Tag: Whitney Gregoire

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Market Activity Dec 22-28, 2014

You’d think the real estate market would have been slow and quiet last week due to the holidays, but nope, it was rather busy. Just 4 houses came onto the market, but 16 went pending (yep, people out looking at houses and not rushing home to carve the turkey), and 10 houses became closed sales.

I don’t recall a Christmas with this many pending sales. I too had an active buyer last week. With inventory a bit down right now, there are just not a lot of houses to choose from. We encountered 3 different houses they were interested in last week and all 3 had multiple offers. We were able to put a deal together on the one that was their top choice, but it really surprised me that the week of Christmas was that competitive. It makes me feel that perhaps our spring market will start early.

New Listings December 22-28, 2014

4765 Firwood Rd, Detached, 3 BR, 2 Baths, 1728SF, $325,000

14 Hotspur, Detached, 4 BR, 2.5 Baths, 2726SF, $599,900

17838 Marylcreek Dr, Detached, 4 BR, 3.5 Baths, 4317SF, $750,000

159 5th ST, Detached, 4 BR, 3 Baths, 2970SF, $895,000

Pending Sales December 22-28, 2014

43 Crestfield Ct, Condo, 2 BR, 1 Bath, 923SF, $101,000, 64 DOM

3930 Lake Grove Ave, Detached, 2 BR, 1 Bath, 952SF, $139,900, 36 DOM

40 Oswego Summit, Condo, 2 BR, 2 Baths, 1140SF, $151,900, 224 DOM

76 Galen Rd, Condo, 2 BR, 2 Baths, 989SF, $166,900, 46 DOM

9765 Firwood Rd, Detached, 3 BR, 2 Baths, 1728SF, $325,000, 3 DOM

5275 Oakridge Rd, Detached, 3 BR, 1 Bath, 1267SF, $349,900, 22 DOM

1075 Oak Terrace, Detached, 3 BR, 2 Baths, 1356SF, $349,900, 29 DOM

4631 Wildwood St, Detached, 3 BR, 2 Baths, 1650SF, $374,900, 120 DOM

5907 Fernbrook Circle, Detached, 5 BR, 2 Baths, 1892SF, $399,900, 175 DOM

4940 Centerwood St, Detached, 4 BR, 2.5 Baths, 2093SF, $425,000, 3 DOM

533 2nd St, Condo, 2 BR, 2 Baths, 1274SF, $465,000, 46 DOM

2751 Summit Dr, Detached, 3 BR, 2 Baths, 2418SF, $658,950, 145 DOM

27 Berwick Rd, Detached, 5 BR, 3 Baths, 2968SF, $715,000, 2 DOM

18177 Delenka Ln, Detached, 5 BR, 2.5+.5 Baths, 3802SF, $830,000, 131 DOM

1267 Cherry Ln, Detached, 4 BR, 2 Baths, 3311SF, $849,000, 259 DOM

179 Furnace St, Condo, 3 BR, 3.5 Baths, 4784SF, $1,698,000, 47 DOM

Closed Sales December 22-28, 2014

4610 Lower Dr, Condo, List $114,900, Closed $114,900, 1260SF, 46 DOM

129 Kingsgate Rd, Detached, List $300,000, Closed $300,000, 1604SF, 381 DOM

1437 Oak St, Detached, List $349,000, Closed $358,000, 1070SF, 4 DOM

1405 Cedar St, Detached, List $375,000, Closed $395,000, 2570SF, 3 DOM

1318 Laurel St, Detached, List $439,900, Closed $440,000, 1649SF, 2 DOM

1045 Bullock St, Detached, List $568,000, Closed $559,000, 2105SF, 11 DOM

5726 Charles Circle, Detached, List $718,000, Closed $692,500, 3173SF, 104 DOM

1525 Maple St, Detached, List $899,000, Closed $780,000, 2815SF, 153 DOM

3600 Southshore Blvd, Detached, List $849,900, Closed $785,000, 2117SF, 83 DOM

3140 Childs Rd, Detached, List $1,950,000, Closed $1,695,000, 298 DOM

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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Where did the lake go?

IMG_0472If you’ve seen the lake in the last few weeks you would have noticed that the water level is dramatically lowered from it’s normal depth. This is done every three years to allow home owners along the lake to repair sea walls and boat houses. It also allows the many members of lake easements to do the same types of repairs on the easement property.

Dropping the water level was done by allowing water out on November 11th via the spill way at the East end of the lake. On January 2nd the lake will be allowed to naturally refill with rain and the water that feeds the lake at the Tualatin River. It will take about two months to refill to its normal level. So it will be back to normal in plenty of time for warm weather recreation.

I’ve seen this done many, many times over the years. The explanation is always that it allows repair of sea walls, etc. I also am of the opinion that it improves the water quality.

In any case, it is a bit of an unusual sight with a reasonable explanation.

Dianne

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Market Activity Dec 1-7, 2014

As much as there is a myth that houses don’t sell during the holidays, last week’s market activity shows that it is, in fact, a myth. In Lake Oswego there were 12 new listings, 9 homes that became pending sales, and 16 homes that became closed sales.

Following is the breakdown for you according to RMLS:

New on the Market (Dec 1-7, 2014)

Address Type Price BR Bths SF
86 Kingsgate Rd H102 Condo $136,900 2 2 849
4000 Carman Dr #23 Condo $156,500 2 2 866
210 State St Condo $175,000 2 1 1284
4089 Jefferson Pkwy Condo $199,950 2 2.5 1361
852 5th St Detached $379,000 2 1 738
6 Gershwin Ct Detached $379,000 5 3 2416
4504 Wildwood St Detached $399,000 3 2 1655
17251 Greentree Ave Detached $414,950 4 2.5 2728
13721 Regency Ct Detached $509,500 3 2.5 2311
14372 Camden Ln Detached $519,900 3 2.5 2348
2286 Wembley Park Rd Detached $774,999 3 3 2000
3100 Westview Ct Detached $929,000 4 3.5 3750
18024 Eastridge Ln Detached $1,498,800 4 3.5 4526

Pending Sales (Dec 1-7, 2014)

Address Type Price BR Baths SF DOM
18 Oswego Summit Condo $54,900 1 1 764 176
15938 Quarry Rd 1A Condo $149,000 2 1 991 8
6360 McEwan Detached $319,888 3 1.5 1450 53
5344 Tualata Ct Detached $339,827 3 2 1283 45
16987 Alder Circle Detached $395,950 3 2 1713 4
1868 Kilkenny Dr Detached $535,000 3 2.5 2300 83
754 5th St Detached $755,000 3 3 2179 91
18224 Bella Terra Dr Detached $1,195,000 4 3.5 4050 146
1968 Cheryl Ct Detached $1,495,000 4 4.5+.5+.5 6153 11

Sold/Closed (Dec 1-7, 2014)

Address Type List Price Closed Price Sq Ft CDOM
4 Touchstone #76 Condo $124,000 $119,000 984 43
98 Oswego Summit Condo $146,000 $136,000 1140 152
4470 Chapman Way Detached $360,000 $347,500 2125 174
528 2nd St Attached $439,500 $428,000 1,703 16
377 Livingood Ln Detached $400,000 $429,000 2409 3
5978 Fernbrook Circle Detached $449,900 $442,000 1612 12
1765 Conifer Dr Detached $475,000 $448,000 2330 127
201 Ridgeway Rd Detached $589,000 $589,000 2327 86
17601 Woodhurst Pl Detached $675,000 $650,000 3179 80
3075 Tolkien Ln Detached $649,000 $660,000 2667 9
4090 Westbay Rd Detached $749,900 $719,000 2078 59
14144 Goodall Rd Detached $849,000 $765,000 3499 298
15444 Boones Way Attached $850,000 $820,000 3464 4
841 Northshore Rd Detached $949,850 $865,000 2388 140
925 Iron Mountain Blvd Detached $1,119,000 $1,020,000 3555 119
907 Terrace Dr Detached $1,795,000 $1,900,000 6919 572

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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Market Activity November 17th to the 23rd

Looks like things aren’t slowing down even in the late fall. We have twelve brand new listings here in Lake Oswego, fourteen pending properties, and seventeen sold homes! Looks like this is a very busy start to the holidays.

Following is the breakdown for you according to RMLS:

New on the Market (Nov 15-23, 2014)

Address Type Price Bedrooms Bathrooms Sqft 47 EAGLE CREST DR #40 CONDO 89,500 1 1 696 4 TOUCHSTONE #78 CONDO 164,900 3 2.5 1351 1803 BOCA RATAN DR ATTACHED 297,000 2 2.5 1739 5048 TREE ST DETACHED 310,000 3 1.5 1232 16470 BRYANT RD DETACHED 324,900 3 2 2024 19211 TERRY AVE DETACHED 370,000 4 2 1872
6435 FROST ST DETACHED 529,000 4 2.5 2627 17850 PILKINGTON RD DETACHED 585,000 3 2.5 3222 197 FURNACE ST S 3s CONDO 699,000 2 2.5 2091 18375 RIVER EDGE LN DETACHED 897,950 4 2.5 3404 1874 GLENMORRIE TER DETACHED 939,000 3 3 3858 19320 LORNA LN DETACHED 1,100,000 4 3.5 4192

Pending Sales (Nov 17-23, 2014)

Address Type Price Bedroom Bathrooms Sqft DOM 4619 LAKEVIEW BLVD D-3 CONDO 92,000 1 1 753 28 43 CRESTFIELD CT CONDO 107,500 2 1 923 27 98 OSWEGO SMT CONDO 129,900 2 2 1140 152 7140 SW CHILDS RD DETACHED 275,000 3 1 2032 149 16442 SW KIMBALL ST DETACHED 350,000 3 1 1200 45 17520 REDFERN AVE DETACHED 350,000 3 2 1776 11
16998 GREENTREE AVE DETACHED 393,500 4 2.5 2392 161
17225 CHAPIN WAY DETACHED 395,000 3 2 2257 119
1318 LAUREL ST DETACHED 439,900 3 2.5 1649 2
47 DA VINCI ST DETACHED 475,000 3 2.5 2445 112
17821 HILLSIDE WAY DETACHED 589,000 4 3.5 3442 44
571 2ND ST CONDO 589,500 2
2 1561 18 531 LAUREL ST DETACHED 649,900 4 3.5 2771 212 15444 BOONES WAY ATTACHED 850,000 3 2.5 3464 4

Sold/Closed (Nov 17-23, 2014)

Address Type List Price Close Price Sqft DOM 44 EAGLE CREST DR #15 CONDO 89,900 85,000 798 197 272 CERVANTES CONDO 139,900 127,000 1209 234 45 EAGLE CREST DR #409 CONDO 155,000 153,000 1214 4 18543 DON LEE WAY DETACHED 260,000 250,000 924 49 5326 W SUNSET DR DETACHED 259,900 259,900 754 3 16200 PACIFIC HWY #35 CONDO 299,000 275,000 1208 268
92 GREENRIDGE CT #92 ATTACHED 348,000 335,000 1980 14
475 8TH ST DETACHED 375,000 365,000 960 0
20 AQUINAS ST DETACHED 410,000 385,000 1814 33
1530 LARCH ST DETACHED 469,000 439,875 2384 22
886 9TH ST DETACHED 465,000 450,000 860 3
132 MIDDLECREST RD DETACHED 495,000 495,000 1617 0
4125 WOLF BERRY CT DETACHED 529,900 529,000 2824 1
13639 TWIN CREEK LN DETACHED 675,000 650,000 3202 87
2335 OSWEGO GLEN CT DETACHED 995,000 850,000 3932 167
14122 GOODALL RD DETACHED 969,000 930,000 4530 331
678 8 ST DETACHED 1,050,000 1,050,000 2900 1
16650 FIR LN DETACHED 1,279,000 1,200,000 3860 57

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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2015 Economic Forecast

royalty-free-finance-clipart-illustration-77965While 2014 may be winding down, 2015 is just around the corner. I tend to think of this time of year as a time to regroup. Business is slower. It gives me a chance to catch my breath, but also to gear up. January 1, I want to hit the ground running. With that in mind, I try to take advantage of First American Title’s annual economic forecast. This event happened this morning and I thought I share some of what I learned.

The expert who gives this presentation is John Mitchell, Chief Economist for M&H Economic Consultants. He does a great job of taking a dry subject that is filled with numbers and charts, and making it entertaining and engaging. I am going to share with you a few highlights.

For the most part the outlook is good. While economic growth has been slow, it has also been steady. For the past few years there have been fits and starts with the economy. Mr. Mitchell likened it to Bill Murray and Groundhog Day. We’ve seen it before and we will see it again. The economy is chugging along. It’s not explosive, but it is more steady than not.

Some positive news:
Consumers who have delayed major life decisions (getting married, having a child, buying a bigger house) are gaining confidence and starting to make those big moves. This is a stimulus for the housing market.

The US Economy is the envy of the world. Financial and personal security are threatened in many parts of the world (Asia and Europe continue to lag in economic recovery, then there are the world events in Russia and the Middle East). This has countries and individuals looking to put their assets where they feel they will be secure, and that place is the United States. Mr. Mitchell gave credit to this influx of foreign money for the unexpectedly low interest rates of 2014.

dire6n7rTThe housing market is rebounding with both existing family home and new construction selling at greater rates than they have in years.

Oregon was #6 in the Nation for job growth in 2014.

Nationally, mortgage delinquencies are the lowest they have been since 2000.

Some concerns:
We are entering a whole new world that has no historic precedent. The stimulus package is pretty much over. The Federal Reserve is no longer buying mortgage backed securities. The economy is going to have to hold up the anticipated growth on its own. Having said that, the Fed is prepared to jump back in and re-engage if needed. This shows how fragile this recovery is. There is a lot of uncertainty.

The world situation has a lot of areas of concern. Ebola and ISIS were not on our radar a year ago. A major event can derail our economy. These events are not just difficult to hear about because of their horror, they also have an impact on our economy through things like consumer confidence and political turmoil.

Slowly gathering strength
On the whole, our economy is slowly gathering strength. As the job market grows and people feel more financially stable, they start to make decisions to improve their lives. Buying a new home is a big part of that picture.

Mr. Mitchell did advise that interest rates are likely to go up in 2015, but it will be fact driven. If the economy is not rebounding, they will stay low. If the economic rebound gets stronger, they will go up. Odd to think that rising interest rates are triggered by good news, but they are.

My personal thought on all of this is that our government and the Fed need our housing market to continue to rebound. It is vital to our National economic health. I have confidence that the housing market will stay on track with slow and steady growth.

As always, thanks for reading The Blotter,
Dianne

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Market Activity Nov 10-16, 2014

Last week in Lake Oswego had some interesting data. There were 11 new listings, 22 pending sales, and just 8 closed sales. What I find interesting is the large number of pendings compared to the new listings. It’s obvious that those who are in the mood to buy want to move in before Christmas, and those who want to sell are not is no much of a hurry with the holidays at hand. Also of note is the short market time of the pending sales. This next week or two will be a good time to list a home for sale to take advantage of the pre-holiday rush.

Following is the breakdown for you according to RMLS:

New on the Market (Nov 10-16, 2014)

Address Type Price BR Bths SF
13188 Vermeer Dr Detached $450,000 3 2.5 1854
17190 Robb Pl Detached $450,000 4 3 1896
16201 Lake Forest Blvd Detached $464,900 3 2.5 2780
17380 Canyon Dr Detached $550,000 4 2.5 2526
1045 Bullock St Detached $568,000 3 2.5 2105
1744 Fern Pl Detached $599,000 4 2.5 2110
1607 Pine St Detached $599,960 4 2.5 2943
12511 Shelby Ct Detached $649,900 5 3.5 3675
1785 Palisades Terrace Dr Detached $799,000 5 4.5 5052
15444 Boones Way Attached $850,000 3 2.5 3464
12975 Elk Rock Rd Detached $1,000,000 5 3.5 3878

Pending Sales (Nov 10-16, 2014)

Address Type Price BR Baths SF DOM
4610 Lower Dr Condo $114,900 2 1.5 1260 46
4636 Lower Dr B-1 Condo $128,000 2 1.5 1170 9
86 Kingsgate Rd C203 Condo $139,500 2 2 924 4
3826 Botticelli St Condo $174,900 2 2 1055 56
113 Touchstone Terr Attached $293,000 3 2.5 2104 5
16875 Tracy Ave Detached $299,900 4 2 1825 114
706 5th St Detached $300,000 4 2 1824 16
4724 Firwood Rd Detached $329,000 3 1.5 1240 5
21 Summit Ridge Ct Attached $339,000 2 2.5 1654 16
1437 Oak St Detached $349,000 3 1 1070 4
6101 Harrington Ave Detached $359,000 3 2.5 1400 5
16266 Lake Forest Blvd Detached $369,900 3 2 1860 146
1878 Mapleleaf Rd Detached $395,000 3 1.5 1347 41
5978 Fernbrook Circle Detached $449,900 4 2.5 1612 12
205 Hidalgo St Detached $459,900 3 3.5 3032 131
37 Churchill Downs Detached $470,000 3 2.5 2372 4
12 Scarborough Dr Detached $525,000 4 2.5 2943 139
2671 Glen Eagles Rd Detached $850,000 3 3 4019 179
17547 Cherry Ct Detached $998,850 4 3.5 3737 337
19354 Lorna Ln Detached $1,049,988 5 3.5 4169 403
14084 Goodall Rd Detached $1,195,000 5 5.5 5399 73
3140 Childs Rd Detached $1,695,000 5 5.5 6449 298

Sold/Closed (Nov 10-16, 2014)

Address Type List Price Closed Price Sq Ft CDOM
94 Oswego Summit Condo $123,500 $117,500 1140 2
6928 Montauk Circle Condo $125,000 $125,000 960 21
5959 Dove Ct Detached $379,900 $380,000 1552 6
6158 Frost Ln Detached $464,900 $460,000 2,109 32
16942 Cherry Crest Dr Detached $475,000 $465,000 2363 28
4726 Cambridge Ct Attached $595,000 $581,000 2865 9
14220 Bridge Ct Detached $750,000 $689,000 3419 37
3411 Lake Grove Ave Detached $999,999 $1,000,000 4434 177

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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Lender Required Repairs

toolboxA common statement I have heard many times over the years is “the lender will require the repair”. I just don’t think that is the case much of the time. I thought it might be helpful to give you my experience about lenders and repairs.

Most lenders want a house to be livable. It can be old, it can be dirty or worn out, but it has to be livable. That means no dangerous situations like a deck without a railing that is 10 feet off the ground, or holes in sheet rock, or missing flooring. Lenders also want at least 3-5 years of life left in the roof and a clear pest and dry rot report. Both of these are obtained through professional inspections.

But many things that are assumed to be a problem simply are not. This is not a promise that you won’t run into lender issues on these items. It is simply my experience that they have not been a problem. I have sold houses with post and peer foundations, with LP siding, with nearly every window having a broken seal. Seriously, I sold this really modern house that had 30 windows, 26 of which were clouded over with broken seals. And it was sold with a VA loan, usually considered to be the hardest loan for a property to qualify for.

So know that houses do not need to be perfect to get financing. They need to be “livable”. “Livable” condition may not suit a picky buyer, but that is an entirely different standard.

A good plan, if you are thinking of selling, is to invite a Realtor to your home well in advance so that they can give you an opinion of items to address. Ask for both their opinion on lender required repairs and also their opinion on items to enhance the sale and to make the house show well. Linda, Whitney, and I would all be happy to help.
Dianne

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Market Activity Oct 20-26, 2014

The fall market is moving right along with 17 new listings, 12 pending sales, and 20 sold/closed homes last week.

Following is the breakdown for you according to RMLS:

New on Market (Oct 20-26, 2014)

Address Type Price BR Bths SF
4619 Lakeview Blvd D-3 Condo $92,000 1 1 753
43 Crestfield Ct Condo $107,500 2 1 923
3930 Lake Grove Ave 1A Condo $128,500 2 1 952
6 Cervantes Circle Condo $145,000 2 1.5 912
3433 Mcnary Pkwy #303 Condo $150,000 2 2.5 1208
4 Touchstone Dr #99 Condo $159,000 2 2 984
246 Ridgeway Rd 17B Condo $160,000 1 1 753
3986 Carman Dr Condo $209,900 2 2.5 1107
16735 Lake Forest Blvd Detached $299,900 3 2 1192
1743 Aspen Ct Detached $336,900 3 2 1341
528 2nd St Attached $439,500 2 2.5 1703
1710 Glenmorrie Terrace Detached $549,900 4 3 2865
5020 Hampton Ct Detached $598,000 3 2.5 2253
15180 Boones Way Detached $615,000 6 3.5 3905
5488 Southwood Dr Detached $799,000 4 2.5 3280
1168 Andrews Rd #1 Detached $1,295,000-$1,495,000 5 5.5+.5 4700
1168 Andrews Rd #2 Detached $1,295,000-$1,495,000 5 5.5+.5 4700

Pending Sales (Oct 20-26, 2014)

Address Type Price BR Baths SF DOM
44 Eagle Crest Dr #15 Condo $89,900 1 1 798 197
4 Touchstone #76 Condo $124,000 2 2 984 43
4 Touchstone #110 Condo $149,000 2 2 989 85
45 Eagle Crest Dr #409 Condo $155,000 2 2 1214 4
18543 Don Lee Way Detached $250,000 3 1 924 49
5326 W Sunset Dr Detached $259,900 1 1 754 3
4180 Collins Way Detached $280,000 2 1.5 1236 268
16200 Pacific Hwy #35 Condo $295,000 2 2 1208 268
4630 Wildwood St Detached $459,900 3 2 2067 6
886 9th St Detached $465,000 2 1 860 3
17601 Woodhurst Pl Detached $650,000 3 2.5 3179 80
16650 Fir Ln Detached $1,279,000 4 3.5 3860 57

Sold/Closed (Oct 20-26, 2014)

Address Type List Price Closed Price Sq Ft CDOM
44 Eagle Crest Dr #41 Condo $126,900 $111,000 908 421
5713 Kenny St Detached $349,000 $325,000 1384 31
16902 Chapin Way Detached $449,900 $440,000 1993 4
5222 Carman Dr Detached $474,900 $448,000 2,543 173
17688 Cardinal Ct Detached $459,000 $459,000 1970 14
960 9th ST Detached $475,000 $460,000 1509 63
16919 Lakeridge Dr Detached $525,000 $507,000 2710 80
13448 Auburn Ct Attached $525,000 $520,000 2535 4
4821 Dawn Ave Detached $599,000 $600,000 1854 5
2823 Glen Haven Rd Detached $749,900 $699,000 3015 8
5005 Dogwood Dr Detached $779,000 $753,000 4156 71
2175 Crest Dr Detached $799,900 $799,900 2950 20
14128 Goodall Rd Detached $869,000 $825,000 2960 118
814 Lake Shore Rd Detached $899,000.00 $885,000 1972 78
2943 Lakeview Blvd Detached $979,900 $950,000 3794 419
1045 Skyland Dr Detached $1,250,000 $1,255,000 3942 2
1103 Lake Shore Rd Detached $1,320,000 $1,320,000 3747 112
16525 Maple Circle Detached $1,450,000 $1,340,000 3443 287
1880 Crest Dr Detached $1,650,000 $1,375,000 2800 23
1400 Ridgecrest Dr Detached $1,649,500 $1,500,000 3859 15

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings.

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Louisiana Pacific Siding (LP Siding)

Hello everybody,
I have had my license for almost two months now, and I have learned quite a bit! Today what I am going to talk about is LP siding.
My first clients (as it turns out are my cousin and her husband) have just recently made an offer on a condo. In the weeks leading up to their decision we saw everything from houses, town houses, and other condos. When they first found a house I remember my mother saying:

”Oh… they have LP siding.”

Now let me explain why my mother was hesitant about LP siding, before I go into the decided verdict:
photo 8f755814-85b5-496b-bd2f-14fdfafa0481_zps821e41e0.jpg
Louisiana Pacific (LP) is a company that was founded in 1973 in Tennessee. This company pioneered the production of oriented strand board (OSB) panels. Which was an alternative to the more expensive plywood and solid wood building materials. OSB panels where sold to building manufacturers and homeowners all across the US.
To make OSB panels Louisiana Pacific would harvest small diameter, faster growing timber rather than old growth, and send the cheaper timber through processing to become wood chips. They would then mix the wood chips with glue and set it into a mold to fit the desired diameter for construction. This saved on time and cost, not to mention LP’s OSB panels where easy to install!
In 1985 OSB panels hit the Northwest markets and where the desired material used to construct siding. Many homes where made with LP’s OSB panels as it was inexpensive, quick, and uniform looking. Unfortunately for us up here in the North West, our climate was not factored into the longevity of the panels, made from woodchips and glue, and years later these OSB panels started to disintegrate. One of the major concerns for homeowners and buyers was that the panels would not only sag into clumps of mush along the exterior of their home, but that the mush would rot and host mold and fungus; later requiring a lot more effort to remove then to install the panels themselves initially.
photo 5c758787-6a62-44ca-8bbe-0f53bd2032a1_zpsa4cbef99.jpg
From 1990 to 2000, LP’s OSB panels where installed into nearly every new construction: as contracting companies where usually outsourced and received their orders to build from out of state, so many companies would use LP siding in an effort to conserve funding. This flourishing action of business can be used to date homes with LP siding within the ranges of the late 1980s all the way through the late 1990s.
photo 74998250-642e-4293-94fe-65a94bd6d76f_zps7e38cf8a.jpg
So let’s revisit that moment when my mother and I are standing in the driveway of the first home that we showed to my cousin and her husband: The point where we look over the house and notice the little nit-picky things to ensure that the buyer is well-informed about what it is they are likely to purchase. The home was built in 1998 and very clearly had LP siding. LP siding is easy to spot due to its pattern: there is a token ‘wooden knot’ looking print that is used over, and over again on LP planks to make it look like actual lumber. When we brought this up with my cousin we explained the draw-backs of having LP around the exterior of the house. However, this particular house was very well managed. This home had received a good paint job, which ensured that water did not get past the paint to affect the planks. Keep in mind: paint does age just as the rest of the house would, and in the future would require a thorough, waterproof, exterior paint job or complete exterior replacement. One of our suggestions we made for my cousin was to provide a low offer so that they could get the house at a fair price and spend some money on replacing the LP siding.
All in all, LP is not the greatest external material here in the North West. It does well in climates that are dryer and provide low threat for mold or fungus. Though we do not have nearly as much of a threat in mold as other states do (Texas being the leading state for issues involving mold). The North West still deals with fungus, and above all rain, rain, rain, and more rain!

Thank you for reading along with me. I look forward to sharing more with you in the future!

Loving life in Lake Oswego,
Whitney Gregoire

Bibliography:
http://www.homeadvisor.com/article.show.Top-10-Worst-States-for-Mold.14164.html
http://hometownexteriordesigns.com/lp_siding.php
http://en.wikipedia.org/wiki/Louisiana-Pacific

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Market Activity October 6 – Oct 12, 2014

Hey all, It’s time to start thinking about Halloween! Looks like things are starting to settle a bit from the busy real estate market we had over the spring and summer. This time around We had 16 new listings, 14 pending sales, and 11 closed/sold properties. Let’s have a look!

Following is the breakdown according to RMLS:

New on Market (Oct 6-Oct 12, 2014)

Address Type Price Bedrooms Bathrooms Sqft
86 Kingsgate RD G203 Condo 144,900 2 2 849
5058 Foothills DR Condo 239,900 2 2 1252
4524 Lower DR A3 Condo 315,000 3 2.5 1650
6360 McEwan RD Detached 337,000 3 1.5 1450
13197 Thoma RD Detached 399,900 3 1.5 1640
6550 Childs RD Detached 400,000 2 2 1346
12836 Sierra Vista DR Detached 485,000 4 2.5 2166
5830 Sunbrook DR Detached 575,000 4 2.5 2810
17821 Hillside Way Detached 589,000 4 3.5 3442
3075 Tolkien LN Detached 649,000 3 2.5 2667
1287 Bickner ST Detached 699,500 4 3.5 2665
17171 Lowenberg TER Detached 747,000 4 2.1 3002
4123 Chad DR Detached 854,950 4 3.1 3833
15195 Lily Bay CT Detached 898,000 4 2.5 4099
1920 Glenmorrie DR Detached 1,199,900 3 3.5 4370
1539 Lake Front RD Detached 1,399,900 4 3.5 3385

Pending Sales (Oct 6 -Oct 12, 2014)

Address Type Price Bedroom Bathrooms Sqft DOM
4610 Lower DR Condo 114,900 2 1.5 1260 14
6928 Montauk CIR Condo 125,000 2 1 960 21
900 Cornell ST Detached 240,000 3 1.5 1300 4
16266 Lake Rorest BLVD Detached 369,900 3 2 1860 111
5959 Dove CT Detached 379,900 2 2 1552 6
4208 Harvey WAY Detached 399,900 4 2 2132 76
1530 Larch ST Detached 450,000 3 3 2384 22
804 2ND ST Attached 459,900 4 3 2224 50
6158 Frost LN Detached 464,900 3 2.5 2109 32
2584 Park RD Detached 549,999 4 2 2302 110
18936 Bryant RD Detached 710,000 4 4 4100 189
1267 Maple ST Detached 899,000 3 2.5 3388 7
925 Iron Mountain BLVD Detached 1,119,000 4 3.5 3555 119
3072 Lakeview BLVD Detached 1,150,000 5 5.5 4030 159

SOLD (Oct 6 -Oct 12, 2014)

Address Type List Price Close Price Sqft DOM
18325 SW 65TH AVE Detached 315,000 278,750 1071 67
466 5TH ST #14 Condo 310,000 310,000 1092 27
19180 Indian Creek AVE Detached 365,000 342,000 2392 12
16494 Inverurie RD Detached 349,000 355,000 1200 7
257 C AVE Detached 449,000 372,000 1600 105
14594 Wilmot WAY Detached 420,000 410,000 1710 0
811 Sunny Hill DR Detached 499,999 463,150 2964 53
502 Northshore RD Detached 849,000 846,000 2834 7
17509 Ridgeview LN Detached 1,119,000 1,110,00 3938 3
3130 Douglas CIR Detached 1,448,000 1,448,000 3970 75
199 Furnace ST Condo 1,950,000 1,800,000 5772 63

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.