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

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

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Let's Talk Permits

LakePermits are a subject that comes up fairly often in my business. Buyers want to know if work on a house was permitted, and sellers want to know if they need to take out a permit. I am not an expert on the permitting process, when they are and are not needed, nor the exact specifics of permits, but I can tell you what I have seen and learned in 28 years of doing this.

Question #1, was the work permitted? Public records are pretty easy to research, both on line and with a personal visit to the local planning department. When you are buying a home and you have this sort of a question, do some research and find out. The owner of the home may have knowledge and they are specifically asked this question on the property disclosure statement. So the seller may know. But it’s also possible that work done pre-dates this owner’s knowledge of the home. So if they have no clue, you should still do your own research.

Should you buy a house where work was not permitted? That depends. How extensive was the work? Were structural changes made or was the electric or plumbing involved? If these were a part of the remodel then you should care if it was permitted. A good home inspector can tell you their opinion of how the work was done. It is also possible that a bank appraiser could find the house suspicious and ask for evidence of permitting, but that is not likely unless it is a total nightmare. What it will more likely come down to is do you accept the fact that work was not permitted and do you still want the property enough to buy it anyway.

I would caution you that it could have an impact on a home owner insurance claim. If the defective remodeling is the source of a house fire, I think it could be possible that it could become a claim issue.

Question #2, do you need to get a permit? I think it varies from jurisdiction to jurisdiction. So what Lake Oswego requires may not be the same as what West Linn requires. I go back to what I stated above. If it is structural, or involves plumbing or electricals, yes, you probably need a permit. I also think it is better to error on the side of caution. I am aware of a very nice home near Lake Oswego High School that had a beautiful bedroom suite addition put onto the house and none of it was permitted. That seller had so much trouble with sales falling through because of this that they took the house off of the market and went back to obtain permits before putting the house back on the market again with the problem solved. So permitting will, in my opinion, make selling your home easier and likely for a higher price.

Now I’m going to share two specific examples of permitting that should have been done and was not.

I sold a house years ago that had a shed built onto the back of the garage. It had a concrete foundation and a composition roof, but no plumbing and no electric. The home owner had built it without permits. We simply disclosed the lack of permits and the house sold easily with no impact on the price. But this was a really low-impact addition that pretty much was for housing a lawn mower. Just not a big deal.

I have also sold a house that had an entire apartment built into what had previously been a tall crawls space of a house on a hillside. This apartment had a separate entry, a full kitchen, and a full bathroom. It was done with zero permits. I contacted the permitting department of the city the house was located in, West Linn, and came clean with a planner. He told me that the city is aware that people do this and that the city did not have the resources to go after people when this happens. The way that the home owner and I handled this is that we did not give any value to the apartment when we priced the house. We then did full disclosure to the buyer who bought it. It was clearly explained in the seller’s property disclosure statement. We were able to find a buyer who accepted this and the house sold with no issues. So lack of permits did not prevent the sale of a house, but it did have an impact on the value because the house was sold without including the value that the apartment would have had if it had been permitted.

So that’s my take on permits. Please let me know if you have any questions,
Dianne

Market Activity May 16-22, 2016

What a wonderful time of year! Houses really shine in the late spring with yards in their full, lush glory and the days growing longer and warmer. All of this corresponds with the busiest season of the real estate year. Last week in LO was really balanced between homes coming onto the market and homes selling. We had 20 new listings, 22 houses go in to pending status, and 17 closed/sold homes. I also want to restate what Linda said last week. Please notice that every price point is covered here: less expensive and more affordable homes right up to million dollar estates. LO has it all!
Following is the breakdown for you according to RMLS:

New on the Market (May 16-22, 2016)

Address Type Price BR Baths Sq Ft
74 Galen St Condo $159,000 2 2 995
31 Oswego Summit Condo $174,000 1 1 721
668 McVey Ave #50 Condo $380,000 1 1 636
4300 Silver Ct Condo $399,900 3 3.5 2246
1248 Ash St Detached $425,000 2 1 1631
5895 Burma Rd Detached $459,900 4 2.5 1781
13278 Vermeer Dr Detached $469,900 3 2.5 1856
4199 Fruitwood Ct Detached $525,000 3 2 2230
32 Spinosa Detached $549,500 4 3.5 2542
14466 Holly Springs Rd Detached $550,000 5 3 2238
4188 Cobb Way Detached $575,000 6 3 2577
17 Laurel St Detached $625,000 3 1.5 3096
24 Northview Ct Attached $630,000 3 3.5 2938
17658 Brookhurst Dr Detached $750,000 3 3 4226
1287 Bickner St Detached $825,000 4 3.5 2665
12716 Elk Rock Rd Detached $995,000 3 2.5 4015
2125 Ridge Pointe Dr Detached $995,000 3 3.5 3489
15501 Diamond Head Rd Detached $1,095,000 3 3 2353
17900 Sarah Hill Ln Detached $1,390,000 4 3 4186
1617 Lake Front Rd Detached $3,250,000 4 4.5 4610

Pending Sales (May 16-22, 2016)

Address Type Price BR Baths Sq Ft CDOM
47 Eagle Crest Dr #17 Condo $129,900 2 1 932 6
48 Eagle Crest Dr 3E Condo $157,900 2 2 1545 201
86 Kingsgate Rd B103 Condo $158,900 2 2 924 3
44 Eagle Crest Dr Condo $159,900 2 1 908 20
241 Cervantes Condo $264,900 2 2 1384 0
11 Britten Ct Attached $296,500 2 2 1318 3
90 Greenridge Ct Attached $358,000 3 2.5 1980 54
5835 Carman Dr Detached $399,900 3 2.5 1340 29
17614 Schalit Way Detached $425,000 3 2 1569 1
67 Condolea Terr Condo $437,900 3 3 2373 5
26 Northview Ct Attached $525,000 2 3 2095 15
18978 Indian Springs Rd Detached $529,900 4 3 2860 6
1430 Woodland Terr Detached $579,000 5 3 2904 8
1400 Horseshoe Curve Detached $679,000 3 2.5 2248 6
2331 Prestwick Rd Detached $825,000 5 3 2613 0
1920 Glenmorrie Dr Detached $849,000 3 3.5 4370 18
4688 Chelsea Ln Detached $889,900 4 2.5 3549 34
4120 Canal Rd Detached $950,000 4 3.5 4104 221
1692 Village Park Ln Detached $975,000 4 3.5 3581 12
301 Iron Mountain Blvd Detached $1,095,000 4 3.5+.5 2946 16
12812 Alto Park Rd Detached $1,314,000 4 3.5 4040 14
711 7th St Detached $1,549,000 3 2.5+.5 3097 2

Sold/Closed (May 16-22, 2016)

Address Type List Price Sold Price Sq Ft CDOM
47 Eagle Crest Dr #11 Condo $159,900 $148,000 932 12
4 Touchstone #82 Condo $170,000 $170,000 135 0
57 Oswego Summit Condo $164,000 $180,000 764 2
16681 Lake Forest Blvd Detached $300,000 $306,000 936 3
5 Summit Ridge Ct Attached $379,900 $385,000 1576 8
4725 Jean Rd Detached $385,700 $388,200 1433 65
1820 Southshore Blvd Detached $450,000 $440,000 22373 0
6330 Shakespeare St Detached $479,900 $460,000 1,792 31
5674 La Mesa Ct Detached $548,950 $540,000 1802 24
676 9th St Detached $549,900 $560,000 1888 1
4779 Heritage Ln Detached $585,000 $592,000 2121 2
5887 Langford Ln Detached $629,950 $630,000 2724 8
3472 Tempest Dr Detached $675,000 $659,000 3146 28
1145 Timberline Dr Detached $1,065,000 $875,000 4564 213
16461 Chapin Way Detached $875,000 $900,000 4012 6
2543 Palisades Crest Dr Detached $1,150,000 $1,075,000 4141 32
17509 Ridgeview Ln Detached $1,250,000 $1,200,000 3810 8

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 ~ April 2016

April is seeing, generally, Price and New Listings increases over March, and a decrease in overall productive activity (Closed & Pending Sales) compared to April of last year.

Here are the latest/April numbers for the entire Portland area:

According to the RMLS Market Action Report for the Portland Metro Area, April, 2016:

  • There were 4,082 New Listings in April which was up 19.7% from March’s (3,409), and up 3.4% from April of 2015 (3,949).
  • At 2,611, April Closed Sales were up 1.8% from March’s 2,565, and down 4.5% from April of 2015’s 2,734.
  • April Pending Sales (Accepted Offers), at 3,432 were up  11.6% from March’s 3,076, but were   5% lower than April of 2015’s 3,613.
  • The Average Sale Price in April of $397,700 was up $12,600 over March’s $385,100, and also up around $50,200 from April of 2015’s $347,500. 

_____________________________________________________

The combined areas of Lake Oswego and West Linn  (RMLS lumps them together) for the month of April 2016 reported:

    •  324Active Listings  (March was 284)
    •  255 New Listings   (March was 189 )
    •  177 Pending Sales (March was 150) ***Down 11.5% from Apr 2015)
    •  150 Closed Sales   (March was 114)
    • Average Sale Price for April: $650,000 (March/$639,500. )
      • 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.
    • Average Time on the Market: 57 Days (March was 92)

Market Activity ~ May 9-15, 2016

The overall Portland area is experiencing record activity, and, as it so deserves, Lake Oswego is very popular as a destination in the metro area for those making one kind of life change or another.  As always, you’ll notice the full range of price-points; a fact about Lake Oswego lost on many.  Yes, there are lots of options here!

Last week we saw 19 New properties enter the Lake Oswego market, 30 move to Pending status, and 16 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 9-15, 2016)

Address List Price # Beds # Baths Total SF Prop Type
206 OSWEGO SMT -Main $249,000 2 2 1506 CONDO
5500 MCEWAN RD $435,000 3 2 1820 DETACHD
18978 INDIAN SPRINGS RD $529,900 4 3 2860 DETACHD
1161 UPPER DEVON LN $574,995 4 2.1 2265 DETACHD
6 WALKING WOODS DR $575,000 4 2.1 2870 DETACHD
1430 WOODLAND TER $579,000 5 3 2904 DETACHD
510 COUNTRY CLUB RD $655,000 4 3 3274 DETACHD
1400 HORSESHOE CURV $679,000 3 2.1 2248 DETACHD
4252 ALBERT CIR $689,000 4 2.1 2964 DETACHD
5530 DUNMIRE DR $725,000 4 3 3040 DETACHD
15964 PARKER RD $799,900 4 3.1 3378 DETACHD
220 GREENWOOD RD $850,000 3 4 2701 DETACHD
3788 Southshore BLVD $915,000 3 3 3224 DETACHD
4726 UPPER DR $923,000 3 2 2250 RES-MFG
16872 QUAIL CT $965,000 4 3.1 3174 DETACHD
1692 VILLAGE PARK LN $975,000 4 3.1 3581 DETACHD
4136 CASEY CT $1,195,000 5 3.1 3998 DETACHD
1622 LESLIE LN $1,795,000 5 3.1 5827 DETACHD
1400 RIDGECREST DR $2,250,000 4 4 4202 DETACHD

PENDING SALES (May 9-15, 2016)

Address List Price # Bedrooms Total Baths Total SF Prop Type CDOM
65 GALEN ST -Grnd $135,000 1 1 689 CONDO 4
30 CERVANTES CIR -Lower $159,000 2 1.1 1112 CONDO 7
3916 CARMAN DR -Main $229,900 2 2.1 1098 CONDO 74
165 OSWEGO SUMMIT #165 $235,000 2 2 1383 CONDO 4
16250 PACIFIC HWY #74 $274,899 2 2 1324 CONDO 47
10 SAINT HELENS CIR $300,000 3 2 1410 DETACHD 7
4 WHEATHERSTONE $372,000 3 2.1 1692 ATTACHD 2
26 PREAKNESS CT $375,000 2 1.1 1464 ATTACHD 5
3488 DEVONSHIRE DR $399,900 2 2 1647 ATTACHD 4
128 KINGSGATE RD $405,000 3 2.1 1689 DETACHD 1
5829 BENFIELD CT $459,000 4 2.1 1744 DETACHD 78
13449 VERMEER DR $495,000 3 2.1 1877 DETACHD 2
4 MORNINGVIEW PL $499,000 2 2.1 1880 ATTACHD 43
17436 WREN CT $529,000 4 3 2278 DETACHD 14
5182 TREE ST $549,900 4 2 1750 DETACHD 36
2760 OVERLOOK DR $569,500 4 2.1 2441 DETACHD 28
2302 OVERLOOK DR $579,000 4 2.1 3125 DETACHD 334
4954 MULHOLLAND DR $589,900 3 2.1 2498 ATTACHD 22
4717 FIRWOOD RD $599,000 6 3 2502 DETACHD 0
20 MONTICELLO DR $599,900 3 3.1 3848 DETACHD 4
20 JUAREZ ST $619,000 5 4 3464 DETACHD 233
839 E AVE $649,000 4 2.1 1722 DETACHD 5
17700 KELOK RD $670,000 3 3 2480 DETACHD 5
187 FURNACE ST -Upper $724,900 2 2.1 1927 DETACHD 0
18411 TAMAWAY DR $739,000 4 2.1 2576 DETACHD 6
100 LEONARD ST -Upper $749,000 3 2.1 2734 CONDO 17
1269 LAKE GARDEN CT $869,000 4 2.1 2056 DETACHD 202
19460 SW EASTSIDE RD $969,000 5 4.1 4521 DETACHD 64
18493 RAY RIDGE DR $1,050,000 4 3.3 4401 DETACHD 367
17849 UPPER CHERRY LN $3,200,000 4 6.3 8731 DETACHD 0

SOLD (May 9-15, 2016)

Address O/Price Close Price # Bedrooms Total Baths Prop Type Total SF CDOM
86 KINGSGATE RD #C201 $149,900 $160,000 2 2 CONDO 938 3
48 EAGLE CREST DR #1C $239,000 $245,000 2 2 CONDO 1399 1
5057 FOOTHILLS DR #F $285,000 $284,500 2 2 CONDO 1272 31
6343 HIAWATHA CT $375,000 $375,362 3 1 DETACHD 1056 3
125 MIDDLECREST RD $399,900 $390,000 3 1 DETACHD 800 23
4101 CHAPMAN WAY $465,000 $460,000 3 2.1 DETACHD 1864 142
18922 KRISTI WAY $415,000 $475,000 2 2 DETACHD 1397 4
13852 SHIREVA DR $550,000 $540,000 5 3 DETACHD 2664 74
5124 LAKEVIEW BLVD $579,000 $570,000 4 3 DETACHD 2932 153
2500 PARK RD $579,900 $579,900 3 3 DETACHD 1811 29
4 CAMELOT CT $640,000 $642,500 5 3 DETACHD 3344 5
639 CARRERA LN $849,000 $759,000 5 3.1 DETACHD 4305 331
4018 CANAL WOODS CT $839,900 $800,000 5 3.1 DETACHD 3600 177
5876 RIDGETOP CT $819,000 $819,000 4 2.1 DETACHD 3280 6
13050 KNAUS RD $1,699,000 $1,650,000 4 3.1 DETACHD 4821 56
13056 KNAUS RD $1,688,000 $1,688,000 4 3.1 DETACHD 5244 1

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

Portland Houses in High Demand

Hello everybody!

This spring has been super active in the Real Estate market, and I am sure all of you have noticed that buying a house right now can lead to a scramble to out-bid other buyers – especially in Portland.

We are seeing a huge increase of interest in houses, which leads to competition. Something I was talking with one of my buyers about recently was: what is going on with the market and why are there so many people looking to buy houses right now?

Well one of the big reasons is that there are more jobs available. Millennials, who graduated in a time of recession, are now landing career jobs and are able to afford loans to buy their first home. Not to mention there is financial help (such as grants) for new home buyers.

Another big reason for increased demand would be that there are more buyers! Those who went through bankruptcy during the recession have resolved their debt and are able to apply for loans again. Which is wonderful news.

And lastly: Portland is still one of the most popular cities to move too. According to CNN, as of January 4th, Oregon remains one of the most popular places for people to move to (Article can be found here: http://money.cnn.com/2016/01/04/real_estate/oregon-most-popular-moving-states-2015/).

There are a myriad of other reasons as to why there is so much demand, but I feel that these three reasons are some of the larger reasons as to what is going on with the increased demand.

Anyway, thank you all for reading. And as always if you have any questions regarding Real Estate in the Portland Metropolitan area, feel free to contact us.

Market Activity Report April 25th - April 8th, 2016

Hey all!
Looks like I missed out on posting the market analysis report for April 25th through to May 1st. So to make up for it I am doing a full market report from the 25th to the 8th. Should be a big chunk of info!
Actually while I was doing this I noticed that a lot of condos had gone pending and have been sold. Looks like condos are pretty hot on the market!

Spring has so far been very busy, and I honestly can’t believe it is May already. Time is going by so fast!

Hope you all had a wonderful cinco de mayo!

Following is the breakdown for you according to RMLS:

New on Market (Apr 25- May 08, 2016)

Address Type Price Bedrooms Bathrooms Sqft
65 GALEN ST CONDO 135,000 1 1 689
30 CERVANTES CIR CONDO 159,000 2 1.5 1112
10 SAINT HELENS CIR DETACHED 300,000 3 2 1410
26 PEAKNESS CT ATTACHED 375,000 2 1.1 1,464
3488 DEVONSHIRE DR ATTACHED 399,900 2 2 1647
17335 ASHLEY CT ATTACHED 475,000 4 3 2161
300 LAKE BAY CT DETACHED 475,000 2 1 1480
580 2ND ST CONDO 479,000 2 1.5 1464
13449 VERMEER DR DETACHED 495,000 3 2.5 1877
6094 FROST LN DETACHED 519,900 4 2.5 2040
26 NORTHVIEW CT ATTACHED 525,000 2 3 2095
28 AQUINAS ST DETACHED 529,000 3 2 1960
17436 WREN CT DETACHED 529,000 4 3 2278
4231 SUNSET DR DETACHED 599,000 4 2 2272
20 MONTICELLO DR DETACHED 599,900 3 3.5 3848
17935 LAKE HAVEN DR DETACHED 647,500 5 3.5 3500
2601 LOOKOUT CT DETACHED 650,000 3 2.5 2400
17901 STAFFORD RD DETACHED 699,000 3 2 2184
3540 UPPER DR DETACHED 729,900 4 2.5 2716
18411 TAMAWAY DR DETACHED 739,000 4 2.5 2576
1705 LEE ST DETACHED 749,000 4 3.5 3036
1510 CHERRY CREST DR DETACHED 759,900 6 4 3786
13596 STREAMSIDE DR DETACHED 788,000 4 2.5 3430
13483 SNOWBERRY CT DETACHED 799,000 3 2.5 3308
3909 BASS LN DETACHED 849,000 5 3.5 3876
1920 GLENMORRIE DR DETACHED 849,000 3 3.5 4370
1623 GLENMORRIE DR DETACHED 850,000 4 4.5 5677
727 LAUREL ST DETACHED 850,000 3 3.5 2924
4667 SHEPHERDS LN DETACHED 869,900 4 3 2999
2110 GREENTREE RD DETACHED 899,000 4 3.5 2908
4378 ALBERT CIR DETACHED 939,000 5 3 3734
14261 UPLANDS DR DETACHED 989,000 5 4 3843
454 9TH ST DETACHED 1,225,000 3 4 3278
14112 HEATHROW LN DETACHED 1,295,000 5 3.5 4828
12812 ALTO PARK RD DETACHED 1,314,000 4 3.5 4040
2707 SOUTHSHORE BLVD DETACHED 1,449,000 3 3.5 3122
1820 NORTHSHORE RD DETACHED 1,795,000 3 2.5 2808
16 DOVER WAY DETACHED 1,998,000 5 5.5 8147
1115 LAKE FRONT RD DETACHED 2,395,000 4 4 3900
13959 FOSBERG RD DETACHED 2,500,000 4 5.5 5075
420 RIDGEWAY RD DETACHED 2,995,000 4 4 3503
1300 FAIRWAY RD DETACHED 3,490,000 4 3.5 8428

Pending Sales (Apr 25- May 08, 2016)

Address Type Price Bedroom Bathrooms DOM
100 KERR PKWY #53 CONDO 110,000 1 1 16
86 KINGSGAGE RD C201 CONDO 149,900 2 2 3
77 GALEN RD CONDO 164,900 2 2 41
167 OSWEGO SUMMIT CONDO 180,000 2 2 27
342 CERVANTES CIR CONDO 185,000 2 1.5 5
44 EAGLE CREST DR #28 CONDO 199,000 3 2 47
154 RIDGEWAY RD CONDO 275,000 3 1.5 4
48 EAGLE CREST DR 5B CONDO 277,500 3 2 5
45 EAGLE CREST DR #509 CONDO 285,000 2 2 264
4422 THUNDER VISTA LN CONDO 288,500 2 2.5 8
4465 GOLDEN LN CONDO 299,500 2 2.5 3
456 5th ST CONDO 336,900 2 1.5 5
4322 SILVER CT CONDO 339,900 3 3.5 13
3525 UPPER DR DETACHED 350,000 2 1 2
4131 OLD GATE RD DETACHED 369,950 4 2 36
5 SUMMIT RIDGE CT ATTACHED 379,900 2 2.5 8
12 SUMMIT RIDGE CT ATTACHED 389,900 2 2.5 4
16510 MAPLE CIR DETACHED 399,000 1 1 7
18820 65th AVE DETACHED 420,000 3 2.5 3
2545 ORCHARD HILL LN DETACHED 435,000 3 2 5
19060 INDIAN SPRINGS CIR DETACHED 439,000 3 2 2
2280 FERNWOOD CIR DETACHED 449,950 3 2 6
15 MASARYK ST DETACHED 499,950 4 3 41
13005 PRINCETON CT DETACHED 529,900 3 2.5 3
18715 INDIAN CREEK DR DETACHED 539,000 3 2 25
5 PARTRIDGE LN DETACHED 559,000 3 2.5 5
16545 INVERURIE RD DETACHED 569,000 4 3 3
19201 REDWING CT DETACHED 599,900 4 3 109
4729 LAKEVIEW BLVD DETACHED 625,000 3 2.5 4
51 HILLSHIRE DR DETACHED 650,000 3 2.5 87
1805 GLENMORRIE TER DETACHED 689,000 3 2.5 150
14540 UPLANDS DR DETACHED 699,999 3 2.5 52
1121 LAUREL ST DETACHED 719,900 3 2.5 4
13978 WESTCOTT CT DETACHED 735,000 3 3 14
4137 ORCHARD WAY DETACHED 750,000 5 2.5 28
17519 BROOKHURST DR DETACHED 789,900 4 4 74
18153 WESTMINSTER DR DETACHED 789,900 4 2.5 54
1471 WOODLAND TER DETACHED 819,000 5 4.5 58
16633 WOODSMAN CT DETACHED 849,900 4 4 239
39 HILLSHIRE DR DETACHED 894,500 4 4.5 7
645 COUNTRY CLUB RD DETACHED 899,000 4 2.5 5
14435 UPLANDS DR DETACHED 965,000 4 3.5 2
4745 LAMONT WAY DETACHED 975,000 4 3 42
18320 RIVER EDGE LN DETACHED 1,020,000 4 4 385
6720 CHILDS RD DETACHED 1,295,000 6 5.5 147
3914 EDENS EDGE DR DETACHED 1,425,000 5 5.5 7

Sold/Closed(Apr 25- May 08, 2016)

Address Type List Price Close Price Sqft DOM
84 OSWEGO SMT CONDO 199,000 129,050 764 12
86 KINGSGATE RD CONDO 145,000 147,000 849 14
36 OSWEGO SMT CONDO 175,000 170,000 1140 3
47 GREENRIDGE CT ATTACHED 229,900 22,500 1176 102
16250 PACIFIC HWY CONDO 249,000 265,000 1305 5
5100 UPPER DR DETACHED 349,900 324,000 956 83
11 SUMMIT RIDGE CT ATTACHED 349,900 342,500 1576 42
5998 SHAKESPEAR ST DETACHED 362,900 370,000 1227 13
2 EAGLE CREST DR DETACHED 395,000 385,000 1830 5
2500 GREENTREE RD DETACHED 399,900 438,500 1502 4
826 CORNELL ST DETACHED 447,500 443,660 1184 14
3365 UPPER DR DETACHED 399,900 450,000 1378 4
1244 HALLINAN CIR DETACHED 499,500 460,000 2485 50
1304 LAUREL ST DETACHED 417,500 463,300 1540 6
1531 WOODLAND TER DETACHED 448,000 476,000 1986 4
668 MCVEY AVE CONDO 445,000 495,000 992 2
16969 ALDER CIR DETACHED 569,000 510,000 1534 61
17755 HILL WAY DETACHED 475,000 521,000 1907 4
44 DA VINCI ST DETACHED 519,000 546,000 2005 4
17510 CARDINAL DR DETACHED 599,500 570,000 2550 36
16773 ALDER CIR DETACHED 485,000 575,000 2590 3
16017 OAKRIDGE CT DETACHED 569,000 580,000 1971 3
919 CUMBERLAND RD DETACHED 605,000 605,000 2828 25
17455 BROOKHURST DR DETACHED 648,950 648,000 2884 36
17126 HOFER CT DETACHED 668,000 660,000 2637 38
18000 CARDINAL DR DETACHED 674,900 660,000 2750 50
0 SW CARMAN DR DETACHED 699,000 699,000 2751 213
5336 LOWER DR DETACHED 699,000 720,062 2526 61
18056 SW WESTMINSTER DR DETACHED 744,000 744,000 2914 2
17343 BROOKHURST DR DETACHED 749,000 755,000 3443 11
5632 GRAND OAKS DR DETACHED 765,000 765,000 2898 3
568 WEIDMAN CT DETACHED 819,000 775,000 3702 27
1662 WOODSMAN CT DETACHED 779,000 779,000 3196 11
625 3RD ST ATTACHED 837,000 815,000 2643 183
17193 LOWENBERG TER DETACHED 889,900 890,000 2973 6
4255 CHAD DR DETACHED 899,900 900,000 3853 7
14626 UPLANDS DR DETACHED 934,900 934,900 2951 4
18945 BRYANT RD DETACHED 987,000 957,500 4755 133
4367 HAVEN ST DETACHED 1,070,000 1,070,000 3617 7
531 7TH ST DETACHED 1,125,000 1,089,000 2818 135
2809 ARROWHEAD CT DETACHED 1,560,000 1,250,000 2624 20
2120 GLENMORRIE DR DETACHED 1,395,000 1,350,000 4383 2
654 CABANA LN DETACHED 1,995,000 1,900,000 3100 0
1970 TWIN POINTS RD DETACHED 2,200,000 2,100,000 4649 182
16835 GREENBRIER RD DETACHED 5,950,000 5,400,000 8852 624

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.

Internet and the Open House

Ridge 030So many things about marketing a home for sale have changed due to the Internet. One of those things is the importance of an open house.

For years there was a disconnect between open houses and marketing in general. Sure, back in the day a Realtor would put an ad in the newspaper to advertise an open house. People would come in with the homes section in hand and red ink circled around the houses that they were touring that day. Then along came the Internet but there was not an open house connection. That changed about 5 years ago and today it is a huge driving force in the early marketing of a property.

Ridge 006Ridge 003Today the RMLS allows a Realtor to post their open houses directly into the data. This is then picked up widely across the Internet with sights like Zillow and Redfin.

Add to that today’s fast market. The new listings are a huge draw for prospective buyers. They are on the Internet as never before watching for their dream house.

A well planned marketing strategy is to list a house toward the end of the week, Thursday or Friday, plan open houses all weekend on the first weekend, and then wait for the hordes of buyers to come on thru. I have done this twice this spring and in both cases it worked beautifully.

So, yes, open houses are an important marketing tool: now more than ever.

Ridge 020Having shared this, please come and see me today. I am holding open a new listing in our neighboring community of West Linn. 2759 Ridge Lane was built in 2010. It is a gorgeous Renaissance built home with all of the goodies Renaissance is known for: huge gourmet kitchen, substantial wood work with extra trim and cabinetry, a master suite that is substantial with custom walk-in shower, garden tub, double sinks and a big walk-in closet. There are 4 bedrooms + a bonus room. There is a 3 car garage that is tandem on one side. There is a big, flat fenced yard with a covered patio. It’s a lot for $629,900. In Lake Oswego this house would be $900,000. Please come on by. I will be holding it open today and tomorrow from noon to 3pm.
Dianne

Market Activity April 18-24, 2016

Looking at how busy the real estate market is right now, I feel blessed for good health and stamina. Whew! What a busy time of year. Our market historically peaks in May and June. So this busy season is just beginning. We are continuing to see a demand that is greater than the supply. Last week in Lake Oswego there were 18 new listings, 33 that went into pending status, and 20 closed sales.

Following is the breakdown for you according to RMLS:

New on Market (Apr 18-24, 2016)

Address Type Price BR Baths Sq Ft
86 Kingsgate Rd C201 Condo $149,900 2 2 938
154 Ridgeway Rd Condo $275,000 3` 1.5 1791
4422 Thunder Vista Ln Condo $288,500 2 2.5 2040
5 Summit Ridge Ct Attached $379,900 2 2.5 1576
5835 Carman Dr Detached $430,000 3 2.5 1650
668 McVey Ave #52 Condo $450,000 3 1.5 992
17927 Belmore Ave Detached $475,000 3 1.5 1488
16809 Cornell St Detached $549,000 3 3.5 2464
4954 Mulholland Dr Attached $589,900 3 2.5 2498
19 Falstaff St Detached $599,000 4 2.5 3207
16064 Waluga Dr Detached $619,900 7 3 2552
5950 Southwood Dr Detached $775,000 3 2.5 2731
737 Country Club Rd Detached $799,900 3 2.5 3242
2247 Sequoia Ct Detached $925,000 3 2.5 3493
588 9th St Detached $1,200,000 3 3.5 3536
3914 Edens Edge Dr Detached $1,425,000 5 5.5+.5 6635
3177 Douglas Circle Detached $1,450,000 5 3.5 4732
4100 Canal Rd Detached $1,499,000 4 3.5 4957
448 Country Club Rd Detached $1,595,000 4 3.5 4873
13750 Knaus Rd Detached $1,695,000 5 4 4773

Pending Sales (Apr 18-24, 2016)

Address Type Price BR Baths Sq Ft CDOM
86 Kingsgate Rd 202A Condo $145,000 2 2 849 14
57 Oswego Summit Condo $164,900 1 1 764 2
4000 Carman Dr #80 Condo $179,900 2 2 1100 3
668 McVey Ave #42 Condo $252,500 2 1 836 120
16250 Pacific Hwy #46 Condo $265,000 2 2 1305 14
210 State St #8 Condo $340,000 2 2.5 1614 57
1400 Parrish St Condo $349,900 3 2.5 1880 60
5998 Shakespeare St Detached $362,900 3 2 1743 13
18630 Kristi Way Detached $399,900 3 2 1743 2
668 McVey Ave #30 Condo $445,000 3 1.5 992 2
826 Cornell St Detached $447,500 2 1 1184 14
5266 Charleton Ct Detached $479,000 3 2 2063 10
16969 Alder Circle Detached $529,000 3 2 1534 61
14450 Hilly Springs Rd Condo $550,000 5 3 2238 19
13852 Shireva Dr Detached $550,000 5 3 2664 74
4623 Hastings Pl Detached $569,900 4 2.5 2151 0
313 3rd St Attached $639,900 3 3.5 19622 11
2 Walking Woods Dr Detached $643,900 4 3 4116 26
3560 Tempest Dr Detached $675,000 4 2.5 2847 5
6 Tanglewood Dr Detached $690,000 3 3.5 3108 6
17018 Summer Pl Detached $699,900 4 2.5 2925 8
4719 Lakeview Blvd Detached $725,000 3 2.5 2923 5
19330 River Run Dr Detached $799,000 4 4 3786 52
884 Cedar St Detached $995,000 4 3.5 3120 57
1224 Tyndall Ct Detached $1,039,000 4 3.5 4157 1
18260 River Edge Ct Detached $1,049,000 4 3.5 4711 56
630 8th St Detached $1,095,000 4 2.5 2832 5
642 Iron Mountain Blvd Detached $1,095,000 3 2.5+.5 4575 369
950 Schukart Ln Detached $1,098,000 4 2.5 3530 29
844 5th St Detached $1,100,000 3 3 2590 19
14365 Fosberg Rd Detached $1,150,000 5 3.5 53343 63
3140 Childs Rd Detached $1,850,000 5 6.5 6692 35
13237 Knaus Rd Detached $1,995,000 4 4.5 4900 44

Sold/Closed(Apr 18-24, 2016)

Address Type List Price Sold Price Sq Ft CDOM
86 Kingsgate Rd H-104 Condo $124,900 $139,000 840 7
50 Oswego Summit Condo $155,000 $175,000 752 1
213 Cervantes Condo $220,000 $220,000 1,216 1
191 Oswego Summit Condo $269,000 $258,000 1506 5
162 4th St Detached $560,000 $554,000 1948 0
808 Ellis Ave Detached $599,000 $635,000 2108 2
17183 Carlson Ct Detached $665,000 $665,000 3366 15
411 Ridgeway Rd Detached $695,000 $676,880 3094 5
6413 McDuff Ct Detached $699,900 $694,500 3091 94
13679 Melrose Pl Detached $699,000 $700,000 4752 0
17743 Marylcreek Dr Detached $780,000 $738,000 3288 52
18217 Delenka Ln Detached $769,900 $742,000 4166 61
480 Iron Mountain Blvd Detached $775,000 $794,250 3067 4
19229 35th Pl Detached $899,500 $900,000 4764 347
408 Northshore Rd Detached $929,900 $940,000 3753 70
17442 Ridgeview Ln Detached $1,295,000 $1,200,000 5036 228
19342 Lorna Ln Detached $1,298,000 $1,285,000 4114 85
1164 Crestline Ct Detached $1,469,000 $1,392,938 6800 58
12838 Alto Park Rd Detached $1,439,000 $1,437,500 4475 145
915 Atwater Rd Detached $1,895,000 $1,72,500 4102 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.

News & Notes ~ March 2016

Lake Oswego & the entire metro area is moving right along.

Here are the latest/March numbers for the entire Portland area:

According to the RMLS Market Action Report for the Portland Metro Area, march, 2016:

  • There were 3,409 New Listings in March which was up 17.7% from February (2,896), and 5.2% down from March of 2015 (3,596).
  • At 2,565, March Closed Sales were up a whopping 41.5% from February’s 1,813, and up 4.4% from March of 2015’s 2,457.
  • March Pending Sales (Accepted Offers), at 3,076 were up  10.4% from February’s 2,786, but were   9.1% under March of 2015’s 3,384 total.
  • The Average Sale Price in March of $385,100 was up around $20,000 over February’s $364,900, and also up around $15,000 from March of 2015’s $368,800. 

_____________________________________________________

The combined areas of Lake Oswego and West Linn  (RMLS lumps them together) for the month of March 2016 reported:

    •  284 Active Listings  (Feb was 260)
    •  189New Listings   (Feb was 185 )
    •  150 Pending Sales    (Feb was 147)
    •  114 Closed Sales   (Feb was 99)
    • Average Sale Price for March: $639,500 (Feb/$577,500. )
      • 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.
    • Average Time on the Market: 92 Days (Feb was 92 also!)

Market Activity ~ April 11-17, 2016

Steady as she goes…

We saw 23 New properties enter the Lake Oswego market, 24 move to Pending status, and 27 “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (Apr 11-17, 2016)

Address List Price # Beds # Baths Total SF Prop Type
47 EAGLE CREST DR $88,897 2 1 932 CONDO
100 KERR PKWY #53 $110,000 1 1 617 DETACHD
4455 GOLDEN LN $309,000 2 2.1 1705 CONDO
4322 SILVER CT $339,900 3 3.1 1996 CONDO
12842 Boones Ferry RD $345,000 2 2.1 1136 CONDO
4840 LAMONT WAY $419,000 3 2 1784 DETACHD
1223 HEMLOCK ST $429,500 2 1 748 DETACHD
5266 CHARLETON CT $479,000 3 2 2063 DETACHD
18715 INDIAN CREEK DR $549,000 3 2 2076 DETACHD
2760 OVERLOOK DR $578,500 4 2.1 2441 DETACHD
57 TOUCHSTONE $629,000 4 3 2465 DETACHD
18521 WAXWING CIR $670,000 3 2.1 2936 DETACHD
17018 SUMMER PL $699,900 4 2.1 2925 DETACHD
4719 LAKEVIEW BLVD $725,000 3 2.1 2923 DETACHD
13528 TWIN CREEK LN $800,000 4 3.1 3129 DETACHD
1172 TROON RD $869,900 5 3.1 2504 DETACHD
4688 CHELSEA LN $915,000 4 2.1 3549 DETACHD
630 8TH ST $1,095,000 4 2.1 2832 DETACHD
915 CEDAR ST $1,100,000 4 3.1 3219 DETACHD
1427 HORSESHOE CURV $1,450,000 2 2 2192 DETACHD
17345 BERGIS FARM DR $1,550,000 4 3.2 5199 DETACHD
855 G AVE $1,625,000 3 2.1 3710 DETACHD
13800 KNAUS RD $1,995,000 5 3.1 5132 DETACHD

PENDING SALES (Apr 11-17, 2016)

Address List Price # Beds # Baths Total SF Prop Type CDOM
45 CRESTFIELD CT #45 $165,000 2 1.1 923 CONDO 0
668 MCVEY AVE #85 $215,000 2 1.1 992 CONDO 3
45 EAGLE CREST DR #519 $275,000 3 2 1453 CONDO 3
4902 CHILDS RD $355,000 3 1.1 1407 DETACHD 10
17 BRITTEN CT $359,900 3 2.1 1972 ATTACHD 15
1402 PARRISH ST /Main $379,000 3 2.1 1862 CONDO 46
6330 SHAKESPEARE ST $469,900 4 3 2184 DETACHD 31
67 TANGLEWOOD DR $499,000 4 2.1 3068 DETACHD 4
16525 GLENWOOD CT $559,900 3 2.1 2166 DETACHD 2
4640 SW DOGWOOD DR $585,000 3 3 3531 DETACHD 2
3472 TEMPEST DR $659,000 4 2.1 3146 DETACHD 28
17890 ROYCE WAY $664,000 5 3 3134 DETACHD 60
1 SW Carman DR $725,000 3 2.1 2530 DETACHD 225
13978 WESTCOTT CT $735,000 3 3 3361 DETACHD 2
4121 Childs RD $815,000 4 3.1 3352 DETACHD 21
16461 CHAPIN WAY $875,000 4 2.1 4012 DETACHD 6
1145 TIMBERLINE DR $898,950 4 2 4564 DETACHD 213
19229 35TH PL $899,500 5 3.1 4764 DETACHD 347
18360 RIVER EDGE LN $1,029,000 4 2.1 3948 DETACHD 3
575 B AVE $1,059,000 5 3.1 3534 DETACHD 9
17787 CARDINAL DR $1,098,000 4 3 3002 DETACHD 1175
2543 PALISADES CREST DR $1,099,000 4 2.2 4141 DETACHD 32
17509 RIDGEVIEW LN $1,250,000 4 3.1 3810 DETACHD 8
16852 ALDER CIR $2,185,000 4 3.1 3192 DETACHD 45

SOLD (Apr 11-17, 2016)

Address Open Price Closed Price # Beds # Baths Total SF Prop Type CDOM
96 GALEN ST /Upper $129,000 $135,000 1 1 550 CONDO 15
73 OSWEGO SMT /Upper $179,900 $155,500 2 2 1212 CONDO 4
4000 CARMAN DR #88 $169,000 $165,000 2 2 836 CONDO 4
205 OSWEGO SMT /Main $162,900 $175,000 2 2 1383 CONDO 20
282 Cervantes /Main $219,900 $229,000 2 2 1052 CONDO 29
15948 QUARRY RD $464,000 $385,000 2 1 920 DETACHD 227
6210 CHILDS RD $425,000 $390,000 3 1.1 1296 DETACHD 209
14352 SHERBROOK PL $439,900 $425,800 3 2.1 1806 DETACHD 96
17311 ASHLEY CT $465,000 $455,000 4 2.1 2117 ATTACHD 9
4851 MADRONA ST $449,900 $460,000 4 2 1500 DETACHD 6
1680 PINE ST $419,000 $465,000 3 3 2472 DETACHD 5
17367 LAKE HAVEN DR $550,000 $485,000 3 2 2607 DETACHD 0
2757 GLEN HAVEN RD $519,000 $519,000 3 2 2420 DETACHD 20
5311 CHILDS RD $559,000 $534,500 4 2.1 1766 DETACHD 11
14584 RAINBOW DR $545,000 $547,000 4 3 2570 DETACHD 12
51 TANGLEWOOD DR $550,000 $575,000 4 2.1 2351 DETACHD 3
16636 MAPLE CIR $600,000 $625,000 4 2 2030 DETACHD 1
12844 SIERRA VISTA DR $610,000 $640,000 4 2.1 2501 DETACHD 2
4208 ALBERT CIR $674,900 $650,000 5 3 2777 DETACHD 18
2043 RIDGEWOOD RD $885,000 $852,500 5 3 3016 DETACHD 109
4657 DOGWOOD DR $889,000 $870,000 4 4 3890 DETACHD 19
5051 LAKEVIEW BLVD $949,800 $949,800 4 3.1 3355 DETACHD 146
17622 LAKE HAVEN DR $11,490,000 $980,000 3 2 1400 DETACHD 46
18711 WESTVIEW DR $995,000 $980,000 4 3.1 3591 DETACHD 23
3487 LAKE GROVE AVE $1,050,000 $1,075,000 4 3.1 3473 DETACHD 36
1979 COUNTRY CLUB RD $1,149,000 $1,149,000 5 5.1 4115 DETACHD 4
670 IRON MOUNTAIN BLVD $1,595,000 $1,459,000 4 3.2 5421 DETACHD 72

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.