I can really feel the change of seasons. With that it always seems like the market starts to slow. I am seeing a slow down of new listings with just 14, but 14 pending sales and 8 closed sales is on pace with what we have been seeing since the end of summer.
See below for further details:
NEWLY LISTED (Oct 18-24, 2010)
| Address | List Price | Bedrooms | Baths | Sq feet | Prop Type | ||
| 20 CERVANTES CIR | $79,900 | 2 | 1.5 | 912 | CONDO | ||
| 5061 FOOTHILLS DR | $199,000 | 2 | 2 | 991 | CONDO | ||
| 18244 PILKINGTON RD | $254,900 | 3 | 1.5 | 1,200 | DETACHD | ||
| 5852 LAKEVIEW CT | $259,000 | 3 | 1 | 1,032 | DETACHD | ||
| 1 EAGLE CREST DR | $259,900 | 3 | 2 | 1,265 | DETACHD | ||
| 4141 COBB WAY | $279,900 | 3 | 2 | 1,236 | DETACHD | ||
| 3684 RED CEDAR WAY | $289,900 | 3 | 2.5 | 1,830 | DETACHD | ||
| 4281 CHAPMAN WAY | $301,907 | 3 | 2.5 | 2,010 | DETACHD | ||
| 4500 GALEWOOD ST | 420000 | 3 | 3 | 2,408 | DETACHD | ||
| 13819 PROVINCIAL HILL DR | 449000 | 4 | 2.5 | 2,096 | DETACHD | ||
| 875 PALISADES TERRACE DR | 499000 | 4 | 3 | 2,165 | DETACHD | ||
| 19019 BRYANT RD | 739900 | 4 | 3.5 | 3,326 | DETACHD | ||
| 16847 GREENBRIER RD | 1595000 | 3 | 2.5+.5 | 2,315 | DETACHD | ||
| 939 TERRACE DR | 1850000 | 4 | 3.5 | 4,780 | DETACHD |
PENDING SALES (Oct 18-24, 2010)
| Address | List Price | Bedrooms | Baths | Sq feet | Prop Type | ||
| 16 MOUNTAIN CIR | $129,900 | 2 | 2 | 1,065 | ATTACHD | ||
| 200 BURNHAM RD | $139,000 | 2 | 2 | 1,325 | CONDO | ||
| 221 CERVANTES | $144,000 | 2 | 1.5 | 1,180 | CONDO | ||
| 1416 CHERRY CREST DR | $259,000 | 5 | 3 | 2,559 | DETACHD | ||
| 37 BLOCH TER | $300,000 | 3 | 2.5 | 1,972 | ATTACHD | ||
| 743 10th ST | $325,000 | 2 | 1 | 1,019 | DETACHD | ||
| 1899 WOODLAND TER | $369,000 | 5 | 3.5 | 3,031 | DETACHD | ||
| 72 CONDOLEA WAY | $375,000 | 2 | 2.5 | 2,958 | CONDO | ||
| 3885 UPPER DR | 469000 | 4 | 2.5 | 3,122 | DETACHD | ||
| 5758 CHARLES CIR | 479900 | 3 | 2 | 2,371 | DETACHD | ||
| 4709 Lakeview BLVD | 549900 | 4 | 2.5 | 2,725 | DETACHD | ||
| 4685 UPPER DR | 550000 | 3 | 2 | 3,341 | DETACHD | ||
| 563 2ND ST | 635000 | 2 | 2.5 | 1,748 | CONDO | ||
| 16990 ALDER CIR | 640000 | 3 | 2.5 | 1,926 | DETACHD |
SOLD (Oct 18-24, 2010)
| Address | Original Price | Close Price | CDOM | Sq Feet | Prop Type | BR | BTHS | ||
| 200 BURNHAM RD | $264,000 | $137,500 | 866 | 1,335 | CONDO | 2 | 2 | ||
| 1496 BOCA RATAN DR | $249,000 | $249,000 | 3 | 1,403 | ATTACHD | 3 | 1.5 | ||
| 2634 ORCHARD HILL PL | $449,500 | $423,500 | 13 | 2,573 | DETACHD | 3 | 2.5 | ||
| 5553 KILCHURN AVE | $679,900 | $640,000 | 25 | 3,274 | DETACHD | 4 | 2.5 | ||
| 5657 VICTORIA CT | $689,900 | $645,000 | 45 | 3,421 | DETACHD | 4 | 3 | ||
| 490 COUNTRY CLUB RD | $999,999 | $750,000 | 115 | 3,052 | DETACHD | 5 | 4 | ||
| 17537 CARDINAL DR | $895,000 | $800,000 | 407 | 5,282 | DETACHD | 5 | 4 | ||
| 2569 GLEN EAGLES PL | $1,349,000 | $1,115,000 | 114 | 4,591 | DETACHD | 5 | 4.5+.5 |
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
Open Houses for 10/24/10
The first storm of the season is supposed to blow through Portland this evening. You may need galoshes, but these 22 houses are worth seeing:
| Address | List Price | Bedrooms | Baths | Prop Type | Open | |||
| 221 CERVANTES | $144,000 | 2 | 1.5 | CONDO | 2:30 to 4:30 | |||
| 16250 PACIFIC HWY | $209,000 | 2 | 2 | CONDO | 2 to 4 | |||
| 29 GREENRIDGE CT | $239,000 | 3 | 2 | ATTACHD | 1 to4 | |||
| 6062 BURMA RD | $269,987 | 4 | 2 | DETACHD | 12 to 3 | |||
| 3684 RED CEDAR WAY | $289,900 | 3 | 2.5 | DETACHD | 1 to 4 | |||
| 1851 KILKENNY DR | $384,900 | 4 | 3 | DETACHD | 12 to 4 | |||
| 14 MONTICELLO DR | $399,950 | 3 | 2 | DETACHD | 1 to 3 | |||
| 151 DEL PRADO ST | $419,000 | 4 | 2.5 | DETACHD | 1 to3 | |||
| 12 SCARBOROUGH DR | 479900 | 4 | 2.5 | DETACHD | 1 to 4 | |||
| 19319 SW DOGWOOD CT | 499900 | 4 | 2.5 | DETACHD | 1 to 5 | |||
| 19415 SW DOGWOOD CT | 514900 | 5 | 3 | DETACHD | 1 to 5 | |||
| 19263 MEGLY CT | 559900 | 5 | 3 | DETACHD | 1 to 5 | |||
| 19245 SW MEGLY CT | 569900 | 5 | 3 | DETACHD | 1 to 5 | |||
| 17981 MEADOWLARK LN | 584900 | 3 | 3 | DETACHD | 10 to 4 | |||
| 9 ABELARD ST | 599000 | 5 | 2.5 | DETACHD | 2 to 4 | |||
| 3943 TEMPEST DR | 599000 | 4 | 3.5 | DETACHD | 12 to 2 | |||
| 17682 MARYLBROOK DR | 599900 | 4 | 2.5 | DETACHD | 1 to 4 | |||
| 5321 AMBERWOOD CT | 709000 | 4 | 3 | DETACHD | 2 to 4 | |||
| 19019 BRYANT RD | 739900 | 4 | 3.5 | DETACHD | 1 to 3 | |||
| 18209 SIENA DR | 1097000 | 5 | 3.5 | DETACHD | 2:30 to 4:30 | |||
| 1808 RIDGE POINTE DR | 1269000 | 5 | 4.5 | DETACHD | 2:30 to 4:30 | |||
| 1968 CHERYL CT | 1595000 | 4 | 4.5+.5+.5 | DETACHD | 1 to 4 |
Foreclosure Freeze/Shortsales/Market Conditions
The news has been full of headlines about the new crisis in the mortgage industry, this time affecting foreclosures. So it seems like an opportune time to look at not only foreclosures, but also shortsales and the latest market update from RMLS.
The Foreclosure Freeze
There is now discussion that the foreclosure process, which has pretty much swamped the big lenders like Bank of America and Wells Fargo, has been mishandled. The accusation is that the paperwork involved in the foreclosures was often reviewed and processed by unqualified people and by people who did not read what they were signing. I do not know if this is true or not, but I do know that I have counseled people who are in foreclosure who have not only felt powerless, but have felt that the bank was not answering their letters, returning their phone calls, or being responsive. Obviously there is going to be anger for a person in this position. That combined with the current media coverage does make me feel that we will see litigation.
Gregor Watson, a principal with McKinley Partners, recently gave a best to worst case assessment of what this means:
Best case: this is only a technical glitch. It will require some re-tooling of the process, but the process will get back on track and foreclosures will resume. This is needed to allow the glut of foreclosures to work their way through the market and then be out of the inventory.
Medium case: people will enter into significant litigation that could take years to sort out. This could slow and extend the downturn of the housing market.
Worst case: the housing market is brought to a halt because Title Companies refuse to insure mortgages involving foreclosed homes. (This would not bring the entire market to a halt: simply the foreclosures. Still, a big problem)
On the positive side the Philidelphia Inquirer reported yesterday that Bank of America intends to begin resuming foreclosure proceedings stating that they have a legal right to do so despite accusations that documents used in the process are flawed. This bodes well for the possibility that the better scenario may result. We shall see….
Shortsales
When the whole shortsale phenomenon began a few years ago I will admit that I was a skeptic. It reminded me of the buy-a-house-with-credit-cards schemes. Just too simple to be true. Really? You could just ask your bank to forgive part of your mortgage so that you could sell it for less? Really? As time has gone by I have come to see that not only are shortsales here to stay, they are a significant part of the market.
I think shortsales do present remarkable opportunity, as do foreclosures. It allows a house to be sold for market value and not have an asking price that is based upon a value/debt that is several years old. But shortsales are not for everyone. I want to make if very clear that if you are a homeowner considering a shortsale, you need professional and legal advice far beyond the scope of what I am discussing here. So I want to directly address buyers.
The buyer best suited to benefit from a shortsale is the investor. This is because the shortsale is so uncertain and the process takes months. A buyer who is shopping for a home may have the patience for this, but is usually not in a position to wait 3-5 months and then learn that they lost the house to another bid or that the shortsale was not approved. Whereas an investor is not waiting with a moving truck full of furniture. If it works, it works. If not, that’s OK too. For the investor able to be patient, it can present real opportunity. I have personally seen several homes here in Lake Oswego that sold for values that made my jaw drop in the shortsale scenario. Just know what you are getting into.
Keeping it Local
Here in Lake Oswego we currently have an active listing inventory of 626 listings (condos and houses). Of those 37 are Bank-owned Foreclosures and 70 are shortsales. And this means that about 82% of the market is neither a foreclosure nor a shortsale. It’s a home owned by someone who is not in it upside down and who has perhaps even taken loving care of it. So there is a house out there for you whether you are an investor, a home buyer looking for a personal residence, or even a home buyer looking for a personal residence with the patience of an investor.
Also keeping it local, the latest RMLS Market Action Report offers the following information about area 147, which is Lake Oswego and West Linn Combined
Total active listings = 1025
Total pending sales = 84, a decrease of 24.3% over the same time one year ago
Average sales price = $432,200
Average days on the market = 186
Change in values over the same time last year = -9.3%
Change is closed sales, year to date = -22.3%
I consider myself to be a very positive person. The thing to do in this economy is look for how it can work in your favor. That may mean waiting, but that may also mean pouncing on opportunity. The subject today is pretty complex. Please contact Linda or myself for more information, to ask questions, or to get property information. We are here to be of help.
Dianne
Lake Oswego Market Activity ~ Oct 11-17, 2010
Pretty robust activity last week. Lake Oswego saw 17 New listings, 19 Pending sales, and 8 Closed sales according to RMLS.
See below for further details:
NEWLY LISTED (Oct 11-17, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type |
| 3433 MCNARY PKWY #204 | $107,500 | 2 | 2 | 1008 | CONDO |
| 73 GALEN ST #73 | $115,950 | 2 | 2 | 995 | CONDO |
| 4000 CARMAN DR #3 | $119,900 | 1 | 1 | 836 | CONDO |
| 221 CERVANTES | $144,000 | 2 | 1.1 | 1180 | CONDO |
| 6120 SHAKESPEARE ST | $185,000 | 3 | 1.1 | 999 | DETACHD |
| 12802 BOONES FERRY RD | $287,500 | 3 | 2.1 | 1548 | DETACHD |
| 7 BLOCH TER | $292,000 | 3 | 2.1 | 2062 | ATTACHD |
| 17350 KELOK RD | $379,000 | 3 | 1.2 | 1415 | DETACHD |
| 15824 BOONES WAY | $384,900 | 3 | 2 | 1895 | DETACHD |
| 5490 ROYAL OAKS DR | $425,000 | 3 | 2 | 1761 | DETACHD |
| 1094 ERICKSON ST | 424900 – 474876 | 4 | 3 | 2769 | DETACHD |
| 3210 FIR RIDGE RD | $499,000 | 4 | 3.2 | 2832 | DETACHD |
| 1132 TROON RD | $569,000 | 3 | 2.1 | 1585 | DETACHD |
| 13711 FIELDING RD | $719,000 | 3 | 4 | 4649 | DETACHD |
| 754 5TH ST | $775,000 | 3 | 2 | 2186 | DETACHD |
| 18260 RIVER EDGE CT | $835,000 | 3 | 3.1 | 4711 | DETACHD |
| 199 FURNACE ST (Upper) | $2,590,000 | 3 | 3.1 | 5772 | CONDO |
PENDING SALES (Oct 11-17, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 16250 PACIFIC HWY #77 | $139,000 | 2 | 2 | 1327 | CONDO | 1115 |
| 200 BURNHAM RD #204 | $149,000 | 2 | 2 | 1313 | CONDO | 890 |
| 85 OSWEGO SMT #85 | $159,000 | 2 | 2 | 1212 | CONDO | 290 |
| 212 RIDGEWAY RD | $169,900 | 1 | 1 | 778 | CONDO | 483 |
| 18462 DON LEE WAY | $179,900 | 4 | 2 | 1904 | DETACHD | 369 |
| 848 6th ST | $262,000 | 2 | 1 | 1648 | DETACHD | 413 |
| 5713 SW KENNY ST | $279,900 | 3 | 2 | 1384 | DETACHD | 42 |
| 427 9TH ST | $299,900 | 4 | 2 | 2130 | DETACHD | 30 |
| 1073 HALLINAN ST | $349,000 | 3 | 2.1 | 1828 | DETACHD | 124 |
| 2021 CEDAR CT | $350,000 | 4 | 3.1 | 4114 | DETACHD | 205 |
| 32 CHURCHILL DOWNS | $379,900 | 4 | 2.1 | 3016 | DETACHD | 247 |
| 3541 RED CEDAR WAY | $404,900 | 3 | 3 | 1963 | DETACHD | 14 |
| 5916 SUNBROOK DR | $459,900 | 3 | 2.1 | 2617 | DETACHD | 9 |
| 17930 MEADOWLARK LN | $539,900 | 4 | 4 | 3300 | DETACHD | 282 |
| 5188 MADRONA ST | $549,000 | 3 | 3 | 3183 | DETACHD | 36 |
| 17455 BLUE HERON RD | $575,000 | 3 | 2 | 2572 | DETACHD | 519 |
| 15915 WALUGA DR | $598,950 | 3 | 2.1 | 2939 | DETACHD | 261 |
| 444 6TH ST | $899,000 | 4 | 4.1 | 4541 | DETACHD | 314 |
| 15444 Boones WAY | $998,500 | 3 | 2.1 | 3364 | ATTACHD | 0 |
SOLD (Oct 11-17, 2010)
| Address | O/Price | Close Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 47 EAGLE CREST DR #59 | $105,000 | $76,500 | 3 | 1 | 1024 | CONDO | 203 |
| 200 BURNHAM RD #200 | $229,000 | $90,000 | 1 | 1 | 897 | CONDO | 1362 |
| 4000 CARMAN DR #A5 | $117,500 | $102,000 | 2 | 2 | 973 | CONDO | 202 |
| 2245 GLEN HAVEN RD | $328,500 | $270,000 | 3 | 1.1 | 1276 | DETACHD | 346 |
| 16149 PEARCY ST | $329,000 | $305,000 | 3 | 2 | 1250 | DETACHD | 35 |
| 13045 PRINCETON CT | $429,000 | $417,000 | 3 | 2.1 | 2900 | DETACHD | 5 |
| 3188 S GLENMORRIE DR | $519,750 | $495,000 | 3 | 3 | 3066 | DETACHD | 133 |
| 3114 DOUGLAS CIR | $1,350,000 | $1,145,000 | 4 | 4 | 5542 | DETACHD | 700 |
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
Open Houses Sunday, October 17th, 2010
There are 22 properties being held Open on Sunday. Looks like a great bunch.
Come say hello at my Open from 1:30 – 4PM at: 979 Devon Lane. (McVey/Larch/Oxford/Left on Devon Lane). Here’s the view of Mt Hood at which I’ll be gazing as I entertain visitors! (no… won’t be tap dancing…. sorry : )
Enjoy your Sunday! Here is what’s on tap:
| Address | L/Price | # Beds | # Baths | Total SF | Prop Type | Time |
| 1851 KILKENNY DR | $389,900 | 4 | 3 | 2716 | DETACHD | 12-4PM |
| 4908 MULHOLLAND DR | $425,000 | 3 | 2.1 | 2498 | TWNHSE | 1-3PM |
| 2697 LOOKOUT CT | $429,000 | 3 | 2 | 2219 | DETACHD | 2-4PM |
| 979 DEVON LN | $457,000 | 4 | 3.1 | 2162 | DETACHD | 1:30-4PM |
| 326 LAKE BAY CT | $474,900 | 3 | 2 | 1400 | DETACHD | 2-4PM |
| 12 SCARBOROUGH DR | $479,900 | 4 | 2.1 | 2892 | DETACHD | 1-4PM |
| 19319 SW DOGWOOD CT | $499,900 | 4 | 2.1 | 3105 | DETACHD | 1-5PM |
| 19415 SW DOGWOOD CT | $514,900 | 5 | 3 | 3517 | DETACHD | 1-5PM |
| 4398 GLACIER LILY ST | $535,000 | 4 | 2.1 | 2936 | DETACHD | 12-2PM |
| 19263 MEGLY CT | $559,900 | 5 | 3 | 3213 | DETACHD | 1-5PM |
| 19245 SW MEGLY CT | $569,900 | 5 | 3 | 3490 | DETACHD | 1-5PM |
| 17981 MEADOWLARK LN | $584,900 | 3 | 2.1 | 3250 | DETACHD | 12-3PM |
| 5511 FIELDSTONE CT | $685,000 | 4 | 2.1 | 3037 | DETACHD | 1-3PM |
| 5371 LANGFORD LN | $694,950 | 4 | 2.1 | 2950 | DETACHD | 1-3PM |
| 5533 FIELDSTONE CT | $695,000 | 4 | 2.1 | 3115 | DETACHD | 1-3PM |
| 15566 VILLAGE PARK CT | $709,900 | 5 | 3.1 | 4692 | DETACHD | 12-3PM |
| 4158 CASEY CT | $799,000 | 4 | 2.1 | 3385 | DETACHD | 2:30-4:30PM |
| 16686 MAPLE CIR | $895,000 | 4 | 3.2 | 3311 | DETACHD | 2-4PM |
| 4018 COHO LN | $1,045,500 | 4 | 4.1 | 4777 | DETACHD | 1-4PM |
| 18209 SIENA DR | $1,097,000 | 5 | 3.1 | 3839 | DETACHD | 2:30-4:30PM |
| 1808 RIDGE POINTE DR | $1,269,000 | 5 | 4.1 | 4155 | DETACHD | 2:30-4:30PM |
| 3118 DOUGLAS CIR | $1,275,000 | 3 | 2.1 | 3562 | DETACHD | 12:30-3PM |
News & Notes
- Mortgage Rates: One thing to remember about what you hear on the news is that good news for the economy in general means rates are going to rise for buying a house. Bad news for the economy means rates stay where they are if they are low or get lower. Here’s what MBS Quoteline is saying: ” The Fed’s recent announcement that it may purchase additional Treasury securities (quantitative easing) to stimulate the economy has magnified the importance of economic news and increased daily volatility. Investors now evaluate each fresh piece of data in terms of its expected impact on Fed policy, and mortgage rates receive an extra benefit from weaker than expected data. In general, weaker economic growth leads to lower future inflation, which is favorable for mortgage rates. In addition, investors now expect higher levels of bond purchases by the Fed after weak data, and the increased demand also would be positive for mortgage rates. Of course, stronger than expected economic news will have the opposite effect and will push rates higher more quickly than usual.”
- Selling Tip Of The Week: Color is important when selling your home. I’m sure you’ve heard that it is good to use neutral tones on the walls, and your Realtor can advise you on the latest/most popular shades, but I’ve noticed that some people misinterpret “neutral”. Neutral does not mean white. I know that white is fun to play with tone on tone, but if you do too much white, it will make your home feel “cold” and people will have a difficult time “feeling the love” : ) So, if you’ve got white walls that you think look realy clean and make your rooms look bigger, and off white or white carpet throughout… you need to talk w/your Realtor about some light taupes or other schemes to bring some warmth into those rooms.
- Buying Tip Of the Week: Pay attention to the garage in your new home. What are you going to use it for? I say there are two kinds of people… those who park in their garage and those who store “stuff” in it. Does the garage in the home you’re contemplating meet your needs? I recently had a Buyer about ready to write an offer when they realized that her beloved long-ish minivan would not fit in the garage. Now she had a choice to make… the home that fit the rest of the family’s needs… or the car? In many older homes, garages were not made to fit the longer/larger vehicles of today. So… try your car out in the garage if you have any questions about it. And if you have trouble squeezing it in, you might consider “carriage doors” that open out, as they are mounted on the outer side of the frame as opposed to the inner side which is where up & down sliding doors are mounted, thereby reducing your space.
- “Should-I-Buy-Now-Or-Wait?-Calculator” – Here is a nifty tool from First American Title Company (came to me courtesy of Pam Edwards in the Clackamas Office… Thanks, Pam!). It allows you to calculate the difference between buying now & waiting… So, let’s say you found a home that is priced at $500,000. You know rates are good now and are expected to rise, and/but you are thinking that maybe the house will come down in price (let’s say you think it may eventually come down to $450,000.) and so you are considering holding off on your offer. This tool will allow you to punch in parameters and see just how much the picture would change if interest rates go up and your home lowers in value. Pretty cool! Here’s the link: “Should-I-Buy-Now-Or-Wait?-Calculator” There are some additional tools there as well: Buy or Rent, for instance.
Very Best,
Linda
Market Activity 10/4-10/10
Market activity in Lake Oswego last week brought us 19 new listings, 7 pending sales, and 6 closed sales.
See below for further details:
NEWLY LISTED (Oct 4-Oct 10, 2010)
| Address | List Price | Bedrooms | Baths | Sq feet | Prop Type | ||
| 668 MCVEY AVE | $129,900 | 2 | 1.5 | 992 | CONDO | ||
| 159 OSWEGO SMT | $175,000 | 2 | 2 | 1,506 | CONDO | ||
| 1416 CHERRY CREST DR | $259,000 | 5 | 3 | 2,559 | DETACHD | ||
| 14138 KNAUS RD | $296,573 | 4 | 2 | 2,001 | DETACHD | ||
| 53 ORIOLE LN | $304,900 | 3 | 2.5 | 2,072 | DETACHD | ||
| 17952 Cardinal DR | $309,900 | 3 | 2 | 1,702 | DETACHD | ||
| 743 10th ST | $325,000 | 2 | 1 | 1,019 | DETACHD | ||
| 5311 CHILDS RD | $349,000 | 4 | 2 | 1,764 | DETACHD | ||
| 28 PREAKNESS CT | 350000 | 5 | 4 | 2,871 | DETACHD | ||
| 72 CONDOLEA WAY | 375000 | 2 | 2.5 | 2,958 | CONDO | ||
| 880 BOCA RATAN DR | 399900 | 5 | 3 | 2,364 | DETACHD | ||
| 5916 SUNBROOK DR | 459900 | 3 | 2.5 | 2,617 | DETACHD | ||
| 1189 SUNNINGDALE CT | 484900 | 3 | 2.5 | 2,072 | DETACHD | ||
| 18064 JENIFERS WAY | 549950 | 3 | 2.5 | 2,639 | DETACHD | ||
| 22 SW DEL PRADO ST | 559900 | 5 | 3.5 | 4,056 | DETACHD | ||
| 5371 LANGFORD LN | 694950 | 4 | 2.5 | 2,950 | DETACHD | ||
| 18094 PILKINGTON RD | 739950 | 3 | 3.5 | 3,505 | DETACHD | ||
| 5087 LAKEVIEW BLVD | 749000 | 4 | 2.5 | 3,200 | DETACHD | ||
| 4256 LAKEVIEW BLVD | 1095000 | 4 | 3.5 | 3,117 | DETACHD |
PENDING SALES (Oct 4-Oct 10, 2010)
| Address | List Price | Bedrooms | Baths | Sq feet | Prop Type | ||
| 44 CRESTFIELD CT | $75,000 | 2 | 1 | 923 | CONDO | ||
| 86 KINGSGATE RD | $94,900 | 2 | 2 | 924 | ATTACHD | ||
| 15139 QUARRY RD | $224,900 | 3 | 2 | 1,328 | DETACHD | ||
| 5160 TUALATA LN | $304,900 | 3 | 2 | 1,470 | DETACHD | ||
| 1740 YARMOUTH CIR | $510,000 | 2 | 2.5 | 1,960 | DETACHD | ||
| 13596 STREAMSIDE DR | $579,900 | 4 | 2.5 | 3,430 | DETACHD | ||
| 2811 ARROWHEAD CT | $1,000,000 | 4 | 3.5 | 3,740 | DETACHD | ||
SOLD (Oct 4-Oct 10, 2010)
| Address | Original Price | Closed Price | BD/BATH | Sq feet | Prop Type | CDOM | ||
| 6125 FERNBROOK ST | $264,999 | $230,000 | 3/1.5 | 1,271 | DETACHD | 180 | ||
| 1684 BOCA RATAN DR | $248,900 | $240,000 | 3/2.0 | 1,611 | ATTACHD | 531 | ||
| 17683 ARBOR LN | $339,900 | $305,000 | 3/2.0 | 1,946 | DETACHD | 70 | ||
| 875 LEE ST | $378,900 | $345,500 | 3/2.0 | 2,200 | DETACHD | 483 | ||
| 2329 STONEHURST CT | $539,900 | $530,000 | 4/3.0 | 3,275 | DETACHD | 12 | ||
| 5700 CHILDS RD | $749,900 | $749,900 | 4/2.5 | 2,865 | DETACHD | 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
Open Houses 10/10/10
There certainly is a feeling of devine moment when the date is 10/10/10. Not sure exactly how or in what way, but it has a nice ring to it. Perhaps it’s the day that you are meant to find a house?
The RMLS has 15 homes promoted as open houses tomorrow. Enjoy the day!
| Address | Open | Price | Bedrooms | Baths | |
| 1400 Bonniebrae Dr | 1 to 3 | $169,500 | 2 | 1 | |
| 5713 SW Kenny St | 10 to 1 | $279,900 | 3 | 2 | |
| 1899 Woodland Terrace | 1 to 3 | $369,000 | 3 | 3.5 | |
| 252 N. Shore | 1 to 3 | $369,000 | 3 | 1 | |
| 2697 Lookout Ct | 2 to 4 | $429,000 | 3 | 2 | |
| 14466 Holly Springs Rd | 2 to 4 | $449,900 | 5 | 3 | |
| 12 Scarborough Dr | 1 to 4 | $499,900 | 4 | 2.5 | |
| 17930 Meadowlark Ln | 1 to 3 | $539,900 | 4 | 4 | |
| 4120 Southshore Blvd | 1 to 3 | 596,500 | 3 | 2 | |
| 15915 Waluga Dr | 1:30 to 3:30 | 598,950 | 3 | 2.5 | |
| 1785 Palisades Terrace Dr | 1 to 3 | 749,900 | 5 | 4.5 | |
| 17884 Kelok Rd | 1:30 to 4 | 774,000 | 5 | 3.5 | |
| 17896 Kelok Rd | 1:30 to 4 | 774,000 | 5 | 5 | |
| 18209 Siena Dr | 2:30 to 5 | 1,097,000 | 5 | 3.5 | |
| 1808 Ridge Pointe Dr | 2:30 to 5 | 1,269,000 | 5 | 4.5 |
A Sight Rarely Seen
The water level draw down of the lake is nearly complete and the sight is really something interesting. This draw down has happened to allow access to the bottom of the lake for installing the new city sewer line. The lake should be refilled by the time school lets out next June: in plenty of time for summer fun. In the mean time, it is just really something to see.
A word of caution: don’t be tempted to go out and walk on the lake. The soil is pretty much loose silt. One person has already had to be rescued: a construction worker who sank up to his arms. Take care also with your pets.
Market Activity ~ Sept 27-Oct 3, 2010
Market activity last week brought Lake Oswego 10 new listings, 9 pending sales, and 12 closed sales according to RMLS.
See below for further details:
NEWLY LISTED (Sept 27-Oct 3, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type |
| 44 CRESTFIELD CT | $75,000 | 2 | 1 | 923 | CONDO |
| 572 S STATE ST #8C | $180,000 | 2 | 1 | 914 | CONDO |
| 5054 FOOTHILLS DR #69E | $215,000 | 3 | 2 | 1252 | CONDO |
| 44 ORIOLE LN | $270,000 | 4 | 2.1 | 2224 | DETACHD |
| 3541 RED CEDAR WAY | $404,900 | 3 | 3 | 1963 | DETACHD |
| 17890 KELOK RD | $417,900 | 4 | 2.1 | 3095 | DETACHD |
| 4978 MULHOLLAND DR | $419,000 | 3 | 2.1 | 2498 | ATTACHD |
| 135 5th ST | $539,900 | 4 | 1 | 2200 | DETACHD |
| 17606 WOODHURST PL | $598,000 | 5 | 3.1 | 4488 | DETACHD |
| 15578 VILLAGE DR | $799,000 | 3 | 2.1 | 3630 | DETACHD |
PENDING SALES (Sept 27-Oct 3, 2010)
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 79 GALEN ST | $69,900 | 2 | 2 | 995 | CONDO | 35 |
| 668 MCVEY AVE #54 | $140,000 | 3 | 1.1 | 992 | CONDO | 5 |
| 2 MOUNTAIN CIR | $160,000 | 2 | 1.1 | 1504 | ATTACHD | 21 |
| 6447 MCEWAN RD | $169,900 | 2 | 1 | 912 | DETACHD | 115 |
| 6173 WASHINGTON CT | $314,000 | 3 | 2 | 1440 | DETACHD | 10 |
| 1462 GREENTREE CIR | $389,900 | 4 | 2.1 | 2507 | DETACHD | 138 |
| 571 2ND ST #307 | $631,000 | 2 | 2 | 1561 | CONDO | |
| 16461 CHAPIN WAY | $749,900 | 4 | 2.1 | 4271 | DETACHD | 488 |
| 3151 DOUGLAS CIR | $1,185,000 | 5 | 4.2 | 4400 | DETACHD | 125 |
SOLD (Sept 27-Oct 3, 2010)
| Address | O/Price | Close Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 512 S STATE ST | $129,900 | $90,000 | 1 | 1 | 829 | CONDO | 106 |
| 510 S STATE ST | $117,500 | $95,100 | 1 | 1 | 829 | CONDO | 58 |
| 16790 LAKE FOREST BLVD | $155,000 | $120,000 | 2 | 1 | 780 | DETACHD | 32 |
| 4201 COLLINS WAY | $279,000 | $278,000 | 3 | 2 | 1230 | DETACHD | 53 |
| 15265 BOONES WAY | $324,500 | $300,000 | 2 | 2.1 | 1560 | ATTACHD | 21 |
| 4664 FIRWOOD RD | $379,900 | $347,900 | 3 | 2 | 1640 | DETACHD | 53 |
| 231 LAUREL ST | $425,000 | $388,000 | 3 | 3 | 2244 | DETACHD | 119 |
| 17778 MARYLCREEK DR | $459,900 | $400,000 | 3 | 2.1 | 2741 | DETACHD | 49 |
| 325 3RD ST | $499,900 | $441,500 | 2 | 2.1 | 1937 | ATTACHD | 189 |
| 15 SCARBOROUGH DR | $549,000 | $494,000 | 5 | 3.1 | 3310 | DETACHD | 58 |
| 1050 Schukart LN | $599,000 | $561,015 | 3 | 3.1 | 5847 | DETACHD | 207 |
| 17281 KELOK RD | $1,195,000 | $845,000 | 3 | 3 | 2682 | DETACHD | 370 |
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