Where Did the Lake Go?

If you have driven anywhere near the lake in the last week or so you can not have helped but notice that the water level is down significantly. So what’s up?

Every 3 years the water level for the lake is dropped about 10 feet. This allows people who live on the lake to repair their sea walls, boat houses, and docks. It also allows maintenance to be done for the sewer lines that run along the bottom of the lake. This year a large section in Blue Heron canal is being almost completely replaced.

The drawdown starts in mid October and ends in early December. Then the lake is refilled by rainfall through the winter.

I will also say that, from my experience, it does and nice job of cleaning up the water quality. The lake is prone to grasses and algae and that sort of thing. The summer after a drawdown, swimming in the lake is much nicer than it is the summer before a drawdown.

So it’s all good. The lake will be full in time for the nice spring weather.

I hope you have found this information useful.

Dianne

Market Activity Oct 16-22, 2023

Lake week in Lake Oswego we had 9 properties come onto the market. 2 of those sold quickly and appear in this report as pending sales. We had 10 properties move to pending status and 14 closed sales.

See below for RMLS data.

New on the Market Oct 16-22, 2023

AddressTypePriceBedroomsBathsSq Feet
45 Eagle Crest Dr #208Condo$219,900221046
16131 Lindsay CtDetached$680,00042.51832
4740 Lamont CtDetached$825,000321776
19025 Indian Springs CirDetached$889,95042.51811
18368 Tamaway DrDetached$1,150,000433741
364 Northshore RdDetached$1,795,000322066
399 Furnace StCondo$3,500,00033.54072

Pending Sales Oct 16-22, 2023

AddressTypePriceBedroomsBathsSq FeetDOM
54 Cervantes CirCondo$280,00021.59125
3433 McNary Pkwy #503Condo$318,00021.511362
480 S State StCondo$375,000321659185
207 OswegoCondo$390,00022149717
3672 Spring LnCondo$439,90022111720
15290 Quarry RdDetached$475,0003199094
5733 Kimball CtDetached$659,00042134659
10 Sherwood CtDetached$949,00043.532892
3460 Lake Grove AveDetached$1,498,00032167330
1101 Crestline CtDetached$3,299,00044.5+.5722642

Sold/Closed Oct 16-22, 2023

AddressTypeList PriceSold PriceSq FeetCDOM
4 Touchstone #65Condo$320,000$310,000135153
2818 Poplar WayDetached$550,000$435,000105634
5054 Foothills Dr ACondo$445,000$445,000125234
15370 Twin Fir RdDetached$560,000$560,00015468
5053 W Sunset DrAttached$595,000$590,000172029
545 Hemlock StDetached$669,900$650,0009844
18351 Wood Thrush WayDetached$690,000$690,00017624
16 Walking Woods DrDetached$779,000$762,8662897109
1481 Greentree CirDetached$875,000$867,000270480
11 El Greco StDetached$899,000$892,00024442
2834 Glenmorrie DrDetached$895,000$927,00024593
885 Lake Forest DrDetached$1,100,000$937,000220645
4353 Snowbrush CtDetached$1,500,000$1,375,000380848
17173 Cedar RdDetached$1,900,000$1,725,0003996236

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.

Return on Investment: Your Yard

People certainly think about doing improvements to get their house ready to sell. Here at the blotter both Linda and I have written about what to expect from the money you spend and that the highest rates of return are, currently, on front doors and garage doors. You’ll get more out of those improvements than it costs to do them. However, I don’t think that we’ve talked about the return on investment for your yard. As it turns out, it’s quite good and certainly worth doing.

According to the National Association of Realtor, there are 5 outdoor projects that pay of the most.

  1. Standard lawn care service. Complete 6 standard applications of fertililzer and weed control on a 5,000 square foot lawn. Estimated cost = $415. Estimated return = $900
  2. Landscape maintenance. Mulch, mow, prune shrubs and plant about 60 annuals or perennials. Estimated cost = $4800. Estimated return = $5000.
  3. Outdoor kitchen. Install or inset grill, stainless steel drawers, ice chest sink, and concrete countertop with veneered masonry stone. Estimated cost = $15,000. Estimated return = $15,000.
  4. Overall landscape upgrade. Install front walkway of natural flagstone, add two stone planters, five flowering shrubs and a 15 foot tall tree. Estimated cost = $9000. Estimated return = $9000.
  5. New patio. Install a 18′ x 16′ concrete paver patio. Estimated cost = $10,500. Estimated return = $10,000.

There is also a lot to be said about doing your own weeding, watering, and bark dusting. This is labor intensive, but something many homeowners can do themselves. I think that the basic premise is that the more move-in-ready a house feels, the more appealing it will be to potential buyers.

I will also caution that there is a segment of the buying population who is intimidated by an overly elaborate garden. They know that it looks too labor intensive and will pass on a house that they don’t feel that they can maintain. So, yes, topiaries of the seven dwarfs is probably not a good idea.

Personally, outdoor spaces a super important to me. That patio that costs $10,500 but only returns $10,000, in my opinion, is pretty essential. Without a place to put some chairs and a barbeque, a yard becomes unusable. That patio, or a deck, is essential.

I hope that you have found this information useful. Happy gardening.

Dianne

Market Activity Oct 2-8, 2023

Last week in Lake Oswego there were 12 new listings, 2 of which sold very fast and appear in this report as pending sales. There were a total of 15 properties that accepted offers and moved to pending status (pretty good for October!), and there were 8 closed sales.

See below for RMLS data.

New on the Market Oct 2-8, 2023

AddressTypePriceBedroomsBathsSq Feet
45 Eagle Crest #220Condo$250,00011768
750 1st St E29Condo$350,00011986
16394 Lake Forest BlvdDetached$599,00021.51112
17903 Ridge Lake DrDetached$854,99942.52540
1177 C AveDetached$1,100,000321957
1 Creekside TerrDetached$1,185,000544230
14210 Amberwood CirDetached$1,200,000433391
4854 Upper DrDetached$1,375,000532879
13052 Knaus RdDetached$1,690,000433026
915 Cedar StDetached$1,695,00043.53219

Pending Sales Oct 2-8, 2023

AddressTypePriceBedroomsBathsSq FeetDOM
3433 McNary Pkwy #601Condo$325,00022.5128520
5225 Jean Rd #106Condo$400,00032140029
4093 Jefferson PkwyCondo$419,00022.5140348
114 Greenridge CtAttached$519,90032182474
668 McVey Ave #57Condo$549,00031.599239
2818 Poplar WayDetached$550,00031105634
15370 Twin Fir RdDetached$560,0003215468
51 Oriole LnDetached$589,0003212163
2834 Glenmorrie DrDetached$895,0002324593
13851 Verte CtDetached$939,00043292515
17144 Warren CtDetached$999,00042.528046
740 Pebble Beach CtDetached$1,050,0003217456
14205 Edenberry DrDetached$1,100,00032.5321916
1633 Maple StDetached$1,190,000333448122
503 Laurel StDetached$1,349,00043.53169115

Sold/Closed Oct 2-8, 2023

AddressTypeList PriceClosed PriceSQ FeetCDOM
4323 Lakeview BlvdDetached$550,000$561,000148335
5051 W Sunset DrAttached$620,000$620,000173412
4 Adams CtDetached$699,900$640,000228750
17503 Schalit WayDetached$759,900$755,15018014
4840 Dogwood DrDetached$1,125,000$800,000271695
1714 Greentree RdDetached$920,000$808,0003110190
14051 Chelsea DrDetached$1,300,000$1,350,00030221
650 1st StCondo$1,595,000$1,435,0002767101

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 Sept 25-Oct 1, 2023

With all of the jitters about the economy that is currently filling the news cycle, I am finding these market activity reports particularly important. The biggest trend I am seeing is that houses are simply taking a little longer to sell, but they are selling. And this week’s report I find encouraging. A healthy real estate market has balanced numbers: as many houses are coming on the market as a going pending and as are selling. Last week in Lake Oswego this was solidly the case. There were 13 new listings, 2 of which sold quickly and appear in this report as pending sales. There were 13 pending sales and there were 11 closed sales. This is extremely balanced. It’s not a seller’s market, it’s not a buyer’s market, it’s a solid market.

See below for RMLS data.

New on the Market Sept 25-Oct 1, 2023

AddressTypePriceBedroomsBathsSq Feet
207 Oswego SummitCondo$390,000221497
3672 Spring LnCondo$439,900221117
668 McVey Ave #42Condo$499,90021852
15370 Twin Fir RdDetached$560,000321546
640 Southshore BlvdDetached$760,00022.52391
17144 Warren CtDetached$999,00042.52804
740 Pebble Beach CtDetached$1,050,000321745
5330 Carman Grove LnDetached$1,100,00032.52493
16850 Cortez CtDetached$1,900,000443650
15112 Quarry RdDetached$1,950,00054.53953
13799 Atwater LnDetached$3,995,000344700

Pending Sales Sept 25-Oct 1 2023

AddressTypePriceBedroomsBathsSq FeetDOM
5054 Foothills Dr ACondo$445,0002212522
1720 Fernwood DrDetached$579,0003215605
15930 Waluga DrDetached$599,90031.5104010
18351 Wood Thrush WayDetached$690,0003217624
16266 Parker RdDetached$765,00042201466
1481 Greentree CircleDetached$875,00043270419
10 Independence AveDetached$1,150,00043.5419270
5955 Clairmont CtDetached$1,250,0005332921
3894 Tamarack LnDetached$1,499,00043.5403523
5220 Firwood RdDetached$1,999,00032.525075
611 Ridgeway RdDetached$2,099,00045.5484744
4247 Lords LnDetached$2,399,00043.53840102
956 Westpoint RdDetached$8,950,00044.5+.5+.55235111

Sold/Closed Sept 25-Oct 1, 2023

AddressTypeList PriceSold PriceSq FeetCDOM
16200 Pacific Hwy #29Condo$500,000$500,00012079
17825 Tualata AveDetached$535,000$540,000118211
47 GreenridgeCtAttached$534,900$550,00011762
1368 Boca Ratan DrAttached$610,000$592,5001683109
89 Kingsgate RdDetached$675,000$640,000171329
6062 Burma RdDetached$650,000$649,000187596
16 Aquinas StDetached$699,000$675,000172027
529 Livingood LnDetached$800,000$800,00021244
21 Aquinas StDetached$799,900$930,00025787
13880 Knaus RdDetached$1,500,000$1,375,000376258
2600 Glenmorrie DrDetached$2,298,000$2,175,000423213

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.

Featured Neighborhood: Rosewood

Lake Oswego has 25 unique neighborhoods, each of which has a panel of volunteers who help steer the direction of the neighborhood with the city and with the county. Today, I want to tell you about Rosewood.

Bounded on the West by Lakewood Blvd and 65th Ave, on the North by Jean Rd, on the East by Bryant Woods Nature Park, and on the South by Childs Rd, it is a neighborhood of quiet streets, large lots, and a mixture of housing. It contains Rivergrove Elementary School and Pilkington Park.

In the last 6 months 24 properties have been offered for sale: 2 are currently active listings, 3 are in pending status, and 19 are closed sales. The least expensive property is a pending sale that was built in 1964. Very dated and needing repairs, it is pending for $475,000. It has 3 bedrooms and 2 bathrooms within 1226 square feet. The most expensive house is new construction that is currently for sale. Listed for $2,300,000, it has 4129 square feet, 5 bedrooms and 4 bathrooms. The average list price is $733,095 and the average sold price is $742,117. Average market time is 21 days on the market.

If you like to get more information on Rosewood, click here.

I hope that this information is useful. As always, thank you for reading the blotter.

Dianne

Market Activity Sept 11-17, 2023

Fall is definitely in the air and the real estate market in Lake Oswego is transitioning into the typical ebbing of the season. We had 10 new listings last week, one of which sold quickly and appears in this report as a pending sale. We had 16 properties move to pending status and 13 closed sales.

See below for RMLS data.

New Listing Sept 11-17, 2023

AddressTypePriceBedroomsBathsSq Feet
45 Eagle Crest Dr #401Condo$278,00011768
3672 Spring LnCondo$450,000221117
12844 Boones Ferry RdCondo$489,00022.51191
51 Greenridge CtAttached$525,000221348
1975 Mapleleaf RdDetached$725,000422330
5097 Rosewood StDetached$775,00042.51920
13932 Sundeleaf DrDetached$1,449,00032.53068
47 Hillshire DrDetached$1,550,00042.53324
13084 Amber PlDetached$5,850,000335685

Pending Sales Sept 11-17, 2023

AddressTypePriceBedroomsBathsSq FeetDOM
100 Kerr Pkwy #42Condo$220,00021.582259
30 Cervantes CircleCondo$277,00021.5111222
92 Cervantes CircleCondo$279,00021.591293
3972 Carman DrCondo$395,00022.512255
4306 Botticelli StCondo$450,00022.5+.5204362
18521 Don Lee WayDetached$475,0003212262
47 Greenridge CtAttached$534,90021.599223
668 McVey Ave #57Condo$549,00031.599223
1795 Kilkenny Rddetached$568,00032144942
5053 W Sunset DrAttached$595,00022.5172029
5051 W Sunset DrAttached$620,00022.5173412
4 Adams CtDetached$675,00032.5228721
378 9th StDetached$1,250,00032.5201961
4688 Upper DrDetached$2,198,00043.5396214
7 Dover WayDetached$2,595,00055.57803106
445 Northshore RdDetached$3,195,00033.53066151

Sold/Closed Sept 11-17, 2023

AddressTypeList PriceSold PriceSq FeetCDOM
3876 Botticelli St #31Condo$355,000$360,000111027
2 Condolea DrCondo$469,000$464,00013128
12886 Boones Ferry RdCondo$475,000$475,75011828
49 Greenridge CtAttached$525,000$523,00015963
100 Greenridge CtAttached$525,000$535,00020046
5059 W Sunset DrAttached$649,000$587,500179453
85 Tanglewood DrDetached$599,000$630,00023231
15718 Murwood CtDetached$840,000$800,000198812
2401 Mayors LnDetached$900,000$845,000307630
2432 Park RdDetached$875,000$872,50023865
7 Cellini CtDetached$1,200,000$1,205,00035603
4230 Sunset DrDetached$1,699,000$1,600,000325024
18475 Crestline DrDetached$2,995,000$2,995,00049105

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

Lake Oswego Open Studios

Open studios is an annual event that I thoroughly enjoy. This year it will be the weekend of October 14th and 15th. It is a free event.

Basically, you have the opportunity to visit artists in their studio. As a person who dabbles in painting, I am so enthralled by seeing working studios of dedicated artists. I also appreciate meeting them and hearing their stories and learning about their techniques.

One year I met an artist who had suffered a very severe stroke. She had examples of her art from before her stroke along with her current work, after her stroke. There was such a striking difference, and the current work was so much more brilliant that the prior work. It was a memorable experience.

The artists also offer work to purchase. I pride myself that my home has all original art: no prints, no copies. Some of it is my own paintings and sculptures, but also the work of other artists. I love living amidst art!

For more details about Lake Oswego Open Studios, click here. For details about Portland Open Studios, click here.

Once again, thank you for reading the blotter.

Dianne

Market Activity Aug 28-Sept 3, 2023

Last week in Lake Oswego we had 9 properties come onto the market, 2 of which sold quickly and appear in this report as pending sales. We had 16 properties go into pending status and 17 sold/closed sales.

See below for RMLS data.

New on the Market Aug 28-Sept 3, 2023

AddressTypePriceBedroomsBathsSq Feet
284 CervantesCondo$365,000221052
16250 Pacific Hwy j#46Condo$449,000221305
16200 Pacific Hwy #29Condo$500,000221207
13349 Hidden Bay CtDetached$,1,100,000333012
14863 Twin Fir CtDetached$1,170,000432028
3894 Tamarack LnDetached$1,499,00043.54035
4688 Upper DrDetached$2,19800043.53962

Pending Sales Aug 28-Sept 3, 2023

AddressTypePriceBedroomsBathsSq FeetDOM
3433 McNary PdwyCondo$299,00022100838
4469 Golden LnCondo$420,00022.5200230
17825 Tualata AveDetached$535,00031.5118211
85 Tanglewood DrDetached$599,0004323231
6 The GrottoDetached$599,0003213811
1368 Boca Ratan DrAttached$610,00032168323
6062 Burma RdDetached$639,00052187596
107 Kingsgate RdDetached$674,9003215161
89 Kingsgate RdDetached$675,00032.5171312
16 Aquinas StDetached$698,00032.5172027
16 Walking Woods DrDetached
32.528976
13104 Rogers RdDetached$985,00042.528893
885 Lake Forest DrDetached$1,075,00043220611
353 3rd StAttached$1,195,00033.5204439
2600 Glenmorrie DrDetached$2,298,00043.5423213
807 Ellis AveDetached$3,600,00055526711

Sold/Closed Aug 28-Sept 3, 2023

AddressTypeList PriceSold PriceSq FeetCDOM
18 Britten CtAttached$649,900$630,000197256
16 Britten CtAttached$665,000$655,83219721
5050 Greentree RdDetached$799,900$735,000205249
5117 Greensborough CtDetached795,000$800,00016924
13388 Auburn CtAttached$839,500$800,000249248
412 Livingood LnDetached$998,900$935,000388033
17532 Oak Meadow LnDetached$1,299,900$1,225,000304635
1255 Bickner StDetached$1,350,000$1,275,000281725
17299 Lake Haven DrDetached$1,329,000$1,400,00026564
1888 Oak Knoll CtDetached$1,495,000$1,400,000302228
2301 Wembley Park RdDetached$2,100,000$2,007,500360023
15575 Village DrDetached$2,225,000$2,087,870316310
608 Cabana LnDetached$2,595,000$2,595,00020000
547 Northshore RdDetached$2,250,000$2,600,000376611
17264 Lake Haven DrDetached$2,600,000$2,600,00039110
1653 Lake Front RdDetached$6,998,000$6,998,00062740
4357 Southshore BlvdDetached$10,500,000$10,500,00051620

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 Housing Crisis

There is a housing crisis. Not just here in Oregon, but nationwide. Simply put, there are not enough houses being built. This first started with the Great Recession. Many builders and developers shut down for about 4 years. When the housing market rebounded, the builders and developers simply did not catch back up. I heard a panel of economists on a Bloomberg podcast about a year ago quote the statistic that to meet demand nationwide, 3,000,000 new housing units need to be built each year. These can be small apartments or mega mansions, the housing need is in every shape and size. At the time of the podcast, the average being built annually was 1,300,000: not even half of the demand.

New homes construction site

Our new Governor, Tina Kotek, has made construction of housing a top priority in her administration. To accomplish this, she is putting everything on the table, including revising, or perhaps even removing, tree ordinances. While I truly admire her willingness to open the conversation to every option, our stewardship of the environment is also a top priority for the citizens of this state. As you can imagine, it’s creating some real conversations (or should I say arguments?).

Steve Duin has written an excellent article on the subject that can be found at Oregonlive.com. To read it, click here. Interesting side note. I’ve been a big fan of the writings of Steve Duin for years. The Oregonian was a part of my daily routine and I always looked forward to Steve’s columns. Also, the very first house that I ever listed for sale in my real estate career was purchased by Steve. He still lives in that house.

To give you a summation of the article, he has in the past argued that the Urban Growth Boundary is part of the problem. In this article he admits to being taken to the woodshed by people who know better and that the real problem is not a lack of land, it’s a lack of infrastructure. Historically, infrastructure was subsidized by the Federal government. That financial support was eliminated by the Reagan administration. We have plenty of developable land currently within the UGB, trees and all, but the development costs are a huge obstacle to getting the housing built. I encourage you to read the article.

This is a bit off course from what I usually write. I hope that you have found it as interesting as I have.

Dianne