Category: Buying Advice

What to do when buying real estate in Lake Oswego, Oregon

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Market Activity ~ July 22-28, 2019

There are a total of 303 homes for sale in Lake Oswego right now. Last week 17 New properties entered the market, 28 moved to Pending status, and 20 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 22-28, 2019)

Address List Price # Beds # Baths Total SF Prop Type
93 OSWEGO SMT / Upper $239,000 2 2 1212 CONDO
18365 SW 65TH AVE $389,000 3 1 1032 DETACHD
17273 BRYANT RD $492,000 3 1.1 1452 DETACHD
15275 BOONES WAY $529,000 2 2 1320 ATTACHD
16921 KARA LN $620,000 3 2.1 2382 DETACHD
4989 MULHOLLAND DR $624,500 2 2.1 2403 ATTACHD
13660 SHIREVA DR $679,000 4 3 2674 DETACHD
440 9TH ST $688,000 3 2 2475 DETACHD
5709 CHARLES CIR $772,850 4 2.1 2912 DETACHD
15870 TWIN FIR RD $934,000 3 2.1 2856 DETACHD
531 LAUREL ST $985,000 4 3.1 2771 DETACHD
144 LEONARD ST $1,229,000 4 3.1 3552 DETACHD
1692 VILLAGE PARK LN $1,299,000 4 3.1 3500 DETACHD
1369 ANDREWS RD $1,550,000 6 4.1 3513 DETACHD
17171 CEDAR RD $1,795,000 4 3.1 3746 DETACHD
13085 SW KNAUS RD $2,300,000 4 2.1 3993 DETACHD
18783 STAFFORD RD $2,795,000 5 4.2 5757 DETACHD

PENDING SALES (July 22-28, 2019, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
8 CRESTFIELD CT / Upper $172,900 1 1 689 CONDO 11
239 CERVANTES / Upper $189,000 2 2 1100 CONDO 91
45 EAGLE CREST DR #516 $200,000 0 1 600 CONDO 36
200 BURNHAM RD #403 $250,000 2 1 1199 CONDO 11
4000 CARMAN DR, B23 $265,000 2 2 866 CONDO 9
668 MCVEY AVE 310 $299,995 3 1.1 992 CONDO 118
5835 COLBY CT $419,900 3 1.1 1209 DETACHD 8
15252 BOONES WAY $450,000 3 2 1672 ATTACHD 283
112 TOUCHSTONE TER $485,000 3 2.1 1964 TOWNHSE 12
1659 OAK ST $549,000 3 2.1 1885 DETACHD 30
1029 LAUREL ST $575,000 3 2.1 3188 DETACHD 8
3977 BASS LN $599,000 3 2 1953 DETACHD 6
8 WALKING WOODS DR $599,900 4 3 3105 DETACHD 182
4889 HAMPTON CT $599,900 3 2.1 2206 DETACHD 95
16950 LAKERIDGE DR $659,000 4 2.1 2346 DETACHD 9
5602 SOUTHWOOD DR $660,000 3 2.1 2636 DETACHD 3
19 HIDALGO ST $735,000 4 3.1 4747 DETACHD 19
13202 ROGERS RD $759,950 4 2.1 3117 DETACHD 62
2927 TOLKIEN LN $798,000 4 2.1 2819 DETACHD 8
17802 TREE TOP LN $799,900 4 3.1 4110 DETACHD 1
15167 BROOK CT $920,000 4 3.1 3880 DETACHD 66
5680 CHILDS RD $999,990 5 4.1 3430 DETACHD 68
4721 FIRWOOD RD $1,099,000 4 2.1 3575 DETACHD 239
4320 HAVEN ST $1,200,000 4 3.1 4526 DETACHD 165
17979 KELOK RD $1,239,000 2 2.1 2487 DETACHD 7
2912 WEMBLEY PARK RD $1,435,000 4 3.2 4389 DETACHD 155
17613 KELOK RD $2,098,000 4 3 4750 DETACHD 34
920 WESTPOINT RD $4,300,000 4 4.1 6337 DETACHD 162

SOLD (July 22-28, 2019, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #125 $210,000 $198,000 2 2 984 CONDO 256
47 EAGLE CREST DR #18 $199,999 $209,500 2 1 932 CONDO 36
45 CONDOLEA CT $459,900 $425,000 2 2.1 2157 CONDO 9
7210 SW CHILDS RD $424,900 $433,000 3 2 1542 DETACHD 168
138 KINGSGATE RD $475,000 $466,000 3 2.1 1680 DETACHD 8
5737 WASHINGTON CT $478,500 $478,500 4 1.1 1508 DETACHD 2
1117 HEMLOCK ST $525,000 $504,117 3 2 1680 DETACHD 91
939 F AVE $550,000 $550,000 4 2 1706 DETACHD 0
1041 C AVE $630,000 $594,000 3 2 1580 DETACHD 7
17475 WESTVIEW DR $619,950 $604,000 3 2.1 2602 DETACHD 27
1926 WOODLAND TER $609,900 $611,900 4 3 2752 DETACHD 4
16134 WHITE OAKS DR $749,900 $680,000 4 2.1 2613 DETACHD 23
750 BRIERCLIFF LN $769,000 $740,000 3 3 2682 DETACHD 33
26 WILBUR ST $780,000 $750,000 3 2.1 2802 CONDO 18
4250 VIRGINIA WAY $849,000 $915,000 5 5 3283 DETACHD 2
5728 BAY CREEK DR $945,000 $925,000 5 2.1 3598 DETACHD 25
686 RIDGEWAY RD $1,075,000 $1,050,000 5 3 3048 DETACHD 303
19375 SW EASTSIDE RD $1,150,000 $1,150,000 4 3.1 4439 DETACHD 3
367 10TH ST $1,289,000 $1,228,000 4 3.1 3807 DETACHD 21
3096 WEMBLEY PARK RD $1,575,000 $1,415,000 5 4 4165 DETACHD 137

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

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Market Activity ~ July 8-14, 2019

There are a total of 311 homes for sale in Lake Oswego right now. Last week 29 New properties entered the market, 25 moved to Pending status, and 20 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (July 8-14, 2019)

Address List Price # Beds # Baths Total SF Prop Type
8 CRESTFIELD CT $172,900 1 1 689 CONDO
44 EAGLE CREST DR #23 $177,900 1 1 798 CONDO
100 KERR PKWY #9 $198,000 2 1.1 823 CONDO
668 MCVEY AVE #77 $224,900 1 1 496 CONDO
16250 PACIFIC HWY #82 $234,900 1 1 841 CONDO
200 BURNHAM RD #403 $250,000 2 1 1199 CONDO
3828 BOTTICELLI ST $279,000 3 2 1273 TOWNHSE
34 WHEATHERSTONE #17 $399,900 3 2.1 1692 CONDO
27 GREENRIDGE CT $450,000 3 2.1 2140 TOWNHSE
112 TOUCHSTONE TER $485,000 3 2.1 1964 TOWNHSE
150 KINGSGATE RD $494,900 3 2 1502 DETACHD
17608 SYDNI CT $565,000 3 2.1 2466 TOWNHSE
4281 CHAPMAN WAY $569,900 4 3 2038 DETACHD
2415 GLEN HAVEN RD $599,900 5 3 2614 DETACHD
19415 SYCAMORE AVE $599,995 4 2 1584 DETACHD
5020 JEAN RD $639,000 3 2 1837 DETACHD
17573 BLUE HERON CT $660,000 4 3 2464 DETACHD
16 DA VINCI $679,921 4 2.1 2460 DETACHD
75 NANSEN SMT $695,000 4 3.1 3214 DETACHD
18263 ANDUIN TER $749,000 4 3 3103 DETACHD
2903 LAKEVIEW BLVD $770,000 2 2.1 1951 DETACHD
15008 TWIN FIR RD $789,900 5 3.1 3532 DETACHD
5550 JEAN RD $1,079,000 4 2.1 2784 DETACHD
15982 Parker RD $1,100,000 4 3.1 3135 DETACHD
1125 NORTHSHORE RD $1,150,000 3 2 1589 DETACHD
589 7TH ST $1,299,000 5 4.1 3657 DETACHD
17437 CANAL CIR $1,830,000 4 2.1 2815 DETACHD
13311 LESLIE CT $2,295,000 5 5 5601 DETACHD
15825 OSWEGO SHORE CT $2,299,000 3 3.1 4317 DETACHD

PENDING SALES (July 8-14, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE #125 $210,000 2 2 984 CONDO 256
750 1ST ST #D22 $269,000 2 2 1350 CONDO 28
245 CERVANTES $274,900 2 2 1292 CONDO 28
3834 BOTTICELLI ST $279,500 2 2 1055 CONDO 12
16250 PACIFIC HWY #46 $360,000 2 2 1305 CONDO 12
114 GREENRIDGE CT $395,000 2 2 1824 TOWNHSE 60
908 BICKNER ST $465,000 3 2 2263 DETACHD 26
805 BULLOCK ST $519,900 4 2 2482 DETACHD 18
14333 SHERBROOK PL $588,000 3 2 1475 DETACHD 8
14664 RAINBOW DR $635,000 3 2.1 3122 DETACHD 21
737 ASH ST $649,990 4 2 2428 DETACHD 118
2401 GLEN HAVEN RD $675,000 4 3 2942 DETACHD 38
25 EL GRECO ST $685,000 6 3 3731 DETACHD 26
1426 GREENTREE CIR $689,900 4 3 3216 DETACHD 14
5492 YORKSHIRE PL $699,900 4 2.1 2462 DETACHD 46
949 CUMBERLAND RD $750,000 4 2.1 2420 DETACHD 15
5332 LOWER DR $775,000 3 2.1 2632 DETACHD 76
17760 OVERLOOK CIR $779,000 4 3 2357 DETACHD 5
5959 SUNCREEK DR $829,000 4 2.1 3315 DETACHD 1
648 3rd St $869,900 3 2.1 2092 CONDO
32 WILBUR ST $879,000 2 2.1 2671 TOWNHSE 63
29 HILLSHIRE DR $999,000 4 2.1 4690 DETACHD 144
18058 PILKINGTON RD $1,140,000 3 3 3185 DETACHD 82
611 RIDGEWAY RD $1,599,000 4 5.1 4463 DETACHD 128
13430 FIELDING RD $2,200,000 4 3.1 4376 DETACHD 332

SOLD (July 8-14, 2019)

Address Opening Price Close Price # Beds # Baths Total SF Prop Type CDOM
12 CERVANTES CIR #7A $200,000 $200,000 2 1.1 912 CONDO 2
16250 PACIFIC HWY #56 $249,900 $249,900 2 2 1305 CONDO 5
48 EAGLE CREST DR #1E $272,000 $259,000 2 2 1370 CONDO 31
5061 FOOTHILLS DR G $335,000 $311,900 2 2 991 CONDO 56
1367 BONNIEBRAE DR $299,500 $325,000 2 1.1 1008 TOWNHSE 48
4648 REMBRANDT LN $460,000 $439,900 3 2.1 1773 DETACHD 26
1124 HEMLOCK ST $495,000 $486,000 3 2 1257 DETACHD 4
18651 SW DON LEE WAY $524,900 $534,900 4 2 1630 DETACHD 35
2380 DELLWOOD DR $549,999 $545,000 4 3.1 2407 DETACHD 5
19111 INDIAN SPRINGS RD $599,000 $585,000 6 3.1 2432 DETACHD 19
5421 RED LEAF ST $579,900 $589,900 3 2.1 2372 DETACHD 2
17644 SYDNI CT $615,000 $595,000 4 2.1 2460 TOWNHSE 32
209 HIDALGO ST $615,000 $615,000 4 2.1 2609 DETACHD 3
13388 AUBURN CT $609,000 $619,000 3 2.1 2492 ATTACHD 134
2388 OVERLOOK DR $675,000 $645,000 4 3 2765 DETACHD 25
16 INDEPENDENCE AVE $749,900 $725,000 4 3 3979 DETACHD 43
16039 BONAIRE AVE $979,900 $984,000 4 3 3308 DETACHD 20
885 9TH ST $1,499,000 $1,465,000 4 3.1 3757 DETACHD 46
1233 CHERRY LN $2,399,000 $1,750,000 5 4.1 6052 DETACHD 279
2322 KNAUS RD $1,898,000 $1,825,000 4 3.2 5087 DETACHD 214

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

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News & Notes ~ June 2019 Numbers

Here is your look at the most recent data for the entire Portland area (June 2019) and how Lake Oswego fits in to this picture just below.

According to the RMLS Market Action Report for the Portland Metro Area, June, 2019:

  • There were 4,281  New Listings in June 2019 which was down 5.2%  from June of 2018’s 4,515, and a whopping 12.7% from the previous month/May’s 4,902.
  • At 2,756 June 2019’s Closed Sales were also down at 6.4% under June 2018’s 2,946, and  7.2% increase over the previous month/May 2019’s total of 2,969.
  • June 2019’s Pending Sales (accepted offers), at 3,083 were up a tiny bit at  0.8% over June of 2018’s 3,059, but down 6.3% from the previous month/May 2019’s total of  3,292.
  • The Average Sale Price in June 2019 of $472,700 rose only slightly at $300.00 over last year/June 2018’s $472,400, and was up just $1,500 from the previous month/May 2019’s $471,200.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in June 2019 of $420,000 was up modestly from last year/June 2018’s $417,900 by $2,100, and exactly the same as the previous month/May 2019’s $420,000 .   

Neighborhoods: June’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $417,900              0.2%   (May 405,000)
    •                                                     YTD Median: $405,000
  • NE Portland:  $491,500                   0.0%   (May $534,500)
    •                                                     YTD Median: $429,700
  • SE Portland:  $434,700                   3.4%   (May $433,500)
    •                                                     YTD Median: $375,000
  • Gresham/Troutdale:   $374,900     5.8%   (May $368,200)
    •                                                     YTD Median: $353,500
  • Milwaukie/Clackamas:  $484,200  3.3%   (May $444,600)
    •                                                     YTD Median: $414,000
  • Oregon City/Canby:   $460,900      6.2%   (May $435,700)
    •                                                     YTD Median: $413,000
  • Lake Oswego/West Linn:$702,000 0.2%   (May $695,600)
    •                                                      YTD Median: $580,000
  • West Portland:    $611,000             1.3%   (May $637,800 )
    •                                                     YTD Median: $525,000
  • NW Wash County:  $535,000         -1.9%   (May $536,900 )
    •                                                      YTD Median: $510,000
  • Beaverton/Aloha:     $411,100       5.8%   (May $414,200)
    •                                                     YTD Median: $390,000
  • Tigard/Wilsonville:   $472,800        2.0%   (May $472,100)
    •                                                      YTD Median: $440,000
  • Hillsboro/Forest Grove: $433,200  3.4%   (May $423,400)
    •                                                      YTD Median: $380,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of June 2019 reported:

    •  468 Active Listings  (May 450)
    •  230 New Listings     (May 318)
    •  170 Pending Sales   (May 187)
    •  166 Closed Sales      (May 161)
    • Average Sale Price for June: $702,600  (May $695,600)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  79 Average Days on the Market   (May 64)

 

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Market Activity ~ June 24-30, 2019

There are a total of 305 homes for sale in Lake Oswego right now. Last week 18 New properties entered the market, 27 moved to Pending status, and 26 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (June 24-30, 2019)

Address List Price # Beds # Baths Total SF Prop Type
3834 BOTTICELLI ST $279,500 2 2 1055 CONDO
16250 PACIFIC HWY #46 $360,000 2 2 1305 CONDO
45 CONDOLEA CT $425,000 2 2.1 2157 CONDO
6216 WAYZATA CT $440,000 3 2 1261 DETACHD
15360 TWIN FIR RD $460,000 3 1 1020 DETACHD
138 KINGSGATE RD $475,000 3 2.1 1680 DETACHD
805 BULLOCK ST $519,900 4 2 2482 DETACHD
21 PARTRIDGE LN $599,000 4 3 2492 DETACHD
1621 WOODLAND TER $625,000 4 2.1 2933 DETACHD
1426 GREENTREE CIR $689,900 4 3 3216 DETACHD
949 CUMBERLAND RD $750,000 4 2.1 2420 DETACHD
1771 CAMPUS WAY $778,000 3 3 3247 DETACHD
1982 WEMBLEY PARK RD $840,000 6 4 4561 DETACHD
14066 EDENBERRY DR $1,050,000 4 3.1 3835 DETACHD
4715 FIRWOOD RD $1,099,000 4 3 3607 DETACHD
4721 FIRWOOD RD $1,099,000 4 2.1 3575 DETACHD
489 8TH ST $1,695,000 5 5.1 3700 DETACHD
705 TERRACE DR $2,695,000 4 3.1 3623 DETACHD

PENDING SALES (June 24-30, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #18 $199,999 2 1 932 CONDO 36
202 CERVANTES / Grnd $205,000 2 2 890 CONDO 50
5225 JEAN RD #603 $300,000 3 2 1400 CONDO 122
5737 WASHINGTON CT $478,500 4 1.1 1508 DETACHD 2
32 AQUINAS ST $479,990 3 2 1518 DETACHD 7
1308 CORNELL ST $495,000 4 2 1750 DETACHD 8
17468 FIR RD $550,000 3 2.5 1820 DETACHD 5
19061 INDIAN SPRINGS RD $557,500 4 3 2341 DETACHD 48
225 HIDALGO ST $574,900 4 2.1 2251 DETACHD 7
5955 WASHINGTON CT $575,000 5 2.1 2554 DETACHD 45
15136 GLEN EAGLES CT $599,000 5 3 3150 DETACHD 163
17781 OVERLOOK CIR $599,900 4 2.1 2741 DETACHD 4
17617 SYDNI CT $615,000 4 2.1 2651 TOWNHSE 36
17435 UPPER CHERRY LN $639,000 3 2.1 3384 DETACHD 80
14371 UPLANDS DR $739,000 3 2 2358 DETACHD 54
13202 ROGERS RD $759,950 4 2.1 3117 DETACHD 39
8 OTHELLO ST $799,900 6 4 3690 DETACHD 1
35 HIDALGO ST $879,000 3 3.1 3926 DETACHD 325
17590 BLUE HERON RD $879,900 3 3.1 2160 DETACHD 5
2358 SUMMIT DR $880,000 3 2.1 2995 DETACHD 14
5327 CARMAN GROVE LN $918,000 4 3 3125 DETACHD 99
5476 SOUTHWOOD DR $950,000 5 3 3858 DETACHD 11
19375 SW EASTSIDE RD $1,150,000 4 3.1 4439 DETACHD 3
2008 RIDGEWOOD RD $1,170,000 4 4.1 4268 DETACHD 9
841 NORTHSHORE RD $1,339,000 3 3 2388 DETACHD 189
3096 WEMBLEY PARK RD $1,499,500 5 4 4165 DETACHD 137
15880 OSWEGO SHORE CT $1,585,000 4 3.1 4084 DETACHD 432

SOLD (June 24-30, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
17 OSWEGO SMT / Grnd $125,000 $143,000 1 1 764 CONDO 4
4 TOUCHSTONE #114 $184,900 $170,000 2 2 984 CONDO 6
88 OSWEGO SMT / Upper $175,000 $172,000 1 1 764 CONDO 5
55 OSWEGO SMT / Main $175,000 $180,000 1 1 721 CONDO 3
4 TOUCHSTONE #119 $199,000 $200,000 3 2.1 1351 CONDO 5
170 OSWEGO SMT / Grnd $259,950 $255,450 2 2 1506 CONDO 19
12864 BOONES FERRY RD $389,900 $388,900 2 2.1 1182 CONDO 34
4201 COBB WAY $500,000 $510,000 4 3 2242 DETACHD 3
17 GROUSE TER $650,000 $634,000 4 2.1 3202 DETACHD 7
14 NORTHVIEW CT $695,000 $675,000 4 3.1 3279 ATTACHD 62
1925 GLENMORRIE DR $674,900 $675,000 4 3 2697 DETACHD 3
14580 UPLANDS DR $699,000 $684,000 3 3 2120 DETACHD 39
17488 MARDEE AVE $699,900 $699,900 4 2.1 2168 DETACHD 2
17184 CARLSON CT $725,000 $711,500 4 3.1 3318 DETACHD 9
14058 CHATHAM CT $739,000 $735,000 3 2.1 2235 DETACHD 9
17797 OVERLOOK CIR $749,900 $750,000 4 3 3208 DETACHD 2
1590 BONNIEBRAE DR $749,000 $751,000 4 3 3163 DETACHD 44
79 TANGLEWOOD DR $750,000 $775,000 4 3 3130 DETACHD 3
181 3RD ST #5 $849,000 $810,000 2 2 1725 CONDO 306
197 FURNACE ST / Upper $839,000 $839,000 2 2.1 2091 CONDO 0
5475 WESTFIELD CT $924,900 $902,000 4 2.1 3335 DETACHD 10
267 FURNACE ST $1,098,000 $1,050,000 3 3 3493 DETACHD 16
13047 KNAUS RD $1,195,500 $1,125,000 4 3.2 4200 DETACHD 600
1949 CEDAR CT $1,699,000 $1,500,000 5 5.1 6330 DETACHD 64
15845 OSWEGO SHORE CT $2,150,000 $1,900,000 4 4.1 5500 DETACHD 372
2088 CREST DR $3,799,000 $3,280,000 4 5.1 7737 DETACHD 1337

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

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Time to Talk FIRPTA

FIRPTA has been around for along time, but today, it’s become something that Realtors are making an effort to make sure that their clients are fully informed about. FIRPTA is the Foreign Investment in Real Property Tax Act. It is a way for the IRS to collect capital gains from non U.S. citizens who are selling real estate, but don’t live in the United States.

It is particularly important to buyers because if not handled correctly, it has huge financial consequences.

FIRPTA requires that a non resident foreign person pay 10% (for sales of $300,000 to $1,000,000) or 15% (for sales over $1,000,000) of the sales price of the property to the IRS at closing. This will force the non resident foreign person to file a tax return to get back any money that was over collected.

It’s pretty logical. I’d say that there’s a high likelihood that if this was not done, that taxes owing as capital gain would never be collected because the person and the money would be outside of the United States.

So, this may seem pretty mundane, but here is the kicker. If the money is not collected and paid to the IRS, then it becomes a liability to the person who bought the house. Yes, people who seem perfectly innocent can then be hit with an IRS bill in the thousands of dollars. Not so mundane any more, right?

When handled correctly, buyers and sellers will see a disclosure about this issue right up front. Then an affidavit is signed by the home seller to state whether they are a non resident foreign person or not. This affidavit is held by the title company involved to be safe guarded for 6 years on behalf of the buyer of the home. It is a way to protect buyers by showing that every effort was made to comply with FIRPTA. When this is done, the buyer is not liable to the IRS.

This is one reason it’s a good idea to use a Realtor. We take classes and stay informed about issues that are important in the home buying process. We are here to make your experience smooth and successful in every way possible.

As always, thanks for reading the blotter.
Dianne

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News & Notes ~ May 2019 Numbers

Here is your look at the most recent data for the entire Portland area (May 2019) and how Lake Oswego fits in to this picture just below.

According to the RMLS Market Action Report for the Portland Metro Area, May, 2019:

  • There were 4,902  New Listings in May 2019 which was up 5.1%  from May of 2018’s 4,665, and a whopping 16.4% increase over the previous month/April’s 4,210.  (***Strongest May since 2008 which was 5,182.)
  • At 2,969 May 2019’s Closed Sales were up 5.9% from May 2018’s 2,803, and again, a whopping 23.2% increase over the previous month/April 2019’s total of 2,409. (***Strongest May since 2006 which was 3,054.)
  • May 2019’s Pending Sales (accepted offers), at 3,292 were up 2.8% from May of 2018’s 3,201, and also up 6.1% from the previous month/April 2019’s total of  3,102.
  • The Average Sale Price in May 2019 of $471,200 rose $10,500 from last year/May 2018’s $460,700, and was up $19,100 from the previous month/April 2019’s $452,100.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in May 2019 of $420,000 was up from last year/May 2018’s $409,000 by $11,000, and up $15,000.00, from the previous month/April 2019’s $405,000 .   

Neighborhoods: May’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $426,300              1.6%   (Apr 421,300 )
    •                                                     YTD Median: $405,000
  • NE Portland:  $534,500                   0.7%   (Apr 446,800  )
    •                                                     YTD Median: $406,500
  • SE Portland:  $433,500                   4.2%   (Apr 422,100)
    •                                                     YTD Median: $373,500
  • Gresham/Troutdale:   $368,200     5.4%   (Apr 390,300)
    •                                                     YTD Median: $353,500
  • Milwaukie/Clackamas:  $444,600  2.6%   (Apr 452,900)
    •                                                     YTD Median: $409,000
  • Oregon City/Canby:   $435,700      6.3%   (Apr 432,800)
    •                                                     YTD Median: $405,000
  • Lake Oswego/West Linn:$695,600 0.9%   (Apr 654,900)
    •                                                      YTD Median: $580,000
  • West Portland:    $637,800             2.3%   (Apr 578,000)
    •                                                     YTD Median: $525,000
  • NW Wash County:  $536,900         -0.4%   (Apr 538,500)
    •                                                      YTD Median: $510,100
  • Beaverton/Aloha:     $414,200       7.5%   (Apr 393,000)
    •                                                     YTD Median: $389,000
  • Tigard/Wilsonville:   $472,100        3.0%   (Apr 467,500)
    •                                                      YTD Median: $435,000
  • Hillsboro/Forest Grove: $423,400  4.2%   (Apr 395,200)
    •                                                      YTD Median: $379,900

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of May 2019 reported:

    •  450 Active Listings  (Apr 385)
    •  318 New Listings     (Apr 285)
    •  187 Pending Sales   (Apr 162)
    •  161 Closed Sales      (Apr 131)
    • Average Sale Price for May: $695,600  (Apr $654,900)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  64 Average Days on the Market   (Apr 62)

 

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Market Activity ~ June 10-16, 2019

There are a total of 305 homes for sale in Lake Oswego right now. Last week 20 New properties entered the market, 23 moved to Pending status, and 21 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (June 10-16, 2019)

Address List Price # Beds # Baths Total SF Prop Type
47 EAGLE CREST DR #60 $224,900 3 2 1026 ATTACHD
750 1ST ST #D22 $269,000 2 2 1350 CONDO
5 BLOCH TER $399,900 3 2.1 1972 TOWNHSE
5787 BALEINE ST $419,900 3 1 960 DETACHD
45 GREENRIDGE CT $465,000 3 2.1 1652 TOWNHSE
6024 FERNBROOK CIR $475,000 3 2 1616 DETACHD
908 BICKNER ST $499,500 3 2 2263 DETACHD
524 2ND ST $539,500 2 2.1 1547 CONDO
1640 MAPLE ST $625,000 3 2 2091 DETACHD
4938 MULHOLLAND DR $629,900 3 2.1 2558 ATTACHD
21 GROUSE TER $647,000 4 2.1 3108 DETACHD
25 EL GRECO ST $685,000 6 3 3731 DETACHD
17790 WESTVIEW DR $689,900 4 3 3387 DETACHD
2358 SUMMIT DR $880,000 3 2.1 2995 DETACHD
2151 CREST DR $975,000 4 2.1 4027 DETACHD
15469 DIAMOND HEAD RD $1,298,000 4 3 3734 DETACHD
16359 CHAPIN WAY $1,395,000 4 3.1 4158 DETACHD
13711 FIELDING RD $1,500,000 4 4 4649 DETACHD
3180 DOUGLAS CIR $1,625,000 5 2.2 4768 DETACHD
6720 CHILDS RD $1,950,000 5 4.1 6898 DETACHD

PENDING SALES (June 10-16, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
17 OSWEGO SMT / Grnd $125,000 1 1 764 CONDO 4
5061 FOOTHILLS DR #G $311,900 2 2 991 CONDO 56
9 EAGLE CREST DR $429,000 3 2 1492 DETACHD 5
4201 COBB WAY $499,500 4 3 2242 DETACHD 3
27 PARTRIDGE LN $549,000 3 2 2493 DETACHD 28
5955 WASHINGTON CT $575,000 5 2.1 2554 DETACHD 31
19111 INDIAN SPRINGS RD $579,000 6 3.1 2432 DETACHD 19
17644 SYDNI CT $599,000 4 2.1 2460 TOWNHSE 32
1926 WOODLAND TER $609,900 4 3 2752 DETACHD 4
209 HIDALGO ST $615,000 4 2.1 2609 DETACHD 3
1588 CHERRY LN $649,987 3 2 2001 DETACHD 207
2388 OVERLOOK DR $650,000 4 3 2765 DETACHD 25
16134 WHITE OAKS DR $699,999 4 2.1 2613 DETACHD 23
5492 YORKSHIRE PL $719,900 4 2.1 2462 DETACHD 17
13488 SNOWBERRY CT $729,000 4 2.1 3073 DETACHD 38
18018 GIMLEY CT $754,900 4 3 3612 DETACHD 371
750 BRIERCLIFF LN $769,000 3 3 2682 DETACHD 33
2272 PARK RD $779,900 3 3 2325 DETACHD 2
16176 MATTHEW CT $839,900 4 2.1 3474 DETACHD 7
4250 VIRGINIA WAY $849,000 5 5 3283 DETACHD 2
909 CUMBERLAND PL $950,000 4 3 3267 DETACHD 72
15446 BOONES WAY $1,300,000 3 2.1 3364 ATTACHD 33
2088 CREST DR $3,499,000 4 5.1 7737 DETACHD 1337

SOLD (June 10-16, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
4625 LAKEVIEW BLVD / Grnd $199,900 $194,880 1 1 753 CONDO 29
3433 MCNARY PKWY #211 $216,000 $216,000 2 2 1008 CONDO 41
1444 BOCA RATAN DR $369,000 $363,000 3 2 1393 ATTACHD 5
50 NORTHVIEW CT $499,900 $495,000 3 2.1 2206 TOWNHSE 14
13786 REGENCY CT $560,000 $533,000 3 2 2045 DETACHD 65
20 AQUINAS ST $549,900 $549,900 4 2.1 1837 DETACHD 7
647 2ND ST $579,900 $579,900 2 2 1457 ATTACHD 36
13342 AUBURN CT $614,900 $610,000 3 2.1 2492 ATTACHD 13
4660 BLACK FOREST CT $575,000 $611,000 4 2.1 2157 DETACHD 1
2227 HILLSIDE DR $675,000 $665,000 4 3 3003 DETACHD 204
4362 GLACIER LILY ST $719,000 $731,000 4 2.1 2808 DETACHD 4
17566 BLUE HERON CT $774,800 $764,800 4 3 2681 DETACHD 15
203 HIDALGO ST $800,000 $775,000 4 3.1 4310 DETACHD 4
1961 SUMMIT DR $896,000 $861,000 3 2.1 3137 DETACHD 51
5421 BAY CREEK DR $799,900 $865,000 4 2.1 3232 DETACHD 1
14520 PFEIFER DR $882,000 $875,000 4 3.1 4013 DETACHD 213
1111 BAYBERRY RD $1,098,000 $1,000,000 3 2 2042 DETACHD 46
3822 LAKE GROVE AVE $1,500,000 $1,150,000 5 3.2 5335 DETACHD 363
13078 FIELDING RD $1,500,000 $1,250,000 4 2 3936 DETACHD 15
3127 DOUGLAS CIR $1,579,000 $1,549,000 4 3.1 3870 DETACHD 170
1475 OAK TER $2,450,000 $2,208,000 3 3.1 3674 DETACHD 23

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

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Market Activity ~ May 27-June 2, 2019

There are a total of 306 homes for sale in Lake Oswego right now. Last week 17 New properties entered the market, 26 moved to Pending status, and 29 were “Closed”/Sold.

Following is the breakdown for you according to RMLS:

NEW on Mkt (May 27-June 2, 2019)

Address List Price # Beds # Baths Total SF Prop Type
4 TOUCHSTONE #91 $232,500 2 2 993 CONDO
16250 PACIFIC HWY #71 $245,000 2 2 1305 CONDO
51 GALEN ST / Main $250,000 2 0.2 993 CONDO
47 ORIOLE LN $479,000 3 2.1 1958 DETACHD
22 JUAREZ ST $649,000 4 2.1 3096 DETACHD
2401 GLEN HAVEN RD $699,900 4 3 2942 DETACHD
5492 YORKSHIRE PL $719,900 4 2.1 2462 DETACHD
4120 ORCHARD WAY $739,000 4 3 3123 DETACHD
5206 ROYAL OAKS DR $775,000 5 3.1 2985 DETACHD
1952 EGAN WAY $1,200,000 3 3 2961 DETACHD
2399 PALISADES CREST DR $1,300,000 5 4.1 4452 DETACHD
16653 FIR LN $1,498,000 4 3.1 3957 DETACHD
3137 DOUGLAS CIR $1,750,000 4 3.1 4378 DETACHD
1411 LAKE FRONT RD $2,098,000 3 4 3349 DETACHD
852 NORTHSHORE RD $2,498,000 4 5 4211 DETACHD
736 SOUTHVIEW RD $3,598,000 4 3.2 4639 DETACHD
1775 SOUTHSHORE BLVD $5,498,000 3 4.3 5401 DETACHD

PENDING SALES (May 27-June 2, 2019)

Address List Price # Beds # Baths Total SF Prop Type CDOM
239 CERVANTES / Upper $189,000 2 2 1100 CONDO 41
4 TOUCHSTONE #119 $199,000 3 2.1 1351 CONDO 5
4 TOUCHSTONE #125 $210,000 2 2 984 CONDO 218
3433 MCNARY PKWYb #211 $216,000 2 2 1008 CONDO 41
5225 JEAN RD #305 $269,900 2 2 1098 CONDO 133
3862 BOTTICELLI ST / Grnd $279,900 3 2 1224 CONDO 8
3982 CARMAN DR $339,900 3 2.1 1360 CONDO 42
16184 LAKE FOREST BLVD $349,000 3 1 1342 DETACHD 55
1918 BONNIEBRAE DR $400,000 4 2 1595 TOWNHSE 18
7210 SW CHILDS RD $424,900 3 2 1542 DETACHD 168
48 ORIOLE LN $509,000 3 2 2072 ATTACHD 20
18651 SW DON LEE WAY $524,900 4 2 1630 DETACHD 35
4261 COLLINS WAY $525,000 3 2 1476 DETACHD 7
23 SPINOSA $549,000 3 2 2767 DETACHD 171
18667 PILKINGTON RD $570,000 4 2.1 2512 DETACHD 84
5421 RED LEAF ST $579,900 3 2.1 2372 DETACHD 2
1305 HALLINAN ST $599,000 4 3 2510 DETACHD 2
19040 OLSON AVE $600,000 4 3 2642 DETACHD 24
15518 HERITAGE CT $625,000 4 3.1 2700 DETACHD 2
9 JUAREZ ST $679,000 4 3.1 2823 DETACHD 46
14058 CHATHAM CT $739,000 3 2.1 2235 DETACHD 9
128 NORTHSHORE RD $857,500 4 3 2695 DETACHD 97
324 9TH ST $1,200,000 4 2.1 2743 DETACHD 46
17900 SARAH HILL LN $1,240,000 4 3 4186 DETACHD 27
885 9TH ST $1,499,000 4 3.1 3757 DETACHD 46
15845 OSWEGO SHORE CT $1,965,500 4 4.1 5500 DETACHD 372

SOLD (May 27-June 2, 2019)

Address Opening Price Closed Price # Beds # Baths Total SF Prop Type CDOM
100 KERR PKWY #46 $159,900 $159,650 1 1 617 CONDO 11
48 EAGLE CREST DR #3B $309,000 $286,500 2 2 1550 CONDO 23
16726 CARNEGIE AVE $449,900 $453,855 3 2 1368 DETACHD 16
4725 JEAN RD $484,900 $464,500 4 2 1433 DETACHD 27
14352 SHERBROOK PL $475,000 $475,000 3 2.1 1806 DETACHD 17
210 S STATE ST #8 $499,000 $505,000 3 2.1 1614 CONDO 4
17606 SYDNI CT $549,000 $540,000 3 2.1 2442 TOWNHSE 40
6435 FROST ST $579,950 $569,900 3 2.1 1838 DETACHD 404
17615 SYDNI CT $599,000 $585,000 4 2.1 2651 TOWNHSE 62
4999 BILFORD LN $579,000 $628,000 3 2.1 1917 DETACHD 7
14273 AMBERWOOD CIR $700,000 $640,000 4 2.1 2480 DETACHD 330
7 GROUSE TER $750,000 $720,000 3 2.1 2516 DETACHD 7
860 SKYLAND DR $825,000 $770,000 4 3 4067 DETACHD 60
663 CARRERA LN $775,000 $770,000 3 2 2197 DETACHD 31
5227 WESTFIELD CT $772,000 $772,000 4 2.1 3091 DETACHD 4
2350 SOUTHSHORE BLVD $795,000 $810,000 3 2.1 2236 DETACHD 10
5064 HASTINGS DR $829,000 $815,000 5 2.1 3739 DETACHD 271
391 LIVINGOOD LN $899,000 $941,000 5 3 3872 DETACHD 7
1050 SCHUKART LN $1,099,000 $1,076,000 4 3.1 5437 DETACHD 14
12816 ALTO PARK RD $1,295,000 $1,150,000 5 4 3846 DETACHD 73
3950 EDENS EDGE DR $1,249,000 $1,180,000 4 3.1 4382 DETACHD 21
3906 BASS LN $1,349,000 $1,195,000 4 3.1 4311 DETACHD 51
3210 CHILDS RD $1,239,000 $1,200,000 3 2.2 2936 DETACHD 26
556 6TH ST $1,300,000 $1,300,000 4 3 3088 DETACHD 0
515 NORTHSHORE RD $1,395,000 $1,552,500 3 2 1691 DETACHD 0
448 COUNTRY CLUB RD $1,549,000 $1,599,000 4 3.1 4873 DETACHD 17
1101 FOREST MEADOWS WAY $1,998,000 $1,998,000 4 3.1 5001 DETACHD 311
353 G AVE $2,198,000 $2,032,500 4 3.1 5399 DETACHD 54
2646 SUMMIT DR $2,200,000 $2,200,000 4 3 3160 DETACHD 0

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

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Packing Tips for Moving

We focus so much on the process of buying and selling a house that we can get side tracked from the nuts and bolts of the move itself. I thought I’d take a moment today to reflect on what it involves and give you a few tips to make the move easier.

A recent article in The Oregonian had some great ideas that I am sharing with you here.

Use the time during your home inspection to measure rooms and storage areas. That sounds so basic, but I rarely see people do this. I carry tape measures in my car. If you forget yours you can use mine!

Knowing the size of the rooms will allow you to determine what furniture will fit where. My Mom, a retired Realtor, would go so far as to use French ruled paper (the kind with both horizontal and vertical lines that create little squares) to actually cut out and lay out each room. You don’t need to go this far, but measuring will allow you to organize in advance.

Pack the boxes based on where items will end up, not based on the rooms that they are currently in. Again, just some simple advance planning.

Keep small parts together in a plastic, sealed bag. Then tape the bag to the item that they are a part of. Trying to find a missing screw or clamp is a night mare when you are dealing with dozens of boxes.

Buy the right tools. Boxes are sold a many storage facilities. You can also do a quick google search and find local companies that sell used boxes. Think about your fragile items. Be sure to also purchase bubble wrap and items made specifically for protecting glass ware and dishes. There is also a product I just learned about, Duck brand “Mover’s Edge”. It’s packing tape that as it dispenses the edges of the tape are just slightly folded under. This allows the tape to be easily gripped and torn back to open the boxes without a cutter. Such a good idea!

Avoid spills. If it could spill, put it into a plastic bag.

Use plastic storage bins for items that won’t be unpacked. This way you can simply put holiday decorations and that sort of thing away in the new storage space.

The last time I moved I thought I could do the packing in just a couple of days. Boy, was I wrong! The last day before the actual move I was literally just throwing stuff into boxes. I had no time to sort and organize. I will never do that again. Live and learn, right?

I hope you find these tips useful, and, as always, thanks for reading the blotter.
Dianne

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News & Notes ~ April 2019 Numbers

Here is your look at the most recent data for the entire Portland area (April 2019) and how Lake Oswego fits in to this picture just below.

According to the RMLS Market Action Report for the Portland Metro Area, April, 2019:

  • There were 4,210  New Listings in April 2019 which was up 5.5%  from April of 2018’s 3,990, and up substantially at 20.1% from the previous month/March’s 3,504.
  • At 2,409 April 2019’s Closed Sales were down 4.5% from April 2018’s 2,523, BUT, were up at 10.4 % over the previous month/March 2019’s total of 2,183.
  • April 2019’s Pending Sales (accepted offers), at 3,102 were up 3.1% from April of 2018’s 3,008, and also up 13.3% from the previous month/March 2019’s total of  2,738.
  • The Average Sale Price in April 2019 of $452,100 was about the same as last year/April 2018’s $452,000, and up from the previous month/March 2019’s $447,900 by $4,200.  
  • The “Median” Sale Price (the price smack dab in the middle of all sales) in April 2019 of $405,000 was the same as last year/April 2018’s $405,000, and up $6,000.00, from the previous month/March 2019’s $399,000.   

Neighborhoods: April’s Average Sale Price + 12-month Appreciation :

  • North Portland:  $421,300              1.5%   (Mar 425,200 )
    •                                                     YTD Median: $405,000
  • NE Portland:  $446,800                   0.5%   (Mar 451,700 )
    •                                                     YTD Median: $401,500
  • SE Portland:  $422,100                   3.6%   (Mar 431,400)
    •                                                     YTD Median: $368,500
  • Gresham/Troutdale:   $390,300     5.1%   (Mar 374,600)
    •                                                     YTD Median: $350,000
  • Milwaukie/Clackamas:  $452,900  2.9%   (Mar 426,800)
    •                                                     YTD Median: $399,900
  • Oregon City/Canby:   $432,800      7.5%   (Mar 442,400)
    •                                                     YTD Median: $400,000
  • Lake Oswego/West Linn:$654,900 2.8%   (Mar 651,300)
    •                                                      YTD Median: $560,000
  • West Portland:    $578,000             1.2%   (Mar 571,800)
    •                                                     YTD Median: $516,000
  • NW Wash County:  $538,500          0.7%   (Mar 502,000)
    •                                                      YTD Median: $510,000
  • Beaverton/Aloha:     $393,000       7.5%   (Mar 405,400)
    •                                                     YTD Median: $381,000
  • Tigard/Wilsonville:   $467,500        3.8%   (Mar 445,300)
    •                                                      YTD Median: $431,000
  • Hillsboro/Forest Grove: $395,200  4.2%   (Mar 405,000)
    •                                                      YTD Median: $375,000

LAKE OSWEGO:

The combined areas of Lake Oswego and West Linn  for  the month of April 2019 reported:

    •  385 Active Listings  (Mar 326)
    •  285 New Listings     (Mar 195)
    •  162 Pending Sales   (Mar 149)
    •  131 Closed Sales      (Mar 108)
    • Average Sale Price for March: $654,900  (Mar $651,300)
      • NOTE: Higher-Priced vs Lower-Priced Homes Sales can skew the “Average” in any given month.  Lake Oswego has quite a variety, so this tends to be a less meaningful stat, generally speaking, in this niche.
    •  62 Average Days on the Market   (Mar 94)