Tag: 3 bedrooms in First Addition

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Market Activity Aug 19-25, 2013

Here is last week’s real estate activity for Lake Oswego:
20 newly listed properties
17 properties with offers accepted
12 properties that closed and are officially sold.

I would also like to pay tribute to Martin Luther King, a great man who 50 years ago showed us the meaning of freedom. He was a truly great American.

Martin Luther King August 28, 1963
Martin Luther King
August 28, 1963

Here is the breakdown of activity according to RMLS:

NEW SALES (Aug 19-25, 2013):

Address Type Price BR Bths SF
5051 Foothills Dr E Condo $189,900 2 2 991
200 Burnham Rd #406 Condo $199,999 2 1 1199
4221 Cobb Way Detached $299,900 3 2 1724
16200 Pacific Hwy #10 Condo $310,000 2 2 1190
4185 Childs Rd Detached $319,900 3 1.5 1175
4 Wheatherstone #2 Condo $326,900 3 2.5 1692
4990 Oakridge Rd Detached $329,000 3 2 1700
17833 Central Ave Detached $339,000 3 2 1533
1602 Greentree Rd Detached $412,500 3 2 1708
17140 Wall St Detached $455,000 4 3 3711
6187 Frost Ln Detached $459,000 4 2.5 2149
915 Bullock St Detached $475,000 4 3 2986
895 York Rd Detached $479,000 3 2 1924
13930 Majestic Ct Detached $495,000 3 2.5 2956
429 10th St Detached $495,000 4 3 2280
1500 Eastview Ct Detached $649,000 4 3.5 3946
1805 Glenmorrie Terrace Detached $798,000 3 2.5 2640
18499 Old River Dr Detached $819,000 4 3.5 4020
18025 Skyland Circle Detached $1,199,000 4 4.5+.5 5379
1032 Westward Ho Rd Detached $1,999,000 4 3.5 3404

PENDING SALES (Aug 19-25, 2013)

Address Type Price BR Baths SF DOM
45 Eagle Crest Dr #204 Condo $104,900 1 1 768 2
3978 Carman Dr Attached $169,900 2 2.5 1098 3
3864 Botticelli St Condo $174,950 2 1.5 1132 4
1280 Oak Terrace Detached $274,900 3 2 1990 43
3616 Lake Grove Ave Detached $319,000 3 2 1150 0
5195 Firwood Rd Detached $359,000 3 3 1926 80
85 Laurel St Detached $360,000 4 3 2820 102
16 Aquinas St Detached $400,000 3 2.5 1658 1
720 Pebble Beach Ct Detached $405,000 4 2.5 1957 2
908 Cumberland Pl Detached $439,500 4 3 2715 73
5272 Tualata Ln Detached $500,000 4 3 2529 67
14101 Redwood Ct Detached $605,000 3 3.5 2629 8
13432 Rogers Rd Detached $675,000 3 2.5 3454 28
2833 Rivendell Rd Detached $698,000 4 2.5 2932 72
5623 Grand Oaks Dr Detached $699,000 4 2.5 3323 15
17160 Kelok Rd Detached $699,000 4 4 4650 10
12210 Orchard Hill Rd Detached $1,495,000 4 3.5+.5 4640 67

SOLD (Aug 19-25, 2013)

Address Type List Price Closed Price Sq Ft CDOM
18545 Kristi Way Detached $279,000 $265,000 1307 2
1129 Cherry Ln Detached $379,900 $320,000 2421 91
31 Oriole Ln Detached $375,000 $355,000 1968 38
16200 Terrace Dr Detached $400,000 $430,000 2,085 2
980 Cumberland Place Detached $475,000 $475,000 2791 7
5482 Bay Creek Dr Detached $564,900 $552,878 2554 5
4860 Hastings Dr Detached $645,000 $630,000 2942 21
17692 Woodhurst Pl Detached $789,000 $748,290 3890 24
14100 Taylors Crest Ln Detached $850,000 $820,000 4087 43
3720 Marquis Ct Detached $885,000 $835,000 4795 122
481 9th St Detached $879,000 $879,000 2813 3
17809 Kelok Rd Detached $1,249,000 $1,268,000 3700 22

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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Open Houses 8/25/2013

Getting a head start on planning for the weekend, here are 18 homes that will be held open this Sunday:

Address Price Type Bedroom Bath Open
18717 Pilkington Rd $240,000 Detached 3 1.5 2 to 5
17833 Central Ave $339,000 Detached 3 2 1 to 3
837 Country Club Rd $375,000 Detached 4 3 2 to 4
4200 Westbay Rd $379,900 Detached 2 1 1 to 4
1250 Hemlock St $399,950 Detached 3 2 1 to 4
1602 Greentree Rd $412,500 Detached 3 2 1 to 4
87 Ash St $429,900 Detached 3 2 1 to 3
1501 Koawood Dr $465,000 Detached 4 3 2 to 4
895 York Rd $479,000 Detached 3 2 1 to 3
6 Scarborough Dr $520,500 Detached 5 3 1 to 4
4850 Lower Dr $624,900 Detached 4 3 2 to 4
4836 Hastings Dr $630,000 Detached 4 2.5 1 to 3
18064 Jenifers Way $667,950 Detached 5 3 1 to 3
18024 Skyland Circle $969,000 Detached 3 3.5+.5 1 to 4
735 7th ST $969,000 Detached 3 3.5 1 to 4
17600 Upper Cherry Ln $1,049,000 Detached 4 3.5 1 to 4
13310 Atwater Ln $1,295,000 Detached 5 4 1 to 3
112 Northshore Circle $1,550,000 Detached 3 3.5 11 to 4

Enjoy!

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Featured Neighborhood: Holly Orchard

Lake Oswego has 25 specific neighborhoods, each with its own neighborhood association. The City encouraged this organization to allow specific areas of town to have effective communication for decision making and planning. Today I want to feature Holly Orchard.

Blog 002Holly Orchard is conveniently located. People who live in this area have quick access to I-5, Hwy 217, Boones Ferry Rd, and Country Club Rd. Costco and Winco are about 5 minutes away. Yet, it’s a quiet area. The boundaries are Carmen Dr on the South, Botticelli on the North, Fosberg Rd on the West, and Hotspur on the East. This neighborhood is small in comparison to others in Lake Oswego. The by-laws of Holly Orchard were adopted in 1988.

Some Highlights
Carmen HouseThe first house I ever listed and sold when I got my real estate license in 1987 was in Holly Orchard, so the neighborhood holds a special place in my heart.

The oldest house in Lake Oswego is in Holly Orchard. The Waters Carmen house was built in 1855 and is still owned by his descendants.

One of Lake Oswego’s few gated communities is in Holly Orchard, Taylors Crest. Not only does this development have gorgeous, luxury homes, but its a lively community with a swimming pool.

Holly Orchard hosted one of the Portland area’s first street of dreams in 1980.

Real Estate in Holly Orchard
Blog 001Being a small neighborhood, there are not many homes for sale at any given time. Currently on the market there is one condo, one townhouse, and 3 detached, single-family homes. The values range from the 3 bedroom, 3.5 bath condo that is listed for $235,000, to the luxury, 1980 Street of Dreams house that is listed for $749,900. Along with the 5 active listings, there are 4 houses in pending status with accepted offers that have not yet closed, and 24 homes that have sold in the last 12 months.

photoStreet of Dreams then and now
Sundew was home to the Steet of Dreams in 1980 and 4394 Sundew Ct is currently for sale. Listed with Rebecca Walter of Redfin (rebecca.walter@redfin.com, 503-255-2431), this house was a showcase for luxury and the latest in design ideas of its day. It has 4881 square feet that includes 4 bedrooms and 2.5 baths. The floorplan is centered around a central atrium that floods the house with natural light. Priced at $749,900, the house will be held open this Saturday, August 24th, from 1 to 4. For specifics about this property, click here.

So why would someone want to consider living in Holly Orchard? Because it is in a superb location for convenience, yet it’s quiet. The house options include affordable condos and townhouses, but also include a luxury, gated community, as well as the exceptional designs of Street of Dreams living.

For more information, please do not hesitate to contact me.
Dianne

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Market Activity Aug 5-11, 2013

Last week in Lake Oswego there were 24 new listings, 18 homes that went into pending status, and 13 closed sales.

Here is the breakdown of activity according to RMLS:

NEW SALES (Aug 5-11, 2013):

Address Type Price BR Bths SF
44 Eagle Crest Dr #1 Condo $128,000 2 1 908
3433 McNary Pkwy #504 Condo $174,700 2 2.5 1136
26 Condolea Dr Condo $225,000 2 2 1420
1784 Bonniebrae Dr Condo $270,000 2 1.5 1393
17650 Deemar Way Detached $310,000 4 2 1375
1225 Spruce St Detached $320,000 3 1.5 1732
4271 Woodside Circle Attached $360,000 3 2 2126
1284 Rockinghorse Ln Detached $395,000 4 2 1852
1520 Ash St Detached $399,900 2 1 1200
18 Independence Ave Detached $459,000 4 3 3714
18321 Wood Thrush Circle Detached $469,000 3 2.5 2333
6 Scarborough Dr Detached $520,500 5 3 2513
12 Buckingham Ter Detached $535,000 5 3.5 3642
15677 Fieldstone Dr Detached $546,500 3 2.5 2517
4105 Upper Dr Detached $549,000 4 2 3463
17486 Redfern Ave Detached $599,000 3 2 1700
18103 Westminster Dr Detached $699,900 4 2.5 3344
41114 Casey Ct Detached $719,000 4 2.5 3405
5623 Grand Oaks Dr Detached $729,900 4 2.5 3323
592 7th St Detached $869,000 2 3 2519
4018 Coho Ln Detached $959,000 4 4.5 5128
18430 Tamaway Dr Detached $969,000 4 2.5+.5 4100
19575 35th Ct Detached $1,135,000 4 3 6081
202 Berwick Rd Detached $2,250,000 5 4.5 5679

PENDING SALES (Aug 5-11, 2013)

Address Type Price BR Baths SF DOM
47 Eagle Crest Dr #48 Condo $75,000 1 1 696 1
750 1st St A7 Condo $164,900 2 2 1350 17
17500 Pilkington Rd Detached $219,900 3 1 1050 48
18717 Pilkington Rd Detached $240,000 3 1.5 1240 12
4328 Botticelli St Condo $259,900 2 2.5 2260 13
4204 Woodside Circle Attached $269,900 2 2 1308 41
5859 Kennycroft Way Detached $269,900 3 1.5 1235 2
18545 Kristi Way Detached $279,000 3 1.5 1307 2
600 Tippecanoe Ct Detached $359,000 3 2 1812 51
4200 Westbay Rd Detached $399,000 2 1 944 38
845 Lake Forest Dr Detached $399,000 3 1 1359 0
916 Cumberland Rd Detached $399,950 3 2 1700 4
16978 Canal Circle Detached $439,000 3 2 2062 3
908 Cumberland Pl Detached $439,500 4 3 2715 58
303 Lake Bay Ct Detached $459,900 3 2.5 1560 95
16878 Gassner Ln Detached $489,000 4 2 2998 37
19424 Olson Ave Detached $525,000 4 2.5 2777 5
17450 Treetop Way Detached $549,500 5 3 3752 114

SOLD (Aug 5-11, 2013)

Address Type List Price Closed Price Sq Ft CDOM
188 Oswego Summit Condo $139,950 $139,950 1383 13
3285 Childs Rd Detached $340,000 $220,000 2780 183
6 The Grotto Detached $309,900 $309,900 1381 14
540 2nd St Condo $359,900 $340,000 1,520 18
6173 Washington Ct Detached $370,000 $344,000 1440 55
15509 Partridge Dr Detached $419,900 $398,500 2299 15
13710 Knaus Rd Detached $499,900 $500,000 2021 3
134 Del Prado St Detached $569,000 $540,000 3972 21
13520 Knaus Rd Detached $549,000 $549,000 2641 2
4102 Chad Dr Detached $614,950 $605,000 2987 51
17766 Marylcreek Dr Detached $639,000 $639,000 4472 1110
2744 Tolkien Ln Detached $649,900 $643,370 3888 3
4605 Chelsea Ln Detached $649,900 $649,900 3411 18

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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Open Houses 8/11/13

There are 26 open houses this afternoon in Lake Oswego. Enjoy!

Address Price Type Bedroom Bath Open
4000 Carmand Dr #60 $149,900 Attached 2 2 1 to 3
4000 Carmand Dr #12 $158,000 Attached 2 2 1 to 3
18420 Don Lee Way $255,000 Detached 3 1 11 to 1
5195 Firwood Rd $359,000 Detached 3 3 1 to 4
1023 Lund St $399,000 Detached 4 2.5 1 to 3
1520 Ash St $399,900 Detached 2 1 1 to 3
16933 Greentree Ave $458,000 Detached 3 2.5 2 to 4
18321 Wood Thrush Circle $469,000 Detached 3 2.5 1 to 3
16838 Wight Ln $469,500 Detached 4 2.5 2 to 4
4890 Sage Hen Circle $474,900 Detached 4 2.5 12 to 2
12 Buckingham Terrace $535,000 Detached 5 3.5 1 to 3
2401 Glen Haven Rd $575,000 Detached 5 3 1 to 3
5555 Fieldstone Ct $579,500 Detached 3 2.5 12 to 3
3601 Red Cedar Way $599,000 Detached 4 2 12 to 2
11 Masaryk St $619,900 Detached 5 4 1:30 to 3:30
816 9th St $629,000 Detached 4 3 1 to 3
18042 Jenifers Way $657,950 Detached 4 3 1:30 to 3:30
5522 Royal Oaks Dr $683,500 Detached 4 2.5 11 to 2
14920 Twin Fir Rd $695,000 Detached 3 1.5 1 to 4
4114 Casey Ct $719,000 Detached 4 2.5 1 to 3
5267 Lakeview Blvd $724,900 Detached 4 3.5 1 to 3
18187 Siena Dr $978,950 Detached 4 3.5 1 to 4
17301 Canal Circle $995,000 Detached 3 2.5 2 to 4
752 E Ave $1,098,950 Detached 3 3 12 to 2
853 D Ave $1,350,000 Detached 4 3.5 1 to 3
112 Northshore Circle $1,550,000 Detached 3 3.5 11 to 4
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Sweet Sounds of Summer

Summer 2013 075Summer is a full and rich time of year. I know it schedules out hard and heavy and I really have to prioritize what I want to do. So it’s easy to miss something here or there. This is one thing that you do not want to miss. Make an effort and take advantage of the LO Summer Concert Series. They are free and they are wonderful.

Curtis Salgado performed last night at Foothills Park. Children were the early dancers, but it did not take long for the full crowd to get involved. Curtis Salgado is internationally recognized. He was awarded the 2013 BB King Entertainer of the year award. He was John Belushi’s inspiration for the Blues Brothers. This is seriously great entertainment, and its FREE.

Summer 2013 079The next concert coming up will be July 28th, this Sunday, at Millennium Plaza Park, 6:00-7:30. Scott Cossu, a well-known, new-age pianist will be performing. His music is a blend of jazz, classical, and ethnic. It is bound to be good.

Then next Wednesday, July 31st from 6:30-8:30, Five Guys Named Moe will be performing at Foothills Park. This is a 12-piece show band with a huge horn section, back-up vocals, and strong lead singers. It sounds like the kind of band that makes you get onto your feet and move.

Summer 2013 063There is just something about live music on a summer evening. You can not help but smile and feel like this is what it is all about. I’ve got to share something so sweet, something so special, it really captures what I am trying to say here. At last night’s concert I saw a man wheel his wife in to the park in a wheel chair. As the music got going, he would lift her to her feet where she could stand, then, holding her hands between them, they danced. Smiling from ear to ear, they had a great time.

This is summer at its best. Don’t let it pass you by!
Dianne

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Buying Pointers

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Your home is likely the single biggest purchase you will ever make. You want to do it right. You want to find the right house, at the right price, and experience the best deal possible. Of course as a Realtor I am going to suggest that you use a Realtor, but I actually have thoughts beyond that that I thought I would share with you.

Get Pre-Qualified
Use a good reputable lender who will tell you what you can afford. This accomplishes two things: you know you are looking at houses that you can actually buy, and it gives you strength in negotiating. With out a letter stating that you are pre-qualified, a person selling real estate will not take you seriously.

Check your thinking
Buying a home is a pretty personal experience. You end up sharing extremely personal information with your lender and your Realtor. It takes a good deal of your time, which makes the rest of your life more stressful. Knowing this, here are my pearls of wisdom:

1. Be honest with everyone up front. If you have credit problems, tell your lender and let him/her help you to fix them. If you hate day-light basement homes, tell your Realtor so that he/she doesn’t waste your time showing them to you. Communication is king!

2. Be prepared to jump quickly when a good house comes onto the market. If it’s a nice house that is well priced, you won’t be the only person who wants it. These nice houses are currently selling fast. Your Realtor is not trying to pressure you when they tell you there are other offers or that they are of the opinion that there will be other offers. This is the current market. So be prepared to make decisions quickly.

3. Do a thorough home inspection. Today it is common to video scope the sewer line and test for radon, along with the standard full-house inspection. If it’s an older home, ask about previous in-ground oil tanks. If the seller has no knowledge, have the yard scanned for a tank. Know your options about inspections by visiting http://www.oregonfirst.com/buyer_advisory

4. Be patient with your loan officer. A good loan officer is much like a coach. They collect all of the information from you that they anticipate you needing to be approved by the bank’s underwriter, then they throw you into the game. Sometimes, well, actually lots of times, the underwriter throws your file back to the loan officer and asks for more data. It is aggravating as all get out, but all of the banks are doing it. It is not your loan officer picking on you. They are working very hard to get you your loan.

5. Don’t make any purchases on credit while in escrow. Your credit and employment will both be checked again just before closing. Any major changes could put everything on the skids. I had a sale get delayed by 3 weeks because the buyer went to a large retail store and maxed out a credit card on new stuff for the house. It took 3 weeks to pay off the new balance and get the credit score back up to a number that final underwriting would approve.

6. Be flexible with the closing date. Everyone is working towards the same goal of completing the purchase, but everything is just taking longer. It feels to me like lenders are working right up until the target closing date and then not giving title companies enough time to get everyone signed. Most transactions are closing 1-7 days late. So if you have lined up your moving truck and have all your stuff in the driveway, it’s going to be stressful. Build in a buffer, if you can. Arrange to stay in your current housing for about a week following the target closing date. This will save you lots of stress and, if it closes right on time, give you time for a leisurely move.

7. Go to http://www.oregonfirst.com/buyer_advisory you’ll find info on so much more than I have covered here. It is a great resource.

I hope you find this helpful. Don’t hesitate to contact Linda or myself if you have questions. As always, we love what we do and we are here to help.
Dianne

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Open Houses 6/30/13

It’s a beautiful summer weekend. Perfect for touring some wonderful homes. This Sunday in Lake Oswego there are 24 open houses scheduled. Enjoy!

Address Price Type Bedroom Bath Open
4 Touchstone #126 $115,000 Condo 2 2 3 to 5
4458 Thunder Vista Ln $225,000 Attached 2 2.5 1 to 4
4302 Botticelli St $245,000 Attached 3 3.5 11 to 2
15205 Boones Way $299,900 Attached 3 2 12 to 2
31 Oriole Ln $375,000 Detached 3 3 11 to 1
600 Tippecanoe Ct $375,000 Detached 3 2 1 to 3
13198 Peters Rd $434,500 Detached 3 2.5 2 to 6
14071 Sundeleaf Dr $449,900 Detached 5 3 1 to 3
16933 Greentree Ave $479,000 Detached 3 2.5 1 to 3
4890 Sage Hen Circle $479,900 Detached 4 2.5 12 to 2
6192 Harrington Ave $489,500 Detached 5 3 1 to 3
16907 Cherry Crest Dr $499,000 Detached 5 3.5 2 to 4
16966 Summer Pl $525,000 Detached 4 2.5 1 to 3
6 Juarez St $540,000 Detached 4 3.5 3 to 5
5272 Tualata Ln $549,000 Detached 4 3 1 to 3
4121 Hedge Nettle Ct $552,500 Detached 3 2.5 1 to 3
45 Aquinas St $554,000 Detached 3 2.5 1 to 4
13265 Fox Run $659,000 Detached 4 2.5 12 to 2
4540 Lamont Way $919,950 Detached 4 2.5 1 to 3
18325 Crestline Dr $1,275,000 Detached 5 4 1 to 4
17485 Cardinal Dr $1,295,000 Detached 4 3.5 1 to 4
17618 Crestline Dr $1,295,000 Detached 4 3.5+.5 1to 4
853 D Ave $1,350,000 Detached 4 3.5 2 to 4
112 Northshore Circle $1,575,000 Detached 3 3.5 11 to 4
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LO Housing Snap Shot

I get a kick out of looking at statistics. If you have been reading the blotter for a few years, you’ll also know that I like to do a comparison of most expensive in LO versus least expensive. LO is known for expensive, lake-front homes. However, that is not the definition of Lake Oswego real estate. There is actually quite a wide variety of house values in Lake Oswego. With all of this in mind, I decided to put together a reference chart so that you and I can both see the last 8 years market activity, based upon price range.

I took some liberties here. I lumped the expensive inventory into $2,000,000+. I also lumped the less expensive inventory into $100,000-$300,000. In both cases I did this because there just simply isn’t a lot of houses at either extreme of the spectrum. In between I broke it down into $100,000 increments, but for the sake of time, stopped at $700,000. I may go back and look at the $700,000 to $2,000,000, but that would be in another post.

One last liberty that I took: I did a 2013 January to July and then using that number, projected the full year. There are lots of variables that could affect this final number, so this one is pretty speculative.

These are all single-family, detached homes and not condos.

Here is what I found:

Homes Priced $2,000,000 to $30,000,000 Homes Priced $400,000 to $500,000
2013 1st Six Months/Projected 3/6 2013 1st Six Months/Projected 75/150
2012 7 2012 108
2011 4 2011 86
2010 3 2010 86
2009 8 2009 74
2008 3 2008 74
2007 12 2007 112
2006 7 2006 135
Homes Priced $600,000 to $700,000 Homes Priced $300,000 to $400,000
2013 1st Six Months/Projected 40/80 2013 1st Six Months/Projected 70/140
2012 47 2012 125
2011 45 2011 124
2010 39 2010 113
2009 36 2009 105
2008 46 2008 74
2007 69 2007 94
2006 79 2006 94
Homes Priced $500,000 to $600,000 Homes Priced $100,000 to $300,000
2013 1st Six Months/Projected 53/106 2013 1st Six Months/Projected 39/78
2012 92 2012 130
2011 59 2011 111
2010 76 2010 79
2009 51 2009 51
2008 52 2008 12
2007 97 2007 13
2006 97 2006 21

Here are some of my personal observations:

Those $2,000,000+ houses were selling pretty well before the recession with 12 sold in 2007. They dropped off a bit in the recession, but look at 2009. In the depth of the recession more were sold than were sold in 2006, a peak boom year. 2013 we are on track to be about where we were at in 2012. This market feels stable, to me, but not a sellers market by any shape of the imagination.

In the $600,000 to $700,000 range the market demand dropped by 50% from 2006 to 2009. This price range suffered during the recession. My projection for 2013 puts this price range demand right back where it was pre-recession.

The $500,000 to $600,000 range dropped by nearly 50% between 2006 and 2009, but looking at 2012 and at my projection for 2013, the demand for this price range appears to have recovered.

In the $400,000 to $500,000 range there was a 50% drop in demand from 2006 to 2009. My projection for this year puts the demand at 110% of what it was in 2006. This price range is in high demand.

In the $300,000 to $400,000 range the market is pants on fire. In 2006 94 houses sold in this price range, in 2012 125 sold, and my projection for 2013 is 140. The catch here is that prices are going up so this inventory is shrinking. There may not be enough new listings in this range to meet the demand and so the projection I have done will probably be restricted by lack of homes available.

In the $100,000 to $300,000 range there are only 5 properties currently for sale. In 2006 just 21 homes sold for under 300K. I find this part really interesting. Even in this super affordable part of the Lake Oswego market, in the depth of the recession, there was a fall off of demand. 2008 had just 12 houses sold: anemic for sure. Then look at 2009 and 2010. These were the years of the “first-time home buyer incentive” that was part of the Federal stimulus deal. From 2008 to 2009 there was a 400% increase in sales in this price range. In 2012 130 homes were sold in Lake Oswego for under $300,000. This part of the market is a sellers paradise. This year there have been 39 sales. If I projected the same level of demand to the end of the year that would mean 78 sales. The catch? There are only 5 active listings under $300,000. So that is not going to happen. And the reason there were so few sales in 2006 in this price range? It wasn’t because there was a lack of demand. It was because there was a lack of inventory. So this part of the market has recovered very nicely, indeed.

This brings me back to my original curiosity. What is the most and least expensive house currently for sale in LO?

At a modest price of $9,998,000 you can buy a 13,462 square foot, main-lake home. It features 5 bedrooms, 6 full baths, and 2 half baths. Built in 2009 it has every modern amenity you could imagine.

At a slightly more modest price of $225,000 you can buy at 1050 square foot home on a slightly-busy street. It features 3 bedrooms and 1-full bath. Built in 1920 it has a carport and is on a nice sized lot.

I hope you found this enlightening. Statistics can be fun.
Dianne

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Market Activity June 10-16, 2013

There was more great real estate activity in Lake Oswego last week with 19 new listings, 18 houses that went pending, and 23 closed sales. Most homes are continuing to sell quickly, and in every price range.
Here is the breakdown of activity according to RMLS:

NEW SALES (June 10-16, 2013):

Address Type Price BR Bths SF
188 Oswego Summit Condo $139,950 2 2 1383
4000 Carmen Dr #12 Condo $158,000 2 2 866
195 Oswego Summit Condo $229,900 2 2 1506
15121 Quarry Rd Detached $344,800 3 2 1284
837 Country Club Rd Detached $425,000 4 3 1750
13198 Peters Rd Detached $434,500 3 2.5 2630
4286 Orchard Way Detached $478,500 3 2 1998
18442 Deerbrush Ave Detached $479,000 4 2.5 2550
18740 Wood Duck Circle Detached $489,000 3 2 2535
5272 Tualata Ln Detached $549,000 4 3 2529
45 Aquinas St Detached $554,000 3 2.5 2981
1931 Park Forest Ct Detached $649,000 5 4.5 3866
4605 Chelsea Ln Detached $649,900 4 2.5 3411
5522 Royal Oaks Dr Detached $683,500 4 2.5 2471
13265 Fox Run Detached $699,000 4 2.5 2614
2833 Rivendell Rd Detached $718,000 4 2.5 3093
13080 Thoma Rd Detached $1,150,000 3 2 2810
3200 Childs Rd Detached $1,295,000 4 3.5 5128
12210 Orchard Hill Rd Detached $1,495,000 4 3.5+.5 4640

PENDING SALES (June 10-16, 2013)

Address Type Price BR Baths SF DOM
4 Touchstone #126 Condo $115,000 2 2 984 87
4 Touchstone #147 Condo $165,000 3 2.5 1351 6
4 Saint Helens Circle Detached $275,000 3 2 1617 11
5432 Kenny St Detached $278,000 3 1 1352 8
79 Kingsgate Rd Detached $359,000 3 2.5 1938 29
6173 Washington Ct Detached $370,000 2 2 1440 55
18971 Indian Springs Circle Detached $375,000 3 2 1525 2
1467 Greentree Circle Detached $412,500 3 2 1896 57
42 Spinosa Detached $439,900 3 2.5 2056 36
8 Hotspur St Detached $440,000 3 2.5 1954 56
2395 Greentree Rd Detached $465,000 4 2.5 2832 14
16976 Cherry Crest Dr Detached $499,000 4 2.5 2655 18
15988 White Oaks Dr Detached $549,999 4 2.5 2854 34
110 3rd St Detached $550,000 1 1 915 130
18183 Westminster Dr Detached $558,000 3 2.5 3066 50
5710 Charles Circle Detached $668,000 4 2.5 3061 4
2896 Tolkien Ln Detached $749,000 5 3.5 5180 15
2719 Rivendell Rd Detached $799,000 4 2.5 3554 20

SOLD (June 10-16, 2013)

Address Type List Price Closed Price Sq Ft CDOM
4620 Lower Dr Condo $75,000 $75,005 1160 107
5533 Tree St Detached $259,500 $263,000 1114 2
72 Greenridge Ct Attached $269,000 $269,000 1824 7
18816 Longfellow Ave Detached $289,900 $279,000 1,033 6
102 Kingsgate Rd Detached $305,000 $312,000 1727 3
18903 Terry Ave Detached $339,000 $330,000 1236 65
13901 Sundeleaf Dr Detached $379,900 $354,900 1900 103
1615 Hallinan St Detached $349,900 $355,000 1500 4
1651 Larch St Detached $364,900 $369,900 2225 3
1720 Mapleleaf Rd Detached $369,000 $380,000 1584 2
1297 Hida A Way Ln Detached $367,500 $390,000 1832 3
14466 Holly Springs Rd Attached $425,000 $410,000 2238 9
17438 Cardinal Dr Detached $420,000 $420,000 2286 29
3140 Royce Way Detached $429,900 $430,000 1923 2
343 3rd St Attached $469,500 $487,000 1959 8
2491 Overlook Dr Detached $609,900 $567,000 3,250 173
320 Berwick Rd Detached $649,000 $649,000 2780 2
13430 Atwater Ln Detached $695,000 $665,000 3557 6
2479 Palisades Crest Dr Detached $799,999 $679,500 6640 510
1979 Country Club Rd Detached $750,000 $752,500 4115 61
2371 Palisades Crest Dr Detached $849,000 $849,000 4182 2
17282 Lake Haven Dr Detached $1,195,000 $985,000 3664 41
17152 Cedar Rd Detached $1,295,000 $1,100,000 3034 35

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