Angie, Home Buyer in Portland, OR

What is the wiggle room with new homes in the area and how is the school system rated.?

Asked by Angie, Portland, OR Mon Dec 8, 2008

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This question is about this property: http://www.trulia.com/property/1069067262-2793-Poplar-Way-La…

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3
Linda Heinri…, Agent, Lake Oswego, OR
Thu Jan 8, 2009
Angie,

You picked a fantastic home to ask a question about:) As a Lake Oswego resident and Realtor, I can say with confidence there is always wiggle room on multi-million dollar properties. Really in today's market a solid buyer has a lot of latitude. The good news is that Lake Oswego is a premier community, with one of the best school systems in the state and has maintained values better then most areas and will continue to do so in the future.

If you decide you want to pursue LO properties I can help. There are many great neighborhoods that meet a variety of needs. If you are looking to spend this kind of money you will have many, many choices and the future is bright. Enjoy!
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Dirk Knudsen, Agent, Hillsboro, OR
Mon Dec 8, 2008
School system is great! rated tope in the state of oregon. Wiggle room is all over the map. There should be more than wiggle room right now.

Seriously!

Are you looking to buy in this area? if so research is the best way to determine the right value!!

Research and a good agent.

Need one? Let us know. We work that area quite a lot.

regards;

Dirk Knudsen
#1 rated Re\Max team in Oregon
Re\Max Hall of Fame
Web Reference:  http://www.theknudsens.com
0 votes
Dennis Skoro, Agent, Portland, OR
Mon Dec 8, 2008
Hi Angie - you picked another amazing home to ask about! I answered your question about this school district when I responded to your posting about the home on Cheryl in Lake Oswego.

This home on Poplar Way is new construction built in 2006 and sits on almost an acre - it doesn't appear this has ever been occupied. It originally went up for sale in June of 2006 for $2.5 million. Over the past 2 1/2 years, the price has fluctuated - even went up in price for awhile - and then came back down to the current price of $1,995,000 in October.

As far a "wiggle room" in new homes in the area - I just ran a search for homes priced between $1 millon and $5 million that have sold in Lake Oswego in the past 6 months - there were 27. The average list price was $1,579,089, and the average sale price was $1,490,278.....that's less than a $90,000 difference in the listing and sale prices. It shows a little "wiggle" room - but realistically not as much as I'm seeing in other areas of town. Lake Oswego is still holding ground on it's values better than most areas - according to the most recent RMLS Market Action report - Lake Oswego's values are up approximately 3.6% over last year. It's one of the few areas showing an increase. It's a wonderful community and a great place to own a home from an investment standpoint.

Again - I hope that answered your questions and just let me know if you'd like to take a look.

Kelly Gebler
Real Estate Broker & Residential/Commercial Loan Officer
Commonwealth Group & Sunset Mortgage Co.
Ph: 503-516-1637
Email: LetUsGuideYouHome@comcast.net
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