This last week Lake Oswego saw 33 New properties placed on the market, Pending sales at 15 and 9 Sold/closed.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (June 15—June 21, 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 |
| 89 GALEN ST | $107,500 | 1 | 1 | 550 | CONDO | 6/17/2009 |
| 29 CRESTFIELD CT | $154,900 | 2 | 2 | 995 | CONDO | 6/16/2009 |
| 3688 SPRING LN | $179,900 | 2 | 2 | 1,120 | CONDO | 6/19/2009 |
| 12822 BOONES FERRY RD | $234,900 | 2 | 2.1 | 1,136 | CONDO | 6/16/2009 |
| 3480 DEVONSHIRE DR | $308,000 | 2 | 2.1 | 1,649 | ATTACHD | 6/20/2009 |
| 4948 SW MEADOWS AVE | $319,000 | 3 | 2 | 2,491 | DETACHD | 6/19/2009 |
| 1140 HALLINAN CT | $339,895 | 3 | 2 | 1,875 | DETACHD | 6/21/2009 |
| 4310 SILVER CT | $367,500 | 2 | 3.1 | 1,996 | CONDO | 6/18/2009 |
| 104 KINGSGATE RD | $379,500 | 3 | 2.1 | 2,000 | ATTACHD | 6/16/2009 |
| 668 MCVEY AVE | $399,850 | 3 | 1.1 | 985 | CONDO | 6/17/2009 |
| 1651 LARCH ST | $399,900 | 4 | 3 | 2,225 | DETACHD | 6/18/2009 |
| 17349 BANYON LN | $419,900 | 5 | 2.1 | 2,846 | DETACHD | 6/15/2009 |
| 540 2ND ST | $425,000 | 2 | 2.1 | 1,520 | CONDO | 6/17/2009 |
| 4693 LAKEVIEW BLVD | $449,000 | 3 | 2.1 | 1,728 | DETACHD | 6/19/2009 |
| 13342 AUBURN CT | $489,900 | 3 | 2.1 | 2,389 | ATTACHD | 6/20/2009 |
| 2405 Dellwood DR | $505,000 | 5 | 3 | 2,336 | DETACHD | 6/17/2009 |
| 11 MORNINGVIEW CIR | $547,000 | 3 | 2.1 | 2,921 | DETACHD | 6/17/2009 |
| 16925 Depot | $549,000 | 4 | 2.1 | 2,500 | DETACHD | 6/19/2009 |
| 668 MCVEY AVE | $549,000 | 3 | 1.1 | 997 | ATTACHD | 6/18/2009 |
| 953 A AVE | $599,000 | 3 | 2 | 2,628 | DETACHD | 6/15/2009 |
| 475 10TH ST | $623,500 | 4 | 2.1 | 2,932 | DETACHD | 6/19/2009 |
| 14121 GABRIELLE CT | $624,900 | 4 | 2.1 | 3,006 | DETACHD | 6/16/2009 |
| 4208 ALBERT CIR | $639,900 | 3 | 3 | 2,777 | DETACHD | 6/18/2009 |
| 113 FURNACE ST | $669,000 | 2 | 2.1 | 2,154 | CONDO | 6/19/2009 |
| 22 INDEPENDENCE AVE | $724,000 | 7 | 4.1 | 4,066 | DETACHD | 6/21/2009 |
| 4304 WESTBAY RD | $729,000 | 4 | 3.1 | 2,973 | DETACHD | 6/18/2009 |
| 13461 STREAMSIDE DR | $749,000 | 4 | 2.1 | 3,321 | DETACHD | 6/15/2009 |
| 898 CORNELL ST | $759,000 | 3 | 2.1 | 3,000 | DETACHD | 6/21/2009 |
| 3220 SOUTHSHORE BLVD | $1,199,999 | 3 | 3 | 3,629 | DETACHD | 6/18/2009 |
| 2070 RIDGE POINTE DR | $1,225,000 | 4 | 5 | 5,530 | DETACHD | 6/16/2009 |
| 1933 SUMMIT DR | $1,675,000 | 5 | 4.1 | 4,925 | DETACHD | 6/18/2009 |
| 2557 SOUTHSHORE BLVD | $1,895,000 | 3 | 3.2 | 3,604 | DETACHD | 6/15/2009 |
| 102 3RD ST | $1,999,999 | 4 | 4 | 3,400 | DETACHD | 6/18/2009 |
PENDING SALES (June 15-June 21, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | CDOM |
| 100 KERR PKWY | $125,000 | 2 | 1.1 | 823 | CONDO | 91 |
| 47 EAGLE CREST DR | $129,900 | 2 | 1 | 932 | CONDO | 52 |
| 276 CERVANTES | $183,000 | 3 | 2 | 1,209 | CONDO | 27 |
| 5063 Foothills DR | $229,000 | 2 | 2 | 1,031 | CONDO | 213 |
| 4366 WOODSIDE CIR | $319,000 | 3 | 2.1 | 1,762 | ATTACHD | 97 |
| 13840 VERTE CT | $324,900 | 3 | 2 | 1,926 | DETACHD | 8 |
| 18481 WAXWING CIR | $375,000 | 3 | 2.1 | 1,840 | DETACHD | 13 |
| 1299 HIDE A WAY LN | $399,000 | 3 | 2 | 1,893 | DETACHD | 127 |
| 17985 BRAEDEN CT | $554,900 | 3 | 2.1 | 2,559 | DETACHD | 38 |
| 762 3RD ST | $639,900 | 3 | 2.1 | 2,590 | DETACHD | 309 |
| 17751 MARYLCREEK DR | $690,000 | 4 | 3 | 3,505 | DETACHD | 112 |
| 15535 VILLAGE DR | $799,000 | 5 | 3 | 3,421 | DETACHD | 88 |
| 17215 LOWENBERG TER | $850,000 | 4 | 2.1 | 2,819 | DETACHD | 550 |
| 13010 KNAUS RD | $1,199,000 | 4 | 3.1 | 4,312 | DETACHD | 945 |
| 17334 BERGIS FARM DR | $1,399,000 | 5 | 4.1 | 5,654 | DETACHD | 335 |
SOLD (June 15-June 21, 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 |
| 668 MCVEY AVE | $239,900 | $220,000 | 3 | 1.1 | 1,184 | CONDO | 61 |
| 204 CERVANTES | $249,900 | $246,000 | 3 | 1.1 | 1,138 | CONDO | 79 |
| 2130 WEMBLEY PARK RD | $379,000 | $299,900 | 3 | 1.1 | 1,544 | DETACHD | 280 |
| 1716 HALLINAN ST | $369,500 | $362,000 | 3 | 3 | 1,916 | DETACHD | 47 |
| 12103 ORCHARD HILL WAY | $429,000 | $399,000 | 4 | 2.1 | 2,332 | DETACHD | 226 |
| 17445 LAKE HAVEN DR | $539,900 | $537,000 | 4 | 3 | 2,949 | DETACHD | 9 |
| 15713 TARA PL | $615,000 | $580,000 | 4 | 2.1 | 3,442 | DETACHD | 143 |
| 17970 ROYCE WAY | $995,000 | $900,000 | 4 | 4.2 | 5,226 | DETACHD | 285 |
| 2605 SOUTHSHORE BLVD | $1,395,000 | 1340000 | 3 | 4.1 | 4,750 | DETACHD | 234 |
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.
Market Activity for June 8-June 14, 2009
I know that in my personal business it feels like things have picked up a bit. I think last week’s market activity also reflected that. We had 19 new listings come on the market, 12 homes go pending, and 14 sales that closed.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (June 8—June 14, 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 | ||
| 15210 BOONES WAY | $175,000 | 2 | 2 | 1,124 | CONDO | 6/8/2009 | ||
| 109 OSWEGO SMT | $182,900 | 2 | 2 | 1,212 | CONDO | 6/8/2009 | ||
| 44 EAGLE CREST DR | $185,000 | 3 | 2 | 1,085 | CONDO | 6/11/2009 | ||
| 212 RIDGEWAY RD | $204,900 | 1 | 1 | 778 | CONDO | 6/12/2009 | ||
| 41 GREENRIDGE CT | $249,900 | 3 | 2.1 | 1,652 | ATTACHD | 6/8/2009 | ||
| 4438 THUNDER VISTA LN | $265,000 | 2 | 2.1 | 2,040 | CONDO | 6/8/2009 | ||
| 1432 LAUREL ST | $275,000 | 2 | 1 | 920 | DETACHD | 6/8/2009 | ||
| 3 SUMMIT RIDGE CT | $300,000 | 2 | 2.1 | 1,576 | ATTACHD | 6/11/2009 | ||
| 343 5TH ST | 315000 | 2 | 1 | 910 | CONDO | 6/11/2009 | ||
| 16808 INVERURIE RD | 324900 | 3 | 2 | 1,182 | DETACHD | 6/8/2009 | ||
| 16964 GASSNER LN | 330000 | 3 | 3 | 2,208 | DETACHD | 6/8/2009 | ||
| 6310 CARMAN DR | 349900 | 3 | 2.2 | 1,270 | DETACHD | 6/9/2009 | ||
| 19040 INDIAN SPRINGS CIR | 369950 | 5 | 2 | 2,050 | DETACHD | 6/9/2009 | ||
| 5037 CENTERWOOD ST | 379000 | 3 | 1.1 | 1,340 | DETACHD | 6/13/2009 | ||
| 2705 ORCHARD HILL PL | 434900 | 3 | 2.1 | 2,250 | DETACHD | 6/12/2009 | ||
| 16439 LEXINGTON CT | 474900 | 2 | 2 | 1,563 | DETACHD | 6/9/2009 | ||
| 891 G AVE | 529900 | 5 | 2.1 | 2,420 | DETACHD | 6/11/2009 | ||
| 17471 CARDINAL DR | 850000 | 4 | 2.1 | 3,056 | DETACHD | 6/9/2009 | ||
| 667 IRON MOUNTAIN BLVD | 1650000 | 5 | 4.1 | 5,000 | DETACHD | 6/8/2009 |
PENDING SALES (June 8-June 16, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | List Price | # BR | # BTHS | Total SF | Prop Type | CDOM | |||
| 3876 BOTTICELLI ST | $169,900 | 2 | 2 | 1,275 | ATTACHD | 202 | |||
| 668 MCVEY AVE | 194900 – 224876 | 2 | 1 | 852 | CONDO | 765 | |||
| 4325 COUNTRY WOODS CT | $299,900 | 3 | 2 | 1,346 | DETACHD | 40 | |||
| 17850 PILKINGTON RD | $372,000 | 3 | 2.1 | 3,222 | DETACHD | 388 | |||
| 762 LAKE FOREST DR | $412,125 | 4 | 3 | 1,970 | DETACHD | 9 | |||
| 14371 HOLLY SPRINGS RD | $414,900 | 4 | 2.1 | 1,939 | DETACHD | 354 | |||
| 131 WILBUR ST | $425,000 | 2 | 2 | 1,312 | DETACHD | 106 | |||
| 16919 LAKERIDGE DR | $425,000 | 4 | 3 | 2,710 | DETACHD | 295 | |||
| 4181 COBB WAY | 429900 | 4 | 3 | 2,248 | DETACHD | 28 | |||
| 15713 TARA PL | 615000 | 4 | 2.1 | 3,442 | DETACHD | 143 | |||
| 17600 UPPER CHERRY LN | 699000 | 4 | 3.1 | 3,867 | DETACHD | 133 | |||
| 17090 FERNWOOD DR | 765000 | 4 | 3.1 | 3,998 | DETACHD | 302 |
SOLD (June 8-June 16, 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 | ||
| 5101 JEAN RD | $295,000 | $235,000 | 3 | 1 | 1,012 | DETACHD | 233 | ||
| 16446 INVERURIE RD | $349,900 | $250,000 | 3 | 1 | 2,100 | DETACHD | 350 | ||
| 17071 BRYANT RD | $435,000 | $320,000 | 3 | 2 | 1,500 | DETACHD | 302 | ||
| 1666 LAKE FRONT RD | $874,900 | $395,000 | 4 | 3 | 2,825 | DETACHD | 680 | ||
| 13581 GOODALL RD | $1,100,000 | $475,000 | 3 | 2 | 1,220 | DETACHD | 575 | ||
| 54 AQUINAS ST | $575,000 | $485,000 | 3 | 2.1 | 2,802 | DETACHD | 249 | ||
| 11 BECKET ST | $550,000 | $487,500 | 3 | 2.1 | 4,030 | DETACHD | 111 | ||
| 19431 KOKANEE CT | $529,000 | $520,000 | 4 | 2.1 | 2,250 | DETACHD | 8 | ||
| 5868 SUNCREEK DR | 749900 | 645000 | 4 | 2.1 | 3,174 | DETACHD | 68 | ||
| 2317 STONEHURST CT | $945,900 | 660000 | 4 | 2.1 | 4,455 | DETACHD | 374 | ||
| 4155 CANAL RD | $1,199,000 | 685000 | 4 | 2.1 | 3,736 | DETACHD | 678 | ||
| 2900 WEMBLEY PARK RD | 697000 | 690000 | 4 | 2.1 | 3,383 | DETACHD | 4 | ||
| 3407 LAKE GROVE AVE | $1,298,000 | 875000 | 4 | 3.1 | 4,475 | DETACHD | 402 | ||
| 18224 Bella Terra DR | 1495000 | 1275000 | 4 | 4 | 4,050 | DETACHD | 397 |
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.
Lake Oswego Open Houses ~ June 14, 2009
There are 33 great properties to see on Sunday in Lake Oswego. No matter what price level or type of home you are looking for, you will be sure to find some fun options on the list below! Enjoy a beautiful Sunday!
Here are those that will be held open according to RMLS:
12846 SW Boones Ferry Rd $209,000 2 Bd, 1 1/2 Ba Open 9-11
16501 Lake Forest Blvd $319,900 3 Bd, 1 Ba Open 1-3
13840 Verte Ct $324,900 3 Bd, 2 Ba Open 1-3
3009 Wembley Park Rd $379,900 3 Bd, 1 1/2 Ba Open 1-4
16824 SW Inverurie Rd $389,900 3 Bd, 3 Ba Open 1-4
1023 Lund St $412,500 4 Bd, 2 1/2 Ba Open 1-4
1531 Woodland Ter $429,000 3 Bd, 2 1/2 Ba Open 1-4
1858 Southshore Blvd $449,900 4 Bd, 2 Ba Open 2-4
42 Hillshire Dr $474,000 4 Bd, 3 Ba Open 1:30-3:30
16439 Lexington Ct $474,900 2 Bd 2 Ba Open 3-5
15943 White Oaks Dr $495,500 4 Bd, 2 1/2 Ba Open 2-4
4959 Bilford Ln $547,500 3 Bd, 2 1/2 Ba Open 2-4
16920 Greentree Ave $579,000 4 Bd, 2 1/2 Ba Open 2-4
11 Cellini Ct $584,950 5 Bd, 3 Ba Open 12-2:30
17879 Hillside Dr $619,900 3 Bd, 3 Ba Open 12-2
580 Weidman Ct $659,000 5 Bd, 3 1/2 Ba Open 2:30-4:30
401 Ash St $680,000 5 Bd, 4 Ba Open 1-3
550 Middlecrest Rd $699,000 3 Bd, 2 1/2Ba Open 1-3
220 Greenwood Rd $785,000 3 Bd, 4 Ba Open 1-4
2688 Rivendell Rd $835,000 4 Bd, 3 Ba Open 1-3
15540 Village Dr $879,900 4 Bd, 2 1/2 Ba Open 1-3
3030 Westview Ct $898,000 4 Bd, 2 1/2 Ba Open 2:30-4
577 Middlecrest Rd $999,900 4 Bd, 2 1/2 Ba Open 1-3
14480 Kruse Oaks Blvd $1,149,000 4 Bd, 3 1/2 Ba Open 1-3
18246 Bella Terra Dr $1,294,000 4 Bd, 3 1/2 Ba Open 1-4
17464 Ridgeview Ln $1,298,950 4 Bd, 3 1/2 Ba Open 2-4
622 Oak Meadow Dr $1,325,000 4 Bd, 3 1/2 Ba Open 2-4
624 Atwater Rd $1,338,000 5 Bd, 3 1/2 Ba Open 1-3
664 Oak Meadow Dr $1,355,000 4 Bd, 3 1/2 Ba Open 2-4
18110 Siena Dr $1,394,000 4 Bd, 3 1/2 Ba Open 1-3
657 Oak Meadow Dr $1,395,000 4 Bd, 3 1/2 Ba Open 2-4
17364 Ridgeview Ct $1,425,000 4 Bd, 3 1/2 Ba Open 2-4
17433 Ridgeview Ln $1,495,000 4 Bd, 4 1/2 Ba Open 2-4
Green Water (ing)
Though you wouldn’t know it today to look out my window (cloudy & some drizzle), it is summer, sunbeams have been out in force, and temps have been shooting up along with the plants in our yards and gardens. Some of this has to do with the heat, and some has to do with the fact that we are watering things while there is heat. At this time of year, and especially during a recession, we all need a refresher course on watering, and Lake Oswego is only too happy to oblige!
Water conservation experts from the Regional Water Providers Consortium (RWPC) are visiting Lake Oswego for a session with local residents where they plan to hand out free water gauges and lots of good tips for water-efficient landscaping and maintenance. This event will be held this Saturday, June 13th, at Dennis’ 7 Dees Garden Center, 1090 McVey Ave., from 10 AM to 2 PM.
The Consortium has an amazing website that reminds me how much there 
is to learn. I remember thinking, when I was much younger and of course knew much more than I do today (or thought I did), that being a native of Southern California (Hey… No ribbing… I’ve been here since 1978!) , I had a very hard time believing that there was truly any need to conserve water in Oregon… I mean come on! With all the rainfall, the huge river running through town, the snowy mountain peaks dribbling water through Portland all year long… How was I supposed to believe that we actually needed to pay much attention at all to water consumption? Well, in recent years we have all learned how integral our activities are to maintaining the living environment we so cherish and want to hand to our children. There really are limits to what nature can provide us in our current numbers & given the constraints of our infrastructure. Then, there is that money thing… Practical tips for saving money while saving water? I’m all ears!
Among the vast array of uselful material to be found at the RWPC site are the following good pieces of information:
- Use Mulch! It is important to know what kind to use however: –Organic Mulches (aged manure, bark chips, wood chips) and compost material will significantly decrease the amount of water you will need for plant health. Specifically, the addition of as little as 5% organic material can quadruple your soil’s ability to store water, decreasing the watering needed. – Inorganic mulches like stones, concrete and gravel can be great for creating landscape patterns etc., but also “re-radiate” the sun’s heat and cause an increase in the amount of water needed to care for surrounding plants.
- Create Watering Zones – These would be areas of your property wherein similar types of plants reside hopefully having similar watering requirements. (Lawn areas, rose garden, annual garden, perennial garden etc) This way you avoid the “one system fits all” mentality and the over-watering that results for some garden areas.
- Adjust Watering Schedules Frequently – As the temperatures shift during the summer, you will want to adjust your watering schedules accordingly.
- Managed Stress in the Landscape – There are all sorts of seemingly complicated formulas to help you determine how much to water a lawn at any given temperature. The RWPC site simplifies this information and helps you understand the “Stressing” concept, which basically means watering as little as possible forcing lawns to use their natural coping mechanisms and give you a green lawn all summer without the heavy over-watering that is so prevalent.
- Water Plants Thoroughly but Infrequently – This causes roots to go deeper and therefore be more drought resistant/require less watering.
- Water When Temps are Cooler – Preferably before 10:00AM or after 6:00PM.
- Use Drip Irrigation Where Possible – Large water droplets close to the ground are much more efficient than sprinkler systems which lose a lot of water to evaporation.
- Don’t Water in the Rain – Use rain sensors and gauges to eliminate unnecessary automatic watering when it is raining.
First Time Home Buyer? ~ What to Expect:
I was reading an article recently regarding the $8,000. tax credit for first time home buyers, and the writer expressed shock at how many people are completely unaware of it. I have noticed in my own practice recently that the larger PR machine has evidently not been doing a very good job at educating the public, as some of my clients reveal innocence on this subject as well when they discuss their leisurely plans to purchase “sometime in January of next year” etc. (the tax credit is only applicable if the home purchase is completed before December 1st of this year.) I also have heard more & more folks lately talking about attending “First Time Home Buyer Classes” presented usually by Realtors and Mortgage Brokers as a service to the public.
It seems to me that there is a real need for information out there right now. I thought I’d give a little primer below on at least the basics of what to expect during your first home-buying experience. Hope you find it helpful!
(Note: The sequence below does not apply to each and every transaction as each is individual and scenarios/time lines obviously vary. Your Realtor will be doing many more things behind the scenes than I indicate below as well, but I am sticking to outlining YOUR experience and how you can expect that to unfold… generally speaking.)
- Retain services of a mortgage professional (lender) to give you best options for financing, and have an approval letter ready for you when you make an offer. Discuss “closing costs” with your mortgage professional, and review the “good faith estimate” that they will provide to you. (If you have a relationship with a Realtor first, ask them to recommend good resources for you.)
- Work with your Realtor to find the home that meets your needs.
- Work with your Realtor to determine appropriate offer & details/then write it up.
- Realtor submits offer to Seller along with approval letter from lender and earnest money check. Note: The EM check is to show good faith, and is applied to the sale should your offer be accepted and proceed to close. Talk with your Realtor about what amount will put your best foot forward. (*Sometimes Promissory Notes may be used, and/but I highly recommend using an EM check to be taken most seriously.
- Receive response/acceptance/counter from Seller in time frame you specified on the offer (in a normal transaction you typically ask for response within 24 hours, but if it is a “short sale”, the process of hearing back that you are indeed accepted by all parties concerned can take months.)
- Upon mutual acceptance (usually within 1-3 days), schedule an inspection ASAP (you have 10 business days to conduct inspections & may back out if concerns arise during this time). Your Realtor will help you with this- Ask him or her for good resources to guide you through the process of inspecting the home. Prices vary, but a 2000 square foot house will often run around $400. more or less, and size as well as other factors come into play in the cost of an inspection.
- Upon mutual acceptance, your earnest money check is sent to the Escrow Office, and held by them on your behalf until closing, or until nullification of the offer if this occurs within your inspection period.
- Realtor writes and negotiates any Inspection Addendum items during this period according to your wishes (you will work with your Realtor to discuss and determine any give and take in the negotiation process that may occur. Your Realtor will offer you information and give professional advice, negotiating on your behalf and with your permission. You are in the driver’s seat, and you make the final decisions albeit under good counsel.
- Upon mutual acceptance & reaching the end of your inspection period, your Realtor notifies the lender who orders the appraisal.
- Your Realtor continues to work with the lender as the lending process moves forward. As long as the appraisal comes back at or above sale/offer price, you will proceed to closing through the underwriting process of the lender. Should the property not appraise for at least the sale amount, the lender will bring this to your attention and there will be some decisions for you to make around the sale price and your desire for the home (you are not required to pay any monies over and above the appraisal amount, and lenders will not lend more than the appraised value generally speaking.)
- You may be requested by the underwriter to provide additional information on a case by case basis. Your Realtor will work with you and help in any way possible and appropriate to facilitate the flow of information required from you, but you are in the driver’s seat as far as responsibility to provide the necessary information to the lender.
- When all underwriter/lender requirements have been met, the file is signed off by the underwriter, and passed to Escrow. The whole lender process usually takes around 3-4 weeks.
- Escrow processes all paperwork, title insurance, and all distribution of funds between you and the seller as per the contract provisions agreed upon between you and the Seller. Documents are drafted, and a “signing date/time” is scheduled. (“Signing” is not the same as “Closing”.)
- Your Realtor will often attend your signing with you to help with any questions that arise, and to offer moral support. (Frankly, I just love being a part of the exciting culmination of the home buying adventure!)
- Escrow will then send signed documents back to the lender, and to the county. The transaction will then “close” or “fund & record” in 1-2 days after signing, at which time you will receive a call that you are a homeowner!
- Your Realtor will usually meet you at your new home and deliver you the keys. (More fun!)
- The whole process from offer to close usually takes around 30 days… sometimes 40-45. It can take a little longer depending on the lender, and sometimes it takes less time than that. You and your Realtor will assign a “no later than” date on your offer in conjunction with talking to the lender about their current load & closing time line. All parties are then obligated to “perform” within that time frame, or draft an addendum extending the closing date if that proves necessary and IF all parties agree to do it. (Because there always exists the possibility that one party may not agree to sign an extension addendum, and the contract specifically states “on or before” a particular date, the closing date is a binding contractual agreement and should be taken very seriously. As a buyer, your earnest money is at stake if you should not “perform” to contact terms.)
The above may be missing some pieces of the puzzle as each transaction is different, and various issues can arise during the process, but hopefully this give you a basic idea of how it will go!
Market Activity for May 18-24, 2009
Lots of houses continue to come onto the market, as is typical in the spring. Even with the holiday weekend there were 25 new listings in Lake Oswego. We also saw 21 houses receive offers and go pending and 2 closed sales.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (May 18—May 24, 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 | $94,900 | 1 | 1 | 617 | CONDO | 5/21/2009 | ||
| 45 EAGLE CREST DR | $139,900 | 1 | 1 | 768 | CONDO | 5/20/2009 | ||
| 86 KINGSGATE RD | $149,900 | 2 | 2 | 849 | CONDO | 5/20/2009 | ||
| 276 CERVANTES | $183,000 | 3 | 2 | 1,209 | CONDO | 5/21/2009 | ||
| 235 CERVANTES | $188,000 | 2 | 2 | 1,100 | CONDO | 5/21/2009 | ||
| 16250 PACIFIC HWY | $220,000 | 1 | 1 | 841 | CONDO | 5/19/2009 | ||
| 16428 SW BONAIRE AVE | $269,950 | 3 | 1 | 1,240 | DETACHD | 5/19/2009 | ||
| 16250 PACIFIC HWY | $274,500 | 2 | 2 | 1,305 | CONDO | 5/19/2009 | ||
| 4 WHEATHERSTONE | $334,950 | 3 | 2.1 | 1,692 | CONDO | 5/18/2009 | ||
| 6321 ALYSSA TER | $339,000 | 3 | 2.1 | 1,582 | ATTACHD | 5/18/2009 | ||
| 14141 GOODALL RD | $389,900 | 3 | 2.1 | 1,907 | DETACHD | 5/22/2009 | ||
| 19221 REDWING CT | $397,500 | 3 | 2 | 1,374 | DETACHD | 5/22/2009 | ||
| 147 6TH ST | $425,000 | 3 | 1 | 1,584 | DETACHD | 5/18/2009 | ||
| 668 MCVEY AVE | 425000 – 450000 | 3 | 1.1 | 992 | CONDO | 5/20/2009 | ||
| 16950 LAKERIDGE DR | $479,000 | 4 | 2.1 | 2,305 | DETACHD | 5/23/2009 | ||
| 4938 MULHOLLAND DR | $529,900 | 3 | 2.1 | 2,498 | ATTACHD | 5/19/2009 | ||
| 4959 BILFORD LN | $547,500 | 3 | 2.1 | 2,456 | DETACHD | 5/19/2009 | ||
| 475 COUNTRY CLUB CT | $549,000 | 3 | 2.1 | 1,705 | DETACHD | 5/18/2009 | ||
| 5400 BAY CREEK DR | $550,000 | 4 | 2.1 | 2,856 | DETACHD | 5/22/2009 | ||
| 686 SUNNY HILL DR | $569,500 | 4 | 2.1 | 2,300 | DETACHD | 5/21/2009 | ||
| 4305 UPPER DR | $749,000 | 4 | 2.1 | 3,474 | DETACHD | 5/20/2009 | ||
| 1755 SOUTHSHORE BLVD | $949,000 | 5 | 3.1 | 4,757 | DETACHD | 5/21/2009 | ||
| 943 SW ATWATER RD | $975,000 | 4 | 2.1 | 3,874 | DETACHD | 5/21/2009 | ||
| 14480 KRUSE OAKS BLVD | $1,149,000 | 4 | 3.1 | 4,661 | DETACHD | 5/18/2009 | ||
| 18042 SKYLAND CIR | $1,499,000 | 4 | 3 | 4,800 | DETACHD | 5/22/2009 |
PENDING SALES (May 18-May 24, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | List Price | # BR | # BTHS | Total SF | Prop Type | CDOM | |||
| 45 EAGLE CREST DR | $134,900 | 2 | 1.1 | 1,056 | CONDO | 6 | |||
| 4000 CARMAN DR | $149,900 | 2 | 2 | 925 | CONDO | 699 | |||
| 4000 CARMAN DR | $179,900 | 2 | 2 | 1,100 | CONDO | 72 | |||
| 1602 BONNIEBRAE DR | 224900 – 254876 | 2 | 1 | 864 | ATTACHD | 256 | |||
| 103 KINGSGATE RD | $299,900 | 3 | 2.1 | 1,352 | DETACHD | 56 | |||
| 18543 LONGFELLOW AVE | $305,000 | 3 | 1.1 | 1,279 | DETACHD | 97 | |||
| 5918 SEVILLE AVE | $315,000 | 4 | 2 | 1,752 | DETACHD | 14 | |||
| 45 TANGLEWOOD DR | $345,000 | 5 | 3.1 | 3,166 | DETACHD | 71 | |||
| 15 MASARYK ST | $349,900 | 3 | 3 | 3,680 | DETACHD | 131 | |||
| 111 3RD ST | $399,900 | 2 | 2 | 1,206 | CONDO | 276 | |||
| 815 10TH ST | $399,950 | 3 | 2 | 2,190 | DETACHD | 298 | |||
| 606 2ND ST | $420,000 | 4 | 3 | 3,022 | DETACHD | 34 | |||
| 17825 SARAH HILL LN | $464,900 | 4 | 2.1 | 2,525 | DETACHD | 5 | |||
| 2 PIMLICO TER | $479,900 | 4 | 2.1 | 2,301 | DETACHD | 21 | |||
| 14412 MEADOW GRASS ST | $500,000 | 4 | 2.1 | 3,563 | DETACHD | 364 | |||
| 5026 HARTFORD PL | $524,900 | 5 | 2.1 | 3,253 | DETACHD | 319 | |||
| 17445 LAKE HAVEN DR | $539,900 | 4 | 3 | 2,949 | DETACHD | 9 | |||
| 1245 BAYBERRY RD | $559,000 | 3 | 2 | 1,728 | DETACHD | 342 | |||
| 5590 KODERRA AVE | $599,900 | 4 | 2.1 | 3,072 | DETACHD | 10 | |||
| 5322 Langford LN | $759,000 | 4 | 2.1 | 3,218 | DETACHD | 178 | |||
| 17970 ROYCE WAY | $995,000 | 4 | 4.2 | 5,226 | DETACHD | 285 |
SOLD (May 11-May 17, 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 | ||
| 4724 SW FIRWOOD RD | $299,900 | $279,900 | 3 | 1.1 | 1,240 | DETACHD | 296 | ||
| 13805 REGENCY CT | $419,000 | $373,000 | 4 | 2.1 | 2,045 | DETACHD | 29 | ||
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.
Market Activity Report ~ May 11 – 17, 2009
This last week Lake Oswego saw 23 new properties placed on the market, Pending sales at 12 and 4 Sold/closed. We’re still seeing buyers out for all price ranges, and the trend continuing of newer listings selling as well as homes that have been on the market for extended periods… it is one or the other it seems!
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (May 11—May 17, 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 |
| 45 EAGLE CREST DR | $134,900 | 2 | 1.1 | 1,056 | CONDO | 5/14/2009 |
| 3433 MCNARY PKWY | $157,500 | 2 | 2.1 | 1,208 | CONDO | 5/11/2009 |
| 86 KINGSGATE RD | $159,900 | 2 | 2 | 924 | CONDO | 5/11/2009 |
| 45 EAGLE CREST DR | $259,900 | 3 | 2 | 1,348 | CONDO | 5/13/2009 |
| 222 CERVANTES | $259,990 | 3 | 1.1 | 1,464 | CONDO | 5/15/2009 |
| 16850 CORTEZ CT | $285,000 | 4 | 1.1 | 1,232 | DETACHD | 5/12/2009 |
| 16501 LAKE FOREST BLVD | $319,900 | 3 | 1 | 1,429 | DETACHD | 5/13/2009 |
| 13024 ROGERS RD | $389,900 | 4 | 1 | 1,826 | DETACHD | 5/15/2009 |
| 12519 27TH PL | $399,000 | 3 | 2.1 | 1,975 | DETACHD | 5/11/2009 |
| 4181 COBB WAY | $429,900 | 4 | 3 | 2,248 | DETACHD | 5/14/2009 |
| 17825 SARAH HILL LN | $464,900 | 4 | 2.1 | 2,525 | DETACHD | 5/15/2009 |
| 14 TANGLEWOOD DR | $499,999 | 5 | 3 | 3,384 | DETACHD | 5/14/2009 |
| 2062 CEDAR CT | $525,000 | 3 | 1 | 1,800 | DETACHD | 5/15/2009 |
| 17445 LAKE HAVEN DR | $539,900 | 4 | 3 | 2,949 | DETACHD | 5/11/2009 |
| 4040 VIRGINIA WAY | $595,000 | 4 | 2.1 | 2,484 | DETACHD | 5/11/2009 |
| 18490 RAY RIDGE DR | $679,900 | 4 | 3 | 3,426 | DETACHD | 5/15/2009 |
| 17455 BLUE HERON RD | $850,000 | 3 | 2 | 2,572 | DETACHD | 5/13/2009 |
| 3967 CANAL RD | $1,150,000 | 4 | 4 | 3,800 | DETACHD | 5/12/2009 |
| 2625 SUMMIT DR | $1,337,500 | 4 | 3.1 | 4,212 | DETACHD | 5/11/2009 |
| 624 ATWATER RD | $1,438,000 | 5 | 3.1 | 4,465 | DETACHD | 5/11/2009 |
| 18977 BARTON RD | $1,695,000 | 4 | 3.1 | 4,648 | DETACHD | 5/15/2009 |
| 397 FURNACE ST | $1,850,000 | 3 | 2.1 | 2,864 | DETACHD | 5/13/2009 |
| 13701 GOODALL RD | $2,475,000 | 4 | 4.1 | 6,028 | DETACHD | 5/14/2009 |
PENDING SALES (May 11-May 17, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | List Date | CDOM |
| 1897 BOCA RATAN DR | $237,100 | 3 | 2.1 | 1,739 | ATTACHD | 4/13/2009 | 33 |
| 5101 JEAN RD | $242,000 | 3 | 1 | 1,012 | DETACHD | 1/22/2009 | 233 |
| 200 Burnham RD | $264,850 | 2 | 2 | 1,313 | CONDO | 6/30/2007 | 682 |
| 1615 HALLINAN ST | $279,000 | 3 | 1.1 | 1,500 | DETACHD | 2/17/2009 | 86 |
| 1107 CEDAR ST | $324,999 | 4 | 3 | 2,485 | DETACHD | 5/11/2009 | 4 |
| 18307 LONGFELLOW AVE | $329,900 | 3 | 2 | 1,457 | DETACHD | 5/7/2009 | 262 |
| 18929 TERRY AVE | $356,950 | 4 | 2 | 2,065 | DETACHD | 3/30/2009 | 44 |
| 2317 STONEHURST CT | $749,900 | 4 | 2.1 | 4,455 | DETACHD | 5/1/2009 | 374 |
| 13874 TAYLORS CREST LN | $750,000 | 4 | 2.1 | 3,701 | DETACHD | 5/11/2009 | 3 |
| 5513 RACHEL LN | $799,999 | 4 | 2.1 | 3,149 | DETACHD | 4/16/2009 | 435 |
| 18224 Bella Terra DR | $1,294,000 | 4 | 4 | 4,050 | DETACHD | 4/11/2008 | 397 |
SOLD (May 11-May 17, 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 | List Date | CDOM |
| 4 TOUCHSTONE | $93,000 | $86,000 | 2 | 2 | 979 | CONDO | 4/10/2009 | 10 |
| 5235 OAKRIDGE RD | $324,900 | $290,000 | 3 | 2.1 | 1,576 | DETACHD | 11/18/2008 | 129 |
| 5441 DENTON DR | $599,000 | $599,000 | 3 | 2.1 | 3,331 | DETACHD | 1/26/2009 | 242 |
| 17706 MARYLBROOK DR | $685,000 | $623,500 | 3 | 2.2 | 3,039 | DETACHD | 12/14/2008 | 392 |
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.
~ The Dog Whisperer ~
There is such a panoply of amenities in Lake Oswego that Dianne and I have been talking about incorporating profiles of local favorites from time to time. I thought I’d begin with a very special person who I would be lost without… my local “dog-whisperer”, Valerie Pulley.
Ever notice that periodically certain topics tend to pop up any time you turn on the television or are in conversations with different groups of people? Lately it
seems it has been the subject of pets, and dogs in particular. We all know what a Portuguese Water Dog is now, thanks to “Beau” at the White House. I know our own friend & blogging cohort, Ron Ares, wrote a post most recently about his own dog, Nyree (left), adopted by the Ares family to save her from becoming a casualty of foreclosure. I’ve seen pieces on local and national news about the amazing number of dogs that have been abandoned or taken to shelters as fallout from the current economy, and it is heartbreaking to consider.
Recently, a friend of mine who has been experiencing the stress of the economy herself, told me a story that made me race out the door, camera and notepad in hand. My friend’s dog was badly in need of grooming, being a breed that really needs some professional upkeep. It had been awhile, and though she felt horrible about it, she just didn’t have the funds to spare. We both frequent the same wonderful dog groomer, Valerie Pulley, and she told me that Valerie was so concerned about her pooch that she called & asked my friend to please just come in and consider it her gift. Valerie knew the dog needed her attention, and decided that this was the most important thing. Well… word about special people like Valerie spreads quickly in a community like Lake Oswego, and while I don’t want to encourage others to solicit favors : ) I DO want folks to know about her, and others like her, and so a few words about this exceptional person:
Valerie has been a professional dog groomer since 1994 when she completed her schooling in Phoenix. Her mother was a dog breeder, and Valerie’s plan in the beginning was simply to assist her mother. It didn’t take her long to realize that she had a special talent, and wanted to make this her career. Valerie just loves dogs, and they tend to sense it. Her own
Staffordshire Terrier, Fedore, is her pride & joy, I’ve been taking my crazy black Standard Schnauzer, Kato (right) , to Valerie for years, and she is the only one who can calm him down enough to let his toenails be clipped. Turns out others have noticed this talent as well, and dog owners from far and wide bring their “hard to handle” pets to Valerie for tender loving care. Valerie mentions that “Some dogs have been kicked out of every grooming salon in Portland for biting, scratching, and generally squirming and freaking out. They bring them to me because I am the only one they’ve found to be able to handle them.” I 
ask her why she thinks this is, and she says “I’m just not afraid of them, and I care about them.” She has been working in the Lake Oswego area for around 12 years now, spending some of her career at the Lake Oswego Dog Shoppe, and now is working for Groomingdales in Tualatin on Nyberg Rd., just about five minutes from my house & a toe over the Lake Oswego borderline. A customer notices that I am interviewing Valerie and volunteers “I come here all the way from Sherwood. They’re so nice & so good I wouldn’t go anywhere else.” For my part, I’ll go anywhere Valerie is… and Kato is very grateful.
You can reach Valerie at: 503 692 WOOF (9663).
Market Activity Report ~ April 27th- May 3rd, 2009
We’re seeing activity at all phases and in all price ranges. Take a look at the spread- New listings, Pending sales, and Sold properties are coming in well represented from the lower to the higher ends of the price spectrum, and more higher-end homes are coming on the market. What we want to see is that “Sold” number start to climb, and this week we are at 8 of them, with 15 in Pending status, and 17 New properties coming on the market.
We’re also seeing that same trend continuing of properties achieving Pending status after only a week to 2 months, while the remainder of them are properties that have been on the market for 200 & 300+ days. Dianne and I both believe this is a “priced-right” signal, in that newer listings are priced to market demand, and more seasoned listings are finally at prices that meet the buyer where the buyer is comfortable.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (April 27—May 3, 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 |
| 4000 CARMAN DR | $149,500 | 2 | 2 | 935 | CONDO | 4/28/2009 |
| 5051 FOOTHILLS DR | $209,900 | 2 | 2 | 991 | CONDO | 4/30/2009 |
| 4325 COUNTRY WOODS CT | $334,900 | 3 | 2 | 1,346 | DETACHD | 4/27/2009 |
| 1858 SOUTHSHORE BLVD | $449,900 | 4 | 2 | 1,762 | DETACHD | 4/27/2009 |
| 4070 WESTBAY RD | $449,996 | 3 | 2 | 1,828 | DETACHD | 5/1/2009 |
| 2 PIMLICO TER | $479,900 | 4 | 2.1 | 2,301 | DETACHD | 4/27/2009 |
| 17144 Warren CT | $529,000 | 4 | 2.1 | 2,725 | DETACHD | 4/27/2009 |
| 13500 TWIN CREEK LN | $572,500 | 4 | 2.1 | 3,049 | DETACHD | 5/2/2009 |
| 4076 Orchard DR | $719,000 | 4 | 3.1 | 3,991 | DETACHD | 4/30/2009 |
| 1785 PALISADES TERRACE DR | $960,000 | 5 | 4.1 | 5,052 | DETACHD | 5/1/2009 |
| 17814 MARYLCREEK DR | $985,000 | 4 | 3.1 | 4,307 | DETACHD | 5/1/2009 |
| 3940 Canal RD | $999,900 | 4 | 3.1 | 3,922 | DETACHD | 5/3/2009 |
| 900 FAIRWAY RD | $1,094,000 | 4 | 3.1 | 3,508 | DETACHD | 4/28/2009 |
| 2778 GLENMORRIE DR | $1,750,000 | 5 | 4.3 | 6,263 | DETACHD | 5/3/2009 |
| 3917 SOUTHSHORE BLVD | $2,390,000 | 3 | 4.1 | 3,975 | DETACHD | 5/1/2009 |
| 1719 LAKE FRONT RD | $3,888,850 | 4 | 5.1 | 5,251 | DETACHD | 5/3/2009 |
| 1901 PALISADES TERRACE DR | $5,950,000 | 5 | 4.1 | 7,284 | DETACHD | 4/27/2009 |
PENDING SALES (April 27-May 3, 2009)
| ADDRESS |
LIST PRICE
|
TOT. BEDS
|
TOT. BATHS
|
TOT. SQ FT
|
PROP TYPE |
DOM
|
| Address | List Price | # Beds | # Baths | Total SF | Prop Type | List Date | CDOM |
| 4000 CARMAN DR | $144,000 | 2 | 2 | 932 | CONDO | 4/19/2009 | 8 |
| 16446 INVERURIE RD | $259,900 | 3 | 1 | 2,100 | DETACHD | 1/21/2009 | 303 |
| 15450 SW KIMBALL CT | $260,000 | 4 | 1.1 | 1,104 | DETACHD | 10/4/2008 | 208 |
| 4724 SW FIRWOOD RD | $279,900 | 3 | 1.1 | 1,240 | DETACHD | 7/7/2008 | 296 |
| 2130 WEMBLEY PARK RD | $299,900 | 3 | 1.1 | 1,544 | DETACHD | 1/14/2009 | 280 |
| 6025 KENNY ST | $299,900 | 3 | 1.1 | 1,258 | DETACHD | 4/16/2009 | 11 |
| 605 COUNTRY CLUB RD | $399,900 | 4 | 2.1 | 3,422 | DETACHD | 3/28/2009 | 163 |
| 2 OTHELLO ST | $405,000 | 4 | 3 | 2,265 | DETACHD | 11/18/2008 | 166 |
| 2957 GLEN EAGLES RD | $429,900 | 4 | 3 | 3,288 | DETACHD | 2/3/2009 | 87 |
| 54 AQUINAS ST | $499,900 | 3 | 2.1 | 2,802 | DETACHD | 4/7/2009 | 25 |
| 569 6TH ST | $550,000 | 4 | 2 | 2,168 | DETACHD | 4/22/2009 | 359 |
| 5868 SUNCREEK DR | $659,000 | 4 | 2.1 | 3,174 | DETACHD | 2/23/2009 | 68 |
| 5392 SOUTHWOOD DR | $774,900 | 5 | 3 | 3,871 | DETACHD | 4/15/2009 | 14 |
| 3515 UPPER DR | $1,098,000 | 4 | 3.1 | 4,061 | DETACHD | 3/27/2009 | 275 |
| 18253 Siena DR | $1,197,950 | 5 | 4 | 4,281 | DETACHD | 4/11/2008 | 382 |
SOLD (April 27-May 3, 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 | List Date | CDOM |
| 47 EAGLE CREST DR | $139,900 | $130,000 | 2 | 1 | 947 | CONDO | 1/30/2009 | 56 |
| 3844 BOTTICELLI ST | $219,900 | $219,373 | 2 | 2 | 1,132 | CONDO | 3/31/2009 | 5 |
| 17079 CHERRY CREST AVE | $430,000 | $390,000 | 3 | 2.1 | 3,002 | DETACHD | 11/3/2008 | 154 |
| 1009 CUMBERLAND PL | $525,000 | $395,000 | 4 | 3 | 2,294 | DETACHD | 11/12/2008 | 332 |
| 4676 WINTHROP CT | $639,900 | $525,000 | 4 | 2.1 | 3,112 | DETACHD | 11/18/2008 | 172 |
| 5772 BAY CREEK DR | $599,000 | $543,000 | 4 | 3 | 3,242 | DETACHD | 2/5/2009 | 58 |
| 14133 AMBERWOOD CIR | $850,000 | $740,000 | 4 | 2.1 | 3,200 | DETACHD | 6/12/2008 | 278 |
| 18475 CRESTLINE DR | $1,548,500 | $1,420,000 | 4 | 4.1 | 4,660 | DETACHD | 10/27/2008 | 148 |
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.
Condos, Town Homes, HOA’s, Oh My!
When looking for a new home and desiring easy care and potential community amenities such as pool, larger grounds, meeting space etc (without the responsibility of upkeep), most people will consider either a condo or a town home. Most also aren’t necessarily familiar with several relative factors important to the selection process, so I thought I’d highlight just a few for you here.
First of all, there is a difference between a condo and a town home ~
Let’s start with condos: A condo (condominium) is a kind of home ownership wherein the purchaser owns the air space inside the unit and joint interest in the common areas, typically the grounds, parking lot, any structures and amenities such as swimming pool, meeting rooms etc. Condo owners belong to an HOA (homeowners association) and pay dues for common expenses such as insurance and maintenance of common areas.
Townhomes are what we call “attached” homes, considered not free-standing and usually containing two or more stories. A purchaser owns the structure and the land on which it sits, and like a condo, generally joint interest in the common areas . Often with town homes you will have a small backyard or patio area which is in excess of what many condos provide, so gardeners or pet owners often find this more attractive. As in condo ownership, the town home owner typically pays monthly dues for upkeep of common areas and other amenities. It is wise to check into the insurance setup of on HOA to find out if it is supplied and therefore included in the monthly dues, or whether the town home purchaser needs to secure their own hazard insurance on the property.
Generally speaking, condos and town homes are attractive for more reasons than just low maintenance and the amenities they afford. They usually are priced well below what one would pay for a similar detached single family residence… or “house”. One thing to give attention to however, is finding out how much the HOA dues are, and what they cover. Does the HOA offer parking? water & sewer? trash collection? cable TV? Take these things into consideration and ask yourself how positively you are offset financially (or not) by being free of these normal expenses of home ownership.
Another thing to take into consideration is the solvency and efficiency of the HOA. I have listed condos and town homes and experienced neighbors in surrounding HOA’s visiting on Open House days, exploring the option of getting out of their own nearby complexes! This is reportedly due to the perception of either oppressive or mis-managed HOA’s. I’ve heard stories of frequently raised dues, extreme restrictions, and just plain inattentiveness… while the HOA next door treats its members with appreciation and service. Bottom line- check out the HOA:
- Call & obtain copies of at least the two most recent board meeting minutes,
- Obtain financial statements,
- Take a look at the Bylaws and Regulations,
- Find out how much the HOA has in reserves so you have an idea of whether they are in need of maintenance funds,
- Talk to a few neighbors and get a feel for their level of satisfaction ,
- Find out whether you might or might not be able to rent your unit out in the future if you so choose,
- Ask how many units are in the complex, and how many are allowed to be rental units,
- Does the HOA allow gardening in the back patio area?
- Are there any restrictions that will impact your lifestyle?
- Determine if there are any lawsuits anticipated or pending,
- Ask whether there are any big improvement projects planned which will require capital infusion (i.e. significant dues increases).
Condos and town homes are wonderful options for home ownership, and can be a great place to start as first time buyers, as well as a fantastic way to downsize once the kids are gone. Talk to your Realtor about what makes sense for you, and be sure to get all the facts!