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Time To Vote – Gallery Without Walls

One of the fun things about living in Lake Oswego is all the art work and sculptures that are displayed within Lake Oswego’s Gallery Without Walls in our town.  Every year, we who live here, get to vote on our favorite.

Gallery Without Walls

Your vote counts! Which on loan sculpture from the works pictured would you like to see become a permanent part of the City of Lake Oswego? This year’s winner will become part of the city of lake Oswego’s permanent art collection. The artist and sculpture will be honored at the Gallery Without Walls Celebration on September 14, 2019 at Sundeleaf Plaza.

This year’s nominees include:

Arts Council of Lake Oswego

#1 Pollinators by Greg Fields – made from glazed ceramic and steel. The sculpture is located at Windward at the corner of Evergreen and First Street.

#2 Guermo en Inverno by Jamie Burnes – fashioned from Cor-ten steel and locust wood. The sculpture is located on A Avenue between Fifth and Sixth Street.

#3 Observation Tower by Dale Reiger – made from Kiln-formed glass. The sculpture is located on the corner of B Avenue and Second Street.

#4 Know Time by Benjamin Mefford – constructed of basalt. The sculpture is located on A Avenue and Fourth Street.

#5 Frog on Fruit by Heather Söderberg-Greene – created from bronze. The sculpture is located on the corner of B Avenue and First Street.

Paper ballots can be found at the following locations: City Hall, Lake Oswego Public Library, the Arts Council of Lake Oswego, the Adult Community Center, LO Maintenance Center, Lake Oswego Chamber of Commerce, and New Seasons at Mountain Park.

Presented by the Arts Council of Lake Oswego in partnership with the City of Lake Oswego & Living Well in LO!

I have already voted have you?  DEADLINE FOR BALLOTS IS 5/19/19.  You can vote here

VOTERS MUST RESIDE OR WORK IN LAKE OSWEGO, OREGON. ONE VOTE PER PERSON!

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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.  Or check out my 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! 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 2008-2019. Betty Jung. All Rights Reserved

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The latest stats were published yesterday from RMLS™ for February 2019.  We had some crazy weather this past month, and I don’t know how much that affected our Portland metro real estate market, but it usually does.

Instead of inventory increasing going into the busy Spring buying/selling real estate season, it is once again trending downward.  Inventory dropped, prices increased and days on the market is hovering around 75 days to sell a home.  The 75 days on the market is a clear sign that real estate continues its slow-down. Last year, the days on the market were 69 days as a comparison to this year.

Houses in some areas are still selling quickly and once again there are still multiple offers being seen.  This is not the trend throughout the entire Portland metro area, however. We are still in a sellers’ real estate market and nowhere near a balanced market, favoring both buyers and sellers.  If you are still waiting for a drop in prices, you may be waiting for quite a while, and they may never drop to levels where you hope they will.  Rates are historically low, and now is still a great time to purchase a home.

If you are wanting to sell, you most likely have seen a lot of equity in your home by now and this is a great opportunity for you to purchase a new home.

February Residential Highlights

Activity in Portland was mixed this February, but some gains were seen compared with last month.bettyjung.com

Closed Sales

Closed sales, at 1,726, rose 19.0% ahead of the 1,451 closings recorded last month in January 2019, but fell 4.4% short of the 1,806 closings recorded last year in February 2018.

Pending Sales

Pending sales (2,208) fared similarly, ending 5.5% under the 2,337 offers accepted in February 2018 but rising 8.0% over the 2,045 pending sales from January 2019.

New Listingsbettyjung.com

New listings, at 2,444, fell 3.4% short of February 2018 (2,530) and 19.8% short of January 2019 (3,048).
This was the coolest February for new listings in the Portland metro area since 2014, when 2,354 were put on the market.

Days on the Market

Total market time decreased by one day in February to end at 75 days. During the same period, inventory decreased to 2.7 months. There were 4,579 active residential listings in the Portland metro area
in February.

Average and Median Sale Pricesbettyjung.com

Comparing the average price of homes sold in the twelve months ending February 28th of this year ($452,100) with the average price of homes in the twelve months ending February 2018 ($432,200) shows an increase of 4.6%. In the same comparison, the median has increased 4.4% from $383,000 to
$400,000.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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.  Or check out my 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

OREGON RENT CONTROL

The Oregon House has approved new eviction protections and a first-in-the-nation statewide rent control policy. The legislation will be signed by Oregon’s Gov. Kate Brown and takes effect within 5 days once the Governor signs.

With Brown’s signature, Oregon is the first state to enact a statewide rent control program. In other states with rent control policies, cities enact and administer local programs.

The bill caps annual rent increases to 7 percent plus inflation throughout the state. It exempts new construction for 15 years, and landlords would be free to raise rent without any cap if renters leave of their own accord. Subsidized rent would also be exempt.

Backers characterized the bill as unlike the rent control policies common in some of the nation’s most expensive housing markets and dimly viewed by many economists

Studies have found those policies can be effective in reducing displacement of current tenants but result in a reduction in rental housing units and higher rents for new renters.

Democratic leaders have described their bill as an anti-price gouging measure that offers landlords and developers much more flexibility than policies elsewhere.

“This is not the rent control of yesteryear,” said Rep. Mark Meek, D-Clackamas County. “It’s a smart, innovative hybrid.”

But opponents said it would slow investment in housing, adding to the rental shortage that’s contributed to rising rents in the first place.

“With the growing cost of our property taxes, insurance and maintenance, the incentive to add rentals will decrease,” said Rep. Jack Zika, R-Redmond. He suggested it’s likely the restrictions would increased once in place, and that prospect could further drive disinvestment. “Why would anyone invest in a state if the Legislature is prone to tighten restrictions?”

The vote was split mostly along party lines, with three Democrats breaking ranks to vote “no.”

The bill keeps in place the state’s ban on cities implementing their own more restrictive rent control policies, which was passed by the Legislature in 1982 in response to several local rent control pushes.

Senate Bill 608 also requires most landlords to cite a cause, such as failure to pay rent or other lease violation, when evicting renters after the first year of tenancy.

Some “landlord-based” for-cause evictions would be allowed, including the landlord moving in or a major renovation. In those cases, landlords would have to provide 90 days’ notice and pay one month’s rent to the tenant, though landlords with four or fewer units would be exempt from the payment.

In a hearing earlier this month, renters from across the state told lawmakers about how evictions and big rent hikes had affected them.

Tigard resident Gloria Pinzon told lawmakers that she was on track to buy a house when a rent increase followed months later by a no-cause eviction wiped out her savings.

“This happened to me about two months after I’d recently gotten employment after graduating from college,” Pinzon said. “If this had happened to me months before, I don’t know what would have happened to me and my family.”

Landlord groups had mixed views on the legislation, with some taking a neutral stance and others staunchly opposed.

But many landlords told lawmakers they felt unfairly targeted by the bill. They said the bill could drive Oregon landlords out of the business, worsening the housing shortage.

“We really do have a supply issue, and that can’t be ignored,” said Terry Luelling, a Bend rental owner. “Most of those laws are born right here in this building, in the overly restrictive land use.”

Other bills attempt to add to the supply of housing. They include policies that would allow more density in residential neighborhoods, as well as new funding for subsidized affordable housing and initiatives to speed such projects through their development approvals.

Here is the link to Senate Bill 608

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

COFFEE MEET UP

COFFEE MEET UP CANCELLED DUE TO SNOW. To ensure everyone’s safety this meet up is CANCELLED. Both Castle and Creek Interior Design and I are available for individual meet ups. Text #5038049685 to set up an individual time at your convenience. Coffee Meet Ups are always held the last Wednesday of every month. Next meet up scheduled for Wednesday, March 27, 2019 at 6:30 p.m. Hope there is no snow then!

*************************************************

Tomorrow Wednesday 2/27/2019 6:30 p.m at Ava’s Roasteria–Kruse Village. 4847 Meadows Road, Lake Oswego. Join us for a Q & A on interior design, space planning & more plus any real estate questions you have. Sponsored by: Betty Jung, MORE Realty and Castle & Creek Interiors. Get a free cup of coffee or latte. See you there!

bettyjung.com

 

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

RMLS™ MARKET ACTION REPORT JANUARY 2019

January Residential Highlights

New Listings

The Portland area saw an uptick of new listings to begin the year this January. There were 3,048 new listings, a 22.6% increase over January 2018 (2,486) and more than double the 1,255 new listings offered
last month in December 2018. The prior January that had more listings was in 2011, when 3,128 were
offered. There are reports indicating we have not had this many houses for sale in 7 years. Inventory is definitely creeping up, and Spring is just around the corner when Sellers really start putting their homes on the market for sale.bettyjung.com

Pending Sales

Pending sales, at 2,045, decreased 11.5% from January 2018 (2,311) but surged 27.9% ahead of the 1,599 offers that were accepted last month in December 2018..  Fewer and fewer multiple offers are being seen.  However, will Spring have a resurgence of those kind of offers.

Closed Sales

Closed sales, at 1,451, ended 10.9% cooler than last year in January 2018 (1,628) and 21.4% cooler than last month in December 2018 (1,846).

Inventory & Days On Market

Inventory rose to 3.3 months in January, with total market time rising to 76 days.  Days on the market has increased.  The days of hitting the market and selling instantly are over.  Hopefully, sellers are now in step with what is happening in our local real estate market in the Portland metro area.

Average and Median Sale Pricesbettyjung.com

Comparing the average price of homes sold in the twelve months ending January 31st of this year ($452,200) with the average price of homes in the twelve months ending January 2018 ($430,000)
shows an increase of 5.2%.

In the same comparison, the median has increased 5.3% from $380,000 to $400,000.

Lockbox Activity Decreases

I don’t normally post this statistic regarding lockbox activity – ie lockboxes that were opened for bettyjung.comshowings.  But, it indicates how weather affects selling real estate in the Pacific NW, particularly in the Portland metro area.  We had a false snowmageddon and I guess everyone decided to stay home and eat their kale (inside joke for Portlanders!).  They decided to stay home and not look at houses.  We get this stat weekly. This one covers February 4-10 and in fact, the following week was when we were expecting the worst of the snow.  Will post that stat next time to see if it was an even slower time.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Here is another post for sold stats in one of Lake Oswego’s elementary schools.

These are the real estate stats for single-family, detached homes in the Westridge Elementary school district for 2017 vs. 2018.

If you are new to Lake Oswego, here is the link to Westridge Elementary School. This elementary school is bettyjung.comlocated at: 3400 Royce Way, Lake Oswego, OR 97034

Westridge Elementary School Sold Stats

Stats for 2017

# Houses Sold = 127

Average Sq. Ft. Sold = 3304 sq.  ft.

Average # of Days On The Market = 67 Days

Average Sold Price = $927,208

% of Original List Price to Sales Price = 96.74%

Stats for 2018

# Houses Sold = 157

Average Sq. Ft. Sold = 3403 sq. ft.

Average # Days On The Market = 91

Average Sold Sq. Ft. $ = $290.

Average Sold Price: $985,206.

% of Original List Price to Sales Price = 91.52%

Summary:

Definitely a popular elementary school.  More homes sold in 2018, at a higher prices, but days on the market increased from 2017.  In addition, it appears that buyers got offers accepted lower than their original list price, compared to 2017, as houses sold at 91.52% of their original list price in 2018.

Are you currently looking for a home in the Westridge Elementary School District? There are currently 35 houses for sale in the Westridge Elementary School District.  You can view them here.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

This is my third post about the stats for an elementary school within the Lake Oswego School District. Today, I am posting/comparing stats for 2017 vs. 2018 for Hallinan Elementary School.

If you are new to Lake Oswego, here is the link to Hallinan Elementary School. This elementary school is bettyjung.comlocated at: 16800 Hawthorne Dr., Lake Oswego, OR. 97034

Hallinan Elementary School Stats

Stats for 2017

# Houses Sold = 119

Average Sq. Ft. Sold = 3089 sq. ft.

Average # of Days On The Market = 96

Average Sold Sq. Ft. $ = $269

Avg. Sold Price = $830,327

% of Original List Price to Sales Price = 96.3%

Stats for 2018

# Houses Sold = 142

Average Sq. Ft. Sold = 2916 sq. ft.

Average # Days On The Market = 59

Average Sold Sq. Ft. $ = $269

Average Sold Price = $785,446.

% of Original List Price to Sales Price = 95.86%

Summary:

More houses in this school district were sold in 2018 vs. 2017.  Houses took quite a bit less time on the market to sell in 2018, sales price dropped in 2018, but pretty much all the other stats are similar for both years.

Are you currently looking for a home in the Hallinan School District?  There are currently 29 houses for sale in the Hallinan School District and you can view them here (limited # of views). 

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

bettyjung.comThere has been a lot of discussion in my Facebook groups about the recent changes to the FIRPTA Law in Oregon.  Looking over all my blog posts, I realize I have never posted any information about it here, although I have written about it in my Jung’s Journal – Real Estate Newsletter, to my clients. Starting January 2019, there have been some changes made within Oregon when you are buying or selling real estate in regards to FIRPTA.

What follows is a summary from Phil Querin, Querin Law, LLC, to give you some more information/background.  Check with your real estate agent, or me, in addition to your title company regarding what needs to be done whether buying or selling your home.

FIRPTA Oregon & IRS LAW

A Wrong-Headed Law? Most people have never heard of the Foreign Investment in Real Property Tax Act, commonly known as “FIRPTA” – unless they have been involved in the “disposition” (i.e. sale/purchase) of U.S. real property from a “foreign person”.

The FIRPTA law says that if the seller is a “foreign person”, the “transferee” – i.e. the buyer, is the “Withholding Agent” that is legally responsible for collecting the tax and forwarding it to the IRS. Any lay person could be forgiven for thinking it is wrong-headed to make the buyer responsible for their seller’s tax liability. But this has been the law for nearly 40 years. And that’s not all. The IRS says:

In most cases, the transferee/buyer is the withholding agent. If you are the transferee/buyer you must find out if the transferor is a foreign person. If the transferor is a foreign person and you fail to withhold, you may be held liable for the tax.

Huh? It’s true! The premise is that the seller may not be in the country at the time of closing, or may be long gone by the time the IRS finds out.  So while this may sound harsh, it’s likely the only way to administer a law that attempts to tax foreign nationals when they dispose of U.S. real estate – short of having an IRS agent attend every real estate closing.

FIRPTA Primer.  What follows is the Readers Digest version of FIRPTA.

  1. The Withholding Requirement will not apply, even if the seller is a “foreign person” if (a) the purchase price of the property does not exceed $300,000; and (b) The property will be occupied as a residence by the buyer (who is an individual or a member of the buyer’s family) (iii) for at least 50% of the number of days (excluding days the property is vacant) it is used by such person during each of the first two 12-month periods following the date of closing;
  2. The Withholding Requirement is ten percent (10%) of the purchase price when the seller is a “foreign person” and the purchase price is over $300,000, but less than $1,000,000, and (1)(b) and (c) above apply; and
  3. The Withholding Requirement is fifteen percent (15%) of the purchase price when the seller is a “foreign person” and the purchase price is over $1,000,000, or the purchase price is $1,000,000 or less, and Seller does not qualify for any of the exemptions in (1) or (2) above.

The “What Ifs?”  So how does one go about determining if the seller is a “foreign person”?  If the seller is an individual, the easiest way is to ask for their social security number. If the seller is a business entity, you can ask for the employer identification number.

  • But what if the seller declines to turn over their social security number of EIN to their buyer? In the Oregon statewide sale agreement form, the seller affirmatively represents that they are not a foreign person. And the RMLS™ includes a place for a seller to declare whether they are, or are not, a foreign person. So isn’t that good enough? No.
  • What if the seller gives me a social security number that is bogus? Am I protected against failing to withhold, since the seller conned me? Not really.

The FIRPTA Affidavit. The only fail-safe protection is to have the seller sign a “FIRPTA Affidavit” – also known as “Affidavit of Non Foreign Status”. This simple form, containing a certification under oath that the seller is not a “foreign person” and disclosing the transferor’s name, U.S. taxpayer identification number and home address (or office address, in the case of an entity), will insulate the buyer so long as the buyer does not have actual knowledge that it is untrue, i.e. that the seller is a “foreign person”.  (Note that the buyer’s real estate agent can be held liable to the extent of their commission if they have actual knowledge that the seller is a foreign person, and there has been no withholding.)(Go to this link for sample Affidavit form.)

The more complicated issue with the Affidavit is retention; who is to hold it for the required 5-year period?  Since it contains the seller’s social security number (or employer identification number), sellers are understandably reticent to permit their buyer to have this information, for fear of it getting into the wrong hands and resulting in identity fraud.

In an effort to address the issue, a law was enacted to permit someone other than the buyer hold the Affidavit. Thus, was created the “Qualified Substitute” rule, which contemplated that the title company or attorney closing the transaction would serve in that capacity.[5] However, in Oregon at least, several title companies quietly demurred, leaving the task to the buyer.  This may be changing, however, and more companies have recently been coming around, as they see the competition promoting their services as a Qualified Substitute.

Buyer Tip.  If there is any concern about whether FIRPTA could apply to your transaction, make sure your title company will serve as the Withholding Agent to pay the mandatory tax to the IRS (if FIRPTA applies), or serve as the Qualified Substitute (if it does not apply).  

Source: Phil Querin

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Every year I say that I will post stats for each of the elementary schools in Lake Oswego, and each year I get side-tracked. Therefore, I am trying to start the year off fulfilling my promise.  I will do a different elementary school each week.

This is now the second elementary school highlighted.  The first was Forest Hills Elementary School. Here are the real estate stats for single-family, detached homes in the Oak Creek Elementary school district for 2017 vs. 2018.

If you are new to Lake Oswego, here is the link to Oak Creek Elementary . This elementary school is bettyjung.comlocated at: 55 Kingsgate Road, Lake Oswego 97035. 

Oak Creek Elementary School Stats for 2017

Stats for 2017

# Houses Sold = 99

Average Sq. Ft. Sold = 2882 sq.  ft.

Average # of Days On The Market = 45

Average Sold Price = $684,218

Average Sold Sq. Ft. $ = $237

% of Original List Price to Sales Price = 96.2%

Stats for 2018

# Houses Sold = 84

Average Sq. Ft. Sold = 2940

Average # Days On The Market = 74

Average Sold Price = $724,872

Average Sold Sq. Ft. $ = $247

% of Original List Price to Sales Price = 97.24%

Summary:

What a difference a year makes.  There were far fewer houses that sold in the Oak Creek elementary school district in 2018 than in 2017.  In addition, the # of days on the market increased = a slower market. Houses also sold closer to the original asking price in 2018 than they did in 2017. Prices were higher and continued to increase in 2018 as well.  All this has been very typical to what we have been seeing across the board in our Portland metro real estate market.

Are you currently looking for a home in the Oak Creek Elementary School District?  There are currently 10 houses for sale and you can view them here (limited # of views). 

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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! 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 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Every year I say that I will post stats for each of the elementary schools in Lake Oswego, and each year I get side-tracked. Therefore, I am trying to start the year off fulfilling my promise.  I will do a different elementary school each week.

To start, here are the real estate stats for single-family, detached homes in Forest Hills Elementary School district for 2017 vs. 2018.

If you are new to the Lake Oswego area, here is the link to Forest Hills Elementary School.  This elementary school is located at: 1133 Andrews RoadLake Oswego, OR 97034

Forest Hills Elementary School Real Estate Stats 2017 vs. 2018

Stats for 2017

# Houses Sold = 135

Average Sq. Ft. Sold = 3348 sq.  ft.

Average # of Days On The Market = 89

Average Sold Price = $1,251,813.

Average Sold Sq. Ft. $ = $363.

% of Original List Price to Sales Price = 94.2%

Stats for 2018

bettyjung.com

# Houses Sold = 136

Average Sq. Ft. Sold = 3329 sq. ft.

Average # of Days On The Market = 96

Average Sold Price = $1,133,092

Average Sold Sq. Ft. $ = $350.

% of Original List Price to Sales Price = 96.13%

Summary:

As noted in other posts, prices are still increasing due to our low inventory of houses for sale and days on the market are also increasing.  Houses are taking longer to sell.  Surprisingly, when the market was “hotter” last year, offers in the Forest Hills Elementary school area that were accepted, were 94.2% of the original list price.  Those buyers in 2017, made lowers offers and purchased their homes for less than in 2018. Also, almost the same # of houses sold in 2017 than did in 2018.

Want more information about Forest Hills Elementary School or the area?  I would be happy to provide any information for you.

Houses For Sale Forest Hills Elementary School District

Are you looking for a home in the Forest Hills Elementary School District?  There are currently 39 houses for sale and you can view them here. (Limited # of views).

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. 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! 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 2008-2019. 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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