Tag: ARES

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Lake Oswego Market Activity ~ July 5-11, 2010

Lake Oswego had 23 New properties enter the market, 15 go to Pending status, and 5 Sold during last week’s Monday – Sunday period according to RMLS.

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

NEWLY LISTED (July 5-11, 2010)

Address List Price Total SF # Beds # Baths Prop Type
17 OSWEGO SMT $105,000 764 1 1 PUD
5225 JEAN RD $198,000 1500 3 2 CONDO
16200 PACIFIC HWY $204,900 1190 2 2 CONDO
18263 BENFIELD AVE $209,900 912 3 1 DETACHD
5524 BONITA RD $319,000 2752 3 1 DETACHD
14550 DORIS AVE $349,900 1474 3 1.1 DETACHD
5434 YORKSHIRE PL $369,900 2335 3 3 DETACHD
2000 GREENTREE RD $379,000 2548 3 2.1 DETACHD
2 BARTOK PL $395,000 2332 4 2.5 DETACHD
762 LAKE FOREST DR $454,000 2400 4 3 DETACHD
17760 OVERLOOK CIR $476,500 2357 4 3 DETACHD
4284 WESTBAY RD $525,000 1539 3 2 DETACHD
15 SCARBOROUGH DR $549,000 3310 4 3.1 DETACHD
3334 Upper DR $550,000 2500 4 2.1 DETACHD
3342 Upper DR $550,000 2500 4 1.2 DETACHD
8 CAMELOT CT $550,000 3084 5 3 DETACHD
4398 GLACIER LILY ST $550,000 2936 4 2.1 DETACHD
5434 ROSALIA WAY $559,000 2600 4 2.1 DETACHD
13074 ROGERS RD $629,000 2810 4 2.1 DETACHD
6479 SW MCDUFF CT $659,000 3054 3 2.1 DETACHD
3931 BASS LN $789,000 3310 4 3.1 DETACHD
691 CARRERA LN $899,900 3704 5 3.1 DETACHD
329 10TH ST $995,000 3595 4 2.2 DETACHD

PENDING SALES (July 5-11, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
16250 PACIFIC HWY $109,000 2 2 1311 CONDO 276
16200 PACIFIC HWY $199,000 2 2 1200 CONDO 276
26 CONDOLEA DR $199,900 2 2 1420 CONDO 131
16200 PACIFIC HWY $209,000 2 2 1208 CONDO 878
16200 PACIFIC HWY $209,000 2 2 1200 CONDO 276
16200 PACIFIC HWY $239,000 2 2 1208 CONDO 878
330 6TH ST $249,950 1 1 1120 DETACHD 5
1694 FIRCREST CT $274,900 3 2.1 2015 DETACHD 198
6338 WASHINGTON CT $329,900 3 1 1558 DETACHD 128
675 10TH ST $430,000 4 2 2280 DETACHD 427
5580 KILCHURN AVE $549,900 4 2.1 2286 DETACHD 12
5722 CHARLES CIR $569,900 4 2.1 2674 DETACHD 69
2326 OSWEGO GLEN CT $997,500 4 4 4575 DETACHD 36
1097 CHANDLER RD $1,439,000 4 4.1 5313 DETACHD 42
1973 CHERYL CT $1,595,000 5 4.1 6436 DETACHD 53

SOLD (July 5-11, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
59 GALEN ST $99,000 $89,900 1 1 550 CONDO 97
18922 REDWING WAY $369,900 $349,900 4 2 2076 DETACHD 271
1158 BAYBERRY RD $649,000 $649,000 4 4 2386 DETACHD 10
731 F AVE $750,000 $655,000 4 2.1 2668 DETACHD 113
18735 BRYANT RD $1,079,900 $875,000 5 3.1 5323 DETACHD 59

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, July 11,2010

We have 32 properties on tour tomorrow in Lake Oswego. For you out-of staters… this will be a sunny Sunday with temperatures in the 80’s after our heatwave of 90’s & 100+ What a day for a stroll through some beautiful homes!
Here is what’s Open Sunday per RMLS:

Address L/Price # Beds # Baths Total SF Style Time
4057 JEFFERSON PKWY $224,900 3 2.1 1460 TOWNHSE 1-4PM
29 GREENRIDGE CT $249,000 3 2 1596 CONDO 1-4PM
139 TOUCHSTONE CT $279,900 2 2.1 1846 TOWNHSE 1-3PM
6301 Alyssa TER $299,900 3 2.1 1546 TOWNHSE 11-1PM
5160 TUALATA LN $339,900 3 2 1470 DETACHD 1:30-3:30PM
4971 SUNTREE LN $378,000 3 2.1 1911 DETACHD 1-4PM
231 LAUREL ST $400,000 3 3 2244 DETACHD 1-3PM
1462 GREENTREE CIR $419,900 4 2.1 2507 DETACHD 1-4PM
13455 AUBURN CT $440,000 3 2.1 1892 DETACHD 12-1:55PM
1899 WOODLAND TER $479,000 5 3.1 3031 DETACHD 1-4PM
975 SOUTHSHORE BLVD $479,900 3 2.1 2118 DETACHD 2-4PM
19415 SW DOGWOOD CT $529,900 5 3 3517 DETACHD 1-5PM
15 SCARBOROUGH DR $549,000 4 3.1 3310 DETACHD 12-3PM
33 MORNINGVIEW CIR $549,900 3 2.1 2737 DETACHD 2-4PM
10 SCARBOROUGH DR $575,000 4 3 3537 DETACHD 1-3PM
4 NANSEN SUMMIT $599,000 4 2.1 3257 DETACHD 1-4PM
8 DEL PRADO ST $599,950 5 3 3637 DETACHD 2:05-4PM
5705 SOUTHWOOD DR $639,900 3 2.1 3372 DETACHD 12-3PM
1015 SOUTHSHORE BLVD $755,000 4 3 3542 DETACHD 12-2PM
18955 BRYANT RD $799,900 4 2.1 3660 DETACHD 12-3PM
3030 WESTVIEW CT $829,000 4 2.1 3415 DETACHD 2-4PM
17884 KELOK RD $848,900 5 3.1 4124 DETACHD 2-4PM
17896 KELOK RD $848,900 5 5 4323 DETACHD 2-4PM
1015 ANDREWS RD $875,000 4 3 3367 DETACHD 1:30-3:30PM
3155 DOUGLAS CIR $985,000 5 3.2 4517 DETACHD 1-4PM
18209 SIENA DR $1,097,000 5 3.1 3839 DETACHD 1-3PM
18246 BELLA TERRA DR $1,194,000 4 3.1 4196 DETACHD 1-3PM
18143 SIENA DR $1,197,000 5 4.1 4152 DETACHD 1-3PM
1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 1-3PM
4700 SW DOGWOOD DR $1,499,900 5 3.1 5401 DETACHD 2:30-4PM
3700 UPPER DR $1,595,000 4 3.1 5191 DETACHD 1-4PM
2572 GLEN EAGLES PL $2,185,000 5 4.2 6490 DETACHD 1-3PM
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Market Activity for June 28 to July 4, 2010

Here in Lake Oswego last week the real estate market had 18 new listings, 15 pending sales, and 15 closed sales.
Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (June 28-July 4, 2010)

Address List Price BR BATHS SF Prop Type
3930 LAKE GROVE AVE $122,000 2 1 952 CONDO
4000 CARMAN DR $122,500 1 1 836 CONDO
4000 CARMAN DR $129,000 2 2 834 CONDO
86 KINGSGATE RD $130,000 2 2 849 CONDO
15209 QUARRY RD $174,900 2 1 1,210 DETACHD
668 MCVEY AVE $185,000 1 1 636 CONDO
18305 FERNBROOK CT $299,999 3 2 1,500 DETACHD
4201 COLLINS WAY $307,500 3 2 1,230 DETACHD
1228 MAPLE ST 399000 3 2 1,894 DETACHD
17055 CRESTVIEW DR 479900 5 3 2,575 DETACHD
730 SW BRIERCLIFF LN 495000 5 3 3275 DETACHD
5580 KILCHURN AVE 549900 4 2 + .5 2,286 DETACHD
18006 GIMLEY CT 549900 5 4 3225 DETACHD
12 SCARBOROUGH DR 574900 4 2 + .5 2,892 DETACHD
611 IRON MOUNTAIN BLVD 575000 2 1 1,322 DETACHD
18212 WESTVIEW DR 598900 4 2 + .5 3464 DETACHD
17874 BLUE HERON WAY 599900 4 4 3,200 DETACHD
17618 CRESTLINE DR 1575000 4 3 + .5+.5 4,666 DETACHD

PENDING SALES (June 28-July 4, 2010)

Address SPID List Price SQ feet BR BATHS Prop Type CDOM
47 EAGLE CREST DR $74,100 1009 2 1 CONDO 104
222 RIDGEWAY RD $125,000 756 1 1 CONDO 13
4372 WOODSIDE CIR $219,000 1178 2 2 ATTACHD 165
16200 PACIFIC HWY $230,000 1208 2 2 CONDO 120
1005 SOUTHSHORE BLVD $249,900 2196 4 2 DETACHD 74
139 TOUCHSTONE CT $279,900 1846 2 2 + .5 ATTACHD 11
4321 WOODSIDE CIR $289,000 1532 3 2 ATTACHD 14
406 8th ST $315,000 2437 3 1 + .5 DETACHD 323
595 6TH ST 349000 893 2 2 DETACHD 3
5 EL GRECO ST 479000 2455 4 2 + .5 DETACHD 7
444 6TH ST 899000 4541 4 4 + .5 DETACHD 213
245 CHANDLER PL 950000 3733 4 2 +.5+.5 DETACHD 6
1425 CHANDLER RD 978000 3384 4 3 DETACHD 43
18820 GREENBLUFF DR 1395000 5382 4 4 + .5 DETACHD 99
13777 Cameo CT 1550000 7300 4 5 + .5 DETACHD 570

SOLD (June 28-July 4, 2010)

Address Orig/Price Close/Price CDOM SQ FT Prop Type BR BATHS
3433 SW MCNARY PKWY $153,000 $120,000 98 1,008 CONDO 2 2
100 LEONARD ST $184,900 $175,000 164 1,364 CONDO 2 2
13 ERASMUS ST $214,500 $210,000 45 1,414 ATTACHD 2 2.5
4610 LAMONT WAY $247,500 $232,500 17 1,750 DETACHD 3 2
17141 SW BRYANT RD $364,900 $317,000 307 1,228 DETACHD 3 2
454 5TH ST $350,000 $350,000 156 1,092 ATTACHD 2 1.5
15547 PARTRIDGE DR $389,900 $390,000 214 2,266 DETACHD 3 2.5
12409 SHELBY CT $449,900 $428,000 12 2,238 DETACHD 3 2
676 9TH ST $525,000 435,000 327 1,850 DETACHD 2 1
15266 CANDLEWOOD CT $464,988 455,000 88 2,569 DETACHD 4 2.5
13460 SNOWBERRY CT $582,500 525,000 61 3,327 DETACHD 3 2.5
15422 BOONES WAY $798,000 675,000 645 2,586 ATTACHD 4 2.5
17212 CHAPIN WAY $850,000 725,000 314 2,541 DETACHD 3 2.5
1580 BONNIEBRAE DR $849,000 840,000 50 3,800 DETACHD 4 3
1340 CHERRY LN $1,348,000 1,200,000 5 5,922 DETACHD 4 4.2

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 and Happy 4th of July

Along with a few open houses, this Sunday will bring us Lake Oswego’s annual 4th of July festivities:

  • 7am to noon, Lake Oswego Lion’s Club Pancake Breakfast.  George Roger’s Park. $6 for adults and $4 for children, in includes pancakes, sausage, coffee, orange juice and milk.
  • 1pm, Star Spangled Parade, A Avenue to Millennium Plaza.  Wear your patriotic colors, decorate your wagons, and march in the parade!  Led by an authentic Fife and Drum Band, the parade includes antique cars, veterans, boy scouts, bikes, strollers, pets—you name it.
  • 1pm, boat parade on Lakewood Bay
  • 1:15 to 5pm, Centennial Star Spangled Celebration at Millennium Park, includes presentation of colors, a chicken barbeque (put on by Lake Grove Lions) face painting, Fife and Drum performance, and live music, including Huge Sally and Southern Nights.
  • 9:45, The Annual fireworks Display will be held over Oswego Lake.  Fireworks are shot off from a barge on the lake.  Best viewing is from Lake Grove Swim Park on Lakeview Blvd between Southshore and Summit.  Arrive early to get best viewing and to find parking.  Remember that most roads around the lake are closed or have limited access during the fireworks display, so plan accordingly.

Here are Sunday’s Open Houses, according to the RMLS:

Address List Price Sq Feet BR BATHS Prop Type Open
18222 SIENA DR $1,088,000 3800 6 4 + .5 DETACHD 1 to 3
18209 SIENA DR $1,097,000 3839 5 3 + .5 DETACHD 1 to 3
18246 BELLA TERRA DR $1,194,000 4196 4 3 + .5 DETACHD 1 to 3
18143 SIENA DR $1,197,000 4152 5 4 + .5 DETACHD 1 to 3
1808 RIDGE POINTE DR $1,269,000 4155 5 4 + .5 DETACHD 1 to 3

Have a safe and happy 4th of July!

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Lake Oswego’s Poet: William Stafford

Every community looks to find it’s claim to fame and Lake Oswego’s, beside beautiful homes and top-notch schools, can be found in one of its most famous residents, William Stafford.

William Stafford, born in 1914, lived in Lake Oswego from 1957 until his death in 1993. He was a professor of English at Lewis and Clark College and was world renowned as a poet. In 50 years of writing poetry, which he didn’t begin doing until his 40’s, he is estimated to have written 22,000 poems of which 3,000 were published. In 1970 he was named Consultant in Poetry to the Library of Congress, a position that today would be the equivalent of being the U.S. Poet Laureate. In 1975 he was named the Poet Laureate for the State of Oregon.

You will find tributes to William Stafford throughout Lake Oswego. In the various parks around town you will find inscriptions of his poems, a walkway named after him, and lovely renderings that pay tribute to his creative genius. I am a huge fan of his work. Absolutely one of my favorite places is the William Stafford path in Foothills Park that culminates in the stone circle that bears his work.

Today I want to introduce you to William Stafford and share with you a few of his poems:

Why I Am Happy

Foothills Park, William Stafford Path

Now has come, an easy time. I let it
roll. There is a lake somewhere
so blue and far nobody owns it.
A wind comes by and a willow listens
gracefully.

I hear all this, every summer. I laugh
and cry for every turn of the world,
its terribly cold, innocent spin.
That lake stays blue and free; it goes
on and on.

And I know where it is.

Little Rooms
I rock high in the oak-secure, big branches-
at home while darkness comes. It gets lonely up here
as lights needle forth below, through airy space.
Tinkling dishwashing noises drift up, and a faint
smooth gush of air through leaves, cool evening
moving out over the earth. Our town leans farther
away, and I ride through the arch toward midnight,
holding on, listening, hearing deep roots grow.

There are rooms in a life, apart from others, rich
with whatever happens, a glimpse of moon, a breeze.
You who come years from now to this brief spell
of nothing that was mine: the open, slow passing
of time was a gift going by. I have put my hand out
on the mane of the wind,

William Stafford thoughts

to give it to you.

And, finally, my favorite:
The Way It Is
There’s a thread you follow. It goes among
things that change. But it doesn’t change.
People wonder about what you are pursuing.
You have to explain about the thread.
But it is hard for others to see.
While you hold it you can’t get lost.
Tragedies happen; people get hurt
or die; and you suffer and get old.
Nothing you do can stop time’s unfolding.
You don’t ever let go of the thread.

Thanks for letting me share William Stafford with you. I hope you enjoy his work as much as I do.
Dianne

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Lake Oswego Open Houses ~ Sunday, June 27,2010

There are 36 Lake Oswego properties Open for your pleasure Sunday according to RMLS. Enjoy!

Address L/Price # Beds # Baths Total SF Prop Type Open
1400 BONNIEBRAE DR $179,500 2 1 864 ATTACHD 1-3PM
16231 PARKER RD $260,000 3 1 1381 DETACHD 1-4PM
139 TOUCHSTONE CT $279,900 2 2.1 1846 ATTACHD 1-3PM
37 BLOCH TER $314,500 3 2.1 1972 ATTACHD 1-3PM
65 GREENRIDGE CT $319,000 2 2 1314 ATTACHD 1-3PM
466 5TH ST $339,900 2 1.1 1092 ATTACHD 1-3PM
5160 TUALATA LN $339,900 3 2 1470 DETACHD 1:30-3:30PM
4971 SUNTREE LN $378,000 3 2.1 1911 DETACHD 1-4PM
692 2ND ST $379,000 3 1 1700 DETACHD 1-3PM
18651 DON LEE WAY $384,900 4 2 1630 DETACHD 1-3PM
1641 ASH ST $419,950 4 3 2825 DETACHD 1-3PM
17681 LEAFY LN $449,000 4 3 2242 DETACHD 12-2PM
17640 TREETOP WAY $498,900 4 3 2718 DETACHD 1-3PM
19319 SW DOGWOOD CT $519,900 5 2.1 3105 DETACHD 1-5PM
19415 SW DOGWOOD CT $529,900 5 3 3517 DETACHD 1-5PM
1060 UPPER DEVON LN $539,000 3 2.1 2400 DETACHD 2-4PM
2 MORNINGVIEW CIR $549,000 3 2.1 2954 DETACHD 1-3PM
19451 SW DOGWOOD CT $559,900 6 3 3547 DETACHD 1-5PM
4 INDEPENDENCE AVE $564,900 4 3.1 3482 DETACHD 2-4PM
5722 CHARLES CIR $569,900 4 2.1 2674 DETACHD 2-4PM
19245 SW MEGLY CT $584,900 5 3 3490 DETACHD 1-5PM
13265 FOX RUN $680,000 3 2.2 2614 DETACHD 1-3PM
17110 LOWENBERG TER $799,000 4 2.1 2732 DETACHD 3-5PM
144 LEONARD ST $799,000 4 3.1 3451 DETACHD 11-1PM
3030 WESTVIEW CT $824,000 4 2.1 3415 DETACHD 11-1PM
17288 LOWENBERG TER $829,900 4 3.1 3467 DETACHD 3-5PM
17154 LOWENBERG TER $842,900 5 3.1 3476 DETACHD 3-5PM
444 6TH ST $899,000 4 4.1 4541 DETACHD 2-4PM
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
18143 SIENA DR $1,197,000 5 4.1 4152 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
3151 DOUGLAS CIR $1,349,000 5 4.2 4400 DETACHD 1-4PM
4700 SW DOGWOOD DR $1,499,900 5 3.1 5401 DETACHD 2:30-4PM
2572 GLEN EAGLES PL $2,185,000 5 4.2 6490 DETACHD 1-3PM
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Open Houses for Sunday, June 20th, 2010

For your Father’s Day enjoyment, there will be 17 Open Houses here in Lake Oswego:

Address List Price Year Built # BR # BTHS Prop Type Open
44 EAGLE CREST DR $99,900 1979 2 1 CONDO 1 to 4
12847 SW 61ST AVE $304,950 1977 3 2 DETACHD 1 to 4
37 BLOCH TER $314,500 1972 3 2 +.5 ATTACHD 1 to 3
17683 ARBOR LN $339,900 1978 3 2 DETACHD 1 to 3
95 TANGLEWOOD DR $429,900 1972 4 3 DETACHD 1 to 4
13455 AUBURN CT $440,000 2005 3 2 + .5 ATTACHD 11:30 to 2
19319 SW DOGWOOD CT $519,900 2010 5 2 + .5 DETACHD 12 to 5
19415 SW DOGWOOD CT $539,900 2010 5 3 DETACHD 12 to 5
19451 SW DOGWOOD CT 559900 2010 6 3 DETACHD 12 to 5
19245 SW MEGLY CT 584900 2010 5 3 DETACHD 12 to 5
19101 INDIAN CREEK AVE 599900 1972 2 2 + .5 DETACHD 12 to 3
18222 SIENA DR 1088000 2010 6 4 + .5 DETACHD 2:30 to 4:30
18209 SIENA DR 1178950 2009 5 3 + .5 DETACHD 2:30 to 4:30
18143 SIENA DR 1197000 2009 5 4 + .5 DETACHD 2:30 to 4:30
1808 RIDGE POINTE DR 1269000 2010 5 4 + .5 DETACHD 2:30 to 4:30
18246 BELLA TERRA DR 1294000 2009 4 3 + .5 DETACHD 2:30 to 4:30
2569 GLEN EAGLES PL 1349000 2010 5 4 +.5+.5 DETACHD 1 to 4
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Analyzing Market Trends

Foothills Park, Lake Oswego, Oregon

I think the most common question I am asked is “How’s business?”, which I think really means “What’s the market doing?”  In my circle of friends, homeownership is the norm.  And in today’s economy, everyone is hoping that their home is holding it’s value.  For my clients, they are wanting me to give them insight into the buying/selling climate.  So staying on top of trends is pretty critical.  Today I am going to break down the Lake Oswego market and give you some specifics.

First, some good news:  Lake Oswego, according to the latest market action report from the RMLS, has done the second best job of holding value in the metro area comparing May of  ’09 to May of ’10.  Values are down in Lake Oswego, year over year, 7.8%.  The only part of the metro area that did better was North Portland with a loss of 6.3%.  The worst faring area was Yamhill County, which is down 13%.  Wow, did I really just call that good news?  We are down 7.8%!  Perhaps the better way to see it is that this is less bad news than it could have been.

The average sales price in area 147, which is Lake Oswego and West Linn combined, is $443,500.  The total days on the market is averaging 153 days.

I think it is important to do this analysis by price range.  Watching our weekly market action reports, it is pretty obvious that the houses priced in the less expensive range, such as $600,000 or less, are selling much more actively than the houses in the higher prices.  Here is a breakdown by price:

Price Currently for Sale Sold in Last 6 Months # Per Month Length of Inventory
$1,000,000 + 105 15 3 42 months
$900,000-$1,000,000 19 4 1 28 months
$800,000-$900,000 50 6 1 50 months
$700,000-$800,000 42 12 2 21 months
$600,000-$700,000 53 21 4 15 months
$500,000-$600,000 74 35 6 12 months
$400,000-$500,000 79 43 7 11 months
$300,000-$400,000 60 60 10 6 months
$200,000-$300,000 29 36 6 4 months
$100,000-$200,000 3 2 0 9 months

At a glance, the idea is that the lower the length of inventory, the stronger that part of the market is. And that makes it easy to see that the lower the price on the house, the stronger the market. There are also two surprising quirks. Notice that the market inventory is actually worse in the $800,000-$900,000 price range than it is in the houses priced at $1,000,0000+. Why? I am thinking that part of the market is competing with the houses that are at $1,000,000 plus and that when buyers get up that high in price, it is still easy to justify pushing the purchase up just a bit more to get what they really want. In other words, there still is not enough of a value difference at $800,000 vs $1,000,000. However, that idea is just my speculation. I also think at $800,000 you are seeing a lot of older homes. They do have a hard time competing against the newer homes, which there are lots of, that have the soaring ceilings and palatial kitchens and baths. Second, the houses priced under $200,000 just aren’t selling fast either. I am quite certain that this is because at that price the house is pretty much a tear down and in such rough shape that the value is in the land. That means the buyer is going to be a builder and the builders are still sitting on so much inventory that they aren’t buying up the land.

I also have to say that the market is very balanced between buyers and sellers in the homes valued $300,000-$400,000 and even up into $400,000-$500,000. This part of the market is moving well with homes coming onto the market and selling respectably within reasonable periods of time. If you are buying in this part of the market, and the house is in nice condition, be aware of values. If it’s priced right, it’s going to sell and your buying power is not as strong as it would be in the higher price ranges.

And for those of you in the upper pricing, you are still in a very strong buyer’s market. Sellers are still competing with way too many other houses. You should be able to negotiate hard on price and terms.

Affordable Houses: LO vs Sellwood
I periodically like to compare affordable houses in Lake Oswego to the same houses in Sellwood, a neighborhood I used to live in not too far away in SE Portland. I like to do this because I remain convinced that Lake Oswego is often overlooked by buyers who are seeking affordable housing. This is because of LO’s reputation as a wealthy community. Time and again I have been able to prove that there are more homes to choose from in LO than in Sellwood that are affordable. Today is no different. Affordable, by my definition, are homes price below $350,000.

As of today, there are currently 61 homes for sale in Lake Oswego priced below $350,000. The least expensive is a 3 bedrooms, 1.5 bath house with 1000 square feet and a single car garage that was built in 1957. It is actually in pretty nice condition,although close to I-5, and it is priced at $189,000. In Sellwood there are 19 houses priced under $350,000. The least expensive is a 2 bedroom, 1 bath house with a single car garage that was built in 1920. It has 838 square feet + 810 square feet in an unfinished basement. It’s priced at $234,500.

I think the most burning question today is what is going to happen to the market now that the tax credit is over. I do think that there was a huge boost in the market by people trying to get into escrow by the end of April. I also know that May was slow for me, as far as new business. However, June has got my phone ringing and I am very busy. So my personal observation is that our normal spring/summer upswing is happening. Time will tell.

Yours, Dianne

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Lake Oswego Open Houses ~ Sunday, June 13, 2010

Enjoy this gorgeous Rose Festival Weekend, and add Home Shopping to your agenda with 33 properties open for your viewing pleasure on Sunday.

Here are the Open Houses according to RMLS:

Address L/Price # Beds # Baths Total SF Prop Type Time
1684 BOCA RATAN DR $248,900 3 2 1611 TWNHSE 1-3PM
19167 LONGFELLOW AVE $269,000 3 2.1 1782 DETACHD 1-6PM
16711 MELLON AVE $309,900 3 2 1346 DETACHD 1-3PM
18238 TERRY AVE $350,000 3 2.1 1604 DETACHD 12-2PM
5160 TUALATA LN $354,900 3 2 1470 DETACHD 1:30-4PM
5160 TUALATA LN $354,900 3 2 1470 DETACHD 1:30-4PM
5324 LOWER DR $370,000 3 2.1 2034 DETACHD 12-2PM
19026 INDIAN SPRINGS RD $385,000 5 3 2471 DETACHD 10AM-2PM
5827 BONITA RD $399,900 3 2 1771 DETACHD 2-4PM
5364 ROSEWOOD ST $401,500 4 2.1 1980 DETACHD 1-3PM
17460 SCHALIT WAY $418,900 4 3 2197 DETACHD 1-4PM
2697 LOOKOUT CT $429,000 3 2 2219 DETACHD 10-11:30AM
662 CLARA CT $429,900 3 3 2740 DETACHD 4-6PM
1462 GREENTREE CIR $435,000 4 2.1 2507 DETACHD 1-4PM
1970 GREENTREE RD $450,000 4 3 2428 DETACHD 1-4PM
2705 ORCHARD HILL LN $469,900 4 2.1 2841 DETACHD 1-4PM
17640 TREETOP WAY $498,900 4 3 2718 DETACHD 2:30-4PM
5008 HAMPTON CT $529,000 3 2.1 2346 DETACHD 12-2PM
19415 SW DOGWOOD CT $539,900 5 3 3517 DETACHD 12-5PM
19451 SW DOGWOOD CT $559,900 6 3 3547 DETACHD 12-5PM
33 MORNINGVIEW CIR $574,900 3 2.1 2737 DETACHD 2-4PM
4070 VIRGINIA WAY $725,000 3 2.1 3510 DETACHD 1-3PM
5 CELLINI CT $735,000 5 3.1 4895 DETACHD 1-3PM
1930 INDIAN TRL $829,500 3 3 3260 DETACHD 1-3PM
3030 WESTVIEW CT $844,500 4 2.1 3415 DETACHD 11-1PM
18209 SIENA DR $1,178,950 5 3.1 3839 DETACHD 12-2PM
18143 SIENA DR $1,197,000 5 4.1 4152 DETACHD 21-2PM
1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 21-2PM
2569 GLEN EAGLES PL $1,349,000 5 4.2 4591 DETACHD 1-4PM
4700 SW DOGWOOD DR $1,499,900 5 3.1 5401 DETACHD 2:30-4PM
1790 Skyland DR $1,599,000 5 4.1 6033 DETACHD 1-3PM
14242 BRIDGE CT $1,999,950 5 4.2 6139 DETACHD 2-4PM
2572 GLEN EAGLES PL $2,285,000 5 4.2 6490 DETACHD 1-3PM
Posted on

Market Activity for May 31 to June 6, 2010

Last week found 16 new listings, 13 pending sales, and 7 closed sales. I would have to say that it was a bit of a celebration week for many of the sellers who closed transactions. This group of homes included quite a few that had been on the market for an extremely long time. It is good that they were sold, finally. And the closed selling prices were certainly reflective of the new reality with values. I feel that is further reflected in the pricing with the new listings, many of which look to be really good values.

Here is last week’s report: (see below the tables for additional notes):

NEWLY LISTED (May 32-June 6, 2010)

Address List Price Year Built Total SF Prop Type BR & BTH
37 CRESTFIELD CT $94,900 1980 923 CONDO 2 & 1
200 BURNHAM RD $219,000 1966 1,173 CONDO 2 & 2
74 GREENRIDGE CT $289,900 1973 2,868 ATTACHD 3 & 2.5
37 BLOCH TER $314,500 1972 1,972 ATTACHD 3 & 2.5
19431 TUALAMERE AVE $334,000 1964 1,308 DETACHD 3 & 1.5
16725 CARNEGIE AVE $335,000 1968 2,134 DETACHD 3 & 2
1018 HEMLOCK ST $349,900 1965 1,950 DETACHD 4 & 2
1621 LARCH ST $399,900 1971 3,040 DETACHD 3 & 2.5
17387 CANYON DR 479000 1966 1,955 DETACHD 3 & 2.5
1740 YARMOUTH CIR 550000 1985 1,960 DETACHD 2 & 2.5
4 INDEPENDENCE AVE 564900 1969 3,482 DETACHD 4 & 3.5
13596 STREAMSIDE DR 649999 1989 3,430 DETACHD 3 & 2.5
712 LAKE FOREST DR 665000 1949 1,640 DETACHD 2 & 2
15725 TARA PL 665000 2006 3,372 DETACHD 4 & 2.5
14370 PFEIFER DR 669000 1993 3,318 DETACHD 3 & 2.5
144 LEONARD ST 799000 2004 3,451 DETACHD 3 & 1.5+.5

PENDING SALES (May 31-June 6, 2010)

Address List Price Year Built Total SF Prop Type BR & BTH
34 CONDOLEA DR $219,000 1978 1,420 CONDO 2 & 2
12 POLONIUS ST $246,600 1971 3,275 DETACHD 4 & 2.5
4236 HARVEY WAY $359,000 1979 1,870 DETACHD 3 & 2.5
15580 PARTRIDGE DR $360,000 1989 2,245 DETACHD 3 & 2.5
2031 LILLI LN $499,000 1968 3,262 DETACHD 3 & 3.5
17471 CARDINAL DR $545,000 1973 3,056 DETACHD 4 & 2.5
13460 SNOWBERRY CT $564,000 1989 3,327 DETACHD 3 & 2.5
731 F AVE $699,900 1998 2,668 DETACHD 4 & 2.5
331 CHANDLER PL 810000 1962 2,428 DETACHD 4 & 2.5
1580 BONNIEBRAE DR 849000 1972 3,800 DETACHD 4 & 3
3820 SOUTHSHORE BLVD 925000 2008 4,855 DETACHD 5 & 4
3140 DOUGLAS CIR 950000 2004 4,310 DETACHD 4& 3.5
1340 CHERRY LN 1348888 2007 5,922 DETACHD 4 &4.5+.5

SOLD (May 31-June 6, 2010)

Address Closed Price Original Price Year Built Total SF Prop Type CDOM
775 BOCA RATAN DR $155,000 $204,750 1975 2,401 DETACHD 249
200 BURNHAM RD $168,000 $298,850 1962 1,328 CONDO 942
1597 BONNIEBRAE DR $180,000 $230,000 1969 998 ATTACHD 261
1640 WORTHINGTON ST $338,900 $515,000 1961 2,394 DETACHD 473
3075 ROYCE WAY $392,000 $699,850 1975 3,667 DETACHD 577
2109 WEMBLEY PARK RD $640,000 $649,900 1955 3,129 DETACHD 2
17540 RIDGEVIEW LN $1,025,000 $1,350,000 2006 4,345 DETACHD 316

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.