Author: Dianne and Linda

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Zillow buys Trulia, how does this affect the game?

Back in January of 2015 Zillow spent 3.5 billion dollars and bought out Trulia, though instead of overhauling their competitor, they have decided to maintain separate identities while working together to achieve larger real estate advertisement goals.

For most modern-day home buyers, actively or even casually in the market looking for a house, they will turn to the comfort of their computer at home or even on their mobile device while out and about. It is just so much more convenient to have the information on hand than it is to call up a real estate agent and request the information. Typically what sites do they turn too? Zillow and Trulia are the most popular public access real estate information platforms on the internet today. Zillow gives a rough estimate on the price of houses currently on the market, while Trulia offers information on the location of the home, the neighborhood, various draw-ins around the neighborhood, and even provides readily accessible information for mortgage brokers.

How does this affect homebuyers?
For home buyers this is a dream. House shopping becomes painless, quick, and convenient. You can easily bring up houses side-by-side and compare traits that you would find most favorable when making that very important decision of buying (or even selling!) a home.

How does this affect Realtors?
Realtors are no longer turned to as the gurus of knowledge for obtaining information on all houses provided for by the real estate market. Though that does not mean that we have been replaced! The most important job a Realtor can take on is being there in person with buyers and sellers, and guiding them through the experience. A LOT of paperwork goes into buying and selling houses now days, and it is a Realtor’s job to walk you through the steps and help guide you, while making sure that you are well informed of anything and everything that is known about the property. Instead of being the gatekeepers of information on the real estate market they are now more like guard dogs. It won’t be Zillow who maintains copies of counter-offers and addendums, tracks dates, and informs you of deadlines which may risk your earnest money (Nor do I foresee Zillow coming out to a home inspection and/or radon text. But who knows!). One thing that Zillow provides, which is beneficial to Realtors, is that it maintains a database of information on houses that extend nationwide. So real estate agents no longer have to maintain an area of expertise (unless they want too of course) and can participate in transactions as far out (within their state) as they are willing to drive. This is beneficial to those who are active in social media sites and like to maintain a referral network.

For selling agents Zillow and Trulia make advertising your listing a breeze, but only for those surfing the internet. Though it is nice to have easy-access internet advertising, if you wish to stand out from other listings, which have the same publicity on Zillow/Trulia, you will need to continue working those open houses!
As a side note: no matter what information Zillow or Trulia finds on a property. It will inevitably still be the listing agent who will be the most knowledgeable about specific details.

How does Zillow get its prices?
Zillow uses an algorithm known as The Zestimate. Like the very function of its name, it is an estimate and NOT an appraisal (estimates are not used legally to determine the actual value of the house). The Zillow Zestimate uses information on the property such as previous prices the home was bought and sold by, as well as houses in the neighborhood that are of similar price value. The Zestimate does NOT take into account subjective desires like: views, shops, RV parking, gardens, real wood floors, stained glass, finished and furnished basements (which are just a few of the things not considered, to give you an idea. Zillow only looks at prices and price history). Zillow’s Zestimate aims at giving you an idea of where to start when pricing a home. Some Zestimates are going to be more accurate than others depending on the activity of the neighborhood in the real estate market. In essence: if a Zestimate is too low it could be because Zillow is not taking into account a completely new kitchen renovation, as well as any other amenities that may make the house more desirable than houses surrounding the property.

What can I expect to see now that Zillow and Trulia have joined forces?
A mass information abundance! Which is a good thing for buyers, sellers, and Realtors! Providing easy access for information on houses while you are already browsing your social media sites, or surfing the internet.

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The 10 days of the Inspection Period

Inspections! Inspections! Inspections!

So as my learning experience continues to chug along like the little real estate choo choo train that it is; I have come to really value what is found during the home inspections process and I’d like to share some of my experience with you!

First of all I cannot stress how critical the inspection time period is: From the moment an offer is accepted (and all counters are considered) your inspection period starts.

In our contract it states:
”Buyer shall have ___ business days (ten [10] if not filled in), after the date Buyer and Seller have signed this Agreement (hereinafter the “Inspection Period”), which is to complete all inspections and negotiations with Seller regarding any matters disclosed in any inspection report.”

Now! I don’t want to get too preachy, as our contract has a WEALTH of information that protects both our buyers and sellers. But this portion is super important. Basically what it is saying is that once your offer (as a buyer) is accepted then you have 10 business days to fully inspect the home that you are about to buy. At the end of the 10 business days the inspection period closes and it will be assumed that as the buyer you are accepting the house as is!

How you should see this; is as your safety net for an investment and start your inspections ASAP once you enter those 10 days. The sooner you can collect further information on the house the better, as you will want to further negotiate with the seller about the things you have found.

Now I know that those out there who have the sale of their house in mind are thinking:

“Hey wait a minute! What about me? The sale of my home is my investment as well!”

And that is absolutely correct! During the inspection period it will be critical for you as the seller to allow the buyer to perform these inspections so that they may gather the necessary information on the house, and hopefully buy it from you. Whatever comes back to you as a critical or necessary change to the property (that the buyer wishes to express) becomes your knowledge as well, and as a seller you will want to know.

Now during these 10 business days of the Inspection Period, a buyer can at any time unconditionally disapprove of the house due to the found inspections and leave the contract. Say for instance the entire main bathroom floor is rotted and neither buyer nor seller can afford the costly repair at this time, the buyer can decide to politely take his leave as well as his earnest money.

So all in all I wish to communicate that getting your inspections done promptly once entering into a contract to buy a home is super important for everybody involved. 10 business days may seem like a fair amount of time, but by no means is it a time to put off. The inspection period time is your time in your investment.

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Market Activity Jan 26- Feb 1, 2015

It is time to stay up-to-date with what is going on in Lake Oswego’s Real Estate scene! Looks like we have some beautiful new homes that have reached the market that are absolutely worth taking a look at. LOTS of pending properties (23 to be exact!), so we’ll all have some new neighbors soon! And 8 sold homes that will be all moved in hopefully by St. Valentines Day!

Following is the breakdown for you according to RMLS:

New on the Market (Jan 26- Feb 1, 2015)

Address Type Price Bedrooms Bathrooms Sqft
86 KINGSGATE RD E102 CONDO 129,900 2 2 924
5225 JEAN RD #311 CONDO 170,000 2 2 1100
210 S STATE ST #7 CONDO 249,000 2 2 1284
1033 HALLINAN ST DETACHED 309,900 3 1 936
3190 DUNCAN DR DETACHED 400,000 3 2.5 2401
19 MONTECELLO DR DETACHED 479,900 6 3 3678
6 NORTHVIEW CT ATTACHED 532,500 4 3.5 3200
2518 WEMBLEY PARK RD DETACHED 1,395,000 – 1,495,000 5 4 4200

Pending Sales (Jan 26- Feb 1, 2015)

Address Type Price Bedroom Bathrooms Sqft DOM
1 SW CRESTFIELD CT CONDO 95,000 1 1 689 18
336 CERVANTES CIR CONDO 139,500 2 1.5 1112 87
28 CRESTFIELD CT CONDO 145,000 2 2 995 3
48 EAGLE CREST DR CONDO 184,900 3 2 1623 10
16351 PACIFIC HWY DETACHED 339,900 3 3 1754 18
5053 W SUNSET DR ATTACHED 375,000 2 2.5 1720 2
1327 CEDAR ST DETACHED 399,900 4 2 2350 26
14201 DOLPH CT DETACHED 449,000 3 2 1864 11
12460 BOONES FERRY RD DETACHED 449,950 5 3 3650 493
8 WALKING WOODS DR DETACHED 515,000 4 3 3105 25
4959 BILFORD LN DETACHED 549,900 3 2.5 2456 4
5590 KILCHURN AVE DETACHED 559,900 4 2.5 2472 68
4729 FIRWOOD RD DETACHED 569,900 3 2.5 2594 87
1625 BEDFORD CT DETACHED 595,000 2 2.5 2462 9
12511 SHELBY CT DETACHED 599,900 5 3.5 3641 80
17838 MARYLCREEK DR DETACHED 735,000 4 3.5 4317 35
15203 LILY BAY CT DETACHED 779,000 4 2.5 3219 1
5868 SUNCREEK DR DETACHED 795,000 4 2.5 3164 9
1034 CEDAR ST DETACHED 799,500 4 3.5 2895 13
2065 RIDGE POINTE DR DETACHED 849,900 5 4 4790 246
1136 WESTWARD HO DR DETACHED 895,000 3 2.5 3344 296
1057 BULLOCK ST DETACHED 945,000 4 3.5 4700 185
1854 OAK KNOLL CT DETACHED 1,075,000 3 3 3351 147

Sold/Closed (Jan 26- Feb 1, 2015)

Address Type List Price Close Price Sqft DOM
40 OSWEGO SUMMIT CONDO 151,900 148,000 1140 224
4765 FIRWOOD RD DETACHED 325,000 355,000 1728 3
4940 CENTERWOOD ST DETACHED 425,000 435,000 2093 3
4630 WILDWOOD ST DETACHED 469,850 460,000 2067 83
4636 AUBURN LN ATTACHED 499,900 464,000 2732 118
401 ASH ST DETACHED 699,900 555,000 5048 414
18375 RIVER EDGE LN DETACHED 897,950 846,500 3400 27
5055 LAKEVIEW BLVD DETACHED 890,000 925,032 3498 28

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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Market Activity Jan 5-11, 2015

Now that the New Year has gotten off to a pretty good start and we are eagerly looking forward to spring market, lets have a look see at some of our new inventory! As well as many of our pending sales. Looks like condos are doing well! Word on the street (beautiful Lake Oswego streets that is!) that this spring term is shaping up to looking pretty full of activity!

Following is the breakdown for you according to RMLS:

NEW on Mkt (Jan 05-11, 2015)

Address Type Price Bedrooms Bathrooms Sqft
16351 PACIFIC HWY DETACHED 339,900 3 3 1754
578 2ND ST #6 CONDO 425,000 2 2.5 1394
4909 LOWER DR DETACHED 425,000 4 2.5 1992
1033 SPRUCE ST DETACHED 495,000 2 2.5 1562
808 ELLIS AVE DETACHED 514,900 3 2.5 2108
751 BRIERCLIFF LN DETACHED 528,950 4 3 2534
1008 SPRUCE ST DETACHED 535,000 3 2.5 1765
18495 TAMAWAY DR DETACHED 548,000 4 2.5 2680
1119 OAK ST DETACHED 549,900 4 2.5 2123
1011 SPRUCE ST DETACHED 565,000 3 2.5 1930
8 DEL PRADO ST DETACHED 599,900 5 3 3548
19242 INDIAN SPRINGS RD DETACHED 749,900 4 2.5 3365
13643 MELROSE PL DETACHED 839,900 4 4 4146

PENDING SALES (Jan 05-11, 2015)

Address Type Price Bedroom Bathrooms Sqft DOM
47 EAGLE CREST DR #40 CONDO 89,500 1 1 696 51
6 CERVANTES CIR CONDO 139,500 2 1.5 912 77
4077 JEFFERSON PKWAY CONDO 234,500 2 2.5 1462 24
1803 BOCA RATAN DR ATTACHED 297,000 3 2.5 1739 44
18275 TERRY CT DETACHED 309,000 3 1.5 1270 228
6138 SW KENNY ST DETACHED 314,000 3 1.5 1190 5
6101 HARRINGTON AVE DETACHED 364,000 3 2.5 1400 62
852 5TH ST DETACHED 379,000 2 1 738 34
3554 TEMPEST DR DETACHED 449,007 3 2.5 2279 4
17190 ROBB PL DETACHED 450,000 4 3 1896 54
1560 LABURNUM WAY DETACHED 499,900 3 2 1773 1
3254 DUNCAN DR DETACHED 499,999 4 3.5 3997 499
12 SCARBOROUGH DR DETACHED 499,999 4 2.5 2943 187
14353 HOLLY SPRINGS RD CONDO 525,000 4 3 2238 129
909 LAKE FRONT RD DETACHED 565,000 4 3 2916 481
3700 MARQUIS CT DETACHED 919,900 4 2.5 4251 69

SOLD (Jan 05-11, 2015)

Address Type List Price Close Price Sqft DOM
4619 LAKEVIEW BLVD D-3 CONDO 92,000 91,500 753 28
86 KINGSGATE RD C203 CONDO 139,500 139,500 924 4
4000 CARMAN DR #5 CONDO 145,000 145,500 1361 4
4089 JEFFERSON PKWY CONDO 199,950 207,500 1361 8
5344 TUALATA CT DETACHED 349,355 344,927 1263 45
571 2ND ST CONDO 589,500 589,500 1561 18
17410 UPPER CHERRY LN DETACHED 898,000 725,000 4586 141
3100 WESTVIEW CT DETACHED 929,000 880,000 3750 17

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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First Time Home Buying and Financing Assistance Programs

Hey all! I’m posting a little out of order so bear with me!

So this time around I’d like to reach out to our readers who are first-time home buyers or are thinking of buying their first home (which is mostly my generation at this point!). I know many who read this blog know my mom and know Linda, and are on not their second home, but possibly even their third or fourth (or are buying houses as investment properties). I will need your help with this, but I will get to that a little later in my post!

So I had coffee a couple weeks back with my good friend Ginny Schider, who is a Mortgage Banker and who is helping me learn a little bit more about the ins and outs of financing for homes. One of my big concerns was that a grand majority of people my age are renters, who talk about one day finding the home of their dreams but who feel they are unable to afford costly down-payments.

”My generation has been really put through the ringer,” I said to Ginny over a warm spiced chai “especially for those of us who graduated during the economic fall around 2008. A lot of my friends work food service and have to deal with student debt. It kind of feels like owning a home is so far out of reach.”

Then Ginny smiled at me and said “You know there is down payment assistance for first time homebuyers as well as grants that they can receive to aid in the purchase of their first home.”

This immediately sparked my interest as I was fully aware that buying a home for the first time can be so overwhelming, and with most of my friends working at coffee shops, restaurants, and retail; going from an apartment to a house/condo can seem like a blind leap into the abyss of added debt. So I inquired further about these payment assistant programs that are geared toward helping people in the position of purchasing their first home. One of which works similar to a grant (and for those of us who have had to pay for college, grants are a pretty sweet deal!)

Ginny told me that about her own company offering a grant (The PRM Platinum Purchase Program) which can cover up to 5% of the loan on purchasing a property. This could help pay for down payments and even closing costs, which can come across as a little daunting at first. This particular grant is provided by her company; Pacific Residential Mortgage. After mentioning this, she and I spoke further on various tools available for new home buyers (though existing home owners are eligible for this grant as well). She also mentioned two programs that are geared toward offering assistance for anybody within Clackamas County: Clackamas Homebuyer Assistance Program (CHAP) and NCRA which is a program that works with licensed lenders to loan up to $14,000 to help pay for down payments and closing costs (though she later told me that these assistance programs are not grants, because you later pay them back when you sell the house). These assistance programs are provided via the community rather than that of her company and are only available for first-time home buyers.

Now I know that so far I have come across as a little gimmicky, and I’ll be completely honest about it: I’ve been writing about assistance programs and grants to help spark interest in making that push toward purchasing a home. But you know what? Buying your first home IS scary, it IS difficult, it can be overwhelming, and these assistance programs are meant to help cushion the blow so that more people can add home ownership to their assets. Being a homeowner is a very important boon to your own personal worth as that property is yours. Everybody wants the home of their dreams and financing it makes up the grand majority of achieving that goal, so it is really nice that there are tools out there to help.

So now I am going to wrap up my blog post by asking our experienced readers out there to share a little bit about their own first-time home buying experience! We may not get very many posts as some may feel shy, but that is alright! I think it is important to hear that we have all been in the same boat with taking on the pins and needles sensation of buying a first home, and I would like to share to help our new home buyers know that they are not alone!

For more information on home buying assistance please feel free to send me an e-mail!
WhitneyGregoire@OregonFirst.com

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Market Activity November 17th to the 23rd

Looks like things aren’t slowing down even in the late fall. We have twelve brand new listings here in Lake Oswego, fourteen pending properties, and seventeen sold homes! Looks like this is a very busy start to the holidays.

Following is the breakdown for you according to RMLS:

New on the Market (Nov 15-23, 2014)

Address Type Price Bedrooms Bathrooms Sqft 47 EAGLE CREST DR #40 CONDO 89,500 1 1 696 4 TOUCHSTONE #78 CONDO 164,900 3 2.5 1351 1803 BOCA RATAN DR ATTACHED 297,000 2 2.5 1739 5048 TREE ST DETACHED 310,000 3 1.5 1232 16470 BRYANT RD DETACHED 324,900 3 2 2024 19211 TERRY AVE DETACHED 370,000 4 2 1872
6435 FROST ST DETACHED 529,000 4 2.5 2627 17850 PILKINGTON RD DETACHED 585,000 3 2.5 3222 197 FURNACE ST S 3s CONDO 699,000 2 2.5 2091 18375 RIVER EDGE LN DETACHED 897,950 4 2.5 3404 1874 GLENMORRIE TER DETACHED 939,000 3 3 3858 19320 LORNA LN DETACHED 1,100,000 4 3.5 4192

Pending Sales (Nov 17-23, 2014)

Address Type Price Bedroom Bathrooms Sqft DOM 4619 LAKEVIEW BLVD D-3 CONDO 92,000 1 1 753 28 43 CRESTFIELD CT CONDO 107,500 2 1 923 27 98 OSWEGO SMT CONDO 129,900 2 2 1140 152 7140 SW CHILDS RD DETACHED 275,000 3 1 2032 149 16442 SW KIMBALL ST DETACHED 350,000 3 1 1200 45 17520 REDFERN AVE DETACHED 350,000 3 2 1776 11
16998 GREENTREE AVE DETACHED 393,500 4 2.5 2392 161
17225 CHAPIN WAY DETACHED 395,000 3 2 2257 119
1318 LAUREL ST DETACHED 439,900 3 2.5 1649 2
47 DA VINCI ST DETACHED 475,000 3 2.5 2445 112
17821 HILLSIDE WAY DETACHED 589,000 4 3.5 3442 44
571 2ND ST CONDO 589,500 2
2 1561 18 531 LAUREL ST DETACHED 649,900 4 3.5 2771 212 15444 BOONES WAY ATTACHED 850,000 3 2.5 3464 4

Sold/Closed (Nov 17-23, 2014)

Address Type List Price Close Price Sqft DOM 44 EAGLE CREST DR #15 CONDO 89,900 85,000 798 197 272 CERVANTES CONDO 139,900 127,000 1209 234 45 EAGLE CREST DR #409 CONDO 155,000 153,000 1214 4 18543 DON LEE WAY DETACHED 260,000 250,000 924 49 5326 W SUNSET DR DETACHED 259,900 259,900 754 3 16200 PACIFIC HWY #35 CONDO 299,000 275,000 1208 268
92 GREENRIDGE CT #92 ATTACHED 348,000 335,000 1980 14
475 8TH ST DETACHED 375,000 365,000 960 0
20 AQUINAS ST DETACHED 410,000 385,000 1814 33
1530 LARCH ST DETACHED 469,000 439,875 2384 22
886 9TH ST DETACHED 465,000 450,000 860 3
132 MIDDLECREST RD DETACHED 495,000 495,000 1617 0
4125 WOLF BERRY CT DETACHED 529,900 529,000 2824 1
13639 TWIN CREEK LN DETACHED 675,000 650,000 3202 87
2335 OSWEGO GLEN CT DETACHED 995,000 850,000 3932 167
14122 GOODALL RD DETACHED 969,000 930,000 4530 331
678 8 ST DETACHED 1,050,000 1,050,000 2900 1
16650 FIR LN DETACHED 1,279,000 1,200,000 3860 57

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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Happy Thanksgiving!

Happy and Safe Thanksgiving

Today is a very wonderful holiday, not only for us as friends and family but also for homes and houses. Today we give thanks for all the many things that we are blessed with in our lives while we celebrate a patronage that has been on-going in our culture since as early as 1621.
Why is this important for our homes and houses? Because the very thought of Thanksgiving throughout the year attributes to our many reasons to wanting to be home owners. When we look at a house we see ourselves in that house as well as imagine our friends and family. Thanksgiving is a very good reason why we’d lean toward a more open kitchen or larger dinning room. Our homes express our lives and our lives are enriched with the people that we are gifted to be around, and a home that suits our experiences through the many holidays is an asset not only for our wealth in money but in happiness and fulfillment.
This Thanksgiving I would like to give thanks to all those homeowners out there who are right now hosting their family gatherings in their kitchens, livingrooms, dinning rooms, and entertainment rooms. Who have found the house of their dreams and spent the last week sprucing it up for their guests. Thank you hosts and homeowners!

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A little bit about mold

Hello everybody,

Whitney here! I’m posting this a little late, I apologize. It has been the week of catching colds!

Speaking of colds; I hope everybody is getting ready to weather through the winter, whether you are hunkering down and dealing, or going out there and enjoying the many things this season has to offer! During this change we close our windows and turn up the heat while outside it begins to fall ever-so-slightly into frigid chilliness.

This however means that our houses are not going to be as ventilated as they where during the spring and summer months, which can lead to mold.

How do you get mold?

Mold spores are often in the air already, and are supposed to grow outside when given the right circumstances. It is when it comes indoors that it becomes a problem. Mold kind of likes the same living space that we do: not to cold, not to hot, lots of water, and a comfy area that is free of drastic changes in the weather.

Any place that is moderate in temperature, damp, and unventilated runs the risk of accumulating mold. To put it bluntly: Everything in your house is mold food.

So how do you get rid of mold?

Controlling an areas moisture is essential to your artillery of defense against mold. For without ample amounts of water mold cannot grow. To do this you can simply ventilate your bathrooms, kitchen, and area where you keep your washer and dryer. Any place where you have water going in the house needs to be open, aired out, and cleaned frequently.

But how do you do this when it’s freezing cold outside?

Making sure that your bathroom ventilation is working properly is pretty important, as are the vents leading from your washer/dryer to the exterior of your home. In a pinch, if you feel that your home’s ventilation is not up to speed with the rate you feel you are at risk of mold: then you can purchase a dehumidifier from any major appliances store.

Anyway, that is my little tid bit about mold! I do hope your fall season has been vibrant, safe, and fun!

If you are interested in knowing more about mold, types of mold, and preventative steps to eliminating mold in your home; you can follow the link below. It has helped me learn a lot.

Bibliography:

Salem, Oregon Mold Information

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Market Activity Oct 27- Nov 2, 2014

Wow! What a great month, and now November has started with a bang! Ten active listings have appeared here in our lovely Lake Oswego, while twenty are now pending, and twenty one have been sold!

Looks like there will be some new families in town enjoying their Thanksgiving in their new homes.

New on Market (Oct 27- Nov 2, 2014)

Address Type Price Bedrooms Bathrooms Sqft
706 5TH ST DETACHED 300,000 4 2 1824
21 SUMMIT RIDGE CT ATTACHED 339,000 2 2.5 1654
17225 CHAPIN WAY DETACHED 395,000 3 2 2257
32 SPINOSA DETACHED 479,000 4 3.5 2542
3870 SOUTHSHORE BLVD DETACHED 495,000 3 2 2616
17619 POTTERS RD DETACHED 575,000 4 2.5 2665
571 2ND ST CONDO 589,500 2 2 1561
13983 WESTCOTT CT DETACHED 649,900 4 2.5 2792
5157 WOODCREST LN DETACHED 649,900 4 2.5 3144
2550 SOUTHSHORE BLVD DETACHED 650,000 4 3.5 3721

Pending Sales (Oct 27- Nov 2, 2014)

Address Type Price Bedroom Bathrooms Sqft DOM
4 TOUCHSTONE DR #99 CONDO 159,000 2 2 984 6
900 CORNELL ST DETACHED 240,000 3 1.5 1300 26
6243 SW DAWN ST DETACHED 314,000 3 1.5 1254 89
92 GREENRIDGE CT #92 ATTACHED 348,000 3 2.5 1980 14
5344 TUALATA CT DETACHED 349,355 3 2 1263 11
4470 CHAPMAN WAY DETACHED 360,000 3 3 2125 174
4631 WILDWOOD ST DETACHED 389,900 3 2 1650 68
1878 MAPELEAF RD DETACHED 395,000 3 1.5 1347 28
13197 THOMA RD DETACHED 399,900 3 1.5 1640 22
2051 GREENTREE RD DETACHED 419,900 3 2.5 1864 98
18431 DEER OAK AVE DETACHED 439,900 4 2.5 2203 68
4726 CAMBRIDGE CT ATTACHED 595,000 3 2.5 2868 9
531 LAUREL ST DETACHED 649,900 4 3.5 2771 190
13639 TWIN CREEK LN DETACHED 675,000 5 2.5 3202 87
4090 WESTBAY DETACHED 749,900 3 2 2078 59
3600 SOUTHSHORE BLVD DETACHED 824,900 3 2.5 2117 83
841 NORTHSHORE RD DETACHED 889,850 3 3 2388 140
5055 LAKEVIEW BLVD DETACHED 890,000 4 3.5 3498 28
2335 OSWEGO GLEN CT DETACHED 899,000 4 4 3932 167
3411 LAKE GROVE AVE DETACHED 999,999 4 3.5 4434 177

Sold/Closed (Oct 27- Nov 2, 2014)

Address Type List Price Close Price Sqft DOM
86 KINGSGATE RD C102 CONDO 131,000 128,000 924 4
45 EAGLE CREST DR #218 CONDO 135,000 128,500 768 142
15938 QUARRY RD B15 CONDO 144,500 146,570 996 45
10 CERVANTES CIR CONDO 149,900 149,900 912 14
1531 BONNIEBRAW DR CONDO 244,900 239,900 1303 74
15930 WALUGA DR DETACHED 200,000 240,000 1040 149
5530 BONITA RD DETACHED 269,900 263,500 1200 32
17299 LAKE HAVED DR DETACHED 275,000 295,000 925 5
5665 WASHINGTON CT DETACHED 447,500 323,500 1928 101
1 EAGLE CREST DR DETACHED 326,000 324,000 1265 18
3225 TEMPEST DR DETACHED 448,000 448,000 2231 106
1110 HALLINAN CIR DETACHED 575,000 450,000 3824 286
1001 BULLOCK ST DETACHED 499,900 455,000 2008 50
17554 BLUE HERON WAY DETACHED 475,000 475,000 2000 0
5023 HAMPTON CT DETACHED 509,900 487,000 2284 151
2425 GLEN HAVEN RD DETACHED 499,900 511,100 2231 3
12402 SHELBY CT DETACHED 599,000 544,000 3120 74
3 WALKING WOODS DR DETACHED 575,000 575,000 3853 86
18910 TERRY AVE DETACHED 638,800 580,000 4290 73
15470 BOONES WAY ATTACHED 897,000 850,000 3515 101
17442 RIDGEVIEW LN DETACHED 1,375,000 1,325,000 5036 198

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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Louisiana Pacific Siding (LP Siding)

Hello everybody,
I have had my license for almost two months now, and I have learned quite a bit! Today what I am going to talk about is LP siding.
My first clients (as it turns out are my cousin and her husband) have just recently made an offer on a condo. In the weeks leading up to their decision we saw everything from houses, town houses, and other condos. When they first found a house I remember my mother saying:

”Oh… they have LP siding.”

Now let me explain why my mother was hesitant about LP siding, before I go into the decided verdict:
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Louisiana Pacific (LP) is a company that was founded in 1973 in Tennessee. This company pioneered the production of oriented strand board (OSB) panels. Which was an alternative to the more expensive plywood and solid wood building materials. OSB panels where sold to building manufacturers and homeowners all across the US.
To make OSB panels Louisiana Pacific would harvest small diameter, faster growing timber rather than old growth, and send the cheaper timber through processing to become wood chips. They would then mix the wood chips with glue and set it into a mold to fit the desired diameter for construction. This saved on time and cost, not to mention LP’s OSB panels where easy to install!
In 1985 OSB panels hit the Northwest markets and where the desired material used to construct siding. Many homes where made with LP’s OSB panels as it was inexpensive, quick, and uniform looking. Unfortunately for us up here in the North West, our climate was not factored into the longevity of the panels, made from woodchips and glue, and years later these OSB panels started to disintegrate. One of the major concerns for homeowners and buyers was that the panels would not only sag into clumps of mush along the exterior of their home, but that the mush would rot and host mold and fungus; later requiring a lot more effort to remove then to install the panels themselves initially.
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From 1990 to 2000, LP’s OSB panels where installed into nearly every new construction: as contracting companies where usually outsourced and received their orders to build from out of state, so many companies would use LP siding in an effort to conserve funding. This flourishing action of business can be used to date homes with LP siding within the ranges of the late 1980s all the way through the late 1990s.
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So let’s revisit that moment when my mother and I are standing in the driveway of the first home that we showed to my cousin and her husband: The point where we look over the house and notice the little nit-picky things to ensure that the buyer is well-informed about what it is they are likely to purchase. The home was built in 1998 and very clearly had LP siding. LP siding is easy to spot due to its pattern: there is a token ‘wooden knot’ looking print that is used over, and over again on LP planks to make it look like actual lumber. When we brought this up with my cousin we explained the draw-backs of having LP around the exterior of the house. However, this particular house was very well managed. This home had received a good paint job, which ensured that water did not get past the paint to affect the planks. Keep in mind: paint does age just as the rest of the house would, and in the future would require a thorough, waterproof, exterior paint job or complete exterior replacement. One of our suggestions we made for my cousin was to provide a low offer so that they could get the house at a fair price and spend some money on replacing the LP siding.
All in all, LP is not the greatest external material here in the North West. It does well in climates that are dryer and provide low threat for mold or fungus. Though we do not have nearly as much of a threat in mold as other states do (Texas being the leading state for issues involving mold). The North West still deals with fungus, and above all rain, rain, rain, and more rain!

Thank you for reading along with me. I look forward to sharing more with you in the future!

Loving life in Lake Oswego,
Whitney Gregoire

Bibliography:
http://www.homeadvisor.com/article.show.Top-10-Worst-States-for-Mold.14164.html
http://hometownexteriordesigns.com/lp_siding.php
http://en.wikipedia.org/wiki/Louisiana-Pacific