Last week brought us 14 new listings, 7 pending sales, and 13 closed sales.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (Oct. 5—Oct.11, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
99 OSWEGO SMT
$144,900
2
0.1
1,116
CONDO
10/7/2009
36 OSWEGO SMT
$179,900
2
2
1,140
CONDO
10/11/2009
550 S STATE ST
$210,000
2
1
920
CONDO
10/7/2009
7 PEACOCK PL
$289,950
3
2.1
1,400
DETACHD
10/8/2009
1284 HIDE A WAY LN
$369,900
4
3
1,931
DETACHD
10/5/2009
461 COUNTRY CLUB RD
$395,000
2
1
1,498
DETACHD
10/5/2009
1640 WORTHINGTON ST
$398,000
4
3
2,394
DETACHD
10/8/2009
119 3RD ST
$429,900
3
2
1,204
CONDO
10/11/2009
6666 CHILDS RD
489900
3
1
2,034
DETACHD
10/5/2009
1575 IVY CT
515000
4
3
2,432
DETACHD
10/10/2009
275 EVERGREEN RD
600000
3
3.1
1,731
ATTACHD
10/6/2009
13888 SHIREVA DR
650000
5
3
3,756
DETACHD
10/7/2009
540 C AVE
849000
3
3.1
3,539
ATTACHD
10/9/2009
13100 BOONES FERRY RD
950000
3
2.1
3,210
DETACHD
10/9/2009
PENDING SALES (Oct. 5 -Oct. 11, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
Close Price
List Price
# BR
# BTHS
Total SF
Prop Type
CDOM
7202 SW MONTAUK CIR
$99,000
2
1
968
CONDO
74
578 S STATE
$149,900
2
1
914
CONDO
343
4105 DOUGLAS WAY
$266,000
7
2.1
2,856
DETACHD
501
3480 DEVONSHIRE DR
$272,500
2
2.1
1,649
ATTACHD
112
4330 COUNTRY WOODS CT
$280,000
3
1
1,200
DETACHD
86
18179 SW PILKINGTON RD
$299,900
3
2
1,300
DETACHD
5
17518 REDFERN AVE
$449,500
3
2
1,831
DETACHD
459
SOLD (Oct 5.-Oct. 11, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# BR
# BTHS
Total SF
Prop Type
CDOM
668 MCVEY AVE
$179,850
$145,000
2
1.1
976
CONDO
1022
15868 PARKER RD
$187,500
$150,000
2
1
780
DETACHD
168
166 OSWEGO SMT
$229,900
$199,000
2
2
1,506
CONDO
180
3290 WEMBLEY PARK RD
$309,900
$282,000
5
3
2,614
DETACHD
29
45 TANGLEWOOD DR
$399,999
$305,550
5
3.1
3,166
DETACHD
165
5037 CENTERWOOD ST
$379,000
$330,000
3
1.1
1,340
DETACHD
98
16953 KARA LN
$409,900
$415,000
4
2.1
2,614
DETACHD
10
17473 REDFERN AVE
$719,950
$575,000
4
2.1
3,052
DETACHD
105
7 CELLINI CT
659000
644000
5
3.1
3,560
DETACHD
10
1670 VILLAGE PARK LN
779000
759500
4
2.1
3,466
DETACHD
53
5250 DAWN AVE
1095900
840000
4
3.1
4,333
DETACHD
836
1755 SOUTHSHORE BLVD
949000
850000
5
3.1
4,757
DETACHD
104
785 7TH ST
1290000
1100000
4
3.1
4,043
DETACHD
1327
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.
The buzz in real estate right now is the $8000 tax credit for first-time homebuyers. While there is talk of the credit being extended, at this point that is an unknown. This puts pressure on anyone thinking that they may want to take advantage of it. In order to benefit, you must close on your purchase by November 30th. Because putting a loan in place now takes about 45 days, and because there is a long holiday weekend for Thanksgiving, a buyer who is going to receive this credit needs to make an offer on a home in the next week or so.
This has got me reflecting on what sort of a home I would be interested in if I were in a position to take advantage of this opportunity. After going through the current inventory in Lake Oswego, here are 4 properties that I believe are great homes that would be ideal for a first-time buyer.
113 Kingsgate Rd Priced at $275,000, this house has 3 bedrooms, 2 full baths, and a 2-car attached garage. It’s located on the South slope of Mountain Park, so it is really convenient to the Kruse Way corridor, I-5, and Hwy 217. Oak Creek Elementary School is just down the street, and PCC Sylvania Campus is close by. While the lot is smaller (about 4000 square feet) it is extremely private. So you can have the easy care of a small yard, but the benefit of privacy. That’s a tough combination to find. Probably the most striking feature of the house (besides the master on the main, the hardwood floors, the wet bar, and the gas fireplace) is the 2-story vaulted ceiling. Architecturally, this house is wonderful and unique. This is not a cookie-cutter house. When you walk in the door, you will say “Wow”.
4447 Golden Lane Priced at $229,000, this is an end-unit condo with 2 bedrooms, 2 full baths, and a 2-car, attached garage. It has expansive South facing windows so that the interior is light and bright even on those short, winter days. The kitchen has new granite counters and there are new laminate floors. Like the property above, this home is on the South slope of Mountain Park. Living in this location, you benefit from the Mountain Park recreational facilities. There are 15 miles of walking trails, tennis courts, a swimming pool and a weight room. Living in a condominium means that you don’t have to take care of a yard or worry about maintenance of the exterior. It’s ideal for someone with a busy job or who likes to travel a lot.
15139 Tree Rd Priced at $298,900, this house has 3 bedrooms , 2 full baths, and a 2-car garage. It’s in a great location at the end of a dead-end street. There are hardwood floors throughout. It has a formal living room, but what I like is the openness of the greatroom for the kitchen, dining room, and family room. There is a masonry fireplace made with used bricks that is warm and inviting. I like to point out to anyone buying a one level home that the demand for these homes will only increase. As the population ages, the need for homes that appeal to older people is going to get bigger. So I do believe that one-level homes make great investments.
18690 Don Lee Way Priced at $299,000, this house has 3 bedrooms, 2 baths, and a 2-car garage. It’s on a lot that is nearly a quarter of an acre and just spectacular. It’s in great condition with a new roof, new siding and windows, and a new furnace. There are hardwood floors in dining room and the living room, and there are tile floors in the kitchen and in the entry. The kitchen and both bathrooms have been updated. The fireplace has a very classy looking slate surround and built-ins on both sides.
I think what is striking about all of these houses is what good condition they are all in. Under $300,000 in Lake Oswego is the lower end of the pricing spectrum. You would normally think that this would also mean that you have to compromise by buying a house that perhaps needs some updating or some work to improve it. That is not the case here. You can buy not only an affordable home, but a home in great condition. Add to that the fact that you can then get an $8000 tax credit from the Federal government and you are talking a perfect storm of opportunity.
I hope you have enjoyed learning about these properties. If you would like more information, or if you’d like to make an appointment to view any of these properties, please contact Linda or myself and we would be happy to be of help to you.
There were 34 properties classified in RMLS as “New” on the market last week, but only 12 of them truly are, and are listed as such for you below. We had 14 properties go to “Pending” status, and 21 “Sold”!
Ah… the beauty of the Portland area in the Fall… just the time for a new start in a new home. Lake Oswego is so gorgeous once all the leaves begin to turn. With some rain last week, we are again back to sunshine and seasonably pleasant temperatures around 69/70. Nights are getting chilly though… and there is that beautiful smell in the air. So fresh. We’ll get pictures up here for you once the leaves turn. For now, enjoy your property search/sale adventures, & don’t forget to email or call Dianne or myself if you need a Realtor and are not currently working with one. We would love to meet you.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (Sept. 28—Oct.5, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# Beds
# Baths
Total SF
Prop Type
List Date
3433 MCNARY PKWY
$162,750
2
2.1
1,208
CONDO
10/2/2009
3826 BOTTICELLI ST
$210,000
2
2
1,055
ATTACHD
10/2/2009
18179 SW PILKINGTON RD
$299,900
3
2
1,300
DETACHD
10/2/2009
15430 PARTRIDGE DR
$379,000
3
2.1
2,207
DETACHD
10/3/2009
2245 GLEN HAVEN RD
$379,000
3
1.1
1,276
DETACHD
10/1/2009
980 C AVE
$399,500
3
2
1,312
DETACHD
9/30/2009
1457 BOCA RATAN DR
$445,000
3
2
1,568
DETACHD
9/28/2009
1430 CHERRY CREST DR
$525,000
4
3
3,302
DETACHD
10/2/2009
827 8TH ST
$898,000
5
3.1
3,852
DETACHD
9/29/2009
507 ASH ST
$988,000
3
3
3,000
DETACHD
9/28/2009
2479 PALISADES CREST DR
$1,495,000
4
3.1
6,640
DETACHD
9/28/2009
2201 HAZEL RD
$1,550,000
4
3.1
5,446
DETACHD
10/1/2009
PENDING SALES (Sept 28 -Oct. 5, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
7202 SW MONTAUK CIR
$99,000
2
1
968
CONDO
74
3433 MCNARY PKWY
$114,900
2
2.1
1,208
CONDO
142
4000 CARMAN DR
$125,900
1
1
767
CONDO
38
141 OSWEGO SMT
$169,900
2
2
1,140
CONDO
77
16573 BONAIRE AVE
$274,900
4
2
1,560
DETACHD
43
4662 CARMAN DR
$289,900
5
2
1,754
DETACHD
13
16250 Pacific Hwy (Hwy 43)
$319,850
2
2
1,200
CONDO
1200
5554 ROYAL OAKS DR
$399,885
3
2
1,861
DETACHD
2
2161 CREST DR
$407,500
4
2.1
2,648
DETACHD
139
1032 LAUREL ST
$424,000
4
2
2,384
DETACHD
86
14666 UPLANDS DR
$499,000
3
2.1
2,568
DETACHD
114
95 D AVE
$585,000
4
2
1,809
DETACHD
83
353 D AVE
$725,000
4
2
3,228
DETACHD
749
5250 DAWN AVE
$855,000
4
3.1
4,333
DETACHD
836
SOLD (Sept 28-Oct. 5, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
45 EAGLE CREST DR
$139,900
$110,000
1
1
768
CONDO
125
3688 SPRING LN
$179,900
$164,500
2
2
1,120
CONDO
81
4 TOUCHSTONE
$179,500
$170,000
2
2
984
CONDO
19
5064 FOOTHILLS DR
$299,900
$262,000
2
2
1,308
CONDO
63
1432 LAUREL ST
$275,000
$265,000
2
1
920
DETACHD
85
17100 BRYANT RD
$278,900
$310,000
3
3
2,032
DETACHD
18
605 COUNTRY CLUB RD
$399,900
$317,500
4
2.1
3,422
DETACHD
163
13899 MAJESTIC CT
$439,000
$360,000
3
2
2,357
DETACHD
86
17760 SW CARDINAL CT
$404,900
$375,000
3
2.1
2,147
DETACHD
60
17221 ROBB PL
$427,500
$380,000
3
2
1,812
DETACHD
12
14431 ORCHARD SPRINGS RD
$439,900
$385,000
4
2.1
1,960
DETACHD
212
3560 TEMPEST DR
$449,900
$437,875
3
2.1
2,847
DETACHD
14
4722 HASTINGS PL
$489,900
$479,000
4
2.1
2,151
DETACHD
505
6110 CHILDS RD
$550,000
$482,000
4
3
3,258
DETACHD
138
14412 MEADOW GRASS ST
$500,000
$490,000
4
2.1
3,563
DETACHD
412
17473 REDFERN AVE
$719,950
$575,000
4
2.1
3,052
DETACHD
105
5421 Bay Creek DR
$649,500
$580,000
4
2.1
3,241
DETACHD
138
17386 BLUE HERON RD
$679,000
$650,000
4
3.1
4,063
DETACHD
796
18051 KELOK RD
$899,000
$799,000
5
3.1
3,670
DETACHD
401
17878 HILLSIDE DR
$895,000
$855,000
5
3
3,462
DETACHD
34
301 IRON MOUNTAIN BLVD
$1,150,000
$950,000
4
3.2
3,004
DETACHD
125
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.
Gorgeous day today (Sat)… Gorgeous day tomorrow!
Is it Fall? Yes. Could there be a few raindrops in between the blinding sunshine? Yes! Is it fun to take in the change of season? Absolutely! (sorry for all the exclamations… against all my better judgement that says “winter is coming…” I really enjoy Fall : )
We have 29 properties on tour in Lake Oswego tomorrow according to RMLS. Get out & enjoy!
Tax Credit ~ The First-Time Home-Buyers’ $8,000. Tax Credit is, of course, the talk of the town (the nation, actually). It is acknowledged that it is and has been helpful in spurring the real estate market (activity in related price ranges is steady if not occasionally feverish… especially lately!) There is much talk about extending the deadline from the current November 30th date to an as-yet-undetermined date in 2010. While it is generally agreed that the housing market is turning the corner, and a large part of this growth is related to the tax credit, there is also concern being expressed about dispersing more government money in light of recent history. So… nothing is decided as of now. There are talks about plans to:
Extend it to all home-buyers,
Not extend it at all,
Increase it to $15,000.,
Extend it and keep the terms the same,
Offer it only to service members who have been out of the country,
Etc.
The important thing to remember if you are a first-time home-buyer, or care about one, is that right now there is an opportunity to get an $8,000. tax credit. That means real money coming to you when you file for 2009. We do NOT know how the debate will play out regarding extending or not extending it… AND right now there is still time to take advantage of it, but you must act now.
Oil Tanks (Reminder & Update) ~ The standards for levels of contaminants are under review. In particular, ethyl benzene and naphthalene have been changed to a “carcinogenic” classification, and therefore cleanup requirements are also changing. There is now concern over the possibility of fumes potentially penetrating a home from underground & causing harm. Remember, if you have an oil tank underground on your property that has not been decommissioned, or if you are a Buyer considering a property with one: Underground oil tanks have a life of approximately 40 years. After that, they leak… and what they leak is toxic. Homeowners can be held liable for damage to soil from leaking tanks, and therefore, proper soil testing and decommissioning through a DEQ-certified environmental service is the wise choice. If you are a Seller in this situation, I would highly recommend just doing this now and getting it out of the way. It makes your home more attractive to potential Buyers, removes an objection, and protects you and the environment at the same time.
Loans ~ There are truly all kinds of loans out there right now for all kinds of Buyers. FHA loans are a current favorite, and the FHA 203 (b) is a little easier to qualify for than most conventional loans these days. There are also “Flex” loans for teachers (administrators & school nurses can also apply!), police, and firefighters. Other than the FHA loan I mentioned, you usually want a credit score of 640 or higher, and for all of them you’ll need 3 to 3.5% down. Talk to your favorite mortgage broker for more information, or give me a call and I can refer you to some great resources.
Homes on Slopes ~ Some precautions, in light of current information gained from recent slides in Portland, Lake Oswego and surrounding areas are worth noting:
At no point should drain water be discharged onto slopes in an uncontrolled manner. Investigate energy dissipation devices to prevent erosion at discharge points.
Make sure that any fill used on the slope is “engineer-fill”. Not all fill is able to handle the specialized drainage requirements of sloped properties.
Make sure gutters remain clear in order to prevent over-saturation in areas not able to handle runoff.
Keep drainage ditches or berms clear during the rainy season so that they do not direct water into areas where erosion & damage may occur.
Keep drain inlets, outlets and weep holes at foundation, retaining walls, driveways etc clean at all times. Remove debris to prevent clogging.
Notice any wet spots on the property. This may indicate either natural seepage, or leaking water or sewer line problems. Seek professional advice immediately.
Regularly check irrigation systems. Drip systems are preferred on hillsides.
Make sure roof drainage is not connected to a subsurface disposal system unless it has been approved by a geotechnical engineer.
Keep water from accumulating next to foundations, retaining walls or basements.
Guard against over-saturation on the hillside, as once this has occurred, damage can result very quickly and without warning.
Sunday is going to be a great day to visit some open houses. We are enjoying a wonderful Indian Summer so the temperature will be pretty much perfect with plenty of sunshine and 28 houses being held open for your viewing pleasure.
In particular I want to point out a progressive open house tour being held in Southwood Park. 5 homes are being held open within just a couple of blocks of each other, including my listing at 13638 SW 62nd. Remember that this neighborhood is in unincorporated Clackamas County (which means low taxes), but has Lake Oswego Schools (great for kids and re-sale values). My listing was price reduced this last week from $319,900 to $299,900. That is for a house with 4 bedrooms, 3 full baths, two family rooms, and a 21 x 11 utility room. It needs some cosmetic updating, but has a 50 year metal roof, new windows, and new paint inside and out. If you visit all 5 houses on the tour, your will receive a $5 Starbuck’s gift card. Watch for hellium balloons and lots of open house signs. You’ll find my signs on Lesser Dr to follow them in to the property.
Address
List Price
# BR
# BTHS
Total SF
Prop Type
Open
1547 BOCA RATAN DR
$219,900
2
1.1
1,008
ATTACHD
1 to 3
13363 SW 64TH AVE
$264,900
3
1.1
1,120
DETACHD
1 to 4
13561 SW 62ND AVE
269000 – 289000
3
1.1
1,594
DETACHD
1 to 4
13638 SW 62ND AVE
$299,900
4
3
2,268
DETACHD
1 to 4
17752 SCHALIT WAY
$329,900
3
2
1,463
DETACHD
2 to 4
13448 SW 61ST AVE
$335,000
3
3
1,911
DETACHD
1 to 4
13224 SW 63RD AVE
$338,000
4
2.1
1,694
DETACHD
1 to 4
9 DA VINCI ST
$399,900
3
2
1,768
DETACHD
12 to 2
14371 SHERBROOK PL
$495,000
3
2.1
2,550
DETACHD
2 to 4
3254 DUNCAN DR
$500,000
4
3.1
3,997
DETACHD
2 to 4
2525 DELLWOOD DR
$519,000
5
3
2,836
DETACHD
12 to 2
4018 COHO LN
$539,000
3
2
2,489
DETACHD
1 to 4
11 MORNINGVIEW CIR
$547,000
3
2.1
2,921
DETACHD
1 to 3
14867 TWIN FIR CT
$579,000
6
3.1
3,641
DETACHD
2 to 4
2545 DELLWOOD DR
$599,000
5
3.1
3,843
DETACHD
2:30 to 4:30
1040 UPPER DEVON LN
$649,000
3
2.1
2,640
DETACHD
2 to 5
2044 RIDGEWOOD RD
$799,000
4
2
2,519
DETACHD
2 to 4
1809 HEADLEE LN
$1,125,000
2
2.1
3,836
DETACHD
1 to 3
18143 SIENA DR
$1,197,000
5
4.1
4,152
DETACHD
1 to 3
18246 BELLA TERRA DR
$1,294,000
4
3.1
4,052
DETACHD
1 to 3
17464 RIDGEVIEW LN
$1,298,950
4
3.1
4,407
DETACHD
2 to 4
622 OAK MEADOW DR
$1,325,000
4
3.1
4,171
DETACHD
2 to 4
664 OAK MEADOW DR
$1,355,000
4
3.1
4,198
DETACHD
2 to 4
18110 Siena DR
$1,394,000
4
3.1
4,311
DETACHD
1 to 3
657 OAK MEADOW DR.
$1,395,000
4
3.1
4,371
DETACHD
2 to 4
17364 RIDGEVIEW CT
$1,425,000
4
3.1
4,436
DETACHD
2 to 4
2572 GLEN EAGLES PL
$2,395,000
5
4.2
6,490
DETACHD
12 to 3
13961 KNAUS RD
$2,450,000
4
4.2
6,614
DETACHD
3 to 4:30
Enjoy the day and please take advantage of the progressive open house tour in Southwood Park.
As with our entire society, the real estate community is rapidly changing due to the expanding availability of computer technology and the Internet. I have found myself musing on this subject because of a telephone call I got yesterday. A gentleman wanted information about a house that I have listed for sale. As I always do when I speak to someone about real estate, I asked him if he was already working with a Realtor. Not that it will make any difference in my answering of his questions, I just want to make sure that he has adequate help and I also don’t want to step onto the toes of any other Realtors. His response to me was that he had 3 different agents helping him, but that he didn’t think any of them were really working for him. This was because all 3 had set up e-mail programs that sent him listing information, but that none of them made the effort to speak to him in person. Hmmmm……
I can see, as a professional, how easy it would be to fall into this pattern. The Internet is absolutely amazing. Our local RMLS was the first multiple listing service in the United States to go fully functional as a website. It is constantly upgrading with more and more services. One feature it has is a client profile program. This allows Realtors to set up a client profile that automatically searches listings to hunt for homes that fit any particular clients criteria. It then sends an e-mail to that agent whenever a match is found. At this point, it will even send that match via e-mail to the client as well, if that function is added by the Realtor when the profile is set up. It is a simple process to set up and convenient to both the Realtor and the client. And this is where I think things get gray. Where is the human contact?
I am as guilty as the rest. I love technology. I am on facebook, I tweet, as you can see, I blog. But I have also been in this business since back in the days when every two weeks we got a printed book the size of your typical phone book. It had all of the local listings, about 16 to a page, each with a little box with facts and one black and white photo. We would thumb through the book to find houses that our buyers might like. Then we’d load our buyers in our cars and drive all over town to see houses. Looking back, I think it must have been a huge pain in the you know what for buyers. All that time to see houses that someone else thought you might like. It worked because it was the only method available. Today, my clients can look at 16 color photos of each house, with a map link to preview location, and perhaps even a virtual tour, before they ever get into my car to go see the interior. Today my clients tell me what they want to see and not the other way around. It saves time, gas, and frustration. It is soooooo much better.
I think the weakness in our current system is that we may loose touch with the human element. Ultimately a client needs someone who understands their concerns and who listens to their needs. You are trying to buy a house, but your are also needing someone who manages your concerns as you negotiate the sale, deal with the home inspection, and, especially today, help you arrange financing. You need to build a relationship with your Realtor as you look for a home so that you know that your Realtor really is working on your behalf. The human element is perhaps more important today than ever.
There is a balance that needs to be found. Just as a Realtor who doesn’t have technological savvy will fall behind in the industry, I think a Realtor who relies too heavily on the techno factor and looses touch with the human needs of their clients will also fall behind. And, call me old fashioned, there is still nothing quite as nice in business as a hand-written thank you that comes in the mail.
Linda and I are both commited to working within that balance. We pride ourselves on being “up” on technology, and we both are commited to listening to your needs and helping to make your real estate dealings a successful experience for you as an individual. I think that we can both honestly say that we start out in our dealings working with clients, but those clients end up becoming friends. It is my favorite part of my job.
It’s really interesting… tis the season for “freshening” listings I guess… There were 28 properties listed as New this last week & only 13 of them actually were. It bears noting that Dianne and I go through the properties and remove the ones that are not actually new listings so that our readers can really see what properties have just come on market. I personally make an exception for properties that have been off the market for 30 or more days… It seems to me as though if someone has taken their property off the market for that time, they have probably been working on the property & changing something about it, so I go ahead in those cases & list them as New again. I also noticed that many of the “freshened” listings (not in the table below) have changed Realtors. Although it is then technically a new listing, it is not a new property on the market for our readers’ purposes. It is worth noting that the property is what Buyers are looking for… not the Realtor, and if it is listed in the RMLS and the Realtor has been doing a good job of exposing it online, following up on showings etc., it is (in my opinion) a mistaken notion that switching Realtors is going to help sell the property. It is more likely that the things the Seller has control over, i.e. price and the appearance of the property, will make the difference. The listing that was on the market yesterday with one Realtor and back on today with another is pretty much the same property, and Buyers know that. Just a few musings for what they’re worth : )
Last week we saw, as mentioned, 13 New properties come on market. 16 went to Pending status, and 5 Sold.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (Sept. 14—20, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# Beds
# Baths
Total SF
Prop Type
List Date
12 CERVANTES CIR
$105,000
2
1.1
912
CONDO
9/15/2009
668 MCVEY AVE
$239,900
3
1.1
985
CONDO
9/17/2009
136 TOUCHSTONE TER
$350,000
3
2.1
1,996
DETACHD
9/17/2009
114 TOUCHSTONE TER
$389,000
3
2.1
2,080
ATTACHD
9/14/2009
15547 PARTRIDGE DR
$389,900
3
3
2,266
DETACHD
9/14/2009
16901 LAKERIDGE DR
$435,000
3
3
2,080
DETACHD
9/17/2009
5717 BONITA RD
$439,000
5
2
2,572
DETACHD
9/18/2009
4311 ORCHARD WAY
$564,900
4
2.1
3,082
DETACHD
9/14/2009
19101 INDIAN CREEK AVE
$619,500
2
2.1
2,794
DETACHD
9/15/2009
1809 HEADLEE LN
$1,125,000
2
2.1
3,836
DETACHD
9/14/2009
753 LAKESHORE RD
$1,385,000
3
3.1
2,562
DETACHD
9/16/2009
13 NANSEN SMT
$1,500,000
4
4.1
4,625
DETACHD
9/19/2009
17281 KELOK RD
$1,550,000
4
3
2,682
DETACHD
9/18/2009
PENDING SALES (Sept 14 -20, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
10 CONDOLEA DR
$240,000
2
2
1,312
ATTACHD
398
19138 PILKINGTON deep flag RD
254500 – 259000
3
1.1
1,099
DETACHD
133
5 PEACOCK PL
$299,950
4
2.1
1,760
DETACHD
169
16964 SW GASSNER LN
$335,000
3
3
2,208
DETACHD
100
5037 CENTERWOOD ST
$349,000
3
1.1
1,340
DETACHD
98
19 TOUCHSTONE
$399,000
4
3
2,789
DETACHD
107
31 DA VINCI ST
$399,900
4
2.1
2,232
DETACHD
34
41 HILLSHIRE DR
$427,000
4
3
2,670
DETACHD
437
3 CELLINI CT
$429,000
4
2.1
2,531
DETACHD
240
1660 CAMPUS WAY
$475,000
4
3
2,042
DETACHD
4
2330 DELLWOOD DR
$495,000
5
3.1
3,468
DETACHD
4
4691 CHELSEA LN
$564,900
4
2.1
3,102
DETACHD
585
559 2ND ST
$600,000
2
2
1,529
CONDO
7 CELLINI CT
$659,000
5
3.1
3,560
DETACHD
10
570 7TH ST
$665,000
3
2.1
2,528
DETACHD
265
2600 DELLWOOD DR
$699,900
4
3
3,690
DETACHD
486
SOLD (Sept 14-20, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
5318 RED LEAF ST
$309,950
$319,950
3
2
1,460
DETACHD
27
799 COUNTRY CLUB RD
$700,000
$500,000
6
2.1
4,410
DETACHD
784
4387 LORDS LN
$875,000
$650,000
3
2.1
3,040
DETACHD
544
1933 SUMMIT DR
$1,675,000
$1,550,000
5
4.1
4,925
DETACHD
26
4313 WESTBAY RD
$2,775,000
$2,100,000
4
3.1
4,000
DETACHD
193
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.
This Sunday we have 15 Open Houses in Lake Oswego according to RMLS. Two of them are under $300,000. if that interests any of you first time home buyers out to find a great home & meet the $8,000. tax credit timeline. As always, give Dianne or me a call if you need some assistance & are not already working with a Realtor. Enjoy!
113 Kingsgate Rd Priced at $275,000, this house has 3 bedrooms, 2 full baths, and a 2-car attached garage. It’s located on the South slope of Mountain Park, so it is really convenient to the Kruse Way corridor, I-5, and Hwy 217. Oak Creek Elementary School is just down the street, and PCC Sylvania Campus is close by. While the lot is smaller (about 4000 square feet) it is extremely private. So you can have the easy care of a small yard, but the benefit of privacy. That’s a tough combination to find. Probably the most striking feature of the house (besides the master on the main, the hardwood floors, the wet bar, and the gas fireplace) is the 2-story vaulted ceiling. Architecturally, this house is wonderful and unique. This is not a cookie-cutter house. When you walk in the door, you will say “Wow”.
4447 Golden Lane Priced at $229,000, this is an end-unit condo with 2 bedrooms, 2 full baths, and a 2-car, attached garage. It has expansive South facing windows so that the interior is light and bright even on those short, winter days. The kitchen has new granite counters and there are new laminate floors. Like the property above, this home is on the South slope of Mountain Park. Living in this location, you benefit from the Mountain Park recreational facilities. There are 15 miles of walking trails, tennis courts, a swimming pool and a weight room. Living in a condominium means that you don’t have to take care of a yard or worry about maintenance of the exterior. It’s ideal for someone with a busy job or who likes to travel a lot.
15139 Tree Rd Priced at $298,900, this house has 3 bedrooms , 2 full baths, and a 2-car garage. It’s in a great location at the end of a dead-end street. There are hardwood floors throughout. It has a formal living room, but what I like is the openness of the greatroom for the kitchen, dining room, and family room. There is a masonry fireplace made with used bricks that is warm and inviting. I like to point out to anyone buying a one level home that the demand for these homes will only increase. As the population ages, the need for homes that appeal to older people is going to get bigger. So I do believe that one-level homes make great investments.
I think what is striking about all of these houses is what good condition they are all in. Under $300,000 in Lake Oswego is the lower end of the pricing spectrum. You would normally think that this would also mean that you have to compromise by buying a house that perhaps needs some updating or some work to improve it. That is not the case here. You can buy not only an affordable home, but a home in great condition. Add to that the fact that you can then get an $8000 tax credit from the Federal government and you are talking a perfect storm of opportunity.
In particular I want to point out a progressive open house tour being held in Southwood Park. 5 homes are being held open within just a couple of blocks of each other, including my listing at 13638 SW 62nd. Remember that this neighborhood is in unincorporated Clackamas County (which means low taxes), but has Lake Oswego Schools (great for kids and re-sale values). My listing was price reduced this last week from $319,900 to $299,900. That is for a house with 4 bedrooms, 3 full baths, two family rooms, and a 21 x 11 utility room. It needs some cosmetic updating, but has a 50 year metal roof, new windows, and new paint inside and out. If you visit all 5 houses on the tour, your will receive a $5 Starbuck’s gift card. Watch for hellium balloons and lots of open house signs. You’ll find my signs on Lesser Dr to follow them in to the property.
As with our entire society, the real estate community is rapidly changing due to the expanding availability of computer technology and the Internet. I have found myself musing on this subject because of a telephone call I got yesterday. A gentleman wanted information about a house that I have listed for sale. As I always do when I speak to someone about real estate, I asked him if he was already working with a Realtor. Not that it will make any difference in my answering of his questions, I just want to make sure that he has adequate help and I also don’t want to step onto the toes of any other Realtors. His response to me was that he had 3 different agents helping him, but that he didn’t think any of them were really working for him. This was because all 3 had set up e-mail programs that sent him listing information, but that none of them made the effort to speak to him in person. Hmmmm……