News & Notes

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) numbers:

The latest real estate numbers in Portland and the Lake Oswego/West Linn areas are in. Things have taken an uptick in October for the Portland area. This was the strongest October for Closed Sales since 2006!

According to the RMLS Market Action Report for the Portland Metro Area  October, 2014:

  • At 2,487, October Closed Sales rose 4.6% over the month prior, September, and were up a full 13.6% from October of 2013’s 2,189 .
  • There were 2,881 New Listings in October which was 7.1% down from September, but rose 13.6% from October 2013.
  • The Average Sale Price in October of $335,600 was down $2,500 from the month prior. The first ten months of 2014 are logging an Average Sale Price of $333,200, which is up 7.4% over the same time period in 2013.
  • October Pending Sales (accepted offers), at 2,480, were down 2.8%  from the month prior.  That said, the Pending sales for October are up a full 16.7% over October 2013.

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In Lake Oswego and West Lin steady activity is Good with Closed Sales down by 10 and/but Pending Sales up by 6. Average Sale Price was up $11,200 from September. (There is a very wide range of prices in Lake Oswego among a relatively smaller number of homes for sale as compared to the larger Portland area, so this is not unusual.)

The combined areas of Lake Oswego and West Linn  for October reported:

    • 475 Active Listings  (Sept was 501)
    • 166 New Listings  (Sept was 177)
    • 136 Pending Sales  (Sept was 130)
    • 130 Closed Sales  (Sept was 140)
    • An Average Sale Price of $547,800.  (Sept was $536,600)
    • Average Time on the Market: 81 Days  (Sept was 100)

Market Activity ~ Nov 3-9, 2014

Greetings, Property Blotter readers!  Well, we’ve definitely got a chill in the air, and leaves are turning & flying away in the breeze. Buyers are out there looking and buying houses as well!

Here is your Latest Market Data: Last week in Lake Oswego we saw 24 New properties enter the market, 26 move to Pending status, and 10 “Closed”/Sold!

Following is the breakdown for you according to RMLS:

NEW on Mkt (Nov 3-9, 2014)

Address List Price # Beds # Baths Total SF Prop Type
59 GALEN ST $94,900 1 1 550 CONDO
4636 LOWER DR #B-1 $128,000 2 1.1 1170 CONDO
86 KINGSGATE RD #C-203 $139,500 2 2 924 CONDO
47 EAGLE CREST DR #59 $140,000 2 2 1024 CONDO
336 CERVANTES CIR $149,900 2 1.1 1112 CONDO
76 GALEN RD #76 $175,000 2 2 989 CONDO
62 GREENRIDGE CT $260,000 3 2 1596 ATTACHD
113 TOUCHSTONE TER $293,000 3 2.1 2104 ATTACHD
3 CONDOLEA DR $325,000 3 3 2198 CONDO
4724 FIRWOOD RD $329,000 3 1.1 1240 DETACHD
1437 OAK ST $349,000 3 1 1070 DETACHD
17520 REDFERN AVE $350,000 3 2 1776 DETACHD
564 2ND ST $399,000 2 2.1 1394 ATTACHD
4146 LAKEVIEW BLVD $400,000 5 1.1 2056 DETACHD
3402 LAKE GROVE AVE $420,000 3 2 1686 DETACHD
5978 FERNBROOK CIR $449,900 4 2.1 1612 DETACHD
533 2ND ST $465,000 2 2 1274 CONDO
37 CHURCHILL DOWNS $470,000 3 2.1 2372 DETACHD
5189 TUALATA LN $475,000 3 2 2422 DETACHD
834 6TH ST $525,000 2 1 1062 DETACHD
18728 BRYANT RD $576,355 3 2.1 2736 DETACHD
4729 FIRWOOD RD $599,900 3 2.1 2594 DETACHD
17680 WOODHURST PL $1,095,000 5 3.1 5478 DETACHD
179 FURNACE ST $1,698,000 3 3.1 4784 CONDO

PENDING SALES (Nov 3-9, 2014)

Address List Price # Beds # Baths Total SF Prop Type CDOM
87 OSWEGO SMT $79,000 2 1.1 1116 CONDO 125
272 CERVANTES $129,900 3 2 1209 CONDO 234
44 EAGLE CREST DR #11 $134,000 3 2 1085 CONDO 23
246 RIDGEWAY RD #17B $160,000 1 1 753 CONDO 16
16250 PACIFIC HWY #76 $200,000 3 2 1801 CONDO 122
200 BURNHAM RD #105 $229,900 1 1 858 CONDO 42
5057 FOOTHILLS DR #H $267,500 2 2 1252 CONDO 4
1531 BOCA RATAN DR $289,000 3 2 1755 ATTACHD 57
468 5TH ST #13 $310,000 2 1.1 1092 CONDO 221
7 PEACOCK PL $329,900 3 2.1 1400 DETACHD 19
1305 CORNELL ST $349,000 3 2 2692 DETACHD 93
1453 GREENTREE CIR $350,000 3 2 1762 DETACHD 3
16990 LOWER MEADOWS DR $369,900 3 2.1 2000 DETACHD 2
528 2ND ST $439,500 2 2.1 1703 ATTACHD 16
5747 VICTORIA CT $549,000 4 2.1 2432 DETACHD 112
17619 Potters RD $575,000 4 2.1 2665 DETACHD 9
5830 SUNBROOK DR $575,000 4 2.1 2810 DETACHD 26
17821 HILLSIDE WAY $589,000 4 3.1 3442 DETACHD 29
5674 CHARLES CIR $639,000 4 2.1 2679 DETACHD 138
13983 WESTCOTT CT $649,900 4 2.1 2792 DETACHD 7
2341 STONEHURST CT $659,000 4 2.1 3389 DETACHD 2
2612 RIVENDELL RD $775,000 4 3 3168 DETACHD 93
13327 ATWATER LN $895,000 3 2 3004 DETACHD 220
17390 GRANDVIEW CT $915,000 4 4.2 4516 DETACHD 506
63 NANSEN SMT $919,900 4 3.1 3202 DETACHD 65
14122 GOODALL RD $969,000 5 4.1 4530 DETACHD 331

SOLD  (Nov 3-9, 2014)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
5058 FOOTHILLS DR $239,900 $227,000 2 2 1252 CONDO 6
6262 WAYZATA CT $328,950 $352,000 3 1.1 1276 DETACHD 15
4242 COBB WAY $449,800 $388,000 3 2 1589 DETACHD 38
18840 RIVENDELL CT $499,000 $439,000 4 3 3060 DETACHD 72
3718 LAKE GROVE AVE $489,000 $452,000 4 3 2523 DETACHD 115
5440 BAY CREEK DR $545,000 $520,000 3 2.1 2442 DETACHD 74
24 MORNINGVIEW CIR $535,000 $520,000 4 3.1 2817 DETACHD 13
2584 Park RD $559,000 $525,000 4 2 2302 DETACHD 110
2031 LILLI LN $779,995 $770,000 3 3.1 3418 DETACHD 14
19463 LORNA LN $899,500 $899,500 4 3.1 4055 DETACHD 429

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.

Lender Required Repairs

toolboxA common statement I have heard many times over the years is “the lender will require the repair”. I just don’t think that is the case much of the time. I thought it might be helpful to give you my experience about lenders and repairs.

Most lenders want a house to be livable. It can be old, it can be dirty or worn out, but it has to be livable. That means no dangerous situations like a deck without a railing that is 10 feet off the ground, or holes in sheet rock, or missing flooring. Lenders also want at least 3-5 years of life left in the roof and a clear pest and dry rot report. Both of these are obtained through professional inspections.

But many things that are assumed to be a problem simply are not. This is not a promise that you won’t run into lender issues on these items. It is simply my experience that they have not been a problem. I have sold houses with post and peer foundations, with LP siding, with nearly every window having a broken seal. Seriously, I sold this really modern house that had 30 windows, 26 of which were clouded over with broken seals. And it was sold with a VA loan, usually considered to be the hardest loan for a property to qualify for.

So know that houses do not need to be perfect to get financing. They need to be “livable”. “Livable” condition may not suit a picky buyer, but that is an entirely different standard.

A good plan, if you are thinking of selling, is to invite a Realtor to your home well in advance so that they can give you an opinion of items to address. Ask for both their opinion on lender required repairs and also their opinion on items to enhance the sale and to make the house show well. Linda, Whitney, and I would all be happy to help.
Dianne

Market Activity Oct 20-26, 2014

The fall market is moving right along with 17 new listings, 12 pending sales, and 20 sold/closed homes last week.

Following is the breakdown for you according to RMLS:

New on Market (Oct 20-26, 2014)

Address Type Price BR Bths SF
4619 Lakeview Blvd D-3 Condo $92,000 1 1 753
43 Crestfield Ct Condo $107,500 2 1 923
3930 Lake Grove Ave 1A Condo $128,500 2 1 952
6 Cervantes Circle Condo $145,000 2 1.5 912
3433 Mcnary Pkwy #303 Condo $150,000 2 2.5 1208
4 Touchstone Dr #99 Condo $159,000 2 2 984
246 Ridgeway Rd 17B Condo $160,000 1 1 753
3986 Carman Dr Condo $209,900 2 2.5 1107
16735 Lake Forest Blvd Detached $299,900 3 2 1192
1743 Aspen Ct Detached $336,900 3 2 1341
528 2nd St Attached $439,500 2 2.5 1703
1710 Glenmorrie Terrace Detached $549,900 4 3 2865
5020 Hampton Ct Detached $598,000 3 2.5 2253
15180 Boones Way Detached $615,000 6 3.5 3905
5488 Southwood Dr Detached $799,000 4 2.5 3280
1168 Andrews Rd #1 Detached $1,295,000-$1,495,000 5 5.5+.5 4700
1168 Andrews Rd #2 Detached $1,295,000-$1,495,000 5 5.5+.5 4700

Pending Sales (Oct 20-26, 2014)

Address Type Price BR Baths SF DOM
44 Eagle Crest Dr #15 Condo $89,900 1 1 798 197
4 Touchstone #76 Condo $124,000 2 2 984 43
4 Touchstone #110 Condo $149,000 2 2 989 85
45 Eagle Crest Dr #409 Condo $155,000 2 2 1214 4
18543 Don Lee Way Detached $250,000 3 1 924 49
5326 W Sunset Dr Detached $259,900 1 1 754 3
4180 Collins Way Detached $280,000 2 1.5 1236 268
16200 Pacific Hwy #35 Condo $295,000 2 2 1208 268
4630 Wildwood St Detached $459,900 3 2 2067 6
886 9th St Detached $465,000 2 1 860 3
17601 Woodhurst Pl Detached $650,000 3 2.5 3179 80
16650 Fir Ln Detached $1,279,000 4 3.5 3860 57

Sold/Closed (Oct 20-26, 2014)

Address Type List Price Closed Price Sq Ft CDOM
44 Eagle Crest Dr #41 Condo $126,900 $111,000 908 421
5713 Kenny St Detached $349,000 $325,000 1384 31
16902 Chapin Way Detached $449,900 $440,000 1993 4
5222 Carman Dr Detached $474,900 $448,000 2,543 173
17688 Cardinal Ct Detached $459,000 $459,000 1970 14
960 9th ST Detached $475,000 $460,000 1509 63
16919 Lakeridge Dr Detached $525,000 $507,000 2710 80
13448 Auburn Ct Attached $525,000 $520,000 2535 4
4821 Dawn Ave Detached $599,000 $600,000 1854 5
2823 Glen Haven Rd Detached $749,900 $699,000 3015 8
5005 Dogwood Dr Detached $779,000 $753,000 4156 71
2175 Crest Dr Detached $799,900 $799,900 2950 20
14128 Goodall Rd Detached $869,000 $825,000 2960 118
814 Lake Shore Rd Detached $899,000.00 $885,000 1972 78
2943 Lakeview Blvd Detached $979,900 $950,000 3794 419
1045 Skyland Dr Detached $1,250,000 $1,255,000 3942 2
1103 Lake Shore Rd Detached $1,320,000 $1,320,000 3747 112
16525 Maple Circle Detached $1,450,000 $1,340,000 3443 287
1880 Crest Dr Detached $1,650,000 $1,375,000 2800 23
1400 Ridgecrest Dr Detached $1,649,500 $1,500,000 3859 15

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.

News & Notes

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) numbers:

The latest real estate numbers in Portland and the Lake Oswego/West Linn areas for September are in. Overall numbers are down from August and up from last year

According to the RMLS Market Action Report for the Portland Metro Area  September, 2014:

  • At 2,378, September Closed Sales dropped 8% from the month prior (August), and/but were up a full 10.2% from September of 2013’s 2,158 .
  • There were 3,102 New Listings in September which was 6.1% higher than September 2013, but down 13.4% from the month prior.
  • The Average Sale Price in September of $338,100 was down $1,900 from the month prior. The first nine months of 2014 are logging an Average Sale Price of $333,000, which is up 7.4% over the same time period in 2013.
  • September Pending Sales (accepted offers), at 2,551, were down 5.7%  from the month prior.  That said, the Pending sales for September are up a full 15% over September 2013. ***This was the strongest September for Pending sales since 2006 when there were 2,599!

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In Lake Oswego and West Lin steady activity with all numbers down slightly from August, and/but the Average Sale Price rising by $16,400… and interestingly, Average Time on the Market going from 57 to 100 days (that’s quite a jump!)

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

    • 501 Active Listings  (August was 531)
    • 177 New Listings  (August was 185)
    • 130 Pending Sales  (August was 148)
    • 140 Closed Sales  (August was 134)
    • An Average Sale Price of $536,600.  (August was $520,200)
    • Average Time on the Market: 100 Days  (August was 57)

Market Activity ~ Oct 13-19, 2014

Hello to each of our Property Blotter readers from the big, happy family here at the Blotter! We’re all still amazingly busy, and/but as I said before, Fall is in the air. Peoples’ attention wanders… Halloween, Thanksgiving, and yes… that other big holiday are on everyones’ minds. Yet, Fall and Winter can be fantastic times to buy a home. People with their homes on the market generally really want to sell. If you’re selling, people looking at this time of year really tend to be serious about buying!

Here is your Latest Market Data: Last week in Lake Oswego we saw 16 New properties enter the market, 22 move to Pending status, and 14 “Closed”/Sold! Interestingly, 11 out of those 22 New ones are Condos or Townhomes.

Ok, Linda here signing off/running out the door to help more clients!
Following is the breakdown for you according to RMLS:

NEW on Mkt (Oct 13-19, 2014)

Address List Price # Beds # Baths Total SF Prop Type
169 OSWEGO SMT #169 $109,000 2 2 1330 CONDO
103 OSWEGO SMT $110,000 2 1.1 1116 CONDO
120 OSWEGO SMT $134,900 2 2 1140 CONDO
44 EAGLE CREST DR #11 $139,000 3 2 1085 CONDO
4000 CARMAN DR #55 $149,900 2 2 866 CONDO
45 EAGLE CREST DR #409 $155,000 2 2 1214 CONDO
526 S STATE ST $169,900 2 1 914 CONDO
5063 Foothills DR $199,000 2 2 991 CONDO
1349 BONNIEBRAE DR $239,000 3 1.1 1303 ATTACHD
16250 PACIFIC HWY #75 $245,000 3 2 1626 CONDO
7 PEACOCK PL $329,900 3 2.1 1400 DETACHD
92 GREENRIDGE CT #92 $348,000 3 2.1 1980 ATTACHD
5344 TUALATA CT $349,355 3 2 1263 DETACHD
4972 GALEN ST $525,000 3 3 1942 ATTACHD
4726 CAMBRIDGE CT $595,000 3 2.1 2865 ATTACHD
2484 MARYLSHIRE LN $849,000 4 3.1 4353 DETACHD

PENDING SALES (Oct 13-19, 2014)

Address List Price # Beds # Baths Total SF Prop Type CDOM
87 OSWEGO SMT $79,000 2 1.1 1116 CONDO 104
5060 FOOTHILLS DR $240,000 3 2 1252 CONDO 2
17299 LAKE HAVEN DR $275,000 3 1 925 DETACHD 2
1 PEACOCK PL $309,000 3 2.1 1248 DETACHD 92
200 BURNHAM RD #211 $339,900 3 2 1862 CONDO 85
1812 FERNWOOD DR $369,000 3 1.1 1401 DETACHD 17
1405 CEDAR ST $375,000 4 2 2570 DETACHD 3
20 AQUINAS ST $389,000 4 2.1 1814 DETACHD 33
4208 HARVEY WAY $399,900 4 2 2132 DETACHD 87
6550 CHILDS RD $400,000 2 2 1346 DETACHD 9
3061 DORIS CT $429,900 5 2 2684 DETACHD 68
3225 TEMPEST DR $448,000 3 2.1 2231 DETACHD 106
18840 RIVENDELL CT $449,900 4 3 3060 DETACHD 72
629 5TH ST $469,000 2 1 1122 DETACHD 118
132 MIDDLECREST RD $495,000 4 2 1617 DETACHD 0
4125 WOLF BERRY CT $529,900 4 2.1 2824 DETACHD 1
2 Walking Woods DR $593,950 5 3 4116 DETACHD 91
3075 TOLKIEN LN $649,000 3 2.1 2667 DETACHD 9
17410 UPPER CHERRY LN $739,000 4 3.2 4586 DETACHD 141
754 5TH ST $755,000 3 3 2179 DETACHD 42
19463 LORNA LN $899,500 4 3.1 4055 DETACHD 429
17335 KELOK RD $950,000 4 3.1 2491 DETACHD 89

SOLD  (Oct 13-19, 2014)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #91 $122,500 $119,700 2 2 984 CONDO 23
155 OSWEGO SMT $199,900 $120,460 2 2 1506 CONDO 241
1818 COUNTRY CLUB RD $299,999 $300,000 4 2 2032 DETACHD 3
23 FALSTAFF ST $349,500 $322,500 3 2 1434 DETACHD 58
139 DEL PRADO ST $429,000 $382,500 4 2 2967 DETACHD 116
76 TOUCHSTONE $479,000 $400,000 5 2.1 2856 DETACHD 73
19040 INDIAN SPRINGS CIR $509,900 $505,000 4 3 2900 DETACHD 3
32 DEL PRADO ST $529,900 $512,000 5 3 3696 DETACHD 16
2626 PARK RD $537,500 $537,500 4 3 2475 DETACHD 5
14253 KIMBERLY CIR $700,000 $705,000 4 3.1 3592 DETACHD 0
3894 TAMARACK LN $825,000 $825,000 4 3.1 4035 DETACHD 39
13888 GOODALL RD $1,379,000 $1,265,000 4 3.1 4435 DETACHD 265
1633 LESLIE LN $1,850,000 $1,750,000 5 4.1 5921 DETACHD 88
17301 Canal CIR $1,999,999 $1,850,000 5 4.1 3843 DETACHD 89

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.

Louisiana Pacific Siding (LP Siding)

Hello everybody,
I have had my license for almost two months now, and I have learned quite a bit! Today what I am going to talk about is LP siding.
My first clients (as it turns out are my cousin and her husband) have just recently made an offer on a condo. In the weeks leading up to their decision we saw everything from houses, town houses, and other condos. When they first found a house I remember my mother saying:

”Oh… they have LP siding.”

Now let me explain why my mother was hesitant about LP siding, before I go into the decided verdict:
 photo 8f755814-85b5-496b-bd2f-14fdfafa0481_zps821e41e0.jpg
Louisiana Pacific (LP) is a company that was founded in 1973 in Tennessee. This company pioneered the production of oriented strand board (OSB) panels. Which was an alternative to the more expensive plywood and solid wood building materials. OSB panels where sold to building manufacturers and homeowners all across the US.
To make OSB panels Louisiana Pacific would harvest small diameter, faster growing timber rather than old growth, and send the cheaper timber through processing to become wood chips. They would then mix the wood chips with glue and set it into a mold to fit the desired diameter for construction. This saved on time and cost, not to mention LP’s OSB panels where easy to install!
In 1985 OSB panels hit the Northwest markets and where the desired material used to construct siding. Many homes where made with LP’s OSB panels as it was inexpensive, quick, and uniform looking. Unfortunately for us up here in the North West, our climate was not factored into the longevity of the panels, made from woodchips and glue, and years later these OSB panels started to disintegrate. One of the major concerns for homeowners and buyers was that the panels would not only sag into clumps of mush along the exterior of their home, but that the mush would rot and host mold and fungus; later requiring a lot more effort to remove then to install the panels themselves initially.
 photo 5c758787-6a62-44ca-8bbe-0f53bd2032a1_zpsa4cbef99.jpg
From 1990 to 2000, LP’s OSB panels where installed into nearly every new construction: as contracting companies where usually outsourced and received their orders to build from out of state, so many companies would use LP siding in an effort to conserve funding. This flourishing action of business can be used to date homes with LP siding within the ranges of the late 1980s all the way through the late 1990s.
 photo 74998250-642e-4293-94fe-65a94bd6d76f_zps7e38cf8a.jpg
So let’s revisit that moment when my mother and I are standing in the driveway of the first home that we showed to my cousin and her husband: The point where we look over the house and notice the little nit-picky things to ensure that the buyer is well-informed about what it is they are likely to purchase. The home was built in 1998 and very clearly had LP siding. LP siding is easy to spot due to its pattern: there is a token ‘wooden knot’ looking print that is used over, and over again on LP planks to make it look like actual lumber. When we brought this up with my cousin we explained the draw-backs of having LP around the exterior of the house. However, this particular house was very well managed. This home had received a good paint job, which ensured that water did not get past the paint to affect the planks. Keep in mind: paint does age just as the rest of the house would, and in the future would require a thorough, waterproof, exterior paint job or complete exterior replacement. One of our suggestions we made for my cousin was to provide a low offer so that they could get the house at a fair price and spend some money on replacing the LP siding.
All in all, LP is not the greatest external material here in the North West. It does well in climates that are dryer and provide low threat for mold or fungus. Though we do not have nearly as much of a threat in mold as other states do (Texas being the leading state for issues involving mold). The North West still deals with fungus, and above all rain, rain, rain, and more rain!

Thank you for reading along with me. I look forward to sharing more with you in the future!

Loving life in Lake Oswego,
Whitney Gregoire

Bibliography:
http://www.homeadvisor.com/article.show.Top-10-Worst-States-for-Mold.14164.html
http://hometownexteriordesigns.com/lp_siding.php
http://en.wikipedia.org/wiki/Louisiana-Pacific

It’s Tax Time

Funny how it manages to roll around, year after year. The cooler evenings and changing of the leaves also means property taxes are soon arriving in our mail boxes. The statements are usually mailed out mid October and are due to be paid, this year, on November 17th.

I always get questions from new home owners about what they receive in the mail. If you pay your taxes monthly into a reserve account that your lender manages, then your statement is simply that, a statement. It will be yellow in color. Your lender will also receive this statement. They will see to it that your taxes are paid from your reserve account. If you pay your own taxes, then your statement will be green. You can get a 3% discount if you pay them in full by November 17th. You can also break them up in thirds and pay 1/3 November 17, 2014, February 17, 2015, and May 15, 2015.

page-0Another confusing concept is the fact that the statement has two valuations. One is tax assessed value and one is market value. This exists because we have annual tax increase limitations that don’t follow the real market value, thus you receive two values. I am not too impressed by the real market value the county puts out, but it is interesting. As long as the tax assessed value remains lower than the market value, your taxes will increase each year, usually 3%.

If you think your assessed value is too high, you should consider contesting this valuation. If you have been a reader for sometime, you may recall I successfully contested my Mother’s tax assessed value about 2 years ago. Going through the process, her property taxes dropped about 30%. For the county website to get info on this, click here. Please also feel free to pick up the phone and call me (503-803-6298). I’d be happy to help you understand the process. The window of time to contest taxes is short. This year it is from October 20, 2014 to December 31, 2014. So if you are thinking of doing this, get started NOW.

As always, thanks for reading.
Dianne

Market Activity Sept 29-Oct 5, 2014

After a bit of a dip with the start of school, last week’s activity picked up again. We had 17 new listings, 19 pending sales, and 25 closed/sold properties. Those are strong numbers as we head into fall.

Following is the breakdown according to RMLS:

New on Market (Sept 29-Oct 5, 2014)

Address Type Price BR Bths SF
48 Eagle Crest Dr 2C Condo $150,000 3 2 1623
15220 Boones Way 1C Condo $173,500 2 2 1266
16442 Kimball St Detached $350,000 3 1 1200
1812 Fernwood Dr Detached $369,000 3 1.5 1401
5959 Dove Ct Detached $379,900 2 2 1552
5185 Carman Dr Detached $389,000 3 1.5 1848
1878 Mapleleaf Rd Detached $399,900 3 1.5 1347
4670 Lower Dr Detached $414,900 3 2.5 1587
17749 Leafy Ln Detached $624,900 4 3 3300
1890 Crest Dr Detached $769,000 3 2.5 2782
5055 Lakeview Blvd Detached $890,000 4 3.5 3498
18400 Delenka Ln Detached $929,555 5 3.5 5183
1471 Woodland Terr Detached $959,000 5 4.5 5362
17540 Ridgeview Ln Detached $1,255,000 4 3.5 4345
635 Iron Mountain Blvd Detached $1,599,000 6 3.5 4736
420 Ridgeway Rd Detached $2,299,000 4 4 3202

Pending Sales (Sept 29-Oct 5, 2014)

Address Type Price BR Baths SF DOM
45 Eagle Crest Dr #218 Condo $135,000 1 1 768 142
5530 Bonita Rd Detached $269,900 3 1.5 1200 32
8 Britten Ct Attached $274,900 2 2 1175 4
5665 Washington Ct Detached $324,000 3 2 1928 101
6262 Wayzatqa Ct Detached $328,950 3 1.5 1276 15
27 Oriole Ln Detached $425,500 4 2.5 1851 6
137 Kingsgate Rd Detached $446,000 3 2.5 2372 2
15480 Heritage Ct Detached $469,900 4 2.5 2432 2
17554 Blue Heron Way Detached $475,000 4 3 2000 0
1001 Bullock St Detached $475,000 3 2 2008 50
1110 Hallinan Circle Detached $479,000 4 3.5 3824 286
2425 Glen Haven Rd Detached $499,900 4 2.5 2231 3
5440 Bay Creek Dr Detached $529,900 3 2.5 2442 74
24 Morningview Circle Detached $535,000 4 3.5 2817 13
17941 Meadowlark Ln Detached $575,000 4 3.5 3905 24
16342 Ivy Ln Detached $669,900 5 3.5 4645 57
754 5th St Detached $755,000 3 3 2179 30
14144 Goodall Rd Detached $765,000 4 3 3499 298
2031 Lilli Ln Detached $779,995 3 3.5 3418 14

SOLD (Sept 29-Oct 5, 2014)

Address Type List Price Closed Price Sq Ft CDOM
4000 Carman Dr #28 Condo $144,000 $142,000 884 25
5225 Jean Rd #605 Condo $199,900 $195,000 1400 32
5061 Foothills Dr G Condo $199,900 $198,500 991 7
1531 Cedar St Detached $264,900 $250,000 832 18
1018 Spruce St Detached $279,000 $272,425 906 2
432 5th ST #1 Condo $299,000 $275,000 1092 57
4271 Woodside Circle Attached $360,000 $340,000 2126 360
16 Polonius St Detached $434,900 $394,500 2588 147
13371 Peters Rd Detached $430,000 $397,600 2340 62
2944 Dellwood Dr Detached $425,000 $405,000 2152 73
529 2nd St Condo $450,000 $437,500 1339 75
32 Northview Ct Attached $475,000 $442,000 3063 117
2 Morningview Circle Detached $489,000 $450,000 2954 89
1023 Gans St Detached $495,000 $455,000 2770 3
1638 Pine St Detached $494,000 $479,000 3160 222
16901 Lakeridge Dr Detached $545,000 $486,500 2080 3
2195 Glenmorrie Ln Detached $535,000 $511,000 2461 104
4250 Haven St Detached $499,900 $525,000 1924 1
100 D Ave E Attached $539,000 $540,000 1847 7
1936 Palisades Lake Ct Detached $699,000 $640,000 3939 65
18020 Skyland Circle Detached $823,500 $775,000 3210 43
17643 Kelok Rd Detached $1,198,000 $932,500 2390 92
19363 Riverwood Ln Detached $719,000 $940,000 2984 783
744 9th St Detached $1,239,000 $1,142,058 4255 46
616 Cabana Ln Detached $2,895,000 $2,550,000 3800 39

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.

Market Activity ~ Sept 22-28, 2014

We still have steady sales per Pending and Closed numbers, and/but fewer homes are entering the market. Fall is in the air!

Here is your Latest Market Data: Last week in Lake Oswego we saw 8 New properties enter the market, 22 move to Pending status, and 21 “Closed”/Sold.

Following is the breakdown according to RMLS:

NEW on Mkt (Sept 22-28, 2014)

Address List Price # Beds # Baths Total SF Prop Type
4610 LOWER DR $114,900 2 1.1 1260 CONDO
158 OSWEGO SMT $138,000 2 2 1506 CONDO
121 LEONARD ST #C $195,000 2 2 1118 CONDO
200 BURNHAM RD #105 $229,900 1 1 858 CONDO
27 ORIOLE LN $425,500 4 2.1 1851 DETACHD
18768 WOOD DUCK ST $499,900 3 3 2940 DETACHD
11 MOUNTAIN VIEW LN $799,000 4 3.1 3659 DETACHD
1865 PALISADES TERRACE DR $6,900,000 5 5.3 8800 DETACHD

PENDING SALES (Sept 22-28, 2014)

Address List Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR #41 $109,995 2 1 908 CONDO 421
10 CERVANTES CIR $149,900 2 1.1 912 CONDO 14
18543 DON LEE WAY $250,000 3 1 924 DETACHD 20
16450 LAKE FOREST BLVD $289,900 4 2 1442 DETACHD 4
1 EAGLE CREST DR $326,000 3 2 1265 DETACHD 18
5713 KENNY ST $335,000 3 2 1384 DETACHD 31
2051 GREENTREE RD $419,900 3 2.1 1864 DETACHD 67
3061 DORIS CT $429,900 5 2 2684 DETACHD 45
5115 FIRWOOD RD $439,970 4 2.1 1657 DETACHD 68
1530 LARCH ST $469,000 3 3 2384 DETACHD 3
960 9TH ST $475,000 2 1 1509 DETACHD 63
47 DA VINCI ST $475,000 3 2.1 2445 DETACHD 57
5225 COVENTRY CT $504,900 3 2.1 2050 DETACHD 3
19040 INDIAN SPRINGS CIR $509,900 4 3 2900 DETACHD 3
768 BERWICK CT $549,900 3 2 1731 DETACHD 24
12402 SHELBY CT $555,000 4 3 3120 DETACHD 74
2400 DELLWOOD DR $574,900 4 3 3180 DETACHD 1
3 WALKING WOODS DR $575,000 5 3 3853 DETACHD 86
17601 WOODHURST PL $650,000 3 2.1 3179 DETACHD 53
17410 UPPER CHERRY LN $739,000 4 3.2 4586 DETACHD 123
17129 KELOK RD $1,299,000 4 2.1 2894 DETACHD 0
13888 GOODALL RD $1,379,000 4 3.1 4435 DETACHD 265

SOLD  (Sept 22-28, 2014)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
245 CERVANTES $149,900 $153,500 2 2 1292 CONDO 5
5058 FOOTHILLS DR #A $239,900 $235,000 2 2 1252 CONDO 12
1720 BONNIEBRAE DR $287,500 $287,500 2 2 1611 ATTACHD 66
4291 WOODSIDE CIR $325,000 $315,000 3 2 2026 ATTACHD 49
90 KINGSGATE RD $289,900 $325,000 3 2.1 1727 DETACHD 326
1795 FERNWOOD DR $339,900 $325,000 3 1 1220 DETACHD 17
562 2ND ST $379,900 $377,000 2 2.1 1302 CONDO 177
14344 HOLLY SPRINGS RD $399,000 $400,000 3 2.1 1699 DETACHD 0
10 ABELARD ST $394,900 $400,000 3 2 1874 DETACHD 5
18929 LONGFELLOW AVE $446,000 $446,000 3 2 1800 DETACHD 7
523 2ND ST #105 $465,000 $465,000 2 2 1274 CONDO 12
7 WINDSOR CT $495,000 $485,000 5 2.1 2728 DETACHD 62
2802 GREENTREE RD $499,500 $507,000 3 2 2548 DETACHD 45
33 MORNINGVIEW CIR $550,000 $515,000 3 2.1 2737 DETACHD 123
4311 ORCHARD WAY $549,900 $520,000 4 2.1 3010 DETACHD 227
17900 CANAL RD $599,000 $535,000 4 3 2992 DETACHD 266
17450 TREETOP WAY $585,000 $575,000 5 3 3752 DETACHD 0
3333 Royce WAY $609,007 $614,999 4 2.1 2697 DETACHD 295
551 2ND ST $660,000 $615,000 2 2 1631 CONDO 74
1403 GREENTREE CIR $669,000 $635,000 5 3.1 4047 DETACHD 47
13777 CAMEO CT $1,700,000 $1,585,000 4 5.1 7300 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.