Tag: real estate

Posted on

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!

Posted on

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

Posted on

Lake Oswego Open Houses ~ Sunday, 8/29/10

There are 22 Open Houses in Lake Oswego Sunday according to RMLS.  Enjoy! :

Address L/Price # Bdrms # Bath Total SF Style Time
1400 BONNIEBRAE DR $169,500 2 1 864 TOWNHSE 1-3PM
446 5TH ST $327,000 2 1.1 1092 TOWNHSE 1-3PM
466 5TH ST $329,900 2 1.1 1092 TOWNHSE 1-3PM
138 KINGSGATE RD $379,900 3 2.1 1600 DETACHD 1-3PM
5717 BONITA RD $380,000 4 2 2572 DETACHD 12-3PM
32 CHURCHILL DOWNS $399,900 4 2.1 3016 DETACHD 2-4PM
16909 CRESTVIEW DR $474,900 4 3 2553 DETACHD 2-4PM
920 EVERGREEN RD $499,500 3 2 1622 DETACHD 1-4PM
12 SCARBOROUGH DR $499,900 4 2.1 2892 DETACHD 1-4PM
19415 SW DOGWOOD CT $519,900 5 3 3517 DETACHD 1-4PM
1625 BEDFORD CT $549,900 2 2.1 2460 DETACHD 2-4PM
19245 SW MEGLY CT $579,900 5 3 3490 DETACHD 1-5PM
18212 WESTVIEW DR $598,900 4 2.1 3464 DETACHD 2:30-4:300PM
1277 HIDE A WAY LN $599,900 5 3 3120 DETACHD 12-3PM
1785 PALISADES TERRACE DR $749,900 5 4.1 5052 DETACHD 1-3PM
3030 WESTVIEW CT $795,000 4 2.1 3415 DETACHD 2-4PM
3771 LAKE GROVE AVE $825,000 6 4 4228 DETACHD 1-2:45PM
18209 SIENA DR $1,097,000 5 3.1 3839 DETACHD 1-3PM
18246 BELLA TERRA DR $1,194,000 4 3.1 4196 DETACHD 1-3PM
2569 GLEN EAGLES PL $1,199,000 5 4.2 4591 DETACHD 1-3PM
1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 1-3PM
18024 SKYLAND CIR $1,665,000 4 3.2 4131 DETACHD 1-3PM
Posted on

A Market Snapshot

This morning’s Oregonian had a cover story on the decline of the housing market (such a nice story to wake up to). I thought it might be helpful if I localized the information and provided you with some stats.

Is our glass half empty? Or is our glass half full? Today I am comparing the inventory of various price ranges including what is currently for sale, what has sold in the last 6 months, and, in the case of detached homes, how that compares to the same time period a year ago:

Detached Houses
Price Range For Sale Now Sold in last 6 months Months of Inventory Sold in same 6 months of 2009
$100,000-$200,000 4 4 6 2
$201,000-$300,000 36 42 5 21
$301,000-$400,000 83 68 7 49
$401,000-$500,000 76 47 9 30
$501,000-$600,000 82 47 10 24
$601,000-$700,000 52 26 12 14
$701,000-$800,000 57 16 22 17
$801,000-$900,000 34 11 19 8
$901,000-$1,000,000 19 8 15 9
$1,001,000-$1,500,000 54 11 30 17
$1,501,000-$2,000,000 25 0 Indefinite 4
$2,001,000-$2,500,000 7 1 44 2
$2,501,000-$3,000,000 4 1 25 1
$3,001,000-$15,000,000 11 1 68 0
Condos
$50,000-$100,000 20 11 2
$101,000-$200,000 63 39 9
$201,000-$300,000 33 21 9
$301,000-$400,000 10 7 6
$401,000-$500,000 16 5 19
$501,000-$600,000 9 1 56
$601,000-$700,000 7 4 11
$701,000-$800,000 0 0 –
$801,000-$900,000 3 0 Indefinite
$901,000-$1,000,000 2 0 Indefinite
$1,001,000-$2,000,000 1 0 Indefinite
$2,001,000-$3,000,000 1 0 Indefinite

Observations on new construction:
As of today there are 42 listings for new homes that are listed in price from $449,900 to $3,700,000. In the last six months 11 new homes have been sold, the most expensive of which was for $965,000. There are currently 10 new homes listed for sale that are priced over $1,000,000. That is a huge reduction from 3 years ago when I recall counting them and finding over 100 homes that were new construction for sale priced at over $1,000,000. The builders are learning to work with this economy and are building their spec homes in much more affordable price ranges. There are a couple of new subdivisions in LO right now with home prices in the high 400’s and low 500’s.

My Observations
I think the most interesting bit of information I see in this is that the sales have actually increased substantially, although at lower prices. In the February to August time frame 199 houses sold in 2009 versus 283 that sold in 2010. That is a nearly 50% increase. Yes, some credit can be given to the tax credit that expired in June, but I think that there is another factor at play. As prices have come down, buyers who assumed that they previously could not afford Lake Oswego are now finding opportunities in homes that they can afford. The decline in prices is perhaps a boon to the LO housing market in general.

Another observation is that the condo market is really soft as the price goes up. Condos appeal to people seeking an ease of living with Home Owner’s Associations taking care of the yards and exterior maintenance, but another part of the condo market is people who buy into condos because they have been priced out of detached homes that they can afford. As detached home prices have come down, this has given buyers the opportunity to purchase a single family residence as opposed to a condo in the same price range. I see the condos that are currently for sale in the $700,000+ pricing and wonder just how many years it will be before they get an offer.

Highest and Lowest
The least expensive detached home currently for sale in LO is 912 square feet, built in 1963, with 3 bedrooms and 1 bath. It’s priced at $180,000. The most expensive home is still the 5 acre, private island in Oswego Lake. With 13,500 square feet, 4 bedrooms, 6 full and 2 half baths, it was built in 1930 and is priced at $15,000,000.

I hope this information is helpful to you. Please let me know if you have any observations of your own.
Enjoy the day!
Dianne

Photo courtesy of bing.com

Posted on

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

Posted on

Lake Oswego Open Houses 8/22/10

I can’t believe I’m saying this but the cooler weather feels great after weeks of 90 to 100 degrees! Nice weather for browsing Open Houses too.

There are 26 homes held Open Sunday according to RMLS.

Price Ranges:

Three are under $300,000.

Six are between $300,000 and $500,000.

Seven are between $500,000 and $700,000.

Four more are from $700,000 to a million.

Five are at a million or over (c’mon… I’m calling $999,000 a million : )

Somewhere in this bunch may be the home you’ve been looking for…  and there’s still time before the start of the school year!

Drop by my Open House on Lamont Way and say hello from 1:00 till 3:30.  I’d love to meet you.

Address L/Price # Beds # Baths Total SF Style Time
29 GREENRIDGE CT $249,000 3 2 1596 CONDO 1-4PM
4201 COLLINS WAY $279,000 3 2 1230 DETACHD 1-3PM
2245 GLEN HAVEN RD $299,900 3 1.1 1276 DETACHD 12-2PM
3269 PHYLLIS CT $329,900 3 1.2 1711 DETACHD 1:30-3:30PM
4840 LAMONT WAY $335,000 3 2 1793 DETACHD 1-3:30PM
10 PREAKNESS CT $359,900 4 2.1 2270 TOWNHM 1-3PM
138 KINGSGATE RD $379,900 3 2.1 1600 DETACHD 12-2PM
1462 GREENTREE CIR $389,900 4 2.1 2507 DETACHD 1-4PM
2 BARTOK PL $395,000 4 2.1 2332 DETACHD 1-4PM
19415 SW DOGWOOD CT $519,900 5 3 3517 DETACHD 1-5PM
19319 SW DOGWOOD CT $519,900 4 2.1 3105 DETACHD 1-5PM
19245 SW MEGLY CT $579,900 5 3 3490 DETACHD 1-5PM
13644 TWIN CREEK LN $589,899 4 2.1 2758 DETACHD 1-3PM
1278 HIDE A WAY LN $599,000 4 2.1 2700 DETACHD 2-4PM
3943 TEMPEST DR $639,000 4 2.1 3714 DETACHD 1-3PM
5511 FIELDSTONE CT $695,000 4 2.1 3032 DETACHD 1-3PM
14136 HEATHROW LN $699,000 4 2.1 2955 DETACHD 12-2PM
5533 FIELDSTONE CT $715,000 4 2.1 3112 DETACHD 1-3PM
2469 MARYLHAVEN PL $794,500 4 3.2 5582 DETACHD 12-3PM
330 NORTHSHORE RD $799,000 4 3 3324 DETACHD 1-4PM
4158 CASEY CT $799,000 4 2.1 3385 DETACHD 1-4PM
16686 MAPLE CIR $999,000 3 3.2 3311 DETACHD 12-3PM
18209 SIENA DR $1,097,000 5 3.1 3839 DETACHD 1-3PM
18246 BELLA TERRA DR $1,194,000 4 3.1 4196 DETACHD 1-3PM
1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 1-3PM
2572 GLEN EAGLES PL $2,050,000 5 4.2 6490 DETACHD 1-3PM
Posted on

“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

Posted on

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

Posted on

Open Houses for Sunday, August 15th, 2010

39 open houses this Sunday should provide you with lots of possibilities. Linda and I would both love to be of help to you should you need more information on any of these houses.

Address List Price BR Baths Prop Type Open
44 EAGLE CREST DR $89,900 2 1 CONDO 1 to 4
1400 BONNIEBRAE DR $169,500 2 1 ATTACHD 11 to 1:30
750 1ST ST $185,000 1 1 ATTACHD 1 to 3
16686 CARNEGIE AVE $239,000 4 2 DETACHD 12 to 3
5852 LAKEVIEW BLVD $243,000 2 1 DETACHD 1 to 3
16257 LAKE FOREST BLVD $249,900 3 1 DETACHD 1 to 3
1931 WOODLAND TER $399,000 4 3 DETACHD 1 to 4
5866 RIDGETOP CT $400,000 3 2 DETACHD 1 to 3
1899 WOODLAND TER 425000 5 3.5 DETACHD 12 to 2
51 TANGLEWOOD DR 425000 4 2 DETACHD 1 to 3
17802 HILLSIDE WAY 449800 4 2.5 DETACHD 1 to 3
12 MONTICELLO DR 449900 3 2.5 DETACHD 11 to 2
4844 LOWER DR 469000 4 4 ATTACHD 12 to 3
17640 TREETOP WAY 469500 4 3 DETACHD 2 to 4
17890 KELOK RD 478500 4 2.5 DETACHD 2:30 to 4
4852 LOWER DR 499000 3 4 ATTACHD 12 to 3
19415 SW DOGWOOD CT 519900 4 2.5 DETACHD 1 to 5
19319 SW DOGWOOD CT 519900 5 3 DETACHD 1 to 5
4120 SOUTHSHORE BLVD 597000 3 2.5 DETACHD 1 to 3
18606 WESTVIEW DR 599000 3 2.5 DETACHD 12 to 3
17080 FERNWOOD DR 639900 5 3.5 DETACHD 1 to 3
5511 FIELDSTONE CT 695000 4 2.5 DETACHD 1 to 3
5533 FIELDSTONE CT 715000 4 2.5 DETACHD 1 to 3
1225 LAKE GARDEN CT 735000 4 3.5+.5 DETACHD 1 to 3
1785 PALISADES TERRACE DR 749900 5 4.5 DETACHD 1 to 3
282 GREENWOOD RD 799500 3 2.5 DETACHD 11:30 to 2:30
5700 CHILDS RD 824000 4 2.5 DETACHD 1 to 3
17301 CANAL CIR 825000 3 2.5 DETACHD 1 to 3
17884 KELOK RD 848000 5 3.5 DETACHD 2:30 to 4
17896 KELOK RD 848000 5 5 DETACHD 2:30 to 4
17537 CARDINAL DR 895000 5 4 DETACHD 1 to 3
18020 SKYLAND CIR 949000 4 3.5 DETACHD 1 to 3
17281 KELOK RD 1095000 3 3 DETACHD 12 to 3
18209 SIENA DR 1097000 5 3.5 DETACHD 1 to 3
18246 BELLA TERRA DR 1194000 4 3.5 DETACHD 1 to 3
2569 GLEN EAGLES PL 1199000 5 4.5+.5 DETACHD 1 to 3
1808 RIDGE POINTE DR 1269000 5 4.5 DETACHD 1 to 3
667 LAKE BAY CT 1279000 4 4 DETACHD 12 to 3
2572 GLEN EAGLES PL 2185000 5 4.5+.5 DETACHD 1 to 3
Posted on

Lakewood Center for the Arts

Lake Oswego is a pretty art-oriented community. About town you will find the Gallery Without Walls, and art appreciation is taught by volunteers in the elementary schools. And then there is the annual Festival of the Arts which draws about 20,000 visitors each year for a full weekend of art and entertainment each June. I think a cornerstone of art in the city is the Lakewood Center for the Arts.

Located in the old Lakewood Elementary School building on State Street, the center houses the Lakewood Theater Company as well as a dance studio, art gallery, music and art classes, the Community Arts Preschool, community meeting rooms, and Re-Runs, a second hand shop that supports upkeep and renovation of the building.

The Lakewood Theater Company puts on 5 shows each season of extremely high quality. The stage was renovated in 2003 to hold 220 people with no seat more than 35 feet from the stage. Currently showing is the classic, Gypsy. Costs run about $30 for a single show or $130-$140 for a 5-show season. The performers are high-quality-local talent, with excellent sets and costumes. The theater has a history of 85-90% sell-out for performances. I have seen numerous performances and can attest to the value of the great entertainment.

Tickets are now on sale for the 2010-2011 season:
9/10-10/17: Sweet Charity
11/5-12/12: The Foreigner
1/14-2/20: The Hollow
3/11-4/17: Lend Me a Tenor
5/6-6/12: The Secret Garden

I have a soft spot for this theatre and a personal story. Back in the late 1970’s, when I was in High School at Lakeridge, I had a good friend who worked in the costume department. One Halloween she got us permission to use theatre costumes to attend a Halloween Party. She and I, along with another friend, were able to go to the party as a Chinese dragon. Talk about making an entrance!

I highly encourage you to support the Lakewood Center. And whether you are able to attend a play or not, if you are in Lake Oswego you are going to benefit from the presence of the Lakewood Center in our community.

This is just another great reason to live in Lake Oswego!

Dianne