Tag: Linda Rossi Realtor

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Market Activity ~ Apr 27-May 3, 2015

All the numbers (and our collective subjective experience as Realtors) stack up to a continuing robust market:

Last week in Lake Oswego we saw 29 New properties enter the market, 19 move to Pending status, and 27 “Closed”/Sold.

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

NEW on Mkt (Apr 27-May 3, 2015)

Address List Price # Beds # Baths Total SF Prop Type
104 OSWEGO SMT #104 $99,000 1 1 764 CONDO
47 EAGLE CREST DR #14 $100,000 1 1 666 CONDO
45 EAGLE CREST DR #214 $179,000 1 2 1046 CONDO
4459 THUNDER VISTA LN #Grnd $255,000 2 2.1 1925 CONDO
16953 GREENTREE AVE $420,000 4 3 1941 DETACHD
4596 LAMONT WAY $424,900 4 2 2236 DETACHD
304 6TH ST $450,000 1 1 941 DETACHD
16915 CRESTVIEW DR $469,000 4 2.1 2180 DETACHD
28 AQUINAS ST $499,000 3 2 2000 DETACHD
2464 MARYLHAVEN PL $610,000 4 2.1 2898 DETACHD
19664 RIVER RUN DR $614,900 4 2.1 3051 DETACHD
17244 FERNWOOD DR $649,900 4 2.1 2617 DETACHD
3100 WEMBLEY PARK RD $700,000 3 3 3060 DETACHD
14001 WESTCOTT CT $724,900 4 2.1 3223 DETACHD
139 DEL PRADO ST $725,000 3 2 2895 DETACHD
13456 PROVINCIAL HILL WAY $729,000 3 2.1 2771 DETACHD
17065 TUALATIN ST $739,000 3 2.1 2733 DETACHD
6484 MCDUFF CT $749,000 4 4 3120 DETACHD
5955 SUNBROOK DR $759,000 4 3 3110 DETACHD
5650 BAY CREEK DR $859,900 4 2.1 3668 DETACHD
18360 DELENKA LN $859,900 5 3.1 4828 DETACHD
1055 COUNTRY CLUB RD $879,000 3 2 2908 DETACHD
18262 BRYANT RD $949,900 4 3.1 3428 DETACHD
19229 35TH PL $959,900 5 3.1 4764 DETACHD
910 FAIRWAY RD $1,069,000 4 3.1 3384 DETACHD
17518 RIDGEVIEW LN $1,282,000 4 3.1 4051 DETACHD
983 LAKE FRONT RD $1,595,000 3 2.1 2199 DETACHD
2950 WEMBLEY PARK RD $1,950,000 4 5.1 6329 DETACHD
1125 MAPLE ST $2,395,000 4 3.1 5481 DETACHD

PENDING SALES (Apr 27-May 3, 2015)

Address List Price # Beds # Baths Total SF Prop Type CDOM
54 GALEN ST #Upper $123,900 2 2 995 CONDO 42
45 EAGLE CREST DR #219 $189,900 3 2 1537 CONDO 14
668 MCVEY AVE #33 $284,900 2 1 852 CONDO 58
6288 SEVILLE AVE $295,000 3 2 1470 DETACHD 3
15434 STEPHANIE CT #Grnd $315,000 3 2.1 1566 ATTACHD 2
2031 BONNIEBRAE DR $319,900 4 2 1611 ATTACHD 6
7 CONDOLEA DR #Grnd $380,000 3 3 2388 CONDO 23
1428 GREENTREE CIR $399,950 4 2.1 2236 DETACHD 62
3919 SOUTHSHORE BLVD $424,900 3 4 2398 DETACHD 3
2705 ORCHARD HILL LN $489,000 4 2.1 2841 DETACHD 7
1297 HIDE A WAY LN $525,000 3 2.1 1832 DETACHD 6
4979 GALEN ST $555,000 4 2.1 3298 DETACHD 12
16920 GREENTREE AVE $625,000 4 2.1 2830 DETACHD 2
221 6TH ST $625,000 3 2 1508 DETACHD 14
6 CELLINI CT $705,000 5 3 3494 DETACHD 19
1854 OAK KNOLL CT $1,025,000 3 3 3530 DETACHD 237
1850 ATHERTON DR $1,179,000 3 2.1 4825 DETACHD 581
17620 BLUE HERON RD $1,198,000 4 3.1 4041 DETACHD 67
1017 LAKE FRONT RD $2,595,000 5 4.2 4070 DETACHD 206

SOLD  (Apr 27-May 3, 2015)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #52 $89,000 $84,000 1 1 666 CONDO 17
48 EAGLE CREST DR #1C $169,950 $97,500 2 2 1370 CONDO 231
320 CERVANTES CIR $129,900 $120,000 2 1 832 CONDO 44
4 TOUCHSTONE #158 $140,000 $142,000 2 2 984 CONDO 5
4 TOUCHSTONE #89 $160,000 $155,000 3 2.1 1351 CONDO 72
16250 PACIFIC HWY #45 $194,900 $175,000 2 2 1311 CONDO 71
200 BURNHAM RD #402 $199,500 $190,000 2 2 1305 CONDO 261
3144 DIANE DR $224,900 $280,000 3 1.1 1632 DETACHD 31
16472 BONAIRE AVE $289,900 $350,000 3 2 1464 DETACHD 3
5530 BONITA RD $398,000 $389,900 3 2 1200 DETACHD 34
17280 WESTVIEW DR $429,000 $416,000 4 3 2324 DETACHD 6
4711 REMBRANDT LN $450,000 $452,000 3 2.1 2050 DETACHD 3
32 SPINOSA $479,000 $455,900 4 3.1 2542 DETACHD 1964
6459 FROST ST $499,900 $488,500 4 2.1 2627 DETACHD 101
17380 CANYON DR $514,950 $493,000 4 2.1 2526 DETACHD 145
18582 BRYANT RD $499,995 $504,500 3 2.1 2400 DETACHD 7
1585 PATTON RD $539,900 $515,000 4 3 3162 DETACHD 314
18634 Bryant RD $551,995 $534,995 3 2.1 2736 DETACHD
1008 SPRUCE ST $535,000 $535,000 3 2.1 1765 DETACHD 6
1380 BONNIEBRAE DR $730,000 $675,000 5 3 2940 DETACHD 109
2286 WEMBLEY PARK RD $699,000 $699,000 3 3 2000 DETACHD 43
15203 LILY BAY CT $779,000 $765,000 4 2.1 3219 DETACHD 34
5032 DENTON DR $799,900 $800,000 3 2.1 3205 DETACHD 0
17900 GREENBLUFF DR $949,000 $900,000 4 3.1 4210 DETACHD 300
18042 SKYLAND CIR $1,150,000 $1,080,000 5 3 4800 DETACHD 212
16655 MAPLE CIR $1,269,000 $1,189,000 3 2 2030 DETACHD 12
1059 BAYBERRY RD $1,399,950 $1,375,000 4 3.1 3550 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.

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Economic Recovery

The great recession of 2007-2013 is now well in the past with just a few lingering elements. I thought it would be helpful to share some insight on how this may affect your decision to buy or to sell a home.

Is it time to become a homeowner, again?

I am now seeing folks who lost their home to foreclosure, shortsale, or perhaps went through a bankruptcy getting back into home ownership. This chart was given to me by Ginny Schider, a wonderful loan officer at Pacific Residential Mortgage (503-319-3646). It shows the wait time necessary before you can be eligible for a new mortgage if you have experienced one of these events:

Loan Program Chapter 7 Bankruptcy Chapter 13 Bankruptcy Shortsales Foreclosure
or Deed-in-liew
Fannie Mae
Insured Loans 4 years from discharge 2 years from discharge 4 years 7 years
4 years from dismissal
Feddie Mac 5 years 5 years 4 years 7 years
Insured Loans
FHA 2 years from discharge 12 months acceptable 3 years 3 years
payment history
USDA 3 years 3 years 3 years 3 years
VA 2 years from discharge 2 years from discharge 2 years 2 years

I have worked with folks in this situation and I’ve got to say it one of the most rewarding experiences I’ve ever had as a Realtor. Seeing folks who have been through hard times getting back on their feet and moving forward with the ability to rebuild their lives.

Still a few lingering foreclosures and shortsales
It’s referred to as the shadow inventory. These are distressed properties that banks have been holding onto. They simply did not want to release too many foreclosures all at the same time. Foreclosures and shortsales tend to sell for less. So if too many happen all at once, they tend to cause declining home values. Banks addressed this by not putting them on the market. Some are vacant homes that are just sitting in neighborhoods because the house has already been foreclosed upon. Others are home owners who know their house is in foreclosure, but the bank has not finalized it. I am aware of people who have been living in homes, not making mortgage payments, but not being kicked out, for years. I believe banks choose to allow this to happen because if the person in default is still in the house, then the house is being heated and watched over. It is simply safer for the property.

I don’t know how long it will take for these hold out foreclosures to be sold, but they are continuing to trickle onto the market.

Shortsales have become much less common. This is because as values have come back, many home owners are now no longer under water with a mortgage that is greater than their home value. This is not to say that they are not still happening. It is simply less frequent.

So, while the recession is technically over, effects from it are still happening. And if you are someone who went through a bankruptcy, foreclosure, or shortsale, the good news is you may be approaching the time when you can become a home owner again. Don’t hesitate to give Whitney, Linda, or myself a call if you need a good Realtor!

Dianne

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Market Activity April 13-19, 2015

We are continuing to see more houses selling than houses coming on the market. This means inventory is tight and it is more of a seller’s market. The majority of houses are selling quite quickly, but there are still a few that have had extended market time. This reflects how important it is to get the pricing right when you list your house for sale. Priced right it will sell fast!

Last week in Lake Oswego we had 19 houses come onto the market, 26 move to pending status, and 24 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (Apr 13-19, 2015)

Address Type Price BR Bths SF
48 Eagle Crest Dr 3D Condo $248,000 2 2 1434
13985 Sundeleaf Dr Detached $359,990 3 2 1278
18651 Don Lee Way Detached $399,000 4 2 1630
17270 Bryant Rd Detached $399,000 3 3 2619
13431 Vermeer Dr Detached $499,000 3 2.5 2700
13951 Shireva Ct Detached $499,900 4 3 2185
5695 Washington Ct Detached $515,000 4 2 1769
5600 Dogwood Dr Detached $525,000 3 2 1908
5554 Royal Oaks Dr Detached $539,000 3 2 1861
4979 Galen St Detached $579,900 4 2.5 3298
221 6th St Detached $625,000 3 2 1508
2699 Tolkien Ln Detached $670,000 4 2.5 3115
13010 Sierra Vista Dr Detached $774,900 5 3.5 3450
4055 Orchard Dr Detached $795,000 5 3.5 3354
16987 Alder Circle Detached $839,000 3 2.5 1987
1821 Oak St Detached $899,000 4 3.5 5510
17353 Ridgeview Ct Detached $1,285,000 4 3.5 4032
14 Dover Way Detached $1,485,000 5 3.5 4593
2322 Knaus Rd Detached $1,595,000 4 3.5+.5 4875

Pending Sales (Apr 13-19, 2015)

Address Type Price BR Baths SF DOM
48 Eagle Crest Dr 1C Condo $99,900 2 2 1370 231
16250 Pacific Hwy #82 Condo $150,000 1 1 841 17
4 Touchstone #89 Condo $155,000 3 2.5 1351 72
1400 Bonniebrae Dr Attached $185,000 2 1 864 4
45 Eagle Crest Dr #219 Condo $189,000 3 2 1537 5
4107 Jefferson Pkwy Condo $237,500 2 2.5 1367 7
4283 Woodside Circle Attached $359,900 4 2 2032 10
1878 Mapleleaf Rd Detached $399,900 3 1.5 1347 5
5866 Ridgetop Ct Detached $407,500 3 2 1866 2
5210 Coventry Ct Detached $510,000 3 2.5 2135 2
1901 Woodland Terr Detached $519,000 4 3 2944 1
1119 Oak St Detached $529,900 4 2.5 2123 99
5326 Childs Rd Detached $549,901 3 2.5 1801 57
17650 Westview Dr Detached $565,000 4 3 2849 101
238 5th St Detached $657,000 3 2 2134 69
15 Nansen Summit Detached $685,000 3 2.5 3098 17
4125 Hedge Nettle Ct Detached $715,000 4 2.5 2890 6
4123 Chad Dr Detached $795,000 4 3.5 3833 186
18977 Barton Rd Detached $875,000 4 3.5+.5 5076 30
49 Briarwood Rd Detached $950,000 3 2 2162 138
13017 Knaus Rd Detached $1,249,000 4 3.5 46990 329
1059 Bayberry Rd Detached $1,399,950 4 3.5 3550 89
2410 Summit Ct Detached $1,595,000 3 3.5 3750 0
2493 Southshore Blvd Detached $2,895,000 5 5.5 7112 458
1780 Ridgecrest Dr Detached $3,750,000 4 5.5 6000 35

Sold/Closed (Apr 13-19, 2015)

Address Type List Price Closed Price Sq Ft CDOM
44 Eagle Crest Dr #1 Condo $134,900 $134,900 908 3
48 Eagle Crest Dr Condo $184,900 $152,500 1623 65
5225 Jean Rd Condo $170,000 $165,000 1100 10
900 Cornell St Detached $314,000 $295,000 1,300 24
668 McVey Ave #72 Condo $325,000 $325,000 1184 2
44 Oriole Ln Detached $389,000 $393,000 2156 6
134 Kingsgate Rd Detached $399,000 $397,100 1794 5
732 Clara Ct Detached $499,900 $402,500 2935 713
14201 Dolph Ct Detached $449,000 $432,500 1864 53
13855 Verte Ct Detached $449,000 $450,000 1835 12
1725 Fernwood Dr Detached $479,000 $460,000 1580 13
18768 Wood Duck St Detached $599,900 $477,500 2940 346
13721 Regency Ct Detached $509,500 $492,500 2311 102
18706 Bryant Rd Detached $519,995 $499,995 2400 23
6 Northview Ct Attached $532,500 $522,000 3200 14
1015 Southshore Blvd Detached $629,000 $603,500 3882 43
5665 Grand Oaks Dr Detached $780,000 $720,000 4226 1
1785 Palisades Terrace Dr Detached $799,000 $735,275 5052 227
2109 Wembley Park Rd Detached $795,000 $795,000 3154 73
2726 Rivendell Rd Detached $849,000 $849,000 3315 2
816 4th St Detached $949,900 $949,900 2699 9
703 5th St Detached $979,000 $979,000 2,719 4
17335 Canal Circle Detached $1,050,000 $1,050,000 2092 0
17138 Cedar Rd Detached $1,569,000 $1,410,000 3017 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.

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News & Notes

 

l-lake-oswego-mansion

 

 

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

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

  • There were 3,596 New Listings in March which was up a full 24.7% from last month/February! and up 16.4% from March of 2014.
  • At 2,457 March Closed Sales increased a whopping 49.1% over February! and were up  32.3% from March of 2014.
  • March Pending Sales (accepted offers), at 3,384, was the strongest since 2006. Up… 33.5%  from February AND March of 2014.
  •  The Average Sale Price in March of $337,200 was up $9,200. from February’s Average of $328,000, and almost exactly the same from March of 2014’s $328,100. 

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

    • 373 Active Listings  (360 in Feb)
    • 209 New Listings    (198 in Feb)
    • 174 Pending Sales    (149 in Feb)
    • 130 Closed Sales   (86 in Feb)
    • Average Sale Price for March of $475,900.  ($518,300 in Feb)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can scew 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: 104 Days  (100 in Feb)
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Market Activity ~ April 6-12, 2015

Its springtime in Lake Oswego and activity is brisk. Here is your Latest Market Activity Report:

Last week in Lake Oswego we saw 18 New properties enter the market, 25 move to Pending status, and 17 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Apr 6-12, 2015)

Address List Price # Beds # Baths Total SF Prop Type
44 EAGLE CREST DR ##39 $139,900 2 2 1085 CONDO
100 KERR PKWY #1 $159,500 2 2 1188 CONDO
170 OSWEGO SMT $177,100 2 2 1506 CONDO
4107 JEFFERSON PKWY $237,500 2 2.1 1367 CONDO
668 MCVEY AVE #24 $239,000 1 1 626 CONDO
1023 HALLINAN ST $349,000 3 1.1 1097 DETACHD
4283 WOODSIDE CIR $359,900 4 2 2032 ATTACHD
1878 MAPLELEAF RD $399,900 3 1.1 1347 DETACHD
5434 WILLOW CT $489,000 3 2.1 2446 ATTACHD
16889 WIGHT LN $489,000 4 2.1 2386 DETACHD
6 CELLINI CT $705,000 5 3 3494 DETACHD
4125 HEDGE NETTLE CT $715,000 4 2.1 2890 DETACHD
3180 WESTVIEW CT $875,000 5 3.1 4216 DETACHD
18320 RIVER EDGE LN $995,000 4 4 4342 DETACHD
3072 LAKEVIEW BLVD $1,150,000 5 5.1 4030 DETACHD
17327 KELOK RD $1,250,000 3 3 2300 DETACHD
3301 UPPER DR $1,400,000 4 3.1 4555 DETACHD
16511 MAPLE CIR $1,695,000 4 2.1 3342 DETACHD

PENDING SALES (Apr 6-12, 2015)

Address List Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #52 $89,000 1 1 666 CONDO 17
15 OSWEGO SMT #15 $106,000 2 2 1212 CONDO 357
62 GREENRIDGE CT / Grnd $260,000 3 2 1596 CONDO 147
200 BURNHAM RD #209 $299,900 2 2 1305 CONDO 5
16875 TRACY AVE $320,000 4 2 1825 DETACHD 2
16470 BRYANT RD $324,900 3 2 2024 DETACHD 140
115 TOUCHSTONE TER $329,900 4 2.2 2848 ATTACHD 8
44 AQUINAS ST $379,900 4 2 1870 DETACHD 24
5324 LOWER DR $395,000 3 2.1 2034 DETACHD 3
4972 GALEN ST $415,000 2 3 1942 ATTACHD 175
5189 TUALATA LN $440,000 3 2 2422 DETACHD 150
18481 WAXWING CIR $459,000 3 2.1 1840 DETACHD 22
18640 TUALATA AVE $463,500 4 2 2076 DETACHD 4
17380 CANYON DR $514,950 4 2.1 2526 DETACHD 145
18530 BRYANT RD $514,995 3 2.1 2400 DETACHD 14
18728 Bryant RD $524,995 3 2.1 2736 DETACHD
2550 SOUTHSHORE BLVD $575,000 4 3.1 3721 DETACHD 159
12615 SW 21ST CT $739,000 4 3.1 4594 DETACHD 36
17572 SHEPHERDS CT $779,900 4 3 2983 DETACHD 36
2671 GLEN EAGLES RD $825,000 3 3 4019 DETACHD 5
496 8TH ST $879,000 4 2 2899 DETACHD 35
1901 SUMMIT DR $899,000 4 3.1 3444 DETACHD 7
13371 ATWATER LN $899,000 4 3 4795 DETACHD 0
17970 ROYCE WAY $1,125,000 5 4.1 5355 DETACHD 34
720 KENOLA CT $1,200,000 3 3.1 3727 DETACHD 53

SOLD  (Apr 6-12, 2015)

Address OpeningPrice Closed Price # Beds # Baths Total SF Prop Type CDOM
56 GALEN ST / Upper $142,500 $142,500 2 2 1000 CONDO 10
3433 MCNARY PKWY #506 $175,000 $185,000 2 2.1 1136 CONDO 3
3970 SW CARMAN DR / Grnd $219,900 $215,000 2 2.1 1129 CONDO 8
132 TOUCHSTONE TER $280,000 $280,000 3 2.1 1964 ATTACHD 0
65 KINGSGATE RD $299,900 $290,025 3 2 1237 ATTACHD 4
38 WHEATHERSTONE $299,900 $299,900 3 2.1 1692 ATTACHD 8
19060 INDIAN SPRINGS CIR $435,000 $408,000 3 2 1355 DETACHD 26
1107 CHERRY LN $424,900 $425,000 3 2 2094 DETACHD 10
18863 INDIAN SPRINGS RD $439,900 $439,900 4 3 2001 DETACHD 3
4733 FIRWOOD RD $474,900 $472,000 4 3 2310 DETACHD 189
34 DEL PRADO ST $569,950 $522,000 4 3 3120 DETACHD 101
18790 Bryant RD $544,995 $524,995 3 2.1 2400 DETACHD
409 MIDDLECREST RD $599,000 $595,000 3 3 2135 DETACHD 15
1890 CREST DR $769,000 $692,500 3 2.1 2782 DETACHD 144
14128 EDENBERRY DR $749,900 $752,000 4 2.1 3168 DETACHD 10
14488 PFEIFER DR $825,000 $869,700 4 3.1 3563 DETACHD 2
18360 RIVER EDGE LN $957,000 $925,000 4 2.1 3738 DETACHD 22

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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Tree City USA

“The wonder is that we can see these trees and not wonder more”
-Ralph Waldo Emerson

This year Lake Oswego is celebrating 26 years as a designated Tree City USA! This is given to cities that demonstrate a strong commitment to managing and caring for trees by the National Arbor Day Foundation. With Arbor week being April 5-11, it seem appropriate to do some bragging about the beautiful trees in Lake Oswego.

trees 002The Natural Resources Advisory Board for the city designates significant trees in the city as “Heritage Trees”. Four new trees are being given this designation this year: two sycamores at 16584 Roosevelt Avenue, a giant sequoia at 14145 Redwood Ct, and a madrone at Oswego Pioneer Cemetary on Stafford Road. That brings the total number of trees with this designation to 35.

In honor of Arbor Week, the city has got some pretty fun events planned:

Free the Trees is a concept that began in Springbrook Park. The idea is that while it is hard to clear all of the English Ivy out of the Park all at once, if it’s done gradually it gets done over time. English Ivy, left to grow unchecked, kills trees. People who take walks through the park were asked trim and remove the ivy around one tree while on their walk. It worked! If you would like to join in the effort, you can get more information by contacting Babs Hamachek at bhamachek@ci.oswego.or.us.

trees 003Stafford Grove Tree Planting & Poetry Reading. Thursday, April 9, 1:30-2:30, 1061 Sunningdale Rd. Join the Forest Hills/First Edition Neighborhood Association in planting a tree, and then listen to former Oregon Poet Laureate Paulann Peterson reading poetry.

Barnyard Tales & Heritage Tree Walk. Wednesday, April 8, 10-11am at Luscher Farm, 125 Rosemont Road. Lynne Bacon, a renowned storeyteller, will be holding a story time on the farm followed by a visit to the Heritage Trees that are located on the farm. Space is limited, so you need to register, although it is a free event. Register on line at www.loparks.org, use activity code #10646.

Blossoming Tree Craft. Saturday, April 9, 2-4pm, LO Library, 706 4th St. Make beautiful blossoming tree crafts. For all ages of tree lovers.

I personally have 4 HUGE trees in my yard, 3 firs and a glorious English walnut. They really enhance the feeling of sanctuary that I feel about my home.

Trees
-Joyce Kilmer
“I think that I shall never see
A poem lovely as a tree…….”

As always, thanks for reading the blotter,
Dianne

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Market Activity March 23-29, 2015

It was exactly 28 years ago today that I got my real estate license, no foolin’! I have always found amusement in the anniversary. I can not believe it has been 28 years, seriously. I’ve gone from being the young new agent to the seasoned “mature” agent. I love it!

Just 12 new listings last week certainly reflects that it was spring break. People were likely out and about vacationing and enjoying their families. 22 pending sales is also a refection of the holiday from school that freed up families to look for a new home. We also had 20 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (March 23-29, 2015)

Address Type Price BR Bths SF
47 Eagle Crest Dr #52 Condo $89,000 1 1 666
100 Kerr Parkway #52 Condo $105,000 1 1 617
4 Touchstone#107 Condo $158,000 3 2.5 1351
3970 Carman Dr Condo $219,900 2 2.5 1129
5062 Foothills Dr H Condo $250,000 3 2 1252
5364 Rosewood St Detached $449,900 4 2.5 1980
4711 Rembrandt Ln Detached $450,000 3 2.5 2050
6192 Harrington Ave Detached $489,000 5 3 2817
18530 Bryant Rd Detached $514,995 3 2.5 2400
1426 Greentree Circle Detached $545,000 4 3 3216
639 Carrera Ln Detached $849,000 5 3.5 4305
19300 Stafford Rd Detached $1,995,000 4 2.5 6065

Pending Sales (March 23-29, 2015)

Address Type Price BR Baths SF DOM
320 Cervantes Circle Condo $123,000 2 1 832 44
44 Eagle Crest Dr #3 Condo $145,000 3 2 1065 25
15938 Quarry Rd A-5 Condo $164,900 2 1 996 7
48 Eagle Crest Dr Condo $166,500 3 2 1623 65
5530 Bonita Rd Detached $398,000 3 2 1200 34
134 Kingsgate Rd Detached $399,000 3 2.5 1794 5
13901 Sundeleaf Dr Detached $399,000 4 3 1900 60
4909 Lower Dr Detached $425,000 4 2.5 1992 72
17280 Westview Dr Detached $429,000 4 3 2324 6
103 Garibaldi St Detached $479,000 3 3.5 3322 1215
18582 Bryant Rd Detached $499,995 3 2.5 2400 7
1119 Oak St Detached $529,900 4 2.5 2123 76
980 C Ave Detached $539,900 3 2 1312 65
279 Evergreen Rd Attached $639,000 3 3.5 2136 9
2189 Fernwood Circle Detached $650,000 4 2.5 2921 4
4945 Parkhill St Detached $659,900 5 2.5 3302 0
1670 Pine St Detached $675,000 4 3.5 3286 17
667 3rd St Attached $679,000 6 6 3120 10
15947 Waluga Dr Detached $725,000 4 2.5 3370 18
4405 Sundew Ct Detached $789,000 5 3.5 4820 11
715 4th St Detached $1,015,000 3 2.5 2762 3
4077 Westview Rd Detached $1,748,000 4 4 3644 17

Sold/Closed (March 23-29, 2015)

Address Type List Price Closed Price Sq Ft CDOM
106 Oswego Summit Condo $165,000 $165,000 1140 5
16805 Gassner Ln Detached $225,000 $225,000 1092 7
1260 Hallinan St Detached $298,000 $298,000 1325 4
4287 Haven St Detached $375,000 $375,000 1,200 1
3402 Lake Grove Ave Detached $414,900 $395,000 1686 102
7 Bernini Ct Detached $549,000 $420,000 3314 376
12836 Sierra Vista Dr Detached $449,000 $425,000 2166 19
5926 Dove Ct Detached $435,000 $450,000 1807 2
886 9th St Detached $469,500 $450,000 860 23
18929 Terry Ave Detached $499,900 $480,000 2441 20
1710 Glenmorrie Terrace Detached $499,900 $505,000 2865 135
3285 Childs Rd Detached $599,900 $612,000 2693 3
4258 Albert Circle Detached $689,000 $625,000 2745 197
19242 Indian Springs Rd Detached $749,900 $745,000 3365 35
5488 Southwood Dr Detached $799,000 $788,500 3280 112
1136 Westward Ho Rd Detached $1,190,000 $780,000 3344 324
568 9th St Detached $925,000 $900,000 2825 85
12810 Alto Park Rd Detached $944,000 $981,000 3834 97
18224 Bella Terra Dr Detached $1,225,000 $1,160,000 3834 97
2490 Summit Dr Detached $2,200,000 $2,020,000 3000 212

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

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

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

  • There were 2,884 New Listings in February which was up 4.4% from January, and up 22.5% from February of 2014.
  • At 1,648, February Closed Sales increased 11.6% over January, and were up  12.3% from February of 2014.
  • February Pending Sales (accepted offers), at 2,534, was the strongest since 2007. Up… 10.5%  from January, and up a whopping 37.1% from February 2014.
  •  The Average Sale Price in February of $328,000 was down $1,400 from January, and up $2,500 from February of 2014. 

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

    • 360 Active Listings
    • 198 New Listings
    • 149 Pending Sales
    • 86 Closed Sales
    • An Average Sale Price for February of $518,300.
    • Average Time on the Market: 100 Days
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Market Activity ~ March 16-22, 2015

The Lake Oswego market is humming right along.  Here is your Latest Market Activity Report:

Last week in Lake Oswego we saw 20 New properties enter the market, 24 move to Pending status, and 18 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Mar 16-Mar 22, 2015)

Address List Price # Beds # Baths Total SF Prop Type
2189 FERNWOOD CIR $650,000 4 2.1 2921 DETACHD
15938 QUARRY RD #A5 $164,900 2 1 996 CONDO
5157 WOODCREST LN $649,900 4 2.1 3144 DETACHD
17280 WESTVIEW DR $429,000 4 3 2324 DETACHD
11 CHURCHILL DOWNS $430,500 4 2.1 2336 DETACHD
18481 WAXWING CIR $465,000 3 2.1 1840 DETACHD
279 EVERGREEN RD $639,000 3 3.1 2136 ATTACHD
18977 BARTON RD $875,000 4 3.2 5076 DETACHD
0 STAFFORD RD Lot 2 $899,000 4 3.1 2834 DETACHD
134 KINGSGATE RD $399,000 3 2.1 1794 DETACHD
6109 SUMMER WOODS $485,000 4 2.1 2331 DETACHD
25 PARTRIDGE LN $485,000 3 2.1 3148 DETACHD
14383 HOLLY SPRINGS RD $450,000 5 3 2238 DETACHD
54 GALEN ST Upper $135,900 2 2 995 CONDO
14084 GOODALL RD $1,424,900 5 5.1 5399 DETACHD
4201 HAVEN ST $649,900 4 3 2678 DETACHD
667 3RD ST $679,000 6 6 3120 ATTACHD
2609 GLEN HAVEN RD $1,100,000 4 4 3793 DETACHD
2481 MARYLSHIRE LN $795,000 5 3.1 4154 DETACHD
17701 BLUE HERON WAY $499,900 3 2.1 2002 DETACHD

PENDING SALES (Mar 16-Mar 22, 2015)

Address List Price # Beds # Baths Total SF Prop Type CDOM
13721 REGENCY CT $492,500 3 2.1 2311 DETACHD 102
13554 PETERS RD $899,850 3 2.5 3036 DETACHD 36
66 GALEN ST Upper $99,900 1 1 689 CONDO 111
550 2ND ST $395,000 2 1.2 1540 CONDO 286
16735 LAKE FOREST BLVD $315,000 3 2 1192 DETACHD 144
1990 GREENTREE RD $459,900 4 3 2100 DETACHD 11
13819 PROVINCIAL HILL DR $549,900 4 2.1 2096 DETACHD 24
703 5TH ST $979,000 4 2.1 2719 DETACHD 4
200 BURNHAM RD #306 $195,000 2 1 1199 CONDO 29
18706 Bryant RD $499,995 3 2.1 2400 DETACHD
9 DA VINCI ST $399,900 3 2 1768 DETACHD 5
1585 PATTON RD $539,900 4 3 3162 DETACHD 314
1015 SOUTHSHORE BLVD $619,900 4 3 3882 DETACHD 43
17763 MARDEE AVE $447,000 5 3 2300 DETACHD 10
4070 VIRGINIA WAY $747,500 3 2.1 3510 DETACHD 44
9 TOUCHSTONE $397,000 3 2 1890 DETACHD 15
44 AQUINAS ST $379,900 4 2 1870 DETACHD 2
1272 ZIVNEY LN $679,900 4 3 2658 DETACHD 16
1725 FERNWOOD DR $479,000 4 2.1 1580 DETACHD 13
4182 GLACIER LILY ST $630,000 4 3 2799 DETACHD 4
5707 YORKSHIRE CT $780,000 4 3.1 3400 DETACHD 0
2286 WEMBLEY PARK RD $699,000 3 3 2000 DETACHD 103
1033 OBRIEN ST $325,000 4 2 1416 DETACHD 25
17101 CHAPIN WAY $519,000 3 2 1949 DETACHD 6

SOLD  (Mar 16-Mar 22, 2015)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4650 LOWER DR /Lower $125,000 $115,000 2 1.1 1260 CONDO 86
1349 BONNIEBRAE DR /Twnhs $239,000 $219,600 3 1.1 1303 ATTACHD 118
17225 CHAPIN WAY $395,000 $347,000 3 2 2257 DETACHD 119
18 OSWEGO SMT #18 $69,900 $53,500 1 1 764 CONDO 176
4524 LOWER DR #A3 $315,000 $265,000 3 2.1 1650 CONDO 147
86 KINGSGATE RD #F-106 $142,000 $142,000 2 2 840 CONDO 3
4171 OLD GATE RD $350,000 $330,000 4 2 1752 DETACHD 7
4 TOUCHSTONE #136 $178,500 $163,700 3 2.1 1351 CONDO 5
124 D AVE /Twnhs $550,000 $550,000 2 2.1 1754 ATTACHD 7
2508 ORCHARD HILL PL $439,900 $452,000 3 2.1 2229 DETACHD 4
368 CERVANTES CIR /Twnhs $129,500 $117,999 2 1 882 CONDO 27
1625 BEDFORD CT $595,000 $574,000 2 2.1 2462 DETACHD 9
5487 TUALATA CT $339,455 $339,455 3 2 1200 DETACHD 1
751 BRIERCLIFF LN $528,950 $519,950 4 3 2534 DETACHD 32
127 DEL PRADO ST $459,000 $459,000 4 3 2310 DETACHD 5
17617 ARBOR LN $390,000 $390,000 3 2 1745 DETACHD 214
116 OSWEGO SMT #116 $139,000 $132,000 2 2 1140 CONDO 323
121 LEONARD ST #C $185,000 $178,000 2 2 1118 CONDO 131

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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Home Warranties

Home warranties have become a common part of the majority of real estate transactions. It is basically an insurance policy that covers the home system components and some of the appliances. My most simple description is that if you think about items that have energy or movement in them, it is more likely to be part of the policy. Each policy is slightly different, so please consult the companies who offer them, but what is usually covered are furnace, water heater, plumbing and electric elements. What isn’t covered are stationary elements like the roof, the foundation, the walls.

When policies are purchased, they are good for one full year from the date of purchase and can then be annually renewed thereafter. I have twice had clients who received the policy when they purchased their home and then kept it the entire time they owned the house.

There are numerous companies who offer these policies. I am going to tell you about the three that I see most used in our area.

ahs_logo_176x65American Home Sheild is the big boy in this field. They were the first company I heard of and they do a big percentage of the plans that are sold. They have 3 plans: Esssential, Plus, and Complete. The numbers I am going to give you here are as of this day, and do not include quite a few options that could be added on. It is based upon a home that is single family, in Oregon, 10+ years of age (newer homes are slightly less expensive) and does not include air conditioning (which could be added on).

The Essential Plan does not cover any appliances. It does cover the furnace, water heater, plumbing and electric. It costs $380. The Plus plan covers the appliances, including the refrigerator and the washer and dryer, and it costs $510. The complete plan adds to the coverage things like the garage door opener, the door bell, and ceiling fans. It costs $565.

To use the policy you simply call an 800 number to make a claim. American Home Shield contracts locally and sends a technician to your home. There is a $75 charge for each service call.

It is possible to place the policy on the home at the time it is listed for sale. I highly recommend this. It is not paid for until the house is sold. If the house is never sold then there is no charge for the coverage unless the policy is used and that charge is just $60. So it is really affordable and the policy could potentially be used to deal with home inspection issues.

logoFirst American Home Buyer Protection Corporation is another well known company. They have two plans: Basic and Value+. Basic covers the home systems including the dishwasher and the range, but no refrigerator or washer/dryer. It costs $290. The Value+ plan adds air conditioning and it costs $420. Other items can be added to this plan, as it can be added to the other two, such as septic systems, swimming pools, the washer/dryer and the refrigerator. The service call to make a claim is $60. First American Home Buyer Protection also offers 180 days of coverage to the seller when the house is listed for sale at no charge, unless the policy is used and then the house is not sold, then there is a charge of $60.

home_warrantyLast I will mention Fidelity National Home Warranty They offer two plans: Standard and Comprehensive. The Standard plan does not include air conditioning and it costs $260. The Comprehensive plan does include the air conditioning and it costs $360. Both plans cover the dishwasher and the range, but neither cover the washer, dryer or refrigerator, which can be added on for an additional charge. The service call to make a claim is $65. Coverage for the seller at the time the house is listed for sale is available at no charge.

I think it’s pretty easy to see why purchasing one of these policies makes sense. For someone selling it may help cover repair issues and it certainly helps the buyer have a better comfort level with the home. For buyers, who usually spend most of their money on the down payment and the closing costs, it helps them to feel like they have a financial cushion for the first year that they will own the home.

Who pays for the policy? It’s negotiated between the buyer and the seller. I think it depends a lot on how long the house has been on the market without an offer, and also on how close to the asking price the buyer is offering.

I want to encourage you to do your research before you make or receive an offer. Figure out which plan you like and make sure it covers the elements that are of concern to you.

I am not an expert on these policies. I want to encourage you to contact these companies yourself to get exact information. Here is the contact info:

American Home Shield, 866-406-0440, www.ahs.com

First American Home Buyer Protection Corporation, 888-875-0533, www.homewarranty.firstam/Default.aspx

Fidelity National Home Warranty, 800-308-1420, www.homewarranty.com

Do not hesitate to get in touch with Linda, Whitney, or myself, if you have any questions about real estate!
Dianne