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!
Last week brought us 20 genuinely new listings, 10 Pending sales, and 6 closed sales. It was a very slight up-tick in all 3 areas. Probably the normal activities associated with the spring market, but still well behind the spring sales of the last few years.
NEWLY LISTED (April 20—26, 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
$137,500
2
1
932
CONDO
4/26/2009
65 OSWEGO SMT
$169,900
2
2
1,140
CONDO
4/23/2009
65 CHURCH ST
$179,900
2
1.1
1,040
CONDO
4/23/2009
4000 CARMAN DR
$179,900
2
2
1,100
CONDO
4/21/2009
578 S STATE ST
$209,500
2
1
914
CONDO
4/20/2009
17928 ROYAL CT
$299,900
3
2
1,272
DETACHD
4/22/2009
16266 LAKE FOREST BLVD
$374,999
3
2
1,860
DETACHD
4/20/2009
440 BOCA RATAN DR
$419,900
3
2
1,932
DETACHD
4/20/2009
14798 DAVIS LN
$424,900
3
2.1
1,670
ATTACHD
4/22/2009
2851 PARK RD
$429,950
4
2.1
2,674
DETACHD
4/20/2009
875 LEE ST
$499,900
3
2
2,442
DETACHD
4/23/2009
9 SW WESTMINSTER DR
$597,000
4
2.1
3,814
DETACHD
4/24/2009
13275 TWIN CREEK CT
$599,000
4
2.1
3,041
DETACHD
4/25/2009
5382 ROYAL OAKS DR
$600,000
4
2.1
2,970
DETACHD
4/21/2009
17950 MEADOWLARK LN
$665,000
5
3
2,710
DETACHD
4/21/2009
2814 VALE CT
$719,900
4
3
3,192
DETACHD
4/25/2009
14135 EDENBERRY DR
$799,900
4
2.1
3,174
DETACHD
4/24/2009
17512 GREENBLUFF DR
$1,074,900
4
4
3,777
DETACHD
4/21/2009
1901 CHERYL CT
$1,399,500
4
4.1
4,863
DETACHD
4/20/2009
13575 GOODALL RD
$1,599,000
4
4.1
4,271
DETACHD
4/26/2009
PENDING SALES (April 20-26, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
table >
Address
List Price
# BR
# BTHS
Total SF
Prop Type
CDOM
4 TOUCHSTONE
$93,000
2
2
979
CONDO
10
100 KERR PKWY
$132,500
2
1.1
823
CONDO
35
204 CERVANTES
$248,900
3
1.1
1,138
CONDO
79
925 IRON MOUNTAIN BLVD
$269,900
3
2
2,070
DETACHD
626
5054 FOOTHILLS DR
$278,500
2
2
1,312
CONDO
295
820 MCVEY AVE
$299,900
3
1.1
1,446
DETACHD
489
18601 WAXWING ST
$425,000
4
2
1,908
DETACHD
26
1699 VILLAGE PARK LN
$675,000
3
2.2
2,936
DETACHD
44
5868 SUNCREEK DR
$694,000
4
2.1
3,174
DETACHD
56
115 BERWICK RD
$998,000
4
3.1
4,000
DETACHD
39
SOLD (April 20-26, 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
6317 CARMAN DR
$275,000
$219,000
3
1.1
1,344
DETACHD
77
1043 HALLINAN ST
$499,900
$385,000
4
2.1
2,484
DETACHD
196
1265 ROCKINGHORSE LN
$499,900
$395,000
4
3
2,402
DETACHD
237
845 LAKE FOREST DR
$459,000
$399,000
3
1.1
1,359
DETACHD
68
17960 RIDGE LAKE DR
$720,000
$607,500
4
2.1
3,124
DETACHD
271
1667 VILLAGE PARK LN
$1,100,000
$845,000
6
3.1
4,743
DETACHD
279
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.
Well, the cherry trees are in full bloom, temps are in the 80’s, and real estate activity continues to move forward… a gradually enlivened, seasonal bustle.
Lake Oswego saw 22 new properties hit the market last week. We had 10 go pending, and 2 that closed. So, nothing earth shattering in the “sold” department, but encouraging nonetheless.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (April 13—19, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
LIST DATE
Address
List Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
100 SW KERR PKWY
$97,900
1
1
617
CONDO
4/13/2009
4000 CARMAN DR
$144,000
2
2
935
CONDO
4/19/2009
82 OSWEGO SMT
$234,900
2
2
1,212
CONDO
4/17/2009
1897 BOCA RATAN DR
$249,480
3
2.1
1,739
ATTACHD
4/13/2009
6025 KENNY ST
$299,900
3
1.1
1,258
DETACHD
4/16/2009
17683 NICOLE LN
$324,900
3
2
1,200
DETACHD
4/13/2009
16824 SW INVERURIE RD
$389,900
3
3
1,896
DETACHD
4/13/2009
3009 WEMBLEY PARK RD
$395,000
3
1.1
1,754
DETACHD
4/13/2009
18220 BICKEL CT
$399,000
3
3
2,075
DETACHD
4/18/2009
1023 LUND ST
$419,000
4
2.1
2,313
DETACHD
4/18/2009
68 TOUCHSTONE
349900 – 424880
5
4.1
3,148
DETACHD
4/14/2009
510 2nd ST
$439,000
2
1.2
1,520
CONDO
4/13/2009
19061 INDIAN SPRINGS RD
$479,900
4
3
2,341
DETACHD
4/16/2009
4920 MULHOLLAND DR
$555,000
3
2.1
2,498
ATTACHD
4/17/2009
15943 WHITE OAKS DR
$559,500
4
2.1
2,746
DETACHD
4/16/2009
4672 AUBURN LN
$575,000
3
3.1
2,732
ATTACHD
4/15/2009
4114 GLACIER LILY ST
$599,000
4
2.1
2,470
DETACHD
4/19/2009
5421 Bay Creek DR
$649,500
4
2.1
3,241
DETACHD
4/17/2009
133 FURNACE ST
$695,000
2
2.1
1,927
CONDO
4/16/2009
5392 SOUTHWOOD DR
$774,900
5
3
3,871
DETACHD
4/15/2009
301 IRON MOUNTAIN BLVD
$1,150,000
4
3.2
3,004
DETACHD
4/14/2009
19007 EASTSIDE RD
$1,390,000
4
3.1
4,651
DETACHD
4/14/2009
PENDING SALES (April 13-19, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
List Price
# Beds
Tot. Baths
Total SF
Prop Type
List Date
CDOM
13880 SUNDELEAF DR
$234,500
2
1
976
DETACHD
1/23/2009
84
1635 ASPEN ST
$319,900
3
2.1
1,618
DETACHD
3/24/2009
285
3 CELLINI CT
$449,000
4
2.1
2,531
DETACHD
1/19/2009
86
11 BECKET ST
$465,000
3
2.1
4,030
DETACHD
4/9/2009
111
80 TANGLEWOOD DR
$469,000
5
3
2,713
DETACHD
10/11/2008
371
855 7TH ST
$469,900
4
1
1,392
DETACHD
8/18/2008
240
13470 PETERS RD
$474,900
3
2.1
2,324
ATTACHD
4/1/2009
15
19431 KOKANEE CT
$529,000
4
2.1
2,250
DETACHD
4/9/2009
8
595 D AVE
625000
3
2
3,760
DETACHD
2/2/2009
309
1915 SW CHILDS RD
1594950
5
5.2
5,689
DETACHD
3/14/2008
397
SOLD (April 13-19, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
O/Price
Close Price
# Beds
Tot. Baths
Total SF
Prop Type
CDOM
92 GALEN ST
$119,500
$100,500
1
1
689
CONDO
42
615 LAKE BAY CT
$669,900
$505,000
3
3
2,542
DETACHD
190
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.
Ok, call me the harbinger of good weather every time it’s my turn to list the Open Houses for you… but it’s true! Sunday is supposed to be gorgeous! Great house-hunting weather. There are 17 really diverse properties to see on Sunday in Lake Oswego. Happy hunting.
Here are those that will be held open according to RMLS:
100 SW Kerr Way $97,900 1 Bd, 1 Ba Open 1-3
4041 Jefferson Pkwy $229,000 1 Bd, 1 1/2 Ba Open 2-4
4465 Golden Ln $299,900 2 Bd, 2 1/2 Ba Open 12-4
3 St. Helens Cir $359,000 2 Bd, 2 Ba Open 1-3
1685 Mapleleaf Rd $365,000 3 Bd, 2 Ba Open 1-4
17311 Ashley Ct $385,000 4 Bd, 2 1/2 Ba Open 1-3
14371 Holly Springs Rd $414,900 4 Bd, 2 1/2 Ba Open 2-4
108 Ridgeway Rd $425,000 3 Bd, 1 Ba Open 1:30-3
3254 Duncan Dr $549,900 4 Bd, 3 1/2 Ba Open 2-4
161 C Ave $549,900 2 Bd 2 1/2 Ba Open 1-4
4 Da Vinci St $599,950 5 Bd, 3 Ba Open 1-3
580 Weidman Ct $695,000 5 Bd, 3 1/2 Ba Open 1-3
2888 Vale Ct $699,000 5 Bd, 3 Ba Open 1-3
15543 Village Dr $ 799,000 4 Bd, 2 1/2 Ba Open 2-3:30
2 Grouse Ter $ 799,000-$850,000 4 Bd, 3 Ba Open 1-3
943 SW Atwater Rd $999,500 4 Bd, 2 1/2 Ba Open 1-4
As many of you know, Dianne and I tour Lake Oswego every Tuesday. We use this scheduled time to view properties that are new on the market, and also to take a look at some we may have missed along the way. Our aim is to be inside every property we possibly can in our community in order to better serve our clients and readers.
Yesterday I meant to take you along with us as we toured, but forgot my camera (darn it!). I did, however, decide to pass along a few properties that we both believe are worth noting. So, here we go:
(All square footage and house info used is from listing agents’ data in RMLS so, deemed reliable, but not guaranteed by the Property Blotter.)
3190 Duncan Drive – This property is 2401 SF, 3 bedrooms, 2 1/2 baths, built in 1986, and is bank-owned. It is at the bottom end of a long, steep, private drive shared by a couple of properties, and sits on a hill/perched above Boones Ferry Rd., which you can hear when outside, but not really see too well through the beautiful, natural greenery surrounding the home. Practically speaking, you enter from the driveway side into the kitchen area. Double attached garage, deck, large laundry room… generous living room w/fireplace opening to a dining room… flows nicely. Nice master on the main with walk-in closet and jetted tub. Large bath and bedrooms upstairs… You’d want to do some updating, especially in the kitchen and with flooring/new carpeting, but this just seems like a great opportunity in Lake Oswego for someone at $259,900!
4411 Lakeview Blvd.– This home is a split level (sometimes I confess not to like them personally), but this one is a nice layout with a very open entry where you feel like you’re in the living room as you are entering/not in a little hallway as some tend to feel. It is 1828 SF, 4 bedrooms, 2 baths, built in 1972 and remodeled. It has seasonal lake views, and is basically across the street from the water. It is close to the intersection of Bryant and Lakeview, and so is close to schools, shops etc etc etc. It is just a really nice house with a great flow, and tasteful updates. Enter the back from a sitting room off the kitchen with beautiful picture window. The backyard is large & very relaxing.You’ll hear the train when it passes (I happen to LOVE the sound), but you’ll be in good company! …other homes on Lakeview currently for sale range from $425,000 to $7,500,000. The listing agent states: “Sellers will entertain offers between $299,000 and $338,876.” This home is also listed as a “possible short sale w/one lender”. I am told that the Broker’s Price Opinion (BPO) has already been finished, and the listing agent’s experience is that the Rep is very responsive. Seems like a great deal to me, especially at the bottom end of the range that is specified!
18791 Indian Creek Way – This property is 1965 SF, 3 bedrooms, 2 baths, built in 1977 and remodeled. When we say remodeled, this one is really gorgeous. Dianne and I both looked at each other and said “This is nicely done.” The living room and fireplace are inviting, the feel is open and airy, there are stainless gas appliances, a wine fridge, 2 gas fireplaces, hardwoods, vinyl windows… lots of them, skylights, and a beautiful backyard patio surrounded by English Gardens (it was evidently featured in Sunset magazine) great for entertaining. The home is advertised as having Bryant Woods pool membership, and proximity to the grade school and middle school is excellent. The price on this one is $439,900. Compare what’s out there… this one is special. 1921 Park Forest Ct– This home is 2531 SF, 3 bedrooms, 2 1/2 baths, built in 1975 & remodeled. The owners have relocated, and I have to say that both Dianne and I were very impressed with this one. The owners took great care in special details, and this home includes high-end features like a gourmet kitchen with beautiful slab quartz countertops, a spa w/fireplace, walk-in stone & tile steam shower, air jet tub & heated floors. The plank wood floors are a favorite of mine. The windows in the living room are large and feature beautiful tree’d views, the baseboard detail is stonework throughout the home, and there is a hot tub outside which is included “as is”. This one is situated above SouthShore Rd in back. Greentree Pool and Lake Easement is advertised as available. The entry to this home is deceiving… Once you’re in the door you feel like you’re on vacation. There is a water feature to your left as you enter, and the beautiful quartz kitchen with spacious pantry to your right. Walk in and the fireplace and windows say “relax”. The owners wanted that “spa feel” throughout. The asking price is $529,000.
17675 Cardinal Drive – This home on the Blue Heron Canal is 3458 SF, 3 bedrooms and 3 baths, built in 1966 and is advertised as a fixer. Dianne and I took a look at it yesterday, and were very impressed with the waterfront location. The living room is open and the window views are out onto the deck & water. The home needs extensive cosmetic fixing such as wallpaper removal, flooring updates, kitchen updates, etc. We are not inspectors, but truly, the feel is of a solid home that has been well lived in with just not much attention to updating. At $599,000 on the canal, I’d say this one deserves some attention.
Hope this information is useful to you. As always, feel free to email or call for more info or some help in locating or viewing these properties. There are lots of great buys out there!
It feels like the new listings are coming onto the market in a fairly consistent way with 15 to 20 new listings, not “refreshed” but actually new, each week. Last week we saw 16 new listings. There were 4 pending sales and 5 closed listings. I keep waiting to see evidence of the spring market kicking in. That would be reflected in an increase in both pending and closed sales. So far, it remains a bit sluggish. On the plus side, we have one pending sale at close to $1,000,000. The remainder of the pending and closed sales continue to favor the more moderately priced homes. I am also continuing to see that the cumulative days on the market continue to embrace both extremes. It seems like houses that were over-priced, and that have gradually bitten the bullet to bring the price down to a point where price meets market demand, are selling with very long market times. The other extreme are the new listings that are able to look at current market conditions, price realistically, and are selling in a very short period of time.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (April 6—April 12, 2009)
Address
List Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
Address
List Price
# BR
# BTHS
Total SF
Prop Type
List Date
4 TOUCHSTONE
$93,000
2
2
979
CONDO
4/10/2009
3433 MCNARY PKWY
$169,900
2
2
1,008
CONDO
4/8/2009
18055 CENTRAL AVE
$299,000
2
2
1,202
DETACHD
4/10/2009
15256 BOONES WAY
$339,900
2
2.1
1,600
ATTACHD
4/12/2009
1716 HALLINAN ST
$369,500
3
3
1,916
DETACHD
4/10/2009
4105 DOUGLAS WAY
$384,900
7
2.1
2,856
DETACHD
4/12/2009
54 AQUINAS ST
$499,900
3
2.1
2,802
DETACHD
4/7/2009
6 NORTHVIEW CT
$525,000
4
3.1
3,188
DETACHD
4/10/2009
73 TANGLEWOOD DR
$539,000
4
3.1
3,576
DETACHD
4/9/2009
1025 C AVE
$549,000
3
2
2,261
DETACHD
4/7/2009
2925 ORCHARD HILL PL
$549,000
3
2.1
2,418
DETACHD
4/9/2009
4 DA VINCI ST
$599,950
5
3
3,100
DETACHD
4/6/2009
13456 PROVINCIAL HILL WAY
$639,900
3
2.1
2,771
DETACHD
4/6/2009
18402 ANDUIN TER
$699,995
5
3.1
4,302
DETACHD
4/6/2009
18025 SKYLAND CIR
$1,425,000
4
3.2
5,379
DETACHD
4/6/2009
616 CABANA LN
$2,795,000
5
4
3,800
DETACHD
4/6/2009
PENDING SALES (April 6—April 12, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQFT
PROP TYPE
DOM
Address
List Price
# BR
# BTHS
Total SF
Prop Type
CDOM
3190 DUNCAN DR
$259,900
3
2.1
2,401
DETACHD
115
17079 CHERRY CREST AVE
$430,000
3
2.1
3,002
DETACHD
154
615 LAKE BAY CT
$599,000
3
3
2,542
DETACHD
323
716 MCVEY AVE
$959,998
3
2
2,348
DETACHD
805
SOLD (April 6—April 12, 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
4640 LOWER DR
$189,900
$115,000
2
1.1
1,170
CONDO
572
127 OSWEGO SMT
$184,900
$179,595
2
2
1,212
CONDO
0
5063 FOOTHILLS DR
$230,000
$225,000
2
2
991
CONDO
8
16 PARTRIDGE LN
$418,900
$398,000
3
2.1
2,304
DETACHD
48
731 F AVE
$939,000
$605,000
4
2.1
2,668
DETACHD
327
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. CDOM stands for cumulative days on market, which includes any re-listing and measures from the initial listing date.
Yes, it does say open house and not open houses. It must be Easter Sunday because there is only one house being promoted for an open house this Sunday, in Lake Oswego, by the RMLS. I hope everyone will go by and tell this Realtor that they are giving it a great effort by being there on Easter. The property is at:
Two weeks ago I posted information about Tryon Creek State Park and mentioned that there are two neighborhoods in Lake Oswego with trail access into the Park. One is First Addition and the other is Forest Highlands. In our archives you’ll find a neighborhood profile for First Addition, and now you will also find this one for Forest Highlands.
Forest Highlands is located on the North side of Lake Oswego. It’s Southern boundary is Country Club Rd. It’s Western boundary is Boones Ferry Rd. It’s Northern boundary is the city limits, and it’s Eastern boundary is First Addition. It is 1.198 square miles in size.
The most striking characteristic of the neighborhood is that the houses are mostly situated on large lots. To put this into perspective, the average density of the population of Lake Oswego is 3410 people per square mile. In Forest Highlands it is 1353 people per square mile. Fewer people and fewer homes means that the area feels spacious: not at all like a subdivision. It feels like an area of fine estates. That is not to say that all of the houses are mansions.
There is, in fact, a beautiful condominium development in Forest Highlands, Red Fox Hills. The condominiums are all townhouse style: they are attached on the sides but do not have neighbors above or below. Amenities include expansive lawns and gardens as well as a pool and a recreation facility. Current pricing ranges from $226,000 for a 2 bedroom, bath and a half unit, to $399,000 for a 3 bedroom, 2 full bath unit. All units have garages.
For detached homes the range is much more broad. The least expensive house currently listed is $439,800. Built in 1973, it has 1812 square feet with 3 bedrooms and 2 baths. It’s on a cul-de-sac and the lot is .28 of an acre. The most expensive currently listed is $2,995,000. It was built in 2006 with 7582 square feet, 6 bedrooms and 5 and a half baths. It’s on 1.89 acres.
Besides large lots, another characteristic of the area is that many homes have Mt. Hood views. The entire neighborhood is located on a gentle slope that faces East. Not all houses have views, but a surprising number of them do.
Then I like the street names: Hideaway Ct, Tippecanoe Ct, Dapple Grey Ln, Pebble Beach Ct, Rockinghorse Ln. Who wouldn’t want to live on Hideaway Ct? Except for Livingood Lane over in the Palisades neighborhood, I think Tippecanoe Ct is my favorite street name in Lake Oswego.
And then there is that wonderful proximity to Tryon Creek Park. The entrance from Forest Highlands is at the turn about at the end of Boca Ratan Dr (right behind Red Fox Hills).
It’s just a very pretty area. As you know if you have been looking at real estate in Oregon, or if you live in Oregon, our land use laws have created fairly high-density housing in order to preserve more of our farms and forests. So when a client asks me to recommend homes with larger lots, lots as big as an acre, the first neighborhood that comes to my mind in Lake Oswego is Forest Highlands.
Ok, things are starting to get interesting- Lake Oswego saw 29 new properties hit the market last week (these are properties that are brand new on the market -or- have been off the market for a minimum of 30 days). All told, there were 45 that are either truly new, or have been “freshened” showing as new listings. (Dianne and I will have plenty to see on tour tomorrow!) We had 7 go pending, and 6 that closed, so sales remain steady for now at this rate.
The headlines read: “Mortgage Rates Drop to Record Lows”. According to Bankrate.com, the benchmark 30-year fixed-rate mortgage has dropped 6 basis points to 5.13%. The benchmark 15-year, fixed-rate mortgage fell 7 basis points to 4.73%. Mortgage rate applications are up, and many are taking advantage of the 2009 $8,000. tax credit for first time buyers. (Click here for more info from the NAR.)
We can expect to see these factors start to significantly affect market activity. The rise in the number of new listings appears to indicate renewed confidence along with seasonal upswing, and consistent sales activity likely indicates pent-up demand starting to surface, as you’d expect with the incentives of low rates and plentiful options.
Here is the latest market activity for Lake Oswego (see below the tables for additional notes):
NEWLY LISTED (March 30—April 5, 2009)
Address
List Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
Address
List Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
Address
List Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
47 EAGLE CREST DR
$132,900
2
1
932
CONDO
4/2/2009
86 KINGSGATE RD
$155,000
2
2
849
CONDO
4/2/2009
86 KINGSGATE RD
$159,900
2
2
924
CONDO
4/3/2009
86 KINGSGATE RD
$169,000
2
2
849
CONDO
3/31/2009
165 OSWEGO SMT
$199,900
2
2
1,383
CONDO
4/3/2009
4230 COLLINS WAY
$289,000
3
2
1,512
DETACHD
4/1/2009
4465 GOLDEN LN
$299,900
2
2.1
1,980
CONDO
4/2/2009
6025 SW CARMAN DR
$299,900
3
1.1
1,346
DETACHD
4/5/2009
18929 TERRY AVE
$374,950
4
2
2,065
DETACHD
3/30/2009
19060 INDIAN SPRINGS CIR
$399,900
3
2
1,525
DETACHD
4/1/2009
37 BERWICK RD
$425,000
5
2
2,198
DETACHD
3/30/2009
13470 PETERS RD
$474,900
3
2.1
2,324
ATTACHD
4/1/2009
2650 DELLWOOD DR
$499,000
4
3
3,238
DETACHD
4/1/2009
161 C AVE
$549,900
2
2.1
1,719
ATTACHD
4/1/2009
6110 CHILDS RD
$550,000
4
3
3,258
DETACHD
4/1/2009
400 LAKE BAY CT
$579,900
3
2.1
1,680
DETACHD
4/1/2009
2830 PARK RD
$625,000
4
3.1
3,116
DETACHD
3/31/2009
2188 OVERLOOK DR
$639,900
4
2.1
2,618
DETACHD
3/30/2009
246 GREENWOOD RD
$674,900
3
3
2,125
DETACHD
4/1/2009
15671 VILLAGE DR
$724,000
3
2.1
3,390
DETACHD
4/2/2009
16616 LAKE FOREST BLVD
$750,000
4
2.1
3,314
DETACHD
4/1/2009
15543 VILLAGE DR
$799,000
4
2.1
3,081
DETACHD
3/31/2009
17215 LOWENBERG TER
$850,000
4
2.1
2,819
DETACHD
4/2/2009
13711 FIELDING RD
789000 – 898876
3
4
4,649
DETACHD
3/30/2009
511 6TH ST
$988,000
5
3.1
4,000
DETACHD
4/2/2009
917 Evergreen ST
$1,000,000
4
3.1
2,700
DETACHD
3/30/2009
17960 SARAH HILL LN
$1,179,000
5
3.1
4,800
DETACHD
4/1/2009
1099 TROON RD
$1,250,000
5
3.1
3,938
DETACHD
3/30/2009
13371 ATWATER LN
$1,299,900
4
3
4,795
DETACHD
4/5/2009
PENDING SALES (March 30—April 5, 2009)
ADDRESS
LIST PRICE
TOT. BEDS
TOT. BATHS
TOT. SQFT
PROP TYPE
DOM
Address
List Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
CDOM
Address
List Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
CDOM
3844 BOTTICELLI ST
$219,900
2
2
1,132
CONDO
3/31/2009
5
18307 LONGFELLOW AVE
$329,900
3
2
1,457
DETACHD
8/23/2008
222
785 5TH ST
$399,900
3
2
2,208
DETACHD
11/18/2008
132
13581 GOODALL RD
$550,000
3
2
1,220
DETACHD
10/10/2008
575
5772 BAY CREEK DR
$574,500
4
3
3,242
DETACHD
2/5/2009
58
12611 BOONES FERRY RD
$599,900
5
3.1
4,042
DETACHD
2/17/2009
142
2900 WEMBLEY PARK RD
$697,000
4
2.1
3,383
DETACHD
3/31/2009
4
SOLD (March 30—April 5, 2009)
ADDRESS
ORIG. PRICE
SALE PRICE
TOT. BEDS
TOT. BATHS
TOT. SQ FT
PROP TYPE
DOM
Address
Orig Price
Sale Price
# Beds
# Baths
Tot. SF
Prop Type
List Date
CDOM
Address
O/Price
Close Price
# Beds
# Baths
Tot. SF
Prop Type
CDOM
4 TOUCHSTONE
$129,900
$125,000
2
2
979
CONDO
192
4470 CHAPMAN WAY
$380,000
$310,000
3
3
2,125
DETACHD
188
2800 WEMBLEY PARK RD
$374,500
$342,000
3
2
1,575
DETACHD
10
1228 HALLINAN CIR
$389,000
$375,000
4
2
1,932
DETACHD
7
625 CLARA CT
$587,500
$542,000
3
2.1
2,532
DETACHD
297
13222 DEERFIELD CT
$649,000
$600,000
4
2.1
3,022
DETACHD
331
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. CDOM stands for cumulative days on market, which includes any re-listing and measures from the initial listing date.
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.
Well, the cherry trees are in full bloom, temps are in the 80’s, and real estate activity continues to move forward… a gradually enlivened, seasonal bustle.
3190 Duncan Drive – This property is 2401 SF, 3 bedrooms, 2 1/2 baths, built in 1986, and is bank-owned. It is at the bottom end of a long, steep, private drive shared by a couple of properties, and sits on a hill/perched above Boones Ferry Rd., which you can hear when outside, but not really see too well through the beautiful, natural greenery surrounding the home. Practically speaking, you enter from the driveway side into the kitchen 
area. Double attached garage, deck, large laundry room… generous living room w/fireplace opening to a dining room… flows nicely. Nice master on the main with walk-in closet and jetted tub. Large bath and bedrooms upstairs… You’d want to do some updating, especially in the kitchen and with flooring/new carpeting, but this just seems like a great opportunity in Lake Oswego for someone at $259,900!
4411 Lakeview Blvd.– This home is a split level (sometimes I confess not to like them personally), but this one is a nice layout with a very open entry where you feel like you’re in the living room as you are entering/not in a little hallway as some tend to feel. It is 1828 SF, 4 bedrooms, 2 baths, built in 1972 and remodeled. It has seasonal lake views, and is basically across the street from the 
water. It is close to the intersection of Bryant and Lakeview, and so is close to schools, shops etc etc etc. It is just a really nice house with a great flow, and tasteful updates. Enter the back from a sitting room off the kitchen with beautiful picture window. The backyard is large & very relaxing.You’ll hear the train when it passes (I happen to LOVE the sound), but you’ll be in good company! …other homes on 
Lakeview currently for sale range from $425,000 to $7,500,000. The listing agent states: “Sellers will entertain offers between $299,000 and $338,876.” This home is also listed as a “possible short sale w/one lender”. I am told that the Broker’s Price Opinion (BPO) has already been finished, and the listing agent’s experience is that the Rep is very responsive. Seems like a great deal to me, especially at the bottom end of the range that is specified!
18791 Indian Creek Way – This property is 1965 SF, 3 bedrooms, 2 baths, built in 1977 and remodeled. When we say remodeled, this one is really gorgeous. Dianne and I both looked at each other and said “This is nicely done.” The living room and fireplace are inviting, the feel is open and airy, there are stainless gas appliances, a wine fridge, 2 gas fireplaces, hardwoods, vinyl
windows… lots of them, skylights, and a beautiful backyard patio surrounded by English Gardens (it was evidently featured in Sunset magazine) great for entertaining. The home is advertised as having Bryant Woods pool membership, and proximity to the grade school and middle school is excellent. The price on this one is $439,900. Compare what’s out there… this one is special.
1921 Park Forest Ct– This home is 2531 SF, 3 bedrooms, 2 1/2 baths, built in 1975 & remodeled. The owners have relocated, and I have to say that both Dianne and I were very impressed with this one. The owners took great care in special details, and this home includes high-end features like a gourmet kitchen with beautiful slab 
quartz countertops, a spa w/fireplace, walk-in stone & tile steam shower, air jet tub & heated floors. The plank wood floors are a favorite of mine. The windows in the living room are large and feature beautiful tree’d views, the baseboard detail is stonework throughout the home, and there is a hot tub outside which is 
included “as is”. This one is situated above SouthShore Rd in back. Greentree Pool and Lake Easement is advertised as available. The entry to this home is deceiving… Once you’re in the door you feel like you’re on vacation. There is a water feature to your left as you enter, and the beautiful quartz kitchen with spacious pantry to your right. Walk in and the fireplace and windows say “relax”. The owners wanted that “spa feel” throughout. The asking price is $529,000.
17675 Cardinal Drive – This home on the Blue Heron Canal is 3458 SF, 3 bedrooms and 3 baths, built in 1966 and is advertised as a fixer. Dianne and I took a look at it yesterday, and were very impressed with the waterfront location. The living room is open and the window views are out onto the deck & water. The home needs 
extensive cosmetic fixing such as wallpaper removal, flooring updates, kitchen updates, etc. We are not inspectors, but truly, the feel is of a solid home that has been well lived in with just not much attention to updating. At $599,000 on the canal, I’d say this one deserves some attention.
It feels like the new listings are coming onto the market in a fairly consistent way with 15 to 20 new listings, not “refreshed” but actually new, each week. Last week we saw 16 new listings. There were 4 pending sales and 5 closed listings. I keep waiting to see evidence of the spring market kicking in. That would be reflected in an increase in both pending and closed sales. So far, it remains a bit sluggish. On the plus side, we have one pending sale at close to $1,000,000. The remainder of the pending and closed sales continue to favor the more moderately priced homes. I am also continuing to see that the cumulative days on the market continue to embrace both extremes. It seems like houses that were over-priced, and that have gradually bitten the bullet to bring the price down to a point where price meets market demand, are selling with very long market times. The other extreme are the new listings that are able to look at current market conditions, price realistically, and are selling in a very short period of time.
Two weeks ago I posted information about Tryon Creek State Park and mentioned that there are two neighborhoods in Lake Oswego with trail access into the Park. One is First Addition and the other is Forest Highlands. In our archives you’ll find a neighborhood profile for 
There is, in fact, a beautiful condominium development in Forest Highlands, Red Fox Hills. The condominiums are all townhouse style: they are attached on the sides but do not have neighbors above or below. Amenities include expansive lawns and gardens as well as a pool and a recreation facility. Current pricing ranges from $226,000 for a 2 bedroom, bath and a half unit, to $399,000 for a 3 bedroom, 2 full bath unit. All units have garages.
And then there is that wonderful proximity to Tryon Creek Park. The entrance from Forest Highlands is at the turn about at the end of Boca Ratan Dr (right behind Red Fox Hills).
Ok, things are starting to get interesting- Lake Oswego saw 29 new properties hit the market last week (these are properties that are brand new on the market -or- have been off the market for a minimum of 30 days). All told, there were 45 that are either truly new, or have been “freshened” showing as new listings. (Dianne and I will have plenty to see on tour tomorrow!) We had 7 go pending, and 6 that closed, so sales remain steady for now at this rate.