Tax Credit ~ The First-Time Home-Buyers’ $8,000. Tax Credit is, of course, the talk of the town (the nation, actually). It is acknowledged that it is and has been helpful in spurring the real estate market (activity in related price ranges is steady if not occasionally feverish… especially lately!) There is much talk about extending the deadline from the current November 30th date to an as-yet-undetermined date in 2010. While it is generally agreed that the housing market is turning the corner, and a large part of this growth is related to the tax credit, there is also concern being expressed about dispersing more government money in light of recent history. So… nothing is decided as of now. There are talks about plans to:
Extend it to all home-buyers,
Not extend it at all,
Increase it to $15,000.,
Extend it and keep the terms the same,
Offer it only to service members who have been out of the country,
Etc.
The important thing to remember if you are a first-time home-buyer, or care about one, is that right now there is an opportunity to get an $8,000. tax credit. That means real money coming to you when you file for 2009. We do NOT know how the debate will play out regarding extending or not extending it… AND right now there is still time to take advantage of it, but you must act now.
Oil Tanks (Reminder & Update) ~ The standards for levels of contaminants are under review. In particular, ethyl benzene and naphthalene have been changed to a “carcinogenic” classification, and therefore cleanup requirements are also changing. There is now concern over the possibility of fumes potentially penetrating a home from underground & causing harm. Remember, if you have an oil tank underground on your property that has not been decommissioned, or if you are a Buyer considering a property with one: Underground oil tanks have a life of approximately 40 years. After that, they leak… and what they leak is toxic. Homeowners can be held liable for damage to soil from leaking tanks, and therefore, proper soil testing and decommissioning through a DEQ-certified environmental service is the wise choice. If you are a Seller in this situation, I would highly recommend just doing this now and getting it out of the way. It makes your home more attractive to potential Buyers, removes an objection, and protects you and the environment at the same time.
Loans ~ There are truly all kinds of loans out there right now for all kinds of Buyers. FHA loans are a current favorite, and the FHA 203 (b) is a little easier to qualify for than most conventional loans these days. There are also “Flex” loans for teachers (administrators & school nurses can also apply!), police, and firefighters. Other than the FHA loan I mentioned, you usually want a credit score of 640 or higher, and for all of them you’ll need 3 to 3.5% down. Talk to your favorite mortgage broker for more information, or give me a call and I can refer you to some great resources.
Homes on Slopes ~ Some precautions, in light of current information gained from recent slides in Portland, Lake Oswego and surrounding areas are worth noting:
At no point should drain water be discharged onto slopes in an uncontrolled manner. Investigate energy dissipation devices to prevent erosion at discharge points.
Make sure that any fill used on the slope is “engineer-fill”. Not all fill is able to handle the specialized drainage requirements of sloped properties.
Make sure gutters remain clear in order to prevent over-saturation in areas not able to handle runoff.
Keep drainage ditches or berms clear during the rainy season so that they do not direct water into areas where erosion & damage may occur.
Keep drain inlets, outlets and weep holes at foundation, retaining walls, driveways etc clean at all times. Remove debris to prevent clogging.
Notice any wet spots on the property. This may indicate either natural seepage, or leaking water or sewer line problems. Seek professional advice immediately.
Regularly check irrigation systems. Drip systems are preferred on hillsides.
Make sure roof drainage is not connected to a subsurface disposal system unless it has been approved by a geotechnical engineer.
Keep water from accumulating next to foundations, retaining walls or basements.
Guard against over-saturation on the hillside, as once this has occurred, damage can result very quickly and without warning.
Last week brought 17 new listings onto the market, 17 pending sales, and 9 closed sales. Of note, at least to me, is that 2 of the closed sales were condos in the 555 building on Second Street. That development is high-end condos that are all on one-level and accessed by elevators. They are ideal for someone downsizing out of their big house for retirement. It’s a great location that is walking distance to downtown, the farmer’s market, the library, and the Adult Community Center. I think the condo market has taken a worse beating in this downturn than the single family residential market. So it’s good to see a couple of these high-end condos selling.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (Sept. 21—27, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
47 EAGLE CREST DR
$119,900
2
1
932
CONDO
9/25/2009
3930 LAKE GROVE AVE
$144,900
2
1
952
CONDO
9/26/2009
15 OSWEGO SMT
$169,900
2
2
1,212
CONDO
9/24/2009
18462 DON LEE WAY
$239,500
4
2
1,904
DETACHD
9/22/2009
5056 FOOTHILLS DR
$299,900
2
2
1,252
CONDO
9/21/2009
1709 ASPEN CT
$317,000
3
2
1,561
DETACHD
9/23/2009
18620 INDIAN CREEK DR
$424,000
3
2
2,046
DETACHD
9/23/2009
1790 YARMOUTH CIR
$424,995
2
2
1,473
DETACHD
9/21/2009
4 ICARUS LOOP
$449,000
4
2.1
2,743
DETACHD
9/27/2009
17336 HUNTER CT
$549,900
3
2.1
3,004
DETACHD
9/24/2009
1060 UPPER DEVON LN
$674,900
3
2.1
2,460
DETACHD
9/23/2009
5124 ROSEWOOD ST
$685,950
5
3.1
3,510
DETACHD
9/23/2009
18096 PILKINGTON RD
$749,000
4
2.1
3,200
DETACHD
9/23/2009
467 9th ST
$775,000
3
2.1
2,700
DETACHD
9/25/2009
453 9th ST
$775,000
3
2.1
2,700
DETACHD
9/25/2009
2445 GLENMORRIE DR
$1,495,000
4
5
4,663
DETACHD
9/22/2009
1870 TWIN POINTS RD
$2,200,000
4
3
4,448
DETACHD
9/22/2009
PENDING SALES (Sept 21 -27, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
Close Price
List Price
# BR
# BTHS
Total SF
Prop Type
CDOM
340 CERVANTES CIR
$110,000
2
1.1
912
CONDO
122
32 OSWEGO SMT
$124,900
1
1
752
CONDO
497
86 KINGSGATE RD
$138,000
2
2
924
CONDO
172
45 EAGLE CREST DR
$139,900
1
1
768
CONDO
125
73 OSWEGO SMT
$164,900
2
2
1,212
CONDO
409
458 STATE ST
$199,900
2
1
800
CONDO
122
195 OSWEGO SMT
$219,900
2
2
1,506
CONDO
343
16651 LAKE FOREST BLVD
$239,900
3
1
1,230
DETACHD
237
16650 Fir LN
$325,000
3
2
1,384
DETACHD
20
2961 DELLWOOD DR
$350,000
3
3
2,476
DETACHD
192
17622 BROOKHURST DR
$350,000
4
2.1
2,909
DETACHD
429
627 1ST ST
$399,000
2
2
2,090
DETACHD
241
1531 WOODLAND TER
$414,000
3
2.1
1,895
DETACHD
139
13531 FIELDING RD
$650,000
4
3.1
4,629
DETACHD
463
5329 Langford LN
$719,000
3
2.1
2,962
DETACHD
302
1708 VILLAGE PARK LN
$899,000
4
2.1
3,211
DETACHD
13
17211 KELOK RD
$1,399,000
3
3.1
5,384
DETACHD
112
SOLD (Sept 21-27, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# BR
# BTHS
Total SF
Prop Type
CDOM
17928 ROYAL CT
$299,900
$267,250
3
2
1,272
DETACHD
111
4 WHEATHERSTONE
$334,950
$330,000
3
2.1
1,692
CONDO
86
126 CONDOLEA DR
$549,000
$391,500
3
3
2,664
CONDO
680
559 2ND ST
$665,115
$580,000
2
2
1,529
CONDO
923
20 DA VINCI ST
$599,900
$585,000
5
3
3,089
DETACHD
25
575 2ND ST
$832,200
$592,300
2
2.1
1,752
CONDO
887
100 GARIBALDI ST
$1,349,900
$925,000
5
3.2
4,669
DETACHD
334
1149 LAKESHORE RD
$1,295,000
$1,115,000
4
2.1
2,660
DETACHD
143
128 NORTHSHORE CIR
$1,799,000
1290000
3
3.1
3,550
DETACHD
764
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.
Sunday is going to be a great day to visit some open houses. We are enjoying a wonderful Indian Summer so the temperature will be pretty much perfect with plenty of sunshine and 28 houses being held open for your viewing pleasure.
In particular I want to point out a progressive open house tour being held in Southwood Park. 5 homes are being held open within just a couple of blocks of each other, including my listing at 13638 SW 62nd. Remember that this neighborhood is in unincorporated Clackamas County (which means low taxes), but has Lake Oswego Schools (great for kids and re-sale values). My listing was price reduced this last week from $319,900 to $299,900. That is for a house with 4 bedrooms, 3 full baths, two family rooms, and a 21 x 11 utility room. It needs some cosmetic updating, but has a 50 year metal roof, new windows, and new paint inside and out. If you visit all 5 houses on the tour, your will receive a $5 Starbuck’s gift card. Watch for hellium balloons and lots of open house signs. You’ll find my signs on Lesser Dr to follow them in to the property.
Address
List Price
# BR
# BTHS
Total SF
Prop Type
Open
1547 BOCA RATAN DR
$219,900
2
1.1
1,008
ATTACHD
1 to 3
13363 SW 64TH AVE
$264,900
3
1.1
1,120
DETACHD
1 to 4
13561 SW 62ND AVE
269000 – 289000
3
1.1
1,594
DETACHD
1 to 4
13638 SW 62ND AVE
$299,900
4
3
2,268
DETACHD
1 to 4
17752 SCHALIT WAY
$329,900
3
2
1,463
DETACHD
2 to 4
13448 SW 61ST AVE
$335,000
3
3
1,911
DETACHD
1 to 4
13224 SW 63RD AVE
$338,000
4
2.1
1,694
DETACHD
1 to 4
9 DA VINCI ST
$399,900
3
2
1,768
DETACHD
12 to 2
14371 SHERBROOK PL
$495,000
3
2.1
2,550
DETACHD
2 to 4
3254 DUNCAN DR
$500,000
4
3.1
3,997
DETACHD
2 to 4
2525 DELLWOOD DR
$519,000
5
3
2,836
DETACHD
12 to 2
4018 COHO LN
$539,000
3
2
2,489
DETACHD
1 to 4
11 MORNINGVIEW CIR
$547,000
3
2.1
2,921
DETACHD
1 to 3
14867 TWIN FIR CT
$579,000
6
3.1
3,641
DETACHD
2 to 4
2545 DELLWOOD DR
$599,000
5
3.1
3,843
DETACHD
2:30 to 4:30
1040 UPPER DEVON LN
$649,000
3
2.1
2,640
DETACHD
2 to 5
2044 RIDGEWOOD RD
$799,000
4
2
2,519
DETACHD
2 to 4
1809 HEADLEE LN
$1,125,000
2
2.1
3,836
DETACHD
1 to 3
18143 SIENA DR
$1,197,000
5
4.1
4,152
DETACHD
1 to 3
18246 BELLA TERRA DR
$1,294,000
4
3.1
4,052
DETACHD
1 to 3
17464 RIDGEVIEW LN
$1,298,950
4
3.1
4,407
DETACHD
2 to 4
622 OAK MEADOW DR
$1,325,000
4
3.1
4,171
DETACHD
2 to 4
664 OAK MEADOW DR
$1,355,000
4
3.1
4,198
DETACHD
2 to 4
18110 Siena DR
$1,394,000
4
3.1
4,311
DETACHD
1 to 3
657 OAK MEADOW DR.
$1,395,000
4
3.1
4,371
DETACHD
2 to 4
17364 RIDGEVIEW CT
$1,425,000
4
3.1
4,436
DETACHD
2 to 4
2572 GLEN EAGLES PL
$2,395,000
5
4.2
6,490
DETACHD
12 to 3
13961 KNAUS RD
$2,450,000
4
4.2
6,614
DETACHD
3 to 4:30
Enjoy the day and please take advantage of the progressive open house tour in Southwood Park.
It’s really interesting… tis the season for “freshening” listings I guess… There were 28 properties listed as New this last week & only 13 of them actually were. It bears noting that Dianne and I go through the properties and remove the ones that are not actually new listings so that our readers can really see what properties have just come on market. I personally make an exception for properties that have been off the market for 30 or more days… It seems to me as though if someone has taken their property off the market for that time, they have probably been working on the property & changing something about it, so I go ahead in those cases & list them as New again. I also noticed that many of the “freshened” listings (not in the table below) have changed Realtors. Although it is then technically a new listing, it is not a new property on the market for our readers’ purposes. It is worth noting that the property is what Buyers are looking for… not the Realtor, and if it is listed in the RMLS and the Realtor has been doing a good job of exposing it online, following up on showings etc., it is (in my opinion) a mistaken notion that switching Realtors is going to help sell the property. It is more likely that the things the Seller has control over, i.e. price and the appearance of the property, will make the difference. The listing that was on the market yesterday with one Realtor and back on today with another is pretty much the same property, and Buyers know that. Just a few musings for what they’re worth : )
Last week we saw, as mentioned, 13 New properties come on market. 16 went to Pending status, and 5 Sold.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (Sept. 14—20, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# Beds
# Baths
Total SF
Prop Type
List Date
12 CERVANTES CIR
$105,000
2
1.1
912
CONDO
9/15/2009
668 MCVEY AVE
$239,900
3
1.1
985
CONDO
9/17/2009
136 TOUCHSTONE TER
$350,000
3
2.1
1,996
DETACHD
9/17/2009
114 TOUCHSTONE TER
$389,000
3
2.1
2,080
ATTACHD
9/14/2009
15547 PARTRIDGE DR
$389,900
3
3
2,266
DETACHD
9/14/2009
16901 LAKERIDGE DR
$435,000
3
3
2,080
DETACHD
9/17/2009
5717 BONITA RD
$439,000
5
2
2,572
DETACHD
9/18/2009
4311 ORCHARD WAY
$564,900
4
2.1
3,082
DETACHD
9/14/2009
19101 INDIAN CREEK AVE
$619,500
2
2.1
2,794
DETACHD
9/15/2009
1809 HEADLEE LN
$1,125,000
2
2.1
3,836
DETACHD
9/14/2009
753 LAKESHORE RD
$1,385,000
3
3.1
2,562
DETACHD
9/16/2009
13 NANSEN SMT
$1,500,000
4
4.1
4,625
DETACHD
9/19/2009
17281 KELOK RD
$1,550,000
4
3
2,682
DETACHD
9/18/2009
PENDING SALES (Sept 14 -20, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
10 CONDOLEA DR
$240,000
2
2
1,312
ATTACHD
398
19138 PILKINGTON deep flag RD
254500 – 259000
3
1.1
1,099
DETACHD
133
5 PEACOCK PL
$299,950
4
2.1
1,760
DETACHD
169
16964 SW GASSNER LN
$335,000
3
3
2,208
DETACHD
100
5037 CENTERWOOD ST
$349,000
3
1.1
1,340
DETACHD
98
19 TOUCHSTONE
$399,000
4
3
2,789
DETACHD
107
31 DA VINCI ST
$399,900
4
2.1
2,232
DETACHD
34
41 HILLSHIRE DR
$427,000
4
3
2,670
DETACHD
437
3 CELLINI CT
$429,000
4
2.1
2,531
DETACHD
240
1660 CAMPUS WAY
$475,000
4
3
2,042
DETACHD
4
2330 DELLWOOD DR
$495,000
5
3.1
3,468
DETACHD
4
4691 CHELSEA LN
$564,900
4
2.1
3,102
DETACHD
585
559 2ND ST
$600,000
2
2
1,529
CONDO
7 CELLINI CT
$659,000
5
3.1
3,560
DETACHD
10
570 7TH ST
$665,000
3
2.1
2,528
DETACHD
265
2600 DELLWOOD DR
$699,900
4
3
3,690
DETACHD
486
SOLD (Sept 14-20, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
5318 RED LEAF ST
$309,950
$319,950
3
2
1,460
DETACHD
27
799 COUNTRY CLUB RD
$700,000
$500,000
6
2.1
4,410
DETACHD
784
4387 LORDS LN
$875,000
$650,000
3
2.1
3,040
DETACHD
544
1933 SUMMIT DR
$1,675,000
$1,550,000
5
4.1
4,925
DETACHD
26
4313 WESTBAY RD
$2,775,000
$2,100,000
4
3.1
4,000
DETACHD
193
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.
This Sunday we have 15 Open Houses in Lake Oswego according to RMLS. Two of them are under $300,000. if that interests any of you first time home buyers out to find a great home & meet the $8,000. tax credit timeline. As always, give Dianne or me a call if you need some assistance & are not already working with a Realtor. Enjoy!
You know, Dianne and I talk about this a lot, but I think it bears mentioning at this crucial moment when we have so little time before the $8,000. tax credit incentive has timed out (it expires on December 1st… that means that any transaction where there is the intention of taking advantage of this needs to close by November 30th). What is it that Dianne and I harp on so often that comes into play here? I’ll tell you- it’s “affordable homes in Lake Oswego”. You know, the kind that many first time home buyers would be interested in… homes under, let’s say, $350,000… Homes in a great school district, in a community where all types of individuals tend to participate and make their voices heard, where there are farmers markets, art festivals, music in the park, great shops & services, where families are valued and supported with programs and activities specific to those needs… and on & on. Here is a link to the city’s website if you’d like to find out more: http://www.ci.oswego.or.us/
I think that Lake Oswego, as Dianne has pointed out time & time again, is sometimes overlooked by first-time home buyers due to a perception that they just would not be able to afford a home in L.O. Now… each individual circumstance is of course different, but if you can qualify for any number of the great lender programs that I know are out there now, and are looking for a home under $350,000., according to RMLS there happen to be at this moment, today, 53 Detached Homes available in Lake Oswego… and the bottom end is $199,000. In addition, there are 129 Condos & Townhomes available right now under $350,000… and the bottom end there is at $89,800.
If this is sparking some thinking on your part about looking into this idea for yourself, or someone you know, please do not wait to get going. Talk to your Realtor, or give Dianne or myself a call *today* if you are not already working with a Realtor. This is not me pushing here, I am talking about the chance of a lifetime in prices, rates, and this $8,000. tax credit, and this is the moment. Here are a few reasons why:
Now, more than ever, it is important to have a good understanding of the timelines involved in purchasing a home… especially if you want to take advantage of the first-time home buyer tax credit: Fact: The average timeline from when you find a property until it closes is 30-45 days. Fact: You will need some time to find the property that you wish to buy. (Some buyers find their home right away, and some need more time.) Fact: The week before November 30th is Thanksgiving! Many banks and title companies are traditionally closed for the last 3 days of that week. Fact: November 30th is the Monday following the typical 3 day bank shutdowns. Fact: There will surely be many, many buyers who will wait until the last minute to start looking for homes. This means that November 30th is sure to be an extremely busy day and many banks and title companies will not be equipped to handle all of the expected volume. Fact: As more buyers start to frantically hit the market to take advantage of the tax credit, the selection of properties is sure to decrease. Fact: Waiting too long is a gamble you should not take if you are truly interested. The best strategy is to work with a professional who has a great team and can develop a plan with you to hit the deadline.
Ok, I’ll get off my soapbox now : ) I’ve at least done my part in getting the word out.
Happy house-hunting! Please feel free to give me or Dianne a call if you’d like to get going. We are really enjoying working with as many of you as possible to ensure that you get to take advantage of this great opportunity.
Last week brought us 21 new listings, 8 pending sales, and 10 closed sales. Please let Linda or I know if you would like any further information about any of these houses. It is both easy and no trouble to send you information. We are here to be of help.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (September 7—September 13, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
100 KERR PKWY
$99,990
1
1
775
CONDO
9/11/2009
4 TOUCHSTONE
$119,900
2
2
984
CONDO
9/9/2009
1547 BOCA RATAN DR
$219,900
2
1.1
1,008
ATTACHD
9/9/2009
16250 PACIFIC HWY
$229,900
3
2
1,626
CONDO
9/8/2009
15 BLOCH TER
$294,900
3
2.1
1,973
ATTACHD
9/10/2009
6015 FERNBROOK CIR
$324,900
3
1.1
1,250
DETACHD
9/10/2009
1723 CONIFER DR
$324,950
3
2
1,602
DETACHD
9/10/2009
15930 WALUGA DR
$329,000
3
1.1
1,040
DETACHD
9/10/2009
17752 SCHALIT WAY
329900
3
2
1,463
DETACHD
9/9/2009
15 ORIOLE LN
345000
2
2
1,470
DETACHD
9/13/2009
1255 BAYBERRY RD
390000
3
2
1,901
DETACHD
9/8/2009
18 ABELARD ST
462000
4
3
2,101
DETACHD
9/11/2009
7 CELLINI CT
659000
5
3.1
3,560
DETACHD
9/10/2009
371 6TH ST
699900
3
3.1
2,258
ATTACHD
9/13/2009
2630 RIVENDELL RD
769900
4
3.1
4,611
DETACHD
9/9/2009
2235 GLEN HAVEN RD
779000
5
2
2,778
DETACHD
9/12/2009
1708 VILLAGE PARK LN
899000
4
2.1
3,211
DETACHD
9/11/2009
2757 LAKEVIEW BLVD
960000
4
3
3,321
DETACHD
9/9/2009
507 ASH ST
988000
2
3
2,700
DETACHD
9/8/2009
19575 35TH CT
1495000 – 1575000
4
3
6,081
DETACHD
9/10/2009
961 TERRACE DR
3495000
4
4.2
5,795
DETACHD
9/7/2009
PENDING SALES (September 7 -September 13, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
CDOM
3688 SPRING LN
$164,500
2
2
1,120
CONDO
6/19/2009
81
166 OSWEGO SMT
$210,000
2
2
1,506
CONDO
3/13/2009
180
839 F AVE
$325,000
3
1
1,516
DETACHD
4/17/2009
147
891 G AVE
$419,000
5
2.1
2,420
DETACHD
6/11/2009
88
5044 GREENSBOROUGH CT
$449,000
3
2.1
2,124
DETACHD
7/25/2009
49
1670 VILLAGE PARK LN
$779,000
4
2.1
3,466
DETACHD
7/17/2009
53
2304 OSWEGO GLEN CT
$850,000
4
2.1
3,896
DETACHD
8/15/2009
247
17960 SARAH HILL LN
$1,079,000
5
3.1
4,800
DETACHD
4/1/2009
163
SOLD (September 7-September 13, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# BR
# BTHS
Total SF
Prop Type
CDOM
1057 C AVE
$295,000
$250,000
2
1
1,048
DETACHD
81
800 WOODWAY CT
$339,000
$322,000
4
3
2,066
DETACHD
107
13024 ROGERS RD
$389,900
$327,000
4
1
1,826
DETACHD
83
6 NORTHVIEW CT
$525,000
$450,000
4
3.1
3,188
ATTACHD
115
13500 TWIN CREEK LN
$572,500
$517,500
4
2.1
3,049
DETACHD
77
5831 SUNCREEK DR
$685,000
$620,000
4
2.1
2,733
DETACHD
27
4305 UPPER DR
$749,000
$700,000
4
2.1
3,474
DETACHD
78
14135 EDENBERRY DR
$799,900
$744,000
4
2.1
3,174
DETACHD
98
3270 LAKEVIEW BLVD
1399000
1125000
3
3
3,295
DETACHD
147
13770 CAMEO CT
2298000
1700000
4
5.1
6,669
DETACHD
198
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.
Well, the school year has officially started, and we’re all back from our Labor Day festivities. From the look of things, real estate is still moving right along with 21 Pending sales this past week in Lake Oswego. We had 12 New properties come on market, and just 5 get to Sold status.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (August 31—Sept. 6, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# Beds
# Baths
Total SF
Prop Type
List Date
370 CERVANTES CIR
$130,000
2
1
832
CONDO
8/31/2009
5051 FOOTHILLS DR
$210,000
2
2
991
CONDO
8/31/2009
29 ORIOLE LN
$299,990
3
2.1
1,644
DETACHD
9/4/2009
15139 Tree RD
$315,000
3
2
1,328
DETACHD
8/31/2009
15112 QUARRY RD
$325,000
4
2
1,968
DETACHD
9/4/2009
1625 CLOVERLEAF RD
$364,900
3
2
1,996
DETACHD
9/3/2009
4774 OAKRIDGE RD
$374,000
3
1
2,104
DETACHD
9/2/2009
5460 BAY CREEK DR
$429,900
3
2.1
2,358
DETACHD
9/1/2009
19026 INDIAN SPRINGS RD
435000
5
3
2,971
DETACHD
8/31/2009
1025 C AVE
499500
3
2
2,261
DETACHD
9/2/2009
18842 BRYANT RD
850000
4
2.2
3,528
DETACHD
9/2/2009
1633 MAPLE ST
894950
3
3
3,405
DETACHD
9/4/2009
PENDING SALES (August 31 -Sept 6, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# Beds
# Baths
Total SF
Prop Type
CDOM
7202 SW MONTAUK CIR
$109,900
2
1
968
CONDO
43
15938 QUARRY RD
$129,900
2
1
991
CONDO
62
45 CRESTFIELD CT
$138,900
2
1
923
CONDO
63
15868 PARKER RD
$169,900
2
1
780
DETACHD
168
4 TOUCHSTONE
$179,500
2
2
984
CONDO
19
668 MCVEY AVE
$179,850
2
1.1
976
CONDO
1022
1432 LAUREL ST
$269,500
2
1
920
DETACHD
85
3290 WEMBLEY PARK RD
$278,910
5
3
2,614
DETACHD
29
6310 CARMAN DR
349900
3
2.2
1,270
DETACHD
86
14141 GOODALL RD
359900
3
2.1
1,754
DETACHD
91
2851 PARK RD
399000
4
2.1
2,674
DETACHD
137
126 CONDOLEA DR
449000
3
3
2,664
CONDO
680
13342 AUBURN CT
475000
3
2.1
2,389
ATTACHD
75
1921 GLENMORRIE LN
499000
3
3
2,395
DETACHD
49
2925 ORCHARD HILL PL
499900
3
2.1
2,418
DETACHD
148
13176 SANDALWOOD CT
589000
4
2.1
2,982
DETACHD
306
5421 Bay Creek DR
599000
4
2.1
3,241
DETACHD
138
799 COUNTRY CLUB RD
600000
6
2.1
4,410
DETACHD
784
17878 HILLSIDE DR
895000
5
3
3,462
DETACHD
34
17211 KELOK RD
1399000
3
3.1
5,384
DETACHD
91
16737 MAPLE CIR
1400000
3
3
1,683
DETACHD
144
SOLD (August 31-Sept. 6, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# Beds
# Baths
Total SF
Prop Type
CDOM
1889 BOCA RATAN DR
$229,900
$230,000
3
2
1,393
ATTACHD
7
3355 UPPER DR
$470,000
$440,000
4
2
3,205
DETACHD
23
181 3RD ST
$739,000
$635,000
2
2
1,523
CONDO
196
22 INDEPENDENCE AVE
$724,000
$675,500
7
4.1
4,066
DETACHD
26
511 6TH ST
$988,000
$825,000
5
3.1
4,000
DETACHD
146
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.
Rainy Sunday on Labor Day Weekend… hmmm… There ARE a few houses to enjoy on tour today however, and it looks like a nice grouping. Here are the Lake Oswego houses being held Open according to RMLS:
Once upon a time there was a transaction wherein the Realtor representing the Buyer noticed some abnormalities in the Seller’s answers to questions on the Disclosures. FYI, when you are selling a home, the best and only rule is “Disclose, disclose, disclose!”. In this situation, the Seller, who had lived in the house for some time, seemed to have excellent knowledge of some things and no knowledge at all of things such as whether the roof had leaked while he/she lived there, whether there were any drainage problems on the property, and whether the main systems of the house were in good working order. A quick call to the Seller’s agent resulted in answers forthcoming that the Seller had not experienced any leaking from the roof, nor noticed any drainage problems, and that the systems were all working just fine. I think Seller’s get nervous when filling out these disclosures as they can seem like being asked to air your dirty laundry. Disclosures, however, are really important to the Seller and the Buyer alike. Basically, you just want to look at each question and answer to the best of your ability and knowledge. Sometimes an “N/A” is in order. Sometimes a “Yes” or a “No” is really called for, and sometimes an “Unknown” is absolutely fine. If you are a Seller and fail to disclose something about the property, and it becomes apparent after closing, you could possibly be liable for misrepresenting on your Disclosures… even if it was just a slip of the pen or a spat of bad memory. It’s much better to just let it all hang out, and your Buyers will appreciate your obvious candor. A Buyer feels much more comfortable seeing a few dings on the disclosures than they do wondering at odd answers or obvious misstatements… such as that all work was done with permits when the naked eye can tell that some was not. Again, sometimes you have to take a moment to remember… especially if you’ve lived in a home for a long time. So anyhoo, better just to lay it all out there. Calms everyone right down, protects you as the Seller & sets the tone for a good transaction.
Oil Tanks & the DEQ
Speaking of instructional situations… Make sure that when you are purchasing or selling a home whose heating system has been updated at some point, you check to find out if there was ever an underground oil tank on the property. Dianne and I have written posts on this in the past and you can find them in the archives here, but it is very important to find out 1) If one was/is on the property, 2) If so, was it decommissioned?, and 3) If it was decommissioned, was a DEQ Certificate obtained? (You can call DEQ, give them your address, and find out pretty quickly.) This last question is the kicker, and I find that people are confused about it. If you are a Seller and bought your home with the understanding that it had an oil tank that was decommissioned, but you did not find out if there was a DEQ Certificate and there is NOT one… You will most certainly be required to provide one before closing (Your Buyer does not want to inherit this situation for themselves for when they sell in the future). This involves calling a DEQ-licensed Environmental Services provider. The process includes locating the underground tank, taking soil samples, checking the decommission job if one was done, and verifying that it was done to DEQ standards. If all this checks out, you can get yourself a DEQ Certificate to pass on to your Buyer. So… better to check this out before putting your property on the market rather than getting surprised during a transaction. And Buyers… remember to ask your Realtor about this for more clarification.
Feel free to call Dianne or myself any time for more information on any of the tidbits we provide. We love to help our Property Blotter readers and clients! Hope this was helpful to you today.
In particular I want to point out a progressive open house tour being held in Southwood Park. 5 homes are being held open within just a couple of blocks of each other, including my listing at 13638 SW 62nd. Remember that this neighborhood is in unincorporated Clackamas County (which means low taxes), but has Lake Oswego Schools (great for kids and re-sale values). My listing was price reduced this last week from $319,900 to $299,900. That is for a house with 4 bedrooms, 3 full baths, two family rooms, and a 21 x 11 utility room. It needs some cosmetic updating, but has a 50 year metal roof, new windows, and new paint inside and out. If you visit all 5 houses on the tour, your will receive a $5 Starbuck’s gift card. Watch for hellium balloons and lots of open house signs. You’ll find my signs on Lesser Dr to follow them in to the property.
You know, Dianne and I talk about this a lot, but I think it bears mentioning at this crucial moment when we have so little time before the $8,000. tax credit incentive has timed out (it expires on December 1st… that means that any transaction where there is the intention of taking advantage of this needs to close by November 30th). What is it that Dianne and I harp on so often that comes into play here? I’ll tell you- it’s “affordable homes in Lake Oswego”. You know, the kind that many first time home buyers would be interested in… homes under, let’s say, $350,000… Homes in a great school district, in a community where all types of individuals tend to participate and make their voices heard, where there are farmers markets, art festivals, music in the park, great shops & services, where families are valued and supported with programs and activities specific to those needs… and on & on. Here is a link to the city’s website if you’d like to find out more: