real estate Archives - Page 81 of 131

January 19, 2013

* Be cautious when looking into a “Lease Option” opportunity if one presents itself. For the Seller, it most always means that the bank can, at any time, call for all monies owing from you on the property per your mortgage’s “Due On Sale” clause, as you are technically transferring a form of ownership in an Option. I.e., you could be called upon to pay in full. Contrary to popular belief, setting up a Trust does not get you around the Due On Sale clause either. Best to consult with your Realtor, and/or attorney before embarking on an adventure like this : )
* Remember that all repairs agreed to in a transaction in the State of Oregon must be performed by a licensed, bonded contractor.
* Make sure to give your Lender plenty of time to “close” your transaction when writing your offer. Talk to your Realtor, and make sure to consult with your Lender to see about how long they need. Lately it is typically around 45 days, but each situation is different. Should you not meet your “on or before” closing date as per your Offer contract, the Seller could possibly accept another offer and keep your earnest money… just sayin’ : ) Now, most people will compromise and agree to an addendum extending the closing date, but you cannot guarantee that the Seller will agree to that… If they have, let’s say, received a better verbal offer than yours during the time it has taken to get from agreement to “not meeting” the closing date, they may just decide to opt to take that larger offer. Just a note of caution.

Let’s take a look at the recently released data on real estate for 2012.
Below is some information for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:

According to the RMLS Market Action Report for the Portland Metro Area December, 2012. At 1,760, closed sales were 9.2% higher than December 2011 sales of 1,612. pending sales (or “Accepted Offers”) were down, however, with 1443 in December of 2011, and 1384 in December 2012… putting the market down by 4.1%.

2012 racked up 32,300 new listings, 24,010 accepted offers, and 23,438 closed sales.

Compared to 2011, new listings are down 5.2%, pending sales are up by 16.2% overall, and closed sales are up 19.1%.

The average sale price in 2012 was $275,000, which is 4.4% higher than 2011’s $263,300.

***AND… Total time on the market has dropped by 21.5% from 143 to 112 days.

The overall economic improvement and increase in volume has positively affected the numbers for total dollar volume which rose to $6.45 billion in 2012 from 2011’s $5.2 billion.

For our Property Blotter readers, the combined area of Lake Oswego and West Linn reported the following totals for 2012:

2085 New Listings (68 in Dec’12)

1389 Pending Sales (81 in Dec’12)

1364 Closed Sales (108 in Dec’12)

An Average Sale Price of $434,800. ($512,100 in Dec’12!!)

Prices rose 1.5% in 2012 over 2011’s totals

January 15, 2013February 16, 2013

Market Activity Jan 7-13, 2013

As much as I love the holidays, I also love getting back at it with the new year. Yep, my phone is ringing!

Lake Oswego there were 7 new listings, 15 pending sales, and 8 closed sales.

Here are further details on last week’s Market Activity:

NEWLY LISTED (Jan 7-13, 2013)

Address	Type	Price	BR	Bths	SF
66 Oswego Summit	Condo	$74,900	1	1	764
668 McVey Ave #35	Condo	$156,500	1	1	656
980 C Ave	Detached	$415,000	3	2	1312
607 Ash St	Detached	$550,000	3	2.5	2200
4033 Westbay Rd	Detached	$1,195,000	4	3.5	3691
13400 Fielding	Detached	$1,600,000	3	1.5	3189
448 Country Club Rd	Detached	$1,795,000	4	3.5	4873

PENDING SALES (Jan 7-13, 2013 2012)

Address	Type	Price	BR	Baths	SF	DOM
55 Oswego Summit	Condo	$64,000	1	1	721	246
620 Middlecrest Rd	Detached	$249,000	2	1	884	20
5099 Galen St	Detached	$249,000	4	2.5	2246	109
232 Greenridge Dr	Attached	$257,000	3	2	1492	125
16909 Tracy Ave	Detached	$279,950	4	2	1499	88
6438 Frost St	Detached	$319,900	3	2.5	2205	3
3545 Upper Dr	Detached	$334,000	3	2	1350	101
1572 Highland Dr	Detached	$334,500	3	2	1950	6
18275 Pilkington Rd	Detached	$349,423	3	2	2088	9
5675 Childs Rd	Detached	$369,900	2	2.5	1644	87
2390 Greentree Rd	Detached	$429,000	3	2.5	2380	6
1231 Bayberry Rd	Detached	$439,000	3	2	1980	17
17702 Overlook Circle	Detached	$465,900	5	2.5	3490	32
539 2nd St #108	Condo	$469,000	2	2	1339	27
18175 Pilkington Rd	Detached	$574,900	4	3.5	3164	13

SOLD (Jan 7-13, 2013)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
34 Cervantes Cir 4-F	Condo	$119,500	$110,000	912	21
5225 Jean Rd #314	Attached	$159,900	$155,000	1500	139
44 Greenridge Ct	Attached	$209,900	$194,000	1996	407
668 McVey #72	Condo	$279,500	$250,000	1184	76
18892 Indian Springs Cir	Detached	$329,000	$278,250	1611	129
17970 Saint Clair Dr	Detached	$467,950	$460,000	2,549	157
1 Dover Way	Detached	$799,000	$775,000	3559	32
8 Dover Way	Detached	$975,000	$950,000	6244	89

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

January 12, 2013January 12, 2013

Open Houses for 1/13/13

Tomorrow will be cold, but clear. A great day to see some houses. There are 18 scheduled on the RMLS Open House Tour. Have a great weekend!

Address	Type	Price	BR	Baths	Open
47 Eagle Crest Dr #42	Condo	$104,500	2	1	1 to 3
4263 Harvey Way	Detached	$349,000	3	2	1 to 4
1670 Fircrest Dr	Detached	$425,000	4	3	1 to 3
1429 Greentree Circle	Detached	$459,500	4	2.5	2 to 4
17802 Treetop Ln	Detached	$529,000	4	3.5	1 to 3
15655 Fieldstone Dr	Detached	$589,500	4	2.5	1 to 3
5533 Fieldstone Ct	Detached	$599,500	4	2.5	1 to 3
18096 Pilkington Rd	Detached	$599,900	3	2.5	1 to 3:30
12424 Orchard Hill Rd	Detached	$599,950	3	3	1 to 4
1015 Southshore Blvd	Detached	$638,500	4	3	2 to 4
4102 Chad Dr	Detached	$672,000	4	2.5	1 to 4
831 Northshore Rd	Detached	$800,000	3	2.5	1 to 4
16805 Scott Ct	Detached	$892,000	4	3.5	2 to 4
329 10th St	Detached	$949,980	4	2.5	1 to 3
2070 Wembly Park Rd	Detached	$998,000	5	4.5	1 to 3
1217 Lake Front Rd	Detached	$1,195,000	3	2.5	2 to 4
112 Northshore Cir	Detached	$1,650,000	3	3.5	11 to 4
5501 Rachel Ln	Detached	$749,800	4	2.5+.5	1 to 3

January 10, 2013January 10, 2013

Babica Hen

Lake Oswego enjoys several really nice breakfast restaurants. The fresh pastries and fluffy omelets at La Provence are legendary. St. Honore opened next to Millennium Plaza Park recently, bringing amazing Croque Messieurs and Croque Madames (yum!), but these two fine establishments are now going to have some fierce competition. Babica Hen is in town.

Located next to Gubanc’s (at 15964 Boones Ferry Rd), it’s right in the heart of downtown Lake Grove.

The owner’s are the same people who own Gubanc’s, which is pretty much a restaurant institution here in LO. So it makes sense that they know what they’re doing. Whereas Gubanc’s is more of a lunch and dinner restaurant, Babica Hen specializes in breakfast with a few lunch options.

The menu is amazing. Le Waffle Lyonnaise (black forest ham, egg, arugula, and tarragon hollondaise), the Lemon Berry Crumble Waffle (Amaretto blueberries, lemon marscarpone, and brown sugar crumble), 3 different eggs Benedicts (tomato, smoked pork, and dungeness crab), prawns and polenta, and the well-named Iron Miner’s Breakfast (potato hash, eggs, roasted tomato, carmelized onion, cheddar, chorizo gravy, bacon AND maple sausage), are just a sampling. Seriously, the menu is huge and creative.

Prices are reasonable with waffles at $9, the Iron Miner’s Breakfast at $11, and the most expensive thing on the menu for $13 being Champagne Oysters (yes, this is what I had, fantastic).

Are you hungry yet?

I highly recommend giving Babica Hen a try. Be prepared to wait. The parking lot is pretty much packed, but the kitchen is efficient and service is quick. Last Sunday at 10am, my wait was about 15 minutes.

Hours are Tuesday thru Sunday from 7am to 3pm, closed on Mondays.

Enjoy!
Dianne

January 8, 2013

Market Activity~Dec 31, 2012-Jan 6, 2013

Happy New Year!
Activity is good with 7 New on the market, 8 Pending and 8 Sold during the last 7-day period in Lake Oswego.
You will notice, if you search for yourself, quite a few more that appear to be “New” on the market, but these are “refreshed” listings. Dianne and I like to present just the actually “New” properties coming on the market as reflected for you below.

Here are further details on last week’s Market Activity:

NEWLY LISTED (Dec 31, 2012-Jan 6, 2013)

Address	List Price	# Beds	# Baths	Total SF	Prop Type
86 KINGSGATE RD E201	$96,300.00	2	2	938	CONDO
47 EAGLE CREST DR #42	$104,500.00	2	1	932	CONDO
18275 PILKINGTON RD	$329,423.00	3	2	2088	DETACHD
1572 HIGHLAND DR	$334,500.00	3	2	1950	DETACHD
2390 GREENTREE RD	$429,000.00	3	2.1	2380	DETACHD
19310 RIVERWOOD LN Lt 9W	$639,900.00	5	4	3110	DETACHD
1972 CHERYL CT	$1,999,999.00	5	4.1	6952	DETACHD

PENDING SALES (Dec 31, 2012-Jan 6, 2013 2012)

Address	List Price	# Beds	# Baths	Total SF	Prop Type	CDOM
4000 CARMAN DR #21	$94,500.00	2	2	885	CONDO	72
47 EAGLE CREST DR #C31	$99,000.00	2	1	1009	CONDO	88
5195 FIRWOOD RD	$196,000.00	3	2	1886	DETACHD	246
4231 WOODSIDE CIR	$267,500.00	3	2	1943	ATTACHD	174
6474 FROST ST	$304,900.00	4	2.1	2216	DETACHD	110
6450 FROST ST	$314,900.00	4	2.1	2216	DETACHD	111
4231 SUNSET DR	$369,900.00	3	2	2229	DETACHD	122
17002 CRESTVIEW DR	$395,000.00	3	2.1	2163	DETACHD	34

SOLD (Dec 31, 2012-Jan 6, 2013)

Address	O/Price	Close Price	# Beds	# Baths	Total SF	Prop Type	CDOM
6207 HARRINGTON AVE	$199,900.00	$211,000.00	3	1	960	DETACHD	3
18807 SW KRISTI WAY	$269,900.00	$248,000.00	3	1.1	1256	DETACHD	6
18444 TUALATA AVE	$299,000.00	$252,000.00	3	2	1192	DETACHD	206
1180 HALLINAN CIR	$325,000.00	$300,000.00	3	2	1590	DETACHD	0
5682 CHARLES CIR	$549,000.00	$529,000.00	4	2.1	3052	DETACHD	119
5047 WOODCREST LN 7east	$679,336.00	$698,690.00	4	3.1	3602	DETACHD	0
1655 EDGECLIFF TER	$1,175,000.00	$1,125,000.00	4	3.1	3416	DETACHD	182
18402 OLD RIVER LNDG	$1,695,000.00	$1,451,250.00	4	4.1	4547	DETACHD	504

January 5, 2013

Open Houses ~ Jan 6, 2013

Enjoy these 10 Open Houses in Lake Oswego Sunday!

Address	L/Price	# Beds	# Baths	Total SF	Time
16909 TRACY AVE	$279,950	4	2	1499	12-3PM
4263 HARVEY WAY	$349,000	3	2	1640	1-3PM
15655 FIELDSTONE DR	$589,500	4	2.1	2750	1-3PM
5533 FIELDSTONE CT	$599,500	4	2.1	3115	1-3PM
13282 BOONES FERRY LN	$599,900	4	2.1	3267	1-3PM
18096 Pilkington RD	$599,900	3	2.1	3182	1-3PM
1579 BAY VIEW LN	$675,000	4	3	4665	1-3PM
329 10TH ST	$949,980	4	2.1	3647	1-3PM
310 IRON MOUNTAIN BLVD	$1,100,000	4	2.1	3503	1-3PM
1677 LESLIE LN	$1,840,000	4	6.1	7534	1-3PM

January 4, 2013January 4, 2013

A New Year!

Greetings to all of our loyal and new Property Blotter readers!

As we enter our 5th year of publishing this insiders’ look at the Lake Oswego community and Real Estate scenes, we want to take a moment to thank you so much for your interest and patronage through the years! Dianne and I are as committed as ever to bringing you the micro-focused real estate information you count on, and also the perspective of Lake Oswego as part of the larger Portland Metro Area from time to time. Context is good… at least we think so : )

We both specialize in Lake Oswego property, considering the time we’ve spent living and working here, and we both also have been working all over the Greater Portland Area for many, many years, so please remember us if you know someone who needs a really experienced and reliable Realtor for any property “selling or buying adventure” in this larger geographic area!

Though our lives have changed through the years, the Property Blotter has remained constant, and we hope that you enjoy it as much as we do. Recently we have made one BIG change, and that is that we are now working with Oregon First Real Estate Company! A change like this is the kind of thing that only occurs once in a very great while, and while we have been very pleased with our previous affiliation and will miss those with whom we’ve worked closely for some time, we are thrilled to be joining this vibrant, established local company with offices all over the Portland area and Vancouver!

Just for fun, I’ve pasted below our very first post from 2008, and after reading it, am feeling both nostalgic, and satisfied with the work we’ve committed ourselves to, and all we’ve accomplished with so many of you.

Happy New Year to each of you…. We toast YOU in 2013!

Welcome to the premier edition of the Property Blotter!

This blog is intended to be a fun and useful forum pertaining to real estate issues in the City of Lake Oswego. It will bring you information that directly reflects current market conditions.

It will also provide you with history of the area and insights into Lake Oswego’s vibrant community. You will find plenty of statistics and details about houses currently for sale and recently sold. You will also find neighborhood profiles and featured homes. And, yes, you’ll get commentary on local events and neighborhood happenings.

What you will not find is endless self-promotion and unneeded advertising. This is going to be a place to learn about Lake Oswego real estate and not a place that will waste your time. We don’t care for that sort of thing any more than you do.

And just who are we and why do we have any right to be doing this? We are Realtors who have each lived in Lake Oswego for some time and have been directly a part of this community. Between us we have 30 years of experience selling real estate in this fine community. Between us we have lived in Lake Oswego for 20 years. Our children have attended school here. We participated in sports here. We volunteered with local non-profits here. We know this town.

Lake Oswego is an amazing place to live. It is also seriously misunderstood. Yes, there are million-dollar homes in Lake Oswego. But more than money, Lake Oswego is a town that has people who care. It has always had great schools and so attracts families looking for excellent public schools. There are modest homes as well as lakeside estates.

If we are doing our job right, you’ll come away from this blog feeling like you know a bit more about what prices of homes are like, what is going on with local businesses, and what it is about LO that makes it a great place to live and to work. If you currently live here, you’ll know more about what your home may be worth. If you are thinking about moving here, you’ll know more about what to expect when you buy a home and what this community is like as a place to live.

So come along with us on this “blog-mobile”. It is going to be a great journey.

December 31, 2012January 4, 2013

Market Activity Dec 24-30, 2012

Market Activity for last week brought just 1 new listing, 3 pending sales, and 7 closed sales. Expect the real estate market to start picking up as we move into the New Year.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Dec 24-30, 2012)

Address	Type	Price	BR	Bths	SF
115 Touchstone Ter	Attached	$355,000	3	3.5	2884

PENDING SALES (Dec 24-30,2012 2012)

Address	Type	Price	BR	Baths	SF	DOM
5059 Foothills Dr F	Condo	$165,000	2	2	997	31
44 Greenridge Ct	Attached	$199,900	3	2.5	1996	407
5880 Rockwood Ct	Detached	$275,000	3	2	1772	260

SOLD (Dec 24-30,2012)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
39 Crestfield Ct	Condo	$49,900	$52,000	689	119
668 McVey Ave #75	Condo	$214,000	$135,000	626	402
4270 Oakridge Rd	Detached	$275,000	$267,500	978	143
232 6th St	Detached	$335,000	$335,000	1389	0
18238 Terry Ave	Detached	$359,000	$340,000	1570	43
14062 Goodall Rd	Detached	$1,499,000	$1,400,000	6,074	39
2700 Summit Dr	Detached	$1,800,000	$1,753,875	4472	0

December 29, 2012

Open Houses for December 30, 2012

For the last Sunday of 2012, there are just 2 houses scheduled to be held open. Enjoy.

Address	Type	Price	BR	Baths	Open
4231 Woodside Circle	Attached	$274,500	3	2-Jan	1 to 3
1659 Oak St	Detached	$379,500	3	2.5	1 to 3:30

Tag: real estate

Open Houses ~ Jan 20, 2013

News & Notes