Lake Oswego Real Estate Blog
I salute the brave Realtor who is hosting the only open house promoted for Lake Oswego on the RMLS this weekend:
41 Hillshire Dr, a detached home with 2670 square feet. Built in 1983, it has 4 bedrooms and 3 baths. it will be open this Sunday, December 21st, from 1:30 to 3:30.
Have a lovely weekend. Stay safe and enjoy the snow.
While having lunch with friends recently one woman was telling us about the difficulty she had with some of her co-workers. I guess there was a good deal of gossiping and even some back stabbing that went on behind people’s backs. My initial reaction to her story was dismay over her situation and then personal gratitude that I don’t work in such circumstances. And then it occurred to me why I don’t have that sort of work environment. It’s the code of ethics! As a Realtor, I must adhere to a code of ethics that requires fair dealings with other Realtors. I simply am not allowed to say bad things about them. It then occurred to me that the general public probably doesn’t know about the Realtor Code of Ethics. At this time of year, when our thoughts are turned to family, friends, and religious celebrations, it seems appropriate to tell you about the Code of Ethics.
In order to be a Realtor in the State of Oregon you must agree to adhere to the Code of Ethics. Both the Oregon Association of Realtors and the National Association of Realtors require abiding by the Code of Ethics. It is possible to be a real estate agent without being a Realtor, but it is not possible to be a Realtor without meeting the requirements of the Code of Ethics. A Realtor is required to take training on the Code of Ethics every 4 years to make certain that he or she remembers and is familiar with this code. What is it? In a nutshell, it pretty much boils down to the golden rule. Be fair and honest in all of your dealings with clients and with other Realtors, just as you want them to be fair and honest in their dealings with you.
The Code of Ethics is actually a rather beautiful document. The Preamble begins “Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization.” It is well written, well thought out, and something that can be applied to life as a whole. Besides the Preamble, there are 3 sections: Duties to Clients and Customers, Duties to the Public, and Duties to Realtors. Each section contains guidelines for fair and honest business practices, honesty in advertising, as well as professionalism and protection when dealing with the public. This code serves as a promise to the public that when dealing with a real estate agent that is a Realtor you can expect honest and ethical treatment in all of your dealings. How cool is that? Don’t you wish every profession had a Code of Ethics? I do.
Not all real estate agents are Realtors. So when choosing a professional to help you to buy or to sell a home, be certain to find out if they are a Realtor. If they have the Realtor designation, you can gain assurance that your transaction will be handled by someone who adheres to the Realtor Code of Ethics.
If you’d like to read the Code of Ethics, here is a link to the Portland Metropolitan Association of Realtors where a copy is available: click here.
It appears that even in the depth of winter, real estate is alive in Lake Oswego.
There were a total of 18 “new” listings showing in RMLS, however, I am including only the 12 that are either brand new, or have been off the market for at least 4 – 6 weeks.
There are several great homes in this line-up. I especially enjoyed walking through the “Rummer” on Park Forest Ave… really cute!
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (December 8 – 14, 2008)
| ADDRESS |
LIST
PRICE
|
TOT.
BEDS
|
TOT.
BATHS
|
TOT.
SQ FT
|
PROP
TYPE |
LIST
DATE
|
| 5094 GALEN ST $299,999 3 2 1438 DETACHD 12/14 |
| 95 KINGSGATE RD $325,000 3 2.1 1669 DETACHD 12/14 |
| 16149 PEARCY ST $355,000 3 2 1250 DETACHD 12/9 |
| 10 PREAKNESS CT $399,950 4 2.1 2270 ATTACHD 12/11 |
| 1971 PK FOREST AVE $549,000 4 2 2180 DETACHD 12/8 |
| 181 3RD ST $739,000 2 2 1523 CONDO 12/9 |
| 1607 PINE ST $759,000 4 2.1 2943 DETACHD 12/11 |
| 220 GREENWOOD RD $849,000 3 4 2639 DETACHD 12/12 |
| 17884 SW KELOK RD $959,000 4 3.1 4126 DETACHD 12/8 |
| 17896 SW KELOK RD $995,000 4 5 3623 DETACHD 12/8 |
| 45 NANSEN SMT $1,500,000 4 4.1 5773 DETACHD 12/10 |
| 1020 SKYLAND DR $2,850,000 5 4.2 6653 DETACHD 12/8 |
PENDING SALES (December 8 – 14, 2008)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| 1120 HALLINAN CIR $339,000 3 2 1600 DETACHD 153 |
| 5254 TIMBERGROVE ST $374,500 4 2 1854 DETACHD 87 |
| 2958 DELLWOOD DR $549,900 4 3 3272 DETACHD 165 |
| 5960 CLAIRMONT CT $724,900 4 2.1 3000 DETACHD 129 |
| 14527 PFEIFER WAY $749,000 4 3.1 3788 DETACHD 120 |
| 1600 Country Commons LN $1,950,000 4 3.1 5389 DETACHD 224 |
SOLD (December 8 – 14, 2008)
| ADDRESS | ORIG.
PRICE |
SALE
PRICE |
TOT.
BEDS
|
TOT.
BATHS
|
TOT.
SQ FT
|
PROP
TYPE |
DOM
|
| 668 McVey AVE $199,500 | $108,000 0 1 485 CONDO 740 |
| 5453 Willow Ct $495,000 | $426,500 3 2.1 2400 ATTCHD 146 |
| 600 MAPLE ST $529,000 | $470,000 4 2.1 2422 DETACHD 126 |
| 435 8TH ST $749,900 | $649,900 4 3.1 2505 DETACHD 565 |
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.
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.
For the brave souls out there who are happy to venture forth in this weekend’s winter weather, there are several open houses for your holiday enjoyment.
On Saturday the 13th there is one open house:
3844 Botticelli, a townhouse with 1129 square feet, 2 bedrooms and 1 1/2 baths, priced at $237,500. It will be open from 1-3pm.
On Sunday the 14th, there are 6 open houses:
1265 Rockinghorse Lane, a home with 2402 square feet, 4 bedrooms and 3 baths, priced at $444,000. It will be open from 2-4pm.
3030 Westview Ct, a home with 3415 square feet, 4 bedrooms and 2 1/2 baths, priced at $959,000. It will be open from 12:30-2pm.
943 Atwater Rd, a home with 3874 square feet, 4 bedrooms and 2 1/2 baths, priced at $1,225,000. It will be open from 12-2pm.
17512 Greenblulff Lot 1, a home with 3777 square feet, 4 bedrooms and 4 baths, priced at $1,425,000. It will be open from 1-4pm.
16359 Chapin Way, a home with 4158 square feet, 4 bedrooms and 3 1/2 baths, priced at $1,439,000. It will be open from 1-4pm.
17554 Greenbluff Lot 2, a home with 5042 square feet, 4 bedrooms, 4 full baths and 2 half baths, priced at $1,850,000. It will be open from 1-4pm.
With rain and the chance of snow in this weekend’s forecast, we will hold positive thoughts of clear streets and safe driving for anyone who ventures out. For the rest of us, it’s time for hot chocolate in front of a blazing fire. Enjoy.
Once again, thank you for your patience with our posting of the weekly activity report. We are still tweaking the set up for this posting. We know that there are quite a few people who look forward to seeing this and value your on-going patronage of the propertyblotter.
| Address | List Price | # Bedrooms | Total Baths | Total SF | Prop Type | List Date |
| 668 MCVEY AVE | $144,000 | 1 | 1 | 627 | CONDO | 12/4/2008 |
| 3433 MCNARY PKWY | $249,900 | 2 | 2.1 | 1,136 | CONDO | 12/4/2008 |
| 14431 SHERBROOK PL | $349,950 | 4 | 3 | 2,605 | DETACHD | 12/2/2008 |
| 221 HIDALGO ST | $399,000 | 3 | 2.1 | 2,628 | DETACHD | 12/3/2008 |
| 29 BECKET ST | $399,950 | 3 | 2.1 | 2,288 | DETACHD | 12/4/2008 |
| 562 2ND ST | $419,000 | 2 | 2.1 | 1,406 | CONDO | 12/7/2008 |
| 16913 Canal CIR | $449,000 | 3 | 1.1 | 2,525 | DETACHD | 12/1/2008 |
| 1830 CLOVERLEAF RD | $470,000 | 3 | 2 | 1,795 | DETACHD | 12/5/2008 |
| 101 3RD ST | $474,900 | 3 | 2 | 1,447 | CONDO | 12/6/2008 |
| 11 BECKET ST | $550,000 | 4 | 2.1 | 4,030 | DETACHD | 12/4/2008 |
| 7 CONDOLEA DR | $599,900 | 3 | 3 | 2,388 | CONDO | 12/1/2008 |
| 13254 Twin Creek CT | $689,000 | 4 | 2.1 | 3,470 | DETACHD | 12/1/2008 |
| 524 WEIDMAN CT | $739,000 | 4 | 2.1 | 3,450 | DETACHD | 12/5/2008 |
| 426 7TH ST | $778,950 | 4 | 2.1 | 2,902 | DETACHD | 12/5/2008 |
| 705 10TH ST | $1,686,000 | 4 | 3.1 | 4,818 | DETACHD | 12/3/2008 |
| 13795 CAMEO CT | $2,395,000 | 4 | 5.2 | 7,190 | DETACHD | 12/1/2008 |
| 13777 CAMEO CT | $2,595,000 | 4 | 5.1 | 8,080 | DETACHD | 12/1/2008 |
PENDING SALES (November 30 —December 7, 2008)
| ADDRESS | LIST PRICE | # BEDS | # BATHS | TOT. SQ FT | PROP TYPE | DOM |
| 16250 PACIFIC HWY | $228,850 | 2 | 2 | 1,324 | CONDO | 433 |
| 4211 WOODSIDE CIR | $325,000 | 3 | 2 | 1,688 | CONDO | 439 |
| 1685 CLOVERLEAF RD | $349,900 | 3 | 2.1 | 1,722 | DETACHD | 50 |
| 7050 CHILDS RD | $398,000 | 2 | 2 | 1,693 | DETACHD | 552 |
| 5051 TUALATA LN | $409,900 | 4 | 2 | 1,591 | DETACHD | 114 |
| 16750 PHANTOM BLUFF CT | $485,000 | 3 | 3 | 2,267 | DETACHD | 288 |
| 13217 FOX RUN | $550,000 | 4 | 3 | 2,706 | DETACHD | 160 |
| 1141 TROON RD | $648,850 | 4 | 3 | 2,522 | DETACHD | 155 |
| 13581 GOODALL RD | $650,000 | 3 | 2 | 1,220 | DETACHD | 455 |
| 3723 ELEANOR CT | $724,950 | 4 | 2.1 | 2,736 | DETACHD | 145 |
SOLD (November 30—December 7, 2008)
| Address | O/Price | Close Price | # BR | # Baths | Total SF | CDOM |
| 68 WHEATHERSTONE CT | $399,000 | $312,500 | 4 | 3.1 | 2,465 | 299 |
| 1130 LAUREL ST | $524,000 | $420,000 | 4 | 2 | 2,800 | 86 |
| 4076 COLTSFOOT LN | $680,000 | $555,000 | 4 | 3.1 | 3,882 | 126 |
| 5384 Washington CT | $769,900 | $670,000 | 4 | 3.1 | 3,246 | 415 |
| 4378 ALBERT CIR | $1,225,000 | $805,000 | 3 | 3 | 3,735 | 263 |
| 104 3RD ST | $1,050,000 | $975,000 | 2 | 2 | 1,151 | 15 |
| 301 IRON MOUNTAIN BLVD | $1,329,000 | $1,150,000 | 4 | 3.2 | 3,004 | 136 |
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.
Here’s a handy resource to help you orient yourself with the myriad of Lake Oswego neighborhoods. Just open the link below & click the colored segments revealing the neighborhood names:
View Larger Map
I am frequently asked if the winter, and specifically the holidays, are a good time to be selling or buying a home. My answer is yes. There are several advantages to selling or buying at this time of year.
First, a home that is warm and decorated for the holidays is extremely inviting. There is such a contrast from being outside and coming in. It really makes the home embrace the buyer. However, this means that you need to make that extra effort to create this experience. Keep the house heated properly. Homes where the heat is turned down, or even left off if the house is vacant, can actually be colder inside than out. When this happens both the buyer and the Realtor will be in a hurry to leave and get warmed up back in the car. Also, turn on every light in the house and open every curtain or blind. Buyers want a house that has lots of light. Because so many of our days are gray, it is important that you create the best light possible. I have recently shown several homes to clients that were great values and in great condition, but ruled out because they gave the impression of being too dark.
Be on top of the holiday decorations. They can enhance the look of the house, but don’t over do it and allow the house to look cluttered or small because it is filled with too much stuff. Also, take them down in a timely fashion.
There are several advantages to the quality of buyers who are out looking at this time of year. While there are fewer of them, those who are looking are serious. People are busy at the holidays so a person who is taking the time to look at houses is a person who really needs to move. In addition, many corporations have fiscal years that match the calendar year. This means that they are trying to move their transferring executives before December 31st. This is a great time of year to be marketing executive quality homes. (I’d would characterize those as being homes priced at $400,000 or greater).
What about buying at this time of year? I think there are four pretty strong advantages. 1) Interest rates are historically at their lowest in the winter. As the market picks up in the spring, interest rates trend up. 2) There aren’t many buyers looking so sellers will really jump through hoops for you. You may be the only game in town and they will work very hard to sell you their home. 3) If a house looks good in the winter, it is going to be spectacular in the summer. You can really get an idea of the actual house in terms of the light it has and the condition of the property. And 4) this is the time of year when a home inspector can most easily find water issues. If the basement leaks, you’ll more likely learn about it in the winter.
It is completely understandable if you feel like you want to get the holidays behind you before selling or buying a home. But if you do need to move, you have quite a few strong reasons why this time of year can work to your advantage.
What a gorgeous day today! I guess I need to check the weather for Sunday, but it could be a great day to look at Lake Oswego properties. Here’s what will be open according to RMLS:
18959 Kristi Way, $384,400, 3 Bd, 2 Ba, Open 1-3:30
14371 Holly Springs Rd, $427,500, 4 Bd, 2.5 Ba, Open 2-4
668 4th St, $439,900, 2 Bd, 2 Ba, Open 2-4
5807 Ridgetop Ct, $549,900, 5 Bd, 2.5 Ba, Open 1-4
624 Livingood Ln, $574,900, 4 Bd, 3 Ba, Open 1-3
605 SW Country Club Rd, $595,000, 5 Bd, 2.5 Ba, Open 11-1
4676 Winthrop Ct, $599,900, 4 Bd, 2.5 Ba, Open 2-4
17706 Marylbrook Dr, $699,900, 3 Bd, 2 & 2 1/2 Ba, Open 1:30-4
943 SW Atwater Rd, $1,225,000, 4 Bd, 2.5 Ba, Open 12-2
16359 Chapin Way, $1,439,000, 4 Bd, 3.5 Ba, Open 1-4
24015 SW Newland Rd, $1.695,000, 4 Bd, 4 Ba, Open 1-4
What a market. Some of what CNN reports applies here locally and some does not, but no matter how you look at it, this is the time to buy if you’re so inclined. I am told by mortgage and financial planning experts that rates are not likely to go down, but only up (generally speaking) from here on out.
A professional I trust, Pat Goodell, with Prospect Mortgage, says:
“Aggressive measures to keep mortgage financing available for potential homeowners have been established now. This will help to stabilize housing prices and continue to make home ownership an affordable reality. HUD has created new programs to complement existing FHA options, and interest rates remain at very comfortable levels, fluctuating right now around 6% for 30-year fixed loans.
Appraisers in the Portland area are reporting values have leveled off – they are no longer seeing the significant drops in value we have seen in the last year.
Though there are still challenges in the economy and housing market, there are very clear steps being established to ensure that the consumer is able to purchase a home at affordable rates, while providing that the loan does not put them at risk in the future. The Four C’s of mortgage lending are important- Credit, Cash, Collateral (property), and Capacity (ability to make the payment), but there are still great programs available to allow the responsible person to get into a home with as little as 3% down, and even 0 down under the right circumstances.”
We here at the Blotter recommend that you talk to your real estate broker about the market, and assess your options if you have been thinking about buying but have been waiting for the “right moment”. We also welcome a call or an email to us too if you’re not working with anyone & want to talk about what buying would look like for you at this amazing time in real estate history.
Stay informed. Decide what is best for you. Knowledge + Discernment is the winning formula.
…….What a ride!
Market activity typically slows down during the holidays and last weeks stats certainly reflect this. Having said this, it is good to see that the market does have some activity. 7 new listings, 4 pendings and 4 closed sales happened last week. While the market is slower, it is still very much happening.
NEWLY LISTED (November 24 —November 30, 2008)
| ADDRESS |
LIST PRICE
|
# BEDS
|
# BATHS
|
TOT. SQ FT
|
PROP TYPE |
LIST DATE
|
| 3433 MCNARY PKWY |
$214,900
|
2
|
2
|
1,008
|
CONDO |
11/27/08
|
| 3834 BOTTICELLI ST |
$224,900
|
2
|
2
|
1,055
|
ATTACHD |
11/24/08
|
| 600 TIPPECANOE CT |
$439,800
|
3
|
2
|
1,812
|
DETACHD |
11/24/08
|
| 1189 SUNNINGDALE CT |
$724,000
|
3
|
2
|
2,056
|
DETACHD |
11/26/08
|
| 51 HILLSHIRE DR |
$849,900
|
3
|
2.2
|
4,306
|
DETACHD |
11/25/08
|
| 1667 VILLAGE PARK LN |
$899,900
|
6
|
3.1
|
4,743
|
DETACHD |
11/24/08
|
| 1055 COUNTRY CLUB RD |
$1,000,000
|
3
|
2
|
2,804
|
DETACHD |
11/24/08
|
PENDING SALES (November 24 —November 30, 2008)
| ADDRESS |
LIST PRICE
|
# BEDS
|
# BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| 668 McVey AVE |
$144,850
|
0
|
1
|
485
|
CONDO |
740
|
| 455 10TH ST |
$473,950
|
2
|
2
|
2,284
|
DETACHD |
180
|
| 17561 SHEPHERDS CT |
$675,000
|
4
|
2.1
|
3,011
|
DETACHD |
287
|
| 13010 KNAUS RD |
$1,249,500
|
4
|
3.1
|
4,312
|
DETACHD |
737
|
SOLD (November 17—November 23, 2008)
| ADDRESS | ORIG. PRICE | SALE PRICE |
# BEDS
|
# BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| 4644 LOWER DR |
$136,900
|
$129,000
|
2
|
1.1
|
1,170
|
CONDO |
30
|
| 4000 CARMAN DR |
$149,900
|
$135,000
|
2
|
2
|
869
|
CONDO |
22
|
| 2435 PARK RD |
$749,990
|
$480,000
|
4
|
3
|
2,940
|
DETACHD |
302
|
| 16 NORTHVIEW CT |
$599,900
|
$495,000
|
4
|
3.1
|
2,962
|
ATTACHD |
419
|
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.