Tag: affordable homes in Lake Oswego

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Market Activity Report ~ May 3-9, 2010

There were 28 New properties entering the market, 10 going to Pending status, and 11 Sold during last week’s Monday – Sunday period according to RMLS.

I notice a lot of nice condos & townhomes hitting the market- The one at Oswego Summit has been off the market for awhile & just came back on with a $25,000 drop in price… it’s a beautiful property. Also, of note: I included Greenwood because it just took a $200,000. drop in price. This is a short sale, and is a really unusual place… an old church I believe… nealy 4000 SF with all sorts of potential and lake views for $650,000. Glenmorrie is a bank-owned property on the Willamette River. Sitting on a .89 acre lot, the house needs some fixing but hey, it’s $519,750. It already has multiple offers as I understand it.

Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (May 3—9, 2010)

Address List Price Prop Type # Beds # Baths Total SF List Date
4 TOUCHSTONE $129,000 CONDO 2 2 984 5/5/2010
85 OSWEGO SMT $200,000 CONDO 2 2 1212 5/5/2010
16250 PACIFIC HWY $229,900 CONDO 2 2 1305 5/3/2010
4610 LAMONT WAY $247,500 DETACHD 3 2 1750 5/9/2010
3485 DEVONSHIRE DR $264,900 ATTACHD 3 2.1 1556 5/8/2010
666 3RD ST $299,900 DETACHD 3 1.1 1759 5/7/2010
6301 ALYSSA TER $314,900 ATTACHD 3 2.1 1546 5/4/2010
6317 ALYSSA TER $329,000 ATTACHD 3 2.1 1546 5/3/2010
466 5TH ST $349,900 ATTACHD 2 1.2 1092 5/7/2010
4313 ALBERT CIR $367,900 DETACHD 3 2 1790 5/6/2010
5160 TUALATA LN $369,900 DETACHD 3 2 1470 5/3/2010
5275 ROSEWOOD ST $379,000 DETACHD 4 2.1 2096 5/5/2010
18591 WAXWING WAY $424,900 DETACHD 3 2.1 2145 5/3/2010
5364 ROSEWOOD ST $425,000 DETACHD 4 2.1 1980 5/3/2010
231 LAUREL ST $425,000 DETACHD 3 3 2244 5/9/2010
1055 COUNTRY CLUB RD $449,000 DETACHD 2 2 2528 5/6/2010
13455 AUBURN CT $449,950 ATTACHD 3 2.1 1892 5/3/2010
5490 ROYAL OAKS DR $475,000 DETACHD 3 2 1761 5/4/2010
6 CHURCHILL DOWNS $499,950 DETACHD 5 3.1 2922 5/5/2010
3188 S GLENMORRIE DR $519,750 DETACHD 3 3 3066 5/6/2010
40 MORNINGVIEW CIR $549,500 DETACHD 3 2.1 2164 5/9/2010
5008 HAMPTON CT $594,000 DETACHD 4 2.1 2346 5/5/2010
14 WESTMINSTER DR $599,900 DETACHD 4 3 2768 5/7/2010
1158 BAYBERRY RD $649,000 DETACHD 4 4 2386 5/7/2010
13991 CHELSEA DR $649,000 DETACHD 4 2.1 3357 5/5/2010
156 GREENWOOD RD $650,000 DETACHD 2 2 3918 5/7/2010
4123 CHAD DR $769,950 DETACHD 4 3.1 3836 5/5/2010
620 CABANA LN $1,395,000 DETACHD 3 2.1 2417 5/3/2010

PENDING SALES (May 3-9, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
109 OSWEGO SMT $144,900 2 2 1212 CONDO 47
5051 FOOTHILLS DR $175,000 2 2 991 CONDO 248
5 SUMMIT RIDGE CT $297,500 2 2.1 1576 ATTACHD 58
4251 WOODSIDE CIR $305,950 3 2 2032 ATTACHD 48
16969 ALDER CIR $329,900 3 2 1534 DETACHD 67
454 5TH ST $335,000 2 1.1 1092 ATTACHD 156
18640 TUALATA AVE $349,900 4 3 2076 DETACHD 77
676 9TH ST $435,000 2 1 1850 DETACHD 259
1436 GREENTREE CIR $474,000 4 2 3072 DETACHD 10
610 9TH ST $975,000 4 3.1 3690 DETACHD 575

SOLD (May 3-9, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
15200 BOONES WAY $175,000 $163,400 2 1.1 1248 CONDO 142
210 Durham ST $199,900 $190,000 3 1.1 1318 CONDO 146
17886 TUALATA AVE $415,000 $358,000 4 2 1994 DETACHD 218
533 2ND ST $399,000 $399,000 2 2 1274 CONDO 42
4002 TEMPEST DR $430,000 $430,000 4 3.1 4319 DETACHD 33
5 EL GRECO ST $469,000 $489,000 4 2.1 2455 DETACHD 4
4311 ORCHARD WAY $519,000 $515,000 4 2.1 2916 DETACHD 201
5830 SUNBROOK DR $539,000 $520,000 5 2.1 2810 DETACHD 29
17 SCARBOROUGH DR $579,900 $525,000 4 2.1 3290 DETACHD 24
19203 SW Megly Ct $575,000 $569,900 5 3.1 3595 DETACHD 76
749 SOUTHVIEW RD $899,000 $885,000 4 2.1 3052 DETACHD 4

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.

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Open Houses on Mother’s Day, 5/9/2010

There are just 8 houses being promoted to be held open this Sunday, a reflection that many are celebrating the day with family. If you are able to get out, please take the time to go and see these great houses:

Address List Price Year Built SF Up+Mn Prop Type BR/BTH Open
116 TOUCHSTONE TER $310,000 1972 1,058 ATTACHD 3/2.5 1 to 3
19242 TERRY AVE $370,000 1965 936 DETACHD 4/2.0 2 to 4
9 WESTMINSTER DR $535,000 1976 3,042 DETACHD 4/ 2.5.5.5 2 to 4
339 6TH ST $575,000 2010 1,506 ATTACHD 4/ 3.5 1 to 4
92 GARIBALDI ST $699,000 1991 2,584 DETACHD 4/3.5 12 to 3
16827 SCOTT CT $910,000 1993 3,952 DETACHD 4/3.5 1 to 3
16805 SCOTT CT $1,190,000 1992 4,321 DETACHD 4/3.5 2 to 4
18820 GREENBLUFF DR $1,395,000 2000 4,656 DETACHD 4/4.5 12 to 3
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Lake Oswego Open Houses ~ May 2, 2010

There are 17 homes opening their doors this Sunday in Lake Oswego.  No condos this time.  Two Advanced Real Estate Townhomes on 6th Avenue though (these are absolutely gorgeous high-end homes at amazing prices with no HOA fees… definitely worth a look).  Here are the properties to be held open according to RMLS:

Address L/Price # Beds # Baths Total SF Prop Type Open
18238 TERRY AVE $375,000 3 2.1 1604 DETACHD 12-2PM
19242 TERRY AVE $395,000 4 2 1872 DETACHD 2-4PM
32 CHURCHILL DOWNS $448,250 4 2.1 3016 DETACHD 2-4PM
12409 SHELBY CT $449,900 3 2 2238 DETACHD 1-3PM
4859 SAGE HEN WAY $459,000 4 3 2417 DETACHD 1-4PM
73 TANGLEWOOD DR $499,500 4 3.1 4254 DETACHD 12-2PM
17640 TREETOP WAY $524,995 4 3 2718 DETACHD 2:15-4:15PM
33 MORNINGVIEW CIR $574,900 3 2.1 2737 DETACHD 2-4PM
363 6TH ST $575,000 3 3.1 2258 TWNHME 1-4PM
339 6TH ST $575,000 3 3.1 2258 TWNHME 1-4PM
220 GREENWOOD RD $599,900 4 4 2639 DETACHD 2-4PM
2475 MARYLVIEW CT $612,000 4 2.1 3049 DETACHD 1-3PM
1015 SOUTHSHORE BLVD $773,000 4 3 3542 DETACHD 10:30AM-12PM
18209 SIENA DR $1,178,950 5 3.1 3839 DETACHD 1-3PM
1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 1-3PM
18246 BELLA TERRA DR $1,294,000 4 3.1 4196 DETACHD 1-3PM
18820 GREENBLUFF DR $1,495,000 4 4.1 5382 DETACHD 12-3PM
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Double-bottom-line Thinking

I have had an idea swirling around in my head for a few weeks now. It comes from my personal experience with clients as they interact with the current economy and the housing market. This idea really jelled in my thinking when I read Ted Leonsis’ article in the April 12th issue of Newsweek.

My observation with clients, both buyers and sellers, is that there is a tremendous amount of attention and focus put onto the dollars involved in buying and selling. This is nothing new. Real estate is, for most people, the largest financial investment they will make in their entire lifetime. So what is different is that the weight being put onto the investment is in many cases causing people to forget that real estate is also about a home. Yes, I am addressing this to houses that people live in and not to rentals or portfolio properties. What I am seeing is that people are so driven to get the right deal, that they are passing up properties that are far superior in amenities.

Ted Leonsis is a former vice chairman of AOL and the author of a book, The Business of Happiness. His theory is that a company who wants financial success needs to not only think in terms of making money, but also in terms of doing what is often difficult but what is ultimately the right thing to do. This in turn keeps the company on a path of happiness that will ultimately also bring greater financial success. In other words, there is a link between pursuing happiness and also finding financial success. His case in point is the recent move by Google to route Web users from China to an unrestricted search page based out of Hong Kong. While this move may, in the short term, stifle the financial growth of Google in the biggest Internet market in the world, Leonsis believes that in the long term it will have greater financial success by placing its core values to do the right thing for humanity ahead of it’s short-term interest in its bottom line.

“Google aims to make money, of course, but it also has a motto (“Don’t be evil”) and a higher calling: to organize the world’s information and make it universally accessible. By refusing to participate in Chinese censorship, the company imperiled billions of dollars in future profit. More important, it protected its status as a happy company at peace with its values—and happy companies are more, not less, likely to continue being successful.”

Ted Leonsis goes on to call this way of looking at business double-bottom-line thinking. In other words, success should be measured by the financial growth of the investment, but also by the positive out come for the happiness of human beings.

It is probably my liberal arts education coming out here, but I find this to be really important. As a Realtor, when I represent buyers my job it to get them the best possible deal. When I represent sellers, by job is to get them the highest possible sales price. I never loose focus on that. But it is hard when I have a buyer who is saying to me “show me foreclosures and short sales because I’ve heard that they are the best deal”. Or when a seller passes up a lower offer that is all cash for a higher offer with a buyer who is only putting down 5%. Focusing strictly on money may cause you to pass up the house that was lovingly cared for and is priced $10,000 higher than the beaten up foreclosure down the street. And in this lending environment, cash buyers are a real blessing.

I guess I think that there is value that needs to be also given to things like timing (short sales take months to close, if they happen at all), good will (they buyer will take the house with the big pile of yard debris in the yard because it doesn’t bother them to have to clean it up), and livability (the big kitchen is ideally designed with loads of cabinets and counter space). For some reason this economy and this real estate market has got both buyers and sellers fixated on money, money, money. And that has them acting blindly to happiness. I thinking buying the right house, where you will live and grow, is just as important as buying the right deal.

The perfect sale does both: the house will be bought or sold at the right deal and it will also be more than a house, it will be a home. That is double-bottom-line thinking and that is a good way to approach both a property purchase and a property sale.

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Market Activity Report ~ April 12 – 18, 2010

Lake Oswego saw 21 New properties enter the market, 21 go to Pending status, and 11 Sold during last week’s Monday – Sunday period according to RMLS. Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (April 12—April 18, 2010)

Address List Price # Beds # Baths Total SF Prop Type List Date
4459 THUNDER VISTA LN $215,000 2 2.1 1,925 CONDO 4/18/2010
15 BRITTEN CT $274,999 3 2.1 1,973 ATTACHD 4/12/2010
15148 QUARRY RD $279,000 3 2 1,618 DETACHD 4/16/2010
1005 SOUTHSHORE BLVD $289,900 3 2 2,196 DETACHD 4/16/2010
1225 SPRUCE ST $299,900 3 1.1 1,288 DETACHD 4/16/2010
6218 NOKOMIS CT $309,900 4 2 1,512 DETACHD 4/17/2010
104 KINGSGATE RD $359,000 3 2.1 2,000 DETACHD 4/16/2010
14433 HOLLY SPRINGS RD $384,950 4 2.1 1,939 DETACHD 4/12/2010
4700 LOWER DR $409,900 3 2.1 1,587 DETACHD 4/12/2010
1642 HIGHLAND DR $449,000 4 3 2,234 DETACHD 4/12/2010
5008 HARTFORD PL $463,900 4 3 3,223 DETACHD 4/15/2010
14371 SHERBROOK PL $479,900 4 2.1 2,550 DETACHD 4/16/2010
2650 LOOKOUT CT $495,000 4 3.1 3,480 DETACHD 4/12/2010
1570 Woodland TER $524,900 4 2.1 2,311 DETACHD 4/16/2010
17573 BLUE HERON CT $584,000 4 3 2,396 DETACHD 4/14/2010
4184 SUNSET DR $649,000 6 3 2,916 DETACHD 4/14/2010
3210 FIR RIDGE RD $795,000 4 3.2 2,832 DETACHD 4/13/2010
1176 TROON RD $859,000 3 2 3,022 DETACHD 4/16/2010
12819 ALTO PARK RD $1,097,500 4 4.1 3,944 DETACHD 4/12/2010
16777 PHANTOM BLUFF CT $1,250,000 4 2.2 5,102 DETACHD 4/15/2010
1961 CHERYL CT $1,275,000 5 4.1 5,124 DETACHD 4/12/2010

PENDING SALES (April 12 – April 18, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
96 CERVANTES CIR $129,900 2 1.1 912 CONDO 64
750 1ST ST $185,000 2 2 1,350 CONDO 73
16149 PEARCY ST $229,900 3 2 1,250 DETACHD 17
211 OSWEGO SMT $229,900 2 2 1,506 CONDO 241
5341 CHINOOK CT $249,700 3 2 1,120 DETACHD 598
2764 GLEN HAVEN RD $294,900 3 1.1 1,352 DETACHD 10
1818 COUNTRY CLUB RD $325,000 3 2 1,596 DETACHD 4
4310 SILVER CT $339,000 2 3.1 1,996 CONDO 298
17870 DEERBRUSH AVE $349,900 3 2.1 1,912 DETACHD 18
5834 SEVILLE AVE $350,000 3 2 1,516 DETACHD 5
18156 PIONEER CT $367,300 3 2 1,558 DETACHD 27
119 3RD ST $385,000 3 2 1,204 CONDO 187
15547 PARTRIDGE DR $389,900 3 2.1 2,266 DETACHD 214
1790 YARMOUTH CIR $419,950 2 2 1,473 DETACHD 206
14377 CAMDEN LN $499,900 4 2.1 2,530 DETACHD 2
4705 LAKEVIEW BLVD $529,900 4 2.1 2,700 DETACHD 7
5830 SUNBROOK DR $539,000 5 2.1 2,810 DETACHD 29
17471 CARDINAL DR $564,900 4 2.1 3,056 DETACHD 61
5218 WESTFIELD CT $649,900 4 2.1 3,125 DETACHD 284
4349 LAKEVIEW BLVD $650,000 3 3 3,678 DETACHD 10
13278 ROGERS RD $695,000 3 2.1 2,964 DETACHD 177

SOLD (April 12- April 18, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE $129,000 $134,000 2 2 979 CONDO 6
668 MCVEY AVE $219,000 $205,000 3 1.1 985 CONDO 243
505 8TH ST $389,000 $305,000 3 1 1,050 DETACHD 143
12519 27TH PL $339,000 $335,000 3 2.1 1,975 DETACHD 15
516 7TH ST $355,000 $347,500 3 2.1 1,502 DETACHD 12
13052 KNAUS RD $475,000 $400,000 5 3 3,026 DETACHD 34
4763 AVERY LN $514,900 $480,000 4 2.1 2,566 DETACHD 19
14279 CAMDEN LN $525,000 $485,000 4 2.1 2,373 DETACHD 71
10 OTHELLO ST $549,900 $535,000 4 3 3,440 DETACHD 3
17363 BROOKHURST DR $625,000 $605,000 4 2.1 3,420 DETACHD 14
64 BERWICK RD $759,000 $735,000 4 3.1 3,740 DETACHD 66

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.

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Lake Oswego Open Houses ~ Sunday, April 18, 2010

OK… did I hear that it’s supposed to be 70 degrees Sunday??? If you are in the market for a home in Lake Oswego, I can’t imagine that this stellar line-up of 34 homes and the blue skies would not be enough to entice you away from brunch… or yard work… or sleeping in : )

Here are the homes held Open according to RMLS.  As always, enjoy!

Address L/Price # Beds # Baths Total SF Style Time
1597 BONNIEBRAE DR $199,900 2 1 998 CONDO 1-3PM
4340 BOTTICELLI ST $239,900 3 3.1 2098 TWNHSE 1-3PM
16711 MELLON AVE $309,900 3 2 1346 DETACHD 1-4PM
16969 ALDER CIR $329,900 3 2 1534 DETACHD 1-3PM
3269 PHYLLIS CT $339,900 3 1.2 1711 DETACHD 1-4PM
4971 SUNTREE LN $394,900 3 2.1 1911 DETACHD 1-4PM
19242 TERRY AVE $395,000 4 2 1872 DETACHD 2-4PM
550 2ND ST $410,000 2 1.2 1520 TWNHSE 1-4PM
1642 HIGHLAND DR $449,000 4 3 2234 DETACHD 1-4PM
24 PARTRIDGE LN $449,000 4 2.1 3224 DETACHD 1-3PM
662 CLARA CT $469,900 3 3 2740 DETACHD 3-5PM
17802 HILLSIDE WAY $489,998 4 2.1 2965 DETACHD 1-3PM
1503 PINE ST $509,000 5 3 2792 DETACHD 2:30-5PM
19735 SUNCREST DR $544,950 4 3.1 3224 DETACHD 2-4PM
12 MONTICELLO DR $549,000 4 2.1 3658 DETACHD 11-2PM
19415 SW DOGWOOD CT $549,900 5 3 3517 DETACHD 10AM-5PM
19288 SW Megly CT $579,900 5 3 3594 DETACHD 10AM-5PM
17491 BLUE HERON DR $639,950 4 2 2396 DETACHD 1-3PM
4184 SUNSET DR $649,000 6 3 2916 DETACHD 2-4PM
19244 35TH PL $729,000 4 3 3503 DETACHD 12-2:30PM
1015 SOUTHSHORE BLVD $773,000 4 3 3542 DETACHD 11-2PM
14480 KRUSE OAKS BLVD $895,000 4 3.1 4661 DETACHD 10-2PM
12439 SW 22ND AVE $899,900 4 3.1 4118 DETACHD 2-4PM
17896 KELOK RD $948,500 5 5 4323 DETACHD 2:15-4PM
18222 SIENA DR $1,088,000 6 4.1 3800 DETACHD 1-3PM
18209 SIENA DR $1,178,950 5 3.1 3839 DETACHD 1-3PM
17464 RIDGEVIEW LN $1,199,950 4 3.1 4407 DETACHD 1-3PM
1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 1-3PM
18246 BELLA TERRA DR $1,294,000 4 3.1 4196 DETACHD 1-3PM
657 OAK MEADOW DR $1,349,950 4 3.1 4371 DETACHD 1-3PM
3114 DOUGLAS CIR $1,395,000 4 4 5420 DETACHD 12-4PM
17364 RIDGEVIEW CT $1,399,950 4 3.1 4436 DETACHD 1-3PM
18820 GREENBLUFF DR $1,495,000 4 4.1 5382 DETACHD 2-4PM
2572 GLEN EAGLES PL $2,395,000 5 4.2 6490 DETACHD 1-3PM
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Local Lake Oswego Updates

Pedestrian Safety – The City of Lake Oswego is letting all know ahead of time of it’s efforts at upholding pedestrian safety.  To this end, the police department is holding a “Pedestrian Safety Operation” on April 19th, from 10:00AM to 2:00PM at the intersection of B Avenue and 2nd Street.  In times past this has involved posting pedestrians at the sidewalk and gauging cars’ responses as they step off the curb into the crosswalk…. usually with citations accompanying undesirable reactions on the part of drivers.  Be forewarned… stay safe… and keep our pedestrians safe!

Overly-Industrious Flicker – There has been a Flicker noticed at Lake Oswego City Hall…. mainly for the noise it produces as it does what Flickers do… and for the damage it is apparently doing to the building.  The city is trying to distract the Flicker from it’s work & encourage it to go elsewhere… (it can come to my house… but it will need to take a vacation!) with brightly colored & decorated balloons.  So, if you see these at city hall (perhaps you are visiting to pay a pedestrian-safety-ticket or some other such thing : )  Don’t be alarmed, and don’t worry that there is a celebration you are missing… it is just the city’s attempt to shush a Flicker to another location. (Yes, I drew this… and no, I have no shame :  )

The City of Lake Oswego’s “Attitude Survey” – Every two years the City of Lake Oswego conducts an attitude survey, and this year phones in Lake Oswego have already started ringing as Campbell Delong Resources calls to inquire as to how citizens are feeling about a variety of things affecting life here. Calls are expected to continue until April 19th.  Here is a link to the last survey in 2008:   Attitude Survey

Lake Oswego Trees –  As most know, Lake Oswego takes its trees rather seriously.  This is great for us at this time of year as we usually have some interesting offerings in terms of classes or events in that regard.  This year we have several workshops to choose from:

* Tree Pruning with Damon Schrosk, a certified arborist of “Treecology” – May 9th, 9:00Am to 12:00PM at the City Hall Council Chambers, 380 A Avenue.

* Gardening with Natives – Stephanie Wagner of Friends of Tryon Creek offers this workshop on native species gardening May 16, 1:00PM to 4:00PM, Tryon Creek Nature Center, 1131 SW Terwilliger Blvd.

* Tree Code Decoded – This one is a must for any Lake Oswego citizen wanting to do something with their trees other than look at them and admire their beauty.  Bill Youngblood, Code Enforcement Officer, and Andy Gulizia, Associate Planner for the city of Lake Oswego will guide you in what’s allowed, what’s not allowed, and proper steps if you want to pursue making any changes on your property with regard to trees. June 5th, 9:00AM to 12:00PM City Hall Council Chambers, 380 “A” Avenue.

* Centennial – Lake Oswego is offering Part 3 of the Oswego Centennial Video. This is great stuff if you are interested in the history of Lake Oswego… and who wouldn’t be!  If you are not familiar with it, our roots are worth investigating.  Part 3 evidently explores the time during which Lake Oswego began to blossom into its recreational destiny with water sports (skiing, boating & swimming)  being a big draw from Portland, and local athletes becoming nationally-known swim stars. This video covers the 40’s through the 60’s.  You can learn more and view the retrospective video at:  LO Centennial

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Market Activity Report for Lake Oswego, April 5-11, 2010

It is an absolutely glorious day today, and it is only supposed to get better as the week goes on. I love it! I also want to thank the propertyblotter readers who came by my open house on Sunday. Great to meet you!

Last week Lake Oswego had 24 new listings come onto the market, 19 houses that went pending, and 7 houses that were closed sales. Here is the full data for last week (see below for additional notes):

NEWLY LISTED (April 5-11, 2010)

Address List Price # BR # BTHS Total SF Prop Type List Date
47 GREENRIDGE CT $100,000 2 1.1 1,176 CONDO 4/5/2010
100 KERR PKWY $134,900 2 1.1 822 CONDO 4/8/2010
4 TOUCHSTONE $184,000 3 2.1 1,350 ATTACHD 4/8/2010
5287 W SUNSET DR $249,900 2 1 822 DETACHD 4/6/2010
1818 COUNTRY CLUB RD $325,000 3 2 1,596 DETACHD 4/9/2010
10 PREAKNESS CT $375,000 4 2.1 2,270 CONDO 4/6/2010
4971 SUNTREE LN $394,900 3 2.1 1,911 DETACHD 4/7/2010
14423 ORCHARD SPRINGS RD $405,000 3 2.1 1,730 DETACHD 4/9/2010
17712 CARDINAL CT 420000 4 3 2,146 DETACHD 4/7/2010
24 PARTRIDGE LN 449000 4 2.1 3,224 DETACHD 4/8/2010
4844 LOWER DR 499000 4 4 2,285 ATTACHD 4/5/2010
4705 LAKEVIEW BLVD 529900 4 2.1 2,700 DETACHD 4/5/2010
745 BERWICK CT 549000 3 2 1,988 DETACHD 4/7/2010
4852 LOWER DR 569000 3 4 2,359 ATTACHD 4/5/2010
110 3RD ST 599000 1 1 915 DETACHD 4/5/2010
1704 GLENMORRIE TER 599000 5 3 3,885 DETACHD 4/9/2010
3899 DANIEL WAY 630000 4 2.1 3,005 DETACHD 4/9/2010
4349 LAKEVIEW BLVD 650000 3 3 3,678 DETACHD 4/7/2010
12211 ORCHARD HILL RD 715000 4 3 4,587 DETACHD 4/5/2010
426 7TH ST 725000 4 2.1 2,902 DETACHD 4/5/2010
4679 DOGWOOD DR 925000 5 3.2 4,456 DETACHD 4/9/2010
190 FURNACE ST 1000000 5 4.1 4,590 DETACHD 4/7/2010
2811 ARROWHEAD CT 1250000 4 3.1 3,740 DETACHD 4/9/2010
16743 GRAEF CIR 1599000 4 2.1 3,772 DETACHD 4/7/2010

PENDING SALES (April 5-11, 2010)

Address List Price # BR # BTHS Total SF Prop Type CDOM
4000 CARMAN DR $125,000 2 2 935 CONDO 346
65 OSWEGO SMT $129,900 2 2 1,140 CONDO 8
18420 DON LEE WAY $210,000 3 1 924 DETACHD 25
19032 KRISTI WAY $259,900 2 2 1,390 DETACHD 7
4420 GOLDEN LN $279,900 3 3.1 2,165 CONDO 391
4774 OAKRIDGE RD $329,000 3 1 2,104 DETACHD 220
3056 WEMBLEY PARK RD $339,000 3 2 2,600 DETACHD 36
4548 BLACK FOREST CT $414,000 4 2.1 2,157 DETACHD 649
4962 BILFORD LN 419900 3 2.1 2,168 DETACHD 106
1400 LEE ST 427500 4 3 2,804 DETACHD 106
1851 KILKENNY DR 450000 4 3 2,654 DETACHD 2
561 2ND ST 589000 2 2 1,561 CONDO 67
19203 SW Megly Ct 589900 5 3.1 3,595 DETACHD 76
18010 GIMLEY CT 685000 4 2.5 3,652 DETACHD 27
14124 HEATHROW LN 785000 4 3.1 3,812 DETACHD 5
19175 EASTSIDE RD 799000 5 4.1 5,263 DETACHD 86
3820 SOUTHSHORE BLVD 925000 5 4 4,855 DETACHD 169
842 6TH ST 1099999 4 3.1 3,840 DETACHD 62
17979 CRESTLINE DR 1149000 4 2.1 4,650 DETACHD 7

SOLD (April 5-11, 2010)

Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
3365 UPPER DR $299,999 $290,000 2 2 1,378 DETACHD 133
15 SAINT HELENS CIR $309,800 $295,000 3 2 1,528 DETACHD 6
2030 GREENTREE RD $368,900 $365,000 3 2 1,613 DETACHD 12
523 2nd ST $399,000 $399,000 2 2 1,274 CONDO 38
5400 BAY CREEK DR $499,900 $475,000 4 2.1 2,856 DETACHD 277
17079 CHERRY CREST AVE $575,000 $540,000 3 2.1 3,002 DETACHD 30
260 PINE VALLEY RD $1,369,000 $995,000 4 3.1 3,900 DETACHD 522

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.

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Lake Oswego Open Houses for Sunday, April 11, 2010

This Sunday is the National Association of Realtors Nationwide Open House. That is reflected here in Lake Oswego by the fact that there are 58 houses being held open on Sunday. So if there ever was a day that you considered driving around to see some houses, this Sunday is that day. I am proud to also let you know that I will be holding open 211 Oswego Summit, a gorgeous, view condo at the top of Mt. Park. I noticed that in the affordability category, it is the 5th least expensive property on the open house roster. Come on by. I’d love to meet you.

Address List Price # BR # BTHS Total SF Prop Type Open
44 EAGLE CREST DR $119,900 2 1 908 CONDO 1 to 4
4 TOUCHSTONE $189,995 3 2.1 1,350 CONDO 1 to 3
287 CERVANTES $195,000 3 1.1 1,144 CONDO 2 to 4
200 BURNHAM RD $205,850 1 1 820 CONDO 3 to 5
211 OSWEGO SMT $229,900 2 2 1,506 CONDO 12 to 3
4340 BOTTICELLI ST $239,900 3 3.1 2,098 CONDO 1 to 4
12835 SW 62ND AVE $279,500 3 2 1,200 DETACHD 12 to 2
12892 BOONES FERRY RD $299,000 2 2.1 1,136 CONDO 1 to 3
4505 WILDWOOD ST 329900 3 2 1,720 DETACHD 1 to 3
5756 SW KENNY ST 339000 3 2.1 1,542 DETACHD 2 to 4
15965 INVERURIE RD 349900 3 2 1,915 DETACHD 10:30 to 12:30
5324 LOWER DR 370000 3 2.1 2,034 DETACHD 1 to 3
119 3RD ST 385000 3 2 1,204 CONDO 1 to 4
17763 MARDEE AVE 399500 5 3 2,300 DETACHD 1:30 to 3:30
16901 LAKERIDGE DR 399900 4 3 2,080 DETACHD 1 to 3
19026 INDIAN SPRINGS RD 399900 5 3 2,471 DETACHD 2 to 4
138 KINGSGATE RD 399900 3 2.1 1,600 DETACHD 1 to 3
5644 WINDFIELD LOOP 410000 3 3 1,800 DETACHD 1 to 3
405 BOCA RATAN DR 449000 3 2.1 2,040 DETACHD 1 to 4
1641 ASH ST 450000 4 3 2,825 DETACHD 1 to 3
2697 LOOKOUT CT 450000 3 2 2,419 DETACHD 12 to 2
13340 AUBURN CT 465000 3 2.1 2,451 ATTACHD 1 to 3
5475 WILLOW CT 474900 3 2.1 2,438 ATTACHD 1 to 3
1344 TROON DR 475000 3 2 2,600 DETACHD 12 to 2
1931 WOODLAND TER 495000 4 3 2,817 DETACHD 1 to 4
136 D AVE 515000 2 2.1 1,741 ATTACHD 1 to 4
5678 CHARLES CIR 540000 3 4 3,455 DETACHD 1 to 3
745 BERWICK CT 549000 3 2 1,988 DETACHD 1 to 4
19415 SW DOGWOOD CT 549900 5 3 3,517 DETACHD 10 to 5
1060 UPPER DEVON LN 559000 3 2.1 2,400 DETACHD 12 to 2
26 INDEPENDENCE AVE 574000 4 3 3,694 DETACHD 1 to 3
19288 SW Megly CT 579900 5 3 3,594 DETACHD 10 to 5
17879 HILLSIDE DR 584900 3 3 3,049 DETACHD 1 to 4
19266 SW MEGLY CT 589900 4 3 3,575 DETACHD
19101 INDIAN CREEK AVE 599900 2 2.1 3,259 DETACHD 2 to 5
7 MOUNTAIN VIEW LN 609000 5 2.1 3,324 DETACHD 1 to 4
18606 WESTVIEW DR 649900 3 2.5 2,783 DETACHD 12 to 3
18010 GIMLEY CT 685000 4 2.5 3,652 DETACHD 12 to 3
5705 SOUTHWOOD DR 687000 3 2.1 3,372 DETACHD 1 to 3
1015 SOUTHSHORE BLVD 773000 4 3 3,542 DETACHD 11 to 2
282 GREENWOOD RD 799500 3 2.1 2,538 DETACHD 2 to 6
1785 PALISADES TERRACE DR 847000 5 4.1 5,052 DETACHD 1 to 3
12439 SW 22ND AVE 899900 4 3.1 4,118 DETACHD 2 to 4
17896 KELOK RD 948500 5 5 4,323 DETACHD 2:15 to 4
18222 SIENA DR 1088000 6 4.1 3,800 DETACHD 1 to 3
17642 UPPER CHERRY LN 1099000 3 3.1 3,927 DETACHD 12 to 3
1809 HEADLEE LN 1125000 2 2.1 3,836 DETACHD 1 to 4
18209 SIENA DR 1178950 5 3.1 3,839 DETACHD 1 to 3
16805 SCOTT CT 1190000 4 3.1 4,321 DETACHD 12:15 to 2:15
17464 RIDGEVIEW LN 1199950 4 3.1 4,407 DETACHD 1 to 3
1808 RIDGE POINTE DR 1269000 5 4.1 4,155 DETACHD 1 to 3
18246 BELLA TERRA DR 1294000 4 3.1 4,196 DETACHD 1 to 3
408 Northshore RD 1299000 4 3.1 3,753 DETACHD 1 to 3
664 OAK MEADOW DR 1299950 4 3.1 4,198 DETACHD 1 to 3
657 OAK MEADOW DR 1349950 4 3.1 4,371 DETACHD 1 to 3
17364 RIDGEVIEW CT 1399950 4 3.1 4,436 DETACHD 1 to 3
18024 SKYLAND CIR 1665000 4 3.2 4,131 DETACHD 12 to 3
15825 OSWEGO SHORE CT 1985850 4 3.1 4,317 DETACHD 12 to 2
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News & Notes

State of the Market:

  • Have We Hit Bottom? The experts agree that generally speaking, the country has “hit bottom”, with various areas lagging behind a bit.   CNN.Money.com predicts that the Portland area will hit bottom in Q3 of this year. Our latest RMLS Market Action Report for the Portland area indicates that Portland metro area closed sales increased 18.4% when comparing 2009 vs 2010. Pending sales rose 45% and new listings rose 12.4%. The average sales price declined 8.5%.

(Money Magazine) — The drama is nearly over. After a decade of extremes — the ebullient highs of the real estate boom, then the devastating lows of the bust — calmer forces are beginning to prevail in the housing market.

  • Local Lake Oswego Data The RMLS Market Action Report lumps West Linn and Lake Oswego together, but here is some interesting data:
    * In February 2010 the average sales price was $457,700.
    * The average time on the market was 153 days.
    * Pending Sales rose 52.7% in Feb 2010 as compared to Feb 2009.
    * The average sales price has declined 9.7% in a rolling 12-month equation (i.e. 3/1/08 – 2/28/09 compared with 3/1/09 – 2/28/10)
  • Rates are Rising I have clients asking  “Is this the right time to buy or should we wait?”  One thing we know is that rates are rising. Right now they are still in the 5% range…  actually they are up a bit today at 5.125% but overall they’ve been fluctuating between 4.875% and 5.125% for 30-yr fixed.  As for more foreclosures to come, and prices lowering… interest rates are rising, some say 7% is possible NY Times… so if you ARE planning to finance, all the experts agree that this is the time to be buying, because even if prices go lower, the fact that the interest rates go up effectively nullifies your benefits.
  • Portland Area Rating Improves “Mortgage insurance companies have upgraded Portland’s property value housing trends, meaning that they predict values to be stabilizing in the Portland market.”  Pat Goodell, Academy Mortgage
  • Tax Credits For first-time home-buyers and “moving-up” buyers, there is still time to find a property you love & get a mutually-agreed deal in place before April 30th. So….  hang in there if you are still looking for that “right” one.  Work with your Realtor to narrow the field, or give Dianne or me a call if you are not working with a Realtor.  (I love working with Buyers…. it is actually the reason I originally got into real estate.)
  • USDA Loans USDA anticipates running out of funds to lend by end-April 2010.  If you are thinking about rural properties and considering a USDA loan, now would be the time to ink an offer.
  • FHA Mortgage Insurance Premiums Rising FHA’s upfront (financed) mortgage insurance premium increased to 2.25% effective April 5. And/but, if you are anticipating taking advantage of an FHA loan, don’t fret too much. You WILL now have the higher premium, however,  it’s not anything that should get you in a tizzy, as it will make very little difference in your mortgage payment.  For example, on a $300,000 loan amount, your payment will only increase by approximately $8./month adding in that higher mortgage insurance premium.  (This according to Pat Goodell of Academy Mortgage  503 380 0953.)
  • “The Deal” One thing I am noticing is that many people are becoming so enamored with “the deal” these days, that some are missing the point of why they decided to purchase to begin with, so I am simultaneously always trying to meet my clients needs & desires in a *property* (i.e. what they are trying to accomplish for themselves in their lives w/the purchase… what they truly like), while at the same time being cognizant of the “deal factor” for them.  Keep in mind these things regarding “deals”…  there are basically three kinds:
  1. People who are pricing their homes to sell. They have their own circumstances (down-sizing/relocation/up-sizing/on & on & on), and they are wanting to move on in some fashion.  There are plenty of these out there these days, especially as home owners look around and face the fact that they are now competing with so many homes in or approaching foreclosure.  There are some very real advantages to buying your home from these folks.  Some include: Often these homes are in tip-top shape / You are dealing directly with the owner of the home and as long as the agreed-upon sales price does not dip below what they owe on the property, you are in “Pending” status when you reach mutual acceptance, and /You are negotiating only with the Seller.  / You proceed through a normal closing process if you are taking out a loan, and notwithstanding any negotiations or hoops you need to jump through for the underwriter, you will most likely close in 30-45 days.
  2. Short Sales. These homes’ owners owe more to the bank than what the property is worth in today’s market. The bank is agreeing to take less than what is owed from the Seller.  There are many, many banks in existence and each has its own methods and processes, so there is no uniformity of what to expect, with a few exceptions that I will get into in a moment.  There may be more than one bank involved if there is a second mortgage or more. There are a few things that you can expect, and they are:   * Even if the Seller accepts your offer, the bank is the one (or ones) to give final approval considering that what they will receive is less than what was contracted with the Seller.   ***The bank (s) will usually have paperwork that you must sign if you want to be in the running that will change how the property proceeds through the sale process including: Notifying you that they will only accept an earnest money check & no promissory notes/ They will keep your money and wait to see how many other offers they receive / They will not give you a time line on when they will respond to your offer / You are usually on your own with regard to any repairs / It is usually several months before you find out if your offer was the one accepted & get to proceed to close / During this process the property very often stays in “Active” position on RMLS / Very often the paperwork you must sign includes a provision wherein the bank retains the right to accept another offer right up to closing.   ***For these reasons,  I counsel clients that they must REALLY be in love with a property to proceed through this process.  Also, depending on the property, you may be entering territory wherein you know that you will be competing with other offers, so the best advice, if this is the case, is to make this your best offer… especially if you plan to sit out the long process and want to have a happy ending.  Don’t try to “wing it”… these are complicated times & even the professionals involved are still feeling out the landscape.  There are all kinds of people calling themselves “experts”.  Make sure you know what you are doing and ask for licenses if you think people on the periphery are operating outside of their scope of expertise. Talk to your Realtor as to what your options are, and rely on that trusted professional relationship for guidance.
  3. Bank-owned properties. These homes have usually been through the short sale phase unsuccessfully.  The property has either been on the market & not sold, or the owners opted not to try a short sale and have simply stayed in the property until they had to move on as the bank proceeded through their legal remedies to regain the property due to non-payment.   These properties are sometimes in sad condition due to hardship (i.e. deferred maintenance), but many times these days, they are in very good condition… a sign of the times & the large numbers of otherwise responsible homeowners who simply found themselves in an untenable position through job loss or other factors. The thing to remember about these properties is that the price is ALWAYS lower than either short-sales or standard “good deals”. The bank wants to move on and prices the home low.  The bank is now the Seller and usually acts just like a normal Seller, i.e. Negotiating (tho usually not for repairs)/ accepting or rejecting an offer/Moving on to close with the property going to “Pending” status once it’s mutually agreed-upon/Proceeding through a normal closing process for the Buyer. For this reason: Investors and others are waiting in the wings to pounce on these very often with cash offers, so you have to be quick, and you want to be very careful about low offers, though this can sometimes still be a viable option. Talk to your Realtor about options as they will vary from property to property.

Hope this info is helpful!