Tag: waterfront homes

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Open Houses for 2/10/13

Lots and lots of houses to see this weekend. There are 25 on the open house tour this Sunday. Enjoy.

Address Type Price Bedroom Bath Open
1830 SW cloverleaf Rd Detached $348,000 5 2-Jan 1 to 3
15495 Tanager Dr Detached $399,900 4 2.5 1 to 3
13005 Princeton Ct Detached $413,000 3 2.5 1 to 4
2215 Fernwood Circle Detached $414,500 4 3 1 to 3
17417 Warren Ct Detached $449,900 4 2.5 1 to 4
4890 Sage Hen Circle Detached $499,900 4 2.5 1 to 3
17802 Treetop Ln Detached $529,000 4 3.5 1 to 3
15950 Parker Rd Detached $562,500 4 2.5 1 to 3
12926 Rogers Rd Detached $565,000 4 3 1 to 3
15655 Fieldstone Dr Detached $589,500 4 2.5 1 to 3
13059 Amber Pl Detached $589,800 5 3 1 to 3
12424 Orchard Hill Rd Detached $589,950 3 3 1 to 4
5533 Fieldstone Ct Detached $599,500 4 2.5 1 to 3
1015 Southshore Blvd Detached $638,500 4 3 2 to 4
720 Maple St Detached $649,000 3 2.5 1 to 3
1579 Bay View Ln Detached $649,000 4 3 1 to 3
4102 Chad Dr Detached $672,000 4 2.5 1 to 3
17363 Grandview Ct Detached $695,000 4 3.5+.5 12 to 3
5501 Rachel Ln Detached $749,748 4 2.5+.5 1 to 3
1255 Andrews Rd Detached $785,000 6 4 1 to 3
280 E Ave Detached $799,000 4 2.5 11 to 2
15150 Glen Eagles Ct Detached $799,900 3 2.5+.5 2 to 4
831 Northshore Rd Detached $800,000 3 2.5 1 to 4
329 10 St Detached $939,990 4 2.5 1 to 3
112 Northshore Circle Detached $1,650,000 3 3.5 11 to 4
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Looking Ahead at 2013

Every winter the various title companies bring in economists to forecast what the coming year is going to look like, and every year I make it a point to attend at least one of these presentations. I gotta tell you, for the last 5 years, it’s been painful. Doom and gloom and hang onto your coat tails cause it’s gonna be a wild ride. What a breath of fresh air it was two weeks ago to go to the economic outlook program put on by WFG National Title.

 

The guest speaker was Patrick Stone, the President and CEO of Williston Financial Group. I am not going to quote Mr. Stone directly as my note taking was not done verbatim. I am going to instead share with you the general idea of what I took away.

First, after the recession, as a country and as individuals, we are well positioned for economic growth. This is because the recession allowed us to restructure out debt to get rid of it and to refinance it at a lower cost. This has created more liquid assets for both consumption and savings.

Second, as a state, Oregon is uniquely positioned to do even better than the national average.

GDP for the state of Oregon was second only to North Dakota, growing at 4.7%. This was attributed to Oregon’s manufacturing sector which is quite a bit stronger than the National average.

The prediction was made that we should see continued economic growth this year and into the next few years. Bear in mind that this could change if something horrible happens such as a terrorist attack or a huge natural disaster.

Mr. Stone went so far as to suggest that our housing recovery will likely recoup the house values lost to the recession by 2016. That would mean a 20% growth in house values in the next 3 years. Personally, I feel that momentum is happening. Will it sustain? I hope so.

Mr. Stone also talked about a future housing shortage. This would happen because of our strict land use laws that make the development of new land for new construction a slow process. To have lots for new homes in 2015, that land needs to be in the development process now. And not much bare land is currently in that process. Builders suffered in the recession and just have not been positioned to have the resources to invest in land development. That is changing. New housing starts are on the rise and the builders are beginning to prosper.

The long and short of it is that with a low supply of land and a growing economy, there will likely be a housing shortage in the future. Economics 101 is about supply and demand. Low supply combined with high demand is what causes prices to go up.

No, I don’t have a crystal ball. Yes, I may be entirely wrong. But based upon what I heard at this year’s economic forecast session, 2013 should be a good year for the real estate market and that positive growth is likely to continue into the years ahead.

I sure hope so. We all deserve some good news.
Dianne

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Market Activity ~ Jan 28-Feb 3, 2013

Activity is steady with 16 New on the market, a whopping 32 Pending and 19 Sold during the last 7-day period in Lake Oswego. It was apparently “Condo Week” for accepted offers, as nearly 1/3 of those were indeed for Condos.

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

NEWLY LISTED (Jan 28-Feb 3, 2013)

Address List Price # Beds # Baths Total SF Prop Type
47 EAGLE CREST DR #30 $65,500 1 1 666 CONDO
222 CERVANTES #D $182,963 3 1 1464 CONDO
517 LAUREL ST $359,900 4 3 2834 DETACHD
19592 PERCH CT $529,950 4 2.1 2800 DETACHD
19226 MEGAN PL $549,500 3 2.1 3392 DETACHD
15950 PARKER RD $562,500 4 2.1 2611 DETACHD
524 WEIDMAN CT $649,000 4 2.1 3450 DETACHD
1670 VILLAGE PARK LN $749,500 4 2.1 3466 DETACHD
280 E AVE $799,000 4 2.1 2500 DETACHD
17775 KELOK RD $868,950 4 2.1 2882 DETACHD
17787 CARDINAL DR $899,950 4 3 3002 DETACHD
14106 Goodall RD $939,500 4 3.1 3597 DETACHD
13600 Goodall RD Lot2 $1,349,000 4 4.1 4363 DETACHD
13600 Goodall RD Lot1 $1,499,000 4 4.1 5699 DETACHD
333 NORTHSHORE RD $2,995,000 4 4.1 5150 DETACHD

PENDING SALES (Jan 28-Feb 3, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
26 CRESTFIELD CT $84,900 2 2 989 CONDO 11
47 EAGLE CREST DR #42 $98,000 2 1 932 CONDO 24
47 EAGLE CREST DR C31 $99,000 2 1 1009 CONDO 112
245 CERVANTES $110,000 2 2 1265 CONDO 10
4 TOUCHSTONE #148 $120,000 3 2.1 1351 CONDO 95
44 EAGLE CREST DR #18 $128,000 3 2 1085 CONDO 43
668 McVey AVE #35 $156,500 1 1 636 CONDO 16
4310 BOTTICELLI ST #9 $158,000 2 2.1 2098 CONDO 116
5060 FOOTHILLS DR D $239,000 2 2 1252 CONDO 7
3787 LANEWOOD ST $245,000 3 2 1300 DETACHD 275
6438 FROST ST $319,900 3 2.1 2205 DETACHD 26
6414 Frost ST $339,900 3 2.1 2205 DETACHD 125
921 G AVE $420,000 3 2.1 1527 DETACHD 4
136 D AVE $439,000 2 2.1 1754 ATTACHD 139
2709 ORCHARD HILL PL $440,000 3 2 2098 DETACHD 6
101 3RD ST $474,000 3 2 1447 CONDO 3
12820 SW ALTO PARK RD $499,000 2 1 1132 DETACHD 171
686 SUNNY HILL DR $499,900 4 2.1 2392 DETACHD 15
1021 YATES ST $500,000 3 2.1 1985 DETACHD 12
2927 TOLKIEN LN $579,000 4 2.1 2819 DETACHD 220
50 BECKET ST $595,000 4 2.1 4216 DETACHD 260
1131 DEVON LN $599,990 3 3.1 3179 DETACHD 153
2960 WEMBLEY PARK RD $695,000 4 2.1 2000 DETACHD 203
13315 HIDDEN BAY CT $700,000 5 2.1 3671 DETACHD 5
12840 SW ALTO PARK RD $750,000 2 2.1 3632 DETACHD 170
3951 CHILDS RD $769,900 4 3.1 3890 DETACHD 110
481 9 ST $879,000 4 3.1 2813 DETACHD
1291 LAKE GARDEN CT $897,500 3 3 3254 DETACHD 236
3174 DOUGLAS CIR $999,000 5 4.1 4600 DETACHD 1
18785 WESTVIEW DR $1,795,000 5 3.3 5508 DETACHD 274
3142 LAKEVIEW BLVD $3,595,000 4 5 5554 DETACHD 270

SOLD (Jan 28-Feb 3 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
86 KINGSGATE RD E-201 $96,300 $104,000 2 2 938 CONDO 13
216 RIDGEWAY RD #14D $133,000 $112,400 2 1 914 CONDO 74
3994 SW CARMAN DR $195,000 $153,000 2 2.1 1146 CONDO 325
4450 THUNDER VISTA LN $145,000 $155,000 2 2.1 2040 CONDO 148
5059 FOOTHILLS DR F $165,000 $185,000 2 2 997 CONDO 31
3101 MCNARY PKWY #10 $249,900 $208,250 3 2.1 1986 ATTACHD 53
5099 GALEN ST $289,900 $240,000 4 2.1 2246 DETACHD 109
6450 FROST ST $347,500 $309,900 4 2.1 2216 DETACHD 111
4750 AUBURN LN $399,500 $389,500 3 3.1 2679 ATTACHD 240
84 BERWICK RD $549,000 $525,000 5 3 3305 DETACHD 126
290 IRON MOUNTAIN BLVD $595,000 $565,000 1 1 1432 DETACHD 8
1455 TIMBERLINE DR $659,900 $630,000 4 3 3554 DETACHD 336
1943 INDIAN TRAIL $799,000 $790,000 3 2.1 2960 DETACHD 6
454 9TH ST $879,000 $845,000 3 4 2978 DETACHD 73
1560 COUNTRY COMMONS $949,000 $914,000 4 3.1 4379 DETACHD 91
2180 PRESTWICK RD $1,000,000 $1,000,000 3 3.1 2391 DETACHD 0
13083 KNAUS RD $2,200,000 $1,900,000 3 3 3200 DETACHD 0
1800 NORTHSHORE RD $3,795,000 $3,145,000 4 6.1 7660 DETACHD 83

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 ~ Feb 3, 2013

There are 12 Homes being held Open Sunday according to RMLS. Enjoy!

Address L/Price # Beds # Baths Total SF Prop Type Time
13901 SUNDELEAF DR $379,900 4 3 1900 DETACHD 1-3PM
15950 PARKER RD $562,500 4 2.1 2611 DETACHD 1-4PM
559 2ND ST #206 $570,000 2 2 1420 CONDO 1-3PM
15655 FIELDSTONE DR $589,500 4 2.1 2750 DETACHD 12-2PM
5533 FIELDSTONE CT $599,500 4 2.1 3115 DETACHD 12-2PM
17393 GRANDVIEW CT $659,900 4 3.1 3672 DETACHD 12-2PM
135 MIDDLECREST RD $669,900 3 2.1 2882 DETACHD 1-3:30PM
2065 LILLI LN $695,000 5 3.2 4112 DETACHD 12-PM
831 NORTHSHORE RD $800,000 3 2.1 2200 DETACHD 1-4PM
16805 SCOTT CT $892,000 4 3.1 4321 DETACHD 12-2PM
2070 WEMBLEY PARK RD $998,000 5 4.1 4935 DETACHD 1-3PM
13068 KNAUS RD $1,450,000 5 5.3 6512 DETACHD 12-3PM
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News & Notes

thinkingA few tips from Linda:

* When pricing your home, please take all that your Realtor has shown you in the way of comps, and let yourself have some time to consider your options. There are various pricing strategies, but the most common one favored by Sellers is over-pricing. That is just a well-known fact to anyone in this business. It’s why, when a Realtor sells their own home, they usually ask for a reality-check from their peers : ) It’s natural, if you love your home, to believe it will fetch more than, perhaps, what your Realtor is telling you it will. It’s also natural, as the Seller, to be concerned about offers coming in below your “fair” price and therefore lowering that price… Much to your chagrin. I get it. I’ve sold my own homes too. BUT, I will tell you that, if you overprice your home, it will likely cost you money by:
– Sitting on the market too long, and giving the impression that “something must be wrong with this one”,
– Causing you to eventually have to lower the price anyway… probably lower than what you would have priced it at originally given these other factors, and the factor of time, and
– Keep Buyers away who are only searching in price ranges below your higher number.

* In a transaction where you are the Buyer, and “lender issues” are causing you to bump up uncomfortably close to your “on or before” closing date, your Realtor will most likely talk with you about writing up an addendum to “extend the closing date” to accommodate your lending timeline. You need to know though, that this is not a sure deal, and the Seller can say no. If your Seller says no, then you need to think seriously about terminating the transaction in writing before that date if you cannot “perform” (i.e., can’t get a loan).
– If your lending issues are related to you trying to get a better rate (as in… you qualified and would have closed on time, but you decided to try for a different loan package in the middle of the transaction), and your Seller does not agree to extend the date, you need to know that you may lose your Eanest Money. The contract states that you need to be able to secure a loan, so Buyers are generally protected if they can’t… BUT, not closing on time for this reason would not be related to that provision. You could secure a loan, but chose to try for a “better” one. Many Seller’s Agents will ask to see a statement from the Underwriter in these kinds of instances to check on just this kind of sticking point.
– If your loan problems are our of your hands, and you think you have good communication with the other parties, so decide not to bother creating an addendum extending the closing date (your lender could be slow, or you could really be having problems getting a loan), you could, again, potentially lose your Earnest Money, as the contract states “time is of the essence”, and in fact, that is a legal term that means that deadlines in the contract trump all other provisions. It has happened that a Buyer could not obtain a loan, had passed the closing date, and didn’t bother to get an extension addendum signed as they were still trying to make it happen & thought the Sellers were on the same page with them….. Later on, even though they really could not get funding, it was decided that the Sellers could keep the Earnest Money because there had been neither an addendum nor termination completed.

As always, Dianne and I are here for you, and would be happy to assist you in your home-buying or -selling adventure if you are not already working with another Realtor. We encourage you to listen to your Realtor. They are here to help you.
Enjoy the Oregon sunshine!

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Market Activity Jan 21-27, 2013

Last week in Lake Oswego we had 17 houses come onto the market, 18 houses receive accepted offers, and 9 closed sales.
Here are further details on last week’s Market Activity:

NEWLY LISTED (Jan 21-27, 2013)

Address Type Price BR Bths SF
18 Crestfield Ct Condo $105,000 2 1 923
245 Cervantes Condo $110,000 2 2 1265
16250 Pacific Hwy #79 Condo $125,000 1 1 859
5060 Foothills Dr Condo $239,000 2 2 1252
1287 Boca Ratan Dr Condo $275,000 3 2 1670
2256 Glenmorrie Dr Detached $325,000 3 2 1628
497 Livingood Ln Detached $390,000 3 2.5 2144
4917 Mulholland Dr Attached $420,000 2 2.5 2403
2709 Orchard Hill Pl Detached $440,000 3 2 2098
762 Maple St Detached $479,000 3 2.5 2417
2464 Marylhaven Pl Detached $539,000 4 2.5 2898
13536 Streamside Dr Detached $649,000 4 3.5 2857
17393 Grandview Ct Detached $659,900 4 3.5 3672
13315 Hidden Bay Ct Detached $700,000 5 2.5 3671
2860 Upper Dr Detached $768,950 5 3.5 3768
15150 Glen Eagles Ct Detached $799,900 3 2.5+.5 2839
17340 Cardinal Dr Detached $885,000 4 3 3417

PENDING SALES (Jan 21-27, 2013)

Address Type Price BR Baths SF DOM 66 Oswego Summit Condo $74,900 1 1 764 12 3958 Carman Dr Condo $134,900 2 2.5 1133 260 3285 Childs Rd Detached $207,100 4 3 2780 183 6462 Frost St Detached $309,900 3 2.5 2205 117 5675 Childs Rd Detached $359,900 2 2.5 1644 99 14598 Wilmot Way Detached $369,000 4 2.5 1960 10 979 Devon Ln Detached $385,000 3 3.5 2162 192 1645 Aspen St Detached $425,000 3 2.5 1916 5 13340 Auburn Ct Attached $432,900 3 2.5 601 13366 Auburn Ct Attached $434,000 3 2.5 2492 82 13080 Princeton Ct Detached $463,900 5 3 3661 180 2011 Ridgewood Ln Detached $480,000 5 3.5 3012 716 4673 Lakeview Blvd Detached $500,000 3 2 2061 5 3423 Lake Grove Ave Detached $612,750 4 3.5 4324 420 1420 Hoodview Ln Detached $745,000 4 3 3323 5 2618 Palisades Crest Detached $749,900 5 3.5+.5 5169 198 567 6th St Detached $825,000 4 3.5 2568 7 786 7th St Detached $879,000 3 3.5 2825 84

SOLD (Jan 21-27 2013)

Address Type List Price Closed Price Sq Ft CDOM
5195 Firwood Rd Detached $251,000 $251,000 $196,000 1886 246
1237 Hallinan Circle Detached $251,000 $269,900 $258,000 1284 4
4231 Woodside Circle Attached $298,500 $267,500 1943 174
4150 Upper Dr Detached $251,000 $329,000 $285,000 1738 27
6474 Frost St Detached $251,000 $347,500 $310,000 2216 110
36 Nova Ct Detached $251,000 $360,000 $352,500 2,256 20
4360 Upper Dr Detached $251,000 $415,000 $405,000 2434 20
15225 Candlewood Ct Detached $251,000 $469,900 $430,000 2758 239
18175 Pilkington Rd Detached $251,000 $574,900 $602,500 3164 13

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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Moving to Oregon

migration_map_2012

United Van Lines, the nation’s largest household goods mover, has just come out with their annual study of migration within the United States. This study is not based on total moves. It is based upon percentages. They have been doing this study since 1977.

So what happened in 2012? Oregon is the leading state for in-migration in the country. The only part of the country with a greater percentage of moves into their area was the District of Columbia. Oregon made this list with 61% of Oregon-involved moves being people moving into the state and just 39% of moves from people moving out of the state. Here are the top 5:

1. District of Columbia
2. Oregon
3. Nevada
4. North Carolina
5. South Carolina

Michael Stoll, an economics professor at UCLA, sights factors such as lower housing costs, temperate climate, diversified economies, and high-tech clusters as reasons that people choose to move to the leading states.

My opinion? I think it can be attributed to Microbreweries, Food Carts, easy access to snow boarding, hiking, camping, the beach, and Oregon wine country. And then there is the cult-hit, Portlandia. Portland, and the Portland food scene, have been written up several times in the New York Times with glowing reviews. This is a wonderful place to live, and it’s getting discovered.

In this past year I have personally helped two families make the move to Portland from out of the state. In both cases, they did some research and chose Lake Oswego because of the schools.

I think all of this is good news for our real estate market. It’s pretty basic economics of supply and demand. High demand supports high property values, and after the recent recession it feels good to hear some encouraging news.

If you are considering a move to Oregon, take a look at Lake Oswego. I think you’ll like what you learn. And if you need a great Realtor to help you with the move, please give Linda or myself a call. We would love to hear from you.

Best regards,
Dianne

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Market Activity~Jan 14-20, 2013

Activity is good with 17 New on the market, 8 Pending and 10 Sold during the last 7-day period in Lake Oswego.

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

NEWLY LISTED (Jan 14-20, 2013)

Address List Price # Beds # Baths Total SF Prop Type
26 CRESTFIELD CT $84,900 2 2 989 CONDO
1547 BOCA RATAN DR $188,950 2 1.1 1008 ATTACHD
885 MCVEY AVE $219,900 3 1 1292 DETACHD
14598 WILMOT WAY $369,000 4 2.1 1960 DETACHD
16901 LAKERIDGE DR $375,000 4 3 2080 DETACHD
13901 SUNDELEAF DR $379,900 4 3 1900 DETACHD
686 SUNNY HILL DR $499,900 4 2.1 2392 DETACHD
4673 Lakeview BLVD $500,000 3 2 2061 DETACHD
1021 YATES ST $500,000 3 2.1 1985 DETACHD
559 2ND ST #206 $570,000 2 2 1420 CONDO
19342 RIVERWOOD LN Lot 6W $579,900 4 2.1 2806 DETACHD
13059 AMBER PL $589,800 5 3 3240 DETACHD
18020 JENIFERS WAY $589,800 4 2.1 2966 DETACHD
1255 BAYBERRY RD $674,900 3 2 2140 DETACHD
96 GARIBALDI ST $769,900 3 3.1 4819 DETACHD
567 6TH ST $825,000 4 3.1 2568 DETACHD
18132 SIENA DR $1,089,000 4 3.1 3565 DETACHD

PENDING SALES (Jan 14-20, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
86 KINGSGATE RD E201 $96,300 2 2 938 CONDO 13
4071 JEFFERSON PKWY 102 $169,900 3 2.1 1228 CONDO 3
1041 HEMLOCK ST $299,900 4 3 2623 DETACHD 170
980 C AVE $415,000 3 2 1312 DETACHD 110
621 COUNTRY CLUB RD $449,900 4 2.1 3303 DETACHD 185
1172 TROON RD $559,000 4 3.1 2504 DETACHD 220
18096 Pilkington RD $599,900 3 2.1 3182 DETACHD 272
568 9TH ST $799,900 3 3.1 2825 DETACHD 759

SOLD (Jan 14-20 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
36 AQUINAS ST $339,999 $305,000 3 2 1606 DETACHD 94
16747 BONAIRE AVE $349,900 $330,000 3 2 1610 DETACHD 86
1610 ASH ST $375,000 $365,400 3 2 2181 DETACHD 48
39 TANGLEWOOD DR $435,000 $417,000 4 3 3124 DETACHD 91
3838 RIVERS EDGE DR $525,000 $498,900 4 2.1 2806 DETACHD 57
444 10TH ST $549,000 $520,000 4 2 1876 DETACHD 88
2420 PALISADES CREST DR $699,500 $545,000 4 2.1 3471 DETACHD 188
5193 DENTON DR $635,000 $604,000 4 2.1 3076 DETACHD 114
543 2nd ST $699,000 $675,000 2 2 1816 CONDO 111
18137 MEADOWLARK LN $1,350,000 $1,150,000 4 4.1 5935 DETACHD 38

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 ~ Jan 20, 2013

There is a whole lot of Buying activity in real estate this weekend, and there are 22 Open Houses in Lake Oswego Sunday! Perhaps one is “the one” for you:

Address L/Price # Beds # Baths Total SF Style Time
14598 WILMOT WAY $369,000 4 2.1 1960 DETACHD 1-4PM
1288 ROCKINGHORSE LN $382,500 3 2 1742 DETACHD 2-4PM
979 DEVON LN $385,000 3 3.1 2162 DETACHD 1-4PM
13005 PRINCETON CT $413,000 3 2.1 2294 DETACHD 1-4PM
15495 TANAGER DR $429,000 4 2.1 2255 DETACHD 1-3PM
136 D AVE $439,000 2 2.1 1754 DETACHD 12-1:30PM
600 MAPLE ST $445,500 3 2.1 2416 DETACHD 1-3PM
1429 GREENTREE CIR $459,500 4 2.1 2599 DETACHD 2-4PM
13080 PRINCETON CT $463,900 5 3 3661 DETACHD 12-3PM
4890 SAGE HEN CIR $499,900 4 2.1 2832 DETACHD 1-3PM
17802 TREETOP LN $529,000 4 3.1 3655 DETACHD 1-3PM
15655 FIELDSTONE DR $589,500 4 2.1 2750 DETACHD 12-2PM
2302 OVERLOOK DR $589,900 4 2.1 3125 DETACHD 1-3PM
5533 FIELDSTONE CT $599,500 4 2.1 3115 DETACHD 12-2PM
12424 ORCHARD HILL RD $599,950 3 3 2889 DETACHD 1-4PM
1131 DEVON LN $599,990 3 3.1 3179 DETACHD 1-3PM
1921 GLENMORRIE LN $624,000 3 3 2375 DETACHD 1-3PM
1015 SOUTHSHORE BLVD $638,500 4 3 3882 DETACHD 2-4PM
831 NORTHSHORE RD $800,000 3 2.1 2200 DETACHD 1-4PM
329 10TH ST $949,980 4 2.1 3647 DETACHD 1-3PM
17469 KELOK RD $975,000 3 2.1 2675 DETACHD 1-3PM
112 NORTHSHORE CIR $1,650,000 3 3.1 3632 DETACHD 11AM-4PM
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News & Notes

A few tips from Linda:

* 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