Market Activity Dec 10-16, 2012

It’s beginning to feel a lot like the holidays with a dusting of snow on the ground this morning and just 6 new listing coming on the market last week. There are buyers out there though with 10 houses that received accepted offers last week, and 12 closed sales. I would expect an increase in closed sales this week as people try to move in with time to hang the tinsel and to put up the tree.

See below for further details on last week’s Market Activity:

NEWLY LISTED (Dec 10-16, 2012)

Address Type Price BR Bths SF
44 Eagle Crest Dr #18 Condo $128,000 3 2 1085
342 Livingood Ln Detached $439,000 4 2.5 2384
539 2nd ST #108 Condo $469,000 2 2 1339
4052 Orchard Dr Detached $688,500 4 3.5 4081
1759 Bay View Ln Detached $735,000 4 3 4665
17468 Kelok Rd Detached $975,000 3 2.5 2675

PENDING SALES (Dec 10-16,2012 2012)

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Address Type Price BR Baths SF DOM
4620 Lower Dr Condo $75,000 2 1.5 1160 10
4 Touchstone #116 Condo $150,000 3 2.5 1351 67
3980 Carman Dr Condo $159,900 3 2.5 1107 50
3101 McNary Pdwy #10 Attached $199,500 3 2.5 1986 53
5499 Royal Oaks Dr Detached $392,500 3 2 1780 110
300 Brookside Rd Detached $598,000 3 2.5 1600 179
543 2nd ST #204 Condo $699,000 2 2 1816 111
454 9th St Detached $879,000 3 4 2978 73
1560 Country Commons Detached $949,000 4 3.5 4379 91
18402 Old River Landing Detached $1,695,000 4 4.5 4547 504

SOLD (Dec 10-16,2012)

Address Type List Price Closed Price Sq Ft CDOM
13150 Riverside Dr Detached $375,000 $392,200 2242 4
4 Icarus Loop Detached $409,900 $395,000 2743 111
14361 Sherbrook Pl Detached $419,900 $419,900 2100 152
17764 Kelok Rd Detached $488,900 $465,000 2742 152
17357 Oak Meadow Ln Detached $535,000 $479,000 3247 160
9 Preakness Ct Detached $588,500 $547,500 3,750 $91
13366 Boones Ferry Ln Detached $649,950 $550,000 3564 183
17087 Tualatin St Detached $564,950 $564,950 2622 11
16791 Sylvan Ct Detached $699,000 $635,000 4315 7
16655 Woodsman Ct Detached $674,900 $635,000 4131 99
569 6th St Detached $798,335 $798,335 2595 0
1644 Lake Front Rd Detached $999,900 $927,500 3840 301

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 fo rDec 16, 2012

Sunday is going to be a great day to get out and see some houses. There are currently 13 homes scheduled to be held open.

Address Type Price BR Baths Open
6450 Frost St Detached $347,500 3 2.5 12 to 5
6474 Frost St Detached $347,500 3 2.5 12 to 5
1429 Greentree Circle Detached $459,500 4 2.5 1 to 3
17702 Overlook Circle Detached $465,900 5 2.5 1 to 3
539 2nd St #108 Condo $469,000 2 2 1 to 3
15655 Fieldstone Dr Detached $589,500 4 2.5 2 to 4
5533 Fieldstone Ct Detached $599,500 4 2.5 2 to 4
18096 Pilkington Rd Detached $599,900 3 2.5 1 to 3
1579 Bay View Ln Detached $735,000 4 3 1 to 3
1255 Andrews Rd Detached $799,000 6 4 1 to 3
831 Northshore Rd Detached $800,000 3 2.5 12 to 3
17469 Kelok Rd Detached $975,000 3 2.5 1 to 3
18137 Meadowlark Ln Detached $1,350,000 4 4.5 11:30 to 1:30

A Season of Giving

SantaYou can help to make the season a little brighter for those who are less fortunate by participating in a couple of different programs being offered here in Lake Oswego.

270,000 people per month eat meals from emergency food boxes provided by the Oregon Food Bank. Of those, 92,000 are children. Your donations are important, and needed. The City of Lake Oswego is accepting non-perishable food now through December 28th at City Hall, 380 A Avenue.

In addition, the Lake Oswego Fire Department and Library are conducting a Christmas Toy Drive. Drop off new, unwrapped toys at the Main Fire Station (300 B Avenue) or the Lake Oswego Library (706 4th Street) between now and 12pm on December 21st.

With a little effort, we can all make the season brighter.

NEWLY LISTED (Dec 3-9, 2012)

Address List Price # Beds # Baths Total SF Prop Type
4620 LOWER DR $75,000 2 1.1 1160 CONDO
50 GREENRIDGE CT $280,000 3 2.1 2000 CONDO
19176 BENFIELD AVE $299,000 4 2 1538 DETACHD
1659 OAK ST $399,900 3 2.1 1764 DETACHD
17702 OVERLOOK CIR $465,900 5 2.1 3490 DETACHD
13517 SNOWBERRY CT $659,000 4 2.1 3300 DETACHD
642 8TH ST $975,000 4 2.2 3653 DETACHD
16655 MAPLE CIR $999,000 3 2 2030 DETACHD
3690 LAKEVIEW BLVD $3,950,000 5 5.1 6366 DETACHD

PENDING SALES (Dec 3-9,2012 2012)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4000 CARMAN DR #21 $94,500 2 2 885 CONDO 42
34 CERVANTES CIR #4F $119,500 2 1.1 912 CONDO 21
4310 BOTTICELLI ST $164,900 2 2.1 2098 CONDO 62
1237 HALLINAN CIR $269,900 4 2 1284 DETACHD 4
18892 INDIAN SPRINGS CIR $305,000 3 2 1611 DETACHD 127
1610 ASH ST $375,000 3 2 2181 DETACHD 48
17121 WALL ST $419,900 3 2.1 2187 DETACHD 102
530 BOCA RATAN DR $429,900 4 3 3368 DETACHD 90
15225 CANDLEWOOD CT $449,900 4 2.1 2758 DETACHD 239
444 10TH ST $549,000 4 2 1876 DETACHD 88
567 2nd ST #302 $555,000 2 2 1459 CONDO 20
2420 PALISADES CREST DR $599,000 4 2.1 3471 DETACHD 188
837 6TH ST $735,000 4 2.1 2420 DETACHD 7
1655 EDGECLIFF TER $1,175,000 4 3.1 3416 DETACHD 182

SOLD (Dec 3-9,2012)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
18409 BENFIELD AVE $262,500 $224,000 3 1.1 1400 DETACHD 56
5134 TREE ST $250,000 $250,000 3 1.1 1405 DETACHD 44
17423 OAK MEADOW LN $499,900 $400,000 3 2.1 3125 DETACHD 141
6 DA VINCI ST $479,900 $408,000 4 2.1 3378 DETACHD 42
17561 SHEPHERDS CT $600,000 $525,000 4 2.1 3011 DETACHD 135
2888 VALE CT $545,888 $535,000 5 3 4396 DETACHD 124
13548 STREAMSIDE DR $599,900 $570,000 5 3 3336 DETACHD 57
13554 SOUTHWOOD CT $609,900 $611,000 3 2.1 2891 DETACHD 3
852 B AVE $649,000 $620,000 4 2 2368 DETACHD 22
2092 SUMMIT DR $1,295,000 $1,295,000 4 4.1 4441 DETACHD 289

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 ~ Dec. 9, 2012

There are 13 great homes on “Sunday Tour” for your enjoyment according to RMLS.
Get in the holiday spirit and have an adventure!

Address L/Price # Beds # Baths Total SF Style Time
4231 WOODSIDE CIR $274,500 3 2 1943 TOWNHSE 1-3PM
16909 TRACY AVE $279,950 4 2 1499 DETACHD 11-3PM
3190 DUNCAN DR $324,900 3 2.1 2401 DETACHD 1-3PM
17002 CRESTVIEW DR $395,000 3 2.1 2163 DETACHD 1-3PM
979 DEVON LN $397,000 4 3.1 2162 DETACHD 1-4PM
1670 FIRCREST DR $425,000 4 3 2000 DETACHD 1-3PM
15495 TANAGER DR $429,000 4 2.1 2255 DETACHD 1-3PM
1429 GREENTREE CIR $459,500 4 2.1 2599 DETACHD 1-3PM
15655 FIELDSTONE DR $589,500 4 2.1 2750 DETACHD 1-3PM
18096 Pilkington RD $599,900 3 2.1 3182 DETACHD 1-3PM
720 MAPLE ST $689,000 3 2.1 3966 DETACHD 1-3PM
4767 DOGWOOD DR $699,999 4 2.1 3964 DETACHD 2-4PM
329 10TH ST $950,000 4 2.1 3647 DETACHD 1-3PM

News & Notes

October 2012
Here are some Market Notes for You~

You’ve probably heard that market activity all around Portland is picking up, and Dianne and I are certainly experiencing it. Here is some recent data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:

According to the RMLS Market Action Report for the Portland Metro Area October, 2012. “At 2,103, closed sales were 42.7% higher than October 2011 sales of 1,474, and 11% higher than closed sales in Sept. 2012.

  • “This was the best October since 2006 for Pending and Closed sales.”
  • The average sale price year-to-date ($273,400) rose 3.7% over the same period last year,
  • ***AND… Total time on the market has dropped by 21% from 144 to 102 days.

For our Property Blotter readers, the combined area of Lake Oswego and West Linn reported:

  • 604 Active Listings
  • 167 New Listings
  • 120 Pending Sales
  • 135 Closed Sales
  • An average Sale Price of $475,600.
  • Average Time on the Market: 108 Days

Market Activity 11/26-12/2/12

Last week there were 9 New on the market, 11 Pending and 19 Sold:

See below for further details on last week’s Market Activity:

NEWLY LISTED (Nov 26-Dec 2, 2012)

Address Type Price BR Bths SF
5059 Foothills Dr F Condo $165,000 2 2 997
1237 Hallinan Circle Detached $269,900 4 2 1284
1288 Rockinghorse Ln Detached $382,500 3 2 1742
17002 Crestview Dr Detached $395,000 3 2.5 2163
4102 Chad Dr Detached $672,000 4 2.5 3054
837 6th St Detached $735,000 4 2.5 2420
13070 Fielding Rd Detached $1,295,000 2 1 828
18137 Meadowlark Ln Detached $1,350,000 4 4.5 5935
17900 Crestline Dr Detached $1,699,000 5 3.5 4738

PENDING SALES (Nov 26- Dec 2,2012 2012)

Address Type Price BR Baths SF DOM
4450 Thunder Vista Ln Condo $145,000 2 2.5 2040 148
3787 Lanewood St Detached $245,000 3 2 1300 214
4270 Oakridge Rd Detached $275,000 2 1 978 143
36 Nova Ct Detached $360,000 4 2.5 2256 20
2550 Greentree Rd Detached $404,900 4 3 2852 50
3838 Rivers Edge Dr Detached $498,900 4 2.5 2806 57
5193 Denton Dr Detached $635,000 4 2.5 3076 114
1 Dover Way Detached $799,000 4 3 3559 32
8 Dover Way Detached $975,000 6 4.5+.5 6244 89
18202 Bella Terra Dr Detached $994,900 4 3.5 3863 454
2092 Summit Dr Detached $1,295,000 4 4.5 4441 289

SOLD (Nov 26- Dec 2,2012)

Address Type List Price Closed Price Sq Ft CDOM
350 Cervantes Circle 1-E Condo $114,500 $105,000 912 24
4000 Carman Dr #107 Condo $159,900 $110,000 1032 229
167 Oswego Summit Condo $147,000 $147,000 1506 $15
5225 Jean Rd #313 Condo $159,900 $153,500 1200 10
213 Oswego Summit #213 Condo $185,000 $160,000 1383 105
18350 Tualata Ave Detached $234,900 $200,000 996 70
18055 Central Ave Detached $191,565 $248,100 1202 10
4765 Firwood Rd Detached $300,000 $283,000 1728 51
12510 SW 27th Pl Detached $349,900 $325,000 2484 168
1690 Fircrest Ct Detached $429,900 $405,000 2718 48
18140 Pioneer Ct Detached $430,000 $415,000 2537 167
29 Spinosa Detached $549,999 $475,000 3254 789
5677 Bonita Rd Detached $600,000 $500,000 3603 265
19313 Riverwood Ln 2west Detached $620,201 $620,201 3367 0
1918 Indian Trail Detached $695,000 $650,000 3090 215
1799 Atherton Dr Detached $699,900 $725,000 6280 18
17680 Blue Heron Dr Detached $800,000 $725,000 3070 85
750 Terrace Dr Detached $899,000 $850,000 3569 106
2805 Southshore Blvd Detached $899,000 $855,000 2619 106

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

LO Open Houses for 12/2/12

Eleven houses are currently scheduled to be held open this Sunday. Enjoy!

Address Type Price BR Baths Open
668 McVey Ave #44 Attached $104,900 1 1 2 to 4
4231 Woodside Circle Attached $274,500 3 2 1 to 3
16909 Tracy Ave Detached $279,950 4 2 1 to 3
5324 Lower Dr Detached $345,000 3 2.5 2 to 4
17970 Saint Clair Dr Detached $449,000 4 3 1 to 4
1429 Greentree Circle Detached $459,500 4 2.5 1 to 3
4890 Sage Hen Circle Detached $499,900 4 2.5 1 to 3
17802 Treetop Ln Detached $529,000 4 3.5 2 to 4
18096 Pilkington Rd Detached $625,000 3 2.5 1 to 3
1015 Southshore Blvd Detached $638,500 4 3 2 to 4
135 Middlecrest Rd Detached $699,900 3 2.5 1 to 3

Formaldehyde

Over the years the ability of a buyer to do a thorough home inspection has vastly improved. Today I regularly recommend that along with a full house inspection, buyers also pay for a sewer scope (sending a camera down the sewer line to inspect for breaks and tree roots) and radon testing (we find it about 30% of the time). Now a new issue has come onto my radar: formaldehyde.

To be honest with you, before writing this post, I did not have a clue what it is. And, also being honest with you, I’m not sure that I completely understand it now. But I do know that it feels like the sort of issue that will become something that I need to have knowledge about so that I can discuss it with the buyers that I represent. So I am working to learn what I can. It’s pretty interesting stuff.

Formaldehyde exists naturally in our environment. It is made up of carbon, hydrogen, and oxygen. So, just like radon, we are all breathing it as we go through our day.

It is also man made. It is widely used in the manufacturing of so many products that to try to list them here would be unrealistic. To get a grasp of the magnitude of how much of it is used, consider that in 2003 it accounted for $145 billion in our economy, or 1.2% of our GDP. It is widely used in the products that are commonly used in the construction of houses. It is found in glues that are used to install carpets. It’s found in paint. It is a primary component of plywood, particle board, and fiber board.

It is measured in ppm (parts per million). Apparently it has a distinct odor that can begin to be smelled at .05 ppm. At .10 ppm it will begin to irritate your eyes and throat. While I did not find anyone making the firm claim that it is a carcinogen, I did find several sources, including the EPA dating back to 1987, calling it a “probable” carcinogen. It seems pretty clear that it’s not a good thing to be breathing this stuff for long periods of time or in heavy doses.

So what can you do?

First, an interesting tidbit. The products in construction of a home give off more Formaldehyde when the home is brand new. An EPA study found that a brand new house gives off .076 ppm on day one. But by day 30 that amount drops to .045 ppm. Also, heat and humidity contribute to the “off gassing” of formaldehyde. For every 10 degrees of temperature increase, the formaldehyde “off gassing” doubles. So perhaps moving into a new home after 30 days, and then keeping the house cool in the summer and not too overly heated in the winter, would be something to take into consideration.

You can also find a builder who uses “exterior grade” pressed wood products that are made with phenol instead of urea resin. It would also make sense, if you can afford it, to splurge on cabinets and flooring made with real wood.

Some good news is that our Federal government passed a law July 7, 2010 that requires that the use of formaldehyde in plywood, particle board and fiberboard not have emissions greater than .09 ppm. This law goes into affect January 1, 2013.

So how do you know if formaldehyde is a problem? Like I said, this issue isn’t really on people’s radar just yet. None of the well-known environmental companies in the area are offering formaldehyde testing. I did find one company, a company I have never used so will not promote, that is offering this test for about $200. I also found several websites that sell test kits for about $100. I’ll let you do your own google search to find them.

In some ways it bothers me that we have now found something else to worry about. But you are going to spend hundreds of thousands of dollars on a house, and then spend years of your time inside of it, it just seems like it’s smart to figure out what is good and not good about it. Because testing is not yet easy to obtain, it likely isn’t going to be commonly done at this point. But I predict it will come into common use as people’s awareness grows.

How do you fix it if you find it? That can be expensive if you are talking about replacing plywood and particle board. I imagine there may be products that can be painted onto surfaces to seal them. Again, this is a new area for me. If the demand is there on behalf of consumers, there is bound to be an industry that rises to meet the demand. I’d be interested in learning of any solutions that you may know of.

In the interest of full disclosure, here are my sources for this information:
www.en.wikipedia.org/wiki/Formaldehyde
www.prohousedr.com/formfact.com
www.epa.gov/oppt/chemtest/formaldehyde/index.html

Thanks for reading,
Dianne

Market Activity ~ Nov. 19-25, 2012

The chilly air and even Thankgiving Weekend aren’t stopping real estate activity in Lake Oswego! It is a myth that real estate does not sell in the winter. Though there were not many houses on tour Sunday, I had tons of traffic through my Devon Lane listing & our phones are ringing, as they do every holiday season. As the report shows, we have our usual winter slowing, but activity is steady. There are some really great homes out there, and people are on the hunt!

Last week there were 6 New on the market, 12 Pending and 9 Sold:

See below for further details on last week’s Market Activity:

NEWLY LISTED (Nov 19-25, 2012)

Address List Price # Beds # Baths Total SF Prop Type
3190 DUNCAN DR $324,900 3 2.1 2401 DETACHD
5324 LOWER DR $345,000 3 2.1 2034 DETACHD
1830 CLOVERLEAF RD $355,000 3 2 1795 DETACHD
17065 Tualatin ST $578,950 3 2.1 2733 DETACHD
17614 BLUE HERON RD $889,000 4 3 3150 DETACHD

PENDING SALES (Nov 19-25,2012 2012)

Address List Price # Beds # Baths Total SF Prop Type CDOM
16006 KIMBALL ST $179,000 2 1 500 RES-MFG 27
16060 INVERURIE RD $225,000 3 2 1458 DETACHD 19
18444 TUALATA AVE $259,000 3 2 1192 DETACHD 206
5099 GALEN ST $269,900 4 2.1 2246 DETACHD 60
668 McVey #72 $274,900 3 1.1 1184 CONDO 76
36 AQUINAS ST $324,900 3 2 1606 DETACHD 66
18238 TERRY AVE $359,000 3 2.1 1570 DETACHD 43
17423 OAK MEADOW LN $425,000 3 2.1 3125 DETACHD 141
15840 FIR GROVE CT $449,900 4 2.1 2666 DETACHD 109
14003 CHELSEA DR $550,000 4 2.1 3270 DETACHD 248
1864 CAMPUS WAY $668,999 5 4 4142 DETACHD 2
1943 INDIAN TRAIL $799,000 3 2.1 2960 DETACHD 6

SOLD (Nov 19-25,2012)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4000 CARMAN DR #39 $104,500 $98,000 2 2 866 CONDO 210
19163 TERRY AVE $409,000 $367,500 4 2 2149 DETACHD 69
14 MONTICELLO DR $374,900 $369,900 3 2 2766 DETACHD 1177
16439 LEXINGTON CT $464,900 $440,000 2 2 1563 DETACHD 99
16855 FERNWOOD DR $449,900 $445,000 3 3 2735 DETACHD 86
17975 RIDGE LAKE DR $497,900 $461,000 4 2.1 2727 DETACHD 15
1010 HOODVIEW LN $599,000 $575,000 4 3 3001 DETACHD 195
1033 NORTHSHORE RD $819,000 $757,500 3 2 2976 DETACHD 172
2180 PRESTWICK RD $1,200,000 $1,000,000 3 1.1 2391 DETACHD 87

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