There are many reasons why a person might prefer to live in a single level home. Some are purely by choice. Things like the easy of movement while carrying laundry, or the preference for vaulted ceilings. Others are truly out of necessity due to disabilities whether they be mobility problems, advancing age, or even blindness. But for many people, living in a 1-level home is their preference.
For these people, when they go to purchase a home, it means that they have a much smaller inventory of homes to select from. And for the seller of a 1-level home, it means that they have a very specific niche in the real estate market. So when a single level home comes up for sale, it is likely to be well received by buyers.
Some quick statistics: in the year 2000, the size of the U.S. population that was age 65 or older was 35,000,000 people or 12.4% of the population. It is projected that by the year 2030 that percentage will grow to 19.6%, or 71,000,000 people. This means that the desirability of a one-level home is only going to increase.
Now the twist, just as the demand for single level homes in increasing, the availability of land to build single level homes is decreasing, at least in Oregon. Every city and county has building codes that require specific distances, or set backs, from the property lines. A builder is simply restricted to foundations that fit within the set backs of any particular piece of property. Because a 1-level home usually has a larger foundation, it means that the smaller lots that are common in today’s developments do not have the area necessary to build 1-level homes. And this means that the land that is big enough to build a 1-level home will cost more because it is larger. It also means that the 1-level homes that currently exist will be high-demand and valuable into the future.
An important concept to understand when you are buying or selling a single level home is how the value compares to other properties. Why is it that a 1500 square foot, single level home, can sell for as much as a 2000 square foot 2-story home? This goes back to the construction of the building. The two most expensive components in building a home are the roof and the foundation. When you have a 2-story house, this big expense goes twice as far. So a 1-level home is more expensive to build per square foot, and through out it’s life of being purchased and sold it will continue to pass along this higher expense.
So if you are lucky enough to have a 1-level home, I hope that you feel good about your investment. If you are looking to buy a 1-level home, there are currently 70 of them for sale in Lake Oswego. The least expensive is 1346 square feet with 3 bedrooms, 1 1/2 baths, and was built in 1956. It is listed for $229,900. The most expensive is 5389 square feet, with 4 bedrooms, 3 1/2 baths, and was built in 1993. It is listed for $1,850,000. The other 68 single level homes for sale cover every sort of size and pricing.
Whether you are wanting to buy or sell, whether you want a 1-level or several levels, Linda and I are here to help. Please do not hesitate to give us a call or to drop us an e-mail.
Dianne
Spring is traditionally the strongest time of year to sell your home. If you want to sell, you need to get your home ready. You want to win the beauty pageant. The place to start, before you list your home for sale, is with proper home staging. The way you live in your home and the way you sell your home are two different things. It does add a layer of care to your already busy life, but it will payoff when you sell by getting your home sold more quickly and by helping you to get the best price possible.
At the top of this article is a photo of my listing in Mt. Park. I want you to compare that photo to the one that you find to the right. Can you see the big improvement? The photo to the right is how this room used to look. This was not a home with a problem of clutter. This was a house that needed to show case the homes features. The home owner moved the living room furniture to the other end of the room in order to showcase the wonderful windows. Where a TV cabinet had blocked windows, now what you see is light and sunshine. In addition, the owner replaced several windows that had broken seals. Now when you walk in, you step back and feel the wow factor. That is what sells a house.
Along with my own open house at 4447 Golden Lane, there are a total 17 opens planned for Lake Oswego on May 24th. I’d love to have you come by to see me tomorrow. My listings is a 1616 square foot townhouse in Mt. Park. Recent updates include gorgeous granite counters in the kitchen, laminate flooring, and new windows. It has 2 large bedrooms and 2 1/2 baths. Probably the nicest feature is that it has huge, south-facing windows that look out across trees and well-cared for landscaping. It is also an end unit. It’s priced at $255,000. I’ll be there from 2 to 5pm. You’ll find my signs at the corner of Melrose and Fosberg and from there you can easily follow them into the complex on Thundervista.
It’s time to showcase another of Lake Oswego’s wonderful neighborhoods, Westridge. Westridge is not very large. According to 
Second, it has two terrific parks. Cooks Butte Park is on the Eastern edge of Westridge. It’s 42 acres of natural area. It’s what is called a passive park. In other words, it is left quite natural with soft-surface trails for hiking, but not a lot of development such as picnic structures or play grounds. It is best enjoyed for the trees, the trails, and the views. The top of the park has an elevation of 718′. It’s a wonderful spot to hike up to and then sit and watch the sunset. The other park is Westridge Park. It’s adjacent to Westridge Elementary School. It’s 2.2 acres and has a playground, a volleyball area, and a soccer/little league field. This is where you take the kids to burn off some energy and to enjoy a fine, sunny afternoon.
Housing in Westridge is all single family homes. There are no condominiums or apartment buildings. The pricing of what is currently for sale goes from a low of $498,500 for a 2670 square foot home with 4 bedrooms and 3 baths, to a high of $899,900 for a 3243 square foot home also with 4 bedrooms and 3 baths. I would say that the most basic criteria for the variation in pricing is whether the home has been updated or not. The neighborhood was mostly built in the 1970’s and 1980’s. So if the house still has original kitchen, baths, woodwork and windows, it is just not going to be worth as much as a house that is
I want to point out a house that Linda and I visited on Broker’s tour on May 5th, 9 Westminster Dr. This home is an excellent example of great value. Built in 1976, it has been extensively updated. The kitchen and baths are all recent. There is new paint and flooring. The house has 3814 square feet, with 4 bedrooms and 2 1/2 baths. Probably the most distinguishing feature is a wonderful sunroom that allows you to sit and enjoy the garden all year round. The landscaping is exceptional. There is extensive brick work in patios and outdoor entertaining areas. The yard has sprinklers and it looks to me as though a professional was involved in the layout. It is really wonderful. Priced at just $597,000 it is a stand out for value. I tell people that in this market it is both a beauty pageant and a price war. I think this house wins in both categories.