Oregon Coast Family Vacation from Boise (Portland, Ashland: mortgage, attorney, equity)

[Topher]

Skytripper...I do plan on checking out the coast and the cities/towns/hamlets that have been mentioned. Guess I will find out if the pace is to slow for me as I come from a large metropolitan area. In a perfect world (as in the "Walgreens" snow globe commercials) I think I would be blessed to say that at least 1/4 to 1/2 of the year I live near the Pacific Ocean, with views to die for. I know you have mentioned Cannon Beach in earlier posts..Is it realistic to find a home in nice condition there for 500,000.00 or less or is this really only a small" handymans special" cottage range?(Not that I feel you are a realtor, but as someone who has visited there). I'm not wealthy but comfortable and think this would be my max price range. I plan on walking the streets quite extensively when I visit in October to check things out. I have checked on Sperlings best places to live and the site does say that Cannon Beach is 33% higher to live at than the U.S.average based on an index of 100.

[janb]

Originally Posted by Topher

... that Cannon Beach is 33% higher to live at than the U.S.average based on an index of 100.

well... restrictive covenants / regulations have a way of doing that...(Cannon Beach, or Boulder Colorado in 1970's) (increasing the home prices, due to lack of available space or in this case inability to recover costs by doing shorterm rental) plus it is VERY close to a wealthy Portland absentee owner base. (Silicon Forest)

I have done a similar quest this year in trying to buy property in a desirable mountain town in Colorado where I grew up. Tourist towns require a different real estate mindset. (I haven't quite figured out how to make it pencil, but I don't think it will)

There is an adequate supply of uninformed buyers to keep selling market high. (these buyers later are sitting there with unoccupied homes, making huge payments and with high maint liability, OR they are paying through the nose (30-50%) for a management company to handle their property.

Groceries and service are overpriced, as people will still come and pay.

Wages are depressed because enough people desire to live there to allow turnover.

Internet based independent workers can afford to buy and stay in the nicer 'average' places. Those might have been bargains 'pre-web'. Remote 'desirable' locations have more takers these days. (including entrepreneurial contractors / every-2-yr primary residence swappers)

Longterm rents are pretty cheap because shorterm management fees are so high, many owners would rather rent on annual basis than deal with a shady management company and revolving door of tenants. Owners sometimes end up renting from someone else when they want to come stay. (It's cheaper!)

When you come to visit take a very close look at the number of empty homes, (especially during midweek) it is really quite staggering to imagine that equity sitting vacant for 200 days / yr. Imagine using that same equity to buy a stripmall that could be adding $1.00/SF/month to your cash flow (triple net... no expenses to you). Say you could buy a 5,000 sf building for $500k, and lease for $5,000/month... on an annual basis, the beach house is looking pretty expensive, as you could easily rent one for 1/4th that amount. (non peak season) There are plenty available...

And yes you can find a decent small home in Cannon Beach for under $500k (probably plenty in Oct). It will be a few blocks off the beach, probably on east side of main road, but still west of 101. It will have a small lot (40x80) and probably be fixed up pretty nice. (few 'fixer's left in Cannon Beach)


Do check out some of the other towns close to Cannon Beach, I have a feeling they may be more amiable to FT residents. I would guess CB can be more than a bit 'stuffy', and quite crowded during peak season. (I'd be renting my joint out during that time, and be enjoying Canada myself, BC / Alberta is really nice in the summer.) The OR Coast can be chilly and damp.

[Topher]

Janb...Again, thank you....I too was wondering about living in a town with such a large seasonal turnover rate along with the "local" acceptance factor. Never have done this! Had a friend who moved to a city on one of our "Great Lakes" after going there for years. He felt a great sense of accomplishment when he was finally accepted into the "fold" as it were. Took quite some time though.You may have already answered this,but, are you Oregon born or a long time transplant? You and other posters sure provide a valuable insight on things. Keep it coming!!!

[janb]

Acceptance will be related to your interests and sensitivity. There are often good and bad groups in a town to get into (like drama... some are SO Closed... and others very fun and open). Same with photography and other arts. Gardening / Hiking has a less intense crowd. I like being in 'service' related volunteer groups, and co-ed sports, it keeps the 'pride' factor at bay. There is money in these towns, but it doesn't have to be the controlling factor. Find a fun community that has lots of support and a stable (homegrown, but not ingrown) government. Go to community potlucks and fund raisers when you visit, and lend a hand. If nothing is going on, just start wandering around an seeing if there is someone you can help out. (chopping / stacking wood, yard work, garden work, city planter boxes, trash pick up, sweeping walks, washing windows...). It opens lots of doors and you'll likely get an earful. (If you don't get shot for asking... that is an indication of a bad town, or someone having a 'bad-hair-day'. Be discerning and give it a couple of tries, after 3 failed attempts, I move on)... It can be fun to contribute a few hours to someone in need when you are on vacation. I often stop in and talk to business owners to see what's on their mind and agenda. (no, I'll never aspire to politics, banking, insurance, or real estate (shoot me first !!!). I do spend a lot of time and energy being an advocate for seniors and folks that may not have a strong voice, or be too busy to fight... (business owners / farmers)).

BTW, I'm not a 'native' anything. (born on the prairie) - 25 yrs in Colorado/WY and 25 yrs in WA (on the OR border) with stints elsewhere when opportunity calls. (I have major 'wanderlust', more happy traveling, than at home, tho I have a very comfortable 'retreat' home.) It is tough to leave the view go to school once / week. I enjoy mingling with the locals, especially living amoungst 'nationals', and worker bees. (not at the bar...) My party days ended at age 18... when it became legal, I was already burnt out. Plus my eldercare responsibilities started on my 18th BD. (welcome to life)

You'll have a great time, come with an open mind, and open it up continually during your visit.
see what fits, and wear it for awhile. This relocation thing is not trivial, but if you are adaptable it can be fun. There will be no perfect place, hopefully you will find something close.

[Larry Caldwell]

Originally Posted by janb

When you come to visit take a very close look at the number of empty homes, (especially during midweek) it is really quite staggering to imagine that equity sitting vacant for 200 days / yr. Imagine using that same equity to buy a stripmall that could be adding $1.00/SF/month to your cash flow (triple net... no expenses to you). Say you could buy a 5,000 sf building for $500k, and lease for $5,000/month... on an annual basis, the beach house is looking pretty expensive, as you could easily rent one for 1/4th that amount. (non peak season) There are plenty available...

I just got back from 4 days at the coast. My wife and I, and 2 large dogs, stayed in a beach front 3-bedroom, 2 bath, 2-story house in a nice neighborhood for $600. There was a 50" HD television with surround sound in the living room. The large back yard was fenced for the dogs. The entire second floor facing the ocean was glass, with a couch sized window seat. The large second floor deck was faced with plexiglass to break the wind.

$600 is a whole lot cheaper than owning it. I don't begrudge the owners the money, because they are just defraying some expenses, not making anything on the deal, except perhaps maintenance costs, which are huge at the coast, and part of the mortgage.

[Topher]

Sounds like I definately need to rent out a place on the coast for several months..most likely during winter/spring months to start with. I have an older bulldog ( 9 1/2 ) who is my best buddy. Dont think I like the idea of leaving him at a borders all those months and would take him with me...My parrots (3) can be boarded at a local pet shop which is kinda like the magic kindom of the birdworld. Costs a a ton of money though anyone ever take a dog on a plane? I know he would have to be crated and in the environmentally controlled cargo area and possibly tranquilized (not crazy about this ,dont know if it can be done w/o it, sure hope so, will confer with my vet) Any experience on this or think I need to start a new thread??) I live clear across the country and would not enjoy the drive......)

[Topher]

Same topic / same coastal area. What are your thoughts on Manzanita? Dont recall seeing too much negative on this small town. Seems to agree with most of the posters......Is it similar to Cannon Beach but not as high priced?

[nanannie]

Love Manzanita for less crowds,nice beach,nice pizza.Cannon is wonderful but pulls in the people,still worth the trip and as others have said,dont miss Oswald..Seaside? Reminds me of a tacky carnival let loose on the beach with the people to match.I dont care for Astoria other then a quick drive thru to say you saw it.The museum is ok if you like that sort of thing,,I just dont like to do that sort of thing unless its raining(which is the norm in Astoria)

[Topher]

Originally Posted by nanannie

Love Manzanita for less crowds,nice beach,nice pizza.Cannon is wonderful but pulls in the people,still worth the trip and as others have said,dont miss Oswald..Seaside? Reminds me of a tacky carnival let loose on the beach with the people to match.I dont care for Astoria other then a quick drive thru to say you saw it.The museum is ok if you like that sort of thing,,I just dont like to do that sort of thing unless its raining(which is the norm in Astoria)

Seaside is just a base for me to use for the first time to Oregon..If, and this is a big "If" one were to move (still intend on long term renting first) to either of these areas it just seems to me that the first city on everyones mind when speaking of a beautiful coast,beach,shops, etc.. is Cannon Beach. (the standard which the others are compared to). Since real estate prices are so inflated at present, and again "If" I were to plunk down a very sizeable (IMHO) amount of money on any real estate, I would like to keep desireability at a premium..location, location,location!!

[Skytripper]

After reading several of the posts in these ongoing discussions on the coast.....IMHO.....IF I were you and considering a property investment with location being of such the importance as you state......here's what I would advise.....
Cannon Beach IS a wonderful location and definitely caters to a bit more of an upscale crowd..... and now overpriced ....but in the near future, I truly believe your best bet WOULD honestly be looking into the area around MANZANITA.
Cannon is already "maxing out" on its overall value/desire/ratio...per se, IMO.

FORGET SEASIDE altogether! Trust me on that one....but to each his own.

MANZANITA.......IS NEXT in line...I think.... for overall growth/housing/property investment, etc. as the area (beautiful beach)......has sooo much potential not yet maximized and its close proximity to Cannon Beach truly places it next in line for overall "desirability".....(not yet fully "discovered"....maybe....for better or worse) and overall potential within the next few years or so COULD be phenomenal......or when the market eventually DOES pick up again....and you just know it will.
Just my belief.....but I could be wrong.