If you have been following my blog, you know that I consider This Week Stats to be the most up-to-the minute information available.

Lake Oswego Real Estate Stats

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Lake Oswego Real Estate This Week Stats

This Week’s Stats did not change dramatically from the stats I posted 9/11/2017.  The median price in Lake Oswego remained the same as it was $899,000 and 54% of listed properties had a price reduction, again the same as 9/11.

What has changed slightly is the advantage favoring sellers has decreased slightly from 32.4 to 32.1. Further, 3/4 of all properties in Lake Oswego real estate market are still above a jumbo loan of over $600,000.  Only 1/4 of all Lake Oswego homes are priced under $600,000 and those usually have multiple offers.

It is typical as we head towards the Fall and Winter months to see some slowing, but does pick up again as we head closer to the holiday season.  Many buyers want to be in their new homes prior to the holidays.  It is still a seller’s market with low housing inventory. However, there is a shift happening.

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Lake Oswego Real Estate Market

What all these stats show is it is still important, no matter how hot the real estate market is, it is important to price your home correctly at the start.  Buyers looking at these stats may assume that sellers are more motivated than they were during the Summer months.

Some sellers are accepting contingency offers and, just recently, I saw several listings where sellers are back to paying buyer closing costs to help sell their homes.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

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Lake Oswego Real Estate How Often Do You Need To Clean Gutters In Lake Oswego?

In literally a blink of an eye, our Summer here in Lake Oswego was over and the rains, heavy rains and thunderstorms at that, have already started.  It is definitely Fall in Lake Oswego!https://lakeoswegorealestateblog.wordpress.com/

Like many Lake Oswego real estate agents, I have certain vendors I use for not only my own home maintenance, but also as referrals to my buyers and sellers.

Today, my roof/gutter contractor sent me a reminder to schedule my gutter/roof cleaning. In the past I was always confused as to how often or when to get that maintenance done on my own home.

How Often Do You Need To Clean Gutters In Lake Oswego?

WHY DO I NEED TO CLEAN MY GUTTERS?

It helps to understand why you have gutters. The gutters collect rain from your roof and prevent the rain from falling off the edge of your roof next to your foundation. 95% of moisture and water intrusion in crawl spaces and basements can be traced to clogged gutters.

The water from the gutters passes through a pre-manufactured hole in your gutter called an outlet. These outlets can be of varied sizes, which directly impacts how much water can flow through the outlet at any one time. The outlet goes into the downspout.

The function of the downspout is to funnel the water that the gutter has collected and released through the outlet to a drain system (or water barrel or location) that carries the water away from your foundation. It may lead to a storm drain system or the downspout may empty on the ground several feet away from your foundation.

The critical part in all this is that the water stays away from your foundation, so that the crawl space or basement stay dry. So you clean your gutters to prevent mold, mildew, dry rot, flooding, and property damage that results from having water under your house. It is a health issue (mold and mildew), a structural issue (dry rot and foundation) and a financial issue (flood restoration, mold remediation and rebuilding). These are all expensive, and all can be prevented by investing in the routine maintenance of cleaning your gutters a couple times a year.

MY GUTTERS SEEM CLEAN, WHY ARE THEY OVERFLOWING?

Several things can cause gutters to overflow, even if they look clean. Your downspout may be clogged; your in-ground drain system might be clogged; your roof configuration may cause the water to shoot past the gutters in heavy rains; your outlets might be too small. Sometimes, not often, it just rains so hard that your perfectly functional gutter system can’t handle the volume of water.

HOW MANY TIMES PER YEAR SHOULD MY GUTTERS BE CLEANED?

It depends.

No Trees:

If you don’t have any trees around your house or within a few hundred feet of your house, you should plan to clean your gutters about every other year, just to make sure that roof gravel or other debris is not building up in your gutters. The roof gravel will eventually clog your drain system.

Deciduous Trees–twice (maybe three times) a year:

If you have deciduous trees around or near your house (that means the leaves fall off in the fall and re-grow in the spring), you should clean your gutters twice a year.

First in the Spring/Summer after all the leaves and blossoms are done blooming. This will get the debris that comes from the growing leaves and blossoms out of your gutters, leaving them clear for when the first Fall rains come, but the leaves haven’t fallen off the trees yet.

If you don’t do the Spring/Summer cleaning, all that debris will be up there, and cause your downspouts to clog and require service before the leaves fall off, leaving you frustrated that you have to get your gutters cleaned twice in quick succession.

Second cleaning should be in the Fall/Winter to get most of the fallen leaves out of the gutters, and you will be good until the Spring/Summer Cleaning. When you do the Spring/Summer Cleaning, you can usually wait for most of the leaves to fall off in the Fall before you clean your gutters. You don’t have to wait for the last leaf to fall in order to get the most value. It’s not the last 10% or 15% of the leaves that usually cause the problem, it’s the first 85%!

If trees surround your house, you may need to clean three times a year: Spring, Fall, and Winter.

Coniferous Trees–three times a year:

If you have coniferous (evergreen) trees around your house, you will likely need to have your gutters cleaned three times a year. If you have Douglas Fir trees around your house, experience teaches that the best times to clean are November, February and May. That will keep the needles and berries sufficiently out of your gutter system to protect your home.

If you have several Douglas Firs, you may want to ask us about the most effective downspout screens to install. The idea is to keep the needles and berries out of your downspouts and drain system. Conifers basically shed needles all year long, with peak needle sheds coming when the weather changes. The needles must be kept away from your drain system so that it can continue to move the water away from your foundation.

Home Maintenance Schedule

If you need a roof maintenance and/or gutter cleaning contractor, I have a great one and would be happy to share his name/number with you.  I hope this helps you as much as it has helped me.  Today I scheduled my roof/gutter cleaning, have you?

Source:  Action Roofing

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate Westlake Stats First 6 Months 2016 vs. 2017

It has been a while since I have broken down stats for specific neighborhoods.  Of course, since I live and work in Westlake my first post for this time period is for the Westlake neighborhood.

The stats below represent single family homes only in the Westlake neigborhood.  Westlake has some children going to two different elementary schools – Oak Creek and Lake Grove.

Below is a comparison of the first six months of 2016 vs. 2017.

Westlake 2016 vs. 2017 – January to June

Westlake Stats 2016

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Westlake Stats 2017

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SUMMARY

Comparing the first six months of 2016 vs. 2017, there were more houses sold in 2016 (69) than during the first six months of this year (66).  Our inventory has been extremely low and the inventory of homes for sale was only up slightly in 2017 – 1.6 months vs. 1.5 months in 2016.

Days on the market were also similar.  It took 64 days in the first 6 months of 2017 vs. 63 days in 2016.

However, it was a “hotter” market in 2016 as the final sales prices vs. orginal list price were 100% in the first six months of 2016; whereas, in 2017, buyers negotiated their final sales price to 96.11% of the original list price during this first six months.

Price per sq. ft. also has dropped in the first six months of 2017.  In 2016, price per sq. ft. was $270 while in 2017 thus far the price per sq. ft. is at $267.

Again, as I always say, stats vary street by street, and neighborhood by neighborhood.  Just because homes are selling quickly in one neighborhood within our Lake Oswego real estate market, does not always mean they are selling quickly in another neighborhood within Lake Oswego.

Stats For Your Neighborhood

If you want to know the specific stats your neighborhood, please give me a call at 503-804-9685.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

 

Lake Oswego Real Estate August 2017 RMLS™ Market Update

I knew as soon as I posted the July report, the August report would follow shortly thereafter. The latest report was just issued.

AUGUST 2017 RMLS™ Market Update

August Residential Highlights

August brought mixed activity to the Portland metro area, but closed sales saw some modest gains. At 3,034, closings rose 1.1% compared to last year in August 2016 (3,001) and 8.6% compared to last month in July 2017 (2,793).

Pending Sales

Pending sales, at 3,072 for the month, edged 1.1% over July 2017 when 3,040 offers were accepted but fell 7.6% short of the 3,325 offers accepted last year in August 2016.

New Listings

New listings, at 4,048, ended 3.7% under both July 2017 when 4,202 new listings were offered, and August 2016 when 4,203 new listings were offered for the month.

Inventory of Houses For Sale and Days On The Markethttps://lakeoswegorealestateblog.wordpress.com/

Inventory decreased to 2.0 months in August. During the same period total market time increased by one day, ending at 34 days. There were 5,940 active residential listings in the Portland metro area in August.

Year To Date Summary

Activity has been cooler so far in 2017 compared to 2016. New listings (29,852) are down 2.6%, closed sales (20,990) are down 2.7%, and pending sales (22,296) are down 7.6%. You can see overall, that the real estate market in Portland is not as “hot” as it was last year.

Average and Median Sale Prices

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through August, the average sale price rose 9.3% from $392,600 to $429,000. In the same comparison, the median sale price rose 10.7% from $343,200 to $379,900.

Lake Oswego Real Estate August Stats

Inventory of houses for sale in Lake Oswego is now close to 3 months.  It is still a seller’s market in Lake Oswego, but if it gets to 5-6 months of inventory, we will see a shift.  Lake Oswego prices increased 8.6% compared to Portland prices that rose 9.3% within the last 12 months.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate This Week Stats 9/11/2017

It has been a little over a month since I have posted This Week stats.  As indicated in other posts, these Altos Research stats are probably the most current.  Our RMLS™ is always reporting on the previous month and the Case-Schiller Report has stats for the previous 3 months.

This Week Stats as of September 11, 2017

This week the Lake Oswego real estate market saw an increase in the median list price.  The last report I posted in August showed the median list price at $849,000 vs. this week the median list price is $899,000.  Granted this is list price and not sales price. In August 52% of all the listings had a price reduction and this week it shows that 54% of all the listings this week had a reduced price. The selling price is the most important rather than the list or asking price.

Days on the market has also increased from 101 days on the market in August increasing to 108 days on the market in this week’s report. It also shows that a seller’s advantage is decreasing.

Seller’s Market But Inventory Increasing

Listing inventory is also increasing in the Lake Oswego real estate market.  In July, Lake Oswego housing inventory was at 2.9 months.  August saw 3 months of inventory.  While not a significant increase, inventory (number of houses for sale) is increasing.  It is still a seller’s market but if we continue to edge towards 5-6 months of Lake Oswego housing inventory, it will become what is called a  “normal or average” real estate market.

As a refresher, an average market is 5-6 months favoring both buyers and sellers (or under 7 months of inventory), below 5 months is considered a seller’s market (obviously benefitting the sellers)  and from 7-10+ is considered a buyer’s market (again benefitting buyers).

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Shift In Lake Oswego Real Estate

The Fall seasion is fast approaching.  Showings of houses has increased this past week and there is usually a rush to get into a new home before the holidays.  While it was a slow Summer and we saw some significant changes in our local real estate market, hopefully, this Fall will show increases in the number of houses that have sold.

Our RMLS™ August stats should be out within the next day or so.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

 

 

Lake Oswego Real Estate And Hurricanes

There are some questions I have been asking myself since the hurricanes hit.  It seems others are starting to ask the same questions.

While the US has been devastated from hurricanes Harvey and Irma and the suffering is unparalleled, the aftermath will bring about many questions.  I have seen reports that Houston and other parts of Texas along with Florida have no building restrictions.  After Hurricane Harvey, I read that Houston allows building anywhere and whatever you want to build, even in flood plains. In addition, I saw a report about Florida building rules where those have been largely ignored, if any even exist, in favor of the big $$$.

Oregon has strict building laws.  We also have our coastline absent of any housing as Governor McCall put into place a law that said the coast is for everyone to enjoy.  I know that our local Lake Oswego building ordinances are also strict and many blame our Urban Growth Boundary for our high cost of houses and a limited supply of affordable housing in Portland’s metro areas.

While you cannot predict what Mother Nature will do, there should be more thoughtful consideration being given as to where or what you can build in hurricane/tornado areas of the U.S. for the safety of everyone.

America is Tested Again and Again

All through our economic commentaries we always are fearful of making predictions. No matter how much information we have, there are always unknown factors which can change the future to a significant degree.

There is no better example of this than what Texas and Louisiana just faced with Hurricane Harvey. An entire region of our country devastated with an amazing amount of support pouring in throughout the country. There is no doubt about the fact that this natural disaster will have a major effect upon our economy — as well as Irma and whichever storms follow. From the devastation of local economies to gas prices, there will be a multitude of factors we will be facing.

In the long-term there will be an economic revival as we rebuild lives, houses and infrastructure. We have rebuilt successfully before and we will rebuild again. America has always demonstrated our resiliency.

However, there are major questions which will remain far beyond this event. For example, we all know that houses are expensive to build and “excessive” regulations are part of that equation. On the other hand, as the insurance companies continue to point out, the lack of adequate building and zoning standards in some areas of the country have increased the cost of rebuilding significantly.

In other words, we have some very hard questions to address, questions which are very difficult to answer. And coming out with the right answers will help us pass this test in the future long after we rebuild this time around.

In the wake of Hurricane Harvey, the Insurance Information Institute (I.I.I.) released a primer on the difference between water damage covered under a homeowners policy and damage covered by flood insurance. The Institute reported 40% of homeowners think that standard homeowners insurance covers flood damage caused by heavy rain, which it does not. “Hurricane Harvey has, once again, shown that tropical storm systems are often major rain events, rather than wind-related.

This brings strong motivation for everyone to consider flood insurance, even if their mortgage lender does not require it,” said Loretta Worters, vice president of Media Relations with the I.I.I. According to the I.I.I.’s May 2016 Consumer Insurance Survey, only 12% of homeowners have flood insurance nationally, the lowest number since 2010 and down from 14% in 2015. Standard homeowners and renters insurance will cover wind damage from Hurricanes. Flood coverage, however, is excluded and is available in the form of a separate policy from the federal government’s National Flood Insurance Program (NFIP) and a few private insurers. The NFIP provides coverage for up to $250,000 for the structure of the home and $100,000 for personal possessions.

Replacement cost coverage is available for the structure of a home but only actual cash value coverage is available for possessions. Excess flood insurance provides protection above the NFIP limits. It is available from private insurers for higher valued properties and for those living in a community that does not participate in the NFIP.

Source: Builder

More Americans Are Staying Put

The overall mobility of the U.S. population is at its lowest level and has fallen by nearly half since its most recent peak in 1985. Americans who live in rural areas are not moving. The rate of people who moved across a county line in rural America was just 4.1 percent, down from 7.7 percent in the late 1970s, according to the analysis. The mobility rate in rural areas has fallen faster than metro areas. “We’re locking people out from the most productive cities,” said Peter Ganong, an assistant professor of public policy at the University of Chicago. “This is a force that widens the urban-rural divide.”

It can stymie economic growth, adds David Schleicher, a professor at Yale Law School. The immobility of rural residents is preventing them from getting higher paying jobs and could even be choking off the labor supply for employers in areas where jobs are plentiful. Economists have indicated that the decline in rural mobility is mostly due to the escalating cost of housing. Small-town home prices have modestly recovered from the housing market crisis, while restrictive land-use regulations in metro areas have driven up prices.

Source: The Wall Street Journal

Multi-Generational Living

More generations are sharing a roof as a growing number of adult children move back in with their parents and aging parents move in with their grown children. Nearly one in five Americans are now living in a multi-generational household (defined as a home with two or more adult generations or grandparents living with grandchildren). The number of multi-generational households in the U.S. has bloomed to the highest level since 1950. About 60.6 million adults, or 19 percent of the population, were residing with their extended family in 2014, according to data from the Pew Research Center on multifamily households. The number has increased from 57 million in 2012.

Economists say the main reasons for the uptick are rising home prices, higher child care expenses, increasing college debt, longer life expectancies, and the growth in diverse communities.

Multi-generational living is more prevalent among certain ethnicities and cultures. For example, 28 percent of Asians live in a multi-generational household; that number is 25 percent for both Hispanic and African American families. Whites have the fewest multi-generational households at 15 percent. Builders have been responding to the trend, constructing homes with more square footage and that contain a separate wing for extended family members.

Source: realtor.com®

Information submitted by: Matt Jolivette, Associate Mortgage Brokers

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

As I sit in front of my computer, I see I have not posted in over a month here on my blog.  Where the heck did the time go?  In addition, I see I did not post the latest RMLS™ Market Update July 2017 (with June stats) and a new update for August (with July stats) will be out in the next day or so. So before I get too far behind, here is the latest RMLS™ Market Update.

Lake Oswego Real Estate RMLS™ Market Update July l2017

At the beginning of May, I personally noticed a slowdown in our local real estate market here in Lake Oswego.  I started posting my beliefs in my “This Week Stats’ category here on my blog.

While I had no stats to support my hunches, I knew there was a shift happening.  Our RMLS™ stats, which only reflect the previous month and are not current on a daily basis, was not providing stats to support what I was seeing.  In addition, the Case-Schiller Report also reports only on stats from the previous 3 months, and again was not indicating a slowdown.  The Altos Research stats are weekly, and there again, I was not seeing anything to support my feelings that a slowdown was happening.

It became difficult for me to inform my sellers and buyers that days on the market were increasing, there was an increase in inventory, and some areas had seen price decreases etc. because there were no stats supporting that as yet.

However, in July, the national media reported that June had seen a decrease (that would account for a slowdown in May).  Again in July, the national media again reported there was another decrease in July.  And, finally, Altos Research, which reports on neighborhoods, zip codes, cities weekly, also started to report what I was seeing. Locally nothing was being reported  about a slowdown yet.

In the many Facebook real estate groups I belong to, agents there didn’t say they saw any noticeable differences either until July while I had seen it at the beginning of May already.

This July 2017 RMLS™ Market report (which is based on June stats) also now is reporting the slowdown.  Is it seasonal?  Is it the start of a continuing trend?  What I know is that there is not as much of a frenzy as there had been.  While multiple offers still exist in certain areas and at certain price points, the multiple offers over list price as slowing down. How did I see a slowdown happening so early?

I call local real estate agents the “boots on the ground”. I was out there writing offers that were no longer in multiple offer situations, there was more inventory to show, immediate offers as soon as my listings came on the market didn’t appear, and buyer activity/showings on my listings had slowed.

Not All Bad News

While you might think this is bad news, in many ways it is not.  Buyers were exiting the market because of the frenzy and hopefully this will bring buyers back into the Lake Oswego Real Estate Market and into the Portland Metro Real Estate Market.  Interest rates are still low and sellers are experiencing an increase in equity as prices are well above the pre-recession era.  It is still a seller’s market and it is still a good time to sell or buy.

July Residential Highlights

Portland real estate activity cooled a bit this July.

Closed Sales

Closed sales, at 2,793, cooled 12.4% from June when 3,187 closings were recorded, although these sales pushed 0.6% past the 2,776 closings recorded last year in July 2016.

Pending Sales

Pending sales, at 3,040, fell 7.9% short of the 3,302 offers accepted last year in July 2016 and 6.6% short of the 3,254 offers accepted last month in June 2017.

New Listingshttps://lakeoswegorealestateblog.wordpress.com/

Similarly, new listings (4,202) showed a 3.9% decrease compared to July 2016 (4,372) and a 11.3% decrease compared to June 2017 (4,739).

Days On The Market

Total market time decreased by five days in July, ending at 33 days. In the same period, inventory crawled up to 2.1 months.

Year to Date Summary

Activity has been cooler so far in 2017 compared to 2016. New listings (25,723) are down 2.4%, closed sales (17,807) are down 3.3%, and pending sales (19,390) are down 7.6%.

Average and Median Sale Prices

Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through July, the average sale price rose 9.3% from $391,600 to $428,000. In the same comparison, the median sale price rose 11.2% from $340,000 to $378,000.

This Week Stats

I will continue to report on the most up-to-date information I have in my This Week Stats category here on my blog for Lake Oswego. However, if you want specific information as to your street or neighborhood, please let me know as I can also provide that for you anywhere in the Portland metro area.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

 

Lake Oswego Real Estate This Week Stats

I have been reporting since the beginning of May that I had noticed a slow down and a decrease in prices in Lake Oswego, although our RMLS™ had not reported that as of yet.  Our RMLS™ stats are one month behind, and it is still not reporting a slow-down in pricing.  However, the July report will be out in the next few days and I will post that information here.

What the  RMLS™ has been reporting, however, is a slow-down in lockboxes being opened – i.e. a decrease in showings each week.  My Facebook Real Estate Group real estate brokers are also still noting the slow-down. Once the RMLS™ stats are published, I will look at the stats closer to see if I can notice a trend or not.

Lake Oswego This Week Stats

If you check back in my “This Week Stats” blog posts you will see I had noted that 34%, then 37%, then 41% of properties each week had reduced their asking prices.

This week you can see that has now jumped to 52%.  In other words, 52% of the listings currently on the market for sale reduced their list prices.

You can also see that the median list price has dropped below $850,000 and now stands at $849,000. Three quarters of all listings are still in the jumbo loan category – above $600,000 (asking prices above $750,000 now for sale).  Only 1/4 of all listings in Lake Oswego are under $550,000.  Affordability still high in Lake Oswego.

In addition, This Week’s Stats show that the seller’s advantage has been dropping.  In other words, it is slowly falling to either a “normal” market range or edging ever so slowly towards a buyers’ market.  I will keep watching this.

Lake Oswego This Week Stats As Of Monday, August 7, 2017

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

 

Lake Oswego And Our Trees

https://lakeoswegorealestateblog.wordpress.com/When I first started selling real estate in Lake Oswego in 1978, and buyers were looking for newer homes with trees, one of the only newer areas that had trees was Mt. Park.

Trees have always been a draw to buyers especially those moving into our area from out of state. Of course there are many benefits to having trees in your yard not to mention the million shades of green there are.

However, over the years, and still to this day, Lake Oswego has become known as a town where it is almost impossible to have a tree removed from your property.  Not unlike other areas, there are rules as to which tree, or what kind of situation will allow you to remove one.

In addition to the City having rules as to which tree(s) can be removed, your HOA could be like mine, where you need to get approval from your HOA as well before any trees are taken down.

Tree Protection and Removal Workshop

While I think I know what the rules are to remove trees, I need a refresher.  I have several trees now that I would like to remove but not certain if I would be allowed to.

If you are like me, you might like to know there is a workshop scheduled to explore the City’s tree code requirements for tree protection and tree removal permits.

This workshop will take place at Lake Oswego City Hall, 380 A Avenue and will include:

  • An indoor presentation to explain the various types of tree removal permits.
  • An outdoor demonstration with examples of measuring tree diameter, tree protection fencing, techniques for protecting trees during construction and more.

Please email planning@lakeoswego.city or call 503-635-0290 for free registration.  Visit http://www.ci.oswego.or.us/planning to learn more about the Urban & Community Forestry Workshop series.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Seniors – Special Program

Do you come in regular contact with Seniors and people with disabilities?

If so, check out our Gatekeeper Program.This program will train you to help at-risk people stay safe and living in their own homes.

You will learn the following:

• The warning signs of someone in need of help
• How to gather information and find ways to get help to those in need

This special program will take place at the Lake Oswego Adult Community Center, 505 G Avenue, on Tuesday, August 1, from 10-11:30 a.m. Please call for registration, 503-635-3758 by July 31.

Searching for Real Estate

My phone app http://app.summarealty.com/SMAFZ, has recently been updated.  If you are looking to purchase, this is a great way to search.  Or, if you want instant notifications from RMLS™, please let me know and I can arrange for you to receive alerts for listings as soon as they come on the market for sale.

Or go to my website http://bettyjung.com for additional information.

Thinking of Selling Your Lake Oswego Home?

Interest rates are still low and there is still a huge pool of buyer demand. Buyers are ready and willing to purchase your home. Call me at 503-804-9685 if you are thinking of making a move.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

Having worked in Lake Oswego as a Real Estate Broker since 1978 and lived in Lake Oswego since 1988, I know all the neighborhoods. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2017. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Contact Betty Jung

Betty Jung, Broker
REALTOR®
CRS, GRI, ABR, SRES, CNHSS

Summa Pacific Cascade
4949 Meadows Rd. #100
Lake Oswego, Oregon 97035

Licensed in the State of Oregon

503-804-9685 Cell

or email:betty@bettyjung.com

"Selling Real Estate Since 1978. There Is No Substitute For Experience!"

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