6 factors that could impact the Lake Oswego housing market in the next year

  1. Mortgage rates. We are probably looking at higher-than-we’ve-seen-recently mortgage rates for the next three quarters. Looking at the combined average projections of the big four forecasters (Freddie Mac, Fannie Mae, Mortgage Brokers Association and National Association of Realtors) we can expect a rate of 5.4 in the fourth quarter of 2022, followed by 5.3 in the first quarter of 2023, 5.2 in the second quarter and 4.8 in the third. Many Lake Oswego home buyers are cash buyers so they will certainly retain bargaining power and may find themselves with less competition in the short term. Mortgage rates can vary depending on the lender so it’s more important than ever to shop around. A good place to start is with getting a recommendation from your Realtor.
  2. Buyers are being more cautious. The tales of buyers waiving all contingencies or offering to name their firstborn child after the seller (yes, someone in Maryland tried that tactic but it didn’t work) are history. Instead, we are seeing a higher rate of sale fails as buyers walk away after inspections that raise issues or just because a bad case of buyer’s remorse seems to be going around. And we are seeing price drops. Sellers need to take this into consideration when putting their homes on the market in several ways. One, is to do all they can beforehand to bulletproof the transaction including addressing issues that might come up in the inspection BEFORE the inspection. Sellers want to remove any obstacles that might give buyers pause. Another is to listen to their Realtor when he or she suggests pricing their home based on the LISTED price of comparable homes, not the SOLD prices which were inflated by the frenzy that was fueling the market months ago.
  3. Rent increases. Landlords with units 15 years and older can raise their rents by as much as 14.6% starting in 2023.  This is quite a jump from the 9.9% increase allowed in 2022. Given that kind of inflation, mortgage rates in the five’s might seem more attractive, bringing more renters into the market than we are seeing today.
  4. Oregon Household Formation Boomed During the Pandemic According to the Oregon Office of Economic Analysis, Oregon added a net 28,500 housing units between 2019 to 2021. But during that same time period, the number of households in the state increased by 53,200, meaning household formation outpaced net new construction by nearly 25,000 units. That is one of the factors contributing to the tight housing market and until that imbalance is corrected, could keep supply lower than demand.
  5. Millennials have overtaken Baby Boomers as the largest living adult generation. And, for a variety of reasons, they are arriving at many of life’s transitions later in life from marriage to homebuying. But once they do, since they represent almost a 20% larger demographic than baby boomers, it stands to reason that their entry and movement within the housing market will keep demand high.
  6. Lake Oswego’s desirability continues. Some things don’t change. And the fact that Lake Oswego is deemed such a desirable place to live remains a constant and continues to keep home values stable. In August to-date, 41% of the homes sold, sold over the original asking price and the median sale price still reflected a 12% increase over the median sale price a year ago. Inventory is still low at 0.9 compared to 1.9 just a month ago. The total number of homes sold in Lake Oswego year-to-date is 27% lower than the same time last year which reflects both the limited supply and the more cautious approach buyers are taking to the process. 

Another thing that doesn’t change in the Lake Oswego housing market is my desire to help you make your next move your best one. Along with my daughter, Riley, we are here to help you navigate today’s market and put our expertise, hyperlocal knowledge and energy to work to ensure you come out ahead whether you’re a buyer or a seller. Get in touch today and get your questions answered! 503.939.9801; kevin.costello@cascadehassonsir.com.

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5 Things We Love About Lake Oswego in October

WINE WALK. After a Covid-sponsored hiatus, Lake Oswego’s Wine Walk returns this year on Saturday, October 1 from 2:00 p.m. to 5:00 p.m. The $60 ticket gets you 12 one-ounce pours being served up at up to 40 locations in downtown Lake Oswego. It’s a great excuse to try some new wines and visit some Lake Oswego businesses! Get all the details by clicking on the link below and buy your tickets here.

LAKE GROVE FARMERS’ MARKET.  After making its debut appearance in the spring of 2021, the Lake Grove Farmers’ Market is returning by popular demand this fall. Starting on Sunday, October 2, the market will be open for business every other Sunday from 11:00 a.m. to 3:00 p.m. through November 27. On a smaller scale than the summer market, this food-focused venue will feature 25-30 vendors. And it’s right next to Mercato Grove so plan on having lunch at one of the local restaurants while you’re at it! Hallmark Drive.

HARVEST DASH. Enjoy a 5K trail run on natural terrain at Luscher Farm and celebrate your feat/feet with a barn bash after party. Pre-register to get the best deal: $20 participation fee for residents/$25 non-residents. Day of registration is $25 for residents; $37.50 for non-residents. You can pre-register online for the heat that best fits your athleticism. October 22 from 10:00 a.m. to 12:00 p.m. 125 Rosemont Road. Road.  

DUAL POETRY BOOK LAUNCH. Join two esteemed poets, Emmett Wheatfall and John Sibley Williams, on Wednesday, October 26 at 5:30 p.m. as they both celebrate the launch of their poetry books. These guys have the credentials to earn our literary respect, earning awards for their previous works. Lake Oswego Public Library, 706 Fourth Street.

MONSTER MASH SPOOKTACULAR. Bring your costumed little ones to Christ Church Parish for an afternoon of frightful fun as they walk through the trick-or-treat streets to collect candy, toys and trinkets at every station. Spooky tunes and ghoulish crafts add to the fun. Sponsored by the Lake Oswego Parks and Recreation Department. Monday, October 31 from 3:00 p.m. to 6:00 p.m., 1060 Chandler Road.

Don’t miss a single reason to love Lake Oswego! Subscribe to my blog by clicking the “Sign me up” button in the top right-hand column. And if you have any questions about moving to Lake Oswego or buying a home in Lake Oswego, give me a call at 503.939.9801 and/or email me at kevin.costello@cascadehassonsir.com.

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10 Things We Love About Lake Oswego in September

THE WEATHER. My wife and I have always insisted that the school schedule in Lake Oswego should run from October 1 through June 30 because the weather in September is not to be missed and sometimes our summer takes a little time to warm up on the other end. So whatever your schedule is in September, be sure to make the most of any opportunity you have to be outdoors. The sometimes harsh sun of July and August gives way to more soothing sunshine that just invites you to settle into a comfortable seat and finish some of the “lake reads” you haven’t gotten a chance to dig into yet.

ART DECKED OUT. The Lakewood Theatre is celebrating its 70-year history with a special event this evening, Sunday, September 11 from 5:30 p.m. to 7:30 p.m. on the Lakewood Center deck. Andrew Edwards and Steve Knox will open the evening sharing some of the highlights of their experiences followed by a short program of music and comedy with Lake Oswego actress and singer Joan Freed called “The Perils and Passions of Live Theater: 70 Years at Lakewood.” The event is free but tickets are required.

LAKE OSWEGO TEEN LOUNGE OPEN HOUSE. Here’s the perfect opportunity for your sixth through twelfth grader to check out all the Teen Lounge has to offer. All through the month of September, teens can attend clubs, events and classes for free. After September 30, students will be required to purchase a membership or pay a drop-in fee for activities. Regular hours are Monday through Friday, 3:30 p.m. to 7:30 p.m. Christ Church Parish, 1060 Chandler Road.

EMERGENCY PREPAREDNESS FAIR. When Lake Oswego was under a Level 1 evacuation order during the wildfires in September of 2020, we all got a crash course in emergency preparedness, while at the same time perhaps being reminded of how Unprepared we were for an emergency. With that in mind, we might all want to show up at the City of Lake Oswego’s Emergency Preparedness Fair on Thursday, September 15. Twenty information booths will be on hand to educate you on:

Water storage and emergency food options, emergency supply kits, pet preparedness, portable sanitation and seismically retrofitting your home. The City will be giving away approximately 280 BPA-free 3-gallon water containers (limit of one per Lake Oswego household, while supplies last).  In addition, they are also giving away 100 one-gallon soft-sided water bags.

How to fill and stack sandbags against flood waters

CPR training

Building a water filtration system

How to protect your home from wildfires

How to use two-way radios for emergency communication

In addition to the learning opportunities, there will be fun activities for the kids including getting up close and personal with city vehicles like a fire truck, street sweeper and police cars and meeting LOPD’s K9 teams.

The event takes place at City Hall, 380 A Avenue on the 3rd floor in the Community Room and in the upper parking lot from 5:30 p.m. to 7:30 p.m.

CULTURAL EXCHANGE. This half-day festival celebrates the diverse culture in the Lake Oswego community with live musical performances, dance, martial arts, artisan and food vendors, nonprofits, community booths and more. Sunday, September 18 from 12:00 p.m. to 8:00 p.m. at Millennium Plaza Park, First and Evergreen.

GALLERY WITHOUT WALLS CELEBRATION. Welcome the city’s 12 new sculptures into Lake Oswego’s Gallery Without Walls at this family-friendly event featuring food, fun, artist presentations and hands-on art creations you can take home. The event culminates with docent-led tours of the new artwork to line our city streets. Sunday, September 18 from 3:00 p.m. to 5:30 p.m. at Lake Oswego City Hall, 380 A Avenue.

LAKE OSWEGO INDOOR TENNIS CENTER GRAND REOPENING. After being closed for renovations, the city’s indoor tennis center is reopening its doors with a new upstairs viewing area for watching the action, a multi-purpose room to host meetings and gatherings and a lobby area to enjoy beverages and snacks after matches. All are invited to the grand reopening celebration complete with self-guided tours, tennis demonstrations and refreshments. Saturday, September 24 from 11:30 a.m. to 1:00 p.m. 2900 SW Diane Drive.

THE ADULT COMMUNITY CENTER KITCHEN ACADEMY. Le Cordon Bleu Paris trained and Sysco Culinary Consultant Tselani Richmond will kick off this series of classes on Wednesday, September 28 at 2:00 p.m. with a class on “Preserving the Summer Harvest.” The class will cover fruit and vegetable selection, where to shop, and freezing/canning/pickling. Listen, get some hands-on instruction and the best part is the tasting! Future sessions will cover Plant Based Tasting and Knife Skills. Register online. Fee is $25/Residents; $35/Non-Residents.

LO WINE WALK. While this year’s Wine Walk isn’t until October 1, tickets are on sale now and should be purchased before they sell out! This fun event gives Lake Oswegans a great excuse to get to know local businesses while also getting to know more about wine. Up to 40 locations will be pouring from 2:00 p.m. to 5:00 p.m. Tickets are $50/person through August 30; $60/person after August 30. They can be purchased through the Lake Oswego Chamber of Commerce. https://lakeoswegochamber.com/wine-walk/

BLITHE SPIRIT AT THE LAKEWOOD THEATRE COMPANY. The Lakewood Theatre Company is performing a Noel Coward play through the month of September that’s sure to entertain. Socialite novelist Charles Condomine invites the eccentric medium, Madame Arcati, to his house to conduct a seance, hoping to gather material for his next book. The scheme backfires when he is haunted by the ghost of his annoying and temperamental first wife, Elvira. Runs from September 9 through October 16. Tickets are $25 for Students 25 and under, $36 for Seniors 65 and over and $39 for Adults. Purchase online. https://lakewoodtheatrecompany.csstix.com/

Don’t miss out on a single reason to Love Lake Oswego. Subscribe to my blog by clicking on the “Sign me up” button in the top right-hand column and receive weekly updates to your inbox.

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Where to Celebrate Oktoberfest Near Lake Oswego

The calendar may say September but it’s Oktoberfest time. How is that? I’ll explain later.

The more important thing is, even if you can’t make it to the Munich celebration this year, you can still raise a pint and dance to some oompah music close to home.

Here are some local Oktoberfest events near Lake Oswego:

KENNEDY SCHOOL OKTOBERFEST. Enjoy German fare at the Kennedy. School’s sixth annual celebration. $25 will buy you a brewfest glass and ten tokens. Check the schedule for live music. Saturday, September 10 from 1:00 p.m. to 7:00 p.m. 5736 NE 33rd Avenue.

RIDGEFIELD OKTOBERFEST. Just a 40-minute drive will take you to Overlook Park in Ridgefield, the setting for their seventh annual event featuring live music, axe throwing, archery, corn hole tournament, wiener dog races, a costume contest and more. Purchase a VIP pass online for $35 prior to the event. General admission is $15; Kids from 10-21 $10. Saturday, September 10 from 3:00 p.m.to 10:00 p.m.113-131 S. Main Avenue, Ridgefield Washington.

MT. ANGEL OKTOBERFEST. This quaint town of 3,575 morphs into party central for over 300,000 visitors at what has become the largest folk festival in the Northwest. Much of the event is free; however, admission is charged at three of the premium entertainment venues. Over 40 beers are featured as well as 30 wines, all to wash down some traditional German food like sausage, brats and sauerkraut as well as corndogs, Russian perogies, spätzle and marionberry cobbler. Activities include arts and crafts, a car show, Oktoberfest Olympics, street dances and wiener dog races. Check the website for a complete schedule. September 15 – 18. 5 N. Garfield Street, Mt. Angel. 

WIDMER BROTHERS OKTOBERFEST. Claiming to be Portland’s longest-running Oktoberfest, Widmer Brothers Brewing will be offering live music, entertainment, food and plenty of Widmer Brothers beers, including Oktoberfest Ale (your only chance to get it!). The event is free of charge to enter but check online for cup and token pricing. September 24 from 2:00 p.m. to 10:00 p.m. 929 N. Russell Street.

EDGEFIELD OKTOBERFEST. Enjoy live music all day starting at 11:00 a.m. as well as tasty German-style specials and plenty of the sudsy stuff. Estate produce, plants, seeds and gifts from the garden will be on sale along with face painting and balloon art for the kids from 3:00 p.m. to 6:00 p.m. September 24 at 2126 SW Halsey Street in Troutdale.

FOREST GROVE OKTOBERFEST. Enjoy Bavarian food, drink and entertainment at this community event along with carnival games and some bound-to-be-fun contests like a wiener dog race, adult tricycle race and beer belly contest. September 24 from 12:00 p.m. to 7:00 p.m. at 21st Avenue and Main Street.

OAKS PARK OKTOBERFEST. This popular event has been postponed until 2023 due to staffing shortages and supply chain issues.

Now back to why Oktoberfest is held in September. It began as a royal wedding celebration in October 1810; however, as it continued, it was moved earlier and earlier in the fall to take advantage of the longer daylight evening hours and warmer weather. This year the Munich Oktoberfest runs from September 17 through October 3, enough time for revelers to consume almost 2 million gallons of beer.

Thinking of moving to Lake Oswego or selling your home? Let’s get together and talk. I can help you navigate the ever-changing real estate market to help you decide your best move. With over 30 years’ as a Realtor specializing in and living in Lake Oswego I have a perspective and expertise that has helped many clients in their home buying/selling process. You can reach me at 503.939.9801, check my website, or email me at kevin.costello@cascadehassonsir.com.

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A Toast to the Return of Lake Oswego’s Wine Walk

Absence makes the heart grow fonder. It’s not like the Lake Oswego Wine Walk needed a couple years of Covid-cancellations to make it any more popular than it already was, but given the two-year gap, ticket sales are going faster than in past years (and it sold out in 2019, the last wine walk). This year’s event is set for October 1 from 2:00 p.m. to 5:00 p.m.

What’s a good game plan?

  1. Buy your tickets early. Follow this link and make sure you’re in for this year’s popular event. Tickets are $50/person through August 30; $60/ person after and entitle you to twelve one-ounce pours. By signing up early, you’ll be sure to receive email confirmation once the wine list has been curated so you can start strategizing your game day timeline.
  2. Get your friends to join you. This is a fun, social event, and the perfect excuse to meet up with friends. Things wrap up at 5:00 making it easy to finish the evening off with dinner at one of downtown Lake Oswego’s restaurants. If that sounds like a good idea, best to make reservations now as those spots on weekend nights fill up too.
  3. Check in early. Check-in runs from noon to 4:00 p.m. at the Windward in the common area, 130 A Avenue. When the event kicks off at 2:00 you want to be stationed at your first stop so it’s best to check in early. And in case you haven’t had time to identify what wines you want to taste where, this will give you the extra time you need. Put your favorites at the top of your list just in case supplies run out towards the end of the afternoon.
  4. Check the weather and dress appropriately. Past events have run the gamut from sunny and warm to wet and windy so be sure you’re prepared for whatever Mother Nature has in store. And bring a tote bag to hold any purchases you may pick up along the way.
  5. Make sure to factor in some water stops along the way since as good as wine is, it does dehydrate you. You’ll thank yourself the next day for making sure you’re sipping water as well as wine on your walk.
  6. Be adventurous. This is the perfect excuse to try new things—from wines you may have never tasted to stores you have never visited. There will be up to 40 pouring locations, each featuring different wines as well as a range of food items. Wizer’s Wine is curating the wine list for most of the locations so your taste buds are in good hands.
  7. Take pictures. What better way to commemorate the event and also to remember the wines you really liked! That way next time you’re at the store, you can just open up your photo library and know what you want to purchase.

Don’t miss out on a reason to Love Lake Oswego. Click the “Sign me up” button in the top right-hand column and receive weekly updates to my blog. And if you’re in the market for a house where you can drink all that wine, give me a call at 503.939.9801 or email me at kevin.costello@cascadehassonsir.com. I’d love to help you discover your own reasons to love this town I’ve called home for over 30 years.

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32 Invitations to Eat Outdoors in Lake Oswego

Outdoor dining became a necessity during the beginning stages of Covid. Now with summer here, it’s just something we want to do.  Here are some local restaurants that provide outdoor seating. Pull up a chair and stay a while…that’s what summer is meant for.

LAKEVIEW VILLAGE

ST. HONORE’ BOULANGERIE.  Grab a seat on the outdoor patio and enjoy some people watching (especially during the Saturday Farmer’s Market) along with your food. The French baking tradition lives on here with offerings like the croque monsieur and salade nicoise as well as puff pastries filled with all sorts of temptations: custard, mousse and fruit fillings. Hours: 7:00 a.m. to 8:00 p.m. daily. 315 First Street, Lake Oswego. 503.445.1379.

PIZZERIA SUL LAGO. This spot stays true to Neapolitan-style pizza roots while also honoring the Pacific Northwest bounty. It’s a great people-watching spot looking out on Millennium Plaza Park. 315 1st Street, 503.482.2280.

MANZANNA ROTISSERIE GRILL. Enjoy Northwest specialties served up with fresh ingredients along with a touch of the Southwest with choices like the Santa Fe Chicken Enchilada Stack or the Grilled Chili Rubbed Tri-Tip. Outdoor seating is available on the patio overlooking Lakewood Bay. 305 First Street. 503. 675.3322.

HOLY TACO. Enjoy creative renditions of Latin American dishes and agave focused craft cocktails either indoors or on the large outdoor patio overlooking A Avenue in downtown Lake Oswego. 345 1st Street, 503.675.2726.

CHUCKIE PIES. PDX Eater named this pizza spot one of the 11 restaurants that define Lake Oswego. The wood-fired pizza oven and house-made dough might have something to do with it too. Indoor and outdoor seating. 430 5th Street, 503.342.6207.

BAMBOO SUSHI. Claimed to be the most sustainable seafood restaurant in the world, this restaurant introduced my wife and I to sushi (we highly recommend The Green Machine) and made us repeat customers. Both indoor and outdoor seating. 380 1st Street, 503.387.6565.

DOMAINE SERENE WINE LOUNGE. Designed to be a neighborhood gathering place, you’ll find some outdoor patio seating as well as counter seating at windows that open up to Evergreen in addition to indoor options. The menu includes flights and bites featuring French American cuisine. 300 1st Street, 503.664.7030.

DOWNTOWN LAKE OSWEGO

LAKE OSWEGO ICE CREAMERY. The casual fare here is sure to be popular with the younger crowd. Everything tastes better when accompanied by a milkshake made with local Tillamook ice cream or finished off by a scoop of your favorite flavor. Outdoor seating sits right on busy A Avenue but the kids don’t seem to mind. 37 A Avenue. 503.636.4933.

TUCCI. Regional freshness highlights the Italian cuisine with such favorites as Veal Milanese, Ciopinno and Chocolate Polenta Cake. Patio seating feels tucked in and the lighting at night creates just the right ambiance. 220 A Avenue. 503.697.3383.

THE DULLAHAN IRISH PUB. This is your stop for traditional Irish fare like Guinness Irish Stew, Corned Beef and Cabbage and Fish N’ Chips. Oh, and did I mention the beer? Picnic tables strewn across the front and side yards invite casual summer dining (and did I mention the beer?) 352 B Avenue. 503.305.8087.

BAIRD’S ON B.  If you’re lucky, you can snag a spot on their porch for either happy hour or dinner featuring a variety of contemporary, northwest American fare with an emphasis on local and seasonal products. 485 Second Street, 503.303.4771.

LOLA’S CAFÉ BAR. This place is usually hopping with quite a bit of covered outdoor patio seating (heated when needed) where you can enjoy their menu options, many of which cater towards vegetarian, dairy-free and gluten-free eaters. 525 3rd Street, 503.780.8279.

DUKE’S PUBLIC HOUSE. This family friendly sports bar offers regioinal American cuisine with a side order of entertainment (as in big screen TV’s for game-watching) and games like corn hole and life size Jenga. Enjoy outdoor seating in a heated covered patio with fire pit. 560 A Avenue, 503.387.5771.

BESO BAR AND BOTTLE. Enjoy wine by the glass and/or food from a European-inspired kitchen indoors or on the heated patio. 148 B Avenue, Suite 200, 503.342.6282.

NICOLETTA’S TABLE. This Italian trattoria has spacious indoor as well as outdoor patio seating where you can relax and enjoy some of the best Italian dishes Lake Oswego has to offer.  333 State Street, Suite M, 503.699.2927.

WILLAMETTE VALLEY VINEYARDS. Enjoy sustainable wine and Pacific Northwest inspired cuisine at Lake Oswego’s newest spot for oenophiles. While the focus is on what’s happening inside, there is also patio seating and an outdoor fire pit . 55 S. State Street, Suite 3105, 503.387.5182.

LAKEFRONT

STICKMEN’S LAKESIDE SMOKEHOUSE AND BREWERY. This restaurant and brew house features an outdoor patio deck overlooking Oswego Lake where you can enjoy house-smoked barbecue and in-house brewed craft beer. 40 N. State Street. 503.344.4449.

LAKE THEATER AND CAFÉ. Although you’ll find movies heralded on their marquee, this place also takes its food seriously. You can eat it while watching a movie or just chill in their indoor café seating or on their outdoor deck overlooking Lakewood Bay. 106 N. State Street, 503.387.3236.

LAKE GROVE

RICCARDO’S RISTORANTE.  Riccardo and Georgette Spaccarelli have been dishing up Italian favorites like Saltimbocca di Vitello and Spaghetti con Vongole since 1980Local wine connoisseurs swear by their Italian wine selection. All of it tastes better when served al fresco on the terra cotta tiled patio. 16035 Boones Ferry Rd. 503.636.4104.

JEFE.  Enjoy authentic Mexican style cooking for breakfast, lunch and dinner from huevos rancheros to enchiladas and tamales. Covered patio seating in the breezeway alongside the restaurant is a great spot to nurse a margarita while practicing your Spanish. 16360 Boones Ferry Rd. 503.635.1900.

LA PROVENCE.  This place has been hopping since it opened in its new location in the recently renovated shopping center on the corner of Bryant Road and Boones Ferry. Both bakery and bistro seem popular with locals lining up to order croissants, omelets, potato tartiflettes, and pork medaillons. Petite entrees start at $6.50 and are designed to be shared. Gluten free options are available too. Weather permitting, patio seating is always a coveted spot. 16350 Boones Ferry Rd. 503.635.4533

BABICA HEN.  Check out this breakfast and lunch spot featuring fresh baked goods (including gluten-free cupcakes and muffins) and waffles served all day long (gluten-free options available). 15964 Boones Ferry Rd. 503.636.4012.

GUBANC’S. With the Boones Ferry renovation, this 40-year restaurant was able to add outdoor seating to guests who regularly visit to enjoy their from-scratch meals using local, fresh, organic ingredients. 16008 Boones Ferry Road, 503.635.2102.

GIANT BURGER. I’ve written about Giant Burger’s appeal here before. Check it out for reasons why you might want to sit on one of the outdoor picnic tables and enjoy the burgers that seem to make the local Top Burgers list by food-lovers in the know. 15840 Boones Ferry Rd. 503.636.0255.

PINE SHED RIBS AND BARBECUE. Christened “best barbecue in PDX” by Portland Monthly magazine, Pine Shed Ribs offers outdoor picnic tables for savoring their popular meat-lovers fare including ribs, pulled pork, brisket, bacon, pastrami, sausage, and chicken. Sauces are gluten free.17730 Pilkington Rd. 503.635.7427.

AJI TRAM. This Lake Grove neighborhood spot features a mix of flavors from various Asian cuisines resulting in a contemporary Asian fusion menu with a new-age American twist. There is indoor dining and wall panels that open up on really nice days as well as a few outdoor tables. 44776 SW Lakeview Blvd., 503.342.6249.

DENO’S PIZZERIA. There are a few outdoor tables in front of this popular Lake Grove pizzeria that’s been run by the Valentine family for three generations. Good things bear repeating. 4475 Lakeview Blvd., 503.635.6219

MERCATO GROVE. 4055 Mercantile Drive

TASTY.  An all-day eatery with an eclectic menu, inspired by world-travels, celebrating the bounty of the Pacific Northwest. Both indoor and outdoor seating. 503.305.5298.

OVEN AND SHAKER. This pizza joint features wood-fired Neapolitan-style pizza with hand tossed dough made with a 70-year-old sourdough starter, cooked off in an imported Milanese wood-burning oven for the perfect crust. Indoor and outdoor seating. 503.305.6212.

LARDO. This place specializes in sandwiches with a menu that features pork-drenched double burgers, fried mortadella, Italian tuna melt, and porchetta to name a few. Most sandwiches can double as a “salad” if carbs are not your thing. Both indoor and outdoor seating. 503.303.9277.

LAC ST. JACK. Features French faire, fresh seafood, delicious cocktails, excellent wine and a lively atmosphere with both indoor and outdoor seating. 503.387.3038.

FILLS. Well known for berliner-style donuts—filled and topped with fruit, chocolate or custard—plus breakfast sandwiches, burgers and fries.  Lots of seating on the outdoor patio. 503.305.8347.

KRUSE VILLAGE

TAVERN ON KRUSE. Enjoy live jazz along with farm-to-table fare seven nights a week during the summer on two large patios here that seat 100. Open for lunch and happy hour as well. 4835 Meadows Rd., #133, 503.303.5280.

Lake Oswego has lots to offer not just in outdoor dining but also in recreation, schools, and housing. If you’d like to explore Lake Oswego and consider moving here, please give me a call at 503.939.9801 or email me at kevin.costello@cascadehassonsir.com. I’ve been a Realtor in Lake Oswego for over 30 years and would love to put my experience to work for you!

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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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