West Linn Real Estate Market Activity – February 23-March 1, 2009
Ron Ares March 2nd, 2009
Ten homes went sale pending or closed escrow last week in West Linn. Of the sold homes, most had been purchased at modest prices, then extensively remodeled. Almost all had been listed and relisted over many months and suffered, therefore, numerous price discounts. But eventually, prices found bottom and the properties sold.
On a personal note, I was delighted to help the new owners of 1175 Dollar St. find their new home — perfect for their growing family.
The new listings (12) can be viewed here. Of the new properties, there is only one bank-owned property and no short sales.
NEWLY LISTED
| ADDRESS |
LIST PRICE
|
# BEDS
|
# BATHS
|
TOTAL SQ FT
|
TYPE OF HOME |
DATE LISTED
|
| 2185 CHARMAN ST |
$209,900
|
6
|
3
|
2,679
|
DETACHD |
2/24/05
|
| 4177 IMPERIAL DR |
$280,000
|
3
|
2.1
|
2,346
|
DETACHD |
2/25/05
|
| 1781 BUSE ST |
$369,900
|
5
|
2.1
|
2,804
|
DETACHD |
2/22/05
|
| 1696 19TH ST |
$374,900
|
4
|
2.1
|
1,800
|
DETACHD |
2/28/05
|
| 6280 TACK CT |
$375,000
|
3
|
2
|
2,026
|
DETACHD |
2/27/05
|
| 2641 WAKE ROBIN CT |
$399,000
|
4
|
2.1
|
2,235
|
DETACHD |
2/23/05
|
| 19744 BENNINGTON CT |
$449,000
|
4
|
2.1
|
2,400
|
DETACHD |
2/24/05
|
| 3563 VISTA RIDGE DR |
$509,900
|
3
|
2.1
|
2,750
|
DETACHD |
2/28/05
|
| 25455 SWIFT SHORE DR |
$569,000
|
3
|
2.1
|
2,979
|
DETACHD |
2/25/05
|
| 21305 MILES DR |
$575,000
|
4
|
3
|
3,361
|
DETACHD |
2/24/05
|
| 2984 SUNBREAK LN |
$609,000
|
4
|
2.1
|
3,111
|
DETACHD |
2/26/05
|
| 231 SW FOREST COVE RD |
$749,900
|
3
|
2.1
|
2,758
|
DETACHD |
2/22/05
|
PENDING SALES
| ADDRESS |
LIST PRICE
|
TOTAL BEDS
|
TOTAL BATHS
|
TOTAL SQ FT
|
TYPE OF HOME |
DOM
|
| 4320 CORNWALL ST |
$200,000
|
2
|
1
|
1,000
|
DETACHD |
156
|
| 2103 GREENE ST |
$396,380
|
4
|
3.1
|
3,897
|
DETACHD |
213
|
| 2248 VALLEY VIEW DR |
$419,900
|
5
|
2.1
|
3,013
|
DETACHD |
646
|
| 2973 Winkel WAY |
$529,900
|
4
|
2.1
|
3,355
|
DETACHD |
210
|
| 25165 SW PETES MOUNTAIN RD |
$750,000
|
4
|
5
|
7,089
|
DETACHD |
3
|
CLOSED SALES
| ADDRESS | ORIGINAL PRICE | SOLD PRICE |
# BEDS
|
# BATHS
|
TOTAL SQ FT
|
TYPE OF HOME |
DOM
|
| 1020 SNIDOW |
$359,900
|
$205,000
|
3
|
1.1
|
1,708
|
DETACHD |
563
|
| 4578 NORFOLK ST |
$333,333
|
$275,000
|
3
|
3
|
2,200
|
DETACHD |
72
|
| 1175 DOLLAR ST |
$495,000
|
$345,000
|
4
|
2
|
1,910
|
DETACHD |
264
|
| 3502 FAIRVIEW WAY |
$569,900
|
$435,000
|
3
|
3
|
2,771
|
DETACHD |
10
|
| 2133 JOHNYNE CT |
$515,000
|
$495,000
|
3
|
2.1
|
3,133
|
DETACHD |
18
|
Criteria: Homes in the 97068 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS ). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer.
Related posts:
Hi Ron, congratulations on a successful transaction and helping a family make West Linn their home. It’s a great city and if they are new to the area, they won’t be disappointed. It’s also great to see some sales activity. Looks like we have hit a plateau at around $140-$160/sqft for the typical West Linn home. I am still surprised to see newly listed homes asking $200/sqft. Perhaps the hope is that spring will bring out the buyers and the proverbial ‘pent-up’ demand, but I doubt it. Most of the sales action will be in the sub-$500K range, and this week’s sales activity shows that. My financial portfolio is just getting hammered, as I’m sure is anyone else in the market to purchase a home. Overall, the spring real-estate season is going to be weak, and only those homes that are competitively priced will move. Those asking $200+/sqft should hunker down for a long wait….
By the way, does anyone know if the Legend Homes/DR Horton development near Tanner Creek Park a failed development ? I think the Legend Homes portion is now bank-owned, since this development does not show up on the Legend Homes website. And the DR Horton home seems to have violated some city building code. It will be very interesting to see how this neighborhood takes shape over the next couple of years. The biggest mistake Legend homes made in this development was building the homes too close together. When I looked at these homes over a year ago, the homes were very nice but the thought of paying $650K for what looked like large townhomes was not very appealing. I guess I wasn’t the only one with thoughts, since these homes have been reasonably priced for the market, but still continue to sell very slowly.