No matter what holiday you celebrate at this time of year, we (Dianne, Linda & Whitney : ) wish you a home full of Peace, a heart full of Love, and those you hold dear to be near. 
Market Activity ~ Dec 15-21, 2014
Yes, real estate is happening : )
Here is your Latest Market Data: Last week in Lake Oswego we saw 5 New properties enter the market, 9 move to Pending status, and 13 “Closed”/Sold!
Following is the breakdown for you according to RMLS:
NEW on Mkt (Dec 15-21, 2014)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type |
| 490 BOCA RATAN DR | $519,000 | 3 | 2 | 2023 | DETACHD |
| 6459 FROST ST | $529,000 | 4 | 2.1 | 2627 | DETACHD |
| 3433 MCNARY PKWY #203 | $150,000 | 2 | 1.1 | 1008 | CONDO |
| 3009 WEMBLEY PARK RD | $598,500 | 4 | 2.1 | 1704 | DETACHD |
| Highlands LOOP | $2,195,000 | 4 | 4.1 | 5579 | DETACHD |
PENDING SALES (Dec 15-21, 2014)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 3986 CARMAN DR | $204,900 | 2 | 2.1 | 1107 | CONDO | 58 |
| 3100 WESTVIEW CT | $929,000 | 4 | 3.1 | 3750 | DETACHD | 17 |
| 18375 RIVER EDGE LN | $897,950 | 4 | 2.1 | 3400 | DETACHD | 27 |
| 17138 CEDAR RD | $1,495,000 | 3 | 3.1 | 3017 | DETACHD | 89 |
| 2131 WEMBLEY PARK RD | $539,000 | 4 | 2.1 | 3228 | DETACHD | 188 |
| 12810 ALTO PARK RD | $964,000 | 5 | 3.1 | 3834 | DETACHD | 97 |
| 820 FAIRWAY RD | $1,189,000 | 4 | 3.1 | 3758 | DETACHD | 331 |
| 555 COUNTRY CLUB RD | $625,000 | 3 | 3 | 2133 | DETACHD | 159 |
| 169 OSWEGO SMT #169 | $100,280 | 2 | 2 | 1330 | CONDO | 63 |
SOLD (Dec 15-21, 2014)
| Address | Opening Price | Closed Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 17547 CHERRY CT | $1,225,000 | $978,850 | 4 | 3.1 | 3737 | DETACHD | 337 |
| 19354 LORNA LN | $950,000 | $1,049,888 | 5 | 3.1 | 4169 | DETACHD | 403 |
| 16987 ALDER CIR | $395,950 | $400,000 | 3 | 2 | 1713 | DETACHD | 4 |
| 16990 LOWER MEADOWS DR | $369,900 | $374,900 | 3 | 2.1 | 2000 | DETACHD | 2 |
| 37 CHURCHILL DOWNS | $470,000 | $475,000 | 3 | 2.1 | 2372 | DETACHD | 4 |
| 4724 FIRWOOD RD | $329,000 | $325,000 | 3 | 1.1 | 1240 | DETACHD | 5 |
| 21 SUMMIT RIDGE CT | $339,000 | $332,000 | 2 | 2.1 | 1654 | ATTACHD | 16 |
| 200 BURNHAM RD #211 | $385,000 | $317,000 | 3 | 2 | 1862 | CONDO | 85 |
| 2341 STONEHURST CT | $659,000 | $659,000 | 4 | 2.1 | 3389 | DETACHD | 2 |
| 1531 BOCA RATAN DR | $289,000 | $277,000 | 3 | 2 | 1755 | ATTACHD | 57 |
| 804 2ND ST | $505,000 | $400,000 | 4 | 3 | 2224 | ATTACHD | 50 |
| 17619 Potters RD | $575,000 | $575,000 | 4 | 2.1 | 2665 | DETACHD | 9 |
| 2612 RIVENDELL RD | $799,000 | $730,000 | 4 | 3 | 3168 | DETACHD | 93 |
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.
First Time Home Buying and Financing Assistance Programs
Hey all! I’m posting a little out of order so bear with me!
So this time around I’d like to reach out to our readers who are first-time home buyers or are thinking of buying their first home (which is mostly my generation at this point!). I know many who read this blog know my mom and know Linda, and are on not their second home, but possibly even their third or fourth (or are buying houses as investment properties). I will need your help with this, but I will get to that a little later in my post!
So I had coffee a couple weeks back with my good friend Ginny Schider, who is a Mortgage Banker and who is helping me learn a little bit more about the ins and outs of financing for homes. One of my big concerns was that a grand majority of people my age are renters, who talk about one day finding the home of their dreams but who feel they are unable to afford costly down-payments.
”My generation has been really put through the ringer,” I said to Ginny over a warm spiced chai “especially for those of us who graduated during the economic fall around 2008. A lot of my friends work food service and have to deal with student debt. It kind of feels like owning a home is so far out of reach.”
Then Ginny smiled at me and said “You know there is down payment assistance for first time homebuyers as well as grants that they can receive to aid in the purchase of their first home.”
This immediately sparked my interest as I was fully aware that buying a home for the first time can be so overwhelming, and with most of my friends working at coffee shops, restaurants, and retail; going from an apartment to a house/condo can seem like a blind leap into the abyss of added debt. So I inquired further about these payment assistant programs that are geared toward helping people in the position of purchasing their first home. One of which works similar to a grant (and for those of us who have had to pay for college, grants are a pretty sweet deal!)
Ginny told me that about her own company offering a grant (The PRM Platinum Purchase Program) which can cover up to 5% of the loan on purchasing a property. This could help pay for down payments and even closing costs, which can come across as a little daunting at first. This particular grant is provided by her company; Pacific Residential Mortgage. After mentioning this, she and I spoke further on various tools available for new home buyers (though existing home owners are eligible for this grant as well). She also mentioned two programs that are geared toward offering assistance for anybody within Clackamas County: Clackamas Homebuyer Assistance Program (CHAP) and NCRA which is a program that works with licensed lenders to loan up to $14,000 to help pay for down payments and closing costs (though she later told me that these assistance programs are not grants, because you later pay them back when you sell the house). These assistance programs are provided via the community rather than that of her company and are only available for first-time home buyers.
Now I know that so far I have come across as a little gimmicky, and I’ll be completely honest about it: I’ve been writing about assistance programs and grants to help spark interest in making that push toward purchasing a home. But you know what? Buying your first home IS scary, it IS difficult, it can be overwhelming, and these assistance programs are meant to help cushion the blow so that more people can add home ownership to their assets. Being a homeowner is a very important boon to your own personal worth as that property is yours. Everybody wants the home of their dreams and financing it makes up the grand majority of achieving that goal, so it is really nice that there are tools out there to help.
So now I am going to wrap up my blog post by asking our experienced readers out there to share a little bit about their own first-time home buying experience! We may not get very many posts as some may feel shy, but that is alright! I think it is important to hear that we have all been in the same boat with taking on the pins and needles sensation of buying a first home, and I would like to share to help our new home buyers know that they are not alone!
For more information on home buying assistance please feel free to send me an e-mail!
WhitneyGregoire@OregonFirst.com
Where did the lake go?
If you’ve seen the lake in the last few weeks you would have noticed that the water level is dramatically lowered from it’s normal depth. This is done every three years to allow home owners along the lake to repair sea walls and boat houses. It also allows the many members of lake easements to do the same types of repairs on the easement property.
Dropping the water level was done by allowing water out on November 11th via the spill way at the East end of the lake. On January 2nd the lake will be allowed to naturally refill with rain and the water that feeds the lake at the Tualatin River. It will take about two months to refill to its normal level. So it will be back to normal in plenty of time for warm weather recreation.
I’ve seen this done many, many times over the years. The explanation is always that it allows repair of sea walls, etc. I also am of the opinion that it improves the water quality.
In any case, it is a bit of an unusual sight with a reasonable explanation.
Dianne
Market Activity Dec 1-7, 2014
As much as there is a myth that houses don’t sell during the holidays, last week’s market activity shows that it is, in fact, a myth. In Lake Oswego there were 12 new listings, 9 homes that became pending sales, and 16 homes that became closed sales.
Following is the breakdown for you according to RMLS:
New on the Market (Dec 1-7, 2014)
| Address | Type | Price | BR | Bths | SF |
| 86 Kingsgate Rd H102 | Condo | $136,900 | 2 | 2 | 849 |
| 4000 Carman Dr #23 | Condo | $156,500 | 2 | 2 | 866 |
| 210 State St | Condo | $175,000 | 2 | 1 | 1284 |
| 4089 Jefferson Pkwy | Condo | $199,950 | 2 | 2.5 | 1361 |
| 852 5th St | Detached | $379,000 | 2 | 1 | 738 |
| 6 Gershwin Ct | Detached | $379,000 | 5 | 3 | 2416 |
| 4504 Wildwood St | Detached | $399,000 | 3 | 2 | 1655 |
| 17251 Greentree Ave | Detached | $414,950 | 4 | 2.5 | 2728 |
| 13721 Regency Ct | Detached | $509,500 | 3 | 2.5 | 2311 |
| 14372 Camden Ln | Detached | $519,900 | 3 | 2.5 | 2348 |
| 2286 Wembley Park Rd | Detached | $774,999 | 3 | 3 | 2000 |
| 3100 Westview Ct | Detached | $929,000 | 4 | 3.5 | 3750 |
| 18024 Eastridge Ln | Detached | $1,498,800 | 4 | 3.5 | 4526 |
Pending Sales (Dec 1-7, 2014)
| Address | Type | Price | BR | Baths | SF | DOM |
| 18 Oswego Summit | Condo | $54,900 | 1 | 1 | 764 | 176 |
| 15938 Quarry Rd 1A | Condo | $149,000 | 2 | 1 | 991 | 8 |
| 6360 McEwan | Detached | $319,888 | 3 | 1.5 | 1450 | 53 |
| 5344 Tualata Ct | Detached | $339,827 | 3 | 2 | 1283 | 45 |
| 16987 Alder Circle | Detached | $395,950 | 3 | 2 | 1713 | 4 |
| 1868 Kilkenny Dr | Detached | $535,000 | 3 | 2.5 | 2300 | 83 |
| 754 5th St | Detached | $755,000 | 3 | 3 | 2179 | 91 |
| 18224 Bella Terra Dr | Detached | $1,195,000 | 4 | 3.5 | 4050 | 146 |
| 1968 Cheryl Ct | Detached | $1,495,000 | 4 | 4.5+.5+.5 | 6153 | 11 |
Sold/Closed (Dec 1-7, 2014)
| Address | Type | List Price | Closed Price | Sq Ft | CDOM |
| 4 Touchstone #76 | Condo | $124,000 | $119,000 | 984 | 43 |
| 98 Oswego Summit | Condo | $146,000 | $136,000 | 1140 | 152 |
| 4470 Chapman Way | Detached | $360,000 | $347,500 | 2125 | 174 |
| 528 2nd St | Attached | $439,500 | $428,000 | 1,703 | 16 |
| 377 Livingood Ln | Detached | $400,000 | $429,000 | 2409 | 3 |
| 5978 Fernbrook Circle | Detached | $449,900 | $442,000 | 1612 | 12 |
| 1765 Conifer Dr | Detached | $475,000 | $448,000 | 2330 | 127 |
| 201 Ridgeway Rd | Detached | $589,000 | $589,000 | 2327 | 86 |
| 17601 Woodhurst Pl | Detached | $675,000 | $650,000 | 3179 | 80 |
| 3075 Tolkien Ln | Detached | $649,000 | $660,000 | 2667 | 9 |
| 4090 Westbay Rd | Detached | $749,900 | $719,000 | 2078 | 59 |
| 14144 Goodall Rd | Detached | $849,000 | $765,000 | 3499 | 298 |
| 15444 Boones Way | Attached | $850,000 | $820,000 | 3464 | 4 |
| 841 Northshore Rd | Detached | $949,850 | $865,000 | 2388 | 140 |
| 925 Iron Mountain Blvd | Detached | $1,119,000 | $1,020,000 | 3555 | 119 |
| 907 Terrace Dr | Detached | $1,795,000 | $1,900,000 | 6919 | 572 |
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.
Giving
We’re all focusing on the holidays right now and all that goes along with that, so I thought it might be a good idea to take a look at things we might be wanting to include on our to-do lists & consider taking care of before the end of the year. Namely…Giving! This is the Celebrating & Giving time of year, and, many want to think ahead about tax time as well. If you’re going to give anyway…. this is definitely the time to do it!
Here are some worthy ideas for your consideration:
- In the community of Lake Oswego, there are many organizations doing fantastic work. Click Here for information on a variety of Lake Oswego-based non-profits that could use your help.
- Here’s a great resource site to help yopu evaluate the most worthy recipients of your donations based on their research: The Portland “Give Guide”
- One of the things that sets Lake Oswego apart is its committment to the arts, and the availability and visibility of art all through the year and on its very streets. If art is important to you, consider donating to the Arts Council.
- Speaking of giving, I know from my days in a Lake Oswego Schools Booster Club, that every community has needy families. Some of your kids’ friends may very well have parents who’ve lost a job, or are in some sort of upheaval and wondering how they’re going to be able to pay their bills let alone create a semi normal-feeling holiday for their household . Your favorite local school probably has names of families in need. Give a call to the school of your choice and think about donating a holiday roast or turkey, or just dropping off a few gifts. The school counselor usually knows just what to do with this kind of generosity, and you’ll know you really made a difference for some needy family in your own neighborhood.
- If animals are near and dear to your heart, there are lots of options for donating. The Oregon Humane Society is an obvious choice, and/but some smaller outfits that take up the slack and don’t have quite the visibility of the OHS would be heart-warmed to receive your donation. One that is recommended to me by someone in the know is the Family Dogs New Life Shelter. It is a no-kill shelter that does excellent work.
- Lake Oswego’s Tryon Creek is such a treasure to the community. If nature and its continued availability in communities, and specifically Lake Oswego, is important to you, consider donating to Friends of Tryon Creek.
There are so many great choices, I thought I’d highlight just a few and give you some links to resources that offer many options. Enjoy your holidays, and the Joys that come with the season!
Market Activity ~ Nov 24-30, 2014
Greetings, Property Blotter readers! OK, I will go out on a limb and say that things are slowing down a bit. I call this the Holiday Black Hole : ) I do business this time of year every year because people either Buy or Sell for so many reasons… most not having to do with the weather… and time of year often plays into the desire to accomplish something (by moving) at or around the time of the turn of the year. Anyway, I decided that for myself a long time ago, and so it is ; ) But most people take their minds off real estate at this time of year and put them on family, friends, and the things that really matter in Life… some of us just have “dual duty” in helping to make changes that house the family and friends that we Love, while decorating and toasting with Loved ones all at once! …and that’s plenty of fun too.
Here is your Latest Market Data: Last week in Lake Oswego we saw 9 New properties enter the market, 10 move to Pending status, and 8 “Closed”/Sold.
Following is the breakdown for you according to RMLS:
NEW on Mkt (Nov 24-30, 2014)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type |
| 5275 OAKRIDGE RD | $349,900 | 3 | 1 | 1267 | DETACHD |
| 5590 KILCHURN AVE | $624,900 | 4 | 2.1 | 2472 | DETACHD |
| 13070 BOONES FERRY RD | $549,000 | 3 | 1 | 1864 | DETACHD |
| 910 FAIRWAY RD | $1,098,000 | 4 | 3.1 | 3384 | DETACHD |
| 34 DEL PRADO ST | $569,950 | 4 | 3 | 3120 | DETACHD |
| 1075 OAK TER | $355,000 | 3 | 2 | 1356 | DETACHD |
| 66 GALEN ST (Upper) | $109,500 | 1 | 1 | 689 | CONDO |
| 2234 FERNWOOD CIR | $545,000 | 4 | 3 | 2975 | DETACHD |
| 2109 WEMBLEY PARK RD | $819,000 | 5 | 3 | 3154 | DETACHD |
PENDING SALES (Nov 24-30, 2014)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 18951 INDIAN SPRINGS CIR | $449,900 | 5 | 3 | 2865 | DETACHD | 3 |
| 1744 FERN PL | $599,000 | 4 | 2.1 | 2110 | DETACHD | 10 |
| 59 GALEN ST (Lower) | $94,900 | 1 | 1 | 550 | CONDO | 22 |
| 831 4TH ST | $525,000 | 3 | 1.1 | 2240 | DETACHD | 20 |
| 100 KERR PKWY #11 | $95,000 | 1 | 1 | 617 | CONDO | 282 |
| 19211 TERRY AVE | $370,000 | 4 | 2 | 1872 | DETACHD | 9 |
| 5048 TREE ST | $310,000 | 3 | 1.1 | 1232 | DETACHD | 7 |
| 12819 ALTO PARK RD | $1,038,500 | 4 | 4.1 | 3944 | DETACHD | 8 |
| 1045 BULLOCK ST | $568,000 | 3 | 2.1 | 2105 | DETACHD | 11 |
| 5726 CHARLES CIR | $696,500 | 4 | 3.1 | 3173 | DETACHD | 104 |
SOLD (Nov 24-30, 2014)
| Address | O/Price | Close Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 3061 DORIS CT | $449,000.0 | $420,000.0 | 5 | 2 | 2684 | DETACHD | 68 |
| 87 OSWEGO SMT (Lower) | $119,000.0 | $79,000.0 | 2 | 1.1 | 1116 | CONDO | 125 |
| 16342 IVY LN | $699,900.0 | $645,000.0 | 5 | 3.1 | 4645 | DETACHD | 57 |
| 137 KINGSGATE RD | $446,000.0 | $449,000.0 | 3 | 2.1 | 2372 | DETACHD | 2 |
| 13327 ATWATER LN | $895,000.0 | $840,000.0 | 3 | 2 | 3004 | DETACHD | 220 |
| 6243 SW DAWN ST | $314,000.0 | $302,500.0 | 3 | 1.1 | 1254 | DETACHD | 89 |
| 4 TOUCHSTONE #110 | $149,000.0 | $145,000.0 | 2 | 2 | 989 | CONDO | 85 |
| 18936 BRYANT RD | $749,900.0 | $670,000.0 | 4 | 4 | 4100 | DETACHD | 189 |
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.
Market Activity November 17th to the 23rd
Looks like things aren’t slowing down even in the late fall. We have twelve brand new listings here in Lake Oswego, fourteen pending properties, and seventeen sold homes! Looks like this is a very busy start to the holidays.
Following is the breakdown for you according to RMLS:
New on the Market (Nov 15-23, 2014)
| Address | Type | Price | Bedrooms | Bathrooms | Sqft | 47 EAGLE CREST DR #40 | CONDO | 89,500 | 1 | 1 | 696 | 4 TOUCHSTONE #78 | CONDO | 164,900 | 3 | 2.5 | 1351 | 1803 BOCA RATAN DR | ATTACHED | 297,000 | 2 | 2.5 | 1739 | 5048 TREE ST | DETACHED | 310,000 | 3 | 1.5 | 1232 | 16470 BRYANT RD | DETACHED | 324,900 | 3 | 2 | 2024 | 19211 TERRY AVE | DETACHED | 370,000 | 4 | 2 | 1872 |
| 6435 FROST ST | DETACHED | 529,000 | 4 | 2.5 | 2627 | 17850 PILKINGTON RD | DETACHED | 585,000 | 3 | 2.5 | 3222 | 197 FURNACE ST S 3s | CONDO | 699,000 | 2 | 2.5 | 2091 | 18375 RIVER EDGE LN | DETACHED | 897,950 | 4 | 2.5 | 3404 | 1874 GLENMORRIE TER | DETACHED | 939,000 | 3 | 3 | 3858 | 19320 LORNA LN | DETACHED | 1,100,000 | 4 | 3.5 | 4192 |
Pending Sales (Nov 17-23, 2014)
| Address | Type | Price | Bedroom | Bathrooms | Sqft | DOM | 4619 LAKEVIEW BLVD D-3 | CONDO | 92,000 | 1 | 1 | 753 | 28 | 43 CRESTFIELD CT | CONDO | 107,500 | 2 | 1 | 923 | 27 | 98 OSWEGO SMT | CONDO | 129,900 | 2 | 2 | 1140 | 152 | 7140 SW CHILDS RD | DETACHED | 275,000 | 3 | 1 | 2032 | 149 | 16442 SW KIMBALL ST | DETACHED | 350,000 | 3 | 1 | 1200 | 45 | 17520 REDFERN AVE | DETACHED | 350,000 | 3 | 2 | 1776 | 11 |
| 16998 GREENTREE AVE | DETACHED | 393,500 | 4 | 2.5 | 2392 | 161 | ||||||||||||||||||||||||||||||||||||||||||
| 17225 CHAPIN WAY | DETACHED | 395,000 | 3 | 2 | 2257 | 119 | ||||||||||||||||||||||||||||||||||||||||||
| 1318 LAUREL ST | DETACHED | 439,900 | 3 | 2.5 | 1649 | 2 | ||||||||||||||||||||||||||||||||||||||||||
| 47 DA VINCI ST | DETACHED | 475,000 | 3 | 2.5 | 2445 | 112 | ||||||||||||||||||||||||||||||||||||||||||
| 17821 HILLSIDE WAY | DETACHED | 589,000 | 4 | 3.5 | 3442 | 44 | ||||||||||||||||||||||||||||||||||||||||||
| 571 2ND ST | CONDO | 589,500 | 2 | |||||||||||||||||||||||||||||||||||||||||||||
| 2 | 1561 | 18 | 531 LAUREL ST | DETACHED | 649,900 | 4 | 3.5 | 2771 | 212 | 15444 BOONES WAY | ATTACHED | 850,000 | 3 | 2.5 | 3464 | 4 |
Sold/Closed (Nov 17-23, 2014)
| Address | Type | List Price | Close Price | Sqft | DOM | 44 EAGLE CREST DR #15 | CONDO | 89,900 | 85,000 | 798 | 197 | 272 CERVANTES | CONDO | 139,900 | 127,000 | 1209 | 234 | 45 EAGLE CREST DR #409 | CONDO | 155,000 | 153,000 | 1214 | 4 | 18543 DON LEE WAY | DETACHED | 260,000 | 250,000 | 924 | 49 | 5326 W SUNSET DR | DETACHED | 259,900 | 259,900 | 754 | 3 | 16200 PACIFIC HWY #35 | CONDO | 299,000 | 275,000 | 1208 | 268 |
| 92 GREENRIDGE CT #92 | ATTACHED | 348,000 | 335,000 | 1980 | 14 | ||||||||||||||||||||||||||||||||||||
| 475 8TH ST | DETACHED | 375,000 | 365,000 | 960 | 0 | ||||||||||||||||||||||||||||||||||||
| 20 AQUINAS ST | DETACHED | 410,000 | 385,000 | 1814 | 33 | ||||||||||||||||||||||||||||||||||||
| 1530 LARCH ST | DETACHED | 469,000 | 439,875 | 2384 | 22 | ||||||||||||||||||||||||||||||||||||
| 886 9TH ST | DETACHED | 465,000 | 450,000 | 860 | 3 | ||||||||||||||||||||||||||||||||||||
| 132 MIDDLECREST RD | DETACHED | 495,000 | 495,000 | 1617 | 0 | ||||||||||||||||||||||||||||||||||||
| 4125 WOLF BERRY CT | DETACHED | 529,900 | 529,000 | 2824 | 1 | ||||||||||||||||||||||||||||||||||||
| 13639 TWIN CREEK LN | DETACHED | 675,000 | 650,000 | 3202 | 87 | ||||||||||||||||||||||||||||||||||||
| 2335 OSWEGO GLEN CT | DETACHED | 995,000 | 850,000 | 3932 | 167 | ||||||||||||||||||||||||||||||||||||
| 14122 GOODALL RD | DETACHED | 969,000 | 930,000 | 4530 | 331 | ||||||||||||||||||||||||||||||||||||
| 678 8 ST | DETACHED | 1,050,000 | 1,050,000 | 2900 | 1 | ||||||||||||||||||||||||||||||||||||
| 16650 FIR LN | DETACHED | 1,279,000 | 1,200,000 | 3860 | 57 | ||||||||||||||||||||||||||||||||||||
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.
Happy Thanksgiving!
Happy and Safe Thanksgiving
Today is a very wonderful holiday, not only for us as friends and family but also for homes and houses. Today we give thanks for all the many things that we are blessed with in our lives while we celebrate a patronage that has been on-going in our culture since as early as 1621.
Why is this important for our homes and houses? Because the very thought of Thanksgiving throughout the year attributes to our many reasons to wanting to be home owners. When we look at a house we see ourselves in that house as well as imagine our friends and family. Thanksgiving is a very good reason why we’d lean toward a more open kitchen or larger dinning room. Our homes express our lives and our lives are enriched with the people that we are gifted to be around, and a home that suits our experiences through the many holidays is an asset not only for our wealth in money but in happiness and fulfillment.
This Thanksgiving I would like to give thanks to all those homeowners out there who are right now hosting their family gatherings in their kitchens, livingrooms, dinning rooms, and entertainment rooms. Who have found the house of their dreams and spent the last week sprucing it up for their guests. Thank you hosts and homeowners!
2015 Economic Forecast
While 2014 may be winding down, 2015 is just around the corner. I tend to think of this time of year as a time to regroup. Business is slower. It gives me a chance to catch my breath, but also to gear up. January 1, I want to hit the ground running. With that in mind, I try to take advantage of First American Title’s annual economic forecast. This event happened this morning and I thought I share some of what I learned.
The expert who gives this presentation is John Mitchell, Chief Economist for M&H Economic Consultants. He does a great job of taking a dry subject that is filled with numbers and charts, and making it entertaining and engaging. I am going to share with you a few highlights.
For the most part the outlook is good. While economic growth has been slow, it has also been steady. For the past few years there have been fits and starts with the economy. Mr. Mitchell likened it to Bill Murray and Groundhog Day. We’ve seen it before and we will see it again. The economy is chugging along. It’s not explosive, but it is more steady than not.
Some positive news:
Consumers who have delayed major life decisions (getting married, having a child, buying a bigger house) are gaining confidence and starting to make those big moves. This is a stimulus for the housing market.
The US Economy is the envy of the world. Financial and personal security are threatened in many parts of the world (Asia and Europe continue to lag in economic recovery, then there are the world events in Russia and the Middle East). This has countries and individuals looking to put their assets where they feel they will be secure, and that place is the United States. Mr. Mitchell gave credit to this influx of foreign money for the unexpectedly low interest rates of 2014.
The housing market is rebounding with both existing family home and new construction selling at greater rates than they have in years.
Oregon was #6 in the Nation for job growth in 2014.
Nationally, mortgage delinquencies are the lowest they have been since 2000.
Some concerns:
We are entering a whole new world that has no historic precedent. The stimulus package is pretty much over. The Federal Reserve is no longer buying mortgage backed securities. The economy is going to have to hold up the anticipated growth on its own. Having said that, the Fed is prepared to jump back in and re-engage if needed. This shows how fragile this recovery is. There is a lot of uncertainty.
The world situation has a lot of areas of concern. Ebola and ISIS were not on our radar a year ago. A major event can derail our economy. These events are not just difficult to hear about because of their horror, they also have an impact on our economy through things like consumer confidence and political turmoil.
Slowly gathering strength
On the whole, our economy is slowly gathering strength. As the job market grows and people feel more financially stable, they start to make decisions to improve their lives. Buying a new home is a big part of that picture.
Mr. Mitchell did advise that interest rates are likely to go up in 2015, but it will be fact driven. If the economy is not rebounding, they will stay low. If the economic rebound gets stronger, they will go up. Odd to think that rising interest rates are triggered by good news, but they are.
My personal thought on all of this is that our government and the Fed need our housing market to continue to rebound. It is vital to our National economic health. I have confidence that the housing market will stay on track with slow and steady growth.
As always, thanks for reading The Blotter,
Dianne