Tag: real estate

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Market Activity for March 22-28, 2010

Lake Oswego had 18 properties come onto the market last week, along with 13 houses that went pending and 8 houses that were closed sales. Here is your market report:

NEWLY LISTED (March 22—March 28, 2010)

Address List Price # BR # BTHS Total SF Prop Type List Date
100 KERR PKWY $99,990 1 1 617 CONDO 3/22/2010
4000 CARMAN DR $147,000 2 2 866 CONDO 3/23/2010
100 KERR PKWY $169,900 2 2 823 CONDO 3/22/2010
16149 PEARCY ST $229,900 3 2 1,250 DETACHD 3/26/2010
653 A AVE $245,000 2 2 1,290 DETACHD 3/24/2010
17870 DEERBRUSH AVE $349,900 3 2.1 1,912 DETACHD 3/26/2010
534 2ND ST $359,000 2 2.1 1,394 CONDO 3/28/2010
75 CONDOLEA WAY $389,000 3 3 2,131 CONDO 3/23/2010
31 NOVA CT 434000 4 2.1 2,107 DETACHD 3/28/2010
13340 AUBURN CT 465000 3 2.1 2,451 ATTACHD 3/22/2010
17701 LEAFY LN 589000 4 3 3,600 DETACHD 3/23/2010
203 EVERGREEN RD 619000 3 3.1 1,973 ATTACHD 3/22/2010
4113 WESTBAY RD 631000 2 3 2,477 DETACHD 3/25/2010
18606 WESTVIEW DR 649900 3 2.5 2,783 DETACHD 3/22/2010
491 COUNTRY CLUB RD 679900 3 2 2,486 DETACHD 3/23/2010
2099 SUMMIT DR 699000 3 2.1 2,250 DETACHD 3/23/2010
901 LAKE SHORE RD 899000 4 3 3,216 DETACHD 3/24/2010
667 LAKE BAY CT 1399000 4 4 3,361 DETACHD 3/25/2010

PENDING SALES (March 22 – March 28, 2010)

Address List Price # BR # BTHS Total SF Prop Type CDOM
15200 BOONES WAY $169,000 2 1.1 1,248 CONDO 142
16200 PACIFIC HWY $239,000 2 2 1,200 CONDO 173
1601 GREENTREE RD $249,900 3 2.1 2,444 DETACHD 149
7 PEACOCK PL $279,950 3 2.1 1,400 DETACHD 143
5 ORIOLE LN $348,000 3 2.1 2,024 DETACHD 14
15 CHURCHILL DOWNS $368,000 4 2 2,014 DETACHD 115
4002 TEMPEST DR $430,000 4 3.1 4,319 DETACHD 33
2440 OVERLOOK DR $500,000 4 3 3,874 DETACHD 36
14279 CAMDEN LN 510000 4 2.1 2,373 DETACHD 71
14584 PFEIFER WAY 559000 3 2 2,600 DETACHD 47
5783 VICTORIA CT 595000 3 2 2,344 DETACHD 14
13315 HIDDEN BAY CT 688000 5 2.1 3,671 DETACHD 151
5245 LANGFORD LN 719000 3 2.1 2,957 DETACHD 104

SOLD (March 22- March 28, 2010)

Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
3009 WEMBLEY PARK RD $329,000 $320,000 4 1.1 1,754 DETACHD 302
2705 ORCHARD HILL PL $374,900 $331,500 3 2.5 2,250 DETACHD 19
5026 HARTFORD PL $429,000 $425,000 4 2.1 2,887 DETACHD 570
4651 HASTINGS PL $454,900 $440,000 4 2.1 2,215 DETACHD 35
5310 WASHINGTON CT $624,900 $582,000 4 3.1 3,328 DETACHD 878
5590 KODERRA AVE $689,000 $625,000 4 2.1 3,072 DETACHD 264
4380 UPPER DR $784,900 $710,000 5 4.1 4,071 DETACHD 181
16764 ALDER CIR $1,679,000 $1,350,000 4 4.1 3,456 DETACHD 200

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

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Open Houses for Sunday, March 28, 2010

Getting a head start on the weekend, here are the 21 open houses currently being promoted in the RMLS for this Sunday:

Address List Price # BR # BTHS Total SF Prop Type Open
1597 BONNIEBRAE DR $199,900 2 1 998 ATTACHD 1 to 3
181 Oswego Summit $200,000 2 2 1,383 CONDO 12 to 2
200 BURNHAM RD $205,850 1 1 820 CONDO 12 to 2
4251 WOODSIDE CIR $305,950 3 2 2,032 ATTACHD 12 to 2
3056 WEMBLEY PARK RD $339,000 3 2 2,600 DETACHD 1 to 4
19242 TERRY AVE $395,000 4 2 1,872 DETACHD 2 to 4
13340 AUBURN CT $465,000 3 2.1 2,451 ATTACHD 2 to 4
2031 LILLI LN $550,000 3 3.1 3,262 DETACHD 1 to 3
17 SCARBOROUGH DR 579900 4 2.1 3,290 DETACHD 1 to 4
19288 SW Megly CT 579900 5 3 3,594 DETACHD 1 to 5
7 MOUNTAIN VIEW LN 609000 5 2.1 3,324 DETACHD 1 to 4
15915 WALUGA DR 629000 3 2.1 2,939 DETACHD 1 to 4
17491 BLUE HERON DR 639950 4 2 2,396 DETACHD 1 to 3
13970 TAYLORS CREST LN 643490 4 2.1 3,371 DETACHD 11 to 2
5218 WESTFIELD CT 649900 4 2.1 3,125 DETACHD 1 to 4
18606 WESTVIEW DR 649900 3 2.5 2,783 DETACHD 12 to 3
18010 GIMLEY CT 685000 4 2.5 3,652 DETACHD 12 to 3
5245 LANGFORD LN 719000 3 2.1 2,957 DETACHD 2:30 to 4:30
17896 SW KELOK RD 974500 5 5 4,323 DETACHD 1 to 3:30
18024 SKYLAND CIR 1665000 4 3.2 4,131 DETACHD 1 to 3
2572 GLEN EAGLES PL 2395000 5 4.2 6,490 DETACHD 1 to 3

Have a great weekend!

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Financial Returns on Remodeling

ImageChef.comI think this time of year is rather conducive to taking on remodeling projects. Spring cleaning is part of it, but timing is also important. If you aren’t headed out of town for spring break, you may be considering taking on some projects around the house. And if you are thinking that you are going to sell your home this year, you are certainly looking around and wondering what you need to do to get your house ready.

The National Association of Realtors publishes an annual report on cost vs. value. This year it was published in the January issue of Realtor Magazine. The report breaks down the results by regions of the country: after all labor and materials costs do vary depending upon location. Oregon is in the Pacific region of this report. I also want to point out that every project is going to have a range of value. A kitchen can be remodeled for a couple of hundred dollars with a can of paint and a weekend of your time. Or it can be remodeled for $100,000 with slab granite, sub-zero stainless refrigerator, and commercial quality appliances. This report is based upon “averages”. In the case of kitchens and baths, it also shows “upscale”.

Here is a look at the estimated current cost vs. the resale return on the money spent:

Job Cost Resale Value Cost Recouped
Additions
Attic Bedroom $60,135 $52,749 87.70%
Back-up Power Generator $16,351 $9,462 57.90%
Bathroom $47,052 $32,057 68.10%
Composite Deck $16,956 $13,922 82.10%
Wood Deck $12,838 $11,744 91.50%
Family Room $100,023 $73,551 73.50%
Garage $69,912 $51,882 74.20%
Master Suite $124,579 $90,616 72.70%
Sunroom $83,463 $45,245 54.20%
Two-Story $184,839 $143,073 77.40%
Upscale
Bathroom $88,000 $58,557 66.50%
Composite Deck $41,428 $29,687 71.70%
Garage $102,955 $68,334 66.40%
Master Suite $257,770 $164,278 63.70%
Remodeling
Basement $74,974 $68,648 91.60%
Bathroom $18,864 $14,517 77%
Home Office $31,479 $17,801 56.50%
Major Kitchen $63,803 $53,923 84.50%
Minor Kitchen $23,210 $21,991 94.80%
Upscale
Bathroom $59,456 $39,648 66.70%
Major Kitchen $120,379 $89,764 74.60%
Replacements
Entry Door $1,353 $1,732 128%
Roofing $24,712 $18,839 76.20%
Vinyl Siding $13,114 $10,674 81.40%
Vinyl Windows $12,760 $11,328 88.80%
Wood Windows $13,804 $12,175 88.20%

These figures are calculated by NAR and I do find myself wondering about some of them. For instance, the return on a roof is shown to be 76.2%, but I know from experience that a house that needs a new roof is very difficult to sell. So it will take longer and it will receive low offers because of the roof. So I personally think that replacing a roof is critical prior to selling in a way that goes beyond the simple return on the cost of the new roof. However, for the sake of comparison, using these figures it is easy to see that the return on a wood deck is 91% whereas the return on a composite deck is 82%. So if the deck is being replaced purely for the purpose of selling the home, it makes more sense to replace the deck with wood.

My final thought on all of this is that you will see that there is only one item that returns `100% of its cost: replacing the front door, which actually returns 128% of the cost. Everything else, even the items with the higher returns, do not return 100%. To me, this means that if you are going to do remodeling, additions, and improvements to your home, do them so that you can enjoy them. Do them now. Don’t put them off. The value of your remodeling is something that you will enjoy every single day that you live in your home. And that is a value that goes beyond anything you can calculate in dollars.

Let us know if you have any questions. Linda and I are always here to help.

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St. Patrick’s Day Fun

Looking for things to do in Lake Oswego to celebrate St. Patrick’s Day?  Check out this family-oriented celebration at Maher’s with live entertainment, dance lessons, activities, games, contests, and lots of great food. 10% of all funds received will be donated to the Lake Oswego School Foundation. For more information click here:   St. Patrick’s Day Festival

Then there’s always the option of a quick jaunt into Portland for the annual pilgrimage to Kell’s Irish Restaurant & Pub.  Its been voted one of the top Irish establishments in the U.S., and attracts quite a crowd on St. Patrick’s Day.  Prepare to witness a sea of cabbie’s in downtown Portland, many of whom have already said they’ll take people home even if they can’t find their wallet.  Check out details here:  Kells

Here is a collection of Irish sayings & blessings for your enjoyment.  Maybe one will cone in handy this year!

May you always have
Walls for the winds,
A roof for the rain,
Tea beside the fire,
Laughter to cheer you,
Those you love near you,
And all your heart might desire!

May you be in
Heaven a half hour before the
Devil knows you’re dead!

When Irish eyes are smiling,
Tis like a morn in spring.
With a lilt of Irish laughter
You can hear the angels sing
When Irish hearts are happy
All the world is bright and gay
When Irish eyes are smiling
Sure, they steal your heart away.

May your blessings outnumber
The shamrocks that grow,
And may trouble avoid you
Wherever you go.

There are many good reasons for drinking,
One has just entered my head.
If a man doesn’t drink when he’s living,
How in the hell can he drink when he’s dead?

May the best day of your past
Be the worst day of your future.

I’m looking over a four leaf clover
That I overlooked before
One leaf is sunshine, the second is rain,
Third is the roses that grow in the lane.
No need explaining the one remaining
Is somebody I adore.
I’m looking over a four leaf clover
That I overlooked before.

May you live to be a hundred years
With one extra year to repent.

May those who love us, love us
And those who don’t love us,
May God turn their hearts
And if he can’t turn their hearts,
May he turn their ankles
So we will know them by their limping!

As you slide down the banister of life,
May the splinters never point in the wrong direction!

May luck be our companion
May friends stand by our side
May history remind us all
Of Ireland’s faith and pride.
May God bless us with happiness
May love and faith abide.

Leprechauns, castles, good luck and laughter
Lullabies, dreams, and love ever after.
Poems and songs with pipes and drums
A thousand welcomes when anyone comes.
That’s the Irish for you!

There’s a dear little plant that grows in our isle,
‘Twas St. Patrick himself, sure, that sets it;
And the sun of his labor with pleasure did smile,
And with dew from his eye often wet it.
It grows through the bog, through the brake, through the mireland,
And they call it the dear little Shamrock of Ireland.

May your neighbors respect you,
Troubles neglect you,
The angels protect you,
And Heaven accept you.

May you have:
A world of wishes at your command
God and his angels close at hand
Friends and family their love impart,
And Irish blessings in you heart.

May God grant you many years to live,
For sure he must be knowing
The earth has angels all to few
And Heaven is overflowing.

These things I warmly wish to you-
Someone to love
Some work to do
A bit o’ sun
A bit o’ cheer
And a guardian angel always near.

Here’s to a long life and a merry one
A quick death and an easy one
A pretty girl and an honest one
A cold beer and another one!

May your pockets be heavy and your heart be light,
May good luck pursue you each morning and night,

O Ireland isn’t it grand you look
like a bride in her rich adornin?
And with all the pent up love of my heart
I bid you the top o’ the mornin!

May the lilt of lush laughter lighten ever road,
May the midst of Irish magic shorten every road.
May you taste the sweetest pleasures
that fortune ever bestowed,
And may all your friends remember
all the favors you are owed.

Go mbeannai Dia duit
(May God Bless You)

May your home always be too small to hold all your friends.
God is good, but never dance in a small boat.

May you live as long as you want,
And never want as long as you live.

If you’re enough lucky to be Irish…
You’re lucky enough!My wild Irish rose
The sweetest flower that grows
You may search everywhere
But none can compare to my wild Irish rose
My wild Irish rose
The sweetest flower that grows
Someday for my sake she may let me take
A bloom from my wild Irish rose

‘Tis better to buy a small bouquet
And give to your friend this very day,
Than a bushel of roses white and red
To lay on his coffin after he’s dead.

For each petal on the shamrock
This brings a wish your way-
Good health, good luck, and happiness
For today and every day.

Dance as if no one were watching,
Sing as if no one were listening,
And live every day as if it were your last.

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Market Activity for March 8th to 14th, 2010

Last week brought 26 new listings, 24 pending sales, and 16 closed sales. I think it’s beginning to feel a lot like spring!

Here is your data for last week (see below the tables for additional notes):

NEWLY LISTED (March 8—March 16, 2010)

Address List Price # BR # BTHS Total SF Prop Type List Date
4 TOUCHSTONE $129,000 2 2 984 CONDO 3/8/2010
4000 CARMAN DR $129,000 2 2 836 CONDO 3/9/2010
18 CRESTFIELD CT $137,500 2 1 923 CONDO 3/11/2010
181 Oswego Summit $200,000 2 2 1,383 CONDO 3/12/2010
1210 PINE ST $217,500 3 1.1 1,720 DETACHD 3/9/2010
13 ERASMUS ST $219,000 2 2.1 1,414 ATTACHD 3/8/2010
1137 SPRUCE ST $258,900 3 1.1 1,214 DETACHD 3/10/2010
12824 BOONES FERRY RD $275,000 2 2.1 1,398 CONDO 3/9/2010
5 SUMMIT RIDGE CT 298500 2 2.1 1,576 ATTACHD 3/8/2010
5 ORIOLE LN 348000 3 2.1 2,024 DETACHD 3/10/2010
18357 HEATHER ANN CT 449000 3 2 1,832 DETACHD 3/11/2010
4671 Lakeview BLVD 499900 4 2.1 2,575 DETACHD 3/12/2010
4941 HASTINGS DR 549000 4 2.1 2,530 DETACHD 3/13/2010
16925 DEPOT ST 549900 4 2.1 2,893 DETACHD 3/12/2010
2031 LILLI LN 550000 3 3.1 3,418 DETACHD 3/12/2010
19266 SW MEGLY CT 589900 4 3 3,575 DETACHD 3/12/2010
5783 VICTORIA CT 595000 3 2 2,344 DETACHD 3/10/2010
2329 STONEHURST CT 615000 4 3 3,275 DETACHD 3/8/2010
17363 BROOKHURST DR 625000 4 2.1 3,420 DETACHD 3/12/2010
5587 Carman Drive 739000 4 3.1 2,617 DETACHD 3/12/2010
1736 PALISADES TERRACE DR 739950 3 2.1 3,079 DETACHD 3/9/2010
1414 COUNTRY COMMONS 1095000 4 3.1 5,679 DETACHD 3/11/2010
112 NORTHSHORE CIR 1760000 4 4.2 3,632 DETACHD 3/9/2010
1460 SKYLAND DR 1900000 4 4.1 4,760 DETACHD 3/9/2010
1066 NORTHSHORE RD 2795000 4 5.1 4,224 DETACHD 3/12/2010
1186 CRESTLINE CT 5950000 6 6.3 14,411 DETACHD 3/10/2010

PENDING SALES (March 8 – March 14, 2010)

Address List Price # BR # BTHS Total SF Prop Type CDOM
59 GALEN ST $89,950 1 1 550 CONDO 97
8 OSWEGO SMT $129,900 2 2 1,140 CONDO 115
16250 PACIFIC HWY $150,000 3 2 1,626 CONDO 185
775 BOCA RATAN DR $180,000 3 3 2,401 DETACHD 186
550 S STATE ST $189,000 2 1 920 CONDO 59
45 EAGLE CREST DR $199,000 3 2 1,348 CONDO 234
5858 LAKEVIEW BLVD $244,000 2 1 1,117 DETACHD 248
150 KINGSGATE RD $314,900 3 2 1,502 DETACHD 239
1650 FIRCREST DR 325000 4 3 2,384 DETACHD 537
516 7TH ST 355000 3 2.1 1,502 DETACHD 12
14300 SHERBROOK PL 358500 3 2.1 1,924 DETACHD 141
624 LIVINGOOD LN 380000 4 3 2,596 DETACHD 15
523 2nd ST 399000 2 2 1,274 CONDO 38
13821 REGENCY CT 409000 4 2.1 2,139 DETACHD 223
4137 ORCHARD WAY 435000 5 2.1 3,084 DETACHD 181
13448 AUBURN CT 469000 3 2.1 2,535 ATTACHD 131
4763 AVERY LN 514900 4 2.1 2,566 DETACHD 19
1430 CHERRY CREST DR 525000 4 3 3,302 DETACHD 158
10 OTHELLO ST 549900 4 3 3,440 DETACHD 3
17079 CHERRY CREST AVE 575000 3 2.1 3,002 DETACHD 30
13460 SNOWBERRY CT 582500 3 2.1 3,327 DETACHD 243
1224 TYNDALL CT 799000 4 3.1 4,157 DETACHD 306
14435 UPLANDS DR 799995 4 3.1 4,822 DETACHD 115
749 SOUTHVIEW RD 899000 4 2.1 3,052 DETACHD 4

SOLD (March 8- March 14, 2010)

Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
16250 PACIFIC HWY $178,900 $110,000 1 1 859 CONDO 860
668 MCVEY AVE $219,998 $147,000 2 1 852 CONDO 882
65 GREENRIDGE CT $215,000 $148,800 2 2 1,314 CONDO 80
1547 BOCA RATAN DR $208,900 $194,000 2 1.1 1,008 ATTACHD 168
105 KINGSGATE RD $279,500 $269,900 3 2 1,500 DETACHD 203
16111 LINDSAY CT $347,500 $323,000 3 2.1 1,840 DETACHD 73
17755 HILL WAY $364,900 $339,900 4 3 1,831 DETACHD 70
980 C AVE $399,500 $360,000 3 2 1,312 DETACHD 145
529 2ND ST 535600 399000 2 2 1,339 CONDO
17121 WALL ST 475000 448000 3 2.1 2,187 DETACHD 391
3745 TEMPEST DR 547500 465000 4 3 2,573 DETACHD 411
11 MORNINGVIEW CIR 547000 525000 3 2.1 2,921 DETACHD 235
557 2ND ST 797355 649000 2 2.1 1,833 CONDO
1505 COUNTRY CLUB RD 759900 660000 6 4.1 5,463 DETACHD 229
5322 ROSALIA WAY 799999 685000 4 2.1 3,500 DETACHD 87
5234 WESTFIELD CT 724900 689000 4 3 3,252 DETACHD 8

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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Buying a house on the Lake

Oswego Lake has always had a certain appeal. It is in the middle of the town and is certainly a focus of the community. Years ago the waterfront homes were little vacation cottages that people came from Portland to enjoy on the weekends and on summer break. As rail lines and freeways made the drive quick and easy, the little cottages have gradually been replaced with modern homes and some pretty incredible mansions. Even if you will never aspire to living on the Lake, the real estate on the waterfront is certainly intriguing. And if you do want to live on the Lake, you need to know a little bit about the various values that the waterfront solicits.

There are 4 distinct categories of values for the waterfront. I am going to explore each one and give you a list of the current inventory.

Condominiums
Up until 10 years ago, there just weren’t many condos on the lake. There is a really charming 1940’s 4-plex on Northshore, but that was about it. Then in about 2000 the Lakewood Bay Condomiums and Lofts were built. And in 2008 a couple of apartment complexes were converted to condominiums at the Eastern end of the Lake. Of the various developments, there are two condo complexes that have docks and lawn areas right on the water’s edge. Some units have boat slips. And for anyone with disabilities or trying to avoid stairs, the Lakewood Bay Condos have elevator access. Here is the current inventory of condominiums for sale:

Address List Price # BR # BTHS Total SF Prop Type List Date
244 RIDGEWAY RD $214,500 2 1 753 CONDO 11/14/2009
668 MCVEY AVE $216,000 2 1 852 CONDO 1/28/2010
668 MCVEY AVE 209000 – 229000 3 1.1 985 CONDO 3/9/2010
668 MCVEY AVE $239,998 3 1.1 992 CONDO 11/24/2009
668 MCVEY AVE $395,000 3 1.1 985 CONDO 7/24/2009
119 3RD ST $399,900 3 2 1,204 CONDO 10/11/2009

Houses on the Canals

The canals are less expensive then the other areas of the lake.  Of course this will have a range of value with newer homes generally selling for more than older homes.  I think that location on the canals also affects the value.  Kelok Canal is a flowing body of water where the Lake is filled from the Tualatin River.  So the quality of the water is going to be better and more enjoyable to use than the more shallow and more stagnant water on the other canals.  Also, there is one canal that is so wide that it is often considered a bay, Blue Heron Bay/Canal.  There is a direct relationship between water quality and property values, in my opinion.  Here is what is currently for sale on the canals:

Address List Price # BR # BRHS Total SF Prop Type List Date
3300 SOUTHSHORE BLVD $549,850 2 2.2 1,162 DETACHD 1/1/2010
17471 CARDINAL DR $575,900 4 2.1 3,056 DETACHD 2/11/2010
17455 BLUE HERON RD $750,000 3 2 2,572 DETACHD 12/8/2009
17344 CEDAR RD $1,099,000 4 2.1 2,831 DETACHD 3/1/2010
3220 SOUTHSHORE BLVD $1,099,000 3 3 3,629 DETACHD 2/5/2010
17460 WREN CT $1,295,000 3 3.1 3,300 DETACHD 11/6/2009
17282 LAKE HAVEN DR $1,299,000 4 2.1 3,662 DETACHD 2/2/2010
17281 KELOK RD $1,395,000 4 3 2,682 DETACHD 1/21/2010

West Bay and Lakewood Bay
At each end of the lake is a bay. The bays are rather wide with enough room for boating and water skiing. Not as big as the lake, they still have better water quality than most of the canals. Lakewood Bay has the advantage of being next to Millinium Plaza Park for easy access to the Farmer’s Market. It also shares the water with restaurants with dock-side dining. Here is the current inventory of homes for sale on both of the bays:

Address List Price # BR # BTHS Total SF Prop Type List Date
106 3RD ST $699,900 2 2 1,495 DETACHD 7/16/2009
548 RIDGEWAY RD $999,500 4 3 2,830 DETACHD 10/19/2009
811 NORTHSHORE RD $1,299,900 4 4 4,945 DETACHD 4/8/2008
102 3RD ST $1,490,000 4 4 3,400 DETACHD 2/8/2010
307 NORTHSHORE RD $1,500,000 3 2 2,673 DETACHD 12/19/2009
425 NORTHSHORE RD $1,529,000 3 3 3,270 DETACHD 1/24/2010
1103 LAKESHORE RD $1,599,000 3 3 3,200 DETACHD 7/26/2008
4398 Lakeview BLVD $1,775,000 4 2.2 3,309 DETACHD 12/30/2008
100 3RD ST $1,799,000 3 3.1 3,600 DETACHD 2/6/2010

Main Lake
The prime real estate on the Lake is the main lake. This body of water is a natural lake. At it’s deepest it is about 150′. It is a couple of miles long and about half a mile wide, so it is large enough for boating, sailing, and water skiing. In my experience the values on the lake are affected by the amount of sun that the home is exposed to. On the North shore the houses get full sun all afternoon. On the South shore there are areas that get very little sun light and remain shaded nearly all day long. For this reason, I do think that the North shore has higher values than the South shore. However, the North shore is the home of a rail line that is still in use. So the sunshine is shared with 3 or 4 trains on a daily basis. There is talk of taking out the train track some day and putting in a trail for biking. That’s still in the dream stage and don’t hold me to it. If you buy on the North shore, be aware of the train. Here is the current inventory for houses on the main lake:

Address List Price # BR # BTHS Total SF Prop Type List Date
16511 Maple CIR $925,000 3 3 3,341 DETACHD 3/1/2010
16990 ALDER CIR $995,000 3 2.1 1,926 DETACHD 8/4/2008
3203 Southshore BLVD $1,099,900 4 3.1 3,773 DETACHD 2/23/2009
444 RIDGEWAY RD $1,150,000 3 2 2,099 DETACHD 9/9/2009
16771 MAPLE CIR $1,450,000 3 3 2,074 DETACHD 1/3/2009
983 LAKE FRONT RD $1,595,000 3 2.1 2,199 DETACHD 2/18/2010
1835 PALISADES TERRACE DR $1,748,900 4 3 3,380 DETACHD 1/8/2010
112 NORTHSHORE CIR $1,760,000 4 4.2 3,632 DETACHD 3/9/2010
2557 SOUTHSHORE BLVD $1,775,000 3 3.2 3,604 DETACHD 1/11/2010
333 NORTHSHORE RD $2,500,000 4 4.1 5,152 DETACHD 12/1/2009
961 TERRACE DR $3,495,000 4 4.2 5,795 DETACHD 9/7/2009
1719 LAKE FRONT RD $3,888,850 4 5.1 5,251 DETACHD 5/3/2009
16697 MAPLE CIR $4,695,000 4 3.1 3,146 DETACHD 1/30/2010
3012 LAKEVIEW BLVD $5,750,000 4 4.1 5,957 DETACHD 6/7/2008
1901 PALISADES TERRACE DR $5,950,000 5 4.1 7,284 DETACHD 4/27/2009
3232 LAKEVIEW BLVD $6,300,000 3 5.1 7,500 DETACHD 6/23/2008
3214 LAKEVIEW BLVD $7,500,000 4 5.1 5,800 DETACHD 6/23/2008
1850 NORTHSHORE RD $19,500,000 5 6.2 13,500 DETACHD 9/8/2008

And for those of you who really like to crunch the numbers, I thought I’d give you a list of the water front sales that have occurred in the last 12 months:

Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
668 MCVEY AVE 164900 160000 2 1 852 CONDO 9
3688 SPRING LN 179900 164500 2 2 1,120 CONDO 81
668 MCVEY AVE 229900 199900 2 1 852 CONDO 765
668 MCVEY AVE 249850 200000 3 1.1 985 CONDO 982
668 MCVEY AVE 239900 220000 3 1.1 1,184 CONDO 61
668 MCVEY AVE 369900 300000 3 1.1 989 CONDO 521
668 MCVEY AVE 399850 365000 3 1.1 985 CONDO 19
111 3RD ST 419000 390000 2 2 1,206 CONDO 276
101 3RD ST 474900 430000 3 2 1,447 CONDO 376
17675 CARDINAL DR 599000 500000 3 3 3,458 DETACHD 294
830 CABANA LN 668250 572941 4 3.1 3,029 DETACHD 79
17332 Lake Haven DR 749000 710000 4 2 2,484 DETACHD 125
706 MCVEY AVE 949000 780000 3 2 2,000 DETACHD 391
18051 KELOK RD 899000 799000 5 3.1 3,670 DETACHD 401
716 MCVEY AVE 749998 800000 3 2 2,348 DETACHD 805
1755 SOUTHSHORE BLVD 949000 850000 5 3.1 4,757 DETACHD 104
17960 SARAH HILL LN 1179000 910000 5 3.1 4,800 DETACHD 163
1555 BAY VIEW LN 995000 945000 4 4.1 4,775 DETACHD 277
17178 CEDAR RD 1195000 1049000 5 3.1 4,209 DETACHD 92
1149 LAKESHORE RD 1295000 1115000 4 2.1 2,660 DETACHD 143
3270 LAKEVIEW BLVD 1399000 1125000 3 3 3,295 DETACHD 147
17211 KELOK RD 1399000 1230000 3 3.1 5,384 DETACHD 112
128 NORTHSHORE CIR 1479000 1290000 3 3.1 3,550 DETACHD 764
753 LAKESHORE RD 1385000 1335000 3 3.1 2,562 DETACHD 51
2605 SOUTHSHORE BLVD 1395000 1340000 3 4.1 4,750 DETACHD 234
17225 KELOK RD 1350000 1350000 4 3.1 4,161 DETACHD 0
975 LAKE FRONT RD 1899000 1500000 3 3 3,232 DETACHD 157
16840 ALDER CIR 1595000 1555000 4 2.1 3,563 DETACHD 77
4313 WESTBAY RD 2775000 2100000 4 3.1 4,000 DETACHD 193
890 LAKESHORE RD 2275000 2275000 3 3.1 3,200 DETACHD 0
16819 ALLEN RD 5500000 4850000 3 3.1 4,591 DETACHD 8
1980 TWIN POINTS RD 4987500 4987500 4 5 6,600 DETACHD 0

This is a pretty quick summary. But I think it gives you a small insight into what values are like for homes on Oswego Lake. The lake is just a very beautiful and unique place to own a home. In my experience people who aspire to living on the lake will start out in a more affordable home on a canal and then through the course of their professional lives move up to a home on the main lake. I have also known people who bought distressed properties on the canals and made enough money on a good remodel to sell at a profit and move onto the main lake. In any case, what a great place to come home to at the end of a long day at work. Living on the lake is like always being on vacation.

Please let Linda or I know if you have any questions about buying home on Oswego Lake.
Dianne

Posted on

Lake Oswego Open Houses ~ Sunday March 7, 2010

There are 20 properties scheduled to be Open in Lake Oswego Sunday, according to RMLS.  Enjoy!

L/Price Address # Beds # Baths Total SF Style Open
$129,000 4 TOUCHSTONE 2 2 979 TWNHSE 12-4PM
$298,000 12868 BOONES FERRY RD 2 2.1 1136 TWNHSE 1-3PM
$309,000 12892 BOONES FERRY RD 2 2.1 1136 TWNHSE 1-3PM
$329,500 5373 LAKEVIEW BLVD 3 1 2176 DETACHD 2-4PM
$385,900 18414 SANDPIPER ST 3 2.1 1712 DETACHD 11-3PM
$399,900 446 LIVINGOOD LN 4 2 2440 DETACHD 1-4PM
$469,000 57 CONDOLEA TER 2 2.1 2172 TWNHSE 1-3PM
$469,900 662 CLARA CT 3 3 2740 DETACHD 1-3PM
$559,000 14584 PFEIFER WAY 3 2 2600 DETACHD 2-4PM
$699,500 5218 WESTFIELD CT 4 2.1 3125 DETACHD 1-4PM
$789,000 1015 SW SOUTHSHORE BLVD 4 3 3522 DETACHD 12-1:45PM
$845,000 18955 BRYANT RD 4 2.1 3660 DETACHD 12-3PM
$974,500 17896 SW KELOK RD SW 5 5 4323 DETACHD 2:15-4PM
$1,125,000 1809 HEADLEE LN 2 2.1 3836 DETACHD 2-4PM
$1,199,950 17464 RIDGEVIEW LN 4 3.1 4407 DETACHD 1-3PM
$1,299,950 664 OAK MEADOW DR 4 3.1 4198 DETACHD 1-3PM
$1,349,950 657 OAK MEADOW DR 4 3.1 4371 DETACHD 1-3PM
$1,399,950 17364 RIDGEVIEW CT 4 3.1 4436 DETACHD 1-3PM
$1,985,850 15825 OSWEGO SHORE CT 4 3.1 4317 DETACHD 1-3PM
$2,395,000 2572 GLEN EAGLES PL 5 4.2 6490 DETACHD 1-3PM
Posted on

Open Houses in Lake Oswego for 2/28/2010

This Sunday there are 24 houses being promoted to be hold open, according to the Realtor’s Multiple Listing Service:

Address List Price # BR # BTHS Total SF Prop Type Open
4000 CARMAN DR $160,000 2 2 1,100 CONDO 1 to 4
5373 LAKEVIEW BLVD $329,500 3 1 2,176 DETACHD 1 to4
5299 LAKEVIEW BLVD $379,900 4 2.1 2,165 DETACHD 12 to 2
624 LIVINGOOD LN $380,000 4 3 2,596 DETACHD 1 to 3
119 3RD ST $399,900 3 2 1,204 CONDO 1 to 4
13448 AUBURN CT $474,900 3 2.1 2,535 ATTACHD 1 to 3
5475 WILLOW CT $479,900 3 2.1 2,438 ATTACHD 1 to 3
7 MOUNTAIN VIEW LN $659,500 5 2.1 3,324 DETACHD 1 to 4
15915 WALUGA DR 669000 3 2.1 2,939 DETACHD 2 to 4
5218 WESTFIELD CT 699500 4 2.1 3,125 DETACHD 1 to 4
17110 LOWENBERG TER 799000 4 2.1 2,678 DETACHD 1 to 3
17281 LOWENBERG TER 884900 4 3.1 3,386 DETACHD 1 to 3
17154 LOWENBERG TER 889900 5 3.1 3,497 DETACHD 1 to 3
14480 KRUSE OAKS BLVD 895000 4 3.1 4,661 DETACHD 10 to 2
17896 SW KELOK RD 990000 5 5 4,323 DETACHD 2 to 3:45
18222 SIENA DR 1088000 6 4.1 3,800 DETACHD 1 to 3
18209 SIENA DR 1178950 5 3.1 3,839 DETACHD 1 to 3
17464 RIDGEVIEW LN 1199950 4 3.1 4,407 DETACHD 1 to 3
1808 RIDGE POINTE DR 1269000 5 4.1 4,155 DETACHD 1 to 3
18246 BELLA TERRA DR 1294000 4 3.1 4,196 DETACHD 1 to 3
664 OAK MEADOW DR 1299950 4 3.1 4,198 DETACHD 1 to 3
657 OAK MEADOW DR 1349950 4 3.1 4,371 DETACHD 1 to 3
17364 RIDGEVIEW CT 1399950 4 3.1 4,436 DETACHD 1 to 3
2572 GLEN EAGLES PL 2395000 5 4.2 6,490 DETACHD 1 to 3

Have a great weekend!

Posted on

Lake Oswego Market Trends

I thought it would be interesting to do a couple of snap shots of various price points in the Lake Oswego real estate market. These each cover all listing/sold activity for the last six months and are divided into value ranges. These are for single-family, detached homes and are all located in the 97034 and 97035 zip codes.  Click on any of the graphs to see a larger, easier-to-read version:

Houses priced from $200,000 to $400,000

  • 166 were offered for sale
  • 88 sold
  • There is currently a listing inventory of 6.3 month
  • The average sales price was $324,773
  • Among the sold homes, the CDOM (cumulative days on the market) averaged 129 days

Houses priced from $400,000 to $600,000

  • 156 were offered for sale
  • 71 sold
  • There is currently a listing inventory of 10.7 months
  • The average sales price was $480,964
  • Average cumulative days on the market to sell was 165 days

Houses priced from $600,000 to $800,000

  • 76 were offered for sale
  • 36 sold
  • There is currently an inventory of 10.7 months
  • The average sales price was $701,924
  • Cumulative days on the market to sell was 234

Houses priced from $800,000 to $1,200,000

  • 76 were offered for sale
  • 30 sold
  • There is an inventory of 17.2 months
  • Average sales price was $947,899
  • Cumulative days on the market to sell was 373 days

Homes priced $1,200,000 to $2,200,000

  • 52 were offered for sale
  • 16 sold
  • There is a 24.5 month inventory
  • Average sales price was $1,552,281
  • Cumulative days on the market was 323

I like these little snap shots.  It allows you to visually see the market.  It is very apparent that the first-time-home buyer tax credit that was originally supposed to expire in November had a big impact on the less expensive homes (we will probably see something similar this April with the extension).  It’s also very easy to see that less expensive homes sell more easily than more expensive homes.  Cumulative days on the market in the expensive homes is out and out ugly.

One reason for doing this post, this week, was so that I could play with the new statistics function being offered to Realtors by the RMLS.  Our local multiple listing service was the first in the entire United States to go completely web-based about 8 years ago.  Since then they have continued to push the functions of the website and the new statistics function is the latest enhancement.  It still has some limitations, but it is really cool.  Linda and I can now take snap shots of pretty much any part of the market, depending on what our clients needs are, and produce these spiffy graphs and statistics.  Besides being fun, I think it’s going to be extremely helpful.

I hope you found something useful in the information presented today.  If you have any other areas of the market you’d like studied or questions you’d like answered, just let us know.

Dianne

Posted on

Market Activity for February 15-21, 2010

This past week brought 26 new listings onto the market in Lake Oswego, 8 houses received offers that were accepted, and 6 houses closed escrow.
(see below the tables for additional notes):

NEWLY LISTED (Feb. 15—Feb. 21, 2010)

Address List Price # BR # BTHS Total SF Prop Type List Date
7 CRESTFIELD CT $89,900 1 1 689 CONDO 2/16/2010
44 EAGLE CREST DR $154,000 3 2 1,085 CONDO 2/19/2010
1652 BONNIEBRAE DR $219,900 3 1.1 1,303 CONDO 2/21/2010
16250 PACIFIC HWY $259,000 2 2 1,305 CONDO 2/15/2010
82 WHEATHERSTONE $289,000 3 2.1 1,692 ATTACHD 2/17/2010
12892 BOONES FERRY RD $309,000 2 2.1 1,136 CONDO 2/16/2010
2638 GREENTREE RD $319,900 4 2 2,712 DETACHD 2/17/2010
5110 LAKEVIEW BLVD $339,900 3 2 1,340 DETACHD 2/15/2010
5756 KENNY ST 339900 3 2.1 1,542 DETACHD 2/20/2010
2030 GREENTREE RD 368900 3 2 1,613 DETACHD 2/15/2010
14138 KNAUS RD 375000 4 2 2,001 DETACHD 2/18/2010
18414 SANDPIPER ST 385900 3 2.1 1,712 DETACHD 2/19/2010
4200 COBB WAY 399000 3 3 2,400 DETACHD 2/18/2010
4002 TEMPEST DR 430000 4 3.1 4,319 DETACHD 2/17/2010
18640 TUALATA AVE 439000 4 3 2,087 DETACHD 2/15/2010
5475 WILLOW CT 479900 3 2.1 2,438 ATTACHD 2/19/2010
4763 AVERY LN 514900 4 2.1 2,566 DETACHD 2/18/2010
2440 OVERLOOK DR 525000 4 3 3,874 DETACHD 2/15/2010
5043 ROSEWOOD ST 549900 3 3 2,680 DETACHD 2/16/2010
325 3RD ST 559900 2 2.1 1,937 ATTACHD 2/19/2010
5035 ROSEWOOD ST 564900 3 3 2,875 DETACHD 2/17/2010
45 DA VINCI ST 649000 3 3.1 3,122 DETACHD 2/16/2010
14002 TAYLORS CREST LN 650000 4 3 3,086 DETACHD 2/17/2010
5705 SOUTHWOOD DR 739900 3 2.1 3,372 DETACHD 2/18/2010
4114 CASEY CT 879000 4 2.1 3,405 DETACHD 2/18/2010
983 LAKE FRONT RD 1595000 3 2 2,199 DETACHD 2/18/2010

PENDING SALES (Feb. 15 – Feb. 21, 2010)

Address List Price # BR # BTHS Total SF Prop Type CDOM
47 EAGLE CREST DR $95,000 2 1 932 CONDO 399
1950 BONNIEBRAE DR $179,500 2 1.1 1,056 ATTACHD 91
860 MCVEY AVE $261,360 8 5.1 3,648 DETACHD 8
16266 LAKE FOREST BLVD $314,999 3 2 1,860 DETACHD 303
4051 VIRGINIA WAY $334,900 4 2.1 1,658 DETACHD 139
18040 ROYCE WAY $649,980 5 3 3,780 DETACHD 259
16705 GLENWOOD CT $699,000 4 3 4,243 DETACHD 190
16764 ALDER CIR $1,679,000 4 4.1 3,456 DETACHD 200

SOLD (Feb. 15 – Feb. 21, 2010)

Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
45 SW EAGLE CREST DR $205,000 $197,000 3 2 1,348 CONDO 50
192 RIDGEWAY RD $235,000 $200,000 2 1 1,659 CONDO 148
4447 GOLDEN LN $249,000 $229,000 2 2.1 1,980 ATTACHD 531
19 BECKET ST $399,995 $399,995 4 3.1 3,818 DETACHD 72
4938 MULHOLLAND DR $478,500 $450,000 3 2.1 2,498 ATTACHD 217
13311 LESLIE CT $1,479,000 $1,300,000 4 4.1 5,601 DETACHD 223

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.