Tag: affordable housing

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Market Activity Sept 23-29, 2019

Real estate sales continue to hold strong. Last week new listings were just 12 while pending sales were 18 and closed sales were 20. This is simply a really good time to sell a house with properties selling at a rate that is greater than the number of new listings coming onto the market.

It’s also a really good time to buy a house. Interest rates are down and there is lots of excellent inventory.

Following is the breakdown for you according to RMLS:

New on the Market (Sept 23-29, 2019)

Address Type Price BR Baths Sq Ft
82 Galen St Condo $175,000 1 1 690
3968 Carman Dr Condo $309,900 2 2.5 1107
4085 Jefferson Pkwy Condo $339,000 2 2.5 1302
12735 SW 22nd Ave Detached $478,990 3 2 1620
3351 Fri Ridge Rd Detached $515,000 3 2 1750
34 Morningview Circle Detached $679,000 4 2.5 2942
13 Da Vinci St Detached $725,000 5 3.5 3815
116 Northshore Rd Detached $729,000 4 2 2218
1110 Hallinan Circle Detached $749,900 4 3.5 3548
17618 Blue Heron Rd Detached $795,000 4 2 2402
135 Furnace St Condo $870,000 2 2.5 1927
2917 Westview Circle Detached $1,298,000 5 4.5 4316

Pending Sales (Sept 23-29, 2019)

Address Type Price BR Baths Sq Ft CDOM
4000 Carman Dr #33 Condo $274,900 2 2 1103 2
336 Livingood Ln Detached $515,000 4 2.5 2392 194
12 Northview Ct Attached $525,000 3 3 3266 143
4722 Amherst Ct Attached $549,000 3 2.5 2976 138
13242 Vermeer Dr Detached $549,000 3 2.5 2100 7
4366 Sunset Dr Detached $559,000 3 2.5 1680 31
14363 Camden Ln Detached $579,000 4 2.5 2438 4
16 Abelard St Detached $625,000 5 3 3012 31
18212 Indian Creek Dr Detached $659,000 4 2.5 2283 3
319 3rd St Attached $679,000 3 3.5 1937 68
364 Northshore Rd Detached $769,000 3 2 2220 10
1255 Bayberry Rd Detached $789,000 3 2 1910 116
13711 Melrose Pl Detached $859,000 4 4 3742 108
828 8th St Detached $1,089,000 3 3.5 2839 801
4687 Firwood Rd Detached $1,198,000 3 2.5 2803 172
4155 Canal Rd Detached $1,250,000 4 3.5 3805 14
14089 Edenberry Dr Detached $1,499,000 5 2.5 3398 47
13132 Thoma Rd Detached $2,249,900 5 4.5 5362 144

Sold/Closed (Sept 23-29, 2019)

Address Type List Price Sold Price Sq Ft CDOM
5787 Baleine St Detached $389,900 $385,000 960 22
23 Mountain Circle Detached $475,000 $436,000 1,363 141
44 Touchstone Detached $425,000 $439,500 2507 23
21 Mountain Circle Attached $469,000 $456,500 1820 18
9 Pericles Detached $449,000 $465,000 2197 1
4281 Chapman Way Detached $569,900 $525,000 2038 50
16860 Lakeridge Dr Detached $534,000 $529,000 1829 2
20 Northview Ct Attached $624,900 $575,000 2809 65
4938 Mulholland Dr Attached $629,900 $578,662 2558 86
13660 Shireva Detached $679,000 $619,080 2674 35
8 Yorick St Detached $745,000 $728,000 3488 25
5998 Frost Ln Detached $749,000 $730,000 2935 22
877 Cornell St Detached $715,000 $734,635 3041 3
141 Wilbur St Detached $769,000 $769,000 1980 0
5705 Southwood Dr Detached $879,000 $859,000 3360 7
15564 Village Dr Detached $1,098,000 $1,050,000 3260 4
18953 Pilkington Rd Detached $1,115,000 $1,147,900 3420 410
3540 Red Cedar Way Detached $1,295,000 $1,235,000 4023 72
3919 Southshore Blvd Detached $1,899,000 $1,425,000 3986 375
100 3rd St Detached $2,350,000 $2,350,000 3478 32

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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Most and Least Expensive

There are currently 271 properties for sale in Lake Oswego. 217 of those are detached, single-family homes and 54 are condos or townhouses. I thought that this week I’d share the extremes in the market of most and least expensive.

The least expensive condo is a 1 bedroom, 1 bath unit that has 764 square feet. It was built in 1978 and has a carport. The asking price is $169,900 The most expensive condo is 2 bedrooms, 2.5 baths, located in First Addition. It was built in 2007, 1748 square feet, and has a 2-car garage. The asking price is $829,000.

The least expensive detached house is a single-level house that was built in 1953. It has 3 bedrooms, 1 bath, 1131 square feet and has a carport. The asking price is $399,900.

The most expensive house is located on one of the most beautiful lots on the main lake. It is just a stunning setting. It’s on my walking route that I have been walking for decades. The lot had an older home on it that I found gorgeous. When that house was torn down my heart sank. I asked around because I just couldn’t see why any one would have torn it down. What I learned was that the house was built up against some massive rocks and that the foundation leaked terribly. The engineering to preserve the house was beyond the cost of a new houses foundation, so it made financial sense to tear it down and start over. The house that is now on this lot was built in 1985. It has 5544 square feet with 4 bedrooms and 5.5 baths. Along with 250′ of main lake waterfront, the house has a swimming pool, hot tub, boat house and a guest house. It was originally listed in June for $8,500,000. The price has been dropped to $6,888,000.

I used to do this comparison kind of regularly as I liked to point out that Lake Oswego does have affordable housing. A condo for $169,900 and a house for $399,990 is right in there with other parts of the Portland metro area. I’ve always felt that buyers in this price range over look Lake Oswego because they just assume that there are only super expensive, luxury homes in LO. Yes, we do have lots of the luxury stuff, but we do have affordable as well. I like to get the word out.

As always, thanks for reading,
Dianne

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Market Activity Sept 9-15, 2019

In the last week or so fall has fully arrived. Temperatures have dropped, the wind is blowing, and my yard is getting the good watering it really needs. I’m tanking up on peaches and corn while they can still be found, and the real estate market is chugging right along.

Last week in Lake Oswego we had 16 properties come onto the market, 23 go into pending status, and 16 sold/closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (Sept 9-15, 2019)

Address Type Price BR Baths Sq Ft
3433 McNary Pkwy #301 Condo $229,000 2 2.5 1208
48 Cervantes Circle 3C Condo $299,000 2 1.5 1368
16250 Pacific Hwy #76 Condo $325,000 3 2 1745
1796 Bonniebrae Dr Townhouse $415,000 3 2.5 1738
668 McVey Ave #72 Condo $499,500 4 1.5 1184
2001 Country Club Rd Detached $549,000 3 2 2022
4045 Bass Ln Detached $610,000 4 2.5 2158
364 Northshore Rd Detached $769,000 3 2 2220
17821 Hillside Way Detached $848,000 4 3.5 3480
1699 Village Park Ln Detached $1,129,000 3 2.5+.5 3342
19990 Indian Trail Detached $1,150,000 4 3 3557
13561 Streamside Dr Detached $1,179,000 4 4.5 4240
4155 Canal Rd Detached $1,125,000 4 3.5 3805
14530 Uplands Dr Detached $1,499,900 5 3.5 4080
718 3rd St Detached $1,850,000 4 2 2859
1890 Twin Points Rd Detached $2,680,000 4 3.5 4274

Pending Sales (Sept 9-15, 2019)

Address Type Price BR Baths Sq Ft CDOM
8 Crestfield Ct Condo $172,900 1 1 689 64
15938 Quarry Rd 2B Condo $215,000 2 1 988 10
48 Eagle Crest Dr 3D Condo $283,000 2 2 1436 7
206 Greenridge Dr Attached $462,500 3 2 1392 10
524 2nd St Condo $497,500 2 2.5 1547 81
18391 Wood Thrush St Detached $499,900 3 2 1450 40
5222 Carman Dr Detached $565,000 3 2 2543 249
16972 Greentree Ave Detached $575,000 4 3 2692 7
18833 Indian Creek Ave Detached $619,900 4 2.5 2301 15
16 Da Vinci Detached $629,921 4 2.5 2460 59
17705 Tree Top Ln Detached $679,000 5 3 3428 113
2133 Ridgewood Rd Detached $729,000 4 3 2059 127
16705 Glenwood Ct Detached $750,000 5 3 4243 149
17613 Woodhurst Pl Detached $850,000 5 4 4622 31
17896 Kelok Rd Detached $874,500 6 6 4093 15
18970 Bryant Rd Detached $960,000 3 3 3172 2
3826 Upper Dr Detached $1,099,900 4 2.5 3187 231
17979 Kelok Rd Detached $1,239,000 2 2.5 2487 56
17912 Kelok Rd Detached $1,250,000 5 3 3218 6
2050 Childs Rd Detached $1,295,000 4 4.5 4814 115
13258 Amber Pl Detached $1,399,900 3 4.5 3436 485
2123 Glenmorrie Ln Detached $1,598,000 4 3.5 4331 42
4398 Lakeview Blvd Detached $2,100,000 4 3.5 3260 115

Sold/Closed (Sept 9-15, 2019)

Address Type List Price Sold Price Sq Ft CDOM
44 Eagle Crest Dr #23 Condo $177,900 $175,000 798 38
45 Eagle Crest Dr #409 Condo $200,000 $205,000 1,214 2
16250 Pacific Hwy #82 Condo $234,900 $229,900 841 32
3846 Boticelli St Condo $295,000 $275,000 1132 125
5 Bloch Terr Townhouse $364,900 $355,000 1972 54
5751 Washington Ct Detached $459,000 $439,500 2120 48
6472 Dawn St Detached $489,900 $485,000 1032 1
15275 Boones Way Attached $529,000 $520,000 1320 17
1 Cellini Ct Detached $550,000 $575,000 2200 3
14674 Rainbow Dr Detached $669,000 $625,000 3190 113
13202 Rogers Rd Detached $774,500 $760,000 3117 62
4353 Snowbrush Ct Detached $819,000 $819,000 3808 45
928 Lake Front Rd Detached $895,000 $887,500 2468 6
15167 Brook Ct Detached $935,000 $895,000 3880 66
17990 Ridge Lake Dr Detached $1,349,000 $1,260,000 3745 96
17410 Viewpoint Ln Detached $1,299,000 $1,310,000 4810 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.

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Convenience

Today I want to talk about convenience. More specifically, the convenience of where Lake Oswego is located.

We are about 10 miles South of downtown Portland, on the West side of the Willamette River. Interstate 5 is along our West boundary. Hwy 217 ends where LO begins. Interstate 205 is about a mile South of our South boundary. What does this mean? Well, it means you can get anywhere in the Portland metro area pretty darn easily. I-5 is the main artery of the entire West coast of the United States. Besides getting you into downtown Portland fairly quickly, it also takes you to Seattle, San Francisco and Los Angeles. 217 takes you to the largest employers in the state. You know, Nike, Intel, those guys. And 205 takes you to the East side of the metro area, including the airport. It’s kinda ideal.

Then there is she convenience of shopping. I’ve made this point before, so I’ll keep it brief. You need to buy something? It’s just minutes away. I’m talking more grocery stores than are really needed (is that possible?), Trader Joe’s, Costco, Home Depot, Bridgeport Village and Washington Square, it’s all super easy and quick to get to.

But what I really want to talk about are the parks. I’m a walker. I love to walk in nature parks. I first started doing this because I was putting in a lot of miles to train for a goal I had set for myself. I was looking for dirt paths that would be easy on my joints. Two parks I am completely in love with are Tryon Creek State Park and the Tualatin River National Wildlife Refuge. Tryon Creek has 8 miles of hiking trails, 3.5 miles of horse trails, 3 miles of biking trails, and a handicapped accessible trail. It meanders around a small stream that is in a revine, so the trails are very up and down (a great workout!) and through a lush forest. The Tualatin River National Wildlife Refuge is through a wetlands that is set aside for the migration of birds. The walk is flat but so majestic. What I love about this place, besides viewing the wildlife (which I see every time I go), is that it is set aside for the exclusive use of people on foot, walking. There are no bikes, no dogs, not even joggers. It’s extremely quiet and serene. Such a refuge to the soul in a world that is so busy and loud. I like to go early in the morning because the birds are just getting going. By mid afternoon they tend to be less evident. Heron, geese, ducks, red-wing blackbirds, nutria, on one occasion, an otter. It’s super enjoyable to see what can be seen, and it’s just a few miles from LO.

It’s all about quality of life!
Dianne

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Market Activity Aug 26-Sept 1, 2019

Real estate in Lake Oswego picked up a little last week. Not back to the numbers we saw in May and June, but a bit of an uptake from the last couple of weeks of August. This is probably because school has started and people are back into their routines. We had 20 new listings, 26 pending sales (that’s the uptick), and 18 closed/sold properties.

Following is the breakdown for you according to RMLS:

New on the Market (Aug 26-Sept 1, 2019)

Address Type Price BR Baths Sq Ft
4 Touchstone #69 Condo Auction 3 3 1351
15938 Quarry Dr Condo $309,000 2 1 988
3924 Carman Dr Townhouse $309,000 2 2.5 1140
3992 Carman Dr Condo $325,000 2 2.5 1107
4425 Thunder Vista Ln Condo $325,000 2 2.5 1980
5054 Foothills Dr H Attached $327,000 3 2 1252
102 Greenridge Ct Attached $455,000 3 2.5 2004
206 Greenridge Dr Detached $462,500 3 2 1392
16193 Inverurie Rd Detached $498,000 3 2 1248
1280 Oak Terrace Detached $549,900 3 2 1670
4366 Sunset Dr Detached $559,000 3 2.5 2440
4981 Hampton Ct Detached $619,000 4 2.5 2440
17896 Kelok Rd Detached $874,500 6 6 4093
5705 Southwood Dr Detached $879,000 4 2.5 3360
1405 Country Commons Ln Detached $1,200,000 4 3 4083
18026 Skyland Circle Detached $1,399,000 5 3.5 4134
667 Lake Bay Ct Detached $1,784,900 4 3.5 3616
17852 Upper Cherry Ln Detached $1,795,000 3 3 5299
1251 Forest Meadows Way Detached $2,125,000 4 3.5 5000
3015 Wembley Park Rd Detached $2,469,900 4 4.5 5211

Pending Sales (Aug 26-Sept 1, 2019)

Address Type Price BR Baths Sq Ft CDOM
5225 Jean Rd #403 Condo $279,000 2 2 1200 10
668 McVey Ave #55 Condo $294,900 1 1 636 196
4204 Woodside Circle Townhouse $329,900 2 2 1308 115
16317 Bonaire Ave Detached $349,000 3 1.5 1219 5
5787 Baliene St Detached $389,900 3 1 960 22
23 Mountain Circle Detached $445,000 2 2 1363 141
9 Pericles Detached $449,000 3 2.5 2197 1
17273 Bryant Rd Detached $475,000 3 1.5 1452 37
16722 Lake Forest Blvd Detached $484,900 4 2 1968 85
4281 Chapman Way Detached $539,900 4 3 2038 50
1551 Woodland Terr Detached $549,900 4 2 2712 1479
2415 Glen Haven Rd Detached $560,000 5 3 2614 47
3781 Tempest Dr Detached $599,000 3 2.5 3927 59
8 Walking Woods Dr Detached $599,900 4 3 3105 216
14677 Doris Ave Detached $599,900 5 3 2848 30
22 Juarez St Detached $599,900 4 2.5 3096 88
18225 SW 65th Ave Detached $625,000 5 2.5 2210 39
5587 Bay Creek Dr Detached $639,000 4 2.5 2507 11
13660 Shireva Dr Detached $649,000 4 3 2674 35
30 Westridge Dr Detached $659,900 4 3 3290 27
75 Nansen Summit Detached $675,000 4 3.5 3214 47
877 Cornell St Detached $715,000 3 3 3041 3
1125 Northshore Rd Detached $1,150,000 3 2 1589 49
3540 Red Cedar Way Detached $1,295,000 4 3.5 4023 72
748 6th St Detached $1,425,000 4 4.5 2865 151
1715 Edgecliff Terr Detached $1,675,000 4 4.5 4927 372

Sold/Closed (Aug 26- Sept 1, 2019)

Address Type List Price Sold Price Sq Ft CDOM
200 Burnham Rd #403 Condo $250,000 $250,000 1199 11
3828 Botticelli Condo $279,000 $282,500 1,273 21
17903 Belmore Ave Detached $469,900 $330,000 2016 78
12882 Boones Ferry Rd Condo $379,900 $367,000 1182 98
18365 SW 65th Ave Detached $389,000 $389,000 1032 9
19060 Indian Creek Ave Detached $524,000 $461,500 1566 120
17683 Schalit Way Detached $500,000 $515,000 1463 19
69 Condolea Terr Condo $569,900 $550,000 2157 13
17435 Bonniebrae Dr Detached $739,000 $689,000 3200 106
5536 Kilchurn Ave Detached $749,900 $722,500 2550 11
5327 Carman Grove Ln Detached $949,500 $918,000 3125 99
5680 Childs Rd Detached $1,099,000 $965,000 3430 68
5702 Meadowcreek Ct Detached $1,149,000 $1,089,000 3205 81
3197 Alber Spring Ct Detached $1,489,000 $1,335,000 4852 146
125 Middlecrest Rd Detached $1,429,000 $1,375,000 3242 8
611 Ridgeway Rd Detached $1,650,000 $1,550,000 4463 128
17613 Kelok Rd Detached $2,098,000 $1,971,500 4750 34

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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Loving Lake Oswego

There’s something about the waning days of summer. It makes me feel like I want to slow down and make it last. Maybe a bit reflective, but in a way that is joyful and appreciative. With that state of mind, I thought I’d share with you my personal list of why I love living in Lake Oswego.

Great schools, it’s why I moved here. Looking back, now that my kids are 30 and 33 years old, it was exactly the right thing to do. They both developed a circle of friends that encourage fun but also had really solid personal good character. Their Dad and I encouraged this at home, but the community has a spirit that helps kids have good influences in their lives, and I think I begins with the good schools.

Safety. I feel really safe living here. If I arrive home after dark, I just feel fine getting out of my car and carrying groceries into the house. I didn’t feel that way in the neighborhood where I used to live.

The flower baskets. They are stunning. Driving around and about in months between Memorial Day and Labor Day is such a pleasure with the amazing flower baskets, landscaped medians and flower beds.

The lake. It’s beautiful and I see it regularly as I show property and go on my daily walks. You don’t have to live on the lake to use it. Many homes have easements, but everyone in the city limits has access to the swim park.

Great restaurants. This didn’t used to be the case about 20 years ago, but man, it is sure the case today. Where to begin? Riccardos, Gubancs, La Provence, Jefe, St Honore, Tillamook Ice Creamery, Nicolettas, Manzanna, Five Spice, there are lots of great choices!

Always a Starbucks nearby. I’ve got 4 within walking distance of my house.

Great walking. I used to run, but these days I’m a walker. Short walks are amazing through the beautiful neighborhoods. One of my regular walks is about 3 miles long and right smack dab in the middle is a panoramic view of the lake. One of my long walks, I’ve done it so many times, is around the lake. From my house it’s a nine mile loop. What I like about it, besides the great views, is that it has so much variety of hills and flat stretches. It’s never boring.

Festival of the Arts in June and the Gallery Without Walls. I love art!

The Lakewood Theater. I love theater!

The community. I moved from SE Portland. I never felt the neighborliness that I feel in LO. I think that’s because it still pretty much a small town. We may be in a huge metro area, but we are our own unique community. I’ve found it to be very welcoming and friendly.

My list is getting long!

I’m going to end with a shout out to the Parks and Rec department (great, fun stuff to do), the LO Library (I use it a lot), and finally, the Willamette River (where I enjoy summer concerts at Foothills Park, put my kayak in at George Roger’s Park, and take more beautiful walks).

That’s my list. I may have moved here for the schools 20 years ago, but I feel like it is a gift that I gave to myself. I love living in Lake Oswego.

As always, thanks for reading.
Dianne

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Market Activity Aug 12-18, 2019

What a beautiful summer we are having! School starts in just one week. Time to slow down and really enjoy the fresh, sunny air and the long summer evenings. The best!

The market in Lake Oswego continues to be really balanced with nearly equal numbers of houses coming onto the market as houses that go pending. Last week we had 18 new listings, 19 pending sales, and 21 closed/sold properties.

Following is the breakdown for you according to RMLS:

New on the Market (Aug 12-18, 2019)

Address Type Price BR Baths Sq Ft
25 Oswego Summit condo $180,000 1 1 721
86 Kingsgate Rd H201 condo $219,000 2 2 840
318 Cervantes condo $239,900 3 2 1209
5225 Jean Rd #403 condo $279,000 2 2 1200
13 Erasmus St condo $319,900 2 2.5 1434
22 condolea Dr condo $385,000 2 2 1448
44 Touchstone Detached $425,000 4 3 2507
14401 Sherbrook Pl Attached $455,000 3 2.5 1823
21 Mountain Circle Attached $469,000 3 2 1820
1448 Cedar St Detached $649,000 4 3 2544
358 Lake Bay Ct Detached $735,000 3 2 1460
870 Lake Forest Dr Detached $747,900 3 2.5 1980
5998 Frost Ln Detached $749,000 4 2.5 2935
19319 Dogwood Ct Detached $825,000 4 2.5 3119
5 Scarborough Dr Detached $849,000 4 2.5 3221
3 Dover Way Detached $999,000 5 3.5+.5 4988
2311 Palisades Crest Dr Detached $1,279,000 4 2.5 4903
13131 Knaus Rd Detached $1,697,000 6 3.5+.5 5353

Pending Sales (Aug 12-18, 2019)

Address Type Price BR Baths Sq Ft CDOM
44 Eagle Crest Dr #23 Condo $175,000 1 1 798 38
4 Touchstone #91 Condo $209,900 2 2 993 77
4 Touchstone #140 Condo $229,000 3 2.5 1351 11
93 Oswego Summit Condo $239,000 2 2 1212 20
668 McVey Ave #55 Condo $294,900 1 1 636 186
5292 Firwood Rd Detached $499,000 3 1 1170 10
18391 Wood Thrush St Detached $499,900 3 2 1450 13
15275 Boones Way Attached $529,000 2 2 1320 17
1816 Palisades Lake Ct Detached $685,000 3 2.5 4598 161
1570 Bonniebrae Dr Detached $699,000 5 3 3200 106
14211 Dolph Ct Detached $699,000 3 2 1980 25
676 9th St Detached $799,900 2 1 1982 13
171 5th St Detached $849,000 4 2 2367 87
928 Lake Front Rd Detached $895,000 3 3 2468 6
5051 Lakeview Blvd Detached $1,079,900 4 3.5 3506 84
17990 Ridge Lake Dr Detached $1,299,000 5 3.5 3745 96
17410 Viewpoint Ln Detached $1,299,000 4 4 4810 9
13366 Briarwood Ln Detached $1,325,000 5 3 3310 56
13322 Briarwood Ln Detached $1,650,000 4 4 3921 55

Sold/Closed (Aug 12-18, 2019)

Address Type List Price Sold Price Sq Ft CDOM
45 Eagle Crest Dr #516 Condo $190,000 $197,000 600 36
172 Oswego Summit Condo $254,900 $227,000 1,383 146
750 1st St D22 Condo $269,000 $260,000 1350 28
5225 Jean Rd #404 Condo $365,000 $365,000 1500 3
6024 Fernbrook Circle Detached $475,000 $444,000 1616 50
908 Bickner St Detached $525,000 $460,000 2263 26
2001 Greentree Rd Detached $475,000 $472,500 2288 0
1760 Oak St Detached $519,000 $495,000 1680 9
6059 Seville Ave Detached $500,000 $500,000 2000 0
225 Hidalgo St Detached $574,900 $565,000 2251 7
14333 Sherbrook Pl Detached $588,000 $580,000 1475 8
14664 Rainbow Dr Detached $635,000 $635,000 3122 21
25 El Greco St Detached $685,000 $661,000 3731 26
4920 Mulholland Attached $699,888 $665,000 2498 79
327 Laurel St Detached $749,900 $670,000 2520 105
515 5th St Detached $799,000 $725,000 2295 434
5332 Lower Dr Detached $775,000 $750,000 2632 78
752 Lake Forest Dr Detached $795,000 $800,000 2319 0
17760 Overlook Circle Detached $779,000 $800,000 2357 5
29 Hillshire Dr Detached $1,150,000 $999,000 4690 144

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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2019 Street of Dreams

Last week I enjoyed Realtor day at the Street of Dreams. This years show is in Wilsonville, a really nice location that easily supports these home values. I always like to look for trends. Last year my big take away was textured walls and tile. This year several things stood out for me as well.

*Sliding barn-style doors are still really popular. One house has a set of two that come together to form the corner of the room. Very cool

*Chrome and nickel finishes were nowhere to be seen. It was all either matted black or brushed brass

*Lots of wall paper that looked like it was straight out of my parents house from the 1970s.

*Amazing light fixtures! Some from repurposed items like bottles and pulleys, but also really cool geometric shapes

*One house had old-fashioned painted brick. What’s old is new again.

*Sinks continue to be very inspiring with several homes that had one huge sink that served two faucets.

Hands down my favorite house was “Farm to Table” built by Renaissance Homes. The kitchen had a secondary kitchen designed to serve the back patio (this in addition to the kitchen on the back patio), a pantry, an amazing utility room with an island and massive amounts of storage, and, topping it off, a she-shed in the back yard! This house is just the sort of layout that a family that loves to cook and to entertain dreams of.

The show runs through August. Prices range from about 1.2 to 1.9 million.

Enjoy!
Dianne

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Market Activity July 29-Aug 4, 2019

We had a great week in real estate last week in Lake Oswego. 18 new listings came onto the market, 22 properties went into pending status and there were 26 closed/sold houses.

Following is the breakdown for you according to RMLS:

New on the Market (July 29-Aug 4, 2019)

Address Type Price BR Baths Sq Ft
4 Touchstone #140 Condo $229,000 3 2.5 1351
3822 Botticlelli St Condo $289,900 3 2 1171
18391 Wood Thrush St Detached $499,900 3 2 1450
14498 Camden Ln Detached $599,000 4 2.5 1918
14677 Doris Ave Detached $625,000 5 3 2848
45 Becket St Detached $650,000 3 2.5 2653
30 Westridge Dr Detached $659,900 4 3 3290
14201 Dolph Ct Detached $699,000 3 2 1916
17321 Canyon Dr Detached $699,500 5 3.5 4825
1286 Larch St Detached $724,900 4 2.5 2410
71 Nansen Summit Detached $749,000 4 2.5 3523
676 9th St Detached $799,900 2 1 1982
5005 Dogwood Dr Detached $987,000 5 3.5 4143
18803 Riven Dell Ct Detached $1,100,000 4 4.5 4538
1623 Maple St Detached $1,475,000 5 3.5 4797
2123 Glenmorrie Ln Detached $1,598,000 4 3.5 4331
16 Bernini Ct Detached $1,725,000 6 5 4786
1592 View Lake Ct Detached $2,195,000 3 3 3114

Pending Sales (July 29-Aug 4, 2019)

Address Type Price BR Baths Sq Ft CDOM
100 Kerr Pkwy #42 Condo $189,900 2 1.5 822 106
44 Eagle Crest Dr #41 Condo $194,950 2 1 908 3
3828 Botticelli St Condo $279,000 3 2 1273 21
750 1st St A7 Condo $296,000 2 2 1350 3
5225 Jean Rd #404 Condo $365,000 3 2 1500 3
18365 SW 65th Ave Detached $389,000 3 1 1032 9
12 Condolea Dr Condo $425,000 2 2 1312 16
6024 Fernbrook Circle Detached $465,000 3 2 1616 50
150 Kingsgate Rd Detached $485,000 3 2 1502 20
17653 Schalit Way Detached $450,000 3 2 1463 19
1760 Oak St Detached $519,000 5 2 1680 9
1 Cellini Ct Detached $550,000 3 2.5 2200 3
69 Condolea Ter Condo $569,900 2 2.5 2157 13
6419 Dawn St Detached $584,900 4 2.5 2016 382
18225 65th Ave Detached $599,000 5 2.5 2210
1621 Woodland Ter Detached $599,000 4 2.5 2933 34
4989 Mulholland Dr Attached $624,500 2 2.5 2403 7
515 5th St Detached $739,000 2 1.5 2295 434
5536 Kilchurn Ave Detached $749,900 5 2.5 2550 11
15147 Brook Ct Detached $815,000 4 2.5 3221 4
3197 Alber Spring Ct Detached $1,449,000 4 4.5 4852 146
748 1st St Detached $1,799,900 5 4 3854 183

Sold/Closed (July 29-Aug 4, 2019)

Address Type List Price Sold Price Sq Ft CDOM
4000 Carman Dr D53 Condo $169,023 $130,000 836 43
245 Cervantes Condo $279,999 $274,900 1,292 28
750 1st St #26 Condo $297,000 $295,000 1350 11
5225 Jean Rd #603 Condo $300,000 $305,000 1400 122
5060 Foothills Dr E Condo $349,000 $344,000 1252 6
17781 Overlook Circle Detached $599,900 $545,000 2741 4
2440 Greentree Rd Detached $549,900 $550,000 1881 4
1029 Laurel St Detached $575,000 $551,500 3188 8
17468 Fir Rd Detached $550,000 $569,000 1820 5
15790 Murwood Ct Detached $639,000 $599,000 2075 72
1640 Maple St Detached $625,000 $625,000 2091 6
1790 Westview Dr Detached $689,900 $689,900 3387 17
4120 Orchard Way Detached $739,000 $720,000 3123 22
1515 Cherry Ln Detached $1,350,000 $800,000 4699 1063
32 Wilbur St Townhouse $839,000 $839,000 2671 63
3232 Wembley Park Rd Detached $850,000 $847,000 2841 32
17590 Blue Heron Rd Detached $879,900 $867,900 2160 5
13707 Fielding Rd Detached $1,500,000 $878,500 3337 865
5476 Southwood Dr Detached $950,000 $935,000 3858 11
13915 Sundeleaf Dr Detached $1,085,000 $975,000 4090 152
2008 Ridgewood Rd Detached $1,170,000 $1,120,000 4268 9
1385 Morning Sky Ct Detached $1,240,000 $1,130,000 3690 119
18977 Pilkington Rd Detached $1,289,000 $1,295,500 3590 284
1128 Englewood Dr Detached $1,999,888 $1,770,000 8981 195
1411 Lake Front Rd Detached $2,098,000 $1,900,000 3349 39
940 Hoodview Ln Detached $2,248,000 $2,248,000 4638 107

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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Is Your House Taking Too Long to Sell?

This week, while doing the market activity report, I noticed 3 pending sales that had extended market times. Average market time is currently 79 days in Lake Oswego. So when I see pending sales that were 308 days, 354 days, and 1063 days, I know that the folks selling those homes must have felt a bit frustrated. It got me to thinking about what sort of advice I would give to someone in that position.

There are 3 things that you have control over when you list your home for sale: price, condition, and terms. That’s it. These are the things that you have control over.

Price and condition are easy to understand. Your home is not worth what you hope to make from it. It is worth what the market is showing to be true. This value is arrived at by looking at sales in your neighborhood that are as close in style, age and condition as possible to your house. There will be a range of value that usually has a swing of about $50,000. The condition of your home decides where you fit in that range. If your home is recently remodeled from top to bottom, it is at the high end of that range. If you still have 1970’s gold, shag carpet, you’re at the low end. You do not want to over price. Buyers are smart! They can see what zillow and trulia say about the value with just a touch of an ap on their phone. More importantly, they are touring other properties and getting a sense of the value so that they intuitively recognize what is over priced and what is a great value. They want to buy the house that is the great value. Over pricing by even a little bit will shoot you in the foot. The house will take longer to sell, and in all likelihood, will realize a lower sales price than would have occurred if the house had been priced correctly in the first place.

I have seen folks who had a house that wasn’t selling, that then took the house off the market, did some remodeling, and put it back on the market to realize a quick and successful sale the with the second shot at the market. Statistically, you don’t get 100% out of the dollars spent on remodeling, so if you go this route, it’s a risk to expect to be able to raise the price on the second marketing attempt to cover the cost of the remodeling. You can likely raise it a little bit, but be careful.

The last concept is terms. Terms are things like a tenant in the house who is uncooperative, or making showings difficult to arrange. It can also be things like expecting to be able to stay in the house after it is sold by renting it back. These things can discourage buyers. They are most easily corrected by either removing the issue or reducing the price.

I have developed a professional theory that 20 is the magic number. When buying a house you need to see about 20 houses before you are ready to make a decision about buying. When selling a house you need about 20 showings to generate an offer. If you are only getting one showing a week, you can estimate that you’ll be on the market for 5 months, which is too long. You need to rethink the price, the condition and the terms. If you have your house on the market and you get 20 showings the first weekend (this does not include showings at an open house), then you know you are going to get a quick offer. You might even get more than one offer and have the price raised by competing buyers.

Finally, I want to talk about location. Location is king. It always has been and it always will be. You have no control over the location of your home once you own it. So if you bought a house on a busy street, you probably bought it for less than a comparable home tucking onto a quiet street in the same neighborhood. It was a good deal so you decided the issue could be acceptable. When you go to sell that house, you need to make the price reflect the location. This makes the buying decision super important! Think about this when you choose a house and then be realistic when selling it.

A good Realtor will help guide you through this process. Your home is probably the biggest investment in your life. The services of a good Realtor will help you to maximize the return on your investment.

As always, thanks for reading.
Dianne

P.S. I looked up the house that took 1063 days to get under contract. It was on a busy street, required 24 hours notice to show, and on the Lake Oswego Landmark Designation List. It also had a converted garage, so no garage. It is a stunning home with lots of nice remodeling that respected the architectural integrity. It was first listed in July of 2016 for $1,350,000. Nine months later, in April of 2017, it had its first price reduction to $1,295,000. Three months later, in July of 2017. the price was dropped to $1,250,000. September of 2017 it was reduced again to $1,098,000. April of 2018 it was dropped to $995,000. January of this year it was dropped to $949,000. It went pending on July 15th. This is a dramatic example of price and terms being incorrectly calculated from the get go.