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 Nov 10-16, 2014

Last week in Lake Oswego had some interesting data. There were 11 new listings, 22 pending sales, and just 8 closed sales. What I find interesting is the large number of pendings compared to the new listings. It’s obvious that those who are in the mood to buy want to move in before Christmas, and those who want to sell are not is no much of a hurry with the holidays at hand. Also of note is the short market time of the pending sales. This next week or two will be a good time to list a home for sale to take advantage of the pre-holiday rush.

Following is the breakdown for you according to RMLS:

New on the Market (Nov 10-16, 2014)

Address Type Price BR Bths SF
13188 Vermeer Dr Detached $450,000 3 2.5 1854
17190 Robb Pl Detached $450,000 4 3 1896
16201 Lake Forest Blvd Detached $464,900 3 2.5 2780
17380 Canyon Dr Detached $550,000 4 2.5 2526
1045 Bullock St Detached $568,000 3 2.5 2105
1744 Fern Pl Detached $599,000 4 2.5 2110
1607 Pine St Detached $599,960 4 2.5 2943
12511 Shelby Ct Detached $649,900 5 3.5 3675
1785 Palisades Terrace Dr Detached $799,000 5 4.5 5052
15444 Boones Way Attached $850,000 3 2.5 3464
12975 Elk Rock Rd Detached $1,000,000 5 3.5 3878

Pending Sales (Nov 10-16, 2014)

Address Type Price BR Baths SF DOM
4610 Lower Dr Condo $114,900 2 1.5 1260 46
4636 Lower Dr B-1 Condo $128,000 2 1.5 1170 9
86 Kingsgate Rd C203 Condo $139,500 2 2 924 4
3826 Botticelli St Condo $174,900 2 2 1055 56
113 Touchstone Terr Attached $293,000 3 2.5 2104 5
16875 Tracy Ave Detached $299,900 4 2 1825 114
706 5th St Detached $300,000 4 2 1824 16
4724 Firwood Rd Detached $329,000 3 1.5 1240 5
21 Summit Ridge Ct Attached $339,000 2 2.5 1654 16
1437 Oak St Detached $349,000 3 1 1070 4
6101 Harrington Ave Detached $359,000 3 2.5 1400 5
16266 Lake Forest Blvd Detached $369,900 3 2 1860 146
1878 Mapleleaf Rd Detached $395,000 3 1.5 1347 41
5978 Fernbrook Circle Detached $449,900 4 2.5 1612 12
205 Hidalgo St Detached $459,900 3 3.5 3032 131
37 Churchill Downs Detached $470,000 3 2.5 2372 4
12 Scarborough Dr Detached $525,000 4 2.5 2943 139
2671 Glen Eagles Rd Detached $850,000 3 3 4019 179
17547 Cherry Ct Detached $998,850 4 3.5 3737 337
19354 Lorna Ln Detached $1,049,988 5 3.5 4169 403
14084 Goodall Rd Detached $1,195,000 5 5.5 5399 73
3140 Childs Rd Detached $1,695,000 5 5.5 6449 298

Sold/Closed (Nov 10-16, 2014)

Address Type List Price Closed Price Sq Ft CDOM
94 Oswego Summit Condo $123,500 $117,500 1140 2
6928 Montauk Circle Condo $125,000 $125,000 960 21
5959 Dove Ct Detached $379,900 $380,000 1552 6
6158 Frost Ln Detached $464,900 $460,000 2,109 32
16942 Cherry Crest Dr Detached $475,000 $465,000 2363 28
4726 Cambridge Ct Attached $595,000 $581,000 2865 9
14220 Bridge Ct Detached $750,000 $689,000 3419 37
3411 Lake Grove Ave Detached $999,999 $1,000,000 4434 177

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

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) numbers:

The latest real estate numbers in Portland and the Lake Oswego/West Linn areas are in. Things have taken an uptick in October for the Portland area. This was the strongest October for Closed Sales since 2006!

According to the RMLS Market Action Report for the Portland Metro Area  October, 2014:

  • At 2,487, October Closed Sales rose 4.6% over the month prior, September, and were up a full 13.6% from October of 2013’s 2,189 .
  • There were 2,881 New Listings in October which was 7.1% down from September, but rose 13.6% from October 2013.
  • The Average Sale Price in October of $335,600 was down $2,500 from the month prior. The first ten months of 2014 are logging an Average Sale Price of $333,200, which is up 7.4% over the same time period in 2013.
  • October Pending Sales (accepted offers), at 2,480, were down 2.8%  from the month prior.  That said, the Pending sales for October are up a full 16.7% over October 2013.

__________________________________________

In Lake Oswego and West Lin steady activity is Good with Closed Sales down by 10 and/but Pending Sales up by 6. Average Sale Price was up $11,200 from September. (There is a very wide range of prices in Lake Oswego among a relatively smaller number of homes for sale as compared to the larger Portland area, so this is not unusual.)

The combined areas of Lake Oswego and West Linn  for October reported:

    • 475 Active Listings  (Sept was 501)
    • 166 New Listings  (Sept was 177)
    • 136 Pending Sales  (Sept was 130)
    • 130 Closed Sales  (Sept was 140)
    • An Average Sale Price of $547,800.  (Sept was $536,600)
    • Average Time on the Market: 81 Days  (Sept was 100)
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Market Activity ~ Nov 3-9, 2014

Greetings, Property Blotter readers!  Well, we’ve definitely got a chill in the air, and leaves are turning & flying away in the breeze. Buyers are out there looking and buying houses as well!

Here is your Latest Market Data: Last week in Lake Oswego we saw 24 New properties enter the market, 26 move to Pending status, and 10 “Closed”/Sold!

Following is the breakdown for you according to RMLS:

NEW on Mkt (Nov 3-9, 2014)

Address List Price # Beds # Baths Total SF Prop Type
59 GALEN ST $94,900 1 1 550 CONDO
4636 LOWER DR #B-1 $128,000 2 1.1 1170 CONDO
86 KINGSGATE RD #C-203 $139,500 2 2 924 CONDO
47 EAGLE CREST DR #59 $140,000 2 2 1024 CONDO
336 CERVANTES CIR $149,900 2 1.1 1112 CONDO
76 GALEN RD #76 $175,000 2 2 989 CONDO
62 GREENRIDGE CT $260,000 3 2 1596 ATTACHD
113 TOUCHSTONE TER $293,000 3 2.1 2104 ATTACHD
3 CONDOLEA DR $325,000 3 3 2198 CONDO
4724 FIRWOOD RD $329,000 3 1.1 1240 DETACHD
1437 OAK ST $349,000 3 1 1070 DETACHD
17520 REDFERN AVE $350,000 3 2 1776 DETACHD
564 2ND ST $399,000 2 2.1 1394 ATTACHD
4146 LAKEVIEW BLVD $400,000 5 1.1 2056 DETACHD
3402 LAKE GROVE AVE $420,000 3 2 1686 DETACHD
5978 FERNBROOK CIR $449,900 4 2.1 1612 DETACHD
533 2ND ST $465,000 2 2 1274 CONDO
37 CHURCHILL DOWNS $470,000 3 2.1 2372 DETACHD
5189 TUALATA LN $475,000 3 2 2422 DETACHD
834 6TH ST $525,000 2 1 1062 DETACHD
18728 BRYANT RD $576,355 3 2.1 2736 DETACHD
4729 FIRWOOD RD $599,900 3 2.1 2594 DETACHD
17680 WOODHURST PL $1,095,000 5 3.1 5478 DETACHD
179 FURNACE ST $1,698,000 3 3.1 4784 CONDO

PENDING SALES (Nov 3-9, 2014)

Address List Price # Beds # Baths Total SF Prop Type CDOM
87 OSWEGO SMT $79,000 2 1.1 1116 CONDO 125
272 CERVANTES $129,900 3 2 1209 CONDO 234
44 EAGLE CREST DR #11 $134,000 3 2 1085 CONDO 23
246 RIDGEWAY RD #17B $160,000 1 1 753 CONDO 16
16250 PACIFIC HWY #76 $200,000 3 2 1801 CONDO 122
200 BURNHAM RD #105 $229,900 1 1 858 CONDO 42
5057 FOOTHILLS DR #H $267,500 2 2 1252 CONDO 4
1531 BOCA RATAN DR $289,000 3 2 1755 ATTACHD 57
468 5TH ST #13 $310,000 2 1.1 1092 CONDO 221
7 PEACOCK PL $329,900 3 2.1 1400 DETACHD 19
1305 CORNELL ST $349,000 3 2 2692 DETACHD 93
1453 GREENTREE CIR $350,000 3 2 1762 DETACHD 3
16990 LOWER MEADOWS DR $369,900 3 2.1 2000 DETACHD 2
528 2ND ST $439,500 2 2.1 1703 ATTACHD 16
5747 VICTORIA CT $549,000 4 2.1 2432 DETACHD 112
17619 Potters RD $575,000 4 2.1 2665 DETACHD 9
5830 SUNBROOK DR $575,000 4 2.1 2810 DETACHD 26
17821 HILLSIDE WAY $589,000 4 3.1 3442 DETACHD 29
5674 CHARLES CIR $639,000 4 2.1 2679 DETACHD 138
13983 WESTCOTT CT $649,900 4 2.1 2792 DETACHD 7
2341 STONEHURST CT $659,000 4 2.1 3389 DETACHD 2
2612 RIVENDELL RD $775,000 4 3 3168 DETACHD 93
13327 ATWATER LN $895,000 3 2 3004 DETACHD 220
17390 GRANDVIEW CT $915,000 4 4.2 4516 DETACHD 506
63 NANSEN SMT $919,900 4 3.1 3202 DETACHD 65
14122 GOODALL RD $969,000 5 4.1 4530 DETACHD 331

SOLD  (Nov 3-9, 2014)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
5058 FOOTHILLS DR $239,900 $227,000 2 2 1252 CONDO 6
6262 WAYZATA CT $328,950 $352,000 3 1.1 1276 DETACHD 15
4242 COBB WAY $449,800 $388,000 3 2 1589 DETACHD 38
18840 RIVENDELL CT $499,000 $439,000 4 3 3060 DETACHD 72
3718 LAKE GROVE AVE $489,000 $452,000 4 3 2523 DETACHD 115
5440 BAY CREEK DR $545,000 $520,000 3 2.1 2442 DETACHD 74
24 MORNINGVIEW CIR $535,000 $520,000 4 3.1 2817 DETACHD 13
2584 Park RD $559,000 $525,000 4 2 2302 DETACHD 110
2031 LILLI LN $779,995 $770,000 3 3.1 3418 DETACHD 14
19463 LORNA LN $899,500 $899,500 4 3.1 4055 DETACHD 429

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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A little bit about mold

Hello everybody,

Whitney here! I’m posting this a little late, I apologize. It has been the week of catching colds!

Speaking of colds; I hope everybody is getting ready to weather through the winter, whether you are hunkering down and dealing, or going out there and enjoying the many things this season has to offer! During this change we close our windows and turn up the heat while outside it begins to fall ever-so-slightly into frigid chilliness.

This however means that our houses are not going to be as ventilated as they where during the spring and summer months, which can lead to mold.

How do you get mold?

Mold spores are often in the air already, and are supposed to grow outside when given the right circumstances. It is when it comes indoors that it becomes a problem. Mold kind of likes the same living space that we do: not to cold, not to hot, lots of water, and a comfy area that is free of drastic changes in the weather.

Any place that is moderate in temperature, damp, and unventilated runs the risk of accumulating mold. To put it bluntly: Everything in your house is mold food.

So how do you get rid of mold?

Controlling an areas moisture is essential to your artillery of defense against mold. For without ample amounts of water mold cannot grow. To do this you can simply ventilate your bathrooms, kitchen, and area where you keep your washer and dryer. Any place where you have water going in the house needs to be open, aired out, and cleaned frequently.

But how do you do this when it’s freezing cold outside?

Making sure that your bathroom ventilation is working properly is pretty important, as are the vents leading from your washer/dryer to the exterior of your home. In a pinch, if you feel that your home’s ventilation is not up to speed with the rate you feel you are at risk of mold: then you can purchase a dehumidifier from any major appliances store.

Anyway, that is my little tid bit about mold! I do hope your fall season has been vibrant, safe, and fun!

If you are interested in knowing more about mold, types of mold, and preventative steps to eliminating mold in your home; you can follow the link below. It has helped me learn a lot.

Bibliography:

http://perfectioninspectioninc.com/mold/

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Market Activity Oct 27- Nov 2, 2014

Wow! What a great month, and now November has started with a bang! Ten active listings have appeared here in our lovely Lake Oswego, while twenty are now pending, and twenty one have been sold!

Looks like there will be some new families in town enjoying their Thanksgiving in their new homes.

New on Market (Oct 27- Nov 2, 2014)

Address Type Price Bedrooms Bathrooms Sqft
706 5TH ST DETACHED 300,000 4 2 1824
21 SUMMIT RIDGE CT ATTACHED 339,000 2 2.5 1654
17225 CHAPIN WAY DETACHED 395,000 3 2 2257
32 SPINOSA DETACHED 479,000 4 3.5 2542
3870 SOUTHSHORE BLVD DETACHED 495,000 3 2 2616
17619 POTTERS RD DETACHED 575,000 4 2.5 2665
571 2ND ST CONDO 589,500 2 2 1561
13983 WESTCOTT CT DETACHED 649,900 4 2.5 2792
5157 WOODCREST LN DETACHED 649,900 4 2.5 3144
2550 SOUTHSHORE BLVD DETACHED 650,000 4 3.5 3721

Pending Sales (Oct 27- Nov 2, 2014)

Address Type Price Bedroom Bathrooms Sqft DOM
4 TOUCHSTONE DR #99 CONDO 159,000 2 2 984 6
900 CORNELL ST DETACHED 240,000 3 1.5 1300 26
6243 SW DAWN ST DETACHED 314,000 3 1.5 1254 89
92 GREENRIDGE CT #92 ATTACHED 348,000 3 2.5 1980 14
5344 TUALATA CT DETACHED 349,355 3 2 1263 11
4470 CHAPMAN WAY DETACHED 360,000 3 3 2125 174
4631 WILDWOOD ST DETACHED 389,900 3 2 1650 68
1878 MAPELEAF RD DETACHED 395,000 3 1.5 1347 28
13197 THOMA RD DETACHED 399,900 3 1.5 1640 22
2051 GREENTREE RD DETACHED 419,900 3 2.5 1864 98
18431 DEER OAK AVE DETACHED 439,900 4 2.5 2203 68
4726 CAMBRIDGE CT ATTACHED 595,000 3 2.5 2868 9
531 LAUREL ST DETACHED 649,900 4 3.5 2771 190
13639 TWIN CREEK LN DETACHED 675,000 5 2.5 3202 87
4090 WESTBAY DETACHED 749,900 3 2 2078 59
3600 SOUTHSHORE BLVD DETACHED 824,900 3 2.5 2117 83
841 NORTHSHORE RD DETACHED 889,850 3 3 2388 140
5055 LAKEVIEW BLVD DETACHED 890,000 4 3.5 3498 28
2335 OSWEGO GLEN CT DETACHED 899,000 4 4 3932 167
3411 LAKE GROVE AVE DETACHED 999,999 4 3.5 4434 177

Sold/Closed (Oct 27- Nov 2, 2014)

Address Type List Price Close Price Sqft DOM
86 KINGSGATE RD C102 CONDO 131,000 128,000 924 4
45 EAGLE CREST DR #218 CONDO 135,000 128,500 768 142
15938 QUARRY RD B15 CONDO 144,500 146,570 996 45
10 CERVANTES CIR CONDO 149,900 149,900 912 14
1531 BONNIEBRAW DR CONDO 244,900 239,900 1303 74
15930 WALUGA DR DETACHED 200,000 240,000 1040 149
5530 BONITA RD DETACHED 269,900 263,500 1200 32
17299 LAKE HAVED DR DETACHED 275,000 295,000 925 5
5665 WASHINGTON CT DETACHED 447,500 323,500 1928 101
1 EAGLE CREST DR DETACHED 326,000 324,000 1265 18
3225 TEMPEST DR DETACHED 448,000 448,000 2231 106
1110 HALLINAN CIR DETACHED 575,000 450,000 3824 286
1001 BULLOCK ST DETACHED 499,900 455,000 2008 50
17554 BLUE HERON WAY DETACHED 475,000 475,000 2000 0
5023 HAMPTON CT DETACHED 509,900 487,000 2284 151
2425 GLEN HAVEN RD DETACHED 499,900 511,100 2231 3
12402 SHELBY CT DETACHED 599,000 544,000 3120 74
3 WALKING WOODS DR DETACHED 575,000 575,000 3853 86
18910 TERRY AVE DETACHED 638,800 580,000 4290 73
15470 BOONES WAY ATTACHED 897,000 850,000 3515 101
17442 RIDGEVIEW LN DETACHED 1,375,000 1,325,000 5036 198

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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Lender Required Repairs

toolboxA common statement I have heard many times over the years is “the lender will require the repair”. I just don’t think that is the case much of the time. I thought it might be helpful to give you my experience about lenders and repairs.

Most lenders want a house to be livable. It can be old, it can be dirty or worn out, but it has to be livable. That means no dangerous situations like a deck without a railing that is 10 feet off the ground, or holes in sheet rock, or missing flooring. Lenders also want at least 3-5 years of life left in the roof and a clear pest and dry rot report. Both of these are obtained through professional inspections.

But many things that are assumed to be a problem simply are not. This is not a promise that you won’t run into lender issues on these items. It is simply my experience that they have not been a problem. I have sold houses with post and peer foundations, with LP siding, with nearly every window having a broken seal. Seriously, I sold this really modern house that had 30 windows, 26 of which were clouded over with broken seals. And it was sold with a VA loan, usually considered to be the hardest loan for a property to qualify for.

So know that houses do not need to be perfect to get financing. They need to be “livable”. “Livable” condition may not suit a picky buyer, but that is an entirely different standard.

A good plan, if you are thinking of selling, is to invite a Realtor to your home well in advance so that they can give you an opinion of items to address. Ask for both their opinion on lender required repairs and also their opinion on items to enhance the sale and to make the house show well. Linda, Whitney, and I would all be happy to help.
Dianne

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Market Activity Oct 20-26, 2014

The fall market is moving right along with 17 new listings, 12 pending sales, and 20 sold/closed homes last week.

Following is the breakdown for you according to RMLS:

New on Market (Oct 20-26, 2014)

Address Type Price BR Bths SF
4619 Lakeview Blvd D-3 Condo $92,000 1 1 753
43 Crestfield Ct Condo $107,500 2 1 923
3930 Lake Grove Ave 1A Condo $128,500 2 1 952
6 Cervantes Circle Condo $145,000 2 1.5 912
3433 Mcnary Pkwy #303 Condo $150,000 2 2.5 1208
4 Touchstone Dr #99 Condo $159,000 2 2 984
246 Ridgeway Rd 17B Condo $160,000 1 1 753
3986 Carman Dr Condo $209,900 2 2.5 1107
16735 Lake Forest Blvd Detached $299,900 3 2 1192
1743 Aspen Ct Detached $336,900 3 2 1341
528 2nd St Attached $439,500 2 2.5 1703
1710 Glenmorrie Terrace Detached $549,900 4 3 2865
5020 Hampton Ct Detached $598,000 3 2.5 2253
15180 Boones Way Detached $615,000 6 3.5 3905
5488 Southwood Dr Detached $799,000 4 2.5 3280
1168 Andrews Rd #1 Detached $1,295,000-$1,495,000 5 5.5+.5 4700
1168 Andrews Rd #2 Detached $1,295,000-$1,495,000 5 5.5+.5 4700

Pending Sales (Oct 20-26, 2014)

Address Type Price BR Baths SF DOM
44 Eagle Crest Dr #15 Condo $89,900 1 1 798 197
4 Touchstone #76 Condo $124,000 2 2 984 43
4 Touchstone #110 Condo $149,000 2 2 989 85
45 Eagle Crest Dr #409 Condo $155,000 2 2 1214 4
18543 Don Lee Way Detached $250,000 3 1 924 49
5326 W Sunset Dr Detached $259,900 1 1 754 3
4180 Collins Way Detached $280,000 2 1.5 1236 268
16200 Pacific Hwy #35 Condo $295,000 2 2 1208 268
4630 Wildwood St Detached $459,900 3 2 2067 6
886 9th St Detached $465,000 2 1 860 3
17601 Woodhurst Pl Detached $650,000 3 2.5 3179 80
16650 Fir Ln Detached $1,279,000 4 3.5 3860 57

Sold/Closed (Oct 20-26, 2014)

Address Type List Price Closed Price Sq Ft CDOM
44 Eagle Crest Dr #41 Condo $126,900 $111,000 908 421
5713 Kenny St Detached $349,000 $325,000 1384 31
16902 Chapin Way Detached $449,900 $440,000 1993 4
5222 Carman Dr Detached $474,900 $448,000 2,543 173
17688 Cardinal Ct Detached $459,000 $459,000 1970 14
960 9th ST Detached $475,000 $460,000 1509 63
16919 Lakeridge Dr Detached $525,000 $507,000 2710 80
13448 Auburn Ct Attached $525,000 $520,000 2535 4
4821 Dawn Ave Detached $599,000 $600,000 1854 5
2823 Glen Haven Rd Detached $749,900 $699,000 3015 8
5005 Dogwood Dr Detached $779,000 $753,000 4156 71
2175 Crest Dr Detached $799,900 $799,900 2950 20
14128 Goodall Rd Detached $869,000 $825,000 2960 118
814 Lake Shore Rd Detached $899,000.00 $885,000 1972 78
2943 Lakeview Blvd Detached $979,900 $950,000 3794 419
1045 Skyland Dr Detached $1,250,000 $1,255,000 3942 2
1103 Lake Shore Rd Detached $1,320,000 $1,320,000 3747 112
16525 Maple Circle Detached $1,450,000 $1,340,000 3443 287
1880 Crest Dr Detached $1,650,000 $1,375,000 2800 23
1400 Ridgecrest Dr Detached $1,649,500 $1,500,000 3859 15

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

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) numbers:

The latest real estate numbers in Portland and the Lake Oswego/West Linn areas for September are in. Overall numbers are down from August and up from last year

According to the RMLS Market Action Report for the Portland Metro Area  September, 2014:

  • At 2,378, September Closed Sales dropped 8% from the month prior (August), and/but were up a full 10.2% from September of 2013’s 2,158 .
  • There were 3,102 New Listings in September which was 6.1% higher than September 2013, but down 13.4% from the month prior.
  • The Average Sale Price in September of $338,100 was down $1,900 from the month prior. The first nine months of 2014 are logging an Average Sale Price of $333,000, which is up 7.4% over the same time period in 2013.
  • September Pending Sales (accepted offers), at 2,551, were down 5.7%  from the month prior.  That said, the Pending sales for September are up a full 15% over September 2013. ***This was the strongest September for Pending sales since 2006 when there were 2,599!

__________________________________________

In Lake Oswego and West Lin steady activity with all numbers down slightly from August, and/but the Average Sale Price rising by $16,400… and interestingly, Average Time on the Market going from 57 to 100 days (that’s quite a jump!)

The combined areas of Lake Oswego and West Linn  for August reported:

    • 501 Active Listings  (August was 531)
    • 177 New Listings  (August was 185)
    • 130 Pending Sales  (August was 148)
    • 140 Closed Sales  (August was 134)
    • An Average Sale Price of $536,600.  (August was $520,200)
    • Average Time on the Market: 100 Days  (August was 57)
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Market Activity ~ Oct 13-19, 2014

Hello to each of our Property Blotter readers from the big, happy family here at the Blotter! We’re all still amazingly busy, and/but as I said before, Fall is in the air. Peoples’ attention wanders… Halloween, Thanksgiving, and yes… that other big holiday are on everyones’ minds. Yet, Fall and Winter can be fantastic times to buy a home. People with their homes on the market generally really want to sell. If you’re selling, people looking at this time of year really tend to be serious about buying!

Here is your Latest Market Data: Last week in Lake Oswego we saw 16 New properties enter the market, 22 move to Pending status, and 14 “Closed”/Sold! Interestingly, 11 out of those 22 New ones are Condos or Townhomes.

Ok, Linda here signing off/running out the door to help more clients!
Following is the breakdown for you according to RMLS:

NEW on Mkt (Oct 13-19, 2014)

Address List Price # Beds # Baths Total SF Prop Type
169 OSWEGO SMT #169 $109,000 2 2 1330 CONDO
103 OSWEGO SMT $110,000 2 1.1 1116 CONDO
120 OSWEGO SMT $134,900 2 2 1140 CONDO
44 EAGLE CREST DR #11 $139,000 3 2 1085 CONDO
4000 CARMAN DR #55 $149,900 2 2 866 CONDO
45 EAGLE CREST DR #409 $155,000 2 2 1214 CONDO
526 S STATE ST $169,900 2 1 914 CONDO
5063 Foothills DR $199,000 2 2 991 CONDO
1349 BONNIEBRAE DR $239,000 3 1.1 1303 ATTACHD
16250 PACIFIC HWY #75 $245,000 3 2 1626 CONDO
7 PEACOCK PL $329,900 3 2.1 1400 DETACHD
92 GREENRIDGE CT #92 $348,000 3 2.1 1980 ATTACHD
5344 TUALATA CT $349,355 3 2 1263 DETACHD
4972 GALEN ST $525,000 3 3 1942 ATTACHD
4726 CAMBRIDGE CT $595,000 3 2.1 2865 ATTACHD
2484 MARYLSHIRE LN $849,000 4 3.1 4353 DETACHD

PENDING SALES (Oct 13-19, 2014)

Address List Price # Beds # Baths Total SF Prop Type CDOM
87 OSWEGO SMT $79,000 2 1.1 1116 CONDO 104
5060 FOOTHILLS DR $240,000 3 2 1252 CONDO 2
17299 LAKE HAVEN DR $275,000 3 1 925 DETACHD 2
1 PEACOCK PL $309,000 3 2.1 1248 DETACHD 92
200 BURNHAM RD #211 $339,900 3 2 1862 CONDO 85
1812 FERNWOOD DR $369,000 3 1.1 1401 DETACHD 17
1405 CEDAR ST $375,000 4 2 2570 DETACHD 3
20 AQUINAS ST $389,000 4 2.1 1814 DETACHD 33
4208 HARVEY WAY $399,900 4 2 2132 DETACHD 87
6550 CHILDS RD $400,000 2 2 1346 DETACHD 9
3061 DORIS CT $429,900 5 2 2684 DETACHD 68
3225 TEMPEST DR $448,000 3 2.1 2231 DETACHD 106
18840 RIVENDELL CT $449,900 4 3 3060 DETACHD 72
629 5TH ST $469,000 2 1 1122 DETACHD 118
132 MIDDLECREST RD $495,000 4 2 1617 DETACHD 0
4125 WOLF BERRY CT $529,900 4 2.1 2824 DETACHD 1
2 Walking Woods DR $593,950 5 3 4116 DETACHD 91
3075 TOLKIEN LN $649,000 3 2.1 2667 DETACHD 9
17410 UPPER CHERRY LN $739,000 4 3.2 4586 DETACHD 141
754 5TH ST $755,000 3 3 2179 DETACHD 42
19463 LORNA LN $899,500 4 3.1 4055 DETACHD 429
17335 KELOK RD $950,000 4 3.1 2491 DETACHD 89

SOLD  (Oct 13-19, 2014)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #91 $122,500 $119,700 2 2 984 CONDO 23
155 OSWEGO SMT $199,900 $120,460 2 2 1506 CONDO 241
1818 COUNTRY CLUB RD $299,999 $300,000 4 2 2032 DETACHD 3
23 FALSTAFF ST $349,500 $322,500 3 2 1434 DETACHD 58
139 DEL PRADO ST $429,000 $382,500 4 2 2967 DETACHD 116
76 TOUCHSTONE $479,000 $400,000 5 2.1 2856 DETACHD 73
19040 INDIAN SPRINGS CIR $509,900 $505,000 4 3 2900 DETACHD 3
32 DEL PRADO ST $529,900 $512,000 5 3 3696 DETACHD 16
2626 PARK RD $537,500 $537,500 4 3 2475 DETACHD 5
14253 KIMBERLY CIR $700,000 $705,000 4 3.1 3592 DETACHD 0
3894 TAMARACK LN $825,000 $825,000 4 3.1 4035 DETACHD 39
13888 GOODALL RD $1,379,000 $1,265,000 4 3.1 4435 DETACHD 265
1633 LESLIE LN $1,850,000 $1,750,000 5 4.1 5921 DETACHD 88
17301 Canal CIR $1,999,999 $1,850,000 5 4.1 3843 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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Louisiana Pacific Siding (LP Siding)

Hello everybody,
I have had my license for almost two months now, and I have learned quite a bit! Today what I am going to talk about is LP siding.
My first clients (as it turns out are my cousin and her husband) have just recently made an offer on a condo. In the weeks leading up to their decision we saw everything from houses, town houses, and other condos. When they first found a house I remember my mother saying:

”Oh… they have LP siding.”

Now let me explain why my mother was hesitant about LP siding, before I go into the decided verdict:
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Louisiana Pacific (LP) is a company that was founded in 1973 in Tennessee. This company pioneered the production of oriented strand board (OSB) panels. Which was an alternative to the more expensive plywood and solid wood building materials. OSB panels where sold to building manufacturers and homeowners all across the US.
To make OSB panels Louisiana Pacific would harvest small diameter, faster growing timber rather than old growth, and send the cheaper timber through processing to become wood chips. They would then mix the wood chips with glue and set it into a mold to fit the desired diameter for construction. This saved on time and cost, not to mention LP’s OSB panels where easy to install!
In 1985 OSB panels hit the Northwest markets and where the desired material used to construct siding. Many homes where made with LP’s OSB panels as it was inexpensive, quick, and uniform looking. Unfortunately for us up here in the North West, our climate was not factored into the longevity of the panels, made from woodchips and glue, and years later these OSB panels started to disintegrate. One of the major concerns for homeowners and buyers was that the panels would not only sag into clumps of mush along the exterior of their home, but that the mush would rot and host mold and fungus; later requiring a lot more effort to remove then to install the panels themselves initially.
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From 1990 to 2000, LP’s OSB panels where installed into nearly every new construction: as contracting companies where usually outsourced and received their orders to build from out of state, so many companies would use LP siding in an effort to conserve funding. This flourishing action of business can be used to date homes with LP siding within the ranges of the late 1980s all the way through the late 1990s.
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So let’s revisit that moment when my mother and I are standing in the driveway of the first home that we showed to my cousin and her husband: The point where we look over the house and notice the little nit-picky things to ensure that the buyer is well-informed about what it is they are likely to purchase. The home was built in 1998 and very clearly had LP siding. LP siding is easy to spot due to its pattern: there is a token ‘wooden knot’ looking print that is used over, and over again on LP planks to make it look like actual lumber. When we brought this up with my cousin we explained the draw-backs of having LP around the exterior of the house. However, this particular house was very well managed. This home had received a good paint job, which ensured that water did not get past the paint to affect the planks. Keep in mind: paint does age just as the rest of the house would, and in the future would require a thorough, waterproof, exterior paint job or complete exterior replacement. One of our suggestions we made for my cousin was to provide a low offer so that they could get the house at a fair price and spend some money on replacing the LP siding.
All in all, LP is not the greatest external material here in the North West. It does well in climates that are dryer and provide low threat for mold or fungus. Though we do not have nearly as much of a threat in mold as other states do (Texas being the leading state for issues involving mold). The North West still deals with fungus, and above all rain, rain, rain, and more rain!

Thank you for reading along with me. I look forward to sharing more with you in the future!

Loving life in Lake Oswego,
Whitney Gregoire

Bibliography:

http://www.homeadvisor.com/article.show.Top-10-Worst-States-for-Mold.14164.html

http://hometownexteriordesigns.com/lp_siding.php

http://en.wikipedia.org/wiki/Louisiana-Pacific

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