* Watershed Health Open House – Oct. 22nd at Hazelia Field/Luscher Farm – Come and learn more about the city’s work to improve watershed health and water quality and how you can help. There will also be pumpkin decorating activities for kids!
* Drug Take-Back Day – Oct 29, 10AM – 2PM at the Lake Oswego Adult Community Center/505 G Ave. – Dispose of your unwanted or expired medications.
* Foothills Framework Plan – The draft is available HERE. Learn more about the city’s efforts to put a plan together that transforms the 107-acre area into a vibrant, river-front neighborhood for housing and businesses. Click HERE to learn more about the project and what’s behind it.
* Help Meals on Wheels – During the month of October you can help deliver a healthy lunch to a home-bound senior by choosing to add the cost of 1, 3 or 7 meals to your grocerey bill at New Seasons Market in Mountain Park!
Here are some Market Notes for you~
According to the RMLS Market Action Report for September 2011, the combined area of Lake Oswego and West Linn reported:
In Lake Oswego there were 17 New properties entering the market, 8 in Pending status, and 10 marked as Sold during the last week according to RMLS.
See below for further details:
NEWLY LISTED (Oct. 10-16, 2011)
Address
Type
Price
Sq FT
BR
Baths
4629 Lakeview Blvd C2
Condo
$94,900
1178
2
2
203 Cervantes
Condo
$119,900
1100
2
2
16494 Inverurie Rd
Detached
$155,000
1064
3
1
247 Cervantes
Condo
$161,200
1384
2
2
5830 SW Burma Rd
Detached
$189,000
1186
3
1
5786 Washington Ct
Detached
$194,400
1876
3
2
19010 Longfellow Ave
Detached
$199,900
1732
3
1
135 Kingsgate Rd
Detached
$264,900
1720
3
2.5
765 Maple St
Detached
$380,000
1998
3
2
120 Condolea Dr #45
Condo
$383,790
2958
3
3
4660 Black Forest Ct
Detached
$390,000
2157
4
2.5
13750 Shireva Dr
Detached
399,900
3294
4
3
12 Yorick St
Detached
$416,000
2428
4
3.5
4367 Haven St
Detached
$578,000
3617
5
3.5
3000 Upper Dr
Detached
$695,000
2851
3
3
19363 SW Riverwood
Detached
$719,000
2984
4
3
1623 Glenmorrie Dr
Detached
$925,000
5894
5
4.5
PENDING SALES (Oct. 9-16, 2011)
Address
Type
Price
Sq Ft
BR
Baths
CDOM
99 Oswego Summit #99
Condo
$89,900
1116
2
1.5
45
45 Eagle Crest Dr $508
Condo
$169,000
1046
2
2
206
17025 Denney Ct
Detached
$209,900
1429
3
2
7
1674 Fircrest Dr
Detached
$249,500
1998
4
2
114
140 Touchstone Ct
Attached
$284,900
1964
3
2.5
8
15601 Manchester Dr
Detached
$424,000
3302
5
3.5
150
5428 Southwood Dr
Detached
$575,000
3302
4
3
172
427 9th St
Detached
$649,500
3250
5
3.5
123
SOLD (Oct. 10-16, 2011)
Address
Orig. Price
Sold Price
Type
Sq Ft
CDOM
3311 Fir Ridge Rd
$359,000
$359,000
Detached
2112
91
4734 Lakeview Blvd
$439,950
$366,500
Detached
2787
155
4677 Oakridge Rd Lt4
$369,900
$369,900
Attached
1738
97
4663 Trillium Woods Lt 9
$433,275
$418,275
Attached
2232
0
5842 Meadowcreek Ct
$449,900
$440,000
Detached
2309
7
2235 Glen Haven Rd
$549,000
$479,000
Detached
2778
714
5686 Charles Circle
$499,900
$499,900
Detached
3246
6
4184 Sunset Dr
$569,000
$500,000
Detached
2932
169
5035 Woodcrest Ln Lt 19
$585,300
$604,894
Detached
3174
0
5088 Woodcrest Ln
$599,900
$607,500
Detached
3056
219
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
Housing starts in new construction have always been a leading indicator of what is happening in the housing market. It can be a real roller coaster for builders. So I thought it would be interesting to compile some information that allows you to easily see what has happened to new construction in Lake Oswego in the years 2006-2011.
Here is a summary:
Year
# Houses Sold
Low Price
High Price
Average Price
Square feet
2006
30
$449,900
$1,980,000
$1,068,000
3,743
2007
33
$825,000
$2,610,000
$1,435,000
4,450
2008
11
$670,000
$1,815,000
$990,000
3,746
2009
11
$519,000
$2,025,000
$1,002,000
3,623
2010
13
$510,000
$1,115,000
$697,000
3,635
2011
18 to date
$375,000
$959,000
$683,000
3,131
2011 Pending
13
$379,900
$1,199,000
$619,800
3,071
Active
39
$379,950
$3,400,000
$662,000
2,924
It’s pretty incredible to see how heady things got in 2007. In just one year the average sales price went up from $1,068,000 to $1,435,000. And the size of the houses being built went from an average of 3743 square feet to 4450 square feet. I remember seeing million dollar mansions being built and sold as spec houses on Southshore! I have always been able to appreciate a big, gorgeous new house at top dollar if it also has a nice location and setting, but on a busy street? Even then it seemed crazy to me. But there is so little undeveloped land in Lake Oswego that the buyers were willing to buy on a busy street. The demand for large, luxury homes was that high.
Then the economy turned. Very few homes were built and sold 2008-2010.
What got me to thinking about writing on this topic is that I have been seeing quite a lot more new construction. The builders have learned and adapted to the economy. I was surprised to see that the average size of a new home is still right around 3000 square feet. So they are smaller, especially when compared to the 4450 average size in 2007, but 3000 square feet is still a good sized house. The big change is in the pricing. Averages prices of 2011 solds, pending sales and active listings are all in the $600,000’s. There are 18 closed sales year to date but 13 in escrow. With escrow times running 45-60 days, it’s fair to say that most of the pending sales will close by the end of the year. So we could potentially see new construction sales up around 30 for the year, which is where they were before the recession.
I think this is a time of opportunity in Lake Oswego housing. There are 13 brand new homes for sale in LO right now that are priced under $500,000.
Please let us know if you want further information. Linda and I would love to be of help.
Dianne
In Lake Oswego there were 19 New properties entering the market, 12 in Pending status, and 6 marked as Sold during the last week according to RMLS.
See below for further details:
NEWLY LISTED (Oct. 3-9, 2011)
Address
List Price
# Beds
# Baths
Total SF
Prop Type
67 OSWEGO SMT
$169,500
2
2
1212
CONDO
17025 DENNEY CT
$209,900
3
2
1429
DETACHD
140 TOUCHSTONE CT
$284,900
3
2.1
1964
ATTACHD
2315 SOUTHSHORE BLVD
$285,000
3
1
1970
DETACHD
16081 PEARCY ST
$285,000
3
3
1919
DETACHD
8 POLONIUS ST
$319,000
3
2
1729
DETACHD
4251 WOODSIDE CIR
$324,900
3
2
2032
ATTACHD
207 HIDALGO ST
$339,000
4
2.1
2604
DETACHD
4208 HARVEY WAY
$379,900
4
2
2132
DETACHD
15085 GLEN EAGLES PL
$399,900
4
3
2996
DETACHD
345 3RD ST
$569,900
3
4
2132
DETACHD
4344 SNOWBRUSH CT
$579,000
4
3.1
3112
DETACHD
13546 PETERS RD
$629,000
3
3
3036
DETACHD
5056 DENTON DR
$684,900
4
2.1
3067
DETACHD
17406 BROOKHURST DR
$689,900
5
3.1
3775
DETACHD
307 NORTHSHORE RD
$1,295,000
3
2
2673
DETACHD
907 TERRACE DR
$2,295,000
6
4.3
6919
DETACHD
2098 CREST DR
$4,395,000
5
5.1
7847
DETACHD
3690 LAKEVIEW BLVD
$5,950,000
5
5.1
6366
DETACHD
PENDING SALES (Oct. 3-9, 2011)
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
58 GALEN ST
$65,000.00
1
1
689
CONDO
414
129 OSWEGO SMT
$69,995.00
1
1
764
CONDO
424
16250 PACIFIC HWY 44
$149,000.00
2
2
1305
CONDO
239
4473 GOLDEN LN
$155,000.00
2
2.1
1980
CONDO
347
4390 SUNSET DR
$174,500.00
3
1
970
DETACHD
47
3500 RED CEDAR WAY
$250,000.00
3
2
1769
DETACHD
6
4752 REMBRANDT LN
$279,900.00
3
2.1
1516
DETACHD
26
19487 SW DOGWOOD CT
$459,900.00
5
3
3105
DETACHD
230
4725 FIRWOOD RD
$479,500.00
3
2.1
2557
DETACHD
133
13223 DEERFIELD CT
$614,900.00
5
3.2
4008
DETACHD
423
14070 GOODALL RD
$920,000.00
4
3.2
4460
DETACHD
10
667 IRON MOUNTAIN BLVD
$1,199,000.00
4
4.1
4679
DETACHD
319
SOLD (Oct. 3-9, 2011)
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
215 CERVANTES
$134,999
$129,000
2
2
1100
CONDO
44
13985 SUNDELEAF DR
$279,000
$270,000
3
2
1278
DETACHD
83
2360 GREENTREE RD
$379,900
$364,000
3
2.1
2211
DETACHD
139
4681 TRILLIUM WOODS Lot 08
$419,900
$421,000
3
2.1
2135
ATTACHD
194
15180 BOONES WAY
$549,900
$455,600
5
3.1
3961
DETACHD
57
17682 MARYLBROOK DR
$599,900
$480,000
4
2.1
3799
DETACHD
209
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
In Lake Oswego last week there were 14 new listings, 16 pending sales, and 10 closed sales.
See below for further details:
NEWLY LISTED (Sept. 26 to Oct. 2, 2011)
Address
Type
Price
Sq FT
BR
Baths
18914 Longfellow Ave
Detached
$235,000
1232
3
1.5
16212 Lake Forest Blvd
Detached
$249,000
1267
3
2
3500 Red Cedar Way
Detached
$250,000
1769
3
2
6263 Childs Rd
Detached
$279,900
1600
3
2
113 Touchstone
Attached
$289,000
1838
2
2.5
589 Ridgeway Rd
Detached
$450,000
1736
3
2
13880 Knaus Rd
Detached
$520,000
3532
4
3.5
17160 Kelok Rd
Detached
$549,900
4650
4
4
3811 Carman Dr
Detached
$580,000
3028
4
2
17952 Cardinal Dr
Detached
$599,999
1702
4
2
15633 Fieldstone Dr
Detached
$618,950
3047
4
2.5
17601 Woodhurst Pl
Detached
699,000
3272
3
2.5+.5
4767 Dogwood Dr
Detached
$839,900
3964
4
2.5
12900 Fielding Rd
Detached
$4,395,000
7527
6
7.5
PENDING SALES (Sept 26 to Oct 2, 2011)
Address
Type
Price
Sq Ft
BR
Baths
CDOM
12 Crestfield Ct
Condo
$44,900
552
1
1
74
48 Eagle Crest Dr 3B
Condo
$134,900
1489
2
2
37
5064 Foothills Dr H
Condo
$185,000
1252
3
2
203
4760 Lower Dr
Detached
$229,900
2324
3
3
44
3305 Upper Dr
Detached
$299,999
1484
3
2
172
1286 Rockinghorse Ln
Detached
$309,000
1883
3
2.5
316
18715 Indian Creek Dr
Detached
$339,825
1976
3
2
244
1214 Hallinan Circle
Detached
$342,000
1748
3
2
7
17071 Rebecca Ln
Detached
$379,900
2230
4
3
129
4693 Lakeview Blvd
Detached
$429,950
2021
3
2
120
4729 Firwood Rd
Detached
$489,500
2594
3
2.5
127
18462 Anduin Terr
Detached
$524,900
2982
4
2.5
71
215 Chandler Pl
Detached
$895,000
3118
3
2.5
355
1066 Northshore Rd
Detached
$1,195,000
4224
4
5.5
239
1715 Edgecliff Terr
Detached
$1,295,000
4929
4
4.5
475
2936 Lakeview Blvd
Detached
$1,888,000
4179
5
3.5
120
SOLD (Sept 26 to Oct 2, 2011)
Address
Orig. Price
Sold Price
Type
Sq Ft
CDOM
4454 Thunder Vista Ln
$170,000
$157,000
Condo
2060
158
16443 Lake Forest Blvd
$249,900
$206,000
Detached
1474
47
5139 Tualata Ln
$257,900
$262,000
Detached
1524
6
55 Northshore Rd #4
$289,000
$289,000
Condo
1554
18
17095 Rebecca Ln
$399,900
$375,000
Detached
2350
84
19285 Megly Ct
$539,900
$479,900
Detached
3275
203
605 4th St
$525,000
$518,000
Detached
1880
30
5511 Fieldstone Ct
$638,950
$615,000
Detached
3037
629
17460 Wren Ct
$995,900
$850,000
Detached
3305
180
3328 Lakeview Blvd
$3,750,000
$2,565,000
Detached
6675
471
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
Along with letting you know about the open houses scheduled for this Sunday, I want to share an a quick bit of wisdom. I am currently working with an investor who is doing a 1031 exchange following the passing of his parents who were first-generation immigrants. They came to this country, worked hard, and invested in real estate. With their passing, their children are now coming into a fairly substantial amount of money. Following their parents advice, they too are investing in real estate. Their parents words of wisdom: invest in what you can sweep.
Love it!
Here are the open houses to anticipate this Sunday. Have a great weekend.
There are 25 neighborhoods in Lake Oswego and today I want to focus on one in particular: Bryant. Bryant is found on the South side of the lake and is bounded by Upper Drive on the North, Southshore and Kelok roads on the East, Childs and Deerbrush roads on the South, and Pilkington on the West.
Lake Grove Swim ParkHighlights of the neighborhood include Waluga Junior High School, West Bay, Lamont Springs Nature Park, and on the Northern edge, one of Lake Oswego’s two swim parks, the Lake Grove Swim Park.
There is a small commercial commercial district that allows the neighborhood to enjoy 4 excellent restaurants. LaVang’s is an institution having been opened many years ago by a Vietnamese doctor who used the proceeds to support an orphanage in Vietnam. I am not sure if the connection to the orphanage still exists, but I can tell you that the good food has remained. It has wonderful Pho and amazing salad rolls. Deno’s Pizzeria has about the best caesar salad I have ever eaten. Pine Shed Ribs serves Santa Maria Style Barbeque. And the newest addition is Oliver’s which specializes in farm to table fresh ingredients with a Mexican flair.
West BayHousing in the area runs the gamut. There are several condominium complexes with pricing ranging from $100,000 to $175,000, with 1 currently for sale, 2 pending and in escrow, and 1 closed sale in the last 6 months.. The single family residential has a much broader range.
There are currently 22 houses for sale. The least expensive house currently for sale was built in 1952 and is a bank foreclosure. It has 2324 square feet (928 is in an unfinished basement), 3 bedrooms and 3 full baths. It is listed for $229,900.
The most expensive house currently for sale is on a canal. It was built in 1985, is on nearly half an acre with 4 bedrooms and 2.5 baths, and is listed for $1,199,000.
25 homes have sold in the last 6 months. The low sale occurred on a mid-century modern home that was built in 1962. With 1700 square feet, 3 bedrooms and 2 baths, it was listed for $229,900. It sold in just 2 days for $209,400. The most expensive sale was a 1992 built home with a brick facade and 3-car garage on a cul-de-sac. It had 4 bedrooms, 2.5 baths. Listed for $850,000, it sold in 56 days for $750,000.
I think what I like about the Bryant neighborhood is how walkable it is. Relatively flat, you can walk to the swim park or to a good restaurant in 10 to 15 minutes. I don’t live in the Bryant neighborhood, but I do live close enough that I walk through it regularly. Lamont Springs Park is a personal favorite.
Please feel free to let Linda or myself know if we’ve peaked your curiosity and would like more information about homes in this area.
A bit of a September slowdown with 12 New properties entering the market, 8 in Pending status, and holding a steady line on sales activity with 10 marked as Sold during the last week according to RMLS.
See below for further details:
NEWLY LISTED (Sept. 19-25 2011)
Address
List Price
# Beds
# Baths
Total SF
Prop Type
92 CERVANTES CIR 11E
$132,100
2
1.1
912
CONDO
6929 MONTAUK CIR
$134,900
2
1
968
CONDO
1214 HALLINAN CIR
$342,000
3
2
1748
DETACHD
4653 OAKRIDGE RD Lot 2
$366,900
2
2.1
1738
ATTACHD
4793 AUBURN LN
$389,900
3
2.1
2083
ATTACHD
13254 FIELDING RD
$567,000
3
2.1
3248
DETACHD
816 9TH ST
$674,500
4
3.1
3033
DETACHD
4102 CHAD DR
$739,000
4
2.1
3054
DETACHD
16736 SYLVAN CT
$839,000
4
3
3914
DETACHD
14070 GOODALL RD
$920,000
4
3.2
4460
DETACHD
777 N SHORE RD
$1,350,000
3
3.1
3960
DETACHD
1799 ATHERTON DR
$1,400,000
5
5.1
6280
DETACHD
PENDING SALES (Sept 19-25, 2011)
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
96 GALEN ST
$53,900
1
1.1
552
CONDO
11
3808 BOTTICELLI ST
$175,000
3
2
1203
ATTACHD
106
5225 Jean RD
$179,900
3
2
1400
CONDO
5
17839 TAMARA AVE
$257,500
3
1.1
1562
DETACHD
177
4675 OAKRIDGE RD Lot 3
$369,900
3
2.1
1738
ATTACHD
112
1193 TROON RD
$395,000
3
2.1
2558
DETACHD
33
1991 GREENTREE RD
$399,999
3
3
2655
DETACHD
160
4681 TRILLIUM WOODS Lot 8
$419,900
3
2.1
2135
ATTACHD
194
SOLD (Sept 19-25, 2011)
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
3 Oswego Summit #17
$87,000
$74,000
1
1
764
CONDO
436
1400 BONNIEBRAE DR
$183,500
$130,000
2
1
864
ATTACHD
436
12828 SW BOONES FERRY RD
$224,500
$163,800
2
2.1
1136
ATTACHD
103
17635 DEEMAR WAY
$259,900
$185,100
3
2
1488
DETACHD
136
18963 LONGFELLOW AVE
$299,900
$233,000
3
1.1
1232
DETACHD
221
1094 ERICKSON ST
$449,888
$280,000
4
3
2769
DETACHD
284
17653 SCHALIT WAY
$299,900
$305,000
3
2
1463
DETACHD
10
5530 BAY CREEK DR
$499,900
$435,000
4
2.1
2958
DETACHD
12
17981 MEADOWLARK LN
$529,900
$500,000
3
2.1
3250
DETACHD
120
17503 CHERRY CT
$950,000
$730,000
4
3.1
4200
DETACHD
219
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
