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Home Buying in 97035 : Real Estate Advice

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  • Local Info0
  • Home Buying3
  • Home Selling4
  • Market Conditions1

Activity 11
Fri Aug 9, 2013
Cassandra M. Bickel answered:
The best way to figure this is to ask a few questions.

1. Are you doing the work yourself or hiring someone. (If you are hiring someone, please get a couple quotes from professionals that are licensed/insured/bonded). Getting a quote will give you a good cost of the project.

2. Are you doing this for value reasons or to make your life/living situation better/easier. One of these has got to be the primary reason even if both have a big role.

3. Are you planning on staying in the house long term or just 1-3 more years?

4. What is the difference in houses in your neighborhood with 1 bath versus 2. And what is your average inflation in your market?

By answering these questions you will be able to find out if you should recoup the cost. If homes are not appreciating at a great rate and there is only a $5-10K difference in price, AND you are only planning to stay for a short time, then it probably doesnt make financial sense,

However, if having 1 bath is a huge burden and you need that 2nd one to make your life a little easier, then you might be better off doing the project. Just expect that you might not recoup all the money you spent on the project.

Good luck.

Cassandra Bickel, REALTOR
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Fri May 17, 2013
Linda Heinrichs answered:
I live and work in the Lake Oswego community, which is predominately 97034. The Lake Grove, West Lake, Bryant Woods and some other areas of Lake Oswego fall into the 97035 zip. The price differentials are predominately related to the quality, size and location of home you are purchasing. 97034 sometimes has a higher price point because the homes are in a higher demand location, are larger and have upgraded amenities. Whatever your price point there is something for you in this fantastic community and is just a matter of matching up your expectations and budget. Let me know if you need help. ... more
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Fri May 17, 2013
Linda Heinrichs answered:
I agree the first step is to determine how much you want to spend and what kind of home you would like to purchase. Do you see yourself living on the Lake? In the hills with a view of Mt. Hood, on small acreage in town or in the walkable First Addition Grid. There are many, many choices that will be affected by your budget, what size and style of home you would like and often where you work will impact which side of the lake you choose to live. I do know that after living and working in this wonderful community for many, many years you will love all that Lake Oswego has to offer. Please call if you would like some help. ... more
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Fri Dec 14, 2012
Tangelina Grimes answered:
Your decision should be based on what's most important to you. If your a person that can deal with the freeway traffic/noise then I wouldn't worry about it. I would also suggest you investigate into why (usually your agent will do this for you) the house is priced low. If it's because of the freeway/location within the city, then that takes you back to whether or not you can deal with being close to the freeway.

Being in a community that has a top rated school district is an amazing benefit to those who care about the quality of education their children are getting. I myself appreciate being apart of a community that shares the same values as I do when it comes to education, family, and overall quality of life.

In summary, yes you should buy a low priced home in a top rated school district if in fact you place a high value on the schools and the reasons the home is priced low will not affect you being able to finance the home or become a burden to you in the future.
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Wed Oct 17, 2012
Linda Heinrichs answered:
In my opinion probably not if you have other options in your price point. Lake Oswego is a great school district and is the town in which I live and work, but location is one of the single most important aspects of your home purchase that you should consider.

If this is the perfect combination of price, house & schools, then you need to go into the purchase knowing that a home backing to the freeway will always sell in the future for less than neighboring homes across the street and a block or two away in the same neighborhood. If you are working with a good buyers agent, they will help you identify comparable homes or lower your offer to reflect a freeway in the back yard.
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Mon Sep 10, 2012
Melina Tomson answered:
Most require two but Washington Federal holds their own loans and doesn't sell them on the secondary mortgage market so they can make internal decisions rather than being bound by Freddie and Fannie criteria. I'd give them a try. ... more
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Sun Jul 8, 2012
Julie Fugate and Chris Kish answered:
I do property management and have a couple of homes in the area that i manage. Feel free to contact me.
0 votes 7 answers Share Flag
Tue May 29, 2012
Wayne Olson answered:
Hi Mick,

With so many family friendly amenities like parks, walking trails, shopping and restaurants, Lake Oswego is a wonderful community, especially for a young family. And the Lake Oswego school district is one of the highest ranking districts in the state.

In terms of size, Lake Oswego is 11 square miles with approxately 37,000 residents.

My office is in Lake Oswego, and I know the area well. Please feel free to give me a call at anytime to get more detailed information.


Wayne Olson
Real Estate Broker - Coldwell Banker Seal
(503) 699-3722
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Wed Aug 29, 2012
Anthony Cincotti answered:
There are many factors in place here that complicate your answer. Some States, such as NJ carry an exit tax which can increase your tax burden when leaving.

Below is a small piece of information that may help lead you in the right direction. And of course, I would also consult a tax attorney or a CPA.

Q. My seller is a resident alien, does that mean FIRPTA applies?
A. A resident alien, for purposes of FIRPTA, is not a foreign person. FIRPTA defines a foreign seller as a non-resident alien individual, a foreign corporation not treated as a domestic corporation, or a foreign partnership, trust or estate. There are two ways to determine if a person qualifies as a resident alien under FIRPTA:

1. If a person has been issued an alien registration card ("green card") or

2. The substantial presence test that requires a person be physically present in the United States for a certain number of days a year. 183 days (pursuant to IRS Code).
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Wed Oct 13, 2010
Allison James Estates and Homes answered:
Hi Angie - what's the property address and I'll look it up for you. Be happy to help in your home search too.

Kelly Gebler
Real Estate Broker & Residential/Commercial Finance Specialist
Commonwealth Group & Sunset Mortgage Co.
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Tue Jan 12, 2010
Duncan Hare answered:
Just? Its been going on for 9 months. Prices are down 30% to 50%, and still falling. There is a huge number of home from which to choose. Its a Buyer's market.

In any market noone knows when the top or bottom of a market happened except by looking backward. ... more
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