Oregons Coastal Housing (Coos Bay, Newport, Lincoln City: mortgage, real estate, for sale)

[Topher]

Anyone have any idea about what the economists might be saying about Oregons real estate boom? Is there no cap in sight or has the market started to slowly level off? Appreciation rate is a buyers nightmare.

[freedom]

I know about the southern coast and it has stopped climbing in most categories, some have adjusted their prices as much as 20%. Developers had a heads up and have some large projects on the boards, 3 + thousand homes just in Brookings. This is a smart time to shop, the trend on property is similar to stocks, it always goes up over time, and very little of it is being produced. Unless its the Big Island on Hawaii, with the active volcano.

[Topher]

Freedom,...I may be a knucklehead but I have always wanted to see pretty much the north coastal area extending up and into Washington,perhaps. What gets me concerned is this...My city was rated #37 in the nation to live with population over 100,000. ( appx. 140,000 right now ). While I have lived here for going on 30 years I feel the need for change in this chapter of my life's book.Even with all it has going for it, the housing market is actually in the negative area due to Michigans depressed economy. As a somewhat "younger" retired person, I have built up a nestegg whereupon if I just left things as they are, could enjoy a comfortable lifestyle with loads of travel.I also have no children, college expenses,etc...Looking at home sales in Oregon and specifically the coastal regions I'd like to consider, the house appreciation is off the charts, some places near 20 % increase since 2000 alone! I would like to rent for an extended period as has been suggested, which is the prudent thing to do, but feel as if the longer you wait the more you will definately pay when it comes to living in Oregon. Have too though, due to your weather...see so many" I loved it here but in the end couldnt make it work out" stories on this forum. Was considering coast living as my future "base" home..Dont want to be mortgage poor!!

[wohelo]

Great question and yes rent on the coast during the stormy months and tourist months to get a real feel of the place. I have just finished my coastal experience (one year rental) and really can't commit to living there full time because of the following:
Mold allergies
Distance and drive over the coastal range to major airport
Homes in my price range 275,000 were very old and needed alot of home repairs (new roof -wind damage, paint, rust removal, sand difts, and fleas in some homes).
Distance to hospital drive to Florence, Newport or Lincoln City for care was not an easy drive (windy road with slow RV's).

I think the coast is a great place to live and yes the prices will vary from town to town. The closer you are to services the more expensive the homes. Many locals recommend living a tad more inland for affordability and a great escape from the wind and fog for example Toledo for Newport.

[Topher]

I pretty much feel the same way about Oregon at this point. I am to old now to want to start all over again fixing up a home in need of repairs or changing it for updates. Been there, done that as a younger guy. Problem seems to be that getting anything in good or newer condition spikes the costs considerably. I realize that Michigan is not Oregon, but although we may not have as many beautiful landscapes (and alot of people would beg to differ,we are the "Great Lake State") the housing market blows me away when comparing dollar for dollar. My home here is probably worth low 200's. 3 br ranch, florida room, year round attached all season curved glass solarium,large lot, large koi pond in back yard with falls.etc..etc... This house would easily be over 1,000,000.00 in your state from all the real estate sites I have surfed. Not bragging, just saddened that if I sold this house, it would really only amount to a good down payment on a home that is at best one not in need of alot of work. Hope my upcoming visit dispells some of the doubts I have. I really,really think the state is beautiful but at a significant cost...Are condominiums sparse along the coast. Doesnt seem to be alot to choose from. Think that would be best for me as a possible part timer.

[sunnymom]

I too, absolutely love the Oregon coast as I grew up in Oregon and my grandparents had a home right on the beach. However, living in Southern California, it would not make sense to have a vacation home/part-time home there because on our visits we would be too busy maintaining it as the weather is hard on everything. Did you think to possibly take a 5th wheel or motorhome for extended visits there? The Oregon State Parks are awesome to stay in. Having a motorhome is what we decided, that way we can move around when we are on the Oregon coast and leave when it gets to be too rainy and wet. Just a thought for you as there is nothing like being mobile. Best wishes.

[Waterlily]

I don't think anyone could say what the future is going to be like for housing prices. The last time I checked on any figures most of Oregon was still going up in price.

If you want the most for your money then check out all the towns within the areas you are considering. There can be a price difference from one town to another. I know there are some condos out there as I've seen them for sale on the north coast. It's just going to take some time to research the place. I often use REALTOR.com to look up homes for sale.

Good luck on your trip to the coast and looking at homes.

[seashelly]

New condo development in Florence, Oregon, and another coming soon to Coos Bay.

[Topher]

As usual appreciate your inputs. Will take what was suggested to heart.As far as the fifth wheel, even though its a pretty good idea i probably would find it easier to just go by car...just lil old me. Condo that I can just lock and go would be best I thnk. Isnt Florence one of those perhaps too sleepy towns loaded up with older retiree's? Dont want to discriminate but i am at the younger end of the spectrum and would like to have some neighbors in my age group,...40's-50's.