Author: Dianne Gregoire

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Least and Most Expensive

Back in March I wrote a post about affordable homes in Lake Oswego. My definition of affordable were homes priced under $350,000. At the time, March 28, 2008, there were 20 houses for sale in Lake Oswego priced at $350,000 or less. I compared that number to houses in Sellwood, a close-in neighborhood in Southeast Portlnad, where at the same time there were 18 houses priced $350,000 or less. What is going on today? How has the changing market affected the availability of affordable houses?

As of today, August 25, 2008, there are 28 houses in Lake Oswego priced at $350,000 or less. These are detached homes: not condos or attached townhouses. The least expensive house for sale right now in Lake Oswego is a 2 bedroom, 1 bath house with 1320 square feet in Lake Grove priced at $199,900. And how about Sellwood? As of today there are 32 houses for sale in Sellwood priced at $350,000 or less. The least expensive house for sale in Sellwood is a 1 bedroom, 1 bath house with 831 square feet for $175,000. So while there are more available in Sellwood, the difference in available, affordable housing is just 4 houses. This situation continues to reinforce my belief that Lake Oswego is a viable location for a buyer looking for affordable housing.

In the course of doing this research I found a couple of houses currently for sale in Lake Oswego that stand out as total bargains. There is a house in Rivergrove that backs up to the playground at Rivergrove Elementary School that has 1744 square feet, 5 bedrooms and 2.5 baths for $297,400. There is also a good deal up by Hallinan Elementary School that is 1500 square feet with 3 bedrooms and 2 baths for $289,000.

How about the other extreme? What is happening in the million dollar price range? There are currently 25 houses for sale in Lake Oswego that are priced at over $2,000,000. The most expensive is the same house that was the most expensive the last time I did this little comparison back in March. It’s on Oswego Lake with 5800 square feet, 4 bedrooms, 5.5 baths, and priced, still, at $7,500,000. Are these high-end homes selling? In the last 6 months just 3 homes have sold that were priced over $2,000,000. It makes me think that the other 25 that are currently for sale are going to be on the market for awhile.

Finally, there is a phenomenon I have been watching, and that is the spec homes that are currently for sale priced over $1,000,000. A spec home is a house that is built by a builder before there is a buyer. The builder is “speculating” on a future sale. Lots of money has been made by local builders in Lake Oswego in the last few years. As you drive through town you see lots and lots of new homes and homes under construction. How is the current market affecting these builders? As of today, August 25, 2008, there are 48 new homes for sale that are priced between $1,000,000 and $6, 300,000. And in the last 6 months there were 7 closed sales and 3 pending sales within this inventory. So it’s slow.

I find it all very interesting. With the slow market, I think there are some tremendous deals to be found. And I remain convinced that Lake Oswego is a viable option for a buyer looking for an affordable home.

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Ride, Run, Walk Around the Lake

Absolutely one of the best features of living in Lake Oswego is the ability to enjoy the lake. And one of my favorite ways to enjoy it is by riding a bike, or taking a walk or a jog around it. The first time I ran the lake was in 1980. I have done it many, many times since then. Although I have to admit that these days instead of running it, I bike or walk it. It’s just about 8 miles all the way around. Biking it, the challenge is to do it in one hour’s time. I know that does not seem very fast, but there are two substantial hills in the ride and if you can do it in an hour, you are kicking some serious #*%*. Walking it takes about 2.5 hours, and running it, back in my hey day, took just over an hour.

The route around the lake is not an obvious course. You need to have someone who has done it before show it to you. I suppose you could just journey out and figure it out, but there are a couple of spots where taking the right turn will not only make the route more enjoyable, but it will also make it more safe.

I am going to outline the basic route. **UPDATED: MAP AT BOTTOM OF THIS ARTICLE**

I will try to keep the directions easy to follow. I do the route in a clockwise circle. You can reverse it if you like, but I do it clockwise because with this route you warm up properly for the hills and then also cool down before you finish.

Start at the Lake Grove Swim Park, which is just North of the intersection of Southshore Blvd and Lakeview Blvd, along Lakeview Blvd. Proceed North on Lakeview. I suppose it is actually slightly Northeast, but for the sake of keeping it simple, head North along the shoulder of the road. There is a nice wide bike path and you’ll be enjoying the view of the lake and the stately mansions. You will go about half a mile before you come to the first right hand turn.

This is Summit. Yes, it’s called Summit because it’s a big hill. Summit will take you on a slightly winding route up to the top and then back down again. These are some of the best views of the lake because you are up so high and you really get to see the width and breadth of the water.

After you come down the hill, Summit will dead-end at Iron Mountain Blvd. Turn right which will have you heading East. This is a long, flat stretch of road through a heavily treed area with views of the Lilly Pond. Most of the length of this section does not have houses on it. As you come back into the housing area, in fact almost immediately as soon as the driving speed goes from 40 MPH to 25MPH, you want to watch for a sharp right turn just on the edge of the lower parking lot for Lake Oswego Country Club. This little street is called Milligan Lane. It is only a couple of hundred of feet long, and I don’t think it is well marked. So be watching and don’t miss it. If you miss it, you’ll add about a mile and a good deal of time lost in the surrounding neighborhoods trying to get back on course.

Milligan Lane will take you over a set of train tracks and drop you right on to Northshore Road. Turn left so that you are continuing to head East. This is just a spectacular stretch of scenery. You will be right down at the level of the lake meandering by fabulous homes and across quaint bridges with views of the lake and of Lakewood Bay. The road takes a couple of twists and turns, just follow the signs that identify Northshore. One of the homes you will pass, it will be on your right just before the humongous rock formation, is the house that was briefly occupied by Loren Bacall and Humphrey Bogart, or so local legend has it.

After you cross the bridge with the view to the left of Lakewood Bay you will come to a 3-way stop, turn left. Go about a block and take the first right. This is is Fairmont. You are only going to go about 100 feet before you turn left onto Middlecrest. Middlecrest is not a through street. It has a barrier erected to keep out auto traffic, but there is a pass through for bikes and pedestrians. Stay on Middlecrest a couple of blocks to the traffic light at State Street.

Turn right on State Street and go a long block to the bottom of the hill where there is another traffic light at McVey Avenue. Turn right and head up McVey. This is the big hill in this route. Pace yourself because when you think you’ve gotten to the top, you have not. You could stay on it up to the traffic light at Southshore, but I have found another route that I like that is more scenic and just more interesting.

Before you get to the traffic light at McVey there is a right hand turn at Oak. Take this right and follow the route as it levels out and gives you a bit of a breather before the climb starts again. You’ll cross a little bridge in an area that feels like a grotto. It is cool and moist and very refreshing on a hot day. Just after the little bridge you’ll turn right onto Palisades Terrace. This is another beautiful neighborhood where the houses will completely distract you from your saddle sores or your tired feet. You are now about 5 miles into the route with just a couple more to go. The uphill climb starts again while you are on Palisades Terrace. You’ll know you’re there, believe me. Palisades Terrace dead ends at Southshore Blvd.

Turn right at Southshore so that you are heading West. You’ll continue to climb for about half a mile. At the top, not only is there a bench where you can sit and look out at the lake, but there is also a drinking fountain. Yahoo! Continue down Southshore as you descend the hill and begin to cross the canals. Southshore will end at Lakeview Blvd, where when you turn right you will find yourself back at the beginning where you started.

Once upon a time this was a pretty treacherous route because you shared the road with cars. Today, pretty much the whole way is either on quiet neighborhood streets or has nice bike paths to separate you from the cars.

What I like about it is that it has a variety of terrain. There are a couple of hills to challenge, but not beat you up too badly, and there are so many great views of homes and the lake.

I do have a slight modification I do for the bike ride at the bottom of McVey that will put you onto a more gentle climb up the hill. For the sake of wearing out my welcome in your brain today, I am not including it here. But if you’d like to know it, drop me an e-mail and I”d be happy to share. (jdgregoire@earthlink.net) Or perhaps it will become a future posting.

If you do try my route around the lake I’d love to hear from you. I also apologize if somehow my directions are confusing or get you lost. As always, I think in this public venue I should remind you to observe the rules of the road, wear a helmet, and stay safe. I think you’ll find that it is an amazing way to get some exercise and to take advantage of this great town. Enjoy!


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Let’s Wipe Out Breast Cancer

Please forgive me for using this forum to promote a cause that is very near and dear to my heart. I wouldn’t do it if I didn’t think it was extremely important. And I want to give my thanks to Ron and Linda for allowing me to do this in this forum.

I want to encourage you, whether you are a man or a woman, to take good care of yourself and do all of the medical screenings that are recommended by your doctor. And, in particular, screenings for breast cancer. Breast cancer will strike 1 in 8 women in her lifetime. Early detection is the key. So to detect it, to perhaps save your own life, get regular mammograms and do your monthly self exam.

I feel strongly about this because breast cancer touched my life a year ago. I was fortunate that it was caught at a stage that is very treatable and I am feeling great. Every single day is a blessing to be treasured. What I would really like is that no one would ever have to go through it, ever. But that is not possible, at least not yet.

Trying to make people aware of doing breast self exams and getting mammograms is a bit of a passion for me. And in my efforts to be pro-active, I have been very involved with the Susan Komen Foundation. This year, for the second year in a row, I have formed a team to walk in the Race for the Cure on September 21, 2008 in downtown Portland. This event does a tremendous job of raising public awareness and it also raises lots of money. The money raised stays 75% in our local area to help women detect and fight this disease (and men too!). The remaining 25% is used on a National level to pay for research to find a cure. Please consider visiting my website to join me in the walk or to make a donation to my efforts. Here is the link: Let’s Wipe Out Breast Cancer!

On a personal note, fighting this disease was a great concern to me as a full-time Realtor who works 100% on commission. My family relies on my income to support our household. And, you know what? It was possible to do. I got so much support from friends and family and I have wonderful clients who make going to work a joy. I am now completely done with treatment and I am feeling great.

Thank you so much for your support!

Dianne

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Lake Oswego Farmer’s Market

It’s summer time and one of the great joys of the season is all of the fresh produce and bright assortment of flowers that are available at this time of year. In Lake Oswego these can be found in abundance at the local Farmer’s Market. Located in Millenium Plaza Park on Lake Oswego’s East side, the market is open on Saturdays from 8am to 1pm, mid May to the end of October. There is free parking and even doggie daycare (dogs are not allowed in the market).

Arrive hungry because there is so much good food to eat. My personal favorite are the huge omelets that are made by Philly’s Fat Omelets and Breakfast Burritos. They are large and stuffed with an assortment of options that you choose. Topped off with their wonderful salsa, it is something that my mouth starts watering over the minute I wake up on Saturday mornings. You will also find cinnamon rolls that are baked and sold by the Lake Oswego Adult Community Center, fresh squeezed juices, Kettlecorn, freshly made pies and breads, as well as a wide variety of lunch fare such as La Vang’s salad rolls, and a booth offering Middle Eastern cuisine.

Numerous farms bring their crops to the market. You’ll find all sorts of fruit and produce. Especially abundant are the berries: strawberries, blue berries, and black berries. There are vendors who sell just organic lettuce, and vendors who sell not only tomatoes, but tomato plants too. There are booths run by local nurseries so that you can purchase plants for your own garden. I have also seen a table set up by local master gardeners where you can ask experts your gardening questions.

Complimenting the fresh produce and good food, you will find an assortment of other vendors. Craft cheese makers, organic meats, and smoked salmon, are a few worth mentioning. And then there are a several artisans mixed in with unique items such as lavender soap and hand crafted jewelry.

Fresh flowers are sold in abundance by several flower growers. They are sold very inexpensively, and you will enjoy the luxury of fresh-cut flowers in your home without having to sacrifice them from your own garden. You can even pick and choose your own bouquet to get exactly the color assortment that you prefer.

While you are eating and shopping there is usually live music being performed on the park stage. There are numerous tables set up to enjoy your meal while you enjoy the music.

It is truly a community gathering place. I don’t know what the attendance is each week, but it is wildly popular and something that many people look forward to as a feature of summer living. I know that I love it and I think that you will as well.

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Lake Oswego in Bloom

The City of Lake Oswego has developed quite a reputation for its amazing displays of flowers. Flowers are everywhere: hanging in baskets, in the meridians of roads, in the round abouts, and along pathways and around intersections. Everywhere you turn in the summer months is an absolute feast of color.

Perhaps the best known displays are in the many hanging baskets. This year there are 266 flower baskets. They are hung rather high up on the light posts of most major streets. They are large and lush when they are first hung in the spring and over the course of the summer will cascade down about 4 to 6 feet. These baskets are privately funded through donations from businesses and individuals. The flower basket program is sponsored by the Chamber of Commerce and a silhouette of a basket has long been the Chamber’s logo.

I have to give credit for a large part of the City’s strong interest in flowers to one of the City’s former mayors, Bill Gerber. Bill loved this City. He owned a nursery in Lake Grove called Gerber Gardens. He toured the world looking at gorgeous gardens and brought his love of gardens home to Lake Oswego. It was through Bill’s efforts that Lake Oswego entered into, and won, the America in Bloom competition.

In September of 2003, Lake Oswego entered the America in Bloom competition and actually won two prizes. The first was for the finest flower displays for cities with a population of 25,000-50,000. The second was the highest honor for flower displays beating out cities of all sizes including Boston and Indianapolis. The purpose of the America in Bloom competition is to foster civic pride, environmental responsibility, and beautification. Once a city wins the award, they are no longer able to compete in future years, but instead become a mentor to other cities hoping to accomplish similar results. For more details visit the America in Bloom website.

Portland is famous for it’s roses, but Lake Oswego is famous for its flowers too. The climate is ideal for lush displays that start with the spring bulbs in March and last through the fall colors in October. It makes the entire community shine.

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Happy 4th of July!

Lake Oswego embraces the 4th of July with a full heart and makes the celebration of Independence Day easy and fun.

Start the day at 7am with the Lake Oswego Lions Club pancake breakfast. Lasting until noon, the breakfast will be held at George Rogers Park. At 11:30am an old fashioned Independence Day Parade takes place down A Avenue. It will begin at 10th and Chandler with staging starting at 10:30am. Enjoy decorated bikes and wagons and the sight of family and friends decked out in red, white, and blue. A special tribute to veterans will be performed by Lake Oswego’s Millennium Concert Band. The parade ends at Millennium Plaza Park just in time for the Lake Grove Lions Club barbeque which goes from 11am to 5pm. From 1 to 3pm there will be a boat parade on Lakewood Bay which can be watched from Millennium Plaza Park or from the Headlee Walkway.

As is our national custom, the highlight of the day will be the annual fireworks display over Oswego Lake. I saw my first fireworks display over the lake during our Nation’s bicentennial in 1976. I was also present at the fateful display several years later when the entire display was accidentally ignited on the ground and blew up all at once. That is a sight that I will never forget! Today the display is launched at a safe spectator distance from a barge in the middle of the lake. It is easily viewed from the swim parks, the easements, and lakeside roads. Starting at 9:45 pm it is a lovely experience. What I like is that it takes place on the lake. Boats, canoes, and all sorts of water craft venture out for front-row seats. Each boat has small lights front and rear creating a lovely scene. There is someone, I do not know who, who plays the national anthem on a trumpet just prior to the commencement of the show. I have to admit, it chokes me up every time. And the show itself is not skimpy. It is spectacular. Be aware that streets around the lake are often closed to cars and people are encouraged to walk to the display. But the lake is in the middle of the town. No matter where you live, it is a pretty reasonable walk.

The last event of the 4th actually takes place on the 5th. The Portland Water Ski Spectacular and Malibu Wakeboard Competition take place on Lakewood Bay beginning at 1pm.

I have always been a highly patriotic person, and I really love the spirit of the 4th of July. This year it is especially poignant for me as I have a son on active duty serving as a US Marine. This is a very special holiday to me and to my family.

Here is wishing you and your family a safe and spectacular 4th of July.

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Go West Young Man!

I think a good question to ask is why our values are remaining relatively high compared to other parts of the United States. In one word: migration.

United Van Lines has tracked shipment patterns for people relocating within the United States since 1977. Their most recent study, which tracks migration patterns that occured in 2007, shows some interesting patterns.

2007-united-van-lines-migration-study-a.jpg

The area of the country that lost the greatest number of people was the Great Lakes Region with Michigan leading the pack as the top out-bound location. Other states with high out-bound migration were North Dakota and New Jersey. When looking at the out-bound trends, one that caught my eye was that the migration out of California slowed down last year to the smallest percentage seen in five years.

So where were migration trends of states that had more people moving in than moving out? In the South and in the West. North Carolina was the #1 destination state with Alabama and South Carolina not too far behind. In the West, the states that lead the pack for in-bound migration were Nevada, Oregon, and Arizona.

The economics of real estate value has a whole lot to do with demand. In Michigan, where the auto industry is a huge employer and has had to lay off many of its workers, it would make sense that there would be people moving away, less demand for housing, and lowering prices. In states like Oregon, where there are more people moving in than are moving out, it would have the reverse of the same logic. People moving in creates more demand for housing which could help to keep home prices stable.

Having said all of that, I found the statistic about California really interesting. People moving to Oregon from California is a big part of the real estate market. If that source of buyers in declining, I do think that it will have an impact on our market. In addition, if those people who do move to Oregon from California are getting less for the homes that they are selling, then they will have less purchasing power when they arrive in Oregon.

It will be very, very interesting to see how this plays out over the course of the next year or two.

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Mountain Park

Mountain Park is a 700 acre planned community on the East side of Lake Oswego. Itmt-park-rec-center.jpg was the vision of Carl Halvorson (the man who Halvorson Island, the only private island in Oswego Lake, is named after). Developed in 1968, it is built on a dormant volcano, Mt. Sylvania. The population of Mt. Park fluctuates between 8,000 and 8.500 people meaning that just about 1 in 5 people who live in Lake Oswego live in Mt. Park. It also means that the Mountain Park Home Owner’s Association is one of the largest HOAs in the United States.

Households in Mt. Park include single family residences, townhouses, condominiums, and apartments. Every residence pays a semiannual fee. The fee averages about $400 per year and is used to maintain Mt. Parks extensive common areas. These include 185 acres of trails (15 miles worth!), parks, pathways, 3 tennis courts, and the recreation center.

The recreation center is a gorgeous facility with 2 weight rooms, a basketball court, steam and sauna, a massage therapy center, and community rooms that are available for hosting banquets and receptions. The recreation center offers a variety of classes that are free to members of the Home Owner’s Association: mind/body and traditional fitness classes, and water exercise classes (which are taught at the pool at Lake Oswego High School). There are also youth and adult activities such as game night, Kids Nite Out, Mah Jongg, and seasonal events.

The HOA publishes a neighborhood newsletter called “Parkways and Medley” where you can find out about classes and the current neighborhood events.

mt-park-street.jpgBecause the community was planned, and pretty much all built at once, there is a uniformity to the neighborhood with well-cared for lawns and the stately sweep of hillside streets. Pricing goes from a low of $139,900 for a condominium to a high of $699,950 for a 4 bedroom house. Being on a hill, many of the homes and condos have views of Mt. Hood and Portland. Be aware that not all homes in Mt. Park are in the Lake Oswego school district. About 25% of Mt. Park along the North side has Lake Oswego addresses but is in the attendance area for Portland Public Schools. Property values are higher for homes in the Lake Oswego school district.

The whole idea of a planned community was pretty new back in 1968. Today this sort of community is being built and duplicated all over the country. But Mt. Park was a pioneer of the genre. And it has aged well. The neighborhood is clean and well cared for, and the recreational lifestyle is great.

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In-Ground Oil Tanks

Oil Tank Decommissioning For most of the 20th century, oil heat was the primary method of heating homes. If you own or are considering purchasing a home that was built before 1965, chances are pretty good that the house had oil heat. And chances are also pretty good that the oil tank was buried in the ground.

Should you be afraid to buy a home with an in-ground tank? No.

Should you be afraid of selling your home if it has an in-ground tank? No.

In both instances the necessary steps that you should take are clearly outlined by the Department of Environmental Quality. As a seller, you want to minimize your liability and be certain that once the house is sold, you will never have the old oil tank come back to haunt you. To do this, you must obtain soil samples to prove that the tank has not contaminated the surrounding soil. If the tank is still in use, the soil samples will prove that the tank had not contaminated the surrounding soil at the time that the house was sold. If tank is no longer in use, you are encouraged to have the tank decommissioned.

Decommissioning the tank involves emptying it of oil, cleaning it out, and filling it with concrete slurry that will harden into a big cement rock in the ground. While decommissioning the tank is voluntary, many lenders and most buyers will make this a condition of the sale. If you do not take the necessary steps to prove that the soil was clean at the time the house was sold, and soil samples taken later show that a contamination has occurred, you can be liable for the cost to clean up the soil even after the house has transferred to a new owner. So, take the proper steps now to assure that you will not have a problem in the future.

Whenever work is done on an in-ground tank, it should be performed by a licensed and bonded contractor who is certified with the DEQ. After the work is completed, a certificated of compliance will be issued. This is paperwork that needs to be saved and transfered with the property to every subsequent owner. Cost to do soil testing will run about $200-$400. Cost of decommissioning will run about $800 to $1,200. Can it cost more, yes, but that is a minority of the cases.

If you are wanting to buy a house with an in-ground oil tank, should you be afraid to purchase? No. Simply make the soil testing and the decommissioning of the tank a condition of the purchase. You are strongly advised to get this taken care of before you buy the house. If you buy the house with an in-ground tank, and you discover later that the tank has leaked, you have now taken ownership of the problem.

How bad can it get? There certainly are horror stories of soil clean up costs running into the thousands and thousands of dollars. In my 20 years of selling real estate, the most costly clean-up I have encountered involved bringing in a backhoe to remove a tank and dig a hole about 15 feet in diameter. It cost the seller $8,000.

Information on oil tanks are surprisingly undocumented. There are not good resources for looking up records about in-ground tanks. The DEQ does not regulate in-ground tanks beyond requiring that they be reported if they have leaked. Then, the DEQ does open a file on them and there is a process to clean up the contamination and get the file closed. However, if no leak has been reported to the DEQ, they will not have a record of the tank. And do not rely on city records or fire department knowledge of in-ground tanks. This means that even if a seller has no knowledge of an in-ground tank, you may want to consider having the yard of an older home scanned with a metal detector to confirm that no tank exists in the yard.

In all cases, it is best to take every precaution to be in compliance with soil testing and tank decommissioning when you buy or sell a home. Taking the proper steps now will save both buyers and sellers heartache later.

Links: Oregon DEQ Tank Decommissioning FAQ

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Welcome Betty!

A big bloggers welcome to Betty Jung and the metro area’s latest addition to local real estate blogging.  Betty is a Realtor with Re/Max equity group and has just started her new blog, All About….Portland.Oregon.Real Estate.  Betty has a fresh voice and is eager to jump into the pool.  Welcome!