Well, I am biased because I was raised in Lake Osweg and now live and work in Lake Oswego as well. It is a great town with lots of civic resources: public art and music, an award winning library and schools, and a Farmer's Market and parks. (To see more of what is happening around town, check out the City of Lake Oswego website: http://www.ci.oswego.or.us/.
) For all those reasons, it is a sought after place to live and prices are a little higher for homes that you'd find for comparable homes in some surrounding areas. However, at the $350-400,000 price point, I know that your daughter and her husband could find something that would work for their family and commute.
The neighborhoods that I think would have the most matches are Westlake, Lake Grove, and River Grove. Westlake is nestled north and east of where 217 and I-5 connect a little ways from the main artery - Kruse Way. That is a comparatively new area (built from 1980 to ~2000) with Oak Grove Elementary School and one of the main Parks & Rec fields at its center. Lake Grove is a little older area (build from ~1950-1980) that is undergoing gentrification (aka tearing down and new construction) in some of its parts with new homes on the high side. Some of the kids there go to Lake Grove Elementary and some go to River Grove. Lake Grove is one exit South on I-5 of the 217 interchange. River Grove is a small neighborhood with a big sense of identity. These are a typically a little older homes (1950-70), many on big lots. These kids go to River Grove Elementary and it is two exits South on I-5 from the 217 interchange.
Other neighborhoods that might have some matches are Palisades - attending Palisades Elementary - and would require about 10 minutes to drive East to get to I-5. Hallinan (feeding to Hallinan Elementary) would also have some matches but that is about as far East as Lake Oswego goes and would take about 15 minutes to get to I-5. Note that these neighborhoods aren't that far distance-wise to the main commute routes. You are just driving through residential areas with stop signs and lights and a town with a lake in the middle of it with no bridge. From the southernost on ramp, I can get to downtown Portland in under 17 minutes without traffic. With traffic, it depends on where you need to be - which side of the river and what time of day. Note: Oregonians tend to measure distances in minutes not miles - so don't be surprised if you ask how far it is to Mt. Hood and you hear, "Oh, about an hour and a half." :)
Someone mentioned taxes in their reply. Lake Oswego in general does have higher taxes than some other towns. However, most of Lake Oswego is in Clackamas County which is considered less expensive than Multnomah and Washington Counties. Also, a number of matches in Lake Grove and River Grove could be county lots - look for big lots and possibly septic instead of public sewer and you might see lower taxes.
I have some resources that I am happy to offer your daughter. First, I have a web site that she can log in to at http://www.kate-myers.com.
It is great because you can sign up for a search that breaks the listings down by neighborhood matching the price range you've given. The neighborhoods are defined as the people in them think of them. e.g. The Westlake subdivision, or North from the shore of Lake Oswego to Boones Ferry Rd,, East to Bryant and west to the train tracks. You can add and remove neighborhoods at anytime and see where they land on the map next to major roadways.
Second, there is a great annual review that comes out from Portland Monthly Magazine. That article, in addition to some websites, provide excellent rankings of all the public and private schools in the area. Lake Oswego's are consistently at the top of the list across the board. Other areas, like Tigard, Tualatin and West Linn, also have some high marks but may have some schools out performing other.
Last, all of my clients recieve my buyer's binder which takes them from the start of the search to the end of closing. This helps organize things and provide a preview of all the forms we typically use in Oregon. I'm not sure where they are moving from, but the process could be a little different here than in other states.
Please let me know if I may be of assistance with any of those resources. They can get started on their own at http://www.kate-myers.com
without even calling me. I won't bug them except once to make sure they know about some of the sites advanced features. (Also, if they'd rather not get an email daily, but would like it once a week instead or want to narrow down the search parameters, I can do that on my end). Then, they are free to look at long as they wish until they request some assistance.
Hope these answers were helpful. Good luck with everything.
Kate Myers, Realtor, GRI
Coldwell Banker - Barbara Sue Seal Properties