Market Activity Report for October 19-25, 2009

Last week brought 19 new listings onto the market, 13 pending sales, and 9 closed sales. This week I noticed four really interesting new listings. As you know, Linda and I weed out the “new” listings that are simply old listings with new listing numbers. So each week we research the market history to report on properties that really are new on the market. This week there are several new listings that were pulled off the market months ago and are now being re-listed at drastically reduced prices. I’m not talking about a minor price reduction, I’m talking about slashing the price. In two cases the houses are now on the market as bank foreclosures, and in two cases it looks to me like home owners who are saying “What’s it going to take to get my house sold?” Here are the reductions: 18064 Jenifers Way, reduced $150,000; 2000 Wembly Park, reduced $325,000; 702 Terrace, reduced $420,000; and 830 Cabana, reduced $727,000. These are incredible price reductions and represent real investment opportunities.

Here is the latest market activity for Lake Oswego (see below the tables for additional notes):

NEWLY LISTED (Oct. 19—Oct.25, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address Close Price List Price # BR # BTHS Total SF Prop Type List Date
47 EAGLE CREST DR $148,000 3 1 1,024 CONDO 10/19/2009
16790 LAKE FOREST BLVD $179,000 2 1 780 DETACHD 10/25/2009
16535 ROOSEVELT AVE $259,000 3 2 1,495 DETACHD 10/19/2009
5225 JEAN RD $259,900 2 2 1,400 CONDO 10/23/2009
16546 BONAIRE AVE $274,900 3 1 1,064 DETACHD 10/19/2009
14300 SHERBROOK PL $354,500 3 2.1 1,924 DETACHD 10/22/2009
17755 HILL WAY $364,900 4 3 1,831 DETACHD 10/22/2009
16018 WALUGA DR $415,000 4 2 2,200 DETACHD 10/20/2009
3402 LAKE GROVE AVE 442000 3 2 1,686 DETACHD 10/25/2009
702 TERRACE DR 475000 3 3 3,429 DETACHD 10/23/2009
209 HIDALGO ST 498000 4 2.1 2,620 DETACHD 10/21/2009
17670 MARYLBROOK DR 499000 3 2.1 3,067 DETACHD 10/22/2009
2000 WEMBLEY PARK RD 540000 4 3 2,660 DETACHD 10/21/2009
18064 JENIFERS WAY 599000 3 2.1 2,859 DETACHD 10/23/2009
830 CABANA LN 668250 4 3.1 3,029 DETACHD 10/20/2009
13278 ROGERS RD 695000 3 2.1 2,964 DETACHD 10/19/2009
13315 HIDDEN BAY CT 729000 5 2.1 3,671 DETACHD 10/23/2009
548 RIDGEWAY RD 1195000 4 3 2,830 DETACHD 10/19/2009
1626 ENGLEWOOD DR 1750000 4 2.2 5,690 DETACHD 10/19/2009

PENDING SALES (Oct. 19 -Oct. 25, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address List Price # BR # BTHS Total SF Prop Type CDOM
4 TOUCHSTONE $119,900 2 2 984 CONDO 43
3930 LAKE GROVE AVE $144,900 2 1 952 CONDO 28
73 OSWEGO SMT $159,900 2 2 1,212 CONDO 440
4948 SW MEADOWS AVE $229,000 3 2 2,491 DETACHD 122
3497 DEVONSHIRE DR $259,900 3 2 1,556 ATTACHD 145
5347 RED LEAF ST $329,000 3 2 1,456 DETACHD 14
5096 SW TREE ST $334,900 3 1.1 1,410 DETACHD 462
17366 CARDINAL DR $425,000 4 2.1 2,107 DETACHD 56
13584 TWIN CREEK LN $449,900 4 2.1 2,615 DETACHD 2
410 LAUREL ST $464,500 4 2.1 2,064 DETACHD 138
13175 THOMA RD $579,900 3 2 1,920 DETACHD 8
19463 LORNA LN $805,000 4 3.1 4,024 DETACHD 6
13083 SW KNAUS RD $2,295,000 5 4.1 4,900 DETACHD 598

SOLD (Oct. 19-Oct. 25, 2009)

ADDRESS ORIG. PRICE SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
340 CERVANTES CIR $120,000 $105,000 2 1.1 912 CONDO 122
15230 BOONES WAY $164,900 $158,500 2 2 1,185 CONDO 77
195 OSWEGO SMT $279,900 $183,700 2 2 1,506 CONDO 343
5 PEACOCK PL $330,000 $289,500 4 2.1 1,760 DETACHD 169
17860 Sundown CT $499,900 $320,000 4 3.1 3,480 DETACHD 136
14141 GOODALL RD $359,900 $375,000 3 2.1 1,754 DETACHD 91
19 TOUCHSTONE $415,000 $390,000 4 3 2,789 DETACHD 107
5329 Langford LN $725,000 $719,000 3 2.1 2,962 DETACHD 302
1708 VILLAGE PARK LN 899000 889000 4 2.1 3,211 DETACHD 13

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.

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