The City of Lake Oswego is mourning the unexpected passing of it’s beloved Police Chief, Dan Duncan. There will be a memorial service June 4th, 1:00PM at the Rolling Hills Community Church. Flags in the city will be at half-mast from now until that date. His family has set up a Memorial Site with photos and information. Well-wishers may leave messages there for them.
The Willamette Shore Trolley is up & running! This has been one of my favorite things to do with visitors to Lake Oswego for many, many years. I have photos of beloved family members and I enjoying the ride to & from Portland that I will always cherish. Make your own memories as the train winds along the waterfront & through the trees & neighborhoods that line this historic passage between the two cities. This route is also the one being considered for a possible streetcar! For a schedule of times & fares call 503 697 7436, or visit the Website.
The latest Market Activity Report for Portland Metro produced by RMLS shows the following data:
- Comparing April 2010 with April 2009: Closed Sales increased 49.1%, and Pending Sales rose 60.8% with New Listings going up by 23.8%
- When comparing April 2010 with March 2010, the average sale price rose just 0.6%
- Comparing January – April 2010 with the same period in 2009, Closed Sales increased 41.4%, with Pending Sales rising by 46.3% and New Listings by 15.4%
- April’s Total Market Time for Portland Metro was: 127 days
- Lake Oswego and West Linn’s Total Market Time was: 147 days
- Lake Oswego and West Linn’s Average Sales Price (RMLS lumps the two areas together) was $502,800.
- Lake Oswego and West Linn posted 101 Closed Sales in April with 1066 Active Listings
- Lake Oswego and West Linn saw a 113.8% increase in Pending Sales April 2010 compared to April 2009
Market Activity for May 17-23, 2010
The housing market in Lake Oswego included 19 new listings, 15 pending sales, and 14 closed sales. You will probably notice some categories moved/missing/changed. Linda and I use a macro in excell to develop these charts. RMLS has made technical changes that are affecting our macro, which we need to re-work. Thanks for your patience while we get the kinks ironed out. I think the basic data is here.
Here is your weekly update (see below the tables for additional notes):
NEWLY LISTED (May 17—23, 2010)
| Address | List Price | # BR | SF Up+Mn | Prop Type | |||
| 322 CERVANTES CIR | $85,000 | 2 | 832 | CONDO | |||
| 512 S STATE ST | $129,900 | 1 | 829 | CONDO | |||
| 668 MCVEY AVE | $149,000 | 2 | 976 | CONDO | |||
| 16515 INVERURIE RD | $299,000 | 3 | 1,772 | DETACHD | |||
| 16808 INVERURIE RD | $299,900 | 3 | 1,182 | DETACHD | |||
| 14372 CAMDEN LN | $448,500 | 3 | 2,348 | DETACHD | |||
| 1462 GREENTREE CIR | $449,900 | 4 | 2,507 | DETACHD | |||
| 8 MORNINGVIEW CIR | $529,900 | 3 | 2,217 | DETACHD | |||
| 230 4TH ST | 619900 | 3 | 2,165 | DETACHD | |||
| 13265 FOX RUN | 680000 | 3 | 2,614 | DETACHD | |||
| 17632 WOODHURST PL | 699900 | 5 | – | DETACHD | |||
| 17970 ROYCE WAY | 799000 | 4 | 2,713 | DETACHD | |||
| 19000 BRYANT RD | 965000 | 5 | 5,874 | DETACHD | |||
| 1425 CHANDLER RD | 978000 | 4 | 2,204 | DETACHD | |||
| 1235 CHANDLER RD | 985000 | 5 | 2,044 | DETACHD | |||
| 17301 BERGIS FARM DR | 1060000 | 4 | – | DETACHD | |||
| 2569 GLEN EAGLES PL | 1349000 | 5 | 4,591 | DETACHD | |||
| 13900 GOODALL RD | 1600000 | 5 | 4,282 | DETACHD | |||
| 1973 CHERYL CT | 1695000 | 5 | 4,396 | DETACHD |
PENDING SALES (May 17-23, 2010)
| Address | List Price | # BR | Sq Ft | SF Up+Mn | Prop Type | CDOM | ||
| 100 KERR PKWY | $77,500 | 2 | 823 | 823 | CONDO | 66 | ||
| 100 KERR PKWY | $92,500 | 2 | 823 | 823 | CONDO | 27 | ||
| 3433 SW MCNARY PKWY | $123,900 | 2 | 1008 | 1,008 | CONDO | 98 | ||
| 32 CERVANTES CIR | $129,500 | 2 | 1092 | 912 | CONDO | 160 | ||
| 136 TOUCHSTONE TER | $279,000 | 3 | 1996 | 1,198 | DETACHD | 243 | ||
| 729 3RD ST | $295,000 | 4 | 1671 | 1,671 | DETACHD | 10 | ||
| 4313 ALBERT CIR | $367,900 | 3 | 1790 | 1,790 | DETACHD | 14 | ||
| 1255 BAYBERRY RD | $375,000 | 3 | 1901 | 1,901 | DETACHD | 253 | ||
| 1400 LEE ST | 421500 | 4 | 2804 | 1,514 | DETACHD | 146 | ||
| 24 PARTRIDGE LN | 449000 | 4 | 3224 | 3,224 | DETACHD | 40 | ||
| 675 10TH ST | 490000 | 4 | 2280 | 1,272 | DETACHD | 374 | ||
| 14158 KIMBERLY CIR | 530000 | 5 | 3548 | 3,648 | DETACHD | 18 | ||
| 1158 BAYBERRY RD | 649000 | 4 | 2386 | 2,386 | DETACHD | 10 | ||
| 1703 VILLAGE PARK LN | 749000 | 3 | 3450 | 3,450 | DETACHD | 156 | ||
| 1414 COUNTRY COMMONS | 945000 | 4 | 5679 | 3,082 | DETACHD | 68 |
SOLD (May 17-23, 2010)
| Address | Closed Price | Original Price | #BR | Sq Ft | Prop Type | CDOM | ||
| 65 OSWEGO SMT | $118,000 | $129,900 | 2 | 1,140 | CONDO | 8 | ||
| 5051 FOOTHILLS DR | $169,900 | $210,000 | 2 | 991 | CONDO | 248 | ||
| 750 1ST ST | $178,000 | $195,000 | 2 | 1,350 | CONDO | 73 | ||
| 5056 FOOTHILLS DR | $257,000 | $299,900 | 2 | 1,252 | CONDO | 194 | ||
| 19032 KRISTI WAY | $262,000 | $259,900 | 2 | 1,390 | DETACHD | 7 | ||
| 4420 GOLDEN LN | $295,000 | $279,900 | 3 | 2,165 | CONDO | 391 | ||
| 119 3RD ST | $350,000 | $429,900 | 3 | 1,204 | CONDO | 187 | ||
| 5299 LAKEVIEW BLVD | $365,000 | $399,900 | 4 | 2,165 | DETACHD | 594 | ||
| 2440 OVERLOOK DR | $480,000 | $525,000 | 4 | 3,874 | DETACHD | 36 | ||
| 815 COUNTRY COMMONS LN | $494,500 | $595,000 | 4 | 2,376 | DETACHD | 83 | ||
| 3115 ROSEMARY LN | $513,000 | $599,900 | 3 | 3,324 | DETACHD | 244 | ||
| 17388 CEDAR RD | $575,000 | $875,000 | 2 | 2,134 | DETACHD | 402 | ||
| 18125 WESTMINSTER DR | $658,000 | 699888 | 5 | 3,969 | DETACHD | 344 | ||
| 356 9TH ST | $1,070,000 | $1,275,000 | 4 | 3,647 | DETACHD | 98 |
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.
Open House in Lake Oswego for May 23rd
The RMLS is promoting 29 open houses for this Sunday. Enjoy!
| Address | List Price | Year Built | BR & BTH | Prop Type | Open | |||
| 1684 BOCA RATAN DR | $248,900 | 1969 | 3 & 2 | ATTACHD | 1 to 3 | |||
| 16535 ROOSEVELT AVE | $249,000 | 1953 | 3 & 2 | DETACHD | 1 to 3 | |||
| 2245 GLEN HAVEN RD | $348,500 | 1955 | 3 & 1.5 | DETACHD | 1 to 3 | |||
| 19242 TERRY AVE | $369,500 | 1965 | 4 & 2 | DETACHD | 2 to 4 | |||
| 231 LAUREL ST | $425,000 | 1956 | 3 & 3 | DETACHD | 1 to 3 | |||
| 71 TANGLEWOOD DR | $449,000 | 1972 | 3 & 3 | DETACHD | 1 to 3 | |||
| 1931 WOODLAND TER | $474,000 | 1968 | 4 & 3 | DETACHD | 1 to 4 | |||
| 5475 WILLOW CT | $474,900 | 2008 | 3 & 2.5 | ATTACHD | 1 to 3 | |||
| 17640 TREETOP WAY | 524000 | 1969 | 4 & 3 | DETACHD | 2 to 4 | |||
| 535 B AVE | 539000 | 1990 | 2 & 2.5 | ATTACHD | 12 to 2 | |||
| 5678 CHARLES CIR | 540000 | 1985 | 3 & 4 | DETACHD | 1 to 4 | |||
| 363 6TH ST | 549900 | 2009 | 3 & 3.5 | ATTACHD | 1 to 4 | |||
| 1060 UPPER DEVON LN | 559000 | 1974 | 3 & 2.5 | DETACHD | 1 to 3 | |||
| 17930 MEADOWLARK LN | 575000 | 1974 | 4 & 4 | DETACHD | 1 to 3 | |||
| 4 NANSEN SUMMIT | 599000 | 1982 | 4 & 2.5 | DETACHD | 3 to 5 | |||
| 18010 GIMLEY CT | 649000 | 1979 | 4 & 2.5 | DETACHD | 12 to 3 | |||
| 18606 WESTVIEW DR | 649900 | 1985 | 3 & 2.5 | DETACHD | 12 to 3 | |||
| 1015 SOUTHSHORE BLVD | 755000 | 1953 | 4 & 3 | DETACHD | 12 to 2 | |||
| 1687 VILLAGE PARK LN | 879000 | 1989 | 4 & 3 | DETACHD | 1 to 3 | |||
| 606 6TH ST | 789000 – 898876 | 1920 | 4 & 3 | DETACHD | 2 to 4 | |||
| 17896 KELOK RD | 929000 | 2010 | 5 & 5 | DETACHD | 2 to 4 | |||
| 18222 SIENA DR | 1088000 | 2010 | 6 & 4.5 | DETACHD | 1 to 3 | |||
| 18209 SIENA DR | 1178950 | 2009 | 5 & 3.5 | DETACHD | 1 to 3 | |||
| 18143 SIENA DR | 1197000 | 2009 | 5 & 4.5 | DETACHD | 1 to 3 | |||
| 1808 RIDGE POINTE DR | 1269000 | 2010 | 5 & 4.5 | DETACHD | 1 to 3 | |||
| 18246 BELLA TERRA DR | 1294000 | 2009 | 4 & 3.5 | DETACHD | 1 to 3 | |||
| 112 NORTHSHORE CIR | 1695000 | 1938 | 4 & 4.5+.5 | DETACHD | 1 to 3 | |||
| 15825 OSWEGO SHORE CT | 1985850 | 2006 | 4 & 3.5 | DETACHD | 1 to 3 | |||
| 2572 GLEN EAGLES PL | 2395000 | 2009 | 5 & 4.5+.5 | DETACHD | 1 to 3 |
Take good care of your credit
I suppose it is somewhat of a no-brainer that as a consumer you need to take good care of your credit, but if you are considering buying real estate, it is more important than ever. The days that qualified you to buy a home by merely having a pulse are long gone. Credit is more important than ever.
What is a FICO Score?
The FICO score was developed by The Fair Isaac Corporation in 1958. It is a statistical analysis of the likelihood of default. It has long been considered the most fair means of analyzing credit because it is purely about statistics with no consideration given for any personal matters such as sex, race, religion, etc. Mortgage lenders reliance on FICO Scores has gained in prominence and only looks to increase.
A FICO Score can be anywhere from 300-850. It is made up of the following considerations:
35% is payment history: do you pay your bills on time?
30% is ratio of available credit used: do you max out your credit cards?
15% is length of credit history.
10% is types of credit (having a variety of credit is good)
10% is recent credit inquiries
So it is more than simply paying your bills on time. If you want an 850 credit score, you certainly need to pay your bills on time, but you also need a variety of credit, not too much of it, that has low balances, that you have managed for years, and that you have not recently applied for. I have heard it said that the magic number of credit cards is 4, most with little or no balances. You do need to be using the credit. If you have 4 credit cards that you never use, it is not going to help you.
By law you are entitled to a free annual credit report. You can obtain one from each of the 3 credit bureaus by visiting AnnualCreditReport.com Because there are 3 credit bureaus, each with their own means of analysis, you will want to obtain copies of all 3 reports. If you see something strange on the report, you will also find links to managing your credit and fixing your credit.
Why FICO matters when you buy a house.
First, having a high credit score will allow you to obtain a lower interest rate on your mortgage. On a 30-year fixed mortgage of $300,000, a person with a FICO score of 760-850 will be able to obtain an interest rate of about 4.567% and that will make the payment $1532 per month. With a credit score of 620-639, that same 30-year mortgage would have an interest rate of 6.156% and a monthly payment of $1829 per month. That is a difference of $300! Yes, you will be rewarded for being financially strong.
Second, your credit is going to be checked more then once when you buy a house. According to a recent article by Kenneth Harney of the Washington Post, on June 1st,Fannie Mae will be requiring a second credit report be pulled just prior to close of escrow. This is to find out if anything has changed with the buyer’s credit since the loan was approved. If it has changed, then, poof, you could be kicked right out of closing and not be able to buy the house you want. This means that once you find a home and get your offer accepted, do not do anything to change your credit. Even making an inquiry for new credit could create disaster. Suppose you go to a furniture store and apply for a line of credit because you are dreaming of furnishing your new home? You don’t even have to make a purchase. Just having the extra credit available could affect your credit. While in escrow, make all payments on time, but make no credit applications, no purchases on credit, and no changes, no matter how small, to your credit situation. This is much more strict than I have ever seen. It is real. I had a closing postponed for 3 weeks while the buyer made a $500 payment on his credit card and we waited for the payment to be reflected in his FICO score with the 3 credit bureaus. I am also aware of 1 late payment on a credit card while in escrow that completely kicked the loan out of underwriting and the transaction sale failed.
Please let me know if you have any questions on this issue or if you need any help. I work with a couple of excellent lenders who are happy to take the time to help you build and repair your credit so that you can qualify for the house of your dreams.
Dianne
Market Activity Report for May 10-16, 2010
The housing market in Lake Oswego included 19 new listings, 11 pending sales, and 13 closed sales. You will probably notice some categories moved/missing/changed. Linda and I use a macro in excell to develop these charts. RMLS has made technical changes that are affecting our macro, which we need to re-work. Thanks for your patience while we get the kinks ironed out. I think the basic data is here.
Here is your weekly update (see below the tables for additional notes):
NEWLY LISTED (May 10—16, 2010)
| Address | List Price | Year Built | Sq. Ft. | Prop Type |
| 3433 MCNARY PKWY | $125,000 | 1994 | 1,136 | CONDO |
| 4 TOUCHSTONE | $179,000 | 1970 | 675 | CONDO |
| 18430 PILKINGTON RD | $259,000 | 1973 | 1,029 | DETACHD |
| 244 Greenridge DR | $319,000 | 1974 | 1,907 | ATTACHD |
| 5031 TUALATA LN | $329,000 | 1969 | 1,492 | DETACHD |
| 5973 KENNYCROFT WAY | $329,500 | 1962 | 1,202 | DETACHD |
| 5827 BONITA RD | $399,900 | 2002 | 1,771 | DETACHD |
| 16931 Bryant RD | $424,500 | 1930 | 1,767 | ATTACHD |
| 71 TANGLEWOOD DR | 449000 | 1972 | 2,616 | DETACHD |
| 13364 AUBURN CT | 450000 | 2005 | 2,371 | ATTACHD |
| 464 LIVINGOOD LN | 459995 | 1985 | 1,454 | DETACHD |
| 19451 SW DOGWOOD CT | 559900 | 2010 | 3,594 | DETACHD |
| 8 DEL PRADO ST | 599950 | 1972 | 1,877 | DETACHD |
| 4121 CHILDS RD | 789900 | 2006 | 3,352 | DETACHD |
| 11 HILLSHIRE DR | 825000 | 1990 | 3,415 | DETACHD |
| 3030 WESTVIEW CT | 859000 | 1969 | 2,635 | DETACHD |
| 490 COUNTRY CLUB RD | 900000 | 1938 | 2,240 | DETACHD |
| 2607 PALISADES CREST DR | 1000000 | 1981 | – | DETACHD |
| 2133 HAZEL RD | 1325000 | 2006 | 3,965 | DETACHD |
PENDING SALES (May 10-16, 2010)
| Address | List Price | Year Built | Sq. Ft. | Prop Type |
| 775 BOCA RATAN DR | $180,000 | 1975 | 2,401 | DETACHD |
| 1960 MAPLELEAF RD | $225,000 | 1965 | 1,210 | DETACHD |
| 729 3RD ST | $295,000 | 1948 | 1,671 | DETACHD |
| 666 3RD ST | $299,900 | 1948 | 953 | DETACHD |
| 18922 REDWING WAY | $369,900 | 1969 | 2,076 | DETACHD |
| 16044 INVERURIE RD | $399,000 | 1942 | 952 | DETACHD |
| 1025 C AVE | $408,950 | 1950 | 1,263 | DETACHD |
| 1055 COUNTRY CLUB RD | $449,000 | 1954 | 1,552 | DETACHD |
| 5711 SOUTHWOOD DR | 519000 | 1990 | 2,655 | DETACHD |
| 106 3RD ST | 649000 | 1957 | 1,495 | DETACHD |
| 17281 LOWENBERG TER | 839900 | 2009 | 2,996 | DETACHD |
SOLD (May 10-16, 2010)
| Address | Original Price | Sold Price | SF | Prop Type | CDOM |
| 8 OSWEGO SMT | $135,000 | $123,000 | 1140 | CONDO | 115 |
| 1137 SPRUCE ST | $258,900 | $254,900 | 1214 | DETACHD | 7 |
| 15256 BOONES WAY | $335,000 | $284,950 | 1600 | ATTACHD | 350 |
| 4774 OAKRIDGE RD | $339,000 | $332,500 | 2104 | DETACHD | 220 |
| 5 ORIOLE LN | $340,000 | $341,000 | 2024 | DETACHD | 14 |
| 4548 BLACK FOREST CT | $550,000 | $393,000 | 2157 | DETACHD | 644 |
| 4962 BILFORD LN | $439,000 | $405,000 | 2168 | DETACHD | 106 |
| 2251 PRESTWICK RD | $407,250 | $407,250 | 2236 | DETACHD | 3 |
| 531 2ND ST | $399,000 | $412,000 | 1393 | CONDO | 57 |
| 4705 LAKEVIEW BLVD | $529,900 | $510,000 | 2700 | DETACHD | 7 |
| 17644 WOODHURST PL | $629,900 | $550,000 | 4509 | DETACHD | 927 |
| 5245 LANGFORD LN | $719,000 | $709,000 | 2957 | DETACHD | 104 |
| 1224 TYNDALL CT | $849,000 | $779,000 | 4157 | DETACHD | 306 |
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.
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 |
News & Notes
Real Estate News ~
Have a wood stove? Planning to buy or sell a home with one? Note that beginning August 1st, 2010, in an effort to control emissions from smoke, when selling a home you will be required to remove the wood stove if it is “uncertified” by the DEQ. Here is a link for more information: Woodstoves in Oregon
Greece and Mortgage Rates – MBS Quoteline reports: ” Despite stronger than expected economic data, the financial situation in Greece held the greatest influence on mortgage rates this week. A flight to quality and prospects of slower economic growth in Europe were favorable for mortgage markets and negative for the stock market, and mortgage rates ended the week lower.”
Current Mortgage Rates and Mortgage Insurance Updates – According to Pat Goodell of Academy Mortgage:
“Some of the Mortgage Insurance companies have gone to tiered pricing based on credit scores which is good news to those with good credit scores. Mortgage insurance companies also will now allow “up front mortgage insurance” (in lieu of monthly mortgage insurance) to be paid by the seller. The potential advantage of this is that the seller can pay the up front mortgage insurance as part of any allowable closing costs that a buyer might negotiate for a seller to pay. Then the buyer has no mortgage insurance premium to pay as part of their mortgage – this may or may not be an advantage to the buyer depending on their situation; but it does help for qualifying by reducing their monthly mortgage payment. There are qualifying parameters for this option and the lender also has to approve this option as well.” “Interest rates are holding steady now with the 30-yr fixed still hovering around 5% — 30-yr fixed today is actually available at 4.875% with 0 pts, depending on the buyer’s qualifications.”
Community Notes ~
Farmers Market opens this Saturday, May 15th in Lake Oswego. (yay!) This is the 10th Anniversary Celebration. You can find the food & fun at Millennium Plaza Park from 8:30AM – 1:30PM on Saturdays through October 9th. Local musical group, Southern Nights, will perform from 10:30AM till 12:30PM at the kickoff, and the Bike Gallery will be there to check your kids’ helmets!
May is Sustainability Action Month. Take advantage of these local events:
- Free screening of the film Deep Green with local film-maker Matt Briggs. This is an insightful look at “uncovering the best people with the best solutions for “de-carbonizing energy and restoring the natural world.” It will be held Saturday evening, May 15th at 7:30Pm at the Lake Grove Presbyterian Church, 4040 Sunset Drive. Bring your family and friends!
- Get a good look at Lake Oswego’s Century Trees on the Century Tree Bike Ride, May 22nd. The bike ride is hosted by the Planning Dept.’s Green Team, and more information can be had by contacting Laura Weigel at Lweigel@ci.oswego.or.us .
Lake Oswego’s city council created the Sustainability Action Board (SAB) in 2008. For more information on sustainability, visit: The Sustainability Resource Page
To Move or Not To Move / Lifestyle Options for Older Adults , an educational program for seniors and their families is designed to give information on housing options and resources in Lake Oswego. You are invited to attend on May 16th, from 2:00PM to 5:00Pm at the Lake Oswego Adult Community Center, 505 G Avenue.
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.
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 |
Secrets of Lake Oswego’s Famous Flower Baskets
There are several things that Lake Oswego is famous for: the Lake, beautiful homes, great schools, and the glorious flower baskets. The baskets have been hung annually on the main streets of town for many years. They are spectacular with both great size and great color. As someone who loves flowers and working in my garden, I’ve wondered how they do it. What are the secrets that make the LO baskets thrive? They start out pretty and of good size, but by summer’s end they hang about 6 feet down and are a profusion of color that is just amazing. Last Saturday I attended a class put on by the City Park’s and Recreation Department where I learned how they do it. So here it is: the secrets of Lake Oswego’s famous flower baskets.
Start with a 12 inch hanging pot that is nearly as deep as it is wide. The city uses 16 inch pots, but those are much too large for the scale of most homes. 10 inch pots can also be used, but they require watering twice daily, whereas the 12 inch pot can get by on once daily watering. Also recommended is a pot with a straight side. This allows as much soil and water as possible for root development. These instructions are for a 12 inch pot. If you use one that is either larger or smaller, please make your own adjustments.
Fill the pot about half full of soil. The recommended soil is NW Best Soil Potting Mix. This is what is used by the City. It is the choice because it contains “Sirfactin” which allows the walls of soil to expand so water doesn’t run around the planting mix and out the bottom of the container. To this soil, mix in about 1/4 cup of Plant-Tone, a fertilizer to get the plants off to a good start.
Before adding any more soil, remember the planter is only about half full, place 7, 4-inch plant starts. If they are in plastic containers, pull them out. If they are in the kind that are made of compost you can just set them into the planter in the container and the container will decompose as the roots develop. Think about putting a plant that will grow tall in the center such as a geranium. Then place the other 6 plants around the perimeter that will hang as they spread and grow. Think about having a variety of colors and textures. The planters made for the city are designed to be hung in full sun. You can design your own flowers based upon where you intend to hang your planter. Using a 12 inch planter and 4 inch plants you will find that this really packs the pot completely full of plants. The 7th one has to be pretty much squeezed into the planter. This will leave just a few areas between the edges of the plants that need to be filled with dirt. Find those spots and gently fill dirt in around the plants. When you are done the level of the top of the dirt should be about one inch below the rim of the pot. (It’s a good idea when testing the first plant you put into the container to eye-ball the level and see if you need to fill your planter more than half full when you add the initial soil).
Water immediately and really let the water run. The planter needs to be watered DAILY, even on days that have rain. Rain will not be enough to thoroughly saturate the soil. It is not possible to over-water this planter. Yes, you really have to water it every single day. When you water, let the water gently run and then keep the water going. Count to 50, sing a short song, whatever you can do to force yourself to stand at the planter and thoroughly water the planter. Do it every single day and on those days with really extreme heat, do it TWICE.
Once a week fertilize with Proven Winners. This is a fertilizer that is widely sold in the area. You mix it into a big gallon watering can with water and poor it into the planter. It has a balance of fertilizers that is 24-12-17. It contains 15 nutrients, not just nitrogen, phosphorus and potassium, but trace elements as well.
When you hang your planter remember a couple of things. This planter is going to get very large. This means that it will be very heavy so make certain that it is on a hook that will hold the growing weight. Also hang it where it has room to grow. By the end of the season it will hang 4 to 6 feet long. It will be a total show piece in your garden.
If you have questions or need help, or want to buy any and all of the materials listed above, the place to go is The Garden Corner in Tualatin. Located at 21550 SW 108th Ave in Tualatin, this garden center has been the birthplace of the LO hanging baskets for many years. They are proud of their participation in the LO hanging basket program and are happy to be of help to you when you grow a basket of your very own.
I’ve got my basket hanging at my home. I am eager to see just how big it is going to get. Let me know if you do one too. Maybe we can share some photos in September!
Remember, gardening is great therapy for your soul.
Dianne