Double-bottom-line Thinking

I have had an idea swirling around in my head for a few weeks now. It comes from my personal experience with clients as they interact with the current economy and the housing market. This idea really jelled in my thinking when I read Ted Leonsis’ article in the April 12th issue of Newsweek.

My observation with clients, both buyers and sellers, is that there is a tremendous amount of attention and focus put onto the dollars involved in buying and selling. This is nothing new. Real estate is, for most people, the largest financial investment they will make in their entire lifetime. So what is different is that the weight being put onto the investment is in many cases causing people to forget that real estate is also about a home. Yes, I am addressing this to houses that people live in and not to rentals or portfolio properties. What I am seeing is that people are so driven to get the right deal, that they are passing up properties that are far superior in amenities.

Ted Leonsis is a former vice chairman of AOL and the author of a book, The Business of Happiness. His theory is that a company who wants financial success needs to not only think in terms of making money, but also in terms of doing what is often difficult but what is ultimately the right thing to do. This in turn keeps the company on a path of happiness that will ultimately also bring greater financial success. In other words, there is a link between pursuing happiness and also finding financial success. His case in point is the recent move by Google to route Web users from China to an unrestricted search page based out of Hong Kong. While this move may, in the short term, stifle the financial growth of Google in the biggest Internet market in the world, Leonsis believes that in the long term it will have greater financial success by placing its core values to do the right thing for humanity ahead of it’s short-term interest in its bottom line.

“Google aims to make money, of course, but it also has a motto (“Don’t be evil”) and a higher calling: to organize the world’s information and make it universally accessible. By refusing to participate in Chinese censorship, the company imperiled billions of dollars in future profit. More important, it protected its status as a happy company at peace with its values—and happy companies are more, not less, likely to continue being successful.”

Ted Leonsis goes on to call this way of looking at business double-bottom-line thinking. In other words, success should be measured by the financial growth of the investment, but also by the positive out come for the happiness of human beings.

It is probably my liberal arts education coming out here, but I find this to be really important. As a Realtor, when I represent buyers my job it to get them the best possible deal. When I represent sellers, by job is to get them the highest possible sales price. I never loose focus on that. But it is hard when I have a buyer who is saying to me “show me foreclosures and short sales because I’ve heard that they are the best deal”. Or when a seller passes up a lower offer that is all cash for a higher offer with a buyer who is only putting down 5%. Focusing strictly on money may cause you to pass up the house that was lovingly cared for and is priced $10,000 higher than the beaten up foreclosure down the street. And in this lending environment, cash buyers are a real blessing.

I guess I think that there is value that needs to be also given to things like timing (short sales take months to close, if they happen at all), good will (they buyer will take the house with the big pile of yard debris in the yard because it doesn’t bother them to have to clean it up), and livability (the big kitchen is ideally designed with loads of cabinets and counter space). For some reason this economy and this real estate market has got both buyers and sellers fixated on money, money, money. And that has them acting blindly to happiness. I thinking buying the right house, where you will live and grow, is just as important as buying the right deal.

The perfect sale does both: the house will be bought or sold at the right deal and it will also be more than a house, it will be a home. That is double-bottom-line thinking and that is a good way to approach both a property purchase and a property sale.

Market Activity Report ~ April 12 – 18, 2010

Lake Oswego saw 21 New properties enter the market, 21 go to Pending status, and 11 Sold during last week’s Monday – Sunday period according to RMLS. Here’ your weekly update (see below the tables for additional notes):

NEWLY LISTED (April 12—April 18, 2010)

Address List Price # Beds # Baths Total SF Prop Type List Date
4459 THUNDER VISTA LN $215,000 2 2.1 1,925 CONDO 4/18/2010
15 BRITTEN CT $274,999 3 2.1 1,973 ATTACHD 4/12/2010
15148 QUARRY RD $279,000 3 2 1,618 DETACHD 4/16/2010
1005 SOUTHSHORE BLVD $289,900 3 2 2,196 DETACHD 4/16/2010
1225 SPRUCE ST $299,900 3 1.1 1,288 DETACHD 4/16/2010
6218 NOKOMIS CT $309,900 4 2 1,512 DETACHD 4/17/2010
104 KINGSGATE RD $359,000 3 2.1 2,000 DETACHD 4/16/2010
14433 HOLLY SPRINGS RD $384,950 4 2.1 1,939 DETACHD 4/12/2010
4700 LOWER DR $409,900 3 2.1 1,587 DETACHD 4/12/2010
1642 HIGHLAND DR $449,000 4 3 2,234 DETACHD 4/12/2010
5008 HARTFORD PL $463,900 4 3 3,223 DETACHD 4/15/2010
14371 SHERBROOK PL $479,900 4 2.1 2,550 DETACHD 4/16/2010
2650 LOOKOUT CT $495,000 4 3.1 3,480 DETACHD 4/12/2010
1570 Woodland TER $524,900 4 2.1 2,311 DETACHD 4/16/2010
17573 BLUE HERON CT $584,000 4 3 2,396 DETACHD 4/14/2010
4184 SUNSET DR $649,000 6 3 2,916 DETACHD 4/14/2010
3210 FIR RIDGE RD $795,000 4 3.2 2,832 DETACHD 4/13/2010
1176 TROON RD $859,000 3 2 3,022 DETACHD 4/16/2010
12819 ALTO PARK RD $1,097,500 4 4.1 3,944 DETACHD 4/12/2010
16777 PHANTOM BLUFF CT $1,250,000 4 2.2 5,102 DETACHD 4/15/2010
1961 CHERYL CT $1,275,000 5 4.1 5,124 DETACHD 4/12/2010

PENDING SALES (April 12 – April 18, 2010)

Address List Price # Beds # Baths Total SF Prop Type CDOM
96 CERVANTES CIR $129,900 2 1.1 912 CONDO 64
750 1ST ST $185,000 2 2 1,350 CONDO 73
16149 PEARCY ST $229,900 3 2 1,250 DETACHD 17
211 OSWEGO SMT $229,900 2 2 1,506 CONDO 241
5341 CHINOOK CT $249,700 3 2 1,120 DETACHD 598
2764 GLEN HAVEN RD $294,900 3 1.1 1,352 DETACHD 10
1818 COUNTRY CLUB RD $325,000 3 2 1,596 DETACHD 4
4310 SILVER CT $339,000 2 3.1 1,996 CONDO 298
17870 DEERBRUSH AVE $349,900 3 2.1 1,912 DETACHD 18
5834 SEVILLE AVE $350,000 3 2 1,516 DETACHD 5
18156 PIONEER CT $367,300 3 2 1,558 DETACHD 27
119 3RD ST $385,000 3 2 1,204 CONDO 187
15547 PARTRIDGE DR $389,900 3 2.1 2,266 DETACHD 214
1790 YARMOUTH CIR $419,950 2 2 1,473 DETACHD 206
14377 CAMDEN LN $499,900 4 2.1 2,530 DETACHD 2
4705 LAKEVIEW BLVD $529,900 4 2.1 2,700 DETACHD 7
5830 SUNBROOK DR $539,000 5 2.1 2,810 DETACHD 29
17471 CARDINAL DR $564,900 4 2.1 3,056 DETACHD 61
5218 WESTFIELD CT $649,900 4 2.1 3,125 DETACHD 284
4349 LAKEVIEW BLVD $650,000 3 3 3,678 DETACHD 10
13278 ROGERS RD $695,000 3 2.1 2,964 DETACHD 177

SOLD (April 12- April 18, 2010)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4 TOUCHSTONE $129,000 $134,000 2 2 979 CONDO 6
668 MCVEY AVE $219,000 $205,000 3 1.1 985 CONDO 243
505 8TH ST $389,000 $305,000 3 1 1,050 DETACHD 143
12519 27TH PL $339,000 $335,000 3 2.1 1,975 DETACHD 15
516 7TH ST $355,000 $347,500 3 2.1 1,502 DETACHD 12
13052 KNAUS RD $475,000 $400,000 5 3 3,026 DETACHD 34
4763 AVERY LN $514,900 $480,000 4 2.1 2,566 DETACHD 19
14279 CAMDEN LN $525,000 $485,000 4 2.1 2,373 DETACHD 71
10 OTHELLO ST $549,900 $535,000 4 3 3,440 DETACHD 3
17363 BROOKHURST DR $625,000 $605,000 4 2.1 3,420 DETACHD 14
64 BERWICK RD $759,000 $735,000 4 3.1 3,740 DETACHD 66

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.

Lake Oswego Open Houses ~ Sunday, April 18, 2010

OK… did I hear that it’s supposed to be 70 degrees Sunday??? If you are in the market for a home in Lake Oswego, I can’t imagine that this stellar line-up of 34 homes and the blue skies would not be enough to entice you away from brunch… or yard work… or sleeping in : )

Here are the homes held Open according to RMLS.  As always, enjoy!

Address L/Price # Beds # Baths Total SF Style Time
1597 BONNIEBRAE DR $199,900 2 1 998 CONDO 1-3PM
4340 BOTTICELLI ST $239,900 3 3.1 2098 TWNHSE 1-3PM
16711 MELLON AVE $309,900 3 2 1346 DETACHD 1-4PM
16969 ALDER CIR $329,900 3 2 1534 DETACHD 1-3PM
3269 PHYLLIS CT $339,900 3 1.2 1711 DETACHD 1-4PM
4971 SUNTREE LN $394,900 3 2.1 1911 DETACHD 1-4PM
19242 TERRY AVE $395,000 4 2 1872 DETACHD 2-4PM
550 2ND ST $410,000 2 1.2 1520 TWNHSE 1-4PM
1642 HIGHLAND DR $449,000 4 3 2234 DETACHD 1-4PM
24 PARTRIDGE LN $449,000 4 2.1 3224 DETACHD 1-3PM
662 CLARA CT $469,900 3 3 2740 DETACHD 3-5PM
17802 HILLSIDE WAY $489,998 4 2.1 2965 DETACHD 1-3PM
1503 PINE ST $509,000 5 3 2792 DETACHD 2:30-5PM
19735 SUNCREST DR $544,950 4 3.1 3224 DETACHD 2-4PM
12 MONTICELLO DR $549,000 4 2.1 3658 DETACHD 11-2PM
19415 SW DOGWOOD CT $549,900 5 3 3517 DETACHD 10AM-5PM
19288 SW Megly CT $579,900 5 3 3594 DETACHD 10AM-5PM
17491 BLUE HERON DR $639,950 4 2 2396 DETACHD 1-3PM
4184 SUNSET DR $649,000 6 3 2916 DETACHD 2-4PM
19244 35TH PL $729,000 4 3 3503 DETACHD 12-2:30PM
1015 SOUTHSHORE BLVD $773,000 4 3 3542 DETACHD 11-2PM
14480 KRUSE OAKS BLVD $895,000 4 3.1 4661 DETACHD 10-2PM
12439 SW 22ND AVE $899,900 4 3.1 4118 DETACHD 2-4PM
17896 KELOK RD $948,500 5 5 4323 DETACHD 2:15-4PM
18222 SIENA DR $1,088,000 6 4.1 3800 DETACHD 1-3PM
18209 SIENA DR $1,178,950 5 3.1 3839 DETACHD 1-3PM
17464 RIDGEVIEW LN $1,199,950 4 3.1 4407 DETACHD 1-3PM
1808 RIDGE POINTE DR $1,269,000 5 4.1 4155 DETACHD 1-3PM
18246 BELLA TERRA DR $1,294,000 4 3.1 4196 DETACHD 1-3PM
657 OAK MEADOW DR $1,349,950 4 3.1 4371 DETACHD 1-3PM
3114 DOUGLAS CIR $1,395,000 4 4 5420 DETACHD 12-4PM
17364 RIDGEVIEW CT $1,399,950 4 3.1 4436 DETACHD 1-3PM
18820 GREENBLUFF DR $1,495,000 4 4.1 5382 DETACHD 2-4PM
2572 GLEN EAGLES PL $2,395,000 5 4.2 6490 DETACHD 1-3PM

Local Lake Oswego Updates

Pedestrian Safety – The City of Lake Oswego is letting all know ahead of time of it’s efforts at upholding pedestrian safety.  To this end, the police department is holding a “Pedestrian Safety Operation” on April 19th, from 10:00AM to 2:00PM at the intersection of B Avenue and 2nd Street.  In times past this has involved posting pedestrians at the sidewalk and gauging cars’ responses as they step off the curb into the crosswalk…. usually with citations accompanying undesirable reactions on the part of drivers.  Be forewarned… stay safe… and keep our pedestrians safe!

Overly-Industrious Flicker – There has been a Flicker noticed at Lake Oswego City Hall…. mainly for the noise it produces as it does what Flickers do… and for the damage it is apparently doing to the building.  The city is trying to distract the Flicker from it’s work & encourage it to go elsewhere… (it can come to my house… but it will need to take a vacation!) with brightly colored & decorated balloons.  So, if you see these at city hall (perhaps you are visiting to pay a pedestrian-safety-ticket or some other such thing : )  Don’t be alarmed, and don’t worry that there is a celebration you are missing… it is just the city’s attempt to shush a Flicker to another location. (Yes, I drew this… and no, I have no shame :  )

The City of Lake Oswego’s “Attitude Survey” – Every two years the City of Lake Oswego conducts an attitude survey, and this year phones in Lake Oswego have already started ringing as Campbell Delong Resources calls to inquire as to how citizens are feeling about a variety of things affecting life here. Calls are expected to continue until April 19th.  Here is a link to the last survey in 2008:   Attitude Survey

Lake Oswego Trees –  As most know, Lake Oswego takes its trees rather seriously.  This is great for us at this time of year as we usually have some interesting offerings in terms of classes or events in that regard.  This year we have several workshops to choose from:

* Tree Pruning with Damon Schrosk, a certified arborist of “Treecology” – May 9th, 9:00Am to 12:00PM at the City Hall Council Chambers, 380 A Avenue.

* Gardening with Natives – Stephanie Wagner of Friends of Tryon Creek offers this workshop on native species gardening May 16, 1:00PM to 4:00PM, Tryon Creek Nature Center, 1131 SW Terwilliger Blvd.

* Tree Code Decoded – This one is a must for any Lake Oswego citizen wanting to do something with their trees other than look at them and admire their beauty.  Bill Youngblood, Code Enforcement Officer, and Andy Gulizia, Associate Planner for the city of Lake Oswego will guide you in what’s allowed, what’s not allowed, and proper steps if you want to pursue making any changes on your property with regard to trees. June 5th, 9:00AM to 12:00PM City Hall Council Chambers, 380 “A” Avenue.

* Centennial – Lake Oswego is offering Part 3 of the Oswego Centennial Video. This is great stuff if you are interested in the history of Lake Oswego… and who wouldn’t be!  If you are not familiar with it, our roots are worth investigating.  Part 3 evidently explores the time during which Lake Oswego began to blossom into its recreational destiny with water sports (skiing, boating & swimming)  being a big draw from Portland, and local athletes becoming nationally-known swim stars. This video covers the 40’s through the 60’s.  You can learn more and view the retrospective video at:  LO Centennial

Market Activity Report for Lake Oswego, April 5-11, 2010

It is an absolutely glorious day today, and it is only supposed to get better as the week goes on. I love it! I also want to thank the propertyblotter readers who came by my open house on Sunday. Great to meet you!

Last week Lake Oswego had 24 new listings come onto the market, 19 houses that went pending, and 7 houses that were closed sales. Here is the full data for last week (see below for additional notes):

NEWLY LISTED (April 5-11, 2010)

Address List Price # BR # BTHS Total SF Prop Type List Date
47 GREENRIDGE CT $100,000 2 1.1 1,176 CONDO 4/5/2010
100 KERR PKWY $134,900 2 1.1 822 CONDO 4/8/2010
4 TOUCHSTONE $184,000 3 2.1 1,350 ATTACHD 4/8/2010
5287 W SUNSET DR $249,900 2 1 822 DETACHD 4/6/2010
1818 COUNTRY CLUB RD $325,000 3 2 1,596 DETACHD 4/9/2010
10 PREAKNESS CT $375,000 4 2.1 2,270 CONDO 4/6/2010
4971 SUNTREE LN $394,900 3 2.1 1,911 DETACHD 4/7/2010
14423 ORCHARD SPRINGS RD $405,000 3 2.1 1,730 DETACHD 4/9/2010
17712 CARDINAL CT 420000 4 3 2,146 DETACHD 4/7/2010
24 PARTRIDGE LN 449000 4 2.1 3,224 DETACHD 4/8/2010
4844 LOWER DR 499000 4 4 2,285 ATTACHD 4/5/2010
4705 LAKEVIEW BLVD 529900 4 2.1 2,700 DETACHD 4/5/2010
745 BERWICK CT 549000 3 2 1,988 DETACHD 4/7/2010
4852 LOWER DR 569000 3 4 2,359 ATTACHD 4/5/2010
110 3RD ST 599000 1 1 915 DETACHD 4/5/2010
1704 GLENMORRIE TER 599000 5 3 3,885 DETACHD 4/9/2010
3899 DANIEL WAY 630000 4 2.1 3,005 DETACHD 4/9/2010
4349 LAKEVIEW BLVD 650000 3 3 3,678 DETACHD 4/7/2010
12211 ORCHARD HILL RD 715000 4 3 4,587 DETACHD 4/5/2010
426 7TH ST 725000 4 2.1 2,902 DETACHD 4/5/2010
4679 DOGWOOD DR 925000 5 3.2 4,456 DETACHD 4/9/2010
190 FURNACE ST 1000000 5 4.1 4,590 DETACHD 4/7/2010
2811 ARROWHEAD CT 1250000 4 3.1 3,740 DETACHD 4/9/2010
16743 GRAEF CIR 1599000 4 2.1 3,772 DETACHD 4/7/2010

PENDING SALES (April 5-11, 2010)

Address List Price # BR # BTHS Total SF Prop Type CDOM
4000 CARMAN DR $125,000 2 2 935 CONDO 346
65 OSWEGO SMT $129,900 2 2 1,140 CONDO 8
18420 DON LEE WAY $210,000 3 1 924 DETACHD 25
19032 KRISTI WAY $259,900 2 2 1,390 DETACHD 7
4420 GOLDEN LN $279,900 3 3.1 2,165 CONDO 391
4774 OAKRIDGE RD $329,000 3 1 2,104 DETACHD 220
3056 WEMBLEY PARK RD $339,000 3 2 2,600 DETACHD 36
4548 BLACK FOREST CT $414,000 4 2.1 2,157 DETACHD 649
4962 BILFORD LN 419900 3 2.1 2,168 DETACHD 106
1400 LEE ST 427500 4 3 2,804 DETACHD 106
1851 KILKENNY DR 450000 4 3 2,654 DETACHD 2
561 2ND ST 589000 2 2 1,561 CONDO 67
19203 SW Megly Ct 589900 5 3.1 3,595 DETACHD 76
18010 GIMLEY CT 685000 4 2.5 3,652 DETACHD 27
14124 HEATHROW LN 785000 4 3.1 3,812 DETACHD 5
19175 EASTSIDE RD 799000 5 4.1 5,263 DETACHD 86
3820 SOUTHSHORE BLVD 925000 5 4 4,855 DETACHD 169
842 6TH ST 1099999 4 3.1 3,840 DETACHD 62
17979 CRESTLINE DR 1149000 4 2.1 4,650 DETACHD 7

SOLD (April 5-11, 2010)

Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
3365 UPPER DR $299,999 $290,000 2 2 1,378 DETACHD 133
15 SAINT HELENS CIR $309,800 $295,000 3 2 1,528 DETACHD 6
2030 GREENTREE RD $368,900 $365,000 3 2 1,613 DETACHD 12
523 2nd ST $399,000 $399,000 2 2 1,274 CONDO 38
5400 BAY CREEK DR $499,900 $475,000 4 2.1 2,856 DETACHD 277
17079 CHERRY CREST AVE $575,000 $540,000 3 2.1 3,002 DETACHD 30
260 PINE VALLEY RD $1,369,000 $995,000 4 3.1 3,900 DETACHD 522

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.

Lake Oswego Open Houses for Sunday, April 11, 2010

This Sunday is the National Association of Realtors Nationwide Open House. That is reflected here in Lake Oswego by the fact that there are 58 houses being held open on Sunday. So if there ever was a day that you considered driving around to see some houses, this Sunday is that day. I am proud to also let you know that I will be holding open 211 Oswego Summit, a gorgeous, view condo at the top of Mt. Park. I noticed that in the affordability category, it is the 5th least expensive property on the open house roster. Come on by. I’d love to meet you.

Address List Price # BR # BTHS Total SF Prop Type Open
44 EAGLE CREST DR $119,900 2 1 908 CONDO 1 to 4
4 TOUCHSTONE $189,995 3 2.1 1,350 CONDO 1 to 3
287 CERVANTES $195,000 3 1.1 1,144 CONDO 2 to 4
200 BURNHAM RD $205,850 1 1 820 CONDO 3 to 5
211 OSWEGO SMT $229,900 2 2 1,506 CONDO 12 to 3
4340 BOTTICELLI ST $239,900 3 3.1 2,098 CONDO 1 to 4
12835 SW 62ND AVE $279,500 3 2 1,200 DETACHD 12 to 2
12892 BOONES FERRY RD $299,000 2 2.1 1,136 CONDO 1 to 3
4505 WILDWOOD ST 329900 3 2 1,720 DETACHD 1 to 3
5756 SW KENNY ST 339000 3 2.1 1,542 DETACHD 2 to 4
15965 INVERURIE RD 349900 3 2 1,915 DETACHD 10:30 to 12:30
5324 LOWER DR 370000 3 2.1 2,034 DETACHD 1 to 3
119 3RD ST 385000 3 2 1,204 CONDO 1 to 4
17763 MARDEE AVE 399500 5 3 2,300 DETACHD 1:30 to 3:30
16901 LAKERIDGE DR 399900 4 3 2,080 DETACHD 1 to 3
19026 INDIAN SPRINGS RD 399900 5 3 2,471 DETACHD 2 to 4
138 KINGSGATE RD 399900 3 2.1 1,600 DETACHD 1 to 3
5644 WINDFIELD LOOP 410000 3 3 1,800 DETACHD 1 to 3
405 BOCA RATAN DR 449000 3 2.1 2,040 DETACHD 1 to 4
1641 ASH ST 450000 4 3 2,825 DETACHD 1 to 3
2697 LOOKOUT CT 450000 3 2 2,419 DETACHD 12 to 2
13340 AUBURN CT 465000 3 2.1 2,451 ATTACHD 1 to 3
5475 WILLOW CT 474900 3 2.1 2,438 ATTACHD 1 to 3
1344 TROON DR 475000 3 2 2,600 DETACHD 12 to 2
1931 WOODLAND TER 495000 4 3 2,817 DETACHD 1 to 4
136 D AVE 515000 2 2.1 1,741 ATTACHD 1 to 4
5678 CHARLES CIR 540000 3 4 3,455 DETACHD 1 to 3
745 BERWICK CT 549000 3 2 1,988 DETACHD 1 to 4
19415 SW DOGWOOD CT 549900 5 3 3,517 DETACHD 10 to 5
1060 UPPER DEVON LN 559000 3 2.1 2,400 DETACHD 12 to 2
26 INDEPENDENCE AVE 574000 4 3 3,694 DETACHD 1 to 3
19288 SW Megly CT 579900 5 3 3,594 DETACHD 10 to 5
17879 HILLSIDE DR 584900 3 3 3,049 DETACHD 1 to 4
19266 SW MEGLY CT 589900 4 3 3,575 DETACHD
19101 INDIAN CREEK AVE 599900 2 2.1 3,259 DETACHD 2 to 5
7 MOUNTAIN VIEW LN 609000 5 2.1 3,324 DETACHD 1 to 4
18606 WESTVIEW DR 649900 3 2.5 2,783 DETACHD 12 to 3
18010 GIMLEY CT 685000 4 2.5 3,652 DETACHD 12 to 3
5705 SOUTHWOOD DR 687000 3 2.1 3,372 DETACHD 1 to 3
1015 SOUTHSHORE BLVD 773000 4 3 3,542 DETACHD 11 to 2
282 GREENWOOD RD 799500 3 2.1 2,538 DETACHD 2 to 6
1785 PALISADES TERRACE DR 847000 5 4.1 5,052 DETACHD 1 to 3
12439 SW 22ND AVE 899900 4 3.1 4,118 DETACHD 2 to 4
17896 KELOK RD 948500 5 5 4,323 DETACHD 2:15 to 4
18222 SIENA DR 1088000 6 4.1 3,800 DETACHD 1 to 3
17642 UPPER CHERRY LN 1099000 3 3.1 3,927 DETACHD 12 to 3
1809 HEADLEE LN 1125000 2 2.1 3,836 DETACHD 1 to 4
18209 SIENA DR 1178950 5 3.1 3,839 DETACHD 1 to 3
16805 SCOTT CT 1190000 4 3.1 4,321 DETACHD 12:15 to 2:15
17464 RIDGEVIEW LN 1199950 4 3.1 4,407 DETACHD 1 to 3
1808 RIDGE POINTE DR 1269000 5 4.1 4,155 DETACHD 1 to 3
18246 BELLA TERRA DR 1294000 4 3.1 4,196 DETACHD 1 to 3
408 Northshore RD 1299000 4 3.1 3,753 DETACHD 1 to 3
664 OAK MEADOW DR 1299950 4 3.1 4,198 DETACHD 1 to 3
657 OAK MEADOW DR 1349950 4 3.1 4,371 DETACHD 1 to 3
17364 RIDGEVIEW CT 1399950 4 3.1 4,436 DETACHD 1 to 3
18024 SKYLAND CIR 1665000 4 3.2 4,131 DETACHD 12 to 3
15825 OSWEGO SHORE CT 1985850 4 3.1 4,317 DETACHD 12 to 2

Lake Oswego Open Houses ~ Easter 2010

Sunday, April 4th will be a time for all kinds of celebration, good food, activities with loved ones & friends, and…….. Open Houses in Lake Oswego!  There are 7 properties to see according to RMLS.  Enjoy!

Address L/Price # Beds # Baths Total SF Prop Type Open
19288 SW Megly CT $579,900 5 3 3594 DETACHD 1-5PM
7 MOUNTAIN VIEW LN $609,000 5 2.1 3324 DETACHD 1-4PM
1015 SOUTHSHORE BLVD $773,000 4 3 3542 DETACHD 12:30-2:30PM
17464 RIDGEVIEW LN $1,199,950 4 3.1 4407 DETACHD 1-3PM
664 OAK MEADOW DR $1,299,950 4 3.1 4198 DETACHD 1-3PM
657 OAK MEADOW DR $1,349,950 4 3.1 4371 DETACHD 1-3PM
17364 RIDGEVIEW CT $1,399,950 4 3.1 4436 DETACHD 1-3Pm

Market Activity for March 22-28, 2010

Lake Oswego had 18 properties come onto the market last week, along with 13 houses that went pending and 8 houses that were closed sales. Here is your market report:

NEWLY LISTED (March 22—March 28, 2010)

Address List Price # BR # BTHS Total SF Prop Type List Date
100 KERR PKWY $99,990 1 1 617 CONDO 3/22/2010
4000 CARMAN DR $147,000 2 2 866 CONDO 3/23/2010
100 KERR PKWY $169,900 2 2 823 CONDO 3/22/2010
16149 PEARCY ST $229,900 3 2 1,250 DETACHD 3/26/2010
653 A AVE $245,000 2 2 1,290 DETACHD 3/24/2010
17870 DEERBRUSH AVE $349,900 3 2.1 1,912 DETACHD 3/26/2010
534 2ND ST $359,000 2 2.1 1,394 CONDO 3/28/2010
75 CONDOLEA WAY $389,000 3 3 2,131 CONDO 3/23/2010
31 NOVA CT 434000 4 2.1 2,107 DETACHD 3/28/2010
13340 AUBURN CT 465000 3 2.1 2,451 ATTACHD 3/22/2010
17701 LEAFY LN 589000 4 3 3,600 DETACHD 3/23/2010
203 EVERGREEN RD 619000 3 3.1 1,973 ATTACHD 3/22/2010
4113 WESTBAY RD 631000 2 3 2,477 DETACHD 3/25/2010
18606 WESTVIEW DR 649900 3 2.5 2,783 DETACHD 3/22/2010
491 COUNTRY CLUB RD 679900 3 2 2,486 DETACHD 3/23/2010
2099 SUMMIT DR 699000 3 2.1 2,250 DETACHD 3/23/2010
901 LAKE SHORE RD 899000 4 3 3,216 DETACHD 3/24/2010
667 LAKE BAY CT 1399000 4 4 3,361 DETACHD 3/25/2010

PENDING SALES (March 22 – March 28, 2010)

Address List Price # BR # BTHS Total SF Prop Type CDOM
15200 BOONES WAY $169,000 2 1.1 1,248 CONDO 142
16200 PACIFIC HWY $239,000 2 2 1,200 CONDO 173
1601 GREENTREE RD $249,900 3 2.1 2,444 DETACHD 149
7 PEACOCK PL $279,950 3 2.1 1,400 DETACHD 143
5 ORIOLE LN $348,000 3 2.1 2,024 DETACHD 14
15 CHURCHILL DOWNS $368,000 4 2 2,014 DETACHD 115
4002 TEMPEST DR $430,000 4 3.1 4,319 DETACHD 33
2440 OVERLOOK DR $500,000 4 3 3,874 DETACHD 36
14279 CAMDEN LN 510000 4 2.1 2,373 DETACHD 71
14584 PFEIFER WAY 559000 3 2 2,600 DETACHD 47
5783 VICTORIA CT 595000 3 2 2,344 DETACHD 14
13315 HIDDEN BAY CT 688000 5 2.1 3,671 DETACHD 151
5245 LANGFORD LN 719000 3 2.1 2,957 DETACHD 104

SOLD (March 22- March 28, 2010)

Address O/Price Close Price # BR # BTHS Total SF Prop Type CDOM
3009 WEMBLEY PARK RD $329,000 $320,000 4 1.1 1,754 DETACHD 302
2705 ORCHARD HILL PL $374,900 $331,500 3 2.5 2,250 DETACHD 19
5026 HARTFORD PL $429,000 $425,000 4 2.1 2,887 DETACHD 570
4651 HASTINGS PL $454,900 $440,000 4 2.1 2,215 DETACHD 35
5310 WASHINGTON CT $624,900 $582,000 4 3.1 3,328 DETACHD 878
5590 KODERRA AVE $689,000 $625,000 4 2.1 3,072 DETACHD 264
4380 UPPER DR $784,900 $710,000 5 4.1 4,071 DETACHD 181
16764 ALDER CIR $1,679,000 $1,350,000 4 4.1 3,456 DETACHD 200

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.

Open Houses for Sunday, March 28, 2010

Getting a head start on the weekend, here are the 21 open houses currently being promoted in the RMLS for this Sunday:

Address List Price # BR # BTHS Total SF Prop Type Open
1597 BONNIEBRAE DR $199,900 2 1 998 ATTACHD 1 to 3
181 Oswego Summit $200,000 2 2 1,383 CONDO 12 to 2
200 BURNHAM RD $205,850 1 1 820 CONDO 12 to 2
4251 WOODSIDE CIR $305,950 3 2 2,032 ATTACHD 12 to 2
3056 WEMBLEY PARK RD $339,000 3 2 2,600 DETACHD 1 to 4
19242 TERRY AVE $395,000 4 2 1,872 DETACHD 2 to 4
13340 AUBURN CT $465,000 3 2.1 2,451 ATTACHD 2 to 4
2031 LILLI LN $550,000 3 3.1 3,262 DETACHD 1 to 3
17 SCARBOROUGH DR 579900 4 2.1 3,290 DETACHD 1 to 4
19288 SW Megly CT 579900 5 3 3,594 DETACHD 1 to 5
7 MOUNTAIN VIEW LN 609000 5 2.1 3,324 DETACHD 1 to 4
15915 WALUGA DR 629000 3 2.1 2,939 DETACHD 1 to 4
17491 BLUE HERON DR 639950 4 2 2,396 DETACHD 1 to 3
13970 TAYLORS CREST LN 643490 4 2.1 3,371 DETACHD 11 to 2
5218 WESTFIELD CT 649900 4 2.1 3,125 DETACHD 1 to 4
18606 WESTVIEW DR 649900 3 2.5 2,783 DETACHD 12 to 3
18010 GIMLEY CT 685000 4 2.5 3,652 DETACHD 12 to 3
5245 LANGFORD LN 719000 3 2.1 2,957 DETACHD 2:30 to 4:30
17896 SW KELOK RD 974500 5 5 4,323 DETACHD 1 to 3:30
18024 SKYLAND CIR 1665000 4 3.2 4,131 DETACHD 1 to 3
2572 GLEN EAGLES PL 2395000 5 4.2 6,490 DETACHD 1 to 3

Have a great weekend!

Financial Returns on Remodeling

ImageChef.comI think this time of year is rather conducive to taking on remodeling projects. Spring cleaning is part of it, but timing is also important. If you aren’t headed out of town for spring break, you may be considering taking on some projects around the house. And if you are thinking that you are going to sell your home this year, you are certainly looking around and wondering what you need to do to get your house ready.

The National Association of Realtors publishes an annual report on cost vs. value. This year it was published in the January issue of Realtor Magazine. The report breaks down the results by regions of the country: after all labor and materials costs do vary depending upon location. Oregon is in the Pacific region of this report. I also want to point out that every project is going to have a range of value. A kitchen can be remodeled for a couple of hundred dollars with a can of paint and a weekend of your time. Or it can be remodeled for $100,000 with slab granite, sub-zero stainless refrigerator, and commercial quality appliances. This report is based upon “averages”. In the case of kitchens and baths, it also shows “upscale”.

Here is a look at the estimated current cost vs. the resale return on the money spent:

Job Cost Resale Value Cost Recouped
Additions
Attic Bedroom $60,135 $52,749 87.70%
Back-up Power Generator $16,351 $9,462 57.90%
Bathroom $47,052 $32,057 68.10%
Composite Deck $16,956 $13,922 82.10%
Wood Deck $12,838 $11,744 91.50%
Family Room $100,023 $73,551 73.50%
Garage $69,912 $51,882 74.20%
Master Suite $124,579 $90,616 72.70%
Sunroom $83,463 $45,245 54.20%
Two-Story $184,839 $143,073 77.40%
Upscale
Bathroom $88,000 $58,557 66.50%
Composite Deck $41,428 $29,687 71.70%
Garage $102,955 $68,334 66.40%
Master Suite $257,770 $164,278 63.70%
Remodeling
Basement $74,974 $68,648 91.60%
Bathroom $18,864 $14,517 77%
Home Office $31,479 $17,801 56.50%
Major Kitchen $63,803 $53,923 84.50%
Minor Kitchen $23,210 $21,991 94.80%
Upscale
Bathroom $59,456 $39,648 66.70%
Major Kitchen $120,379 $89,764 74.60%
Replacements
Entry Door $1,353 $1,732 128%
Roofing $24,712 $18,839 76.20%
Vinyl Siding $13,114 $10,674 81.40%
Vinyl Windows $12,760 $11,328 88.80%
Wood Windows $13,804 $12,175 88.20%

These figures are calculated by NAR and I do find myself wondering about some of them. For instance, the return on a roof is shown to be 76.2%, but I know from experience that a house that needs a new roof is very difficult to sell. So it will take longer and it will receive low offers because of the roof. So I personally think that replacing a roof is critical prior to selling in a way that goes beyond the simple return on the cost of the new roof. However, for the sake of comparison, using these figures it is easy to see that the return on a wood deck is 91% whereas the return on a composite deck is 82%. So if the deck is being replaced purely for the purpose of selling the home, it makes more sense to replace the deck with wood.

My final thought on all of this is that you will see that there is only one item that returns `100% of its cost: replacing the front door, which actually returns 128% of the cost. Everything else, even the items with the higher returns, do not return 100%. To me, this means that if you are going to do remodeling, additions, and improvements to your home, do them so that you can enjoy them. Do them now. Don’t put them off. The value of your remodeling is something that you will enjoy every single day that you live in your home. And that is a value that goes beyond anything you can calculate in dollars.

Let us know if you have any questions. Linda and I are always here to help.