This gem turned up on my Facebook feed today: a boat tour of Oswego Lake circa 1987. Much remains (Lake Corporation Building, Jansen Island, The Cabanas), but so much has changed. Most of the tiny houses have been replaced by large mansions. It’s a fun visit to see how it was.
Market Activity September 2-8, 2024
Last week in Lake Oswego there were 17 properties that came onto the market. Of those, 3 sold quickly and appear in this report as pending sales. There were a total of 17 pending sales and 11 that completed escrow and now considered to be sold. Again, the market remains very balanced.
See below for RMLS data.
New on the Market September 2-8, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet |
| 45 Eagle Crest Dr #313 | Condo | $249,900 | 2 | 1.5+.5 | 1056 |
| 4 Touchstone #117 | Condo | $285,000 | 2 | 2 | 984 |
| 4 Touchstone #147 | Condo | $349,950 | 3 | 2.5 | 1351 |
| 4055 Jefferson Pkwy | Condo | $379,900 | 3 | 2.5 | 1210 |
| 6313 Alyssa Terr | Attached | $500,000 | 3 | 2.5 | 1534 |
| 27 Oriole Ln | Detached | $675,000 | 4 | 2.5 | 1851 |
| 5316 Lower Dr | Detached | $775,000 | 4 | 2.5 | 2016 |
| 23 Tanglewood Dr | Detached | $849,900 | 5 | 2.5 | 2522 |
| 855 Palisades Terrace Dr | Detached | $859,999 | 4 | 2.5 | 2221 |
| 1507 Cedar St | Detached | $1,249,000 | 3 | 2.5 | 2590 |
| 111 Ladd St | Detached | $1,250,000 | 3 | 2.5 | 2303 |
| 5718 Meadowcreek Ct | Detached | $1,580,000 | 5 | 4 | 3024 |
| 3131 Westview Ct | Detached | $1,986,000 | 4 | 4.5 | 4597 |
| 310 Chandler Pl | Detached | $2,595,000 | 4 | 3.5 | 3909 |
Pending Sales September 2-8, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet | DOM |
| 4638 Lower Dr | Condo | $299,900 | 2 | 1.5 | 1260 | 45 |
| 101 Oswego | Condo | $300,000 | 2 | 2 | 1212 | 36 |
| 4652 Lower Dr | Attached | $395,000 | 2 | 1.5 | 1170 | 23 |
| 5225 Jean Rd #312 | Condo | $415,000 | 2 | 2 | 1400 | 49 |
| 110 Greenridge Ct | Attached | $549,900 | 3 | 2.5 | 2868 | 74 |
| 4324 Woodside Cir | Attached | $579,000 | 2 | 2 | 1210 | 5 |
| 1419 Greentree Cir | Detached | $694,000 | 4 | 3 | 2250 | 6 |
| 45 Hillshire Dr | Detached | $749,900 | 3 | 2.5 | 2016 | 71 |
| 610 Boca Ratan Dr | Detached | $839,000 | 4 | 2 | 2566 | 115 |
| 4661 Trillium Woods | Attached | $925,000 | 3 | 2.5 | 2265 | 31 |
| 14190 Amberwood Cir | Detached | $1,000,000 | 4 | 3 | 3154 | 0 |
| 5552 Yorkshire Pl | Detached | $1,150,000 | 4 | 2.5 | 2637 | 9 |
| 15203 Lily Bay Ct | Detached | $1,350,000 | 4 | 2.5 | 3216 | 4 |
| 2990 Glen Eagles Rd | Detached | $1,495,000 | 4 | 2.5 | 3787 | 3 |
| 17288 Cedar Rd | Detached | $2,595,000 | 3 | 3 | 4267 | 75 |
| 17930 Kelok Rd | Detached | $3,149,900 | 5 | 3.5+.5 | 4715 | 41 |
| 1031 Sunningdale Rd | Detached | $4,400,000 | 5 | 5.5 | 5322 | 37 |
Sold/Closed September 2-8, 2024
| Address | Type | List Price | Sold Price | Sq Feet | CDOM |
| 220 Cervantes C | Condo | $329,500 | $329,500 | 1378 | 17 |
| 86 Kingsgate Rd C-201 | Condo | $345,000 | $345,000 | 938 | 4 |
| 668 McVey Ave #58 | Condo | $835,000 | $650,000 | 992 | 137 |
| 32 Nova Ct | Detached | $649,900 | $655,000 | 2190 | 1 |
| 2405 Knaus Rd | Detached | $785,000 | $695,000 | 1685 | 44 |
| 18421 Indian Creek Dr | Detached | $748,000 | $748,000 | 1836 | 13 |
| 13551 Southwood Ct | Detached | $1,175,000 | $1,090,000 | 3217 | 56 |
| 17129 Kelok Rd | Detached | $2,395,000 | $2,100,000 | 2896 | 19 |
| 1237 Lake Front Rd | Detached | $2,795,000 | $2,769,000 | 3378 | 20 |
| 2260 Summit Ct | Detached | $3,495,000 | $2,872,500 | 3797 | 390 |
| 17227 Canal Cir | Detached | $4,450,000 | $3,519,000 | 4720 | 176 |
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.
Emergency Preparedness Fair
Mark your calendars for Thursday, September 5th, 5 to 7pm. This free event is designed to help you and your family be prepared for emergency events such as earthquakes, floods, winter storms, and other disasters. As far off as these sorts of events may seem. They do happen.
My family and I went through a terrible winter storm last January. Our house lost power for 5 days when temperatures were a low a 16 degrees and didn’t get above freezing for 3 days straight. It was tough, but we got through it while remaining in our home to safeguard it from freezing pipes and to care for our pets. With proper equipment, we did fine.
This week’s Emergency Preparedness Fair will feature 20 booths plus programs and activities. This year will include The Big Shaker, the world’s largest mobile earthquake simulator. The Pacific Northwest is overdue for “the big one”. The area has a history of magnitude 9 earthquakes. It has happened here, and it will again.
Now is the time to think about and plan for these events. This is a great opportunity to prepare yourself and your family. The event will take place at city hall, 380 A Avenue.
Dianne
Market Activity August 19-25, 2024
As I have observed several times this summer, the real estate market in Lake Oswego remains very balanced with nearly equal numbers of properties entering the market as are selling. It’s a good time to both buy and to sell.
Last week in Lake Oswego we had 16 new listings come onto the market, 15 properties that accepted offers and went pending, and 14 closed sales.
See below for RMLS data.
New on the Market August 19-25, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet |
| 100 Kerr Pkwy #8 | Condo | $182,950 | 1 | 1 | 617 |
| 3433 McNary Pkwy 3303 | Condo | $299,500 | 2 | 2.5 | 1208 |
| 280 Cervantes | Condo | $395,000 | 2 | 2 | 1050 |
| 17681 Leafy Ln | Detached | $775,000 | 5 | 3 | 2242 |
| 12850 Alto Park Rd | Detached | $799,900 | 2 | 1.5 | 1147 |
| 16061 Waluga Dr | Detached | $799,900 | 1 | 1 | 676 |
| 4513 Oakridge Rd | Attached | $829,900 | 3 | 2.5 | 1974 |
| 18790 Bryant Rd | Detached | $875,000 | 3 | 2.5 | 2489 |
| 17701 Overlook Cir | Detached | $999,000 | 5 | 3 | 2864 |
| 18894 Bryant Rd | Detached | $1,249,000 | 4 | 4.5 | 4302 |
| 15468 Boones Way | Attached | $1,295,000 | 4 | 2.5 | 2401 |
| 990 Lund St | Detached | $1,695,000 | 4 | 3.5 | 3115 |
| 768 7th St | Detached | $1,895,000 | 3 | 3.5 | 2921 |
| 429 6th St | Detached | $1,895,000 | 4 | 2.5 | 3205 |
| 14400 Uplands Dr | Detached | $2,198,000 | 3 | 2.5 | 4267 |
| 13581 Goodall Rd | Detached | $3,450,000 | 4 | 4.5 | 5141 |
Pending Sales August 19-25, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet | DOM |
| 86 Kingsgate Rd C-201 | Condo | $345,000 | 2 | 2 | 938 | 4 |
| 1784 Bonniebrae Dr | Attached | $495,000 | 2 | 1.5 | 1393 | 11 |
| 12886 Boones Ferry Rd | Condo | $499,900 | 2 | 2.5 | 1182 | 11 |
| 5170 Lakeview Blvd | Detached | $695,000 | 3 | 2 | 1771 | 46 |
| 710 Timberline Dr | Detached | $775,000 | 4 | 3 | 2642 | 81 |
| 1419 Hemlock St | Detached | $799,000 | 5 | 3 | 2520 | 17 |
| 1620 Oak St | Detached | $950,000 | 3 | 2 | 2152 | 3 |
| 137 Furnace St | Condo | $1,595,000 | 3 | 2 | 1927 | 76 |
| 2120 Glenmorrie Dr | Detached | $1,699,000 | 4 | 3.5 | 4293 | 60 |
| 16337 Chapin Way | Detached | $2,095,000 | 5 | 4.5 | 5115 | 156 |
| 4688 Upper Dr | Detached | $2,150,000 | 4 | 3.5 | 3962 | 26 |
| 1515 Cherry Ln | Detached | $2,150,000 | 5 | 4.5 | 5719 | 83 |
| 535 Middlecrest Rd | Detached | $2,198,000 | 3 | 2.5+.5 | 2872 | 14 |
| 18015 Cardinal Dr | Detached | $3,674,900 | 4 | 3.5+.5 | 4119 | 201 |
| 1750 Northshore Rd | Detached | $4,750,000 | 3 | 2.5 | 3302 | 76 |
Sold/Closed August 19-25, 2024
| Address | Type | List Price | Sold Price | Sq Feet | CDOM |
| 45 Eagle Crest Dr $422 | Condo | $295,000 | $265,000 | 1348 | 69 |
| 4438 Thunder Vista Ln | Condo | $453,000 | $370,525 | 2040 | 107 |
| 102 Oswego Summit | Condo | $375,000 | $375,000 | 1506 | 1 |
| 5 Bloch Ter | Attached | $599,000 | $564,000 | 1971 | 57 |
| 5314 Tualata Ct | Detached | $815,000 | $785,000 | 24444 | 6 |
| 16849 Lakeridge Dr | Detached | $875,000 | $815,000 | 2208 | 53 |
| 17654 Cardinal Dr | Detached | $1,195,000 | $870,000 | 2042 | 150 |
| 20 Othello St | Detached | $950,000 | $942,000 | 2160 | 19 |
| 16792 Quail Ct | Detached | $1,275,000 | $1,237,000 | 3222 | 27 |
| 139 Del Prado St | Detached | $1,615,000 | $1,325,000 | 2935 | 150 |
| 14360 Amberwood Cir | Detached | $1,250,000 | $1,365,000 | 2845 | 2 |
| 16915 Greentree Ave | Detached | $1,499,950 | $1,425,000 | 2791 | 34 |
| 469 7th St | Detached | $1,875,000 | $1,595,000 | 4350 | 149 |
| 529 8th St | Detached | $2,400,000 | $2,275,000 | 3569 | 246 |
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.
Nothing So Certain As Change
If you are paying attention to the headlines, you know that a big change happened in the Real Estate industry that went into effect last Saturday. It was the culmination of a lawsuit brought by the Department of Justice against the National Association of Realtors and several of the largest National Real Estate Brokerages.
The gist of the lawsuit was that the traditional method of agents who represent buyers to be paid resulted from the listing contract between the listing agent and the seller of a home. The Department of Justice determined that this was price fixing because it excluded the buyer from having any influence on the commission that their agent was paid. The courts agreed and in May a fine of 418 million dollars was imposed upon the defendants.
How does this affect you? It’s going to have a big impact when you buy or sell a home.
When you sell a home, your Realtor can not provide any information in the Multiple Listing Service that indicates whether or not you are willing to pay the buyer’s agent commission. I suppose that means that you could benefit because you only need to agree to pay your Realtor that you have hired to sell your property. Sounds pretty good, right? However you need to consider the situation that most buyers are in. They’re the folks who have to have enough money to pay their down payment and their closing costs. That is a big sum of money. Most buyers are pushing themselves financially to come up with these funds. As a seller, you are likely enjoying years of equity that has built up in your home. At the time of selling, you will be flush with cash, in most cases. Paying the buyer’s agent commission is likely more affordable for the seller than it is for the buyer.
As a buyer, you will have to enter into a contract with your buyer’s agent in which you agree to pay your Realtor. Being a Realtor is not a charity situation. Realtors need to know that they will be paid. If a seller declines to pay the buyer’s agent, the buyer will need to do so. So be prepared to financially plan to pay a buyer’s agent commission. That commission is negotiable and is between you and your Realtor.
From my perspective, I think that this new law will be very hard on buyers: particularly first time home buyers. That entry level market is already the most competitive and the most likely to involve multiple offers. The typical first time buyer is putting down a very small down payment. That already bodes badly for them when they are competing against investors who have large down payments or all cash. Now imagine that the seller has several offers and they are determining which brings them the most benefit. Are they going to go with the offer with a small down payment who also asks them to pay the buyer side commission? Nope. Not when there is an offer that not only has more cash on the table but also doesn’t ask them to pay an extra commission.
Last, I want to mention that it is now against the law for a Realtor who is not representing the seller to show a houses to a buyer without a Buyer Broker Compensation Agreement. So if you are casually calling around and asking Realtors to show you houses, you are going to have to have a signed contract to get into any house that the Realtor is not the listing agent for.
There really is nothing so certain as change. We will all get used to working with these new rules. I do like that it puts the buyer side commission right up front and creates an honest conversation. I also think it is not good for entry level buyers, but we will figure this out. We can do it.
Dianne
Market Activity August 5-11, 2024
We really are in the dog days of summer. Rush hour is unusually light on the freeways, the weather has been perfect, it just feels like folks are enjoying vacationing and the languid days before school starts. This is reflected in last week’s real estate activity. Lake Oswego had 13 new listings, one of which sold quickly and appears in this report as a pending sale. 17 properties went into pending status, and there were 9 closed sales. Good numbers showing on-going real estate activity, but a bit down from recent previous weeks.
See below for RMLS data.
New on the Market August 5-11, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet |
| 12 Cervantes Cir | Condo | $325,000 | 2 | 1.5 | 912 |
| 12886 Boones Ferry Rd | Condo | $499,900 | 2 | 2.5 | 1182 |
| 16538 Carnegia Ave | Detached | $589,900 | 3 | 1.5 | 1189 |
| 5271 Chinook Ct | Detached | $675,000 | 3 | 2 | 1390 |
| 4661 Trillium Woods | Attached | $925,000 | 3 | 2.5 | 2265 |
| 782 Sunny Hill Dr | Detached | $1,145,000 | 3 | 2 | 2012 |
| 5982 Harrington Ave | Detached | $1,199,000 | 3 | 3 | 3106 |
| 3037 Tolkien Ln | Detached | $1,350,000 | 4 | 3 | 3159 |
| 570 Middlecrest Rd | Detached | $1,685,000 | 3 | 2 | 2213 |
| 2065 Lilli Ln | Detached | $1,750,000 | 6 | 3.5 | 4457 |
| 535 Middlecrest Rd | Detached | $2,325,000 | 3 | 2.5+.5 | 2872 |
| 17575 Crestline Dr | Detached | $3,975,000 | 5 | 4.5+.5 | 7240 |
Pending Sales August 5-11, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet | DOM |
| 47 Eagle Crest Dr #20 | Condo | $297,000 | 2 | 1 | 1009 | 23 |
| 4438 Thunder Vista Ln | Condo | $400,000 | 2 | 2.5 | 2040 | 107 |
| 121 Leonard St C | Condo | $485,000 | 3 | 2 | 1413 | 25 |
| 4421 Upper Dr | Detached | $639,000 | 3 | 1.5 | 1176 | 2 |
| 127 Ash St | Detached | $650,000 | 5 | 2.5 | 3211 | 142 |
| 5215 Bonita Rd | Detached | $803,000 | 3 | 2 | 1761 | 67 |
| 5314 Tualata Ct | Detached | $815,000 | 3 | 2.5 | 2444 | 6 |
| 5379 Greystoke Dr | Detached | $830,000 | 3 | 2 | 1917 | 6 |
| 17900 Westview Dr | Detached | $875,000 | 3 | 2 | 1960 | 87 |
| 3060 Glenmorrie Dr | Detached | $1,475,000 | 3 | 2 | 4183 | 68 |
| 16915 Greentree Ave | Detached | $1,499,950 | 3 | 3 | 2791 | 34 |
| 469 7th St | Detached | $1,595,000 | 4 | 3.5 | 4350 | 149 |
| 16873 Canyon Dr | Detached | $2,250,000 | 5 | 4 | 3789 | 42 |
| 16337 Chapin Way | Detached | $2,295,000 | 5 | 4.5 | 5115 | 137 |
| 2430 Summit Ct | Detached | $3,249,000 | 3 | 3 | 3035 | 128 |
| 1551 Lake Front Rd | Detached | $3,850,000 | 5 | 3.5 | 3519 | 45 |
| 17227 Canal Cir | Detached | $3,950,000 | 5 | 4.5 | 4720 | 59 |
Sold/Closed August 5-11, 2024
| Address | Type | List Price | Closed Price | SQ Feet | CDOM |
| 5057 Foothillls Dr #B | Condo | $469,000 | $395,000 | 1252 | 64 |
| 18308 Pilkington Rd | Detached | $595,000 | $545,000 | 1511 | 30 |
| 57 Condolea Ter | Condo | $675,000 | $725,000 | 2172 | 2 |
| 19428 River Run Dr | Detached | $1,075,000 | $975,815 | 2918 | 44 |
| 3899 Tamarack Ln | Detached | $950,000 | $980,000 | 2743 | 3 |
| 15930 Twin Fir Rd | Detached | $1,250,000 | $1,220,000 | 2463 | 17 |
| 13546 Peters Rd | Detached | $1,200,000 | $1,272,000 | 3036 | 3 |
| 13707 Fielding Rd | Detached | $1,550,000 | $1,380,000 | 3277 | 93 |
| 361 10th St | Detached | $2,949,900 | $2,733,000 | 3710 | 140 |
Protect Your Home From Fire
I don’t know how many of you lived in LO September of 2020, but the forest South of the Portland Metro area exploded in flames. LO was actually declared a Stage Three evacuation zone: meaning pay attention. Be ready to prepare to evacuate. I actually packed up my priority items and staged them next to my front door. It’s a funny thing, knowing you can only take what fits in your car.
My point is fires are a real threat in the US West. It’s our reality. The time to prepare is before there is an emergency and the Lake Oswego Fire Department is offering help. By going to www.lakeoswego.city/fire/wildfire-risk-prevention you can get information and sign up for a free home evaluation with the LO Fire Department.
Here are some basic tips that you can do now:
Clean your roof and gutters of flammable debris
Make sure any openings to your attic, like vents, are screened with 1/8″ or smaller screens
Cut back trees around your house to have a 10′ clearance from the structure
Keep your decks and porches free of flammable materials
Landscape your yard with fire resistant plants
Create a 5′ barrier around your house that is free of flamable materials
Keep your grass and weeds mowed to no taller than 4″
I think it’s about being fire aware. As you live in your home, as you landscape and make improvements, keep these tips in mind. And take advantage of the free home assessment offered by the LO Fire Department. What you do now can make a big difference later.
Market Activity July 22-28, 2024
Lots of real estate activity happened in Lake Oswego last week. There were 26 new listings. Of those, 5 sold quickly and appear in this report as pending sales. 20 properties entered into accepted contracts and moved to pending status. 14 properties concluded escrow and are now officially sold.
See below for RMLS data.
New Listings July 22-28, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet |
| 100 Kerry Pkwy #24 | Condo | $207,000 | 1 | 1 | 617 |
| 90 Galen St | Condo | $219,900 | 1 | 1 | 552 |
| 220 Cerventes | Condo | $329,500 | 2 | 2 | 1378 |
| 668 McVey #14 | Condo | $395,000 | 1 | 1 | 636 |
| 532 Chinook Ct | Detached | $575,000 | 3 | 1.5 | 1008 |
| 84 Kingsgate Rd | Detached | $699,900 | 3 | 2.5 | 1701 |
| 5172 Lakeview Blvd | Detached | $784,000 | 3 | 2 | 1438 |
| 4340 Chapman Way | Detached | $850,000 | 3 | 2 | 1567 |
| 17190 Robb Pl | Detached | $950,000 | 4 | 3 | 2320 |
| 6290 Carman Dr | Detached | $999,900 | 2 | 1.5 | 1828 |
| 124 D Ave | Attached | $1,150,000 | 2 | 2.5 | 1754 |
| 2004 Ridgewood Ln | Detached | $1,150,000 | 3 | 2.5 | 2631 |
| 3672 Tempest Dr | Detached | $1,295,000 | 3 | 3 | 3317 |
| 1920 Park Forest Ave | Detached | $1,379,000 | 3 | 3 | 2869 |
| 16610 Woodsman Ct | Detached | $1,475,000 | 4 | 3 | 3462 |
| 18034 Skyland Cir | Detached | $1,750,000 | 4 | 3.5 | 4003 |
| 19177 Hill Top Rd | Detached | $1,999,900 | 5 | 3.5 | 5168 |
| 2165 Ridge Pointe Dr | Detached | $2,189,000 | 5 | 4 | 4749 |
| 1131 Skyland Dr | Detached | $3,098,000 | 4 | 5.5 | 7189 |
| 951 Westpoint Dr | Detached | $5,900,000 | 6 | 4 | 4659 |
Pending Sales July 22-28, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet | DOM |
| 4 Touchstone | Condo | $300,000 | 3 | 2.5 | 1351 | 72 |
| 5 Bloch Ter | Detached | $575,900 | 3 | 2.5 | 1971 | 57 |
| 2818 Poplar Way | Detached | $599,000 | 3 | 1 | 1056 | 132 |
| 5170 Lakeview Blvd | Detached | $695,000 | 3 | 2 | 1771 | 12 |
| 875 Palisades Ter | Detached | $820,000 | 4 | 3 | 2181 | 2 |
| 5081 Greenborough Ct | Detached | $825,000 | 4 | 2.5 | 2142 | 71 |
| 16849 Lakeridge Dr | Detached | $825,000 | 4 | 2.5 | 2208 | 53 |
| 16441 Bonaire Ave | Detached | $865,000 | 4 | 2.5 | 1677 | 6 |
| 17654 Cardinal Dr | Detached | $885,000 | 3 | 2.5 | 2042 | 150 |
| 3899 Tamarack Ln | Detached | $950,000 | 4 | 2.5 | 2743 | 3 |
| 15213 Candlewood Ct | Detached | $995,000 | 4 | 2.5 | 2757 | 12 |
| 26 Morningview Cir | Detached | $999,999 | 3 | 4 | 3228 | 60 |
| 17 Westminster Dr | Detached | $1,180,000 | 5 | 2.5 | 2736 | 1 |
| 14360 Amberwood Cir | Detached | $1,250,000 | 4 | 2.5 | 2845 | 2 |
| 16792 Quail Ct | Detached | $1,275,000 | 4 | 2.5 | 3222 | 5 |
| 17200 Canal Ct | Detached | $1,379,000 | 3 | 2 | 1866 | 3 |
| 2060 Indian Trail | Detached | $1,575,000 | 3 | 2.5 | 2381 | 23 |
| 950 Lund St | Detached | $1,695,000 | 4 | 3.5 | 3098 | 125 |
| 2164 Goodall Ct | Detached | $4,600,000 | 4 | 6.5 | 6899 | 1 |
| 1475 Skyland Dr | Detached | $5,200,000 | 6 | 6.5+.5 | 8251 | 83 |
Sold/Closed July 22-28, 2024
| Address | Type | List Price | Sold Price | Sq Feet | CDOM |
| 5225 Jean Rd | Condo | $400,000 | $400,000 | 1200 | 12 |
| 668 McVey Ave | Condo | $515,000 | $515,000 | 636 | 56 |
| 51 Condolea Ct | Condo | $599,000 | $549,000 | 2198 | 143 |
| 5919 Kenny St | Detached | $590,000 | $600,000 | 1501 | 4 |
| 16317 Kimball St | Detached | $719,000 | $692,000 | 1461 | 24 |
| 2367 Glenmorrie Dr | Detached | $828,000 | $775,000 | 2732 | 149 |
| 4675 Oakridge Rd | Attached | $849,000 | $849,000 | 1801 | 4 |
| 1125 C Ave | Detached | $1,425,000 | $1,161,233 | 2574 | 37 |
| 18815 Green Bluff Dr | Detached | $1,579,000 | $1,300,000 | 4554 | 1 |
| 12 Buckingham Ter | Detached | $1,485,000 | $1,378,500 | 3667 | 27 |
| 1959 Wembley Pl | Detached | $1,595,000 | $1,400,000 | 2922 | 117 |
| 13562 Peters Rd | Detached | $1,665,000 | $1,410,000 | 3651 | 32 |
| 4929 Park Bluff Pl | Detached | $2,595,000 | $2,275,000 | 4067 | 165 |
| 4464 Lakeview Blvd | Detached | $2,998,000 | $2,500,000 | 3596 | 64 |
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
Buyer Beware: Shake Roofs
In the early years of my career, shake roofs were considered to be the premium roof that a person could put onto a house. Because of their thickness, they create more shadows that make the roof more interesting. Entire neighborhoods were constructed where shake roofs were a requirement of owning a house. The thought being that it made the entire neighborhood look better.
Then, a few years into my career, there was a horrific fire in Orinda, California. Entire neighborhoods were wiped out. It was very publicly acknowledged that the fire grew so big, and spread so fast, because of the shake roofs on most of the houses.
There was a very real change in how people looked at owning a house with a shake roof. Now, there is a new twist.
Two weeks ago, representing a buyer, I was involved in the sale of a home in Westlake that had a shake roof. My client and I discussed this roof at length, the additional fire hazard, but also the need for professional maintenance. My client loved the house and made an offer that was accepted.
That’s when the problem was discovered. We could not find an insurance company willing to write a home owner’s policy for the house because of the shake roof. It’s important that I point out that the roof was 20 years old. It had been beautifully maintained, including just recently, but insurance agents that we talked to said the cut off for insuring a shake roof is 20 years. If it were newer, they would insure it.
There have been so many horrific fires in the last 10 years or so. I can totally understand that insurance guidelines have been tightened as a result. I can not say that there is not an insurance company that would insure a 20 year old shake roof, we just had no luck finding one.
So it’s something to have on your radar when you are buying a house. It’s also something to have on your radar if you are planning to sell a house with a shake roof.
I hope that you have found this information useful,
Dianne
Market Activity July 8-14, 2024
Last week in Lake Oswego we had 19 properties come onto the market. Of those, 3 sold quickly and in this report appear as pending sales. There were 17 properties that accepted offers and are now pending, and there were 18 closed sales. The market continues to be very balanced between properties being list and being sold.
See below for RMLS data.
New on the Market July 8-14, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet |
| 4 Touchstone #114 | Condo | $285,000 | 2 | 2 | 993 |
| 200 Burnham Rd #202 | Condo | $395,000 | 2 | 2 | 1420 |
| 47 Oswego Summit | Condo | $395,000 | 2 | 2 | 1227 |
| 3962 Carman Dr | Condo | $410,000 | 2 | 2.5 | 1129 |
| 45 Eagle Crest #405 | Condo | $475,000 | 2 | 2 | 1269 |
| 121 Leonard St C | Condo | $499,900 | 3 | 2 | 1413 |
| 5 Grouse Ter | Detached | $899,900 | 4 | 2.5+.5 | 2527 |
| 20 Othello St | Detached | $950,000 | 3 | 2.5 | 2160 |
| 13305 Fox | Detached | $1,150,000 | 3 | 3 | 2498 |
| 2022 Ridgewood | Detached | $1,250,000 | 4 | 2.5 | 3024 |
| 18320 Delenka Ln | Detached | $1,300,000 | 4 | 2.5 | 4519 |
| 16176 Matthew Ct | Detached | $1,499,900 | 4 | 2.5 | 3474 |
| 15512 Quarry Rd | Detached | $1,950,000 | 6 | 4.5 | 3953 |
| 17322 Cedar Rd | Detached | $2,500,000 | 4 | 4 | 3214 |
| 1237 Lake Front Rd | Detached | $2,795,000 | 3 | 3 | 3378 |
| 18218 Meadowlark Ln | Detached | $2,995,000 | 5 | 6.5 | 8474 |
Pending Sales July 8-14, 2024
| Address | Type | Price | Bedrooms | Baths | Sq Feet | DOM |
| 82 Cervantes Cir | Condo | $234,997 | 2 | 1.5 | 912 | 38 |
| 203 Oswego Summit | Condo | $375,000 | 2 | 2 | 1506 | 1 |
| 668 McVey Ave #42 | Condo | $399,000 | 2 | 1 | 852 | 189 |
| 4401 Thunder Vista Ln | Condo | $498,500 | 2 | 2.5 | 2102 | 70 |
| 2 Mountain Cir | Attached | $539,900 | 2 | 1.5 | 1372 | 15 |
| 57 Condolea Ter | Condo | $675,000 | 2 | 2.5 | 2172 | 2 |
| 6435 Frost St | Detached | $700,000 | 3 | 2.5 | 1838 | 35 |
| 5802 Ridgetop Ct | Detached | $1,090,000 | 4 | 2.5 | 3160 | 4 |
| 4233 Chad Dr | Detached | $1,249,000 | 3 | 3 | 3403 | 18 |
| 15930 Twin Fir Rd | Detached | $1,250,000 | 3 | 2.5 | 2463 | 17 |
| 32 Independence Ave | Detached | $1,300,000 | 4 | 3.5 | 3277 | 11 |
| 18347 Lothlorien Way | Detached | $1,700,000 | 5 | 3.5+.5 | 3950 | 17 |
| 1115 Northshore Rd | Detached | $1,950,000 | 4 | 4.5 | 4306 | 7 |
| 745 Terrace Dr | Detached | $3,000,000 | 3 | 2.5 | 2708 | 30 |
| 15 Condolea Dr | Condo | $699,000 | 3 | 3 | 2643 | 3 |
| 3232 Lakeview Blvd | Detached | $5,850,000 | 4 | 0.5 | 8170 | 38 |
Sold/Closed July 8-14, 2024
| Address | Type | List Price | Closed Price | Sq Feet | CDOM |
| 44 Eagle Crest Dr #12 | Condo | $239,900 | $220,000 | 798 | 40 |
| 86 Cervantes Cir | Condo | $250,000 | $250,000 | 912 | 3 |
| 16841 Cortez Ct | Detached | $565,000 | $545,500 | 988 | 9 |
| 5 Condolea Dr | Condo | $599,000 | $597,200 | 2157 | 169 |
| 16284 Bonaire Ave | Detached | $685,000 | $751,500 | 1032 | 5 |
| 12123 Orchard Hill Way | Detached | $874,900 | $760,000 | 2841 | 351 |
| 1560 Cherry Crest Ave | Detached | $765,000 | $765,000 | 1808 | 6 |
| 4603 Heritage Ln | Detached | $795,000 | $800,000 | 1830 | 3 |
| 18020 Indian Creek Ave | Detached | $879,900 | $780,000 | 2177 | 63 |
| 18020 Royce Way | Detached | $1,200,000 | $1,095,073 | 2814 | 10 |
| 3320 Southshore Blvd | Detached | $1,335,000 | $1,102,500 | 2503 | 47 |
| 302 Furnace St | Detached | $1,499,000 | $1,600,000 | 1992 | 3 |
| 19626 Perch Ct | Detached | $1,899,000 | $1,800,000 | 3494 | 24 |
| 1122 Bayberry Rd | Detached | $2,100,000 | $2,080,000 | 3352 | 3 |
| 5292 Firwood Rd | Detached | $2,198,995 | $2,199,000 | 3580 | 4 |
| 3610 Eena Rd | Detached | $3,480,000 | $2,587,000 | 4128 | 466 |
| 18027 Eastridge Ln | Detached | $4,799,900 | $3,650,000 | 5034 | 591 |
| 1007 Lake Front Rd | Detached | $5,500,000 | $5,500,000 | 4342 | 49 |
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.