Tag: sales

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News & Notes

Real Estate Notes:

Tax Credit Extension Update: Well, most expected HR 4213 to pass the Senate, but it was rejected in a test vote on Monday 52 – 45.  This bill would have extended the mandatory closing deadline for real estate closings to September, thereby cutting some slack to the many Buyers, Escrow officers and Lenders who are working their way through the morass… all with the same deadline.  There is a real concern that as next Wednesday approaches, the bottleneck will strangle many of these deals due to sheer volume and limited capacity and resources to finish on time.

As of today, June 24th, the Senate will “continue considering” the bill, and a number of amendments.  This bill also includes other considerations including extending unemployment benefits, and will reportedly add 80 billion to the deficit. This is the reason being given for it’s defeat in the test vote on Monday in it’s then-current form.

Community News:

Community-Wide Garage Sale! Get ready to say goodbye to those items you no longer need in your home.  To someone else they will be a “find”!  Register your sale and your location will be mapped with your sale items listed.  Free to Lake Oswego citizens, and Free publicity to boot!    The event is July 10th from 8AM till 3PM.  You have until June 28th to register. Click Here

The Sensitive Lands debate has been quite high profile for some time now, with citizens very concerned on all sides of the issue… concerned with how properties will be affected; concerned about how the natural landscape will be affected; concerned about how local government is handling an issue so important to citizens and the environment alike.   The Second Look Task Force is completing their review of the environmental and regulatory purposes, and providing recommendations for changes that increase flexibility & clarity, and maintain the community’;s committment to the natural environment.  If you’d like to know how you can provide input, Click Here.  (All meetings except for July 10th will be televised live beginning at 6:30 PM on TVCTV Channel 23 or 28.)

Herbicides on Lake Front: From July 21 – 25 aquatic herbicides will be applied to shorelines along the main lake and Blue Heron Canal.  For more information call Casey Deck at 503 636 1422.

Take A Free Tour! Have you been wanting to learn more about all of those sculptures & works of art you see around town?  You can enjoy a walk with a Docent who will show you many of them in Lake Oswego’s “Gallery Without Walls”.  Learn what the artist was thinking and how the piece was crafted. Tours are scheduled for June 25, 26, and 27 from 11AM till noon and 3PM till 4PM.  No reservations are required.  Proceed to the front of St. Honore Bakery at 315 1st St. next to Millenium Park Plaza.  For more information call 503 675 3738.

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Market Activity Report for June 14-20, 2010

Last week brought 16 new listings, 14 pending sales, and 12 closed sales. I think what I find most interesting is the CDOM (cumulative days on the market). It does seem that things are selling either really fast or really slowly. Correct pricing is what makes the difference! And notice the house on Polonius: it not only sold in 8 days, but for $15,000 over the asking price. Yes, this may have reflected built in costs for closing costs or some other concession, but it is still a rare event in this economy. And it does mean that the seller had an eager buyer who was not haggling the price down.

Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (June 14—20, 2010)

Address List Price Total Br Total BTHS SQ FT Prop Type
222 RIDGEWAY RD $125,000 1 1 756 CONDO
139 TOUCHSTONE CT $279,900 2 2 + .5 1,846 ATTACHD
4321 WOODSIDE CIR $289,000 3 2 1,532 ATTACHD
17683 ARBOR LN $339,900 3 2 1,946 DETACHD
1117 HEMLOCK ST $349,900 3 2 1,680 DETACHD
18651 DON LEE WAY $384,900 4 2 1,630 DETACHD
15012 TWIN FIR RD $399,000 5 2 3,532 DETACHD
15008 TWIN FIR RD $399,000 5 2 3,372 DETACHD
524 2ND ST 439000 2 2 + .5 1,547 CONDO
17681 LEAFY LN 449000 4 3 2,242 DETACHD
10 HILLSHIRE DR 549900 4 3 3,152 DETACHD
6 MORNINGVIEW LN 659000 4 3 3,998 DETACHD
116 3RD ST 675000 2 1 915 DETACHD
649 9TH ST 819000 3 2 + .5 2,852 DETACHD
1250 SUNNINGDALE RD 825000 5 3 + .5 4,073 DETACHD
245 CHANDLER PL 949850 4 2 + .5 + .5 3,733 DETACHD

PENDING SALES (June 14-20, 2010)

Address List Price Total BR Total BTHS SQ FT Prop Type CDOM
5225 JEAN RD $155,000 2 2 1,400 CONDO 28
4224 HAVEN ST $269,900 4 2 2,752 DETACHD 39
3388 EDGEMONT RD $279,900 3 2 + .5 1,968 DETACHD 283
17518 REDFERN AVE $355,000 3 2 1,831 DETACHD 715
540 2ND ST $410,000 2 2 + .5 1,520 CONDO 870
17845 SARAH HILL LN $417,000 4 2 + .5 2,970 DETACHD 9
53 D AVE $435,000 3 3 2,211 DETACHD 518
17387 CANYON DR $479,000 3 2 + .5 1,955 DETACHD 11
4089 MELISSA DR 524900 4 2 + .5 2,710 DETACHD 9
5678 CHARLES CIR 525000 3 4 3,455 DETACHD 495
18282 ANDUIN TER 625000 4 2 + .5 3,765 DETACHD 1
14370 PFEIFER DR 669000 4 2 + .5 3,318 DETACHD 12
11 HILLSHIRE DR 825000 4 2 + .5 3,415 DETACHD 33
18735 BRYANT RD 909900 5 3 + .5 5,323 DETACHD 149

SOLD (June 14-20, 2010)

Address Original Price Close Price Prop Type SQ FT CDOM
109 OSWEGO SMT $144,900 $141,900 CONDO 1212 47
12846 SW BOONES FERRY RD $225,000 $199,000 CONDO 1136 532
3485 DEVONSHIRE DR $264,900 $250,000 ATTACHD 1556 16
12 POLONIUS ST $246,600 $261,000 DETACHD 3275 8
136 TOUCHSTONE TER $350,000 $267,500 DETACHD 1996 243
15148 QUARRY RD $279,000 $279,000 DETACHD 1618 11
3056 WEMBLEY PARK RD $339,000 $285,000 DETACHD 2600 36
31 DA VINCI ST $399,900 $352,000 DETACHD 2232 249
1545 CLOVERLEAF RD 579950 $535,000 DETACHD 2723 59
13090 KNAUS RD 995000 $600,000 DETACHD 5578 357
5218 WESTFIELD CT $699,500 $607,000 DETACHD 3125 284
13081 KNAUS RD 1795000 $1,400,000 DETACHD 3269 58

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 in LO for Sunday June 6th, 2010

There will be 27 open houses in Lake Oswego this Sunday (according to the RMLS). We are actually getting a break in the rain this weekend, so it should be a nice afternoon for touring the town and seeing some beautiful homes.

Address List Price Year Built BR BTH Prop Type Open
1400 BONNIEBRAE DR $183,500 1969 2 1 ATTACHD 1 to 4
4490 LAKEVIEW BLVD $325,000 1955 3 2 DETACHD 12 to 2
14433 HOLLY SPRINGS RD $364,950 1998 4 2 + .5 DETACHD 1 to 3
4971 SUNTREE LN $378,000 1988 3 2 + .5 DETACHD 1 to 4
2697 LOOKOUT CT $429,000 1972 3 2 DETACHD 10 to 11:30
950 LAKE FRONT RD $439,000 1975 3 2 + .5 DETACHD 12 to 2
13340 AUBURN CT $450,000 2005 3 2 + .5 ATTACHD 2 to 4
5475 WILLOW CT $474,900 2008 3 2 + .5 ATTACHD 1 to 3
17802 HILLSIDE WAY 475000 1974 4 2 + .5 DETACHD 1 to 4
975 SOUTHSHORE BLVD 479900 1990 3 2 + .5 DETACHD 1 to 3
9 WESTMINSTER DR 519000 1976 5 2 + .5 DETACHD 1 to 3
5678 CHARLES CIR 525000 1985 3 4 DETACHD 1 to 4
19415 SW DOGWOOD CT 539900 2010 5 3 DETACHD 1 to 5
363 6TH ST 549900 2009 2 3 + .5 ATTACHD 1 to 4
4 INDEPENDENCE AVE 564900 1969 4 3 + .5 DETACHD 1 to 3
17769 OVERLOOK CIR 579900 1966 5 3 + .5 DETACHD 1 to 3
4184 SUNSET DR 589000 1965 6 3 DETACHD 1 to 3
13265 FOX RUN 680000 1984 3 2 + .5 + .5 DETACHD 1 to 3
12439 SW 22ND AVE 899900 2004 4 3 + .5 DETACHD 2 to 4
18222 SIENA DR 1088000 2010 6 4 + .5 DETACHD 12 to 2
18020 SKYLAND CIR 1098000 1972 4 3 + .5 DETACHD 1 to 4
18209 SIENA DR 1178950 2009 5 3 + .5 DETACHD 12 to 2
18143 SIENA DR 1197000 2009 5 4 + .5 DETACHD 12 to 2
1808 RIDGE POINTE DR 1269000 2010 5 4 + .5 DETACHD 12 to 2
18246 BELLA TERRA DR 1294000 2009 4 3 + .5 DETACHD 12 to 2
3118 DOUGLAS CIR 1440000 2007 3 2 + .5 DETACHD 12:30 to 3
4700 SW DOGWOOD DR 1499900 2005 5 3 + .5 DETACHD 2:20 to 4
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News & Notes

The City of Lake Oswego is mourning the unexpected passing of it’s beloved Police Chief, Dan Duncan. There will be a memorial service June 4th, 1:00PM at the Rolling Hills Community Church.  Flags in the city will be at half-mast from now until that date.  His family has set up a Memorial Site with photos and information. Well-wishers may leave messages there for them.

The Willamette Shore Trolley is up & running! This has been one of my favorite things to do with visitors to Lake Oswego for many, many years.  I have photos of beloved family members and I enjoying the ride to & from Portland that I will always cherish.  Make your own memories as the train winds along the waterfront & through the trees & neighborhoods that line this historic passage between the two cities.  This route is also the one being considered for a possible streetcar!   For a schedule of times & fares call 503 697 7436, or visit the Website.

The latest Market Activity Report for Portland Metro produced by RMLS shows the following data:

  • Comparing April 2010 with April 2009:  Closed Sales increased 49.1%, and Pending Sales rose 60.8% with New Listings going up by 23.8%
  • When comparing April 2010 with March 2010, the average sale price rose just 0.6%
  • Comparing January – April 2010 with the same period in 2009, Closed Sales increased 41.4%, with Pending Sales rising by 46.3% and New Listings by 15.4%
  • April’s Total Market Time for Portland Metro was: 127 days
  • Lake Oswego and West Linn’s Total Market Time was: 147 days
  • Lake Oswego and West Linn’s Average Sales Price (RMLS lumps the two areas together) was $502,800.
  • Lake Oswego and West Linn posted 101 Closed Sales in April with 1066 Active Listings
  • Lake Oswego and West Linn saw a 113.8% increase in Pending Sales April 2010 compared to April 2009
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Market Activity for May 17-23, 2010

The housing market in Lake Oswego included 19 new listings, 15 pending sales, and 14 closed sales. You will probably notice some categories moved/missing/changed. Linda and I use a macro in excell to develop these charts. RMLS has made technical changes that are affecting our macro, which we need to re-work. Thanks for your patience while we get the kinks ironed out. I think the basic data is here.

Here is your weekly update (see below the tables for additional notes):

NEWLY LISTED (May 17—23, 2010)

Address List Price # BR SF Up+Mn Prop Type
322 CERVANTES CIR $85,000 2 832 CONDO
512 S STATE ST $129,900 1 829 CONDO
668 MCVEY AVE $149,000 2 976 CONDO
16515 INVERURIE RD $299,000 3 1,772 DETACHD
16808 INVERURIE RD $299,900 3 1,182 DETACHD
14372 CAMDEN LN $448,500 3 2,348 DETACHD
1462 GREENTREE CIR $449,900 4 2,507 DETACHD
8 MORNINGVIEW CIR $529,900 3 2,217 DETACHD
230 4TH ST 619900 3 2,165 DETACHD
13265 FOX RUN 680000 3 2,614 DETACHD
17632 WOODHURST PL 699900 5 – DETACHD
17970 ROYCE WAY 799000 4 2,713 DETACHD
19000 BRYANT RD 965000 5 5,874 DETACHD
1425 CHANDLER RD 978000 4 2,204 DETACHD
1235 CHANDLER RD 985000 5 2,044 DETACHD
17301 BERGIS FARM DR 1060000 4 – DETACHD
2569 GLEN EAGLES PL 1349000 5 4,591 DETACHD
13900 GOODALL RD 1600000 5 4,282 DETACHD
1973 CHERYL CT 1695000 5 4,396 DETACHD

PENDING SALES (May 17-23, 2010)

Address List Price # BR Sq Ft SF Up+Mn Prop Type CDOM
100 KERR PKWY $77,500 2 823 823 CONDO 66
100 KERR PKWY $92,500 2 823 823 CONDO 27
3433 SW MCNARY PKWY $123,900 2 1008 1,008 CONDO 98
32 CERVANTES CIR $129,500 2 1092 912 CONDO 160
136 TOUCHSTONE TER $279,000 3 1996 1,198 DETACHD 243
729 3RD ST $295,000 4 1671 1,671 DETACHD 10
4313 ALBERT CIR $367,900 3 1790 1,790 DETACHD 14
1255 BAYBERRY RD $375,000 3 1901 1,901 DETACHD 253
1400 LEE ST 421500 4 2804 1,514 DETACHD 146
24 PARTRIDGE LN 449000 4 3224 3,224 DETACHD 40
675 10TH ST 490000 4 2280 1,272 DETACHD 374
14158 KIMBERLY CIR 530000 5 3548 3,648 DETACHD 18
1158 BAYBERRY RD 649000 4 2386 2,386 DETACHD 10
1703 VILLAGE PARK LN 749000 3 3450 3,450 DETACHD 156
1414 COUNTRY COMMONS 945000 4 5679 3,082 DETACHD 68

SOLD (May 17-23, 2010)

Address Closed Price Original Price #BR Sq Ft Prop Type CDOM
65 OSWEGO SMT $118,000 $129,900 2 1,140 CONDO 8
5051 FOOTHILLS DR $169,900 $210,000 2 991 CONDO 248
750 1ST ST $178,000 $195,000 2 1,350 CONDO 73
5056 FOOTHILLS DR $257,000 $299,900 2 1,252 CONDO 194
19032 KRISTI WAY $262,000 $259,900 2 1,390 DETACHD 7
4420 GOLDEN LN $295,000 $279,900 3 2,165 CONDO 391
119 3RD ST $350,000 $429,900 3 1,204 CONDO 187
5299 LAKEVIEW BLVD $365,000 $399,900 4 2,165 DETACHD 594
2440 OVERLOOK DR $480,000 $525,000 4 3,874 DETACHD 36
815 COUNTRY COMMONS LN $494,500 $595,000 4 2,376 DETACHD 83
3115 ROSEMARY LN $513,000 $599,900 3 3,324 DETACHD 244
17388 CEDAR RD $575,000 $875,000 2 2,134 DETACHD 402
18125 WESTMINSTER DR $658,000 699888 5 3,969 DETACHD 344
356 9TH ST $1,070,000 $1,275,000 4 3,647 DETACHD 98

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

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News & Notes

Real Estate News ~

Have a wood stove?  Planning to buy or sell a home with one? Note that beginning August 1st, 2010, in an effort to control emissions from smoke, when selling a home you will be required to remove the wood stove if it is “uncertified” by the DEQ.  Here is a link for more information: Woodstoves in Oregon

Greece and Mortgage Rates – MBS Quoteline reports: ” Despite stronger than expected economic data, the financial situation in Greece held the greatest influence on mortgage rates this week. A flight to quality and prospects of slower economic growth in Europe were favorable for mortgage markets and negative for the stock market, and mortgage rates ended the week lower.”

Current Mortgage Rates and Mortgage Insurance Updates – According to Pat Goodell of Academy Mortgage:

  • “Some of the Mortgage Insurance companies have gone to tiered pricing based on credit scores which is good news to those with good credit scores.  Mortgage insurance companies also will now allow “up front mortgage insurance” (in lieu of monthly mortgage insurance) to be paid by the seller.  The potential advantage of this is that the seller can pay the up front mortgage insurance as part of any allowable closing costs that a buyer might negotiate for a seller to pay.  Then the buyer has no mortgage insurance premium to pay as part of their mortgage – this may or may not be an advantage to the buyer depending on their situation; but it does help for qualifying by reducing their monthly mortgage payment.  There are qualifying parameters for this option and the lender also has to approve this option as well.”
  • “Interest rates are holding steady now with the 30-yr fixed still hovering around 5% — 30-yr fixed today is actually available at 4.875% with 0 pts, depending on the buyer’s qualifications.”

    • Community Notes ~

    Farmers Market opens this Saturday, May 15th in Lake Oswego. (yay!)  This is the 10th Anniversary Celebration.  You can find the food  & fun at Millennium Plaza Park from 8:30AM – 1:30PM on Saturdays through October 9th.   Local musical group, Southern Nights, will perform from 10:30AM till 12:30PM at the kickoff, and the Bike Gallery will be there to check your kids’ helmets!

    May is Sustainability Action Month. Take advantage of these local events:

    • Free screening of the film Deep Green with local film-maker Matt Briggs. This is an insightful look at “uncovering the best people with the best solutions for “de-carbonizing energy and restoring the natural world.” It will be held Saturday evening, May 15th at 7:30Pm at the Lake Grove Presbyterian Church, 4040 Sunset Drive.  Bring your family and friends!
    • Get a good look at Lake Oswego’s Century Trees on the Century Tree Bike Ride, May 22nd.  The bike ride is hosted by the Planning Dept.’s Green Team, and more information can be had by contacting Laura Weigel at Lweigel@ci.oswego.or.us .

    Lake Oswego’s city council created the Sustainability Action Board (SAB) in 2008. For more information on sustainability, visit: The Sustainability Resource Page

    To Move or Not To Move / Lifestyle Options for Older Adults , an educational program for seniors and their families is designed to give information on housing options and resources in Lake Oswego.  You are invited to attend on May 16th, from 2:00PM to 5:00Pm at the Lake Oswego Adult Community Center, 505 G Avenue.

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    News & Notes

    Real Estate News ~

    House Set to Extend Rural Home Loan Guarantee Program – A unanimous vote by the House Financial Services Committee will send the Rural Housing and Stabilization Act of 2010 to the full House of Representatives where it is said that it has been fast tracked for a vote as early as next week.  Passing HR5017 will continue the availability of government guaranteed mortgages for rural home-buyers.  If passed it will correct section 502 of the Single family Housing Guaranteed Loan Program to make it self-funding. Section 502 assists home-buyers living in rural areas to obtain affordable mortgages guaranteed by USDA.  There has been great concern of late at announcements that there were no more funds for this program, so this is a welcome announcement for many. You must qualify credit-wise of course, and have reliable and adequate income.  The average guarantee in 2009 was for $112,000.

    Lock Box Activity – According to RMLS, when comparing the week of April 5th through April 11th with the week prior, the number of times a lock box was opened increased 33% in Washington and 26.6% in Oregon.  Spring is in the air!

    Community ~

    Shred Day! Bring your shred-able items in to the West End Building on May 1st & protect your identity while you recycle. Credit Cards, staples, paper clips and rubber bands are all said to be acceptable.  Up to three boxes per person will be accepted, and all are encouraged to bring cans of food to support the Oregon Food Bank.  10:00 AM till 1:00 PM or until the truck is full!

    I LOVE LOPR  Video Challenge – Lake Oswego Parks & Recreation is asking all those who love our parks to grab a camera and illustrate why!  Take a photo of your favorite event, your favorite park, your favorite park activity… the list is endless.  Details can be found HERE The list of prizes and sponsors is growing.  Sign up for the challenge, OR sign up to be a sponsor.

    Child Safety Seat Clinic – Come & make sure you know how to install your child’s safety seat property. This clinic will take place May 1st from 10:00 AM till 2:00 PM at 300 B Avenue/The Main Fire Station.  Each seat takes about 30 minutes to check.  Come and spend some time building peace of mind.

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    Lake Oswego Real Estate: Market Activity April 19-25, 2010

    Lake Oswego market activity for last week brought us 22 new listings, 21 pending sales, and 8 closed sales. Here is your weekly update (see below the tables for additional notes):

    NEWLY LISTED (April 19—April 25, 2010)

    Address List Price # BR # BTHS Total SF Prop Type List Date
    47 EAGLE CREST DR $110,000 2 2 932 CONDO 4/25/2010
    115 OSWEGO SMT $170,000 2 2 1,212 CONDO 4/21/2010
    218 RIDGEWAY RD $200,000 2 1 914 CONDO 4/23/2010
    3892 BOTTICELLI ST $239,900 3 2 1,288 CONDO 4/22/2010
    4490 LAKEVIEW BLVD $325,000 3 2 1,727 DETACHD 4/21/2010
    4841 SE DAWN AVE $335,000 3 0.2 1,550 DETACHD 4/22/2010
    15144 BOONES WAY $369,000 4 3.1 2,194 DETACHD 4/21/2010
    5376 ROSEWOOD ST $394,900 3 2.1 2,457 ATTACHD 4/20/2010
    12409 SHELBY CT 449900 3 2 2,238 DETACHD 4/20/2010
    4859 SAGE HEN WAY 459000 4 3 2,417 DETACHD 4/21/2010
    17640 TREETOP WAY 524995 4 3 2,692 DETACHD 4/22/2010
    3718 LAKE GROVE AVE 549000 4 3 2,523 DETACHD 4/19/2010
    4080 Coltsfoot 569950 4 2.1 2,884 DETACHD 4/19/2010
    5774 BAY POINT DR 625000 5 2.1 3,674 DETACHD 4/23/2010
    133 FURNACE ST 629000 2 2.1 1,927 CONDO 4/23/2010
    17754 TREETOP LN 649000 5 3.1 3,668 DETACHD 4/20/2010
    14120 REDWOOD CT 669000 4 2.1 2,755 DETACHD 4/19/2010
    16461 CHAPIN WAY 799900 4 2.1 4,271 DETACHD 4/24/2010
    4288 LAKEVIEW BLVD 950000 3 2 2,141 DETACHD 4/22/2010
    17951 MEADOWLARK LN 1295000 4 3.2 5,065 DETACHD 4/20/2010
    1972 CHERYL CT 2590000 5 4.1 6,952 DETACHD 4/22/2010
    1617 LAKE FRONT RD 3950000 4 4.1 4,610 DETACHD 4/25/2010

    PENDING SALES (April 19 – April 25, 2010)

    Address List Price # BR # BTHS Total SF Prop Type CDOM
    4000 CARMAN DR $142,000 2 2 973 CONDO 58
    109 OSWEGO SMT $144,900 2 2 1,212 CONDO 36
    1597 BONNIEBRAE DR $199,900 2 1 998 ATTACHD 46
    200 BURNHAM RD $268,000 2 2 1,328 CONDO 942
    55 NORTHSHORE RD $275,000 1 1 1,478 CONDO 735
    5756 KENNY ST $325,000 3 2.1 1,542 DETACHD 56
    627 1ST ST $339,500 2 2 2,090 DETACHD 145
    31 DA VINCI ST $362,500 4 2.1 2,232 DETACHD 249
    25 CHURCHILL DOWNS 385000 4 3 2,195 DETACHD 0
    16200 PACIFIC HWY 388900 2 2 1,208 CONDO 802
    3075 ROYCE WAY 395000 4 3.1 3,667 DETACHD 156
    827 5TH ST 425000 3 2 2,124 DETACHD 86
    1400 LEE ST 427500 4 3 2,804 DETACHD 117
    17622 BROOKHURST DR 493000 3 2.1 2,909 DETACHD 42
    2650 LOOKOUT CT 495000 4 3.1 3,480 DETACHD 8
    5711 SOUTHWOOD DR 539000 4 3 2,655 DETACHD 6
    1545 CLOVERLEAF RD 579950 4 3.1 2,723 DETACHD 59
    2109 WEMBLEY PARK RD 649900 5 3 3,129 DETACHD 2
    18125 WESTMINSTER DR 699888 5 3.1 3,969 DETACHD 244
    4211 CHAD DR 874900 5 3.1 3,937 DETACHD 268
    3114 DOUGLAS CIR 1395000 4 4 5,420 DETACHD 528

    SOLD (April 19- April 25, 2010)

    Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
    852 5TH ST $199,000 $205,000 2 1 738 DETACHD 131
    28 WHEATHERSTONE $230,000 $219,500 3 2.1 1,692 CONDO 145
    16890 CORTEZ CT $324,900 $274,900 4 3 2,016 DETACHD 104
    1565 BEDFORD CT $429,000 $311,000 3 2 1,978 DETACHD 251
    14300 SHERBROOK PL $334,500 $334,500 3 2.1 1,924 DETACHD 141
    15921 KIMBALL AVE $389,900 $390,000 3 2 2,309 DETACHD 3
    1414 GREENTREE CIR $499,000 $435,000 4 2.1 2,330 DETACHD 37
    2688 RIVENDELL RD $835,000 $680,617 4 3 3,720 DETACHD 405

    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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    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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    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