A Guide to Lake Oswego Real Estate and Community
Dianne,  Linda & Whitney

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

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Market Activity, May 11-17 2015

Spring has not only been beautiful but very busy!
During the week of May 11 to May 17 we saw 24 new houses debut on the market, 16 homes went pending, and 20 marvelous houses sold!

Following is the breakdown for you according to RMLS for last week:

New on the Market (May 11-17, 2015)

Address Type Price Bedrooms Bathrooms Sqft
16 CRESTFIELD CT CONDO 95,500 1 1
47 EAGLE CREST DR #24 CONDO 109,000 1 1 672
4626 LOWER DR CONDO 132,000 2 1.5 1260
4 CRESTFIELD CT #4 CONDO 145,000 2 1 923
3814 BOTTICELLI ST ATTACHED 189,900 2 2 1055
4334 BOTTICELLI ST CONDO 239,000 2 2.5 2298
10 CONDOLEA DR ATTACHED 240,000 2 2 1312
21 ORIOLE LN DETACHED 375,000 2 2 1473
5861 BENFIELD CT DETACHED 399,500 4 2 1557
18581 WAXWING WAY DETACHED 479,000 4 2.5 2076
6286 HARRINGTON AVE DETACHED 529,000 3 2 3219
2440 OVERLOOK DR DETACHED 565,000 4 3 3850
3099 ROSEMARY LN DETACHED 599,000 4 4 4486
5355 CARMAN GROVE LN DETACHED 625,000 4 2.5 2302
17455 BROOKHURST DR DETACHED 669,000 4 2.5 2884
12777 SIERRA VISTA DR DETACHED 694,000 4 2.5 3144
14001 WESTCOTT CT DETACHED 719,900 3 2.5 3223
22 HOTAPUR ST DETACHED 829,000 5 3.5 4002
1120 HOODVIEW LN DETACHED 919,900 4 3 3454
5349 WASHINGTON CT DETACHED 1,000,000 4 3.5 3850
15451 VILLAGE DR DETACHED 1,075,000 3 3.5 4154
1979 COUNTRY CLUB RD DETACHED 1,199,000 5 5.5 4115
1578 VIEW LAKE CT DETACHED 1,549,000 4 4.5 4476
149 FURNACE ST CONDO 1,795,000 3 3.5 4784

Pending Sales (May 11-17, 2015)

Address Type Price Bedroom Bathrooms DOM
45 EAGLE CREST DR #214 CONDO 179,000 1 2 12
44 NORTHVIEW CT ATTACHED 385,000 2 3 7
550 2ND ST CONDO 389,500 2 1.5 343
1207 HALLINAN CIR DETACHED 389,900 2 2 3
17390 CARDINAL DR DETACHED 425,000 3 2 2
101 3RD ST CONDO 485,000 3 2 3
2550 GREENTREE RD DETACHED 499,000 4 3 18
4798 AUBURN LN ATTACHED 529,000 3 3.5 5
504 10TH ST DETACHED 700,000 3 2 69
6484 MCDUFF CT DETACHED 749,000 4 4 18
18120 DELENKA LN DETACHED 759,900 4 2.5 14
14053 AMBERWOOD CIR DETACHED 782,500 3 3 5
1267 MAPLE ST DETACHED 879,000 4 2.5 210
4350 LORDS LN DETACHED 1,199,000 5 4 5
14084 GOODALL RD DETACHED 1,395,000 5 5.5 256
16707 GRAEF CIR DETACHED 2,100,000 4 3.5 4

Sold/Closed (May 11-17, 2015)

Address Type List Price Close Price Sqft DOM
66 GALEN ST CONDO 109,500 96,000 689 111
44 EAGLE CREST DR #26 CONDO 136,500 136,500 908 0
16470 BRYANT RD DETACHED 324,900 312,500 2024 140
12804 SW BOONES FERRY RD ATTACHED 316,000 316,000 1174 0
1689 MEADOWS DR DETACHED 394,900 395,000 2182 23
1878 MAPLELEAF RD DETACHED 399,900 397,000 1347 5
44 AQUINAS ST DETACHED 379,900 410,000 1870 24
17763 MARDEE AVE DETACHED 447,000 450,000 2300 10
5364 GREYSTOKE DR DETACHED 458,500 458,500 1807 2
13166 PETERS RD DETACHED 525,000 460,000 2575 0
3 EL GRECO ST DETACHED 439,500 460,000 2370 2
25 PARTRIDGE LN DETACHED 485,000 476,000 3148 14
1901 WOODLAND TER DETACHED 519,000 495,000 2944 1
4925 MULHOLLAND DR ATTACHED 520,000 520,000 2424 2
279 EVERGREEN RD ATTACHED 639,000 632,000 2136 9
4945 PARKHILL ST DETACHED 659,900 659,900 3302 0
15947 WALUGA DR DETACHED 725,000 700,000 3370 18
2671 GLEN EAGLES RD DETACHED 825,000 825,000 4019 5
893 10TH ST DETACHED 979,000 979,000 2719 0
13286 GOODALL RD DETACHED 1,750,000 1,682,500 6819 142

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

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Beautiful running routes in Lake Oswego

I hope you are all enjoying this great weather today, though in the past few days it has been seeming a little bi-polar with sun, then rain, then sun again.
With sunshine and pleasant temperature, I have found that I am more motivated to trail blaze my old running routs, and I have seen many other neighbors express the same motivation. I must say that Lake Oswego is one of the BEST cities I have ever found to be an active power-walker, hiker, or jogger in. My personal favorite route is to follow along Lakeview Blvd, up Summit (if you are looking for a good booty-kicker hill), and then down around Iron Mountain. For the distance I like to choose North Shore, McVey, and then South Shore (though it will be a while before I can enjoy that heck-of-a-trek).
Wherever you wander you will likely see the most beautiful of scenes with our lush greenery, glimpses of our glimmering lake, magnificent houses, and many friendly neighbors (I have never run into a person in LO that hasn’t offered up a friendly wave or a kind hello!)
So wherever your feet take you, I hope you get the chance to work up a healthy sweat in our activity-friendly city.

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Attitude is Everything!

I have been spending the last several weeks getting my 84-year-old Mother ready for a move to a new home. In all of the sorting and cleaning, I came upon a printout of an early propertyblotter post that my Mom had saved. It is one of my very favorite posts. Feeling sentimental, I thought I would share it with you again. Enjoy.

Please remember this was written in January of 2009, early in the Great Recession.

You may have noticed that both Linda and I tend to approach our careers in real estate with a pretty positive attitude. We share a world-view that allows for positive outcomes. I don’t know about Linda, but I do know that I have received criticism for maintaining this perspective while so much that is going on in the world, particularly in the current economy, is just so terrible. Because we are beginning a New Year, and I intend for 2009 to be a great year, I thought this would be a good time to share with you where I learned my positive attitude.

For those of you who know me, you also know that my mom was a Realtor before me. She was my mentor and role model not just in life, but also as a Realtor. And she is the one who taught me to have a positive attitude. She taught it by example. Her story is really quite remarkable.

My mom, Audrey Slater, was 24 years old the summer of 1954. She lived here in Lake Oswego and was the mother of a young child. She was one of 8 people who were residents of Lake Oswego who contracted polio that summer. For such a small town, it was considered to be an epidemic. 3 of those 8 people died. My mom was one of the lucky ones. She wasn’t killed by it. But she was paralyzed from the chest down. At that time there was no vaccine to prevent polio and there was no proven treatment. Fortunately she was well cared for. The nurses and doctors wrapped her in hot, wet, wool blankets and regularly moved her to help prevent muscle atrophy. When she recovered her future was uncertain. She was told she could quite possibly never walk again. She absolutely refused to accept that possibility. She spent the next several years of her life regaining her strength and learning to walk all over again. She went from her bed to a wheel chair and then to crutches and finally to walking on her own. She went on to be the mother of 3 additional children, including me. I clearly remember her overcoming many challenges that being a polio survivor brought, and foremost in my mind I remember her on-going insistence on maintaining a positive attitude.

This was the era of Norman Vincent Peale. The author of “The Power of Positive Thinking”, he spread a message of hope and good living through books, letters, and his work with people.

My mom took it to heart. She used it to overcome so much. Today, after raising a family and being a very successful Realtor here in Lake Oswego for 28 years, she is such a fine example of a life well lived and a life that has been lived to its fullest, despite tremendous challenge.

Are these times hard? Sure they are. Do they amount to the sum of our human existence? Absolutely not. This is a moment in time: a moment in history. And, frankly, there is much to be hopeful and optimistic about. It is our challenge to choose how we approach the day. Are we going to make it a good day? Or are we going to surrender to negativity and allow it to become a bad day? Will we allow news reports to keep us from moving on with our lives? Will we allow fear to keep us from noticing all the good things about this point in time relating to real estate…like record-low interest rates and prices? I would argue that a positive mindset allows for more rational decision making when coupled with an assessment of the variables.

This does not mean that I am unwilling to be realistic about facts and the current economy. It does mean that I will approach the current market and find a way to make it work to my clients’ benefit, whenever possible. It also means that even when the situation is tough, I will pledge to handle it with grace and good humor.

Finally, I have a video I want to encourage you to watch. Think of it as a little New Year’s gift. This is a video of a man who has overcome adversity so far above and beyond anything that most can imagine. To view it, click here.

I would like to wish you a positive and prosperous New Year.

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Market Activity May 4-10, 2015

Another great week in real estate has come to pass. Last week Lake Oswego had 20 new listings, 29 pending sales, and 11 closed sales.

Following is the breakdown for you according to RMLS for last week:

New on the Market (May 4-10, 2015)

Address Type Price BR Bths SF
47 Eagle Crest DR #43 Condo $124,900 2 1 932
19 Crestfield Ct Condo $157,900 2 1 923
5849 Fernbrook Circle Detached $275,000 3 1.5 1239
16173 Lake Forest Blvd Detached $335,000 3 1 1334
208 Greenridge Dr Attached $337,500 3 2 1392
5276 W Sunset Dr Detached $349,000 2 1 840
44 Northview Ct Attached $385,000 2 3 2340
17902 Meadowlark Ln Detached $519,900 3 2.5 1950
17820 Westview Dr Detached $524,900 3 2.5 2407
1500 Woodland Terr Detached $559,000 4 2.5 2798
1982 Park Forest Ave Detached $585,000 4 3 2765
17336 Hunter Ct Detached $609,900 3 2.5 3023
18295 Westview Dr Detached $624,950 4 3 3580
55 Northshore Rd #11 Condo $749,000 2 1.5 1910
14053 Pilkington Rd Detached $795,000 4 3 2946
18493 Ray Ridge Dr Detached $1,125,000 4 3.5+.5+.5 4401
4350 Lords Ln Detached $1,199,000 5 4 3888
2464 Palisades Crest Dr Detached $1,199,000 4 2.5 3897
583 2nd St Condo $1,250,000 2 2.5 2304
14053 Amberwood Circle Detached $782,500 3 3 3126

Pending Sales (May 4-10, 2015)

Address Type Price BR Baths SF DOM
104 Oswego Summit Condo $99,000 1 1 764 4
44 Eagle Crest Dr #26 Condo $136,500 2 1 908 0
4000 Carmen Dr G101 Condo $149,900 2 2 869 12
3892 Botticelli St Condo $225,000 3 2 1288 32
1316 Cedar St Detached $230,000 1 1 1594 0
48 Eagle Crest Dr 3D Condo $248,000 2 2 1434 20
16200 Pacific Hwy #21 Condo $269,000 2 2 1190 113
668 McVey Ave #76 Condo $274,900 2 1 836 14
5860 Lakeview Blvd Detached $289,900 2 1.5 1435 14
4324 Woodside Circle Attached $309,900 2 2 1216 3
13985 Sundeleaf Dr Detached $359,990 3 2 1278 23
18651 Don Lee Way Detached $399,000 4 2 1630 21
14710 Davis Ln Attached $399,999 2 2.5 1680 3
16953 Greentree Ave Detached $420,000 4 3 1941 4
4596 Lamont Way Detached $424,900 4 2 2236 7
18481 Waxwing Circle Detached $453,000 3 2.5 1840 52
16915 Crestview Dr Detached $459,000 4 2.5 2180 8
5221 Rosewood St Detached $469,000 3 2.5 2226 18
6276 Frost Ln Detached $489,900 4 3.5 2304 17
4725 Firwood Rd Detached $569,900 4 2.5 2557 6
17833 Hillside Way Detached $575,000 4 3 2668 32
2464 Marylhaven Pl Detached $610,000 4 2.5 2898 4
17244 Fernwood Dr Detached $649,900 4 2.5 2617 7
17065 Tualatin St Detached $739,000 3 2.5 2733 9
5955 Sunbrook Dr Detached $759,000 4 3 3110 5
15195 Lily Bay Ct Detached $898,000 4 2.5 4099 66
3301 Upper Dr Detached $1,295,000 4 3.5 4555 29
2322 Knaus Rd Detached $1,595,000 4 3.5+.5 4875 19
1495 Oak Terrace Detached $1,995,950 4 4 3983 542

Sold/Closed (May 3-10, 2015)

Address Type List Price Closed Price Sq Ft CDOM
15938 Quarry Rd A5 Condo $164,900 $159,000 996 7
668 McVey Ave #33 Condo $284,900 $270,000 852 58
3 Condolea Dr Condo $325,000 $296,500 2198 146
13901 Sundeleaf Dr Detached $399,000 $378,000 1,900 60
629 5th St Detached $529,000 $425,000 1122 266
1981 Summit Dr Detached $647,500 $490,000 2579 630
18640 Tualata Ave Detached $463,500 $525,000 2076 4
238 5th St Detached $725,000 $635,000 2134 69
17656 Woodhurst Pl Detached $825,000 $760,000 4597 51
13554 Peters Rd Detached $899,850 $885,000 3036 36
3131 Westview Ct Detached $1,150,000 $1,120,000 4688 4

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

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Searching

Hello Property Blotter Readers!

Ok, I have a short post for you today as I’m running around helping clients along with Dianne and Whitney. Hopefully this will be helpful to some, though.

I constantly encounter clients who are searching in all kinds of places for properties online. I’m often amazed at getting lists of addresses people are interested in, only to find out that they’re all either Pending or Sold. ***The reason for this is that these sites (I won’t name them, but they are very popular and do a lot of advertising on television etc : ) basically suck their data out of the main database that Realtors use as their source of information; The MLS. Once they have that data, what their database does with it is anyone’s guess.

The minute a property goes on the market, its entered into and becomes viewable on the MLS. When it is Pending that’s entered and immediately viewable on the MLS.  When properties enter the market or change status to Pending, Sold, etc., these other sites have a lag time for updating their information, and they’re all different. Some hang onto properties a LONG time after they become unavailable.  So…. I highly recommend searching the MLS directly.  In addition to that, there are Good resources that offer various types of searching and stay pretty up to date.  Here are a few I recommend:

RMLS:     CLICK HERE

My Own Website’s Detailed Searching Database: CLICK HERE  ***My website allows you to set up automatic emails direct to you whenever a property meeting your needs comes on the market.

Our Oregon First Search Tool (click the Search Property Search Tab):  CLICK HERE

There are other sites I could discuss with you if you are interested.

Hope this is helpful.  Wherever you find your properties-of-interest, feel free to call or email me (or Dianne or Whitney) with your questions, and we’ll pick up the ball and be your champions!  We also specialize in assisting our clients by finding properties FOR them using our skill and experience to wade through the hundreds of options, finding the ones that best meet your needs.

Enjoy this amazing weekend in Oregon!

Very Best,

Linda

 

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Market Activity ~ Apr 20-Apr 26, 2015

Oh gosh this is coming out so late, I greatly apologize for missing this week. But to make it up to you all I will post it now so that we can get a move on!

During the week of April 20 through the 26th we saw 14 new listings, 23 listings went pending, and 16 sold! What an exciting week! I am so sorry I missed it!

Following is the breakdown for you according to RMLS for last week:

NEW on Mkt (Apr 20- Apr 26, 2015)

Address Type Price Bedrooms Bathrooms Sqft
750 1ST ST #32 CONDO 165,500 1 1 986
200 BURNHAM RD #300 CONDO 189,900 1 1 973
5860 LAKEVIEW BLVD DETACHED 289,900 2 1.5 1435
7 HIDALGO ST DETACHED 449,900 3 2.5 2408
5221 ROSEWOOD ST DETACHED 469,000 3 2.5 2226
6155 FROST LN DETACHED 488,900 4 2.5 2364
27 DA VINCI ST DETACHED 497,500 4 3 2820
2550 GREENTREE RD DETACHED 499,000 4 3 2852
147 DEL PRADO ST DETACHED 549,000 3 3 2790
8 HIDALGO ST DETACHED 599,900 4 3.5 3123
14036 MAJESTIC CT DETACHED 779,000 6 3.5 4995
18522 ANDUIN TER DETACHED 998,750 5 4.5 5196
16645 GRAEF CIR DETACHED 1,549,000 4 4.5 3075
642 IRON MOUNTAIN BLVD DETACHED 1,695,000 3 2.5 4575

PENDING SALES (Apr 20- Apr 26, 2015)

Address Type Price Bedroom Bathrooms DOM
15 OSWEGO SMT #15 CONDO 106,000 2 2 373
44 CERVANTES CIR #44 CONDO 132,500 2 1.5 21
44 EAGLE CREST DR #39 CONDO 139,900 2 2 11
16250 PACIFIC HWY #67 CONDO 144,900 1 1 45
566 S STATE ST CONDO 159,000 1 1 4
4 TOUCHSTONE #78 CONDO 164,900 3 2.5 151
115 TOUCHSTONE TER ATTACHED 329,900 4 2.5 24
13985 SUNDELEAF DR DETACHED 359,990 3 2 8
5364 ROSEWOOD ST DETACHED 436,000 4 2.5 28
6310 ALYSSA TER DETACHED 439,950 4 2.5 80
13431 VERMEER DER DETACHED 499,000 3 2.5 9
5020 HAMPTON CT DETACHED 588,000 3 2.5 182
3009 WEMBLEY PARK RD DETACHED 598,900 4 2.5 122
4263 SUNSET DR DETACHED 625,000 3 2.5 3
5157 WOODHURST PL DETACHED 649,900 4 2.5 33
17583 SHEPHERDS CT DETACHED 774,900 4 3 47
17656 WOODHURST PL DETACHED 799,000 4 2.5 51
3180 WESTVIEW CT DETACHED 875,000 5 3.5 14
1821 OAK ST DETACHED 899,000 4 3.5 12
717 5TH ST DETACHED 995,000 4 2.5 0
701 4TH ST DETACHED 1,030,000 3 2.5 3
17335 KELOK RD DETACHED 1,039,000 4 3.5 48
14536 PFEIFER DR DETACHED 1,200,000 3 3.5 131

SOLD  (Apr 20- Apr 26, 2015)

Address Type List Price Close Price Sqft DOM
3433 MCNARY PKWY #208 CONDO 150,000 138,000 1008 8
4000 CARMAN DR A17 CONDO 169,900 171,200 1100 19
115472 BRIANNE CT ATTACHED 269,000 268,000 1208 2
18660 DON LEE WAY DETACHED 284,900 270,000 946 206
4670 LOWER DR DETACHED 414,900 374,900 1587 154
4909 LOWER DR DETACHED 425,000 413,500 1992 72
578 2ND ST #6 CONDO 425,000 415,000 1394 62
1990 GREENTREE RD DETACHED 479,900 457,200 2100 11
17680 BLUE HERON WAY DETACHED 649,900 525,000 2363 174
11 JUAREZ ST DETACHED 550,000 525,000 2600 5
13906 MAJESTIC CT DETACHED 530,000 540,000 2827 6
13819 PROVINCIAL HILL DR DETACHED 599,900 550,000 2096 24
4070 VIRGINIA WAY DETACHED 747,500 730,000 3510 44
18253 SIENA DR DETACHED 1,198,000 1,160,000 4310 25
18218 MEADOWLARK LN DETACHED 1,695,000 1,450,000 8320 787
1867 HIGHLAND LOOP DETACHED 1,998,000 1,900,000 5185 57

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

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Market Activity ~ Apr 27-May 3, 2015

All the numbers (and our collective subjective experience as Realtors) stack up to a continuing robust market:

Last week in Lake Oswego we saw 29 New properties enter the market, 19 move to Pending status, and 27 “Closed”/Sold.

Following is the breakdown for you according to RMLS for last week:

NEW on Mkt (Apr 27-May 3, 2015)

Address List Price # Beds # Baths Total SF Prop Type
104 OSWEGO SMT #104 $99,000 1 1 764 CONDO
47 EAGLE CREST DR #14 $100,000 1 1 666 CONDO
45 EAGLE CREST DR #214 $179,000 1 2 1046 CONDO
4459 THUNDER VISTA LN #Grnd $255,000 2 2.1 1925 CONDO
16953 GREENTREE AVE $420,000 4 3 1941 DETACHD
4596 LAMONT WAY $424,900 4 2 2236 DETACHD
304 6TH ST $450,000 1 1 941 DETACHD
16915 CRESTVIEW DR $469,000 4 2.1 2180 DETACHD
28 AQUINAS ST $499,000 3 2 2000 DETACHD
2464 MARYLHAVEN PL $610,000 4 2.1 2898 DETACHD
19664 RIVER RUN DR $614,900 4 2.1 3051 DETACHD
17244 FERNWOOD DR $649,900 4 2.1 2617 DETACHD
3100 WEMBLEY PARK RD $700,000 3 3 3060 DETACHD
14001 WESTCOTT CT $724,900 4 2.1 3223 DETACHD
139 DEL PRADO ST $725,000 3 2 2895 DETACHD
13456 PROVINCIAL HILL WAY $729,000 3 2.1 2771 DETACHD
17065 TUALATIN ST $739,000 3 2.1 2733 DETACHD
6484 MCDUFF CT $749,000 4 4 3120 DETACHD
5955 SUNBROOK DR $759,000 4 3 3110 DETACHD
5650 BAY CREEK DR $859,900 4 2.1 3668 DETACHD
18360 DELENKA LN $859,900 5 3.1 4828 DETACHD
1055 COUNTRY CLUB RD $879,000 3 2 2908 DETACHD
18262 BRYANT RD $949,900 4 3.1 3428 DETACHD
19229 35TH PL $959,900 5 3.1 4764 DETACHD
910 FAIRWAY RD $1,069,000 4 3.1 3384 DETACHD
17518 RIDGEVIEW LN $1,282,000 4 3.1 4051 DETACHD
983 LAKE FRONT RD $1,595,000 3 2.1 2199 DETACHD
2950 WEMBLEY PARK RD $1,950,000 4 5.1 6329 DETACHD
1125 MAPLE ST $2,395,000 4 3.1 5481 DETACHD

PENDING SALES (Apr 27-May 3, 2015)

Address List Price # Beds # Baths Total SF Prop Type CDOM
54 GALEN ST #Upper $123,900 2 2 995 CONDO 42
45 EAGLE CREST DR #219 $189,900 3 2 1537 CONDO 14
668 MCVEY AVE #33 $284,900 2 1 852 CONDO 58
6288 SEVILLE AVE $295,000 3 2 1470 DETACHD 3
15434 STEPHANIE CT #Grnd $315,000 3 2.1 1566 ATTACHD 2
2031 BONNIEBRAE DR $319,900 4 2 1611 ATTACHD 6
7 CONDOLEA DR #Grnd $380,000 3 3 2388 CONDO 23
1428 GREENTREE CIR $399,950 4 2.1 2236 DETACHD 62
3919 SOUTHSHORE BLVD $424,900 3 4 2398 DETACHD 3
2705 ORCHARD HILL LN $489,000 4 2.1 2841 DETACHD 7
1297 HIDE A WAY LN $525,000 3 2.1 1832 DETACHD 6
4979 GALEN ST $555,000 4 2.1 3298 DETACHD 12
16920 GREENTREE AVE $625,000 4 2.1 2830 DETACHD 2
221 6TH ST $625,000 3 2 1508 DETACHD 14
6 CELLINI CT $705,000 5 3 3494 DETACHD 19
1854 OAK KNOLL CT $1,025,000 3 3 3530 DETACHD 237
1850 ATHERTON DR $1,179,000 3 2.1 4825 DETACHD 581
17620 BLUE HERON RD $1,198,000 4 3.1 4041 DETACHD 67
1017 LAKE FRONT RD $2,595,000 5 4.2 4070 DETACHD 206

SOLD  (Apr 27-May 3, 2015)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #52 $89,000 $84,000 1 1 666 CONDO 17
48 EAGLE CREST DR #1C $169,950 $97,500 2 2 1370 CONDO 231
320 CERVANTES CIR $129,900 $120,000 2 1 832 CONDO 44
4 TOUCHSTONE #158 $140,000 $142,000 2 2 984 CONDO 5
4 TOUCHSTONE #89 $160,000 $155,000 3 2.1 1351 CONDO 72
16250 PACIFIC HWY #45 $194,900 $175,000 2 2 1311 CONDO 71
200 BURNHAM RD #402 $199,500 $190,000 2 2 1305 CONDO 261
3144 DIANE DR $224,900 $280,000 3 1.1 1632 DETACHD 31
16472 BONAIRE AVE $289,900 $350,000 3 2 1464 DETACHD 3
5530 BONITA RD $398,000 $389,900 3 2 1200 DETACHD 34
17280 WESTVIEW DR $429,000 $416,000 4 3 2324 DETACHD 6
4711 REMBRANDT LN $450,000 $452,000 3 2.1 2050 DETACHD 3
32 SPINOSA $479,000 $455,900 4 3.1 2542 DETACHD 1964
6459 FROST ST $499,900 $488,500 4 2.1 2627 DETACHD 101
17380 CANYON DR $514,950 $493,000 4 2.1 2526 DETACHD 145
18582 BRYANT RD $499,995 $504,500 3 2.1 2400 DETACHD 7
1585 PATTON RD $539,900 $515,000 4 3 3162 DETACHD 314
18634 Bryant RD $551,995 $534,995 3 2.1 2736 DETACHD
1008 SPRUCE ST $535,000 $535,000 3 2.1 1765 DETACHD 6
1380 BONNIEBRAE DR $730,000 $675,000 5 3 2940 DETACHD 109
2286 WEMBLEY PARK RD $699,000 $699,000 3 3 2000 DETACHD 43
15203 LILY BAY CT $779,000 $765,000 4 2.1 3219 DETACHD 34
5032 DENTON DR $799,900 $800,000 3 2.1 3205 DETACHD 0
17900 GREENBLUFF DR $949,000 $900,000 4 3.1 4210 DETACHD 300
18042 SKYLAND CIR $1,150,000 $1,080,000 5 3 4800 DETACHD 212
16655 MAPLE CIR $1,269,000 $1,189,000 3 2 2030 DETACHD 12
1059 BAYBERRY RD $1,399,950 $1,375,000 4 3.1 3550 DETACHD 89

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

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Economic Recovery

The great recession of 2007-2013 is now well in the past with just a few lingering elements. I thought it would be helpful to share some insight on how this may affect your decision to buy or to sell a home.

Is it time to become a homeowner, again?

I am now seeing folks who lost their home to foreclosure, shortsale, or perhaps went through a bankruptcy getting back into home ownership. This chart was given to me by Ginny Schider, a wonderful loan officer at Pacific Residential Mortgage (503-319-3646). It shows the wait time necessary before you can be eligible for a new mortgage if you have experienced one of these events:

Loan Program Chapter 7 Bankruptcy Chapter 13 Bankruptcy Shortsales Foreclosure
or Deed-in-liew
Fannie Mae
Insured Loans 4 years from discharge 2 years from discharge 4 years 7 years
4 years from dismissal
Feddie Mac 5 years 5 years 4 years 7 years
Insured Loans
FHA 2 years from discharge 12 months acceptable 3 years 3 years
payment history
USDA 3 years 3 years 3 years 3 years
VA 2 years from discharge 2 years from discharge 2 years 2 years

I have worked with folks in this situation and I’ve got to say it one of the most rewarding experiences I’ve ever had as a Realtor. Seeing folks who have been through hard times getting back on their feet and moving forward with the ability to rebuild their lives.

Still a few lingering foreclosures and shortsales
It’s referred to as the shadow inventory. These are distressed properties that banks have been holding onto. They simply did not want to release too many foreclosures all at the same time. Foreclosures and shortsales tend to sell for less. So if too many happen all at once, they tend to cause declining home values. Banks addressed this by not putting them on the market. Some are vacant homes that are just sitting in neighborhoods because the house has already been foreclosed upon. Others are home owners who know their house is in foreclosure, but the bank has not finalized it. I am aware of people who have been living in homes, not making mortgage payments, but not being kicked out, for years. I believe banks choose to allow this to happen because if the person in default is still in the house, then the house is being heated and watched over. It is simply safer for the property.

I don’t know how long it will take for these hold out foreclosures to be sold, but they are continuing to trickle onto the market.

Shortsales have become much less common. This is because as values have come back, many home owners are now no longer under water with a mortgage that is greater than their home value. This is not to say that they are not still happening. It is simply less frequent.

So, while the recession is technically over, effects from it are still happening. And if you are someone who went through a bankruptcy, foreclosure, or shortsale, the good news is you may be approaching the time when you can become a home owner again. Don’t hesitate to give Whitney, Linda, or myself a call if you need a good Realtor!

Dianne

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Market Activity April 13-19, 2015

We are continuing to see more houses selling than houses coming on the market. This means inventory is tight and it is more of a seller’s market. The majority of houses are selling quite quickly, but there are still a few that have had extended market time. This reflects how important it is to get the pricing right when you list your house for sale. Priced right it will sell fast!

Last week in Lake Oswego we had 19 houses come onto the market, 26 move to pending status, and 24 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (Apr 13-19, 2015)

Address Type Price BR Bths SF
48 Eagle Crest Dr 3D Condo $248,000 2 2 1434
13985 Sundeleaf Dr Detached $359,990 3 2 1278
18651 Don Lee Way Detached $399,000 4 2 1630
17270 Bryant Rd Detached $399,000 3 3 2619
13431 Vermeer Dr Detached $499,000 3 2.5 2700
13951 Shireva Ct Detached $499,900 4 3 2185
5695 Washington Ct Detached $515,000 4 2 1769
5600 Dogwood Dr Detached $525,000 3 2 1908
5554 Royal Oaks Dr Detached $539,000 3 2 1861
4979 Galen St Detached $579,900 4 2.5 3298
221 6th St Detached $625,000 3 2 1508
2699 Tolkien Ln Detached $670,000 4 2.5 3115
13010 Sierra Vista Dr Detached $774,900 5 3.5 3450
4055 Orchard Dr Detached $795,000 5 3.5 3354
16987 Alder Circle Detached $839,000 3 2.5 1987
1821 Oak St Detached $899,000 4 3.5 5510
17353 Ridgeview Ct Detached $1,285,000 4 3.5 4032
14 Dover Way Detached $1,485,000 5 3.5 4593
2322 Knaus Rd Detached $1,595,000 4 3.5+.5 4875

Pending Sales (Apr 13-19, 2015)

Address Type Price BR Baths SF DOM
48 Eagle Crest Dr 1C Condo $99,900 2 2 1370 231
16250 Pacific Hwy #82 Condo $150,000 1 1 841 17
4 Touchstone #89 Condo $155,000 3 2.5 1351 72
1400 Bonniebrae Dr Attached $185,000 2 1 864 4
45 Eagle Crest Dr #219 Condo $189,000 3 2 1537 5
4107 Jefferson Pkwy Condo $237,500 2 2.5 1367 7
4283 Woodside Circle Attached $359,900 4 2 2032 10
1878 Mapleleaf Rd Detached $399,900 3 1.5 1347 5
5866 Ridgetop Ct Detached $407,500 3 2 1866 2
5210 Coventry Ct Detached $510,000 3 2.5 2135 2
1901 Woodland Terr Detached $519,000 4 3 2944 1
1119 Oak St Detached $529,900 4 2.5 2123 99
5326 Childs Rd Detached $549,901 3 2.5 1801 57
17650 Westview Dr Detached $565,000 4 3 2849 101
238 5th St Detached $657,000 3 2 2134 69
15 Nansen Summit Detached $685,000 3 2.5 3098 17
4125 Hedge Nettle Ct Detached $715,000 4 2.5 2890 6
4123 Chad Dr Detached $795,000 4 3.5 3833 186
18977 Barton Rd Detached $875,000 4 3.5+.5 5076 30
49 Briarwood Rd Detached $950,000 3 2 2162 138
13017 Knaus Rd Detached $1,249,000 4 3.5 46990 329
1059 Bayberry Rd Detached $1,399,950 4 3.5 3550 89
2410 Summit Ct Detached $1,595,000 3 3.5 3750 0
2493 Southshore Blvd Detached $2,895,000 5 5.5 7112 458
1780 Ridgecrest Dr Detached $3,750,000 4 5.5 6000 35

Sold/Closed (Apr 13-19, 2015)

Address Type List Price Closed Price Sq Ft CDOM
44 Eagle Crest Dr #1 Condo $134,900 $134,900 908 3
48 Eagle Crest Dr Condo $184,900 $152,500 1623 65
5225 Jean Rd Condo $170,000 $165,000 1100 10
900 Cornell St Detached $314,000 $295,000 1,300 24
668 McVey Ave #72 Condo $325,000 $325,000 1184 2
44 Oriole Ln Detached $389,000 $393,000 2156 6
134 Kingsgate Rd Detached $399,000 $397,100 1794 5
732 Clara Ct Detached $499,900 $402,500 2935 713
14201 Dolph Ct Detached $449,000 $432,500 1864 53
13855 Verte Ct Detached $449,000 $450,000 1835 12
1725 Fernwood Dr Detached $479,000 $460,000 1580 13
18768 Wood Duck St Detached $599,900 $477,500 2940 346
13721 Regency Ct Detached $509,500 $492,500 2311 102
18706 Bryant Rd Detached $519,995 $499,995 2400 23
6 Northview Ct Attached $532,500 $522,000 3200 14
1015 Southshore Blvd Detached $629,000 $603,500 3882 43
5665 Grand Oaks Dr Detached $780,000 $720,000 4226 1
1785 Palisades Terrace Dr Detached $799,000 $735,275 5052 227
2109 Wembley Park Rd Detached $795,000 $795,000 3154 73
2726 Rivendell Rd Detached $849,000 $849,000 3315 2
816 4th St Detached $949,900 $949,900 2699 9
703 5th St Detached $979,000 $979,000 2,719 4
17335 Canal Circle Detached $1,050,000 $1,050,000 2092 0
17138 Cedar Rd Detached $1,569,000 $1,410,000 3017 89

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

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News & Notes

 

l-lake-oswego-mansion

 

 

The most recent real estate numbers for Portland and the Lake Oswego/West Linn areas (RMLS lumps them together) are available.

According to the RMLS Market Action Report for the Portland Metro Area, March, 2015:

  • There were 3,596 New Listings in March which was up a full 24.7% from last month/February! and up 16.4% from March of 2014.
  • At 2,457 March Closed Sales increased a whopping 49.1% over February! and were up  32.3% from March of 2014.
  • March Pending Sales (accepted offers), at 3,384, was the strongest since 2006. Up… 33.5%  from February AND March of 2014.
  •  The Average Sale Price in March of $337,200 was up $9,200. from February’s Average of $328,000, and almost exactly the same from March of 2014’s $328,100. 

The combined areas of Lake Oswego and West Linn  for the month of March 2015 reported:

    • 373 Active Listings  (360 in Feb)
    • 209 New Listings    (198 in Feb)
    • 174 Pending Sales    (149 in Feb)
    • 130 Closed Sales   (86 in Feb)
    • Average Sale Price for March of $475,900.  ($518,300 in Feb)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can scew 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.
    • Average Time on the Market: 104 Days  (100 in Feb)
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