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Lake Oswego Market Update

By
Real Estate Agent with Portland Home Sellers 200204331

Market profile for Lake Oswego, Oregon

Lake Oswego located just 7 miles south of the Portland, OR metro area.  Market continues to brave a buyers market with price decreases to move inventories.

Though LO has not seen the short sale and REO conditions of some markets, we are experiencing a softening in price due to lack of confidence from the Buyer.  Still holding price average in the mid 500K we wold seasonally see a tick upward heading into spring.  Don't think we will see that is year as sellers are all targeting the same few buyers. 

Since many Lake front or view homes are either in the multi million range for the turnkey move in, the others sit just below the 1M and are in need of a major face lift or knockdown.  Those buyers don't have the cash to throw at properties today, and sellers in that zone are not use to having to wait for a buyer.

Only prices that seem to still be moving are the buyers capping at the conventional loan 417K (for here) and just enough cash for a decent down.

For more information on the Lake Oswego market, please call 5033495-5231 or email info@LakeOswegoHomeSellers.com

Altos research Lake Oswego 3.8.09

 

 

 

 

Tony and Libby Kelly
Keller Williams Realty Portland Premiere - Lake Oswego, OR
CRS, ABR, ePro, SRES, CLHMS, CDPE

Really great post.  Very informative.  Great job!

Mar 11, 2009 06:26 AM
Pangaea Interior Design Kitchen & Bath Design, Remodeling
Portland Oregon - Portland, OR

"All targeting the same few buyers" says a lot. I guess having patience and doing everything to prepare your property thoroughly with realistic expectation on price is key.

Mar 11, 2009 06:31 PM