3	2,476	DETACHD	3/14/2009
2550 SOUTHSHORE BLVD	550000	4	3.1	3,472	DETACHD	3/11/2009
1699 VILLAGE PARK LN	675000	3	2.2	2,936	DETACHD	3/9/2009
115 BERWICK RD	998000	4	3.1	4,000	DETACHD	3/13/2009
356 9TH ST	1199000	3	3.1	3,647	DETACHD	3/10/2009

PENDING SALES (March 9—March 15, 2009)

Address	List Price	# BR	# BTHS	Total SF	Prop Type	CDOM
4 TOUCHSTONE	$76,500	3	2.1	1,351	CONDO	7
127 OSWEGO SMT	$184,900	2	2	1,212	CONDO	0
5487 TUALATA CT	$259,000	3	2	1,200	DETACHD	236
790 BOCA RATAN DR	$259,900	3	2	2,112	DETACHD	35
1140 HALLINAN CT	$339,895	3	2	1,875	DETACHD	3
845 LAKE FOREST DR	$399,000	3	1.1	1,359	DETACHD	68
662 9 th ST	$975,000	5	3.1	4,108	DETACHD	63
14066 Goodall RD	$1,629,000	4	3.1	4,220	DETACHD	426

SOLD (March 9—March 15, 2009)

Address	O/Price	Close Price	# BR	# BTHS	Total SF	Prop Type	CDOM
16978 CANAL CIR	$350,000	$350,000	3	2	1,962	DETACHD	4
22 HOTSPUR ST	$799,000	$627,325	6	3.1	4,259	DETACHD	243

Criteria: Statistics given above are obtained from the Realtor’s Multiple Listing Service by searching condos, attached homes, manufactured homes and detached homes in the 97034 and the 97035 zip codes. DOM means Days on the Market and CDOM means Cumulative Days on the Market.

March 3, 2009

Market Activity for February 23-March 1, 2009

Linda and I work very hard to have our weekly market activity reports posted on Mondays. Yesterday was full of computer challenges and created a delay. So you are getting the report on Tuesday. Thanks for your patience.

Lake Oswego had 16 New Listings, 9 Pending Sales, and 9 Closed Sales:

NEWLY LISTED (February 23—March 1, 2009)

Address	List Price	#BR	# BTHS	Total SF	Prop Type	List Date
5063 FOOTHILLS DR	$230,000	2	2	991	CONDO	2/23/2009
15010 TWIN FIR RD	$294,900	8	4	3,526	DETACHD	2/25/2009
13805 REGENCY CT	$419,000	4	2.1	2,045	DETACHD	2/27/2009
16026 PARKER RD	$425,000	3	1	1,670	DETACHD	3/1/2009
3311 FIR RIDGE RD	$459,000	3	2.1	2,112	DETACHD	2/25/2009
20 NORTHVIEW CT	$499,999	3	3.1	2,827	ATTACHD	2/26/2009
2084 RIDGEWOOD RD	$519,900	3	2.1	2,117	DETACHD	2/28/2009
12836 SIERRA VISTA DR	$529,000	3	2.1	2,166	DETACHD	2/26/2009
3140 ROSEMARY LN	619000	4	2.1	3,000	DETACHD	2/27/2009
17675 CARDINAL DR	699000	3	3	3,458	DETACHD	2/23/2009
17751 MARYLCREEK DR	719000	4	3	3,505	DETACHD	2/23/2009
5868 SUNCREEK DR	749900	4	2.1	3,174	DETACHD	2/23/2009
4114 CASEY CT	949000	4	2.1	3,405	DETACHD	2/27/2009
1176 TROON RD	985000	3	2	3,022	DETACHD	2/23/2009
3203 Southshore BLVD	1299900	4	3.1	3,773	DETACHD	2/23/2009
17147 OLD RIVER DR	2795000	5	4.2	5,961	DETACHD	2/25/2009

PENDING SALES (February 23—March 1, 2009)

Address	List Price	#BR	#BTHS	Total SF	Prop Type	CDOM
4640 LOWER DR	$115,000	2	1.1	1,170	CONDO	572
4 TOUCHSTONE DR	$159,500	3	2.1	1,351	CONDO	45
2800 WEMBLEY PARK RD	$374,500	3	2	1,575	DETACHD	10
1228 HALLINAN CIR	$389,000	4	2	1,932	DETACHD	7
4 OTHELLO ST	$399,900	4	3	2,184	DETACHD	111
221 HIDALGO ST	$419,500	3	2.1	2,628	DETACHD	54
16919 LAKERIDGE DR	$449,900	5	3	2,710	DETACHD	189
762 3RD ST	$650,000	3	2.1	2,710	DETACHD	198
1670 PINE ST	679987	4	3.1	3,286	DETACHD	565

SOLD (February 23—March 1, 2009)

Address	O/Price	Close Price	#BR	#BTHS	Total SF	Prop Type	CDOM
44 EAGLE CREST DR	$114,950	$114,950	1	1	798	CONDO	7
86 KINGSGATE RD	$145,000	$145,000	2	2	938	CONDO	31
15848 PARKER RD	$187,500	$177,000	3	2	1,318	DETACHD	17
1400 PARRISH ST	$299,999	$290,000	3	2.1	1,880	CONDO	143
6067 CLAIRMONT CT	$529,000	$510,000	4	2.1	2,344	DETACHD	11
5624 SOUTHWOOD DR	$740,000	$525,000	4	3	3,120	DETACHD	514
5299 WESTFIELD CT	$799,900	$555,000	3	2.1	2,865	DETACHD	156
17561 SHEPHERDS CT	$765,900	$589,000	4	2.1	3,011	DETACHD	347
5406 LANGFORD LN	795000	795000	3	2.1	3,341	DETACHD	0

February 23, 2009

Market Activity Update – February 16 – 22, 2009

Lake Oswego saw 16 new properties hit the market last week (these are properties that are brand new on the market -or- have been off the market for a minimum of 30 days). We had 7 go pending, and 4 that closed.

As in my last Market Activity Report on Feb. 9th, we’ve got a good mix of properties that have been on the market for quite awhile selling and going to Pending status, as well as a good number that have been on the market a relatively short period of time. For what it’s worth, my interpretation of this is that prices are coming in line with consumer demand, i.e., homes that have been on the market awhile are at prices agreeable to buyers, and newer listings are starting out at prices that are more in line with buyer expectations. That said, we can’t really see what the Pending sale prices will be until they actually close. So… stay tuned to the Blotter for that info as it becomes available.

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (February 16—February 22, 2009)

Address	List Price	# Beds	# Baths	Tot. SF	Prop Type	List Date
44 EAGLE CREST DR	$135,900	1	1	798	CONDO	2/20/2009
1615 HALLINAN ST	$285,000	3	1.1	1,500	DETACHD	2/17/2009
18543 LONGFELLOW AVE	$339,900	3	1.1	1,279	DETACHD	2/16/2009
2800 WEMBLEY PARK RD	$374,500	3	2	1,575	DETACHD	2/17/2009
1228 HALLINAN CIR	$389,000	4	2	1,932	DETACHD	2/19/2009
200 BURNHAM RD	$399,000	3	2	1,960	CONDO	2/18/2009
19210 MAREE CT	$415,000	3	2.1	1,634	DETACHD	2/17/2009
221 HIDALGO ST	$419,500	3	2.1	2,628	DETACHD	2/16/2009
131 WILBUR ST	$450,000	2	2	1,312	DETACHD	2/22/2009
905 COUNTRY CLUB RD	399000 – 458876	3	2.1	2,817	DETACHD	2/19/2009
18055 CENTRAL AVE	$495,000	3	1	1,202	DETACHD	2/17/2009
8 WALKING WOODS DR	$519,900	4	3	3,402	DETACHD	2/17/2009
497 ASH ST	$598,800	6	3	3,840	DETACHD	2/18/2009
4605 CHELSEA LN	$752,000	4	2.1	3,411	DETACHD	2/17/2009
1065 LUND ST	$869,000	5	3.1	4,584	DETACHD	2/17/2009
17540 RIDGEVIEW LN	$1,285,000	4	3.1	4,345	DETACHD	2/19/2009

PENDING SALES (February 16—February 22, 2009)

Address	List Price	# Beds	# Baths	Tot. SF	Prop Type	List Date	CDOM
17304 MARJORIE AVE	$333,000	3	1.1	1,340	DETACHD	2/3/2009	16
178 PINE VALLEY RD	$475,000	5	3.1	2,999	DETACHD	2/12/2009	6
964 COUNTRY COMMONS LN	$499,000	3	2.1	2,065	DETACHD	1/23/2009	27
4676 WINTHROP CT	$557,750	4	2.1	3,112	DETACHD	11/18/2008	172
625 CLARA CT	$587,500	3	2.1	2,532	DETACHD	9/4/2008	297
731 F AVE	$624,900	4	2.1	2,668	DETACHD	1/16/2009	327
17860 CRESTLINE DR	$2,795,000	4	5.2	6,810	DETACHD	10/21/2008	485

SOLD (February 16—February 22, 2009)

Address	O/Price	Close Price	# Beds	Tot. Baths	Tot. SF	Prop Type	List Date	CDOM
3 THE GROTTO	$300,000	$292,000	3	2	1,688	DETACHD	11/5/2008	274
4451 BERNARD ST	$349,950	$330,000	3	2	1,800	DETACHD	10/29/2008	190
4 BRITTEN CT	$429,000	$399,000	3	2.1	1,972	ATTACHD	11/4/2008	74
4280 CHAPMAN WAY	$469,000	$441,000	3	2	1,947	DETACHD	12/15/2008	105

February 16, 2009

Market Activity for February 9-15, 2009

Last week’s activity was slow, to put it mildly. There were 9 genuine new listings: meaning that they were not previously listed either by another Realtor or at a higher price. There were 4 houses that went pending, and zero closed sales. Probably the most interesting thing I observed is that of the pending sales, 3 out of the 4 sold in 35 days or less. I checked the market history on all of them and these sales really did happen that quickly. So there is a place where market demand meets current economic conditions and properties sell. I also think that buyers who are in the market are watching the inventory and jumping on the good deals. On the flip side is the 4th pending sale. It took 574 days to receive an accepted offer. It was originally listed for $1,199,000 and finally priced dropped, after such a long market time, to $689,000 in order to get it gone.

NEWLY LISTED (February 9, 2009 – February 15, 2009)

Address	List Price	# BR	# BTHS	Total SF	Prop Type	List Date
92 GALEN ST	$119,500	1	1	689	CONDO	2/13/2009
45 EAGLE CREST DR	$119,900	1	1	600	CONDO	2/15/2009
11 CRESTFIELD CT	$149,000	1	1	650	CONDO	2/13/2009
5051 FOOTHILLS DR	$249,999	2	2	991	ATTACHD	2/9/2009
1960 MAPLELEAF RD	$325,000	3	2	1,210	DETACHD	2/9/2009
178 PINE VALLEY RD	$475,000	5	3.1	2,999	DETACHD	2/12/2009
17196 KELOK RD	$750,000	3	2.1	2,500	DETACHD	2/13/2009
2400 DELLWOOD DR	$899,000	4	3	3,180	DETACHD	2/10/2009
17590 KELOK RD	1749000	5	4	5,000	DETACHD	2/9/2009

PENDING SALES (February 9, 2009 – February 15, 2009)

ADDRESS	LIST PRICE	TOT. BEDS	TOT. BATHS	TOT. SQ FT	PROP TYPE	DOM
4 TOUCHSTONE DR			$114,000	2	2	984	CONDO	35
750 1ST ST			$196,500	2	2	1,350	CONDO	34
16978 CANAL CIR			$350,000	3	2	1,962	DETACHD	4
4155 CANAL RD			$689,000	4	2.1	3,736	DETACHD	574

There were no closed sales the week of February 9-15, 2009.

If links to ACTIVE properties do not bring up property information, the listing may no longer be active, but rather expired, cancelled, pending, or sold

February 11, 2009

Observations on Current Inventory

lake-photo A few days ago I spent some time analyzing inventory. I thought I’d share with you some of my observations.

On the day that I did this, February 6, 2009, there were 418 single family, detached, homes for sale in Lake Oswego. Here is the breakdown by price:

$100,000-$199,999 = 3
$200,000-$299,999 = 13
$300,000-$399,999 = 41
$400,000-$499,999 = 48
$500,000-$599,999 = 44
$600,000-$699,999 = 38
$700,000-$799,999 = 28
$800,000-$899,999 = 30
$900,000-$999,999 = 37
$1,000,000+ = 136

If you have been reading the market activity reports on Mondays here at the propertyblotter, you have probably noticed that for the last several months there have been very few properties sold in the million dollar and over price range. In fact, it has been since early December that a sale has closed at that price point. 136 houses priced over a million dollars just seems like a lot of high-end inventory. In all of 2008, 45 houses sold that were priced at a million dollars or greater. At that rate, it will take a little over 3 years for the current inventory to be sold. What does that mean? It means that if you are in the market for a high-end, luxury home, you have lots of houses to choose from and motivated sellers will be making sacrifices to get their properties sold. I think that the sellers who truly have to sell quickly will be dropping prices and making concessions to secure a good sale.

Having said that, you will also have noticed that in this Monday’s market activity report two high-end homes went sale pending: one for $995,000 and one for $1,995,000.

It is very typical that the market is slow during the holidays. Seeing the two pendings this week can be seen as the market gearing up as we approach spring, which is a very active time for sales.

In doing this, I really enjoyed seeing the break down of the numbers in the more affordable price ranges as well. There are quite a few really nice homes that would not require jumbo loan financing. A jumbo loan is $417,000 or greater and typically has a higher interest rate than a conventional loan.

I also have from time to time compared the inventory of homes priced at $350,000 or less in Lake Oswego to the inventory available in Sellwood, a neighborhood in SE Portland. I have done this because I believe that Lake Oswego is often over-looked for affordable housing because of its reputation for million dollar housing. The first time I made the comparison, last April, there were 20 houses for sale in LO and 18 in Sellwood. The next time I did it, last August, there were 28 in LO and 32 in Sellwood. At the time of this current analysis I have found 36 in LO and 27 in Sellwood. So both areas have more houses for sale priced at $350,000 or less than they did 10 months ago, and Lake Oswego continues to be strong in this price range.

The least expensive house for sale in Lake Oswego, that is not a tear-down fixer, is priced at $189,900. It was built in 1955 and has 1320 square feet with 2 bedrooms and 1 bath. It’s on a very large lot in Lake Grove.

The most expensive house for sale in Lake Oswego is Jantzen Island. A private island in the lake of 5.5 acres with a 10,000 square foot main house and a 3500 square foot guest house. It’s priced at $19,500,000.

I am curious to see how our inventory changes as we go into the spring. With the current economy it is bound to be slower than normal. If anything, the current economy is increasing the number of homes in the more modest price ranges. And for buyers who want and are able to purchase a high-end home, there is great selection and some great deals to be found.