Tag: new listings

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“How Are Things In The Market Right Now?”

“How Are Things In The Market Right Now?” Hmmm… I guess I’m writing more of a philosophical or “opinion piece” today. This is such an interesting question… I hear it every day in one form or another.  Often it is accompanied by “Things are pretty bad, aren’t they?  I hear they’re getting worse.” or “I’m ready to buy but think maybe I should wait till prices drop more.” or “I read that….”   All of these are motivated by a combination of media influence, a desire to make good decisions, and some good ‘ole car-wreck-neck-jerking thrown in.  We are all in the same boat, and Realtors have some inside knowledge that folks would like to have. The truth is, aside from offering some statistics (local, please), and some of what I’ve heard experts predicting, I always say the same thing… “I don’t really believe in statistics… in my own life anyway.”   Real Estate is like that as a profession.  You need a combination of faith, perseverance, and real skill to offer clients in order to achieve successful outcomes. I usually say ( in addition to the numbers or current trends I’m aware of), “Things are pretty good here in my world”.  What you really need to assess is:  How are things in your world?.

You’ll notice that there are fewer Realtors around than there used to be.  One thing you can be sure of; The Realtors who are in business right now are in business for a reason…  namely the three I outlined above. Talk to your Realtor, and begin to assess your own situation.

Is the market in the right shape for your purpose right now?    I don’t know- Ask yourself:

  • Are you needing a bigger home/Is your family growing etc?
  • Is there a change in your living- or relationship-status that necessitates some movement?
  • Are you being transferred in your job?
  • Would you really like to (or do you need to) downsize?
  • Is a change of schools for your kids in order?
  • Have you been wanting a real estate  investment opportunity?
  • Do your friends all live on the other side of town?

These are just a few of the reasons you might want to take advantage of the current really low prices, and really low interest rates. So… for those three variations on questions I get about the market:

  • Assess your own local market data, and talk to a mortgage broker about your own unique set of facts pertinent to your choice to act or not.  Then make the Right Decision for you based on more than rumors or innuendo.
  • As far as prices go… no one really knows for sure, but one thing is true: According to the experts, interest rates are not going lower….  So even if you wait for home prices to lower a little more (assuming they do… locally in the metro area , according to RMLS, sold prices increased from July2010  to August 2010 by 0.8%… & 1% from August ’09)   you will have negated any benefit by most likely settling for higher interest rates.
  • When reading or listening to news reports about real estate- “Consider the source”… and the subject matter.  Very often folks are hearing national information on the national news, and while that can be interesting in gauging where markets might be headed based on experiences in the past (what states declined first… what states followed in both negative and positive trends, and in what order…) the only really relevant information to your particular situation is local.  The adjunct to that of course is how that information intersects with your personal goals.

Read our Market Activity Report every Monday. Talk to your Realtor.  Talk to a Mortgage Broker.  Get the facts and then decide for yourself.  Life is happening everywhere… all at the same time!  : )  Don’t let fear and natural but morbid fascination with negative news stories run your life.  (That’s MY two cents!  : ) Very Best, Linda

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Market Activity September 6-12, 2010

Market activity last week brought us 10 new listings, 11 pending sales, and 3 closed sales.

See below for further details.

NEWLY LISTED (September 6-12, 2010)

Address List Price Bedrooms Baths Sq. Feet Prop Type
2 MOUNTAIN CIR $160,000 2 1.5 1,504 ATTACHD
5063 FOOTHILLS DR $225,000 2 2 991 CONDO
17335 ASHLEY CT $294,900 3 2.5 2,161 ATTACHD
532 2ND ST $350,000 2 2.5 1,394 CONDO
1551 WOODLAND TER $499,000 4 2 2,712 DETACHD
5188 MADRONA ST $549,000 3 3 3,183 DETACHD
17682 MARYLBROOK DR $649,900 4 2.5 3,799 DETACHD
3883 TAMARACK LN $669,000 4 2.5 2,898 DETACHD
13978 Westcott CT 675000 3 3 3,361 DETACHD
1088 WESTWARD HO RD 725000 2 2 1,837 DETACHD

PENDING SALES (September 6-12, 2010)

Address List Price Bedrooms Baths Sq Feet Prop Type
200 BURNHAM RD $139,000 2 1 1,216 CONDO
16250 PACIFIC HWY $139,000 2 2 1,327 CONDO
6125 FERNBROOK ST $239,000 3 1.5 1,271 DETACHD
1496 BOCA RATAN DR $249,900 3 1.5 1,403 ATTACHD
875 LEE ST $349,900 3 2 2,200 DETACHD
2329 STONEHURST CT $539,900 4 3 3,275 DETACHD
18263 ANDUIN TER $575,000 4 3 3,100 DETACHD
550 MIDDLECREST RD $584,900 3 2.5 2,240 DETACHD
13566 STREAMSIDE DR 598000 3 2.5 3,123 DETACHD
5657 VICTORIA CT 689900 4 3 3,421 DETACHD
1641 ENGLEWOOD DR 695000 4 2.5 4,204 DETACHD

SOLD (September 6-12, 2010)

Address List Price Closed Price Bedrooms Prop Type Baths Sq Feet CDOM
745 BERWICK CT $549,000 $520,000 3 DETACHD 2 1988 143
2125 RIDGE POINTE DR $879,000 $790,000 4 DETACHD 3.5 3489 171
13764 KNAUS RD $1,375,000 $1,200,000 4 DETACHD 4.5 4805 52

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 Aug 30-Sept 5, 2010

Market activity last week brought us 16 new listings, 12 pending sales, and 13 closed sales.

See below for further details.

NEWLY LISTED (August 30-Sept 5, 2010)

Address List Price Bedrooms Baths Prop Type
49 OSWEGO SMT $85,000 1 1 CONDO
3924 CARMAN DR $199,000 2 2.5 ATTACHD
23 GREENRIDGE CT $235,000 2 1.5 ATTACHD
5713 SW KENNY ST $284,900 3 2 DETACHD
4347 SILVER CT $312,000 3 2.5 CONDO
9 ORIOLE LN $335,000 3 3 DETACHD
132 MIDDLECREST RD $364,900 3 1 DETACHD
12139 SW ORCHARD HILL WAY $399,000 4 2.5 DETACHD
200 BURNHAM RD 429000 3 2 CONDO
1900 GREENTREE RD 449000 4 3 DETACHD
2634 ORCHARD HILL PL 449500 3 2.5 DETACHD
1033 YATES 549900 4 3.5 DETACHD
17590 BLUE HERON DR 850000 4 3 DETACHD
100 GARIBALDI ST 999500 5 3.5+.5 DETACHD
4464 LAKEVIEW BLVD 1399000 3 4 DETACHD
1300 FAIRWAY RD 4490000 4 3.5 DETACHD

PENDING SALES (Aug 30-Sept 5, 2010)

Address List Price Bedrooms Baths Prop Type
512 S STATE ST $99,900 1 1 CONDO
45 EAGLE CREST DR $119,900 1 1 CONDO
41 GREENRIDGE CT $175,000 3 2.5 ATTACHD
74 GREENRIDGE CT $259,900 3 2.5 ATTACHD
541 2ND ST $499,000 2 2 CONDO
15 SCARBOROUGH DR $499,000 5 3.5 DETACHD
577 2ND ST $535,000 2 2 CONDO
339 6TH ST $549,900 3 3.5 ATTACHD
1050 Schukart LN 599000 3 3.5 DETACHD
3030 WESTVIEW CT 795000 4 2.5 DETACHD
490 COUNTRY CLUB RD 869900 5 4 DETACHD
16772 ALDER CIR 1995000 4 3.5 DETACHD

SOLD (August 30-Sept 5, 2010)

Address Orig./Price Close/Price Bedrooms Prop Type Baths CDOM
5857 CARMAN DR $190,000 $162,000 2 DETACHD 1 92
668 MCVEY AVE $329,998 $252,000 3 CONDO 1.5 647
116 TOUCHSTONE TER $299,000 $270,000 3 CONDO 2.5 327
1851 KILKENNY DR $450,000 $305,000 4 DETACHD 3 2
75 CONDOLEA WAY $389,000 $369,000 3 CONDO 3 133
1480 Hemlock ST $388,800 $369,000 4 DETACHD 3 92
16 PARTRIDGE LN $419,000 $385,000 3 DETACHD 2.5 104
13909 MAJESTIC CT $399,900 $415,000 4 DETACHD 3 126
26 INDEPENDENCE AVE $574,000 495,000 4 DETACHD 3 117
5722 CHARLES CIR $599,900 560,000 4 DETACHD 2.5 69
17446 BRYANT RD $795,000 730,000 4 DETACHD 4 1515
13777 Cameo CT $1,950,000 1,400,000 5 DETACHD 4.5 411
95 IRON MOUNTAIN BLVD $1,550,000 1,400,000 4 DETACHD 5.5 631

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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More Control Issues

I wrote a couple of weeks ago about what you have control over when Selling your home and what you do not.  I promised to address some “control issues” around Buying as well, and so here are a few thoughts:

Lenders:  Do you have control over whether you are approved to purchase a home that you fall in love with? Yes. When you begin your search for a new home, the first stop ought to be a good lender.  A decent percentage of home Buyers do not begin this way, and it is the source of much disappointment and frustration.  I often will take Sellers out looking for properties when I list their home on the market so that they can begin to get an idea of what they like & don’t like in a new home, (and it gives them the opportunity to see how other homes are presented… giving them *hopefully* an incentive to tidy theirs up and create a good showing : )  Very often these clients of mine poo poo talking to a lender before we venture out… they think they know about what they are approved for, and/or will tell me they talked w/someone awhile back who approved them for such & such.  I’ll admit to giving in at times to Buyers who have not yet been to a lender or who have not handed me an approval letter as yet, and I will tell you I have seen tears when people think they’ve found “the one” & then decide that’s a good time to talk to a lender. Here are some pointers:

  • Get the facts up front before you begin looking for properties.  That way you are only looking at homes you would be actually able to purchase. In any undertaking, you want to begin with facts so that you can make good decisions about how to proceed.
  • Don’t worry about taking a lender’s time before you have a property in mind.  This is what they do.  They are used to it.
  • Listen to your Realtor and any other qualified advisors when you are looking for a good lender.  Get a good referral.  You should have at least three from which to choose. ***The lender is the entity holding the most amount of control in the end stages of any mortgage transaction.  A lender who knows and works well with your Realtor will be inclined to nurture the process… especially in the end stages.  And one who is experienced and skilled will be able to field any last-minute issues that may arise so that you actually get to the completion of your transaction.

Negotiating – Do you have control of the negotiation process? Yes.

So, you’ve fallen in love with a property, and you are “countering” with the Sellers over various items.  Your job is to keep a cool head, and remember what is important to you.  Your Realtor will give you good advice on pros & cons of different options, and in the end, it is your decision how to proceed.  Remember your budget and look at the bottom line.  That said, also give some thought to how important a few dollars a month may or may not be to you if you are achieving other goals.  Remember… You’re in the driver’s seat. You get to decide what’s right or wrong for you.

Earnest Money or Promissory Note? – You make this decision too, and the one about how much it will be.  I advise my clients that the earnest money is their statement to the Seller reflecting their sincerity (earnestness : ) in wanting to purchase their home.  The Seller will be taking their home off of the market if they accept your offer, and so you are showing good faith, and in the event you do NOT abide by the contract you are, in essence, compensating them for taking their home off the market for you for a time.

An earnest money check always gives a better impression with an offer (and you are trying to get them to agree to accept your offer right?) than a promissory note. The exception to this would be if you are out of state and making an offer without the ability to hand your Realtor an earnest money check.  People tend to understand this circumstance.

Your earnest money goes toward the bottom line of your transaction, and is held by the escrow office as a neutral third party while your transaction is in process.    If, for instance, you find something during your inspection period that causes you to want to retract your offer, escrow will return your earnest money, and you can begin looking for another suitable property.  The contract also states that you must be able to get funding… so if you are not able to obtain funding through no fault of your own, you should receive your earnest money back as well.  If the home does not appraise for at least the sale price, and either you, the Seller, or both of you are unwilling to negotiate price or come to some other arrangement, you should receive your earnest money back. The only way to lose your earnest money, really, is to violate some term of the contract.  As long as you meet the time lines in the contract, and perform as you have agreed, your earnest money is safe.

Well, I hope that these tidbits were helpful.  That’s enough discussion of  “control issues” for now…  I’ve got to run and assist some fantastic Buyers in making some decisions of their own!

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Market Activity ~ Aug 23-29, 2010

We had 15 New properties enter the market in Lake Oswego this last week, 5 go to Pending status, and 7  Closed/Sold.

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

NEWLY LISTED (August 23-29, 2010)

Address List Price # Beds # Baths Total SF Prop Type
79 GALEN ST $69,900 2 2 995 CONDO
5180 W SUNSET DR $289,000 1 1 736 DETACHD
2240 SOUTHSHORE BLVD $309,000 3 1 1120 DETACHD
19189 INDIAN SPRINGS RD $347,000 4 3 2156 DETACHD
580 2ND ST $395,000 2 1.2 1464 CONDO
5644 WINDFIELD LOOP $399,000 3 3 1800 DETACHD
2355 GREENTREE RD $449,900 3 2 1992 DETACHD
4978 MULHOLLAND DR $459,000 3 2.1 2498 ATTACHD
17787 BLUE HERON DR $469,950 4 3 2448 DETACHD
310 DURHAM ST $475,000 3 2.1 1940 ATTACHD
1119 OAK ST $524,900 4 2.1 2123 DETACHD
877 CORNELL ST $739,000 3 3 3100 DETACHD
5320 SOUTHWOOD DR $795,000 4 3 3646 DETACHD
844 5TH ST $829,000 3 3 2590 DETACHD
17010 Chapin WAY $1,115,000 4 3.1 4032 DETACHD

PENDING SALES (Aug 23-29, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
1684 BOCA RATAN DR $248,900 3 2 1611 ATTACHD 531
18929 INDIAN SPRINGS RD $324,900 5 3 3380 DETACHD 7
1480 Hemlock ST $388,800 4 3 2246 DETACHD 92
26 INDEPENDENCE AVE $515,000 4 3 3694 DETACHD 117
13595 KNAUS RD $599,000 4 2.1 3339 DETACHD 15

SOLD (August23-29, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
1728 ASPEN CT $279,900 $250,000 3 2.1 1852 DETACHD 385
139 TOUCHSTONE CT $279,900 $270,000 2 2.1 1846 ATTACHD 33
4490 LAKEVIEW BLVD $299,900 $290,000 3 2 1727 DETACHD 90
3068 DUNCAN DR $424,000 $369,750 4 4 3281 DETACHD 272
12748 SW 22ND AVE $699,000 $435,000 4 2.1 2584 DETACHD 373
12819 ALTO PARK RD $1,097,500 $927,000 4 4.1 3944 DETACHD 115
1097 CHANDLER RD $1,439,000 $1,390,000 4 4.1 5313 DETACHD 42

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 ~ Aug. 16-22, 2010

We’ve got 21 New properties on the market in Lake Oswego as of this last week, 14 that have gone to Pending status, and 8 that have Closed/Sold.    I left a couple of properties as “New” even though they had not been off the market for at least 30 days (which is my usual rule for that) because they had both new representation AND significant price reductions…   The rest are truly fresh listings.

Healthy activity. You’ll note in the “Sold” section below, that most of these were not on the market for that long, relatively speaking.  Summertime season. It’s also always interesting to note the Opening price as compared to the Closed Price.  One sold for $30,000 more than it was listed for… not sure what was up there. But most prices took a drop; some pretty significantly.

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

NEWLY LISTED (August 16-22, 2010)

Address List Price # Beds # Baths Total SF Prop Type
58 GALEN ST $80,000 1 1 689 CONDO
100 KERR PKWY #34 $155,000 2 2 823 ATTACHD
4 TOUCHSTONE #120 $178,900 3 2.1 1350 CONDO
3854 BOTTICELLI ST $200,000 2 1.1 1132 CONDO
5055 FOOTHILLS DR $250,000 2 2 1252 CONDO
4948 MEADOWS RD $259,900 3 2 2491 DETACHD
464 5TH ST $290,000 2 1.1 1092 ATTACHD
6062 BURMA RD $314,900 4 2 1875 DETACHD
13990 SHIREVA CT $325,000 3 2 1651 DETACHD
12623 SW BOONES FERRY RD $349,950 2 2 1652 DETACHD
14101 GOODALL RD $350,000 4 2 1816 DETACHD
19026 SW INDIAN SPRINGS RD $359,900 5 3 2841 DETACHD
5717 BONITA RD $400,000 4 2 2572 DETACHD
2697 LOOKOUT CT $429,000 3 2 2219 DETACHD
6051 SUMMER WOODS $495,000 4 2.1 2642 DETACHD
17973 SAINT CLAIR DR $577,000 4 3 3323 DETACHD
13566 STREAMSIDE DR $598,000 3 2.1 3123 DETACHD
4055 ORCHARD DR $649,999 5 0.4 3350 DETACHD
5157 DENTON DR $719,900 4 2.1 3087 DETACHD
5231 DENTON DR $739,900 4 2.1 3031 DETACHD
330 NORTHSHORE RD $799,000 4 3 3324 DETACHD

PENDING SALES (Aug 16-22, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
44 EAGLE CREST DR $89,900 2 1 908 CONDO 408
54 CERVANTES CIR $139,000 2 1.1 912 CONDO 83
200 BURNHAM RD #206 $139,000 2 1 1199 CONDO 1521
5857 CARMAN DR $180,000 2 1 972 DETACHD 92
16000 PACIFIC HWY #25 $189,000 2 2 1200 CONDO 308
6011 SHAKESPEARE ST $195,000 3 1 1318 DETACHD 1
5060 FOOTHILLS DR C $229,950 3 2 1252 CONDO 32
1818 COUNTRY CLUB RD $235,000 4 2 1596 DETACHD 131
668 MCVEY AVE #20 $239,998 3 1.1 992 CONDO 647
1073 HALLINAN ST $349,000 3 2.1 1828 DETACHD 64
4243 ALBERT CIR $354,000 4 3 2257 DETACHD 11
19 FALSTAFF ST $425,000 4 2.1 3207 DETACHD 169
3210 FIR RIDGE RD $525,000 4 3.2 2832 DETACHD 125
17700 UPPER CHERRY LN $2,495,000 5 5.1 6907 DETACHD 10

SOLD (August16-22, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
26 CONDOLEA DR $229,900 $185,000 2 2 1420 CONDO 131
580 8TH ST $255,000 $285,000 2 1 852 DETACHD 12
4524 AUBURN LN $535,000 $480,000 3 3.1 2732 ATTACHD 169
16884 SUMMER PL $524,900 $520,000 4 2.1 2911 DETACHD 22
18282 ANDUIN TER $625,000 $554,000 4 2.1 3765 DETACHD 1
5783 VICTORIA CT $599,900 $572,000 3 2 2500 DETACHD 21
5529 WESTFIELD CT $629,000 $629,000 3 2.1 2968 DETACHD 4
1973 CHERYL CT $1,695,000 $1,450,000 5 4.1 6436 DETACHD 53

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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“Control Issues”

I seem to keep bumping into a concept lately that I thought might be nice fodder for a post in the Blotter.  How much control do you think you have in general in your life?  How much control would you LIKE to have?  …Are you sure?

In real estate there are certain things we can control and certain things we cannot.  I thought it might be fun to delve into some examples of this:

  • If you are selling your home, do you have control over the location? Well, no.  BUT, when making a decision about where to buy, that would be a good time to look down the road and take that property’s location into account for future resale purposes.  If you are getting a REALLY good deal on a home because of where it’s located, you might want to think twice.
  • If you are selling your home, do you have control of it’s condition? Absolutely.   Now, you may say, “I only have a certain amount of money to spend on getting this place ready for sale”, but in the end, you are making the decisions, and have been making the decisions… and now here you are.  Control of this factor aside though, no matter what kind of financial position you are in, this is always an issue when selling your home… “How much should I put into this home I am moving out of?”  When I am working with a client in a position where there are limited funds, we sit down together first and I go over my list of items that will make the property most appealing to the greatest number of Buyers.  THEN, we get real.  Some things, like paint, are inexpensive, and realistically can be handled by the homeowner themselves. Some things require professional assistance.  Sometimes it is just a matter of rearranging a few pieces of furniture and perhaps doing your moving “sort-through” now & considering it work you’ll have to do to move anyway… Tends to make it purposeful and even fun!  Goodwill will love you, and a storage facility or a POD might be a good option to clear your home of things that only make the rooms look smaller.  You’ve heard it before: “The way you live in a house is NOT the way you sell a house.”  So… you do have control of how your home will present to the Buying Public.  Just lay out the facts & pragmatically decide the best way to address each issue.  Buyers in this market are picky… they can afford to be with the number of homes from which to choose.  You have to reveal the gem that is YOUR home, and when you do, someone else will walk in and love it the way you did when you were in that position.
  • Do you have control over the terms of an accepted sale agreement? Yes.  You may not agree with me, but after all the options have been presented and discussed between you and your Realtor, you get to say yea or nay.  It’s your house and you don’t have to sell it for terms that are not to your liking.   Now… do you sometimes have to give a little here or there in order to make your transaction happen?  Yes.  For instance, when there are repairs requested that you are advised will, or may, be required by the Buyer’s lender, it might be in your best interest to make them so that you can close… that is if you want to.  If there are safety issues or other significant ones that have been uncovered in inspection, many will also want to address those prior to close.  The Golden Rule tends to work well here, and usually you are in the process of negotiating terms for your own purchase, so you get to enjoy a 360-degree view of how it feels to be on either side. Again though, you are in control.  You can always say “no”, and the chips will fall where they fall.
  • Are you in control of price & your home’s position in the marketplace? Yes.   You obviously don’t control what other people have sold their homes for around you, or what has happened in the market in general, but after your Realtor presents you with comparable data (i.e. available facts), you make the decision regarding what number will go on your flyers and on the MLS. Many Realtors will let you know that they will or will not take on a listing depending on the “reasonableness” of the price desired by the Seller.  You still are the one who makes the final decision on price, and perhaps the decision on whether to work with that person or not.  As a Realtor myself, I will tell you that most Sellers want to price their property too high for the market (sorry… it’s true : ).  Consider that a Realtor who is advising you does not have much of an incentive to talk you into pricing your home too low…  being as their compensation is based on the sale price.  Worth a thought.  I’d venture a guess that you are probably being given the straight scoop.  I like to tell my clients that all we are doing is looking at the facts, and pricing accordingly…  why would you do anything less?  Dianne and I have been reporting that the facts show homes selling now seem to be the ones either very new on the market, or very old listings that have dropped their prices considerably & often.  Ask yourself how long you want to be on the market, and how many price reductions you are willing to go through if you price against what the facts are telling you.  You will gain the most exposure when your home is fresh on the market.  Take advantage of that and price it right. Also.. remember that you are most likely buying as well…  any market conditions will be in effect on either side of the negotiation table.
  • Are you in control of marketing your home and the exposure it gets? Yes.  That is your Realtor’s job, AND, you are part of this conversation and deciding what kind of promotion you want.   Talk to any prospective Realtor about how they plan to garner exposure for your listing.  Look at the words they are choosing for your promotional pieces and make sure you like how the property is being presented. Make sure their is a good deal of Internet exposure, and that all the details about your home are factual.  It’s also a good idea to go over marketing with your Realtor on a periodic basis to gauge feedback and results. Give your input, and make sure to voice any concerns, but then trust your professional, and put your energies to how the house itself  is presenting each day to prospective Buyers, and to your own search for a new home.
  • Are you in control of the timing of your transaction? No.    You really never know when that Buyer will walk in your door and have the reaction “This is the one!”.  You need to have your Windex ready every day as you leave for work & at least briefly touch each of your sinks & fixtures.  You want them to shine when that Buyer walks in. Check your home’s entrance as you leave to make sure that there is that great first impression just waiting for the right moment. Once that happens, and your Buyer has arrived, there are a few things you CAN control about timing, such as when you are willing to be out of your property- unless there is a set date that the Buyer absolutely needs… If this happens, then you are back to “Do I want this transaction to go forward?”… I have not said that there may not be a few hard decisions here & there : )   For the most part, this is why you picked the Realtor you did.  Let them help you through any rough spots.  In the end stages of your transaction, the Buyer’s lender will truthfully have a good deal of control over what happens in what kind of time frame. Know that even if the timing seems like a roller coaster ride, all the dominoes will fall into place and the timing really will, most always, take care of itself with some good choices, and sure, steady footing as you move to close.  Accept help from your Realtor during this time, and get ready to move into your new home!

This seems like a lot for now.  The subject of “Control” and under what circumstances you have it and to what degree is such a rich subject.  I promise I’ll come back to it, and perhaps focus on the Buying angle next time.   In the meantime… Happy Summer!

Very Best,

Linda

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Market Activity August 9-15, 2010

Along with a heat wave, Lake Oswego had 13 new listings, 11 pending sales, and 10 closed sales in the last week.
Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (August 9-15, 2010)

Address List Price BR Baths SQ Feet Prop Type
16257 LAKE FOREST BLVD $249,900 3 1 1,132 DETACHD
11 CONDOLEA DR $415,000 2 2.5 2,157 CONDO
273 EVERGREEN RD $499,000 3 3.5 1,789 ATTACHD
17560 WESTVIEW DR $539,000 3 2.5 2,561 DETACHD
1625 BEDFORD CT $549,900 2 2.5 2,460 DETACHD
29 SPINOSA $579,900 3 2.5+.5 3,187 DETACHD
1278 HIDE A WAY LN $599,000 4 2.5 2,700 DETACHD
1277 HIDE A WAY LN $599,900 5 3 3,120 DETACHD
4685 UPPER DR 600000 3 2 3,341 DETACHD
5321 AMBERWOOD CT 729000 4 3 3,315 DETACHD
610 CABANA LN 895000 3 2 1,729 DETACHD
4018 COHO LN 1099000 4 4.5 4,777 DETACHD
1954 EGAN WAY 1295000 3 2.5 3,748 DETACHD

PENDING SALES (Aug 9-15, 2010)

Address List Price BR Baths Sq Feet Prop Type CDOM
322 CERVANTES CIR $69,900 2 1 832 CONDO 82
16790 LAKE FOREST BLVD $155,000 2 1 780 DETACHD 32
1728 ASPEN CT $259,900 3 2.5 1,852 DETACHD 385
4201 COLLINS WAY $279,000 3 2 1,230 DETACHD 40
5207 COVENTRY CT $439,000 3 2 1,973 DETACHD 12
19451 SW DOGWOOD CT $539,900 6 3 3,547 DETACHD 93
1704 GLENMORRIE TER $583,000 5 3 3,885 DETACHD 124
13768 KNAUS RD $619,000 4 2 2,418 DETACHD 27
17467 WESTVIEW DR 727900 4 3.5 3,774 DETACHD 4
3540 RED CEDAR WAY 799000 5 3.5 4,100 DETACHD 177
606 6TH ST 839000 4 3 2,988 DETACHD 131

SOLD (August 9-15, 2010)

Address O/Price Sold Price BR Sq Feet Prop Type CDOM
1255 BAYBERRY RD $390,000 $260,000 3 1,901 DETACHD 335
1641 ASH ST $419,950 $279,500 4 2,825 DETACHD 177
5434 YORKSHIRE PL $369,900 $385,000 3 2,335 DETACHD 5
4284 WESTBAY RD $525,000 $490,000 3 1,539 DETACHD 12
220 GREENWOOD RD $599,900 $565,000 4 2,639 DETACHD 573
18010 GIMLEY CT $649,000 $575,000 4 3,652 DETACHD 116
14002 TAYLORS CREST LN $650,000 $599,000 4 3,086 DETACHD 132
898 CORNELL ST $759,000 $702,000 3 3,000 DETACHD 390
1703 VILLAGE PARK LN $789,000 $745,000 3 3,450 DETACHD 156
18820 GREENBLUFF DR $1,495,000 $1,193,950 4 5,382 DETACHD 99

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 ~ August 2-8, 2010

Lake Oswego had 20 New properties enter the market, 12 go to Pending status, and 5 Sold during last week’s Monday – Sunday period according to RMLS.

This must be some kind of a record in this market~4 out of the 5 properties that closed last week were on the market for only around 2 weeks at: 19, 14, 9 & 12 days… total time on the market respectively.  I checked the history reports just to make sure, but sure enough, the info is accurate. Very interesting.

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

NEWLY LISTED (August 2-8, 2010)

Address List Price # Beds # Baths Total SF Prop Type
47 EAGLE CREST DR $70,900 1 1 696 CONDO
4631 LAKEVIEW BLVD $99,000 1 1 753 CONDO
129 OSWEGO SMT $99,995 1 1 764 CONDO
208 RIDGEWAY RD $144,900 1 1 778 CONDO
15220 BOONES WAY $179,900 2 1.1 1266 CONDO
212 RIDGEWAY RD $189,900 1 1 778 CONDO
5852 LAKEVIEW BLVD $243,000 3 1 1099 DETACHD
6157 SHAKESPEARE ST $319,900 3 1.1 1558 DETACHD
14081 GOODALL RD $364,900 4 2 2250 DETACHD
19201 MAREE CT $399,700 3 2 3739 DETACHD
5866 RIDGETOP CT $400,000 3 2 1866 DETACHD
6155 FROST LN $450,000 4 2.1 2364 DETACHD
1 HIDALGO ST $459,000 3 2.1 2670 DETACHD
4101 VIRGINIA WAY $499,000 5 3.1 2752 DETACHD
6236 WAYZATA CT $541,500 5 2.1 2752 DETACHD
13250 SANDALWOOD CT $569,000 3 2.1 2842 DETACHD
15776 INVERURIE RD $650,000 2 1 2350 ATTACHD
1483 WOODLAND TER $729,000 4 2.1 2794 DETACHD
5983 CLAIRMONT CT $749,000 5 3 3518 DETACHD
17531 KELOK RD $1,075,000 4 3 3000 DETACHD

PENDING SALES (Aug 2-8, 2010)

Address List Price Prop Type Total SF # Beds # Baths CDOM
200 BURNHAM RD $139,000 CONDO 1328 2 2 1134
16250 PACIFIC HWY $159,000 CONDO 1311 2 2 821
16000 PACIFIC HWY $179,000 CONDO 1208 2 2 310
642 EVERGREEN RD $210,000 DETACHD 810 2 0.1 0
16149 PEARCY ST $319,900 DETACHD 1250 3 2 35
15265 BOONES WAY $324,500 ATTACHD 1560 2 2.1 21
1660 WOODLAND TER $385,000 DETACHD 2728 4 3 208
75 CONDOLEA WAY $389,000 CONDO 2131 3 3 133
5288 DENTON DR $759,000 DETACHD 3240 5 2.1 43
17446 BRYANT RD $770,000 DETACHD 3477 4 4 1515
2125 RIDGE POINTE DR $819,000 DETACHD 3489 4 3.1 171
12819 ALTO PARK RD $1,097,500 DETACHD 3944 4 4.1 115

SOLD (August 2-8, 2010)

Address O/Price Close Price # Beds # Baths Prop Type Total SF CDOM
5713 SW KENNY ST $203,910 $194,000 3 2 DETACHD 1296 19
1960 MAPLELEAF RD $225,000 $195,325 3 2 DETACHD 1210 3
4321 WOODSIDE CIR $289,000 $273,000 3 2 ATTACHD 1532 14
17845 SARAH HILL LN $417,000 $385,000 4 2.1 DETACHD 2970 9
5580 KILCHURN AVE $549,900 $515,000 4 2.1 DETACHD 2286 12

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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Featured Property ~ 4840 Lamont Way

What a charming home… I just couldn’t resist sharing my new listing with y’all!

1793 SF – 3 Bd – 2 Baths –  + Detached Studio or Shop – $335,000

Nestled on a very large (.28 acres) lot, this is a very private property in one of the hotter neighborhoods in Lake Oswego. Located at the rear of low-maintenance English-Garden-Style Grounds, it offers Privacy, Comfort and Location!

About a block off of Lakeview and easy access off Bryant Rd, this remodeled cottage is very near both Waluga Jr. High School and Bryant Elementary… as well as Shops, Services, Dining, the Lake… and so much more!  It is much larger than it looks from the outside, and for a home with a mature natural setting & gorgeous tall trees, it has tons of light through the multitude of windows and skylights. Though it has lots of vinyl windows, it also boasts really nice updated wooden dual-pane ones that add to the warm feel of this home.

Check out the Newer Kitchen, Dining/Sunroom, New Carpet throughout, Generous Bedrooms, Hardwoods, French Doors, Large Bathroom w/Separate Soaking Tub & Shower upstairs, and Master on the Main Level.

There is a Detached Studio in back that also has incredible loft storage space  (It is 16′ X 20′ & not included in home’s square footage.) Use it as a Guest House, Artist Studio, Shop or Office.

This large lot & super-cute cottage is a Rare Secluded Gem – Could be the site of your future dream home down the line!  For now… Comfort, Space and Privacy in a prime location.

Come visit me Sunday when I’ll be holding it open from 2-4PM!!  (See Photos Below)