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LARRC – is a 3 hour course to renew my real estate license.  Every two years, I am required to take 30 hours of continuous education for license renewal.  There are many classes I can take, but this particular course LARRC (Law and Rule Required Course) is mandatory and was updated 1/1/2018.bettyjung.com

Having completed that class today (I only need 5 more hours by the end of October!), there was some information in that class I wanted to share about radon.

RADON CONCENTRATION

When I sell a home, representing the buyers, I always recommend that a radon test performed by a licensed, certified and bonded EPA technician as part of the buyers’ due diligence when they are purchasing a home..

RADON LEVELS AND MITIGATION

You most likely have seen the radon maps, I have posted them on my blog and have written other posts about radon as well. What you may also know is that if you have two houses side by side, each house could/probably will have different radon levels.

A reading up to 4 is what I have seen the most.  1.3 is considered an average reading.  However, the EPA says no level is safe. Here is what the EPA recommends to reduce radon levels:

  • If the radon reading is 4 or below, there is no recommendation for action.
  • A reading of between 4-20, should be mitigated within a few years.
  • Two to 200, should have action taken within a few months.
  • Levels over 200, should have the radon mitigated within a few weeks.

SCREENING 

There are two methods for screening.  There is short term screening (testing) that does not measure long term levels of exposure.

A passive testing device is placed in the lowest level of the house and tests for 48 hours.  If there is no evidence of radon in that low level (usually in the back of a closet in the basement), there will not be any radon anywhere else in the house. A passive device to test runs approximately $20-30.  Sometimes, homeowners will do their own testing.

The other testing will require a trained technician.  A machine that runs continuously for 48 hours will determine any unusual swings in the reading.  This testing is what we as agents recommend during a transaction, and is more accurate.  The cost of this, which includes a report, can run between $75-200.

I remember in the  mid-1990s I was asked specifically about radon by a buyer relocating to Oregon from Texas.  At that time, the word radon was not even in our vocabulary.  Over the years after, it has become more and more important to buyers as radon can cause cancer. I highly recommend if you are purchasing a home, be it a resale or even new construction, you have the home tested by a licensed EPA technician.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but are still low and there is still 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright law.

 

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Last week I attended a training session for my real estate license renewal.  While I attend training classes all year long, I took this class specifically to add to the 30 hours of continuing education needed for my real estate renewal by the end of October 2018.  Typically, I always leave completing these hours to the last minute, but I have been trying to keep up-to-date on a regular basis.

Next week I will also be at our State’s real estate convention where I will be in more classes.   Even after all this, when I get back home, I will still be short hours and will need to hit the on-line education classes so I have them all.  My brain is already on over-load.bettyjung.com

The CIDA Report

On my blog, I have written many articles about purchasing a condo/townhouse/row house/attached dwelling.  It is far more complicated to purchase a condo, etc. than it is to purchase a home.  All the same inspections and precautions taken when purchasing a house apply when you are purchasing a condo as well, but there is even more documentation and due diligence required for a condo.

Did you know when you buy a condo, you are actually buying into a non-profit organization as well?  There are 11 documents you should request when making an offer to purchase a condo.  During my career, there has always been documentation I requested in offers made by my clients, but now that list of paperwork has expanded considerably.

What CIDA stands for: common interest development analytics.

California, Hawaii and Washington, by law, requires sellers to provide this documentation.  In Oregon, unless you ask for them in your offer, a seller is not required to provide them.  On average, that packet of information, if not provided by a seller and if requested from an HOA instead, could cost you approximately $300 to obtain.

HOA’s During The Recession

During the recession, there were many condo projects that had considerable foreclosures and many projects were in litigation.  Maintenance was deferred and many HOAs did not have a reserve large enough to handle all the repairs needed.  During that time, I came across several condo projects that had anywhere from over $65,000 up to over $150,000 in assessments against owners to take care of those repairs during that time.  In addition, there were changes made to FHA requirements for HOAs to qualify for FHA financing.

Further, condo projects have a life. Did you know that the oldest condo project in the US is in San Juan Puerto Rico?

When You Should Be Concerned About Age When Buying A Condo

When a project is around 10 years old, that is the tipping point for repairs.  It is an Oregon Law that a condo project have a 30-year funding protection program for repairs.

There is a condo project in Seattle that is 40 years old.  It has been boarded up because there were so many repairs, little to no reserves, and homeowners are now without their homes.  I understand it has recently been torn down and it is now a park.

If you want to purchase a condo/townhouse/rowhouse/attached dwelling, let me help.  I have sold many condos and have the knowledge and experience to know how to help you with your purchase. It is imperative your investment is protected.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright law.

Our latest report was published this afternoon for August 2018. Here are our most recent stats.

The Portland metro area saw more mixed activity in August, but new listings were up compared with August 2017. At 4,214 new listings outpaced August 2017 (4,048) by 4.1%, despite cooling 2.3% from the 4,312 new listings offered last month in July 2018.

Closed sales (2,967) increased 8.4% from last month in July 2018 (2,736) but ended 2.2% under the 3,034 closings recorded last year in August 2017.

Pending sales, at 2,760, were 10.2% cooler than August 2017 (3,072) and 10.1% cooler than July 2018 (3,071).

Inventory decreased slightly to 2.3 months in August. Total market time increased to 40 days in the same period.bettyjung.com

There were 6,929 active residential listings on the market in the Portland metro region this August.

Year to Date Summary
Activity so far in 2018 is mixed compared to 2017. New listings (30,721) are up 2.9%. Closed sales (20,572) are down 2.0% and pending sales (21,836) are down 2.1%.

Average and Median Sale Prices
Comparing 2018 to 2017 through August of each year, the average sale price rose 5.9% from $429,000 to $454,500. In the same comparison, the median sale price rose 5.6% from $379,900 to $401,000.

Summary: I have been noticing a lot more houses coming on the market, especially in Lake Oswego lately.  It is still a sellers’ real estate market and will be until we see inventory levels reach above 5 months worth of houses for sale.  Also, prices will continue to increase due to the still low inventory of houses to sell.  Rates are still historically low.  However, we are still seeing the slow-down of buyers.

I have written posts here on my blog, at my Facebook blog and in my Jung’s Journal, my real estate newsletter, as to the possible reasons for the slow-down.  The number of sales has slowed and the real estate market is not as frantic as it had been.

Buyers aren’t always in a multiple offer situation now, although they still exist, and there are now more homes for sale.  Still an excellent time for sellers to sell as well as their equity continues to increase.

Lake Oswego still has 3.2 months of inventory, the same as last month.  I have seen lots of listings come on the market in Lake Oswego this September, so when the October report is published with the September stats, I won’t be surprised if the inventory in Lake Oswego has increased.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright law.

There are still a lot of activities in Lake Oswego during our dog days of summer.  Here’s a list:

Check out fun upcoming activities:

Day 69 – Wednesday, August 28
LO Parks & Rec presents Hikes & Rambles every Tuesday and Thursday – just show up and enjoy! Today’s hike is Shellrock/Middle Lakes – 6 miles with lakes, Subalpine fir, old growth hemlock, and huckleberries. Today’s ramble is Tamanawas Falls – 3.8 miles where you will see the beautiful 100 ft. falls, along Cold Spring Creek and shaded large Douglas-fir, cedar, and a variety of trees. For more information, including cost and appropriate gear, go to www.LOhikes.com.

Day 70 – Wednesday, August 29
Join us from 7:15-9:15pm for Tryon Bat Chats! Sign up for a free night hike led by trained naturalists to experience the bats of Tryon Creek. Registration required. https://tryonfriends.org/calendar/

Day 71 – Thursday, August 30
Check out the new Parks & Recreation Activity location, Christ Church Parish (CCP)! Stop by our Open House from 3-6pm and meet the instructors, look at the spaces and places, plus enjoy a snack and beverage. Located at 1060 Chandler Rd.

Day 72 – Friday, August 31
Check out a bit of LO’s past at River Run Park. River Run, which borders the Tualatin River, is the site of the historic mouth of Oswego Canal and the historic Oswego Lake Canal headgate (installed in 1905-1906). It is located at the end of River Run Road. http://bit.ly/BryantWoods

Day 73 – Saturday, September 1
Oh, how I love the LO Farmers’ Market! Explore the spectacular array of fresh fruits, vegetables, meat, cheeses, baked goods, hot foods, artisan products, and beautiful nursery items. The Market boasts an average of 80 vendors each week. It also features weekly entertainment and kids’ activities. Millennium Plaza Park, 8:30am-1:30pm, through October 13.

Day 74 – Sunday, September 2
Join us from 11am-3pm at Tryon Creek Natural Area for Stumpfest – a history and ecology learning event that is focused on teaching the public about the biological and historical significance of the ancient stumps of Tryon Creek. There will be a self-guided walk, learning stations, and carnival games that teach about forest management.

Day 75 – Monday, September 3
Celebrate Labor Day with a picnic at one of Lake Oswego’s amazing parks! Have you been to Freepons, Greentree, Pilkington, Roehr, George Rogers or Waluga Parks? These are just a few options! Pick your park at www.ci.oswego.or.us/parksrec/parksites

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

In an effort to see if in fact there has been a slowdown, as many of us have been reporting, I checked stats for sold listings over the last six months for Lake Oswego zip codes 97034 and 97035.

Sold Stats Last Six Months – Lake Oswego

# of Sold Listings In Lake Oswego

According to RMLS™ stats, sales in Lake Oswego dropped last month by over 50% from the previous month and have been consistently decreasing since February 2018.bettyjung.com

Sold Prices In Lake Oswego

The final sold prices of homes, however, is a different matter.  Lake Oswego prices continue to increase even while inventory increases as well.  Typically, when inventory increases, prices drop, however that has not been the case according to the stats for the last 6 months.  In fact, prices have been somewhat erratic.

Inventory in Lake Oswego

Lake Oswego currently has 3.2 months of inventory.  Some have argued that 3 months’ inventory is approaching a normal real estate market while the National Association of REALTORS® says 5-6 months is considered a normal market, favoring both buyers and sellers.

Sold Stats For Lake Oswego (Stats are for single family homes only in 97034 and 97035 all stats from RMLS™)

  • July 2018 = 75 houses sold = average sold price $941,400
  • June 2018 = 153 houses sold = average sold price $894,311
  • May 2018 = 261 houses sold = average sold price $922,314
  • April 2018  = 322 houses sold = average sold price $900,108
  • March 2018 = 385 houses sold = average sold price $879,346
  • February 2018 = 438 houses sold = average sold price $884,779

You can see from the above that for the last 6 months, the number of sales in fact have decreased significantly in the Lake Oswego real estate market. If we continue to have an increase in inventory, we will most likely be close to a buyers’ real estate market here in Lake Oswego soon.  We are not there yet, however. Typically there is a slow-down going into Fall, but we are still in the peak Summer buying season.

Also, different dates trigger a rush to buy such as before the school year – which we are currently in but as you can see up to July 31, there was no “rush” as the total number of sales dropped by 50%. The next big rush will be the holidays. Although, we have yet to see if that will play out this year.

Reasons for the Slow Down

I have read lots of posts/news reports, etc. as to the reasons for the slow down such as increased interest rates, buyer fatigue, lack of inventory, boomers not downsizing, millennials still living with parents, fewer people moving to our area, etc.  While I am not an economist nor do I have that crystal ball, I can’t pinpoint any one specific reason and would most likely say “all of the above”.

If you are interested in what is happening in your neck of the woods, please let me know and I can run the stats for your neighborhood as well.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

 

Our latest stats were published by RMLS™ today.  Inventory has increased and the market is slowing

What we are seeing are contingency offers being accepted by sellers, some areas seeing longer days on the market, not as many multiple offers (although this is still occurring in some areas and in certain price ranges), not selling at full price and sellers much more willing to do repairs. The total number of pending and sold properties are down and have slowed.

When the market was “hotter” and sellers had received multiple offers, sellers were in a better position to stand firm in their desire to do absolutely no repairs.  My last 2 sales had sellers adamant they were not going to do any repairs, causing my buyers to decide whether it was worth it to them to move forward.  In one case it was not, and in another case it was.

The number of listings increased this month which means buyers have more inventory to choose from and although we are still in a sellers’ market, we are edging towards a more normal real estate market. As long as we still have low inventory, prices will continue to increase.  However, as we move into Fall, or as inventory increases, prices will start getting reduced.  A good buyers market seems to be heading our way.

There is a lot of talk about a crash or a bubble bursting.  I don’t think this will happen.  We have been in an extremely increasing market now for 10 years, and I just think prices are leveling off, which is a good thing for buyers.  Prices are still increasing just not at as fast a rate.  Sellers are still seeing an increase in their equity and many sellers have now recovered, and then some, from the recession.

July 2018 RMLS™ Market Update

July Residential Highlights

Pending Sales

Pending sales saw gains this July in the Portland metro area. At 3,071, pending sales outpaced July 2017 (3,040) by 1.0% and June 2018 (3,059) by 0.4%.

New Listingsrmlsweb.com/bettyjung.com

New listings, at 4,312, outpaced July 2017 (4,202) by 2.6%, but cooled 4.5% when compared with June 2018, when 4,515 new listings were  offered.

Closed Sales

Closed sales (2,736) cooled 2.0% from July 2017 (2,793) and 7.1% from June 2018 (2,946).

Days On The Market

Total market time decreased by one day in July, ending at 36 days.

Inventory of Houses For Sale

During the same period, inventory increased slightly to 2.4 months. July saw 6,549 active residential listings on the market. The closest we had to 2.4 months of inventory was in September 2017 when we had 2.6 months.

Year To Date Summary

Activity so far in 2018 is mixed compared to 2017. New listings (26,455) are up 2.8%. Pending sales (19,221) are down 0.9% and closed sales (17,445) are down 2.0%.

Average and Median Sale Prices

Comparing 2018 to 2017 through July of each year, the average sale price rose 6.0% from $428,000 to
$453,600. In the same comparison, the median sale price rose 5.8% from $378,000 to $400,000.

Lake Oswego Stats

This month Lake Oswego/West Linn’s inventory also increased.  Last month Lake Oswego/West Linn had 2.3 months of available houses for sale, and this month it edged up to 3.2 months of houses for sale.  In addition, sales have dropped in area 147 as well (Lake Oswego/West Linn).  Last month there were 178 sales in all of Lake Oswego/West Linn and this month that volume dropped to 153 sales.

Again, there isn’t a lot to be alarmed about as we are heading into Fall and typically the real estate market slows down, although it seems it started slowing down somewhat earlier this year.  As always, it is easier to look backward than forwards.  Will this continue or not?

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

While there are many approaches that can be taken to price your home, these three methods seem to be what have been the norm in our Portland metro and Lake Oswego real estate markets lately. However, there are several different pricing strategies that should be employed during different types of real estate markets depending upon who the market favors. What pricing strategy is used during a “hot” sellers’ market may not fare well, or be the best, during a normal or buyers’ market.copyright bettyjung.com

Pricing Your Home Above The Market – An “Anything Goes” Price

An anything goes price can be used successfully during a hot sellers’ real estate market, when there is a low inventory of houses for sale. However, a recent news article stated that “The anything-goes list-price strategy is no longer working. Buyers want to buy, but we’re seeing fewer of them, and they are much more careful. Many properties are now not selling and/or coming down in price.”

The “anything goes” price, as we say, will “test” the market.  If you want to see what a buyer feels the value of your home is, and there are no or few houses for sale, an anything goes price will get you, most likely, the highest and best price.  However, as the market shifts, your home could wind up sitting on the market for sale instead with no offers coming in. Many times it is easier to look back and see when a shift had occurred rather than seeing a shift starting to happen. And, in fact with this type of pricing, your home might not sell at all. The anything goes price is a huge risk that you may not want to take if you really want to get your home sold quickly or within an average number of days on the market.

What we normally see with anything goes pricing, is a price reduction, in fact probably several during the course of it being on the market. While your home is waiting for that perfect buyer, it becomes stale and may in fact, sell for far less than what your home would have sold for had it been priced correctly to begin with.  With this method of pricing, your home will get lost in the maze of price reductions over time.

Pricing Your Home Below Market Value

Another strategy that many listing agents have used in this busy and hot real estate time is pricing the home far below its value.  A lower than value asking price brings in multiple offers and can sell far above the home’s actual worth. There is always the appraisal to worry about as it may not appraise at the sold price. This pricing also frustrates buyers as they are usually outbid. Many times, when multiple offers are received on a home, it is usually a cash offer and it can outbid a buyer looking to obtain financing.

During a buyers’ market instead, most homes that are priced below market are typically foreclosures or homes that need a lot of work and will not qualify for financing.

Pricing Your Home At Market Value

Most real estate agents, myself included, spend a lot of time finding comparables to your home in order to price your house where it will sell. Our job is to get sellers the highest and best price in the shortest period of time. A buyer will be looking at other homes in your neighborhood, area, school district, etc. and after viewing those homes will be comparing your home with those and will know if your home is well priced or not.

This standard practice has always been the norm.  However, real estate markets change, and frankly in all the years I have been selling, each year is different and no real estate market has ever been the same. We are now facing a shift in our Portland metro and Lake Oswego real estate markets.  It is important during this time to make sure your price is where your home will sell.

An Agent Who Knows Your Neighborhood/Area

There is something that I have noticed the longer I have been selling real estate.  It is extremely important you hire an agent who knows your neighborhood, its peculiarities, its special features, etc.  I have seen many agents list homes in areas they know nothing about and the houses have had longer market times and in some cases the houses did not sell.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Garages haven’t always been part of the American home. In fact, it wasn’t until Ford Motor Co. started mass-producing the Model T in 1913 that small detached sheds were built on properties that had enough land to protect these new inventions. In the 1980s, garages grew larger to keep in scale with emerging McMansions. Some were finished with heating, painted floors, windows, and storage. And in the most extreme cases, they were converted into living space, which meant cars again had to be copyright bettyjung.comparked elsewhere.

There are some HOAs that limit the number of cars you can park in your driveway. Some communities even have strict street parking rules, require permits, or limit parking hours. Sometimes permits are available free or at a reduced cost for residents. Checking those HOA rules and regulations are important when purchasing a home regarding parking issues when there is no garage.

How Much Do You Value A Garage?

Recently during their search for a home, my clients realized, after looking at many houses, that a garage was indeed important to them.  Originally it was not on their “wish” list.

In our Lake Oswego Real Estate Market, there are houses sometimes without a garage, some have carports, some have a single car garage, and many times the garage has been converted to additional living space.

Is There Room To Build A Garage?

In Lake Oswego recently, there was a home that did not have a garage that I showed to the clients mentioned above.  That house, during a busy real estate season, sat and did not sell.  There was room to add a garage and that was noted on the listing.  Eventually, and smart of the owner to do so, he added a home without a garage, even if the location, price, and everything else about the house meets their approval.

The Cost Of Adding A Garage

Garage prices vary according to the size, style, materials, foundation required, storage options, types of doors, and who does the work—an architect, design-build firm, or contractor. A “typical” 20-by-20-foot, two-car, detached garage with vinyl siding and shingle roof usually ranges between $20,000 and $38,000 according to NAR®.

How Much Of A Discount For No Garage?

How much of a discount is given to a house with no garage during a sale and by an appraiser? Again, according to the National Association of REALTORS® (NAR®),  the absence of a garage can decrease the appraised value by as much as 20 percent.  How much do you value a garage?

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. 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 Will The Highest Offer Always Be The Winning Offer

The simple answer is no. Once sellers are presented with written offers they are free to choose one of them, reject all of them, or make counter offers.bettyjung.com

There is no obligation to accept the offer with the highest price. In fact, the seller is not obligated to accept any offer.

Even if a competing offer includes a lower price, it might be more attractive for other reasons. For example, the seller might be tempted to choose an offer that doesn’t include a financing condition, or the offer they choose might have a closing date that works better for them.

Price is just one factor for the seller to consider.

Of course, most transactions don’t play out that way, so I’d like to provide some tips for navigating a multiple offer situation (also known as a bidding war).

Planning ahead is important so that you’re prepared for a process that can often be fast-paced, and emotional.

Whenever you’re putting together an offer, it’s best to keep a level head. It’s important to set a budget ahead of time, and stick to it.

You might also be tempted to put in a bid without home inspection or financing conditions to make your offer more attractive. This is a risky proposition. If there’s no financing condition, you could lose your deposit if you can’t get the funds to complete the deal. And without a home inspection condition, you could be on the hook for costly repairs down the road.

These are serious risks, and you should make sure that you understand the trade-offs before you leave these conditions out.

As the summer heats up, the housing market is showing some signs of cooling. This may reduce the number of bidding wars, but it likely won’t eliminate them.

Try to keep your emotions in check, and understand the potential risks of the strategy that you take. Your broker or salesperson can be a guide throughout the process.

Contributed by: Joe Richer, Real Estate Council Of Ontario (RECO)

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

 

Since getting my first computer, I have always tried to be cognizant of all the scams that exist.  Granted, I don’t know all of them but I pride myself on being careful. Saying “No” has always been much easier for me than saying “Yes” to something.bettyjung.com

Easy Scam To Fall For

In mid-December 2017, I changed real estate companies and took my business home.  While setting up my in-home office, I could not get my HP printer to work.  I couldn’t find the driver on-line to upload so, like many of you perhaps, I sought help on-line from HP.

The HP tech person did assist in getting my printer working and, during the course of the conversation, asked if I had scan/virus protection.  The laptop I was now going to use was purchased in 2015 and I never used it prior to my move home.  I had virus protection from Best Buy where I purchased my computer via WebRoot.  So when the HP tech recommended WebRoot I was familiar with that program and thought nothing of it. The cost was $300 and again thought that was reasonable as Best Buy’s program was $350.  There was nothing that set off any alarms.

During the course of getting the WebRoot up and running, I somehow got switched over to Geeks World effortlessly.  Everything worked fine and that was the last of it until this past week now 7 months later.

Those Nasty Scammers

This past week I started getting phone calls from Geeks World telling me there was a problem with my IP address and I had numerous viruses.  I never answered their calls until one day I did by mistake.  During our conversation, the Geeks World tech was asking me questions that were not normal nor were they related to my computer. I saw a red light come on.  In the middle of the phone call I hung up and went into my control panel to take a look.  I deleted some things I thought were fishy.

When I hung up I did a Google search of Geeks World.  Was I ever surprised by what I found.  It really opened my eyes and I had indeed been scammed.  Here is the link to what I found.  Apparently many are falling for the same scam and they all started with getting help on-line for their HP printers.  In addition, I am somewhat lucky while I only paid out $300, many have paid them thousands of dollars.

Thankful and Grateful I Get Free Tech Help

Thankfully, my Oregon Association of REALTORS® provides all us real estate agents free tech help. Today, I contacted them and they cleaned up my computer and ran a virus scan.  Thankfully, Geeks World did little to no damage.  I thought perhaps they hadn’t completed the work they wanted to do to my computer, as they are still calling me. Thankfully, I now know who and what they are.

Please be careful when getting assistance on-line.  You may think you are dealing with a certified HP tech but you may not be.  Just a heads up to let you know what happened to me.  I hope it doesn’t happen to you.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but 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.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

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 1978 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 2008-2018. 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

MORE Realty, Inc.
14945 SW Sequoia Parkway, #150
Portland, OR. 97224

503-804-9685 Cell

or email:betty@bettyjung.com

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

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