3 bedrooms in First Addition Archives - Page 2 of 10

March 13, 2015

Home Warranties

Home warranties have become a common part of the majority of real estate transactions. It is basically an insurance policy that covers the home system components and some of the appliances. My most simple description is that if you think about items that have energy or movement in them, it is more likely to be part of the policy. Each policy is slightly different, so please consult the companies who offer them, but what is usually covered are furnace, water heater, plumbing and electric elements. What isn’t covered are stationary elements like the roof, the foundation, the walls.

When policies are purchased, they are good for one full year from the date of purchase and can then be annually renewed thereafter. I have twice had clients who received the policy when they purchased their home and then kept it the entire time they owned the house.

There are numerous companies who offer these policies. I am going to tell you about the three that I see most used in our area.

American Home Sheild is the big boy in this field. They were the first company I heard of and they do a big percentage of the plans that are sold. They have 3 plans: Esssential, Plus, and Complete. The numbers I am going to give you here are as of this day, and do not include quite a few options that could be added on. It is based upon a home that is single family, in Oregon, 10+ years of age (newer homes are slightly less expensive) and does not include air conditioning (which could be added on).

The Essential Plan does not cover any appliances. It does cover the furnace, water heater, plumbing and electric. It costs $380. The Plus plan covers the appliances, including the refrigerator and the washer and dryer, and it costs $510. The complete plan adds to the coverage things like the garage door opener, the door bell, and ceiling fans. It costs $565.

To use the policy you simply call an 800 number to make a claim. American Home Shield contracts locally and sends a technician to your home. There is a $75 charge for each service call.

It is possible to place the policy on the home at the time it is listed for sale. I highly recommend this. It is not paid for until the house is sold. If the house is never sold then there is no charge for the coverage unless the policy is used and that charge is just $60. So it is really affordable and the policy could potentially be used to deal with home inspection issues.

First American Home Buyer Protection Corporation is another well known company. They have two plans: Basic and Value+. Basic covers the home systems including the dishwasher and the range, but no refrigerator or washer/dryer. It costs $290. The Value+ plan adds air conditioning and it costs $420. Other items can be added to this plan, as it can be added to the other two, such as septic systems, swimming pools, the washer/dryer and the refrigerator. The service call to make a claim is $60. First American Home Buyer Protection also offers 180 days of coverage to the seller when the house is listed for sale at no charge, unless the policy is used and then the house is not sold, then there is a charge of $60.

Last I will mention Fidelity National Home Warranty They offer two plans: Standard and Comprehensive. The Standard plan does not include air conditioning and it costs $260. The Comprehensive plan does include the air conditioning and it costs $360. Both plans cover the dishwasher and the range, but neither cover the washer, dryer or refrigerator, which can be added on for an additional charge. The service call to make a claim is $65. Coverage for the seller at the time the house is listed for sale is available at no charge.

I think it’s pretty easy to see why purchasing one of these policies makes sense. For someone selling it may help cover repair issues and it certainly helps the buyer have a better comfort level with the home. For buyers, who usually spend most of their money on the down payment and the closing costs, it helps them to feel like they have a financial cushion for the first year that they will own the home.

Who pays for the policy? It’s negotiated between the buyer and the seller. I think it depends a lot on how long the house has been on the market without an offer, and also on how close to the asking price the buyer is offering.

I want to encourage you to do your research before you make or receive an offer. Figure out which plan you like and make sure it covers the elements that are of concern to you.

I am not an expert on these policies. I want to encourage you to contact these companies yourself to get exact information. Here is the contact info:

American Home Shield, 866-406-0440, www.ahs.com

First American Home Buyer Protection Corporation, 888-875-0533, www.homewarranty.firstam/Default.aspx

Fidelity National Home Warranty, 800-308-1420, www.homewarranty.com

Do not hesitate to get in touch with Linda, Whitney, or myself, if you have any questions about real estate!
Dianne

March 12, 2015

Market Activity March 2-8, 2015

This is our 1000th post! AMAZING! Back in the beginning, Linda and I had no idea how well this blog would work. At the time there were only about a dozen real estate blogs being done in the Portland Metro area and not a single one, that we could find, that focused exclusively on Lake Oswego real estate. It’s been a wonderful success. We have met many of our readers who have become clients or simply come to meet us at our open houses. We want to thank you for reading the propertyblotter and for sharing the Lake Oswego real estate adventure with us!

Now for last week’s market activity. Lake Oswego had 23 properties come up for sale, 24 go into contract/pending status, and 12 closed sales.

Below are the details according to the RMLS:

New on the Market (March 2-8, 2015)

Address	Type	Price	BR	Bths	SF
89 Galen St #89	Condo	$89,000	1	1	575
47 Eagle Crest Dr #41	Condo	$115,000	2	1	932
4 Touchstone #158	Condo	$140,000	2	2	984
44 Eagle Crest Dr #3	Condo	$149,900	3	2	1085
16805 Gassner Ln	Detached	$225,000	3	2	1092
900 Cornell St	Detached	$314,000	3	1.5	1300
12 Saint Helens Circle	Detached	$381,000	3	2	1790
1725 Fernwood Dr	Detached	$479,000	4	2.5	1580
1990 Greentree Rd	Detached	$479,900	4	3	2100
11 Juarez St	Detached	$550,000	4	2.5	2600
1272 Zivney	Detached	$679,900	4	3	2658
5124 Woodcrest Ln	Detached	$719,900	5	2.5	2923
15947 Waluga Dr	Detached	$725,000	4	2.5	3370
12615 SW 21st Ct	Detached	$739,000	4	3.5	4594
504 10th St	Detached	$750,000	3	2	2277
17583 Shepherds Ct	Detached	$774,900	4	3	2997
17572 Shepherds Ct	Detached	$779,900	4	3	2983
100 Leonard St	Condo	$799,900	3	2.5	2734
17656 Woodhurst Pl	Detached	$825,000	4	2.5	4597
15195 Lily Bay Ct	Detached	$898,000	4	2.5	4099
13624 Goodall Rd	Detached	$1,539,000	4	4.5+.5	4411
4077 Westbay Rd	Detached	$1,749,000	4	4	3644
778 Cabana Ln	Detached	$1.995,000	3	3	3343

Pending Sales (March 2-8, 2015)

Address	Type	Price	BR	Baths	SF	DOM
56 Galen St	Condo	$142,500	2	2	1000	10
5225 Jean Rd #311	Condo	$170,000	2	2	1100	35
3433 McNary Pkwy #506	Condo	$175,000	2	2.5	1136	3
4524 Lower Dr #A3	Condo	$279,000	3	2.5	1650	147
668 McVeyAve #33	Condo	$284,900	2	1	852	2
3101 Wembley Park Rd	Detached	$319,000	2	1	858	3
4670 Lower Dr	Detached	$374,900	3	2.5	1587	154
44 Oriole Ln	Detached	$389,000	4	2.5	2156	6
9 Touchstone	Detached	$397,000	3	2	1890	4
13855 Verte Ct	Detached	$449,000	3	2.5	1835	12
48 Spinosa	Detached	$462,500	3	2.5	2848	47
1448 Cedar St	Detached	$468,000	4	3	2544	532
18768 Wood Duck St	Detached	$499,900	3	3	2940	346
1710 Glenmorrie Terrace	Detached	$499,900	3	3	2865	135
34 Del Prado St	Detached	$539,950	4	3	3120	101
13819 Provincal Hill Dr	Detached	$549,900	4	2.5	2096	8
17749 Leafy Ln	Detached	$585,000	4	3	3300	25
8 Del Prado St	Detached	$599,900	5	3	3548	59
18125 Westminster Dr	Detached	$749,000	4	3.5	3866	4
15203 Lily Bay Ct	Detached	$779,000	4	2.5	3219	34
1785 Palisades Terrace Dr	Detached	$799,000	4	4.5	5052	216
14488 Pfeifer Dr	Detached	$825,000	4	3.5	3563	31
1267 Maple St	Detached	$879,000	4	2.5	3388	140
290 Iron Mountain Blvd	Detached	$2,095,000	5	5	4733	1

Sold/Closed (March 2-8, 2015)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
45 Eagle Crest #308	Condo	$169,900	$165,000	1046	24
1460 Greentree Circle	Detached	$399,900	$390,000	1791	3
1401 Greentree Circle	Detached	$449,000	$425,395	1800	165
808 Ellis Ave	Detached	$514,900	$510,900	2,108	28
15885 White Oaks Dr	Detached	$625,000	$624,000	2802	55
67 Nansen Summit	Detached	$749,000	$714,000	4992	507
17838 Marylcreek Dr	Detached	$750,000	$725,000	4317	35
17171 Lowenberg Terr	Detached	$739,000	$735,000	3002	118
2065 Ridge Pointe Dr	Detached	$849,900	$825,000	4790	246
245 Chandler Pl	Detached	$900,000	$900,000	3733	0
1057 Bullock St	Detached	$945,000	$915,000	4700	185
556 7th St	Detached	$1,075,000	$1,075,000	3911	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.

February 20, 2015

Tennis Opportunities

I think there are quite a number of things that add to quality of life, and staying active and fit is one of them. For some that may involve aerobics, weights, walking, running, swimming, any number of activities. The greater your options, the greater the odds are that you’ll stay active, and tennis is a great option.

The City of Lake Oswego offers indoor and outdoor tennis options.

Outdoor tennis is found in 7 locations, 2 of which have lighting for evening use. These courts are first-come, first-serve with the exception of the courts that are located on school property. Use at those locations is affected by school use as well. But they are pretty simple to use and easy to find. For a list of locations, click here.

The indoor courts can be found at the Tennis Center at 2900 Diane Drive in Springbrook Park. Open daily from 6:00am to 9:00pm, courts are available on an hourly basis for $18 per hour. Reservations can be made up to a week in advance. For convenience you can buy lump sum packages (still at $18 an hour). In July there is a lottery for up to 4.5 months of advance reservations in September to May.

The indoor facility has four courts. There are a wide variety of activities for all ages, and all abilities: general use, lessons, competitions, youth tennis, it’s very impressive.

Of special note, the Lake Oswego Tennis Center, with sponsorship from the Greater Portland Tennis Council, provides the only Special Olympics tennis program in the State of Oregon.

Also, be aware for about 2 weeks each summer the facility is closed for maintenance. Last year the 2 weeks were in August.

I hope you find this helpful. Enjoy!
Dianne

February 18, 2015

Market Activity Feb 9-15, 2015

Ok, I am going to just say it, I LOVE living in the Pacific Northwest. This past week it has been 60 degrees and sunny. We have a chance of sprinkles the next couple of days, and then…more sun! That’s pretty perfect for this time of year.

Last week in LO we had 8 new listings, 27 pending sales, and 7 closed sales. My prediction is that in the next few weeks the number of new listings will at least double and, even more likely, triple. If they don’t? We are going to see prices go up. Low supply drives up prices. We shall see….

Following is the breakdown for you according to RMLS:

New on Market (Feb 0-15, 2015)

Address	Type	Price	BR	Bths	SF
192 Oswego Summit	Condo	$144,850	2	2	1383
3433 McNary Pkwy #208	Condo	$150,000	2	2	1008
4171 Old Gate Rd	Detached	$350,000	4	2	1752
2508 Orchard Hill Place	Detached	$454,000	3	2.5	2230
2084 Ridgewood Rd	Detached	$799,000	3	2.5	2117
77 Garibaldi St	Detached	$829,000	4	2.5	3515
2726 Rivendell Rd	Detached	$849,000	5	3	3315
13554 Peters Rd	Detached	$899,850	3	3	3036

Pending Sales (Feb 9-15, 2015)

Address	Type	Price	BR	Baths	SF	DOM
3930 Lake Grove Ave A1	Condo	$130,000	2	1	952	111
116 Oswego Summit	Condo	$139,000	2	2	1140	323
4 Touchstone #136	Condo	$178,500	3	2.5	1351	5
5061 Foothills Dr A	Condo	$199,950	2	2	991	6
5063 Foothills Dr A	Condo	$200,000	2	2	991	3
1349 Bonniebrae Dr	Attached	$319,000	3	1.5	1303	118
4524 Lower Dr #A3	Condo	$279,000	3	2.5	1650	130
1260 Hallinan St	Detached	$298,000	3	1.5	1325	4
6138 Kenny St	Detached	$314,000	3	1.5	1190	31
4841 Dawn Ave	Detached	$349,000	3	2	1550	64
4146 Lakeview Blvd	Detached	$400,000	5	1.5	2056	99
324 4th St	Attached	$425,000	2	2.5	1731	30
18975 Indian Springs Rd	Detached	$437,900	4	2.5	1910	6
127 Del Prado St	Detached	$459,000	4	3	2310	5
886 9th St	Detached	$469,500	2	1	860	23
18929 Terry Ave	Detached	$494,900	4	2	2441	20
37 Berwick Rd	Detached	$495,000	5	2	2198	36
6 Northview Ct	Attached	$532,500	4	3.5	3200	14
1011 Spruce St	Detached	$565,000	3	2.5	1930	29
14128 Edenberry Dr	Detached	$749,900	4	2.5	3168	10
19242 Indian Springs Rd	Detached	$749,900	4	2.5	3365	35
5488 Southwood Dr	Detached	$775,000	4	2.5	3280	112
2950 Upper Dr	Detached	$795,000	4	3.5	3373	64
2109 Wembley Park Rd	Detached	$795,000	5	3	3154	73
1233 Bickner St	Detached	$800,000	4	3.5	3150	0
1267 Cherry Ln	Detached	$849,000	4	2	3311	308
18360 River Edge Ln	Detached	$957,000	4	2.5	3738	22

Sold/Closed (Feb 9-15, 2015)
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Address	Type	List Price	Closed Price	Sq Ft	CDOM
59 Galen St	Condo	$94,900	$94,000	550	22
16250 Pacific Hwy	Condo	$204,500	$190,000	1305	167
18495 Tamaway Dr	Detached	$548,000	$548,000	2680	11
909 Lake Front Rd	Detached	$699,900	$555,000	2,916	480
435 7th St	Detached	$649,000	$620,000	2010	175
13983 Westcott Ct	Detached	$649,000	$637,500	2792	71
17237 Kelok Rd	Detached	$1,090,000	$1,080,000	2206	23

January 28, 2015

Historic Homes

107 Burnham Rd, The Tug Master's House, circa 1905 — 107 Burnham Rd, The Tug Master’s House, circa 1905

I think we have all heard of the National Register of Historic Places and have a vague idea that it means you get tax breaks and have to let the public in your house occasionally. At least that is a notion I have had for some time. That is until recently.

Lake Oswego has many historic properties. Touring a home that is currently for sale, a 1920’s church that has been converted to a home, the subject came up and I got curious for details. What I learned is quite different from what my perception had been.

First of all, the requirement to allow the public into your home is long gone. It simply isn’t safe to allow strangers into your home. Second, there are not a lot of tax benefits to the designation. If you own or are buying a home with historic designation it really is about the love of the property and the desire to preserve it.

There are several designations.

1125 Maple St, The Black House, circa 1933

The most famous is run by the United States Park Service and is the National Register of Historic Places. To have this designation the property us usually at least 50 years old. It is also either architecturally significant or has been the home of a famous individual or was the location of a famous event. This is by far the most prestigious designation. Lake Oswego has 17 properties that are on the National Register, 13 of which are houses. To find a list of these properties, click here. At the National level there are no tax benefits for these historic properties. At the state level, there are.

The State of Oregon runs its own historic registry that is pretty much all of the Oregon properties that are on the National Historic Registry. The state does offer a tax incentive, but it is tied into the preservation of the property. Essentially you have to propose and get approved a plan that would take 10% of the current market value of the property and apply that same amount of money over the course of 10 years to do substantial rehabilitation projects on the property. Preference is given to projects that improve and maintain the exterior. When finished, you must place an approved plaque on the exterior. In return for doing this, your property taxes are frozen for the same 10 years. For more information about this program, click here.

The last historic designation is local. Lake Oswego has its own historic designation list. There are currently 72 properties on this list. The owners of these properties must retain the character of the exterior, but they can remodel the interior. Any exterior alterations must be consistent with the buildings historic character, and any changes made are subject to review and approval of the Development Review Commission. The City has also, in the past, made available grants of up to $2000 for restoration and preservation of these properties. For the list of Lake Oswego properties, click here.

16906 Cherry Crest Dr, The Laidlaw House, circa 1930

I personally really love old homes. My current home was built in 1923 and is likely the original farm house in my Lake Grove neighborhood. I also appreciate when old homes are preserved and neighborhood character is retained. First Addition is a superb example of this. Don’t get me wrong, I love new houses too. For spacious floor plans and large closets, that is the better option. Perhaps the perfect house is a new one that is built in the old style. There are quite of those in Lake Oswego as well.

The bottom line is that I really value and appreciate the efforts at all levels, local to National, that encourages the preservation of historic properties. Perhaps you do as well.

Dianne

January 27, 2015

Market Activity Jan 19-25, 2015

Here is your Latest Market Data: Last week in Lake Oswego we saw 12 New properties enter the market, 20 move to Pending status, and 6 “Closed”/Sold!

Following is the breakdown for you according to RMLS:

New on the Market (Jan 19-25, 2015)

Address	Type	Price	BR	Bths	SF
48 Eagle Crest Dr	Condo	$184,900	3	2	1623
43 Condolea Ct	Condo	$365,000	2	2.5	2157
13901 Sundeleaf Dr	Detached	$399,000	4	3	1900
14201 Dolph Ct	Detached	$449,000	3	2	1864
886 9th St	Detached	$469,500	2	1	860
18929 Terry Ave	Detached	$499,900	4	2	2441
4959 Bilford Ln	Detached	$549,900	3	2.5	2456
1625 Bedford Ct	Detached	$595,000	2	2.5	2462
5868 Suncreek Dr	Detached	$795,000	4	2.5	3164
18360 River Edge Ln	Detached	$957,000	4	2.5	3738
17320 Lake Haven Dr	Detached	$1,235,000	4	3	2703
17388 Cedar Rd	Detached	$2,395,000	4	3.5	4276

Pending Sales (Jan 19-25, 2015)

Address	Type	Price	BR	Baths	SF	DOM
15 Oswego Summit	Condo	$106,000	2	2	1212	282
48 Eagle Crest Dr 1C	Condo	$123,500	2	2	1370	149
3930 Lake Grove Ave A1	Condo	$130,000	2	1	952	92
15868 Parker Rd	Detached	$219,950	2	1	780	5
48 Eagle Crest Dr 1A	Condo	$250,000	3	2.5+.5	1550	6
5695 Washington Ct	Detached	$349,900	3	2	1769	9
17251 Greentree Ave	Detached	$414,950	4	2.5	2728	45
143 Kingsgate Rd	Detached	$450,000	3	2	2618	131
4733 Firwood Rd	Detached	$474,900	4	3	2310	152
14372 Camden Ln	Detached	$519,900	3	2.5	2348	52
18495 Tamaway Dr	Detached	$548,000	4	2.5	2680	11
1585 Patton Rd	Detached	$550,000	4	3	3162	257
18910 Terry Ave	Detached	$590,000	4	4.5	4290	16
4261 Cobb Way	Detached	$595,000	3	3	2345	10
2762 Vale Ct	Detached	$630,000	4	3	2709	7
435 7th St	Detached	$639,000	2	2	2010	175
3877 Tempest Dr	Detached	$690,000	4	2.5	3237	4
1287 Bickner St	Detached	$699,500	4	3.5	2665	103
17694 Marylbrook Dr	Detached	$719,000	3	2	2758	2
1766 Palisades Terrace Drd	Detached	$750,000	4	2.5	2792	190

Sold/Closed (Jan 19-25, 2015)

Address	Type	List Price	Closed Price	Sq Ft	CDOM
5048 Tree St	Detached	$310,000	$305,000	1232	21
5275 Oakridge Rd	Detached	$349,900	$350,000	1267	22
4631 Wildwood St	Detached	$399,900	$355,635	1650	120
2131 Wembley Park Rd	Detached	$579,000	$555,000	3,905	24
820 Fairway Rd	Detached	$1,189,000	$1,100,000	3758	331
17129 Kelok Rd	Detached	$1,299,000	$1,299,000	2894	86

January 3, 2015

10 Very LO Things to do in 2015

New Year, new beginnings, time to make some plans for 2015. Here are my suggestions for some distinctly LO events to fit into your plans for the coming year:

1. Try an established or new restaurant. There are soooooo many to choose from. Gubanc’s for lunch (homemade soup), Riccardo’s for a summer evening on the patio, LaVang for unbeatable Pho, St Honore or Babica Hen for breakfast, Happy Hour at Five Spice, the list goes on and on. I recently tried Aji Tram, the fresh Asian fusion place on the corner of Bryant and Lakeview. It was fantastic! A bit loud with sports on big-screen TVs, but it was fun! Food was great and our little gathering really enjoyed ourselves.

2. Festival of the Arts in June. This is a a must do. Both the juried fine art show and the craft fair are a pleasure. I enjoy the art and like to hunt for a special find whether it is a gift for a friend or something special for myself.

Guardian of the Lake 2014 People's Choice Winner — Guardian of the Lake
2014 People’s Choice Winner

3. A walking tour of Gallery Without Walls. The exhibition changes every year. It is always exciting when the new exhibits are unveiled.

4. A walk or bike ride around the lake. OK, do this more than once. Do it lots! Views of the lake and magnificent homes make the time fly and the workout is awesome!

5. Attend a 4th of July parade and then fireworks over the lake.

6. Attend the Lake Oswego Heritage Council Home Tour. This is a major fund raiser for the Heritage Council and also an opportunity to get into private homes that are AMAZING.

7. Volunteer to pull ivy at one of the City Parks or Nature areas.

8. Volunteer to help in one of the schools.

9. Attend one of the City’s outdoor summer concerts.

10. Attend the annual lighting of the City Christmas Tree on the day after Thanksgiving!

There is so much more to do that just simply isn’t on this list. The point is that there is lots to do. I know I have had years where I do more or less than other years, but I also think that when I look back on years that I have really enjoyed, they have been years when I have gotten out and really involved in what is going on in Lake Oswego.

We here at the blotter want to wish you a very happy 2015! May you experience good health, prosperity, and many happy LO memories!

And for those of you who would like to challenge your knowledge of LO, here is a quiz courtesy of Pamplin Media: http://www.pamplinmedia.com/lor/48-news/245367-112146-so-you-think-you-know-lake-oswego

Happy New Year,
Dianne

December 30, 2014

Market Activity Dec 22-28, 2014

You’d think the real estate market would have been slow and quiet last week due to the holidays, but nope, it was rather busy. Just 4 houses came onto the market, but 16 went pending (yep, people out looking at houses and not rushing home to carve the turkey), and 10 houses became closed sales.

I don’t recall a Christmas with this many pending sales. I too had an active buyer last week. With inventory a bit down right now, there are just not a lot of houses to choose from. We encountered 3 different houses they were interested in last week and all 3 had multiple offers. We were able to put a deal together on the one that was their top choice, but it really surprised me that the week of Christmas was that competitive. It makes me feel that perhaps our spring market will start early.

New Listings December 22-28, 2014

4765 Firwood Rd, Detached, 3 BR, 2 Baths, 1728SF, $325,000

14 Hotspur, Detached, 4 BR, 2.5 Baths, 2726SF, $599,900

17838 Marylcreek Dr, Detached, 4 BR, 3.5 Baths, 4317SF, $750,000

159 5th ST, Detached, 4 BR, 3 Baths, 2970SF, $895,000

Pending Sales December 22-28, 2014

43 Crestfield Ct, Condo, 2 BR, 1 Bath, 923SF, $101,000, 64 DOM

3930 Lake Grove Ave, Detached, 2 BR, 1 Bath, 952SF, $139,900, 36 DOM

40 Oswego Summit, Condo, 2 BR, 2 Baths, 1140SF, $151,900, 224 DOM

76 Galen Rd, Condo, 2 BR, 2 Baths, 989SF, $166,900, 46 DOM

9765 Firwood Rd, Detached, 3 BR, 2 Baths, 1728SF, $325,000, 3 DOM

5275 Oakridge Rd, Detached, 3 BR, 1 Bath, 1267SF, $349,900, 22 DOM

1075 Oak Terrace, Detached, 3 BR, 2 Baths, 1356SF, $349,900, 29 DOM

4631 Wildwood St, Detached, 3 BR, 2 Baths, 1650SF, $374,900, 120 DOM

5907 Fernbrook Circle, Detached, 5 BR, 2 Baths, 1892SF, $399,900, 175 DOM

4940 Centerwood St, Detached, 4 BR, 2.5 Baths, 2093SF, $425,000, 3 DOM

533 2nd St, Condo, 2 BR, 2 Baths, 1274SF, $465,000, 46 DOM

2751 Summit Dr, Detached, 3 BR, 2 Baths, 2418SF, $658,950, 145 DOM

27 Berwick Rd, Detached, 5 BR, 3 Baths, 2968SF, $715,000, 2 DOM

18177 Delenka Ln, Detached, 5 BR, 2.5+.5 Baths, 3802SF, $830,000, 131 DOM

1267 Cherry Ln, Detached, 4 BR, 2 Baths, 3311SF, $849,000, 259 DOM

179 Furnace St, Condo, 3 BR, 3.5 Baths, 4784SF, $1,698,000, 47 DOM

Closed Sales December 22-28, 2014

4610 Lower Dr, Condo, List $114,900, Closed $114,900, 1260SF, 46 DOM

129 Kingsgate Rd, Detached, List $300,000, Closed $300,000, 1604SF, 381 DOM

1437 Oak St, Detached, List $349,000, Closed $358,000, 1070SF, 4 DOM

1405 Cedar St, Detached, List $375,000, Closed $395,000, 2570SF, 3 DOM

1318 Laurel St, Detached, List $439,900, Closed $440,000, 1649SF, 2 DOM

1045 Bullock St, Detached, List $568,000, Closed $559,000, 2105SF, 11 DOM

5726 Charles Circle, Detached, List $718,000, Closed $692,500, 3173SF, 104 DOM

1525 Maple St, Detached, List $899,000, Closed $780,000, 2815SF, 153 DOM

3600 Southshore Blvd, Detached, List $849,900, Closed $785,000, 2117SF, 83 DOM

3140 Childs Rd, Detached, List $1,950,000, Closed $1,695,000, 298 DOM

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.

Posted on December 9, 2014
Market Activity Dec 1-7, 2014

As much as there is a myth that houses don’t sell during the holidays, last week’s market activity shows that it is, in fact, a myth. In Lake Oswego there were 12 new listings, 9 homes that became pending sales, and 16 homes that became closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (Dec 1-7, 2014)

Address Type Price BR Bths SF

86 Kingsgate Rd H102 Condo $136,900 2 2 849

4000 Carman Dr #23 Condo $156,500 2 2 866

210 State St Condo $175,000 2 1 1284

4089 Jefferson Pkwy Condo $199,950 2 2.5 1361

852 5th St Detached $379,000 2 1 738

6 Gershwin Ct Detached $379,000 5 3 2416

4504 Wildwood St Detached $399,000 3 2 1655

17251 Greentree Ave Detached $414,950 4 2.5 2728

13721 Regency Ct Detached $509,500 3 2.5 2311

14372 Camden Ln Detached $519,900 3 2.5 2348

2286 Wembley Park Rd Detached $774,999 3 3 2000

3100 Westview Ct Detached $929,000 4 3.5 3750

18024 Eastridge Ln Detached $1,498,800 4 3.5 4526

Pending Sales (Dec 1-7, 2014)

Address Type Price BR Baths SF DOM

18 Oswego Summit Condo $54,900 1 1 764 176

15938 Quarry Rd 1A Condo $149,000 2 1 991 8

6360 McEwan Detached $319,888 3 1.5 1450 53

5344 Tualata Ct Detached $339,827 3 2 1283 45

16987 Alder Circle Detached $395,950 3 2 1713 4

1868 Kilkenny Dr Detached $535,000 3 2.5 2300 83

754 5th St Detached $755,000 3 3 2179 91

18224 Bella Terra Dr Detached $1,195,000 4 3.5 4050 146

1968 Cheryl Ct Detached $1,495,000 4 4.5+.5+.5 6153 11

Sold/Closed (Dec 1-7, 2014)

Address Type List Price Closed Price Sq Ft CDOM

4 Touchstone #76 Condo $124,000 $119,000 984 43

98 Oswego Summit Condo $146,000 $136,000 1140 152

4470 Chapman Way Detached $360,000 $347,500 2125 174

528 2nd St Attached $439,500 $428,000 1,703 16

377 Livingood Ln Detached $400,000 $429,000 2409 3

5978 Fernbrook Circle Detached $449,900 $442,000 1612 12

1765 Conifer Dr Detached $475,000 $448,000 2330 127

201 Ridgeway Rd Detached $589,000 $589,000 2327 86

17601 Woodhurst Pl Detached $675,000 $650,000 3179 80

3075 Tolkien Ln Detached $649,000 $660,000 2667 9

4090 Westbay Rd Detached $749,900 $719,000 2078 59

14144 Goodall Rd Detached $849,000 $765,000 3499 298

15444 Boones Way Attached $850,000 $820,000 3464 4

841 Northshore Rd Detached $949,850 $865,000 2388 140

925 Iron Mountain Blvd Detached $1,119,000 $1,020,000 3555 119

907 Terrace Dr Detached $1,795,000 $1,900,000 6919 572

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.

Posted on November 21, 2014
2015 Economic Forecast

While 2014 may be winding down, 2015 is just around the corner. I tend to think of this time of year as a time to regroup. Business is slower. It gives me a chance to catch my breath, but also to gear up. January 1, I want to hit the ground running. With that in mind, I try to take advantage of First American Title’s annual economic forecast. This event happened this morning and I thought I share some of what I learned.

The expert who gives this presentation is John Mitchell, Chief Economist for M&H Economic Consultants. He does a great job of taking a dry subject that is filled with numbers and charts, and making it entertaining and engaging. I am going to share with you a few highlights.

For the most part the outlook is good. While economic growth has been slow, it has also been steady. For the past few years there have been fits and starts with the economy. Mr. Mitchell likened it to Bill Murray and Groundhog Day. We’ve seen it before and we will see it again. The economy is chugging along. It’s not explosive, but it is more steady than not.

Some positive news:
Consumers who have delayed major life decisions (getting married, having a child, buying a bigger house) are gaining confidence and starting to make those big moves. This is a stimulus for the housing market.

The US Economy is the envy of the world. Financial and personal security are threatened in many parts of the world (Asia and Europe continue to lag in economic recovery, then there are the world events in Russia and the Middle East). This has countries and individuals looking to put their assets where they feel they will be secure, and that place is the United States. Mr. Mitchell gave credit to this influx of foreign money for the unexpectedly low interest rates of 2014.

The housing market is rebounding with both existing family home and new construction selling at greater rates than they have in years.

Oregon was #6 in the Nation for job growth in 2014.

Nationally, mortgage delinquencies are the lowest they have been since 2000.

Some concerns:
We are entering a whole new world that has no historic precedent. The stimulus package is pretty much over. The Federal Reserve is no longer buying mortgage backed securities. The economy is going to have to hold up the anticipated growth on its own. Having said that, the Fed is prepared to jump back in and re-engage if needed. This shows how fragile this recovery is. There is a lot of uncertainty.

The world situation has a lot of areas of concern. Ebola and ISIS were not on our radar a year ago. A major event can derail our economy. These events are not just difficult to hear about because of their horror, they also have an impact on our economy through things like consumer confidence and political turmoil.

Slowly gathering strength
On the whole, our economy is slowly gathering strength. As the job market grows and people feel more financially stable, they start to make decisions to improve their lives. Buying a new home is a big part of that picture.

Mr. Mitchell did advise that interest rates are likely to go up in 2015, but it will be fact driven. If the economy is not rebounding, they will stay low. If the economic rebound gets stronger, they will go up. Odd to think that rising interest rates are triggered by good news, but they are.

My personal thought on all of this is that our government and the Fed need our housing market to continue to rebound. It is vital to our National economic health. I have confidence that the housing market will stay on track with slow and steady growth.

As always, thanks for reading The Blotter,
Dianne

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