Home Selling in 97035>Question Details

Detroitpdx, Both Buyer and Seller in Mt. Park/Lake Oswego

I'm having a hard time assessing my Mt. Park townhome's value. Prices seem to wildly

Asked by Detroitpdx, Mt. Park/Lake Oswego Mon Jan 14, 2008

fluctuate. The development across the street has three units for sale from 775K-595K (2800-3000sq ft). But, a small unit in my development (new siding and roofs this year) sold for 275K (1600sq ft). I have a 3bd/2.5 bath (1982sq ft) and have no idea what my place is worth. I bought it for 275K. I have just put in new windows, a new deck, a new furnance, new skylights, new drywall on the ceilings, and am thinking about putting in hard wood floors. Any thoughts? Thanks! (I ask because I'd like to sell and go into a smaller, single level place in the city proper or in downtown LO.)

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Tom Inglesby’s answer
There are some other things about Mt.Park condos. Are you Multnomah Co if you are you are paying higher property taxes and you cannot just compare units in LO since the taxes are lower but the area might only be blocks apart. It sounds like you are doing major improvements but unless I look I really cannot give yo an idea if it is worth it or not? You didn't say how long ago you bought but if it was in the last 3 years I would slow down on any improvements because some of the things you are talking about are very expensive and it will take years to recover the costs. It is never equal $ for $ remodel costs for selling costs, only in some areas do you get a close return like up dating a kitchen or small remodeled bath or you do most of the work yourself to save labor then it is justified. I wonder why they were putting new siding on a condo unless it had LP or water damage? Most of the time the HOA would cover this unless you are in an attached house and you pay for your improvements and have a small HOA for common front signage or fire insurance? Give me a call and I would be glad give you a CMA. Rates are great and it is a great time to sell and get a new low interest loan.

Tom Inglesby, Broker
CRS,ABR, CLHMS, EA S.T.A.R. eco broker
503-495-5416
RE/MAX Equity Group
0 votes Thank Flag Link Tue Jan 20, 2009
Your best bet is bringing in an experienced Realtor who can provide you not only the statistical analysis of your market, but one that fully understands the nuances of the market and how your home will be positioned among the competition. I live and work in Lake Oswego and sell many homes in this wonderful community. It sounds like you have done all the right things to make your home very appealing with today's buyer. Please call me at 503-502-5227 to arrange an appointment. I can assure you I will provide an honest opinion of your homes value and the steps it will take to sell for top dollar. You can also check out my reviews online.
1 vote Thank Flag Link Fri Dec 13, 2013
Your condo sounds wonderful. But, yes prices do vary widely depending on the complex and what other choices a potential buyer has. Other factors influencing condo prices are Association Dues, potential Assessments and the overall financal health of the Association. Condo's selling in your complex are definitely considered comparable from the standpoint of location and will be used as a part of a professional Competitive Market Analysis(CMA) performed by a Realtor when listing your home. If you would like a CMA, please let me know. I live & work just down the hill from you in LO.

Linda Heinrichs
503-495-5227
1 vote Thank Flag Link Tue Jan 20, 2009
Hello Detroitpdx,

Sounds like you have made some major upgrades, I'd be curious to know the one that sold for the same price you bought what their unit has in it, even though it's a bit smaller. As most people have said without seeing it and doing a proper CMA Competitive Market Analysis we are all guessing! I would be happy to help you should you need help! Take Care...Happy Holidays!

Nadine Mosier
OR & WA Broker
Real Living -The Real Estate Group
360-606-9036
503-433-8888
0 votes Thank Flag Link Fri Dec 13, 2013
There are a number of factors that influence the value of properties in Mountain Park; which complex the unit is in, the year built, the features of the unit and development, the condition of the property, square footage, etc.

My office is in Lake Oswego and I live and specialize in the area. If it helps, I can shoot you some information that will answer your questions - no obligation, of course. The 2007 median sale price in Lake Oswego finished up 5.2% over 2006 - compared to 1.9% for the general Portland area.

We've sold a number of properties in Mountain Park - it's a very desirable area.

Best of luck!
0 votes Thank Flag Link Mon Jan 14, 2008
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