Selling Advice Archives - Page 19 of 33

August 6, 2016

Tips & Tidbits ~ Seasonal Changes

Seasonal Changes –

Sellers~The market has been unusually activated since about January of this year. In the summer (starting approx July 4th weekend) things typically slow down just a teensy bit as people leave for vacation and many have found the homes they were looking for prior to the school-year-start in September (ie the pool of Buyers lessens some). Sellers who put their homes on the market now will still find plenty of interest as you can ascertain from our Market Activity Reports, and/but may be disappointed if they do not have a bidding war as they’ve been hearing about for awhile now. I’m not saying the market is not still good for selling, (and, there ARE ways to encourage multiple Offers at any time of year) …just be prepared for the slight change in atmosphere, which sometimes translates to not quite as much leverage when you’re the Seller. ***That said, it is all case-by-case. Why is the Buyer buying? Do they need to be settled before the school year starts? Have they lost out on other deals due to competitive bidding? You may or may not be able to find out, but if you DO know the answers to some of these questions, it can help you respond to your highest advantage. Trust your Realtor, or if you don’t have one, give me or one of us a call and we’ll be happy to help you through the changing landscape.

Buyers~A Buyer’s perspective is a little different. If you’ve been out looking and fighting for houses and losing, now may be your moment. As I mentioned above, the market has been hyper-active for a while now. As we move toward Fall, a couple of factors are in your favor. The first is that the pool of Buyers is lessening a bit for the reasons I mentioned above. This means you may not be in a competitive situation, or it may be with fewer Buyers if you are. Use the lessons you’ve learned already through trial and error. Make your Offer as strong as you are comfortable with. Talk to your Realtor (or to myself or one of us if you do not have a Realtor) and we can walk you through some ways to do that. Talk to your lender once again and revisit your strategy. If you are unsure of how your Offer price would impact you as far as your monthly payment is concerned, I always suggest having 3 dollar-amount scenarios drawn up. I find that most Buyers are surprised at how little their monthly payment is affected by making what seems to them to be a big jump in their Offer price. Bottom line: you need to be comfortable with your Offer. AND, you may be surprised at what the possibilities are for you, and sometimes this can make a difference in getting the home you really want in a still-competitive market.

Other Factors~Appraisals are really becoming more of an issue than even a month or so ago when Dianne mentioned them in a post herein. I advise my Buyer clients to talk to their lender about expediting their Appraisal in nearly every case. This costs money, so you need to assess what you can and are willing to do, but it is often a hundred or two dollars, and can mean the difference between Closing on time or not. ***That said, I have heard multitudes of horror stories in the last few weeks about Appraisals taking **weeks or months** longer unless someone pays an exorbitant amount sometimes in the thousands of dollars. I don’t mean to scare anyone. I just averted a near-disaster in this regard, and having a Realtor and lender with their eyes on the ball in this market is imperative, but this is apparently happening if there are any variables at all in a transaction that will limit the appropriate Appraisers who might be available/qualified etc. Sometimes the type of loan (VA, FHA, USDA) can limit the pool of Appraisers (I’m told) as can location of the property (is it outside of the metro area?).

The reasons for this mess are varied, but it apparently boils down to supply and demand, coupled with the newer regulations on mortgage companies. No longer can a mortgage company call an Appraiser they happen to know is familiar with a particular neighborhood or area of town. For everyone’s protection (to prevent collusion/nefarious behaviour/trying to get a particular value out of the Appraiser) mortgage companies now have to put the order in to an “Appraisal Scheduling” company. That company has a stable of Appraisers, and it is all handled mechanically. There is apparently a dearth of Appraisers due to more stringent requirements for becoming an Appraiser (I’m told), and therefore the stacks on Appraisers desks are getting higher and their time and availability to run out to more rural areas or even here in town is more scarce.

Best to set a longer timeframe for Closing to be on the safe side if you can (talk to your Realtor about what makes sense in your particular situation), and order it right away. Ordering it right away may mean that you are risking the money you pay for the Appraisal (instead of waiting till after you’ve inspected enough to know you want to proceed), but, depending on your unique circumstance, it may be your best bet.

Hope this info was helpful.

Very Best,

Linda

August 3, 2016

Market Activity ~ July 25-31, 2016

Beautiful homes in Lake Oswego… They come on the market… and they pass into the care of excited new owners. Its a wonderful thing ; )

Last week we saw 18 New properties enter the market, 24 move to Pending status, and 19 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 25-31, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
45 EAGLE CREST DR #211	$219,000	2	2	1046	CONDO
5432 KENNY ST	$379,900	3	1	1352	DETACHD
17766 ARBOR LN	$509,900	3	2	1561	DETACHD
17911 LAKE HAVEN DR	$563,000	4	2.1	2136	DETACHD
905 COUNTRY CLUB RD	$599,500	3	2.1	2817	DETACHD
4801 Heritage LN	$627,500	3	2.1	2205	DETACHD
19 WESTRIDGE DR	$659,999	4	3	3711	DETACHD
1900 GREENTREE RD	$695,000	4	3	3032	DETACHD
17372 HUNTER CT	$699,000	3	2.1	3292	DETACHD
952 A AVE	$739,900	3	2	2900	DETACHD
17771 MARYLCREEK DR	$765,000	4	3.1	4398	DETACHD
2033 RIDGEWOOD RD	$775,000	4	2.1	2668	DETACHD
2329 STONEHURST CT	$825,000	4	3	3622	DETACHD
737 ASH ST	$825,000	4	2	2428	DETACHD
840 BOCA RATAN DR	$849,900	4	3.1	4114	DETACHD
18260 River Edge CT	$949,000	4	3.1	4711	DETACHD
115 3rd ST #115	$999,000	4	2.1	2453	CONDO
1515 CHERRY LN	$1,350,000	5	3.1	5593	DETACHD

PENDING SALES (July 25-31, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
4 TOUCHSTONE DR #108	$136,000	3	2.1	1351	CONDO	26
47 EAGLE CREST DR #21	$149,000	2	1	932	CONDO	767
3974 CARMAN DR	$229,900	2	2.1	1107	CONDO	31
193 OSWEGO SMT	$235,000	2	2	1383	CONDO	6
!B	$269,000	3	2	1538	CONDO	10
2 SW MOUNTAIN CIR	$299,000	2	1.1	1372	ATTACHD	16
5060 FOOTHILLS DR #96	$305,000	3	2	1252	CONDO	2
5495 TREE ST	$355,000	3	1.1	1388	DETACHD	3
15422 PARTRIDGE DR	$475,000	4	2.1	1872	DETACHD	17
1935 FERNWOOD DR	$495,000	4	3	2100	DETACHD	26
5028 GREENSBOROUGH CT	$524,900	4	2.1	2358	DETACHD	43
14 WALKING WOODS DR	$536,000	4	3	2930	DETACHD	32
4 Essex CT	$549,900	4	2.1	2835	DETACHD	7
4951 GALEN ST	$549,900	3	2.1	2543	DETACHD	52
3845 TEMPEST DR	$574,000	4	2.1	2000	DETACHD	11
13040 PRINCETON CT	$674,900	4	2.1	3135	DETACHD	32
2063 RIDGEWOOD RD	$679,000	4	2.1	2532	DETACHD	28
4090 BUCK BRUSH LN	$699,000	4	3	3128	DETACHD	5
5955 SUNBROOK DR	$780,000	4	3	3110	DETACHD	2
5350 LAKEVIEW BLVD	$799,000	7	3.5	3005	DETACHD	6
17259 LOWENBERG TER	$895,000	4	2.1	2955	DETACHD	5
1049 NORTHSHORE PL	$939,900	3	4	2274	DETACHD	13
1774 RIDGECREST DR	$1,250,000	2	2	2053	DETACHD	6
12850 FIELDING RD	$2,500,000	9	9.2	19444	DETACHD	7

SOLD (July 25-31, 2016)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
20 CRESTFIELD CT/Upper	$175,000.00	$175,000.00	2	1.1	923	CONDO	7
61 OSWEGO SMT #61	$215,000.00	$196,000.00	2	2	1212	CONDO	28
3930 CARMAN DR	$229,900.00	$224,000.00	2	2.1	1146	CONDO	67
44 GREENRIDGE CT	$369,000.00	$380,000.00	3	2.1	1996	ATTACHD	1
40 WHEATHERSTONE	$389,900.00	$385,000.00	3	2.1	1692	CONDO	37
86 GREENRIDGE CT	$399,000.00	$414,000.00	3	2	2652	ATTACHD	1
15393 MEADOWLARK CT	$474,500.00	$474,900.00	2	2	1576	DETACHD	2
1412 MAPLE ST	$475,000.00	$475,000.00	3	1.1	1540	DETACHD	1
386 LIVINGOOD LN	$519,000.00	$519,000.00	4	3	2452	DETACHD	5
775 HEMLOCK ST	$499,900.00	$536,000.00	3	2	2038	DETACHD	4
320 DURHAM ST #2	$569,500.00	$562,000.00	3	2.1	1876	CONDO	9
4199 FRUITWOOD CT	$525,000.00	$565,000.00	3	2	2230	DETACHD	6
1641 ASH ST	$575,000.00	$595,000.00	4	3	2764	DETACHD	5
3 SCARBOROUGH DR	$685,000.00	$600,000.00	5	4	3778	DETACHD	35
659 4TH ST	$785,000.00	$812,475.00	3	2.1	2388	DETACHD	5
13607 MELROSE PL	$869,500.00	$825,000.00	4	3.1	3892	DETACHD	25
412 8TH ST	$948,000.00	$888,000.00	3	2.1	2580	DETACHD	33
18360 RIVER EDGE LN	$1,029,000.00	$995,000.00	4	2.1	3948	DETACHD	3
448 COUNTRY CLUB RD	$1,595,000.00	$1,400,000.00	4	3.1	4873	DETACHD	41

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.

July 16, 2016

News & Notes ~ June 2016

Here are the latest/June numbers for the entire Portland area:

According to the RMLS Market Action Report for the Portland Metro Area, June, 2016:

There were 4,501 New Listings in June which was up 8.6% from May, and up 5.2% from May of 2015.

At 3,158, June Closed Sales were up 9% from May’s 2,896, and down 4.4% from June of 2015’s 3,302.

June Pending Sales (Accepted Offers), at 3,390 down 4.9% from May’s 3,563, and were also 6% lower than June of 2015’s 3,605.

The Average Sale Price in June of $412,000 was up $9,500 over May’s $402,500, and also up around $42,500 from June of 2015’s $369,500.

_____________________________________________________

The combined areas of Lake Oswego and West Linn (RMLS lumps them together) for the month of June 2016 reported:

410 Active Listings

288 New Listings

189 Pending Sales

165 Closed Sales

Average Sale Price for June: $650,200

NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month. Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.

Average Time on the Market: 45 Days

July 13, 2016

Market Activity ~ July 4-10, 2016

Steady as she goes… In the summertime in beautiful, Lake Oswego : )

Last week we saw 22 New properties enter the market, 18 move to Pending status, and 18 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 4-10, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
44 EAGLE CREST DR #12	$139,888	1	1	798	CONDO
47 EAGLE CREST DR #13	$154,900	2	1	932	CONDO
4000 Carman DR #71	$189,900	2	2	834	CONDO
93 KINGSGATE RD	$415,000	3	2.1	1669	DETACHD
4841 SW DAWN ST	$425,000	3	2	1550	DETACHD
2255 GREENTREE RD	$450,000	4	2.1	2309	DETACHD
17927 BELMORE AVE	$489,000	3	1.1	1488	DETACHD
17760 CARDINAL DR	$534,900	4	2.1	2199	ATTACHD
2132 GOODALL CT	$566,500	4	3	2577	DETACHD
18521 WAXWING CIR	$600,000	3	2.1	2936	DETACHD
1002 HEMLOCK ST	$624,990	3	2.1	1950	DETACHD
1590 LARCH ST	$640,000	5	2.1	2836	DETACHD
12140 ORCHARD HILL WAY	$644,000	4	2.1	3169	DETACHD
4279 ALBERT CIR	$685,000	3	2.1	2768	DETACHD
18183 WESTMINSTER DR	$740,000	3	2.1	3191	DETACHD
5326 WESTFIELD CT	$779,000	4	3.1	3259	DETACHD
17572 SHEPHERDS CT	$879,900	4	3	2983	DETACHD
3600 SOUTHSHORE BLVD	$995,000	3	2.1	2117	DETACHD
3 DOVER WAY	$1,099,000	5	3.2	4988	DETACHD
1350 RIDGECREST DR	$1,100,000	4	3.1	3534	DETACHD
721 7TH ST	$1,249,000	4	3.1	4544	DETACHD
1640 COUNTRY CMNS	$1,595,000	4	4.1	5343	DETACHD

PENDING SALES (July 4-10,, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
47 EAGLE CREST DR #21	$149,000	2	1	932	CONDO	746
366 CERVANTES CIR #14c	$160,000	2	1	832	CONDO	2
169 OSWEGO SMT #169	$164,998	2	2	1383	CONDO	79
88 GALEN ST/Upper	$168,800	2	1	923	CONDO	2
71 GREENRIDGE CT	$365,000	3	2.1	2004	CONDO	23
18610 BENFIELD AVE	$419,000	3	1.1	1407	DETACHD	17
15393 MEADOWLARK CT	$474,900	2	2	1576	DETACHD	2
18927 INDIAN CREEK AVE	$475,000	3	2	2394	DETACHD	27
4188 COBB WAY	$499,000	6	3	2577	DETACHD	51
6 WALKING WOODS DR	$550,000	4	2.1	2870	DETACHD	54
18121 PIONEER CT	$648,000	4	2.1	2310	DETACHD	15
5714 CHARLES CIR	$649,900	4	3	2501	DETACHD	18
4801 WILDWOOD ST/Main	$659,950	4	3	2963	DETACHD	45
3718 RIVERS EDGE DR	$739,000	4	2.1	2512	DETACHD	9
5519 BAY CREEK DR	$784,900	4	2.1	3415	DETACHD	14
4069 PFEIFER CT	$879,000	5	3.1	4332	DETACHD	102
16830 CHAPIN WAY	$949,000	5	3	3097	DETACHD	22
780 NORTHSHORE RD	$2,222,000	3	2.1	2201	DETACHD	10

SOLD (July 4-10,, 2016)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
100 KERR PKWY #9	$145,000	$139,000	2	1.1	823	CONDO	5
2 St. Helens CIR	$374,000	$375,000	3	2	1464	DETACHD	6
7 PEACOCK PL	$400,000	$422,000	3	2.1	1388	DETACHD	4
2760 OVERLOOK DR	$578,500	$532,000	4	2.1	2441	DETACHD	70
21 PARTRIDGE LN	$554,900	$548,000	4	3	2478	DETACHD	5
14450 HOLLY SPRINGS RD	$550,000	$550,000	3	3	2238	CONDO	78
4954 MULHOLLAND DR	$589,900	$585,000	3	2.1	2498	ATTACHD	22
1430 WOODLAND TER	$579,000	$592,000	5	3	2904	DETACHD	8
5950 SOUTHWOOD DR	$775,000	$660,000	3	2.1	2731	DETACHD	40
17821 HILLSIDE WAY	$699,900	$700,000	4	3.1	3480	DETACHD	2
19505 OLSON AVE	$748,950	$720,000	5	2.1	2952	DETACHD	54
4719 LAKEVIEW BLVD	$725,000	$725,000	3	2.1	2923	DETACHD	5
1269 LAKE GARDEN CT	$899,000	$828,000	4	2.1	2056	DETACHD	202
336 5TH ST	$875,000	$875,000	3	2.1	2018	DETACHD	100
2125 RIDGE POINTE DR	$995,000	$945,000	3	3.1	3489	DETACHD	14
12747 SW 22ND AVE	$1,249,800	$1,170,000	4	3.1	4546	DETACHD	362
454 9TH ST	$1,198,000	$1,174,000	3	4	3278	DETACHD	25

June 21, 2016June 21, 2016

Seismic Retrofitting

As part of my continuing education I attended a class this morning put on by Zach Smith of Earthquake Tech and Gemmell Construction. Living on the West coast earthquakes are something most of us are aware of. The large quakes in California are recent enough to be remembered by most of us. The 2011 quake and Tsunami in Japan directly affected our coast line (and still does with garbage washing ashore), but for the most part it seems far away and not directly important to our lives. That changed with the publication of a New Yorker article on July 20, 2015 (“The Really Big One” by Kathryn Schulz). It brought front and center the issue that the Pacific Northwest is grossly under prepared for a major earthquake.

Some back ground is needed here. There have been 41 significant quakes (we are talking huge, like 9.0) that have happened in the Cascadia Subduction Zone off of the Oregon Coast in the last 10,000 years. The major fault in this zone is the San Juan de Fuca plate which runs from Northern California to Vancouver Island. The average occurance is every 243 years. The last quake was 9.0 on January 26, 1700. So we are now 316 years into a 243 year cycle. Of course these quakes don’t occur on a specific time schedule. This is an average. Some quakes have been many hundreds of years apart and some less than a hundred. When the next quake will occur is a complete unknown. What is known is that it will happen, we just don’t know when.

So, we know it will come, but what should we do about it? There are some really basic steps that are promoted as earthquake preparedness:
* Seismically retrofit your house if it is older than about 1980. If it was built since 1980 you should still have it examined to see if there is anything more that you can do. Retrofitting should include strapping your house to it’s foundation, strapping the water heater to brace it against a secure part of the house, brace your chimney, at a minimum put a shut-off wrench next to your gas meter, or better yet, install an automatic shut off valve that will engage as soon as it detects that the house is moving.
* Get earthquake insurance. Earthquake damage is not covered in standard home insurance policies. It is a rider to the policy and must be purchased separately.
* Have a supply of water that will last for enough time to provide 1 gallon of water per day for each person in the house. Different experts suggest different times to expect utilities to be down, a few days or a few weeks, store what you can manage.
* Have a supply of non-perishable food
* Have earthquake preparedness kits in your home, your car, and your office. Don’t forget supplies for your pets.

I think the big question is how much does it cost to retrofit a house. I was surprised this morning to learn that on average it runs $2000-$8000 for homes built from the turn of the Century to the 1970’s. The cost is dependent upon how big the house is and the condition of the foundation. If the house has a bad foundation (Zach referred to brick foundations a “standing rubble”) then the cost goes up significantly in the range of $50,000-$200,000. I felt encouraged that the average house can be done for under 10K.

I was extremely impressed with Zach’s presentation this morning. If your home is within the metro area he will come and give you an estimate at no charge. For information on Earthquake Tech click here.

I also want to give a shout out to Jay Kushner of Seismic Technologies. I have been referring clients to Jay for years. He is knowledgeable and a tremendous resource for assessment of the seismic preparedness of homes. For his information click here.

Let’s hope we never have The Big One happens in our life times, but let’s also be aware and pro-active so that if it does, we have the best chances possible for our homes and for our families.
Dianne

June 12, 2016June 14, 2016

What Color Should I Paint My Home?

I just got done with my own house-painting project, and didn’t think it would take as much of my time or thought process as it did! Being in this business, you’d think I’d sail right through that one, and/but when it is your own home, its always a different experience. There are lots of things to think about. Color is the first one. I gave myself weeks of driving around and consciously looking at homes and trying to picture myself coming home to that color. As time went on, I noticed that I was attracted to a particular color combination which I had used on a previous home. I had really wanted to try something new, but in the end, the color combo I chose is what made ME feel that “home” feeling.

Here are a few things that came up for me, and that you might find helpful:

You’ll want to think about how many colors to employ. Some people use one color for the main body of the home, another for the basement (if there is one) and another for eves or dormers or other accent features. Others use one color for the whole body. If your home is small, consider that it may look larger if you avoid visually chopping it up by, for instance, painting the basement a different color. If it is a larger home, a little contrast may be nice. Also, remember the porch.
If you have a comp roof, what color is it? Take that into consideration as you contemplate complimentary color schemes.
If you are selling your home, talk to your Realtor and/or the paint store about popular colors. Its wise to stay neutral, and/but you don’t want to be boring!
Walk around your neighborhood. Take a look at the colors on the block. It may inform you as to what will be appealing from the street. You don’t want three dark grey w/white trim houses right next to each other…
I was advised (and it turned out to be true) that the color will show up a little lighter on the walls than it looks inside the paint store.
In addition… I’ll share a little superstition with you that I find charming. Many believe that it is a good idea to paint the underside of your porch’s ceiling blue. It is considered Good Luck. You can Google it & find out more. Bottom line? I like Good Luck (I don’t see a downside : ) I am loving my blue ceiling on the porch.
Many people use more than one color on the trimwork & windows. As in beige with black accents, green with beige accents. If you are going for contrast and/or just like white trim, most professionals will tell you to use an off-white as it shows wear (and dirt) less.
Consider paint quality and your priorities. If you are staying in your home for the long-term, you may choose a higher-quality paint (I did ). It wears longer and means you won’t likely need to paint for many years to come. If you are selling your home and spending money on multiple projects, you may want to choose a standard paint. Most reputable paint companies have great quality standard paints that last a long time!
Ask for referrals from friends and/or your Realtor when you choose a painter. You want someone who knows what they are doing and is responsible, licensed and bonded. I’d advise getting three bids. I found there to be a wide variety of pricing and professionalism.
Lastly… Make sure YOU are happy with your color choice. Don’t let anyone talk you into something that doesn’t feel like “home” to you.

June 11, 2016

Market Activity ~ May 30-June 5, 2016

We were a teensy bit slower in Lake Oswego last week…then again… with 100 degree temperatures, we were all melting!

Last week we saw 9 New properties enter the Lake Oswego market, 18 move to Pending status, and 18 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 30-June 5, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
534 2ND ST	$469,000	2	2.1	1394	CONDO
1710 YARMOUTH CIR	$495,000	2	2	1540	DETACHD
4951 GALEN ST	$589,900	3	2.1	2543	DETACHD
3 SCARBOROUGH DR	$649,000	5	4	3778	DETACHD
5314 CHILDS RD	$864,000	6	2.1	3272	DETACHD
725 OAK MEADOW CT	$1,150,000	4	2.2	3754	DETACHD
13372 FIELDING RD	$1,150,000	4	4.1	4074	DETACHD
13017 KNAUS RD	$1,299,000	4	3.1	4690	DETACHD
260 IRON MOUNTAIN BLVD	$2,798,000	4	4.2	6048	DETACHD

PENDING SALES (May 30-June 5, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
31 OSWEGO SMT /Main	$174,000	1	1	721	CONDO	14
4000 CARMAN DR B27	$174,900	2	2	950	CONDO	4
342 CERVANTES CIR	$185,000	2	1.1	1104	CONDO	33
210 S STATE ST #8	$340,000	2	2.1	1614	CONDO	100
5295 OAKRIDGE RD	$394,900	3	2	1182	DETACHD	6
21 PARTRIDGE LN	$554,900	4	3	2478	DETACHD	5
29 DEL PRADO ST	$650,000	4	2	3037	DETACHD	6
5950 SOUTHWOOD DR	$659,000	3	2.1	2731	DETACHD	40
839 COUNTRY CMNS LN	$710,000	3	2.1	3089	DETACHD	0
13528 TWIN CREEK LN	$775,000	4	3.1	3129	DETACHD	52
336 5TH ST	$875,000	3	2.1	2018	DETACHD	100
3788 Southshore BLVD	$915,000	3	3	3224	DETACHD	17
14261 UPLANDS DR	$939,000	5	4	3843	DETACHD	28
884 CEDAR ST	$995,000	4	3.1	3120	DETACHD	102
2125 RIDGE POINTE DR	$995,000	3	3.1	3489	DETACHD	14
301 IRON MOUNTAIN BLVD	$1,095,000	4	3.2	2946	DETACHD	32
13084 AMBER PL	$1,199,099	4	3	3281	DETACHD	6
448 COUNTRY CLUB RD	$1,495,000	4	3.1	4873	DETACHD	41

SOLD (May 30-June 5, 2016)

Address	Opening Price	Closed Price	# Beds	# Baths	Total SF	Prop Type	CDOM
47 EAGLE CREST DR #21	$100,000	$100,000	2	1	932	CONDO	714
167 Oswego Summit /Lower	$180,000	$180,000	2	2	1506	CONDO	27
200 BURNHAM RD #102	$199,900	$199,900	1	1	733	CONDO	33
668 MCVEY AVE #85	$215,000	$220,000	2	1.1	992	CONDO	3
165 OSWEGO SUMMIT #165	$235,000	$250,000	2	2	1383	CONDO	4
45 EAGLE CREST DR #519	$275,000	$275,000	3	2	1453	CONDO	3
1400 PARRISH ST	$349,900	$347,500	3	2.1	1880	CONDO	60
4131 OLD GATE RD	$369,950	$369,000	4	2	1776	DETACHD	36
4902 CHILDS RD	$355,000	$375,000	3	1.1	1407	DETACHD	10
16510 MAPLE CIR	$399,000	$375,000	1	1		DETACHD	24
4251 WOODSIDE CIR	$419,000	$417,500	3	2	2068	ATTACHD	48
67 TANGLEWOOD DR	$499,000	$535,000	4	2.1	3068	DETACHD	4
51 HILLSHIRE DR	$715,600	$645,000	3	2.2	4268	DETACHD	87
13978 WESTCOTT CT	$735,000	$750,000	3	3	3361	DETACHD	14
2110 SUMMIT DR	$799,900	$770,000	4	2	2525	DETACHD	7
844 5TH ST	$1,100,000	$1,100,000	3	3	2590	DETACHD	19
12842 ALTO PARK RD	$1,399,000	$1,399,000	5	4.2	4359	DETACHD	5
3168 LAKEVIEW BLVD	$3,495,000	$3,400,000	4	5.1	4420	DETACHD	0

May 21, 2016

News & Notes ~ April 2016

April is seeing, generally, Price and New Listings increases over March, and a decrease in overall productive activity (Closed & Pending Sales) compared to April of last year.

Here are the latest/April numbers for the entire Portland area:

According to the RMLS Market Action Report for the Portland Metro Area, April, 2016:

There were 4,082 New Listings in April which was up 19.7% from March’s (3,409), and up 3.4% from April of 2015 (3,949).

At 2,611, April Closed Sales were up 1.8% from March’s 2,565, and down 4.5% from April of 2015’s 2,734.

April Pending Sales (Accepted Offers), at 3,432 were up 11.6% from March’s 3,076, but were 5% lower than April of 2015’s 3,613.

The Average Sale Price in April of $397,700 was up $12,600 over March’s $385,100, and also up around $50,200 from April of 2015’s $347,500.

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The combined areas of Lake Oswego and West Linn (RMLS lumps them together) for the month of April 2016 reported:

324Active Listings (March was 284)

255 New Listings (March was 189 )

177 Pending Sales (March was 150) ***Down 11.5% from Apr 2015)

150 Closed Sales (March was 114)

Average Sale Price for April: $650,000 (March/$639,500. )

NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month. Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.

Average Time on the Market: 57 Days (March was 92)

May 18, 2016May 21, 2016

Market Activity ~ May 9-15, 2016

The overall Portland area is experiencing record activity, and, as it so deserves, Lake Oswego is very popular as a destination in the metro area for those making one kind of life change or another. As always, you’ll notice the full range of price-points; a fact about Lake Oswego lost on many. Yes, there are lots of options here!

Last week we saw 19 New properties enter the Lake Oswego market, 30 move to Pending status, and 16 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 9-15, 2016)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
206 OSWEGO SMT -Main	$249,000	2	2	1506	CONDO
5500 MCEWAN RD	$435,000	3	2	1820	DETACHD
18978 INDIAN SPRINGS RD	$529,900	4	3	2860	DETACHD
1161 UPPER DEVON LN	$574,995	4	2.1	2265	DETACHD
6 WALKING WOODS DR	$575,000	4	2.1	2870	DETACHD
1430 WOODLAND TER	$579,000	5	3	2904	DETACHD
510 COUNTRY CLUB RD	$655,000	4	3	3274	DETACHD
1400 HORSESHOE CURV	$679,000	3	2.1	2248	DETACHD
4252 ALBERT CIR	$689,000	4	2.1	2964	DETACHD
5530 DUNMIRE DR	$725,000	4	3	3040	DETACHD
15964 PARKER RD	$799,900	4	3.1	3378	DETACHD
220 GREENWOOD RD	$850,000	3	4	2701	DETACHD
3788 Southshore BLVD	$915,000	3	3	3224	DETACHD
4726 UPPER DR	$923,000	3	2	2250	RES-MFG
16872 QUAIL CT	$965,000	4	3.1	3174	DETACHD
1692 VILLAGE PARK LN	$975,000	4	3.1	3581	DETACHD
4136 CASEY CT	$1,195,000	5	3.1	3998	DETACHD
1622 LESLIE LN	$1,795,000	5	3.1	5827	DETACHD
1400 RIDGECREST DR	$2,250,000	4	4	4202	DETACHD

PENDING SALES (May 9-15, 2016)

Address	List Price	# Bedrooms	Total Baths	Total SF	Prop Type	CDOM
65 GALEN ST -Grnd	$135,000	1	1	689	CONDO	4
30 CERVANTES CIR -Lower	$159,000	2	1.1	1112	CONDO	7
3916 CARMAN DR -Main	$229,900	2	2.1	1098	CONDO	74
165 OSWEGO SUMMIT #165	$235,000	2	2	1383	CONDO	4
16250 PACIFIC HWY #74	$274,899	2	2	1324	CONDO	47
10 SAINT HELENS CIR	$300,000	3	2	1410	DETACHD	7
4 WHEATHERSTONE	$372,000	3	2.1	1692	ATTACHD	2
26 PREAKNESS CT	$375,000	2	1.1	1464	ATTACHD	5
3488 DEVONSHIRE DR	$399,900	2	2	1647	ATTACHD	4
128 KINGSGATE RD	$405,000	3	2.1	1689	DETACHD	1
5829 BENFIELD CT	$459,000	4	2.1	1744	DETACHD	78
13449 VERMEER DR	$495,000	3	2.1	1877	DETACHD	2
4 MORNINGVIEW PL	$499,000	2	2.1	1880	ATTACHD	43
17436 WREN CT	$529,000	4	3	2278	DETACHD	14
5182 TREE ST	$549,900	4	2	1750	DETACHD	36
2760 OVERLOOK DR	$569,500	4	2.1	2441	DETACHD	28
2302 OVERLOOK DR	$579,000	4	2.1	3125	DETACHD	334
4954 MULHOLLAND DR	$589,900	3	2.1	2498	ATTACHD	22
4717 FIRWOOD RD	$599,000	6	3	2502	DETACHD	0
20 MONTICELLO DR	$599,900	3	3.1	3848	DETACHD	4
20 JUAREZ ST	$619,000	5	4	3464	DETACHD	233
839 E AVE	$649,000	4	2.1	1722	DETACHD	5
17700 KELOK RD	$670,000	3	3	2480	DETACHD	5
187 FURNACE ST -Upper	$724,900	2	2.1	1927	DETACHD	0
18411 TAMAWAY DR	$739,000	4	2.1	2576	DETACHD	6
100 LEONARD ST -Upper	$749,000	3	2.1	2734	CONDO	17
1269 LAKE GARDEN CT	$869,000	4	2.1	2056	DETACHD	202
19460 SW EASTSIDE RD	$969,000	5	4.1	4521	DETACHD	64
18493 RAY RIDGE DR	$1,050,000	4	3.3	4401	DETACHD	367
17849 UPPER CHERRY LN	$3,200,000	4	6.3	8731	DETACHD	0

SOLD (May 9-15, 2016)

Address	O/Price	Close Price	# Bedrooms	Total Baths	Prop Type	Total SF	CDOM
86 KINGSGATE RD #C201	$149,900	$160,000	2	2	CONDO	938	3
48 EAGLE CREST DR #1C	$239,000	$245,000	2	2	CONDO	1399	1
5057 FOOTHILLS DR #F	$285,000	$284,500	2	2	CONDO	1272	31
6343 HIAWATHA CT	$375,000	$375,362	3	1	DETACHD	1056	3
125 MIDDLECREST RD	$399,900	$390,000	3	1	DETACHD	800	23
4101 CHAPMAN WAY	$465,000	$460,000	3	2.1	DETACHD	1864	142
18922 KRISTI WAY	$415,000	$475,000	2	2	DETACHD	1397	4
13852 SHIREVA DR	$550,000	$540,000	5	3	DETACHD	2664	74
5124 LAKEVIEW BLVD	$579,000	$570,000	4	3	DETACHD	2932	153
2500 PARK RD	$579,900	$579,900	3	3	DETACHD	1811	29
4 CAMELOT CT	$640,000	$642,500	5	3	DETACHD	3344	5
639 CARRERA LN	$849,000	$759,000	5	3.1	DETACHD	4305	331
4018 CANAL WOODS CT	$839,900	$800,000	5	3.1	DETACHD	3600	177
5876 RIDGETOP CT	$819,000	$819,000	4	2.1	DETACHD	3280	6
13050 KNAUS RD	$1,699,000	$1,650,000	4	3.1	DETACHD	4821	56
13056 KNAUS RD	$1,688,000	$1,688,000	4	3.1	DETACHD	5244	1

April 30, 2016

Internet and the Open House

So many things about marketing a home for sale have changed due to the Internet. One of those things is the importance of an open house.

For years there was a disconnect between open houses and marketing in general. Sure, back in the day a Realtor would put an ad in the newspaper to advertise an open house. People would come in with the homes section in hand and red ink circled around the houses that they were touring that day. Then along came the Internet but there was not an open house connection. That changed about 5 years ago and today it is a huge driving force in the early marketing of a property.

Today the RMLS allows a Realtor to post their open houses directly into the data. This is then picked up widely across the Internet with sights like Zillow and Redfin.

Add to that today’s fast market. The new listings are a huge draw for prospective buyers. They are on the Internet as never before watching for their dream house.

A well planned marketing strategy is to list a house toward the end of the week, Thursday or Friday, plan open houses all weekend on the first weekend, and then wait for the hordes of buyers to come on thru. I have done this twice this spring and in both cases it worked beautifully.

So, yes, open houses are an important marketing tool: now more than ever.

Having shared this, please come and see me today. I am holding open a new listing in our neighboring community of West Linn. 2759 Ridge Lane was built in 2010. It is a gorgeous Renaissance built home with all of the goodies Renaissance is known for: huge gourmet kitchen, substantial wood work with extra trim and cabinetry, a master suite that is substantial with custom walk-in shower, garden tub, double sinks and a big walk-in closet. There are 4 bedrooms + a bonus room. There is a 3 car garage that is tandem on one side. There is a big, flat fenced yard with a covered patio. It’s a lot for $629,900. In Lake Oswego this house would be $900,000. Please come on by. I will be holding it open today and tomorrow from noon to 3pm.
Dianne