Market Activity ~ Dec. 16-22, 2013

Last week in Lake Oswego, 9 New properties entered the market, 13 moved to Pending status, and 10  “Closed”/Sold.

Here is the breakdown of activity according to RMLS:

NEW on MKT (Dec 16-22, 2013)

Address List Price # Beds # Baths Total SF Prop Type
4000 CARMAN DR #103 $125,000 1 1 818 CONDO
4000 CARMAN DR #106 $139,100 2 2 993 CONDO
4000 CARMAN DR #55 $149,999 2 2 866 CONDO
200 RIDGEWAY RD $175,000 2 1 988 CONDO
1120 BOCA RATAN DR $260,000 3 2 1611 ATTACHD
16056 REESE RD $319,000 3 2 1667 DETACHD
1491 KOAWOOD DR $489,900 4 3 2510 DETACHD
1110 HALLINAN CIR $575,000 4 3.1 3824 DETACHD
5184 WOODCREST LN Lot 1 $599,900 4 2.1 2935 DETACHD

PENDING SALES (Dec 16-22, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
3696 SPRING LN #3B $129,900 2 2 1117 CONDO 42
5523 ROYAL OAKS DR $200,000 2 3 1817 DETACHD 501
18 WHEATHERSTONE $295,900 3 2.1 1692 CONDO 138
250 FURNACE ST $389,000 2 1 899 DETACHD 68
16038 REESE RD $439,000 3 3 3154 DETACHD 2
17940 MEADOWLARK LN $459,000 5 3 2508 DETACHD 143
3435 Lake Grove AVE $595,000 4 3 2618 DETACHD 76
18064 JENIFERS WAY $639,950 5 3 2965 DETACHD
14144 KIMBERLY CIR $649,900 5 3.1 3824 DETACHD 7
13374 HIDDEN BAY CT $699,000 4 2.1 3520 DETACHD 98
72 NANSEN SUMMIT $1,100,000 4 3 4770 DETACHD 256
17323 BERGIS FARM DR $1,280,000 4 3.2 4297 DETACHD 194
112 NORTHSHORE CIR $1,500,000 4 3.1 3632 DETACHD 331

SOLD (Dec 16-22, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
86 KINGSGATE RD C204 $100,000 $103,100 2 2 938 CONDO 10
100 KERR PKWY #59 $112,000 $105,000 2 1.1 823 CONDO 5
3433 MCNARY PKWY #405 $156,900 $141,000 2 2.1 1208 CONDO 113
16250 PACIFIC HWY #64 $249,000 $240,000 2 2 1305 CONDO 69
3285 SW CHILDS RD $375,000 $285,000 4 3 2780 DETACHD 76
17736 CARDINAL CT $330,000 $355,000 4 2.1 2280 DETACHD 6
464 LIVINGOOD LN $450,000 $400,000 4 2.1 2584 DETACHD 129
208 NORTHSHORE RD $649,950 $620,000 5 3 2926 DETACHD 113
144 LEONARD ST $749,900 $665,000 4 3.1 3552 DETACHD 136
448 COUNTRY CLUB RD $1,299,000 $1,200,000 4 3.1 4873 DETACHD 328

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

Happy Holidays to You!!!

As Christmas weekend approaches, Dianne and I wanted to take a moment and wish you a very peaceful and joyous holiday with your friends and family.  It is such a pleasure for us to write this blog and to serve your needs through the year, and we appreciate each of you so much.

We will be taking a little holiday ourselves, and will be back with our weekly Activity Report on Monday, January 3rd, 2011.  Till then…. stay safe, warm and happy.

Merry Christmas & Happy Holidays!!!

Dianne and Linda

Insurance & Adventures in Home Ownership

slide_1bWe’ve given you plenty of coverage of the exciting and unusual weather experienced lately here in Lake Oswego. I hesitate to scare the bajeezeez out of anyone contemplating living here, and/but believe that even though this is unusual weather, the story I’m about to share is extremely valuable for just that reason, and highlights the importance of giving great consideration to the type of insurance you decide to carry when purchasing a home.

Last Friday at about 1:00AM, 23-year old Sammy Abazzaz and a group of his friends were relaxing and having a late-night snack in the second-floor kitchen of Sammy’s Lake Oswego home when a mudslide hit its rear filling the level below with moving earth, throwing granite counters at them and opening a crevasse at their feet sending some plummeting beneath it.  Sammy’s parents were in British Columbia celebrating the new year and rushed home upon hearing of the catastrophe. All the occupants are reported to have escaped and are deemed relatively “OK” with the exception of one broken arm and lots of nightmares I’m sure.  According to the Oregonian,  Sammy relates: “It came through almost like an avalanche, through the windows and the house”.  Heavy rains and a plugged drainage point on the hill above the home reportedly caused the slide.

slide_6Scott Burns, a professor of geology at Portland State University advises:  “The important thing is to get people in Portland and the rest of this area to ask the question, ‘What can I do to prevent landslides on my property?’ ”  “There was just a lot of storm water going down the streets and going in every direction,” said Bill Burns, an engineering geologist with the state Department of Geology and Mineral Industries. “There was just so much water, it was just over-taking the system.”

slide_3The family reportedly had homeowners insurance, but not the additional protection of landslide coverage which is typically excluded from most policies. I would pose that in addition to being the most diligent and informed homeowner you can possibly be, you also need to acknowledge that sometimes “stuff happens”, and therefore it is prudent to assess any “potential” hazards (even if you believe them unlikely) and protect yourself with appropriate insurance. This means you may end up being the one inquiring as to the availability of such add-ons, and so need to come armed to any discussion with data to guide your inquiries and decisions. To that end, let me provide you with some basic information, which I suggest you view as a primer, and not as the replacement for consultation with your insurance agent who, unlike me, is the “insurance expert”:

  • Most homeowners policies will not include: floods, mold/fungus, earthquakes, mudslides/landslides, sinkholes, war or nuclear accidents.
  • If you do have, or are considering flood insurance, check to see if you are covered for a landslide should the slide be carried by a body of water. Some flood policies cover mudslides ONLY under these circumstances.
  • Cost of coverage is based on where you live & other factors. (visit: http://www.Floodsmart.gov). A typical quote for someone NOT in a flood plane according to my own insurance office only will cover up to $250,000 in structural damage, and $100,000 for content damage.  ** For $200,000/structure and $80,000/contents in a recent “preferred location” quote in SW Portland, the price tag I’m told was $326/yr.
  • Generally speaking, “property damage” is not intended to include a detached garage, outbuildings, tool sheds etc. These may be covered, but usually at around 10% of the amount of coverage applicable to your home.
  • The most common policies in the United States cover losses due to fire, lightning, fallen trees, tornadoes, wind storms, hail explosions, smoke, vandalism and theft. The amount of coverage that you have is an item for discussion between you and your insurance agent.
  • Water seepage from the ground up into your home is usually considered a maintenance issue and not covered in standard or flood policies.  Waterproofing and appropriate drainage work is recommended if this is an issue.
  • Although the term “Acts of God” is bandied about by most of us, it is not a term that’s actually included in homeowners insurance policies.

We all live on planet earth, so accordingly, we are susceptible to all kinds of unexpected occurrences.  Importantly, let me repeat-

  • Get/Stay informed.
  • Gather information about your property and any “potential” hazards.
  • Take appropriate mitigating actions to remove any threat(s) if possible.
  • Consult your insurance agent for the best advice on protecting yourself, your home and your family.
  • Should you not already have a trusted insurance agent/advisor, request some references from your Realtor.

Home ownership is an adventure.  Suit up, and enjoy it!

Open Houses for Sunday, December 28th

Well, we still have lots of snow on the ground, but roads are generally passable thanks to some rain & melt-off. So… It’s Open House time!  You know those visiting relatives you’ve always wanted close by???  Pile them in the car on Sunday & take a tour.   Here is what’s on tap according to RMLS:

18530 Pilkington Road $319,000     3 Bd, 2 Ba,   Open 1-4

624 Livingood Lane      $574,900     4 Bd, 3Ba,    Open 1-3

16359 Chapin Way $1,439,000  4 Bd, 3 1/2 Ba,  Open 12:30-3:30

Local Flavor + Holiday Wishes For You!

Wow! A newscaster said yesterday that we are experiencing the biggest snow event since 1964!  For those of you who tune in to the Blotter from out of state, I am attaching a few photos so that you can see what we are talking about. Dianne has posted some for your amusement as well. We usually focus on real estate pretty much exclusively in our Blog, but with this kind of excitement, we can’t resist giving you a little local flavor.

Real estate is happening in Lake Oswego however, as you can see from Monday’s Activity Report.  I experienced an inspection last week in a foot of snow… before it REALLY got going : )  But that is another story. For now… here’s what life in Lake Oswego has been like-

Main roads are kept pretty passable with mostly packed snow, and are sanded regularly (Oregon does not use salt), but side streets, especially hilly ones, are let’s say…  invigorating! Kids who have been out of school an extra week this Winter Break are sledding everywhere. Lots of folks have bagged their aspirations of mobility as evidenced by the feet of snow burying their cars on the sides of many roads.  Others who are able and so inclined have headed for Mt. Hood where skiing is incredible, and road crews are always ahead of the curve. Trees laden with snow and ice have released some of their burden in the form of limbs in yards and on roadsides. But hey… it’s pretty!

Christmas has taken on a completely different tone this year.  Instead of filling the malls, people gather in kitchens around batches of cookies. Fireplaces are the center of many homes where friends, family and a variety of hot beverages and toddies complete the picture.  The uptick in Internet shopping in the area has kept UPS busy all over! This year is definitely one we will never forget.

Dianne and I would like to take a moment to wish you the very best of the Holiday Season. Whether your beliefs are Christian, Jewish, Hindu, Muslim, Buddhist,+++ or you simply harbor a fondness for Santa, this is a season of hope and love which we all can share. We also want to say thank you to our clients who’ve trusted us with their real estate needs this past year. We are grateful for your business, your loyalty, and your faith in us. We look forward to the New Year ahead, and want to wish you and yours every happiness. Thank you for reading the PropertyBlotter!

Merry Christmas & Happy Holidays.