Market Activity ~ June 3-9, 2013

Last week there were 27 New properties entering the market, 30 moving to Pending status, and 13 that “Closed”/Sold.
Here is the breakdown of activity according to RMLS:

NEW SALES (June 3-9, 2013):

Address List Price # Beds # Baths Total SF Prop Type
36 OSWEGO SUMMIT $139,900 2 2 1140 CONDO
4 TOUCHSTONE #147 $165,000 3 2.1 1351 CONDO
5836 SW LAKEVIEW CT $195,000 3 1 1296 DETACHD
6053 FERNBROOK ST $317,900 3 1 912 DETACHD
908 CUMBERLAND PL $449,500 4 3 2715 DETACHD
13008 ROGERS RD $499,000 4 2.1 2448 DETACHD
10 JUAREZ ST $525,000 3 2.1 3740 DETACHD
2195 GLENMORRIE LN $534,900 3 2 2461 DETACHD
17730 MARYLBROOK DR $539,000 3 2.1 2951 DETACHD
134 DEL PRADO ST $569,000 5 3 3600 DETACHD
5 ABELARD ST $569,000 4 3 4660 DETACHD
11 TANGLEWOOD DR $578,950 4 3 3148 DETACHD
14130 GABRIELLE CT $589,000 4 2.1 2877 DETACHD
1015 SOUTHSHORE BLVD $650,000 4 3 3882 DETACHD
5710 CHARLES CIR $668,000 4 2.1 3061 DETACHD
18217 DELENKA LN $689,000 4 3 4171 DETACHD
5960 CLAIRMONT CT $715,000 4 2.1 3000 DETACHD
3015 ROYCE WAY $719,000 5 3.1 4081 DETACHD
639 CARRERA LN $979,000 5 3.1 4305 DETACHD
235 FURNACE ST $1,150,000 4 3.1 4042 DETACHD
1221 FOREST MEADOWS WAY $1,200,000 3 3 4150 DETACHD
17323 BERGIS FARM DR $1,280,000 4 3.2 4297 DETACHD
15567 VILLAGE DR $1,295,000 4 4 5247 DETACHD
853 D AVE $1,350,000 4 3.1 4710 DETACHD
18820 GREENBLUFF DR $1,375,000 4 4.1 5382 DETACHD
4153 WESTBAY RD $1,425,000 4 3.1 3374 DETACHD
1793 ATHERTON DR $1,595,000 4 5 6500 DETACHD

PENDING SALES (June 3-9, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
52 OSWEGO SMT $59,900 1 1 700 CONDO 82
44 EAGLE CREST DR #17 $70,000 1 1 798 CONDO 10
200 BURNHAM RD #104 $115,000 1 1 858 CONDO 56
206 CERVANTES $139,000 2 1.1 890 CONDO 1
15472 BRIANNE CT $239,000 2 2.1 1208 ATTACHD 50
4302 BOTTICELLI ST #2 $239,000 3 3.1 2298 CONDO 21
8 WHEATHERSTONE $309,000 3 2.1 1692 CONDO 2
3686 Lake Grove AVE $319,900 3 2 1300 DETACHD 352
19135 REDWING CT $320,000 4 2 1326 DETACHD 4
17380 MARJORIE AVE $359,000 4 2 1810 DETACHD 6
534 2ND ST $375,000 2 2.1 1394 CONDO 5
14414 ORCHARD SPRINGS RD $379,900 4 2.1 1890 DETACHD 72
5915 BURMA RD $379,900 5 3 3891 DETACHD 20
18357 HEATHER ANN CT $399,900 3 2 1832 DETACHD 58
342 LIVINGOOD LN $400,000 4 2.1 2384 DETACHD 5
1550 BEDFORD CT $409,900 2 2.1 2359 DETACHD 4
3140 ROYCE WAY $429,900 3 2 1923 DETACHD 2
805 HEMLOCK ST $474,900 4 3 2491 DETACHD 34
17742 MARYLCREEK DR $475,000 4 2.1 2494 DETACHD 4
2011 RIDGEWOOD LN $549,000 5 3.1 3012 DETACHD 23
12994 SIERRA VISTA DR $564,500 4 3.1 3824 DETACHD 430
18255 TAMAWAY DR $649,000 4 2.1 3457 DETACHD 28
12442 SW 22ND AVE $773,750 4 3.1 3834 DETACHD 3
5507 BAY CREEK DR $799,900 5 3.1 3900 DETACHD 7
215 CHANDLER PL $875,000 3 2.1 3118 DETACHD 24
17903 UPPER CHERRY LN $924,000 4 2.1 3912 DETACHD 18
16545 MAPLE CIR $1,395,000 3 3.1 3800 DETACHD 233
16743 GRAEF CIR $1,495,000 4 2.1 3772 DETACHD 362
1607 LAKE FRONT RD $1,649,000 4 4 4012 DETACHD 376
910 NORTHSHORE RD $3,595,000 4 6.1 5203 DETACHD 366

SOLD (June 3-9, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4000 CARMAN DR #23 $109,000 $105,500 2 2 866 CONDO 2
218 RIDGEWAY RD $110,000 $135,000 2 1 914 CONDO 415
1240 CEDAR ST $244,900 $246,000 3 1 1044 DETACHD 2
1330 HEMLOCK ST $285,000 $296,000 3 1 2730 DETACHD 49
5686 WASHINGTON CT $290,000 $310,000 2 2 1342 DETACHD 9
15442 PARTRIDGE DR $329,900 $335,000 4 2.1 2100 DETACHD 42
497 LIVINGOOD LN $390,000 $350,000 3 2.1 2144 DETACHD 87
13242 VERMEER DR $408,000 $412,000 3 2.1 2100 DETACHD 8
15939 TWIN FIR RD $499,900 $475,000 3 2 2480 DETACHD 483
828 ELLIS AVE $599,000 $599,000 3 2 2145 DETACHD 1
5678 CHARLES CIR $675,000 $645,000 4 4 3485 DETACHD 0
2400 CHILDS RD $839,900 $825,000 3 2.1 3400 DETACHD 14
4398 Lakeview BLVD $1,650,000 $1,650,000 3 3.1 3309 DETACHD 0

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 ~ May 20-26, 2013

Last week there were 18 New properties entering the market, 21 moving to Pending status, and 10 that “Closed”/Sold.
Here is the breakdown of activity according to RMLS:

NEW SALES (May 20-26, 2013):

Address List Price # Beds # Baths Total SF Prop Type
44 EAGLE CREST DR #17 $70,000 1 1 798 CONDO
15471 BRIANNE CT $225,000 2 2.1 1204 ATTACHD
12826 BOONES FERRY RD $269,900 2 2.1 1398 CONDO
16291 LAKE FOREST BLVD $269,950 2 1 762 DETACHD
730 SW BRIERCLIFF LN $465,000 5 3 3275 DETACHD
16976 CHERRY CREST DR $510,000 4 2.1 2655 DETACHD
4078 MELISSA DR $535,000 4 2.1 2691 DETACHD
628 LAKE BAY CT $639,000 3 2 1729 DETACHD
1222 TIMBERLINE DR $649,900 4 3 3256 DETACHD
5780 CHILDS RD $669,000 5 2 2770 DETACHD
17920 SARAH HILL LN $789,900 4 3 2459 DETACHD
2719 RIVENDELL RD $799,000 4 2.1 3554 DETACHD
17903 UPPER CHERRY LN $924,000 4 2.1 3912 DETACHD
18187 SIENA DR $978,950 4 3.1 3745 DETACHD
618 ATWATER RD $995,000 6 3.2 5139 DETACHD
616 ATWATER RD $1,050,000 4 3.1 5558 DETACHD
1131 NORTHSHORE RD $1,280,000 4 3 3850 DETACHD
199 FURNACE ST -Upper $1,950,000 3 3.1 5772 CONDO

PENDING SALES (May 20-26, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE DR #46 $108,000 2 2 979 CONDO 15
572 S STATE ST $144,921 2 1 914 CONDO 82
10 WALKING WOODS DR $285,000 3 2.1 2194 DETACHD 602
19060 INDIAN SPRINGS CIR $349,900 3 2 1355 DETACHD 47
886 9TH ST $360,000 2 1 860 DETACHD 2
5745 SW WINDFIELD LOOP $369,900 3 2.1 1885 DETACHD 12
1129 CHERRY LN $379,900 4 2.1 2421 DETACHD 10
1257 HALLINAN CIR $385,000 4 2.1 2548 DETACHD 24
1745 MAPLELEAF RD $389,900 3 2 1518 DETACHD 6
9 MASARYK ST $415,000 3 3 2692 DETACHD 66
16147 LAKE FOREST BLVD $459,500 4 3 2889 DETACHD 11
343 3RD ST $469,500 3 3.1 1959 ATTACHD 8
12 MONTICELLO DR $499,000 4 2.1 3658 DETACHD 7
20 CELLINI CT $594,000 4 3 2876 DETACHD 4
4137 ORCHARD WAY $599,900 5 2.1 3329 DETACHD 39
5678 CHARLES CIR $675,000 4 4 3485 DETACHD 0
557 2nd ST #205 $680,000 2 2.1 1833 CONDO 63
13624 PROVINCIAL HILL WAY $699,900 4 2.1 3704 DETACHD 284
5384 WASHINGTON CT $699,900 4 3.1 3228 DETACHD 43
17485 BROOKHURST DR $749,500 4 3.1 4550 DETACHD 37
17340 CARDINAL DR $865,000 4 3 3417 DETACHD 120

SOLD (May 20-26, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
66 OSWEGO SMT $74,900 $69,900 1 1 764 CONDO 12
206 OSWEGO SMT $200,000 $160,000 2 2 1506 CONDO 71
18917 REDWING WAY $324,900 $330,000 3 1.1 1440 DETACHD 3
5753 WINDFIELD LOOP $330,000 $335,000 3 2 1503 DETACHD 3
3192 DUNCAN DR $429,900 $385,000 5 2.1 3139 DETACHD 406
18123 WESTVIEW DR $459,000 $466,500 3 2.1 2608 DETACHD 11
5498 ROYAL OAKS DR $550,000 $550,000 4 2.1 2646 DETACHD 13
17065 Tualatin ST $578,950 $578,000 3 2.1 2733 DETACHD
19310 RIVERWOOD LN Lt9W $639,900 $625,000 5 4 3110 DETACHD 99
17337 BERGIS FARM DR $1,300,000 $1,290,000 4 3.2 4810 DETACHD 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

LO Open Houses ~ May 26, 2-13

Enjoy your Memorial Day Weekend…. Here are 13 homes that will be held Open on Sunday:

Address L/Price # Beds # Baths Total SF Open
5056 FOOTHILLS DR #D $259,000 2 2 1252 1-3PM
12826 BOONES FERRY RD $269,900 2 2.1 1398 1-3PM
5895 BURMA RD $334,900 4 2.1 1781 1-4PM
8 HOTSPUR ST $440,000 3 2.1 1954 1-4PM
14371 SHERBROOK PL $467,500 3 2.1 2550 1-3PM
6 JUAREZ ST $579,000 4 3.1 3865 1-3PM
4102 CHAD DR $614,950 4 2.1 2987 1-3PM
19201 MAREE CT $699,000 5 2.1 4070 12:30-2:30PM
1541 MAPLE ST $699,900 4 4 3215 12-2PM
17903 UPPER CHERRY LN $924,000 4 2.1 3912 2-4PM
5320 CHILDS RD $989,300 5 3 4539 1-3PM
18520 DELENKA LN $1,299,000 4 4 5986 1:30-4PM
112 NORTHSHORE CIR $1,585,000 3 3.1 3632 11AM-4PM

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) activity:

Someone flipped a switch around mid-late December, and it’s been nothing but “up” for the Portland real estate market ever since!  You’ve probably noticed, (unless it’s just the circles I run in : ) it’s been the topic on everyone’s lips for months… and doesn’t appear to show signs of slowing down or giving up the spotlight any time soon.

According to the RMLS Market Action Report for the Portland Metro Area April, 2013:

  • At 2,125, Closed Sales were a 9.8% increase over March, and a 16.6% increase over April of 2012.
  • There were 3,623 New Listings, which is an increase of 20.7% over March 2013.
  • The Average Sale Price in April was $302,600, up from $299,000 in March 2013.
  • Pending Sales (accepted offers) increased from March 2013 by 11.9% to 2,942.

For our Property Blotter readers, the combined area of Lake Oswego and West Linn also reported fantastic numbers:

    • 466 Active Listings
    • 252 New Listings
    • 160 Pending Sales
    • 113 Closed Sales
    • An average Sale Price of $448,600.
    • Average Time on the Market: 118 Days

Market Activity ~ May 6-12, 2013

FamilyI think Dianne said it best last week…. real estate has become fun again! People are pursuing their dreams… upsizing, downsizing, moving closer to work, getting that backyard gardening space or that basement they’ve always wanted… and getting that interest rate they’ve always wanted too! : ) It’s really fun for us to be a part of helping those things to happen. Not that there aren’t challenges, and people still fighting through those (we like helping these people too), but the general market “feeling” is on the upswing.

Last week there were 20 New properties going on the market in Lake Oswego, 27 that went to Pending status, and 16 that Sold/Closed.

Here are further details regarding last week’s Market Activity according to RMLS:

NEW SALES (May 6-12, 2013):

Address List Price # Beds # Baths Total SF Prop Type
4 TOUCHSTONE DR #146 $108,000 2 2 979 CONDO
11 Oswego Summit #11 $149,000 2 2 1212 CONDO
88 KINGSGATE RD $299,500 3 2.1 1675 DETACHD
18410 INDIAN CREEK DR $324,000 4 2 1739 DETACHD
85 LAUREL ST $360,000 4 3 2820 DETACHD
5745 SW WINDFIELD LOOP $369,900 3 2.1 1885 DETACHD
31 NOVA CT $423,000 4 2.1 2106 DETACHD
42 SPINOSA $439,900 3 2.1 2056 DETACHD
16147 LAKE FOREST BLVD $459,500 4 3 2889 DETACHD
15 SPINOSA $459,900 3 3 2300 DETACHD
18207 WESTMINSTER DR $489,000 4 2.1 2258 DETACHD
2250 PARK RD $554,000 3 2 2041 DETACHD
15988 WHITE OAKS DR $575,000 4 2.1 2854 DETACHD
6 JUAREZ ST $579,000 4 3.1 3865 DETACHD
5880 MEADOWCREEK CT $625,000 3 2.1 2905 DETACHD
18255 TAMAWAY DR $649,000 4 2.1 3457 DETACHD
1941 WOODLAND TER $699,000 4 3 3684 DETACHD
19233 INDIAN SPRINGS RD $769,900 4 4.1 3423 DETACHD
1505 LAKE FRONT RD $2,250,000 4 3.1 4927 DETACHD
13599 Knaus RD $2,699,000 5 7 6874 DETACHD

PENDING SALES (May 6-12, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
668 MCVEY AVE #44 $104,900 1 1 636 CONDO 230
4000 CARMAN DR #71 $120,000 2 2 834 CONDO 1
750 1ST ST D24 $165,000 2 2 1350 CONDO 335
1755 KILKENNY RD $275,000 3 1 1725 DETACHD 10
1330 HEMLOCK ST $285,000 3 1 2730 DETACHD 49
1425 GREENTREE CIR $339,000 3 2 1809 DETACHD 8
4664 FIRWOOD RD $349,900 3 2 1665 DETACHD 2
6109 SW BURMA RD $349,900 3 2 1318 DETACHD 187
536 2ND ST $379,000 2 2.1 1394 CONDO 13
1257 HALLINAN CIR $385,000 4 2.1 2548 DETACHD 9
17866 LAKE HAVEN DR $410,000 4 2.1 2078 DETACHD 3
15540 PARTRIDGE DR $419,900 4 3 2203 DETACHD 14
1407 GREENTREE CIR $439,000 4 2.1 2201 DETACHD 8
1952 PARK FOREST AVE $444,900 5 3 2856 DETACHD 28
14520 RAINBOW DR $445,500 4 2 2405 DETACHD 49
3600 UPPER DR $469,900 4 2 2755 DETACHD 1
1525 MAPLE ST $489,000 4 3 2800 DETACHD 5
13276 DEERFIELD CT $499,000 4 2.1 3066 DETACHD 60
2464 MARYLHAVEN PL $529,900 4 2.1 2898 DETACHD 99
12723 ADRIAN CT $559,950 4 3 3219 DETACHD 35
32 HILLSHIRE DR $589,900 4 2.1 3605 DETACHD 68
135 MIDDLECREST RD $599,000 3 2.1 2882 DETACHD 302
14120 REDWOOD CT $619,000 4 2.1 2755 DETACHD 88
2002 CEDAR CT $659,000 3 2 2945 DETACHD 20
2643 SW RIVENDELL RD $727,000 5 3.1 3466 DETACHD 4
17625 WOODHURST PL $949,000 4 4.1 4197 DETACHD 206
17152 CEDAR RD $1,197,500 4 2.1 3034 DETACHD 35

SOLD (May 6-12, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
5813 SW KENNYCROFT WAY $222,000 $208,000 3 1 1182 DETACHD 3
21 GREENRIDGE CT $260,000 $250,000 3 1.1 1815 CONDO 141
16232 BONAIRE AVE $279,900 $280,000 4 2.1 1792 DETACHD 17
821 EVERGREEN RD $394,900 $401,972 2 1 920 DETACHD 10
14221 DOLPH CT $465,000 $463,000 3 2.1 2100 DETACHD 2
13437 PROVINCIAL HILL WAY $579,900 $565,000 4 2.1 2833 DETACHD 38
318 NORTHSHORE RD $575,000 $575,000 3 2.1 2735 DETACHD 1
2960 WEMBLEY PARK RD $695,000 $660,000 4 2.1 2000 DETACHD 252
3315 CEDAR CT $744,000 $730,000 4 3.1 3712 DETACHD 46
4190 CHAD DR $749,500 $749,500 4 3.1 3756 DETACHD 18
1301 HORSESHOE CURV $795,000 $825,000 3 3 2060 DETACHD 3
3115 Wembley Park RD $895,000 $870,000 4 3.1 3600 DETACHD 523
17642 UPPER CHERRY LN $1,085,000 $949,000 4 3.1 3806 DETACHD 561
17225 KELOK RD $1,195,000 $1,195,000 4 3.1 4357 DETACHD 474
13060 KNAUS RD $1,299,000 $1,200,000 4 3.1 4353 DETACHD 264
1677 LESLIE LN $1,840,000 $1,750,000 4 6.1 7534 DETACHD 364

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 ~ Happenings & Market Data

  • Oswego-LakeDuring the period of May 15th and August 31st, Lake Oswego Police will be conducting undercover operations using decoys to determine whether establishments are serving alcohol to underage individuals.  Lake Oswego is being proactive in implementing this program to circumvent alcohol-related incidents involving minors in Lake Oswego.  According to the Dept of Health & Human Services and the Center for Disease Control and Prevention: Underage alcohol use is a major public health problem. Alcohol is the most commonly used drug in the United States, more than tobacco and illicit drugs, and is responsible for 4,700 deaths of underage persons annually.
  • The 37th Annual “Lake Run” will be held in Lake Oswego on Saturday, May 11th. There will be a kids dash, a 5k for walkers or runners, and a 10k challenge with an “improved new route”.  This event draws thousands every year.  Come enjoy the fun in Millenium Plaza Park with entertainment, lots of great food, and exposition booths.  For more information CLICK HERE.
  • The 2013 Community Survey results show, among other things, that:

* Overall, residents rate the city 8.6 on a 10-point scale, so satisfaction is high as “a place to live”.

* Residents let their “grade” for satisfaction with local government slip to 3.3 on a 5-point scale.  (This is down .1 since 2010, and .5 since 2005)

* 52%, a majority, agree that the city makes efficient use of tax dollars.

* As for the most popular sources of information, 63% of Lake Oswego residents get their information from the Lake Oswego Review and 58% from the Hello LO newsletter among other publications.

* For the detailed report CLICK HERE.

  • Here is a bit of data illustrating how Lake Oswego compares in context with the larger Portland market (you may want to zoom… sorry for the small-ish image…. interesting though, eh?):

Portland May 2013

***Note that Appreciation is based on a comparison of the rolling average sale price for the last 12 months (4/1/12-3/31/13) with the 12 months prior (4/1/11-3/31/12). Days on Market is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, DOM continues to accrue; however, it does not include the time that it was off the market

 

Market Activity ~ Apr 22-28, 2013

Lots of steady activity during the last 7 days in Lake Oswego with 20 New properties listed, 23 going to Pending status, and 11 Sold.

Here are further details regarding last week’s Market Activity according to RMLS:

NEW SALES (Apr 22-28, 2013):

Address List Price # Beds # Baths Total SF Prop Type
4 TOUCHSTONE #68 $112,500 2 2 984 CONDO
4043 JEFFERSON PKWY $165,000 2 2.1 1182 CONDO
5225 JEAN RD #306 $170,000 2 2 1400 ATTACHD
482 S STATE ST #3B $195,900 2 1 1659 CONDO
1755 KILKENNY RD $275,000 3 1 1725 DETACHD
5895 BURMA RD $334,900 4 2.1 1781 DETACHD
1685 MAPLELEAF RD $349,900 3 2 1426 DETACHD
536 2ND ST $379,000 2 2.1 1394 CONDO
15540 PARTRIDGE DR $419,900 4 3 2203 DETACHD
4914 MULHOLLAND DR $439,900 3 2.1 2500 ATTACHD
4956 GALEN ST $474,045 4 2.1 2391 DETACHD
20 WALKING WOODS DR $475,000 5 3 3144 DETACHD
6132 SUMMER WOODS $515,000 4 2.1 2811 DETACHD
18183 WESTMINSTER DR $558,000 3 2.1 3066 DETACHD
13005 ROGERS RD $569,900 3 2.2 2917 DETACHD
5555 FIELDSTONE CT $589,500 3 2.1 2664 DETACHD
14146 EDENBERRY DR $725,000 4 2.1 3100 DETACHD
4245 WESTBAY RD $949,000 3 2 1966 DETACHD
2965 TOLKIEN LN $949,800 4 3 4337 DETACHD
16818 ALDER CIR $1,295,000 3 2 1674 DETACHD

PENDING SALES (Apr 22-28, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
208 RIDGEWAY RD $135,500 1 1 778 CONDO 48
4075 JEFFERSON PKWY #18 $172,500 2 2.1 1182 CONDO 4
3 PHEASANT RUN $224,900 3 2.1 1360 DETACHD 2
16250 PACIFIC HWY #64 $225,000 2 2 1305 CONDO 3
5881 FERNBROOK CIR $254,900 4 1 1416 DETACHD 11
52 GREENRIDGE CT $275,000 3 2.1 2524 ATTACHD 7
5686 WASHINGTON CT $310,000 2 2 1342 DETACHD 9
18917 REDWING WAY $324,900 3 1.1 1440 DETACHD 3
5753 WINDFIELD LOOP $330,000 3 2 1503 DETACHD 3
3192 DUNCAN DR $362,900 5 2.1 3139 DETACHD 406
821 EVERGREEN RD $394,900 2 1 920 DETACHD 10
4241 CHAPMAN WAY $399,000 4 2.1 2440 DETACHD 277
14466 HOLLY SPRINGS RD $425,000 5 3 2238 DETACHD 9
731 SUNNY HILL DR $439,698 3 2 2396 DETACHD 16
5498 ROYAL OAKS DR $550,000 4 2.1 2646 DETACHD 13
5711 VICTORIA CT $550,000 4 2.1 2768 DETACHD 61
828 ELLIS AVE $599,000 3 2 2145 DETACHD 1
5570 KILCHURN AVE $649,900 4 2.1 2931 DETACHD 5
2002 CEDAR CT $659,000 3 2 2945 DETACHD 4
5218 WESTFIELD CT $665,900 4 2.1 3107 DETACHD 22
13430 ATWATER LN $695,000 4 3 3557 DETACHD 6
1541 MAPLE ST $699,900 4 4 3215 DETACHD 4
3933 EDENS EDGE DR $995,000 4 3.1 4210 DETACHD 0

SOLD (Apr 22-28, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
67 N CONDOLEA TER $300,000 $275,000 3 3 2373 CONDO 35
2550 GREENTREE RD $404,900 $330,000 4 3 2852 DETACHD 160
1674 FIRCREST DR $339,900 $349,900 4 2 1998 DETACHD 54
979 DEVON LN $385,000 $380,000 3 3.1 2162 DETACHD 243
2010 GREENTREE RD $420,000 $442,000 4 2.1 2330 DETACHD 4
14336 CAMDEN LN $432,500 $450,000 4 2.1 2398 DETACHD 2
17702 OVERLOOK CIR $465,900 $460,900 5 2.1 3490 DETACHD 32
17560 WESTVIEW DR $469,900 $469,900 3 2.1 2561 DETACHD 0
13282 BOONES FERRY RD $585,000 $568,000 4 2.1 3267 DETACHD 262
2415 PARK RD $609,000 $570,000 4 2.2 2581 DETACHD 285
1465 MORNING SKY CT $815,000 $805,000 5 3.1 4678 DETACHD 160

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

Open Houses ~ April 28, 2013

There are 15 beautiful homes for you to tour this gorgeous, Lake Oswego Sunday according to RMLS.

Enjoy!

Address L/Price # Beds # Baths Total SF Prop Type Open
825 OAK ST $359,000 3 2 1350 DETACHD 1-3PM
14414 ORCHARD SPRINGS RD $379,900 3 2.1 1890 DETACHD 1-4PM
15540 PARTRIDGE DR $419,900 4 3 2203 DETACHD 1-3PM
8 HOTSPUR ST $450,000 3 2.1 1954 DETACHD 1-4PM
13658 SHIREVA DR $549,900 3 3 3502 DETACHD 12-3PM
5555 FIELDSTONE CT $589,500 3 2.1 2664 DETACHD 1-3PM
4137 ORCHARD WAY $599,900 5 2.1 3329 DETACHD 1-3PM
3130 WESTVIEW CT $649,000 4 3.1 3900 DETACHD 1-4PM
18460 RAY RIDGE DR $650,000 3 2.1 3241 DETACHD 1-3 PM
14350 MEADOW GRASS ST $674,900 4 3 3329 DETACHD 1-4PM
13430 ATWATER LN $695,000 4 3 3557 DETACHD 2-4PM
4912 FIRWOOD RD $949,888 4 4 7640 DETACHD 1-3PM
5320 CHILDS RD $989,400 5 3 4539 DETACHD 1-3PM
448 COUNTRY CLUB RD $1,595,000 4 3.1 4873 DETACHD 2-4PM
112 NORTHSHORE CIR $1,600,000 3 3.1 3632 DETACHD 11AM-4PM

News & Notes – HUD Properties

HUD HomeWe’ve talked with you in the past about distressed property sales, and given you some tips on buying these unique homes; the  difference between short sales and  foreclosures, what to look out for etc.  Today I want to talk with you a bit about HUD properties.

HUD stands for “Housing and Urban Development”, as most of you know. You will sometimes see a foreclosure referred to as a “HUD Property”.  What this means is that, unlike a run-of-the-mill REO (bank-owned) property, in this instance, the home had an FHA loan that was defaulted upon. When this happens, a bank carrying the loan would file a claim with HUD.  Then HUD ends up with the property.

When you decide that you want to make an offer on a HUD property, it is wise to go in armed with some basic information.

  • First of all, your Realtor will want to check to see how long the property has been on the market.  If it has just gone on the market, you should know that the first 30 days of “bidding” are limited to Buyers who plan to live in the home, i.e. “Owner-Occupied”.  After that time elapses, if it is still on the market, it will open up for bids from “Investors” (anyone besides someone who plans to live in it falls into this category).
  • The second thing you want to do is decide whether you really want the property. If you do, then some number-crunching is in order, especially if the property has just recently gone on the market. Basically, HUD will start looking at “bids” after day 10, and these days, with the market getting more competitive, Buyers are often offering above asking price in order to compete.  Considering that the price on a HUD home is always determined by an FHA Appraisal that HUD has completed prior to listing, it might be wise to offer at least this price if the house is newly on the market, and more if you suspect there will be multiple offers. As always, discuss your options with your Realtor.
  • Speaking of this FHA Appraisal, there are significant benefits to a Buyer who secures FHA financing.  One being that the appraisal already paid for by HUD can be used, saving a Buyer $450.-$500. or more.
  • HUD homes are sold “As-Is”. Really. BUT, If you are getting an FHA loan, there are some interesting options here. If there are basic repairs they are typically noted in the FHA Appraisal, and the appraiser has already assigned a dollar-amount to each item (i.e., “needs stove”, “strap-in water heater” etc).  Taking a cap of $5,000. into consideration, these repairs can be added on to the sale price and rolled into the financing by the lender, for repairs to be completed after sale.
  • If a HUD home was built prior to 1978, and potentially has lead-based-paint, FHA will pay for a “Lead-Based Paint Stabilization Report”.  If  it is determined to have lead-based paint, however, my understanding is that the Buyer will need to do a “203-k” or “rehab”  loan in order to have the condition remediated.  Additionally, the transaction cannot “close” until the remediation paint job is approved by HUD. Discuss these potentialities with your lender rep prior to embarking down the path, so that you are prepared with “Plan B” should you end up in this situation.
  • When you have your Realtor check on status/how long the home has been on the market, etc., also make sure to ask about whether the subject property is designated as eligible for the “Good Neighbor Next Door” program. If you are employed as a teacher, EMT, police officer or fire fighter AND the HUD home is one that is eligible, you may be able to end up purchasing it for 50% of what you offer.
  • Escrow rules have changed as of January 2013.  The Buyer now selects the Escrow office/company that will be handling he transaction. This is good if you or your Realtor have an escrow officer or company that you prefer, however, please note that the Buyer also has to pay ALL escrow fees, even those traditionally paid by the Seller. Talk to your Realtor about the possibility of asking for your closing costs to be paid, and whether or not this might be a good solution for you.

As always, you’ll want to choose a Realtor who understands the ins & outs, helps you determine if a HUD property is right for you, and if so, helps you navigate gracefully around potential pitfalls.

I hope that this information has been helpful.  Granted, I just touched on an overview of things you might want to take into consideration. For more information on HUD Properties, visit: www.HudHomeStore.com . There is an FAQ section there that will answer many of your questions.

 

Very Best to you!

Linda

Market Activity ~ April 8-14, 2013

It’s “Nothing but up”, as far as market trends in Lake Oswego and the greater Portland area go.

Last week Lake Oswego saw 24 New properties enter the market, 26 go to Pending status, and 13 properties Sold.

Here are further details regarding last week’s Market Activity according to RMLS:

NEW SALES (Apr 8-14, 2013):

Address List Price # Beds # Baths Total SF Prop Type
200 BURNHAM RD #104 $115,000 1 1 858 CONDO
15938 QUARRY RD B-4 $149,000 2 1 991 CONDO
5881 FERNBROOK CIR $254,900 4 1 1416 DETACHD
6024 FERNBROOK CIR $349,900 3 2 1470 DETACHD
13242 VERMEER DR $408,000 3 2.1 2100 DETACHD
14466 HOLLY SPRINGS RD $425,000 5 3 2238 DETACHD
1952 PARK FOREST AVE $444,900 5 3 2856 DETACHD
14371 SHERBROOK PL $467,500 3 2.1 2550 DETACHD
6192 HARRINGTON AVE $499,000 5 3 2817 DETACHD
7 WESTMINSTER DR $499,950 5 3 2974 DETACHD
5498 ROYAL OAKS DR $550,000 4 2.1 2646 DETACHD
2360 GREENTREE RD $559,000 3 2.5 2271 DETACHD
4137 ORCHARD WAY $599,900 5 2.1 3329 DETACHD
16723 BONAIRE AVE $619,500 4 3 2847 DETACHD
18673 WESTVIEW DR $649,000 3 3 3355 DETACHD
5384 WASHINGTON CT $699,900 4 3.1 3228 DETACHD
400 IRON MOUNTAIN BLVD $765,968 4 2.1 3416 DETACHD
13677 FIELDING RD $950,000 4 3.1 4070 DETACHD
3729 ELEANOR CT $978,500 4 4.1 4061 DETACHD
455 FURNACE ST $1,170,000 4 3.1 4000 DETACHD
17600 UPPER CHERRY LN $1,190,000 4 3.1 3867 DETACHD
17226 CHAPIN WAY $1,395,000 4 3.1 4917 DETACHD
1115 LAKE FRONT RD $1,839,000 4 4 3900 DETACHD
890 Lake Shore RD $2,450,000 3 3.1 3555 DETACHD

PENDING SALES (Apr 8-14, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
41 OSWEGO SMT $95,000 1 1 764 CONDO 27
3433 MCNARY PKWY #106 $114,900 2 2 1008 CONDO 30
235 CERVANTES $119,900 2 2 1100 CONDO 44
1127 CEDAR ST $219,000 1 1 1070 DETACHD 8
12 WHEATHERSTONE $229,900 3 2.1 1692 ATTACHD 2
5860 LAKEVIEW BLVD $232,000 3 1 1435 DETACHD 33
92 WHEATHERSTONE $250,000 3 3.1 2436 CONDO 25
18816 LONGFELLOW AVE $289,900 3 1 1033 DETACHD 6
1659 OAK ST $349,900 3 2.1 1885 DETACHD 109
4241 CHAPMAN WAY $399,000 4 2.1 2440 DETACHD 264
1941 PARK FOREST CT $400,000 4 3 2800 DETACHD 291
4995 OAKRIDGE RD $450,000 4 3 2232 DETACHD 5
7 HILLSHIRE DR $499,500 5 3 2978 DETACHD 3
13437 PROVINCIAL HILL WAY $579,900 4 2.1 2833 DETACHD 38
19310 RIVERWOOD LN Lt 9W $649,900 5 4 3110 DETACHD 99
2479 PALISADES CREST DR $664,500 5 3.1 6640 DETACHD 510
5148 WOODCREST LN $665,000 5 3 3110 DETACHD 8
5218 WESTFIELD CT $665,900 4 2.1 3107 DETACHD 8
868 7TH ST $699,750 4 3 2690 DETACHD 26
1985 COUNTRY CLUB RD $699,999 5 4 3630 DETACHD 336
3315 CEDAR CT $744,000 4 3.1 3712 DETACHD 46
4190 CHAD DR $749,500 4 3.1 3756 DETACHD 18
1301 HORSESHOE CURV $795,000 3 3 2060 DETACHD 3
14393 SW AMBERWOOD CIR $820,000 5 3.1 3692 DETACHD 23
3115 Wembley Park RD $899,950 4 3.1 3600 DETACHD 523
399 Furnace ST $1,695,000 3 3.1 3664 ATTACHD 379

SOLD (Apr 8-14, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
12623 SW BOONES FERRY RD $204,000 $242,077 2 2 1652 DETACHD 13
56 SW GREENRIDGE CT $259,000 $257,000 3 2.1 1996 CONDO 47
3190 DUNCAN DR $324,900 $308,000 3 2.1 2401 DETACHD 101
1670 FIRCREST DR $425,000 $395,000 4 3 2000 DETACHD 121
2 MOZARTEUM CT $417,000 $420,000 3 2.1 2254 DETACHD 4
600 MAPLE ST $445,500 $425,000 3 2.1 2416 DETACHD 121
3110 ROYCE WAY $460,000 $465,000 4 2.1 2732 DETACHD 9
686 SUNNY HILL DR $499,900 $480,000 4 2.1 2392 DETACHD 64
3763 TEMPEST DR $497,500 $484,000 5 2.1 2805 DETACHD 39
2227 HILLSIDE DR $495,000 $510,000 4 3 3003 DETACHD 5
18345 HEATHER ANN CT $665,000 $580,675 4 2.1 3336 DETACHD 253
13536 STREAMSIDE DR $649,000 $642,500 4 3.1 2857 DETACHD 22
3174 DOUGLAS CIR $999,000 $960,000 5 4.1 4600 DETACHD 23

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