Oregon Coast Family Vacation from Boise

[Topher]

Skytripper...not so much that I intend on a purchase solely as an investment, however, the cost of "similar" oregon housing is nearly 4-5 times what the value of my house is.( and my place is actually pretty sweet)! Taking this into consideration, the amount of money that one would have to plunk down to just get a reasonable mortgage in your state would actually be a home free and clear here ( Michigan ) in countless areas. And quite a nice one to boot. I may not choose to relocate once I visit, but something tells me that i'm gonna be awe struck when I see your coastline. Unfortunately, I too think that the price of real estate in Oregon, at least on the coast anyways, will be quite untouchable years down the road to us "commonfolk". Similar to what I read about from the California transplants and high cost of living there. Regarding "Seaside"..figure it's just a base, place to hang my hat so to speak, but close to all the places I want to see. "Manzanita" really does seem to be a place where the general consensus is pretty favorable and will get a serious look-see. If you care to respond...how long have you lived in Oregon?

[Larry Caldwell]

Originally Posted by Topher

Skytripper...not so much that I intend on a purchase solely as an investment, however, the cost of "similar" oregon housing is nearly 4-5 times what the value of my house is.( and my place is actually pretty sweet)! Taking this into consideration, the amount of money that one would have to plunk down to just get a reasonable mortgage in your state would actually be a home free and clear here ( Michigan ) in countless areas. And quite a nice one to boot. I may not choose to relocate once I visit, but something tells me that i'm gonna be awe struck when I see your coastline. Unfortunately, I too think that the price of real estate in Oregon, at least on the coast anyways, will be quite untouchable years down the road to us "commonfolk". Similar to what I read about from the California transplants and high cost of living there. Regarding "Seaside"..figure it's just a base, place to hang my hat so to speak, but close to all the places I want to see. "Manzanita" really does seem to be a place where the general consensus is pretty favorable and will get a serious look-see. If you care to respond...how long have you lived in Oregon?

Why don't you just buy a nice place on a lake there in Michigan, with your own boat dock and wood lot, and pocket the change? The Oregon Coast is really nice, but in the end a beach house is just a status symbol. The beaches themselves are owned by the state highway system. They are free for everyone to use, and it is illegal for property owners to even obstruct access to the beach. There's a park, public campground or wayside at every neat thing to look at on the whole coastline.

People who live within driving distance of the coast make heavy use of it for recreation, but you have to be pretty rich to buy a beach house and live there. You pay a heavy premium for the view, when that person on the beach is getting the same view for free.

[Topher]

Looking to get out of the Michigan winters,..alot like Oregon, long stretches of gray skies but obviously more snow and bitter cold. As far as a lake home here, I just love the ocean and the pounding surf. Great lakes are close, but still not the Pacific ocean. No chance of seeing migrating whales and all the other diverse wildlife you have on the coast. That to me is priceless.....

[janb]

I find commercial real estate to be a much better value in PNW than residential. But I wouldn't buy commercial on the coast, too much maint + vacancy / seasonal tenants.

Use your equity buy a nice 'strip mall' in an inland but affordable OR location (or WA... income tax free). Collect $10,000/month (NNN) rent. It protects your Real Estate equity position and will provide adequate cash flow to rent a nice spot to live on the beach. Then you can move around till you find the spot that fits right. If you get sick of having EZ income...eventually you can 1031 the strip mall back into a primary residence and sell that, tho you have to stay longer to collect tax free $$ (5 yrs instead of 2, IIRC). Or... if like me, you will 1031 your investment into a 'retirement' facility You can also do some TIC's (Tenants in Common), No phone calls in the middle of Christmas Dinner, or at 3AM... one we are in is paying 10% cash on cash + an annual equity appreciation. Or you can buy your 'primary' residence as a highly marketable condo or something else that spec builders are dying to unload. (Portland / Seattle have plenty, but bargains require searching). You should be able to collect 20% in your 24 month holding period on a bargain / distressed sale. By then you should have an idea where home feels best. You can just declare the condo as your primary by having a mailbox and utilties hooked up there. You will be jetting around to various locations anyway, just don't stay in one spot for over 5 months (besides the condo), and you should be safe to collect the $500k tax-free providing your gain is that much

You might look into living in WA for a spell. I'm told (by my estate attorney who works in both states), that WA estate taxes / rules are much more friendly. We set up our Living Trust in WA, and it owns all real properties (and especially Out of State Props). Thus when I'm dust... the WA trust will be executed. Nice thing about the Living Trust is full "step-up' basis for equities on death of first spouse / holder. Thus those $.50 shares of MSFT or the $50,000 home or investment property get revalued at date of death, and no gains are taxed !!!

(off-topic - boise vacation??)
FYI... another thing I just found out this weekend... is that an OR health care advanced directive must be available if you get treated here (our WA ones won't do...). We just changed to Kaiser, so... being near the border, and often in OR we would get shipped to OR for repair. The OR one is pretty comprehensive and available online, so I'll get one signed !! ASAP (we are on our way to Manzanita later today for sunset and an 'overnight'.) This stuff is so complicated... remind me to never die in Nebraska, they require an undertaker to accompany a body at all times!!. That got me in a little trouble with the DA when I was transporting my dad with a legal WA transit permit. (whoops)

[Topher]

Loads of info...loved it. You are one smart egg! Sounds like you have a business or similar background. Please let me know about your trip to Manzanita if you would be so kind...I realize this thread and subsequent topics have got off kilter..Should a new tread be started or is this one okay?

[Kathleenh54]

No need to start a new thread on this for me, I'm enjoying reading all the posts! I wouldn't necessarily go to a thread entitled, 'Buying a strip mall' but if the information is put up in a helpful way for a fellow poster, it's great.

Topher, you have to keep us up to date about what decision you make. We live in Ashland and I miss the ocean but don't know if it would be smart to move to the coast. Also, as we settle in here it gets more comfortable. Housing is expensive but what else is new?

No worries about shipping your dog by air, btw. We shipped ours six years ago when we moved from NY to SoCal. They crate them which is actually good; makes them feel protected and they are inherently 'den' animals anyway. The tranquilizers are no big deal. So the dog sleeps.

Bring your computer with you so you can visit City Data and let us know your impressions of the Oregon coast!

[janb]

just a quick reply... Manzanita was very nice, and not very busy (June 24&25). Weather was superb, light breeze, full sun. Spectacular sunsets (rivalled the fall, which I feel are better). We were all by ourselves on the beach one evening (Hug Point... still the best for geology / colors, rocks, water falls, caves...). Hotels were ~ $100/ night mid week. (via phone) But saw some cheaper ones advertised once we got there. I will do some serious looking for a home to rent on non-busy nights, or a 'guest home'. Fractional ownership is interesting me, and I might find a couple places (one at beach and one in Mountains) and do that. There was an article last week in the paper, a Guy spent $100k and got 25% share (13 weeks) in St Thomas. same would work anywhere in demand, and more sensible than time share, as you can schedule large blocks. + no Maint fees. A while back it was reported how folks were doing Vineyards in France as fractional ownership, as that was much more reasonable than owning one in OR... a resident caretaker tends the facility and farm, and fractional owners just show up when they are able.

lots of 'unused' homes. (empty during the week). You should find lots of places for sale in the fall. Just keep an eye on RLMS.com

I think you will find something that will suit you. But for a beach front place it is a few million-$$ off beach from $300k-$1.2m. A co-worker built in Manzanita a few years ago, and it was spendy, lots of hurricane / tsunami requirements.

Basically from my perspective, and not new news...

Cannon Beach = high society / trendy spot
Arch Cape = Very high end homes, little else, except the best view...
Manzanita, lots of homes, ~ 30% year-round population stuff is pricy, but 'semi-reasonable' places exist. People are real friendly and laid back. View decent, but not spectacular; beach is really long and flat. Golf nearby, and folks driving their golf carts around.

Rockaway = a bit more 'Ghetto beach', but building fast, and prices climbing. Plenty of rentals in Manzantia and Rockaway, I like the driftwood beaches of Twin Rocks (just SO of Rockaway) Very fine sand on beach. Nice place for kids to 'build forts'. Coast Guard flys by and gives you a 'Dolphin' (helo) demo a couple times / day. They are pretty impressive machines. Unfortunately they were doing 'recovery' last night for one of the PDX 'air-guard' F15 pilots who ditched during a training mission dogfighting with 'marine' FA-18's. Hate to lose those guys.

[Topher]

Been off the puter for last few days so apologize for the delay too! I have looked into the coast on "Youtube" and watched some amazing storm videos...As I type this, the dog ("Cyrus") has been letting go of some gas and it's pretty bad. Hope the oldtimer can make the trip...luv the bulldog to death, he's a good fat lttle man! Will keep asking questions as long as you dont mind answering.....Janb(appreciated your trip report and synopsis) and Kathleenh54 nice to virtually meet you! Again...Paul Potts Videos on "YouTube"!!!

[Topher]

Oh, shame on me for not asking...did they find the fighter pilot?

[Kathleenh54]

Topher, nice to virtually meet you too. Er, I can wait awhile before meeting your dog. :-)

We're looking at renting a house for a week or so in August. It's looking like Manzanita or Cannon Beach. It will just be my husband and myself so we don't need a lot of space. We'll find something, I'm sure.