Tag: Living in Lake Oswego

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Market Activity for May 17-23, 2010

The housing market in Lake Oswego included 19 new listings, 15 pending sales, and 14 closed sales. You will probably notice some categories moved/missing/changed. Linda and I use a macro in excell to develop these charts. RMLS has made technical changes that are affecting our macro, which we need to re-work. Thanks for your patience while we get the kinks ironed out. I think the basic data is here.

Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (May 17—23, 2010)

Address List Price # BR SF Up+Mn Prop Type
322 CERVANTES CIR $85,000 2 832 CONDO
512 S STATE ST $129,900 1 829 CONDO
668 MCVEY AVE $149,000 2 976 CONDO
16515 INVERURIE RD $299,000 3 1,772 DETACHD
16808 INVERURIE RD $299,900 3 1,182 DETACHD
14372 CAMDEN LN $448,500 3 2,348 DETACHD
1462 GREENTREE CIR $449,900 4 2,507 DETACHD
8 MORNINGVIEW CIR $529,900 3 2,217 DETACHD
230 4TH ST 619900 3 2,165 DETACHD
13265 FOX RUN 680000 3 2,614 DETACHD
17632 WOODHURST PL 699900 5 – DETACHD
17970 ROYCE WAY 799000 4 2,713 DETACHD
19000 BRYANT RD 965000 5 5,874 DETACHD
1425 CHANDLER RD 978000 4 2,204 DETACHD
1235 CHANDLER RD 985000 5 2,044 DETACHD
17301 BERGIS FARM DR 1060000 4 – DETACHD
2569 GLEN EAGLES PL 1349000 5 4,591 DETACHD
13900 GOODALL RD 1600000 5 4,282 DETACHD
1973 CHERYL CT 1695000 5 4,396 DETACHD

PENDING SALES (May 17-23, 2010)

Address List Price # BR Sq Ft SF Up+Mn Prop Type CDOM
100 KERR PKWY $77,500 2 823 823 CONDO 66
100 KERR PKWY $92,500 2 823 823 CONDO 27
3433 SW MCNARY PKWY $123,900 2 1008 1,008 CONDO 98
32 CERVANTES CIR $129,500 2 1092 912 CONDO 160
136 TOUCHSTONE TER $279,000 3 1996 1,198 DETACHD 243
729 3RD ST $295,000 4 1671 1,671 DETACHD 10
4313 ALBERT CIR $367,900 3 1790 1,790 DETACHD 14
1255 BAYBERRY RD $375,000 3 1901 1,901 DETACHD 253
1400 LEE ST 421500 4 2804 1,514 DETACHD 146
24 PARTRIDGE LN 449000 4 3224 3,224 DETACHD 40
675 10TH ST 490000 4 2280 1,272 DETACHD 374
14158 KIMBERLY CIR 530000 5 3548 3,648 DETACHD 18
1158 BAYBERRY RD 649000 4 2386 2,386 DETACHD 10
1703 VILLAGE PARK LN 749000 3 3450 3,450 DETACHD 156
1414 COUNTRY COMMONS 945000 4 5679 3,082 DETACHD 68

SOLD (May 17-23, 2010)

Address Closed Price Original Price #BR Sq Ft Prop Type CDOM
65 OSWEGO SMT $118,000 $129,900 2 1,140 CONDO 8
5051 FOOTHILLS DR $169,900 $210,000 2 991 CONDO 248
750 1ST ST $178,000 $195,000 2 1,350 CONDO 73
5056 FOOTHILLS DR $257,000 $299,900 2 1,252 CONDO 194
19032 KRISTI WAY $262,000 $259,900 2 1,390 DETACHD 7
4420 GOLDEN LN $295,000 $279,900 3 2,165 CONDO 391
119 3RD ST $350,000 $429,900 3 1,204 CONDO 187
5299 LAKEVIEW BLVD $365,000 $399,900 4 2,165 DETACHD 594
2440 OVERLOOK DR $480,000 $525,000 4 3,874 DETACHD 36
815 COUNTRY COMMONS LN $494,500 $595,000 4 2,376 DETACHD 83
3115 ROSEMARY LN $513,000 $599,900 3 3,324 DETACHD 244
17388 CEDAR RD $575,000 $875,000 2 2,134 DETACHD 402
18125 WESTMINSTER DR $658,000 699888 5 3,969 DETACHD 344
356 9TH ST $1,070,000 $1,275,000 4 3,647 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.

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Take good care of your credit

I suppose it is somewhat of a no-brainer that as a consumer you need to take good care of your credit, but if you are considering buying real estate, it is more important than ever. The days that qualified you to buy a home by merely having a pulse are long gone. Credit is more important than ever.

What is a FICO Score?
The FICO score was developed by The Fair Isaac Corporation in 1958. It is a statistical analysis of the likelihood of default. It has long been considered the most fair means of analyzing credit because it is purely about statistics with no consideration given for any personal matters such as sex, race, religion, etc. Mortgage lenders reliance on FICO Scores has gained in prominence and only looks to increase.

A FICO Score can be anywhere from 300-850. It is made up of the following considerations:
35% is payment history: do you pay your bills on time?
30% is ratio of available credit used: do you max out your credit cards?
15% is length of credit history.
10% is types of credit (having a variety of credit is good)
10% is recent credit inquiries

So it is more than simply paying your bills on time. If you want an 850 credit score, you certainly need to pay your bills on time, but you also need a variety of credit, not too much of it, that has low balances, that you have managed for years, and that you have not recently applied for. I have heard it said that the magic number of credit cards is 4, most with little or no balances. You do need to be using the credit. If you have 4 credit cards that you never use, it is not going to help you.

By law you are entitled to a free annual credit report. You can obtain one from each of the 3 credit bureaus by visiting AnnualCreditReport.com Because there are 3 credit bureaus, each with their own means of analysis, you will want to obtain copies of all 3 reports. If you see something strange on the report, you will also find links to managing your credit and fixing your credit.

Why FICO matters when you buy a house.
First, having a high credit score will allow you to obtain a lower interest rate on your mortgage. On a 30-year fixed mortgage of $300,000, a person with a FICO score of 760-850 will be able to obtain an interest rate of about 4.567% and that will make the payment $1532 per month. With a credit score of 620-639, that same 30-year mortgage would have an interest rate of 6.156% and a monthly payment of $1829 per month. That is a difference of $300! Yes, you will be rewarded for being financially strong.

Second, your credit is going to be checked more then once when you buy a house. According to a recent article by Kenneth Harney of the Washington Post, on June 1st,Fannie Mae will be requiring a second credit report be pulled just prior to close of escrow. This is to find out if anything has changed with the buyer’s credit since the loan was approved. If it has changed, then, poof, you could be kicked right out of closing and not be able to buy the house you want. This means that once you find a home and get your offer accepted, do not do anything to change your credit. Even making an inquiry for new credit could create disaster. Suppose you go to a furniture store and apply for a line of credit because you are dreaming of furnishing your new home? You don’t even have to make a purchase. Just having the extra credit available could affect your credit. While in escrow, make all payments on time, but make no credit applications, no purchases on credit, and no changes, no matter how small, to your credit situation. This is much more strict than I have ever seen. It is real. I had a closing postponed for 3 weeks while the buyer made a $500 payment on his credit card and we waited for the payment to be reflected in his FICO score with the 3 credit bureaus. I am also aware of 1 late payment on a credit card while in escrow that completely kicked the loan out of underwriting and the transaction sale failed.

Please let me know if you have any questions on this issue or if you need any help. I work with a couple of excellent lenders who are happy to take the time to help you build and repair your credit so that you can qualify for the house of your dreams.

Dianne

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Lake Oswego Open Houses ~ Sunday, June 13, 2010

Enjoy this gorgeous Rose Festival Weekend, and add Home Shopping to your agenda with 33 properties open for your viewing pleasure on Sunday.

Here are the Open Houses according to RMLS:

Address L/Price # Beds # Baths Total SF Prop Type Time
1684 BOCA RATAN DR $248,900 3 2 1611 TWNHSE 1-3PM
19167 LONGFELLOW AVE $269,000 3 2.1 1782 DETACHD 1-6PM
16711 MELLON AVE $309,900 3 2 1346 DETACHD 1-3PM
18238 TERRY AVE $350,000 3 2.1 1604 DETACHD 12-2PM
5160 TUALATA LN $354,900 3 2 1470 DETACHD 1:30-4PM
5160 TUALATA LN $354,900 3 2 1470 DETACHD 1:30-4PM
5324 LOWER DR $370,000 3 2.1 2034 DETACHD 12-2PM
19026 INDIAN SPRINGS RD $385,000 5 3 2471 DETACHD 10AM-2PM
5827 BONITA RD $399,900 3 2 1771 DETACHD 2-4PM
5364 ROSEWOOD ST $401,500 4 2.1 1980 DETACHD 1-3PM
17460 SCHALIT WAY $418,900 4 3 2197 DETACHD 1-4PM
2697 LOOKOUT CT $429,000 3 2 2219 DETACHD 10-11:30AM
662 CLARA CT $429,900 3 3 2740 DETACHD 4-6PM
1462 GREENTREE CIR $435,000 4 2.1 2507 DETACHD 1-4PM
1970 GREENTREE RD $450,000 4 3 2428 DETACHD 1-4PM
2705 ORCHARD HILL LN $469,900 4 2.1 2841 DETACHD 1-4PM
17640 TREETOP WAY $498,900 4 3 2718 DETACHD 2:30-4PM
5008 HAMPTON CT $529,000 3 2.1 2346 DETACHD 12-2PM
19415 SW DOGWOOD CT $539,900 5 3 3517 DETACHD 12-5PM
19451 SW DOGWOOD CT $559,900 6 3 3547 DETACHD 12-5PM
33 MORNINGVIEW CIR $574,900 3 2.1 2737 DETACHD 2-4PM
4070 VIRGINIA WAY $725,000 3 2.1 3510 DETACHD 1-3PM
5 CELLINI CT $735,000 5 3.1 4895 DETACHD 1-3PM
1930 INDIAN TRL $829,500 3 3 3260 DETACHD 1-3PM
3030 WESTVIEW CT $844,500 4 2.1 3415 DETACHD 11-1PM
18209 SIENA DR $1,178,950 5 3.1 3839 DETACHD 12-2PM
18143 SIENA DR $1,197,000 5 4.1 4152 DETACHD 21-2PM
1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 21-2PM
2569 GLEN EAGLES PL $1,349,000 5 4.2 4591 DETACHD 1-4PM
4700 SW DOGWOOD DR $1,499,900 5 3.1 5401 DETACHD 2:30-4PM
1790 Skyland DR $1,599,000 5 4.1 6033 DETACHD 1-3PM
14242 BRIDGE CT $1,999,950 5 4.2 6139 DETACHD 2-4PM
2572 GLEN EAGLES PL $2,285,000 5 4.2 6490 DETACHD 1-3PM
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News & Notes

Real Estate News ~

Have a wood stove?  Planning to buy or sell a home with one? Note that beginning August 1st, 2010, in an effort to control emissions from smoke, when selling a home you will be required to remove the wood stove if it is “uncertified” by the DEQ.  Here is a link for more information: Woodstoves in Oregon

Greece and Mortgage Rates – MBS Quoteline reports: ” Despite stronger than expected economic data, the financial situation in Greece held the greatest influence on mortgage rates this week. A flight to quality and prospects of slower economic growth in Europe were favorable for mortgage markets and negative for the stock market, and mortgage rates ended the week lower.”

Current Mortgage Rates and Mortgage Insurance Updates – According to Pat Goodell of Academy Mortgage:

  • “Some of the Mortgage Insurance companies have gone to tiered pricing based on credit scores which is good news to those with good credit scores.  Mortgage insurance companies also will now allow “up front mortgage insurance” (in lieu of monthly mortgage insurance) to be paid by the seller.  The potential advantage of this is that the seller can pay the up front mortgage insurance as part of any allowable closing costs that a buyer might negotiate for a seller to pay.  Then the buyer has no mortgage insurance premium to pay as part of their mortgage – this may or may not be an advantage to the buyer depending on their situation; but it does help for qualifying by reducing their monthly mortgage payment.  There are qualifying parameters for this option and the lender also has to approve this option as well.”
  • “Interest rates are holding steady now with the 30-yr fixed still hovering around 5% — 30-yr fixed today is actually available at 4.875% with 0 pts, depending on the buyer’s qualifications.”

    • Community Notes ~

    Farmers Market opens this Saturday, May 15th in Lake Oswego. (yay!)  This is the 10th Anniversary Celebration.  You can find the food  & fun at Millennium Plaza Park from 8:30AM – 1:30PM on Saturdays through October 9th.   Local musical group, Southern Nights, will perform from 10:30AM till 12:30PM at the kickoff, and the Bike Gallery will be there to check your kids’ helmets!

    May is Sustainability Action Month. Take advantage of these local events:

    • Free screening of the film Deep Green with local film-maker Matt Briggs. This is an insightful look at “uncovering the best people with the best solutions for “de-carbonizing energy and restoring the natural world.” It will be held Saturday evening, May 15th at 7:30Pm at the Lake Grove Presbyterian Church, 4040 Sunset Drive.  Bring your family and friends!
    • Get a good look at Lake Oswego’s Century Trees on the Century Tree Bike Ride, May 22nd.  The bike ride is hosted by the Planning Dept.’s Green Team, and more information can be had by contacting Laura Weigel at Lweigel@ci.oswego.or.us .

    Lake Oswego’s city council created the Sustainability Action Board (SAB) in 2008. For more information on sustainability, visit: The Sustainability Resource Page

    To Move or Not To Move / Lifestyle Options for Older Adults , an educational program for seniors and their families is designed to give information on housing options and resources in Lake Oswego.  You are invited to attend on May 16th, from 2:00PM to 5:00Pm at the Lake Oswego Adult Community Center, 505 G Avenue.

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    Open Houses on Mother’s Day, 5/9/2010

    There are just 8 houses being promoted to be held open this Sunday, a reflection that many are celebrating the day with family. If you are able to get out, please take the time to go and see these great houses:

    Address List Price Year Built SF Up+Mn Prop Type BR/BTH Open
    116 TOUCHSTONE TER $310,000 1972 1,058 ATTACHD 3/2.5 1 to 3
    19242 TERRY AVE $370,000 1965 936 DETACHD 4/2.0 2 to 4
    9 WESTMINSTER DR $535,000 1976 3,042 DETACHD 4/ 2.5.5.5 2 to 4
    339 6TH ST $575,000 2010 1,506 ATTACHD 4/ 3.5 1 to 4
    92 GARIBALDI ST $699,000 1991 2,584 DETACHD 4/3.5 12 to 3
    16827 SCOTT CT $910,000 1993 3,952 DETACHD 4/3.5 1 to 3
    16805 SCOTT CT $1,190,000 1992 4,321 DETACHD 4/3.5 2 to 4
    18820 GREENBLUFF DR $1,395,000 2000 4,656 DETACHD 4/4.5 12 to 3
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    Lake Oswego Open Houses ~ May 2, 2010

    There are 17 homes opening their doors this Sunday in Lake Oswego.  No condos this time.  Two Advanced Real Estate Townhomes on 6th Avenue though (these are absolutely gorgeous high-end homes at amazing prices with no HOA fees… definitely worth a look).  Here are the properties to be held open according to RMLS:

    Address L/Price # Beds # Baths Total SF Prop Type Open
    18238 TERRY AVE $375,000 3 2.1 1604 DETACHD 12-2PM
    19242 TERRY AVE $395,000 4 2 1872 DETACHD 2-4PM
    32 CHURCHILL DOWNS $448,250 4 2.1 3016 DETACHD 2-4PM
    12409 SHELBY CT $449,900 3 2 2238 DETACHD 1-3PM
    4859 SAGE HEN WAY $459,000 4 3 2417 DETACHD 1-4PM
    73 TANGLEWOOD DR $499,500 4 3.1 4254 DETACHD 12-2PM
    17640 TREETOP WAY $524,995 4 3 2718 DETACHD 2:15-4:15PM
    33 MORNINGVIEW CIR $574,900 3 2.1 2737 DETACHD 2-4PM
    363 6TH ST $575,000 3 3.1 2258 TWNHME 1-4PM
    339 6TH ST $575,000 3 3.1 2258 TWNHME 1-4PM
    220 GREENWOOD RD $599,900 4 4 2639 DETACHD 2-4PM
    2475 MARYLVIEW CT $612,000 4 2.1 3049 DETACHD 1-3PM
    1015 SOUTHSHORE BLVD $773,000 4 3 3542 DETACHD 10:30AM-12PM
    18209 SIENA DR $1,178,950 5 3.1 3839 DETACHD 1-3PM
    1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 1-3PM
    18246 BELLA TERRA DR $1,294,000 4 3.1 4196 DETACHD 1-3PM
    18820 GREENBLUFF DR $1,495,000 4 4.1 5382 DETACHD 12-3PM
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    News & Notes

    Real Estate News ~

    House Set to Extend Rural Home Loan Guarantee Program – A unanimous vote by the House Financial Services Committee will send the Rural Housing and Stabilization Act of 2010 to the full House of Representatives where it is said that it has been fast tracked for a vote as early as next week.  Passing HR5017 will continue the availability of government guaranteed mortgages for rural home-buyers.  If passed it will correct section 502 of the Single family Housing Guaranteed Loan Program to make it self-funding. Section 502 assists home-buyers living in rural areas to obtain affordable mortgages guaranteed by USDA.  There has been great concern of late at announcements that there were no more funds for this program, so this is a welcome announcement for many. You must qualify credit-wise of course, and have reliable and adequate income.  The average guarantee in 2009 was for $112,000.

    Lock Box Activity – According to RMLS, when comparing the week of April 5th through April 11th with the week prior, the number of times a lock box was opened increased 33% in Washington and 26.6% in Oregon.  Spring is in the air!

    Community ~

    Shred Day! Bring your shred-able items in to the West End Building on May 1st & protect your identity while you recycle. Credit Cards, staples, paper clips and rubber bands are all said to be acceptable.  Up to three boxes per person will be accepted, and all are encouraged to bring cans of food to support the Oregon Food Bank.  10:00 AM till 1:00 PM or until the truck is full!

    I LOVE LOPR  Video Challenge – Lake Oswego Parks & Recreation is asking all those who love our parks to grab a camera and illustrate why!  Take a photo of your favorite event, your favorite park, your favorite park activity… the list is endless.  Details can be found HERE The list of prizes and sponsors is growing.  Sign up for the challenge, OR sign up to be a sponsor.

    Child Safety Seat Clinic – Come & make sure you know how to install your child’s safety seat property. This clinic will take place May 1st from 10:00 AM till 2:00 PM at 300 B Avenue/The Main Fire Station.  Each seat takes about 30 minutes to check.  Come and spend some time building peace of mind.

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    Lake Oswego Real Estate: Market Activity April 19-25, 2010

    Lake Oswego market activity for last week brought us 22 new listings, 21 pending sales, and 8 closed sales. Here is your weekly update (see below the tables for additional notes):

    NEWLY LISTED (April 19—April 25, 2010)

    Address List Price # BR # BTHS Total SF Prop Type List Date
    47 EAGLE CREST DR $110,000 2 2 932 CONDO 4/25/2010
    115 OSWEGO SMT $170,000 2 2 1,212 CONDO 4/21/2010
    218 RIDGEWAY RD $200,000 2 1 914 CONDO 4/23/2010
    3892 BOTTICELLI ST $239,900 3 2 1,288 CONDO 4/22/2010
    4490 LAKEVIEW BLVD $325,000 3 2 1,727 DETACHD 4/21/2010
    4841 SE DAWN AVE $335,000 3 0.2 1,550 DETACHD 4/22/2010
    15144 BOONES WAY $369,000 4 3.1 2,194 DETACHD 4/21/2010
    5376 ROSEWOOD ST $394,900 3 2.1 2,457 ATTACHD 4/20/2010
    12409 SHELBY CT 449900 3 2 2,238 DETACHD 4/20/2010
    4859 SAGE HEN WAY 459000 4 3 2,417 DETACHD 4/21/2010
    17640 TREETOP WAY 524995 4 3 2,692 DETACHD 4/22/2010
    3718 LAKE GROVE AVE 549000 4 3 2,523 DETACHD 4/19/2010
    4080 Coltsfoot 569950 4 2.1 2,884 DETACHD 4/19/2010
    5774 BAY POINT DR 625000 5 2.1 3,674 DETACHD 4/23/2010
    133 FURNACE ST 629000 2 2.1 1,927 CONDO 4/23/2010
    17754 TREETOP LN 649000 5 3.1 3,668 DETACHD 4/20/2010
    14120 REDWOOD CT 669000 4 2.1 2,755 DETACHD 4/19/2010
    16461 CHAPIN WAY 799900 4 2.1 4,271 DETACHD 4/24/2010
    4288 LAKEVIEW BLVD 950000 3 2 2,141 DETACHD 4/22/2010
    17951 MEADOWLARK LN 1295000 4 3.2 5,065 DETACHD 4/20/2010
    1972 CHERYL CT 2590000 5 4.1 6,952 DETACHD 4/22/2010
    1617 LAKE FRONT RD 3950000 4 4.1 4,610 DETACHD 4/25/2010

    PENDING SALES (April 19 – April 25, 2010)

    Address List Price # BR # BTHS Total SF Prop Type CDOM
    4000 CARMAN DR $142,000 2 2 973 CONDO 58
    109 OSWEGO SMT $144,900 2 2 1,212 CONDO 36
    1597 BONNIEBRAE DR $199,900 2 1 998 ATTACHD 46
    200 BURNHAM RD $268,000 2 2 1,328 CONDO 942
    55 NORTHSHORE RD $275,000 1 1 1,478 CONDO 735
    5756 KENNY ST $325,000 3 2.1 1,542 DETACHD 56
    627 1ST ST $339,500 2 2 2,090 DETACHD 145
    31 DA VINCI ST $362,500 4 2.1 2,232 DETACHD 249
    25 CHURCHILL DOWNS 385000 4 3 2,195 DETACHD 0
    16200 PACIFIC HWY 388900 2 2 1,208 CONDO 802
    3075 ROYCE WAY 395000 4 3.1 3,667 DETACHD 156
    827 5TH ST 425000 3 2 2,124 DETACHD 86
    1400 LEE ST 427500 4 3 2,804 DETACHD 117
    17622 BROOKHURST DR 493000 3 2.1 2,909 DETACHD 42
    2650 LOOKOUT CT 495000 4 3.1 3,480 DETACHD 8
    5711 SOUTHWOOD DR 539000 4 3 2,655 DETACHD 6
    1545 CLOVERLEAF RD 579950 4 3.1 2,723 DETACHD 59
    2109 WEMBLEY PARK RD 649900 5 3 3,129 DETACHD 2
    18125 WESTMINSTER DR 699888 5 3.1 3,969 DETACHD 244
    4211 CHAD DR 874900 5 3.1 3,937 DETACHD 268
    3114 DOUGLAS CIR 1395000 4 4 5,420 DETACHD 528

    SOLD (April 19- April 25, 2010)

    Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
    852 5TH ST $199,000 $205,000 2 1 738 DETACHD 131
    28 WHEATHERSTONE $230,000 $219,500 3 2.1 1,692 CONDO 145
    16890 CORTEZ CT $324,900 $274,900 4 3 2,016 DETACHD 104
    1565 BEDFORD CT $429,000 $311,000 3 2 1,978 DETACHD 251
    14300 SHERBROOK PL $334,500 $334,500 3 2.1 1,924 DETACHD 141
    15921 KIMBALL AVE $389,900 $390,000 3 2 2,309 DETACHD 3
    1414 GREENTREE CIR $499,000 $435,000 4 2.1 2,330 DETACHD 37
    2688 RIVENDELL RD $835,000 $680,617 4 3 3,720 DETACHD 405

    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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    Double-bottom-line Thinking

    I have had an idea swirling around in my head for a few weeks now. It comes from my personal experience with clients as they interact with the current economy and the housing market. This idea really jelled in my thinking when I read Ted Leonsis’ article in the April 12th issue of Newsweek.

    My observation with clients, both buyers and sellers, is that there is a tremendous amount of attention and focus put onto the dollars involved in buying and selling. This is nothing new. Real estate is, for most people, the largest financial investment they will make in their entire lifetime. So what is different is that the weight being put onto the investment is in many cases causing people to forget that real estate is also about a home. Yes, I am addressing this to houses that people live in and not to rentals or portfolio properties. What I am seeing is that people are so driven to get the right deal, that they are passing up properties that are far superior in amenities.

    Ted Leonsis is a former vice chairman of AOL and the author of a book, The Business of Happiness. His theory is that a company who wants financial success needs to not only think in terms of making money, but also in terms of doing what is often difficult but what is ultimately the right thing to do. This in turn keeps the company on a path of happiness that will ultimately also bring greater financial success. In other words, there is a link between pursuing happiness and also finding financial success. His case in point is the recent move by Google to route Web users from China to an unrestricted search page based out of Hong Kong. While this move may, in the short term, stifle the financial growth of Google in the biggest Internet market in the world, Leonsis believes that in the long term it will have greater financial success by placing its core values to do the right thing for humanity ahead of it’s short-term interest in its bottom line.

    “Google aims to make money, of course, but it also has a motto (“Don’t be evil”) and a higher calling: to organize the world’s information and make it universally accessible. By refusing to participate in Chinese censorship, the company imperiled billions of dollars in future profit. More important, it protected its status as a happy company at peace with its values—and happy companies are more, not less, likely to continue being successful.”

    Ted Leonsis goes on to call this way of looking at business double-bottom-line thinking. In other words, success should be measured by the financial growth of the investment, but also by the positive out come for the happiness of human beings.

    It is probably my liberal arts education coming out here, but I find this to be really important. As a Realtor, when I represent buyers my job it to get them the best possible deal. When I represent sellers, by job is to get them the highest possible sales price. I never loose focus on that. But it is hard when I have a buyer who is saying to me “show me foreclosures and short sales because I’ve heard that they are the best deal”. Or when a seller passes up a lower offer that is all cash for a higher offer with a buyer who is only putting down 5%. Focusing strictly on money may cause you to pass up the house that was lovingly cared for and is priced $10,000 higher than the beaten up foreclosure down the street. And in this lending environment, cash buyers are a real blessing.

    I guess I think that there is value that needs to be also given to things like timing (short sales take months to close, if they happen at all), good will (they buyer will take the house with the big pile of yard debris in the yard because it doesn’t bother them to have to clean it up), and livability (the big kitchen is ideally designed with loads of cabinets and counter space). For some reason this economy and this real estate market has got both buyers and sellers fixated on money, money, money. And that has them acting blindly to happiness. I thinking buying the right house, where you will live and grow, is just as important as buying the right deal.

    The perfect sale does both: the house will be bought or sold at the right deal and it will also be more than a house, it will be a home. That is double-bottom-line thinking and that is a good way to approach both a property purchase and a property sale.

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    Lake Oswego Open Houses ~ Sunday, April 18, 2010

    OK… did I hear that it’s supposed to be 70 degrees Sunday??? If you are in the market for a home in Lake Oswego, I can’t imagine that this stellar line-up of 34 homes and the blue skies would not be enough to entice you away from brunch… or yard work… or sleeping in : )

    Here are the homes held Open according to RMLS.  As always, enjoy!

    Address L/Price # Beds # Baths Total SF Style Time
    1597 BONNIEBRAE DR $199,900 2 1 998 CONDO 1-3PM
    4340 BOTTICELLI ST $239,900 3 3.1 2098 TWNHSE 1-3PM
    16711 MELLON AVE $309,900 3 2 1346 DETACHD 1-4PM
    16969 ALDER CIR $329,900 3 2 1534 DETACHD 1-3PM
    3269 PHYLLIS CT $339,900 3 1.2 1711 DETACHD 1-4PM
    4971 SUNTREE LN $394,900 3 2.1 1911 DETACHD 1-4PM
    19242 TERRY AVE $395,000 4 2 1872 DETACHD 2-4PM
    550 2ND ST $410,000 2 1.2 1520 TWNHSE 1-4PM
    1642 HIGHLAND DR $449,000 4 3 2234 DETACHD 1-4PM
    24 PARTRIDGE LN $449,000 4 2.1 3224 DETACHD 1-3PM
    662 CLARA CT $469,900 3 3 2740 DETACHD 3-5PM
    17802 HILLSIDE WAY $489,998 4 2.1 2965 DETACHD 1-3PM
    1503 PINE ST $509,000 5 3 2792 DETACHD 2:30-5PM
    19735 SUNCREST DR $544,950 4 3.1 3224 DETACHD 2-4PM
    12 MONTICELLO DR $549,000 4 2.1 3658 DETACHD 11-2PM
    19415 SW DOGWOOD CT $549,900 5 3 3517 DETACHD 10AM-5PM
    19288 SW Megly CT $579,900 5 3 3594 DETACHD 10AM-5PM
    17491 BLUE HERON DR $639,950 4 2 2396 DETACHD 1-3PM
    4184 SUNSET DR $649,000 6 3 2916 DETACHD 2-4PM
    19244 35TH PL $729,000 4 3 3503 DETACHD 12-2:30PM
    1015 SOUTHSHORE BLVD $773,000 4 3 3542 DETACHD 11-2PM
    14480 KRUSE OAKS BLVD $895,000 4 3.1 4661 DETACHD 10-2PM
    12439 SW 22ND AVE $899,900 4 3.1 4118 DETACHD 2-4PM
    17896 KELOK RD $948,500 5 5 4323 DETACHD 2:15-4PM
    18222 SIENA DR $1,088,000 6 4.1 3800 DETACHD 1-3PM
    18209 SIENA DR $1,178,950 5 3.1 3839 DETACHD 1-3PM
    17464 RIDGEVIEW LN $1,199,950 4 3.1 4407 DETACHD 1-3PM
    1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 1-3PM
    18246 BELLA TERRA DR $1,294,000 4 3.1 4196 DETACHD 1-3PM
    657 OAK MEADOW DR $1,349,950 4 3.1 4371 DETACHD 1-3PM
    3114 DOUGLAS CIR $1,395,000 4 4 5420 DETACHD 12-4PM
    17364 RIDGEVIEW CT $1,399,950 4 3.1 4436 DETACHD 1-3PM
    18820 GREENBLUFF DR $1,495,000 4 4.1 5382 DETACHD 2-4PM
    2572 GLEN EAGLES PL $2,395,000 5 4.2 6490 DETACHD 1-3PM