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Lake Oswego Real Estate New Oregon Laws

Recently, Governor Kate Brown signed several bills into law that may affect you and real estate you may own.

The summaries below are provided for information only. If you have questions, a real estate attorney should be consulted.http://bettyjung.com

House Bill 4079

Directs Land Conservation and Development Commission to establish pilot program in which local governments may site and develop affordable housing. Appropriates moneys to Department of Land Conservation and Development to establish pilot program.

House Bill 4143

Prohibits rent increases during first year of month-to-month tenancies. Lengthens required notice periods for rent increases of certain periodic tenancies. Limits fee charged to tenants for second or subsequent noncompliance with written nonsmoking rules and policies to $250. Modifies provisions requiring landlord to provide emergency exits from bedrooms.

Senate Bill 1529

Prohibits enforcement of residential irrigation requirements by homeowners association while finding or declaration of existing or likely drought conditions is in effect.

Senate Bill 1533

Permits certain cities and counties to adopt land use regulations or functional plan provisions,
or impose conditions for approval of permits, that effectively establish sales or rental price, or require designation for sale or rent as affordable housing, for up to 20 percent of multifamily structure in exchange for one or more developer incentives.

Senate Bill 1563

Requires Department of Environmental Quality to award grants for purpose of developing and administering loan programs to provide low-interest loans for purposes related to on-site septic system repairs, replacements, upgrades and evaluations.

Senate Bill 1573

Requires city whose laws require petition proposing annexation of territory to be submitted to electors to annex territory without vote upon receipt of petition for annexation submitted by all owners of land in territory provided territory is included within urban growth boundary of city or Metro and is, or will be, subject to acknowledged comprehensive plan of city, at least one parcel in territory is contiguous to city limits and proposal conforms to all other requirements of city’s ordinances.

Search For Real Estate

I have a new search site available to find Portland metro and all outlying properties for sale.  You can view RMLS™ information here. My website is also available.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. 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 RMLS Market Action Report March 2016

Our latest RMLS™ Market Action Report was issued recently for March 2016.  Here are the latest stats:

The Portland metro area saw some seasonal increases this March, but some numbers are cooler so far for the year to date.https://lakeoswegorealestateblog.wordpress.com

CLOSED SALES:

Closed sales (2,565) were up 4.4% compared to March 2015 (2,457) and 41.5% compared to February 2016 (1,813). The last March that closings were more numerous was in 2007, when 2,775 closings were posted for the month.

PENDING SALES:

Pending sales, at 3,076, rose 10.4% over the 2,786 offers accepted last month in February 2016—but were 9.1% under the 3,384 offers accepted last year in March 2015.

NEW LISTINGS:

Similarly, the 3,409 new listings rose 17.7% above the 2,896 new listings offered last month in February 2016 but were 5.2% cooler than in March 2015 when 3,596 new listings were offered.

DAYS ON MARKET:https://lakeoswegorealestateblog.wordpress.com

Total market time in the Portland metro area decreased to 51 days this March, with inventory decreasing to 1.3 months. There are currently a total of 3,318 active residential listings in the Portland metro area.

AVERAGE AND MEDIAN SALE PRICES:

Comparing the average price of homes in the twelve months ending March 31st of this year ($361,100) with the average price of homes sold in the twelve months ending March 2015 ($334,400) shows an increase of 8.0%. In the same comparison, the median has increased 9.0% from $289,000 to $315,000.

Search For Real Estate

I have a new search site available to find Portland metro and all outlying properties for sale.  You can view RMLS™ information here. My website is also available.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Summer Concert Series

Our beautiful “summer” type weather this Spring reminds us that the “hot” days of summer are still coming.  We have had an early summer of sorts this year, breaking all kind of records for temperatures in the Pacific NW.

The air is fresh, the sun feels great and the sound of music in our Lake Oswego parks is coming soon.

Sounds of Summer – Foothills Park Wednesdays 7-9 p.m.

  • July 6 – Johnny Limbo & the Lugnuts
  • July 13 – Andy Stokes Band
  • July 20 – Wil Kinky Band
  • July 27 – Petty Fever

Moonlight & Music – Millennium Plaza Park – Sundays 6-7:30 p.m.https://lakeoswegorealestateblog.wordpress.com

  • July 10 – Michael Allen Harrison with Julianne Johnson
  • July 17 -The Senate
  • July 24 – Tracey Fordice and the 8 Balls
  • July 31 – Quadraphonnes
  • August 7 – Todd Haaby
  • August 14 – Hot Club Sandwich
  • August 21 – The Junebugs
  • August 28 – Norman Sylvester

Sounds of Summer Westlake Park – Wednesdays 6:30-8:30 p.m.

  • August 3 – Hit Machine
  • August 10 – Catch a Wave
  • August 17 – Dancehall Days
  • August 24 – Stone in Love (also the Public Safety Fair)

Free admission – and will be held rain or shine.  Don’t forget your low sand chairs.  Food and beverages are available.

Search For Real Estate

You can download this phone app to search for the home of your dreams either on your cell phone or tablet – http://app.summarealty.com/SMAFZ

My website is also available and you can search for Lake Oswego real estate or any homes for sale in the metro PDX area or surrounding communities.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

Since 1975, I have worked in Lake Oswego as a Real Estate Broker, and have lived in Lake Oswego since 1988. As a result, I know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Farmers’ Market and Entertainment Schedule

Just around the corner is the opening of our Lake Oswego Farmers’ Market, which has been voted recently as the “best” by market goers.

Lake Oswego Farmers’ Market

Opening day is May 14 and runs through October 8, 2016 from 8:30 a.m. to 1:30 p.m. at Millennium Plaza Park in downtown lake Oswego.

Our Farmers’ Market has 80 vendors each week with a wide variety of fresh fruits, vegetables, meat, cheeses, artisan baked goods, jellies, seafood and nursery items.

Farmers’ Market Entertainment Schedule

  • May 14 – Southern Nights
  • May 21 – Boka Marimba
  • May 28 – Big Foot Mojo
  • June 4 – Painted Pretty
  • June 11 – Kinvara (Irish)
  • June 18 – The Bylines
  • June 25 – Oregon String Beings
  • July 2 – Dick Saunders & Sucker Creek Jazz Band
  • July 9 – Haleakala (Hawaiian)
  • July 16 – Brent Rogers & KJ Miller
  • July 23 – Astral Highway
  • July 30 – Margie Gibson with Dick Saunders & Friends
  • August 6 – Brothers of the Baladi (Middle Eastern)
  • August 13 – Sally Harmon & Frank Gruner
  • August 20 – Woodlander
  • August 27 – Sky in the Road
  • September 3 – Shira with Dick Saunders & Friends
  • September 10 – Larry Wilder and the Stumptown Stars
  • September 17 – Fain’ by Nine
  • September 24 – Flamenco Ensemble
  • October 1 – Lake Oswego School District Presents
  • October 8 – Gospel Hooligans

Our weather should be perfect.  Watch out for the road construction and follow the detour signs.

Search For Real Estate

You can use this phone app to search for the home of your dreams either on your cell phone or tablet – http://app.summarealty.com/SMAFZ

My website is also available and you can search for Lake Oswego real estate or any homes for sale in the metro PDX area or surrounding communities.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. 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 Price Increases By Area YTD

You have been hearing how high prices are escalating and which areas are the “hottest” real estate markets in Portland.  Yet, do you know how much each area really has increased in price within the last 12 months?

It has been reported that the close-in areas are “hot”.  They have been, but there are some other Portland metro real estate markets that are not only hot, but on fire.  Can you guess which ones??

Price Increases By Area YTD

Here is a list from our lasted RMLS™ Market Action Report (March 2016) showing how much the average selling prices have changed by area:

Average Sale Price Percent Change within the last 12 months (April 1, 2015-March 31, 2016 vs. April 1, 2014 to March 31, 2015):

  • North Portland increased by 15.4%
  • Oregon City/Canby increased by 12.2%
  • Tigard/Wilsonville increased by 11%
  • Gresham/Troutdale increased by 9.7%
  • Hillsboro/Forest Grove increased by 9.6%
  • Milwaukie/Clackamas increased by 9%
  • SE Portland increased by 9%
  • NE Portland increased by 8.7%
  • West Portland increased by 8.7%
  • Beaverton/Aloha increased by 8.6%
  • Yamhill County increased by 8%
  • Lake Oswego/West Linn increased by 5.7%
  • Columbia County increased by 5.7%
  • NW Washington County increased by 5.6%
  • Hillsboro/Forest Grove increased by 5.1%

We are still definitely in a sellers’ real estate market.  Our housing inventory dropped from 1.8 months last month to 1.3 months in March 2016 (our latest stats).Inventory_in_Months

Bidding wars are continuing and many buyers are being priced not only out of the Portland/Lake Oswego real estate market, but out of their desired locations to purchase.

However, interest rates are at an all time low and unemployment numbers are dropping.  If you have read any of the media reports you know Portland is considered the hottest real estate market across the U.S. and has had the highest acceleration of prices.

We have consistently ranked as the #1 moving location. People want and are moving to Portland. With such low inventory, there is little to no housing for them to move to.

Overall, the average sale price % change in the previous 12 months has been an increase of 8% ($361,100 vs. $334,400)

Search For Real Estate

You can use this phone app to search for the home of your dreams either on your cell phone or tablet – http://app.summarealty.com/SMAFZ

My website is also available and you can search for Lake Oswego real estate or any homes for sale in the metro PDX area or surrounding communities.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. 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

We are still experiencing a sellers’ market in Lake Oswego.  Prices are escalating at a rapid pace and many buyers are finding themselves already priced out of the market or unable to purchase in their desired locations.

The median price in Lake Oswego this past week was $975,000 and has been increasing steadily with the average days on the market at 137 days.

https://lakeoswegorealestateblog.wordpress.com https://lakeoswegorealestateblog.wordpress.com

Source: Ticor Title and Altos Research

Search For Real Estate

You can use this phone app to search for the home of your dreams either on your cell phone or tablet – http://app.summarealty.com/SMAFZ

My Lake Oswego REALTOR® Betty Jung, Summa Real Estate Group website is also available and you can search for Lake Oswego real estate or any homes for sale in the metro PDX area or surrounding communities.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. 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 Using Your Tax Refund To Buy A Home

Are you getting a tax refund this year?  Will you be using the funds towards purchasing a Lake Oswego home?

49.2 Percent of Surveyed Americans Will Save Their Tax Refund

https:/lakeoswegorealestateblog.wordpress.comApril may start off with some lighthearted fools jokes, but the month turns very serious right around the 15th. As Americans work feverishly to submit their taxes by midnight on April 15, or the extended deadline this year of Monday, April 18, due to the Emancipation Day holiday in Washington, D.C. (Maine and Mass. taxpayers actually have until April 19, due to Patriots’ Day). Regardless of if taxpayers filed in January or wait to file in mid-April, the IRS anticipates that more than 150 million tax returns will be filed this year, and 70 percent of the nation’s workforce will happily await a tax refund from Uncle Sam. Last year’s average tax refund amount totaled $2,797 dollars.

If you’re expecting a tax refund this year, what do you plan to do with it? According to the National Retail Federation’s (NRF) annual Tax Returns Survey, 49.2 percent (the highest percentage in the survey’s history) of taxpayers plan to save their tax refund rather than spend it right away. Here are some of the most common ways people choose to use their tax refund:

Risky Spending

According to the NRF survey, 8.3 percent of taxpayers are planning for big splurges with their tax refund. Many people still like to treat their refund as a gift or free money from the government, instead of remembering that these dollars belonged to them all along. So in celebration, some taxpayers spend their entire refund on lavish vacations, expensive merchandise and/or tons of individual retail purchases. While it may feel good at the time to reward yourself — with money that was always yours — you might be putting yourself at higher risk for experiencing buyer’s remorse. After all, once it’s gone … it’s gone!

Business as Usual

On the flip side, 22.4 percent reported that they plan to simply deposit their refund into the bank and continue on with business as usual, budgeting for groceries, gas, family expenditures, car payments, household bills, etc. Think about it this way: when you return damaged or unwanted merchandise to a store and receive a cash refund, you probably don’t think of it as free cash to liberally spend on anything. You likely deposit it back into your bank, or your wallet, and use it to pay for the next necessity. Likewise, if a tax refund is treated as just what it is — a refund of your annual earnings held by the government — it will make sense for some taxpayers to just add the money to their everyday funds and continue on as normal. While these taxpayers may not experience the thrill of instant-gratification spending, they are preventing any regrets due to impulse buying.

Smart Financing

NRF CEO Matthew Shay said in a press release, “Americans this year see refund season as a time to improve their financial health by using their refunds to get ahead on savings goals, pay down debt and plan for purchases in the future. Money saved is spending potential down the road.”

In fact, 34.9 percent of the NRF study’s respondents indicated that they intend to use their refund to pay down debt. Some other popular financial-saving decisions that many taxpayers use their refund for, include:

  • Having an Emergency Fund — Making it twelve months without incurring any unexpected expenses can prove a hard feat for anyone. So using your tax refund to either start, replenish or grow your emergency fund is a positively safe and smart decision.
  • Increasing Retirement Savings — Putting money into a retirement savings account is always a good decision, as the more you save, the more financially secure you’ll be in the future.
  • Opening an Extra Savings Account — An extra savings account can become a money hero for the expected and unexpected special events in life, such as weddings, anniversary trips, senior care for aging family, etc. Don’t be afraid to think ahead and start saving money for those unique times.
  • Growing a College Fund — If you’ve got children, you might consider adding to or starting college funds. College may still be a long way off for junior, but growing a college fund now could mean the difference between him pursuing his dreams with your help, or taking up permanent residency on your living room sofa.
  • Building a Young Adult’s Savings Account — For older dependents that are earning an income, consider helping them open a Roth IRA account that will help them begin investing in their own financial future. Eligible dependents can contribute up to $5,500 dollars, or the amount of their annual income, whichever is lower.

Smart Spending

If you like the idea of saving, but you also feel like your tax refund is burning a hole in your pocket, you might find enjoy some smart spending. Smart spending includes decisions that have a high probability of leading to a more positive financial future, like:

  • Investing in a Home — I bet it’s no surprise that PrimeLending’s favorite smart refund spending idea is to use those extra dollars as a down payment on a new home. With home loan options that fit a wide range of budgets, some requiring as little as 3% down, and today’s low interest rates, it’s a great time to purchase. Check out our Why 2016 Is The Year To Quit Renting and Buy blog for more on the benefits of homeownership.
  • Taking Care of Repairs — If there are costly repairs to your home, vehicle or other lifestyle necessities, consider using your tax refund to take care of everything. You won’t regret it, especially when all of your repair worries are behind you.
  • Giving to Others — It always feels good to help others in need. Donate some of your tax refund to your favorite local charity. You’ll be helping your community, plus setting yourself up with a tax benefit for your 2016 tax return.
  • Shopping the Sales Rack — Treat yourself a little bit, but just don’t overdo it! Remember that this is your hard-earned money. So celebrate yourself with some light pampering, and allocate the rest to smart saving and smart spending.

Happy tax month! If you’re receiving a tax refund, I hope your influx of extra cash aids you in your long-term financial goals or to purchase that dream home.

Source:  Prime Lending

Search For Real Estate

You can use this phone app to search for the home of your dreams either on your cell phone or tablet – http://app.summarealty.com/SMAFZ

My Lake Oswego REALTOR® Betty Jung, Summa Real Estate Group website is also available and you can search for Lake Oswego real estate or any homes for sale in the metro PDX area or surrounding communities.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. 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 Preparing For A Hot Summer

Although we had the wettest Winter with record rainfall this past year, we are now experiencing warmer than usual, and record-setting temperatures.  We have been seeing 20 degrees or higher than we normally see just this past week and we have a long way to go before we hit the heat and high Summer temperatures.

Many of us gardeners have been jumping up and down for joy waiting for a dry spell so that we could get our hands dirty and work in our yards. And for some of us, we are always dreaming of a maintenance-free yard.

During the past several Summers, when we hit high temperatures, I never watered my plants, as I try to conserve.  My feeling has been that with such wet Winters, my plants would sustain themselves.  Although I have lost a few plants, I long to plant more natives in my yard to support wildlife habitat, conserve water and reduce the need for pesticides and fertilizers.

Native Plants For The Willamette Valley

Songbirds, bumble bees, butterflies and other beneficial bugs attracted to native plants are not just fun to see.  They fight garden pests, pollinate food crops and improve the soil.  In addition, planting native plants thrive without added water or those fertilizers and pesticides so many of use don’t like to use, or don’t use.

Where To Find Native Plants?Native_Plants

Do you want to know which plants are native to our region?  There is an excellent handbook than can be downloaded at oregonmetro.gov/native plants for residents of the Portland metro area or you call 503-234-3000 to obtain a copy. There are many other suppliers of this handbook that can be found at the above website where you can also obtain a copy.

Another great place to obtain information is from the Clackamas County Master Gardeners if you have questions, which is where I obtained my Native Plants handbook while attending a recent home improvement show.

If you are planning an extended trip, or if you are thinking of selling your home this Summer, it is also important that plants don’t die or dry out. Those could start a fire if planted too close to your home, plus you always want to assure your home has that “curb appeal” while it is for sale.

Search For Real Estate

You can use this phone app to search for the home of your dreams either on your cell phone or tablet – http://app.summarealty.com/SMAFZ

My Lake Oswego REALTOR® Betty Jung, Summa Real Estate Group website is also available and you can search for Lake Oswego real estate or any homes for sale in the metro PDX area or surrounding communities.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. 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 Sellers Doing The Happy Dance

https://lakeoswegorealestateblog.wordpress.com/LakeOswegoRealEstateSellersDoingTheHappyDance

Photo Source: Pinterest

For at least the past two years, sellers in our Portland/Lake Oswego real estate market have been doing the happy dance.

While housing prices were depressed and on a downhill slide during the past recession, the real estate market has done a total reversal.

Sellers are in the unique position of having multiple offers and above list price offers submitted on their houses. While this is great for sellers, it has been increasingly difficult for buyers to obtain their American dream of owning their own home.  And to make it even more difficult for buyers, recently, there was a news article that stated Portland had the fastest growing prices in the U.S., up 11.8% within the last year.

What Buyers And Sellers Are Doing 

I have heard several cases where there were up to 60 offers that had been written on houses and prices went $100,00 above asking price.  And, most of those buyers did not successfully get their offers accepted.

So if you are a buyer, just how can you get your offer accepted?

Getting Your Offer Accepted

What are buyers doing to get their offers accepted?

Here is a short list of what some buyers are doing:

  • paying cash
  • writing offers with escalation clauses increasing the sales price
  • waiving and removing the inspection contingency
  • removing the financing contingency
  • waiving the appraisal contingency
  • making offers sight unseen
  • not asking for concessions or closing costs
  • quick closing dates
  • large down payments
  • free rent backs for the sellers
  • moving expenses paid for seller by the buyers
  • seller closing costs paid for seller
  • making your highest and best offer
  • “love letters” submitted to seller
  • underwriter loan approvals
  • non refundable earnest money deposits
  • calls from the lender to the seller regarding buyers pre-approval

Sellers are:

  • reviewing all multiple offers at the same time at a pre-determined date/time

Even if you do all the above plus some other additional things to benefit the seller, there is still no assurance you will become the winning bidder of that home you love.

However, remember these old sayings “try, try and try again” and “never give up”.  Interest rates are still low and eventually, the home of your dreams will be yours.

Search For Real Estate

You can use this phone app to search for the home of your dreams either on your cell phone or tablet – http://app.summarealty.com/SMAFZ

My Lake Oswego REALTOR® Betty Jung, Summa Real Estate Group website is also available and you can search for Lake Oswego real estate or any homes for sale in the metro PDX area or surrounding communities.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Gallery Without Walls

For those of us living in Lake Oswego, one of our many favorite things about our town is the Gallery Without Walls.

Gallery Without Walls Voting Time!!

It is Spring in Lake Oswego and that means it’s time to vote for People’s Choice. Each year, five on-loan sculptures in our Gallery Without Walls rotating exhibit are carefully chosen as nominees by a volunteer selection committee.

If you live in Lake Oswego, you and your whole family are eligible to vote for your favorite. If you work in Lake Oswego, you are also eligible to vote. I have already voted, have you??

The winning sculpture will be announced in April 2016 after voting has closed and the ballots are tallied.

The sculpture is purchased for Lake Oswego using funds made available through the the Transient Room Tax.

Vote online today through our website.

Artwork (top to bottom, left to right): Breaktime by Anthony Teixeira, Sponsored by Jeff & Teresa Metke, Metke Remodeling & Luxury Homes; Journey Home by Angelina Marino-Heidel & Joel Heidel, Sponsored by Dyke Vandenburgh Jewelers; renovation by Sharon Warman Agnor, Sponsored by Beth Schulberg with Cruise & Travel Specialists; Spiral Petite by Micajah Bienvenu, Sponsored by Eric J Weberg, Financial Advisor, Edward Jones; Clackamas by Mike Suri, Sponsored by Johnstone Financial Advisors.

Disclosure: All Photos From The City of Lake Oswego.

Search For Real Estate

You can use this phone app to search for the home of your dreams either on your cell phone or tablet – http://app.summarealty.com/SMAFZ

My Lake Oswego REALTOR® Betty Jung, Summa Real Estate Group website is also available and you can search for Lake Oswego real estate or any homes for sale in the metro PDX area or surrounding communities.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

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.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. 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 2008-2016. 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
CRS, GRI, ABR, SRES, CNHSS

Summa Real Estate Group
4949 Meadows Rd. #100
Lake Oswego, Oregon 97035

503-804-9685 Cell

or email:betty@bettyjung.com

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