Tag: new listings

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News & Notes

A few tips from Linda:

* Be cautious when looking into a “Lease Option” opportunity if one presents itself. For the Seller, it most always means that the bank can, at any time, call for all monies owing from you on the property per your mortgage’s “Due On Sale” clause, as you are technically transferring a form of ownership in an Option. I.e., you could be called upon to pay in full. Contrary to popular belief, setting up a Trust does not get you around the Due On Sale clause either. Best to consult with your Realtor, and/or attorney before embarking on an adventure like this : )
* Remember that all repairs agreed to in a transaction in the State of Oregon must be performed by a licensed, bonded contractor.
* Make sure to give your Lender plenty of time to “close” your transaction when writing your offer. Talk to your Realtor, and make sure to consult with your Lender to see about how long they need. Lately it is typically around 45 days, but each situation is different. Should you not meet your “on or before” closing date as per your Offer contract, the Seller could possibly accept another offer and keep your earnest money… just sayin’ : ) Now, most people will compromise and agree to an addendum extending the closing date, but you cannot guarantee that the Seller will agree to that… If they have, let’s say, received a better verbal offer than yours during the time it has taken to get from agreement to “not meeting” the closing date, they may just decide to opt to take that larger offer. Just a note of caution.

Let’s take a look at the recently released data on real estate for 2012.
Below is some information for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:

According to the RMLS Market Action Report for the Portland Metro Area December, 2012. At 1,760, closed sales were 9.2% higher than December 2011 sales of 1,612. pending sales (or “Accepted Offers”) were down, however, with 1443 in December of 2011, and 1384 in December 2012… putting the market down by 4.1%.

  • 2012 racked up 32,300 new listings, 24,010 accepted offers, and 23,438 closed sales.
  • Compared to 2011, new listings are down 5.2%, pending sales are up by 16.2% overall, and closed sales are up 19.1%.
  • The average sale price in 2012 was $275,000, which is 4.4% higher than 2011’s $263,300.
  • ***AND… Total time on the market has dropped by 21.5% from 143 to 112 days.
  • The overall economic improvement and increase in volume has positively affected the numbers for total dollar volume which rose to $6.45 billion in 2012 from 2011’s $5.2 billion.
  • For our Property Blotter readers, the combined area of Lake Oswego and West Linn reported the following totals for 2012:
    • 2085 New Listings (68 in Dec’12)
    • 1389 Pending Sales (81 in Dec’12)
    • 1364 Closed Sales (108 in Dec’12)
    • An Average Sale Price of $434,800. ($512,100 in Dec’12!!)
    • Prices rose 1.5% in 2012 over 2011’s totals
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Market Activity Jan 7-13, 2013

As much as I love the holidays, I also love getting back at it with the new year. Yep, my phone is ringing!

Lake Oswego there were 7 new listings, 15 pending sales, and 8 closed sales.

Here are further details on last week’s Market Activity:

NEWLY LISTED (Jan 7-13, 2013)

Address Type Price BR Bths SF
66 Oswego Summit Condo $74,900 1 1 764
668 McVey Ave #35 Condo $156,500 1 1 656
980 C Ave Detached $415,000 3 2 1312
607 Ash St Detached $550,000 3 2.5 2200
4033 Westbay Rd Detached $1,195,000 4 3.5 3691
13400 Fielding Detached $1,600,000 3 1.5 3189
448 Country Club Rd Detached $1,795,000 4 3.5 4873

PENDING SALES (Jan 7-13, 2013 2012)

Address Type Price BR Baths SF DOM
55 Oswego Summit Condo $64,000 1 1 721 246
620 Middlecrest Rd Detached $249,000 2 1 884 20
5099 Galen St Detached $249,000 4 2.5 2246 109
232 Greenridge Dr Attached $257,000 3 2 1492 125
16909 Tracy Ave Detached $279,950 4 2 1499 88
6438 Frost St Detached $319,900 3 2.5 2205 3
3545 Upper Dr Detached $334,000 3 2 1350 101
1572 Highland Dr Detached $334,500 3 2 1950 6
18275 Pilkington Rd Detached $349,423 3 2 2088 9
5675 Childs Rd Detached $369,900 2 2.5 1644 87
2390 Greentree Rd Detached $429,000 3 2.5 2380 6
1231 Bayberry Rd Detached $439,000 3 2 1980 17
17702 Overlook Circle Detached $465,900 5 2.5 3490 32
539 2nd St #108 Condo $469,000 2 2 1339 27
18175 Pilkington Rd Detached $574,900 4 3.5 3164 13

SOLD (Jan 7-13, 2013)

Address Type List Price Closed Price Sq Ft CDOM
34 Cervantes Cir 4-F Condo $119,500 $110,000 912 21
5225 Jean Rd #314 Attached $159,900 $155,000 1500 139
44 Greenridge Ct Attached $209,900 $194,000 1996 407
668 McVey #72 Condo $279,500 $250,000 1184 76
18892 Indian Springs Cir Detached $329,000 $278,250 1611 129
17970 Saint Clair Dr Detached $467,950 $460,000 2,549 157
1 Dover Way Detached $799,000 $775,000 3559 32
8 Dover Way Detached $975,000 $950,000 6244 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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Market Activity~Dec 31, 2012-Jan 6, 2013

Happy New Year!
Activity is good with 7 New on the market, 8 Pending and 8 Sold during the last 7-day period in Lake Oswego.
You will notice, if you search for yourself, quite a few more that appear to be “New” on the market, but these are “refreshed” listings. Dianne and I like to present just the actually “New” properties coming on the market as reflected for you below.

Here are further details on last week’s Market Activity:

NEWLY LISTED (Dec 31, 2012-Jan 6, 2013)

Address List Price # Beds # Baths Total SF Prop Type
86 KINGSGATE RD E201 $96,300.00 2 2 938 CONDO
47 EAGLE CREST DR #42 $104,500.00 2 1 932 CONDO
18275 PILKINGTON RD $329,423.00 3 2 2088 DETACHD
1572 HIGHLAND DR $334,500.00 3 2 1950 DETACHD
2390 GREENTREE RD $429,000.00 3 2.1 2380 DETACHD
19310 RIVERWOOD LN Lt 9W $639,900.00 5 4 3110 DETACHD
1972 CHERYL CT $1,999,999.00 5 4.1 6952 DETACHD

PENDING SALES (Dec 31, 2012-Jan 6, 2013 2012)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4000 CARMAN DR #21 $94,500.00 2 2 885 CONDO 72
47 EAGLE CREST DR #C31 $99,000.00 2 1 1009 CONDO 88
5195 FIRWOOD RD $196,000.00 3 2 1886 DETACHD 246
4231 WOODSIDE CIR $267,500.00 3 2 1943 ATTACHD 174
6474 FROST ST $304,900.00 4 2.1 2216 DETACHD 110
6450 FROST ST $314,900.00 4 2.1 2216 DETACHD 111
4231 SUNSET DR $369,900.00 3 2 2229 DETACHD 122
17002 CRESTVIEW DR $395,000.00 3 2.1 2163 DETACHD 34

SOLD (Dec 31, 2012-Jan 6, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
6207 HARRINGTON AVE $199,900.00 $211,000.00 3 1 960 DETACHD 3
18807 SW KRISTI WAY $269,900.00 $248,000.00 3 1.1 1256 DETACHD 6
18444 TUALATA AVE $299,000.00 $252,000.00 3 2 1192 DETACHD 206
1180 HALLINAN CIR $325,000.00 $300,000.00 3 2 1590 DETACHD 0
5682 CHARLES CIR $549,000.00 $529,000.00 4 2.1 3052 DETACHD 119
5047 WOODCREST LN 7east $679,336.00 $698,690.00 4 3.1 3602 DETACHD 0
1655 EDGECLIFF TER $1,175,000.00 $1,125,000.00 4 3.1 3416 DETACHD 182
18402 OLD RIVER LNDG $1,695,000.00 $1,451,250.00 4 4.1 4547 DETACHD 504

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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Open Houses ~ Jan 6, 2013

Enjoy these 10 Open Houses in Lake Oswego Sunday!

Address L/Price # Beds # Baths Total SF Time
16909 TRACY AVE $279,950 4 2 1499 12-3PM
4263 HARVEY WAY $349,000 3 2 1640 1-3PM
15655 FIELDSTONE DR $589,500 4 2.1 2750 1-3PM
5533 FIELDSTONE CT $599,500 4 2.1 3115 1-3PM
13282 BOONES FERRY LN $599,900 4 2.1 3267 1-3PM
18096 Pilkington RD $599,900 3 2.1 3182 1-3PM
1579 BAY VIEW LN $675,000 4 3 4665 1-3PM
329 10TH ST $949,980 4 2.1 3647 1-3PM
310 IRON MOUNTAIN BLVD $1,100,000 4 2.1 3503 1-3PM
1677 LESLIE LN $1,840,000 4 6.1 7534 1-3PM
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A New Year!

Oswego-LakeGreetings to all of our loyal and new Property Blotter readers!

As we enter our 5th year of publishing this insiders’ look at the Lake Oswego community and Real Estate scenes, we want to take a moment to thank you so much for your interest and patronage through the years! Dianne and I are as committed as ever to bringing you the micro-focused real estate information you count on, and also the perspective of Lake Oswego as part of the larger Portland Metro Area from time to time. Context is good… at least we think so : )

We both specialize in Lake Oswego property, considering the time we’ve spent living and working here, and we both also have been working all over the Greater Portland Area for many, many years, so please remember us if you know someone who needs a really experienced and reliable Realtor for any property “selling or buying adventure” in this larger geographic area!

Though our lives have changed through the years, the Property Blotter has remained constant, and we hope that you enjoy it as much as we do. Recently we have made one BIG change, and that is that we are now working with Oregon First Real Estate Company!  A change like this is the kind of thing that only occurs once in a very great while, and while we have been very pleased with our previous affiliation and will miss those with whom we’ve worked closely for some time, we are thrilled to be joining this vibrant, established local company with offices all over the Portland area and Vancouver!

Just for fun, I’ve pasted below our very first post from 2008, and after reading it, am feeling both nostalgic, and satisfied with the work we’ve committed ourselves to, and all we’ve accomplished with so many of you.

Happy New Year to each of you…. We toast YOU in 2013!

Welcome to the premier edition of the Property Blotter!

This blog is intended to be a fun and useful forum pertaining to real estate issues in the City of Lake Oswego. It will bring you information that directly reflects current market conditions.

It will also provide you with history of the area and insights into Lake Oswego’s vibrant community. You will find plenty of statistics and details about houses currently for sale and recently sold. You will also find neighborhood profiles and featured homes. And, yes, you’ll get commentary on local events and neighborhood happenings.

What you will not find is endless self-promotion and unneeded advertising. This is going to be a place to learn about Lake Oswego real estate and not a place that will waste your time. We don’t care for that sort of thing any more than you do.

And just who are we and why do we have any right to be doing this? We are Realtors who have each lived in Lake Oswego for some time and have been directly a part of this community. Between us we have 30 years of experience selling real estate in this fine community. Between us we have lived in Lake Oswego for 20 years. Our children have attended school here. We participated in sports here. We volunteered with local non-profits here. We know this town.

Lake Oswego is an amazing place to live. It is also seriously misunderstood. Yes, there are million-dollar homes in Lake Oswego. But more than money, Lake Oswego is a town that has people who care. It has always had great schools and so attracts families looking for excellent public schools. There are modest homes as well as lakeside estates.

If we are doing our job right, you’ll come away from this blog feeling like you know a bit more about what prices of homes are like, what is going on with local businesses, and what it is about LO that makes it a great place to live and to work. If you currently live here, you’ll know more about what your home may be worth. If you are thinking about moving here, you’ll know more about what to expect when you buy a home and what this community is like as a place to live.

So come along with us on this “blog-mobile”. It is going to be a great journey.

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Market Activity Dec 24-30, 2012

Market Activity for last week brought just 1 new listing, 3 pending sales, and 7 closed sales. Expect the real estate market to start picking up as we move into the New Year.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Dec 24-30, 2012)

Address Type Price BR Bths SF
115 Touchstone Ter Attached $355,000 3 3.5 2884

PENDING SALES (Dec 24-30,2012 2012)

Address Type Price BR Baths SF DOM
5059 Foothills Dr F Condo $165,000 2 2 997 31
44 Greenridge Ct Attached $199,900 3 2.5 1996 407
5880 Rockwood Ct Detached $275,000 3 2 1772 260

SOLD (Dec 24-30,2012)

Address Type List Price Closed Price Sq Ft CDOM
39 Crestfield Ct Condo $49,900 $52,000 689 119
668 McVey Ave #75 Condo $214,000 $135,000 626 402
4270 Oakridge Rd Detached $275,000 $267,500 978 143
232 6th St Detached $335,000 $335,000 1389 0
18238 Terry Ave Detached $359,000 $340,000 1570 43
14062 Goodall Rd Detached $1,499,000 $1,400,000 6,074 39
2700 Summit Dr Detached $1,800,000 $1,753,875 4472 0

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

NEWLY LISTED (Dec 17-23, 2012)

Address List Price # Beds # Baths Total SF Prop Type
620 MIDDLECREST RD $249,000 2 1 884 DETACHD
57 TOUCHSTONE $420,000 4 3 2465 DETACHD
1231 BAYBERRY RD $469,000 3 2 1980 DETACHD
1921 GLENMORRIE LN $624,000 3 3 2375 DETACHD

PENDING SALES (Dec 17-23,2012 2012)

Address List Price # Beds # Baths Total SF Prop Type CDOM
216 RIDGEWAY RD #14D $122,700 2 1 914 CONDO 74
5225 JEAN RD $159,900 3 2 1500 ATTACHD 139
19176 BENFIELD AVE $299,000 4 2 1538 DETACHD 15
36 AQUINAS ST $324,900 3 2 1606 DETACHD 94
16747 BONAIRE AVE $329,900 3 2 1610 DETACHD 86
17 CONDOLEA DR $350,000 3 2.1 2198 CONDO 197
4750 AUBURN LN $389,500 3 3.1 2679 ATTACHD 240
4360 UPPER DR $415,000 3 2 2434 DETACHD 20
39 TANGLEWOOD DR $425,000 4 3 3124 DETACHD 91
4679 HASTINGS PL $439,900 3 2.1 2097 DETACHD 3
84 BERWICK RD $549,000 5 3 3305 DETACHD 126
4052 ORCHARD DR $688,500 4 3.1 4081 DETACHD 5
467 9th ST $825,000 3 3.1 2800 DETACHD 341
18137 MEADOWLARK LN $1,350,000 4 4.1 5935 DETACHD 23
3917 SOUTHSHORE BLVD $1,950,000 3 4.1 4657 DETACHD 214

SOLD (Dec 17-23,2012)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
3894 BOTTICELLI ST 175000 165000 2 1.1 1132 CONDO 12
16758 GRAEF CIR 259000 255000 3 1 1295 DETACHD 158
18 ABELARD ST 387500 330000 4 2.1 2101 DETACHD 79
1800 KILKENNY DR 349900 332000 5 2.1 4361 DETACHD 132
4328 GALEWOOD ST 359000 351200 3 2.1 1781 DETACHD 5
6109 SUMMER WOODS 394900 390000 4 2.1 2331 DETACHD 16
39 NOVA CT 399900 399900 4 2.1 2590 DETACHD 6
15840 FIR GROVE CT 569900 445000 4 2.1 2666 DETACHD 109
4994 HARTFORD PL 549900 525000 5 2.1 3325 DETACHD 107
14003 CHELSEA DR 550000 540000 4 2.1 3270 DETACHD 248
655 7TH ST 799000 805000 3 2.1 2770 DETACHD 275

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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Open Houses ~ Dec 23, 2012

As we near the Christmas Holiday, we always notice a shift in attention to family, friends, and sharing the Joys of the season… as it should be.
Even so, there are three beautiful homes to see Sunday according to RMLS:

Address L/Price # Beds # Baths Total SF Prop Type Open
4000 CARMAN DR #21 $94,500 2 2 885 TOWNHM 11AM-1PM
17702 OVERLOOK CIR $465,900 5 2.1 3490 DETACHD 1-3PM
831 NORTHSHORE RD $800,000 3 2.1 2200 DETACHD 1-4PM
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News & Notes

Take a break from Holiday Merry-Making and check out what’s happening in the local real estate market!
Here is some recent data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:

According to the RMLS Market Action Report for the Portland Metro Area November, 2012. At 1,733, closed sales were 13.9% higher than November 2011 sales of 1,521.

  • In the first 11 months of 2012, there were 30,964 new listings, 22,726 accepted offers, and 21,546 closed sales.
  • The average sale price year-to-date ($273,800) rose 3.9% over the same period last year,
  • ***AND… Total time on the market has dropped by 21.5% from 143 to 112 days.

    • For our Property Blotter readers, the combined area of Lake Oswego and West Linn reported:

    • 520 Active Listings
    • 94 New Listings
    • 101 Pending Sales
    • 97 Closed Sales
    • An average Sale Price of $425,600.
    • Average Time on the Market: 128 Days
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    Market Activity Dec 10-16, 2012

    It’s beginning to feel a lot like the holidays with a dusting of snow on the ground this morning and just 6 new listing coming on the market last week. There are buyers out there though with 10 houses that received accepted offers last week, and 12 closed sales. I would expect an increase in closed sales this week as people try to move in with time to hang the tinsel and to put up the tree.

    See below for further details on last week’s Market Activity:

    NEWLY LISTED (Dec 10-16, 2012)

    Address Type Price BR Bths SF
    44 Eagle Crest Dr #18 Condo $128,000 3 2 1085
    342 Livingood Ln Detached $439,000 4 2.5 2384
    539 2nd ST #108 Condo $469,000 2 2 1339
    4052 Orchard Dr Detached $688,500 4 3.5 4081
    1759 Bay View Ln Detached $735,000 4 3 4665
    17468 Kelok Rd Detached $975,000 3 2.5 2675

    PENDING SALES (Dec 10-16,2012 2012)

    <
    Address Type Price BR Baths SF DOM
    4620 Lower Dr Condo $75,000 2 1.5 1160 10
    4 Touchstone #116 Condo $150,000 3 2.5 1351 67
    3980 Carman Dr Condo $159,900 3 2.5 1107 50
    3101 McNary Pdwy #10 Attached $199,500 3 2.5 1986 53
    5499 Royal Oaks Dr Detached $392,500 3 2 1780 110
    300 Brookside Rd Detached $598,000 3 2.5 1600 179
    543 2nd ST #204 Condo $699,000 2 2 1816 111
    454 9th St Detached $879,000 3 4 2978 73
    1560 Country Commons Detached $949,000 4 3.5 4379 91
    18402 Old River Landing Detached $1,695,000 4 4.5 4547 504

    SOLD (Dec 10-16,2012)

    Address Type List Price Closed Price Sq Ft CDOM
    13150 Riverside Dr Detached $375,000 $392,200 2242 4
    4 Icarus Loop Detached $409,900 $395,000 2743 111
    14361 Sherbrook Pl Detached $419,900 $419,900 2100 152
    17764 Kelok Rd Detached $488,900 $465,000 2742 152
    17357 Oak Meadow Ln Detached $535,000 $479,000 3247 160
    9 Preakness Ct Detached $588,500 $547,500 3,750 $91
    13366 Boones Ferry Ln Detached $649,950 $550,000 3564 183
    17087 Tualatin St Detached $564,950 $564,950 2622 11
    16791 Sylvan Ct Detached $699,000 $635,000 4315 7
    16655 Woodsman Ct Detached $674,900 $635,000 4131 99
    569 6th St Detached $798,335 $798,335 2595 0
    1644 Lake Front Rd Detached $999,900 $927,500 3840 301

    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