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

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

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Hoping for an Aquatics Center

Not including the 6 years I lived in Lake Oswego as a teenager, I have been living in Lake Oswego for 22 years. In all of that time, I have been wanting a decent swim center. I don’t swim regularly, I’m a walker, but I do love to swim. I think the reason I don’t swim regularly is because the current city pool is, well, awful. It’s located at Lake Oswego High School and was built many decades ago. It’s old, and dank, and just not inviting. So the news I got in the latest issue of Hello LO really lifted my spirits.

On March 16th, the Lake Oswego City Council, along with the Lake Oswego School Board, voted unanimously to proceed with planning and construction of a new Community Recreation and Aquatics Center. The plan is to build it where the Municipal Golf Course currently sits at the junction of Stafford Rd and Overlook Dr. The planned facility will include a lap pool, warm water pool (I think that means a spa), plus space for meetings and activities.

I currently swim at the SW Community Center in the Multnomah Village neighborhood of Portland. It’s about a 15 minute drive from my house, but worth it. I so hope what Lake Oswego builds will be something similar.

The nicest pool I’ve ever enjoyed was in Victoria, B.C. Called Saanich Commonwealth Place, it was built for The Commonwealth Games in 1994. What this swim center has that I think is pretty much pure genius, is a library and a coffee shop. Think about it. The kids need some exercise, you want a cup of coffee, and everyone needs a good book. Pure Genius.

Wishing you well in these strange times, and hoping that this swim center can still come to life,
Dianne

Market Activity March 23-29, 2020

Based upon the numbers from last week’s market activity, I think we are seeing a contraction in the market place. In Lake Oswego we had 11 properties come onto the market, 8 move into pending status, and 14 sold/closed sales. The silver lining is that of the 8 pending sales, 6 sold in less than a week. So buyers are out there and they are ready to make a move.

I also want to say that Linda and I have been in this business long enough, through 9/11 and the great recession, to know that real estate never stops. This is because people’s lives happen. Babies are born, folks get divorced or transferred, life does not stop. If you need to make a move, you can still do that. Linda and I will do everything in our power to make your move as smooth as possible. We are here to help.

Following is the breakdown for you according to RMLS:

New on the Market (March 23-29, 2020)

Address Type Price BR Baths Sq Ft
42 Cervantes Circle Condo $195,000 2 1.5 912
5225 Jean Rd #208 Condo $265,000 2 2 1100
16250 Pacific Hwy #59 Condo $359,900 2 2 1305
5237 Dawn St Detached $494,800 3 5-Jan 1412
4900 Indian Creek Ct Detached $624,900 4 3 2124
934 Ash St Detached $724,900 4 2.5 1982
620 1st St Attached $750,000 3 3.5 1916
14655 Uplands Dr Detached $899,000 3 2 2462
13005 Sierra Vista Dr Detached $899,900 4 2.5 3448
1658 Village Park Ln Detached $1,258,000 4 3.5+.5 4634
16793 Graef Circle Detached $2,695,000 4 3.5 4220

Pending Sales (March 23-29, 2020)

Address Type Price BR Baths Sq Ft CDOM
15490 Brianne Ct Attached $329,000 2 2.5 1250 5
6313 Alyssa Terr Attached $389,000 3 2.5 1546 1
731 Clara Ct Detached $629,000 4 2.5 2700 1
17200 Canal Circle Detached $665,000 3 1.5 1774 6
4036 Melissa Dr Detached $849,900 4 3.5 3118 2
17896 Kelok Rd Detached $859,000 6 6 4093 212
2025 Wembley Park Rd Detached $899,900 3 2.5 2700 204
324 4th St Attached $625,000 2 2.5 1731 3

Sold/Closed (March 23-29, 2020)

Address Type List Price Sold Price Sq Ft CDOM
86 Kingsgate Rd Condo $269,900 $249,000 938 25
3834 Botticelli St Condo $279,500 $273,000 1,055 239
750 1st ST B3 Condo $395,000 $395,000 1546 7
68 Greenridge Ct Attached $515,000 $414,000 2868 293
14442 Orchard Springs Rd Condo $539,000 $520,000 1400 62
308 4th St Attached $625,000 $625,000 1731 90
18 Northview Ct Attached $675,000 $640,000 2671 21
780 2nd St Detached $699,900 $696,600 1536 3
4771 Avery Ln Detached $725,000 $785,000 2536 5
5533 Kenny St Detached $799,000 $810,000 2900 5
5340 Greystoke Dr Detached $1,095,000 $1,043,750 2955 34
19175 Stafford Rd Lot 4 Detached $1,529,950 $1,500,000 4524 388
19175 East Side Rd Detached $1,400,000 $1,270,000 5276 657
707 Lake Shore Rd Detached $1,925,000 $1,725,000 2992 98

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.

Real Estate in the Time of COVID

Dear Property Blotter Readers,

Dianne and I are thinking of you during this challenging moment & wishing health and peace to you and yours. I hope this is a time of staying at home with your loved ones & enjoying some things you usually don’t get to enjoy.

I’m told by my trusted Mortgage Advisors that mortgage interest rates are supposed to dip to 3-ish again shortly as that zero interest rate flushes out the crush that happened a few weeks ago when they went down that low (the saturation pushed them back up to 4-ish for a time). Sales are actually moving along really well in Lake Oswego and the overall Portland area right now (see Market Report). Prices are lowering in some cases and being pushed up in others with multiple offers. In other words- the usual, and right now we have 182 Active Properties for sale in Lake Oswego, with 87 currently Pending and 22 Sold/Closed last week. 22 of those Active Properties went on the market just last week.

The other day RMLS removed the Open House section from the site. Some Agents will still choose to have them and be very careful, but most are not doing so out of an appropriate abundance of caution, for now. Everyone is being extremely careful with sanitizing everything and following Seller guidelines for private in-person showings. Buyers are demonstrating a bit more discernment up front & are seeing only properties they’ve decided are on their “serious” list, which cuts down on any potential exposure for everyone as we all do our part. Typically hand-sanitizer is out, booties are used for shoes, Buyers are advised not to touch anything (for them and for the Seller) and Agents will generally wipe the lockbox, door handles, switches etc. Buyers are encouraged to bring their own wipes & sanitizer with them and to wear gloves and/or masks as warranted either by Seller instruction or their own sensibilities. Some Sellers will want their own Agent at showings to observe that nothing is touched in the home so that their Seller can return home with their mind at ease, and/but either way, Agents are doing their utmost to ensure safe protocols are followed.

As for promoting Listings, there are, of course, cool tools that can and are being promoted more liberally like Virtual Open Houses, Video Walk-Through’s and other things. Ask me if you’re interested in learning more about that.

In general, we all are in this together, and the camaraderie at-a-distance and diligence in every sector of the real estate community is truly impressive ~ People helping people fulfill their life-goals and stay safe & healthy in the process.

Please take care and do get in touch with me or with Dianne if you have a life-goal you don’t really want to put off ; ) We can make it happen, efficiently and safely.

Be Well~
Linda

Market Activity ~ March 16-22, 2020

People have important reasons for either Buying or Selling a home, and those reasons remain even when storms rage outside. The real estate market in the overall area is very busy. Last week in Lake Oswego, 24 New properties entered the market, 15 moved to Pending status, and 22 were “Closed”/Sold. We also have 188 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 16-22, 2020)

Address List Price # Beds # Baths Total SF Prop Type
4000 CARMAN DR, B27 $266,950 2 2 869 CONDO
4061 JEFFERSON PKWY $300,000 2 2.1 1462 ATTACHD
5056 FOOTHILLS DR #63 $318,000 2 2 1252 CONDO
12888 BOONES FERRY RD $419,900 2 2.1 1182 CONDO
15 SUMMIT RIDGE CT $438,888 2 2.1 1750 ATTACHD
18275 TERRY CT $439,900 3 1.1 1270 DETACHD
77 CONDOLEA WAY $520,000 3 3 2143 CONDO
121 WILBUR ST, A2 $537,500 3 2 1631 CONDO
6430 MCEWAN RD $549,000 6 2 1595 DETACHD
21 BECKET ST $649,900 4 2.1 3070 DETACHD
17200 CANAL CIR $665,000 3 1.1 1774 DETACHD
92 SW GARIBALDI ST $769,000 4 3.1 3172 DETACHD
17065 TUALATIN ST $869,900 3 2.1 2808 DETACHD
5267 LAKEVIEW BLVD $979,000 4 3.1 3454 DETACHD
14380 TRILLIUM CT $1,072,000 5 3 3962 DETACHD
13751 CAMEO CT $1,100,000 5 4 3350 DETACHD
4743 UPPER DR $1,128,000 4 2.1 3145 DETACHD
2100 RIDGE POINTE DR $1,150,000 5 5.1 5619 DETACHD
1983 RIDGEWOOD RD $1,198,000 5 5.1 4841 DETACHD
814 LAKE SHORE RD $1,249,000 3 2.1 2385 DETACHD
4190 CHAPMAN WAY $1,298,000 4 3.1 3624 DETACHD
714 EVERGREEN RD $1,369,000 4 3 3464 DETACHD
4720 FIRWOOD RD $1,395,000 4 3 3605 DETACHD
14190 SUNDELEAF DR $1,459,900 5 4 3688 DETACHD

PENDING SALES (March 16-22, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
66 GALEN ST / Upper $179,999 1 1 690 CONDO 39
#45 $234,900 2 1 852 CONDO 208
5054 FOOTHILLS DR, E $355,000 2 2 1252 CONDO 38
55 ORIOLE LN $399,000 3 2 1200 DETACHD 17
18540 SW KRISTI WAY $424,900 3 1.1 1277 DETACHD 3
19230 SW REDWING CT $455,000 4 2.1 1842 DETACHD 62
47 DA VINCI ST $599,000 3 2.1 2467 DETACHD 6
1285 Oak TER $600,000 3 2 1421 DETACHD 4
1640 WOODLAND TER $619,900 4 3 2398 DETACHD 6
16943 GREENTREE AVE $625,000 4 3.1 2433 DETACHD 4
4595 HASTINGS PL $703,000 4 2.1 2178 DETACHD 3
5688 RIDGETOP CT $799,900 3 3.1 3326 DETACHD 1
19505 OLSON AVE $842,700 5 2.1 3022 DETACHD 21
2397 HILLSIDE LN $925,000 5 3 3158 DETACHD 0
17506 Hill WAY $1,199,900 4 2.1 3163 DETACHD 300

SOLD (March 16-22, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
45 OSWEGO SMT / Lower $210,000 $200,000 1 1 764 CONDO 33
317 CERVANTES / Grnd $240,000 $236,000 2 2 1209 CONDO 178
16250 PACIFIC HWY #71 $245,000 $242,000 2 2 1305 CONDO 257
216 CERVANTES / Grnd $264,900 $270,000 2 1 1336 CONDO 3
17 SUMMIT RIDGE CT $325,000 $285,000 2 2.1 1844 ATTACHD 84
4210 WOODSIDE CIR $347,999 $350,600 3 2 1778 ATTACHD 151
4438 THUNDER VISTA LN #4438 $349,900 $358,900 2 2.1 2040 CONDO 164
4384 WOODSIDE CIR $375,000 $375,000 3 2 1705 ATTACHD 2
524 2ND ST $497,500 $490,000 2 2.1 1547 CONDO 2
2500 GREENTREE RD $559,000 $559,500 3 2 1502 DETACHD 5
7 PARTRIDGE LN $550,000 $562,500 3 3 2264 DETACHD 4
6450 FROST ST $594,900 $584,900 4 2.1 2216 DETACHD 3
2215 FERNWOOD CIR $600,000 $600,000 4 3 2640 DETACHD 0
2 MORNINGVIEW LN $685,000 $646,500 4 3.1 2898 DETACHD 241
18006 GIMLEY CT $688,000 $690,000 5 4 3110 DETACHD 3
17393 GRANDVIEW CT $824,500 $780,000 4 3.1 3672 DETACHD 108
14253 KIMBERLY CIR $895,000 $844,500 4 3.1 3527 DETACHD 40
14611 UPLANDS DR $975,000 $975,000 3 3 3028 DETACHD 2
1691 VILLAGE PARK LN $998,000 $998,000 4 3.1 3980 DETACHD 10
2050 CHILDS RD $1,295,000 $1,100,000 4 4.1 4814 DETACHD 272
17084 CHAPIN WAY $1,295,000 $1,250,000 4 3.1 4028 DETACHD 11
19097 Bryant RD $1,499,900 $1,510,251 4 4 3556 DETACHD 31

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.

Buyers Who Fish

There is a phenomenon that has been going on for a few years. It’s not new, it’s just become widespread. Perhaps you’ve experienced it. What I’m talking about is the unsolicited offer of interest in purchasing your house. These usually come in the form of letters in the mail, but I have had phone calls and text messages as well. One person included a $1 bill with each letter. I got quite of few of them, saved up the money on a magnet on my refrigerator, and then used it for a nice meal. That one in particular I really liked. I call these phishing buyers because they are phishing for houses that have not yet come onto the traditional real estate market.

I know not everyone gets these sorts of letters, but I also know that quite a few do. I know this because my clients tell me that they have received them and I frequently reach out to the letter writer to find out how serious their interest is. Up until about a month ago I’d never seen how this sort of offer might play out.

This brings me to the reason now is a great time to write about this experience. I have a client who is under water on her house. Job changes have made her life difficult and her house is now in foreclosure. She has been working very, very hard to keep her house, so this has been going on for quite some time. When you have this happen, the mortgage holder will start to put notices on the public record about the proceedings and when these notices come out, it brings out investors. Thus my client has been getting lots and lots of these sorts of letters.

Knowing she would be selling the house, we developed a strategy. She gave me all of the letters, emails, text messages, etc and I reached out to all interested parties. I let them know that yes, the house would be coming onto the market and that I was keeping a list of those who had shown interest. I let them know that I’d inform them when the house came up for sale. So, in a way, these folks had advanced knowledge. But I also wanted to let the true market forces play out to get my client the highest and best price for the house.

What these phishing buyers offer is that they will pay all cash, as is, and close in whatever time frame that works for the home owner. It’s very tempting. It would be rather ideal to be able to sell for cash, as is, and not have to show it to others. But at what price? What is the price of that convenience? Well, I had a chance to find out.

When this house came up for sale the ability to show it was very limited. I will not go into details here, but it made sense to set up 3 open houses over the course of 3 days. This allowed me to have control of the house and to talk to everyone who came through. The house is what is commonly called a “fixer”. It’s in a nice neighborhood. It’s the sort of property that investors are clamoring to find. I knew it would sell quickly. I did my analysis of the price. I looked at what it would be worth fixed up and then subtracted for what I thought it would take to bring it up to at least average condition. Then I found a nearly identical house in the exact same condition, in the neighborhood, on the same size lot. This was gold. This house really set the market value.

Over the course of 3 days we got 6 offers. Two came from the phishing buyers who had expressed interest via letters or other contact after they found it in the public records. 4 came from interested buyers who were working with Realtors. 4 of the offers, including the 2 “phishing” buyers came in between $35,000 to $85,000 below the asking price. 2 offers came in ABOVE the asking price. All 6 offers were all cash, as is, and willing to work with my clients time frame. The buyer in escrow really wants this house, and, in my opinion, is paying fair market value for it. It’s in escrow at more than the asking price.

Ok, every situation is different. I can not promise you that you would experience the same thing. But I do have a very strong conclusion. That is that you should not be tempted by the convenience of unsolicited offers that promise you an all cash deal, as is, unless you are not concerned too much about how much it will sell for. If you want to get more money for the house, I recommend you go after a buyer with those terms who competes for the house in the full market place to get you what the house is really worth.

That’s my 2 cents. Please let me know if you have any questions,
Dianne

Market Activity March 9-15, 2020

I was really excited to do this market activity report. What’s on my mind is also what is on yours, the coronavirus. How is it affecting the real estate market? Well, as of last week, not much. New listings in Lake Oswego numbered 18, pending sales were 16 and closed/sold properties were 10. That’s right in line with what we have been experiencing. This is not to say that the coronavirus will not have an impact, but I like numbers. Numbers are factual. I think the importance of the market activity reports that Linda and I do has increased substantially.

Following is the breakdown for you according to RMLS:

New on the Market (March 9-15, 2020)

Address Type Price BR Baths Sq Ft
3918 Carman Dr Condo $299,900 2 2.5 1107
3101 McNary Parkway #19 Attached $410,000 3 2.5 1894
1001 Hallinan St Detached $549,000 4 2 2580
47 Da Vinci St Detached $599,000 3 2.5 2467
1640 Woodland Terrace Detached $619,900 4 3 2398
4932 Mulholland Dr Attached $712,000 3 2.5 2498
3333 Royce Way Detached $849,900 3 2.5 2896
17668 Woodhurst Pl Detached $899,000 4 2.5 4281
17390 Grand View Ct Detached $999,500 4 4.5+.5 4502
950 Cedar St Detached $1,079,900 4 3.5 3266
1267 Maple St Detached $1,098,000 4 2.5 3388
16 Bernini Ct Detached $1,250,000 6 5 4786
2575 Palisades Crest Dr Detached $1,250,000 4 4.5 5251
16946 Bryant Rd Detached $1,349,000 3 2 1348
18026 Skyland Circle Detached $1,399,000 5 3.5 4117
285 Berwick Rd Detached $1,400,000 3 3.5 2518
15800 Oswego Shore Ct Detached $1,599,000 4 3.5 3995
1101 Crestline Ct Detached $4,568,000 4 4.5+.5+.5 7226

Pending Sales (March 9-15, 2020)

Address Type Price BR Baths Sq Ft CDOM
3868 Botticelli St Condo $249,900 3 2 1224 13
86 Kingsgate Rd Condo $259,900 2 2 938 25
3956 Carman Dr Condo $299,990 2 2.5 1107 17
6207 Harrington Ave Detached $389,000 3 1 960 11
102 Greenridge Ct Attached $424,000 3 2.5 2004 197
19415 Sycamore Ave Detached $450,000 3 2 1584 12
21 Partridge Ln Detached $599,000 5 3 2492 8
3745 Division Ct Detached $599,900 3 2 1390 3
13395 Vermeer Dr Detached $599,980 4 2.5 2461 3
2405 Dellwood Dr Detached $699,000 5 3 2336 6
3781 Tempest Dr Detached $899,900 4 2.5 3927 21
13483 Fielding Rd Detached $899,999 4 3 3149 62
13845 Amberwood Circle Detached $1,089,000 4 3 3283 3
17614 Blue Heron Rd Detached $1,239,000 4 3 3320 2
4484 West Bay Rd Detached $1,250,000 5 2.5 4417 2
401 9th St Detached $1,299,000 4 3.5 4288 21

Sold/Closed (March 9-15, 2020)

Address Type List Price Sold Price Sq Ft CDOM
100 Kerr Parkway #52 Condo $168,950 $125,000 617 110
28 Greenridge Ct Attached $379,000 $340,000 1,642 128
12846 Boones Ferry Rd Condo $389,000 $389,900 1234 107
5057 W Sunset Dr Attached $499,000 $469,500 1720 45
2931 Vale Ct Detached $557,800 $542,000 2311 4
304 6th St Detached $550,000 $545,000 941 89
4933 Mulholland Dr Attached $618,000 $587,000 2403 126
507 Ash St Detached $799,000 $675,000 4666 144
19262 Pilkington Rd Condo $699,900 $699,900 2194 124
1623 Maple St Detached $1,350,000 $1,215,000 4797 183

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 ~ Feb Numbers 2020

Here is your look at the most recent data for the entire Portland area (February 2020) and how Lake Oswego fits in to this picture just below.

Inventory remains low and Buyers are out en force. Interest rates have taken a steep dive and that is fueling this busy season as well. We’ve got increases in every segment (New, Pending & Closed), with Pending & Closed Sales really jumping up from January, and everything up significantly from 2019. Sale Prices are up over Feb 2019, and down a little bit from January. Areas in & around Gresham, Oregon City, Milwaukie/Clackamas, & Hillsboro, are the strongest as far as Appreciation goes.

According to the RMLS Market Action Report for the Portland Metro Area, February 2020:

  • There were 2,759  New Listings in February 2020 which increased 12.9%  from February of 2019’s 2,444, and also increased slightly at 0.2% from the previous month/January’s 2,754.
  • At 1,897, February 2020’s Closed Sales were up 9.9% over February 2019’s 1,726, and also up 14.1% from the previous month/January 2020’s total of 1,663.
  • At 2,598, February 2020’s Pending Sales rose 17.7% over February  2019’s 2,208, and rose 14.4% from the previous month/January 2020’s total of 2,271.
  • The Average Sale Price in February 2020 of $457,900 up $16,800 from last year/February 2019’s $441,100, and came down $5,100 from the previous month/January 2020’s $463,000.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in February 2020 of $407,000 was up from last year/February 2019’s $399,900 by $7,100, and up $1,000 from the previous month/January 2020’s $406,000.   

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

  • North Portland:  $407,900              0.8%   (Jan $392,900)
    •                                                     YTD Median: $385,000
  • NE Portland:  $482,200                   2.5%   (Jan $483,100)
    •                                                     YTD Median: $410,000
  • SE Portland:  $424,700                   1.1%   (Jan $427,000)
    •                                                     YTD Median: $370,200
  • Gresham/Troutdale:   $376,600     5.4%   (Jan $363,700)
    •                                                     YTD Median: $356,000
  • Milwaukie/Clackamas:  $443,700  4.3%   (Jan $451,300 )
    •                                                     YTD Median: $424,000
  • Oregon City/Canby:   $448,600      4.8%   (Jan $449,300)
    •                                                     YTD Median: $433,600
  • Lake Oswego/West Linn:$705,100  2.8%  (Jan $712,600)
    •                                                      YTD Median: $585,000
  • West Portland:    $581,600             -1.8%  (Jan $601,000 )
    •                                                     YTD Median: $510,000
  • NW Wash County:  $510,400         -1.2%   (Jan $498,000)
    •                                                      YTD Median: $460,000
  • Beaverton/Aloha:     $412,800       2.6%   (Jan $414,500)
    •                                                     YTD Median: $400,000
  • Tigard/Wilsonville:   $485,600        0.9%   (Jan $507,100)
    •                                                      YTD Median: $455,000
  • Hillsboro/Forest Grove: $414,200  5.8%   (Jan $419,500)
    •                                                      YTD Median: $394,300

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of February 2020 reported:

    •  226 Active Listings  (Jan 217)
    •  151 New Listings     (Jan 153)
    •  119 Pending Sales   (Jan 106)
    •   72 Closed Sales       (Jan   72)
    • Average Sale Price for February: $705,100  (Jan $712,600)
      • 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.
    •   86 Average Days on the Market   (Jan 117)

 

Market Activity ~ March 2-8, 2020

Lots of Buyers are out there making Offers. Last week in Lake Oswego, 12 New properties entered the market, 23 moved to Pending status, and 9 were “Closed”/Sold. We also have 149 homes for sale here, right now.

Following is the breakdown for you according to RMLS:

NEW on Mkt (March 2-8, 2020)

Address List Price # Beds # Baths Total SF Prop Type
86 KINGSGATE RD H104 $224,900 2 2 840 CONDO
16250 PACIFIC HWYn #77 $365,000 2 2 1327 CONDO
19415 SYCAMORE AVE $450,000 3 2 1584 DETACHD
2102 WEMBLEY PARK RD $699,900 3 2 1592 DETACHD
19681 PERCH CT $923,000 4 3 3307 DETACHD
390 9th ST $949,000 4 2.1 2023 DETACHD
19305 HILL TOP RD $1,375,000 4 3.1 5116 DETACHD
16653 FIR LN $1,438,000 4 3.1 3957 DETACHD
13594 Goodall RD $1,669,000 4 4.1 3732 DETACHD
19025 HILL TOP RD $2,349,500 5 4.1 5366 DETACHD
18420 OLD RIVER LNDG $2,890,000 5 3.1 6164 DETACHD
18060 EASTRIDGE LN $2,995,000 4 5.1 5111 DETACHD

PENDING SALES (March 2-8, 2020)

Address List Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #52 $152,000 1 1 617 CONDO 110
107 OSWEGO SMT/Grnd $209,900 2 1.1 1116 CONDO 158
40 CERVANTES CIR $210,000 2 1.1 912 CONDO 3
48 EAGLE CREST DR #1B $295,000 3 2 1623 CONDO 172
16870 CORTEZ CT $449,900 3 2 1800 DETACHD 2
3351 FIR RIDGE RD $499,000 3 2 1750 DETACHD 159
1 EL GRECO ST $499,900 4 2.1 2296 DETACHD 3
17561 LAKE HAVEN DR $500,000 2 1 1100 DETACHD 0
5135 Tualata LN $525,000 4 2 1534 DETACHD 4
1610 ASH ST $575,000 3 2 2181 DETACHD 3
100 LEONARD ST #3-4 $599,000 3 2 1736 CONDO 127
1 PREAKNESS CT $645,000 4 3 2373 DETACHD 6
15213 CANDLEWOOD CT $700,000 4 2.1 2670 DETACHD 13
2679 GLEN EAGLES RD $779,000 3 3 2378 DETACHD 12
19505 OLSON AVE $842,700 5 2.1 3022 DETACHD 5
1535 Pine Street $879,900 3 2.1 2390 DETACHD 0
2535 GLENMORRIE DR $899,900 4 3 3134 DETACHD 22
1317 LAUREL ST $899,900 4 2.1 2259 DETACHD 6
22 DOVER WAY $900,000 4 2.1 3335 DETACHD 0
1560 CHERRY CREST DR $909,000 3 3 3334 DETACHD 3
4070 VIRGINIA WAY $915,000 3 2.1 3501 DETACHD 2
533 WEIDMAN CT $992,500 4 3.1 4092 DETACHD 122
15628 QUARRY RD $1,249,000 4 3.1 3074 DETACHD 0

SOLD (March 2-8, 2020)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #56 $205,000 $190,000 3 1 1024 CONDO 207
4 THE GROTTO $419,000 $410,000 3 2.1 1534 DETACHD 256
14446 HOLLY SPRINGS RD $529,900 $529,900 3 2.1 1699 CONDO 302
17291 CEDAR RD $617,000 $585,000 6 3 2872 DETACHD 228
4045 BASS LN $610,000 $604,000 4 2.1 2158 DETACHD 137
950 SCHUKART LN $1,100,000 $1,100,000 5 2.1 3530 DETACHD 0
717 5TH ST $1,279,950 $1,274,950 4 2.1 2809 DETACHD 3
305 CHANDLER PL $1,400,000 $1,400,000 6 4 3390 DETACHD 1
162 BERWICK RD $2,199,900 $2,213,423 4 4.1 4227 DETACHD 80

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.

Market Activity Feb 24-Mar 1, 2020

As spring approaches, the inventory is picking up. Last week in Lake Oswego we had 18 houses come onto the market, 15 that moved into pending status, and 12 closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (Feb 24-Mar 1, 2020)

Address Type Price BR Baths Sq Ft
3868 Botticelli St Condo $174,900 3 2 1224
3956 Carman Dr Condo $299,990 2 2.5 1107
6207 Harrington Ave Detached $389,000 3 1 960
19 Bloch Terrace Attached $425,000 2 2 1527
1400 Parrish St Condo $460,000 3 2.5 1863
14799 Uplands Dr Detached $724,900 4 2 2150
19505 Olson Ave Detached $842,700 5 2.5 3022
17879 Hillside Dr Detached $849,999 3 3 3149
1511 Pine Detached $879,900 3 2.5 2390
1523 Pine Detached $879,900 3 2.5 2390
1317 Laurel St Detached $899,900 4 2.5 2259
727 Laurel St Detached $985,000 3 3.5 3365
1061 Chandler Rd Detached $990,000 4 3 2879
54 Wilbur St Condo $1,297,000 3 3.5 3600
13156 Thoma Rd Detached $1,449,000 5 3.5 3494
3040 Stonebridge Way Detached $1,590,000 4 4.5 5829
610 4th St Detached $1,650,000 4 2.5 3394
2101 Goodall Ct Detached $2,249,000 4 4.5 4058

Pending Sales (Feb 24-Mar 1, 2020)

Address Type Price BR Baths Sq Ft CDOM
13 Oswego Summit Condo $178,000 1 1 764 16
45 Eagle Crest Dr #200 Condo $265,000 3 2 1348 44
4268 Woodside Circle Attached $365,000 4 2 1944 296
750 1st St B-3 Condo $395,000 2 2 1546 7
7 Partridge Ln Detached $550,000 3 3 2264 4
28 Tanglewood Dr Detached $575,000 4 2.5 2282 8
5063 Greensborough Ct Detached $575,000 3 2.5 1647 2
2415 Glen Haven Rd Detached $584,950 5 3 2614 8
1031 Laurel St Detached $619,900 4 2 2426 6
308 4th St Attached $625,000 2 2.5 1731 90
5533 Kenny St Detached $799,000 4 3 2900 5
16792 Quail Ct Detached $900,000 4 2.5 3222 6
14536 Pfeifer Dr Detached $1,495,000 4 3.5 3957 4
13217 Amber Pl #1 Detached $1,650,000 4 3.5 3861 6
1164 Crestline Ct Detached $2,495,000 5 4.5+.5 6800 21

Sold/Closed (Feb 24-Mar 1, 2020)

Address Type List Price Sold Price Sq Ft CDOM
1408 Cedar St Detached $425,000 $400,000 1104 1
6014 Seville Ave Detached $519,900 $515,000 1,882 3
6010 Burma Rd Detached $549,000 $549,000 1260 12
5207 Rosewood St Detached $559,900 $557,500 1438 5
1981 Summit Dr Detached $579,000 $578,000 2189 4
4911 Parkhill St Detached $599,900 $611,200 2132 5
76 Greenridge Ct Attached $650,000 $639,000 2868 25
14865 Twin Fir Ct Detached $949,500 $770,000 3161 256
4092 Orchard Way Detached $835,000 $810,000 3591 140
15203 Lily Bay Ct Detached $894,900 $850,000 3219 229
1405 Country Commons Ln Detached $1,200,000 $1,050,000 4083 142
1692 Village Park Ln Detached $1,198,000 $1,160,000 3581 171

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.

Listing Your Property

Hey everybody!  Its a privilege to be able to coalesce around this town we all love so much and bring you great real estate & local Lake Oswego content.

March is the month I often recommend to my clients interested in listing their homes at the best time. Weather is starting to get sunnier, flowers are starting to bloom, and though it started earlier this year, people start to get out in earnest if they want to buy a house or condo this year. So, if you’re thinking of getting your home on the market, this time of year gives you a few months of high season (things start to taper off after July 4th when a lot of people take the fam off on vacations to other locales).

If this is you, here are a few items to tick off your list:

  • Realtor~ Engage an energetic, experienced and skilled Real Estate Broker.  I’m partial to Dianne and myself, so you can always call either of us (!!) and/but make sure you find someone you enjoy being with and trust, then strongly consider their advice all along the way. A Realtor who really understands your neighborhood and how to price & market in your niche is key. They are there to help you achieve your goal, and that’s what they’ll do if y’all remain committed to the goal and making good decisions all along the way.
  • Cosmetic Prep~ Obviously you want to clean up your home. Polish and shine it… dress it in its cozy-but-sparse finery. Enlist your Realtor for staging tips and or help in that regard. Think of getting things packed up and maybe start stacking some boxes in the garage… you’re going to be moving soon, so might as well get a head-start. Rooms look bigger with less, and folks can imagine themselves in your home as their own if you have a warm but open & clean feel to your rooms. Lawns mowed, shrubbery trimmed, drive and walkways pressure-washed…  Your Realtor will give you tips specifically catered to your property.
  • Repairs~ No home is perfect.  You should talk to your Realtor about any known “issues”. Some things can be left to see what the Buyer may want to do about them, others might be advisable to just take care of prior to listing. Your Realtor will be able to advise you what likely falls into which category and give you options on how certain items can be addressed. They will also likely have some great resources for you when you need a good contractor to get the job done right.  Some people choose to have a home inspection done prior to listing just to be in the know about everything- Be advised that this can be a great tool if you plan to address everything that comes up in the report prior to listing (that’s a good idea anyway). That inspection report WILL be a “Disclosure”, however, and handed to any Buyer who comes in good faith.  It can be a good marketing tool to be able to hand that report to a Buyer and tell them that the issues contained therein have been remedied.  If the prospect of this makes you nervous, know that a Buyer will almost always have their own inspection done anyway, and if you’ve familiarized yourself with your own home and disclosed everything you know about it, the items that come up and that a Buyer *may* choose to ask you to address will probably not be a surprise. There is a negotiation period where items of concern to a Buyer can be worked through and resolved either monetarily, by repairing prior to Close, or by the Buyer deciding to proceed and take on those items themselves. Its all very specific to the individual home, issues and people involved. ……..Which is another reason you need a good Realtor.
  • Setting Expectations~ Your Realtor will  discuss how life will be once your property goes on the market.  You have choices- times for showings (9-6? 7-7? Remember: people work). You can have all calls or texts to schedule showings go to your Realtor or you can take those calls/texts yourself & handle it more directly. If you have a pet, some thought need to be given to that. You can expect that you’ll be inconvenienced a bit, and on the first weekend I usually recommend a nice, short trip to the coast, or somewhere you love. That way you’re not bothered by people wanting you to leave for a 1/2 hour or so at a time on your weekend, and Buyers & Agents then have easy access to showing your home (***This is the best recipe for getting the most potential Buyers to consider yours). My aim is always to get the home sold that first week, and though market conditions have made that not as common as in past years, in this current hot market and time of year its happening more often. That said, depending on the price you’ve decided on with your Realtor’s help, and other conditions/factors particular to the house or condo that may reduce your Buyer pool, you could possibly be in for a wait for “The One”.  Just know that your sale will happen, and try to think of these intrusions as opportunities to share how amazing your beautiful home is with each potential Buyer.

After all….  You are on to new adventures!