I have listed and sold a home on Margery Street twice, first in 2007 after the home had been nicely updated by my client, and then the buyer who purchased it called me to list it for them last year (they moved to California).
Regarding the neighborhood, the neighbors are lovely people and both my clients enjoyed living there. There's a park about 3-4 blocks away (across the street and up the hill) which the kids loved, plus the walkability of the area is great... Willamette Park, Fields Park, Old Town Willamette shops and and restaurants, professional offices and the grocery/pharmacy are all within easy walk times. Willamette Elementary is an exemplary school, also!
The freeway noise was definitely an issue to contend with in selling the home. It's funny.... both of my clients were fine with the noise as they didn't use the back yard for entertaining. They expanded the front deck/porch, and made a nice eating area there. Inside the noise was almost nonexistent. Since I worked with two appraisers on that property, both told me the freeway accounted for $10K-$15K difference in a home backing to the freeway and one that doesn't. As long as you buy it with that in mind at a price that reflects it, you should be OK when selling it with that same reduction from a typical comparable home.
My clients had not built a barrier such as a dirt berm with tall growing foilage or a cement wall, etc. I heard from several buyers that something of that nature would have made quite a difference. To get into the West Linn community and school district, many buyers are willing to sacrifice noise (at the right price) for an affordable home.
I also live in the Willamette area of West Linn, about 1/2 mile from Margery St. I'm extremely familiar with the area and would be happy to answer further questions or help you in any way. :)... more