Tag: buying real estate

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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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News & Notes ~ July 2019 Numbers

Here is your look at the most recent data for the entire Portland area (July 2019) and how Lake Oswego fits in to this picture just below.

According to the RMLS Market Action Report for the Portland Metro Area, July, 2019:

  • There were 3,966  New Listings in July 2019 which was down 8.0%  from July of 2018’s 4,312, and  7.4% from the previous month/June’s 4,281.
  • At 2,994 July 2019’s Closed Sales were up 7.6% over July 2018’s 2,786, and  increased 6.8% over the previous month/June 2019’s total of 2,756. ***This was the strongest July for Closings since 2015 when the total was 3452.
  • July 2019’s Pending Sales (accepted offers), at 2,998 were down  2.4% from July of 2018’s 3,071, and down 2.8% from the previous month/June 2019’s total of  3,083.
  • The Average Sale Price in July 2019 of $466,000 rose about $11,000 over last year/July 2018’s $455,100, and was down $6,700 from the previous month/June 2019’s $472,700.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in July 2019 of $411,600 was up from last year/July 2018’s $401,600 by $18,400, and down $8,400 from the previous month/June 2019’s $420,000 .   

Neighborhoods: July’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $406,300             -0.3%   (June $417,900)
    •                                                     YTD Median: $405,000
  • NE Portland:  $499,200                   1.3%   (June $491,500)
    •                                                     YTD Median: $429,700
  • SE Portland:  $424,200                   2.7%   (June $434,700)
    •                                                     YTD Median: $375,000
  • Gresham/Troutdale:   $373,200     5.5%   (June $374,900)
    •                                                     YTD Median: $353,500
  • Milwaukie/Clackamas:  $452,500  3.9%   (June $484,200)
    •                                                     YTD Median: $417,000
  • Oregon City/Canby:   $446,600      5.1%   (June $460,900)
    •                                                     YTD Median: $415,000
  • Lake Oswego/West Linn:$681,000 0.6%   (June $702,000)
    •                                                      YTD Median: $585,500
  • West Portland:    $587,800             1.5%   (June $611,000)
    •                                                     YTD Median: $524,900
  • NW Wash County:  $557,800         -1.8%   (June $535,000 )
    •                                                      YTD Median: $515,000
  • Beaverton/Aloha:     $411,100       6.3%   (June $411,100)
    •                                                     YTD Median: $390,000
  • Tigard/Wilsonville:   $492,600        2.8%   (June $472,800 )
    •                                                      YTD Median: $440,000
  • Hillsboro/Forest Grove: $423,300  3.5%   (June $433,200)
    •                                                      YTD Median: $380,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of July 2019 reported:

    •  451 Active Listings  (June 468)
    •  226 New Listings     (June 230)
    •  187 Pending Sales   (June 170)
    •  170 Closed Sales      (June 166)
    • Average Sale Price for June: $681,000  (May $702,600)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  62 Average Days on the Market   (June 79)

 

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Market Activity ~ Aug 5-11, 2019

There are a total of 299 homes for sale in Lake Oswego right now. Last week 11 New properties entered the market, 23 moved to Pending status, and 24 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Aug 5-11, 2019)

Address List Price # Beds # Baths Total SF Prop Type
4 TOUCHSTONE #91 $209,900 2 2 993 CONDO
5787 BALEINE ST $389,900 3 1 960 DETACHD
5222 CARMAN DR $565,000 3 2 2543 DETACHD
18225 SW 65TH AVE $625,000 5 2.1 2210 DETACHD
2013 RIDGEWOOD RD $1,099,000 5 3.1 5226 DETACHD
5350 SW DAWN ST $1,100,000 3 3 2420 DETACHD
272 GREENWOOD RD $1,195,000 4 3.1 3218 DETACHD
4687 FIRWOOD RD $1,198,000 3 2.1 2803 DETACHD
18124 PIONEER CT $1,298,000 3 2.1 3201 DETACHD
2445 GLENMORRIE DR $1,385,000 5 5 5168 DETACHD
1715 EDGECLIFF TER $1,675,000 4 4.1 4927 DETACHD

PENDING SALES (Aug 5-11, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
16250 PACIFIC HWY #82 $229,900 1 1 841 CONDO 32
3846 BOTTICELLI ST / Grnd $265,000 2 1.1 1132 CONDO 125
3822 BOTTICELLI ST $289,900 3 2 1171 CONDO 10
5 BLOCH TER $364,900 3 2.1 1972 TOWNHSE 54
19060 INDIAN CREEK AVE $499,999 3 2 1566 DETACHD 120
805 BULLOCK ST $519,900 4 2 2482 DETACHD 44
15368 WALUGA DR $525,000 3 2 1876 DETACHD 420
16860 LAKERIDGE DR $534,000 3 2 1829 DETACHD 2
14674 RAINBOW DR $648,000 4 3 3190 DETACHD 113
1058 HEMLOCK ST $649,900 4 3 2077 DETACHD 110
3220 EDGEMONT RD $689,999 4 3 2124 DETACHD 89
17321 CANYON DR $699,500 5 3.1 4825 DETACHD 5
1286 LARCH ST $724,900 4 2.1 2410 DETACHD 10
13485 STREAMSIDE DR $799,900 4 3 3023 DETACHD 3
4353 SNOWBRUSH CT $819,000 5 3.1 3808 DETACHD 45
642 3rd ST $879,900 3 2.1 2274 CONDO 63
4027 CANAL WOODS CT $1,069,000 4 3.1 4232 DETACHD 118
5702 MEADOWCREEK CT $1,089,000 4 3.1 3205 DETACHD 81
893 10TH ST $1,295,000 4 2.1 2719 DETACHD 116
16359 CHAPIN WAY $1,348,000 4 3.1 4158 DETACHD 59
3919 SOUTHSHORE BLVD $1,425,000 4 3.1 3986 DETACHD 4
19575 35TH CT $2,225,000 5 3 6081 DETACHD 23
13085 SW KNAUS RD $2,300,000 4 2.1 3993 DETACHD 16

SOLD (Aug 5-11, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
16250 PACIFIC HWY #46 $360,000 $325,000 2 2 1305 CONDO 12
1918 BONNIEBRAE DR $400,000 $380,000 4 2 1595 TOWNHSE 18
114 GREENRIDGE CT $420,000 $395,000 2 2 1824 TOWNHSE 60
438 5TH ST $450,000 $440,000 2 1.1 1092 CONDO 16
32 AQUINAS ST $479,990 $479,990 3 2 1518 DETACHD 7
15136 GLEN EAGLES CT $799,999 $550,000 5 3 3150 DETACHD 163
19061 INDIAN SPRINGS RD $569,900 $570,000 4 3 2341 DETACHD 48
17617 SYDNI CT $615,000 $600,000 4 2.1 2651 TOWNHSE 36
8 SIBELIUS CT $595,000 $627,000 4 2.1 2445 DETACHD 4
737 ASH ST $649,990 $640,000 4 2 2428 DETACHD 118
2401 GLEN HAVEN RD $699,900 $652,500 4 3 2942 DETACHD 38
1426 GREENTREE CIR $689,900 $685,000 4 3 3216 DETACHD 14
5492 YORKSHIRE PL $719,900 $690,000 4 2.1 2462 DETACHD 46
5950 HARRINGTON AVE $799,000 $745,000 4 3.1 2816 DETACHD 48
15147 BROOK CT $815,000 $825,000 4 2.1 3221 DETACHD 4
16176 MATTHEW CT $839,900 $837,500 4 2.1 3474 DETACHD 27
2358 SUMMIT DR $880,000 $845,000 3 2.1 2995 DETACHD 14
6044 CLAIRMONT CT $880,000 $847,000 4 2.1 3430 DETACHD 274
917 LAUREL ST $987,000 $850,000 4 3.1 3182 DETACHD 141
35 HIDALGO ST $879,000 $875,000 3 3.1 3926 DETACHD 325
17878 HILLSIDE DR $899,900 $889,000 5 3 3594 DETACHD 40
3623 EENA RD $990,000 $927,000 4 3.1 3429 DETACHD 89
18058 PILKINGTON RD $1,140,000 $1,075,000 3 3 3185 DETACHD 82
841 NORTHSHORE RD $1,398,000 $1,275,000 3 3 2388 DETACHD 189

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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This Week in Lake Oswego! Aug 5-11, 2019

Here are my picks for things happening this week!

Mon, August 5, 2019– 2:00-3:00PM –  Make It! Moon Rock Crafts ~ If you’ve ever wanted your very own moon rock, now’s your chance! Use your K-5’er as an excuse to come make some of these sparkly creations! – Lake Oswego Public Library  Info:  CLICK HERE

Tue, August 6, 2019 –  5:00-9:00PM – National Night Out 2019 in Lake Oswego ~ Let’s party! Lake Oswego is encouraging neighbors to come together for BBQ’s Ice Cream Socials and Potlucks! ~ Your Lake Oswego Neighborhood   Info:  CLICK HERE  

Wed, August 7, 2019 – 6:30-8:30PM – Sounds of Summer Concert Series – Stump City Soul  ~ Enjoy the cool-down at the end of a hot summer day with some music in the park!~ Westlake Park – 14165 Bunick Dr  –Info:  CLICK HERE     

Thu, August 8, 2019 1:00-3:00PM – Scrabble ~ C’mon… we know you love to play!  Every Thursday you can count on a good game. Give a call if you’re a first-time player ~ Community Center at 505 G Avenue –Info & Registration/Phone#:   CLICK HERE

Fri, August 9, 2019 2:00-3:00PM – Tears of Joy Puppet Theater – Pegasus and the Stories of the Stars ~ Bringing Roman and Greek mythology to life:Space is full of stars, but how did those stars get their names?  ~ Lake Oswego Public Library – Info: CLICK HERE

Sat, August 10, 2019 – 5:00 – 8:00PM ~ Howl at the Moon 5k Obstacle Run!! ~ Meet at Luscher Farm for an epic adventure through 3.1 miles and 17 obstacles! ~ 125 Rosemont Rd~    Info : CLICK HERE

Sun, August 11, 2019 – 6:00-7:30PM ~ Moonlight & Music Concert Series – Todd Haaby  ~ Flamenco guitar on a sunny summer early-evening in Lake Oswego. What could be better? – Millenium Plaza Park –Info: CLICK HERE

 

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Market Activity ~ July 22-28, 2019

There are a total of 303 homes for sale in Lake Oswego right now. Last week 17 New properties entered the market, 28 moved to Pending status, and 20 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 22-28, 2019)

Address List Price # Beds # Baths Total SF Prop Type
93 OSWEGO SMT / Upper $239,000 2 2 1212 CONDO
18365 SW 65TH AVE $389,000 3 1 1032 DETACHD
17273 BRYANT RD $492,000 3 1.1 1452 DETACHD
15275 BOONES WAY $529,000 2 2 1320 ATTACHD
16921 KARA LN $620,000 3 2.1 2382 DETACHD
4989 MULHOLLAND DR $624,500 2 2.1 2403 ATTACHD
13660 SHIREVA DR $679,000 4 3 2674 DETACHD
440 9TH ST $688,000 3 2 2475 DETACHD
5709 CHARLES CIR $772,850 4 2.1 2912 DETACHD
15870 TWIN FIR RD $934,000 3 2.1 2856 DETACHD
531 LAUREL ST $985,000 4 3.1 2771 DETACHD
144 LEONARD ST $1,229,000 4 3.1 3552 DETACHD
1692 VILLAGE PARK LN $1,299,000 4 3.1 3500 DETACHD
1369 ANDREWS RD $1,550,000 6 4.1 3513 DETACHD
17171 CEDAR RD $1,795,000 4 3.1 3746 DETACHD
13085 SW KNAUS RD $2,300,000 4 2.1 3993 DETACHD
18783 STAFFORD RD $2,795,000 5 4.2 5757 DETACHD

PENDING SALES (July 22-28, 2019, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
8 CRESTFIELD CT / Upper $172,900 1 1 689 CONDO 11
239 CERVANTES / Upper $189,000 2 2 1100 CONDO 91
45 EAGLE CREST DR #516 $200,000 0 1 600 CONDO 36
200 BURNHAM RD #403 $250,000 2 1 1199 CONDO 11
4000 CARMAN DR, B23 $265,000 2 2 866 CONDO 9
668 MCVEY AVE 310 $299,995 3 1.1 992 CONDO 118
5835 COLBY CT $419,900 3 1.1 1209 DETACHD 8
15252 BOONES WAY $450,000 3 2 1672 ATTACHD 283
112 TOUCHSTONE TER $485,000 3 2.1 1964 TOWNHSE 12
1659 OAK ST $549,000 3 2.1 1885 DETACHD 30
1029 LAUREL ST $575,000 3 2.1 3188 DETACHD 8
3977 BASS LN $599,000 3 2 1953 DETACHD 6
8 WALKING WOODS DR $599,900 4 3 3105 DETACHD 182
4889 HAMPTON CT $599,900 3 2.1 2206 DETACHD 95
16950 LAKERIDGE DR $659,000 4 2.1 2346 DETACHD 9
5602 SOUTHWOOD DR $660,000 3 2.1 2636 DETACHD 3
19 HIDALGO ST $735,000 4 3.1 4747 DETACHD 19
13202 ROGERS RD $759,950 4 2.1 3117 DETACHD 62
2927 TOLKIEN LN $798,000 4 2.1 2819 DETACHD 8
17802 TREE TOP LN $799,900 4 3.1 4110 DETACHD 1
15167 BROOK CT $920,000 4 3.1 3880 DETACHD 66
5680 CHILDS RD $999,990 5 4.1 3430 DETACHD 68
4721 FIRWOOD RD $1,099,000 4 2.1 3575 DETACHD 239
4320 HAVEN ST $1,200,000 4 3.1 4526 DETACHD 165
17979 KELOK RD $1,239,000 2 2.1 2487 DETACHD 7
2912 WEMBLEY PARK RD $1,435,000 4 3.2 4389 DETACHD 155
17613 KELOK RD $2,098,000 4 3 4750 DETACHD 34
920 WESTPOINT RD $4,300,000 4 4.1 6337 DETACHD 162

SOLD (July 22-28, 2019, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #125 $210,000 $198,000 2 2 984 CONDO 256
47 EAGLE CREST DR #18 $199,999 $209,500 2 1 932 CONDO 36
45 CONDOLEA CT $459,900 $425,000 2 2.1 2157 CONDO 9
7210 SW CHILDS RD $424,900 $433,000 3 2 1542 DETACHD 168
138 KINGSGATE RD $475,000 $466,000 3 2.1 1680 DETACHD 8
5737 WASHINGTON CT $478,500 $478,500 4 1.1 1508 DETACHD 2
1117 HEMLOCK ST $525,000 $504,117 3 2 1680 DETACHD 91
939 F AVE $550,000 $550,000 4 2 1706 DETACHD 0
1041 C AVE $630,000 $594,000 3 2 1580 DETACHD 7
17475 WESTVIEW DR $619,950 $604,000 3 2.1 2602 DETACHD 27
1926 WOODLAND TER $609,900 $611,900 4 3 2752 DETACHD 4
16134 WHITE OAKS DR $749,900 $680,000 4 2.1 2613 DETACHD 23
750 BRIERCLIFF LN $769,000 $740,000 3 3 2682 DETACHD 33
26 WILBUR ST $780,000 $750,000 3 2.1 2802 CONDO 18
4250 VIRGINIA WAY $849,000 $915,000 5 5 3283 DETACHD 2
5728 BAY CREEK DR $945,000 $925,000 5 2.1 3598 DETACHD 25
686 RIDGEWAY RD $1,075,000 $1,050,000 5 3 3048 DETACHD 303
19375 SW EASTSIDE RD $1,150,000 $1,150,000 4 3.1 4439 DETACHD 3
367 10TH ST $1,289,000 $1,228,000 4 3.1 3807 DETACHD 21
3096 WEMBLEY PARK RD $1,575,000 $1,415,000 5 4 4165 DETACHD 137

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.

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Market Activity July 15-21, 2019

Based upon the market activity in Lake Oswego last week, I consider the current real estate market to be extremely balanced: favoring both buyers and sellers. The numbers are very even with 22 new listings, 23 pending sales, and 21 closed sales. In other words, houses are coming onto the market at the same rate that they are selling. That’s about as balanced as it can get.

Special congratulations to the folks selling 1515 Cherry Lane. I don’t know the specifics, but after 1063 days on the market it is now in escrow. Good news!

Following is the breakdown for you according to RMLS:

New on the Market (July 15-21, 2019)

Address Type Price BR Baths Sq Ft
47 Eagle Crest Dr #56 Condo $205,000 3 1 1024
4000 Carman Dr B23 Condo $265,000 2 2 866
16524 Roosevelt Ave Detached $424,900 3 1 1131
12 Condolea Dr Condo $425,000 2 2 1312
6315 Dawn St Detached $499,900 4 2 1934
69 Condolea Terrace Condo $569,900 2 2.5 2157
16950 Lakeridge Dr Detached $659,000 4 2.5 2346
4097 Buck Brush Ln Detached $700,000 3 2.5 2533
14211 Dolph Ct Detached $725,000 3 2 1980
5536 Kilchurn Ave Detached $749,900 5 2.5 2550
2927 Tolkien Ln Detached $798,000 4 2.5 2819
615 Lake Bay Ct Detached $999,999 3 3 2555
1590 Country Club Rd Detached $1,099,000 4 3.5 3578
15488 Village Dr Detached $1,180,000 4 4 4143
17979 Kelok Rd Detached $1,239,000 2 2.5 2487
5014 Upper Dr Detached $1,275,000 4 3 3416
4840 Lamont Way Detached $1,475,000 5 3.5 3277
16895 Chapin Way Detached $1,575,000 4 3.5+.5 5182
19575 35th Ct Detached $2,225,000 5 3 6081
17675 Cardinal Dr Detached $2,475,000 4 3 3458
1188 Cherry Circle Detached $2,695,000 5 6.5 8772
4321 Southshore Blvd Detached $4,195,000 5 4.5 6731

Pending Sales (July 15-21, 2019)

Address Type Price BR Baths Sq Ft CDOM
4000 Carman Dr D53 Condo $169,023 1 1 836 43
66 Cervantes Circle Condo $199,900 2 1.5 912 207
172 Oswego Summit Condo $229,900 2 2 1383 146
5225 Jean Rd #514 Condo $271,500 2 2 1100 2
750 1st St #26 Condo $297,000 2 2 1350 11
17903 Belmore Ave Detached $359,900 5 2 2016 78
6024 Fernbrook Circle Detached $465,000 3 2 1616 34
44 Northview Ct Attached $496,800 2 3 2350 2
17653 Schalit Way Detached $500,000 3 2 1463 7
4960 Centerwood St Detached $540,000 3 2 1663 1
86 Greenridge Ct Attached $589,999 4 3.5 2718 98
21 Grouse Terrace Detached $600,000 4 2.5 3108 37
18052 Hobbit Ct Detached $651,700 4 3.5 3289 91
319 3rd St Attached $679,000 3 3.5 1937 1
327 Laurel St Detached $695,000 4 2 2520 105
752 Lake Forest Dr Detached $795,000 4 2 2319 0
12511 Shelby Ct Detached $849,000 5 3.5 3641 30
2151 Crest Dr Detached $899,950 4 2.5 4690 39
1414 Cherry Ln Detached $949,000 6 3.5 4699 1063
19114 35th Pl Detached $1,070,000 4 4.5 5447 308
16586 Phantom Bluff Ct Detached $1,075,000 3 2.5 2571 167
125 Middlecrest Rd Detached $1,429,000 4 3.5 3242 8
17763 Kelok Rd Detached $1,495,000 4 4 3840 354

Sold/Closed (July 15-21, 2019)

Address Type List Price Sold Price Sq Ft CDOM
10 Cervantes Circle 7B Condo $219,900 $209,900 912 33
200 Burnham Rd 3404 Condo $284,900 $270,000 1,325 50
233 Cervantes Condo $275,000 $275,000 1216 189
47 Oriole Ln Detached $482,500 $475,000 1882 18
1308 Cornell St Detached $495,000 $492,000 1750 8
27 Partridge Ln Detached $549,000 $540,000 2493 28
5955 Washington Ct Detached $575,000 $590,000 2554 45
13488 Snowberry Ct Detached $729,000 $680,262 3073 38
4 Hillshire Dr Detached $778,000 $759,500 3232 32
2272 Park Rd Detached $779,900 $780,000 2325 2
4224 Albert Circle Detached $808,000 $808,000 2588 4
8 Othello St Detached $799,900 $814,800 3690 1
5745 Bay Creek Dr Detached $819,900 $815,000 3353 18
128 Northshore Rd Detached $897,500 $838,000 2695 97
18409 Old River Dr Detached $969,000 $885,000 3681 77
909 Cumberland Pl Detached $995,000 $897,000 3267 72
2886 Upper Dr Detached $924,995 $900,000 2674 143
2464 Palisades Crest Dr Detached $1,100,000 $1,040,000 4012 47
17900 Sarah Hill Ln Detached $1,295,000 $1,185,095 4186 27
18135 Crestline Dr Detached $1,495,000 $1,425,000 2673 64
1074 Bayberry Rd Detached $1,625,000 $1,600,000 3429 237

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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Market Activity ~ July 8-14, 2019

There are a total of 311 homes for sale in Lake Oswego right now. Last week 29 New properties entered the market, 25 moved to Pending status, and 20 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 8-14, 2019)

Address List Price # Beds # Baths Total SF Prop Type
8 CRESTFIELD CT $172,900 1 1 689 CONDO
44 EAGLE CREST DR #23 $177,900 1 1 798 CONDO
100 KERR PKWY #9 $198,000 2 1.1 823 CONDO
668 MCVEY AVE #77 $224,900 1 1 496 CONDO
16250 PACIFIC HWY #82 $234,900 1 1 841 CONDO
200 BURNHAM RD #403 $250,000 2 1 1199 CONDO
3828 BOTTICELLI ST $279,000 3 2 1273 TOWNHSE
34 WHEATHERSTONE #17 $399,900 3 2.1 1692 CONDO
27 GREENRIDGE CT $450,000 3 2.1 2140 TOWNHSE
112 TOUCHSTONE TER $485,000 3 2.1 1964 TOWNHSE
150 KINGSGATE RD $494,900 3 2 1502 DETACHD
17608 SYDNI CT $565,000 3 2.1 2466 TOWNHSE
4281 CHAPMAN WAY $569,900 4 3 2038 DETACHD
2415 GLEN HAVEN RD $599,900 5 3 2614 DETACHD
19415 SYCAMORE AVE $599,995 4 2 1584 DETACHD
5020 JEAN RD $639,000 3 2 1837 DETACHD
17573 BLUE HERON CT $660,000 4 3 2464 DETACHD
16 DA VINCI $679,921 4 2.1 2460 DETACHD
75 NANSEN SMT $695,000 4 3.1 3214 DETACHD
18263 ANDUIN TER $749,000 4 3 3103 DETACHD
2903 LAKEVIEW BLVD $770,000 2 2.1 1951 DETACHD
15008 TWIN FIR RD $789,900 5 3.1 3532 DETACHD
5550 JEAN RD $1,079,000 4 2.1 2784 DETACHD
15982 Parker RD $1,100,000 4 3.1 3135 DETACHD
1125 NORTHSHORE RD $1,150,000 3 2 1589 DETACHD
589 7TH ST $1,299,000 5 4.1 3657 DETACHD
17437 CANAL CIR $1,830,000 4 2.1 2815 DETACHD
13311 LESLIE CT $2,295,000 5 5 5601 DETACHD
15825 OSWEGO SHORE CT $2,299,000 3 3.1 4317 DETACHD

PENDING SALES (July 8-14, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #125 $210,000 2 2 984 CONDO 256
750 1ST ST #D22 $269,000 2 2 1350 CONDO 28
245 CERVANTES $274,900 2 2 1292 CONDO 28
3834 BOTTICELLI ST $279,500 2 2 1055 CONDO 12
16250 PACIFIC HWY #46 $360,000 2 2 1305 CONDO 12
114 GREENRIDGE CT $395,000 2 2 1824 TOWNHSE 60
908 BICKNER ST $465,000 3 2 2263 DETACHD 26
805 BULLOCK ST $519,900 4 2 2482 DETACHD 18
14333 SHERBROOK PL $588,000 3 2 1475 DETACHD 8
14664 RAINBOW DR $635,000 3 2.1 3122 DETACHD 21
737 ASH ST $649,990 4 2 2428 DETACHD 118
2401 GLEN HAVEN RD $675,000 4 3 2942 DETACHD 38
25 EL GRECO ST $685,000 6 3 3731 DETACHD 26
1426 GREENTREE CIR $689,900 4 3 3216 DETACHD 14
5492 YORKSHIRE PL $699,900 4 2.1 2462 DETACHD 46
949 CUMBERLAND RD $750,000 4 2.1 2420 DETACHD 15
5332 LOWER DR $775,000 3 2.1 2632 DETACHD 76
17760 OVERLOOK CIR $779,000 4 3 2357 DETACHD 5
5959 SUNCREEK DR $829,000 4 2.1 3315 DETACHD 1
648 3rd St $869,900 3 2.1 2092 CONDO
32 WILBUR ST $879,000 2 2.1 2671 TOWNHSE 63
29 HILLSHIRE DR $999,000 4 2.1 4690 DETACHD 144
18058 PILKINGTON RD $1,140,000 3 3 3185 DETACHD 82
611 RIDGEWAY RD $1,599,000 4 5.1 4463 DETACHD 128
13430 FIELDING RD $2,200,000 4 3.1 4376 DETACHD 332

SOLD (July 8-14, 2019)

Address Opening Price Close Price # Beds # Baths Total SF Prop Type CDOM
12 CERVANTES CIR #7A $200,000 $200,000 2 1.1 912 CONDO 2
16250 PACIFIC HWY #56 $249,900 $249,900 2 2 1305 CONDO 5
48 EAGLE CREST DR #1E $272,000 $259,000 2 2 1370 CONDO 31
5061 FOOTHILLS DR G $335,000 $311,900 2 2 991 CONDO 56
1367 BONNIEBRAE DR $299,500 $325,000 2 1.1 1008 TOWNHSE 48
4648 REMBRANDT LN $460,000 $439,900 3 2.1 1773 DETACHD 26
1124 HEMLOCK ST $495,000 $486,000 3 2 1257 DETACHD 4
18651 SW DON LEE WAY $524,900 $534,900 4 2 1630 DETACHD 35
2380 DELLWOOD DR $549,999 $545,000 4 3.1 2407 DETACHD 5
19111 INDIAN SPRINGS RD $599,000 $585,000 6 3.1 2432 DETACHD 19
5421 RED LEAF ST $579,900 $589,900 3 2.1 2372 DETACHD 2
17644 SYDNI CT $615,000 $595,000 4 2.1 2460 TOWNHSE 32
209 HIDALGO ST $615,000 $615,000 4 2.1 2609 DETACHD 3
13388 AUBURN CT $609,000 $619,000 3 2.1 2492 ATTACHD 134
2388 OVERLOOK DR $675,000 $645,000 4 3 2765 DETACHD 25
16 INDEPENDENCE AVE $749,900 $725,000 4 3 3979 DETACHD 43
16039 BONAIRE AVE $979,900 $984,000 4 3 3308 DETACHD 20
885 9TH ST $1,499,000 $1,465,000 4 3.1 3757 DETACHD 46
1233 CHERRY LN $2,399,000 $1,750,000 5 4.1 6052 DETACHD 279
2322 KNAUS RD $1,898,000 $1,825,000 4 3.2 5087 DETACHD 214

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.