What’s Your Sense of Style?

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When searching for properties on RMLS, you will first be asked to specify the type of property you are interested in finding. The main property categories include:

  • Attached- This refers to a townhome which is usually 2-story, part of an HOA, and includes ownership of the lot as well as the structure.
  • Condo- This refers to a dwelling in an HOA, wherein ownership includes the individual unit together with an undivided interest in common with all unit owners in the “common elements”, which are the land and those parts of the building or buildings intended for common use. Condo ownership is of the interior of the structure, and exterior maintenance is provided by the HOA.
  • Detached Single Family- This refers to a house on its own lot. Ownership is of the house, inside and out, and the lot itself. Technically, ownership extends up into the atmosphere as well!

When you choose one or more properties for more detailed information, the “style” of the detached homes will be included. Indicating a description of the style of a home for a Realtor is more of an art than a science. This is because a home will potentially contain elements of one style, and also elements of another, particularly if there has been any remodeling of the structure.

I thought it might be fun to give some detail on the characteristics of house styles, and want to thank Judie Teal who contributed data and photographs to RMLS, which RMLS is allowing me to mine and use for your informational pleasure.

There are many, many house styles from which to choose. Here are some significant ones applicable to the larger Portland area:

  • 2-Story- Two-level homoe with the main entrance on the lower level.2-Story: Two-level home with main entrance on lower level. (Photo)
  • Ranch: Long, low, rambling single-story with simple construction, usually a large picture window in front and an attached garage.
  • Daylight Ranch: Rambling home with a lower level basement that is partially above ground.
  • Split-Level: Two-story home split at the entry with one set of stairs going up and another going to the losplitjpgwer level. The entry is not considered a “floor” or story. (Photo)
  • Tri-Level (NOT to be confused with Split-Level): Usually a ranch style home with a full story added on one end… so, three full floors.
  • Bungalow: One to one & 1/2 story w/gabled roof & porch across front.
  • Cottage: Gabled roof line, but lower than the bungalow style, sash windows, and a plain front door. Front porch is either very small or non-existent.
  • Contemporary: Simple, Uncluttered lines with a non-traditional design. (Photo)contempjpg
  • Craftsman: Home has a low pitched gabled roof with wide eaves and exposed rafters. One or two story crftsmnjpgwith a decorative brace and full front porch. Inside there is usually an array of built-in wood cabinetry, often with glass & leaded glass features. (Photo)
  • Colonial: Two-story home with a steeply pitched roof, small casement windows, and often columns across the front.
  • Dutch Colonial: This variation has a gambrel or mansard roof and often a side wing. (Photo)

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  • English: Steeply pitched roof, prominent cross gables and tall windows sometimes half-timbered. (Photo at top of post)
  • Tudor: Similar to the English home, with steeply pitched roof, low doors, small-paned windows and tudorjpgdecorative half-timbering. (Photo)
  • Victorian: Two stories with steep gables, ornate wood detail, Gothic style windows (pointed top), and brackets under eaves. Some also boast turrets.
  • A-frame: One or two story with peaked, high pitched roof line in the shape of an “A”.
  • Chalet: A rustic style home featuring projected roofs, large windows and raised foundation. (Photo)chaletjpg
  • georgianjpgGeorgian: A formal square box-like structure with a hipped roof, decorative crown or pediment over the front door with columns on each side, and/or cornice mouldings. (Photo)
  • Saltbox: Distinctive sloping roof line from the top of the gable which can plunge from 2 and 1/2 stories in the front too a single story in the rear.
  • Farmhouse: Simple, uncomplicated 2-story construction with a front porch, and sometimes wrap-around porch. (Photo)farmhsejpg
  • Old Portland (Four Square): Very Distinctive style popular in the early 20th century. Large & square oldpdxjpgtwo to two & 1/2 story with low hipped roof and deep overhang, large central dormer, full porch w/wide stairs. (Photo)

There are many more styles, but again, these represent the bulk of what you’ll find in the Portland area.

Market Activity Report – February 2-8, 2009

Lake Oswego saw 14 new properties hit the market last week.  We had 6 go pending, and 5 that closed.  Looks like some steady activity is continuing.

I think it’s interesting to note that some of the older inventory is moving, and some of the newer inventory is moving rather quickly, relatively speaking, as evidenced by 3 pending sales that had been on the market for over 8 months, and one other achieving pending status in just 7 days!  The other two were on the market for less than 3 months before getting to pending status.  As for sold/closed properties- one of the 5 had been on the market for over 11 months prior to sale, but we had one sell in about 2 weeks, and 2 that had been on the market for 5 &  a just a little over 5 months.

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

NEWLY LISTED (February 2—February 8, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address List Price # Beds # Baths Tot. SF Prop Type List Date
45 OSWEGO Summit $139,900 1 1 764 CONDO 2/2/2009
3882 BOTTICELLI ST $224,900 3 2 1,224 ATTACHD 2/3/2009
204 CERVANTES CIR $259,000 3 1.1 1,138 CONDO 2/3/2009
790 BOCA RATAN DR $269,900 3 2 2,112 DETACHD 2/6/2009
17304 MARJORIE AVE $333,000 3 1.1 1,340 DETACHD 2/3/2009
1685 MAPLELEAF RD $365,000 3 2 1,433 DETACHD 2/2/2009
1299 HIDE A WAY LN $425,000 3 2 1,893 DETACHD 2/8/2009
1510 FERNWOOD DR $595,000 5 3 3,291 DETACHD 2/4/2009
2957 GLEN EAGLES RD 599000 4 3 3,288 DETACHD 2/3/2009
5772 BAY CREEK DR 599000 4 3 3,242 DETACHD 2/5/2009
17879 HILLSIDE DR 674900 3 3 3,049 DETACHD 2/5/2009
1991 COUNTRY CLUB RD 879000 4 4 3,414 DETACHD 2/6/2009
17460 Wren CT 1495000 4 3.1 3,300 DETACHD 2/8/2009
4313 WESTBAY RD 2775000 4 3.1 4,000 DETACHD 2/2/2009

PENDING SALES (February 2—February 8, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address List Price # Beds # Baths Tot. SF Prop Type List Date CDOM
44 EAGLE CREST DR $114,950 1 1 798 CONDO 1/29/2009 7
95 KINGSGATE RD $310,000 3 2.1 1,669 DETACHD 12/14/2008 51
5291 CHINOOK CT $375,000 7 3 2,331 DETACHD 12/8/2008 286
4761 LAMONT WAY $390,000 3 2 1,816 DETACHD 11/13/2008 83
1555 BAY VIEW LN $995,000 4 4.1 4,775 DETACHD 1/19/2009 277
13200 THOMA RD $1,995,000 5 5.2 7,648 DETACHD 11/4/2008 504

SOLD (February 2—February 8, 2009)

ADDRESS ORIG. PRICE SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address O/Price Close Price # Beds # Baths Tot. SF Prop Type List Date CDOM
3668 SPRING LN $199,900 $164,400 2 2 1,120 CONDO 1/6/2009 16
4206 WOODSIDE CIR $284,900 $284,900 2 2 1,799 ATTACHD 8/3/2008 151
1640 WORTHINGTON ST $359,900 $335,500 4 3 2,342 DETACHD 10/28/2008 66
5079 W SUNSET DR $458,650 $365,000 2 2.1 1,760 ATTACHD 7/25/2008 336
13217 FOX RUN $610,000 $508,200 4 3 2,706 DETACHD 6/23/2008 160

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.

Open Houses for Sunday, Feb. 8, 2009

Ok… no weather predictions from me this time! …Although I hear it’s supposed to be dry & partly cloudy/sunny till the late afternoon on Sunday… Ok, I couldn’t help myself.

There are 25 properties on the Open House list for Sunday. Nearly all of them are detached single family residences.  SW 62nd Ave. is a Portland address with Lake Oswego Schools designation.

Here are those that will be held open according to RMLS:

45 Oswego Summit           $139,900   1 Bd,   1 Ba         Open 1-3

13561 SW 62nd Ave         $294,900   3 Bd,  1  1/2 Ba   Open 10-11:30

4458 Thunder Vista Ln      $319,000    3 Bd,  2  1/2 Ba  Open 12-3

820 McVey Ave                  $335,000   3 Bd,   1  1/2 Ba   Open 1- 3

14371 Holly Springs Rd   $414,900     4 Bd,   2  1/2 Ba  Open 2-4

1651 Larch St                  $429,000     4 Bd,        3  Ba   Open 1-3

15  Masaryk St                 $429,900    4 Bd,        3 Ba    Open 12-3

14431 Orchard Springs Rd$439,900 3 Bd,   2 1/2 Ba    Open 2-4

3 Cellini Ct                        $465,000   4 Bd,  2 1/2 Ba     Open 12-3

14498 Camden Ln            $469,900   4 Bd,   2 1/2 Ba    Open 12-3

5807 Ridgetop Ct             $539,900   5 Bd,   2 1/2 Ba    Open 1-4

624 Livingood Ln              $574,900   3 Bd,         3 Ba     Open 1-3

3254 Duncan Dr               $599,900   4 Bd,    3  1/2 Ba    Open 2-4

17706 Marylbrook Dr        $685,000   3 Bd,  2  1/2 Ba      Open 1-4

15713 Tara Pl                   $729,000   4 Bd    2  1/2  Ba    Open 12-2

15195 Lily Bay Ct              $875,000   4 Bd,   2  1/2 Ba     Open 1-4

18051 Kelok Rd                 $899,000    5 Bd,   3 1/2 Ba     Open 1-4

3030 Westview Ct            $984,500   3 Bd,  2  1/2 Ba     Open 12:30-1:45

1619 Bay View Ln             $959,000   5 Bd,    3  1/2 Ba   Open 1-3

3600 Southshore Blvd      $999,000   3 Bd,  2  1/2 Ba     Open 2:30-4:30

943 SW Atwater Rd         $1,150,000   4 Bd,   2  1/2 Ba   Open 1-4

16359 Chapin Way          $1,398,000    4 Bd,   3 1/2 Ba  Open 1-4

15905 Oswego Shore Ct $1,590,000   4 Bd,  3  1/2 Ba   Open 1-3

1799 SW Atherton Dr       $1,595,000    5 Bd,   5 1/2 Ba  Open 2-4

2500 Glen Eagles Rd        $2,695,000   5 Bd,   4  1/2 Ba Open 1:15-4

No Loans?

You hear it every day: “There are just no loans out there.  No one is lending.” Well, I’m here to tell you that this is just not true.  While it is true that all lenders have become more restrictive, and the news media asks “Where did all that money go?”, there are still indeed lenders staying focused on moving forward through the morass, and doing good business with qualified home buyers.

I think we all agree that the changes in qualifying standards are good for the community at large, and good for individual buyers. Sometimes it is also helpful to have a program that takes a holistic approach to the individual applicant.  There has been a lot of light shed on the downsides of 100% financing, but a buyer in good credit standing with a qualifying debt to income ratio along with other complying factors, first-timer or not, can really benefit from a good 100% program.

I work with a variety of lenders I trust in order to be able to recommend good lending sources to my clients.  I say this to make sure you understand I am not recommending any one lender, and encourage any buyer to check out all their options (there are more than you think!).  That said, I was struck by the program at KeyBank, as were my cohorts, and thought it worthy of some blog space. I am particularly encouraged when a lender in today’s economic climate makes a point of supporting the local community, and that is what we appear to have here.  I’ll give you some details below, and would be happy to point you to a contact person at KeyBank if you’d like more info. As always, if you are working with a Realtor, please do consult them for advice and recommendations on lenders they trust.

OK, here are the main points pertaining to the KeyBank 100% program:

  • Financing is 100% w/no mortgage insurance
  • 30-year fixed w/no prepayment penaltynewkeybank-032-blk-pc1
  • 620+ credit score
  • On the job for 2+ years
  • Primary residence only
  • Seller contribution allowed to a maximum of 3%
  • Must have at least $500. in the bank
  • Must also have one month’s PITI available (this, however, can come as a gift)
  • Fees are: $395./appraisal, $300./processing, $300./underwriting
  • Max 42% debt-to-income ratio
  • If self-employed, must give 2 years’ tax returns
  • Must have 2 years’ satisfactory rent or mortgage payment history
  • Rates vary all the time, but today I’m told you’re looking at approx 5.5%
  • (for more info, email me and I’ll put you in touch w/a rep for KeyBank)

Now, there is another component, and that is geographical area.  There are certain areas that have been identified as fitting into the program’s guidelines.  To find out if a property you are interested in fits the guidelines, enter an address here:   http://www.ffiec.gov/Geocode/default.aspx

Granted, in order to meet the guidelines in Lake Oswego, you are probably looking at homes in lower price ranges and/or condos in order to qualify. If a property of interest does not fit into the geographic guidelines, you can still take advantage of this program, but would most likely need to have an income of less than $52,000. according to the KeyBank rep. with whom I spoke.  This is a great program for first time buyers or those wishing to purchase a condo or starter home  in Lake Oswego!

I hope this info was helpful.  Please do feel free to contact me with any questions. There are still lots of programs out there with several lenders suited to those who meet credit and debt to income standards that vary with each institution.

Very Best,

Linda

Market Activity Report – January 19-25, 2009

News today indicates a “Surprise to the Upside” in US housing sales.

Check it out: http://www.actionforex.com/fundamental-analysis/daily-forex-fundamentals/us-home-sales-surprise-to-the-upside-2009012676338/

Here in Lake Oswego we have a total of 20 properties newly on the market as of this last week, and 7 pending sale as of the same week. I culled any property listed as “new” that had not been off the market for at least 30 days, and many of those categorized as such below are brand new listings.

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

NEWLY LISTED (January 19—January 25, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address List Price # Beds # Baths Tot. SF Prop Type List Date
26 CRESTFIELD CT $172,700 2 2 995 CONDO 1/23/2009
13880 SUNDELEAF DR $234,500 2 1 976 DETACHD 1/23/2009
666 9th ST $425,000 2 1 1,850 DETACHD 1/23/2009
14431 ORCHARD SPRINGS RD $439,900 3 2.1 1,960 CONDO 1/23/2009
3 CELLINI CT $465,000 4 2.1 2,531 DETACHD 1/19/2009
39 SPINOSA $479,900 3 2.1 2,069 DETACHD 1/21/2009
627 1ST ST $499,000 2 2 2,090 DETACHD 1/25/2009
2360 GREENTREE RD $499,995 3 2.1 2,207 DETACHD 1/21/2009
14 NORTHVIEW CT $537,500 4 3.1 3,279 ATTACHD 1/22/2009
3745 TEMPEST DR $547,500 4 3 2,834 DETACHD 1/21/2009
14412 MEADOW GRASS ST $575,000 4 2.1 3,563 DETACHD 1/19/2009
554 5TH ST $759,000 3 3.1 2,166 ATTACHD 1/19/2009
556 5TH ST $759,000 3 3.1 2,166 ATTACHD 1/19/2009
15847 SPRINGBROOK CT $938,000 3 3 2,705 DETACHD 1/19/2009
730 KENOLA CT $1,085,000 4 3.1 4,319 DETACHD 1/19/2009
2326 Oswego Glen CT $1,495,000 4 4 4,178 DETACHD 1/20/2009
15905 OSWEGO SHORE CT $1,590,000 4 4 3,869 DETACHD 1/19/2009
1098 CHANDLER RD $2,195,000 4 3.1 3,696 DETACHD 1/21/2009
18414 RIVER WOODS PL $2,999,000 4 4.2 6,498 DETACHD 1/23/2009
17110 LOWENBERG TER $850,000 4 2.1 2,678 DETACHD 1/22/2009

PENDING SALES (January 19—January 25, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address List Price # Beds # Baths Total SF Prop Type List Date CDOM
4 TOUCHSTONE DR $114,000 2 2 984 CONDO 1/10/2009 11
3668 SPRING LN $199,900 2 2 1,120 CONDO 1/6/2009 16
1400 PARRISH ST $297,500 3 2.1 1,880 CONDO 9/1/2008 143
4672 WINTHROP CT $399,900 3 2 1,680 DETACHD 9/30/2008 114
1480 HEMLOCK ST $428,850 4 3 2,246 DETACHD 3/24/2008 305
6067 CLAIRMONT CT $529,000 4 2.1 2,344 DETACHD 1/12/2009 11
17561 SHEPHERDS CT $675,000 4 2.1 3,011 DETACHD 5/15/2008 347

SOLD (January 19—January 25, 2009)

ADDRESS ORIG. PRICE SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address O/Price Close Price # Beds # Baths Total SF Prop Type List Date CDOM
13915 SUNDELEAF DR $998,000 $895,000 4 3.1 4,090 DETACHD 10/1/2008 797

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.

Open Houses for Sunday January 25th, 2009

Greetings, Lake Oswego real estate fans!

You can see from the line-up below and the report from Monday that activity in Lake Oswego is heating up. If only our temperatures would do the same.

Happy house-hunting:

____________________________________________________________

136 Oswego Smt. $142,000 1 Bd, 1 Ba, Open 1-3

26 Crestfield Ct. $172,700 2 Bd, 2 Ba, Open 2-4

5487 Tualata Ct. $289,000 3 Bd, 2 Ba, Open 1-3

4 Othello St. $424,900 4 Bd, 3 Ba, Open 1-4

108 Ridgeway Rd. $499,000 3 Bd, 1 Ba, Open 11-1

624 Livingood Ln. $574,900 4 Bd, 3 Ba, Open 1-3

625 Clara Ct. $587,500 3 Bd, 2 1/2 Ba, Open 12-3

3254 Duncan Dr. $599,900 4 Bd, 3 1/2 Ba, Open 2-4

13222 Deerfield Ct. $649,000 4 Bd, 2 1/2 Ba, Open 1-3

15713 Tara Pl. $729,000 4 Bd, 2 1/2 Ba, Open 1-3

5267 Lakeview Blvd. $750,000 4 Bd, 3 1/2 Ba, Open 1-4

540 Northshore Rd. $759,000 4 Bd, 2 Ba, Open 2-4

426 7th St. $778,950 4 Bd, 2 1/2 Ba, Open 1-4

17606 Woodhurst Pl.$895,000 5 Bd, 3 1/2 Ba, Open 1-3

2941 Westview Cir. $899,900 4 Bd, 2 1/2 Ba, Open 1-3

15847 Springbrook Ct.$938,000 3 Bd, 3 ba, Open 2-4

3030 Westview Ct. $959,000 4 Bd, 2 1/2 Ba, Open 2-4

2600 Dellwood Dr. $995,000 4 Bd, 3 Ba, Open 2-5

3600 Southshore Blvd. $999,000 3 Bd, 2 1/2 Ba, Open 2-4

3300 River Woods Pl.$1,095,000 3 Bd, 2 1/2 Ba, Open 1-3

943 S.W. Atwater Rd. $1,235,000 4 Bd, 2 1/2 Ba, Open 1-3

16359 Chapin Way $1,439,000 4 Bd, 3 1/2 Ba, Open 1-4

13200 Thoma Rd.$1,995,000 5 Bd, & 2 1/2 Ba , Open 2-4

Personal Kitchen Experiences – Share Yours!

kitchen_aTuesday was such a momentous occasion, and many of us took time off from work to watch the inauguration and the rest of the exciting events of the day.  In the afternoon I took one of the many photographs I’d shot from the television screen and emailed it with my best wishes to a huge list of family and friends. I called the photo and email “New Day in my Kitchen”.

It occurred to me that many of us spend important moments in our kitchens.  Some of our best times with loved ones are spent there, and of course there is a lot of talk lately about those discussions of family budgets etc. occurring around kitchen tables throughout the nation.  I took a look around my kitchen, and thought of some of the decisions I’ve made pertaining to it through the years. I also thought about comments from some of my clients lately as we look at homes they are considering.

My kitchen is very large and, as I enjoy entertaining, it is perfect for large or small gatherings and tends to be where the laughter and conversation is always liveliest. In the beginning when I purchased my home, I wanted to “gut” it as it has very 50’s white pine cabinets with that unmistakable “country kitchen” flavor. I like to think of myself as more Mediterranean than “country”, and so made some major modifications along the way to nudge the look that direction. But the cabinets actually grew on me, and now I love them and wouldn’t think of touching them.  Other aspects of my kitchen did not win me over however, and so I had some decisions to make.

The counter tops had to go. I chose granite, and/but had to consider a few things as I made that decision. First of all, I decided on granite tile rather than slab. I did this because I had so many projects going on at once throughout the house and granite tile, being more economical than slab, allowed me to accomplish much more on my budget and still have that beautiful gleaming look that I love. In the process though, I had to take practicality into account and consider a few things about granite:

  • If choosing granite tile, be sure to select product that is cut for minimal grout lines (some are cut in such a way as to necessitate wider grouting between tiles).
  • Think about the whole kitchen, and how the granite contrasts or matches other elements such as flooring, cabinetry and fixtures. It should all work together.
  • Know that granite requires careful cleaning and upkeep- You will want to seal, and then re-seal your granite every year or so to protect the integrity of the stone.
  • Grout between granite tiles needs to be sealed and re-sealed as well as the granite.
  • If you use lots of lemons in your cooking, know that the acid from citrus can damage your granite severely. My installer informed me that if you left a half- lemon lying upside-down on your granite counters overnight, it would eat a circle into the granite. I have not tried this to prove or disprove what I was told, but suffice it to say that you are now forewarned as was I.  You will also want to eliminate citrus cleaners from your collection… and/or tell your cleaning service not to use them.
  • Remember that, unlike laminates or even stainless steel which are both very popular and good options, things usually break when they hit granite. Now, tile of any kind will cause breakage as well, but with granite you at least generally do not have to worry about it breaking, which can be a problem with regular tile.
  • Remember that there are other options such as quartz, poured concrete, and man-made granite look-alikes, all with their own charm and benefits. Talk to a qualified professional about your choices as I did.

The next choice for me was flooring.  I was absolutely convinced that I wanted travertine in my kitchen.  A very nice consultant talked me out of it explaining that it is very slick when wet, requires even more care and upkeep than granite, and can crack when heavy things drop on it. (Me? Drop things?!)  Now, I was really hard to convince but I finally gave in. (I did put it in one bathroom however… so I got my travertine “fix”, and also chose rough travertine for my back splash in the kitchen getting some of the Mediterranean feel I was after.)  He tried to talk me into the practicality of laminate for flooring, but in the end approved of my selection of porcelain tile.  I achieved the Mediterranean look I wanted, and got a durable floor that requires less upkeep. I do still have to be mindful of dropping bowls etc., but for a different reason- porcelain is just plain hard, so unlike the more practical laminate surface, shattering is what happens when you drop ceramics or glass on it.  Remember also- grouting needs to be sealed and re-sealed, and the grout color should take into consideration the fact that it is being walked on… all the time, as well as the unavoidable effects of gravity.

There is so much to talk about with kitchens, and I am not even going to get into sinks, appliances, range venting etc. in this post (another time : ) but  I do want to look at the basics. The other day I was showing a property with a remodeled kitchen that had beautiful slab counters, tile flooring, and a great layout. My client pulled out a drawer and mentioned that her daughter noticed that the fixtures had been replaced but not the cabinets… just like she had seen time & time again on a popular TV design/remodeling show.  She liked them anyway, but it is something to think about. Here in Lake Oswego, many homes were built in the 50’s, 60’s & 70’s, and if a remodel does not include new cabinetry, make sure you love the function aspect of the cabinets as-is.  There is a reason people choose not to replace cabinetry. It’s expensive. Now, I made this same decision in my kitchen, and/but DO love my cabinets. There are times when I wish I could pull out smoothly rolling drawers and shelves, and spin in-cabinet lazy susans for easy access.  I made a choice because I love the look of mine… they are rustic, and the iron handles are a feature I took into consideration when choosing the color of my granite etc. That said, if I ever choose to sell my home, a buyer will need to love them as well.  If you are not so crazy about your cabinets and considering a remodel, know that the choices you make should appeal to the widest pool of buyers… that is if you know you will want to sell in a few years.

Lastly, as far as basics go, if you are shopping for a home, notice whether the layout of the kitchen fits your lifestyle. Do you use breakfast bars?  Do you enjoy privacy while cooking or prefer “great-room” openness?  Do you entertain?   Do you enjoy cooking with your spouse or kids? If so, is there room for two or more people to move about in the kitchen? Just pay attention to how the kitchen matches your needs.

I would love to hear comments, personal kitchen remodeling experiences, or additional information you’d like to share. Please feel free to post a comment.  Personal experience is valuable, and we’d all like to learn from yours!

Market Activity Report- January 5 – 11, 2009

Activity is picking up as evidenced by the number of new listings below. However, I’ll caution that roughly half of these are “freshened” listings, and though I like to pick through them and only display the truly “new”, scheduling did not allow me to do that for you today.

Your Realtor can answer any questions regarding a property’s history, and I’d be happy to advise you on that as well should you not have your own resource, and find something of interest below.  Suffice it to say though, that the new year is providing inspiration to home sellers, and this is fairly common every year.

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

NEWLY LISTED (January 5 – 11,2009)

ADDRESS                        LIST PRICE           # BED  #BA   TOT SF    PROP TYPE     LIST DATE
4 TOUCHSTONE DR $ 114,000 2 2 984 CONDO 1/10/2009
65 GALEN ST $ 129,000 1 1 689 CONDO 1/5/2009
3668 SPRING LN $ 199,900 2 2 1,120 CONDO 1/6/2009
750 1ST ST $ 225,000 2 2 1,350 CONDO 1/9/2009
6291 HARRINGTON AVE $ 249,900 3 2 1,472 DETACHD 1/6/2009
6317 CARMAN DR $ 275,000 3 1.1 1,344 DETACHD 1/5/2009
4664 FIRWOOD RD $ 300,000 3 2 1,640 DETACHD 1/6/2009
18963 SW LONGFELLOW AVE $ 339,900 3 1.1 1,232 DETACHD 1/5/2009
18959 KRISTI WAY $384,400 3 2 1,778 DETACHD 1/6/2009
18971 INDIAN SPRINGS CIR $399,950 3 2 1,525 DETACHD 1/7/2009
16018 WALUGA DR $419,000 4 2 2,026 DETACHD 1/8/2009
142 KINGSGATE RD $425,000 4 2.1 2,495 DETACHD 1/6/2009
1717 WOODLAND TER $455,000 3 2.1 2,146 DETACHD 1/6/2009
17121 WALL ST $525,000 3 2.1 2,187 DETACHD 1/9/2009
17622 BROOKHURST DR $550,000 3 2.1 2,909 DETACHD 1/7/2009
3254 DUNCAN DR $599,900 4 3.1 3,997 DETACHD 1/7/2009
668 MCVEY AVE $599,998 3 1.1 992 CONDO 1/9/2009
5678 SW CHARLES CIR $65,0000 4 4 3,455 DETACHD 1/5/2009
615 LAKE BAY CT $669,900 3 3 2,542 DETACHD 1/5/2009
72 CONDOLEA WAY $679,500 2 2.1 3,088 CONDO 1/9/2009
19524 RIVER RUN DR $699,950 4 2.1 2,630 DETACHD 1/5/2009
15195 LILY BAY CT $924,900 4 2.1 4,099 DETACHD 1/11/2009
3030 WESTVIEW CT $959,000 4 2.1 3,415 DETACHD 1/11/2009
18682 WESTVIEW $975,000 4 3 3,243 DETACHD 1/8/2009
662 9 th ST $975,000 5 3.1 4,108 DETACHD 1/5/2009
2304 Oswego Glen CT $1,395,000 4 2.1 3,896 DETACHD 1/5/2009
2793 POPLAR WAY $1,995,000 5 5.1 6,300 DETACHD 1/9/2009

PENDING SALES (January 5 – 11, 2009)

ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
3190 DUNCAN DR      $304,900 3     2.1 2401      DETACHD      12/16/2008   24
5102 ROSEWOOD ST $341,900 3     2 1810      DETACHD      11/12/2008   54
4280 CHAPMAN WAY $469,000 3     2 1947      DETACHD    12/15/2008   105
17454 CANAL CIR     $549,900 4     3 2275      DETACHD      4/19/2008   261
13581 GOODALL RD  $550,000 3     2 1220      DETACHD      10/10/2008 490
5299 WESTFIELD CT  $598,000 3    2.1 2865      DETACHD       8/2/2008   156
1141 TROON RD       $648850 4    3 2522      DETACHD       7/2/2008   187

SOLD (January 5-11, 2009)

ADDRESS ORIG.              PRICE SALE              PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
16250 PACIFIC HWY         $269,850 $185,000 2     2.1 324       CONDO       433
5051 TUALATA LN             $409,900 $400,000 4     2.1 591      DETACHD     114
16750 PHANTOM BLUFF CT$485,000 $430,000 3     3.2 267      DETACHD    ,288
1971 PARK FOREST AVE     $549,000 $549,000 4     2.2 180      DETACHD      13

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer.

If links to ACTIVE properties do not bring up property information, the listing may no longer be active, but rather expired, cancelled, pending, or sold.

Open Houses for Sunday, January 11th

We had views of the mountains this morning, and are supposed to be dry and hovering near 50 Sunday! (Do I sound excited?)  If you decide to venture out and enjoy the weather and some “house-browsing”, here are some that will be held open on Sunday according to RMLS:

5054 Foothills Dr.       $285,000   2 Bd,   2 Ba,   Open 2-4

1650 Fircrest Dr.         $429,000   4 Bd,   3 Ba,   Open 1-4

1265 Rockinghorse Ln.$444,000   4 Bd,  3 Ba,   Open 1-3

4 Hillshire Dr.               $575,000   4 Bd,  3 Ba,   Open 1:30 – 3:30

5624 Southwood Dr.   $599,900   4 Bd,  3 Ba,    Open 2-4

3254 Duncan Dr.         $599,900   4 Bd,   3 1/2 Ba, Open 1-3

426 7th St.                  $778,950   4 Bd,   2 1/2 Ba, Open 1-4

16359 Chapin Way     $1,439,000 4 Bd,   3 1/2 Ba, Open 1-4

13200 Thoma Rd.        $1,995,000  5 Bd,  5 + 2 1/2 Ba, Open 2-4

Insurance & Adventures in Home Ownership

slide_1bWe’ve given you plenty of coverage of the exciting and unusual weather experienced lately here in Lake Oswego. I hesitate to scare the bajeezeez out of anyone contemplating living here, and/but believe that even though this is unusual weather, the story I’m about to share is extremely valuable for just that reason, and highlights the importance of giving great consideration to the type of insurance you decide to carry when purchasing a home.

Last Friday at about 1:00AM, 23-year old Sammy Abazzaz and a group of his friends were relaxing and having a late-night snack in the second-floor kitchen of Sammy’s Lake Oswego home when a mudslide hit its rear filling the level below with moving earth, throwing granite counters at them and opening a crevasse at their feet sending some plummeting beneath it.  Sammy’s parents were in British Columbia celebrating the new year and rushed home upon hearing of the catastrophe. All the occupants are reported to have escaped and are deemed relatively “OK” with the exception of one broken arm and lots of nightmares I’m sure.  According to the Oregonian,  Sammy relates: “It came through almost like an avalanche, through the windows and the house”.  Heavy rains and a plugged drainage point on the hill above the home reportedly caused the slide.

slide_6Scott Burns, a professor of geology at Portland State University advises:  “The important thing is to get people in Portland and the rest of this area to ask the question, ‘What can I do to prevent landslides on my property?’ ”  “There was just a lot of storm water going down the streets and going in every direction,” said Bill Burns, an engineering geologist with the state Department of Geology and Mineral Industries. “There was just so much water, it was just over-taking the system.”

slide_3The family reportedly had homeowners insurance, but not the additional protection of landslide coverage which is typically excluded from most policies. I would pose that in addition to being the most diligent and informed homeowner you can possibly be, you also need to acknowledge that sometimes “stuff happens”, and therefore it is prudent to assess any “potential” hazards (even if you believe them unlikely) and protect yourself with appropriate insurance. This means you may end up being the one inquiring as to the availability of such add-ons, and so need to come armed to any discussion with data to guide your inquiries and decisions. To that end, let me provide you with some basic information, which I suggest you view as a primer, and not as the replacement for consultation with your insurance agent who, unlike me, is the “insurance expert”:

  • Most homeowners policies will not include: floods, mold/fungus, earthquakes, mudslides/landslides, sinkholes, war or nuclear accidents.
  • If you do have, or are considering flood insurance, check to see if you are covered for a landslide should the slide be carried by a body of water. Some flood policies cover mudslides ONLY under these circumstances.
  • Cost of coverage is based on where you live & other factors. (visit: http://www.Floodsmart.gov). A typical quote for someone NOT in a flood plane according to my own insurance office only will cover up to $250,000 in structural damage, and $100,000 for content damage.  ** For $200,000/structure and $80,000/contents in a recent “preferred location” quote in SW Portland, the price tag I’m told was $326/yr.
  • Generally speaking, “property damage” is not intended to include a detached garage, outbuildings, tool sheds etc. These may be covered, but usually at around 10% of the amount of coverage applicable to your home.
  • The most common policies in the United States cover losses due to fire, lightning, fallen trees, tornadoes, wind storms, hail explosions, smoke, vandalism and theft. The amount of coverage that you have is an item for discussion between you and your insurance agent.
  • Water seepage from the ground up into your home is usually considered a maintenance issue and not covered in standard or flood policies.  Waterproofing and appropriate drainage work is recommended if this is an issue.
  • Although the term “Acts of God” is bandied about by most of us, it is not a term that’s actually included in homeowners insurance policies.

We all live on planet earth, so accordingly, we are susceptible to all kinds of unexpected occurrences.  Importantly, let me repeat-

  • Get/Stay informed.
  • Gather information about your property and any “potential” hazards.
  • Take appropriate mitigating actions to remove any threat(s) if possible.
  • Consult your insurance agent for the best advice on protecting yourself, your home and your family.
  • Should you not already have a trusted insurance agent/advisor, request some references from your Realtor.

Home ownership is an adventure.  Suit up, and enjoy it!