Property Blotter

November 6, 2023November 6, 2023

This Week in Lake Oswego

Here are my picks for what to do in Lake Oswego this week!

Mon, Nov 6 , 2023 – Storyline Recording- Listen to short stories, book excerpts and poetry on demand, – INFO: CLICK HERE

Tues, Nov 7, 2023 – 2:30-4:30 PM – Slow Jam ~ Come & enjoy playing music with others! Bring your instrument and make some musical friends.. – ACC, 505 G Avenue Lake Oswego More Info: CLICK HERE

Wed, Nov 8, 2023 – 6:00 PM – Historic Resources Advisory Board ~ Review the Historic Preservation Grant from Lakewood Neighborhood, Revisions to the Historic Preservation Code, Parks Plan & More ~ Lake Oswego City Hall, 380 A Avenue ~ More Info : CLICK HERE

Thurs, Nov 9, 2023 – 6:00 PM – Teen Advisory Board! ~Be a part of planning programs including book groups, movie nights and more! ~ Lake Oswego Library, Lower Level, 706 Fourth St. – More Info: CLICK HERE

Fri, Nov 10, 2023 – 2:00-4:00 PM –Family Movie Matinee~ Start your long weekend with a movie on a rainy day at cozy Children’s Library. Featuring “Super”. ~ Lake Oswego Public Library, 706 Fourth St ~ More Info: CLICK HERE

November 5, 2023November 6, 2023

Market Activity ~ Oct 23-29, 2023

Last week in Lake Oswego there were 16 properties entering the market, 9 moving to Pending status and 11 Closed/Sold.

Here is the breakdown according to RMLS:

NEW Oct 23-29, 2023

Address	List Price	Beds	Baths	SF	Prop Type
40 CRESTFIELD CT / Upper	$239,000	$1	1	690	CONDO
2019 BONNIEBRAE DR	$525,000	$3	2	1539	ATTACHD
4510 LOWER DR, B1	$545,000	$3	2.1	1729	CONDO
1228 CEDAR ST	$625,000	$3	2	1302	DETACHD
18211 INDIAN CREEK DR	$850,000	$3	1	2204	ATTACHD
7 GROUSE TER	$935,000	$3	2.1	2516	DETACHD
17942 SAINT CLAIR DR	$969,000	$4	2.1	2533	DETACHD
21 HIDALGO ST	$1,000,000	$4	3	3392	DETACHD
807 HOODVIEW LN	$1,200,000	$4	3	3931	DETACHD
14584 PFEIFER WAY	$1,250,000	$4	2	2647	DETACHD
4360 WESTBAY RD	$1,329,000	$4	3	2636	DETACHD
17312 BERGIS FARM DR	$1,999,000	4	4.2	4804	DETACHD
541 8th ST	$2,400,000	4	3.1	3559	DETACHD
2248 SUMMIT CT	$2,450,000	4	2	3024	DETACHD
2430 SUMMIT CT	$4,500,000	3	3	3074	DETACHD
17950 KELOK RD	365. – 389,99.	4	4.1	3600	DETACHD

PENDING Oct 23-29, 2023

Address	List Price	Beds	Baths	SF	Prop Type	Days
1228 CEDAR ST	$625,000	$3	2	1302	DETACHD	2
16266 PARKER RD	$735,000	$4	2	2014	DETACHD	94
1525 IVY CT	$739,000	$4	2.1	2163	DETACHD	93
34 CHURCHILL DOWNS	$774,900	$4	3	2080	DETACHD	95
12 MORNINGVIEW LN	$799,000	$3	2.1	2730	ATTACHD	51
12123 ORCHARD HILL WAY	$874,900	$4	2.1	2841	DETACHD	107
18499 OLD RIVER DR	$1,599,000	$4	3.1	4217	DETACHD	130
3600 UPPER DR	$1,849,000	$5	3	3771	DETACHD	195
541 8th ST	$2,400,000	$4	3.1	3559	DETACHD

SOLD Oct 23-29, 2023

Address	Opening	Closed	Beds	Baths	SF	Prop Type	Days
5650 LAKEVIEW BLVD	$515,000	$449,900	$3	1	990	DETACHD	94
4980 SUNTREE LN	$549,000	$450,000	$3	2	2715	DETACHD	45
5955 CLAIRMONT CT	$579,800	$505,000	$3	2	1824	ATTACHD	162
114 GREENRIDGE CT	$599,000	$550,000	$2	1.1	1112	DETACHD	10
378 9TH ST	$749,000	$760,000	$3	2.1	2135	DETACHD	67
956 WESTPOINT RD	$1,195,000	$1,150,000	$4	3.1	4192	DETACHD	70
4688 UPPER DR	$1,350,000	$1,200,000	$3	2.1	2019	DETACHD	61
16394 LAKE FOREST BLVD	$1,250,000	$1,375,000	$5	3	3292	DETACHD	1
15290 QUARRY RD	$1,999,000	$1,971,000	$3	2.1	2404	DETACHD	5
10 INDEPENDENCE AVE	$2,198,000	$2,000,000	$4	3.1	3962	DETACHD	14
5220 FIRWOOD RD	$8,950,000	$7,000,000	$4	4.3	5235	DETACHD	111

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 (***We’ve used “Days” in each category for ease of understanding) .

October 28, 2023October 28, 2023

Where Did the Lake Go?

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

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

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

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

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

I hope you have found this information useful.

Dianne

October 27, 2023October 27, 2023

Market Activity Oct 16-22, 2023

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

See below for RMLS data.

New on the Market Oct 16-22, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
45 Eagle Crest Dr #208	Condo	$219,900	2	2	1046
16131 Lindsay Ct	Detached	$680,000	4	2.5	1832
4740 Lamont Ct	Detached	$825,000	3	2	1776
19025 Indian Springs Cir	Detached	$889,950	4	2.5	1811
18368 Tamaway Dr	Detached	$1,150,000	4	3	3741
364 Northshore Rd	Detached	$1,795,000	3	2	2066
399 Furnace St	Condo	$3,500,000	3	3.5	4072

Pending Sales Oct 16-22, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
54 Cervantes Cir	Condo	$280,000	2	1.5	912	5
3433 McNary Pkwy #503	Condo	$318,000	2	1.5	1136	2
480 S State St	Condo	$375,000	3	2	1659	185
207 Oswego	Condo	$390,000	2	2	1497	17
3672 Spring Ln	Condo	$439,900	2	2	1117	20
15290 Quarry Rd	Detached	$475,000	3	1	990	94
5733 Kimball Ct	Detached	$659,000	4	2	1346	59
10 Sherwood Ct	Detached	$949,000	4	3.5	3289	2
3460 Lake Grove Ave	Detached	$1,498,000	3	2	1673	30
1101 Crestline Ct	Detached	$3,299,000	4	4.5+.5	7226	42

Sold/Closed Oct 16-22, 2023

Address	Type	List Price	Sold Price	Sq Feet	CDOM
4 Touchstone #65	Condo	$320,000	$310,000	1351	53
2818 Poplar Way	Detached	$550,000	$435,000	1056	34
5054 Foothills Dr A	Condo	$445,000	$445,000	1252	34
15370 Twin Fir Rd	Detached	$560,000	$560,000	1546	8
5053 W Sunset Dr	Attached	$595,000	$590,000	1720	29
545 Hemlock St	Detached	$669,900	$650,000	984	4
18351 Wood Thrush Way	Detached	$690,000	$690,000	1762	4
16 Walking Woods Dr	Detached	$779,000	$762,866	2897	109
1481 Greentree Cir	Detached	$875,000	$867,000	2704	80
11 El Greco St	Detached	$899,000	$892,000	2444	2
2834 Glenmorrie Dr	Detached	$895,000	$927,000	2459	3
885 Lake Forest Dr	Detached	$1,100,000	$937,000	2206	45
4353 Snowbrush Ct	Detached	$1,500,000	$1,375,000	3808	48
17173 Cedar Rd	Detached	$1,900,000	$1,725,000	3996	236

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.

October 22, 2023October 22, 2023

Portland Metro Neighborhood Stats + LO

Here is your monthly look at what’s happening in Portland metro and how it relates to Lake Oswego (broken out at the bottom)

Overview/Fluctuations ~ Sept 2023 Market Data:

Activity is down as you’d expect in Fall (New, Pending & Closed categories dropped), Inventory is up & prices are down. If you’re a Buyer this is your season! If you’re a Seller, pricing right will draw out the activity & potential multiple Offers putting you in a good position. The bulk of overall sales are narrowed between the $400,000 – $700,000 price range.

Rates: “Geopolitical events are tempering the pressure on rates. Currently rates are in your mid 7% range.” Gary Boyer, Regional VP, Directors Mortgage

According to the RMLS Market Action Report for the Portland Metro Area-September 2023:

There were 2,713 New Listings in Sept– which is down 13.9% from 3,151 in Sept 2022 and down 7.2% from the 2,923 in the previous month/August.
At 1,717 Sept 2023’s Closed Sales (Solds) are down 23.2% from Sept 2022’s 2,237, and decreased 20.3% from the previous month’s total of 2,155.
At 1,809 Sept 2023’s Pending Sales (Accepted Offers) are down 9.7% from Sept 2022’s 2,003, and also down 11.9% from the previous month/August’s total of 2,053.
The Average Sale Price for Sept 2023 of, $595,900 is down $2,800. from last year/Sept 2022’s $598,700, and down $12,400 from the previous month/August’s $608,300.
The “Median Sale Price (the price smack dab in the middle of all sales) in Sept 2023 of $537,400 dropped $10,600 from Sept 2022’s $548,000, & up just $500 from August’s $536,900.

LAKE OSWEGO: (Sept ’23)

279 Active Listings (Aug 290)
137 New Listings (Aug 151)
98 Pending Sales (Aug 93)
75 Closed Sales (Aug 111)
Average Sale Price for Sept: $1,076,600 (Aug $1,184,900)
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.
51 Days on the Market (Aug 44)

The data listed above is as reported by the Regional Multiple Listing Service (RMLS

October 15, 2023October 15, 2023

Return on Investment: Your Yard

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

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

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

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

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

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

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

Dianne

October 13, 2023October 13, 2023

Market Activity Oct 2-8, 2023

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

See below for RMLS data.

New on the Market Oct 2-8, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
45 Eagle Crest #220	Condo	$250,000	1	1	768
750 1st St E29	Condo	$350,000	1	1	986
16394 Lake Forest Blvd	Detached	$599,000	2	1.5	1112
17903 Ridge Lake Dr	Detached	$854,999	4	2.5	2540
1177 C Ave	Detached	$1,100,000	3	2	1957
1 Creekside Terr	Detached	$1,185,000	5	4	4230
14210 Amberwood Cir	Detached	$1,200,000	4	3	3391
4854 Upper Dr	Detached	$1,375,000	5	3	2879
13052 Knaus Rd	Detached	$1,690,000	4	3	3026
915 Cedar St	Detached	$1,695,000	4	3.5	3219

Pending Sales Oct 2-8, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
3433 McNary Pkwy #601	Condo	$325,000	2	2.5	1285	20
5225 Jean Rd #106	Condo	$400,000	3	2	1400	29
4093 Jefferson Pkwy	Condo	$419,000	2	2.5	1403	48
114 Greenridge Ct	Attached	$519,900	3	2	1824	74
668 McVey Ave #57	Condo	$549,000	3	1.5	992	39
2818 Poplar Way	Detached	$550,000	3	1	1056	34
15370 Twin Fir Rd	Detached	$560,000	3	2	1546	8
51 Oriole Ln	Detached	$589,000	3	2	1216	3
2834 Glenmorrie Dr	Detached	$895,000	2	3	2459	3
13851 Verte Ct	Detached	$939,000	4	3	2925	15
17144 Warren Ct	Detached	$999,000	4	2.5	2804	6
740 Pebble Beach Ct	Detached	$1,050,000	3	2	1745	6
14205 Edenberry Dr	Detached	$1,100,000	3	2.5	3219	16
1633 Maple St	Detached	$1,190,000	3	3	3448	122
503 Laurel St	Detached	$1,349,000	4	3.5	3169	115

Sold/Closed Oct 2-8, 2023

Address	Type	List Price	Closed Price	SQ Feet	CDOM
4323 Lakeview Blvd	Detached	$550,000	$561,000	1483	35
5051 W Sunset Dr	Attached	$620,000	$620,000	1734	12
4 Adams Ct	Detached	$699,900	$640,000	2287	50
17503 Schalit Way	Detached	$759,900	$755,150	1801	4
4840 Dogwood Dr	Detached	$1,125,000	$800,000	2716	95
1714 Greentree Rd	Detached	$920,000	$808,000	3110	190
14051 Chelsea Dr	Detached	$1,300,000	$1,350,000	3022	1
650 1st St	Condo	$1,595,000	$1,435,000	2767	101

October 8, 2023October 8, 2023

This Week in Lake Oswego

Here are my picks of what to do in Lake Oswego this week ~

Mon, Oct 9, 2023 – 4:00 PM – Planning Commission – Marylhurst Commons/Mercy Greenbrae Tour– The offsite meeting is for the purpose of learning more about this development in order to inform the City’s work to develop a Housing Production Strategy (HPS) in compliance with state House Bill 2003 (2019) (PP 22-0005) . Mercy Greenbrae Apartments: Greenbrae INFO HERE , INFO ON TOUR: CLICK HERE

Tues, Oct 10, 2023 – 1:00 PM – GRIEF RELIEF-Recover & Rebuild After Loss Series ~ Get help navigating through grief with tips, tools and discussion. This class is led by Georgena Grace, MA, RSCP, CRS who is a Trauma Specialist, Grief Guide, and the owner of the Integrated Wellbeing Institute. – ACC, 505 G Avenue Lake Oswego More Info: CLICK HERE

Wed, Oct 11, 2023 – 6:00 PM – Historic Resources Advisory Board ~ Review the Historic Preservation Grant from Lakewood Neighborhood, Revisions to the Historic Preservation Code, Parks Plan & More ~ Lake Oswego City Hall, 380 A Avenue ~ More Info : CLICK HERE

Thurs, Oct 12, 2023 – 6:00 PM – Teen Advisory Board! ~Be a part of planning programs including book groups, movie nights and more! ~ Lake Oswego Library, Lower Level, 706 Fourth St. – More Info: CLICK HERE

Fri, Oct 13, 2023 – 7:00-9:00 PM – Living Well Dance featuring the Millennium Dance Band ~ Come dance to big band music of the 30’s, 40’s & 50’s with an occasional ballroom favorite. (Under 14 requires adult accompaniment.) ~ CCP, 1060 Chandler Rd ~ More Info: CLICK HERE

Sat, Oct 14, 2023 – 10:00 AM-2:00 PM– Lake Oswego & West Linn Wellness Fair – All are welcome to this Free event dedicated to poviding a fun, educational day for people to learn more about health, wellness and sustainability opportunities throughout our surrounding communities. ~ Millennium Plaza Park, 200 1st Street ~ More Info : CLICK HERE

October 4, 2023October 4, 2023

Market Activity Sept 25-Oct 1, 2023

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

See below for RMLS data.

New on the Market Sept 25-Oct 1, 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet
207 Oswego Summit	Condo	$390,000	2	2	1497
3672 Spring Ln	Condo	$439,900	2	2	1117
668 McVey Ave #42	Condo	$499,900	2	1	852
15370 Twin Fir Rd	Detached	$560,000	3	2	1546
640 Southshore Blvd	Detached	$760,000	2	2.5	2391
17144 Warren Ct	Detached	$999,000	4	2.5	2804
740 Pebble Beach Ct	Detached	$1,050,000	3	2	1745
5330 Carman Grove Ln	Detached	$1,100,000	3	2.5	2493
16850 Cortez Ct	Detached	$1,900,000	4	4	3650
15112 Quarry Rd	Detached	$1,950,000	5	4.5	3953
13799 Atwater Ln	Detached	$3,995,000	3	4	4700

Pending Sales Sept 25-Oct 1 2023

Address	Type	Price	Bedrooms	Baths	Sq Feet	DOM
5054 Foothills Dr A	Condo	$445,000	2	2	1252	2
1720 Fernwood Dr	Detached	$579,000	3	2	1560	5
15930 Waluga Dr	Detached	$599,900	3	1.5	1040	10
18351 Wood Thrush Way	Detached	$690,000	3	2	1762	4
16266 Parker Rd	Detached	$765,000	4	2	2014	66
1481 Greentree Circle	Detached	$875,000	4	3	2704	19
10 Independence Ave	Detached	$1,150,000	4	3.5	4192	70
5955 Clairmont Ct	Detached	$1,250,000	5	3	3292	1
3894 Tamarack Ln	Detached	$1,499,000	4	3.5	4035	23
5220 Firwood Rd	Detached	$1,999,000	3	2.5	2507	5
611 Ridgeway Rd	Detached	$2,099,000	4	5.5	4847	44
4247 Lords Ln	Detached	$2,399,000	4	3.5	3840	102
956 Westpoint Rd	Detached	$8,950,000	4	4.5+.5+.5	5235	111

Sold/Closed Sept 25-Oct 1, 2023

Address	Type	List Price	Sold Price	Sq Feet	CDOM
16200 Pacific Hwy #29	Condo	$500,000	$500,000	1207	9
17825 Tualata Ave	Detached	$535,000	$540,000	1182	11
47 GreenridgeCt	Attached	$534,900	$550,000	1176	2
1368 Boca Ratan Dr	Attached	$610,000	$592,500	1683	109
89 Kingsgate Rd	Detached	$675,000	$640,000	1713	29
6062 Burma Rd	Detached	$650,000	$649,000	1875	96
16 Aquinas St	Detached	$699,000	$675,000	1720	27
529 Livingood Ln	Detached	$800,000	$800,000	2124	4
21 Aquinas St	Detached	$799,900	$930,000	2578	7
13880 Knaus Rd	Detached	$1,500,000	$1,375,000	3762	58
2600 Glenmorrie Dr	Detached	$2,298,000	$2,175,000	4232	13

September 26, 2023September 26, 2023

Featured Neighborhood: Rosewood

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

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

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

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

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

Dianne