Ok, things are starting to get interesting- Lake Oswego saw 29 new properties hit the market last week (these are properties that are brand new on the market -or- have been off the market for a minimum of 30 days). All told, there were 45 that are either truly new, or have been “freshened” showing as new listings. (Dianne and I will have plenty to see on tour tomorrow!) We had 7 go pending, and 6 that closed, so sales remain steady for now at this rate.
The headlines read: “Mortgage Rates Drop to Record Lows”. According to Bankrate.com, the benchmark 30-year fixed-rate mortgage has dropped 6 basis points to 5.13%. The benchmark 15-year, fixed-rate mortgage fell 7 basis points to 4.73%. Mortgage rate applications are up, and many are taking advantage of the 2009 $8,000. tax credit for first time buyers. (Click here for more info from the NAR.)
We can expect to see these factors start to significantly affect market activity. The rise in the number of new listings appears to indicate renewed confidence along with seasonal upswing, and consistent sales activity likely indicates pent-up demand starting to surface, as you’d expect with the incentives of low rates and plentiful options.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (March 30—April 5, 2009)
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date |
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date |
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date |
| 47 EAGLE CREST DR | $132,900 | 2 | 1 | 932 | CONDO | 4/2/2009 |
| 86 KINGSGATE RD | $155,000 | 2 | 2 | 849 | CONDO | 4/2/2009 |
| 86 KINGSGATE RD | $159,900 | 2 | 2 | 924 | CONDO | 4/3/2009 |
| 86 KINGSGATE RD | $169,000 | 2 | 2 | 849 | CONDO | 3/31/2009 |
| 165 OSWEGO SMT | $199,900 | 2 | 2 | 1,383 | CONDO | 4/3/2009 |
| 4230 COLLINS WAY | $289,000 | 3 | 2 | 1,512 | DETACHD | 4/1/2009 |
| 4465 GOLDEN LN | $299,900 | 2 | 2.1 | 1,980 | CONDO | 4/2/2009 |
| 6025 SW CARMAN DR | $299,900 | 3 | 1.1 | 1,346 | DETACHD | 4/5/2009 |
| 18929 TERRY AVE | $374,950 | 4 | 2 | 2,065 | DETACHD | 3/30/2009 |
| 19060 INDIAN SPRINGS CIR | $399,900 | 3 | 2 | 1,525 | DETACHD | 4/1/2009 |
| 37 BERWICK RD | $425,000 | 5 | 2 | 2,198 | DETACHD | 3/30/2009 |
| 13470 PETERS RD | $474,900 | 3 | 2.1 | 2,324 | ATTACHD | 4/1/2009 |
| 2650 DELLWOOD DR | $499,000 | 4 | 3 | 3,238 | DETACHD | 4/1/2009 |
| 161 C AVE | $549,900 | 2 | 2.1 | 1,719 | ATTACHD | 4/1/2009 |
| 6110 CHILDS RD | $550,000 | 4 | 3 | 3,258 | DETACHD | 4/1/2009 |
| 400 LAKE BAY CT | $579,900 | 3 | 2.1 | 1,680 | DETACHD | 4/1/2009 |
| 2830 PARK RD | $625,000 | 4 | 3.1 | 3,116 | DETACHD | 3/31/2009 |
| 2188 OVERLOOK DR | $639,900 | 4 | 2.1 | 2,618 | DETACHD | 3/30/2009 |
| 246 GREENWOOD RD | $674,900 | 3 | 3 | 2,125 | DETACHD | 4/1/2009 |
| 15671 VILLAGE DR | $724,000 | 3 | 2.1 | 3,390 | DETACHD | 4/2/2009 |
| 16616 LAKE FOREST BLVD | $750,000 | 4 | 2.1 | 3,314 | DETACHD | 4/1/2009 |
| 15543 VILLAGE DR | $799,000 | 4 | 2.1 | 3,081 | DETACHD | 3/31/2009 |
| 17215 LOWENBERG TER | $850,000 | 4 | 2.1 | 2,819 | DETACHD | 4/2/2009 |
| 13711 FIELDING RD | 789000 – 898876 | 3 | 4 | 4,649 | DETACHD | 3/30/2009 |
| 511 6TH ST | $988,000 | 5 | 3.1 | 4,000 | DETACHD | 4/2/2009 |
| 917 Evergreen ST | $1,000,000 | 4 | 3.1 | 2,700 | DETACHD | 3/30/2009 |
| 17960 SARAH HILL LN | $1,179,000 | 5 | 3.1 | 4,800 | DETACHD | 4/1/2009 |
| 1099 TROON RD | $1,250,000 | 5 | 3.1 | 3,938 | DETACHD | 3/30/2009 |
| 13371 ATWATER LN | $1,299,900 | 4 | 3 | 4,795 | DETACHD | 4/5/2009 |
PENDING SALES (March 30—April 5, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQFT
|
PROP TYPE |
DOM
|
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date | CDOM |
| Address | List Price | # Beds | # Baths | Tot. SF | Prop Type | List Date | CDOM |
| 3844 BOTTICELLI ST | $219,900 | 2 | 2 | 1,132 | CONDO | 3/31/2009 | 5 |
| 18307 LONGFELLOW AVE | $329,900 | 3 | 2 | 1,457 | DETACHD | 8/23/2008 | 222 |
| 785 5TH ST | $399,900 | 3 | 2 | 2,208 | DETACHD | 11/18/2008 | 132 |
| 13581 GOODALL RD | $550,000 | 3 | 2 | 1,220 | DETACHD | 10/10/2008 | 575 |
| 5772 BAY CREEK DR | $574,500 | 4 | 3 | 3,242 | DETACHD | 2/5/2009 | 58 |
| 12611 BOONES FERRY RD | $599,900 | 5 | 3.1 | 4,042 | DETACHD | 2/17/2009 | 142 |
| 2900 WEMBLEY PARK RD | $697,000 | 4 | 2.1 | 3,383 | DETACHD | 3/31/2009 | 4 |
SOLD (March 30—April 5, 2009)
| ADDRESS | ORIG. PRICE | SALE PRICE |
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | Orig Price | Sale Price | # Beds | # Baths | Tot. SF | Prop Type | List Date | CDOM |
| Address | O/Price | Close Price | # Beds | # Baths | Tot. SF | Prop Type | CDOM |
| 4 TOUCHSTONE | $129,900 | $125,000 | 2 | 2 | 979 | CONDO | 192 |
| 4470 CHAPMAN WAY | $380,000 | $310,000 | 3 | 3 | 2,125 | DETACHD | 188 |
| 2800 WEMBLEY PARK RD | $374,500 | $342,000 | 3 | 2 | 1,575 | DETACHD | 10 |
| 1228 HALLINAN CIR | $389,000 | $375,000 | 4 | 2 | 1,932 | DETACHD | 7 |
| 625 CLARA CT | $587,500 | $542,000 | 3 | 2.1 | 2,532 | DETACHD | 297 |
| 13222 DEERFIELD CT | $649,000 | $600,000 | 4 | 2.1 | 3,022 | DETACHD | 331 |
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. CDOM stands for cumulative days on market, which includes any re-listing and measures from the initial listing date.
It was a year or so ago, I think, that I wrote a piece on Lake Oswego and its love affair with trees. I included all manner of information on laws in Lake Oswego limiting tree removal etc. This love of trees is a large part of what makes Lake Oswego so beautiful, and so, like the rain, we take the good with the bad and appreciate the end results of being showered with tree legislation.
Stewardship Event
Arbor Art Show Opening