Tag: Lake Oswego Oregon

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News & Notes ~ August Numbers

Here are the August numbers for Portland and the Lake Oswego/West Linn areas (RMLS lumps them together).

According to the RMLS Market Action Report for the Portland Metro Area, August, 2015:

  • There were 3,880 New Listings in August which was down a full 9.2% from the previous month/July, but up 8.3% from August of 2014.
  • At 3,098 August Closed Sales fell 10.3% from July’s numbers, and were up  19.8% from August of 2014.
  • August Pending Sales (accepted offers), at 3,347 were down 4.2% from the previous month, and fared 23.8% better than August of 2014.
  •  The Average Sale Price in August of $364,600 was down  $4,500. from July’s Average of $369,100, and up $24,600 from August of 2014’s $340,000. 

The combined areas of Lake Oswego and West Linn  for the month of August 2015 reported:

    •  454 Active Listings  (July was 447)
    •  228 New Listings   (July was 253)
    •  181 Pending Sales    (July was 190)
    •  181 Closed Sales   (July was 201)
    • Average Sale Price for August of $574,800. (July/$570,800)
      • 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: 59 Days (July was 65)
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Market Activity ~ Sept 21-27, 2015

Last week in Lake Oswego we saw 19 New properties enter the market, 24 move to Pending status, and 16 “Closed”/Sold.

Following is the breakdown for you according to RMLS for last week:

NEW on Mkt (Sept 21-27, 2015)

Address List Price # Beds # Baths Total SF Prop Type
3696 SPRING LN #3B $269,900 2 2 1117 CONDO
15 GREENRIDGE CT $359,000 3 2.1 1996 ATTACHD
15213 QUARRY RD $399,000 3 2 1761 DETACHD
5336 TREE ST $399,950 4 2 1696 DETACHD
14314 ORCHARD SPRINGS RD #35 $434,000 5 3 2238 DETACHD
6192 HARRINGTON AVE $498,800 5 3 2817 DETACHD
6059 FROST LN $508,000 4 2.1 2281 DETACHD
5875 BONITA RD $519,000 5 3.1 2650 DETACHD
6 GROUSE TER $544,900 3 3 3576 DETACHD
4312 WOODSIDE CIR $548,000 3 2.1 2678 ATTACHD
4724 AVERY LN $649,900 4 2.1 2731 DETACHD
1255 BICKNER ST $875,000 4 2.1 2764 DETACHD
5459 WESTFIELD CT $924,900 5 3.1 3670 DETACHD
817 HOODVIEW LN $1,135,000 5 3 3446 DETACHD
1495 COUNTRY CLUB RD $1,175,000 4 2.2 4028 DETACHD
556 7TH ST $1,295,000 5 3.1 3911 DETACHD
12838 ALTO PARK RD $1,439,000 4 3.1 4475 DETACHD
13560 FIELDING RD $3,500,000 5 6.1 5310 DETACHD
1500 NORTHSHORE RD $15,000,000 5 6.3 13462 DETACHD

PENDING SALES (Sept 21-27, 2015)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4000 CARMAN DR #88 $149,000 2 2 836 CONDO 15
4000 CARMAN DR #33 $165,000 2 2 1100 ATTACHD 3
4 Touchstone #155 $168,000 3 2.1 1351 CONDO 4
5225 JEAN RD #201 $224,900 3 2 1500 CONDO 34
5835 CARMAN DR $273,900 2 2.1 1650 DETACHD 20
4405 THUNDER VISTA LN $275,000 2 2.1 1922 CONDO 11
4458 THUNDER VISTA LN $279,000 2 2.1 2200 CONDO 76
16200 PACIFIC HWY #22 $299,000 2 2 1190 CONDO 7
4226 WOODSIDE CIR $329,900 3 2 1578 ATTACHD 12
4200 UPPER DR $350,000 3 1 1371 DETACHD 59
16500 LAKE FOREST BLVD $357,500 3 1 960 DETACHD 5
937 OAK ST $439,000 3 3 3153 DETACHD 40
18357 HEATHER ANN CT $439,900 3 2 1832 DETACHD 2
2301 WEMBLEY PARK RD $460,000 3 2.1 1864 DETACHD 17
7 FALSTAFF ST $549,900 5 2.1 2740 DETACHD 11
3232 WEMBLEY PARK RD $549,900 4 3.1 2805 DETACHD 108
4176 UPPER DR $550,000 5 3 2968 DETACHD 59
311 3RD ST $678,988 3 3.1 2123 ATTACHD 18
14036 MAJESTIC CT $695,000 6 3.2 4995 DETACHD 157
1943 INDIAN TRAIL $869,850 3 2.1 2960 DETACHD 4
475 8th ST $979,000 4 2.1 2699 DETACHD
583 2ND ST Upper $1,100,000 2 2.1 2190 CONDO 142
1075 CHANDLER RD $1,975,000 5 4.1 5710 DETACHD 48
16842 ALDER CIR $4,750,000 5 3.2 5144 DETACHD 68

SOLD  (Sept 21-27, 2015)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #51 $90,000 $90,000 1 1 666 CONDO 9
668 MCVEY AVE Grnd $199,900 $189,500 2 1.1 976 CONDO 73
3864 BOTTICELLI ST Main $189,000 $197,000 2 1.1 1132 CONDO 3
200 BURNHAM RD #305 $269,900 $249,900 2 2 1328 CONDO 46
4097 JEFFERSON PKWY $259,000 $260,000 2 2.1 1359 CONDO 6
17872 PILKINGTON RD $254,900 $265,100 3 2 1056 DETACHD 30
17766 MARYLCREEK DR $769,000 $720,000 4 3.1 4439 DETACHD 68
5635 BAY CREEK DR $799,900 $800,000 4 2.1 3036 DETACHD 10
5484 WESTFIELD CT $795,000 $816,000 4 2.1 3062 DETACHD 3
1189 SUNNINGDALE CT $849,000 $831,000 3 2.1 2072 DETACHD 0
815 OAK ST $945,000 $905,000 4 3.1 3709 DETACHD 52
2464 PALISADES CREST DR $1,199,000 $960,000 4 2.1 3897 DETACHD 135
14355 FOSBERG RD $1,100,000 $977,000 5 3.1 5536 DETACHD 0
18347 LOTHLORIEN WAY $1,098,000 $1,000,000 5 3.2 4141 DETACHD 27
17320 LAKE HAVEN DR $1,235,000 $1,100,000 4 3 2703 DETACHD 212
1858 Highland LOOP $1,950,000 $2,350,000 4 4.1 4000 DETACHD

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 14th to 20th, 2015

Wow lots of new listings have hit the market within the week. Among those 27 houses my mother has a new listing that you have just got to check out at 2 Walking woods dr! What a beautiful house.
20 homes are currently in escrow, which means that the fall is shaping up to continue this busy trend.
And 20 closes this last week. Congrats you guys!

Following is the breakdown for you according to RMLS for last week:

New on the Market (Sept 14-Sept 20, 2015)

Address Type Price Bedrooms Bathrooms Sqft
16250 PACIFIC HWY #54 CONDO 154,900 1 1 841
4405 THUNDER VISTA LN CONDO 275,000 2 2.5 1922
235 CERVANTES CONDO 329,000 2 2 1100
12802 BOONS FERRY RD CONDO 339,000 3 2.5 1454
4226 WOODSIDE CIR ATTACHED 339,900 3 2 1578
14752 DAVIS LN ATTACHED 445,000 3 2.5 1954
55 NORTHSHORE RD #4 CONDO 474,500 2 2 1554
17280 WESTVIEW DR DETACHED 487,000 3 3 2324
9 FALSTAFF ST DETACHED 509,000 4 2.5 2436
5063 CENTERWOOD ST DETACHED 519,000 4 3 2094
1273 ROCKINGHORSE LN DETACHED 575,000 3 2.5 2192
2215 FERNWOOD CIR DETACHED 599,000 4 3 2640
2 WALKING WOODS DR DETACHED 629,000 4 3 4116
15837 ALLISON PL DETACHED 679,000 4 2.5 3534
37 DA VINCI ST DETACHED 699,900 4 2.5 2152
17440 BLUE HERON RD DETACHED 719,000 3 3 2549
17433 BROOKHURST DR DETACHED 749,000 5 4.5 4002
14113 AMBERWOOD DIR DETACHED 749,000 4 2.5 3514
599 7TH ST DETACHED 800,000 4 3 2468
17454 CANAL CIR DETACHED 805,000 3 2.5 2475
5440 SOUTHWOOD DR DETACHED 809,000 4 2.5 3470
637 3RD ST ATTACHED 837,000 3 2.5 2643
625 3RD ST ATTACHED 837,000 3 2.5 2643
5051 LAKEVIEW BLVD DETACHED 949,800 4 3.5 3355
4112 ORCHARD WAY DETACHED 950,000 5 4 4190
4120 CANAL RD DETACHED 1,150,000 4 3.5 4104
2445 GLENMORRIE DR DETACHED 1,385,000 5 5 5106

Pending Sales (Sept 14-Sept 20, 2015)

Address Type Price Bedroom Bathrooms DOM
100 KERR PKWY CONDO 144,900 2 2 3
86 KINGSGATE RD D105 CONDO 159,900 2 2 5
17 CRESTFIELD CT CONDO 163,000 2 1 0
5052 FOOTHILLS DR F CONDO 220,000 3 2 2
4343 BEASLEY WAY DETACHED 250,000 2 2 7
1638 BOCA RATAN DR ATTACHED 269,500 3 1.5 19
1325 BONNIEBRAE DR ATTACHED 274,900 3 2 2
18561 SW KRISTI WAY DETACHED 349,000 3 2.5 1
18690 DON LEE WAY DETACHED 350,000 3 2 8
25 ORIOLE LN DETACHED 439,975 3 2 32
39 NOVA CT DETACHED 539,000 4 2.5 4
4403 OAKRIDGE RD ATTACHED 539,000 3 2.5 0
4926 MULHOLLAND DR ATTACHED 550,000 3 2.5 1
207 EVERGREEN DR ATTACHED 582,000 3 3.5 37
13265 FOX RUN DETACHED 625,000 4 2.5 3
49 BRIARWOOD RD DETACHED 650,000 3 2 5
240 MARYLVIEW CT DETACHED 739,000 4 2.5 24
17766 MARYCREEK DR DETACHED 749,000 4 3.5 68
13084 KNAUS RD DETACHED 799,000 4 2.5 45
1874 GLENMORRIE TER DETACHED 850,000 3 3 295

Sold/Closed  (Sept 14-Sept 20, 2015)

Address Type List Price Close Price Sqft DOM
47 EAGLE CREST DR #14 CONDO 100,000 87,500 666 105
44 EAGLE CREST DR #10 CONDO 93,900 90,000 798 56
4045 JEFFERSON PKWY CONDO 230,000 230,000 1182 3
5061 FOOTHILLS DR E CONDO 209,900 231,500 991 3
4433 THUNDER VISTA LN CONDO 274,900 278,000 1980 50
39 CONDOLEA CT CONDO 375,000 347,500 2198 39
147 KINGSGATE RD DETACHED 349,900 350,600 1120 20
523 2ND ST #105 CONDO 489,000 459,000 1208 20
13951 SHIREVA CT DETACHED 499,900 489,000 2185 117
1161 UPPER DEVON LN DETACHED 560,000 525,000 2265 420
18121 PIONEER CT DETACHED 550,000 550,000 2310 5
4004 MELISSA DR DETACHED 625,000 600,000 2865 133
1545 CLOVERLEAF RD DETACHED 640,000 600,000 2723 37
18117 WESTMINSTER DR DETACHED 675,000 690,000 3233 1
13852 AMBERWOOD CIR DETACHED 775,000 740,000 3032 17
14360 UPLANDS DETACHED 849,000 837,000 2577 31
3950 EDENS EDGE DR DETACHED 1,149,850 1,075,000 4427 45
3967 CANAL RD DETACHED 1,199,800 1,100,000 3875 36
400 D AVE DETACHED 1,239,000 1,150,000 4000 22
401 9TH ST DETACHED 1,590,000 1,275,000 4288 138

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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Consumer Protection and Closing your purchase/sale

I think we all realize that after the debacle of the housing bubble and melt-down of the mortgage industry in 2007 some major changes needed to happen. I have seen 2 implemented already and a 3rd is just about to be rolled out.

The first two were 1) tighter lending regulations that force a buyer to actually prove that they are qualified for a mortgage, and 2) tighter appraisal regulations that force appraisers to factually prove the value of a house.

The 3rd is designed to protect the mortgage borrower. Essentially what it does is it forces lenders to be accurate from the beginning so that a borrower does not run into any surprises at closing. It also builds in waiting periods so that a borrower has time to reflect upon the costs of their new mortgage and not be pressured into a loan that will not serve them well.

The first deadline occurs when a loan application is made. Within 3 days of the application the borrower(s) must receive a Loan Estimate, coming to be called an “LE”. Then, 3 days prior to signing their loan documents the borrower(s) must receive a Closing Disclosure, coming to be called a “CD”. The costs comparing the 2 documents must be within 1/8th (.0125) of the APR, annual percentage rate. If there is an overage, it is the fault of the lender and must be paid by the lender. This way the borrower is not going to be Oswego-Lakesurprised by unexpected loan costs and their experience should be less stressful.

Be aware that this system is going to create delays in closing on a purchase.

The biggest issue is that changes happen in a transaction. The sales price might change as a result of repair issues, the borrower may decide they want a different loan product, any number of changes can happen. In the past when this happened the loan application could simply be modified. There was lots of flexibility in the process. With the new regulations when this happens now essentially a new loan is applied for and the waiting periods begin again.

It is normal when you are buying a home to be excited to get into it. It is especially normal when selling a home to want to close as quickly as you can to know it is final and to receive your proceeds. Closing in 30-45 days has been the practice. With the new guidelines I believe closings will take at least an additional week or two. So plan on closings in 45-60 days, if not more.

The other issue is that mortgage companies and banks are being given all of the same regulations but are being allowed to determine their own methods for implementing them. It is very specific that both the LE and the CD go to all parties. I learned in a recent class I took on the matter that some of the larger lenders are thinking about using the US Postal service to send the notifications. Seriously? What if one of the parties is out of the country? Talk about creating delays. Flexibility will be the name of the game as these changes are implemented.

As a buyer and as a seller, please avoid the blame game. If these new regulations do create delays, don’t blame the other party to the transaction. They have no control over this and there are going to be kinks as Realtors, Title Companies, and Mortgage Companies implement systems and iron out the kinks.

Last, if you happen to have a home that is at least 3200 square feet, newer, with at least a 3 car garage that you want to sell here in LO, call me! I have a buyer who has seen everything out that and is chomping at the bit!
Dianne

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Market Activity Aug 31-Sept 13, 2015

This summer has been incredibly busy and last week was no exception. I am so grateful to Linda and Whitney for helping with this blog. Our village may be just the 3 of us, but it does take a village. With that in mind, this week’s market activity report is covering a 2 week period. In that time period there were 34 new listings, 40 pending sales, and 31 sold/closed homes.

Following is the breakdown for you according to RMLS for last week:

New on the Market (Aug 31-Sept 13, 2015)

Address Type Price Bedrooms Baths Sq Ft
4000 Carman Dr #88 Condo $149,000 2 2 836
86 Kingsgate Rd D105 Condo $159,900 2 2 $924
48 Eagle Crest Dr 5E Condo $205,000 2 2 1443
210 State St #4 Condo $219,900 2 1 1284
4343 Beasley Way Detached $250,000 2 2 1110
4434 Thunder Vista Ln Attached $254,900 2 2.5 1970
1638 Boca Ratan Dr Attached $269,500 3 1.5 1403
5835 Carman Dr Detached $273,900 2 2.5 1650
18690 Don Lee Way Detached $350,000 3 2 1136
668 McVey Ave #57 Condo $350,000 3 1.5 985
18820 65th Ave Detached $399,900 3 2.5 2268
3674 Carman Dr Attached $449,000 3 2.5 1965
2301 Wembley Park Rd Detached $460,000 3 2.5 1864
4401 Oakridge Rd Attached $499,900 2 2.5 1702
17520 Redfern Ave Detached $549,900 3 2 1776
7 Falstaff St Detached $549,900 5 2.5 2740
1731 Woodland Terrace Detached $595,000 4 2.5 2714
13265 Fox Run Detached $625,000 4 2.5 2614
17927 Ridge Lake Dr Detached $649,000 4 2.5 2544
311 3rd St Attached $678,988 3 3.5 2123
2979 Rivendell Rd Detached $684,900 4 2.5 2537
SW Carman Dr Detached $699,900 3 2.5 2751
17337 Cedar Rd Detached $719,000 4 3.5 3080
20 Juarez St Detached $760,000 5 4 3464
5366 Amberwood Ct Detached $775,000 5 2.5 2878
13461 Streamside Dr Detached $796,000 4 2.5 3321
1061 Yates St Detached $839,900 3 3.5 2837
4855 Upper Dr Detached $849,000 4 3 2852
16633 Woodsman Ct Detached $949,900 4 4 4131
14261 Uplands Dr Detached $989,000 5 4 3843
1145 Timberline Dr Detached $1,065,000 4 2 4564
18036 Eastridge Ln Detached $1,150,000 4 3.5 4526
16686 Maple Circle Detached $1,195,000 4 3.5+.5 3311
13197 Thoma Rd Detached $1,495,000 3 3 3560

Pending Sales (Aug 31-Sept 13, 2015)

Address Type Price Bedrooms Baths Sq Ft DOM
47 Eagle Crest DR #20 Condo $104,000 2 1 1009 87
100 Kerr Pkwy #36 Condo $115,500 1 1 631 14
53 Galen Rd Condo $161,000 2 2 993 24
3433 McNary Pkwy #704 Condo $169,000 2 2 1008 46
4 Touchstone #152 Condo $168,900 3 2.5 1275 3
3433 McNary Pkwy #401 Condo $179,900 2 2.5 1208 14
668 McVey Ave Condo $194,900 2 1.5 976 73
4851 Madrona St Detached $215,000 3 2 1434 92
16250 Pacific Hwy #42 Condo $234,900 2 2 1350 17
3926 Carman Dr Condo $234,900 2 2.5 1129 66
200 Burnham Rd #408 Condo $249,000 2 2 1305 21
27 Aquinas St Detached $342,000 3 2.5 1568 73
16735 Lake Forest Blvd Detached $349,900 3 2 1192 19
3190 Duncan Dr Detached $375,000 3 2.5 2401 223
4871 Centerwood St Detached $375,000 4 3 2619 194
885 McVey Ave Detached $379,000 3 1 1292 3
89 Kingsgate Rd Detached $399,990 3 2.5 1713 15
1559 Worthington St Detached $409,900 4 2 2016 83
26 Spinosa Detached $419,900 3 2.5 2065 55
4330 Orchard Way Detached $445,000 4 2.5 2099 6
15144 Boones Way Detached $449,950 4 3.5 2409 37
3180 Edgemont Rd Detached $475,000 3 2.5 1704 5
12635 Adrian Ct Detached $549,000 4 2.5 2662 516
18121 Pioneer Ct Detached $550,000 4 2.5 2310 5
1161 Upper Devon Ln Detached $560,000 4 2.5 2265 420
15590 Tanager Dr Detached $569,900 4 2.5 2532 31
15001 Twin Fir RD Detached $585,000 4 3 2664 172
18086 Jenifers Way Detached $699,000 3 2.5 2582 49
13836 Amberwood Circle Detached $699,500 3 2.5 4183 184
13010 Sierra Vista Dr Detached $719,900 5 3.5 3450 142
13060 Elk Rock Rd Detached $725,000 5 3 3681 155
5833 Stewart Glenn Ct Detached $815,000 4 2.5 3258 52
1361 Country Commons Detached $995,000 3 2.5 3118 28
151 Berwick Rd Detached $998,500 4 3 4387 50
595 D Ave Detached $1,050,000 3 3 3760 75
2464 Palisades Crest Dr Detached $1,095,000 4 2.5 3897 118
454 9th St Detached $1,125,000 3 4 3278 25
17327 Kelok Rd Detached $1,150,000 3 3 2300 145
1097 Chandler Rd Detached $2,075,000 4 4.5 5313 410
1653 Lake Front Rd Detached $3,900,000 5 5.5 6274 175

Sold/Closed  (Aug 31-Sept 13, 2015)

Address Type List Price Sold Price Sq Ft CDOM
203 Oswego Summit Condo $174,900 $175,900 1506 357
3652 Spring Ln Condo $175,000 $180,000 1117 3
48 Eagle Crest Dr 4E Condo $209,900 $204,000 1489 12
3812 Botticelli St Condo $239,000 $220,000 1,200 $47
196 Cervantes Condo $239,900 $240,000 1241 12
48 Eagle Crest Dr Condo $250,000 $245,000 1550 169
12844 Boones Ferry Rd Condo $315,000 $306,900 1334 19
16536 Inverurie Rd Detached $315,000 $315,000 1064 4
16173 Lake Forest Blvd Detached $315,000 $315,000 1334 77
434 5th St Condo $324,900 $323,200 1092 4
5467 Kenny St Detached $345,000 $329,000 960 0
15879 Kimball St Detached $349,900 $352,277 1076 11
210 S State ST #9 Condo $366,000 $353,000 1516 12
27 Da Vinci St Detached $477,500 $472,250 2820 83
143 Kingsgate Rd Detached $475,000 $476,500 2,110 8
92 Tanglewood Dr Detached $529,950 $499,000 2600 23
855 G Ave Detached $599,000 $509,000 3165 5
41 Spinosa Detached $519,000 $535,000 2389 2
13010 Sierra Ct Detached $545,000 $555,000 3065 1
1270 Hida A Way Ct Detached $625,000 $625,000 2312 4
891 G Ave Detached $625,000 $635,000 2431 2
55 Northshore Rd #11 Condo $749,000 $647,000 1910 93
139 Del Prado St Detached $699,000 $675,000 2895 77
4833 Hastings Dr Detached $665,000 $701,970 2831 1
5148 Woodcrest Ln Detached $699,900 $735,111 3110 3
13447 Streamside Ct Detached $899,000 $830,000 3609 48
796 1st ST Detached $885,000 $841,350 4108 355
426 7th St Detached $925,000 $976,600 3046 4
18245 River Edge Ct Detached $1,100,000 $995,000 4830 18
18825 River Edge Ct Detached $1,390,000 $1,329,000 6620 450
778 Cabana Ln Detached $1,849,000 $1,750,000 3343 145

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 Aug 24th – 30th, 2015

Summer is starting to wind down, especially with school starting. You can tell that there is just that slight crisp tone in the air letting you know that the leaves are going to start changing color and cover the ground in brilliant golds, oranges, and reds.
For a moment there the market felt like it was starting to follow suit, though there has been a slight hike in sales (especially condos).

Following is the breakdown for you according to RMLS for last week:

New on the Market (Aug 24th-30th, 2015)

Address Type Price Bedrooms Bathrooms Sqft
100 KERR PKWY #36 CONDO 115,500 1 1 631
4619 LAKEVIEW BLVD CONDO 116,500 1 1 753
1228 CEDAR ST DETACHED 349,500 3 2 1302
89 KINGSGATE RD DETACHED 399,990 3 2.5 1713
5363 GREYSTOKE DR DETACHED 439,900 3 2 1568
4330 ORCHARD WAY DETACHED 445,000 4 2.5 2099
18275 PILKINGTON RD DETACHED 459,000 3 2 2088
2470 MARYLVIEW CT DETACHED 739,000 4 2.5 3486
13000 ROGERS RD DETACHED 769,000 3 2.5 3252
5959 SUNCREEK DR DETACHED 799,000 4 2.5 3315
15825 OSWEGO SHORE CT DETACHED 2,200,000 3 3.5 4317
18060 EASTRIDGE LN DETACHED 2,995,000 4 4.2 5111

PENDING SALES (Aug 24th-30th, 2015)

Address Type Price Bedroom Bathrooms DOM
4 TOUCHSTONE #153 CONDO 145,000 2 2 32
319 CERVANTES CONDO 199,900 3 2 14
1448 BONNIEBRAE DR ATTACHED 250,000 2 1.5 1
17872 PILKINGTON RD DETACHED 254,900 3 2 30
4097 JEFFERSON PKWY CONDO 259,000 2 2.5 6
210 SSTATE ST #3 CONDO 297,500 2 1.5 21
1819 BOCA RATAN DR ATTACHED 299,999 3 2 3
27 AQYINAS ST DETACHED 380,000 3 2.5 57
19113 TERRY AVE DETACHED 415,000 3 2 3
937 OAK ST DETACHED 445,000 3 3 10
7 HIDALGO DETACHED 445,500 3 2.5 124
1648 ASH ST DETACHED 449,900 3 2 2
14674 RAINBOW DR DETACHED 569,000 4 3 44
865 PALISADES TERRACE DR DETACHED 579,000 3 3 43
5466 BAY CREEK DR DETACHED 615,000 3 3 35
WESTVIEW DR DETACHED 624,950 4 2.5 1117
2322 STONEHURST CT DETACHED 699,000 4 2.5 41
14102 GOODALL RD DETACHED 900,000 3 2.5 57
5220 FIRWOOD RD DETACHED 1,125,000 3 2.5 8
17388 CEDAR RD DETACHED 2,395,000 4 3.5 218

SOLD  (Aug 24th-30th, 2015)

Address Type List Price Close Price Sqft DOM
103 OSWEGO SMT #103 CONDO 144,549 135,000 1116 283
100 KERR PKWY #1 CONDO 159,500 139,000 1188 94
53 CHURCH ST CONDO 153,500 153,500 588 3
200 BURNHAM RD #300 CONDO 189,900 169,000 973 84
5849 FERNBROOK CIR DETACHED 27,500 256,500 1239 94
6331 SHAKESPEARE ST DETACHED 314,900 295,000 922 67
5882 KENNYCROFT WAY DETACHED 315,000 306,000 1272 34
4725 LAKEVIEW BLVD DETACHED 349,900 347,500 1589 18
1268 SPRUCE ST DETACHED 399,000 399,000 2009 108
5725 WINDFIELD LOOP DETACHED 424,950 40,500 1615 14
4545 DOGWOOD DR DETACHED 519,000 519,000 2483 2
15518 HERITAGE CT DETACHED 565,000 525,000 2700 66
13611 BLAZER TRL DETACHED 519,900 536,899 2549 3
31 WALKING WOODS DR DETACHED 500,000 550,000 2889 3
19664 RIVER RUN DR DETACHED 599,900 565,000 3051 84
3752 TEMPEST DR DETACHED 583,000 588,000 3017 3
17721 OVERLOOK CIR DETACHED 599,900 594,000 3172 44
16750 PHANTOM BLUFF CT DETACHED 614,500 607,250 2267 22
7140 CHILDS RD DETACHED 649,900 630,000 2600 9
4896 HASTINGS DR DETACHED 650,000 650,000 2785 30
18168 WESTMINSTER DR DETACHED 749,000 700,000 4220 112
15960 PARKER RD DETACHED 720,000 722,500 2566 9
5864 STEWART GLENN CT DETACHED 790,000 760,000 3224 69
1034 CEDAR ST DETACHED 795,000 799,500 2895 13
1944 PALISADES TERRACE DETACHED 994,000 887,930 4256 35
17469 KELOK RD DETACHED 1,175,000 1,200,000 2675 4
1000 ATWATER RD DETACHED 2,095,000 1,962,500 6391 120
1345 CHANDLER RD DETACHED 2,695,000 2,398,000 6800 98

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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The Importance of 5%

l-lake-oswego-mansionOne of the most important services that I give to my clients is advising them about price. For people whose homes I am selling that advice is my opinion of what their house is worth. For people that I am helping to buy a home, that advice is what to offer. Both of these situations have in common the importance of 5%.

When you are selling your home
The first step in selling your home is consulting with a Realtor. I do a lot of preparation when I go into these appointments. I spend time on line looking at the statistics of home sales in the neighborhood, and then I spend time driving around the area looking at the comparable properties. Every neighborhood has a range of values, depending upon the amount of remodeling that has been done. So when I sit down with homeowners, I am pretty informed about what I want to advise. I am looking to list the house within 5% of what I think it is worth. I know that within this percentage the house is likely to sell. Higher than 5% and I know it will take a bit of a miracle to get the house sold, will lead to a potentially extended marketing time, and will likely end up with a lower final sales price.

So if you are planning to sell your home, please listen to your Realtor and take their recommended price very seriously. Please don’t list for more than 5% over the recommended price.

And if you have made the mistake of over-pricing, and it is time to do a price reduction, the reduction needs to be at least 5% to have an impact on the market.

For buyers making offers
The same 5% holds true when you go to make an offer. If you offer within 5% you have a high likelihood of coming to an agreement. If you offer less, it can shut down negotiations by offending the home owner. There are exceptions to this. I have learned to write whatever my buyer wants me to write because I have had low offers accepted that surprised me. It really comes down to the sellers situation and their motivation. But from my experience low offers generally do not come together. If you really want the house, offer within 5% of the listed price.

Good luck with your house hunting! And remember Whitney, Linda and I are hear to help if you need some great real estate advice.
Dianne

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Market Activity Aug 17-23, 2015

I have actually noticed a little chill in the air in the last couple of nights. We are still having gorgeous weather, but I am looking forward to the slight amount of rain forecast for the weekend. My yard will enjoy it and it will be a blessing for those fighting the forest fires in Eastern Oregon and Washington.

I would describe the current real estate market as healthy but not over heated. Last week Lake Oswego had 19 new listings, 15 pending sales, and 24 closed sales.

Following is the breakdown for you according to RMLS for last week:

New on the Market (Aug 17-23, 2015)

Address Type Price Bedrooms Baths Sq Ft
668 McVey Ave #41 Condo $149,900 1 1 485
3433 McNary Pdwy #401 Condo $179,900 2 2.5 1208
16250 Pacific Hwy #42 Condo $234,900 2 2 1350
4097 Jefferson Pkwy Condo $259,000 2 2.5 1359
200 Burnham Rd #210 Condo $375,000 3 2 1966
19113 Terry Ave Detached $415,000 3 2 1454
937 Oak St Detached $445,000 3 3 3156
6 Independence Detached $644,000 3 2 2900
5533 Kenny St Detached $607,000 4 3 2900
4810 Lakeview Blvd Detached $839,000 4 4.5 3511
18970 Bryant Rd Detached $849,900 4 3 3154
18711 Westview Dr Detached $949,900 4 3.5 3591
822 6th St Detached $1,099,900 4 3 2748
806 6th St Detached $1,109,900 4 2.5 2730
5220 Firwood Rd Detached $1,125,000 3 2.5 2507
19354 Lorna Ln Detached $1,199,000 4 3.5 4169
13180 Thoma Rd Detached $1,250,000 5 4.5 5043
1300 Forest Meadows Way Detached $1,495,000 5 3.5 4082
1355 Country Commons Detached $1,995,000 4 3.5 4238

PENDING SALES (Aug 10-16, 2015)

Address Type Price Bedrooms Baths Sq Ft DOM
4 Touchstone #153 Condo $145,000 2 2 1031 21
53 Galen Rd Condo $159,900 2 2 993 5
668 McVey Ave #44 Condo $175,000 1 1 636 54
5225 Jean Rd #201 Condo $224,900 3 2 1500 3
48 Eagle Crest Dr 3B Condo $246,900 2 2 1489 9
147 Kingsgate Rd Detached $349,900 2 2 1120 20
4141 Childs Rd Detached $360,000 3 2 1339 11
17347 Ashley Ct Attached $459,900 4 2.5 2117 13
6155 Frost Ln Detached $478,888 4 2.5 2364 118
5724 La Mesa Ct Detached $784,900 5 2.5 3669 21
18383 Old River Dr Detached $879,000 4 4.5 4548 60
17980 Kelok Rd Detached $899,900 4 2.5 2969 26
17320 Lake Haven Dr Detached $1,100,000 4 3 2703 212
18225 River Edge Ct Detached $1,390,000 5 4.5+.5+.5 6620 452
2793 Poplar Way Detached $1,699,000 5 5.5 6536 16

SOLD  (Aug 10-16, 2015)

Address Type List Price Sold Price Sq Ft CDOM
41 Oswego Summit Condo $95,000 $95,000 764 865
100 Kerr Pkwy #35 Condo $109,900 $99,000 671 41
47 Eagle Crest Dr #27 Condo $129,000 $126,000 947 36
100 Kerr Pkwy #27 Condo $139,000 $137,000 820 8
4 Touchstone #146 Condo $137,500 $141,000 979 48
4000 Carman Dr #25 Condo $143,500 $152,000 836 4
5225 Jean Rd #203 Condo $219,950 $219,950 1400 16
16538 Carnegie Ave Detached $220,000 $240,000 1182 479
5132 Timbergrove Detached $380,000 $320,000 1430 11
17225 Greentree Ave Detached $385,000 $385,000 2704 2
1528 Cedar St Detached $445,622 $440,000 2760 5
15601 Tanager Detached $435,000 $445,000 2046 13
17359 Ashley Ct Detached $475,000 $468,900 2370 32
148 5th St Detached $495,000 $480,000 1314 0
1097 Clara Ct Detached $599,900 $587,500 2,935 24
2878 Rivendell Rd Detached $637,500 $637,500 3202 1
13254 Twin Creek Ct Detached $749,900 $749,900 3470 21
18137 Delenka Ln Detached $789,000 $792,000 3555 0
150 5th St Detached $849,000 $814,000 2970 212
3072 Lakeview Blvd Detached $1,150,000 $985,000 4030 40
462 9th St Detached $1,339,000 $1,240,000 4357 26
18418 Old River Landing Detached $1,895,000 $1,505,250 6404 190
1836 Highlands Loop Detached $1,800,000 $1,805,000 5400 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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News & Notes ~ July Numbers

Here are the most recent real estate numbers for Portland and the Lake Oswego/West Linn areas (RMLS lumps them together).

Enjoy!  I hope you find this helpful.

According to the RMLS Market Action Report for the Portland Metro Area, July, 2015:

  • There were 4,273 New Listings in July which was down .2% from the previous month/June, but up 8.1% from July of 2014.
  • At 3,452 July Closed Sales increased 4.5% over June, and were up  28.9% from July of 2014.
  • July Pending Sales (accepted offers), at 3,494, were down a bit from the previous month by 3.1%, and 24.7% better than July of 2014.
  •  The Average Sale Price in July of $369,100 was down a whole $400. from June’s Average of $369,500, and up $24,400 from July of 2014’s $344,700. 

The combined areas of Lake Oswego and West Linn  for the month of July 2015 reported:

    •  447 Active Listings 
    •  253 New Listings  
    •  190 Pending Sales    
    •  201 Closed Sales   
    • Average Sale Price for July of $570,800. 
      • 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: 65 Days 
Posted on

Market Activity ~ Aug 10-16, 2015

LakeI Love August : ) Its my favorite month!  I hope you’re enjoying yours. Please feel free to call if you need any help.

Very Best,

Linda

~and~ Dianne & Whitney : )

Last week in Lake Oswego we saw 21 New properties enter the market, 28 move to Pending status, and 28 “Closed”/Sold.

Following is the breakdown for you according to RMLS for last week:

NEW on Mkt (Aug 10-16, 2015)

Address List Price # Beds # Baths Total SF Prop Type
319 CERVANTES $199,900 3 2 1209 CONDO
52 CERVANTES CIR #3A $239,000 2 1.1 1344 CONDO
#3B $246,900 2 2 1489 CONDO
200 BURNHAM RD #408 $249,000 2 2 1305 CONDO
45 EAGLE CREST DR #509 $299,900 2 2 1379 CONDO
6210 CHILDS RD $425,000 3 1.1 1296 DETACHD
25 ORIOLE LN $449,950 3 2 1460 DETACHD
908 BICKNER ST $525,000 3 2 2263 DETACHD
1551 WOODLAND TER $525,000 4 2 2712 DETACHD
10 DEL PRADO ST $539,900 5 3 3104 DETACHD
207 EVERGREEN RD $579,000 3 3.1 1789 ATTACHD
15590 TANAGER DR $585,000 4 2.1 2532 DETACHD
327 CERVANTES $600,000 5 3.1 3600 DETACHD
316 MIDDLECREST RD $664,000 3 2.1 3202 DETACHD
279 EVERGREEN RD $679,900 3 3.1 2136 ATTACHD
1293 TIMBERLINE DR $699,000 3 3 2957 DETACHD
2461 MARYLHAVEN PL $720,000 5 3 3282 DETACHD
49 HILLSHIRE DR $749,900 4 2.2 4193 DETACHD
12716 ELK ROCK RD $1,000,000 3 2.1 4015 DETACHD
725 5th ST $1,124,900 3 3 2748 DETACHD
454 9TH ST $1,125,000 3 4 3278 DETACHD

PENDING SALES (Aug 10-16, 2015)

Address List Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #14 $89,900 1 1 666 CONDO 105
47 EAGLE CREST DR #51 $90,000 1 1 666 CONDO 9
50 CERVANTES CIR #Main $165,000 2 1.1 1368 CONDO 4
192 OSWEGO SMT #192 $183,000 2 2 1383 CONDO 182
48 EAGLE CREST DR #4A $185,000 2 2 1489 CONDO 4
3864 BOTTICELLI ST #Main $197,000 2 1.1 1132 CONDO 3
668 MCVEY AVE #85 $199,900 2 1.1 976 CONDO 54
5882 KENNYCROFT WAY $315,000 3 2 1272 DETACHD 34
434 5TH ST #Grnd $324,900 2 1.1 1092 CONDO 4
6053 FERNBROOK ST $338,000 3 1 912 DETACHD 4
15879 KIMBALL ST $349,900 3 1.1 1076 DETACHD 11
6105 SW SHAKESPEARE ST $389,900 4 2 1550 DETACHD 81
17273 BRYANT RD $395,900 3 1.1 1452 DETACHD 120
35 CHURCHILL DOWNS $439,900 4 3 2271 DETACHD 56
15948 QUARRY RD $445,000 2 1 920 DETACHD 54
383 ASH ST $450,000 3 2.1 1697 DETACHD 6
523 2ND ST #105 $489,000 2 2 1208 CONDO 20
38 MORNINGVIEW CIR $525,000 3 3 2408 DETACHD 5
17766 MARYLCREEK DR $749,000 4 3.1 4439 DETACHD 36
5484 WESTFIELD CT $795,000 4 2.1 3062 DETACHD 3
5635 BAY CREEK DR $799,900 4 2.1 3036 DETACHD 10
5833 STEWART GLENN CT $835,000 4 2.1 3258 DETACHD 26
1189 SUNNINGDALE CT $849,000 3 2.1 2072 DETACHD 0
14360 UPLANDS DR $849,000 4 3.2 2577 DETACHD 31
13447 STREAMSIDE CT $849,900 5 2.1 3609 DETACHD 48
815 OAK ST $919,000 4 3.1 3709 DETACHD 52
17435 WREN CT $1,299,900 4 3 2960 DETACHD 2
13624 GOODALL RD $1,499,000 4 4.2 4411 DETACHD 157

SOLD  (Aug 10-16, 2015)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #24 109000 92836 1 1 672 CONDO 56
31 LADD ST 318900 300000 3 1 867 DETACHD 127
12826 BOONES FERRY RD 304500 307000 2 2.1 1136 ATTACHD 6
5392 TREE ST 373900 362500 3 1.1 1232 DETACHD 7
258 CERVANTES 385000 385000 3 2.1 2312 ATTACHD 13
2705 ORCHARD HILL PL 435000 440000 3 2.1 2250 DETACHD 6
6276 FROST LN 449000 449000 4 3.1 2304 DETACHD 71
643 2ND ST 450000 452500 2 2 1457 ATTACHD 2
4023 TROUT WAY 395000 470000 4 2.1 2758 DETACHD 4
1293 HIDE A WAY LN 489000 480000 3 2.1 1720 DETACHD 4
4220 ALBERT CIR 585000 553000 3 3 2406 DETACHD 49
16460 LEXINGTON CT 574000 580000 3 2.1 2477 DETACHD 8
12448 ORCHARD HILL RD 599900 599000 4 3 3336 DETACHD 178
17 EL GRECO ST 644000 645100 5 2.1 2778 DETACHD 4
1775 PALISADES TERRACE DR 661000 650000 4 2.1 2112 DETACHD 0
321 5TH ST 749000 690000 3 3.1 2737 DETACHD 158
1503 EASTVIEW CT 689000 694000 3 3.1 3337 DETACHD 7
3723 RIVERS EDGE DR 750000 750000 4 2.1 2875 DETACHD 2
2221 OVERLOOK DR 799000 750000 4 2.1 3628 DETACHD 31
14153 EDENBERRY DR 775000 775000 4 2.1 3113 DETACHD 28
14009 CHELSEA DR 765000 785000 4 2.1 3060 DETACHD 5
5364 LANGFORD LN 825000 797000 3 2.1 3022 DETACHD 27
5650 BAY CREEK DR 859900 799900 4 2.1 3668 DETACHD 53
49 BRIARWOOD RD 950000 900000 3 2 2162 DETACHD 138
17340 OAK MEADOW LN 929000 913000 3 3.1 3718 DETACHD 35
4540 LAMONT WAY 949900 949900 4 2.1 3555 DETACHD 6
827 8TH ST 999990 1000000 5 3.1 3852 DETACHD 3
328 KENWOOD RD 1095000 1100000 4 4 4184 DETACHD 2

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.