Tag: Oregon

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Market Activity ~ March 19-25, 2018

Last week 16 New properties entered the market in Lake Oswego, 24 moved to Pending status, and 16 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 19-25, 2018)

Address List Price # Beds # Baths Total SF Prop Type
750 1ST ST E31 $199,900 1 1 986 CONDO
47 EAGLE CREST DR #49 $205,000 2 1 932 CONDO
67 OSWEGO SMT/Upper $225,000 2 2 1212 CONDO
668 MCVEY AVE #74 $285,000 1 1 636 CONDO
9 ORIOLE LN $429,000 3 3 1928 DETACHD
15256 BOONES WAY $490,000 3 2.1 1618 ATTACHD
18440 SW DON LEE WAY $525,000 3 1.1 1223 DETACHD
5228 COVENTRY CT $565,000 4 2.1 2382 DETACHD
6435 Frost ST #10 $649,960 3 2.1 1838 DETACHD
16731 ALDER CIR $699,000 3 2.1 2301 DETACHD
6447 Frost ST #9 $699,960 3 2.1 2227 DETACHD
19330 River Run DR $814,900 4 4 3786 DETACHD
3914 EDENS EDGE DR $1,548,000 5 5.2 6635 DETACHD
210 NORTHSHORE RD $1,575,000 4 3 3148 DETACHD
1053 C AVE $1,595,000 4 3.1 3854 DETACHD
2088 CREST DR $3,988,000 4 5.1 7737 DETACHD

PENDING SALES (March 19-25, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
58 GALEN ST/Upper $154,000 1 1 689 CONDO 18
80 OSWEGO SMT/Upper $185,000 2 2 1140 CONDO 5
200 BURNHAM RD #101 $194,900 1 1 959 CONDO 181
4000 CARMAN DR #70 $237,500 2 2 974 CONDO 4
750 1ST ST C14 $285,000 2 2 1350 CONDO 25
5061 FOOTHILLS DR D $294,900 2 2 991 CONDO 183
750 1ST ST #27 $297,000 2 2 1350 CONDO 4
5059 FOOTHILLS DR G $309,000 2 2 991 CONDO 108
3912 CARMAN DR $389,500 3 2.1 1326 CONDO 22
5325 OAKRIDGE RD $419,900 4 2 1191 DETACHD 16
4324 WOODSIDE CIR $425,000 2 2 1216 ATTACHD 7
1682 FIRCREST DR $539,900 4 2.1 2304 DETACHD 4
1612 HIGHLAND DR $549,900 4 3 2158 DETACHD 2
304 6TH ST $615,000 1 1 941 DETACHD 5
4729 FIRWOOD RD $699,000 4 2.1 2647 DETACHD 4
3106 ROSEMARY LN $729,900 3 2.1 2717 DETACHD 75
17641 BROOKHURST DR $782,500 4 2.1 3386 DETACHD 1
4985 CASCARA LN $790,000 5 2.1 3607 DETACHD 125
18341 HEATHER ANN CT $849,900 4 3.1 2316 DETACHD 3
496 10TH ST $850,000 4 2 2854 DETACHD 15
16002 INVERURIE RD $880,000 3 3 3189 DETACHD 0
1565 PINE ST $950,000 4 2 2830 DETACHD 9
426 7TH ST $960,000 4 2.1 3088 DETACHD 49
4204 CHAD DR $1,050,000 5 3.1 3930 DETACHD 6

SOLD (March 19-25, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
33 OSWEGO SMT/Lower $184,900 $162,000 1 1 764 CONDO 183
3433 MCNARY PKWYbv#806 $214,900 $219,000 2 2.1 1136 CONDO 203
18179 PILKINGTON RD $399,950 $366,000 3 2 1290 DETACHD 266
466 5TH ST / Ground $389,000 $387,800 2 1.1 1092 CONDO 71
18966 LONGFELLOW AVE $459,950 $435,000 3 2 1330 DETACHD 26
17790 OVERLOOK CIR $590,000 $498,750 3 3 3480 DETACHD 22
17 FALSTAFF ST $599,000 $580,000 4 3 2450 DETACHD 100
1413 OAK ST $600,000 $590,000 3 3 2424 DETACHD 23
1503 PINE ST $639,900 $597,515 5 3 2792 DETACHD 165
683 9th ST $575,000 $605,000 3 2 1396 DETACHD 4
16982 KARA LN $615,000 $620,000 4 2.1 2408 DETACHD 2
17720 OVERLOOK CIR $615,000 $620,000 4 2.1 3400 DETACHD 12
4004 MELISSA DR $709,900 $709,900 4 2.1 2865 DETACHD 8
127 FURNACE STb #127 $799,000 $800,000 2 2.1 1927 CONDO 1
282 GREENWOOD RD $890,000 $875,000 3 2.1 2530 DETACHD 16
4660 WILDWOOD ST $1,289,900 $1,275,000 4 4 3709 DETACHD 36

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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Condo vs Townhouse, What’s the Difference?

A condominium in Lake Oswego
As prices have increased in the last few years, one of the hottest parts of Lake Oswego’s real estate market has become condos and townhouses. The two terms tend to be used somewhat interchangeably, but there is actually a very big difference between the two and I thought I’d take a moment to explain the difference.

In a condo you are buying the interior walls and everything within the air space that is contained by the interior walls. The exterior walls, the space between the exterior and interior walls, and everything outside of the exterior walls is owned by the home owner’s association. This means that if you own a condo and you get a clog in your toilet, you have to pay for the repair if the clog is in the toilet itself, but as the plumbing for the toilet passes by the interior wall and leaves the condo, the plumbing belongs to the HOA and it becomes their responsibility to repair the clog.

I am making a big generalization here. Every HOA has it’s own by-laws and conditions, covenants, and restrictions, and there may be provisions in these documents that has an exception for something like a toilet clog, but in general the example holds true.

So with a condo, you rely on the home owner’s association to take care of everything outside of the living space within the condo. This includes the attic, the crawlspace below, all of the exterior paint, roof, parking lot, landscaping etc.

Most condominiums have what are called “limited common areas”. These are usually decks and small patios that are for the use of the individual unit owner, but are maintained by the HOA and for which the HOA may enter to do maintenance work.

In a townhouse you not only own the interior space, but you also own the dirt below the home, the crawlspace, and usually the attic as well. If you have a small yard or deck, it is yours and you maintain it. The usual practice in townhouses is that the HOA owns the roof and exterior siding and they maintain those.

This may seem like splitting hairs, but it is most significant when it comes to bank financing. Banks and mortgage companies look at townhouses the same way that they look at stand alone homes. They are financed the same way and are eligible for FHA and VA financing just like regular homes that get mortgages.

Condominiums are not financed like regular homes. They are financed as condominiums with very specific guidelines and restrictions. If a property is a condominium it must be in an approved complex to qualify for either FHA or VA financing. For conventional financing there are also restrictions, although not quite as stringent.

The word townhouse by practice has come to reference more of an architectural style. The public tends to think that a townhouse is attached to its neighbors only on the sides and that it does not have an attached neighbor either above or below. This is a fallacy. Just because it has a style known as a “townhouse” does not mean that it is not, in fact, a condo. So how do you know if a property is a townhouse or a condo? It’s in the legal description of the property. If it’s a condo, it will have a legal description that includes the word “condominium”.

It can all be a bit confusing. Further mixing folks up is the word “attached”. This word has been used in the RMLS data base for decades. It needs to fall out of use! It may mean that the property is attached to another property, but it does not tell you if it’s a townhouse or a condo. In time, I do think it will fall out of use, but in the mean time I hope this little explanation has helped you to understand what is a condo and what is a townhouse.

Dianne

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Market Activity March 12-18, 2018

Our weather may have a few showers, but the sun breaks are beautiful and growing more frequent. Spring truly is spectacular in Oregon, particularly in the Willamette Valley. I also feel that the spring market is in full swing. Well priced homes are selling fast and the inventory remains low. If you are thinking of buying, get pre-qualified, find a good Realtor, and get in the swing of it.

Last week in Lake Oswego we had 14 homes enter the market, 21 moving into pending status, and 17 sold/closed properties.

Following is the breakdown for you according to RMLS:

New on the Market (March 12-18, 2018)

Address Type Price BR Baths Sq Ft
68 Greenridge Ct Townhouse $479,000 3 2.5 2868
4902 Mulholland Dr Townhouse $539,900 3 2.5 2495
304 6th St Detached $615,000 1 1 941
16969 Alder Circle Detached $734,900 3 2 1534
720 Maple St Detached $737,000 3 2.5 3966
18341 Heather Ann Ct Detached $849,900 4 3.5 2316
1804 Oak Knoll Ct Detached $875,000 4 3 2667
17851 Westview Dr Detached $890,000 4 3.5 3433
1565 Pine St Detached $950,000 4 2 2830
1190 Bayberry Rd Detached $1,159,000 4 2.5 2732
17544 Ridgeview Ln Detached $1,378,000 4 3.5 4561
13750 Knaus Rd Detached $1,495,000 5 4 4773
3101 Westview Ct Detached $1,550,000 4 3.5 4290
16865 Greenbrier Rd Detached $2,595,000 5 5 6104

Pending Sales (March 12-18 , 2018)

Address Type Price BR Baths Sq Ft CDOM
4 Touchstone #130 Condo $215,000 2 2 984 18
86 Oswego Summit Condo $225,000 2 2 1140 2
94 Oswego Summit Condo $249,000 2 2 1140 4
3844 Botticelli St Condo $289,000 2 1.5 1132 5
3986 Carman Dr Condo $329,000 2 2.5 1107 3
5051 Foothills Dr C Condo $344,900 2 2 991 21
18440 Sandpiper Circle Detached $350,000 3 2 1447 28
156 Kingsgate Rd Detached $399,900 2 2 2020 68
110 Kingsgate Rd Detached $410,000 3 2.5 1669 2
13 Bloch Terr Attached $415,000 3 2.5 1972 27
578 2nd St Condo $492,000 2 2.5 1361 39
536 2nd St Attached $499,000 2 2.5 1394 3
1714 Meadows Dr Detached $539,000 3 2 1912 5
313 3rd St Attached $679,900 3 3.5 1962 4
17370 Brookhurst Dr Detached $729,000 4 2.5 3140 3
13209 Twin Creek Ct Detached $729,900 4 2.5 3021 8
5616 Southwood Dr Detached $750,000 5 2.5 3043 24
15985 Bonaire Ave Detached $900,000 3 3 2910 5
17503 Cherry Ct Detached $945,000 4 3.5 4267 13
116 Middlecrest Rd Detached $1,075,000 4 3 2545 34
1221 Glenmorrie Dr Detached $1,459,000 4 3.5 4231 205

Sold/Closed (March 12-18, 2018)

Address Type List Price Sold Price Sq Ft CDOM
160 Oswego Summit Condo $199,000 $199,000 1383 23
133 Oswego Summit Condo $199,900 $199,900 923 4
4000 Carman Dr F90 Condo $205,000 $205,000 834 9
668 McVey Ave #46 Condo $274,900 $251,750 863 49
5225 Jean Rd #510 Condo $274,900 $274,900 1100 2
17484 Bryant Rd Detached $409,000 $412,400 1431 0
17522 Bryant Rd Detached $450,000 $452,500 1152 0
17460 Schalit Way Detached $569,900 $497,000 2190 174
15 Del Prado St Detached $520,000 $520,000 2180 3
4745 Cambridge Ct Attached $749,900 $675,000 3171 145
4725 Cambridge Ct Attached $799,900 $700,000 2942 130
830 Lake Forest Dr Detached $789,000 $722,350 2517 199
17167 Cedar Rd Detached $764,900 $745,000 2673 108
1418 Maple St Detached $825,000 $775,000 2066 98
16931 Maple Circle Detached $1,500,000 $1,500,000 3635 0
13705 Knaus Rd Detached $1,848,000 $1,750,000 5339 625
16835 Greenbrier Rd Detached $5,950,000 $5,950,000 8852 1

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 ~ Feb 2018

Here is your look at the most recent data for the entire Portland area and how Lake Oswego fits in to this picture just below:

  • According to the RMLS Market Action Report for the Portland Metro Area, February, 2018:
    • There were 2,530 New Listings in Feb 2018 which was up .4% from Feb of 2017’s 2,521, and UP  1.8% from Jan of 2018’s total of 2,486.
    • At 1,806, Feb Closed Sales were up 8.2% from Feb 2017’s 1,669, and 10% from the previous month/Jan 2018’s total of  1,628.
    • February’s Pending Sales (accepted offers), at 2,337 dropped 1.4% from Feb of 2017’s 2,369, and increased slightly at 1.1% from the previous month/Jan 2018’s total of 2,311 
    • The Average Sale Price in February of $441,900 was up $37,700 from February 2017’s $404,200, and also up from January 2018’s $436,400 by $5,500.   

Neighborhoods: February’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $418,000              7.6%   (Jan 435,300)
  • NE Portland:  $462,400                   7.3%   (Jan 445,800)
  • SE Portland:  $418,700                   9.1%   (Jan 380,900)
  • Gresham/Troutdale:   $339,400   11.2%   (Jan 351,600)
  • Milwaukie/Clackamas:  $406,100  9.6%   (Jan 424,800)
  • Oregon City/Canby:   $381,200      6.2%   (Jan 408,600)
  • Lake Oswego/West Linn:$706,400 4.8%   (Jan 631,600)
  • West Portland:    $602,500             3.5%   (Jan 609,300)
  • NW Wash County:  $540,100          7.4%   (Jan 538,300)
  • Beaverton/Aloha:     $380,500        8.6%   (Jan 367,600)
  • Tigard/Wilsonville:   $443,600        6.7%   (Jan 428,400)
  • Hillsboro/Forest Grove: $384,600 10.1%   (Jan 390,300)

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for the month of February 2018 reported:

    •  296 Active Listings   (Jan 281)
    •  158 New Listings     (Jan 146)
    •  120 Pending Sales  (Jan 101)
    •   92 Closed Sales      (Jan 93)
    • Average Sale Price for Feb: $706,400  (Jan 631,600)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew 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.
    • 107 Average Days on the Market   (Jan 93)
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Market Activity ~ March 5-11, 2018

Lots of activity, and of course we had… sunshine! You should have seen the hordes out in Lake Oswego for the Open Houses this weekend.

Last week 13 New properties entered the market in Lake Oswego, 34 moved to Pending status, and 10 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 5-11, 2018)

Address List Price # Beds # Baths Total SF Prop Type
3844 BOTTICELLI ST $289,000 2 1.1 1132 CONDO
5325 OAKRIDGE RD $419,900 4 2 1191 DETACHD
3827 BASS LN $589,000 4 2.1 2302 DETACHD
14 OTHELLO ST $649,000 4 2.1 2464 DETACHD
496 10TH ST $850,000 4 2 2854 DETACHD
15985 BONAIRE AVE $900,000 3 3 2910 DETACHD
17390 GRANDVIEW CT $915,000 4 4.2 4502 DETACHD
3940 Canal RD $1,050,000 4 3.1 3838 DETACHD
2643 RIVENDELL RD $1,100,000 5 3.1 3466 DETACHD
12975 SW ELK ROCK RD $1,279,000 5 3.1 4579 DETACHD
13310 FOX RUN $1,330,000 4 3.1 3741 DETACHD
18137 MEADOWLARK LN $1,399,000 4 4.1 5306 DETACHD
612 RIDGEWAY RD $2,798,000 4 4.1 4106 DETACHD

PENDING SALES (March 5-11, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #109 $195,000 2 2 989 CONDO 3
3433 MCNARY PKWY #405 $198,000 2 2.1 1208 CONDO 3
4 TOUCHSTONE #141 $210,000 2 2 979 CONDO 12
5056 FOOTHILLS DR C $332,750 2 2 1252 CONDO 30
825 OAK ST $449,000 3 2 1350 DETACHD 3
5861 BENFIELD CT $449,000 4 2 1557 DETACHD 11
18963 LONGFELLOW AVE $449,750 3 1.1 1239 DETACHD 201
200 BURNHAM RD #211 $450,000 3 2 1862 ATTACHD 6
4912 LOWER DR $475,000 3 2 1557 DETACHD 2
121 3RD ST #121 $499,000 2 2 1065 CONDO 5
40 NOVA CT $519,900 4 2.1 2308 DETACHD 15
19050 PILKINGTON RD $529,900 3 3 1991 DETACHD 250
559 SUNNY HILL DR $577,500 4 2.1 2234 DETACHD 129
5687 BONITA RD $589,900 3 2.1 2048 DETACHD 0
120 CONDOLEA DR $599,900 3 3 2958 ATTACHD 5
1503 PINE ST $600,000 5 3 2792 DETACHD 165
16982 KARA LN $615,000 4 2.1 2408 DETACHD 2
16 EL GRECO ST $639,000 4 2.1 2826 DETACHD 3
16834 CHERRY CREST AVE $649,900 4 2.1 2598 DETACHD 2
13602 PROVINCIAL HILL WAY $675,000 3 2.1 2420 DETACHD 6
3088 ROSEMARY LN $719,000 4 2.1 3233 DETACHD 23
4198 GLACIER LILY ST $724,900 4 3 2806 DETACHD 4
3106 ROSEMARY LN $729,900 3 2.1 2717 DETACHD 65
1691 HIGHLAND DR $799,900 4 2.2 3314 DETACHD 17
1 MOUNTAIN VIEW LN $800,000 4 2.1 3352 DETACHD 19
1130 OAK TER $949,000 4 2.1 3729 DETACHD 0
16860 CORTEZ CT $1,079,900 4 3.1 3322 DETACHD 0
3485 UPPER DR $1,121,000 4 2.1 3332 DETACHD 119
19354 LORNA LN $1,249,900 4 3.1 4169 DETACHD 356
2735 GLEN EAGLES RD $1,379,900 4 3.1 2938 DETACHD 35
14190 SUNDELEAF DR $1,399,000 4 4 3671 DETACHD 0
2230 WEMBLEY PARK RD $1,449,950 5 4.1 4597 DETACHD 216
149 PINE VALLEY RD $1,450,000 4 2.1 3220 DETACHD 6
951 WESTPOINT RD $3,865,000 6 4 4144 DETACHD 520

SOLD (March 5-11, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
45 OSWEGO SMT $196,875 $218,500 1 1 764 CONDO 13
17380 MARJORIE AVE $509,000 $519,000 4 2 1816 DETACHD 5
25 TOUCHSTONE $599,000 $600,000 4 3 2194 DETACHD 2
19 HIDALGO ST $725,000 $712,500 4 3.1 4500 DETACHD 11
17594 SHEPHERDS CT $825,000 $800,000 4 2.1 3001 DETACHD 26
1898 OAK KNOLL CT $850,000 $836,000 4 3 3102 DETACHD 184
625 CARRERA LN $998,000 $890,000 4 3.1 5288 DETACHD 76
4136 CASEY CT $999,000 $999,000 5 3.1 4070 DETACHD 1
2135 RIDGE POINTE DR $1,796,000 $1,580,000 5 4.2 6755 DETACHD 247
1103 LAKE SHORE RD $2,595,000 $2,330,000 3 3 3647 DETACHD 169

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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To Stage or Not to Stage

When I council people who are wanting to sell a house the subject of home staging often comes up. Is it worth the cost? Will it result in a higher sales price? Good questions that I am going to tackle here.

First of all, selling home does require preparing the house. As I have mentioned before, getting it really clean is the first and most important thing that you are going to do. No one wants to buy someone else’s dirt. A dirty house will sell for significantly less than a clean house, in my opinion.

Before staging
The next stage of preparing a house to maximize it’s value is replacing worn surfaces such as carpets and counters, and then painting walls in good neutral colors that optimize the attractiveness of the house. I do believe you get your money back from carpet and paint. I want to be clear that I am not talking about remodeling kitchens and baths. While those are items that do improve the value of a house, I am addressing this blog post to the average person who wants to simply prepare a home for sale. I am not addressing the concept of a big remodel, commonly called a flip, to completely change a house.

Assuming the house is clean and has good carpet and paint, do you need to go one step further and have the house professionally staged with furniture and art work? I think it depends. If your property is in a high-demand price range, and in Lake Oswego that would be $500,000 or less, I just don’t think that home staging is necessary. A house in this price range is going to be given attention by buyers simply because it is affordable.

If your property is priced over $500,000 I do think staging is something that you may want to consider.

If you live in the house I don’t think you necessarily need to pay for the full services of a staging company that would require removal of your possessions and then the rental of new furniture and art. Rather, I think you may want to consider a one time consultation for a few hundred dollars. Actually, this is a service that I often do for my clients at no additional charge. I am not a professional stager, but I do have a sense of what looks good and what does not. The basic premise is remove clutter and over crowded furnishings to make rooms feel as large as possible.

After staging
If the house is completely vacant then putting a few decorative items into it will make if feel more warm and soften the hard edges of blank walls. I have a small supply of staging items that I often use in vacant homes.

If your house is clean and decorated in a tasteful manner I don’t think that you will sell for a greater final price with professional staging services. I do however think that your house will sell more quickly. This means that if your home is at a higher price point, staging can make your house stand out to buyers and can trigger a quicker offer.

Costs associated with home stage run as little as $200 for an hour’s consultation. If you do choose to have the house staged with furnishings and art, you pay by the size of the house and the length of time that the furnishings are rented. An average home runs about $3500 a month and a huge home can be as much as $9000 a month. On average sellers will rent the furnishings for a couple of months.

What it comes down to is the decision to stage or not to stage needs to be made on a case-by-case basis. Please give Linda or myself a call if you would like to get our opinion about your home. We are both familiar with the concept of home staging and we both have companies that do professional staging that we would be happy to refer you to.

Thanks for reading,
Dianne

Photos courtesy of stagetomove.com

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Market Activity Feb 26-March 4, 2018

Last week in Lake Oswego there were 15 new listings that came onto the market, 25 that accepted contracts and went into pending status, and 22 sold/closed sales. I always look for what my take away is when I do this. What I noted this week is how many of the pending and sold properties had been on the market for more than 100 days. 11 of the 25 that went pending, and 8 of the 22 that closed. I think this continues to be a refection of the low inventory. After such extended market time sellers rarely get the asking price, but buyers also hate to haggle over price. With many of these houses selling, I think it indicates the buyers are ready to do some negotiating because the house may be over priced, but it remains a good option with so few houses for sale.

Following is the breakdown for you according to RMLS:

New on the Market (Feb 26-March 4, 2018)

Address Type Price BR Baths Sq Ft
58 Galen St Condo $164,000 1 1 689
3433 McNary Pkwy #405 Condo $198,000 2 2.5 1208
45 Eagle Crest Dr #510 Condo $250,000 1 1 780
16250 Pacific Hwy #76 Condo $360,000 3 2 1745
3912 Carman Dr Condo $399,900 3 2.5 1326
200 Burnham Rd #211 Condo $450,000 3 2 1862
121 3rd St Condo $499,000 2 2 1065
120 Condolea Dr Attached $599,900 3 3 2958
13602 Provincial Hill Way Detached $675,000 3 2.5 2420
14145 Redwood Ct Detached $675,000 4 3 2558
4198 Glacier Lily St Detached $724,900 4 3 2806
17668 Woodhurst Pl Detached $895,000 4 2.5 4281
19320 Lorna Ln Detached $1,199,000 4 3.5 4192
149 Pine Valley Rd Detached $1,450,000 4 2.5 3220
17442 Ridgeview Ln Detached $1,475,000 4 3.5+.5 5063

Pending Sales (Feb 26-March 4, 2018)

Address Type Price BR Baths Sq Ft CDOM
103 Oswego Summit Condo $199,900 2 1.5 1116 42
3433 McNary Pkwy #806 Condo $214,900 2 2.5 1136 203
4 Touchstone #130 Condo $215,000 2 2 984 5
4000 Carman Dr A11 Condo $249,900 2 2 869 18
3802 Botticelli St Condo $280,000 3 2 1224 26
18440 Carnegie Ave Detached $379,900 3 1.5 1182 267
466 5th St Condo $389,000 2 1.5 1092 71
47 Condolea Ct Condo $400,000 2 2.5 2157 1
4470 Golden Ln Condo $459,000 3 3.5 2102 3
1515 Cloverleaf Rd Detached $495,000 3 2.5 2206 7
1895 Greentree Rd Detached $549,500 4 3 2861 139
17790 Overlook Circle Detached $590,000 3 3 3480 22
17360 Hunter Ct Detached $645,900 4 2.5 3272 178
16977 Cherry Crest Dr Detached $649,900 4 2.5 3002 236
2401 Mayors Ln Detached $649,900 4 3 3004 1111
4729 Lakeview Blvd Detached $679,000 3 2.5 2551 75
13171 Sandalwood Ct Detached $685,000 4 2.5 3325 50
4745 Cambridge Ct Attached $699,900 2 2.5 3171 145
17110 Lowenberg Terr Detached $749,000 4 2.5 2732 145
4933 Lakeview Blvd Detached $996,000 4 3 3988 226
4591 Dogwood Dr Detached $1,100,000 4 3.5 4177 6
1144 Bayberry Rd Detached $1,449,000 5 3 3523 6
17104 Cedar Rd Detached $1,599,000 3 3 3345 163
13705 Knaus Rd Detached $1,848,000 4 3.5 5339 625

Sold/Closed (Feb 26-March 4, 2018)

Address Type List Price Sold Price Sq Ft CDOM
86 Kingsgate Rd C202 Condo $175,000 $225,000 924 39
5225 Jean Rd #313 Condo $270,000 $265,000 1,200 155
1776 Bonniebrae Dr Townhouse $331,000 $313,950 1,525 17
15494 Brianne Ct Attached $335,000 $336,500 1250 2
4000 Carman Dr #49 Condo $350,000 $360,000 1004 4
17755 Overlook Ln Detached $529,900 $404,000 3198 131
19241 Longfellow Ave Detached $439,900 $450,000 1188 3
16150 Lake Forest Blvd Detached $524,900 $527,000 2302 4
1601 Woodland Terrace Detached $609,900 $547,000 2594 126
780 Briercliff Ln Detached $599,900 $550,000 2502 97
21 Masaryk St Detached $615,000 $565,000 2773 80
1033 Spruce St Detached $575,000 $576,000 1623 6
17420 Schalit Way Detached $749,000 $675,000 2823 150
5925 Sunbrook Dr Detached $699,000 $690,000 3540 43
5693 Victoria Ct Detached $790,000 $690,000 3540 43
18336 Tamaway Dr Detached $745,000 $745,000 3372 6
803 Clara Ct Detached $769,000 $759,000 2857 54
17421 Brookhurst Dr Detached $779,000 $785,000 3756 10
18440 Delenka Ln Detached $799,900 $785,000 4668 234
13644 Melrose Pl Detached $869,000 $810,000 3564 154
19419 East Side Rd Detached $1,300,000 $1,190,000 4682 134
1316 Cedar St Detached $935,000 $825,000 3140 257

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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All Things Water

Lake Corp~

Learn what’s up with the health of Oswego Lake, water quality, various fees and restrictions overseen by Lake Corp and more:  CLICK HERE

Lake Oswego Water~

Learn about Lake Oswego water delivery, source, system etc:  CLICK HERE

AND HERE!

Rivergrove Water District~

Learn about Rivergrove water delivery, source, system etc:  CLICK HERE

Lake Grove Water District~

Learn about Lake Grove’s water delivery, source, system etc:  CLICK HERE

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Market Activity ~ Feb 19-25, 2018

Last week 15 New properties enter the market in Lake Oswego, 23 moved to Pending status, and 12 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Feb 19-25, 2018)

Address List Price # Beds # Baths Total SF Prop Type
330 CERVANTES CIR $199,900 2 1 832 CONDO
4 TOUCHSTONEb #141 $210,000 2 2 979 CONDO
750 1ST ST C14 $299,900 2 2 1350 CONDO
4053 JEFFERSON PKWY $299,900 2 2.1 1462 CONDO
5051 SW FOOTHILLS DR C $344,900 2 2 991 CONDO
5861 BENFIELD CT $449,000 4 2 1557 DETACHD
16043 KIMBALL ST $469,900 3 2 1433 DETACHD
1515 CLOVERLEAF RD $495,000 3 2.1 2206 DETACHD
1991 GREENTREE RD $639,000 4 3 2655 DETACHD
852 A AVE $768,000 4 2 2362 DETACHD
2325 OAKHURST LN $789,000 5 2.1 3627 DETACHD
808 TIMBERLINE DR $799,000 4 2.1 3276 DETACHD
4591 DOGWOOD DR $1,100,000 4 3.1 4177 DETACHD
1144 BAYBERRY RD $1,449,000 5 3 3523 DETACHD
3919 SOUTHSHORE BLVD $1,749,000 4 3.1 4150 DETACHD

PENDING SALES (Feb 19-25, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
33 OSWEGO SMT / Lower $165,000 1 1 764 CONDO 183
47 EAGLE CREST DR #11 $180,000 2 1 932 CONDO 7
200 BURNHAM RD #208 $235,000 2 2 1320 CONDO 195
668 MCVEY AVE #46 $259,900 2 1 863 CONDO 49
5225 JEAN RD #510 $274,900 2 2 1100 CONDO 2
93 KINGSGATE RD $410,000 3 2.1 1669 DETACHD 427
6030 SHAKESPEARE ST $429,900 3 1 1056 DETACHD 337
18966 LONGFELLOW AVE $449,950 3 2 1330 DETACHD 26
14 AQUINAS ST $499,000 3 3 2531 DETACHD 153
40 NOVA CT $519,900 4 2.1 2308 DETACHD 2
4909 LOWER DR $525,000 4 2.1 1992 DETACHD 5
528 2ND ST $530,000 2 2.1 1568 CONDO 50
18426 SANDPIPER WAY $535,000 4 3 1884 DETACHD 5
1503 PINE ST $600,000 5 3 2792 DETACHD 152
1413 OAK ST $600,000 3 3 2424 DETACHD 23
3665 OLSON CT $675,000 4 3 2517 DETACHD 82
17167 CEDAR RD $749,900 3 2 2673 DETACHD 108
830 LAKE FOREST DR $749,999 4 2 2517 DETACHD 199
127 FURNACE ST #127 $799,000 2 2.1 1927 CONDO 1
17594 SHEPHERDS CT $825,000 4 2.1 3001 DETACHD 26
4101 VIRGINIA WAY $859,900 4 2.2 3231 DETACHD 29
3305 CEDAR CT $1,098,000 4 3.1 3986 DETACHD 11
1103 LAKE SHORE RD $2,595,000 3 3 3647 DETACHD 169

SOLD (Feb 19-25, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
16250 PACIFIC HWY #75 $279,900 $199,900 3 2 1593 CONDO 162
570 S STATE ST / Grnd $239,500 $239,500 2 1 914 CONDO 2
5353 LAKEVIEW BLVD $295,000 $388,000 3 2 2598 DETACHD 13
16855 GASSNER LN $449,900 $432,500 4 2 2258 DETACHD 30
3220 DUNCAN DR $649,000 $635,000 4 2.1 3042 DETACHD 188
13366 AUBURN CT $639,900 $639,900 3 2.1 2492 ATTACHD 0
5545 KILCHURN AVE $660,000 $650,000 3 2 2559 DETACHD 18
3242 GLENMORRIE DR $979,900 $940,000 3 2.1 3146 DETACHD 88
1555 Country Commons $995,000 $971,091 4 2.1 4191 DETACHD 273
4288 SUNSET DR $1,249,900 $1,220,000 5 4.1 3601 DETACHD 135
1972 CHERYL CT $1,999,999 $1,830,000 4 4.1 6952 DETACHD 89
17475 BLUE HERON RD $2,995,000 $2,850,000 5 5.1 5787 DETACHD 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.

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A Foreclosure Auction

In all my years of being a Realtor, and through the Great Recession of 2008-2014, I have never attended a foreclosure auction. That is, until this morning. It was pretty interesting.

I attended because of the circumstances of a friend. This is also a bit of a cautionary tale about the pitfalls of selling by owner and not using a Realtor. Prior to meeting me, this friend sold a condo here in Lake Oswego by owner. At the closing table, literally as she and her husband were signing the documents, it appeared on their settlement statement a charge to the Home Owner’s Association in excess of $20,000 for a special assessment. This should have been found out WAY before getting to the closing table. A good Realtor would have addressed this before even taking the listing. In any case, they were motivated to close on time and so agreed to take a promissory note from the buyer for the amount of the assessment with the agreement that the buyer would make payments to them to pay it back. The buyer failed to make the payments. She also failed to make the payments to her mortgage company and this condo was auctioned at the Clackamas County Courthouse this morning. My friend and I were both curious about the proceeding and so went to the auction.

I had heard it happens on the Courthouse steps. It’s snowing this morning and that may explain why it happened in the foyer of the Courthouse, just inside the front door. It’s so bizarre! People are coming and going and walking right through the proceedings.

We got there early and a small group of about 12 people gathered in wait. At precisely 10am a court clerk wheeled a small cart out into the hall with a sign that read “Sheriff’s Auction of Foreclosure”. She had a stack of 5 small files, one for each property being auctioned. She asked if any one wanted to register. Most of those gathered did. They approached the cart and pulled out cashier’s checks to show that they had certified funds to pay cash on the spot for the properties that they intended to bid on. Then the auction began.

It went really fast. 4 of the 5 properties received no bid and went to the bank who’s court proceeds of foreclosure seemed to also work as their bid on the properties. One house in West Linn was the deal of the day. It sold with one bid for $131,300, not to the bank that held the mortgage, but to a guy in a sweater and blue jeans who is probably an investor.

There was something very old West about the experience.

The guy who got the house in West Linn is taking a big risk. You have to have cash on the spot and you usually don’t get the opportunity to do much in the way of inspections. But at $131,300 the risk is pretty low as an average little house in West Linn, even talking the cheapest part of the market, is probably worth at least $275,000. I think the odds are good that the buyer will make out just fine.

It was an interesting experience that I felt like sharing.

Don’t hesitate to call or comment if you have any questions.
Dianne