If you are lucky enough to own a home in Lake Oswego, here are five things you can add to your gratitude list when you gather around the turkey this month.
1. Your home is going up in value. Just by owning a home in Lake Oswego, your net worth has gone up 11.3% this past year. That’s on top of a 7.6% appreciation the year before that. What does that look like in terms of dollars and cents? A home I sold last January in the First Addition for $660,000 is now worth $755,000 based on recent sales. In Lake Oswego, your home does more than provide shelter. It provides financial security too.
2. Interest rates are still working in your favor. Thirty year fixed rates continue to remain low at around 4.25%. Five year adjustable arms can be found at 3-3.25% and 15 year adjustables are coming in at 3.25 to 3.5%.
3. It’s the best of all markets. We’ve gone from a buyer’s market during the recession to a seller’s market the last year to more of an even playing field, making it better for everyone involved. No one is “making a killing” or “getting a steal.” Prices tend to rise slowly and evenly during a market such as this which is much more sustainable than the crash and booms of the past. The Lake Oswego real estate market is primed to offer both buyers and sellers a win/win situation right now.
4. Location. Lake Oswego can stand on its own with shopping amenities, restaurants and a thriving downtown; however, it’s also close to everything else the Portland metro area and state of Oregon has to offer. And depending on what’s important to you (access to I-5, walk-ability to schools, close-in to downtown, you can find a neighborhood that gives you just what you are looking for.
5. Schools. If you read my blog, you know there are more than 52 Reasons to Love Lake Oswego. But in my twenty plus years of selling real estate, I’ve seen the school district’s reputation bring in as many homebuyers as the lake, the location, or the community. Our strong schools bring people in, fuel home values, and keep the demand for housing high.
Anything else you’re grateful for this Thanksgiving season? Leave a comment and share with us.
If you’d like to give thanks for living in Lake Oswego, give me a call at 503.939.9801. You’ll be thankful you did!
Family’s Group Jump Photo Wins Lake Oswego Photo Contest
Thanks to all of you who voted for our Group Jump picture in the Lake Oswego Photo Contest. We came in first place in our category! Check out the other winners here.