Happy 2010 to each of you! I don’t know about you, but I can feel the excitement (and dare I say relief) in the air. It’s a new year, and things are looking good. Lake Oswego is already celebrating its Centennial, employment figures are up, real estate tax incentives are in full force (for a few months anyway), stocks started the year with a rally, and “the trend is still up” according to Rob Lutts, chief investment officer at Cabot Money Management.
Are there naysayers and warnings of impending doom? Yes, as always. I, however, am “cautiously excited” at the prospect of renewed opportunity all around. I see my clients achieving their goals and changing their lives, and I know that time does indeed march on. For my clients, job changes happen, marriages and divorces happen, families grow & need more space, loved ones want to be closer geographically, retirement and downsizing happen, and of course, “upsizing” is also very much alive.
The beginning of the year also always brings some legislative changes, like needing a hands-free device to talk on your cellphone in the car. The new law does, however “…exempt motorists who are on their hand-held cell phones ‘in the scope of the person’s employment if operation of the motor vehicle is necessary for the person’s job’.” Hmmmm, I wonder if that includes Realtors? Well, I think I’ll opt for safety anyway, but I can smell some friction (is that burning rubber?) ahead in the way of challenges to these minimum $142. tickets.
In the real estate world, there are all manner of regulatory changes, and changes to the “new” forms we’ll be using. Make sure to talk with your Realtor (or Dianne and I if you are without a Realtor) if you have any questions. Some of the changes could affect the timeline of your transaction if you are not aware of them. For instance, if a transaction includes any seller-carried financing, and the document is prepared by escrow, there is a 3-day mandatory review period… so if the Buyer is just seeing the document for the first time at signing, there will be a 3-day delay in closing. Also, you will notice that our ML#’s have gotten a bit longer. As we are starting a new decade, the ML#’s now start with “10”… so they’ll be longer numbers & have lots of zero’s for awhile : ) As an aside, the count on these, and therefore the number of new January listings as of today in Lake Oswego number 24, and range in price from $90,000 to $998,500.
Last, but definitely not least, I want to address the excitement of the ongoing Centennial Celebration in Lake Oswego. I’m including a link here to a pdf that has all kinds of historic Lake Oswego photos, and news stories from 1910. By that time Lake Oswego had been in existence for 60 years already. Three previous attempts at incorporation had failed due to fears around “additional regulations and taxation” (sound familiar?). Residents in First Addition were interested in: “promoting small businesses, water quality, fire protection, debate over the sale of alcohol, as well as government autonomy. The vote in favor of the measure was 79 to 22. Only men cast their ballots because Oregon women did not win the right to vote until 1912.” You really MUST check out this link. Some of the headlines read: “City Government Controls Width of Tires”, “Buy a Lake-Front Lot for $50.”, “Oswego’s Bear Population”, “Illiterate Cows”, “Pig Penmanship”, and many, many more.
Happy, Happy 2010 to you and yours, and thank you for reading the Property Blotter!
I think the best thing I can say about the Lake Oswego real estate market of 2009 was that it wasn’t 2008. Remember a year ago? We’d seen the collapse of some of the Nation’s largest banks, the first bailout/stimulus package had been put into play, and the entire Nation was in a wait and see mode as the country transitioned to a new Presidency. It was a very difficult time. And it makes today’s market feel, well, pretty darn good.
Let’s start by looking at the Portland Metro area.
At this time last year the RMLS was reporting 19.2 months of inventory. In other words, to sell all of the active listings at the pace that properties were then selling, it would take 19.2 months. Today that same inventory is just 7.1 months. Whew!
Closed sales from November of 2009 (the most recent report available at the RMLS) are 72.4% greater than they were in November of 2008. Don’t get too excited about that one. It’s a reflection of just how horrible sales were in November of 2008 and how great they were comparatively in 2009. Putting better perspective on it requires doing a 11 month average of January-November for 2008 and then 2009. When this is done the closed sales are greater in 2009 by 2.6%. Still, an improvement.
November of 2009 compared to November of 2008 has pending sales up by 19.9%
November of 2009 compared to November of 2008 has new listings down by 7%
We have continued to see a decline in home values of 11.4%, year over year.
Looking at the specifics of Lake Oswego:
There are currently 396 single-family homes for sale and 130 condos. Of the single-family homes, 96 are priced at over $1,000,000 and 54 are priced at $350,000 or less.
There are currently 49 single-family homes and 12 condos with pending sales.
In the last 12 months 393 single-family homes and 95 condos have sold and closed. Of those 42 cost $1,000,000 or greater and 93 were priced at $350,000 or less. In those high-end homes, 7 were priced over $2,000,000.
At the pace that $1,000,000 and greater homes are selling, based upon the performance of the last 12 months, there is still 2.2 years of high-end inventory. And that also means that the less expensive homes ($350,000 or less) has just 7 months of inventory.
The average sales price is $419,300.
Property values saw a decline of 12.9% in the last 12 months.
Average days on the market (length of time between listing a home for sale and accepting an offer) is 163 days.
I just can not leave this subject entirely without doing my compulsive comparison of affordable homes in Lake Oswego versus Sellwood, a neighborhood in SE Porltand. I like to do this because I used to live in Sellwood, so I think I have a good idea of the area, and because I remain convinced that Lake Oswego is misunderstood by buyers. Many people assume that Lake Oswego is just too expensive for their budget. This is, in fact, not true at all. At this time there are currently 54 houses for sale in Lake Oswego priced at $350,000 or less, whereas in Sellwood there are currently just 27. Lake Oswego is a good place to find an affordable home.
The least expensive home in Lake Oswego is a short-sale property that needs work. It’s priced at $169,000 and has 1382 square feet with 3 bedrooms and 2 full baths. It’s on a quiet street near Waluga Junior High School. Offers have been submitted to the lender for 3rd party approval.
The least expensive home in Sellwood is a short-sale property that is being sold “as is”. It looks to me like it needs some work but is in better condition than the LO property. It is priced at $209,000 and has 850 square feet (120 of that in the basement) with 2 bedrooms and 1 bath. It too has received an offer and is waiting for lender 3rd party approval.
The most expensive home in Lake Oswego remains the 5.5 acre private island in Oswego Lake that is priced at $19,500,000. Built in 1929, it has 13,500 square feet with 5 bedrooms and 6 1/2 baths. There are waterfalls and a lake side pool. To arrange a showing, buyers must provide verification of funds. Yep, LO has those kinds of houses too.
We will never be able to foresee the future. We can only look at the present and the recent past to get an idea of what to expect ahead. My prediction is that the tax incentives for 1st time buyers, and now for repeat buyers as well, will continue to boost sales. I think people intending to sell who are serious will continue to price their homes at reasonable levels that will attract an offer. I also think that people have been beat up in the last couple of years and realize that many mistakes were made. Even if the economy improves, I predict caution from home buyers for many years. People will shop carefully and make home choices carefully. I will also tell you that from my perspective, having survived the housing market of 2008, and now the market of 2009, I am really looking forward to 2010.
Linda and I want to wish you a safe, healthy, and happy New Year.
A very merry Christmas and holiday season to each of you from Dianne and me!
Here are a few notes from Lake Oswego:
Millenium Park Plaza in Final Phase! ~ The improvements include a small grove of Fuji cherry trees, a water feature and an ADA standard ramp to improve accessibility. Views of Lakewood Bay will be enhanced, and there will be even more room for Lake Oswego’s famed Farmers’ Market and the Lake Run. The park will re-open in May of 2010 in time for Farmers’ Market.
Historic Belluschi House Moves to Marylhurst ~ A home built by noted Portland architect, Pietro Belluschi will stay in Lake Oswego after all. Many thanks to Marylhurst University, where it will receive a permanent home on campus, and be restored as a lasting reminder of Belluschi’s architectural legacy. It is truuly a work of mid-century modernist art, and was about to be demolished until Marylhurst came to the rescue. Fund-raising efforts are now underway to move and restore the house. Here is a link to a photo in ModernHomesPortland.com: Belluschi House
Coat Drive ~ Lake Oswego will be collecting coat for Clackamas County Women and Children’s Centers through the month of February. If you wish to donate, please stop by City Hall at 380 A Avenue, or call 503 635 0257.
Adult Community Center New Year’s Luncheon ~ Doors open on Wednesday, December 30th at 11:30 for this fabulous feast & opportunity to celebrate with your neighbors. Suggested donation is $4.00 for those 60 & older, and $5.00 for all other attendees. The Community Center is located at the intersection of 5th & G Avenues.
Safety ~ The Lake Oswego Fire Department reminds us to consider safety and the safety of those around us as we move through this beautiful holiday season fraught with its own unusual circumstances. We are not usually stringing lights all over our homes for instance, and do not usually place trees in our living rooms adorned with lights of their own. The snaps of really cold weather (which broke many pipes in town a week or so ago) add another twist as we haul out our space heaters on those super frosty days. Here is a link to some safety tips for you and your family: Safety at Holiday Time
Let’s face it, December is dark. The sun comes up about 7:30 and sets about 4:30. That’s just 9 hours of daylight. And that’s why Christmas lights are pretty darn important to me. I know they are put up to celebrate religious traditions. But as far as I am concerned they are put up for ME. I love them and need them to get through the month of the year with the shortest daylight. My own turkey barely has a chance to go cold on the counter before I am putting up my own Christmas lights. And I push the boundary on the other end too by leaving them up past Christmas. (Yes, one year I had them up until Valentine’s, but haven’t been that extreme in quite awhile.)
So when Linda and I first designed the propertyblotter, and had to think about what links we wanted permanently attached, the Christmas Ship Parade came immediately to mind. You will see our link to the Christmas Ships year around on our left tool bar. However, I don’t want to just assume that you have used it to see what it is all about. This year I want to point it out and suggest that you load up your car with family and a thermos of hot cocoa and drive over to Foothills Park on December 19th at about 6pm. This is the evening that the parade of lighted ships are scheduled to come as far South as George Rogers Park on the Willamette River. You can view them from George Rogers Park, and also from Roehr Park, but you would probably need to get out of your car. Personally, I love to sit in the car to watch them. Just find some Christmas music on the radio and stay toasty warm. When my children were little, we commonly did this with both of them bathed and in their pajamas.
There are about 20 or so ships that are organized and captained by volunteers. They do a nightly parade of both the Willamette and the Columbia Rivers with the evening parade location changing daily. I think the only time between now and Christmas that they will be as far South as LO is the 19th. If you are willing to drive North, you will be able to find them in other locations on other evenings. For a complete schedule, click here.
And if you want to find what I consider to be the top decorated house light displays, I want to recommend driving down Edenberry Drive in Westlake. The homeowners on the street go all out. It is gorgeous. Many of the side streets are also decorated. So swing through when you get the chance.
Enjoy the season. I know that I do: especially the Christmas lights.
There are 8 truly NEW properties in Lake Oswego this last week (I left two of them in here because they were off the market for 30 days), 6 that went to PENDING status, and 7 that SOLD. I am seeing activity across the board in all price ranges, and in all areas of Lake Oswego.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes): NEWLY LISTED (Dec. 7—Dec.13, 2009)
Address
List Price
# Beds
# Baths
Total SF
Prop Type
List Date
32 CERVANTES CIR
$148,500
2
1.1
1,092
CONDO
12/9/2009
1248 OAK ST
$249,900
2
1
900
DETACHD
12/11/2009
17756 WESTVIEW DR
$439,900
4
2.1
2,830
DETACHD
12/7/2009
14150 AMBERWOOD CIR
$659,000
3
2.1
2,500
DETACHD
12/7/2009
5245 LANGFORD LN
$719,000
3
2.1
2,957
DETACHD
12/13/2009
64 BERWICK RD
$759,000
4
3.1
3,740
DETACHD
12/7/2009
17833 MARYLCREEK DR
$950,000
5
4.1
6,540
DETACHD
12/10/2009
13961 KNAUS RD
$2,450,000
4
4.2
6,614
DETACHD
12/8/2009
PENDING SALES (Dec. 7 – Dec. 13, 2009)
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
3433 MCNARY PKWY
$100,000
2
2.1
1,208
CONDO
212
5 FALSTAFF ST
$385,000
4
2.1
2,433
DETACHD
141
1457 BOCA RATAN DR
$399,950
3
2
1,568
DETACHD
70
4191 CHAPMAN WAY
$409,000
4
2.1
2,610
DETACHD
194
106 GREENRIDGE CT
$449,000
4
3
3,127
ATTACHD
136
17404 BERGIS FARM DR
$1,098,000
5
4.1
5,394
DETACHD
326
SOLD (Dec. 7 – Dec. 13, 2009)
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
31 BECKET ST
$429,800
$400,000
3
2.1
2,365
DETACHD
98
16018 WALUGA DR
$415,000
$405,000
4
2
2,200
DETACHD
9
5 GARIBALDI ST
$574,800
$560,000
4
3.1
3,250
DETACHD
8
163 IRON MOUNTAIN BLVD
$799,000
$700,000
3
1.1
1,968
DETACHD
99
19422 LORNA LN
$805,000
$790,000
5
3.1
4,011
DETACHD
14
975 ENGLEWOOD DR
$899,000
$800,000
4
3.1
4,085
DETACHD
532
753 LAKESHORE RD
$1,385,000
$1,335,000
3
3.1
2,562
DETACHD
51
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.
Ok, so, it’s the holidays, and the Realtors are all running around serving their clients with Christmas trees on their car roofs… well, at least I am! Or was, earlier today. I visited another real estate office and noticed that I’m not the only one juggling real estate business and “extra” holiday activities and errands… and frankly we all are right now. So, I was thinking- What am I going to write about in the Property Blotter this time? I’ve got to take care of my clients and go shopping for Manicotti ingredients, champagne, Martinelli’s and all manner of other Christmas Party necessities. What will I write about? Food comes to mind of course.
I confess, I have been overextended into giving away some of my cooking secrets, and other hopefully interesting tidbits for the sake of expediency! What has the world come to? Anyway, here are a few little things I usually do not pass on to people… but for YOU??? Our Property Blotter reader? Here you go:
Manicotti: I make a killer Manicotti. It’s a well-known fact if I do say so myself, which is due to my dear Grandmother’s guidance and recipe… and which I am NOT giving you (she’d come after me from the afterlife!). So, you’ll have to come up with your own sauce and blend of cheeses, but I WILL tell you the biggest secret of all: ~How To Stuff Manicotti Noodles~ Basically, you stuff them while they’re hard. Using a pastry tube is something I incorporated last year and it worked much better than the “old country” method my Grandmother and I used, which was little by little with teaspoons. You stuff the noodles, line them up in a buttered pan till its filled with one layer, and pour your sauce over them all. Here comes the secret part: You then pour hot water… about 3/4 cup of it, around the edges of the pan, cover tightly with foil and bake according to your directions. The water steams the noodles, and your sauce retains the consistency you intended. Voila! (oops… not an Italian expression)
Hungarian Mushroom Soup: There is a restaurant in Portland called Old Wives Tales that is famous for this soup. I used to drive all the way there and take home large cartons of it. “Anything else, Miss?” “No. Just the soup please.” One day I experimented till I came up with nearly the same flavor. Sophisticated cooks will balk at this part, but I use 2 large cans of Cream of Mushroom Soup from the store. I then add several cloves of garlic (at least 5) chopped, at least a cube of butter, a 16 oz. carton of sour cream, 3 cartons of fresh sliced mushrooms from the produce section, one can of milk, and several tablespoons of paprika. Ta da! Secret, easy Hungarian Mushroom Soup.
Brussel Sprouts: For this I am going to give you a link to a great local cooking blog. A lot of people like to serve brussel sprouts during the holidays, and I believe there is some kind of superstition having to do with good luck when you eat them on New Year’s Eve. Anyway, this recipe is so good I can hardly describe it. The way you cook them is easy, involves lots of heavy cream and freshly squeezed lemon juice at the end. This method takes some of the “bite” our of them, and ends up sending you back for more till there are no leftovers. It’s that good (if you like brussel sprouts that is… and if you don’t, I’d suggest trying them this way to see if you change your mind). Here’s the link: Creamy Braised Brussel Sprouts
Ok, Addendum- Check. Closing Coordination- Check. Research- Check. Repair schedule- Check. Update Clients- Check. Documents Emailed- Check… Off to decorate the tree!
With just 5 pending sales and 8 closed sales last week, activity seems to be settling into the slower months of winter. However, we still had 20 new listings (not refreshed, truly new). At this time of year, people typically hold off on putting their house up for sale until after the holidays. To list your home now, you have got to be pretty motivated. I am suspicious that some of these homes are in financial trouble. I also know that corporations often move employees during the holidays if they are trying to close out a corporate year that matches the calendar year. Whatever the cause, we are back to more new listings than sales activity.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes): NEWLY LISTED (Nov. 30—Dec 6, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
59 GALEN ST
$99,000
1
1
550
CONDO
12/2/2009
334 CERVANTES CIR
$144,900
2
1
832
CONDO
12/4/2009
75 GALEN ST
$159,900
2
2
995
CONDO
12/1/2009
4 TOUCHSTONE
$190,000
3
2.1
1,351
CONDO
12/1/2009
287 CERVANTES
$195,000
3
1.1
1,144
CONDO
12/4/2009
45 SW EAGLE CREST DR
$205,000
3
2
1,348
CONDO
12/2/2009
100 LEONARD ST
$264,900
2
2
1,364
CONDO
12/3/2009
16890 CORTEZ CT
$324,900
4
3
2,016
DETACHD
12/4/2009
1841 CLOVERLEAF RD
349000
5
3
2,186
DETACHD
12/1/2009
837 OAK ST
380000
3
2
2,816
ATTACHD
11/30/2009
15 CHURCHILL DOWNS
380000
4
2
2,014
ATTACHD
11/30/2009
17942 SAINT CLAIR DR
524900
4
2.1
2,533
DETACHD
12/1/2009
1250 PINE ST
539000
4
2.1
2,856
DETACHD
12/3/2009
339 6TH ST
599900
3
3.1
2,258
ATTACHD
12/1/2009
18081 WESTMINSTER DR
599950
4
2.1
2,713
DETACHD
12/1/2009
15393 DIAMOND HEAD RD
756400
4
2.1
3,192
DETACHD
12/2/2009
1010 HOODVIEW LN
875000
4
3
3,058
DETACHD
11/30/2009
17802 SW Marylcreek DR
887900
3
4
3,825
DETACHD
12/6/2009
18175 PILKINGTON RD
899900
4
3.1
3,164
DETACHD
12/1/2009
444 6TH ST
1095000
4
4.1
4,541
DETACHD
12/1/2009
PENDING SALES (Nov. 30 -Dec 6, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# BR
# BTHS
Total SF
Prop Type
CDOM
668 MCVEY AVE
$143,550
3
1.1
992
CONDO
59
5077 W SUNSET DR
$299,900
2
2.1
1,720
ATTACHD
102
4051 VIRGINIA WAY
$339,900
3
2.1
1,658
DETACHD
58
2753 VALE CT
$402,000
3
3
2,786
DETACHD
31
1575 IVY CT
$515,000
4
3
2,432
DETACHD
56
SOLD (Nov. 30-Dec 6, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# BR
# BTHS
Total SF
Prop Type
CDOM
4 TOUCHSTONE CT
$137,900
$105,000
3
2.1
1,350
CONDO
371
14 POLONIUS ST
$300,000
$288,000
4
3
2,754
DETACHD
254
5096 SW TREE ST
$334,900
$318,000
3
1.1
1,410
DETACHD
462
1990 WEMBLEY PARK RD
$399,900
$390,000
4
3
3,162
DETACHD
27
2981 VALE CT
$512,450
$475,500
5
2.1
3,516
DETACHD
436
5382 ROYAL OAKS DR
$555,000
$492,500
4
2.1
2,970
DETACHD
194
135 FURNACE ST
$709,900
$647,000
2
2.1
1,927
CONDO
97
827 8TH ST
$898,000
$835,000
5
3.1
3,852
DETACHD
38
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.
There are 15 homes being promoted in the RMLS as Open Houses this Sunday. I will be holding open my condominium listing in Mt. Park: 4447 Golden Lane. I’ll be there from 1 to 4. I’d love to have you stop by.
There are 7 truly NEW properties in Lake Oswego this last week, 10 that went to PENDING status, and 8 that SOLD. We are doing pretty well this year as last year at this same time, while we also had 7 NEW, only 4 were PENDING and 4 SOLD. You’ll notice that last week, of 6 NEW listings, 5 of them were under $400,000. 6 out of 10 PENDING were also under $400,000, and 5 out of 8 SOLD were as well.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes): NEWLY LISTED (Nov. 23—Nov.29, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# Beds
# Baths
Total SF
Prop Type
List Date
5852 LAKEVIEW CT
$205,000
2
1
1,032
DETACHD
11/23/2009
16111 LINDSAY CT
$347,500
3
2.1
1,840
DETACHD
11/27/2009
454 5TH ST
$350,000
2
1.1
1,092
ATTACHD
11/28/2009
19167 LONGFELLOW AVE
$375,000
3
2.1
1,782
ATTACHD
11/23/2009
627 1ST ST
$375,500
2
2
2,090
DETACHD
11/27/2009
18269 TAMAWAY DR
$569,000
4
2.1
3,293
DETACHD
11/25/2009
355 6TH ST
$599,900
3
3.1
2,258
ATTACHD
11/29/2009
PENDING SALES (Nov. 23 -Nov. 29, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
86 KINGSGATE RD
$127,000
2
2
924
CONDO
236
26 WHEATHERSTONE
$225,000
3
2.1
1,692
CONDO
135
16584 ROOSEVELT AVE
$245,000
3
1
1,188
DETACHD
171
5686 WASHINGTON CT
$259,900
2
2
1,342
DETACHD
25
113 KINGSGATE RD
$275,900
3
2
1,436
DETACHD
94
18922 REDWING WAY
$379,900
4
2
2,076
DETACHD
105
4 ICARUS LOOP
$449,000
4
2.1
2,743
DETACHD
57
5502 Langford LN
$699,000
3
2.1
2,957
DETACHD
366
4380 UPPER DR
$708,900
5
4.1
4,071
DETACHD
111
17345 BERGIS FARM DR
$1,249,900
4
3.2
5,199
DETACHD
665
SOLD (Nov. 23-Nov. 29, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Sale Price
# Beds
# Baths
Total SF
Prop Type
CDOM
36 CERVANTES CIR
$159,900
$142,000
2
1.1
912
CONDO
337
73 OSWEGO SMT
$164,900
$145,000
2
2
1,212
CONDO
440
16600 BRYANT RD
$249,900
$224,000
3
2
1,877
DETACHD
106
3497 DEVONSHIRE DR
$259,900
$249,000
3
2
1,556
ATTACHD
145
1991 MAPLELEAF RD
$309,900
$309,000
3
2
1,456
DETACHD
14
1032 LAUREL ST
$424,000
$400,000
4
2
2,384
DETACHD
86
18410 DEERBRUSH AVE
$495,000
$450,000
4
2.1
2,217
DETACHD
78
1924 CHERYL CT
$1,299,000
$1,200,000
4
4.2
5,204
DETACHD
785
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.
Happy 2010 to each of you! I don’t know about you, but I can feel the excitement (and dare I say relief) in the air. It’s a new year, and things are looking good. Lake Oswego is already celebrating its Centennial, employment figures are up, real estate tax incentives are in full force (for a few months anyway), stocks started the year with a rally, and “the trend is still up” according to Rob Lutts, chief investment officer at Cabot Money Management.
The beginning of the year also always brings some legislative changes, like needing a hands-free device to talk on your cellphone in the car. The new law does, however “…exempt motorists who are on their hand-held cell phones ‘in the scope of the person’s employment if operation of the motor vehicle is necessary for the person’s job’.” Hmmmm, I wonder if that includes Realtors? Well, I think I’ll opt for safety anyway, but I can smell some friction (is that burning rubber?) ahead in the way of challenges to these minimum $142. tickets.
Realtor (or Dianne and I if you are without a Realtor) if you have any questions. Some of the changes could affect the timeline of your transaction if you are not aware of them. For instance, if a transaction includes any seller-carried financing, and the document is prepared by escrow, there is a 3-day mandatory review period… so if the Buyer is just seeing the document for the first time at signing, there will be a 3-day delay in closing. Also, you will notice that our ML#’s have gotten a bit longer. As we are starting a new decade, the ML#’s now start with “10”… so they’ll be longer numbers & have lots of zero’s for awhile : ) As an aside, the count on these, and therefore the number of new January listings as of today in Lake Oswego number 24, and range in price from $90,000 to $998,500.
Last, but definitely not least, I want to address the excitement of the ongoing Centennial Celebration in Lake Oswego. I’m including a link here to a pdf that has all kinds of historic Lake Oswego photos, and news stories from 1910. By that time Lake Oswego had been in existence for 60 years already. Three previous attempts at incorporation had failed due to fears around “additional regulations and taxation” (sound familiar?). Residents in First Addition were interested in: “promoting small businesses, water quality, fire protection, debate over the sale of alcohol, as well as government autonomy. The vote in favor of the measure was 79 to 22. Only men cast their ballots because Oregon women did not win the right to vote until 1912.” You really MUST check out this link. Some of the headlines read: “City Government Controls Width of Tires”, “Buy a Lake-Front Lot for $50.”, “Oswego’s Bear Population”, “Illiterate Cows”, “Pig Penmanship”, and many, many more.
I think the best thing I can say about the Lake Oswego real estate market of 2009 was that it wasn’t 2008. Remember a year ago? We’d seen the collapse of some of the Nation’s largest banks, the first bailout/stimulus package had been put into play, and the entire Nation was in a wait and see mode as the country transitioned to a new Presidency. It was a very difficult time. And it makes today’s market feel, well, pretty darn good.
A very merry Christmas and holiday season to each of you from Dianne and me!
Adult Community Center New Year’s Luncheon ~ Doors open on Wednesday, December 30th at 11:30 for this fabulous feast & opportunity to celebrate with your neighbors. Suggested donation is $4.00 for those 60 & older, and $5.00 for all other attendees. The Community Center is located at the intersection of 5th & G Avenues.
Let’s face it, December is dark. The sun comes up about 7:30 and sets about 4:30. That’s just 9 hours of daylight. And that’s why Christmas lights are pretty darn important to me. I know they are put up to celebrate religious traditions. But as far as I am concerned they are put up for ME. I love them and need them to get through the month of the year with the shortest daylight. My own turkey barely has a chance to go cold on the counter before I am putting up my own Christmas lights. And I push the boundary on the other end too by leaving them up past Christmas. (Yes, one year I had them up until Valentine’s, but haven’t been that extreme in quite awhile.)
Ok, so, it’s the holidays, and the Realtors are all running around serving their clients with Christmas trees on their car roofs… well, at least I am! Or was, earlier today. I visited another real estate office and noticed that I’m not the only one juggling real estate business and “extra” holiday activities and errands… and frankly we all are right now. So, I was thinking- What am I going to write about in the Property Blotter this time? I’ve got to take care of my clients and go shopping for Manicotti ingredients, champagne, Martinelli’s and all manner of other Christmas Party necessities. What will I write about? Food comes to mind of course.