Market Activity Nov 24-Dec 4, 2016

We are in our first official “winter storm watch” for the season. As someone who has lived here for awhile, I can tell you that it is pretty normal for a lot to be made of winter weather events that turn out to be not much for than frost on the lawn in the morning. Having said that, we can hope, right? Perhaps we will get an inch or two of snow this week. If we do, it won’t last more than a day or two. And even in these conditions, in the middle of the holiday season, houses still get bought and sold. Last week in Lake Oswego we had 5 new listings, 12 houses enter into contracts as pending sales, and 14 sold/closed properties.

Following is the breakdown for you according to RMLS:

New on the Market (Nov 28-Dec 4, 2016)

Address Type Price BR Baths Sq Ft
4739 Rembrandt Ln Detached $485,000 3 2.5 1954
5538 Royal Oaks Dr Detached $525,000 3 2 1899
4978 Suntree Ln Detached $535,000 3 2.5 2348
18020 Gimley Ct Detached $850,000 3 2.5 3420
1527 Lake Front Rd Detached $6,985,000 5 6.5 7220

Pending Sales (Nov 28-Dec 4, 2016)

Address Type Price BR Baths Sq Ft CDOM
100 Kerr Pkwy #7 Condo $114,900 1 1 617 6
18861 Indian Springs Circle Detached $419,000 3 2 1567 31
47 Oriole Ln Detached $420,000 3 3 1958 2
2520 Southshore Blvd Detached $449,900 3 2.5 2016 24
19235 Redwing Ct Detached $549,900 4 2 2084 130
1669 Oak St Detached $559,000 5 2.5 2649 48
50 Hillshire Dr Detached $645,000 5 2.5 3188 12
672 1st St Condo $659,000 2 2.5 1986 92
17771 Marylcreek Dr Detached $730,000 4 3.5 4398 123
4620 Dogwood Dr Detached $888,500 4 2.5 3613 102
16827 Scott Ct Detached $1,000,000 4 0.35 4179 140
16 Dover Way Detached $1,595,000 5 5.5 8147 219

Sold/Closed (Nov 28-Dec 4, 2016)

Address Type List Price Sold Price Sq Ft CDOM
4 Touchstone #109 Condo $163,000 $155,000 989 264
3433 McNary Pkwy #203 Condo $149,900 $160,000 1,008 4
48 Eagle Crest Dr Condo $265,000 $265,000 1,443 64
1033 Hallinan St Detached $309,900 $298,000 1128 159
1875 Fernwood Dr Detached $349,900 $375,000 1102 11
15450 Kimball Ct Detached $475,000 $442,500 1544 26
1935 Fernwood Dr Detached $515,000 $455,000 2100 106
18250 Indian Creek Dr Detached $469,900 $469,900 1,581 3
4191 Southshore Blvd Detached $455,000 $477,824 1361 12
350 6th St Detached $589,900 $530,000 2304 36
37 Hillshire Dr Detached $619,000 $605,000 2809 52
490 Iron Mountain Blvd Detached $699,900 $700,000 2246 2
14867 Twin Fir Ct Detached $699,900 $730,000 3641 63
16060 White Oaks Dr Detached $825,000 $770,500 3420 135

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.

Market Activity Report for November 7 – 11th, 2016

Hey everybody!
I hope your November has been awesome. Have you all noticed that the grocery stores have almost completely skipped Thanksgiving? Like what is up with that? I feel like I was just in Halloween land at the Albertsons and now suddenly its Christmas!
In any case, the real estate market has maintained a steady rhythm. Condos continue to be a hot item, and houses starting at 400,000 to 700,000 continue to be bought and sold at an even pace.

Last week we saw 16 new listings, 23 pending houses, and 10 closed homes!

Following is the breakdown for you according to RMLS:

New on the Market (Nov 07th-13th, 2016)

Address Type Price Bedrooms Bathrooms Sqft
1368 BOCA RATAN DR ATTACHED 325,000 3 2 1611
4386 THUNDER VISTA LN ATTACHED 359,000 3 2.5 1903
18220 INDIAN CREEK DR DETACHED 489,000 4 2 1736
5000 CARMAN DR DETACHED 499,900 2 2.5 2010
440 9th ST DETACHED 675,000 3 2 2269
1422 ASH ST DETACHED 699,000 4 3 2997
17517 OAK MEADOW LN DETACHED 719,000 4 2.5 2952
6457 MCDUFF CT DETACHED 733,500 4 3.5 3193
4113 WOLF BERRY CT DETACHED 839,000 4 3 2922
429 6th ST DETACHED 1,049,000 4 2.5 3205
47 Lamont WAY DETACHED 1,079,000 4 3.5 3043
13599 MEADOWCREEK LN DETACHED 1,099,000 4 3.5 3170
15804 ALLISON PL DETACHED 1,149,000 4 2.5 3751
17084 CHAPIN WAY DETACHED 1,225,000 4 3.5 4028
4434 LAKE VIEW BLVD DETACHED 1,375,000 3 3 2803
1952 HIGHLANDS LOOP DETACHED 2,190,000 4 4.5 4446

Pending Sales (Nov 07th-13th, 2016)

Address Type Price Bedroom Bathrooms DOM
100 KERR PKWY #44 CONDO 150,500 2 1.5 55
4 TOUCHSTONE #109 CONDO 160,000 2 2 264
4 TOUCHSTONE #90 CONDO 199,000 3 2.5 165
131 OSWEGO SMT CONDO 200,000 2 2 57
4083 JEFFERSON PKWY CONDO 299,000 2 2.5 37
51 ORIOLE LN DETACHED 369,900 3 2 1
17311 MANDI LN DETACHED 379,000 3 2.5 115
5720 KENNY ST DETACHED 389,900 3 2 43
4910 REDWING WAY DETACHED 415,000 3 1.5 1
7 CONDOLEA DR CONDO 449,900 3 3 4
2520 SOUTHSHORE BLVD DETACHED 449,900 3 2.5 7
17 LAUREL ST DETACHED 499,500 3 1.5 148
550 2ND ST CONDO 500,000 2 2.5 13
37 HILLSHIRE DR DETACHED 619,000 4 3 52
16 BECKET ST DETACHED 625,000 3 3 126
15939 TWIN FIR RD DETACHED 649,000 3 2 6
652 1ST ST CONDO 659,000 2 2.1 76
4279 ALBERT CIR DETACHED 685,000 3 2.5 125
490 IRON MOUNTAIN BLVD DETACHED 699,900 2 2 2
716 LAKE SHORE RD DETACHED 890,000 3 2 64
581 OAK MEADOW DR DETACHED 1,199,000 4 4.5 307
2301 WEMBLEY PARK RD DETACHED 1,269,900 4 3.5 0
13648 GOODALL RD DETACHED 1,795,000 4 4.5 56

Sold/Closed (Nov 07th-13th, 2016)

Address Type List Price Close Price Sqft DOM
3433 MCNARY PKWY CONDO 229,900 222,000 1344 26
4325 SILVER CT CONDO 260,000 332,250 1844 67
1677 LAUREL ST DETACHED 489,000 490,000 2445 6
13551 SOUTHWOOD CT DETACHED 725,000 667,500 3115 86
654 1ST ST CONDO 689,000 683,000 2140 35
5037 PARKHILL ST DETACHED 729,000 705,000 3157 25
13745 CAMEO CT DETACHED 868,950 750,000 3380 153
650 1ST ST CONDO 899,000 899,000 2767 23
2786 GLENMORRIE DR DETACHED 1,500,000 1,415,000 6095 128
15365 TWIN FIR RD DETACHED 1,500,000 1,417,110 4574 110

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.

Optimize Showings

house-insurance-419058_960_720You have made the decision that it is time to move, you have interviewed Realtors and found someone you trust and have faith in, the house is going on the market, now comes one of your most important jobs, making the most of each and every showing that happens. There are a few simple things you can do.

Of course before you listed your home for sale you already did a thorough job of cleaning and making repairs. Here at the blotter we have discussed this at length in previous posts, but in a nutshell, dirt will cost you dearly. No one wants to buy someone else’s grime. Scrub fixtures, clean the roof and the windows. If it is broken, fix it. If you have neither time nor resources to fix things, price your house accordingly. At the right price a buyer will both repair and clean, but it will be a price less than you would otherwise obtain if these were not issues.

So this narrative assumes the house is both clean and repaired. Your house is on the market and your phone is starting to ring, now what?

Turn on all of the lights and open all of the curtains
People associate light with happiness. Especially as our days grown shorter, light is even more important. It is much easier for homes to look beautiful in June than it is in November. Turn on lights even during the day.

Replace your LED lights that have to warm up to be at full brightness. If you have multiple showings, there is a good chance that someone coming through early will turn off lights as they leave. You can put out a note to ask them not to. Just leave it on the kitchen counter. But I also recommend that when you have your house for sale, you need light bulbs that come on at full brightness the minute the switch is flipped.

Open all of the drapes and blinds to let in as much light as possible. If you have a bad view out of a window (I’m thinking neighbor’s garbage cans on the side yard), think about installing blinds that open partially. They can be opened, but not all of the way, to maximize light and also obscure issues you have no control over.

Make is easy for Realtors to show the house
The easiest showing instructions are “call first, use lockbox”. This means a Realtor can call or text you at a designated phone number, leave a message, and then go and show the house. Many homeowners want advanced notice, as much as 24 hours, or want selective showing hours, or want specific appointments where the Realtor must speak directly with the home owner and confirm the appointment time. I recognize that in some circumstances this is necessary and most Realtors will accommodate this, including me. But think about it. Put yourself in the shoes of the Realtor who may want to show your house. They have a list of 15 possible houses to show. They know realistically they can comfortably do 10-12 without everyone becoming too tired. So they go through the list. If a house is complicated to get into, they will forgo it to show a house that is move convenient. So making it hard to show your house will lower the number of showings that you will get.

Leave the house for the showing!
Never, never, never be at home when possible buyers come through. This includes sitting in your car across the street and watching them. When you are home, or obviously in the area, you are putting a big stamp on the property “This is my house!”. Potential buyers will feel cautious about looking around. They will see you in every room, even if you are in the back yard. It is awkward, awkward, awkward. This actually happened to me.

My Mom and I were both Realtors here in Lake Oswego in 1998. I was wanting to move from Sellwood to LO to get my kids into Lake Oswego schools. My Mom went on Realtors tour and came back to the office and told me she had seen the perfect house for me. On her insistence I called the home owner and went to see it. The guy who owned the house was home. He followed me through every room, even going so far as to say things like “this is the kitchen”. I came back to the office and told my Mom that I didn’t like the house. She was floored and insisted it was perfect. I told her about my experience and she suggested I go and see it again and politely ask the home owner to leave. I did. This time I went through the house and was able to see that it had everything I was looking for. When I walked through the yard I could see my kids playing there and my family barbecuing on the big patio. She was right, it was my house. We have lived in it for nearly 20 years. Good thing my Mom had the good sense to get me to make the owner leave!

I know I said never, but there are occasional exceptions to this. Particularly with elderly people or people with disabilities. If it is absolutely necessary for a home owner to be at home, so be it. Realtors are people too. We will work with you and make the best of the situation. Just realize that it can compromise both the number of showings that you get and the quality of the showings.

This advice is relevant no matter the time of year, but when the market slows down, like during the holidays and during a buyer’s market, it is particularly important. I hope you find it helpful. Don’t hesitate to call Linda, Whitney, or myself if you have any questions.
Dianne

Market Activity Nov 1-6, 2016

I think the pace of sales right now is what I would call “Fall Steady”. Our numbers this week are consistent with what we have been seeing for about a month now. Last week in Lake Oswego we had 11 New Listings, 14 Pending Sales, and 15 Closed/Sold listings.

Details below:

New on the Market (Nov 1-6, 2016)

Address Type Price BR Baths Sq Ft
52 Oswego Summit Condo $199,900 1 1 705
7 Condolea Dr Condo $449,900 3 3 2388
12504 Shelby Ct Detached $625,000 4 2.5 2860
15939 Twin Fir Rd Detached $649,000 3 2 2480
6 Garibaldi St Detached $799,900 5 4 5470
13852 Shireva Dr Detached $830,000 5 3 2716
16007 Bonaire St Detached $867,000 3 2.5 2845
18400 Delenka Ln Detached $949,900 5 3.5 4603
17808 Hillside Way Detached $1,075,000 4 4 3815
4300 Haven St Detached $1,379,000 4 4 4312
757 Lake Shore Rd Detached $2,895,000 4 3.5 4098

Pending Sales (Nov 1-6, 2016)

Address Type Price BR Baths Sq Ft CDOM
3962 Carman Dr Condo $244,900 2 1129 26
155 Oswego Summit Condo $259,000 2 2 1506 46
16724 Roosevelt Ave Detached $364,995 3 1.5 1270 58
580 2nd St Attached $459,000 2 1.5+.5 1464 72
2815 Orchard Hill Pl Detached $478,000 4 3 2812 14
19235 Redwing Ct Detached $485,000 4 2 2084 100
15 Touchstone Detached $495,000 4 2.5 2276 23
1709 Meadows Dr Detached $497,000 4 2.5 2288 15
16577 Glenwood Ct Detached $545,000 4 3 3279 20
3520 Lanewood St Detached $549,000 3 2 1850 30
4400 Cobb Way Detached $565,000 3 2 1676 7
18171 Bryant Rd Detached $625,000 3 2 2984 78
545 Evergreen Rd Detached $789,900 3 3.5 2182 50
950 Cedar St Detached $995,000 4 3.5 3135 257

Sold/Closed (Nov 1-6, 2016)

Address Type List Price Sold Price Sq Ft CDOM
31 Oswego Summit Condo $174,000 $169,900 721 106
74 Galen St Condo $199,900 $198,000 995 35
668 McVey Ave #64 Condo $279,900 $267,000 636 60
98 Greenridge Ct Attached $365,000 $342,500 2000 41
67 Greenridge Ct Attached $369,000 $350,000 2004 67
6423 Frost St Detached $569,000 $509,000 2548 304
17911 Lake Haven Dr Detached $563,000 $545,000 2136 58
19134 Terry Ave Detached $575,000 $557,500 2,557 7
2825 Vale Ct Detached $575,000 $575,000 2314 4
628 Evergreen Rd Detached $619,000 $619,000 2402 4
19 El Greco St Detached $649,000 $632,500 3030 71
3195 Edgemont Rd Detached $699,000 $675,000 1858 91
5681 Yorkshire Ct Detached $734,000 $695,000 2985 97
4176 Upper Dr Detached $869,000 $839,000 2938 32
4200 Upper Dr Detached $1,289,000 $1,265,000 3610 1

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.

Market Activity Report Oct 10th – 23rd, 2016

Hello everybody! I hope your October is wonderful!
I keep having our tree out front dump a bunch of leaves all over my car. I feel like I wash it and suddenly its covered in leaves again, isn’t fall great!? Haha.
These last few weeks we saw plenty of activity, especially with condos. The house on 9 Spinosa has sold, which I always thought was a super cool looking house! So congrats on the sale you guys!

These last two weeks we saw 29 houses up for sale, 26 houses pending, and 26 homes sold!

Following is the breakdown for you according to RMLS:

New on the Market (Oct 10th-23rd, 2016)

Address Type Price Bedrooms Bathrooms Sqft
45 EAGLE CREST DR #411 CONDO 221,900 2 2 1214
4 TOUCHSTONE #102 CONDO 237,500 4 2 1488
200 BURNHAM RD #206 CONDO 240,000 2 1 1199
3962 CARMAN DR CONDO 244,900 2 0.5 1129
183 OSWEGO SMT CONDO 265,000 2 2 1506
5050 LOWER DR DETACHED 299,900 2 1 1375
1875 FERNWOOD DR DETACHED 349,900 3 1.5 1102
17311 MANDI LN DETACHED 379,000 3 2.5 1935
18914 LONGFELLOW AVE DETACHED 455,000 3 1.5 1232
5635 WINDFIELD LOOP DETACHED 460,000 2 2 1455
15 TOUCHSTONE DETACHED 495,000 4 2.5 2276
1709 MEADOWS DR DETACHED 497,000 4 2.5 2288
208 ASH ST DETACHED 529,500 3 2 1912
16577 GLENWOOD CT DETACHED 545,000 4 3 3279
1669 OAK ST DETACHED 589,000 5 2.5 2649
151 C AVE ATTACHED 624,900 2 2.5 1934
1501 WOODLAND TER DETACHED 649,900 5 3.5 3992
57 EAGLE CREST DR DETACHED 724,900 5 2.5 3884
14061 TAYLORS CREST LN DETACHED 779,000 4 2.5 2970
1 DOVER WAY DETACHED 1,100,000 4 3 3559
605 COUNTRY CLUB RD DETACHED 1,100,000 4 2.5 3422
4 DOVER WAY DETACHED 1,195,000 4 2.5 3779
849 F AVE DETACHED 1,199,900 3 2.5 2674
4390 LORDS LN DETACHED 1,295,000 4 3.5 3693
752 8TH ST DETACHED 1,350,000 5 3.5 4550
404 FAIRMONT RD DETACHED 1,495,000 4 4.5 3948
13725 CAMEO CT DETACHED 1,500,000 5 4.5 4803
915 SKYLAND DR DETACHED 1,590,000 5 5.5 7072
4140 CANAL RD DETACHED 3,999,000 8 7.5 11956

Pending Sales (Oct 10th-23rd, 2016)

Address Type Price Bedroom Bathrooms DOM
100 KERR PKWY #13 CONDO 117,000 1 1 23
3433 MCNARY PKWY CONDO 149,900 2 2 4
4 TOUCHSTONE CONDO 160,000 2 2 244
4000 CARMAN DR CONDO 198,000 2 2 3
3433 MCNARY PKWY CONDO 229,900 3 2 26
4083 JEFFERSON PKWY CONDO 299,000 2 2.5 17
71 GREENRIDGE CT CONDO 345,000 3 2.5 116
18644 SW KRISTI WAY DETACHED 349,950 2 2 42
43 ORIOLE LN DETACHED 365,000 2 2 62
60 WHEATHERSTONE CONDO 375,000 3 3 3
10 SAINT HELENS CIR DETACHED 409,900 2 2 6
1935 FERNWOOD DR DETACHED 455,000 4 3 106
18250 INDIAN CREEK DR DETACHED 469,900 3 2 3
14588 WILMOT WAY DETACHED 538,000 5 3 97
1570 WOODLAND TER DETACHED 579,000 3 2 3
4681 TRILLIUM WOODS ATTACHED 585,000 3 2.5 29
1264 ROCKINGHORSE LN DETACHED 599,000 4 2.5 22
4583 TRILLIUM WOODS ATTACHED 599,000 3 2.5 49
4581 TRILLIUM WOODS ATTACHED 615,000 3 2.5 9
13105 ROGERS RD DETACHED 675,000 4 3 121
800 FAIRWAY RD DETACHED 678,000 3 2 37
14867 TWIN FIR CT DETACHED 699,900 4 3.5 63
5907 BAY POINT DR DETACHED 720,000 4 2.5 1
13554 SOUTHWOOD CT DETACHED 750,000 3 2.5 8
1601 PINE ST DETACHED 894,900 4 3.5 83
13372 FIELDING RD DETACHED 1,000,000 4 4.5 119

Sold/Closed (Oct 10th-23rd, 2016)

Address Type List Price Close Price Sqft DOM
4 TOUCHSTONE CONDO 150,000 151,344 984 7
47 EAGLE CREST DR CONDO 149,900 154,000 932 6
86 KINGSGATE RD CONDO 154,900 154,400 849 8
4000 CARMAN DR 108 CONDO 169,900 170,000 767 5
4000 CARMAN DR A10 CONDO 169,900 190,000 836 5
48 EAGLE CREST DR CONDO 269,000 279,000 1538 10
4960 CENTERWOOD ST DETACHED 549,000 509,000 1663 77
13142 PETERS RD DETACHED 499,900 517,500 2412 17
3200 UPPER DETACHED 499,999 521,000 2543 2
4 ESSEX CT DETACHED 549,900 530,000 2835 23
14863 TWIN FIR CT DETACHED 539,500 543,000 1648 14
9 SPINOSA DETACHED 595,000 569,000 2250 11
16 INDEPENDENCE AVE DETACHED 675,000 607,000 3979 65
32 WILBUR ST CONDO 635,000 660,000 2671 5
1875 CREST DR DETACHED 729,000 725,000 2798 7
5435 WESTFIELD CT DETACHED 790,000 749,900 2796 32
1172 TROON RD DETACHED 827,500 750,000 2504 103
5267 LAKEVIEW BLVD DETACHED 900,000 879,000 3454 29
16830 CHAPIN WAY DETACHED 949,000 905,000 3097 22
13079 AMBER PL DETACHED 948,000 930,000 3200 165
151 BERWICK RD DETACHED 999,500 945,000 4387 37
17432 KELOK RD DETACHED 1,025,000 1,025,000 2884 33
855 G AVE DETACHED 1,599,000 1,460,000 3710 309
610 4th ST DETACHED 1,600,000 1,530,000 3394 31
1400 RIDGECREST DR DETACHED 2,250,000 1,950,000 4202 113
1190 FAIRWAY RD DETACHED 2,315,000 2,315,000 5121 0

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.

Our Growing Population

If you have lived in the Portland metro area for the last 5 years or so you have seen first hand how much our population is growing. I know I have mentioned in previous blog posts the United Van Lines survey that comes out each year showing where in the United States people are moving to and from. Oregon for 2 years in a row has now been the #1 in-migration state in the country. So what you sense as you drive around is very, very real. I think about this a lot because it has a big impact on my job, and so I pay attention to others with thoughtful observations on the topic. This past week I had the pleasure of discovering an article in Portland Monthly on this very subject. Written by Randy Gragg, it layed out some really good observations and thoughts.

The first factor that is supporting our growth is our strong economy. With large employers like Nike, Intel, Adidas, and Columbia Sportswear, good jobs are available. Randy Gragg believes that this is going to continue and even expand. He attributes it to a new tech boom that is spurred on by the growing connectivity of our personal devices to the Internet. Think Fitbits, phones, even refrigerators and our cars, this is the economy of the “Internet of Things”.

Then there is the reality that 14,000 new apartments have been built since 2012, and 60 buildings at least 100′ tall are in the planning process, 15 of them are over 200′. I remember learning that the zoning for high rise buildings like exist in downtown Portland goes all the way South to about the Sellwood bridge. We are going to see more and more of the small, obsolete buildings in Portland being torn down and replaced with tall office, apartment, and condominium buildings.

The third factor is that we actually have the land to allow this development to take place. This land exists now within our urban growth boundary. Both San Francisco and Seattle are geopgraphically contained by water and therefore the opportunity for growth is limited. Not so in Portland. Portland is 3 times the size of San Francisce and 2 times the size of Seattle. Here’s a fun fact: SE 82nd Ave is the geographic center of Portland. This means that all of the land in the out East side is ripe for eventual development. The population of Portland is expected to exceed that of Seattle (the city, not the entire metro area) by 2025.

The fourth factor is climate change. The drought in the Southwest is a very significant factor right now. Suddenly all of our rain looks pretty attractive when the alternative is water rationing and the hardships of living in a drastically dry environment.

So what to do? Randy Gragg shares these ideas:

1) The metro area needs to concentrate on building affordable family housing. This means that instead of tearing down one old house and building one huge new house, we need to tear down one old house and build a tri or fourplex. This needs to be encouraged by offering incentives to builders and also by loosing up zoning restrictions.
2) The traffic is hear to stay, don’t fret about it. Randy used a pretty funny phrase. He says that if you complain about traffic it makes you a GBB, a Grumpy Baby Boomer. He points out that younger people increasingly don’t rely on cars but instead use car sharing, uber, bikes, and mass transit. I can attest to this. I see it in my younger clients. Think Copenhagen, Madrid, and the great cities of Europe. They are already doing this.
3) Let growth be our friend and realize that with growth will come opportunities. Development fees can encourage community improvements.
4) Do value historic preservation but let it be focused on buildings that have genuine value. Old does not necessarily mean valuable.
5) Encourage good urban design with emphasis put onto vibrant streets and public plazas. People need places to enjoy the community that they get out into. A great example of this is Millenium Plaza Park right here in LO.
6) Recognize that a lot of the growth that is going to happen is going to be on Portland’s East side. It is no longer the boonies, it is prime.

I realize that you are probably thinking “So, what does this have to do with Lake Oswego?”. It has a lot to do with Lake Oswego. All of this growth is going to press in upon our community. We too are growing and are going to continue to grow. I don’t see high rise buildings happening here, but I do see much larger buildings than have been built in the past. Look at the mixed use building currently under construction on the Wizer block. It is taller than any other building in our town. We are going to see more of this, not less. I will predict in this post that I do believe the Foothills Development will happen within the next 20 years. It is too well located near downtown LO and has easy access to what will likely become a commuting line into Portland on the current Trolly route. We are going to see lots of changes as we grow. I am not going to complain about it. I am instead going to pay attention to it and give imput when possible.

I’d love to know your thoughts,
Dianne

Market Activity Oct 3-9, 2016

Here is your market report for real estate activity in Lake Oswego last week. We had 12 new listings, 19 houses go into pending status, and 15 closed transactions. Not quite the gang-buster activity of the spring and summer, but still active and pretty balanced between new listings and houses getting sold.

Following is the breakdown for you according to RMLS:

New on the Market (Oct 3-9, 2016)

Address Type Price BR Baths Sq Ft
1368 Boca Ratan Dr Attached $325,000 2 2 1611
60 Wheatherstone Condo $375,000 3 3 2465
10 Saint Helens Circle Detached $409,900 2 2 1410
29 Becket St Detached $480,000 3 2.5 2354
3520 Lanewood St Detached $579,000 3 2 1850
5750 Washington Ct Detached $599,000 3 2.5 2238
4581 Trillium Woods Attached $615,000 3 2.5 2211
1481 Greentree Circle Detached $628,800 4 3 2878
1838 Oak Knoll Ct Detached $649,000 4 2.5 2557
150 Iron Mountain Blvd Detached $725,000 4 2.5 2868
13554 Southwood Ct Detached $750,000 3 2.5 2912
951 Westpoint Rd Detached $3,865,000 6 4 4144

Pending Sales (Oct 3-9, 2016)

Address Type Price BR Baths Sq Ft CDOM
86 Kingsgate Rd B103 Condo $158,900 2 2 924 149
86 Kingsgate Rd I204 Condo $159,000 2 2 840 24
45 Eagle Crest Dr #211 Condo $189,900 2 2 1046 68
169 Oswego Summit Condo $198,000 2 2 1383 171
131 Oswego Summit Condo $205,000 2 2 1212 24
566 S State St Condo $215,000 1 1 778 2
48 Eagle Crest Dr Condo $265,000 2 2 1443 64
15450 Kimball Ct Detached $449,900 4 2 1544 26
4191 Southshore Blvd Detached $455,000 3 2 1361 12
15 Masaryk St Detached $469,500 4 3 3864 196
1677 Laurel St Detached $489,000 4 3.5 2445 6
654 1st St Condo $689,000 2 2.5 2140 35
16060 White Oaks Dr Detached $799,000 4 3.5 3420 135
4726 Upper Dr Res-Mfg $810,000 3 2 2250 148
878 10th St Detached $879,000 2 2 1900 7
582 9th St Detached $1,100,000 3 3.5 2841 946
548 Ridgeway Rd Detached $1,560,000 4 3 2830 455
1125 Maple St Detached $1,998,000 4 3.5 5481 244
1021 Lake Shore Rd Detached $2,695,000 4 3 3487 941

Sold/Closed (Oct 3-9, 2016)

Address Type List Price Sold Price Sq Ft CDOM
4 Touchstone #140 Condo $185,000 $182,000 1351 10
3928 Carman Dr Condo $239,900 $245,000 1,130 5
221 Cervantes Condo $265,000 $279,500 1,240 14
2 Mountain Circle Attached $299,000 $300,000 1372 32
18851 Pilkington Rd Detached $399,000 $376,000 1679 54
4291 Collins Way Detached $405,000 $425,000 1482 5
16652 Bryant Rd Detached $440,000 $440,000 2411 5
5581 Yorkshire Pl Detached $585,000 $574,300 3,218 69
18183 Westminster Dr Detached $720,000 $713,000 3191 57
17170 Wall St Detached $835,000 $825,000 3446 12
18260 River Edge Ct Detached $949,000 $940,000 4711 164
721 7th St Detached $1,249,000 $1,225,000 4544 42
13060 Knaus Rd Detached $1,595,000 $1,450,000 4353 48
13800 Knaus Rd Detached $1,995,000 $1,995,000 5132 42
1193 Fairway Rd Detached $2,900,000 $2,998,000 7028 987

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.

Market Activity for September 19 – 25th, 2016

Hey everybody, hope that the ease into fall has been good. I certainly noticed as soon as there were leaves everywhere! But with the change in temperature comes cold season. So make sure to keep your homes nice and warm, and stock up on good tea!

18 New listings, 25 pending, 14 sold homes!

Following is the breakdown for you according to RMLS:

New on the Market (Sept 19-25, 2016)

Address Type Price Bedrooms Bathrooms Sqft
100 KERR PKWY #13 CONDO 117,000 1 1 617
155 OSWEGO SMT CONDO 259,000 2 2 1506
5720 KENNY ST DETACHED 389,900 2 2 1416
4191 SOUTHSHORE BLVD DETACHED 455,000 3 2 1012
14798 DAVIS LN ATTACHED 479,900 2 2.5 1698
19242 TERRY AVE DETACHED 493,900 4 2 1872
1775 FERNWOOD DR DETACHED 589,000 6 3 2640
17872 PILKMINGTON RD DETACHED 595,000 3 2 1610
13105 ROGERS RD DETACHED 679,900 4 3 2655
44 NOVA CT DETACHED 749,900 4 2.5 2868
264 D AVE ATTACHED 799,900 3 2.5 2011
27 BERWICK RD DETACHED 829,000 5 3 2968
13372 FIELDING RD DETACHED 1,000,000 4 4.5 3556
671 5th ST DETACHED 1,178,000 4 2.5 2781
915 CEDAR ST DETACHED 1,200,000 4 3.5 3219
17 BERGIS FARM DR DETACHED 1,289,900 4 2.5 4396
401 9th ST DETACHED 1,390,000 4 3.5 4288
12812 GOODALL RD LOT10 DETACHED 1,995,000 5 4.5 4808

Pending Sales (Sept 19-25, 2016)

Address Type Price Bedroom Bathrooms DOM
86 KINGSGATE RD CONDO 154,900 2 2 8
4 TOUCHSTONE CONDO 185,000 3 2.5 10
74 GALEN ST CONDO 199,900 2 2 35
4325 SILVER CT CONDO 340,000 3 2.5 67
4214 WOODSIDE CIR ATTACHED 359,000 3 2.5 32
18851 PILKINGTON RD DETACHED 399,000 3 2 54
5500 MCEWAN RD DETACHED 400,000 3 2 131
4720 LOWER DR DETACHED 415,000 4 2 3
17623 SCHALIT WAY DETACHED 435,000 3 2 6
14863 TWIN FIR CT DETACHED 539,500 3 2 14
17911 LAKE HAVEN DR DETACHED 548,000 4 2.5 58
652 8TH ST DETACHED 549,900 2 1 4
3845 TEMPEST DR DETACHED 549,900 4 2.5 71
2825 VALE CT DETACHED 575,000 4 3 4
6051 SUMMER WOODS DETACHED 610,000 4 2.5 3
712 LAKE FOREST DR DETACHED 690,000 3 2 6
3195 EDGEMONT RD DETACHED 699,000 3 2 91
5681 YORKSHIRE CT DETACHED 699,900 4 2.5 97
2981 VALE CT DETACHED 699,900 5 2.5 69
5037 PARKHILL ST DETACHED 729,000 4 2.5 25
18462 PIONEER CT DETACHED 819,000 5 3 42
4176 UPPER DR DETACHED 839,000 4 3 32
17867 SUNDOWN CT DETACHED 850,000 3 3.5 35
5314 CHILDS RD DETACHED 859,900 4 2.5 109
650 1ST ST CONDO 899,000 3 2.5 23

Sold/Closed (Sept 19-25, 2016)

Address Type List Price Close Price Sqft DOM
4000 CARMAN DR CONDO 199,900 193,000 834 34
219 CERVANTES CONDO 220,000 215,000 1100 44
71 OSWEGO SUMMIT CONDO 217,500 216,000 1140 2
193 OSWEGO SMT CONDO 235,000 243,000 1383 6
18440 SW DONLEE WAY DETACHED 385,000 385,000 1223 2
1223 HEMLOCK ST DETACHED 422,000 415,000 748 118
5850 BONITA RD DETACHED 527,500 458,000 1272 132
17200 CANAL CIR DETACHED 585,000 585,000 1774 90
17323 LAKE HAVEN DR DETACHED 699,900 699,900 1864 4
1015 SHER LN DETACHED 899,999 850,000 3511 37
17259 LOWENBERG TER DETACHED 895,000 895,000 2955 5
527 10th ST DETACHED 1,150,000 1,125,000 2677 62
3118 DOUGLAS CIR DETACHED 1,339,000 1,280,000 3570 56
780 NORTHSHORE RD DETACHED 2,222,000 2,170,000 2201 10

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.

Counter Tops 101

A recent transaction I had got me to thinking about counter tops. This was a really beautiful, high-end home. The kitchen had been recently remodeled and the information given by the seller was that the counters were granite. In the home inspection the home inspector stated that they were acrylic. Who was right? The seller was absolutely certain that they were granite in part because they had cost him about $10,000 for the material alone. I went to Contract Furnishings Mart where a wonderful man, Patrick VonPegert, was of great help to me. I am going to try to do justice to what I learned, but I also want to encourage you to do your own homework as I am not an expert.

thPatrick told me that while granite is the style that is currently the most popular, quartz is actually more commonly purchased. This is because quartz has similar properties to granite and at the lower end of the product cost it is similar in price. But quartz tops out at its maximum expense much lower than does granite. So it tends to be more affordable as a generalization.

I explained to him my delimna with the question of the counter in the home I was selling and I showed him a photo. He felt, looking at the photo, that the counter was likely granite but he then showed me an acrylic sample in his showroom that was virtually identical. I asked about the cost as evidence and I learned that acrylic counters are also expensive and the $10,000 price tag would not be evidence of the material in question. He then taught me two simple tests. The first was the temperature of the surface. Putting my hand on a granite sample and then putting my hand on an acrylic sample there was a huge difference in temprature. The natural stone is significantly colder and the acrylic was more easily compared to room temperature. The other test was dropping a quarter on the surface. The stone had a higher pitched “ting” whereas the acrylic was more of a lower pitched thud. With this new knowledge in hand I met my client at the house and put our hands to the counter (very cold) and dropped a quarter (ting). My clients response was that she loved the kitchen and the look of the counters so she was fine with them in any case.

Here is some more information and my thoughts of various counter materials. I obtained this information from the Popular Mechanics website. Pricing is suggested and subject to change.

th-1Granite
Granite is gorgeous. Materials cut straight from the earth is solid panels, then custom cut to become a seemless counter surface, they are, in a word, stunning. They come in many colors of solids, varigated, and lined. I have seem some surfaces that literally pull you in and leave you transfixed. There is a reason that they are the premium material. Having said this, they do have a down side. They must be properly sealed to prevent staining and then the seal must be re-done as needed. They need to be cleaned with stone cleaner and not with normal household cleaners. I suspect that there are lots of folks who have granite counters who don’t have a clue about the proper maintenance. They are also expensive with the cost being $75-$250 a square foot. I also have to point out two additional concerns that I have. Natural stone is a finite resource. I so hope that granite counters installed today will be still in use 100 years from now. Please, please, don’t fall pray to changing styles. I so hope that they don’t end up in landfills 20 years from now. Last, granite gives off radon. You know, that nasty stuff we test for in home inspections to prevent lung cancer. I did make an effort to find out if the amount of granite in a typical kitchen counter is a concern by asking an environmental specialist. This was years ago. He told me that the granite in the counter would have to be 10 feet thick to give off the amount of radon that hurts people. But I still think if I had a lot of granite in my home I would test for radon (well, I’d do it even if I didn’t have any granite).

Soapstone and Slate
These materials have much of the same look as granite because they too are natural stone. They have fewer color options. Soapstone is porous and must be sealed with mineral oil. Slate is non-porous and is much easier to care for. It won’t stain easily and scratches can be buffed out. Cost runs $100-$150 per square foot.

Acrylic and Polyester
These counters resist stains and scratches and are both renewable and repairable. Scratches and burns can be sanded out. Gouges can be filled. The color choices are basically limitless as are textures and edges. Cost runs $100-$200 per square foot.

th-2Engineered Stone and Quartz Composits
These counters are 90% quartz, glass, or any other materials chosen to be blended, and 10% acrylic. The color options are pretty limitless. Maintenance is reasonable. Cost runs $150-$200 per square foot. I particularly like the counters made with recycled glass. I tend to be pretty environmentally aware and the idea of materials that are both recylcled and beautiful really appeals to me.

Plastic Laminate, otherwise known as Formica
There is a reason that this stuff has been used in homes for so long. It’s super affordable and wears well with little or no maintenace beyond cleaning. It comes in hundreds of colors and options. Cost is $3-$25 per square foot.

Tile
The trend has moved away from tile, which was the counter top king in the 1990’s. This is mostly due to the issue of maintaining seems and grout, which must be cleaned and sealed regualarly. Having said this, tile is still a popular option for back splashes and smaller surface areas like breakfast bars and pantry counters. Be sure you use a tile that is rated for counters. Wall tile is typically more thin and would more easily crack. I do see a lot of tile in new construction that is under $500,000. This is particularly true in homes that have more modern design elements. Tile stylistically fits in with modern lines. As I mentioned, if you go the route of tile, be sure to properly clean and seal the grout regularly. Cost runs $3-$100 per square foot.

Wood
Wood counters are pretty unusaul. It’s more common to see wood sections in counters on areas like cooking islands or next to the stove for food prep. Wood has had a bad reputation as not being sanitary. This was debunked in 1993 by a University of Wisconsin study that showed that bacteria on wood surfaces like cutting boards will be 99% dead within 3 minutes of exposure to the wood. My bigger concern is how well it will wear. It’s a softer surface that will burn, scratch, and suffer water damage pretty easily. To properly care for it, it should be oiled every 4-6 weeks. And it’s not cheap, running $100-$200 a square foot for a well made counter.

Concrete
This is a material that I am seeing more and more of. Going back to the popularity of modern design, concrete fits right in with that trend. It can be done in a variety of colors and does have a look of stone but with more clean lines. A properly made counter will be pre-cast and fully cured and finished off sight. It should be re-inforced with wire mesh or rebar to minimize cracking. I had a home inspector tell me once that all concrete counters crack. I don’t know if this is true or not, but I think if you are considering concrete you need to decide if this will put you off or not. I have seen cracks in concrete counters. I don’t think that they usually destroy the functional use of the counter, although cracks do invite dirt. To my eye the cracks can become part of the design element. But don’t go with concrete if this may drive you nuts. Cost run $85-$100 per square foot.

There you have it, counters 101. I hope you found it helpful. My thanks to Patrick at Contract Furnishings Mart and to Popular Mechanics.
Dianne

Market Activity Sept 12-18, 2016

I love the change of seasons! All of the color in the trees and the crisp air first thing in the morning. It is really beautiful. Homes show well at this time of year as people anticipate the coming holidays. This encourages real estate activity. So while things have begun to slow down, the market is still extremely active. We had 16 homes come onto the market in Lake Oswego last week as new listings, 29 houses go into pending status, and 12 sales that closed.

Following is the breakdown for you according to RMLS:

New on the Market (Sept 12-18, 2016)

Address Type Price BR Baths Sq Ft
100 Kerr Pkwy #44 Condo $154,500 2 1.5 823
131 Oswego Summit Condo $205,000 2 2 1212
3433 McNary Pkwy #306 Condo $229,900 3 2 1344
5050 Lower Dr Detached $319,000 2 1 1375
4681 Trillium Woods Attached $595,000 3 2.5 2185
37 Hillshire Dr Detached $619,000 4 3 2809
1004 Cumberland Pl Detached $679,000 5 2 3313
5656 La Mesa Ct Detached $729,950 4 3 2748
2060 Ridge Pointe Dr Detached $799,000 5 2.5 4120
286 D Ave Attached $799,900 3 2.5 2302
154 Berwick Rd Detached $825,000 5 3.5 2880
545 Evergreen Rd Detached $829,900 3 3.5 2182
14215 Bridge Ct Detached $910,000 4 2.5 3468
3938 Edens Edge Dr Detached $1,024,999 4 3,5 3882
12819 Alto Park Rd Detached $1,199,900 4 4.5 4102
13648 Goodall Rd Detached $1,795,000 4 4.5+.5 5288

Pending Sales (Sept 12-18, 2016)

Address Type Price BR Baths Sq Ft CDOM
47 Eagle Crest Dr #35 Condo $149,900 2 1 932 6
86 Kingsgate Rd E204 Condo $165,000 2 2 938 4
76 Galen St #76 Condo $199,900 2 2 989 6
76 Oswego Summit Condo $199,900 2 2 1212 43
668 McVey Ave #64 Condo $279,900 1 1 636 60
67 Greenridge Ct Attached $355,000 3 2.5 2000 41
15711 Boones Way Detached $499,000 3 2 1973 25
261 Ash St Detached $499,900 3 2 1788 10
17 Laurel St Detached $565,000 3 1.5 3096 88
1920 Park Forest Ave Detached $575,000 3 3 2679 32
19134 Terry Ave Detached $575,000 4 2 2557 7
1590 Larch St Detached $599,000 5 2.5 2836 66
1837 Cedar Ct Detached $629,000 5 3 2625 92
19 El Greco St Detached $649,000 4 3 3030 71
13551 Southwood Ct Detached $699,900 4 2.5 3115 86
3180 Westview Circle Detached $749,000 3 2.5 2787 82
17572 Shephards Ct Detached $859,000 4 3 2983 69
2527 Palisades Crest Dr Detached $895,000 3 2.5 3738 86
13017 Knaus Rd Detached $1,075,000 4 3.5 4690 89
834 6th St Detached $1,099,900 4 2.5 2679 63
683 5th St Attached $1,178,000 4 3 2811 0
14530 Uplands Dr Detached $1,230,000 4 3.5 4080 15
19371 Riverwood Ln Detached $1,300,000 4 4.5 5034 4
462 9th St Detached $1,390,000 5 3.5 4377 27
14365 Twin Fir Rd Detached $1,439,000 4 3.5 4574 110
1814 Highlands Loop Detached $1,700,000 3 4.5 5635 224
333 Northshore Rd Detached $3,597,500 4 4.5 5150 28
1865 Palisades Terrace Dr Detached $6,900,000 4 5.5+.5+.5 8800 723

Sold/Closed (Sept 12-18, 2016)

Address Type List Price Sold Price Sq Ft CDOM
343 5TH St #3 Condo $249,000 $239,000 910 27
1543 Bonniebrae Dr Attached $295,000 $280,000 1,303 22
5060 Foothills Dr #96 Condo $305,000 $305,000 1,252 2
15422 Partridge Dr Detached $500,000 $465,000 1872 17
4050 Virginia Way Detached $524,500 $524,500 1344 1
700 Briarcliff Ln Detached $549,900 $525,000 2132 41
17486 Cardinal Dr Detached $575,000 $550,000 2327 14
49 Hillshire Dr Detached $699,900 $610,000 4,268 48
727 Laurel St Detached $875,000 $775,000 2924 84
5955 Sunbrook Dr Detached $780,000 $780,000 3110 2
13197 Thoma Rd Detached $1,495,000 $1,452,500 3560 348
2575 Summit Dr Detached $2,395,000 $2,250,000 6185 151

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.