Lake Oswego Housing Market Update

It has been about six weeks since my last Lake Oswego housing market update so I thought I’d fill you in on what I’m seeing on the ground these days.

There is a continuing calming down trend. The craziness of the last 18 months has gone out of the market taking with it buyers who were relying on “free money” (at 2.5%) to bid up prices.

In addition, the stock market ride has put caution in people’s paths as they try to sort out the impact all the commotion will have on their big picture.

As a result, buyers don’t quite know what to think and in many cases, neither do sellers. That’s why it’s more important than ever to be working with a Realtor who truly understands the local real estate market.

One thing I’m seeing is buyers who, because they’ve heard the market has slowed, think they can come in low and get their offers accepted. It reminds me of when my wife and I moved here from California and put our first offer on a house. Our California snobbiness had us thinking we could offer quite a bit below asking price because we hailed from a market much stronger than Oregon! After we lost the house to a higher bidder, we ate humble pie and came back with an offer over asking when the house came back on the market.

Despite the fact that the market has calmed down, inventory is still limited (1.9 months) and in Lake Oswego, 46% of properties sold for over the original asking price in July. Remember, anything under 6 months of inventory reflects a seller’s market; anything over 7 months indicates a buyer’s market. So buyers need to be going into offers with their eyes wide open and their egos left at the front door.

Another indicator is that the average sale-to-list ratio is 100%. Granted, this is slightly lower than it was in July of last year (at 102%) but it still reflects a solid market.  

Sixty-one homes sold in Lake Oswego in July of this year, compared to 97 last July which was a decrease of 37%. So the volume has slowed, a reflection of both limited inventory and fewer buyers in the market. But the things that are selling are holding value.

I like being your resource for information about the Lake Oswego housing market so please feel free to give me a call to discuss how current market conditions impact your plans to move in, out or around Lake Oswego. You can reach me at 503.939.9801, email me at kevin.costello@cascadehassonsir.com and/or check out my website. I look forward to hearing from you.

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Celebrate National Book Lovers Day With These “Lake Reads”

August 9 is National Book Lovers Day so I decided to create a “Lake Reads” list—Lake Oswego’s answer to all those “Best Beach Reads” lists you see going around. Take advantage of the lazy days of summer while we still have them and pick up one of these recommendations.

Every Summer After by Carley Fortune. This debut novel is one of this summer’s hottest reads and much of it is set on a lake—Kamaniskey Lake in Toronto, Canada. It chronicles the friends-to-lovers story of Persephone Fraser and Sam Florek as they bond over the course of six summers when Persephone’s family buys a cottage next door to Sam and returns every season…that is, until something tears them apart. They go ten years without seeing each other until a funeral brings Percy back to the lake and then the reader finds out whether or not they are given a second chance to forgive the mistakes of the past and reclaim the love they once felt for each other.

The Song of Achilles by Madeline Miller. This is a masterful retelling of Homer’s The Iliad filled with action, suspense, and as with any good summer read, love.

Pieces of Happiness by Anne Ostby. After many years apart, four friends in their sixties, receive a letter in the mail from their old adventurous high school friend Kat to come live with her on her cocoa farm in Fiji. “I’ve planted my feet on Fijian earth and I intend to stay here until the last sunset. Why don’t you join me? Leave behind everything that didn’t work out!” Each in different circumstances, they can’t resist the invitation and find themselves starting a chocolate business, strengthening their friendships and rewriting the next chapter of their lives.

The Judge’s List by John Grisham. True confession—I am a huge John Grisham fan and have a dedicated shelf in my bookcase to his novels. In fact, during Covid, I started re-reading many of them. I recently finished The Judge’s List, a legal thriller that follows Lacy Stoltz’s pursuit of a corrupt judge who also happens to be a serial killer. His is not a list you want to find yourself on so Stoltz has to tread carefully to make sure she doesn’t. Grisham once again does not disappoint.

I Will Teach You to Be Rich by Ramit Sethi. This may not sound like a lake read, but according to my youngest daughter, it’s a must-read. All my kids lament the fact that their education did not include one or two courses in personal finance and investing. This book provides that introduction with constructive suggestions for how to earn more and save more so you can live what you feel is a rich life.

Waiting at Hayden’s by Riley Costello. Named one of the best beach reads of 2019, since this book was written by a Lake Oswego author (my daughter), it qualifies to make our Lake Reads list as well. This is a love story that follows one couple who meet and fall in love before they are ready to settle down and a woman who is ready to settle down but hasn’t met the love of her life. There are twists, comic relief, and insight into today’s dating world. I’d loan you my copy but the pages are worn so I advise you to buy your own copy and support a local author!

COMING ATTRACTIONS. Riley (who is also a Realtor working with me here in Lake Oswego) will be releasing her next book, Waiting for December, in September. Watch for details here and be sure to follow her Amazon author page to be notified when it comes out.  

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6 Things We Love About Lake Oswego in August

  • NATIONAL NIGHT OUT in your neighborhood. The City of Lake Oswego encourages residents to participate in the spirit of National Night Out by organizing block parties to get to know your neighbors on Tuesday, August 2. Register online and/or by calling Bonnie Hirshberger at 503.675.3992.
  • STORYWALK® in West Waluga Park. This innovative program enables kids and adults to enjoy reading and the outdoors at the same time. Pages of the book, Daniel Finds a Poem, will be displayed in order as you explore the park and follow Daniel along as he explores a park looking for poetry and discovering that poems are everywhere and in everyone. StoryWalk® will be on display throughout the month of August in West Waluga Park, 15775 Waluga Drive. For more information, call the library’s children’s desk: 503.697.6580.
  • HOT AUGUST NIGHT returns this year with the Famous Players Band known for its high-energy performances featuring four lead singers and hits from a wide range of genres including Abba, Neil Diamond, Journey and LMFAO. Typically the concert takes place at the East end of the lake with boaters dropping anchor and making it one big party. August 6, beginning at 6:30 p.m.
  • MASQUE ALFRESCO presents Winnie the Pooh and Lao-Tsu Too, a musical mash-up of Winnie the Pooh books and Chinese Taoist folktales. These free family-friendly outdoor theatre productions take place in George Rogers Park Memorial Garden (next to the Iron Foundry) on Fridays, Saturdays and Sundays from August 5 through August 21 at 7:00 p.m.
  • COLLECTOR CAR AND CLASSIC BOAT SHOW. The Oswego Heritage Council presents its annual two-for-one event where attendees can ooh and ahh over cars from bygone years at George Rogers Park and beautiful and rare classic boats docked up at Sundeleaf Plaza. August 28 from 9:00 a.m. to 3:00 p.m. The Lions Club will be serving up breakfast at George Rogers Park starting at 7:30 a.m. followed by lunch at 11:00 a.m.
  • BURGERS IN THE BREEZEWAY.  Zupan’s brings back its popular Burgers in the Breezeway every Thursday in August, gourmet toppings, french fries + weekly burger specials like PBJ and Bacon, Guacamole, Blue Cheese and Hatch Chile. Lunch is served from 11:00 a.m. to 2:00 p.m. and dinner from 4:00 p.m. to 7:00 p.m, 16380 Boones Ferry Rd.

August is also a great time to buy a home in Lake Oswego and I’m happy to help if you’re in the market. I’ve been a Realtor in Lake Oswego for over 30 years and would love to put my experience to work for you. Give me a call at 503.939.9801 or email me at kevin.costello@cascadehassonsir.com.

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Celebrate National Ice Cream Month at One of These Popular Ice Creameries in Lake Oswego and Portland

It seems only fitting that July is National Ice Cream Month because it also happens to be the month that Salt & Straw carries my son’s favorite flavor (read on). So, in honor of that coincidence, I thought I’d provide you with a roundup of where to satisfy your ice cream cravings in and around Lake Oswego.

SALT & STRAW. I remember when the only storefront Salt n’ Straw had in Lake Oswego was a push cart parked at the corner of First and Evergreen. Now it’s one of the anchors of Lake View Village with lines out the door on warm summer evenings. What’s my son’s favorite flavor that happens to appear in every July Special Flavor lineup just in time for his July birthday? Birthday Cake and Blackberries. He usually loads up enough pints to last him for several months so consider it highly recommended. I also recommend ordering the ice cream flight—kid-size scoops of four different flavors with four waffle chips—especially if you have visitors in town. It’s a fun way to let everyone decide their favorite! And currently, there’s a buy 2 get the third one free special through July 31. 100 A Avenue, 503. 305.8267.

LAKE OSWEGO ICE CREAMERY. If you’re more of a traditionalist when it comes to ice cream and aren’t looking for flowers or bugs in your treat, then Lake Oswego Ice Creamery might be more your spot. Here you’ll find flavors like marionberry pie, moose tracks and yes, bubble gum. The milkshakes are the real deal too. 37 A Avenue 503.636.4933.

PORTLAND

GRACIE’S APIZZA. Yup, you read that right. A pizza joint that makes good enough ice cream that it makes the list. Fortunately, two of the owner’s favorite things happen to be two of mine too…and probably yours. This one-man operation is a popular place so online orders need to be placed early for the close to 70 pizzas he makes a night, but you can pick out your ice cream when you get there. Gracie’s shares some of Salt & Straw’s adventurous spirit with flavors like Bay Leaf, Malted White Truffle and Honey Ice Cream with Tehina Swirl.  8737 N. Lombard St., 971.512.0087.

RIPE COOPERATIVE. Usually when coffee shops also specialize in something else, my wife steers away from them, thinking that if they’re serious about their coffee, then that should be their focus. Apparently, her theory doesn’t hold true when it comes to restaurants that also make ice cream. This small café/market has a full menu for lunch and dinner but also features frozen custard on its dessert menu (you can also purchase it by the pint in the market). What’s the difference between frozen custard and ice cream? Frozen custard apparently has egg yolks added and less air incorporated which explains the extra creamy texture and silky smoothness. Flavors make it hard to choose and include: Fudgesicle, Cinnamon-Caramel Blondies and Hot Fudge Sundae. 5425 NE 30th Avenue, 503.841.6968.

FIFTY LICKS. If you’re a chocolate fan like myself, you need to try owner Chad Draizin’s Chocolate AF – a rich, and I mean rich dark chocolate ice cream made all that much richer with chunks of homemade chocolate ganache. And while you’re there wondering how you can convince Draizin to open up a location in Lake Oswego, you might as well try the French Toast, maple cinnamon ice cream with Grand Central brioche French toast chunks and a ribbon of dark maple syrup or Cornbread Honey Butter, a cult favorite with freshly baked cornbread chunks and a generous drizzle of honey butter. 2021 SE Clinton St., 954.294.8868.

KULFI. If you prefer your creaminess on a stick, Kulfi is your place. Named after a popular frozen dessert in South Asia, Kulfi is made by slowly simmering milk on the stove until it thickens, which results in a denser and creamier texture than ice cream. The owners then get creative with their flavors and add in ingredients like chocolate chip cookies from Hungry Heart Bakery, baklava, marionberries, and blue spirulina. The Mango Lassi, a mango and yogurt combo, is their most popular flavor. 5009 NE 15th Avenue, 503.249.3565.

KATE’S ICE CREAM. This is an equal opportunity ice cream shop scooping up plant-based and gluten-free flavors that ensures no one leaves feeling deprived—you can even get all that deliciousness in a plant-based, gluten-free cone! Now the dietary-challenged among you can enjoy flavors that are usually taboo like Funfetti Cake, Triple Chocolate Brownie and Mississippi Mayhem—cotton candy ice cream with rotating baked goods like brownies, cookies, oreos and sprinkles. 3713 N. Mississippi Avenue, 213. 545.1730.

WHAT’S THE SCOOP? Flavors here change constantly so best to call in to see what’s on the daily menu. But judging by their repertoire, odds are something will be calling your name like Cereal and Milk, Cobblers, Maple Jack Bacon Brittle, Peanut Butter S’mores or Spiced Chocolate Tequila (yes, liquor is one of the not-so-secret ingredients to some of their flavors). 3540 N. Williams Avenue, 971.266.1787.

NICO’S ICE CREAM. Fruit lovers, search no further. Inspired by New Zealand ice cream, Nico Vergara bought a blending machine called the Little Jem that swirls fruits (marionberry, raspberry, strawberry, blueberry) into vanilla ice cream, adds toppings and serves up these soft-serves in a cone, cup or waffle cone. Rotating specials are available in the store. 5713 NE Fremont Street, 503.489.8656.

PINOLO GELATERIA. Fortunately Pisa-born native Sandro Paolini relocated to Portland where he opened his own gelateria with the goal of giving Portlanders a true taste of this Italian treat. Year-round flavors include Cioccolato, Fior di Latte and Stracciatella while rotating flavors include Almond Fig, Cassata and Torrone. Dairy-free sorbetti flavors will also tempt you like the Lemon Basil. 3707 SE Division Street, 503.719.8686.

22 BELOW. Forget about scooping ice cream. At 22 Below they roll it and right before your eyes so you see your ice cream literally taking shape! Flavors run the gamut from more traditional like Parkers Lemonade to adventurous like Ice Cream Breakfast and Flaming Hot Cheetos. 16200 SW Pacific Highway, Tigard, 971.347.4035 and 615 SW 19th Avenue, Portland, 503.509.6434.

CLOUD CITY. You should definitely hit this spot during your birthday month as they feature Horoscope flavors that combine elements research suggests people are attracted to based on their sign. There are lots of other reasons to visit Cloud City as well like Totes Ma’Gotes, a chevre-based ice cream with house-made lemon curd swirls and Sasquatch Tracks with fudge ripple, peanut butter cups and dark chocolate shavings. 4525 SE Woodstock Blvd., 971.222.7765.

AFFOGATO. This is a two-for-one deal for you coffee and ice cream lovers out there. This place makes their own ice cream and roasts their own coffee. Put the two together and you get….an affogato! The combination is a direct ticket to happiness. 8712 N. Lombard, 503.991.4200.

MORE AFFOGATO. You can also try an affogato at Pinolo Gelateria.

Do you have a favorite you’d like to add? Please share it with my readers.

Besides chocolate, I also love helping clients buy or sell their homes so if you’re in the market to do either, please give me a call at 503.939.9801, email me at kevin.costello@cascadehassonsir.com and/or check out my website. I’ve been eating chocolate my entire life and only selling homes for the last 30+ but I consider myself an expert in both and would love to put my knowledge to work for you!.

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Add Instant Curb Appeal to Your Home With Window Boxes

Looking for a quick way to add curb appeal to your home? Consider a window box. Whether you fill it with lush greens or use it to add a pop of color to your home, you’ll get a lot of mileage and enjoyment out of this simple addition to your home’s exterior.

I speak from experience as my wife and I have four window boxes and reap months of enjoyment from them as they “thrill and spill” all summer long. And one of the things we love most about visiting Charleston, South Carolina, is getting inspiration from the Instagram-worthy window boxes that they are known for.

So, we went to a local expert to get some inspiration for planting window boxes in Lake Oswego. Beverly Ashenden is a landscape designer and owner of Ashenden Garden Design and helps clients with everything from designing their entire yard to individual flower beds.

First, she has some general guidelines for designing the layout of this small piece of real estate that can have such a big impact.

Start with a theme. Do you want cool colors or hot? Maybe you prefer a variety of greens that dazzle with their texture. Is there a thriller plant that you absolutely love and want to build the rest of your arrangement around? And to make your window box work year-round, consider seasonal themes like autumn with the addition of items like pumpkins or ornaments to a winter box.  

Give your plants the conditions they need to succeed–that includes the proper sunlight or shade exposure. “Shade tolerant plants need to be in a shady location for good performance,” Ashenden emphasizes. Another make-or-break condition is proper drainage. Most window boxes will have drain holes in the bottom, but if not, be sure to add. For pots, Ashenden usually creates little mounds around the drain holes with pebbles or broken terra cotta pieces to prevent the dirt from plugging the holes, but that isn’t usually a problem in window boxes. And then fertilize throughout the season for good color production.

Divide your plant selection into thrillers (which go in the back), fillers (in the middle) and spillers (that will drape along the sides). When choosing thrillers, consider their ultimate height and whether or not they will be blocking any of your window view.

Use the color wheel to ensure color combinations that complement, not compete with each other. “You don’t want two colors competing with one another,” Ashenden explains. “You’re going to lose the effect of each of those colors if they do.” A simple fix is to separate them by a neutral gray or green that “settles your eye,” as Ashenden puts it.

Keep it simple. In addition to choosing a theme, Ashenden recommends picking 2-3 colors and repeating them throughout. “You can make something interesting without it being too busy,” she points out.

Consider perennials. Ashenden is a big fan of starting out with small perennials in confined spaces like window boxes and then rotating them out to bigger pots or your yard when they get too big. It’s a more economical way to go in the long run, and fortunately in the Pacific Northwest, there are lots of perennials to choose from.  

Consider herbs or lettuce for one of your greens. This is an especially good choice for window boxes next to the kitchen, making it convenient when you want to go out and harvest them. In addition to adding that calm, neutral palette to your arrangement, herbs and lettuce provide interesting texture too.  

Here are some flowers/plants to consider that perform well in the Pacific Northwest:

SHADE

Hostas. This is a perennial filler that adds a lot of texture with an interesting leaf structure. Some varieties also produce flowers.

Bergenia. Another perennial filler, this one provides good texture and small varieties like the Ruby Elf also produce flower clusters atop their stems.

Beesia. This perennial with its heart-shaped leaves is a good substitute for ivy.

Begonia. These annuals are one of Ashenden’s favorites because of their variety, their performance in the shade and their leaf structure. In most cases these would be fillers; however, some varieties are tall enough to take the thriller spot.

Fuschia. These popular Pacific Northwest plants can thrill or spill depending on the variety you pick.  

Hydrangea. My wife will look for any excuse to plant a hydrangea as she believes you can never have too many of them. They have been the thrillers in our deck window box the past two summers and performed well. The colors tended to fade over the summer, almost looking like a dried flower but they were still beautiful as far as my wife was concerned. Different varieties are sun/shade tolerant. Our deck gets morning sun which seemed to suit them just fine.

Ferns. Here’s another plant that comes in a variety of colors and textures, sure to claim the thriller spot in your arrangement. The Japanese painted fern, for example, with its blue-green fronds provides a dramatic statement as a background for the rest of the plants.   

Huechera/Coral bells. This perennial is mostly grown for its leaf structure but also produces a sweet flower as well. It is a great plant to base your arrangement around. A filler, it will do well in both shade and sun

Impatiens. This annual is one of our family’s favorites both for the beautiful color choices as well as the mileage you can get out of them, blooming from late spring through early fall.

Euomymus. This is a large perennial family but Ashenden has one variety to recommend to make your search easier – the Wulong’s Ghost has a sweet variegated leaf that creates a striking spiller effect.  

Lamium. This fast-growing plant is a starring spiller in many of the Costello window boxes. The variegated leaves are interesting in themselves but they also produce small flower clusters throughout the summer. It will tolerate some sun.

Creeping Wire Vine. Though considered an alternative ground cover, the creeping wire vine is also a good choice for window boxes as a spiller for its great draping qualities.

String of Pearls. While this spiller is a little on the tender side for our zone, it’s a fun one to play with because of its appearance as a bunch of peas strung together.

Caladium. If you want to add a tropical look to your arrangement, this Caladium might be a good choice for a thriller or filler, particularly the sweet variegated leaf of the Heart to Heart Chinook variety.

SUN

Boxwood. The versatile boxwood, if kept small enough, is a good foundation plant in the thriller spot of your window box that will perform well in both sun and shade.  

Lemon Cyprus. These chartreuse green shrubs (or trees) luckily come in two window box sizes—smaller and smaller. At one point they may get too big for the space but they are a fun and colorful addition to start with PLUS they give you a lemony scent when you touch their leaves.  

Geranium. These are the workhorses of many window boxes providing both filler and spiller functions, depending on the variety.

Lantana. Depending on the variety, these can be either a filler or spiller with the deep green leaves providing a rich backdrop to colorful verbena-like flowers.

Petunias. Along with geraniums, petunias are also hardworking choices of many window box planters. Color choices abound and they don’t require much deadheading. One word of warning—the spillers can become leggy as the summer wears on.

Bacopa. This trailing annual is one of our favorite spillers that thrives in sunny to partly sunny conditions. It comes in shades of white, pink, lavender, blue and coral red and blooms from May through October.

Marguerite Ipomoea/Sweet Potato Vine. This is another favorite spiller of ours in our sunny window boxes. The bright chartreuse foliage is a show stopper and performs all summer long.

Got more gardening questions? You can reach Beverly Ashenden through her LinkedIn page or Instagram account.

Got more real estate questions? You can reach me at 503.939.9801, email me at kevin.costello@cascadehassonsir.com and/or check out my website.

If you feel about hydrangeas like my wife does, then visit her Etsy shop where you can purchase this wall print.
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Answers to Questions About Lake Oswego Housing Market Right Now

Here are a few of the most common questions I’m being asked right now about the Lake Oswego real estate market.

Question: Should I buy right now?

Answer: It depends. Interest rates have gone up from where they were a year ago (although they dropped just this last week) which means that your mortgage payment will be higher each month than what it would have been. However, the market is correcting itself somewhat so we are seeing some homes selling closer to the listing price than a year ago. So while your mortgage rate may be higher, the loan amount may be lower because you haven’t had to bid $100,000 over asking to get the deal.

Another thing to consider is that somewhere down the road, when interest rates come down again, you could refinance. The rate you lock in today doesn’t have to be your forever rate. Depending on your situation and your comfort level with that type of scenario, you may want to move forward.

One thing that’s probably NOT going to happen is a housing market crash like back in 2008. What’s fueling the current situation is basically supply and demand. Higher interest rates may push some folks out of the market, lessening the demand. As Robert Dietz, chief economist at the National Association of Home Builders explains, “I think you want to be strategic and you want to be patient…Patient is different from waiting for a crash.”

And of course if you’re a cash buyer, cash still speaks volumes and puts you in a strong negotiating position with fewer buyers driving up the prices right now so this could be your moment.

Question: Should I put my house on the market right now?

Answer: It depends. It depends on how motivated you are to sell and move on. As I mentioned, the market is correcting itself which means it’s not last year’s seller’s market but homes are still selling. In Lake Oswego in June, 62 homes sold with a median five days on the market and a sale-to-list price ratio of 101% with 50% of Lake Oswego homes selling over the original asking price. Inventory favors sellers in the under $2.2 million and over $3.7 million price ranges. There still is a limited supply which buoys value. If you stand on the sidelines and wait for things to heat up again, you could run the risk of adopting a popular strategy which means there could be more competition for buyers when you do decide to wade in.

If you do decide to sell now, it’s important to work with a Realtor who knows the local market so you are going in with realistic expectations and a list price that reflects current value, not necessarily the inflated values driven up by the bidding wars of the last couple of years.

And if you are planning to buy something else, the market adjustment could work in your favor on the buying side of things.

Question: Should I rent instead of buying right now?

Answer: Not if you think you’re doing it to avoid bidding wars. Major news outlets like The Wall Street Journal and NPR report bidding wars taking place now in the rental market. Again, it’s a supply and demand issue as well as some landlords trying to make up for the frozen rent they sustained during Covid.

But if you are currently renting at a price you can comfortably afford, then employ that patient strategy I mentioned earlier. You can start working with a Realtor to better understand the market and appreciate when a house looks like a good investment.

Here’s another thing to just file away in your “things to consider” homebuying/selling file. I recently showed a house to a woman who is moving up here from San Luis Obispo because…of the increasing drought situation in California. That could be a factor that plays into more Californians migrating north to the Portland metro area. If that’s the case, that will be another force driving demand. From where I sit, I don’t see demand going away. So the good news is, whether you look to be a buyer or a seller, the Lake Oswego housing market is strong and will continue to stay that way.

Have a question you’d like me to answer for you? Leave a comment here, give me a call at 503.939.9801 or email me at kevin.costello@cascadehassonsir.com. I’m more than happy to sit down with you and answer any questions you may have.

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6 Reasons We Love Lake Oswego in July

Luckily the days are long in July in Lake Oswego because there is so much sunshine to soak up and things to do. Here are a few of the reasons to look forward to July in Lake Oswego.

LAKE OSWEGO SWIM PARK. Open to all Lake Oswego residents, the Lake Oswego Swim Park opens July 1 and is open from 1:00 p.m. to 6:00 p.m. daily, weather permitting through August 28. Certified lifeguards are on duty at all times and the park features diving platforms, inner tubes, outdoor showers and lounge chairs. Proof of residency is required and ages under 12 must be accompanied by someone 16 years or older. 250 Ridgeway Road, 503.953.9325 (during park hours).

4th OF JULY FESTIVITIES. Lake Oswego is small-town living at its best on the 4th. From sunrise to sunset, there are all kinds of ways to celebrate the holiday. Be sure to check out last week’s blog for a complete rundown of events.

ROVER. The Lake Oswego Public introduces ROVER, a mobile pop-up library this month. What does ROVER stand for? Roaming Off-site Venue Engaging Readers, and it’s an 8-week pilot project designed to help meet patron’s library needs on-the-go, kind of a “park it and they will come” approach. Patrons can browse and check out popular books for all ages, get reading recommendations from librarians, pick up take-and-make crafts (while supplies last) and learn about the library’s digital resources. Starting on Wednesday, July 6 and continuing through August 27, ROVER will be at the Lakeridge Middle School on Wednesdays from 4:00 p.m. to 7:00 p.m. and Westlake Park on Saturdays from 10:00 a.m. to 1:00 p.m.

SUMMER OF MUSIC. Lake Oswego’s popular summer concert series kicks off in July.

DateBandGenre
July 6Soul VaccinationFunk & Soul
July 10Norman SylvesterBlues
July 13Nate BotsfordCountry Rock
July 20Eagle EyesEagles Tribute Band
July 24 Todd HaabyNuevo Flamenco
July 27Red Light Romeos 70s Sounds
August 3KalimbaRhythm & Blues/Soul
August 7Aaron Meyer TrioConcert Rock Violin
August 10Precious ByrdFunky Rock n’ Roll
August 17Shades of HueyHuey Lewis Tribute Band
August 21MbrascatuModern Indie
August 24Hit MachineCover Band – hits from 5 decades

MOVIES IN THE PARK. Darkness, camera, action! That’s the City of Lake Oswego’s cue that its summer Movies in the Park are ready to roll on the big screen at Millennium Plaza Park at First and Evergreen and finish up at Westlake Park,14165 Bunick Drive. Round up the family for what has turned out to be a popular Lake Oswego summer tradition. Armed with blankets, pillows and low sand chairs you can enjoy a night of free entertainment. Popcorn and other treats are available for purchase.

Here’s the schedule:
Thursday, July 21 Luca (MPP)
Thursday, Jul 28 Space Jam, A New Legacy (MPP)
Thursday, August 4 Sing 2 (WLP)

FLORAL DESIGN CLASS AT ZUPAN’S. July’s creation is a vibrant floral crown and matching floral tattoo. Plus, enjoy wine, cheese and charcuterie during the class. After months of virtual classes, this one will be held in the breezeway. Class is limited to eight guests. The $125 fee includes all materials and cheese and charcuterie plate. 16380 Boones Ferry Rd.

Don’t miss a reason to love Lake Oswego! Subscribe to my blog by clicking the “Sign me up” button in the top right hand column.

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Here’s Why You Don’t Want to Leave Lake Oswego in July

If you read my blog regularly, you know at least 52 reasons to be in Lake Oswego 365 days a year, let alone in July.

BUT

Come July, the evidence is even more convincing, led by the #1 reason which is….

FOURTH OF JULY FESTIVITIES

Lake Oswego is a small town that thinks big and nowhere is that more apparent than in the lineup of things to do on Independence Day (and leading up to it). Here’s what you have to look forward to:

SKI AND WAKEBOARD EXTRAVAGANZA. Grab a viewing spot of the action in Lakewood Bay at Sundeleaf Plaza, Stickmen’s Brewery & Skewery, the Lake Theatre and Café, or Millennium Plaza Park on Sunday, July 3 beginning at 10:00 a.m. (ski show) and 1:00 p.m. (wakeboard) in Lakewood Bay. Stick around for the Portland Water Spectacular Ski Show at 5:00 p.m. as a team of skiers performs tricks, barefoot skiing, jumps and skiing pyramids.

MILLENNIUM CONCERT BAND. Get in the flag-waving mood with your patriotic favorites on Sunday, July 3, beginning at 7:00 p.m. at Millennium Plaza Park. 200 First Street.

LIONS CLUB PANCAKE BREAKFAST. This is the one time of the year my wife eats pancakes so they must be good (and hers are gluten-free)! Early birds make sure they get the marionberry syrup. It’s all you can eat of pancakes, sausage, coffee, orange juice or milk. George Rogers Park, 611 S. State Street. Monday, July 4 from 8:00 a.m. to 11:00 a.m.(or until they run out of food, whichever comes first). $10/Adults; $7/Kids under the age of 12. All proceeds go towards supporting the Lions Club’s charitable efforts throughout the year.

STAR-SPANGLED PARADE. What kid doesn’t love a parade? Apparently, none in Lake Oswego as it seems every child under the age of 10 is either walking down A Avenue or cheering those on who are. The parade begins at 10:00 a.m. and finishes at Millennium Plaza Park with a Star-Spangled Celebration complete with face painting, music, food trucks, and a pie-eating contest at 12:00 noon. Things wrap up at 1:30. Registration is required to participate in the parade.

INDEPENDENCE DAY ILLUMINATION: A CONCERT AND LASER LIGHT SHOW. An epic start—the pancake breakfast—deserves an epic end, which the City of Lake Oswego delivers at Foothills Park with a concert from Oncore, a high energy dance band at 8:00 p.m. and a laser light show starting around 10:00 p.m. Enjoy it all with family and friends by reserving your spot with blankets, pillow and low sand chairs.

FIREWORKS ON THE LAKE. The show begins around 9:45 p.m. on the west end of Oswego Lake so best to be at the Lake Grove Swim Park, on the Oswego Canal bridge, in a boat on the lake, or at a lakefront party if you can get an invite.

Lake Oswego has a lot more going for it than just its 4th of July celebrations. If you’re thinking about moving here, let me show you around and explain our local housing market. I’ve been a Realtor® in Lake Oswego for over 30 years and would love to put that experience to work for you in finding you a home (or helping you sell one if you already live here and want to move up, down, or on). Give me a call at 503.939.9801 and/or check out my website.

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Why There Is No Better Place To Be Than Lake Oswego in the Summer

It’s almost officially summer and if you find yourself in Lake Oswego, consider yourself lucky. Why? Let me give you a few reasons.

THE BEST IS YET TO COME. If you lived in southern California, you’d be experiencing “June Gloom,” following “May Gray,” and sometimes followed by “No-Sky July” and “Fogust.” Despite what all the brochures say, southern California beaches are not always sunny. My daughters lived down there for a period of time and I never understood why vacationers flocked to the area during these months when good weather was less bankable than during other months. So no need to “wish” you were in sunny California because you’re lucky enough to be in Lake Oswego where the worst of our gloomy days are behind us and sunny days ahead. Having lived through Portland’s wettest spring in 81 years, I know you may be doubting me right now, but have faith.

NO HUMIDITY. New Orleans has a lot going for it, but if you find yourself there in June, prepare to sweat.  The chance that a given day will be muggy in New Orleans increases during June, rising from 75% to 95% over the course of the month. In contrast, Weatherspark gives Lake Oswego a 0% chance of being humid in June.  

BUG-FREE. South Carolina’s summer weather is a lure for humans seeking sand and sun, but it also attracts creepy crawlers like ants, spiders, cockroaches, lovebugs and mosquitoes who really thrive there. Hence, the screened-in porches you’ll see that enable South Carolinians to enjoy their summer nights without the summer bugs. No need for that here in Lake Oswego. For the most part, we can enjoy our summer nights bug-free.

OCCASIONAL (NOT DAILY) STORM. Florida may have beaches and sunshine but it also has almost daily summer storms and is considered the lightning capital of the United States. Here in Lake Oswego, we may get the occasional thunderstorm in the summer, but it’s not something you have to factor into your summer plans.

NO CROWDS. New York City is always crowded, but summer crowds beginning in June take it to a new level. If you like smelling other people’s armpits in a crowded subway, be my guest. But if you prefer your summer days to be more relaxed and filled with natural beauty instead of tourist sites, then consider yourself lucky to be in Lake Oswego.

So see?! No need to wish you were anyplace else than Lake Oswego in the summer.

I’m here if you need me to show you around, discuss the Lake Oswego housing market, or meet with you to provide a complimentary market analysis. Give me a call at 503.939.9801 or email me at kevin.costello@cascadehassonsir.com. Enjoy your summer!

Posted in buying a home in Lake Oswego Oregon, Lake Oswego lifestyle, Summer in Lake Oswego | Tagged , , | Leave a comment

Lake Oswego Real Estate Market Update June 2022

While the HOT housing market may be cooling down a bit, I am still seeing quite a bit of activity in Lake Oswego. I’m also seeing a move towards normalizing the market which as I’ve said all along, I think is a good thing in the long run.

Here are some of the subtler shifts I’m spotting that indicate we are in a different market than we were a year ago. Of course, you’ve all read about how higher interest rates are taking the steam out of the market but I’m talking about shifts that don’t make the headlines.

Like price drops. For instance, a 4-bedroom 3-bath home in the Palisades Terrace neighborhood dropped its list price by $255,000 after 30 days on the market and no sale. A 4-bedroom 2.5 bath home in Mountain Park lowered its list price from $920,000 to $879,000, a drop of $41,000 after 27 days. After 29 days on the market, a 5-bedroom 4.5 bath home in the coveted First Addition neighborhood is listed at $2,998,000–$197,000 lower than its original listing price.

Like bidding wars. I’m not seeing the mad frenzy that had 10-20 buyers all vying for the same property and trying to outdo themselves with offering thousands over asking and waiving inspections. Instead, buyers are often accepting the first and what they assume is the best offer. Or buyers are finding themselves competing with two or three other buyers instead of an entire posse.

Like increased inventory. According to real-estate and economics writer, Bill McBride, an increase in inventory is the bellwether signaling a market shift in today’s market because, as he states in a recent article in The Atlantic, “…as inventory increases, house-price growth will slow.” Last year we often saw the month of inventory, meaning how long the current supply of homes on the market would last if no new listings were added, often register below one month. In May, the MOI for Lake Oswego detached homes was 1.5. While we are still months away from what’s considered a “healthy” supply—six months—at least we are headed in the right direction.

Like appreciation. Don’t get me wrong, home values are still going up in Lake Oswego. But the annual change in 2021 was a 24.3% increase. At the end of May, the appreciation stood at 11.4%. To give you some perspective, I’ve tracked the appreciation rate in Lake Oswego over the past ten years. Take a look:

YEARAverage Real Estate Sold ValueAnnual Percentage Change
2022 (Year to date)$1,365,43711.4%
2021$1,225,38224.3%
2020$986,1909.0%
2019$905,0013.4%
2018$875,0863.1%
2017$848,7404.1%
2016$815,47416.4%
2015$700,7188.1%
2014$648,1609.5%
2013$591,8367.6%
2012$549,8042.2%

I like being your resource for information about the Lake Oswego housing market so please feel free to give me a call to discuss how current market conditions impact your plans to move in, out or around Lake Oswego. You can reach me at 503.939.9801, email me at kevin.costello@cascadehassonsir.com and/or check out my website. I look forward to hearing from you.

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