There were 34 properties classified in RMLS as “New” on the market last week, but only 12 of them truly are, and are listed as such for you below. We had 14 properties go to “Pending” status, and 21 “Sold”!
Ah… the beauty of the Portland area in the Fall… just the time for a new start in a new home. Lake Oswego is so gorgeous once all the leaves begin to turn. With some rain last week, we are again back to sunshine and seasonably pleasant temperatures around 69/70. Nights are getting chilly though… and there is that beautiful smell in the air. So fresh. We’ll get pictures up here for you once the leaves turn. For now, enjoy your property search/sale adventures, & don’t forget to email or call Dianne or myself if you need a Realtor and are not currently working with one. We would love to meet you.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (Sept. 28—Oct.5, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# Beds
# Baths
Total SF
Prop Type
List Date
3433 MCNARY PKWY
$162,750
2
2.1
1,208
CONDO
10/2/2009
3826 BOTTICELLI ST
$210,000
2
2
1,055
ATTACHD
10/2/2009
18179 SW PILKINGTON RD
$299,900
3
2
1,300
DETACHD
10/2/2009
15430 PARTRIDGE DR
$379,000
3
2.1
2,207
DETACHD
10/3/2009
2245 GLEN HAVEN RD
$379,000
3
1.1
1,276
DETACHD
10/1/2009
980 C AVE
$399,500
3
2
1,312
DETACHD
9/30/2009
1457 BOCA RATAN DR
$445,000
3
2
1,568
DETACHD
9/28/2009
1430 CHERRY CREST DR
$525,000
4
3
3,302
DETACHD
10/2/2009
827 8TH ST
$898,000
5
3.1
3,852
DETACHD
9/29/2009
507 ASH ST
$988,000
3
3
3,000
DETACHD
9/28/2009
2479 PALISADES CREST DR
$1,495,000
4
3.1
6,640
DETACHD
9/28/2009
2201 HAZEL RD
$1,550,000
4
3.1
5,446
DETACHD
10/1/2009
PENDING SALES (Sept 28 -Oct. 5, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
7202 SW MONTAUK CIR
$99,000
2
1
968
CONDO
74
3433 MCNARY PKWY
$114,900
2
2.1
1,208
CONDO
142
4000 CARMAN DR
$125,900
1
1
767
CONDO
38
141 OSWEGO SMT
$169,900
2
2
1,140
CONDO
77
16573 BONAIRE AVE
$274,900
4
2
1,560
DETACHD
43
4662 CARMAN DR
$289,900
5
2
1,754
DETACHD
13
16250 Pacific Hwy (Hwy 43)
$319,850
2
2
1,200
CONDO
1200
5554 ROYAL OAKS DR
$399,885
3
2
1,861
DETACHD
2
2161 CREST DR
$407,500
4
2.1
2,648
DETACHD
139
1032 LAUREL ST
$424,000
4
2
2,384
DETACHD
86
14666 UPLANDS DR
$499,000
3
2.1
2,568
DETACHD
114
95 D AVE
$585,000
4
2
1,809
DETACHD
83
353 D AVE
$725,000
4
2
3,228
DETACHD
749
5250 DAWN AVE
$855,000
4
3.1
4,333
DETACHD
836
SOLD (Sept 28-Oct. 5, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
45 EAGLE CREST DR
$139,900
$110,000
1
1
768
CONDO
125
3688 SPRING LN
$179,900
$164,500
2
2
1,120
CONDO
81
4 TOUCHSTONE
$179,500
$170,000
2
2
984
CONDO
19
5064 FOOTHILLS DR
$299,900
$262,000
2
2
1,308
CONDO
63
1432 LAUREL ST
$275,000
$265,000
2
1
920
DETACHD
85
17100 BRYANT RD
$278,900
$310,000
3
3
2,032
DETACHD
18
605 COUNTRY CLUB RD
$399,900
$317,500
4
2.1
3,422
DETACHD
163
13899 MAJESTIC CT
$439,000
$360,000
3
2
2,357
DETACHD
86
17760 SW CARDINAL CT
$404,900
$375,000
3
2.1
2,147
DETACHD
60
17221 ROBB PL
$427,500
$380,000
3
2
1,812
DETACHD
12
14431 ORCHARD SPRINGS RD
$439,900
$385,000
4
2.1
1,960
DETACHD
212
3560 TEMPEST DR
$449,900
$437,875
3
2.1
2,847
DETACHD
14
4722 HASTINGS PL
$489,900
$479,000
4
2.1
2,151
DETACHD
505
6110 CHILDS RD
$550,000
$482,000
4
3
3,258
DETACHD
138
14412 MEADOW GRASS ST
$500,000
$490,000
4
2.1
3,563
DETACHD
412
17473 REDFERN AVE
$719,950
$575,000
4
2.1
3,052
DETACHD
105
5421 Bay Creek DR
$649,500
$580,000
4
2.1
3,241
DETACHD
138
17386 BLUE HERON RD
$679,000
$650,000
4
3.1
4,063
DETACHD
796
18051 KELOK RD
$899,000
$799,000
5
3.1
3,670
DETACHD
401
17878 HILLSIDE DR
$895,000
$855,000
5
3
3,462
DETACHD
34
301 IRON MOUNTAIN BLVD
$1,150,000
$950,000
4
3.2
3,004
DETACHD
125
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.
Gorgeous day today (Sat)… Gorgeous day tomorrow!
Is it Fall? Yes. Could there be a few raindrops in between the blinding sunshine? Yes! Is it fun to take in the change of season? Absolutely! (sorry for all the exclamations… against all my better judgement that says “winter is coming…” I really enjoy Fall : )
We have 29 properties on tour in Lake Oswego tomorrow according to RMLS. Get out & enjoy!
Tax Credit ~ The First-Time Home-Buyers’ $8,000. Tax Credit is, of course, the talk of the town (the nation, actually). It is acknowledged that it is and has been helpful in spurring the real estate market (activity in related price ranges is steady if not occasionally feverish… especially lately!) There is much talk about extending the deadline from the current November 30th date to an as-yet-undetermined date in 2010. While it is generally agreed that the housing market is turning the corner, and a large part of this growth is related to the tax credit, there is also concern being expressed about dispersing more government money in light of recent history. So… nothing is decided as of now. There are talks about plans to:
Extend it to all home-buyers,
Not extend it at all,
Increase it to $15,000.,
Extend it and keep the terms the same,
Offer it only to service members who have been out of the country,
Etc.
The important thing to remember if you are a first-time home-buyer, or care about one, is that right now there is an opportunity to get an $8,000. tax credit. That means real money coming to you when you file for 2009. We do NOT know how the debate will play out regarding extending or not extending it… AND right now there is still time to take advantage of it, but you must act now.
Oil Tanks (Reminder & Update) ~ The standards for levels of contaminants are under review. In particular, ethyl benzene and naphthalene have been changed to a “carcinogenic” classification, and therefore cleanup requirements are also changing. There is now concern over the possibility of fumes potentially penetrating a home from underground & causing harm. Remember, if you have an oil tank underground on your property that has not been decommissioned, or if you are a Buyer considering a property with one: Underground oil tanks have a life of approximately 40 years. After that, they leak… and what they leak is toxic. Homeowners can be held liable for damage to soil from leaking tanks, and therefore, proper soil testing and decommissioning through a DEQ-certified environmental service is the wise choice. If you are a Seller in this situation, I would highly recommend just doing this now and getting it out of the way. It makes your home more attractive to potential Buyers, removes an objection, and protects you and the environment at the same time.
Loans ~ There are truly all kinds of loans out there right now for all kinds of Buyers. FHA loans are a current favorite, and the FHA 203 (b) is a little easier to qualify for than most conventional loans these days. There are also “Flex” loans for teachers (administrators & school nurses can also apply!), police, and firefighters. Other than the FHA loan I mentioned, you usually want a credit score of 640 or higher, and for all of them you’ll need 3 to 3.5% down. Talk to your favorite mortgage broker for more information, or give me a call and I can refer you to some great resources.
Homes on Slopes ~ Some precautions, in light of current information gained from recent slides in Portland, Lake Oswego and surrounding areas are worth noting:
At no point should drain water be discharged onto slopes in an uncontrolled manner. Investigate energy dissipation devices to prevent erosion at discharge points.
Make sure that any fill used on the slope is “engineer-fill”. Not all fill is able to handle the specialized drainage requirements of sloped properties.
Make sure gutters remain clear in order to prevent over-saturation in areas not able to handle runoff.
Keep drainage ditches or berms clear during the rainy season so that they do not direct water into areas where erosion & damage may occur.
Keep drain inlets, outlets and weep holes at foundation, retaining walls, driveways etc clean at all times. Remove debris to prevent clogging.
Notice any wet spots on the property. This may indicate either natural seepage, or leaking water or sewer line problems. Seek professional advice immediately.
Regularly check irrigation systems. Drip systems are preferred on hillsides.
Make sure roof drainage is not connected to a subsurface disposal system unless it has been approved by a geotechnical engineer.
Keep water from accumulating next to foundations, retaining walls or basements.
Guard against over-saturation on the hillside, as once this has occurred, damage can result very quickly and without warning.
It’s really interesting… tis the season for “freshening” listings I guess… There were 28 properties listed as New this last week & only 13 of them actually were. It bears noting that Dianne and I go through the properties and remove the ones that are not actually new listings so that our readers can really see what properties have just come on market. I personally make an exception for properties that have been off the market for 30 or more days… It seems to me as though if someone has taken their property off the market for that time, they have probably been working on the property & changing something about it, so I go ahead in those cases & list them as New again. I also noticed that many of the “freshened” listings (not in the table below) have changed Realtors. Although it is then technically a new listing, it is not a new property on the market for our readers’ purposes. It is worth noting that the property is what Buyers are looking for… not the Realtor, and if it is listed in the RMLS and the Realtor has been doing a good job of exposing it online, following up on showings etc., it is (in my opinion) a mistaken notion that switching Realtors is going to help sell the property. It is more likely that the things the Seller has control over, i.e. price and the appearance of the property, will make the difference. The listing that was on the market yesterday with one Realtor and back on today with another is pretty much the same property, and Buyers know that. Just a few musings for what they’re worth : )
Last week we saw, as mentioned, 13 New properties come on market. 16 went to Pending status, and 5 Sold.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (Sept. 14—20, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# Beds
# Baths
Total SF
Prop Type
List Date
12 CERVANTES CIR
$105,000
2
1.1
912
CONDO
9/15/2009
668 MCVEY AVE
$239,900
3
1.1
985
CONDO
9/17/2009
136 TOUCHSTONE TER
$350,000
3
2.1
1,996
DETACHD
9/17/2009
114 TOUCHSTONE TER
$389,000
3
2.1
2,080
ATTACHD
9/14/2009
15547 PARTRIDGE DR
$389,900
3
3
2,266
DETACHD
9/14/2009
16901 LAKERIDGE DR
$435,000
3
3
2,080
DETACHD
9/17/2009
5717 BONITA RD
$439,000
5
2
2,572
DETACHD
9/18/2009
4311 ORCHARD WAY
$564,900
4
2.1
3,082
DETACHD
9/14/2009
19101 INDIAN CREEK AVE
$619,500
2
2.1
2,794
DETACHD
9/15/2009
1809 HEADLEE LN
$1,125,000
2
2.1
3,836
DETACHD
9/14/2009
753 LAKESHORE RD
$1,385,000
3
3.1
2,562
DETACHD
9/16/2009
13 NANSEN SMT
$1,500,000
4
4.1
4,625
DETACHD
9/19/2009
17281 KELOK RD
$1,550,000
4
3
2,682
DETACHD
9/18/2009
PENDING SALES (Sept 14 -20, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
10 CONDOLEA DR
$240,000
2
2
1,312
ATTACHD
398
19138 PILKINGTON deep flag RD
254500 – 259000
3
1.1
1,099
DETACHD
133
5 PEACOCK PL
$299,950
4
2.1
1,760
DETACHD
169
16964 SW GASSNER LN
$335,000
3
3
2,208
DETACHD
100
5037 CENTERWOOD ST
$349,000
3
1.1
1,340
DETACHD
98
19 TOUCHSTONE
$399,000
4
3
2,789
DETACHD
107
31 DA VINCI ST
$399,900
4
2.1
2,232
DETACHD
34
41 HILLSHIRE DR
$427,000
4
3
2,670
DETACHD
437
3 CELLINI CT
$429,000
4
2.1
2,531
DETACHD
240
1660 CAMPUS WAY
$475,000
4
3
2,042
DETACHD
4
2330 DELLWOOD DR
$495,000
5
3.1
3,468
DETACHD
4
4691 CHELSEA LN
$564,900
4
2.1
3,102
DETACHD
585
559 2ND ST
$600,000
2
2
1,529
CONDO
7 CELLINI CT
$659,000
5
3.1
3,560
DETACHD
10
570 7TH ST
$665,000
3
2.1
2,528
DETACHD
265
2600 DELLWOOD DR
$699,900
4
3
3,690
DETACHD
486
SOLD (Sept 14-20, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
5318 RED LEAF ST
$309,950
$319,950
3
2
1,460
DETACHD
27
799 COUNTRY CLUB RD
$700,000
$500,000
6
2.1
4,410
DETACHD
784
4387 LORDS LN
$875,000
$650,000
3
2.1
3,040
DETACHD
544
1933 SUMMIT DR
$1,675,000
$1,550,000
5
4.1
4,925
DETACHD
26
4313 WESTBAY RD
$2,775,000
$2,100,000
4
3.1
4,000
DETACHD
193
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.
This Sunday we have 15 Open Houses in Lake Oswego according to RMLS. Two of them are under $300,000. if that interests any of you first time home buyers out to find a great home & meet the $8,000. tax credit timeline. As always, give Dianne or me a call if you need some assistance & are not already working with a Realtor. Enjoy!
You know, Dianne and I talk about this a lot, but I think it bears mentioning at this crucial moment when we have so little time before the $8,000. tax credit incentive has timed out (it expires on December 1st… that means that any transaction where there is the intention of taking advantage of this needs to close by November 30th). What is it that Dianne and I harp on so often that comes into play here? I’ll tell you- it’s “affordable homes in Lake Oswego”. You know, the kind that many first time home buyers would be interested in… homes under, let’s say, $350,000… Homes in a great school district, in a community where all types of individuals tend to participate and make their voices heard, where there are farmers markets, art festivals, music in the park, great shops & services, where families are valued and supported with programs and activities specific to those needs… and on & on. Here is a link to the city’s website if you’d like to find out more: http://www.ci.oswego.or.us/
I think that Lake Oswego, as Dianne has pointed out time & time again, is sometimes overlooked by first-time home buyers due to a perception that they just would not be able to afford a home in L.O. Now… each individual circumstance is of course different, but if you can qualify for any number of the great lender programs that I know are out there now, and are looking for a home under $350,000., according to RMLS there happen to be at this moment, today, 53 Detached Homes available in Lake Oswego… and the bottom end is $199,000. In addition, there are 129 Condos & Townhomes available right now under $350,000… and the bottom end there is at $89,800.
If this is sparking some thinking on your part about looking into this idea for yourself, or someone you know, please do not wait to get going. Talk to your Realtor, or give Dianne or myself a call *today* if you are not already working with a Realtor. This is not me pushing here, I am talking about the chance of a lifetime in prices, rates, and this $8,000. tax credit, and this is the moment. Here are a few reasons why:
Now, more than ever, it is important to have a good understanding of the timelines involved in purchasing a home… especially if you want to take advantage of the first-time home buyer tax credit: Fact: The average timeline from when you find a property until it closes is 30-45 days. Fact: You will need some time to find the property that you wish to buy. (Some buyers find their home right away, and some need more time.) Fact: The week before November 30th is Thanksgiving! Many banks and title companies are traditionally closed for the last 3 days of that week. Fact: November 30th is the Monday following the typical 3 day bank shutdowns. Fact: There will surely be many, many buyers who will wait until the last minute to start looking for homes. This means that November 30th is sure to be an extremely busy day and many banks and title companies will not be equipped to handle all of the expected volume. Fact: As more buyers start to frantically hit the market to take advantage of the tax credit, the selection of properties is sure to decrease. Fact: Waiting too long is a gamble you should not take if you are truly interested. The best strategy is to work with a professional who has a great team and can develop a plan with you to hit the deadline.
Ok, I’ll get off my soapbox now : ) I’ve at least done my part in getting the word out.
Happy house-hunting! Please feel free to give me or Dianne a call if you’d like to get going. We are really enjoying working with as many of you as possible to ensure that you get to take advantage of this great opportunity.
Last week brought us 21 new listings, 8 pending sales, and 10 closed sales. Please let Linda or I know if you would like any further information about any of these houses. It is both easy and no trouble to send you information. We are here to be of help.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (September 7—September 13, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
100 KERR PKWY
$99,990
1
1
775
CONDO
9/11/2009
4 TOUCHSTONE
$119,900
2
2
984
CONDO
9/9/2009
1547 BOCA RATAN DR
$219,900
2
1.1
1,008
ATTACHD
9/9/2009
16250 PACIFIC HWY
$229,900
3
2
1,626
CONDO
9/8/2009
15 BLOCH TER
$294,900
3
2.1
1,973
ATTACHD
9/10/2009
6015 FERNBROOK CIR
$324,900
3
1.1
1,250
DETACHD
9/10/2009
1723 CONIFER DR
$324,950
3
2
1,602
DETACHD
9/10/2009
15930 WALUGA DR
$329,000
3
1.1
1,040
DETACHD
9/10/2009
17752 SCHALIT WAY
329900
3
2
1,463
DETACHD
9/9/2009
15 ORIOLE LN
345000
2
2
1,470
DETACHD
9/13/2009
1255 BAYBERRY RD
390000
3
2
1,901
DETACHD
9/8/2009
18 ABELARD ST
462000
4
3
2,101
DETACHD
9/11/2009
7 CELLINI CT
659000
5
3.1
3,560
DETACHD
9/10/2009
371 6TH ST
699900
3
3.1
2,258
ATTACHD
9/13/2009
2630 RIVENDELL RD
769900
4
3.1
4,611
DETACHD
9/9/2009
2235 GLEN HAVEN RD
779000
5
2
2,778
DETACHD
9/12/2009
1708 VILLAGE PARK LN
899000
4
2.1
3,211
DETACHD
9/11/2009
2757 LAKEVIEW BLVD
960000
4
3
3,321
DETACHD
9/9/2009
507 ASH ST
988000
2
3
2,700
DETACHD
9/8/2009
19575 35TH CT
1495000 – 1575000
4
3
6,081
DETACHD
9/10/2009
961 TERRACE DR
3495000
4
4.2
5,795
DETACHD
9/7/2009
PENDING SALES (September 7 -September 13, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
CDOM
3688 SPRING LN
$164,500
2
2
1,120
CONDO
6/19/2009
81
166 OSWEGO SMT
$210,000
2
2
1,506
CONDO
3/13/2009
180
839 F AVE
$325,000
3
1
1,516
DETACHD
4/17/2009
147
891 G AVE
$419,000
5
2.1
2,420
DETACHD
6/11/2009
88
5044 GREENSBOROUGH CT
$449,000
3
2.1
2,124
DETACHD
7/25/2009
49
1670 VILLAGE PARK LN
$779,000
4
2.1
3,466
DETACHD
7/17/2009
53
2304 OSWEGO GLEN CT
$850,000
4
2.1
3,896
DETACHD
8/15/2009
247
17960 SARAH HILL LN
$1,079,000
5
3.1
4,800
DETACHD
4/1/2009
163
SOLD (September 7-September 13, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# BR
# BTHS
Total SF
Prop Type
CDOM
1057 C AVE
$295,000
$250,000
2
1
1,048
DETACHD
81
800 WOODWAY CT
$339,000
$322,000
4
3
2,066
DETACHD
107
13024 ROGERS RD
$389,900
$327,000
4
1
1,826
DETACHD
83
6 NORTHVIEW CT
$525,000
$450,000
4
3.1
3,188
ATTACHD
115
13500 TWIN CREEK LN
$572,500
$517,500
4
2.1
3,049
DETACHD
77
5831 SUNCREEK DR
$685,000
$620,000
4
2.1
2,733
DETACHD
27
4305 UPPER DR
$749,000
$700,000
4
2.1
3,474
DETACHD
78
14135 EDENBERRY DR
$799,900
$744,000
4
2.1
3,174
DETACHD
98
3270 LAKEVIEW BLVD
1399000
1125000
3
3
3,295
DETACHD
147
13770 CAMEO CT
2298000
1700000
4
5.1
6,669
DETACHD
198
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.
The open house, a long standing tradition for marketing and selling a home, or a total waste of time? It’s actually a pretty controversial subject among Realtors. Some believe in them and others refuse to do them. I fall into the first category. I hold open a house pretty much every Sunday and some Sundays I will do a couple of open houses. I make a commitment to people who list their homes with me that I will promise one advertised open per month, at a minimum. I will do more if my time allows. This commitment keeps me pretty busy. It means that I do LOTS of open houses. And that is probably why I think that they work.
I would estimate that I sell one house per year that is directly a result of my open house efforts. In June I had an offer written by another Realtor after her clients found my listing at an open house. That open house was how I sold my listing. Last Sunday I had an open house and I am now in very strong verbal discussions with another Realtor, again because his buyer came through my open.
Please note that I said that I do “Advertised” opens. Sure, I like meeting the neighbors, but I want people coming through who already know the price, how many bedrooms there are, and are actually buyers who are wanting a new home. I think advertising is one reason that my opens are successful. While I used to do a newspaper ad with each open, I have shifted my marketing to the Internet. I advertise my open houses on Craigslist, on the RMLS, and when the house is in Lake Oswego, on the propertyblotter.
Let’ s put it this way. If I didn’t believe in open houses, I’d never do them, right? And then it is a no brainer that I could honestly say that they don’t work. How can something work that is never tried?
I also feel that in this economy, Realtors have to go back to basics. In a hot market, where homes are selling quickly, homes will sell with just some simple Internet exposure in the RMLS. In a slow market that is not enough. There are so many houses for sale, and so few buyers, that just being a part of the inventory is not enough. A Realtor has to use every possible tool to get exposure for a proprety. I owe it to my clients to work on their behalf and use all of the tools in my arsenal. And, as I have stated above, I know from experience that open houses work.
Well, the school year has officially started, and we’re all back from our Labor Day festivities. From the look of things, real estate is still moving right along with 21 Pending sales this past week in Lake Oswego. We had 12 New properties come on market, and just 5 get to Sold status.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (August 31—Sept. 6, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# Beds
# Baths
Total SF
Prop Type
List Date
370 CERVANTES CIR
$130,000
2
1
832
CONDO
8/31/2009
5051 FOOTHILLS DR
$210,000
2
2
991
CONDO
8/31/2009
29 ORIOLE LN
$299,990
3
2.1
1,644
DETACHD
9/4/2009
15139 Tree RD
$315,000
3
2
1,328
DETACHD
8/31/2009
15112 QUARRY RD
$325,000
4
2
1,968
DETACHD
9/4/2009
1625 CLOVERLEAF RD
$364,900
3
2
1,996
DETACHD
9/3/2009
4774 OAKRIDGE RD
$374,000
3
1
2,104
DETACHD
9/2/2009
5460 BAY CREEK DR
$429,900
3
2.1
2,358
DETACHD
9/1/2009
19026 INDIAN SPRINGS RD
435000
5
3
2,971
DETACHD
8/31/2009
1025 C AVE
499500
3
2
2,261
DETACHD
9/2/2009
18842 BRYANT RD
850000
4
2.2
3,528
DETACHD
9/2/2009
1633 MAPLE ST
894950
3
3
3,405
DETACHD
9/4/2009
PENDING SALES (August 31 -Sept 6, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
7202 SW MONTAUK CIR
$109,900
2
1
968
CONDO
43
15938 QUARRY RD
$129,900
2
1
991
CONDO
62
45 CRESTFIELD CT
$138,900
2
1
923
CONDO
63
15868 PARKER RD
$169,900
2
1
780
DETACHD
168
4 TOUCHSTONE
$179,500
2
2
984
CONDO
19
668 MCVEY AVE
$179,850
2
1.1
976
CONDO
1022
1432 LAUREL ST
$269,500
2
1
920
DETACHD
85
3290 WEMBLEY PARK RD
$278,910
5
3
2,614
DETACHD
29
6310 CARMAN DR
349900
3
2.2
1,270
DETACHD
86
14141 GOODALL RD
359900
3
2.1
1,754
DETACHD
91
2851 PARK RD
399000
4
2.1
2,674
DETACHD
137
126 CONDOLEA DR
449000
3
3
2,664
CONDO
680
13342 AUBURN CT
475000
3
2.1
2,389
ATTACHD
75
1921 GLENMORRIE LN
499000
3
3
2,395
DETACHD
49
2925 ORCHARD HILL PL
499900
3
2.1
2,418
DETACHD
148
13176 SANDALWOOD CT
589000
4
2.1
2,982
DETACHD
306
5421 Bay Creek DR
599000
4
2.1
3,241
DETACHD
138
799 COUNTRY CLUB RD
600000
6
2.1
4,410
DETACHD
784
17878 HILLSIDE DR
895000
5
3
3,462
DETACHD
34
17211 KELOK RD
1399000
3
3.1
5,384
DETACHD
91
16737 MAPLE CIR
1400000
3
3
1,683
DETACHD
144
SOLD (August 31-Sept. 6, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
1889 BOCA RATAN DR
$229,900
$230,000
3
2
1,393
ATTACHD
7
3355 UPPER DR
$470,000
$440,000
4
2
3,205
DETACHD
23
181 3RD ST
$739,000
$635,000
2
2
1,523
CONDO
196
22 INDEPENDENCE AVE
$724,000
$675,500
7
4.1
4,066
DETACHD
26
511 6TH ST
$988,000
$825,000
5
3.1
4,000
DETACHD
146
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.
Rainy Sunday on Labor Day Weekend… hmmm… There ARE a few houses to enjoy on tour today however, and it looks like a nice grouping. Here are the Lake Oswego houses being held Open according to RMLS:
You know, Dianne and I talk about this a lot, but I think it bears mentioning at this crucial moment when we have so little time before the $8,000. tax credit incentive has timed out (it expires on December 1st… that means that any transaction where there is the intention of taking advantage of this needs to close by November 30th). What is it that Dianne and I harp on so often that comes into play here? I’ll tell you- it’s “affordable homes in Lake Oswego”. You know, the kind that many first time home buyers would be interested in… homes under, let’s say, $350,000… Homes in a great school district, in a community where all types of individuals tend to participate and make their voices heard, where there are farmers markets, art festivals, music in the park, great shops & services, where families are valued and supported with programs and activities specific to those needs… and on & on. Here is a link to the city’s website if you’d like to find out more: http://www.ci.oswego.or.us/
The open house, a long standing tradition for marketing and selling a home, or a total waste of time? It’s actually a pretty controversial subject among Realtors. Some believe in them and others refuse to do them. I fall into the first category. I hold open a house pretty much every Sunday and some Sundays I will do a couple of open houses. I make a commitment to people who list their homes with me that I will promise one advertised open per month, at a minimum. I will do more if my time allows. This commitment keeps me pretty busy. It means that I do LOTS of open houses. And that is probably why I think that they work.