Lake Oswego Real Estate Report Says Waterfront Homes Better At Maintaining Value

July 17, 2012 - PRLog -- PORTLAND, Ore. - The old adage that real estate is all about location may be cliché but is especially true when it comes to waterfront homes (http://www.maxwellsinclair.com/portland_riverfront_lakefront_waterfront_properties.php), according to Lake Oswego REALTOR® David Somerville.

Somerville, who helps home buyers and sellers in the Portland metro area, which includes the upscale town of Lake Oswego, says lakefront and riverfront homes in Lake Oswego (http://www2.maxwellsinclair.com/idx/2370/results.php?stp=advanced&idxID=037&pt=sfr&showField=cityField&city[]=25171&lp=100000&srt=ASC&per=100&aw_WaterfrontDescription[]=Lake&aw_WaterfrontDescription[]=River) have traditionally held their value better in relation to other homes in large part because of the special attraction of living by water.

He says that while prices of waterfront property tend to be higher, they also tend to be more stable than prices of comparable properties that are not on the water.

"While there are always rational factors like price, size, and commute time that enter into a home purchase decision, a huge part of the decision is lifestyle related. Living by the water has an almost universal appeal that translates to higher demand."

According to Somerville, that extra bit of demand makes all the difference in the world when it comes time to put a dollar value on the property.

"Whether we're talking about a condo or a luxury home on Oswego Lake or a riverfront home on the Willamette, waterfront homes just tend to maintain their value."

Somerville says that waterfront condos in Lake Oswego are currently starting in the mid-$100,000 range, with single family homes starting in the mid $400,000s.

About David Somerville

David Somerville is an experienced, full time REALTOR® with an extensive knowledge of the Portland Oregon metro area (http://www.maxwellsinclair.com). His knowledge of neighborhoods and nearby suburbs proves valuable to Portland real estate buyers and sellers alike, whether they are looking for a home in one of the popular Downtown areas such as the Pearl District, or nearby towns such as Lake Oswego, Hillsboro, West Linn, Beaverton, Tigard, Oregon City, or Milwaukie.

Somerville's high level of customer service and expert negotiation skills is highly sought after by buyers, sellers, and real estate investors in the area. His website, www.maxwellsinclair.com, is a trusted resource for up to the minute listings, including single family homes, condos, short sales, and foreclosures/REOs.

David Somerville
Prudential Northwest Properties
5 Centerpointe Dr. Suite 150
Lake Oswego, OR 97035
503-789-7633
http://www.maxwellsinclair.com
dave@maxwellsinclair.com