Tag: Dianne Gregoire

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Open Houses 9/30/12

Fall is in the air. Get out and enjoy the changing colors and these 20 open houses. Enjoy!

Address Type Price BR Baths Open
4231 Woodside Circle Attached $289,500 3 2 2 to 4
15144 Boones Way Detached $319,900 4 3.5 1 to 3
4150 Upper Dr Detached $329,000 2 1.5 1 to 3
1501 Koawood Dr Detached $395,000 4 3 1 to 3
1454 Glenmorrie Dr Detached $425,000 4 2.5 1 to 3
16439 Lexington Ct Detached $449,000 2 2 1 to 4
1429 Greentree Circle Detached $459,500 4 2.5 12 to 2
530 Boca Ratan Dr Detached $469,000 4 3 2 to4
31 Touchstone Detached $479,000 5 3 1 to 3
16734 Mellon St Detached $523,950 4 2.5 12 to 3
5530 Dunmire Dr Detached $529,900 5 3 1 to 4
16746 Mellon St Detached $548,850 3 2.5 12 to 3
4994 Hartford Pl Detached $569,000 5 2.5 12 to 2
12994 Sierra Vista Dr Detached $599,500 6 3.5 12:30 to 3:30
18096 Pilkington Rd Detached $625,000 3 2.5 1 to 3
13366 Boones Ferry Ln Detached $649,950 4 2.5 1 to 4
588 9th St Detached $795,000 4 2.5 1 to 3
8 Dover Way Detached $975,000 6 4.5+.5 1 to 3
310 Iron Mountain Blvd Detached $1,295,000 4 3.5+.5 `1 to 3
112 Northshore Circle Detached $1,575,000 4 3.5 11 to 4
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Moving On from Foreclosure or Shortsale

I had the pleasure of attending a continuing education class this past week where the subject was qualifying to buy a house after foreclosure or shortsale. The class was put on by WFG National Title and the guest speaker was Mitch Carpenter, a home mortgage consultant with Wells Fargo. Also in attendance was one of Wells Fargo’s loan underwriters.

Foreclosures and shortsales have been a huge part of our real estate market for several years now. These people who have lost their homes in distressed circumstances are going to get past the hard times, hopefully. In the future they may want to become home owners again. Just how will the foreclosure or shortsale affect their ability to buy a house in the future?

First, a disclaimer. What I am sharing here are some simple guidelines that I got out of a class. Be aware that each circumstance is unique and different underwriters and different lenders may, well, see things differently. This is intended to be general information. If you are in this circumstance, please consult your own lender.

Also, if you are facing foreclosure or shortsale, please seek legal council. What I am sharing here should not be used by you as advice. There are consequences to foreclosure and shortsale that I am not going to go into in this narrative. You need better advice and good legal council that I am simply not providing here.

Extenuating Circumstances vs Financial Mismanagement

When someone who has been through foreclosure or shortsale goes to apply for a new mortgage, the underwriter is going to want to determine if the foreclosure or shortsale was a result of extenuating circumstances or financial mismanagement. Extenuating circumstances are conditions that were out of their control. This may have been failure of a company, illness, or other financial difficulties that were beyond the control of the borrower. It will have been a one-time event that is unlikely to occur again. Financial mismanagement is a pattern of poor choices. Does the borrowers credit history show slow and late payments before the foreclosure or shortsale and also afterwards? This pattern means that the potential for future problems may exist. These two types of distress will determine what a buyer needs to do before they can become a homeowner again.

Foreclosure

If the foreclosure happened under extenuating circumstances:
* Borrow must provide a written narrative explaining the circumstances as well as written documentation and why it will not occur again.
* A minimum 620 credit score
* Purchase needs to be a primary residence and the borrower needs at least 10% down payment
* A credit report that shows borrower has reestablished an acceptable credit history.
* 3 years have passed since the foreclosure

If the foreclosure happened because of financial mismanagement:
* Minimum credit score of 680
* Purchase needs to be a primary residence and the borrower needs 10% down, minimum
* 7 years have passed since the foreclosure

Shortsale

Under extenuating circumstances:
* It has been 2 years since the completion date of the shortsale
* Property can be primary residence, second home, or investment
* No minimum credit score, but good credit will certainly be a factor

Due to financial mismanagement:
* It has been at least 4 years since the completion date of the shortsale
* Property can be primary residence, 2nd home, or investment
* Minimum 680 credit score

New FHA or VA Loans

Both FHA and VA are more lenient than conventional.

FHA will consider a borrow who has been through a foreclosure after 3 years and no further documentation is needed. If the borrower can show it was under extenuating circumstances and good credit has been re-established, they will consider approving a new loan before 3 years.

VA will consider a borrower who has been through a foreclosure after 2 years. If the foreclosure was under extenuating circumstances a new VA loan will be considered after just one year. In both cases the borrower must have re-established good credit.

Of note:
If the foreclosure or shortsale properties were either a VA or an FHA loan, a new VA or FHA loan will NEVER be approved until the the debt is paid in full.

It feels good to be thinking about moving beyond the down turn in the real estate market. There are a lot of people out there who have lost their homes. It has been terrible. Is there a light at the end of the tunnel? I hope so. And for those who moved out into the light, you can rebuild your credit, you can become a home owner again. I recommend connecting up with a good mortgage loan officer and start working with them now for that purchase in the future. A good loan officer will spend time to help you years in advance of your eventual purchase.

Call if you have questions. As always, Linda and I are here to help.
Dianne

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Market Activity ~ Sept 17-23, 2012

Last week we ended with 15 New on the market, 22 Pending and 7 Sold.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Sept 17-23, 2012)

Address List Price # Beds # Baths Total SF Prop Type
4000 CARMAN DR #17 $125,000 2 2 1100 CONDO
668 MCVEY AVE #44 $139,000 1 1 636 CONDO
200 BURNHAM RD #105 $151,400 1 1 858 CONDO
2367 GLENMORRIE DR $275,000 2 2 2132 DETACHD
5099 GALEN ST $289,900 4 2.1 2246 DETACHD
15144 BOONES WAY $319,900 4 3.1 2330 DETACHD
1449 GREENTREE CIR $345,000 4 3 1696 DETACHD
6474 FROST ST $347,500 4 2.1 2216 DETACHD
6450 FROST ST $347,500 4 2.1 2216 DETACHD
16747 BONAIRE AVE $349,900 3 2 1610 DETACHD
39 TANGLEWOOD DR $435,000 4 3 3124 DETACHD
136 D AVE $439,000 2 2.1 1754 ATTACHD
310 IRON MOUNTAIN BLVD $1,295,000 4 3.2 3503 DETACHD
14460 UPLANDS DR $1,795,000 3 3.1 3703 DETACHD
693 TERRACE DR $1,998,000 3 3 3296 DETACHD

PENDING SALES (Sept 17-23,2012 2012)

Address List Price # Beds # Baths Total SF Prop Type CDOM
204 RIDGEWAY RD $107,500 1 1 778 CONDO 230
40 OSWEGO SMT $119,900 2 2 1140 CONDO 82
225 CERVANTES $120,000 2 1.1 1216 CONDO 112
750 1ST ST #A8 $152,900 2 2 1350 CONDO 6
4 TOUCHSTONE #140 $168,000 3 2.1 1351 CONDO 75
5134 TREE ST $250,000 3 1.1 1405 DETACHD 19
2745 GREENTREE RD $259,900 2 2 1219 DETACHD 73
106 KINGSGATE RD $299,900 3 2.1 1669 DETACHD 4
14359 ORCHARD SPRINGS RD $349,900 4 2.1 1939 DETACHD 190
2955 WEMBLEY PARK RD $399,000 3 2.1 2620 DETACHD 26
1903 EGAN WAY $399,900 2 2.1 2280 DETACHD 64
14353 HOLLY SPRINGS RD $399,999 5 3 2238 CONDO 14
13899 MAJESTIC CT $405,000 3 2 2357 DETACHD 71
17121 WALL ST $424,900 4 2.1 2187 DETACHD 23
18123 WESTVIEW DR $449,800 3 2.1 2608 DETACHD 106
353 3RD ST $485,000 2 2.2 2044 ATTACHD 4
1148 LAKE SHORE RD $515,000 3 2 2404 DETACHD 2
4972 HAMPTON CT $539,000 5 3.1 3780 DETACHD 13
290 IRON MOUNTAIN BLVD $595,000 1 1 1432 DETACHD 8
1209 LAKE GARDEN CT $799,000 5 2.1 3428 DETACHD 49
17550 LAKE HAVEN DR $949,900 2 2.2 2580 DETACHD 35
17384 BERGIS FARM DR $995,000 5 4.1 5081 DETACHD 57

SOLD (Sept 17-23,2012)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #24 $51,500 $51,500 1 1 617 CONDO 54
4000 CARMAN DR #10 $119,900 $117,500 2 2 836 CONDO 8
170 OSWEGO SMT $149,900 $144,150 2 2 1506 CONDO 129
4513 OAKRIDGE RD Lot 30 $383,930 $369,900 3 2.1 1835 ATTACHD 123
72 CONDOLEA WAY $495,000 $395,000 3 2.1 2958 CONDO 189
5250 ROYAL OAKS DR $449,900 $435,000 4 2.1 2147 DETACHD 23
1024 NORTHSHORE RD $4,695,000 $3,850,000 5 5.1 7000 DETACHD 428

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

August 2012
Here are some Market Notes for You~

According to the RMLS Market Action Report for the Portland Metro Area August 2012, “All measures of real estate activity are positive when comparing August 2012 with August 2011″:

  • “At 2311, closed sales reached the highest level for a single month period in five years”
  • 2311 represents an increase of 28% in closed sales over August 2011.
  • The average sale price year-to-date ($271,100) rose 2.7% over the same period last year,
  • ***AND… Total time on the market has dropped by 20.3% from 146 to 117 days.

For my Property Blotter readers, the combined area of Lake Oswego and West Linn reported:

  • 685 Active Listings
  • 210 New Listings
  • 131 Pending Sales
  • 149 Closed Sales
  • An average Sale Price of $470,000.
  • Average Time on the Market: 109 Days
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Market Activity Sept. 10-16, 2012

Last week in Lake Oswego there were 17 homes that came onto the market, 21 that went pending, and 9 closed sales.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Sept 10-16, 2012)

Address Type Price BR Bths SF
18409 Benfield Ave Detached $250,000 3 1.5 1400
446 5th St Condo $279,900 2 1.5 1092
106 Kingsgate Rd Detached $299,900 3 2.5 1669
4150 Upper Dr Detached $329,000 2 1.5 1738
4968 SW Suntree Ln Attached $330,000 2 2.5 1680
36 Aquinas St Detached $339,999 3 2 1606
13 Saint Hellens Cir Detached $345,000 3 2.5 2022
13455 Auburn Ct Attached $360,000 3 2.5 1892
1674 Fircrest Dr Detached $379,000 4 2 1998
1501 Koawood Dr Detached $395,000 4 3 2993
890 C Ave Detached $470,000 4 2 2596
6 Da Vinci St Detached $479,900 4 2.5 3378
353 3rd St Attached $485,000 2 2.5+.5 2044
444 10th St Detached $595,000 4 2 1876
290 Iron Mountain Blvd Detached $595,000 1 1 1432
1465 Morning Sky Ct Detached $899,500 5 3.5 4678
1560 Country Commons Detached $949,000 4 3.5 4379

PENDING SALES (Sept 10-16,2012 2012)

Address Type Price BR Baths SF DOM
668 McVey Ave #43 Condo $89,900 1 1 626 55
4 Touchstone #120 Condo $104,900 3 2.5 1351 28
4000 Carman Dr #85 Condo $124,500 2 2 834 10
19061 Redwing Ct Detached $249,900 3 2 1611 67
6325 Alyssa Terrace Attached $259,900 3 2.5 1485 69
4334 Woodside Circle Attached $269,900 3 2 1671 92
234 Greenridge Dr Attached $279,900 3 2 1492 11
236 Greenridge Dr Attached $289,900 3 2 1492 11
4 Del Prado St Detached $299,900 3 2.5 1716 26
15 Saint Helens Circle Detached $314,900 3 2 1528 78
14361 Sherbrook Pl Detached $419,900 3 2.5 2100 120
1267 Hide A Way Ln Detached $469,000 3 2.5 2300 41
762 Lake Forest Dr Detached $484,900 4 3 2567 160
2823 Glen Haven Rd Detached $499,000 4 2 3015 85
1580 Woodland Terr Detached $499,900 4 2.5 2127 185
17022 Crestview Dr Detached $499,900 4 3 3168 31
10 Sherwood Ct Detached $535,000 4 3.5 3289 10
5047 Woodcrest Ln 7 East Detached $679,336 4 3.5 3602 0
19395 Hilltop Rd Detached $875,000 4 3.5+.5 4911 217
16672 Fir Ln Detached $939,000 4 4.5 4179 67
2890 Glen Eagles Rd Detached $1,495,000 4 3.5 4587 17

SOLD (Sept 10-16,2012)

Address Type List Price Closed Price BR Baths CDOM
6351 Burma Rd Detached $230,000 $160,000 2 1 77
5276 Oakridge Rd Detached $274,900 $266,700 3 2 8
545 Hemlock St Detached $269,900 $276,500 3 $2 $2
875 Palisades Terrace Dr Detached $499,000 $349,900 4 3 564
5365 Lakeview Blvd Detached $419,000 $379,000 4 2.5 348
39 Spinosa Detached $449,000 $407,000 3 2.5 86
7 Mountain View Ln Detached $559,950 $488,000 5 2.5 151
775 F Ave Detached $595,000 $587,500 4 2.5 3
175 Berwick Rd Detached $1,495,000 $1,430,000 4 3.5+.5 0

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 9/16/12

This Sunday is going to be a perfect day to go and see some nice homes. The weather is supposed to be sunny and mild, so enjoyable in every regard. There are 28 houses being held open, including Linda’s listing at 979 Devon Lane.

Linda’s listing has stunning views of the City and Mountains. It also has a truly unique floorplan that was custom built to take full advantage of the views. With 4 bedrooms and 3 1/2 baths, it is a tremendous value for $397,000. Linda will be there from 1 to 4pm. Stop by and say hello.

Address Type Price Baths BR Open
1041 Hemlock St Detached $299,900 4 3 1 to 3
13 Saint Helens Circle Detached $345,000 3 2.5 1 to 3
2593 Greentree Rd Detached $374,500 4 3 1 to 4
979 Devon Ln Detached $397,000 4 3.5 1 to 4
14722 Uplands Dr Detached $397,000 3 2 1:30 to 4
475 Country Club Ct Detached $419,000 3 2.5 1 to 4
1454 Glenmorrie Dr Detached $425,000 4 2.5 1 to 3
16439 Lexington Ct Detached $449,000 2 2 1 to 4
31 Touchstone Detached $479,000 5 3 1 to 3
29 Spinosa Detached $489,000 3 2.5+.5 1 to 4
17802 Treetop Ln Detached $529,000 4 3.5 12 to 2
17357 Oak Meadow Ln Detached $535,000 4 2.5 1 to 3
17561 Shepherds Ct Detached $550,000 4 2.5 1 to 4
15655 Fieldstone Dr Detached $589,500 4 2.5 12 to 2
5533 Fieldstone Ct Detached $599,500 4 2.5 12 to 2
18160 Delenka Ln Detached $609,500 4 3 1 to 3
18096 Pilkington Rd Detached $625,000 3 2.5 1 to 3
135 Middlecrest Rd Detached $699,900 3 2.5 1 to 3
1985 Country Club Rd Detached $699,999 5 4 2 to 4
568 9th St Detached $799,900 3 3.5 1 to 4
582 9th St Detached $799,900 3 3.5 1 to 4
828 8th St Detached $825,000 3 3.5 1 to 4
16805 Scott Ct Detached $892,000 3 3.5 1:30 to 3:30
8 Dover Way Detached $975,000 6 4.5+.5 2 to 4
18202 Bella Terra Dr Detached $1,039,500 4 3.5 12 to 2
2092 Summit Dr Detached $1,295,000 4 4.5 1 to 3
16743 Graef Circle Detached $1,595,000 4 3.5 2:30 to 4;30
112 Northshore Circle Detached $1,625,000 4 3.5 11 to 4
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Realtor with a Capital “R”

The State of Oregon requires Realtors to take 30 hours of very specific continuing education to be re-licensed every two years. And the National Association of Realtors requires that every four years Realtors must take a class on the Realtor Code of Ethics.

I’ve taken this class quite a few times. There is very little variation. To be a Realtor, that is with a capital “R”, a licensee must adhere to the Code of Ethics. I belong to one of the very few vocations that actually has a code of ethics. I think it goes without saying that it shouldn’t be necessary, but it is. And I am very proud of my profession that we have taken this position to maintain fair dealings and integrity.

Oregon has a pretty interesting history on this front. Oregon was the very first state in the United States to adopt a code of ethics on July 29th, 1913. So it isn’t just the bottle bill with which we have led the Nation.

The code has 17 Articles that stipulate fair dealings with fellow Realtors, with the our clients, and with the public. Each local real estate board is charged with enforcing the code of ethics. Yes, Realtors are held accountable.

Think about it, real estate involves the most important financial dealings that most people make within their lives. It must be handled with ethics.

My favorite part of the Code of Ethics is the preamble. I’d like to share with you just a sample:

“Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. Realtors should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.”

And that is just the beginning. It is a beautifully written document and a standard that I am proud of in my profession.

Dianne

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Analysis of the Higher Price Ranges

I think that there is a general perception that the market has picked up a bit of steam. I have personally seen this in multiple offer situations and short market times. But I have to say that I’ve seen it in the more affordable price ranges.

I did have a sale recently for a $625,000 house that sold in 1 day with multiple offers. But I found myself wondering, was that a fluke? Is that really happening in the higher price ranges? So I took some time today to compare the more expensive homes (purely arbitrarily I chose $500,000 and higher) today versus what was happening a year ago in the same 6-month time period. Here are the results:

Price Range Sold 2/11-8/11 Active Today Pending Today Sold 2/12-8/12 Current Months of Inventory
$500,000-$600,000 29 36 17 53 4
$600,000-$700,000 25 32 3 27 7
$700,000-$800,000 23 35 7 17 12
$800,000-$900,000 17 18 4 18 6
$900,000-$1,000,000 9 18 2 11 9
$1,000,000-$1,500,000 19 38 6 15 15
$1,500,000-$3,000,000 3 22 4 5 26
$3,000,000-$20,000,000 0 11 2 1 55

Pretty interesting. The $500,000 to $600,000 is selling strongly. So is the $800,000 to $900,000. 4 to 6 months of inventory is a pretty healthy market. Pricing over a million is where it really hits the skids. And that way tip-top price point of $3,000,000 and more is barely moving. This is when we look at the closed sales. But then when you factor in the pending sales, and there are several, it looks a bit better. When the pending sales in the top price bracket close, and this should happen in 45-60 days, the inventory drops from 55 months to 22 months. In the $1,500,000 to $3,000,000 it drops the inventory from 26 months to 14.

Bottom line, it’s still too soon to tell. And it can still be said that the higher priced homes just take longer to sell as there are fewer people financially qualified to buy them.

So what are these high priced houses like?

The most expensive, recently-closed sale was a house on the Willamette River. It sold for $3,600,000 and went pending in just 33 days (seriously!).

The most expensive pending sale is on the North shore of Oswego Lake. Priced at $4,695,000, it took 428 days to receive an accepted offer.

The most expensive house currently for sale is NOT Jantzen Island. That house has been withdrawn from the market. It was price reduced from $19,500,000 to $15,000,000. The new king of the most-expensive- house-fo-sale-in-Lake-Oswego-pageant is a house on Northshore that is listed for $11,600,000. It was built in 2009 and has 13,462 square feet, 5 bedrooms, 6 full baths and 2 half baths.

I hope you find this information of interest. It’s always a kick to try and figure out the market and its trends. Let me know if you have any questions.
Dianne

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Market Activity ~ Aug 20-26, 2012

Last week we ended with 21 New on the market, 15 Pending and 21 Sold.

See below for further details on last week’s Market Activity:

NEWLY LISTED (August 20-26, 2012)

Address List Price # Beds # Baths Total SF Prop Type
92 CERVANTES CIR #11-E $104,900 2 1.1 912 CONDO
11 CRESTFIELD CT $118,000 1 1 650 CONDO
364 CERVANTES CIR #14-D $119,000 2 1 832 CONDO
4765 FIRWOOD RD $300,000 3 2 1728 DETACHD
868 7TH ST $329,900 4 2 2270 DETACHD
4970 SUNTREE LN $350,000 3 2 1769 DETACHD
4263 HARVEY WAY $355,000 3 2 1640 DETACHD
2955 WEMBLEY PARK RD $399,000 3 2.1 2620 DETACHD
4909 MULHOLLAND DR $430,000 2 2.1 2403 ATTACHD
17975 RIDGE LAKE DR $497,900 4 2.1 2727 DETACHD
13548 STREAMSIDE DR $599,900 5 3 3336 DETACHD
16610 WOODSMAN CT $679,900 4 3 3664 DETACHD
543 2nd ST #204 $699,000 2 2 1816 CONDO
2099 SUMMIT DR $699,000 3 2.1 2250 DETACHD
588 9TH ST $795,000 4 2.1 2741 DETACHD
19371 SW RIVERWOOD LN $1,120,000 4 4.1 5048 DETACHD
1924 CHERYL CT $1,295,000 4 4.2 5204 DETACHD
688 IRON MOUNTAIN BLVD $1,297,000 4 4.1 4143 DETACHD
2890 GLEN EAGLES RD $1,495,000 4 3.1 4587 DETACHD
14733 UPLANDS DR $1,900,000 6 5.2 6788 DETACHD
1150 FAIRWAY RD $3,795,000 5 5.1 8724 DETACHD

PENDING SALES (August 20-26,2012 2012)

Address List Price # Beds # Baths Total SF Prop Type CDOM
6351 BURMA RD $87,500 2 1 2016 DETACHD 77
668 MCVEY AVE #43 $104,900 1 1 626 CONDO 34
5225 JEAN RD #504 $150,900 2 2 1100 CONDO 14
5225 JEAN RD #314 $159,900 3 2 1500 ATTACHD 19
3433 MC NARY #506 $168,900 2 2.1 1136 CONDO 34
5195 FIRWOOD RD $206,000 3 2 1886 DETACHD 111
2325 PARK RD $284,950 3 2 1863 DETACHD 0
15115 TWIN FIR RD $299,500 3 2 1392 DETACHD 48
4104 LAKEVIEW BLVD $300,000 4 2 2024 DETACHD 10
1113 ERICKSON ST $324,500 4 2 2203 DETACHD 7
15703 Boones WAY $349,000 3 2.1 2180 DETACHD 55
14710 DAVIS LN $349,999 2 2.1 1680 ATTACHD 87
70 TOUCHSTONE $395,000 3 3 3080 DETACHD 397
5476 SOUTHWOOD DR $769,900 4 3 3858 DETACHD 5
1205 CHANDLER RD $825,000 5 3.1 4275 DETACHD 112

SOLD (August 20-26,2012)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
3 OSWEGO SMT #3 $124,900 $85,000 2 2 1212 CONDO 325
121 LEONARD ST E $106,000 $105,000 1 1 830 CONDO 4
3924 CARMAN DR $145,000 $138,000 2 2.1 1140 ATTACHD 720
4057 JEFFERSON PKWY $169,000 $162,000 3 2.1 1249 ATTACHD 22
750 1ST ST #A9 $169,000 $166,500 2 2 1350 CONDO 9
4251 WOODSIDE CIR $324,900 $250,000 3 2 2032 ATTACHD 294
975 SOUTHSHORE BLVD $285,000 $285,000 3 2.1 2118 DETACHD 4
1286 ROCKINGHORSE LN $385,000 $289,000 3 2.1 1883 DETACHD 613
35 CHURCHILL DOWNS $395,000 $340,000 4 3 2271 DETACHD 17
4101 VIRGINIA WAY $499,000 $350,000 5 3.1 2752 DETACHD 689
1475 LABURNUM WAY $359,900 $359,900 3 2.1 1748 DETACHD 4
2794 VALE CT $438,000 $385,000 3 2.1 2970 DETACHD 87
13131 THOMA RD $450,000 $440,000 3 2 2600 DETACHD 12
4484 WESTBAY RD $575,000 $465,000 5 2.1 3400 DETACHD 116
13259 SANDALWOOD CT $524,900 $524,900 4 2.1 2919 DETACHD 10
4625 FIRWOOD RD $549,900 $540,000 4 3 4147 DETACHD 23
4301 UPPER DR $739,000 $697,000 4 3 3415 DETACHD 29
637 ENGLEWOOD DR $749,000 $734,000 6 3.1 3920 DETACHD 2
13219 DEERFIELD CT $799,900 $776,750 4 3.1 3915 DETACHD 50
2348 OSWEGO GLEN CT $949,900 $800,000 4 3.1 3848 DETACHD 104
777 NORTHSHORE RD $1,295,000 $1,190,000 3 2.1 3960 DETACHD 125

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 2012
Here are some Market Notes for You~

According to the RMLS Market Action Report for July 2012 fo the Portland Metro Area “Every measure of real estate activity is positive when comparing July 2012 with July 2011″:

  • There were 23% more accepted offers,
  • There was an increase of 15.4% in closed sales ,
  • The Median Sales Price rose 7.8% over July last year, and 1.2% when comparing with June 2012
  • ***AND… This is the 4th month in a row that the Median Sales Price has risen.

The combined area of Lake Oswego and West Linn reported:

  • 662 Active Listings
  • 217 New Listings
  • 128 Pending Sales
  • 120 Closed Sales
  • An average Sale Price of $425,000.
  • Average Time on the Market: 126 Days (down by a full 10 days from last month!)