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.

Contact: Dianne | Linda

Subscribe by EMail

Enter your email address:



Brought to you by:

My Best Advice and My Hardest Job

I hope that as a reader of the Property Blotter you are getting a sense of what makes real estate happen. Linda and I really strive to provide you with data, and also with tips, pointers, and useful information. This week I thought I’d give you just two quick tid bits.

Let’s start with my best advice. In a word, chill. There are so many factors that contribute to the purchase or sale of a home. There is the buyer and the buyer’s Realtor, the seller and the seller’s Realtor, the mortgage broker, the mortgage underwriter, the title company and the escrow officer that represents the title company, the home inspector, and more. In other words, there are lots of people all doing their job to coordinate and come together to make the sale happen. With so many people involved, it doesn’t take much to create a snag. If the underwriter wants an updated tax statement, if the title company discovers an unexpected lien, if the buyer is in transit and air born on a flight to New York, all of these elements are completely normal and can cause a delay. Going into the purchase or sale of a home, know that everyone is doing their best to meet deadlines, but be prepared to be flexible. It simply is the nature of the business that things come up, so my best advice is to take a deep breath and try to remain calm. It will all come together and stressing over it accomplishes nothing useful.

As for my hardest job, it is working on behalf of my client even when it is not intuitively what I think is the best course of action. I work for my client. I know this. Occasionally, not very often mind you but occasionally, I have a client who feels the best course of action is to make a request or exercise an idea that is not something I agree with. This will never, ever happen in regards to something dishonest or illegal, absolutely not, and this is not what I am referring to here. What I am referring to is something perfectly legal and honest, but still something that I would not normally advise. Here is my example. A few years ago I represented a very particular client. It was strong seller’s market where offers were competitive and houses were selling quickly. To buy in this environment requires making the best offer possible. My buyer just did not want to pay one dollar more than necessary. That is understandable, but there are also times when a buyer must step up or they will not get into a home. This buyer simply would not do it. She made offer after offer without success.

I can give advice, and I do, but ultimately my clients decide the best course of action for themselves. My job is to LISTEN and then act upon their desires. And so, with this client, we went through the process of her learning. It took two years. By the time she came to realize that she really did have to make a competitive offer, and not try to negotiate the price, a good deal of time had gone by. Ultimately she ended up spending about 15% more for a house that had gone up in value during the time she was learning about the market. That is just really hard to experience.

So those are my two insights that I wanted to share with you this week. I think it can be summed up by saying that you will benefit by not stressing out during the course of buying or selling, and also by hiring a Realtor who will really listen to you and act on your desires, but also by listening to your Realtor and realizing that they too are offering you good advice that can help your experience go more smoothly and to your benefit.

Enjoy the sunshine!
Dianne

Hallinan House

Hello Property Blotter Readers!!!

I just thought of you this morning because I have an out-of-town cash Buyer looking for a property in the Hallinan neighborhood.  ***If you are thinking of selling your home in Hallinan, please contact me ASAP, and I’ll give you more details of what they’re looking for to see if we have a fit!

Enjoy the increasing sunshine~

Very Best,

Linda

Market Activity April 9-15, 2018

I love spring! It is absolutely beautiful outside as I write this. Sunny, blue skies, lots of flowers in bloom, this is just a stunning time of year in Lake Oswego.

Along with the beauty of spring, we are in the full throws of the spring market. Last week in Lake Oswego we had 20 homes enter the market, 32 moving into pending status, and 22 sold/closed properties.

Following is the breakdown for you according to RMLS:

New on the Market (April 9-15, 2018)

Address Type Price BR Baths Sq Ft
125 Oswego Summit Condo $180,000 1 1 764
86 Kingsgate Rd #47 Condo $199,900 2 2 840
3433 McNary Pkwy Condo $229,000 2 2.5 1208
48 Eagle Cresst Dr 4E Condo $305,000 2 2 1489
4442 Thunder Vista Ln Condo $335,000 2 2.5 1829
6070 Lakeview Blvd Detached $350,000 3 2 1416
21 Summit Ridge Ct Attached $429,000 2 2.5 1654
5835 Carman Dr Detached $449,900 3 2.5 1650
28 Northview Ct Attached $574,000 2 3 2092
75 Touchstone Detached $700,000 4 2.5 2373
17960 Ridge Lake Dr Detached $750,000 4 2.5 3124
10 Morningview Ln Detached $775,000 4 3.5 3848
18028 Westminster Dr Detached $805,000 4 3.5 4501
15818 Springbrook Ct Detached $914,900 3 3 2538
144 Leonard St Detached $1,095,000 4 3.5 3363
17312 Bergis Farm Dr Detached $1,149,000 4 4.5+.5 4808
13637 Westlake Dr Detached $1,350,000 4 4.5 3868
17407 Redfern Ave Detached $1,599,950 4 4.5 5206
1210 Chandler Rd Detached $3,488,000 6 6.5+.5 7455
4643 Firwood Rd Detached $1,099,000 3 2.5 2790

Pending Sales (April 9-15, 2018)

Address Type Price BR Baths Sq Ft CDOM
52 Oswego Summit Condo $204,900 1 1 705 15
47 Crestfield Ct Condo $205,000 2 1 921 6
200 Cervantes Condo $225,000 3 1.5 1138 63
45 Eagle Crest Dr #510 Condo $246,900 1 1 830 45
4000 Carman Dr A11 Condo $249,900 2 2 869 55
668 McVey Ave #74 Condo $285,000 1 1 636 26
16200 Pacific Hwy #7 Condo $365,000 2 2 1190 13
16909 Tracy Ave Detached $439,999 4 2 1499 4
5101 Rosewood St Detached $509,900 3 2.5 1736 3
528 2nd St Condo $525,000 2 2.5 1567 101
5875 Bonita Rd Detached $550,000 5 3.5 2650 199
3300 Southshore Blvd Detached $599,000 2 1.5+.5 1062 8
377 Livingood Ln Detached $624,000 3 2.5 2409 2
130 Del Prado St Detached $659,900 4 3 2419 3
4 Bernini Ct Detached $665,000 4 3 3028 10
4051 Virginia Way Detached $679,333 3 2 1750 2
2033 Ridgewood Rd Detached $699,000 4 2.5 2668 622
2325 Oakhurst Ln Detached $780,000 5 2.5 3627 51
754 Oak Meadow Ct Detached $839,900 4 2.5 3283 4
18120 Delenka Ln Detached $850,000 5 2.5 3157 31
4904 Lower Dr Detached $864,900 4 3 2844 3
16805 Old River Dr Detached $875,000 3 2 1728 9
13978 Westcott Ct Detached $925,000 4 3 3267 73
4305 Upper Dr Detached $950,000 5 2.5 3483 191
13507 Streamside Dr Detached $999,000 4 3.5 3716 2
832 9th St Detached $1,150,000 3 2 2149 5
937 F Ave Detached $1,199,900 5 3 2736 57
4688 Upper Dr Detached $1,449,000 4 3.5 3962 152
13740 Fielding Rd Detached $1,495,000 4 3.5 4471 12
1655 Leslie Ln Detached $1,725,000 4 3.5 4805 324
3866 Botticelli St #27 Condo $286,500 2 1.5 1132 3
668 McVey Ave #64 Condo $295,000 1 1 636 7

Sold/Closed (April 9-15, 2018)

Address Type List Price Sold Price Sq Ft CDOM
3433 McNary Pkwy #405 Condo $198,000 $200,000 1208 3
18319 Terry Ct Detached $350,000 $350,000 1,191 18
93 Kingsgate Rd Detached $410,000 $405,000 1,669 427
200 Burnham Rd #211 Condo $450,000 $440,000 1862 6
4470 Golden Ln Condo $459,000 $454,500 2102 3
825 Oak St Detached $449,000 $470,000 1350 3
12 Da Vinci St Detached $684,000 $490,000 2959 113
1515 Cloverleaf Rd Detached $495,000 $495,000 2206 7
19 Westridge Dr Detached $624,800 $629,800 3711 30
168834 Cherry Crest Ave Detached $649,900 $650,000 2598 2
13171 Sandalwood Ct Detached $715,000 $675,000 3325 50
13602 Provincial Hill Way Detached $675,000 $675,000 2420 6
3088 Rosemary Ln Detached $719,000 $702,500 3233 23
5616 Southwood Dr Detached $781,500 $750,000 3043 24
1 Mountain View Ln Detached $800,000 $775,000 3352 19
17614 Brookhurst Dr Detached $782,500 $796,500 3386 1
4376 Snowbrush Ct Detached $899,000 $820,000 4173 49
3920 Upper Dr Detached $1,350,000 $1,030,000 3800 127
2735 Glen Eagles Rd Detached $1,379,900 $1,330,000 2938 35
149 Pine Valley Rd Detached $1,450,000 $1,400,000 3220 6
1144 Bayberry Rd Detached $1,449,000 $1,425,000 3523 6
17104 Cedar Rd Detached $1,628,800 $1,550,000 3345 163

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 ~ March, 2018

Happy Springtime to our Property Blotter readers!  In our look at activity during the month of March we see a general pattern of a lowering or slight increase over last year during the same month, and a big increase over the prior month/Feb of 2018 in most all areas.

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

  • According to the RMLS Market Action Report for the Portland Metro Area, March, 2018:
    • There were 3,648 New Listings in March 2018 which was up 1.2% from March of 2017’s 3,604, and up a whopping 44.2% from the previous month/Feb of 2018’s total of 2,530.
    • At 2,371, March Closed Sales were down 4.9% from March 2017’s 2,494, and up a whopping 31.3% from the previous month/Feb 2018’s total of  1,806.
    • March’s Pending Sales (accepted offers), at 2,894 dropped 4.9% from March of 2017’s 3,043, and increased another whopping 23.8% from the previous month/Feb 2018’s total of 2,337
    • The Average Sale Price in March of $445,900 was up $17,500 from March 2017’s $428,400, and also up from February 2018’s $441,900 by $4,000.   

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

  • North Portland:  $438,700              6.6%   (Feb 418,000)
  • NE Portland:  $478,900                   7.3%   (Feb 462,400)
  • SE Portland:  $418,600                   8.4%   (Feb 418,700)
  • Gresham/Troutdale:   $356,400   12.0%   (Feb 339,400)
  • Milwaukie/Clackamas:  $423,400  9.4%   (Feb 406,100)
  • Oregon City/Canby:   $396,500      6.0%   (Feb 381,200)
  • Lake Oswego/West Linn:$631,100 6.1%   (Feb 706,400)
  • West Portland:    $597,200             3.1%   (Feb 602,500)
  • NW Wash County:  $550,200          7.5%   (Feb 540,100)
  • Beaverton/Aloha:     $386,000        9.1%   (Feb 380,500)
  • Tigard/Wilsonville:   $456,700        7.4%   (Feb 443,600)
  • Hillsboro/Forest Grove: $403,800  9.9%   (Feb 384,600)

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for the month of March 2018 reported:

    •  306 Active Listings   (Feb 296)
    •  225 New Listings     (Feb 158)
    •  188 Pending Sales  (Feb 120)
    •  117 Closed Sales      (Feb 92)
    • Average Sale Price for Feb: $631,100  (Feb 706,400)
      • 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.
    •  82 Average Days on the Market   (Feb 107)

Market Activity ~ April 2-8, 2018

Last week 27 New properties entered the market in Lake Oswego, 20 moved to Pending status, and 18 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (April 2-8, 2018)

Address List Price # Beds # Baths Total SF Prop Type
100 Kerr PKWY 27 $198,000 2 2 832 CONDO
354 CERVANTES CIR 1C $205,000 2 1.1 912 CONDO
47 CRESTFIELD CT/Grnd $205,000 2 1 921 CONDO
200 BURNHAM RD 203 $222,000 2 1 1160 CONDO
4000 CARMAN DR 50 $279,000 1 1 890 CONDO
668 MCVEY AVE 64 $295,000 1 1 636 CONDO
19200 REDWING CT $499,900 4 3 2128 DETACHD
3300 SOUTHSHORE BLVD $599,000 2 1.2 1062 DETACHD
4 BERNINI CT $665,000 4 3 3028 DETACHD
17441 BLUE HERON DR $679,000 4 3 2265 DETACHD
4261 GLACIER LILY ST $694,500 4 2.1 2693 DETACHD
2814 VALE CT $700,000 4 3 3192 DETACHD
4667 WINTHROP CT $769,900 4 2.1 2235 DETACHD
1510 FERNWOOD DR $789,900 5 3 3291 DETACHD
4379 SNOWBRUSH CT $875,000 4 2 3596 DETACHD
16805 OLD RIVER DR $875,000 3 2 1728 DETACHD
64 BERWICK RD $949,000 4 3.1 3740 DETACHD
13479 FIELDING RD $1,050,000 4 2.1 3385 DETACHD
4743 UPPER DR $1,165,000 4 2.1 3079 DETACHD
1620 FERNWOOD DR $1,199,900 3 3.1 3371 DETACHD
306 8TH ST $1,199,900 4 4 2893 DETACHD
3166 STONEBRIDGE WAY $1,295,000 4 2.1 3039 DETACHD
3711 WREN ST $1,299,900 3 3.1 3250 DETACHD
13740 FIELDING RD $1,495,000 4 3.1 4471 DETACHD
18296 MEADOWLARK LN $1,698,000 5 3.1 5770 DETACHD
15880 OSWEGO SHORE CT $1,997,000 4 3.1 4084 DETACHD
400 IRON MOUNTAIN BLVD $1,999,999 4 3.1 4258 DETACHD

PENDING SALES (April 2-8, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR 49 $199,000 2 1 932 CONDO 14
202 CERVANTES / Grnd $225,000 2 2 890 CONDO 1
4000 CARMAN DR 60 $225,000 2 2 866 CONDO 2
13 BLOCH TER $415,000 3 2.1 1972 ATTACHD 45
18963 LONGFELLOW AVE $449,750 3 1.1 1239 DETACHD 228
12 DA VINCI ST $490,000 4 3 2959 DETACHD 113
4711 REMBRANDT LN $525,000 3 2.1 2050 DETACHD 113
56 CONDOLEA TER / Grnd $529,000 3 2.1 2958 CONDO 161
5228 COVENTRY CT $565,000 4 2.1 2382 DETACHD 13
16758 GRAEF CIR $569,000 3 1 1295 DETACHD 270
18706 BRYANT RD $599,900 3 2.1 2489 DETACHD 4
5418 WASHINGTON CT $690,000 3 2.1 2074 DETACHD 5
58 AQUINAS ST $699,900 5 3 3721 DETACHD 3
17524 ERIN CT $715,000 4 3 3115 DETACHD 4
1235 ANDREWS RD $775,000 3 2 2506 DETACHD 3
2420 PALISADES CREST DR $929,000 5 2.1 3471 DETACHD 10
13101 AMBER PL $949,900 4 2.1 3817 DETACHD 178
504 8TH ST $1,075,000 4 3 2858 DETACHD 171
860 COUNTRY CMNS $1,170,000 4 3 3906 DETACHD 1
888 FAIRWAY RD $1,250,000 4 2.2 5788 DETACHD 192

SOLD (April 2-8, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
80 OSWEGO SMT / Upper $185,000 $194,000 2 2 1140 CONDO 5
4 TOUCHSTONE 109 $195,000 $198,000 2 2 989 CONDO 3
103 OSWEGO SMTn 103 $199,900 $204,900 2 1.1 1116 CONDO 42
5056 FOOTHILLS DR C $364,900 $332,750 2 2 1252 CONDO 30
1760 OAK ST $459,900 $475,000 5 2 1680 DETACHD 1
14 AQUINAS ST $499,000 $480,000 3 3 2531 DETACHD 153
19050 PILKINGTON RD $529,900 $535,000 3 3 1991 DETACHD 250
120 CONDOLEA DR $599,900 $600,000 3 3 2958 ATTACHD 5
16977 SW CHERRY CREST DR $711,000 $625,000 4 2.1 3002 DETACHD 236
759 TIMBERLINE DR $655,000 $645,000 4 3 2928 DETACHD 154
4729 FIRWOOD RD $699,000 $730,000 4 2.1 2647 DETACHD 4
17110 LOWENBERG TER $775,000 $735,000 4 2.1 2732 DETACHD 145
4101 VIRGINIA WAY $899,900 $864,900 4 2.2 3231 DETACHD 29
116 MIDDLECREST RD $1,075,000 $1,000,000 4 3 2545 DETACHD 34
4591 DOGWOOD DR $1,100,000 $1,051,000 4 3.1 4177 DETACHD 6
3485 UPPER DR $1,121,000 $1,100,000 4 2.1 3332 DETACHD 119
16737 MAPLE CIR $1,299,000 $1,350,000 3 2.1 1633 DETACHD 4
2462 SUMMIT DR $1,575,000 $1,565,000 3 2.1 3598 DETACHD 270

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.

Rivergrove Gratitude

Heritage Park

Technically, this post is not about Lake Oswego. It’s about Rivergrove. Rivergrove is at the Southern edge of Lake Oswego, along the Tualatin River. It has it’s own incorporated government with a mayor and a city council. It is a very small area with a population of just 486 people. The mailing addresses for the homes in Rivergrove are Lake Oswego addresses and the children in Rivergrove attend Lake Oswego schools. So while it may not be Lake Oswego, it is pretty darn close.

There is a wonderful park in Rivergrove called Heritage Park, and in this park is something very special, a tree of gratitude. A small black box is next to the tree with weather-proof tags and sharpie pens for writing what you are thankful for onto the tag. Then you simply hang the tag onto the tree. I just love it!

The Gratitude Tree

Gratitude is known to be a factor in living a happy life. We all have much to be grateful for, even when times are difficult. I think the gratitude tree is wonderful. I hope you will take the time to exercise some gratitude today. You may even find your way to the gratitude tree!
Dianne

Market Activity March 26-April 1, 2018

As you know, Linda and I share the task of writing our Market Activity Report and I do one every other week. I find it very important as it has me reflecting on trends and allows me to really have a reading of the changes in the market. What I noticed this week is twofold. First, condos are hot. They are selling like crazy. This is probably because they tend to be less expensive and the words less expensive are hard to come by these days. Second, the surge in inventory that typically happens as we get into spring hasn’t happened yet. The volume of new listings this past week was nearly identical to what it was two weeks ago. At the same time, pending sales seem to be ticking up. This is a formula for increasing prices. It’s a great time to sell a house in Lake Oswego!

Last week in Lake Oswego we had 15 homes enter the market, 26 moving into pending status, and 17 sold/closed properties.

Following is the breakdown for you according to RMLS:

New on the Market (March 26-April 1, 2018)

Address Type Price BR Baths Sq Ft
52 Oswego Summit Condo $204,900 1 1 705
4391 Upper Dr Detached $549,000 4 2.5 1740
5835 Ridgetop Ct Detached $675,000 4 2.5 2375
58 Aquinas St Detached $699,900 5 33 3721
12777 Sierra Vista Dr Detached $714,000 4 2.5 3144
17606 Woodhurst Pl Detached $789,900 5 3.5 4707
17941 Meadowlark Ln Detached $849,000 4 3.5 3905
2420 Palisades Crest Dr Detached $929,000 5 2.5 3471
15545 Village Park Ct Detached $935,000 4 2.5 2745
5566 Luce Ln Detached $990,000 5 3 3088
13613 Provincial Hill Way Detached $1,075,000 5 3.5 4327
17224 Greentree Ave Detached $1,279,900 4 4 3545
4146 Lakeview Blvd Detached $1,500,000 4 3.5 3279
1655 Leslie Ln Detached $1,725,000 4 3.5 4805
1955 Highlands Loop Detached $1,995,000 4 4.5 4012

Pending Sales (March 26-April 1, 2018)

Address Type Price BR Baths Sq Ft CDOM
32 Oswego Summit Condo $169,900 1 1 752 176
4647 Lakeview Blvd D-1 Condo $179,000 1 1 753 171
199 Oswego Summit Condo $194,000 2 2 1506 41
45 Eagle Crest Dr #510 Condo $246,900 1 1 830 32
4053 Jefferson Pkwy Condo $275,000 2 2.5 1462 37
5061 Foothills Dr A Condo $309,500 2 2 991 140
6 Britten Ct Attached $374,900 2 1.5 1317 46
6243 SW Dawn Ct Detached $429,900 3 1.5 1254 5
5861 Benfield Ct Detached $449,000 4 2 1557 34
1760 Oak St Detached $459,900 5 2 1680 1
17323 Ashley Ct Attached $525,000 4 2.5 2117 137
8 Sherwood Ct Detached $529,900 3 3.5 3212 93
1660 Woodland Terr Detached $538,400 4 3 2728 42
3827 Bass Ln Detached $589,000 4 2.5 2302 25
13758 Regency Ct Detached $615,000 3 2.5 1986 155
2220 Hillside Dr Detached $625,000 3 2.5 2201 3
17915 Ridge Lake Dr Detached $650,000 4 3.5 3304 394
343 3rd St Detached $685,000 3 3.5 2044 5
16731 Alder Circle Detached $699,000 3 2.5 2301 7
5585 Kilchurn Ave Detached $724,900 5 2.5 2929 2
706 2nd St Detached $1,159,900 4 2.5 2737 173
13587 Meadowcreek Ln Detached $1,195,000 4 2.5 3200 178
505 Iron Mountain Blvd Detached $1,245,000 5 4 3015 462
1925 Childs Rd Detached $1,290,000 5 4.5 5207 125
3914 Edens Edge Dr Detached $1,548,000 5 5.5+.5 6635 11
4262 Upper Dr Detached $1,590,000 4 3.5 4096 38

Sold/Closed (March 26-April 1, 2018)

Address Type List Price Sold Price Sq Ft CDOM
58 Galen St Condo $164,000 $159,000 689 18
4 Touchstone #130 Condo $215,000 $200,000 984 19
86 Oswego Summit Condo $225,000 $225,000 1,140 2
200 Burnham Rd #208 Condo $279,000 $227,500 1320 195
16250 Pacific Hwy #60 Condo $249,900 $239,900 1305 34
18440 Sandpiper Circle Detached $350,000 $325,000 1447 28
16538 Carnegie Ave Detached $389,900 $375,000 1182 267
6030 Shakespeare St Detached $429,900 $432,000 1056 337
40 Nova Ct Detached $519,900 $513,000 2308 15
14595 Sherbrook Pl Detached $569,500 $530,000 2028 78
1895 Greentree Rd Detached $580,000 $540,000 2861 139
16 El Greco St Detached $639,000 $639,000 2826 3
3665 Olson Ct Detached $695,000 $660,000 2517 82
4729 Lakeview Blvd Detached $679,000 $665,000 2551 75
16034 Inverurie Rd Detached $839,900 $865,300 3305 18
1130 Oak Terrace Detached $949,000 $922,500 3729 0
14128 Goodall Rd Detached $1,090,000 $1,083,000 2960 2

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.

Happy Easter & Passover

Dianne and I hope that you, your family and loved ones are enjoying time together this holiday weekend.  We wish you joy and success in your adventures, real estate and otherwise, as this spring season unfolds.

Market Activity ~ March 19-25, 2018

Last week 16 New properties entered the market in Lake Oswego, 24 moved to Pending status, and 16 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 19-25, 2018)

Address List Price # Beds # Baths Total SF Prop Type
750 1ST ST E31 $199,900 1 1 986 CONDO
47 EAGLE CREST DR #49 $205,000 2 1 932 CONDO
67 OSWEGO SMT/Upper $225,000 2 2 1212 CONDO
668 MCVEY AVE #74 $285,000 1 1 636 CONDO
9 ORIOLE LN $429,000 3 3 1928 DETACHD
15256 BOONES WAY $490,000 3 2.1 1618 ATTACHD
18440 SW DON LEE WAY $525,000 3 1.1 1223 DETACHD
5228 COVENTRY CT $565,000 4 2.1 2382 DETACHD
6435 Frost ST #10 $649,960 3 2.1 1838 DETACHD
16731 ALDER CIR $699,000 3 2.1 2301 DETACHD
6447 Frost ST #9 $699,960 3 2.1 2227 DETACHD
19330 River Run DR $814,900 4 4 3786 DETACHD
3914 EDENS EDGE DR $1,548,000 5 5.2 6635 DETACHD
210 NORTHSHORE RD $1,575,000 4 3 3148 DETACHD
1053 C AVE $1,595,000 4 3.1 3854 DETACHD
2088 CREST DR $3,988,000 4 5.1 7737 DETACHD

PENDING SALES (March 19-25, 2018)

Address List Price # Beds # Baths Total SF Prop Type CDOM
58 GALEN ST/Upper $154,000 1 1 689 CONDO 18
80 OSWEGO SMT/Upper $185,000 2 2 1140 CONDO 5
200 BURNHAM RD #101 $194,900 1 1 959 CONDO 181
4000 CARMAN DR #70 $237,500 2 2 974 CONDO 4
750 1ST ST C14 $285,000 2 2 1350 CONDO 25
5061 FOOTHILLS DR D $294,900 2 2 991 CONDO 183
750 1ST ST #27 $297,000 2 2 1350 CONDO 4
5059 FOOTHILLS DR G $309,000 2 2 991 CONDO 108
3912 CARMAN DR $389,500 3 2.1 1326 CONDO 22
5325 OAKRIDGE RD $419,900 4 2 1191 DETACHD 16
4324 WOODSIDE CIR $425,000 2 2 1216 ATTACHD 7
1682 FIRCREST DR $539,900 4 2.1 2304 DETACHD 4
1612 HIGHLAND DR $549,900 4 3 2158 DETACHD 2
304 6TH ST $615,000 1 1 941 DETACHD 5
4729 FIRWOOD RD $699,000 4 2.1 2647 DETACHD 4
3106 ROSEMARY LN $729,900 3 2.1 2717 DETACHD 75
17641 BROOKHURST DR $782,500 4 2.1 3386 DETACHD 1
4985 CASCARA LN $790,000 5 2.1 3607 DETACHD 125
18341 HEATHER ANN CT $849,900 4 3.1 2316 DETACHD 3
496 10TH ST $850,000 4 2 2854 DETACHD 15
16002 INVERURIE RD $880,000 3 3 3189 DETACHD 0
1565 PINE ST $950,000 4 2 2830 DETACHD 9
426 7TH ST $960,000 4 2.1 3088 DETACHD 49
4204 CHAD DR $1,050,000 5 3.1 3930 DETACHD 6

SOLD (March 19-25, 2018)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
33 OSWEGO SMT/Lower $184,900 $162,000 1 1 764 CONDO 183
3433 MCNARY PKWYbv#806 $214,900 $219,000 2 2.1 1136 CONDO 203
18179 PILKINGTON RD $399,950 $366,000 3 2 1290 DETACHD 266
466 5TH ST / Ground $389,000 $387,800 2 1.1 1092 CONDO 71
18966 LONGFELLOW AVE $459,950 $435,000 3 2 1330 DETACHD 26
17790 OVERLOOK CIR $590,000 $498,750 3 3 3480 DETACHD 22
17 FALSTAFF ST $599,000 $580,000 4 3 2450 DETACHD 100
1413 OAK ST $600,000 $590,000 3 3 2424 DETACHD 23
1503 PINE ST $639,900 $597,515 5 3 2792 DETACHD 165
683 9th ST $575,000 $605,000 3 2 1396 DETACHD 4
16982 KARA LN $615,000 $620,000 4 2.1 2408 DETACHD 2
17720 OVERLOOK CIR $615,000 $620,000 4 2.1 3400 DETACHD 12
4004 MELISSA DR $709,900 $709,900 4 2.1 2865 DETACHD 8
127 FURNACE STb #127 $799,000 $800,000 2 2.1 1927 CONDO 1
282 GREENWOOD RD $890,000 $875,000 3 2.1 2530 DETACHD 16
4660 WILDWOOD ST $1,289,900 $1,275,000 4 4 3709 DETACHD 36

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.

Condo vs Townhouse, What's the Difference?

A condominium in Lake Oswego

As prices have increased in the last few years, one of the hottest parts of Lake Oswego’s real estate market has become condos and townhouses. The two terms tend to be used somewhat interchangeably, but there is actually a very big difference between the two and I thought I’d take a moment to explain the difference.

In a condo you are buying the interior walls and everything within the air space that is contained by the interior walls. The exterior walls, the space between the exterior and interior walls, and everything outside of the exterior walls is owned by the home owner’s association. This means that if you own a condo and you get a clog in your toilet, you have to pay for the repair if the clog is in the toilet itself, but as the plumbing for the toilet passes by the interior wall and leaves the condo, the plumbing belongs to the HOA and it becomes their responsibility to repair the clog.

I am making a big generalization here. Every HOA has it’s own by-laws and conditions, covenants, and restrictions, and there may be provisions in these documents that has an exception for something like a toilet clog, but in general the example holds true.

So with a condo, you rely on the home owner’s association to take care of everything outside of the living space within the condo. This includes the attic, the crawlspace below, all of the exterior paint, roof, parking lot, landscaping etc.

Most condominiums have what are called “limited common areas”. These are usually decks and small patios that are for the use of the individual unit owner, but are maintained by the HOA and for which the HOA may enter to do maintenance work.

In a townhouse you not only own the interior space, but you also own the dirt below the home, the crawlspace, and usually the attic as well. If you have a small yard or deck, it is yours and you maintain it. The usual practice in townhouses is that the HOA owns the roof and exterior siding and they maintain those.

This may seem like splitting hairs, but it is most significant when it comes to bank financing. Banks and mortgage companies look at townhouses the same way that they look at stand alone homes. They are financed the same way and are eligible for FHA and VA financing just like regular homes that get mortgages.

Condominiums are not financed like regular homes. They are financed as condominiums with very specific guidelines and restrictions. If a property is a condominium it must be in an approved complex to qualify for either FHA or VA financing. For conventional financing there are also restrictions, although not quite as stringent.

The word townhouse by practice has come to reference more of an architectural style. The public tends to think that a townhouse is attached to its neighbors only on the sides and that it does not have an attached neighbor either above or below. This is a fallacy. Just because it has a style known as a “townhouse” does not mean that it is not, in fact, a condo. So how do you know if a property is a townhouse or a condo? It’s in the legal description of the property. If it’s a condo, it will have a legal description that includes the word “condominium”.

It can all be a bit confusing. Further mixing folks up is the word “attached”. This word has been used in the RMLS data base for decades. It needs to fall out of use! It may mean that the property is attached to another property, but it does not tell you if it’s a townhouse or a condo. In time, I do think it will fall out of use, but in the mean time I hope this little explanation has helped you to understand what is a condo and what is a townhouse.

Dianne