Events in Portland for June 2023

assorted color of hot air balloons
assorted color of hot air balloons
Photo by Kevin Bidwell on

The Rose Festival continues! June in Portland is filled with exciting activities: ships, street fair, powwow, hot-air balloons, and makeshift boats. Here are Shawn Realty’s top picks of events for this month.

1. Rose Festival Fleet Week

๐Ÿ“… June 7-11, Daily | ๐Ÿ“ Tom McCall Waterfront Park | ๐Ÿ’ต Free

Portland welcomes military visitors for a courtesy visit from the U.S. Navy, Royal Canadian Navy, and U.S. Coast Guard during the Rose Festival Fleet Week. Join the commemoration of the 100-year relationship between Portland and the Navy.


Tom McCall Waterfront Park
98 SW Naito Pkwy, Portland, OR 97204

See website

2. Alberta Street Fair

๐Ÿ“… June 11 | ๐Ÿ“ NE Alberta St | ๐Ÿ’ต Free

Venture out onto North East Alberta St on June 11th, and enjoy three blocks of crafts, vendors, live music, artists, produce, and hot foods at the Alberta Street Fair.


Northeast Alberta Street between N.E. 13th and 15th avenue

See website

3. Delta Park Powwow and Encampment

๐Ÿ“… June 16-18, Daily | ๐Ÿ“ Delta Park | ๐Ÿ’ต Free

Celebrate the Native American culture at the annual Delta Park Powwow and Encampent at East Delta Park. This family-friendly event welcomes native and non-native participants and spectators enjoy the intertribal dancing, arts and craft, cultural exhibits and delectable selection of foods.


Delta Park
10737 N Union Ct, Portland, OR 97217

See website

4. Festival of Balloons

๐Ÿ“… June 23-25, Daily | ๐Ÿ“ Cook Park | ๐Ÿ’ต Cost Varies

If you’re looking for a summer activity, why not ride on a massive balloon? The Festival of Balloons features scenic views of dozens of hot-air balloons floating by. The festival will be held daily from June 23-25.


Cook Park
17005 SW 92nd Ave, Tigard, OR 97224

See website | Get tickets

5. Rose Festival Royal Rosarians Milk Carton Boat Race

๐Ÿ“… June 25, 11:00 am | ๐Ÿ“ Westmoreland Park Casting Pond | ๐Ÿ’ต TBD

Milk, Carton, Boat, and Race in one sentence? Keep Portland Weird, as they say. This family-friendly event dates back to 1973 and you might not want to miss this unusual race! Watch makeshift recycled milk carton boats race for that glorious Best in Show milk can trophy. Participation and admission are free! If you’re interested to join, head on over to Westmoreland Park Casting Pond in the Sellwood neighborhood on June 25th.


Westmoreland Park Casting Pond
7600 Southeast 22nd Ave, Portland OR United States

See website

4 things about Subprime loans in 2023

Subprime loans are coming back more as lending is getting expensive.
2023 SubPrime Loans Video

subprime loans back like in 2007?

Let’s talk about 4 things about Subprime loans in 2023. It does feel like the subprime loans are coming back in May of 2023. I received a few new loan programs from local lenders. They call it “down payment assistance” or “closing cost assistance” programs. I’m learning about the programs to help some home buyers who might benefit from using these.

I couldn’t help comparing it to the subprime loans that were popular in the mid 2000’s before the market crash. So, I’ll explain my thought process here:

What is a subprime loan?

Subprime loans are higher risk loans given to borrowers with:

  • Below 620-640 according to FICO (Fair Isaac Corporation) credit score
  • Below 660 according to Federal Deposit Insurance Corp (FDIC)
  • The score standard varies depending on websites… which is a bit odd.
Are we seeing more subprime loans in 2023?
Photo by Andrea Piacquadio on

To make more loan programs available to borrowers who may not be qualified with traditional conventional loan qualifications.

  • Experienced a judgement, foreclosure, bankruptcy…
  • Carries higher rates and fees than prime loans
  • Higher rates to compensate for the lenders for taking greater risk of borrower’s defaulting
  • Interest-only, fixed and variable rate programs
  • Variable rate subprime loan payment can increase significantly over time
  • Aka, expensive loan to borrow for financially weak borrowers (poor credit scores and issues on their credit reports)

I personally used the subprime interest-only loan as a home buyer in 2005 when I bought my first house in Portland, Oregon. I didn’t have a job at the time and I still scratch my head how I was able to get a loan without a job. It was called, “Stated income” loan. You tell the lender how much you made the last two years, and they believe you without verifying the information. As far as I know, those stated loans don’t exist in 2023.

why new loans are similar to subprime loans?

Some of the details of these new programs that are coming up resembles the mid-2000’s subprime loans.

  • 101.5% LTV (Loan-To-Value Ratio) lending
  • Available to poor credit score borrowers: 620 credit score may be qualified for downpayment/closing cost assistance programs
  • Not requiring downpayment

If a borrower is financially strong, but somehow hasn’t saved the funds for downpayment and closing costs, programs like these can bridge the gap and allow the borrower to purchase a home sooner than later. However, 620 credit score indicates that the borrower may not be financially strong indirectly. So is this a smart choice for the borrowers?

What could go wrong?

Here are some scenarios where things could go wrong for borrowers:

  • Borrowing more than they can afford
  • Potential of dealing with rate hikes in the future if they get adjustable rate loans
  • If housing market crashes 10-20% after these programs being used too widely in the next 2-4 years
  • If variable subprime loan becomes unaffordable to borrowers and home price declines, the demand would slow down and we might see more foreclosures. Possibly no options to refinance or sell without paying out of pocket to make up the difference (aka short sale)

What you should do

If you are utilizing one of these down payment assistance and/or closing cost assistance loan programs:

  • Make sure to understand the fee and extra costs of the loans
  • How they might affect your monthly payment for now and in the future
  • Avoid the Variable Rate loans to protect against potential future rate hikes
  • Stay within your budget: buying a property you can truly afford and moving to lower priced cities

Make sure to understand your financial situation by educating yourself before jumping into a homeownership with programs like these. There’s no free lunch.

What AREAS Home Inspections Look at: 10+ Important Areas

When you have a home inspection, what is looked at, and where? As you know, home inspection is a must do when you are buying a property. If you are buying a complete fixer to level and build a brand-new house, maybe you can skip it. Other than that, it is a crucial step in the home buying process.

where & What DO home inspections COVER

From roof to foundation, it’s mostly a visual inspection (without opening up walls). Some inspectors use a behind-the-wall moisture meter, an infrared temperature gun.

Here’s a list of the items (not a complete list):

  • Structural: Roof, gutters, attic, ceiling, siding, foundation, crawlspace, driveway, deck, landscape drainage around house, chimney, windows, drywalls.
  • Mechanical: Water heater, garage door, garbage disposal, fireplace, most of the appliances.
  • Plumbing: Indoor water piping and drainage, faucets, sink, bathtub, shower, any visible leaks.
  • Electrical: Electrical outlets GFCI, electrical panel wiring, smoke alarms, CO2 alarms, lights, fans.
  • Heating, Ventilation and Air Conditioning (HVAC) – not as thorough as HVAC specialist can: Furnace, air duct, air conditioning unit, ductless system.
  • Fuel system: gas line, oil line.
  • Insulation/ventilation: Attic space, sub floor in crawlspace, ventilation pipes. vapor barriers, mold.
  • Pest/Insects: Ants, termite, other wood destroying insects, rats, birds, etc.
  • Any other environmental issues at surface level: landscaping around the house, sidewalks, driveway, vegetation, tree roots.

Additional Inspection Areas

You may need to hire separate inspection companies for the following:

Which home inspector to choose

You need to find and hire a licensed/bonded/experienced home inspector with great reviews and recommendations. As a 15-year+ realtor, I notice many repair items when I walk into a house, but a great inspector will find even more issues in any home. A great inspector can save you a lot of money and from any issues that can affect the resale value in the future as well.

If buyers want my recommendation of home inspectors, I may only recommend who I’ve worked with and who I’d hire for my own home purchase. They need to be knowledgeable, detail oriented, professional and willing to look deeper into any issues that may affect the living quality.

  • Check online reviews: Better Business Bureauยฎ (, Google, Yelp, etc.
  • Ask your Realtor for recommendations. Good Realtors know good home inspectors.
  • Ask to see sample inspection report.
  • Check their pricing and what’s included.

home inspection FAQs

Q: When to do home inspection?

A: After your offer gets accepted by the seller and before the inspection contingency period ends, typically.

Q: Why do they need insurance and bond?

A: Most of the states regulate the home inspection license to standardize the qualification, knowledge level, state building codes and coverage of home inspection to make sure home inspections are done properly for buyers. Insurance/Bond portion is necessary in case of any damages that may occur during inspections, such as pipe bursting, toilet overflowing, personal injury, damage to personal property, etc.

Q: Can my father who has a general contractor’s license inspect?

A: Yes, he can, but I would not recommend it for many reasons. It may not be allowed by local real estate rules and not be considered as a professional home inspection. Also, too many potential issues related to liability, incident coverages and potentially losing leverage in repair negotiations.

Related content for home buyers:

Check out Oregon Home Buying Process and timeline here:

Things to know when buying a brand new home:

Events in Portland For May 2023

black and white ferris wheel
black and white ferris wheel
Photo by sergio souza on

Portland is in full bloom with a ton of exciting events happening this May! From the Cinco de Mayo Fiesta to Portland Rose Festival and everything in between, get ready for a month full of fun and adventure in the City of Roses. There’s so much to do: here are six of Shawn Realty’s picks.

1. Cinco de Mayo Fiesta

๐Ÿ“… May 5-7, 2023 | ๐Ÿ“ Tom McCall Waterfront Park | ๐Ÿ’ต $8-$25

Come experience the spirit of Mexico in this multicultural event hosted by the Portland Guadalajara Sister City Association. The Cinco de Mayo Fiesta features dance, music, arts, and sport . Don’t miss this three-day fiesta jam-packed with culturally immersive programs and activities.


Tom McCall Waterfront Park
98 SW Naito Pkwy, Portland, OR 97204

See website | Get tickets

2. Kodomo no Hi, Childrenโ€™s Day

๐Ÿ“… May 7, 2023 | ๐Ÿ“ Portland Japanese Garden | ๐Ÿ’ต Included with admission

The Komodo no Hi (also known as Children’s Day), is a festival which is commemorated annually in Japan to “celebrate children’s growth and good fortune”[1]. The event features family-friendly activities you can enjoy and learn from such as making origami, treasure hunting, and watching koinobori or cloth carp streamers. Celebrate Komodo no Hi with the whole family!


Portland Japanese Garden
611 SW Kingston Ave, Portland, OR 97205

See website | Get tickets

3. St. Johnโ€™s Bizzare and Parade

๐Ÿ“… May 13, 2023 | ๐Ÿ“ St. Johns Portland | ๐Ÿ’ต Free

Kick off the summer with the St. John’s Bizzare and Parade! Join in on the annual St. John’s Parade and keep the party going at the Bizzare filled with music, games, crafts, and food from over 135 vendors along the business district in St. Johns. Best of all, this event is free!


St. Johns Portland, OR 97203

See website

4. UFO Festival

๐Ÿ“… May 19-20, 2023 | ๐Ÿ“ McMenamins Hotel Oregon | ๐Ÿ’ต Cost Varies

Get ready for an out-of-this-world experience at the famous UFO Festival. This annual event held at McMinnville, southwest of Portland, is attended by thousands of non-extraterrestrial visitors. Dress up in your best alien suit for a fun-filled event which features parades, costume contests and expert speakers.


McMenamins Hotel Oregon
310 NE Evans St, McMinnville, OR 97128

See website | Get tickets

5. Mt. Tabor Art Walk

๐Ÿ“… May 20-21, 2023 | ๐Ÿ“ Mt. Tabor Neighborhood | ๐Ÿ’ต TBD

Traditions connect us to our past and in this Portland tradition, you get to see quality art works and meet the artists behind them. The Mt. Tabor Art Walk features visual arts represented in diverse media such as painting, mosaics, photography, prints, sculpture, ceramics, glass, metal arts, book arts, and jewelry. Walk, talk while experiencing the neighborhood art!


Mt. Tabor Neighborhood
Portland, OR

See website

6. Portland Rose Festival

๐Ÿ“… May 26-June 11, 2023 | ๐Ÿ“ Various Locations | ๐Ÿ’ต TBD

This annual festival officially hosted by the City of Roses since 2010 is a massive city-wide party in Portland, Oregon! Everyone is invited to its 60+ events, which includes parades, carnival rides, art shows, dragon boat races, fun runs and more! Come join in on the fun and celebrate with the whole family!


Various Locations

See website