When's a Tsunami Coming to Florence?

Lots of people who are interested in owning a home in Florence ask me about tsunamis and the tsunami zone. The Cascadia subduction zone is a fault that stretches from northern Vancouver to northern California. Recent findings concluded the Cascadia subduction zone was more hazardous than previously suggested. The feared next major earthquake has some geologists predicting a 10 to 14% probability that the Cascadia Subduction will rupture in the next 50 years, producing an event of magnitude 9 or higher. The tsunami produced may reach heights of approximately 100 ft. The last known great earthquake in the northwest was in January of 1700. The Great Alaska earthquake of 1964 was the most powerful recorded earthquake in US history, a magnitude 9.2. The resulting tsunami affected Florence as well. Water was pushed up the Siuslaw River until it ran out of steam where the river widens out at the North Fork of the Siuslaw, not far from Florence. Geological evidence indicates that great earthquakes may have occurred at least seven times in the last 3,500 years, suggesting a return time of 300 to 600 years. There is also evidence of accompanying tsunamis with every earthquake. The City of Florence has addressed the question of tsunamis head on. Follow this link for more information, including a tsunami map: http://www.ci.florence.or.us/default.cfm. Click on the link on the left, Emergency Preparedness.

Weekly Mortgage Report

MORTGAGE RATES REMAIN LOW, INCREASING AFFORDABILITY
McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.04 percent with an average 0.6 point for the week ending September 24, 2009, unchanged from last week when it averaged 5.04 percent. Last year at this time, the 30-year FRM averaged 6.09 percent.
The 15-year FRM this week averaged 4.46 percent with an average 0.6 point, down from last week when it averaged 4.47 percent. A year ago at this time, the 15-year FRM averaged 5.77 percent. This is the lowest the 15-year FRM has been since Freddie Mac started tracking it in 1991.
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.51 percent this week, with an average 0.5 point, unchanged from last week when it averaged 4.51 percent. A year ago, the 5-year ARM averaged 6.02 percent.
The one-year Treasury-indexed ARM averaged 4.52 percent this week with an average 0.6 point, down from last week when it averaged 4.58 percent. At this time last year, the 1-year ARM averaged 5.03 percent.
(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)
“Mortgage rates held relatively steady at three-month lows this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. Correspondingly, the Mortgage Bankers Association reported that mortgage applications jumped 12.8 percent over the week of September 18th to the strongest pace since late May, boosted by refinancing activity.
“In its September 23rd policy statement, the Federal Reserve (Fed) indicated that it plans to keep its benchmark interest rate exceptionally low for an extended period. This will likely benefit consumers who opt for ARMs, because they are typically tied to shorter-term interest rates. The Fed also noted that activity in the economy and housing market has picked up and financial markets have improved.”
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

Carbon Monoxide Detectors Mandated by HB 3450

The Oregon legislature passed HB 3450 in June mandating residential carbon monoxide detectors under the state building code. This requirement becomes effective in April of 2011. Carbon monoxide detectors will also be required in all residences with a carbon monoxide source at the time of sale under State Fire Marshall rules also to become effective in April 2011. Until the rules are adopted and the time of sale requirement becomes effective, no change in real estate practice is necessary.

Condos in Florence Oregon

There are 53 condos for sale in Florence now ranging in price from $110,000 to $479,000. The condo at $110,000 is an apartment conversion about 10 blocks from Old Town. The condo listed at $479,000 is in Old Town with views of the Siuslaw River in a beautiful building with elegant tiled courtyard outfitted to appeal to those who love Tuscan themes. Secure parking on the ground floor of the building combined with a market and gift store offer the discriminating buyer just what they need. The best deal in a condo is on Jasper Lane. Priced at $129,00 with 1368 square feet and a garage, it's a good investment whether you live in it yourself or rent it out. My favorite view condos are the Bay Bridge Condos. Built in the 1980's, many of these condos have fabulous views of the river and the Glenada Dune on the south side of the river. Sunsets are spectacular. There are two units for sale both priced at $299,000. One is 1500 square feet; one is 1048 square feet. The smaller unit is ground floor on one level. The larger unit is two level. Both have covered carports and outside storage. Home Owners Association Dues range from $75 a month at Cedarwood (there's a nicely renovated unit there priced at only $114,500) to $319 a month at Bridgeport Landing. If you'd like further information on condos in Florence, email me or call me at 541-991-7480. www.oregoncoastrealestate.com

Native Americans in Florence Oregon and the Oregon Coast

The earliest written record of life along the Siuslaw River comes from the journal of Alexander McLeod of the Hudson's Bay Company. In the mid-1820's he led a fur trapping brigade to the coast and came as far south as the Siuslaw River. He described the Native Americans he met as "peaceful and industrious." Fur trappers and traders would have ongoing good relations with coastal tribes until the middle of the 19th century when political events would forever alter the way of life along the coast. First, the bill that created the Oregon Territory passed Congress in 1848 and Lane County was formed by act of the territorial legislature a couple of years later. Then in 1855 a series of treaty conferences along the Oregon coast obtained the signatures of the heads of almost every Native American group between Tillamook Bay and the California border ceding more than 2.5 million acres that were never paid for as had been agreed upon. They were forced onto the Siletz Reservation which originally extended from Tillamook County to the "outlet of Tahkenitch Lake" south of Florence and stretched to the crest of the Coast Range. In 1865, the reservation was further decimated when it was cut into two parts, a wide swath being taken out of the middle so that non-Natives could exploit the oyster beds in Yaquina Bay. Then once more, in March 1875, the southern part of the reservation, including the Siuslaw Valley, was opened to non-Native American settlement. Most Native Americans moved to what was left of the reservation. The census of 1910 showed only 7 members of the Siuslaw Indian tribe living in the valley. Taken from "The Florence Book" 2008 Revised Edition, The Siuslaw Pioneer Museum

Florence Oregon Real Estate Market Report Summary for August

There were 467 active listings in the Florence Multiple Listing Service in August compared with 542 in August 2008, a decline of 13.9%. This decline may reflect sellers choosing not to list their home for sale in a very soft market, hoping for a better market in 2010. The Florence MLS includes homes north and south of the Florence city limits, and east to and including Mapleton. Average home sale price was $220,200 compared with $256,300, a decline of 13.3%. Days on the market increased by 27.5%, from 233 to 297. Closed sales declined by 28.8% year over year; 84 so far this year compared with 118 this time last year. Pending sales were up in August over last August but the Florence MLS is on track for a serious sales decline in 2009, right now, minus 28.8% compared with 2008. There have been no sales of homes over $1 million dollars this year and only 3 sales over $500,000. Since the greater Florence area is a retirement area, we depend on buyers moving here from California, Arizona, Washington and other such states. Until the markets there improve substantially, Florence's real estate market is likely to remain lethargic at best. Foreclosures in such areas as Sacramento and Phoenix are selling rapidly, a positive sign, but there is much more to go before Baby Boomers are able to sell their homes at a good price and relocate to Florence, Paradise on the Pacific.

Vacation Rental Options in Florence Oregon

Florence Oregon has been a popular vacation spot since Boris Karloff stayed at The Lighthouse Inn in the '30's http://www.lighthouseinn-florence.com/ and Clark Gable flew in to hunt and fish from the Lodge on Woahink Lake. Now Robin Williams finds his way to Florence on occasion. Well, if it's good enough for movie stars, it's good enough for the rest of us. Vacation rentals in Florence are as varied as the locales and microclimates in the greater Florence area. For instance, you can stay in a darling cabin at the Park Motel http://www.parkmotelflorence.com/ property south of the Siuslaw River Bridge. Bob and Margaret who own the Park Motel live on site. They'll treat you like family, so be prepared to want to come back every year as my friends from Gresham do. Or how about a family reunion on one of the areas' 18 lakes? This fabulous home has it all, privacy, a dock, swimming, warmth: http://www.florence-oregon-rentals.com/property-detail.php?property=31 and can sleep up to 12 people. You'll feel as though you're in heaven! Here's another idea: check out the vacation rentals by owner website for a whole page of fabulous vacation rentals including several on our lakes. http://www.vrbo.com/vacation-rentals/usa/oregon/central-coast/florence Got an RV and want to rent a spot for a while? The Port of Siuslaw Harbor http://www.portofsiuslaw.com/pages/campground.php is a popular spot and the spaces right on the river are fabulous. Plus you can walk to Old Town for a morning coffee, stop at the river next to The Waterfront Depot for the view of the bridge or for rendering a watercolor en pleine aire or head to The Bridgewater for a brew http://travel.yahoo.com/p-travelguide-22031635R-the_bridgewater_restaurant-i. Don't have an RV but would like to stay in one spitting distance from the beach? Take a look at Mike and Debbies Coastal Hideaway http://www.florencerentals.com/vacrent.htm Always fantasized about sleeping on a luxury yacht? How about Enke: http://www.florencerentals.com/enke.htm What a romantic vacation this would be! So you're only limited by your imagination when it comes to renting a place in Florence. Want inside tips on vacation rentals? Call me and I'll give you the straight skinny, be it mountain, lake, ocean, RV, cabin or tent. I know the area well and can provide you with answers to all the little questions you might have: 541-991-7480. I don't claim to be unbiased because I love all the possibilities that Florence Oregon has to offer.

Getting Involved and Having a Ball in Florence

Once of the most amazing things about Florence Oregon is the amount of volunteerism here. Perhaps it's because many people who live here are retired and have the urge to have something positive to do with their time, perhaps it's because people like to be with other people, perhaps they want to have fun, all good reasons to volunteer. Florence is virtually run on volunteers. Much of what makes Florence special today is because of volunteers: the Florence Event Center, the Siuslaw Public Library, the revitalization of Old Town, the new ice machine which will soon be operational for our commercial fishing fleet, the Florence Area Humane Society, Florence FoodShare, the 102 year old Rhododendron Festival, the Florence Van Fans who take people with cancer to Eugene for chemo and now the new Senior Center just being built--all of these projects have been successful because of volunteers, many of whom are unsung heroes. It doesn't matter how old you are, where you came from, what you did in that other life, there's a volunteer opportunity just waiting for anyone who cares to lend a helping hand. If you're interested in finding out more about volunteering, check out the Florence Meeting Place page in The Siuslaw News, a full page in tiny print of many of the activities in Florence. That's a good starting place. Better yet, when you're in Florence next, ask the person you meet in the coffee shop or at the grocery store who they volunteer with. I'll be you they've got a great answer! And you'll get an invitation to get involved yourself.

Good Eats and Treats for the Vegetarian and Organic Eater

Looking for organic food? Want to crunch a great carrot right off the farm? Florence has a couple of choices for you. The Florence Food Co-Op, located on Rhododendron Drive a 1/2 block off highway 101 on the west side, is a year or so old. It has a lively and interesting group of committed volunteers, many of whom bring goodies directly from farms in the valley to the Co-op so that the veggies are as fresh as any bunny would want. If you're looking for good eats at a restaurant, try Nature's Corner Cafe and Market, also on highway 101 on the west side, 1/2 a block from the much loved and much photographed and painted Siuslaw River Bridge. There you'll find an eclectic mix of Art Deco furniture to plop down on and a menu extraordinaire. I don't think any other restaurant in town has such a fabulous selection of mouth-watering delectables. One of my staples is a black bean taco with yummy salsa and a smattering of fresh mixed greens on the side, all for the tiny price of $3.95. And the water's free. It's the perfectly sized lunch on the fly. Plus there's always entertainment looking out the window at passersby, or you can sit on their outside deck under blue skies and beachy breezes. Before you leave, you might want to pick up a bottle of organic wine and be sure to check out their petite grocery with everything you need to tempt the organic pallette. Of late, Safeway, Fred Meyer and Grocery Outlet carry their own selections of organic vegetables, frozen foods and miscellaneous sundries as well. All you veggie heads out there, Florence has what you need. It takes a veggie head to know a veggie head! So if you need any tips about vegging out in Florence, I'm your gal. www.oregonflorencerealestate.com