Tag: homes

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News & Notes ~ Oct 2016 #’s

A little news for you (+ Oct data below)~

Good news! Conforming Loan limits are rising.  Here’s a little excerpt from a piece in Realtor Magazine:

The federal government is increasing the limit for conforming mortgages from $417,000 to $424,100 in most regions of the United States starting Jan. 1, 2017, the Federal Housing Finance Agency announced Wednesday—the first such increase since 2006.

The approximately 1.7 percent bump in the baseline conforming loan limit follows the FHFA’s announcement that  the average U.S. home price has returned to its pre-decline peak, which it hit in the third quarter of 2007. The FHFA bases the loan cap on its quarterly Housing Price Index, which gauges average single-family home prices. The index rose 1.5 percent during the third quarter of 2016 and is up 6.1 percent over the past year, enough to push it above its previous high point.

Conforming loan limits are significant because they apply to home loans that meet the underwriting guidelines of Fannie Mae or Freddie Mac, the government-sponsored entities that acquire mortgages from lenders and ensure a steady flow of money to the mortgage market. Interest rates for nonconforming, or jumbo mortgages, are generally higher than rates for loans that fall under the cap, and these types of mortgages can be more difficult to obtain.

 

Here are the latest/October numbers for the entire Portland area (and Lake Oswego details below):

According to the RMLS Market Action Report for the Portland Metro Area, October, 2016:

  • There were 2,929 New Listings in October which was down a whopping 20.3% from September’s 3,673, and down 4.4% from October of 2015’s 3,063.
  • At 2,589, October Closed Sales were also down 8.3% from September’s 2,823, and down 4.7% from October of 2015’s 2,717.
  • October Pending Sales (Accepted Offers), at 2,841 were down only 0.6% from Septembers 2,857, and were also  5.2% lower than October of 2015’s 2,996.
  • The Average Sale Price in October of $405,900 was up $13,700 from September’s $392,200, and also up a whopping $45,900 from October of 2015’s $360,000.     

 

                   _____________________________________________________                                                      October Average Sale Price + Appreciation (last 12 months):

    • North Portland:               $380,400             14.6%  (Sep: $381,400)
    • NE Portland:                    $423,700             11.6%  (Sep: $437,200)
    • SE Portland:                     $384,600            11.7%  (Sep: $368,200)
    • Gresham/Troutdale:        $309,900            12.7%  (Sep: $296,900)
    • Milwaukie/Clackamas:    $372,400            11.1%  (Sep: $395,100)
    • Oregon City/Canby:         $370,500            12.7%  (Sep: $364,100)
    • Lake Oswego/West Linn:$637,400             13.2%  (Sep: $619,800)
    • West Portland:                 $606,900            11.5%  (Sep: $505,100)
    • NW Washington County: $508,000              9.0%   (Sep: $473,300)
    • Beaverton/Aloha:            $322,900            10.7%  (Sep: $335,100)
    • Tigard/Wilsonville:          $404,000            10.5%  (Sep: $400,700)
    • Hillsboro/Forest Grove:  $344,200            14.5%  (Sep: $345,300)

_____________________________________________________

The combined areas of Lake Oswego and West Linn  (RMLS lumps them together) for the month of October 2016 reported:

    •  372 Active Listings (Sep/412)
    •  143 New Listings    (Sep/191)
    •  119 Pending Sales  (Sep/159 )
    •  131 Closed Sales     (Sep/128)
    • Average Sale Price for October: $637,400  (Sep/ $619,800 )
      • 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.
    • Average Time on the Market: 66 Days  (Aug /53)
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Market Activity ~ Nov 14-27, 2016

We hope your Thanksgiving was as wonderful as ours!

This report is for the last two weeks. We saw 7 New properties enter the market in Lake Oswego, 26 move to Pending status, and 34 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Nov 14-27, 2016)

Address List Price # Beds # Baths Total SF Prop Type
100 KERR PKWY #7 $114,900 1 1 617 CONDO
12 BUCKINGHAM TER $499,000 2 2 1457 ATTACHD
50 HILLSHIRE DR $565,000 4 3 1920 DETACHD
5192 COVENTRY CT $635,000 4 2.1 2259 DETACHD
205 5TH ST $645,000 5 2.1 3188 DETACHD
655 2ND ST $829,000 4 3 2556 DETACHD
18531 WAXWING WAY $995,000 6 3.1 3642 DETACHD

PENDING SALES (Nov 14-27, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
121 LEONARD STn #A $300,000 3 2 1136 CONDO 4
4386 THUNDER VISTA LN $359,000 2 2.1 1903 ATTACHD 13
18630 WOOD DUCK ST $385,000 3 2 1808 DETACHD 1
1 SAINT HELENS CIR $424,900 3 2.1 1422 DETACHD 26
15 MASARYK ST $459,500 4 3 3864 DETACHD 247
14798 DAVIS LN $469,750 2 2.1 1698 ATTACHD 61
17766 ARBOR LN $470,000 3 2 1561 DETACHD 118
19 FALSTAFF ST $515,000 4 2.1 3207 DETACHD 207
937 F AVE $575,000 3 2 1382 DETACHD 4
1775 FERNWOOD DR $589,000 6 3 2640 DETACHD 60
4801 Heritage LN $598,500 3 2.1 2205 DETACHD 113
12504 SHELBY CT $625,000 4 2.1 2860 DETACHD 22
1481 GREENTREE CIR $628,800 4 3 2878 DETACHD 38
17533 ERIN CT $629,000 3 2.1 3039 DETACHD 72
1501 WOODLAND TER $649,900 5 3.1 3992 DETACHD 30
17920 MEADOWLARK LN $675,000 4 2.1 2716 DETACHD 4
5530 Dunmire DR $685,000 4 3 3040 DETACHD 187
6457 MCDUFF CT $733,500 4 3.1 3193 DETACHD 10
2325 OAKHURST LN $759,900 5 2.1 3627 DETACHD 153
15501 DIAMOND HEAD RD $995,000 4 3 2353 DETACHD 187
17084 CHAPIN WAY $1,225,000 4 3.1 4028 DETACHD 10
19331 LORNA LN $1,295,000 4 3.1 5070 DETACHD 100
1790 SKYLAND DR $1,295,000 4 4.1 5684 DETACHD 4
401 9TH ST $1,375,000 4 3.1 4288 DETACHD 62
315 BERWICK RD $2,295,000 4 3.1 4860 DETACHD 155
3232 LAKEVIEW BLVD $5,450,000 4 4.1 7925 DETACHD 280

SOLD (Nov 14-27, 2016)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
11 CRESTFIELD CT – Grnd $129,500 $129,500 1 1 550 CONDO 3
86 KINGSGATE RD #i204/Upper $159,000 $149,500 2 2 840 CONDO 24
4 TOUCHSTONEn #90 $199,000 $168,537 3 2.1 1351 CONDO 165
45 EAGLE CREST DR #211 $219,000 $200,000 2 2 1046 CONDO 68
45 EAGLE CREST DR #411 $221,900 $216,000 2 2 1214 CONDO 8
4 ERASMUS ST $273,800 $273,800 2 2.1 1547 ATTACHD 1
4083 JEFFERSON PKWY $299,000 $297,000 2 2.1 1202 CONDO 37
5804 KENNYCROFT WAY $295,000 $311,000 3 1.1 1008 DETACHD 3
1299 BOCA RATAN DR $319,900 $316,950 3 2.1 1858 ATTACHD 2
43 ORIOLE LN $385,000 $365,000 2 2 1810 DETACHD 62
5500 MCEWAN RD $435,000 $394,000 3 2 1820 DETACHD 131
4720 LOWER DR $415,000 $405,000 4 2 2404 DETACHD 3
17623 SCHALIT WAY $435,000 $435,000 3 2 1577 DETACHD 6
1706 MEADOWS DR $499,900 $490,000 3 2 1698 DETACHD 47
17901 STAFFORD RD $640,000 $495,000 3 2 2254 DETACHD 103
261 ASH ST $499,900 $500,000 3 2 1788 DETACHD 10
950 LAKE FRONT RD $549,900 $508,000 4 2.1 2112 DETACHD 34
3520 LANEWOOD ST $579,000 $546,400 3 2 1850 DETACHD 30
4575 OAKRIDGE RD $560,000 $552,000 3 2.1 2040 ATTACHD 27
1920 PARK FOREST AVE $575,000 $565,000 3 3 2679 DETACHD 32
18171 BRYANT RD $799,000 $590,000 3 2 2984 DETACHD 78
4581 TRILLIUM WOODS $615,000 $615,000 3 2.1 2211 ATTACHD 9
14102 KIMBERLY CIR $749,000 $675,000 4 3.1 3103 DETACHD 87
2981 VALE CT $739,900 $690,000 5 2.1 3516 DETACHD 69
5907 BAY POINT DR $720,000 $720,000 4 2.1 3278 DETACHD 1
4550 DOGWOOD DR $899,000 $820,000 3 3 3460 DETACHD 116
14389 EDENBERRY DR $895,000 $860,000 3 2.1 3055 DETACHD 0
876 9TH ST $1,099,900 $1,072,000 4 2.1 2699 DETACHD 101
582 9TH ST $889,000 $1,115,000 3 3.1 2841 DETACHD 946
1961 Cheryl CT $1,375,000 $1,260,000 5 4.1 5124 DETACHD 183
2092 SUMMIT DR $1,579,000 $1,614,000 4 4.1 4527 DETACHD 17
13012 KNAUS RD $1,825,000 $1,787,500 4 3.2 4796 DETACHD 49
980 EVERGREEN RD $2,280,000 $2,100,000 5 5.2 5644 DETACHD 90
1355 Country Commons $1,995,000 $2,337,362 4 3.1 4238 DETACHD 198

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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Optimize Showings

house-insurance-419058_960_720You have made the decision that it is time to move, you have interviewed Realtors and found someone you trust and have faith in, the house is going on the market, now comes one of your most important jobs, making the most of each and every showing that happens. There are a few simple things you can do.

Of course before you listed your home for sale you already did a thorough job of cleaning and making repairs. Here at the blotter we have discussed this at length in previous posts, but in a nutshell, dirt will cost you dearly. No one wants to buy someone else’s grime. Scrub fixtures, clean the roof and the windows. If it is broken, fix it. If you have neither time nor resources to fix things, price your house accordingly. At the right price a buyer will both repair and clean, but it will be a price less than you would otherwise obtain if these were not issues.

So this narrative assumes the house is both clean and repaired. Your house is on the market and your phone is starting to ring, now what?

Turn on all of the lights and open all of the curtains
People associate light with happiness. Especially as our days grown shorter, light is even more important. It is much easier for homes to look beautiful in June than it is in November. Turn on lights even during the day.

Replace your LED lights that have to warm up to be at full brightness. If you have multiple showings, there is a good chance that someone coming through early will turn off lights as they leave. You can put out a note to ask them not to. Just leave it on the kitchen counter. But I also recommend that when you have your house for sale, you need light bulbs that come on at full brightness the minute the switch is flipped.

Open all of the drapes and blinds to let in as much light as possible. If you have a bad view out of a window (I’m thinking neighbor’s garbage cans on the side yard), think about installing blinds that open partially. They can be opened, but not all of the way, to maximize light and also obscure issues you have no control over.

Make is easy for Realtors to show the house
The easiest showing instructions are “call first, use lockbox”. This means a Realtor can call or text you at a designated phone number, leave a message, and then go and show the house. Many homeowners want advanced notice, as much as 24 hours, or want selective showing hours, or want specific appointments where the Realtor must speak directly with the home owner and confirm the appointment time. I recognize that in some circumstances this is necessary and most Realtors will accommodate this, including me. But think about it. Put yourself in the shoes of the Realtor who may want to show your house. They have a list of 15 possible houses to show. They know realistically they can comfortably do 10-12 without everyone becoming too tired. So they go through the list. If a house is complicated to get into, they will forgo it to show a house that is move convenient. So making it hard to show your house will lower the number of showings that you will get.

Leave the house for the showing!
Never, never, never be at home when possible buyers come through. This includes sitting in your car across the street and watching them. When you are home, or obviously in the area, you are putting a big stamp on the property “This is my house!”. Potential buyers will feel cautious about looking around. They will see you in every room, even if you are in the back yard. It is awkward, awkward, awkward. This actually happened to me.

My Mom and I were both Realtors here in Lake Oswego in 1998. I was wanting to move from Sellwood to LO to get my kids into Lake Oswego schools. My Mom went on Realtors tour and came back to the office and told me she had seen the perfect house for me. On her insistence I called the home owner and went to see it. The guy who owned the house was home. He followed me through every room, even going so far as to say things like “this is the kitchen”. I came back to the office and told my Mom that I didn’t like the house. She was floored and insisted it was perfect. I told her about my experience and she suggested I go and see it again and politely ask the home owner to leave. I did. This time I went through the house and was able to see that it had everything I was looking for. When I walked through the yard I could see my kids playing there and my family barbecuing on the big patio. She was right, it was my house. We have lived in it for nearly 20 years. Good thing my Mom had the good sense to get me to make the owner leave!

I know I said never, but there are occasional exceptions to this. Particularly with elderly people or people with disabilities. If it is absolutely necessary for a home owner to be at home, so be it. Realtors are people too. We will work with you and make the best of the situation. Just realize that it can compromise both the number of showings that you get and the quality of the showings.

This advice is relevant no matter the time of year, but when the market slows down, like during the holidays and during a buyer’s market, it is particularly important. I hope you find it helpful. Don’t hesitate to call Linda, Whitney, or myself if you have any questions.
Dianne

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Market Activity Nov 1-6, 2016

I think the pace of sales right now is what I would call “Fall Steady”. Our numbers this week are consistent with what we have been seeing for about a month now. Last week in Lake Oswego we had 11 New Listings, 14 Pending Sales, and 15 Closed/Sold listings.

Details below:

New on the Market (Nov 1-6, 2016)

Address Type Price BR Baths Sq Ft
52 Oswego Summit Condo $199,900 1 1 705
7 Condolea Dr Condo $449,900 3 3 2388
12504 Shelby Ct Detached $625,000 4 2.5 2860
15939 Twin Fir Rd Detached $649,000 3 2 2480
6 Garibaldi St Detached $799,900 5 4 5470
13852 Shireva Dr Detached $830,000 5 3 2716
16007 Bonaire St Detached $867,000 3 2.5 2845
18400 Delenka Ln Detached $949,900 5 3.5 4603
17808 Hillside Way Detached $1,075,000 4 4 3815
4300 Haven St Detached $1,379,000 4 4 4312
757 Lake Shore Rd Detached $2,895,000 4 3.5 4098

Pending Sales (Nov 1-6, 2016)

Address Type Price BR Baths Sq Ft CDOM
3962 Carman Dr Condo $244,900 2 1129 26
155 Oswego Summit Condo $259,000 2 2 1506 46
16724 Roosevelt Ave Detached $364,995 3 1.5 1270 58
580 2nd St Attached $459,000 2 1.5+.5 1464 72
2815 Orchard Hill Pl Detached $478,000 4 3 2812 14
19235 Redwing Ct Detached $485,000 4 2 2084 100
15 Touchstone Detached $495,000 4 2.5 2276 23
1709 Meadows Dr Detached $497,000 4 2.5 2288 15
16577 Glenwood Ct Detached $545,000 4 3 3279 20
3520 Lanewood St Detached $549,000 3 2 1850 30
4400 Cobb Way Detached $565,000 3 2 1676 7
18171 Bryant Rd Detached $625,000 3 2 2984 78
545 Evergreen Rd Detached $789,900 3 3.5 2182 50
950 Cedar St Detached $995,000 4 3.5 3135 257

Sold/Closed (Nov 1-6, 2016)

Address Type List Price Sold Price Sq Ft CDOM
31 Oswego Summit Condo $174,000 $169,900 721 106
74 Galen St Condo $199,900 $198,000 995 35
668 McVey Ave #64 Condo $279,900 $267,000 636 60
98 Greenridge Ct Attached $365,000 $342,500 2000 41
67 Greenridge Ct Attached $369,000 $350,000 2004 67
6423 Frost St Detached $569,000 $509,000 2548 304
17911 Lake Haven Dr Detached $563,000 $545,000 2136 58
19134 Terry Ave Detached $575,000 $557,500 2,557 7
2825 Vale Ct Detached $575,000 $575,000 2314 4
628 Evergreen Rd Detached $619,000 $619,000 2402 4
19 El Greco St Detached $649,000 $632,500 3030 71
3195 Edgemont Rd Detached $699,000 $675,000 1858 91
5681 Yorkshire Ct Detached $734,000 $695,000 2985 97
4176 Upper Dr Detached $869,000 $839,000 2938 32
4200 Upper Dr Detached $1,289,000 $1,265,000 3610 1

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 – Sept 2016

Here are the latest/September numbers for the entire Portland area (and Lake Oswego details below):

According to the RMLS Market Action Report for the Portland Metro Area, September, 2016:

    • There were 3,673 New Listings in September which was down a whopping 12.6% from August, and up 7.3% from September of 2015.
    • At 2,823, September Closed Sales were also down 5.9% from August’s 3,001, and down 6.2% from September of 2015’s 3,010.
    • September Pending Sales (Accepted Offers), at 2,857 were down 14.1% from August’s 3,325, and were also  3.8% lower than September of 2015’s 2,971.
    • The Average Sale Price in September of $392,200 was down $7,900 from August’s $400,100, and also up around $43,200 from September of 2015’s $349,000.                         _____________________________________________________                                   September Average Sale Price + Appreciation (last 12 months):
    • North Portland:  $381,400                             14.3%   (Aug: $373,400/12.8%)
    • NE Portland:  $437,200                                    10.3%  (Aug: $426,400/ 9.2%)
    • SE Portland:  $368,200                                    11.0%  (Aug: $369,400 / 11.0%
    • Gresham/Troutdale:   $296,900                  12.6%  (Aug: $311,600 / 13.1%)
    • Milwaukie/Clackamas:   $395,100               11.1%  (Aug: $385,300  / 8.6%)
    • Oregon City/Canby:   $364,100                      11.6%  (Aug: $364,100 / 12.8%)
    • Lake Oswego/West Linn:    $619,800         14.2%  (Aug: $619,600 / 11.8%)
    • West Portland:    $505,100                              10.3%  (Aug: $572,100 / 9.8%)
    • NW Washington County:    $473,300           7.8%  (Aug: $495,200  / 7.0%)
    • Beaverton/Aloha:     $335,100                          9.9%  (Aug: $350,300 / 9.4%)
    • Tigard/Wilsonville:    400,700                       10.6%  (Aug: $402,200  / 10.7%)
    • Hillsboro/Forest Grove:    $345,300            14.1%  (Aug: $328,100 / 12.4%)

_____________________________________________________

The combined areas of Lake Oswego and West Linn  (RMLS lumps them together) for the month of September 2016 reported:

    •  412 Active Listings (Aug/452)
    •  191 New Listings    (Aug/229)
    •  159 Pending Sales  (Aug/162)
    •  128 Closed Sales     (Aug/166)
    • Average Sale Price for September: $619,800   (Aug/ $619,600)
      • 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.
    • Average Time on the Market: 53 Days  (Aug /59)

 

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Market Activity ~ Oct 24-30, 2016

Last week we saw 6 New properties enter, 20 move to Pending status, and 24 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Oct 24-30, 2016)

Address List Price # Beds # Baths Total SF Prop Type
550 2ND ST $500,000 2 2.1 1540 CONDO
64 TOUCHSTONE $585,000 4 2.1 3494 DETACHD
2399 PALISADES CREST DR $749,000 5 3.1 4452 DETACHD
2092 SUMMIT DR $1,579,000 4 4.1 4527 DETACHD
16819 GREENBRIER RD $2,250,000 4 4 3022 DETACHD
1475 SKYLAND DR $2,600,000 4 4.1 9300 DETACHD

PENDING SALES (Oct 24-30, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
45 EAGLE CREST DR #411 $221,900 2 2 1214 CONDO 8
5804 KENNYCROFT WAY $295,000 3 1.1 1008 DETACHD 3
4450 THUNDER VISTA LN $298,000 2 2.1 2040 ATTACHD 5
1299 BOCA RATAN DR $319,900 3 2.1 1858 ATTACHD 2
12848 BOONES FERRY RD $335,000 2 2.1 1182 CONDO 0
1875 FERNWOOD DR $349,900 3 1.1 1102 DETACHD 11
94 GREENRIDGE CT $364,900 3 2 1752 ATTACHD 57
6 SUMMIT RIDGE CT $399,000 2 2.1 1750 ATTACHD 120
1 SAINT HELENS CIR $424,900 3 2.1 1422 DETACHD 5
4208 HARVEY WAY $475,000 4 2 2132 DETACHD 3
208 ASH ST $529,500 3 2 1912 DETACHD 5
4575 OAKRIDGE RD $560,000 3 2.1 2040 ATTACHD 27
18171 BRYANT RD $625,000 3 2 2984 DETACHD 67
4328 LORDS LN $699,950 3 3 4354 DETACHD 59
17700 LEAFY LN $779,500 4 2.1 3666 DETACHD 76
878 10TH ST $879,000 2 2 1900 DETACHD 29
876 9TH ST $1,099,900 4 2.1 2699 DETACHD 0
1122 BAYBERRY RD $1,199,900 5 3 3259 DETACHD 135
13959 FOSBERG RD $1,800,000 4 5.1 5075 DETACHD 183
5405 CHILDS RD $1,899,000 5 4.1 5702 DETACHD 206

SOLD (Oct 24-30, 2016)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #13 117000 113000 1 1 617 CONDO 23
354 CERVANTES CIR #1C 158000 150000 2 1.1 912 CONDO 9
86 KINGSGATE RD #B103 158900 150000 2 2 924 CONDO 149
4628 LOWER DR #B1 149999 157500 2 1.1 1170 CONDO 3
76 GALEN ST #76 199900 199900 2 2 989 CONDO 6
76 OSWEGO SMT – Upper 199900 220000 2 2 1212 CONDO 43
38 GREENRIDGE CT 365000 365000 3 2.1 1996 ATTACHD 46
1248 ASH ST 399950 399000 2 1 1631 DETACHD 98
17 ORIOLE LN 425000 420000 3 2.1 1800 DETACHD 3
4752 REMBRANDT LN 439900 449000 3 2.1 1655 DETACHD 3
15711 BOONES WAY 499000 510500 3 2 1973 DETACHD 25
3845 TEMPEST DR 574000 530000 4 2.1 2000 DETACHD 71
1590 LARCH ST 640000 587500 5 2.1 2836 DETACHD 66
2600 PARK RD 624900 590000 3 3 2240 DETACHD 5
1837 CEDAR CT 629000 600000 5 3 2625 DETACHD 92
3180 WESTVIEW CIR 749000 675000 3 2.1 2787 DETACHD 82
2484 MARYLSHIRE LN 799000 758000 4 3.1 4283 DETACHD 64
5314 CHILDS RD 864000 775000 4 2.1 3272 DETACHD 109
17572 SHEPHERDS CT 879900 820000 4 3 2983 DETACHD 69
2527 PALISADES CREST DR 999999 885000 3 2.1 3738 DETACHD 86
13017 KNAUS RD 1075000 1075000 4 3.1 4690 DETACHD 89
683 5TH ST 1178000 1180000 4 3 2811 DETACHD 0
17313 BLUE HERON RD 2000000 1990000 4 3.1 3480 DETACHD 35
12740 FIELDING RD 2100000 2075000 4 2.1 3453 DETACHD 111

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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Our Growing Population

If you have lived in the Portland metro area for the last 5 years or so you have seen first hand how much our population is growing. I know I have mentioned in previous blog posts the United Van Lines survey that comes out each year showing where in the United States people are moving to and from. Oregon for 2 years in a row has now been the #1 in-migration state in the country. So what you sense as you drive around is very, very real. I think about this a lot because it has a big impact on my job, and so I pay attention to others with thoughtful observations on the topic. This past week I had the pleasure of discovering an article in Portland Monthly on this very subject. Written by Randy Gragg, it layed out some really good observations and thoughts.

The first factor that is supporting our growth is our strong economy. With large employers like Nike, Intel, Adidas, and Columbia Sportswear, good jobs are available. Randy Gragg believes that this is going to continue and even expand. He attributes it to a new tech boom that is spurred on by the growing connectivity of our personal devices to the Internet. Think Fitbits, phones, even refrigerators and our cars, this is the economy of the “Internet of Things”.

Then there is the reality that 14,000 new apartments have been built since 2012, and 60 buildings at least 100′ tall are in the planning process, 15 of them are over 200′. I remember learning that the zoning for high rise buildings like exist in downtown Portland goes all the way South to about the Sellwood bridge. We are going to see more and more of the small, obsolete buildings in Portland being torn down and replaced with tall office, apartment, and condominium buildings.

The third factor is that we actually have the land to allow this development to take place. This land exists now within our urban growth boundary. Both San Francisco and Seattle are geopgraphically contained by water and therefore the opportunity for growth is limited. Not so in Portland. Portland is 3 times the size of San Francisce and 2 times the size of Seattle. Here’s a fun fact: SE 82nd Ave is the geographic center of Portland. This means that all of the land in the out East side is ripe for eventual development. The population of Portland is expected to exceed that of Seattle (the city, not the entire metro area) by 2025.

The fourth factor is climate change. The drought in the Southwest is a very significant factor right now. Suddenly all of our rain looks pretty attractive when the alternative is water rationing and the hardships of living in a drastically dry environment.

So what to do? Randy Gragg shares these ideas:

1) The metro area needs to concentrate on building affordable family housing. This means that instead of tearing down one old house and building one huge new house, we need to tear down one old house and build a tri or fourplex. This needs to be encouraged by offering incentives to builders and also by loosing up zoning restrictions.
2) The traffic is hear to stay, don’t fret about it. Randy used a pretty funny phrase. He says that if you complain about traffic it makes you a GBB, a Grumpy Baby Boomer. He points out that younger people increasingly don’t rely on cars but instead use car sharing, uber, bikes, and mass transit. I can attest to this. I see it in my younger clients. Think Copenhagen, Madrid, and the great cities of Europe. They are already doing this.
3) Let growth be our friend and realize that with growth will come opportunities. Development fees can encourage community improvements.
4) Do value historic preservation but let it be focused on buildings that have genuine value. Old does not necessarily mean valuable.
5) Encourage good urban design with emphasis put onto vibrant streets and public plazas. People need places to enjoy the community that they get out into. A great example of this is Millenium Plaza Park right here in LO.
6) Recognize that a lot of the growth that is going to happen is going to be on Portland’s East side. It is no longer the boonies, it is prime.

I realize that you are probably thinking “So, what does this have to do with Lake Oswego?”. It has a lot to do with Lake Oswego. All of this growth is going to press in upon our community. We too are growing and are going to continue to grow. I don’t see high rise buildings happening here, but I do see much larger buildings than have been built in the past. Look at the mixed use building currently under construction on the Wizer block. It is taller than any other building in our town. We are going to see more of this, not less. I will predict in this post that I do believe the Foothills Development will happen within the next 20 years. It is too well located near downtown LO and has easy access to what will likely become a commuting line into Portland on the current Trolly route. We are going to see lots of changes as we grow. I am not going to complain about it. I am instead going to pay attention to it and give imput when possible.

I’d love to know your thoughts,
Dianne

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Market Activity Oct 3-9, 2016

Here is your market report for real estate activity in Lake Oswego last week. We had 12 new listings, 19 houses go into pending status, and 15 closed transactions. Not quite the gang-buster activity of the spring and summer, but still active and pretty balanced between new listings and houses getting sold.

Following is the breakdown for you according to RMLS:

New on the Market (Oct 3-9, 2016)

Address Type Price BR Baths Sq Ft
1368 Boca Ratan Dr Attached $325,000 2 2 1611
60 Wheatherstone Condo $375,000 3 3 2465
10 Saint Helens Circle Detached $409,900 2 2 1410
29 Becket St Detached $480,000 3 2.5 2354
3520 Lanewood St Detached $579,000 3 2 1850
5750 Washington Ct Detached $599,000 3 2.5 2238
4581 Trillium Woods Attached $615,000 3 2.5 2211
1481 Greentree Circle Detached $628,800 4 3 2878
1838 Oak Knoll Ct Detached $649,000 4 2.5 2557
150 Iron Mountain Blvd Detached $725,000 4 2.5 2868
13554 Southwood Ct Detached $750,000 3 2.5 2912
951 Westpoint Rd Detached $3,865,000 6 4 4144

Pending Sales (Oct 3-9, 2016)

Address Type Price BR Baths Sq Ft CDOM
86 Kingsgate Rd B103 Condo $158,900 2 2 924 149
86 Kingsgate Rd I204 Condo $159,000 2 2 840 24
45 Eagle Crest Dr #211 Condo $189,900 2 2 1046 68
169 Oswego Summit Condo $198,000 2 2 1383 171
131 Oswego Summit Condo $205,000 2 2 1212 24
566 S State St Condo $215,000 1 1 778 2
48 Eagle Crest Dr Condo $265,000 2 2 1443 64
15450 Kimball Ct Detached $449,900 4 2 1544 26
4191 Southshore Blvd Detached $455,000 3 2 1361 12
15 Masaryk St Detached $469,500 4 3 3864 196
1677 Laurel St Detached $489,000 4 3.5 2445 6
654 1st St Condo $689,000 2 2.5 2140 35
16060 White Oaks Dr Detached $799,000 4 3.5 3420 135
4726 Upper Dr Res-Mfg $810,000 3 2 2250 148
878 10th St Detached $879,000 2 2 1900 7
582 9th St Detached $1,100,000 3 3.5 2841 946
548 Ridgeway Rd Detached $1,560,000 4 3 2830 455
1125 Maple St Detached $1,998,000 4 3.5 5481 244
1021 Lake Shore Rd Detached $2,695,000 4 3 3487 941

Sold/Closed (Oct 3-9, 2016)

Address Type List Price Sold Price Sq Ft CDOM
4 Touchstone #140 Condo $185,000 $182,000 1351 10
3928 Carman Dr Condo $239,900 $245,000 1,130 5
221 Cervantes Condo $265,000 $279,500 1,240 14
2 Mountain Circle Attached $299,000 $300,000 1372 32
18851 Pilkington Rd Detached $399,000 $376,000 1679 54
4291 Collins Way Detached $405,000 $425,000 1482 5
16652 Bryant Rd Detached $440,000 $440,000 2411 5
5581 Yorkshire Pl Detached $585,000 $574,300 3,218 69
18183 Westminster Dr Detached $720,000 $713,000 3191 57
17170 Wall St Detached $835,000 $825,000 3446 12
18260 River Edge Ct Detached $949,000 $940,000 4711 164
721 7th St Detached $1,249,000 $1,225,000 4544 42
13060 Knaus Rd Detached $1,595,000 $1,450,000 4353 48
13800 Knaus Rd Detached $1,995,000 $1,995,000 5132 42
1193 Fairway Rd Detached $2,900,000 $2,998,000 7028 987

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 ~ Sept 26-Oct 2, 2016

Ah, Fall…

It brings back memories of when I bought my Lake Oswego home.  My son was in 2nd grade many years ago, and I wanted him to be able to attend Lake Oswego schools, so we put our home on the market, sold it quickly and moved to our new home on Thanksgiving Day. I remember the leaves were flying in the breeze through my lovely new garden. I chose the Palisades Neighborhood which boasts a fabulous dog park at Luscher Farm, Palisades Market (which is just *the best*), quick access down McVey/Stafford into Portland via Hwy 43 as well as views of the valley and all the amenities… the Lake Theater & Cafe  close by where you can wait for a movie with a view of the lake, Christmas Trees every year from the Boy Scout Troop at George Rogers Park, shopping at Chico’s and the other fine shops at Lake View Village, eating on or near the lake at several fine establishments including Manzana, Stikmen & Tucci’s. I began my real estate practice in Lake Oswego, and took on the many roles of an active mom who wanted the best for my son in those days.  I served as Publicity Chair and then President of the former Waluga Jr High Booster Club, and learned to Love the community with each passing year.

Fall is a fabulous time to buy a home in Lake Oswego ; )

Happy hunting!

Linda

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Last week we saw 10 New properties enter, 18 move to Pending status, and 19 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Sept 26-Oct 2, 2016)

Address List Price # Beds # Baths Total SF Prop Type
668 MCVEY AVE/Lower $475,000 3 1.1 992 CONDO
4575 OAKRIDGE RD $560,000 3 2.1 2040 ATTACHD
1264 ROCKINGHORSE LN $599,000 4 2.1 2293 DETACHD
1175 HALLINAN CIR $735,000 4 3 3341 DETACHD
878 10TH ST $879,000 2 2 1900 DETACHD
605 COUNTRY CLUB RD $1,100,000 4 2.2 3422 DETACHD
18402 ANDUIN TER $1,185,000 4 3.1 4166 DETACHD
653 A AVE $1,339,000 3 2.1 2628 DETACHD
1968 CHERYL CT $1,599,000 4 4.3 6153 DETACHD
16538 MAPLE CIR 1150000 – 1225000 4 3.1 3174 DETACHD


SOLD (Sept 26-Oct 2, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
3928 CARMAN DR $239,900 2 2.1 1130 CONDO 5
18540 KRISTI WAY $329,950 3 1.1 1246 DETACHD 50
5040 TUALATA LN $339,000 3 1 1389 DETACHD 30
94 GREENRIDGE CT $364,900 3 2 1752 ATTACHD 27
38 GREENRIDGE CT $365,000 3 2.1 1996 ATTACHD 46
9 ORIOLE LN $399,830 3 3 1928 DETACHD 318
5051 W SUNSET DR $484,000 2 2.1 1734 ATTACHD 58
1706 MEADOWS DR $499,900
Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4619 LAKEVIEW BLVD / Grnd $129,000 $120,000 1 1 753 CONDO 30
217 CERVANTES / Lower $219,000 $219,000 2 1.1 1204 CONDO 9
54 GALEN ST / Upper $248,000 $225,000 2 2 995 CONDO 32
16443 LAKE FOREST BLVD $395,000 $411,000 3 2 1474 DETACHD 4
4188 COBB WAY $575,000 $480,000 6 3 2577 DETACHD 51
19080 INDIAN SPRINGS CIR $450,000 $490,000 3 2 2235 DETACHD 4
18715 INDIAN CREEK DR $529,900 $532,000 3 2 2076 DETACHD 118
510 COUNTRY CLUB RD $655,000 $532,000 4 3 3274 DETACHD 105
4962 HARVARD CT $559,000 $535,000 4 2.1 2522 DETACHD 42
18121 PIONEER CT $648,000 $648,000 4 2.1 2310 DETACHD 41
5 CELLINI CT $788,900 $699,900 5 3.1 4659 DETACHD 178
100 LEONARD ST / Upper $749,000 $730,000 3 2.1 2734 CONDO 17
29 HILLSHIRE DR $799,000 $805,000 3 2.1 4638 DETACHD 0
1300 ANDREWS RD $1,290,000 $1,072,000 5 3 4810 DETACHD 60
14599 DORIS AVE $1,143,666 $1,132,477 5 3.1 3903 DETACHD 0
1131 NORTHSHORE RD $1,350,000 $1,200,000 4 3 3850 DETACHD 374
629 5TH ST $1,385,000 $1,295,000 4 2.1 2985 DETACHD 53
1814 Highlands LOOP $1,700,000 $1,700,000 3 4.1 5635 DETACHD 224
13600 GOODALL RD $2,295,000 $2,100,000 6 6.1 6612 DETACHD 44

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 for September 19 – 25th, 2016

Hey everybody, hope that the ease into fall has been good. I certainly noticed as soon as there were leaves everywhere! But with the change in temperature comes cold season. So make sure to keep your homes nice and warm, and stock up on good tea!

18 New listings, 25 pending, 14 sold homes!

Following is the breakdown for you according to RMLS:

New on the Market (Sept 19-25, 2016)

Address Type Price Bedrooms Bathrooms Sqft
100 KERR PKWY #13 CONDO 117,000 1 1 617
155 OSWEGO SMT CONDO 259,000 2 2 1506
5720 KENNY ST DETACHED 389,900 2 2 1416
4191 SOUTHSHORE BLVD DETACHED 455,000 3 2 1012
14798 DAVIS LN ATTACHED 479,900 2 2.5 1698
19242 TERRY AVE DETACHED 493,900 4 2 1872
1775 FERNWOOD DR DETACHED 589,000 6 3 2640
17872 PILKMINGTON RD DETACHED 595,000 3 2 1610
13105 ROGERS RD DETACHED 679,900 4 3 2655
44 NOVA CT DETACHED 749,900 4 2.5 2868
264 D AVE ATTACHED 799,900 3 2.5 2011
27 BERWICK RD DETACHED 829,000 5 3 2968
13372 FIELDING RD DETACHED 1,000,000 4 4.5 3556
671 5th ST DETACHED 1,178,000 4 2.5 2781
915 CEDAR ST DETACHED 1,200,000 4 3.5 3219
17 BERGIS FARM DR DETACHED 1,289,900 4 2.5 4396
401 9th ST DETACHED 1,390,000 4 3.5 4288
12812 GOODALL RD LOT10 DETACHED 1,995,000 5 4.5 4808

Pending Sales (Sept 19-25, 2016)

Address Type Price Bedroom Bathrooms DOM
86 KINGSGATE RD CONDO 154,900 2 2 8
4 TOUCHSTONE CONDO 185,000 3 2.5 10
74 GALEN ST CONDO 199,900 2 2 35
4325 SILVER CT CONDO 340,000 3 2.5 67
4214 WOODSIDE CIR ATTACHED 359,000 3 2.5 32
18851 PILKINGTON RD DETACHED 399,000 3 2 54
5500 MCEWAN RD DETACHED 400,000 3 2 131
4720 LOWER DR DETACHED 415,000 4 2 3
17623 SCHALIT WAY DETACHED 435,000 3 2 6
14863 TWIN FIR CT DETACHED 539,500 3 2 14
17911 LAKE HAVEN DR DETACHED 548,000 4 2.5 58
652 8TH ST DETACHED 549,900 2 1 4
3845 TEMPEST DR DETACHED 549,900 4 2.5 71
2825 VALE CT DETACHED 575,000 4 3 4
6051 SUMMER WOODS DETACHED 610,000 4 2.5 3
712 LAKE FOREST DR DETACHED 690,000 3 2 6
3195 EDGEMONT RD DETACHED 699,000 3 2 91
5681 YORKSHIRE CT DETACHED 699,900 4 2.5 97
2981 VALE CT DETACHED 699,900 5 2.5 69
5037 PARKHILL ST DETACHED 729,000 4 2.5 25
18462 PIONEER CT DETACHED 819,000 5 3 42
4176 UPPER DR DETACHED 839,000 4 3 32
17867 SUNDOWN CT DETACHED 850,000 3 3.5 35
5314 CHILDS RD DETACHED 859,900 4 2.5 109
650 1ST ST CONDO 899,000 3 2.5 23

Sold/Closed (Sept 19-25, 2016)

Address Type List Price Close Price Sqft DOM
4000 CARMAN DR CONDO 199,900 193,000 834 34
219 CERVANTES CONDO 220,000 215,000 1100 44
71 OSWEGO SUMMIT CONDO 217,500 216,000 1140 2
193 OSWEGO SMT CONDO 235,000 243,000 1383 6
18440 SW DONLEE WAY DETACHED 385,000 385,000 1223 2
1223 HEMLOCK ST DETACHED 422,000 415,000 748 118
5850 BONITA RD DETACHED 527,500 458,000 1272 132
17200 CANAL CIR DETACHED 585,000 585,000 1774 90
17323 LAKE HAVEN DR DETACHED 699,900 699,900 1864 4
1015 SHER LN DETACHED 899,999 850,000 3511 37
17259 LOWENBERG TER DETACHED 895,000 895,000 2955 5
527 10th ST DETACHED 1,150,000 1,125,000 2677 62
3118 DOUGLAS CIR DETACHED 1,339,000 1,280,000 3570 56
780 NORTHSHORE RD DETACHED 2,222,000 2,170,000 2201 10

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.