Market Activity November 2-8, 2020

Last week in Lake Oswego there were 12 properties that came onto the market, 17 that received offers that were accepted and went into pending status, and 24 sold/closed houses or condos.

See below of breakdown of the RMLS data.

New on the Market, November 2-8, 2020

AddressTypePriceBRBathsSq Ft
45 Eagle Crest Dr #100Condo$295,000321537
16250 Pacific Hwy #73Condo$325,000221305
4584 Trillium WoodsAttached$739,90032.52179
4984 Bilford LnDetached$750,000322629
2395 Greentree RdDetached$779,90052.52777
5322 Carman Grove LnDetached$899,00032.52615
14218 Kimberly CircleDetached$916,50042.53272
2934 Tolkien LnDetached$974,80053.53851
6 Essex CtDetached$998,000444338
1156 Cherry LnDetached$1,345,00053.54084
5349 Washington CtDetached$1,350,00043.53906
18277 Crestline DrDetached$3,100,00045.56892

Pending sales, November 2-8, 2020

AddressTypePriceBRBathsSq FtCDOM
47 Eagle Crest Dr #62Condo$229,00031.5102677
4636 Lower DrCondo$259,90021.511708
65 Oswego SummitCondo$274,9002211404
668 McVey Ave #85Condo$274,90021.59924
34 Wheatherstone #17Condo$379,90032.5169226
16342 Kimball StDetached$525,00031.5125036
17020 Denny CtDetached$535,000221704150
127 Greenwood RdDetached$550,00031120113
77 Greenridge CtAttached$584,90032.5219011
4380 Douglas WayDetached$599,9503213647
2290 Overlook DrDetached$725,00042.530953
18225 65th AveDetached$730,00052.5221037
4311 Orchard WayDetached$850,00032.528043
13745 Cameo CtDetached$924,50044284678
5087 Lakeview BlvdDetached$1,200,00043.529570
527 Northshore RdDetached$1,800,0003224331
4321 Southshore BlvdDetached$3,950,00054.56731118

Sold/Closed, November 2-8, 2020

AddressTypeList PriceSold PriceSq FtCDOM
72 Galen StCondo$182,500$182,5006903
16250 Pacific Hwy #80Condo$239,000$199,000841165
6930 Montauk CircleCondo$235,000$235,00092412
287 CervantesCondo$279,900$292,50011444
245 CervantesCondo$299,900$299,90012923
4340 BotticelliCondo$399,999$377,9002285160
4520 Lower Dr A-1Condo$459,900$465,00017508
668 McVey Ave #51Condo$525,000$525,0008524
200 Burnham Rd #311Condo$639,000$540,000189463
86 Greenridge CtAttached$599,000$590,0002718109
2165 Ridge Pointe DrDetached$650,000$691,75047495
4007 Brian CtDetached$689,000$705,00022821
13998 Westcott CtDetached$849,900$840,00027279
345 E AveDetached$899,000$910,00015822
5871 Ridgetop CtDetached$975,000$975,00035433
2100 Summit DrDetached$849,900$995,00023585
428 C AveAttached$1,149,888$1,175,000260782
877 9th StDetached$1,450,000$1,438,00029324
289 G AveDetached$1,499,000$1,450,0004193374
18035 Skyland CircleDetached$1,595,000$1,530,000389315
711 7th StDetached$1,829,000$1,675,000276352
18230 River Edge LnDetached$1,790,000$1,750,000460817
129 Furnace StCondo$1,995,000$1,835,0004911135
1099 Terrace DrDetached$2,495,000$2,385,000469545

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.

Looking Ahead at 2013

Every winter the various title companies bring in economists to forecast what the coming year is going to look like, and every year I make it a point to attend at least one of these presentations. I gotta tell you, for the last 5 years, it’s been painful. Doom and gloom and hang onto your coat tails cause it’s gonna be a wild ride. What a breath of fresh air it was two weeks ago to go to the economic outlook program put on by WFG National Title.


The guest speaker was Patrick Stone, the President and CEO of Williston Financial Group. I am not going to quote Mr. Stone directly as my note taking was not done verbatim. I am going to instead share with you the general idea of what I took away.

First, after the recession, as a country and as individuals, we are well positioned for economic growth. This is because the recession allowed us to restructure out debt to get rid of it and to refinance it at a lower cost. This has created more liquid assets for both consumption and savings.

Second, as a state, Oregon is uniquely positioned to do even better than the national average.

GDP for the state of Oregon was second only to North Dakota, growing at 4.7%. This was attributed to Oregon’s manufacturing sector which is quite a bit stronger than the National average.

The prediction was made that we should see continued economic growth this year and into the next few years. Bear in mind that this could change if something horrible happens such as a terrorist attack or a huge natural disaster.

Mr. Stone went so far as to suggest that our housing recovery will likely recoup the house values lost to the recession by 2016. That would mean a 20% growth in house values in the next 3 years. Personally, I feel that momentum is happening. Will it sustain? I hope so.

Mr. Stone also talked about a future housing shortage. This would happen because of our strict land use laws that make the development of new land for new construction a slow process. To have lots for new homes in 2015, that land needs to be in the development process now. And not much bare land is currently in that process. Builders suffered in the recession and just have not been positioned to have the resources to invest in land development. That is changing. New housing starts are on the rise and the builders are beginning to prosper.

The long and short of it is that with a low supply of land and a growing economy, there will likely be a housing shortage in the future. Economics 101 is about supply and demand. Low supply combined with high demand is what causes prices to go up.

No, I don’t have a crystal ball. Yes, I may be entirely wrong. But based upon what I heard at this year’s economic forecast session, 2013 should be a good year for the real estate market and that positive growth is likely to continue into the years ahead.

I sure hope so. We all deserve some good news.

Lake Oswego Open Houses ~ Sunday, Jan. 24, 2010

We have 28 properties on tour in Lake Oswego this Sunday.  Once again, all ranges in price, styles and property types are open for your viewing pleasure!  I will be holding 363 6th St. open myself.  It is a stunning, custom town home in the heart of First Addition.  Come on by and say hello!

Here are the Open Houses in Lake Oswego according to RMLS:

Address List Price # Beds # Baths Total SF Prop Type Open
1950 BONNIEBRAE DR $189,900 2 1.1 1056 ATTCHD 2-4PM
1547 BOCA RATAN DR $208,900 2 1.1 1008 ATTCHD 11-1:30PM
1248 OAK ST $245,900 2 1 900 DETACHD 1-4PM
4372 WOODSIDE CIR $284,900 2 2 1178 ATTCHD 1-4PM
4310 SILVER CT $339,000 2 3.1 1996 ATTCHD 12:30-3:30PM
1025 C AVE $428,950 3 2 2261 DETACHD 1-3PM
4962 BILFORD LN $439,900 3 2.1 2168 DETACHD 1-3PM
16909 CRESTVIEW DR $524,900 4 3 2553 DETACHD 12-3PM
401 ASH ST $525,000 5 4 5320 DETACHD 1-3PM
475 10TH ST $534,950 4 2.1 2932 DETACHD 1-3PM
33 MORNINGVIEW CIR $574,900 3 2.1 2737 DETACHD 1-3PM
363 Sixth ST $599,900 3 3.1 2258 ATTCHD 2-4PM
5218 WESTFIELD CT $699,500 4 2.1 3125 DETACHD 1-4PM
16705 GLENWOOD CT $699,000 – $749,000 4 3 4243 DETACHD 12-3PM
17110 LOWENBERG TER $799,000 4 2.1 2678 DETACHD 1-3PM
17281 LOWENBERG TER $884,900 4 3.1 3386 DETACHD 1-3PM
17154 LOWENBERG TER $889,900 5 3.1 3497 DETACHD 1-3PM
17896 SW KELOK RD SW $990,000 5 5 4323 DETACHD 1-3PM
18222 SIENA DR $1,088,000 6 4.1 3800 DETACHD 1-3PM
2057 SUMMIT DR $1,099,000 4 3.1 4589 DETACHD 1-3PM
1809 HEADLEE LN $1,125,000 2 2.1 3836 DETACHD 1-3PM
18209 SIENA DR $1,178,950 5 3.1 3839 DETACHD 1-3PM
18143 SIENA DR $1,197,000 5 4.1 4152 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
664 OAK MEADOW DR $1,355,000 4 3.1 4198 DETACHD 1-3PM
18110 Siena DR $1,394,000 4 3.1 4311 DETACHD 1-3PM
2572 GLEN EAGLES PL $2,395,000 5 4.2 6490 DETACHD 1-3PM

Amazing Deal on Luxury Townhomes in First Addition

LOSixthFrontIt isn’t often that we shine the spotlight on any particular property, but when we heard that the new luxury town homes on Sixth St in sought-after First Addition had just lowered their prices by $100,000 each to $599,900., Dianne and I just had to run over there and take a look.

There are six of these little gems with four of them left & available for purchase. The address is 363 Sixth St., and the LOKitchen 102909ML# if you want to get a preview is 9057549. Each has 2258 SF, 3 bedrooms, 3 & 1/2 baths, 2 levels with additional full finished basements, and probably just everything you’ve been looking for.

First of all, they really are gorgeous. The finishes in these are superior. The first feature you notice inside are the beautiful plank maple hardwood floors. A sleek yet spacious slab granite kitchen with long island, pantry & light beech LO DiningRm 102909cabinets also boasts additional built-ins and smart features like a pull-down bar. The dark french doors to the front porch area off the dining room are a rich contrast, and the white wainscoting throughout adds that crisp old-world cottage feel. The 2-car detached garage out back with private courtyard to the house is an added bonus in First Addition, and from there you enter the great room compete with gas fireplace and more built-ins.

LO BltIns 102909Downstairs you find another gas fireplace and generous media room as well as another bedroom & bathroom w/an additional laundry area for guests or your reclusive teenager. Upstairs is the master bedroom & bath showing off glorious travertine w/onyx, a clawfoot tub & separate shower as well as an additional bathroom w/soaker tub & yet another bedroom. Walk-in closets of course, and the main laundry near the upstairs bedrooms check those final “must-haves” off the list.

LOKitchen102909Overall, these are just so unique & have that easy-living feel that goes hand in hand with the First Addition lifestyle… you know, walking to all the services, trendy shops and restaurants, not to mention Millenium Park Plaza for a view of the lake & all the festive local activities like Farmer’s Market, open air Movie Nights, Holiday Tree-Lighting festivities and on & on. First Addition is just a strolling kinda place; a small-town feel with all the amenities. Cottage Living LOGrtRm3magazine named First Addition as one of the ten best cottage communities in the country. American Planning Association name it one of the top 10 neighborhoods in America. The accolades go on & on.

Yes, these are nice indeed. But you know, on the practical side, in addition to the location & amazing price when comparing features & finishes to other offerings, there are also NO HOA fees. Compare that with other HOA’s nearby at anywhere from $136./month to $455./mo.

LOMedia RmCome on down & take a look. Bring a Realtor as there has been a lot of interest. They will be held open both Saturday & Sunday from 1 – 4.

First Addition

first-addition.jpgFirst addition is one of the Portland area’s most charming and desirable places to live. It was platted in 1888 and is actually Lake Oswego’s second oldest neighborhood. (The oldest is the historic old town area near George Roger’s Park). The neighborhood was the first growth outside of Old Town as the economic focus of the town shifted from the production of iron and steel to the pursuit of recreation. The neighborhood has about 30 blocks of historic homes. A tour of homes will allow you to see Gothic, Craftsman, Colonial Revival, Vernacular, and English Cottage styles.

One of the great features of the location is that it is a short walk to many of Lakelo-library.jpg Oswego’s most popular attractions. The neighborhood hosts the Lake Oswego Public Library and the Adult Community Center. It is also adjacent to the Village Center with its boutiques and restaurants, as well as Millenium Plaza Park which is the location of the Farmer’s Market. As if that weren’t enough, directly North of the neighborhood is Tryon Creek State Park with its miles of trails for hiking, jogging, and even horse back riding.

First Addition has a very active Neighborhood Association that works to preserve the historic flavor of the neighborhood, to keep the area pedestrian friendly, and to preserve the many large trees. There is a 100+ year old sugar maple tree on the corner of 3rd and C Avenues that is beyond spectacular when its leaves turn orange in the fall.

adult-community-center.jpgAdding to the convenience of living in First Addition is the fact that it also contains Lake Oswego’s Tri-Met transit center with bus to downtown Portland and the rest of the metropolitan area.

In 2006 Cottage Living Magazine named First Addition one of the ten best cottage communities in the United States. It raved about the quaint homes, the easy walk to attractions, and the “jewel box gardens winking from behind picket fences”.

First Addition is an awesome place to live that features quaint and historic homes along with easy convenience to many great attractions. When you buy a home in First Addition, you are not just buying a house, you are buying a lifestyle.

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