A Guide to Lake Oswego Real Estate and Community
Dianne and Linda

Brought to you by Dianne Gregoire and Linda Rossi, brokers with Oregon First, a professional real estate company licensed with the Oregon Real Estate Agency.

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Market Activity April 8-14, 2019

It’s official. We are in the full throws of the spring real estate market. Talk about a lot happening! Last week, Lake Oswego had 25 new listings come onto the market, 30 properties that went into pending status, and 20 closed sales. Whew!

Following is the breakdown for you according to RMLS:

New on the Market (April 8-14, 2019)

Address Type Price BR Baths Sq Ft
5911 Carman Dr Detached $320,000 3 1.5 1168
5229 Rosewood St Detached $375,000 3 2 1618
16726 Carnegie Ave Detached $449,900 3 2 1368
23 Mountain Circle Detached $475,000 2 2 1363
19060 Indian Creek Ave Detached $524,000 3 2 1566
4635 Rembrandt Ln Detached $549,900 4 2.5 2056
5222 Carman Dr Detached $594,000 3 2 2543
1446 Holly Springs Rd Condo $612,000 4 2.5 1699
86 Greenridge Ct Attached $650,000 4 3.5 2718
14674 Rainbow Dr Detached $669,000 4 3 3190
4920 Mulholland Dr Attached $699,888 3 2.5 2498
13962 Knaus Rd Detached $749,500 4 2 2476
2461 Marylhaven Pl Detached $780,000 5 3 3382
825 McVey Ave Detached $875,000 5 4.5 4284
228 Furnace St Detached $875,000 2 1 2530
1050 Schukart Ln Detached $1,099,000 4 3.5 5437
4027 Canal Woods Ct Detached $1,195,000 4 3.5 4232
324 9th St Detached $1,299,900 3 2.5 2743
4316 Upper Dr Detached $1,349,000 4 3.5 4376
15566 Village Park Ct Detached $1,435,000 4 3.5 4855
1949 Cedar Ct Detached $1,699,000 5 5.5 6330
17435 Wren Ct Detached $1,895,000 4 3 2960
831 4th St Detached $1,948,000 5 6 5078
2493 Southshore Blvd Detached $3,599,000 5 5.5 7112
3358 Lakeview Blvd Detached $4,895,000 5 4 5133

Pending Sales (April 8-14, 2019)

Address Type Price BR Baths Sq Ft CDOM
100 Kerr Pkwy #32 Condo $159,000 1 1 617 5
100 Kerr Pkwy #46 Condo $159,900 1 1 617 39
40 Crestfield Ct Condo $184,900 1 1 690 3
45 Eagle Crest Dr #204 Condo $205,000 1 1 768 35
512 S State St Condo $229,989 1 1 829 28
48 Eagle Crest Dr 3B Condo $299,500 2 2 1550 23
31 Ladd St Detached $450,000 3 1 867 48
870 Lake Forest Dr Detached $454,900 3 2.5 1971 311
14352 Sherbrook Pl Detached $475,000 3 2.5 1806 17
21 Ladd St Detached $495,000 3 1.5 2436 48
13369 Peters Rd Detached $580,000 4 2.5 2474 179
1901 Mapleleaf Ct Detached $584,900 4 3 2800 23
14751 Rainbow Dr Detached $625,000 5 2 1591 3
19134 Terry Ave Detached $625,000 5 2 2557 8
9 Juarez St Detached $679,000 4 3.5 2823 1
1193 Troon Rd Detached $699,000 3 2.5 2546 12
5450 Sterling Way Detached $719,000 4 2.5 2496 14
819 Boca Ratan Dr Detached $765,000 4 3 2760 791
1604 Campus Way Detached $769,900 3 2.5 2607 70
663 Carrera Ln Detached $775,000 3 2 2197 13
203 Hidalgo St Detached $800,000 4 3.5 4310 4
4755 Avery Ln Detached $810,000 4 2.5 2735 3
15585 Manchester Dr Detached $825,000 4 3 3576 353
74 Touchstone Detached $849,000 6 3.5 4584 22
171 C Ave Attached $859,000 3 3 2308 29
17484 Bryant Rd Detached $1,269,900 4 3.5 3615 70
862 Cedar St Detached $1,275,000 4 3.5 3914 228
885 9th St Detached $1,499,000 4 3.5 3757 2
1101 Forest Meadows Way Detached $1,998,000 4 3.5 5001 311
3258 Lakeview Blvd Detached $3,250,000 4 4.5 4337 129

Sold/Closed (April 8-14, 2019)

Address Type List Price Sold Price Sq Ft CDOM
94 Oswego Summit Condo $245,000 $244,000 1140 5
3972 Carman Dr Condo $299,900 $280,000 1146 223
5053 Foothills Dr B Condo $340,000 $325,000 1252 164
4434 Thunder Vista Ln Condo $339,900 $352,000 2040 3
19 Condolea Dr Condo $514,000 $514,000 2157 4
17000 Gassner Ln Detached $549,000 $515,000 1832 161
14425 Holly Springs Rd Condo $569,000 $542,000 2238 61
4582 Trillium Woods Attached $585,000 $579,900 1927 131
1508 Pine St Detached $569,900 $590,000 2300 1
981 Cumberland Pl Detached $899,000 $655,000 3339 292
29 Spinosa Detached $664,900 $665,000 3262 3
45 Da Vinci St Detached $729,900 $710,000 3122 4
1080 Upper Devon Ln Detached $775,000 $775,000 2512 5
4120 Southshore Blvd Detached $795,000 $820,000 2079 2
5364 Langford Ln Detached $869,999 $842,000 3022 32
3730 Rivers Edge Dr Detached $1,039,000 $1,039,000 3427 2
179 Iron Mountain Blvd Detached $1,175,000 $1,100,000 5245 95
17211 Blue Heron Rd Detached $1,385,000 $1,247,000 2701 13
3101 Westview Ct Detached $1,395,000 $1,269,000 4290 359
17522 Bryant Rd Detached $1,324,900 $1,324,900 3545 23

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.

This Week in Lake Oswego ~ April 15-21, 2019

Spring is sprung in Lake Oswego~

Here are my picks for things happening this week!

Mon, Apr 15 2019– 4:15-5:00PM –  Little Hulas ~ -Every Monday ~ Ages 3-5/Introduction to Hula! Location:  CCP, 1060 Chandler Rd–  Info:  CLICK HERE

Tue, Apr 16, 2019 –  3:30-5:00PM – Teen Sushi & Cany-Making ~ Learn to make California Rolls *and* Candy Sushi!  Also…learn about Japanese etiquette from the pros at Benihana. Sushi Waiver required ; ) ~ Lake Oswego Public Library  Info:  CLICK HERE  

Wed, Apr 17, 2019 – 10:00-10:30PM – First Steps in Music ~ Every Wednesday Ages 1-3  ~Explore the musical potential in your family! Free admission to the indoor playground afterward!  Location:  CCP, 1060 Chandler Rd –Info:  CLICK HERE     

Thu, Apr 18, 2019 4:00PM – Understanding Italy ~ Explore history, food, cultural heritage and current issues with Professor Zagarell using themes from teh Italian Film Festival.  Lake Oswego Public Library ~ Info:  CLICK HERE

Fri, Apr 19, 2019 11:45AM-12:15PM Lunch! ~ Enjoy lunch woth other Lake Oswego residents every Mon, Wed & Fri! ~ Adult Community Center  Info: CLICK HERE

Sat, Apr 20, 2019 – 9:00AM – 11:00AM ~  Create A Nature Play Area! ~Help build a play area in nature at Springbrook Park with other community members & families. ~ Parking: Uplands Grade School, 2055 Wembley Park Rd  Info: CLICK HERE

Sun, Apr 21, 2019 – Free Day!   Just kidding. Every day in Lake Oswego, or anywhere else, is a free day!  Make your own choice as to how to enjoy your beautiful day in Lake Oswego.   Info: (Sky’s the limit ; )

 

Market Activity ~ April 1-7, 2019

There are a total of 237 homes for sale in Lake Oswego right now. Last week 29 New properties entered the market, 16 moved to Pending status, and 15 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (April 1-7, 2019)

Address List Price # Beds # Baths Total SF Prop Type
3846 BOTTICELLI ST / Grnd $295,000 2 1.1 1132 CONDO
48 EAGLE CREST DR #2E $315,000 3 2 1623 CONDO
48 EAGLE CREST DR #1B $320,000 3 2 1538 CONDO
16184 LAKE FOREST BLVD $360,000 3 1 1342 DETACHD
4410 THUNDER VISTA LN $364,900 2 2.1 2040 ATTACHD
1310 OAK TER $477,000 3 1 897 DETACHD
4725 JEAN RD $495,000 4 2 1433 DETACHD
1117 HEMLOCK ST $525,000 3 2 1680 DETACHD
6330 Shakespeare ST $549,900 4 3 1792 DETACHD
3595 TEMPEST DR $589,000 3 2 2126 DETACHD
13413 AUBURN CT $655,000 4 3.1 2721 ATTACHD
327 LAUREL ST $749,900 4 2 2520 DETACHD
1590 BONNIEBRAE DR $799,000 4 3 3163 DETACHD
2770 WEMBLEY PARK RD $839,000 5 3 3378 DETACHD
2585 DELLWOOD DR $885,000 4 3.1 3749 DETACHD
530 BOCA RATAN DR $895,000 4 3 3368 DETACHD
909 CUMBERLAND PL $995,000 4 3 3267 DETACHD
209 RIDGEWAY RD $999,950 4 3.1 2862 DETACHD
1111 BAYBERRY RD $1,098,000 3 2 2042 DETACHD
3210 CHILDS RD $1,239,000 3 2.2 2936 DETACHD
928 CEDAR ST $1,250,000 4 3.1 3182 DETACHD
4687 FIRWOOD RD $1,250,000 3 2.1 2803 DETACHD
272 GREENWOOD RD $1,295,000 4 3.1 3218 DETACHD
748 6TH ST $1,425,000 3 3.1 2865 DETACHD
408 NORTHSHORE RD $1,495,000 4 3.1 3753 DETACHD
3102 DOUGLAS CIR $1,695,000 5 4.1 4644 DETACHD
163 IRON MOUNTAIN BLVD $1,795,000 4 3.1 4314 DETACHD
1688 LESLIE LN $1,798,000 4 4.1 5540 DETACHD
1226 NORTHSHORE RD $6,888,000 4 5.1 5544 DETACHD

PENDING SALES (April 1-7, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
81 GALEN ST / Grnd $170,000 1 1 689 CONDO 69
3930 LAKE GROVE AVE #2A $215,000 2 1 952 CONDO 4
71 OSWEGO SMT/Upper $239,000 2 2 1140 CONDO 2
4643 LAKEVIEW BLVD / Upper $279,900 2 2 1178 CONDO 43
12714 BOONES FERRY RD $299,000 3 1 996 DETACHD 44
3964 CARMAN DR $299,900 2 2.1 1098 CONDO 148
1410 SPRUCE ST $499,900 3 2 1242 DETACHD 46
520 5TH ST $499,950 2 1 953 DETACHD 5
17270 BRYANT RD $519,000 3 3 2047 DETACHD 2
214 NORTHSHORE RD $599,000 2 1 1776 DETACHD 2
4078 MELISSA DR $699,900 4 2.1 2691 DETACHD 11
2050 WEMBLEY PARK RD $715,000 4 2 1868 DETACHD 107
730 8TH ST $829,000 4 3 2395 DETACHD 3
55 NORTHSHORE RD #1 $879,000 3 2 2352 CONDO 15
18430 TAMAWAY DR $950,000 5 2.2 3977 DETACHD 2
4146 LAKEVIEW BLVD $1,500,000 4 3.1 3279 DETACHD 371

SOLD (April 1-7, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
86 KINGSGATE RD #I-102 $219,900 $213,000 2 2 849 CONDO 4
192 CERVANTES $299,000 $285,500 2 1.1 1275 CONDO 10
16200 PACIFIC HWYb #6 $395,000 $392,500 2 2 1190 CONDO 115
12802 BOONES FERRY RD $399,500 $399,500 3 2.1 1182 CONDO 3
5079 W SUNSET DR $529,900 $520,000 2 2.1 1734 ATTACHD 81
2440 GREENTREE RD $509,900 $530,000 3 1.1 1850 DETACHD 3
15865 BOONES WAY $560,000 $560,000 3 2 1708 DETACHD 0
4749 BLACK FOREST CT $639,900 $639,900 4 2.1 2255 DETACHD 3
17890 KELOK RD $769,000 $760,000 4 2.1 3095 DETACHD 48
15545 VILLAGE PARK CT $799,950 $773,495 4 2.1 2735 DETACHD 24
4028 ORCHARD DR $825,000 $795,080 4 2.1 3343 DETACHD 30
5328 LOWER DR $824,900 $830,000 4 2.1 2600 DETACHD 1
1956 HIGHLANDS LOOP $1,849,000 $1,800,000 5 4.1 4641 DETACHD 735
320 CHANDLER PL $2,695,000 $2,300,000 5 3.1 4675 DETACHD 288
420 RIDGEWAY RD $2,695,000 $2,500,000 4 4 3505 DETACHD 17

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.

Emergency Preparedness Fair

The City of Lake Oswego is hosting an emergency preparedness fair on April 24th, a Wednesday. It will be held from 5:30-7:30 pm at the Lake Oswego Maintenance Center (17601 Pilkington Rd).

We have no idea what sort of emergencies lay in our future. It is now well known that the Pacific Northwest has a history of huge earthquakes that on average occur every couple of hundred years and that we are now about 200 years since the last one occurred. Other potential events are flooding (that happened in 1996), severe storms, and fires. Being prepared is pretty important.

The emergency preparedness fair is going to feature about 20 booths sharing information on putting together your own preparedness kit that will address the need for supplies, food, water storage, pets, sanitation, and even CPR training.

Water is a particular concern as it is estimated that each person and pet in a household needs a gallon of water per day and that we should plan for a 14 day supply. At the preparedness fair the city will be giving out 300, 3-gallon water containers that can be used to collect water from distribution centers that, in the event of an emergency, will be set up by the city.

This sounds like a wonderful event that is free and worthwhile. See you there!
Dianne

Market Activity March 25-31, 2019

Last week in Lake Oswego 12 new listings came onto the market, 15 properties accepted offers and went into pending status, and 16 properties became sold/closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (March 25-31, 2019)

Address Type Price BR Baths Sq Ft
668 McVey Ave #10 Condo $329,950 3 1.5 992
48 Eagle Crest Dr 2C Condo $349,000 3 2 1623
12864 Boones Ferry Rd Townhouse $389,900 2 2.5 1182
38 Weatherstone Condo $395,000 3 2.5 1692
647 2nd St Attached $579,900 3 2 1457
4889 Hampton Ct Detached $634,950 3 2.5 2206
1193 Troon Rd Detached $699,000 3 2.5 2546
4078 Melissa Dr Detached $699,900 4 2.5 2691
663 Carrera Ln Detached $775,000 3 2 2197
550 Middlecrest Rd Detached $880,000 2 2.5 2226
13078 Fielding Rd Detached $1,500,000 4 2 3936
17010 Canal Circle Detached $1,595,000 4 4 3931

Pending Sales (March 25-31, 2019)

Address Type Price BR Baths Sq Ft CDOM
10 Oswego Summit Condo $164,900 1 1 764 45
45 Eagle Crest Dr #218 Condo $179,900 1 1 768 9
5335 Jean Rd #402 Condo $299,500 2 2 1400 5
4308 Botticelli St Townhouse $384,995 3 3.5 2098 129
1 Eagle Crest Dr Detached $389,000 3 2 1265 5
668 McVey Ave #36 Condo $389,900 2 1 852 8
125 Condolea Dr Condo $475,000 3 3 2186 9
732 Ellis Ave Detached $489,000 3 2 1632 38
1901 Mapleleaf Ct Detached $584,900 4 3 2800 8
18790 Bryant Rd Detached $599,900 3 2.5 2489 17
4966 Harvard Ct Detached $639,900 4 2.5 3078 9
5736 Southwood Dr Detached $746,500 4 2.5 3120 59
19357 Riverwood Ln Detached $849,500 4 2.5 2916 5
16560 Glenwood Ct Detached $899,000 3 2.5 2558 7
1233 Cherry Ln Detached $2.099,000 5 4.5 6052 175

Sold/Closed (March 25-31, 2019)

Address Type List Price Sold Price Sq Ft CDOM
47 Eagle Crest Dr #37 Condo $134,900 $113,000 672 68
100 Kerr Pkwy #6 Condo $174,900 $159,900 617 259
104 Oswego Summit Condo $170,000 $175,280 764 22
3343 5th St #2 Condo $250,000 $241,500 910 20
48 Eagle Crest Dr 5C Condo $279,000 $269,000 1443 104
2071 Bonniebrae Dr Townhouse $379,900 $379,900 1611 7
210 S State St #2 Condo $395,000 $385,000 1715 10
553 6th St Detached $579,000 $475,000 1390 158
4954 Mulholland Dr Attached $599,900 $600,600 2498 4
1359 Larch St Detached $685,000 $635,000 3168 88
17 Westridge Dr Detached $725,000 $698,900 3533 34
2120 Ridgewood Rd Detached $779,000 $766,000 2382 5
903 Ash St Detached $999,000 $928,125 2765 231
1628 Lake Front Rd Detached $1,080,000 $1,020,000 2470 35
13750 Knaus Rd Detached $1,299,000 $1,160,000 4773 354
13236 Amber Pl Detached $1,499,950 $1,490,000 3966 283

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.

This Week in Lake Oswego ~ Apr 1-7, 2019

Spring is sprung in Lake Oswego~

Here are my picks for things happening this week!

Mon, Apr 1 2019– 1:00-1:00PM –  American Mah Jongg Practice ~ -Every Monday you’re invited to join the program playing Mah Jongg in groups of 4. This is a game of skill, strategy and calculation and involves a certain degree of chance. ~ Adult Community Center –  Info:  CLICK HERE

Tue, Apr 2, 2019 –  7:00-8:30PM – First Tuesday Music, Featuring: Ronnie Robins/ RR2 Duo ~ Brazilian flavored originals and standards! ~ Lake Oswego Public Library  Info:  CLICK HERE  

Wed, Apr 3, 2019 – 1:00-2:30PM – Supervised Computer lab ~ Every Wednesday you’re invited to Practice, Learn, Get Questions Answered, Download Programs You May Need etc in a fun, helpful environment. –Info:  CLICK HERE     

Thu, Apr 4, 2019 9:00AM-12:00PM – Sculpy Sculpture Camp! ~ Ages 8-12/Repeats every Thurs & Fri and involves building wire and tin foil armatures and covering them with sculpy! ~  CCP, 1060 Chandler Rd: Info & Registration  CLICK HERE

Fri, Apr 5, 2019 1:00-2:00PM Jottings from 5th and G ~Enthusiastic Writers and Inspired Authors are invited to join and create weekly articles submitted to the Lake Oswego Review! (Monthly 1st Fridays except the month of May)~ Adult Community Center  Info: CLICK HERE

Sat, Apr 6, 2019 – 10:00AM – 4:00PM ~ 39th Annual Trillium Festival & Native Plant Sale! ~ Nature & Plant Lovers rejoice!This is the annual gala for learning and indulging in native species for wildlife habitat and more. Tryon Creek Naturak Area, 11321 SW Terwilliger Blvd.  Learn more about Friends of Tryon Creek HERE. Info on the Festival: CLICK HERE

Sun, Apr 7, 2019 – 1:00PM-3:00PM ~ Iron Mt Park – Stewardship Work Party ~ Time for Spring Cleanup to remove invasive species… and enjoy wandering around in the breathtaking beauty   ; ) Info: CLICK HERE

 

Market Activity ~ March 18-24, 2019

There are a total of 214 homes for sale in Lake Oswego right now. Last week 21 New properties entered the market, 25 moved to Pending status, and 18 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 18-24, 2019)

Address List Price # Beds # Baths Total SF Prop Type
48 EAGLE CREST DR #3B $309,000 2 2 1550 CONDO
5944 BURMA RD $350,000 3 1 1378 DETACHD
34 WHEATHERSTONE $430,000 3 2.1 1692 CONDO
14352 SHERBROOK PL $475,000 3 2.1 1806 DETACHD
125 CONDOLEA DR $475,000 3 3 2186 CONDO
71 KINGSGATE RD $489,900 3 2.1 1727 DETACHD
5371 GREYSTOKE DR $569,000 3 2 1782 DETACHD
1901 MAPLELEAF CT $584,900 4 3 2800 DETACHD
14 NORTHVIEW CT $695,000 4 3.1 3279 ATTACHD
185 FURNACE ST $810,000 2 2.1 1927 CONDO
74 TOUCHSTONE $849,000 6 3.1 4584 DETACHD
55 NORTHSHORE RD #1 $879,000 3 2 2352 CONDO
1961 SUMMIT DR $896,000 3 2.1 3137 DETACHD
5327 CARMAN GROVE LN $949,500 4 3 3125 DETACHD
18409 OLD RIVER DR $969,000 4 3.1 3681 DETACHD
3250 FIR RIDGE RD $1,300,000 4 3.1 3541 DETACHD
3270 FIR RIDGE RD $1,395,000 4 3.1 3872 DETACHD
18320 MEADOWLARK LN $1,799,900 4 4.2 6053 DETACHD
4011 WESTBAY RD $1,895,000 4 3 4518 DETACHD
1976 HIGHLANDS LOOP $1,975,000 4 3.2 4881 DETACHD
19025 HILL TOP RD $2,279,000 5 4.1 5366 DETACHD

PENDING SALES (March 18-24, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
200 BURNHAM RD #303 $230,000 2 1 1199 CONDO 54
526 S STATE ST #5a $279,900 2 1 914 CONDO 8
5225 JEAN RD #104 $288,000 2 2 1400 CONDO 59
192 CERVANTES $289,000 2 1.1 1275 CONDO 10
5053 FOOTHILLS DR #B $329,000 3 2 1252 CONDO 164
19 CONDOLEA DR $514,000 2 2.1 2157 CONDO 4
17620 SYDNI CT $525,000 3 2.1 2182 TOWNHSE 1
15865 BOONES WAY $560,000 3 2 1708 DETACHD 0
1651 LARCH ST $565,000 4 3 2225 DETACHD 14
116 GREENRIDGE CT $575,000 3 3.1 2832 ATTACHD 1
4582 TRILLIUM WOODS $579,900 3 2.1 1927 ATTACHD 131
16835 FERNWOOD DR $580,000 4 2 1952 DETACHD 39
18667 PILKINGTON RD $590,000 4 2.1 2512 DETACHD 19
24 BECKET ST $608,000 4 2.1 2527 DETACHD 16
1038 OAK ST $609,900 4 2 2594 DETACHD 252
737 ASH ST $649,990 4 2 2428 DETACHD 6
5015 PARKHILL ST $775,000 3 3 2628 DETACHD 50
5200 WESTFIELD CT $775,000 4 2.1 3132 DETACHD 4
15 NANSEN SMT $775,000 3 2.1 3098 DETACHD 3
3335 CEDAR CT $975,000 4 3 3800 DETACHD 6
805 Evergreen $1,199,000 5 4 2893 DETACHD 349
951 LAKE FRONT RD $1,498,000 3 2.1 1713 DETACHD 166
1973 CHERYL CT $1,675,000 5 4.1 6436 DETACHD 582
1277 CHANDLER RD $1,998,000 4 3.1 4500 DETACHD 471
420 RIDGEWAY RD $2,695,000 4 4 3505 DETACHD 17

SOLD (March 18-24, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
200 BURNHAM RD #303 $230,000 2 1 1199 CONDO 54
526 S STATE ST #5a $279,900 2 1 914 CONDO 8
5225 JEAN RD #104 $288,000 2 2 1400 CONDO 59
192 CERVANTES $289,000 2 1.1 1275 CONDO 10
5053 FOOTHILLS DR #B $329,000 3 2 1252 CONDO 164
19 CONDOLEA DR $514,000 2 2.1 2157 CONDO 4
17620 SYDNI CT $525,000 3 2.1 2182 TOWNHSE 1
15865 BOONES WAY $560,000 3 2 1708 DETACHD 0
1651 LARCH ST $565,000 4 3 2225 DETACHD 14
116 GREENRIDGE CT $575,000 3 3.1 2832 ATTACHD 1
4582 TRILLIUM WOODS $579,900 3 2.1 1927 ATTACHD 131
16835 FERNWOOD DR $580,000 4 2 1952 DETACHD 39
18667 PILKINGTON RD $590,000 4 2.1 2512 DETACHD 19
24 BECKET ST $608,000 4 2.1 2527 DETACHD 16
1038 OAK ST $609,900 4 2 2594 DETACHD 252
737 ASH ST $649,990 4 2 2428 DETACHD 6
5015 PARKHILL ST $775,000 3 3 2628 DETACHD 50
5200 WESTFIELD CT $775,000 4 2.1 3132 DETACHD 4
15 NANSEN SMT $775,000 3 2.1 3098 DETACHD 3
3335 CEDAR CT $975,000 4 3 3800 DETACHD 6
805 Evergreen $1,199,000 5 4 2893 DETACHD 349
951 LAKE FRONT RD $1,498,000 3 2.1 1713 DETACHD 166
1973 CHERYL CT $1,675,000 5 4.1 6436 DETACHD 582
1277 CHANDLER RD $1,998,000 4 3.1 4500 DETACHD 471
420 RIDGEWAY RD $2,695,000 4 4 3505 DETACHD 17

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.

Rental Investing

I often tell first-time buyers that an excellent goal is to be able to keep that first house as a rental as opposed to selling it. Interest rates on owner-occupied mortgages are generally lower and a house can be purchased with a smaller down payment if you are buying it as your primary residence. If all of us could keep every home we have ever purchased, we could, over our lifetimes, gradually build quite a portfolio of rental properties. Of course life has a way of occurring differently than planned, but the general concept is a good one.

Linda and I both work quite a lot with investors who purchase and sell rental properties. It is a different experience than when you are buying a home to live in. Considerations have to be made about whether or not the property can be rented. This is especially true with condominiums. Many Home Owner’s Associations have restrictions on renting. It’s also important to know that within the city limits of Lake Oswego short-term rentals, considered to be for less than 30 days, are not allowed. This means no airbnb or vacation rentals are allowed.

Now comes an entirely new twist. The State of Oregon has just enacted rental restrictions related to rent increases and evictions. I am not going to claim to be an expert, but I do have a general idea of what is going on. More importantly, I can direct you to a great resource with someone who is an expert.

First, what’s going on. Rental increases are now restricted to not more than 7% plus the rate of inflation in any one year. This is actually quite a lot. But if you are working with a property that is grossly under rented, it will take time to bring the rent in line with market value. It also means that if you own rentals that you will eventually be selling, you should be doing rent increases while you own the property so that when you go to sell it, the rents will be in line with the market.

Second, no cause evictions are now pretty much non existent. During the first twelve months of a tenancy a tenant can still be evicted without cause. Without cause means you can give notice that the tenant has to move out and not state why. You are simply demanding that they move. That’s it. But on day 366 of the tenancy the no cause eviction is no longer allowed. This means that evicting a tenant will require that you give a reason that falls within the allowed parameters. With cause can include non-payment of rent, damage that they’ve done to the property, if a government agency has determined that the property is not safe to live in, etc. One reason that you can not use as cause for eviction? That you plan to sell the house. So if you have a rental property that you plan to sell, it has to be put onto the market with the tenant in place. A tenant can choose to move when they learn the house is going to be sold. The restriction is on the landlord, not the tenant. If you get an offer from someone who intends to move into the property as their primary residence, then you can evict them. But if your buyer intends to also hold the property as a rental, then the tenant can not be evicted and the tenant will continue to live in the property after it is sold.

As you can see, it’s pretty complicated. I am not an attorney and with landlord tenant law that you have questions about, you really should consult an attorney. This brings me to a wonderful resource that I have been given permission to pass along. I met an attorney this past week whose entire practice is built on representing landlords. He does not represent tenants. He also only gives advice to his clients, so he won’t do a consultation for free. He does however have a great website that has lots of information that is available at no charge. He is Tim Murphy of Murphy Law Group P.C., and his website is www.oregonlandlord.net. On his website he has summation material about the new Oregon law as well as the new laws that are in effect in the City of Portland.

I hope you have found this helpful. As always, thanks for reading.
Dianne

Market Activity March 11-17, 2019

Last week in Lake Oswego 18 new listings came onto the market, 24 properties accepted offers and went into pending status, and 10 properties became sold/closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (March 11-17, 2019)

Address Type Price BR Baths Sq Ft
45 Eagle Crest Dr #218 Condo $179,900 1 1 768
512 S State St Condo $229,989 1 1 829
3814 Botticelli St Condo $279,000 2 2 1055
526 S State St 5a Condo $279,900 2 1 914
5054 Foothills Dr D Condo $345,000 2 2 1252
17606 Sydni Ct Townhouse $575,000 3 2.5 2442
336 Livingood Ln Detached $575,000 4 2.5 2392
737 Ash St Detached $649,990 4 2 2428
15 Nansen Summit Detached $775,000 3 2.5 3098
14183 Taylors Crest Ln Detached $799,000 4 2.5 3551
554 Luce Ln Detached $799,900 4 3 3269
171 C Ave Attached $879,000 3 3 2308
335 Cedar Ct Detached $975,000 4 3 3800
1385 Morning Sky Ct Detached $1,240,000 3 2.5 3690
2013 Ridgewood Rd Detached $1,248,000 5 3.5 4327
1835 Cedar Ct Detached $1,249,000 3 3.5 3165
1949 Cedar Ct Detached $1,745,000 5 5.5 6330
2260 Summit Ct Detached $2,158,000 5 4.5 3797

Pending Sales (March 11-17, 2019)

Address Type Price BR Baths Sq Ft CDOM
47 Eagle Crest Dr #37 Condo $115,000 1 1 672 68
86 Kingsgate Rd I-102 Condo $219,900 2 2 849 4
3972 Carman Dr Condo $299,900 2 2.5 1146 223
4434 Thunder Vista Ln Condo $339,900 2 2.5 2040 3
1589 Boca Ratan Dr Townhouse $378,500 3 2 1611 37
4433 Thunder Vista Ln Condo $379,000 3 2.5 2002 177
12884 Boones Ferry Rd Condo $395,000 2 2.5 1182 11
16200 Pacific Hwy #6 Condo $395,000 2 2 1190 115
18430 Terry Ave Detached $460,000 3 2 1568 5
17297 Bryant Rd Detached $529,000 3 2 1428 51
13371 Peters Rd Detached $549,900 3 2.5 2340 25
5835 Langford Ln Detached $560,000 2 2 1850 11
515 Atwater Rd Detached $637,625 3 2.5 2746 37
5725 Southwood Dr Detached $687,000 4 2.5 2406 3
332 Lakewood Rd Detached $700,000 3 1.5+.5 2242 0
981 Cumberland Pl Detached $725,000 4 2 3339 292
2025 Glenmorrie Ln Detached $780,000 3 2 2652 25
17479 Brookhurst Dr Detached $810,000 4 2.5 3711 2
6048 Lakeview Blvd Detached $849,000 4 2.5 2640 128
6044 Clairmont Ct Detached $880,000 4 2.5 3430 177
17494 Lake Haven Dr Detached $950,000 2 2 2121 279
892 8th St Detached $1,250,000 4 3.5 2747 242
407 G Ave Detached $1,980,000 4 3.5 4635 12
320 Chandler Pl Detached $2,395,000 5 3.5 4675 288

Sold/Closed (March 11-17, 2019)

Address Type List Price Sold Price Sq Ft CDOM
63 Oswego Summit Condo $179,900 $185,000 1058 3
218 Ridgeway Rd Condo $284,000 $279,700 914 18
293 Cervantes Townhouse $350,000 $330,000 1384 77
17156 Rebecca Ln Detached $545,000 $534,000 2026 43
1010 Upper Devon Ln Detached $699,000 $630,000 3068 144
5474 Bay Creek Dr Detached $649,900 $640,000 2322 15
18048 Eastridge Ln Detached $1,375,000 $974,903 4336 426
1451 Horseshoe Curve Detached $1,198,000 $1,163,000 2062 13
1122 Bayberry Rd Detached $1,498,000 $1,425,000 3259 19
3130 Douglas Circle Detached $1,595,000 $1,500,000 4063 189

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.

News & Notes ~ February 2019 Numbers

Here is your look at the most recent data for the entire Portland area (Feb 2019) and how Lake Oswego fits in to this picture just below.

According to the RMLS Market Action Report for the Portland Metro Area, February, 2019:

  • There were 2,444 New Listings in February 2019 which was down 3.4%  from February of 2018’s 2,530, and also down  a whopping 19.8% from the previous month/January’s total of 3,048.  ***This was the coolest February since 2014 when the New Listings in Feb were 2,354.
  • At 1,726 February 2019’s Closed Sales were mixed. They cooled  4.4% from February 2018’s 1,806, BUT, rose a substantial 19.0 % from the previous month/Jan 2019’s total of 1,451.
  • February 2019’s Pending Sales (accepted offers), at 2,208 were also mixed: Down 5.5% down from February of 2018’s 2,337, AND, ahead 8.0% from the previous month/Jan 2019’s total of  2,045.
  • The Average Sale Price in February 2019 of $441,100 was basically unchanged/down just slightly ($800.00!) from last year/February 2018’s $441,900, and up from the previous month/Jan 2019’s $435,600 by $5,500.  
  • The “Median” Sale Price (so…the price smack dab in the middle of all sales) in February 2019 of $399,900 was up $14,900.00 from last year/February 2018’s $385,000, and also up about the same, $15,000, from the previous month/Jan 2019’s $384,900.   

Neighborhoods: February’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $427,800              2.5%   (Jan 403,900)
    •                                                     YTD Median: $395,500
  • NE Portland:  $462,400                   3.2%   (Jan 439,500)
    •                                                     YTD Median: $393,300
  • SE Portland:  $404,600                   4.5%   (Jan 390,000)
    •                                                     YTD Median: $359,900
  • Gresham/Troutdale:   $348,400     5.7%   (Jan 349,300)
    •                                                     YTD Median: $349,900
  • Milwaukie/Clackamas:  $413,800  3.0%   (Jan 410,500)
    •                                                     YTD Median: $395,600
  • Oregon City/Canby:   $424,700      7.0%   (Jan 397,100 )
    •                                                     YTD Median: $393,000
  • Lake Oswego/West Linn:$677,000 1.9%   (Jan 664,200)
    •                                                      YTD Median: $547,000
  • West Portland:    $551,000             1.7%   (Jan 589,800)
    •                                                     YTD Median: $525,000
  • NW Wash County:  $504,300          1.3%   (Jan 559,600)
    •                                                      YTD Median: $510,000
  • Beaverton/Aloha:     $413,800       8.6%   (Jan 393,900)
    •                                                     YTD Median: $380,000
  • Tigard/Wilsonville:   $469,400       6.5%   (Jan 440,100)
    •                                                      YTD Median: $435,000
  • Hillsboro/Forest Grove: $379,600  5.0%   (Jan 391,500 )
    •                                                      YTD Median: $369,900

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of February 2019 reported:

    •  317 Active Listings   (Jan 299 )
    •  156 New Listings     (Jan 185)
    •  103 Pending Sales   (Jan 94)
    •   81 Closed Sales      (Jan 82)
    • Average Sale Price for February: $677,000  (Jan $664,200)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    • 108 Average Days on the Market   (Jan 76)