Attached vs Condo, What’s the Difference?

I think that most people think that the word attached (also commonly called townhouse) is based upon the design of the property.  Either one or two story with no neighbor above or below. That is not the case. Attached does mean that you don’t have a neighor above or below, but, more importantly, it means that you own the dirt underneath.  Because you own the dirt, you are responsible for the upkeep and maintenance of the crawl space.

There is a huge advantage to purchasing an attached home. Besides not having someone living above you, it is much  easier to finance, which makes it easier to sell. Lenders treat attached houses just like any other house.

 

With a condo you own the interior walls and everything inside of those walls. The exterior walls, crawlspace, and roof are all part of the limited common areas of the home owners association.

Condos can be a little bit problamatic when it comes to financing.  Federal lending guidelines requre that at least 50% of the units be owner occupied, and one individual or entity can not own more than 10% of the units. Additionally, to be FHA financeable, the HOA must apply for and maintain their FHA eligibility. This is often neglected by the HOA and so it is not always availble. Because condos tend to be more affordable, they are often purchased by first time home buyers. With out FHA financing, it can be too hard for first ime buyers to come up with enough of a down payment to purchase in communities that don’t have FHA approval.

When Linda and I do the Market Activity Report, we always indicate if a property is Detached, Attached, or a Condo. I thought it would be helpful if you understood the differences.

As always, thanks for reading the Blotter,

Dianne

Market Activity March 7-13, 2022

Last week in Lake Oswego there were 21 new listings, 15 that went into pending status, and 9 sold/closed properties.

Something that has frustrated me for a while is that when I pull the stats for this report many houses will have already moved into pending status, when, in fact, they were also new listings last week. I tried something different this week by taking an additional step to make sure they are included as new listings as well as pending. For this reason, you’ll see several properties that show up in both sections of this report.

See below for additional RMLS data.

New on the Market March 1-13, 2022

Address Type Price BR Baths Sq Ft
45 Eagle Crest Dr #309 Condo $259,900 2 2-Jan 1056
230 Laurel St Detached $661,900 3 2 1339
6025 Carman Dr Detached $699,900 3 2 1641
13700 Provencial Hill Dr Detached $725,000 4 2.5 2078
12729 SW 19th Ave Detached $799,000 4 3 2554
4870 Centerwood St Detached $839,900 4 2.5 2434
17348 Hunter Ct Detached $929,000 3 2.5 3112
5554 Luce Ln Detached $998,900 4 3 3269
1004 Cumberland Pl Detached $1,100,000 5 2 3313
12715 Adrian Ct Detached $1,150,000 4 2.5 3003
38 Briarwood Rd Detached $1,279,000 4 3 2552
26 Briarwood Rd Detached $1,279,000 4 3 2554
4030 Canal Woods Ct Detached $1,380,000 5 4 4103
2612 Rivendell Rd Detached $1,389,000 4 3 3521
1050 Schukart Ln Detached $1,399,000 4 3.5 5847
3938 Edens Edge Dr Detached $1,450,000 4 3.5 3880
21 D Ave #2 Condo $1,718,400 2 2.5 2183
735 7th St Detached $1,725,000 3 3.5 3073
1949 Cheryl Ct Detached $1,750,000 $5 4.5+.5 5011
21 D Ave #12 Condo $1,863,600 2 2.5 2177
3115 Wembley Park Rd Detached $2,000,000 4 3.5 3800

Pending Sales March 7-13, 2022

Address Type Price BR Baths Sq Ft CDOM
213 Cervantes Condo $329,000 2 1.5 1216 7
210 State St 37 Condo $449,900 3 2 1302 32
4434 Thunder Vista Ln Condo $479,000 2 2.5 2040 4
27 Aquinas St Detached $559,900 3 2.5 1530 4
230 Laurel St Detached $661,900 3 2 1339 2
143 Church St Detached $700,000 2 1 1220 61
13700 Provincial Hill Dr Detached $725,000 4 2.5 2078 2
15562 Heritage Ct Detached $864,000 4 2.5 2338 5
23 Touchstone Detached $924,900 5 4 3169 7
554 Luce Ln Detached $998,900 4 3 3269 3
3778 Rivers Edge Dr Detached $1,150,000 4 3.5 3012 5
928 Lake Front Rd Detached $1,299,900 4 3 2468 6
3938 Edens Edge Dr Detached $1,450,000 4 3.5 3880 4
1001 Cedar St Detached $1,495,000 4 3.5 2572 14
21 D Ave #2 Condo $1,718,400 2 2.5 2183 0

Sold/Closed March 7-13, 2022

Address Type List Price Sold Price Sq Feet DOM
200 Burnham Rd #206 Condo $359,000 $345,000 1199 62
3974 Carman Dr Attached $380,000 $380,000 1107 0
13991 Majestic Ct Detached $550,000 $600,000 1765 4
16940 Tracy Ave Detached $675,000 $624,000 1656 88
91 Tanglewood Dr Detached $799,900 $789,900 3111 21
14141 Goodall Rd Detached $784,900 $815,000 1939 2
18582 Bryant Rd Detached $799,900 $872,698 2579 2
19001 Redwing Way Detached $829,000 $876,500 2116 3
150 Iron Mountain Blvd Detached $1,100,000 $1,200,000 2868 3

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 21-27, 2022

Last week in Lake Oswego there were 5 new listings, 22 properties that accepted offers and moved into pending status, and 14 closed/sold homes.

See below for RMLS data.

New listings Feb 21-27, 2022

AddressTypePriceBRBathsSq Ft
16250 Pacific Hwy #44Condo$387,000221305
122 Touchstone TerrDetached$829,90043.52348
353 3rd StAttached$909,00033.52044
1001 Cedar StDetached$909,00043.52572
21 D Ave #1Condo$2,530,800232572

Pending sales Feb 21-27, 2022

AddressTypePriceBRBathsSq FtCDOM
4647 Lakeview Blvd D1Condo$229,999117531
47 Eagle Crest Dr #13Condo$259,000219325
19 Crestfield CtCondo$310,000219213
209 CervantesCondo$325,00021.512169
5225 Jean Rd #309Condo$360,00022110020
3990 Carman DrCondo$415,90022.5109821
34 Condolea DrCondo$475,00022142017
9 Bloch TerrAttached$599,90032.519467
959 Lee StDetached$670,00032234042
67 Condolea TerrCondo$675,0003324092
14141 Goodall RdDetached$784,90032.519392
16946 Lower Meadows DrDetached$839,90032.517693
4144 Sunset DrDetached$950,0003226324
1150 Greentree RdDetached$965,00042.527035
14232 Meadow Grass StDetached$1,100,0004328944
150 Iron Mountain BlvdDetached$1,100,00042.528683
2650 Overlook DrDetached$1,250,00042.5303012
18002 Pilkington RdDetached$1,599,0004336293
411 Ridgeway RdDetached$1,725,00032.532913
13348 Leslie CtDetached$1,750,00042.538631
16881 Canyon DrDetached$2,799,0005438881
5185 Carman DrDetached$3,650,00032.5+.56500360

Sold/Closed Feb 21-27, 2022

AddressTypeList PriceSold PriceSq FeetDOM
45 Eagle Crest Dr #202Condo$215,000$197,00067843
4632 Lower Dr B2Condo$320,000$320,000117029
19 Britton CtAttached$535,000$525,00013945
4503 Black Forest CtDetached$795,000$840,00021662
277 Evergreen RdCondo$895,000$902,0001,9502
13522 Provincial Hill WayDetached$899,000$965,00032441
14361 Sherbrook PlDetached$899,000$975,00021002
17154 Loweberg TerrDetached$1,295,000$1,285,00034124
13888 Shireva DrDetached$1,200,000$1,310,00038274
180 Iron Mountain BlvdDetached$1,595,000$1,350,0003378124
589 7th StDetached$1,549,000$1,590,00033873
14711 Upland DrDetached$1,695,000$1,850,0033273
13286 Goodall RdDetached$2,495,000$2,471,0000
13648 Goodall RdDetached$2,499,900$2,475,000528856

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.

Radon and Granite Countertops

At Oregon First we have a gmail group called Haves and Wants. A recent discussion happened about the topic of radon and granite countertops.

Radon comes from granite. When you purchase a home, you should alway do a radon test to see if the radon levels in the house are higher than the EPA limit of 4.0 picocuries. (The World Health Organization recommends a level of not more than 2.7 picocuries.) Generally speaking the granite is in the form of boulders underneath the house, in the ground. You just don’t know whether the house is built over granite boulders or not, so you always test the radon levels.

So if radon comes from granite, what about granite countertops?

This subject came to my attention about 15 years ago. So I dialed up my favorite radon mitigation company and asked if I should be concerned. I was told that, generally speaking, the radon given off by granite countertops was not at a level high enough to be concerned.

Here is the offical EPA information. Click here.

White kitchen design features large bar style kitchen island with granite countertop illuminated by modern pendant lights. Northwest, USA

The bottom line is that you should be concerned about the possibility of radon in a house. Always get it measured. Even if you aren’t buying a house. If you live in a home where you have never measured it, get it measured. You can buy a do-it-yourself test at your local home improvement store, and there are numerous companies who perform this service. The cost to test is $60-$150. Cheap for the peace of mind. If radon is found, the cost to mitigate it is $1500-$3000, generally speaking. Again, cheap for the piece of mind.

I also think that when planning a remodel, don’t assume that just because it is available for purchase it has no issues. Do your research. There are alternatives to granite that are also gorgeous.

I hope that you find this useful. Thank you for reading the blotter.

Dianne

Market Activity Feb 7-13, 2022

I once had a client who had statistically figured out the the prime weekend of the entire year to put your house on the market is the weekend following the super bowl. With 19 pending sales in Lake Oswego last week, that certainly feels like good advice. We also had 6 new listings and 10 properties that were closed sales.

See below for further RMLS data.

New on the Market Feb 7-13, 2022

AddressTypePriceBRBathsSq Ft
4 Touchstone Dr #150Condo$225,90022984
4631 Lakeview BlvdCondo$250,00011753
45 Eagle Crest Dr #513Condo$253,50021.51056
48 Eagle Crest Dr 4ACondo$475,000221489
668 McVey Ave #10Condo$540,00031992
16758 Graef CircleDetached$669,000311295
5353 Lakeview BlvdAttached$1,119,00043.52900
2650 Overlook DrDetached$1,250,00042.53030
21 D Ave GPHCondo$3,269,20032.53399
807 Ellis aveDetached$3,600,00044.54964

Pending Sales Feb 7-13, 2022

AddressTypePriceBRBathsSq FtCDOM
89 Galen StCondo$199,000115523
45 Eagle Crest Dr #312Condo$229,0001178016
200 Burnham Rd #206Condo$349,00021119962
3974 Carman DrAttached$380,00022.511070
34 Condolea DrCondo$475,0002214203
750 1st St E27Condo$479,900221350162
5062 Foothills Dr GCondo$485,00022125298
2806 SW Orchard Hill PlDetached$649,00032.523245
18561 Kristi WayDetached$649,95032.5145068
48 Hillshire DrDetached$795,5004330345
93 Tanglewood DrDetached$799,90032.5+.5311121
6 Grouse TerDetached$850,0003336534
2777 Evergreen RdCondo$895,00033.519502
2719 Greentree RdDetached$985,00053.538865
14711 Uplands DrDetached$1,695,00044.533273
21 D Ave #13Condo$1,993,20022.523048
21 D Ave #4Condo$2,067,00022.5243186
2305 Glen Haven RdDetached$2,275,00054363282
1845 Highlands LoopDetached$2,995,00043.5+.553063

Closed/Sold Feb 7-13, 2022

AddressTypeList PriceSold PriceSq FeetDOM
4 Touchstone #94Condo$248,000$238,00013517
30 Crestfield CtCondo$290,000$300,0009891
16200 Pacific Hwy #9Condo$524,900$500,00011900
1118 StDetached$650,000$650,000132012
8 Da Vinci StDetached$779,000$845,5002,9064
16538 Maple CircleDetached$1,550,000$1,750,00028544

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.

The Importance of a Great Backyard

Backyards are truly something to be enjoyed. They expand the living area of a house and are the location for making memories in solitude, as well as with friends and family. When I show houses and we walk outside to find a really great backyard, it is the cherry that tops the cake of a great house. Here are 8 ideas for creating that great backyard.

  1. Connect the indoors to the outdoors with big windows and easy access doors. From inside, you’ll enjoy looking out and having the opportunity to enjoy the yard every day of the year.
  2. Create an outdoor workspace. Trees and landscaping make a wonderful backdrop to Zoom meetings. In addition, working outside on a nice day is a bit of a gift that you can give to yourself. To do this, you’ll need strong wifi, an exterior electrical outlet, and a sturdy table.
  3. Let’s talk al fresco. I reguarly do large dinners for my family in my yard. When we gather there usually about 15 people. I put tables end to end to create one large dining table. I then use linens and my good china. It feels so luxurious! A covered area in which to dine, along with an outdoor heater, makes this possible any month of the year.
  4. Add some entertainment potential. Again, a good table for board games, and perhaps a mounted television to watch football and movies.
  5. Establish a wildlife habitat. I no longer feed the birds (there was a certain squirrel incident), but I do put out water. I have 5 birdbaths. If they go empty, the birds will literally sit on the rim and squack at me. Landscaping is also a great idea for attracting birds.
  6. Make your yard pet friendly by fencing it. Today the fencing choices are plentiful, including fences that barely obstruct your viewing of the entire yard.
  7. Just like the rest of the house, clutter is a big no no. Store the clutter elsewhere. Particularly when selling the house, it needs to be tidy.
  8. Privacy is super important. If you have a house that looks into your yard, plant a tree or a hedge. In my case, my husband built a privacy screen that goes about 20 feet. Just enough to block my neighbors windows.

I hope that you have found this helpful. Thanks again for reading the blotter!

Dianne

Market Activity January 10-16, 2022

We are still in the slowness of winter with just 4 new listings, 9 pending sales, and 7 sold/closed properties in Lake Oswego last week. Having said that, it’s a hot market. Inventory is just so low and when a house comes onto the market, bidding wars are common. As we move into February, I expect the inventory to improve. It is a great time to list your house for sale!

See below for RMLS data.

New on the Market January 10-16, 2022

AddressTypePriceBRBathsSq Ft
959 Lee StDetached$719,000322340
17763 Mardee AveDetached$741,900532110
566 4th StAttached$1,549,00044.5+.53376
5001 Park Bluff PlDetached$2,200,000444022

Pending Sales January 10-16, 2022

AddressTypePriceBRBathsSq FtCDOM
4632 Lower Dr B2Condo$320,00021.5117029
19 Britten CtAttached$535,0002213945
4 Preakness CtAttached$550,00032198532
17617 Sydni CtCondo$799,90052.5263435
13522 Provencial Hill WayDetached$899,00032.532441
17154 Lowenberg TerrDetached$1,295,00053.5341240
180 Iron Mountain BlvdDetached$1,495,000543378124
16538 Maple CircleDetached$1,550,00043.528544
567 10th StDetached$1,800,00043.5470685

Sold/Closed January 10-16, 2022

AddressTypeList PriceSold PriceSq FeetDOM
58 Galen StCondo$224,900$215,00068725
156 Ridgeway RdCondo$450,000$420,0001758174
2320 Glen Haven RdDetached$649,000$680,00013461
326 Lake Bay CtDetached$820,000$820,00014273
1500 Morning Sky CtDetached$1,178,000$1,098,0004,402107
769 4th StDetached$1,965,000$1,965,000392229
2643 Southshore BlvdDetached$3,300,000$2,750,0004543146

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 Dec 20, 2021-Jan 2, 2022

The winter break is such a breath of fresh air. We all get to slow down a bit and enjoy our home hearth with our family and our friends. Thank you all for being readers of the blotter, and for allowing Linda and I to take a break for a couple of weeks. But now we are back at it. The market is healthy and strong and we are gearing up for the late winter and spring housing market.

I don’t think that there has ever been a better time to put a house on the market. Truly, list now if you are planning to sell. The inventory is very, very low. The Federal Reserve has announced that they intend to impliement several interest rate increases in the coming year and there are hordes of buyers wanting to buy before that happens. This is a GREAT time to list a house!

Looking at the numbers in real estate for Lake Oswego in the last two weeks we saw just 3 new listings, 10 houses go into pending status, and 25 sold/closed properties.

See below for more RMLS data.

New Listings Dec 20, 2021-Jan 2, 2022

AddressTypePriceBRBathsSq Ft
45 Eagle Crest Dr #311Condo$285,000221046
1247 Cedar StDetached$550,000322022
302 Laurel StDetached$679,000321907

Pending Dec 20, 2021-Jan 2, 2022

AddressTypePriceBRBathsSq FtCDOM
572 S State St 8CCondo$319,9002191447
4000 Carman Dr #92Condo$349,0002299912
16191 Lake Forest BlvdDetached$500,0003186414
6317 Carman DrDetached$599,00031.5134478
4966 Galen StDetached$600,0003216995
2320 Glen Haven RdDetached$649,00031.513461
52 Northview CtAttached$649,90032.5219854
6472 Dawn StDetached$650,000321032110
1118 Oak StDetached$650,00031.5132012
115 Touchstone TerrAttached$670,00043.5256079

Sold/Closed Dec 20, 2021-Jan 2, 2022

AddressTypeList PriceSold PriceSq FeetDOM
9 Oswego SummitCondo$218,000$218,0007646
44 Eagle Crest DR #36Condo$250,000$248,5009033
4000 Carman Dr G108Condo$249,000$271,5007673
59 Oswego SummitCondo$295,000$295,00011402
7155 Childs RdCondo$278,000$300,0009164
86 Kingsgate Rd E103Condo$355,000$355,00092466
17347 Ashley CtAttached$650,000$645,946211734
16989 Tualatin StDetached$690,000$650,000149150
4104 Lakeview BlvdDetached$849,000$722,000224487
13470 Peters RdAttached$799,500$827,00023244
1407 Greentree CircleDetached$835,000$876,00022013
4080 Coltsfoot LnDetached$899,900$884,900288411
365 3rd StAttached$899,000$910,00021543
17288 Blue Heron RdDetached$1,775,000$1,050,0004128405
755 Ellis AveDetached$829,000$1,100,00022485
3777 Rivers Edge DrDetached$1,095,000$1,100,00028756
18168 Westminster DrDetached$1,099,000$1,150,00042205
14405 Pfeifer DrDetached$1,250,000$1,250,00038534
828 7th StDetached$1,250,000$1,400,00024184
1300 Tyndall CtDetached$1,299,950$1,400,88824184
5918 Seville AveDetached$1,289,800$1,405,345177624
2245 Glen Haven RdDetached$1,950,000$1,950,00038309
637 Englewood DrDetached$2,825,000$2,695,000423119
2101 Wembley Park RdDetached$2,750,000$2,700,000471019
1101 Crestline CtDetached$3,695,000$2,775,0007226415

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

Notary Services at the Library

Did you know that the Lake Oswego Library offers free notary services the first and third Saturdays of each month? It does, including today. Volunteers provide the notary as a community service. It’s free.

The library is located at 706 4th St in First Addition. For more information click here.

I’ll have the market activity report up shortly. Thank you for your patience.

Dianne

Choosing a Home Inspector

There is a tendancy to shop for good value. It’s bread into us by the reality that making our dollars go further enhances our ability to invest and plan for the future. This is a good trait in people, but when it comes to home inspectors, you really do get what you pay for.

You can get a home inspection done for around $300-$400. The inspectors that I recommend charge twice that. So what’s the difference? Time, my friend. The difference is time.

The good inspectors book 1 or 2 inspections a day. The cheap inspectors book 3-4 a day. This means that in saving money you are probably hiring someone who is checking their watch and thinking that they need time to drive to the next appointment to get there on time.

You just don’t know what is going to turn up in a home inspection. Your inspector needs time to dwell on details and figure the house out. The two companies I recommend most highly are Associated Master Inspectors and Inspectek West. Both have mulitiple employees and anyone of them is terrific. In addition, AMI maintains a contractor list that is long and well vetted. Painters, asbestos abatement, electricians, you name it, they have it. For the AMI contractor list click here.

I want to assure you that I am not in kahoots with either company. I have attended many, many home inspections. I know what a good inspection looks like. In my entire career, I’ve never had a client come back to me after the sale with a horror story of something missed in the home inspection.

I also had a client a few years ago that was certain that I must be recommending people who would go easy on the house so that the sale would be more likely to happen. She hired an inspector who inspected the roof from the driveway. He did not even walk on the roof.

I want my clients to know what they are buying. If something so bad turns up that makes them change their mind about buying the house, I am happy it happened early in the process and that they didn’t buy a problem.

As always, thanks for reading the blotter,

Dianne