Tag: Oregon First

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Market Activity ~ July 15-21, 2013

Thank you to Laura Berman for this shot ! www.LauraBermanMusic.com
“Moon Over Lake Oswego” ~ Thank you to Laura Berman for this shot ! www.LauraBermanMusic.com

 

 

 

 

 

 

Summer is moving along rather well with last week showing 28 New properties entering the market, 18 moving to Pending status, and 24 that “Closed”/Sold.

Here is the breakdown of activity according to RMLS:

 

 

NEW SALES (July 15-21, 2013):

Address List Price # Beds # Baths Total SF Prop Type
45 OSWEGO SMT $100,000 1 1 767 CONDO
4 SAINT HELENS CIR $319,900 3 2 1617 DETACHD
4730 FIRWOOD RD $350,000 4 2 2124 DETACHD
1505 IVY CT $350,000 4 2.1 2656 DETACHD
17859 HILLSIDE WAY $417,000 5 3 3926 DETACHD
2215 FERNWOOD CIR $429,500 4 3 2640 DETACHD
8 BERNINI CT $449,000 3 2 1465 DETACHD
4860 CENTERWOOD ST $479,000 5 2.1 2533 DETACHD
143 KINGSGATE RD $499,000 3 2 2618 DETACHD
1501 KOAWOOD DR $499,000 4 3 2993 DETACHD
2766 GREENTREE RD $499,500 5 2 3000 DETACHD
5554 ROYAL OAKS DR $535,000 3 2 1861 DETACHD
2744 TOLKIEN LN $649,900 4 3 3888 DETACHD
2481 MARYLSHIRE LN $700,000 5 3.1 4154 DETACHD
3211 WESTVIEW CT $722,500 4 3.1 3325 DETACHD
144 LEONARD ST $749,900 4 3.1 3552 DETACHD
17660 STAFFORD RD $795,000 4 3 3318 DETACHD
1944 PALISADES TERRACE DR $839,000 4 2.1 4256 DETACHD
18108 PILKINGTON RD $895,000 3 3.1 4105 DETACHD
18002 Kelok RD $899,000 4 3 3513 DETACHD
17641 CARDINAL DR $915,000 4 3 2461 DETACHD
752 8TH ST $1,090,000 4 3.1 4550 DETACHD
752 E AVE $1,098,950 3 3 2818 DETACHD
16777 PHANTOM BLUFF CT $1,400,000 4 2.2 5045 DETACHD
425 G AVE $1,400,000 4 2.2 3890 DETACHD
2926 LAKEVIEW BLVD $2,595,000 4 4.1 4902 DETACHD
616 CABANA LN $2,795,000 4 4 3800 DETACHD

PENDING SALES (July 15-21, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
47 EAGLE CREST DR #30 $64,900 1 1 666 CONDO 168
4654 LOWER DR #A2 $95,000 2 1.1 1206 CONDO 563
47 EAGLE CREST DR #60 $139,900 3 2 1026 CONDO 61
5966 WASHINGTON CT $229,000 3 1.1 1445 DETACHD 5
1223 HEMLOCK ST $285,000 2 1 748 DETACHD 2
1280 OAK TER $299,900 3 2 1990 DETACHD 3
29 MORNINGVIEW CIR $440,000 3 2.1 2280 DETACHD 3
16907 CHERRY CREST DR $499,000 4 3.1 3480 DETACHD 24
13710 KNAUS RD $499,900 3 2.1 2021 DETACHD 3
16966 SUMMER PL $515,000 4 2.1 3065 DETACHD 30
785 9TH ST $549,000 3 2.1 2477 DETACHD 51
45 AQUINAS ST $554,000 3 2.1 2981 DETACHD 32
5482 BAY CREEK DR $564,900 4 2.1 2554 DETACHD 5
524 WEIDMAN CT $629,000 4 2.1 3450 DETACHD 249
4860 HASTINGS DR $645,000 4 2.1 2942 DETACHD 21
5676 SUNCREEK DR $799,900 4 3.1 3312 DETACHD 102
18383 OLD RIVER DR $850,000 4 4.1 4548 DETACHD 105

SOLD (July 15-21, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
4619 LAKEVIEW BLVD #D3 $79,000 $61,000 1 1 753 CONDO 418
208 RIDGEWAY RD $135,500 $129,000 1 1 778 CONDO 48
6053 FERNBROOK ST $317,900 $280,000 3 1 912 DETACHD 18
17808 CARDINAL PL $339,000 $345,000 3 2 1815 DETACHD 1
6338 WASHINGTON CT $349,900 $361,000 3 1.1 1558 DETACHD 2
14446 Holly springs RD $379,000 $385,000 3 2.1 1699 DETACHD 67
3554 TEMPEST DR $399,000 $399,000 3 2.1 2279 DETACHD 57
2510 PARK RD $395,000 $412,000 3 2.1 1960 DETACHD 29
1467 GREENTREE CIR $420,000 $412,500 3 2 1896 DETACHD 57
1270 HIDE A WAY CT $418,000 $421,000 3 2.1 1907 DETACHD 1
8 HOTSPUR ST $469,000 $424,250 3 2.1 1954 DETACHD 56
16976 CHERRY CREST DR $510,000 $490,000 4 2.1 2655 DETACHD 18
4663 BLACK FOREST CT $525,000 $499,000 4 2.1 2168 DETACHD 20
4078 MELISSA DR $535,000 $530,000 4 2.1 2691 DETACHD 3
2011 RIDGEWOOD LN $549,000 $544,282 5 3.1 3012 DETACHD 23
425 G AVE $550,000 $550,000 LOT DETACHD 0
13576 PETERS RD $715,000 $550,000 4 3.1 3284 DETACHD 183
12994 SIERRA VISTA DR $564,500 $558,000 4 3.1 3824 DETACHD 430
20 CELLINI CT $594,000 $610,000 4 3 2876 DETACHD 4
12442 SW 22ND AVE $773,750 $765,000 4 3.1 3834 DETACHD 3
2060 Indian Trail $850,000 $820,000 3 2.1 2377 DETACHD
3155 UPPER DR $845,000 $845,000 4 3 2950 DETACHD 0
2965 TOLKIEN LN $949,800 $915,000 4 2.1 4337 DETACHD 52

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

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Open Houses ~ July 21, 2013!

Sunday should be a beautiful day to tour these 26 Open Houses!
Enjoy:

Address L/Price # Beds # Baths Total SF Style Time
12808 BOONES FERRY RD $279,000 3 2.1 1174 TOWNHSE 1-3PM
17521 HILL WAY $344,900 3 2 2283 RANCH 2-4PM
1733 Kilkenny RD $349,000 3 1.1 1654 RANCH 1-3PM
31 ORIOLE LN $375,000 3 3 1968 CONTEMP 12-2PM
5195 FIRWOOD RD $379,000 3 3 1926 CONTEMP 12-3PM
1023 LUND ST $399,000 4 2.1 2313 MIDCMOD 1-3PM
2 ABELARD ST $439,900 3 3.1 2435 DAYRNCH 1-3PM
1 HIDALGO ST $448,500 3 2.1 2489 TRI 1-3PM
4860 CENTERWOOD ST $479,000 5 2.1 2533 CONTEMP 1-3PM
1287 ROCKINGHORSE LN $499,000 3 2 1686 RANCH 11AM-3PM
1501 KOAWOOD DR $499,000 4 3 2993 TRI 1-4PM
17730 MARYLBROOK DR $525,000 3 2.1 2951 2STORY 2-5PM
2103 RIDGEWOOD RD $599,000 3 2 1648 RANCH 2-4PM
5267 LAKEVIEW BLVD $724,900 4 3.1 3454 CRAFTSM 1-3PM
17660 STAFFORD RD $795,000 4 3 3318 CONTEMP 2-4PM
16805 SCOTT CT $868,000 4 3.1 4321 CUSTOM 2-4PM
18108 PILKINGTON RD $895,000 3 3.1 4105 TRAD 1-3Pm
4540 SW LAMONT WAY $899,950 4 2.1 3555 CUSTOM 1-3PM
17485 CARDINAL DR $1,195,000 4 3.1 3307 RANCH 1-4Pm
1221 FOREST MEADOWS WAY $1,200,000 3 3 4150 CUSTOM 1-3PM
18325 CRESTLINE DR $1,275,000 5 4 5784 CONTEMP 2-5PM
853 D AVE $1,350,000 4 3.1 4710 TRAD 2-4PM
18820 GREENBLUFF DR $1,375,000 4 4.1 5382 CUSTOM 12-3PM
112 NORTHSHORE CIR $1,560,000 3 3.1 3632 TRAD 11AM-5PM
3214 LAKEVIEW BLVD $4,290,000 4 5.1 5800 MEDIT 1-4PM
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News & Notes

Here is the latest data for you on the overall Portland area, as well as specific Lake Oswego/West Linn (RMLS lumps them together) activity:

June numbers were very good, as we’d expect given the trends lately. That said, the trend upward in all numbers cooled just a bit.  Most believe this was due to some fluctuation in mortgage rates in June that had some people re-figuring their numbers.  I’ve also seen quite a few people trying to grab houses before they go to someone else, and then changing their mind about that particular home.  Bottom line, the market is hot, AND, think before you offer. Make sure you Love it : )

According to the RMLS Market Action Report for the Portland Metro Area June, 2013:

  • At 2,511, Closed Sales were a 6.4% decrease from May, and a 11.9% increase over June of 2012.
  • There were 3,751 New Listings in June. This was a drop of 2.1% from May, and an increase of 16.9% over June of 2012.
  • The Average Sale Price in May was $313,900, down $3,000. from $316,600 in May 2013.  …Average Sale Price in June 2012 was $284,100.
  • Pending Sales (accepted offers) also decreased a bit from May 2013, from 2978  to 2804  in June.

For our Property Blotter readers, the combined area of Lake Oswego and West Linn reported a mixed bag of up in some categories and slightly down in others:

    • 517 Active Listings
    • 238 New Listings
    • 152Pending Sales
    • 174 Closed Sales
    • An average Sale Price of $447,800.
    • Average Time on the Market: 74Days
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Market Activity July 8-14, 2013

Last week in Lake Oswego there were 20 new listings, 33 pending sales, and 16 closed sales.
Here is the breakdown of activity according to RMLS:

NEW LISTINGS (July 8-14, 2013):

Address Type Price BR Bths SF
200 Oswego Summit Condo $145,000 2 2 1383
45 Eagle Crest Dr #401 Condo $199,500 3 2 1348
5966 Washington Ct Detached $229,000 3 1.5 1445
1484 Boca Ratan Dr Attached $229,900 3 1.5 1403
668 McVey Ave #45 Condo $246,400 2 1 836
791 Briercliff Ln Detached $374,900 3 2.5 1736
1250 Hemlock St Detached $449,950 5 2 2656
246 Greenwood Rd Detached $589,900 3 3 1899
2103 Ridgewood Rd Detached $599,000 3 2 1648
1981 Summit Dr Detached $647,500 3 2.5 2579
5670 Charles Circle Detached $650,000 4 2.5 3070
19364 River Run Dr Detached $679,000 5 3.5 3010
17632 Woodhurst Pl Detached $724,900 5 4.5 4423
5267 Lakeview Blvd Detached $724,900 4 3.5 3454
4540 Lamont Way Detached $899,950 4 2.5 3555
622 Carrera Ln Detached $995,000 4 4.5 5446
735 7th St Detached $999,999 3 3.5 2945
13801 Knaus Rd Detached $1,198,000 4 2 2420
14005 Goodall Rd Detached $1,350,000 4 3.5 4825
1345 Cherry Ln Detached $1,499,000 4 3.5 5259

PENDING SALES (July 8-14, 2013)

Address Type Price BR Baths SF DOM
68 Galen Condo $110,000 2 1 923 40
4105 Jefferson Pkwy Condo $215,000 2 2.5 1359 11
6 The Grotto Detached $309,900 3 2 1381 14
14854 Twin Fir Rd Detached $310,000 3 2 1287 4
5895 Burma Rd Detached $334,900 4 2.5 1781 72
4700 Lower Dr Detached $339,000 3 2.5 1747 147
540 2nd St Condo $359,900 2 2.5 1520 18
16200 Terrace Dr Detached $400,000 3 2 2085 2
15509 Frost Ln Detached $449,900 4 2.5 2364 77
31 Walking Woods Dr Detached $450,000 4 3 2889 19
303 Lake Bay Ct Detached $459,900 3 2.5 1560 68
732 Clara Ct Detached $460,000 4 3.5 2935 104
1440 Greentree Circle Detached $469,900 4 3 2488 3
207 Evergreen Rd Attached $470,000 3 3.5 1789 3
9 Bernini Rd Detached $495,000 3 2.5 3166 18
13520 Knaus Rd Detached $575,000 4 3 2641 2
12 Juarez St Detached $579,000 4 3.5+.5 3735 26
4755 Avery Ln Detached $599,000 4 2.5 2735 1
19305 Riverwood Ln Lot 1w Detached $609,654 4 4 3110 0
19318 Riverwood Ln Lot 8w Detached $611,451 5 4 3110 0
17766 Marylcreek Dr Detached $639,000 4 3.5 4472 1110
4076 Orchard Dr Detached $699,500 4 3.5 3991 10
17692 Woodhurst Pl Detached $775,000 4 2.5 3890 24
5507 Bay Creek Dr Detached $799,900 5 3.5 3900 40
14100 Taylors Crest Ln Detached $819,000 4 2.5 4087 43
15559 Village Dr Detached $900,000 4 2.5 3458 0
642 8th St Detached $949,900 4 2.5+.5 3293 220
5320 Childs Rd Detached $949,950 5 3 4539 107
12700 Fielding Rd Detached $997,500 3 3 3025 115
792 5th St Detached $1,195,000 4 4.5 4379 21
17809 Kelok Rd Detached $1,249,000 5 3.5 3700 22
17618 Crestline Dr Detached $1,295,000 4 3.5+.5 6317 119

SOLD (July 8-14, 2013)

Address Type List Price Closed Price Sq Ft CDOM
4 Touchstone Dr #146 Condo $108,000 $105,150 979 15
4043 Jefferson Pkwy Condo $165,000 $155,000 1182 31
5225 Jean Rd #108 Condo $179,000 $170,000 1500 16
8 Weatherstone Condo $309,000 $309,000 1,692 2
6024 Fernbrook Circle Detached $344,900 $344,500 1470 97
1257 Hallinan Circle Detached $375,000 $380,000 2548 24
18357 Heather Ann Ct Detached $399,900 $403,000 1832 58
18207 Westminster Dr Detached $489,000 $485,000 2258 9
3500 Lanewood St Detached $499,900 $525,000 2217 3
17485 Brookhurst Dr Detached $749,500 $730,000 4550 37
15508 Diamond Head Rd Detached $1,095,000 $815,000 3715 264
19371 SW Riverwood Ln Detached $1,120,000 $875,600 5048 244
740 7th St Detached $995,000 $995,000 5431 0
16545 Maple Circle Detached $1,395,000 $1,325,000 3800 233
1607 Lakefront Rd Detached $1,649,000 $1,500,000 4012 376
910 Northshore Rd Detached $3,595,000 $3,250,000 5,203 366

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

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Buying Pointers

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Your home is likely the single biggest purchase you will ever make. You want to do it right. You want to find the right house, at the right price, and experience the best deal possible. Of course as a Realtor I am going to suggest that you use a Realtor, but I actually have thoughts beyond that that I thought I would share with you.

Get Pre-Qualified
Use a good reputable lender who will tell you what you can afford. This accomplishes two things: you know you are looking at houses that you can actually buy, and it gives you strength in negotiating. With out a letter stating that you are pre-qualified, a person selling real estate will not take you seriously.

Check your thinking
Buying a home is a pretty personal experience. You end up sharing extremely personal information with your lender and your Realtor. It takes a good deal of your time, which makes the rest of your life more stressful. Knowing this, here are my pearls of wisdom:

1. Be honest with everyone up front. If you have credit problems, tell your lender and let him/her help you to fix them. If you hate day-light basement homes, tell your Realtor so that he/she doesn’t waste your time showing them to you. Communication is king!

2. Be prepared to jump quickly when a good house comes onto the market. If it’s a nice house that is well priced, you won’t be the only person who wants it. These nice houses are currently selling fast. Your Realtor is not trying to pressure you when they tell you there are other offers or that they are of the opinion that there will be other offers. This is the current market. So be prepared to make decisions quickly.

3. Do a thorough home inspection. Today it is common to video scope the sewer line and test for radon, along with the standard full-house inspection. If it’s an older home, ask about previous in-ground oil tanks. If the seller has no knowledge, have the yard scanned for a tank. Know your options about inspections by visiting http://www.oregonfirst.com/buyer_advisory

4. Be patient with your loan officer. A good loan officer is much like a coach. They collect all of the information from you that they anticipate you needing to be approved by the bank’s underwriter, then they throw you into the game. Sometimes, well, actually lots of times, the underwriter throws your file back to the loan officer and asks for more data. It is aggravating as all get out, but all of the banks are doing it. It is not your loan officer picking on you. They are working very hard to get you your loan.

5. Don’t make any purchases on credit while in escrow. Your credit and employment will both be checked again just before closing. Any major changes could put everything on the skids. I had a sale get delayed by 3 weeks because the buyer went to a large retail store and maxed out a credit card on new stuff for the house. It took 3 weeks to pay off the new balance and get the credit score back up to a number that final underwriting would approve.

6. Be flexible with the closing date. Everyone is working towards the same goal of completing the purchase, but everything is just taking longer. It feels to me like lenders are working right up until the target closing date and then not giving title companies enough time to get everyone signed. Most transactions are closing 1-7 days late. So if you have lined up your moving truck and have all your stuff in the driveway, it’s going to be stressful. Build in a buffer, if you can. Arrange to stay in your current housing for about a week following the target closing date. This will save you lots of stress and, if it closes right on time, give you time for a leisurely move.

7. Go to http://www.oregonfirst.com/buyer_advisory you’ll find info on so much more than I have covered here. It is a great resource.

I hope you find this helpful. Don’t hesitate to contact Linda or myself if you have questions. As always, we love what we do and we are here to help.
Dianne

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Market Activity ~ July 1-7, 2013

Last week there were 17 New properties entering the market, 18 moving to Pending status, and 24 that “Closed”/Sold.
Here is the breakdown of activity according to RMLS:

NEW SALES (July 1-7, 2013):

Address List Price # Beds # Baths Total SF Prop Type
4105 JEFFERSON PKWY $215,000 2 2.1 1359 CONDO
12808 BOONES FERRY RD $279,000 3 2.1 1174 CONDO
5813 SW KENNYCROFT WAY $292,500 3 1 1182 DETACHD
14854 TWIN FIR RD $310,000 3 2 1287 DETACHD
1640 ASPEN ST $359,000 4 2.1 2218 DETACHD
1023 LUND ST $429,000 4 2.1 2313 DETACHD
16878 GASSNER LN $499,000 4 2 2998 DETACHD
3300 SOUTHSHORE BLVD $515,000 1 2.2 1162 DETACHD
18453 TAMAWAY DR $609,900 4 2.1 2750 DETACHD
19524 RIVER RUN DR $638,950 4 2.1 2630 DETACHD
18343 Anduin TER $649,900 4 2.1 3000 DETACHD
624 ATWATER RD $1,089,000 5 3.1 4463 DETACHD
17301 Canal CIR $1,099,000 3 2.1 1812 DETACHD
4800 UPPER DR $1,250,000 5 5 5016 DETACHD
17353 CANAL CIR $1,795,000 5 4 3329 DETACHD
1455 LAKE FRONT RD $3,200,000 6 5.2 6145 DETACHD

PENDING SALES (July 1-7, 2013)

Address List Price # Beds # Baths Total SF Prop Type CDOM
4619 LAKEVIEW BLVD #D3 $61,000 1 1 753 CONDO 418
47 EAGLE CREST DR #55 $62,000 1 1 672 CONDO 8
57 GALEN ST $69,900 1 1 689 CONDO 1
360 CERVANTES CIR #14F $114,500 2 1 832 CONDO 36
188 Oswego Summit $139,950 2 2 1383 CONDO 19
4 TOUCHSTONE DR #74 $153,000 3 2.1 1351 CONDO 286
4458 THUNDER VISTA LN $225,000 2 2.1 2200 CONDO 15
17808 CARDINAL PL $339,000 3 2 1815 DETACHD 1
4090 VIRGINIA WAY $399,900 3 2 1456 DETACHD 6
1270 HIDE A WAY CT $418,000 3 2.1 1907 DETACHD 1
18781 INDIAN CREEK WAY $455,000 4 2.1 2355 DETACHD 3
14066 CHATHAM CT $574,900 5 2.1 2800 DETACHD 6
4102 CHAD DR $614,950 4 2.1 2987 DETACHD 51
4605 CHELSEA LN $649,900 4 2.1 3411 DETACHD 18
18460 RAY RIDGE DR $650,000 3 2.1 3241 DETACHD 114
18520 DELENKA LN $1,299,000 4 4 5986 DETACHD 381
1505 LAKE FRONT RD $2,250,000 4 3.1 4927 DETACHD 54

SOLD (June 1-7, 2013)

Address O/Price Close Price # Beds # Baths Total SF Prop Type CDOM
11 Oswego Summit #11 $149,000 $130,000 2 2 1212 CONDO 12
15472 BRIANNE CT $239,000 $225,000 2 2.1 1208 ATTACHD 50
10 WALKING WOODS DR $250,000 $285,000 3 2.1 2194 DETACHD 602
3550 LAKE GROVE AVE $349,900 $319,000 3 2 1577 DETACHD 423
14550 DORIS AVE $349,900 $338,000 3 1.1 1474 DETACHD 1053
342 LIVINGOOD LN $400,000 $390,000 4 2.1 2384 DETACHD 5
4914 MULHOLLAND DR $439,900 $441,900 3 2.1 2500 ATTACHD 2
12 MONTICELLO DR $499,000 $450,000 4 2.1 3658 DETACHD 7
828 5TH ST $519,000 $519,000 2 2 1248 DETACHD 2
10 SCARBOROUGH DR $560,000 $527,500 4 3 3537 DETACHD 17
12723 ADRIAN CT $569,950 $545,000 4 3 3219 DETACHD 35
18235 MORIA CT $550,000 $550,000 3 2.1 2898 DETACHD 0
32 HILLSHIRE DR $619,900 $582,500 4 2.1 3605 DETACHD 68
5670 MERIDIAN CT $600,000 $587,100 4 2.1 2779 DETACHD 3
16723 BONAIRE AVE $619,500 $623,433 4 3 2847 DETACHD 6
18255 TAMAWAY DR $649,000 $630,000 4 2.1 3457 DETACHD 28
557 2nd ST #205 $680,000 $650,000 2 2.1 1833 CONDO 63
5384 WASHINGTON CT $699,900 $675,000 4 3.1 3228 DETACHD 43
1222 GLENMORRIE DR $699,999 $675,000 4 3 2875 DETACHD 49
3480 UPPER DR $749,000 $753,000 3 2.1 2571 DETACHD 17
17340 CARDINAL DR $885,000 $870,000 4 3 3417 DETACHD 120
310 IRON MOUNTAIN BLVD $1,100,000 $900,000 4 2.2 3503 DETACHD 539
14106 Goodall RD $939,500 $923,000 4 3.1 3597 DETACHD 80

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

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July 4th Weekend ~ Sunday Open Houses!

July 4We hope you’ve been enjoying this 4th of July holiday. What a gorgeous weekend to look for that perfect “one”!   …Your new home that is : )

Dianne and I are running around with our clients as usual, but are never too busy for our Property Blotter readers!  As always, we’re here to help you if you are not working with a Realtor and need some assistance in Lake Oswego.

Below you’ll find a fine line-up of homes on tour Sunday according to RMLS.

Enjoy!

Address L/Price # Beds # Bath Total SF Open
4000 CARMAN DR #60 $155,000 2 2 866 1-3PM
45 EAGLE CREST DR #119 $179,900 3 2 1348 1-4PM
4105 JEFFERSON PKWY $215,000 2 2.1 1359 12-2PM
4956 GALEN ST $419,000 3 2.1 2431 1-3PM
837 COUNTRY CLUB RD $425,000 4 3 1750 2-4PM
31 WALKING WOODS DR $450,000 4 3 2889 1-3PM
20 WALKING WOODS DR $475,000 5 3 3144 1-3PM
17730 MARYLBROOK DR $525,000 3 2.1 2951 2-4PM
5272 TUALATA LN $549,000 4 3 2529 1-3PM
5555 FIELDSTONE CT $589,500 3 2.1 2664 12-3PM
5960 CLAIRMONT CT $685,000 4 2.1 3000 1-3PM
112 NORTHSHORE CIR $1,560,000 3 3.1 3632 11AM-4PM
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Market Activity June 24-30, 2013

Along with our heat wave, last week brought us a sizzling real estate market. 24 new listings, 21 pendings sales, and 21 closed sales, it’s feeling a lot like summer.
Here is the breakdown of activity according to RMLS:

NEW LISTINGS (June 24-30, 2013):

Address Type Price BR Bths SF
47 Eagle Crest Dr #55 Condo $62,000 1 1 672
172 Oswego Summit Condo $99,900 2 2 1383
44 Eagle Crest Dr #29 Condo $134,900 1 1 798
4204 Woodside Circle Attached $269,900 2 2 1308
18420 Don Lee Way Detached $275,000 3 1 924
6 The Grotto Detached $309,900 3 2 1381
16624 Roosevelt Ave Detached $330,000 2 2 2802
540 2nd St Condo $359,900 2 2.5 1520
31 Oriole Ln Detached $375,000 3 3 1968
4200 Westbay Rd Detached $419,000 2 1 944
15509 Partridge Dr Detached $419,900 4 3 2299
4779 Heritage Ln Detached $429,000 3 2 2121
1 Hidalgo St Detached $448,500 3 2.5 2489
14071 Sundeleaf Dr Detached $449,900 5 3 2600
1287 Rockinghorse Ln Detached $499,000 3 2 1686
6 Hillshire Dr Detached $519,000 5 3 3254
14066 Chatham Ct Detached $574,900 5 2.5 2800
5206 Royal Oaks Dr Detached $585,000 5 3.5 3038
4860 Hastings Dr Detached $645,000 4 2.5 2942
2478 Marylview Ct Detached $679,900 5 3 3526
1273 Wells St Detached $869,000 4 3 4000
2943 Lakeview Blvd Detached $1,095,000 4 3 3794
2135 Ridge Pointe Dr Detached $1,275,000 4 4.5+.5 6755
12 Dover Way Detached $1,799,900 5 5.5+.5 7658

PENDING SALES (June 24-30, 2013)

Address Type Price BR Baths SF DOM
284 Cervantes Circle Condo $104,500 2 2 1052 142
6053 Fernbrook St Detached $299,000 3 1 912 18
5311 Chinook CT Detached $299,900 3 2 1488 4
85 Laurel St Detached $360,000 4 3 2820 49
3554 Tempest Dr Detached $399,000 3 2.5 2279 57
13395 Vermeer Dr Detached $439,000 4 2.5 2461 7
732 Clara Ct Detached $460,000 4 3.5 2935 84
980 Cumberland Pl Detached $475,000 3 2 2791 7
4031 Old Gate Rd Detached $499,900 4 3.5 3704 348
134 Del Prado St Detached $569,000 5 3 3972 21
13210 Deerfield Ct Detached $649,900 4 2.5 3341 66
17151 Wall St Detached $675,000 5 4 4141 53
2833 Rivendell Rd Detached $718,000 4 2.5 3093 17
13680 Knaus Rd Detached $749,000 3 2.5 3006 57
17797 Marylcreek Dr Detached $775,000 3 4 3220 10
2719 Rivendell Rd Detached $799,000 4 2.5 3554 36
3012 Rivendell Rd Detached $889,000 5 4.5 4607 71
15508 Diamond Head Rd Detached $1,095,000 3 4 3715 264
17900 Crestline Dr Detached $1,599,000 5 3.5 4738 212
18210 Crestline Dr Detached $1,600,000 3 3 3725 0
693 Terrace Dr Detached $1,898,000 4 3 3296 282

SOLD (June 24-30, 2013)

Address Type List Price Closed Price Sq Ft CDOM
200 Burnham Rd #400 Condo $149,000 $100,000 948 652
5881 Fernbrook Circle Detached $254,900 $250,000 1416 11
88 Kingsgate Rd Detached $299,500 $300,000 1675 8
1425 Greentree Circle Detached $339,000 $339,999 1,809 8
19060 Indian Springs Circle Detached $359,000 $348,000 1355 47
1288 Rockinghorse Ln Detached $382,500 $370,000 1742 111
5745 Windfield Loop Detached $369,900 $370,000 1885 22
4241 Chapman Way Detached $445,000 $380,000 2440 277
598 Milburn Ct Detached $399,900 $390,000 3036 6
1550 Bedford Ct Detached $409,000 $404,000 2359 4
31 Nova Ct Detached $423,000 $419,000 2106 10
1407 Greentree Circle Detached $459,000 $438,000 2201 8
730 Briercliff Ln Detached $465,000 $465,000 3275 6
13658 Shireva Dr Detached $570,000 $535,000 3502 31
5880 Meadowcreek Ct Detached $625,000 $600,000 2905 5
3130 Westview Ct Detached $649,000 $620,000 3,900 83
3201 Fir Ridge Rd Detached $699,000 $675,000 2571 54
14146 Edenberry Dr Detached $725,000 $677,600 3100 35
940 Cumberland Rd Detached $799,000 $750,000 3062 71
760 7th St Detached $969,000 $940,000 4536 33
13728 Knaus Rd Detached $1,025,000 $1,025,000 4041 2

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

Posted on

Open Houses 6/30/13

It’s a beautiful summer weekend. Perfect for touring some wonderful homes. This Sunday in Lake Oswego there are 24 open houses scheduled. Enjoy!

Address Price Type Bedroom Bath Open
4 Touchstone #126 $115,000 Condo 2 2 3 to 5
4458 Thunder Vista Ln $225,000 Attached 2 2.5 1 to 4
4302 Botticelli St $245,000 Attached 3 3.5 11 to 2
15205 Boones Way $299,900 Attached 3 2 12 to 2
31 Oriole Ln $375,000 Detached 3 3 11 to 1
600 Tippecanoe Ct $375,000 Detached 3 2 1 to 3
13198 Peters Rd $434,500 Detached 3 2.5 2 to 6
14071 Sundeleaf Dr $449,900 Detached 5 3 1 to 3
16933 Greentree Ave $479,000 Detached 3 2.5 1 to 3
4890 Sage Hen Circle $479,900 Detached 4 2.5 12 to 2
6192 Harrington Ave $489,500 Detached 5 3 1 to 3
16907 Cherry Crest Dr $499,000 Detached 5 3.5 2 to 4
16966 Summer Pl $525,000 Detached 4 2.5 1 to 3
6 Juarez St $540,000 Detached 4 3.5 3 to 5
5272 Tualata Ln $549,000 Detached 4 3 1 to 3
4121 Hedge Nettle Ct $552,500 Detached 3 2.5 1 to 3
45 Aquinas St $554,000 Detached 3 2.5 1 to 4
13265 Fox Run $659,000 Detached 4 2.5 12 to 2
4540 Lamont Way $919,950 Detached 4 2.5 1 to 3
18325 Crestline Dr $1,275,000 Detached 5 4 1 to 4
17485 Cardinal Dr $1,295,000 Detached 4 3.5 1 to 4
17618 Crestline Dr $1,295,000 Detached 4 3.5+.5 1to 4
853 D Ave $1,350,000 Detached 4 3.5 2 to 4
112 Northshore Circle $1,575,000 Detached 3 3.5 11 to 4
Posted on

LO Housing Snap Shot

I get a kick out of looking at statistics. If you have been reading the blotter for a few years, you’ll also know that I like to do a comparison of most expensive in LO versus least expensive. LO is known for expensive, lake-front homes. However, that is not the definition of Lake Oswego real estate. There is actually quite a wide variety of house values in Lake Oswego. With all of this in mind, I decided to put together a reference chart so that you and I can both see the last 8 years market activity, based upon price range.

I took some liberties here. I lumped the expensive inventory into $2,000,000+. I also lumped the less expensive inventory into $100,000-$300,000. In both cases I did this because there just simply isn’t a lot of houses at either extreme of the spectrum. In between I broke it down into $100,000 increments, but for the sake of time, stopped at $700,000. I may go back and look at the $700,000 to $2,000,000, but that would be in another post.

One last liberty that I took: I did a 2013 January to July and then using that number, projected the full year. There are lots of variables that could affect this final number, so this one is pretty speculative.

These are all single-family, detached homes and not condos.

Here is what I found:

Homes Priced $2,000,000 to $30,000,000 Homes Priced $400,000 to $500,000
2013 1st Six Months/Projected 3/6 2013 1st Six Months/Projected 75/150
2012 7 2012 108
2011 4 2011 86
2010 3 2010 86
2009 8 2009 74
2008 3 2008 74
2007 12 2007 112
2006 7 2006 135
Homes Priced $600,000 to $700,000 Homes Priced $300,000 to $400,000
2013 1st Six Months/Projected 40/80 2013 1st Six Months/Projected 70/140
2012 47 2012 125
2011 45 2011 124
2010 39 2010 113
2009 36 2009 105
2008 46 2008 74
2007 69 2007 94
2006 79 2006 94
Homes Priced $500,000 to $600,000 Homes Priced $100,000 to $300,000
2013 1st Six Months/Projected 53/106 2013 1st Six Months/Projected 39/78
2012 92 2012 130
2011 59 2011 111
2010 76 2010 79
2009 51 2009 51
2008 52 2008 12
2007 97 2007 13
2006 97 2006 21

Here are some of my personal observations:

Those $2,000,000+ houses were selling pretty well before the recession with 12 sold in 2007. They dropped off a bit in the recession, but look at 2009. In the depth of the recession more were sold than were sold in 2006, a peak boom year. 2013 we are on track to be about where we were at in 2012. This market feels stable, to me, but not a sellers market by any shape of the imagination.

In the $600,000 to $700,000 range the market demand dropped by 50% from 2006 to 2009. This price range suffered during the recession. My projection for 2013 puts this price range demand right back where it was pre-recession.

The $500,000 to $600,000 range dropped by nearly 50% between 2006 and 2009, but looking at 2012 and at my projection for 2013, the demand for this price range appears to have recovered.

In the $400,000 to $500,000 range there was a 50% drop in demand from 2006 to 2009. My projection for this year puts the demand at 110% of what it was in 2006. This price range is in high demand.

In the $300,000 to $400,000 range the market is pants on fire. In 2006 94 houses sold in this price range, in 2012 125 sold, and my projection for 2013 is 140. The catch here is that prices are going up so this inventory is shrinking. There may not be enough new listings in this range to meet the demand and so the projection I have done will probably be restricted by lack of homes available.

In the $100,000 to $300,000 range there are only 5 properties currently for sale. In 2006 just 21 homes sold for under 300K. I find this part really interesting. Even in this super affordable part of the Lake Oswego market, in the depth of the recession, there was a fall off of demand. 2008 had just 12 houses sold: anemic for sure. Then look at 2009 and 2010. These were the years of the “first-time home buyer incentive” that was part of the Federal stimulus deal. From 2008 to 2009 there was a 400% increase in sales in this price range. In 2012 130 homes were sold in Lake Oswego for under $300,000. This part of the market is a sellers paradise. This year there have been 39 sales. If I projected the same level of demand to the end of the year that would mean 78 sales. The catch? There are only 5 active listings under $300,000. So that is not going to happen. And the reason there were so few sales in 2006 in this price range? It wasn’t because there was a lack of demand. It was because there was a lack of inventory. So this part of the market has recovered very nicely, indeed.

This brings me back to my original curiosity. What is the most and least expensive house currently for sale in LO?

At a modest price of $9,998,000 you can buy a 13,462 square foot, main-lake home. It features 5 bedrooms, 6 full baths, and 2 half baths. Built in 2009 it has every modern amenity you could imagine.

At a slightly more modest price of $225,000 you can buy at 1050 square foot home on a slightly-busy street. It features 3 bedrooms and 1-full bath. Built in 1920 it has a carport and is on a nice sized lot.

I hope you found this enlightening. Statistics can be fun.
Dianne