Posts

Posted on

Open Houses 1/19/13

There are 18 open houses in Lake Oswego this Sunday. Enjoy!

Address Price Type Bedroom Bath Open
1531 Bonniebrae Dr $244,900 Attached 3 1.5 12 to 2
2719 Greentree Rd $449,950 Detached 5 3.5 1 to 4
4109 Wolf Berry Ct $519,000 Detached 4 2.5 1 to 4
5554 Royal Oaks Dr $525,000 Detached 3 2 1 to 3
55 Aquinas St $574,900 Detached 5 3 11 to 1
14 Del Prado St $583,000 Detached 3 3.5 1 to 3
421 Middlecrest Rd $629,900 Detached 3 2.5 1 to 3
3015 Royce Way $689,900 Detached 4 3.5 1 to 3
3826 Upper Dr $739,900 Detached 4 2.5 1 to 4
18112 Westminster Dr $750,000 Detached 5 4 2 to 4
18499 Old River Dr $819,000 Detached 4 3.5 11:30 to 1:30
4540 Lamont Way $874,950 Detached 5 2.5 1 to 3
13537 Fielding Rd $895,000 Detached 4 3.5 1 to 3
18325 River Edge Ln $899,995 Detached 3 3.5 1 to 3
2943 Lakeview Blvd $995,000 Detached 4 3 1 to 3
752 E Ave $998,500 Detached 3 3 1 to 3
17322 Cedar Rd $1,149,500 Detached 4 4.5 1 to 3
13310 Atwater Ln $1,249,900 Detached 5 4 2 to 4
Posted on

Important Changes in 2014

xstreetsignThe coming of the new year brings with it some changes that may affect you as you buy or sell a home. I am going to touch upon 2 of them.

The Dodd Frank Wall Street Reform and Consumer Protection Act

The intention of this legislation is to reign in predatory lending and safe guard our housing market from a collapse like we experienced in 2007. What it does is tighten up mortgage guidelines. This means verification of assets, having a strong credit score, and not making loans to people who can not realistically pay them back. The legislation went into affect on January 10, 2014, but lenders have been putting the guidelines into place for some time.

What this means to you is that you really do need to qualify for a mortgage. It also means that paperwork will be more extensive and processing your loan will take time.

I think it also means that it is more important than ever to get pre-approved BEFORE you make an offer on a house. Line up your financing in advance and you will have less stress while in escrow.

The Mortgage Debt Forgiveness Relief Act has Expired

In 2007, Congress passed this act to give tax relief to distressed home owners. Basically, the IRS considered any forgiveness of debt to be income upon which you were taxed. So if you sold your house with a shortsale (selling it for less than what you owed), did a deed in lieu of foreclosure, or restructured you debt, you could be required to pay taxes on any debt not repaid. The Mortgage Debt and Forgiveness Relief Act waived this taxation. This was a huge boon to helping distressed home owners. The act expired n 2012 but was extended for a year and now expired at the end of 2013.

Congress has not extended it. It is not looking promising that they will either.

This means that if you are facing the option of doing a shortsale, a loan modification, or a deed in lieu, you need to talk to a good tax accountant first. Do not get involved in any of these scenarios without good tax counsel. I also want to recommend good legal counsel.

Speaking of legal counsel, I was inspired to write this post after reading Kate Brooke’s newsletter. Kate is a local attorney with extensive real estate experience. To contact her, click here.

I hope you find this information useful.
Dianne

Posted on

Market Activity ~ Jan 6-12, 2014

During our first full week of logged activity in Lake Oswego, 8 New properties entered the market, 9 moved to Pending status, and 3  “Closed”/Sold.

Here is the breakdown according to RMLS:

NEW on MKT (Jan 6-12, 2014)

Address List Price # Beds # Baths Total SF Prop Type
4 TOUCHSTONE #123 $139,900 3 2.1 1351 CONDO
5063 FOOTHILLS DR #14 $184,900 2 2 1050 CONDO
6 PHEASANT RUN $339,900 3 2.1 1734 DETACHD
4690 LOWER DR $339,900 3 2.1 1596 DETACHD
4360 WESTBAY RD $520,000 4 3 2636 DETACHD
4401 ALBERT CIR $529,950 4 2.1 2620 DETACHD
17322 CEDAR RD $1,149,500 4 4.1 3370 DETACHD
2493 SOUTHSHORE BLVD $3,495,000 5 4.1 7112 DETACHD

PENDING SALES (Jan 6-12, 2014)

Address List Price # Beds # Baths Total SF Prop Type CDOM
88 OSWEGO SMT $99,999 1 1 764 CONDO 56
50 CERVANTES CIR #3-B $109,900 2 1.1 912 CONDO 10
16 CERVANTES CIR #6E $149,900 2 1.1 912 CONDO 43
13080 THOMA RD $395,000 3 2 2810 DETACHD 200
5616 GRAND OAKS DR $550,000 4 3 3096 DETACHD 54
2481 MARYLSHIRE LN $675,000 5 3.1 4154 DETACHD 175
17390 GRANDVIEW CT $989,999 4 4.2 4516 DETACHD 204
17375 RIDGEVIEW CT $998,500 4 3.1 4065 DETACHD 147
4601 UPPER DR $1,059,000 4 3.2 3943 DETACHD 2

SOLD (Jan 6-12, 2014)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
3808 BOTTICELLI ST $189,900 $182,000 3 2 1288 CONDO 71
3595 TEMPEST DR $424,900 $389,900 3 2 2126 DETACHD 53
4018 COHO LN $959,000 $900,000 4 4.1 5128 DETACHD 111

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

Posted on

Tips & Tidbits

  • “On average, home owners have a median worth of nearly $200,000 while renters are essentially living paycheck to paycheck, with only $4,000 net worth on average. And renters as a share of households are growing their ranks having risen by 6 million from a decade ago.”  Lawrence Yun, Chief Economist of the National Association of Realtors (NAR)
  • “ Adults under 35 living at home = 30.3%.  Under 35 Ownership Rate = 36.7%”       NAR Research, December 2013
  •  Have you overspent during the holidays? If so, you’re not alone! I have a few tips for catching up, and getting those credit cards back in line….  And, if you implement these ideas, it’ll go a long way to keeping your credit score squeaky clean, and help you build funds for the home you’ve been wanting to buy!

Here are 5 Steps (I borrowed these ideas from KeyBank ; ) to help get you back on track:

“Balance your budget“. If you’re saying “duh”, then think about trimming some expenses using these tips:

1)  “Pack Your Own”. Yup. Bring your coffee from home instead of stopping for a latte. Bring your own lunch for awhile. You’ll be surprised at how much you’ll save!

2 “Cut What You Won’t Miss”. Trim things like the little extras in your cable package, work out at home instead of at the gym or at your local community center, scale back your mobile service if you rarely max out your minutes, cancel subscriptions and get your favorite magazine copies at the library instead.

3) “Embrace Used”. When shopping for things that depreciate quickly, like cars, try re-sale!  Even for things like clothing, exercise equipment, and even electronics, (I just bought a brand new elyptical machine on Craigslist for $100.!!!) it can be the best way to go.

4) “Find Free Entertainment”.  Besides books & magazines, libraries also offer movies that you can check out, as well as books, video games & newspapers. Most libraries also offer Internet acccess on their computers for your use. Local high schools, colleges, art centers, and community centers offer low-cost or free concerts & plays.

5) “Clip Coupons and Dig for Discounts”.  Let’s face it. The Recession made coupons cool! Look for deals at your favorite restaurants, your grocery store, drug store… the deals are there… use them!

 

 

Posted on

Market Activity Dec 23, 2013 to Jan 5, 2014

This Market Activity Report covers a 2-week period. Things are just slower during the full blown holidays, although listings, pending sales, and closed sales continued to chug along. There were 6 new listings, 21 houses that went pending with accepted offers, and 13 closed sales. I noticed how many condos are selling. Nice!

Here is the breakdown of activity according to RMLS:

New Listings (Dec 23, 2013 to Jan 5, 2014)

Address Type Price BR Bths SF
12892 Boones Ferry Rd Condo $279,000 2 2.5 1136
432 5th St Attached $310,000 2 1.5 1102
4720 Lakeview Blvd Detached $649,000 4 3.5 2939
4601 Upper Dr Detached $1,059,000 4 3.5+.5 3943
13888 Goodall Rd Detached $1,399,995 4 3.5 4435
17860 Crestline Dr Detached $1,795,000 4 5.5 7192

PENDING SALES (Dec 23, 2013 to Jan 5, 2014)

Address Type Price BR Baths SF DOM
4000 Carman Dr #103 Condo $125 1 1 818 13
3696 Spring Ln 3B Condo $129,900 2 2 1117 53
4000 Carman Dr #106 Condo $139,100 2 2 993 12
4000 Carman Dr #55 Condo $149,999 2 2 866 10
3808 Botticelli Condo $189,900 3 2 1288 71
13 Mountain Circle Attached $217,000 2 1.5 1374 394
1120 Boca Ratan Dr Attached $260,000 3 2 1611 8
16775 Lake Forest Blvd Detached $282,000 3 2 1544 61
16056 Reese Rd Detached $319,000 3 2 1667 14
18011 Tualata Ave Detached $330,000 3 2 1482 4
24 Becket St Detached $425,000 4 2.5 2527 288
1730 Yarmouth Circle Detached $429,000 2 2 1775 123
1571 Woodland Terr Detached $474,500 3 2 2400 80
5602 Southwood Dr Detached $498,900 4 2.5 2636 103
13036 Sierra Ct Detached $499,900 3 2 2214 80
14136 Heathrow Ln Detached $549,000 4 2.5 2955 624
13080 Thoma Rd Detached $875,000 3 2 2810 194
4153 Westbay Rd Detached $1,349,000 4 3.5 3374 193
800 Terrace Dr Detached $1,349,900 5 4.5 5166 98
13636 Goodall Rd Lt2 Detached $1,399,000 4 4.5 4380 329
937 Atwater Detached $1,500,000-$1,850,000 4 4.5 4500 30

SOLD (Dec 23, 2013 to Jan 5, 2014)

Address Type List Price Closed Price Sq Ft CDOM
15938 Quarry Rd B-4 Condo $145,000 $140,000 991 184
4418 Thunder Vista Ln Condo $239,000 $220,000 2200 83
18600 Indian Creek Dr Detached $279,900 $285,000 1607 34
6025 Kenny St Detached $314,900 $309,900 1,254 99
250 Furnace St Detached $389,000 $360,000 899 68
1602 Greentree Rd Detached $412,500 $383,500 1708 93
1125 C Ave Detached $575,000 $425,000 2558 127
716 Lakeshore Rd Detached $750,000 $580,000 1878 101
621 Country Club Rd Detached $674,900 $613,000 3300 59
14120 Redwood Ct Detached $624,900 $617,000 2755 257
13562 Peters Rd Detached $875,000 $815,000 3106 123
215 Chandler Rd Detached $875,000 $820,000 3118 197
14530 Uplands Dr Detached $969,000 $881,000 4080 409

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

Posted on

Merry Christmas and Happy Holidays!

imagesLinda and I want to wish you the very best of the season. We will be taking a break from the propertyblotter until January 6th. During this time we hope you will join us in treasuring these special times of love, family, faith, and friendship. To all of you, from both of us, Merry Christmas and Happy Holidays!

Dianne and Linda

Posted on

Market Activity ~ Dec. 16-22, 2013

Last week in Lake Oswego, 9 New properties entered the market, 13 moved to Pending status, and 10  “Closed”/Sold.

Here is the breakdown of activity according to RMLS:

NEW on MKT (Dec 16-22, 2013)

Address List Price # Beds # Baths Total SF Prop Type
4000 CARMAN DR #103 $125,000 1 1 818 CONDO
4000 CARMAN DR #106 $139,100 2 2 993 CONDO
4000 CARMAN DR #55 $149,999 2 2 866 CONDO
200 RIDGEWAY RD $175,000 2 1 988 CONDO
1120 BOCA RATAN DR $260,000 3 2 1611 ATTACHD
16056 REESE RD $319,000 3 2 1667 DETACHD
1491 KOAWOOD DR $489,900 4 3 2510 DETACHD
1110 HALLINAN CIR $575,000 4 3.1 3824 DETACHD
5184 WOODCREST LN Lot 1 $599,900 4 2.1 2935 DETACHD

PENDING SALES (Dec 16-22, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
3696 SPRING LN #3B $129,900 2 2 1117 CONDO 42
5523 ROYAL OAKS DR $200,000 2 3 1817 DETACHD 501
18 WHEATHERSTONE $295,900 3 2.1 1692 CONDO 138
250 FURNACE ST $389,000 2 1 899 DETACHD 68
16038 REESE RD $439,000 3 3 3154 DETACHD 2
17940 MEADOWLARK LN $459,000 5 3 2508 DETACHD 143
3435 Lake Grove AVE $595,000 4 3 2618 DETACHD 76
18064 JENIFERS WAY $639,950 5 3 2965 DETACHD
14144 KIMBERLY CIR $649,900 5 3.1 3824 DETACHD 7
13374 HIDDEN BAY CT $699,000 4 2.1 3520 DETACHD 98
72 NANSEN SUMMIT $1,100,000 4 3 4770 DETACHD 256
17323 BERGIS FARM DR $1,280,000 4 3.2 4297 DETACHD 194
112 NORTHSHORE CIR $1,500,000 4 3.1 3632 DETACHD 331

SOLD (Dec 16-22, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
86 KINGSGATE RD C204 $100,000 $103,100 2 2 938 CONDO 10
100 KERR PKWY #59 $112,000 $105,000 2 1.1 823 CONDO 5
3433 MCNARY PKWY #405 $156,900 $141,000 2 2.1 1208 CONDO 113
16250 PACIFIC HWY #64 $249,000 $240,000 2 2 1305 CONDO 69
3285 SW CHILDS RD $375,000 $285,000 4 3 2780 DETACHD 76
17736 CARDINAL CT $330,000 $355,000 4 2.1 2280 DETACHD 6
464 LIVINGOOD LN $450,000 $400,000 4 2.1 2584 DETACHD 129
208 NORTHSHORE RD $649,950 $620,000 5 3 2926 DETACHD 113
144 LEONARD ST $749,900 $665,000 4 3.1 3552 DETACHD 136
448 COUNTRY CLUB RD $1,299,000 $1,200,000 4 3.1 4873 DETACHD 328

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

Posted on

News & Notes

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:

So far this year the overall Portland area has seen 25,667 Accepted Offers, and 24,872 Closed Sales which is up 12.9% from 22,726 Accepted Offers (Pendings) and 15.4% from 21,546 Closed Sales in the same period last year. Though Closed Sales decreased from October 2013 by 16.8%, November had the most Closed Sales since 2006!

According to the RMLS Market Action Report for the Portland Metro Area  November, 2013:

  • At 1,821, November Closed Sales increased by 88 over November 2012, but are down from this October’s 2,189.
  • There were 1,976 New Listings in November. This was a decrease of 14% from this October, and an increase of 5.6% over November of 2012.
  • The Average Sale Price in November was $318,100, up $4,000 from $314,100 in October 2013.
  • November Pending Sales (accepted offers) dropped by 14% compard to this October, and  increased by 5.6% as compared to November 2012.

The combined areas of Lake Oswego and West Linn  for October reported:

    • 441 Active Listings
    • 103 New Listings
    • 83 Pending Sales
    • 97 Closed Sales
    • An average Sale Price of $498,200.
    • Average Time on the Market: 79 Days
Posted on

Market Activity Dec 9-15, 2013

Real estate is a year around event, and last week in Lake Oswego showed that to be true. There were 6 new listings, 11 pending sales, and 12 closed sales.

Here is the breakdown of activity according to RMLS:

New Listings Dec 9-15, 2013

Address Type Price BR Bths SF
444 5th St Attached $330,000 2 2 1092
5687 Bonita Rd Detached $339,000 3 2.5 2048
5057 W Sunset Attached $349,900 2 2.5 1720
3020 Brookside Rd Detached $499,000 4 2 1926
14144 Goodall Rd Detached $849,000 4 3 3499
17547 Cherry Ct Detached $1,225,000 4 3.5 3700

PENDING SALES (Dec 9-15, 2013)

Address Type Price BR Baths SF DOM
100 Kerr Pkwy #13 Condo $85,900 1 1 617 89
100 Kerr Pkwy #10 Condo $115,000 2 1.5 823 5
1561 Bonniebrae Dr Condo $249,900 3 2 1393 30
4912 Lower Dr Detached $339,000 3 2 1539 4
3595 Tempest Dr Detached $389,900 3 2 2126 53
920 York Rd Detached $415,000 4 2.5 1836 23
13060 Elk Rock Rd Detached $474,900 4 3 3581 88
12 Buckingham Terr Detached $529,000 5 3.5 3642 128
14353 Trillium Ct Detached $625,000 4 2.5 3057 9
18108 Pilkington Rd Detached $799,950 3 3.5 4129 123
2070 Wembley Park Rd Detached $800,000 5 4.5 4935 436

SOLD (Dec 9-15, 2013)

Address Type List Price Closed Price Sq Ft CDOM
100 Kerr Pkwy #56 Condo $104,900 $108,000 823 4
4000 Carmen #88 Condo $117,000 $119,000 836 24
4 Touchstone #62 Condo $159,500 $144,000 1351 46
1261 Boca Ratan Dr Attached $270,000 $267,500 1,611 26
4990 Oakridge Rd Detached $329,000 $300,000 1700 80
2440 Greentree Rd Detached $349,900 $349,900 1850 28
340 4th St Attached $399,900 $399,900 1731 2
15677 Fieldstone Dr Detached $546,500 $544,000 2527 69
4763 Hastings Pl Detached $549,000 $560,000 2442 4
735 7th St Detached $969,000 $908,000 2945 125
18187 Siena Dr Detached $978,950 $920,000 3745 508
13050 Knaus Rd Detached $1,395,000 $1,300,000 4821 9

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

Posted on

Open Houses 12/15/13

Lake Oswego has 13 open houses scheduled for this Sunday. Enjoy!

Address Price Type Bedroom Bath Open
12894 Boones Ferry Rd $299,000 Attached 2 2.5 1 to 3
67 Tanglewood Dr $434,900 Detached 4 2.5 1 to 4
3065 Royce Way $475,000 Detached 4 2.5 1:30 to 3:30
751 Briercliff Ln $508,500 Detached 4 3 12 to 3
18020 Jenifers Way $609,881 Detached 4 2.5 1 to 4
19524 River Run Dr $618,950 Detached 4 2.5 1 to 3
2814 Vale Ct $629,000 Detached 4 3 12 to 2:30
13374 Hidden Bay Ct $699,000 Detached 4 2.5 1 to 3
4540 Lamont Way $899,950 Detached 5 2.1 1 to 3
19463 Lorna Ln $900,000 Detached 4 3.5 1 to 3
2801 Lakeview Blvd $925,000 Detached 3 3.5+.5 1 to 3
13310 Atwater Ln $1,249,900 Detached 5 4 2 to 4
112 Northshore Circle $1,500,000 Detached 4 3.5 1 to 5