Help Me Find My Neighbors!

Foreclosed Florence Home in My Neighborhood, Mercer Lake Heights--There's a lonely home looking for a family. Yup, the home directly across the street from me--I live in Mercer Lake Heights--is empty, has been for a whole year, the unfortunate result of a foreclosure. The neighborhood I live in is great, and not just because I live there. It's quiet, it has a family of deer and a family of black bear, all the neighbors know one another, nearly everyone has a dog or a cat, it's in the county--no city taxes--but it's only 10 minutes from Old Town's great boutiques, restaurants and our gorgeous little harbor. And--hard to believe--our homeowner's association owns a dock and picnic area on Mercer Lake, one of the area's most sought after lakes for its beauty and great fishing. A few steps away from this home is an open space with a couple of chairs perched on the edge of the ridge. The lot is owned by the next door neighbors but he and his wife let everyone snug up with their honey and drink in the beauty of the Northwest, the lake and the towering trees. The home is about 1500 square feet, simple ranch style, sunken living room, plenty of kitchen cabinets and a sunny south facing deck. What more could you ask for? This cute foreclosed home is listed for $155,000 but no doubt you could get it for less. So if you want to know more about banana belt living in Mercer Lake Heights and what it means, let me know. I'll even share a banana with you, my treat! www.oregonflorencerealestate.com www.twitter.Florence_OR.com

Florence Oregon Foreclosed Bank Owned Homes

Florence Oregon Foreclosed Bank Owned Homes There are 13 foreclosed bank owned homes listed on the MLS right now, much fewer than before. Even though that's a small number, the selection is quite varied, offering Buyers just about everything by way of location, price and amenities. The least expensive is $79,050, a fixer on .24 acres north of the Florence city limits. Even though it's right on highway 101, it's worth looking at as an income property or two family living since Lane County has it listed as a duplex. It's been added onto over the years since it was built in 1944. The most expensive is $390,000, a brand new custom home, never lived in, over 3,000 square feet, located in the south lakes area with a seasonal peek of a beautiful coastal lake. In between are two river front properties, one in Mapleton and one in Florence, both nearly new, priced at $227,000 and $225,000 respectively. There's one home that is lake front--there's a steep path to the lake--with a shared community dock, 2,400 square feet, two separate living areas, older home (1973) but mostly updated. It has a strong financial record as a vacation rental so this one would make a good income property. If you want some elbow room, there are two or three homes on large lots, about half an acre. And if you need bedrooms or two family living there are three homes that fit the bill. There's even one condominium for sale for $99,800, two story, close to Peace Health Hospital. If you're interested in purchasing a bank owned property in Florence, Oregon, recently name one of eight coastal towns that are bargains for real estate by "Where to Retire" magazine, the time may be now or never. www.oregonflorencerealestate.com, www.twitter.com/Florence_OR

Florence Named Number One. Again.

Florence was named THE number one retirement community by "Retirement Places Rated" in August 2004. People flocked to my town, Paradise on the Pacific, driving up real estate prices. New homes popped up overnight, like mushrooms after a good rain in our beautiful forests. Five years later, Florence has been named to another List: "8 Fantastic Coastal Sites with Bargains," according to "Where to Retire," January/February 2010. The magazine's subtitle for their article is "Ready for the Rebound: Hot Spots for Retirement Real Estate Discounts." Florence is included with Barnstable, MA, Hilton Head, SC, Whidbey Island, WA and Oceanside, CA, among others. Pretty good company, I'd say. Not only that, our median sales price is much lower than all of these towns, coming in at $205,000 for the fourth quarter of 2009. And we've got brand new homes starting at $180,000. There are lots of folks wandering Bay Street, picking up real estate information and dreaming of relocating, enjoying a phenomenally warm and dry winter, and beginning to learn some of the secrets of my home town. Welcome, all of you! Read the full article at www.oregonflorencerealestate.com under Retirement Living.

Distressed Properties in Florence, Oregon

There are 15 homes for sale in the Florence multiple listing service that are bank owned, ranging in price from $44,000 to $405,000. The home for $44,000 is a tear down on highway 101 north of town. The home for $404,000 is in the highly desirable south lakes area on a quiet dead end street. It was built as a spec. home, has never been occupied and is very nice with over 3,000 square feet. There's also a condo in Old Town Florence for $148,000 and a condo at Florence's only beachfront resort, Driftwood Shores, for $299,500. There are four short sales. My favorite is a 2006 square foot custom home in Heceta South, one of the beach area's most sought-after neighborhoods because of the large lots and the heavy native vegetation which gives homes great privacy. If you'd like the complete list of foreclosed and short sale homes, contact me at hope@hopemacmanus.net or call my cell at 541-991-7480.

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.

A Bungalow by the Sea for You and Me Honey 'Cause Home Prices in Florence Oregon Just Hit Bottom!

Florence, Oregon has seen few foreclosures and only modest home price declines. In fact, many homes in the over $350,000 price range are still overpriced. However home prices in the lower end of the market have come down substantially. The Coastal Highlands neighborhood is a good example. This neighborhood is comprised of modest 3 bedroom 2 bathroom homes built in the late '90's. Folks who live there are police officers and hospital workers with a good sprinkling of retirees. There's one lovely home listed at $155,000 that's on a quarter acre with a fenced yard, 2-car garage, new paint inside and out and new carpeting. That's a good buy in this town any way you look at it. Take a look at MLS #9044819 at http://www.oregonflorencerealestate.com/. I guarantee you, the home looks better than the photos and it's not my listing either! So if you want to live in Paradise on the Pacific, all indications are that this really is the time to buy, especially if you want a sweet bungalow in a pretty, quiet neighborhood. And if you're interested in a list of foreclosed and short sale properties, I have one. Just email me and ask for this free report and I'll send it right along: hope@hopemacmanus.net

I've Got Rocks on My Mind Or Rocking out in Reedsport

Saturday my husband, dog and I took a little trip to the usually laid back burb of Reedsport, about a 30 minute drive south of Florence on Highway 101. It wasn't sleepy! Instead, Reedsportians and lots of folks from out of the area made a beeline to the Reedsport Gem and Mineral Show being held at the community center downtown. What a feast for the eyes and lots of temptations for the pocketbook! My favorite vendor was Bend Beads. www.bendbeads.com. I drooled over their pink saphires, fire opals and most especially over their gold necklaces made in India. I was amazed by the complexity of the links that were all hand-hammered and by the brilliance of the 24 karat gold. Unfortunatley, the necklace didn't come home with me, though no doubt it was priced attractively, but not in my budget. The community center was packed with displays and with lapidarians polishing rocks. There were door prizes and silent auctions for adults and kids. A short stroll away is Thai Smile, a new restaurant that has yummy mango beverages as well as to-die for food. Oh, and yes, I looked around for good real estate deals too--in between shows and food. Want a copy of "Hope's Hot Picks?" Email me at hope@hopemacmanus.net and I'll send it right out.

Florence Oregon Real Estate Sales Report

Tawfik Ahdab, our local Certified Residential Appraiser, prepares sales reports for us every quarter. Here's some pithy remarks from his summary:

"Extrapolating from the current rate of sales since the beginning of this year, the total Greater Florence sales volume for 2009 is projected at about 142 units, which would be 33.65% lower than the already-pathetic 214 sales of 2008. Even with the summer season having begun, there is little evidence of a reversal of the continuing contraction of the Greater Florence residential market...One reason for the current market lethargy is that tightness in the mortgage market persists...The median sale price reached $179,900 in the second quarter of 2009, very near the low registered in the third quarter of 2008.... Most market activity has been at the lower end, with very little action above the $350,000 price segment. This is partially explained by the eager response of buyers perceiving good deals among foreclosure and short sale related listings. It should be noted that the handful of foreclosures on the market tend to be purchased more quickly than nonduress related listings, such that are not just piling up. And although the number of listings at mid-year was within the recent historical range at 487, the months’ supply of listings was up to a record 31.4 months...Much uncertainty remains about the direction of Florence real estate, just as there is lingering concern about the recovery of most housing markets nationally. The silver lining is that purchasers who are able to buy at all are responding to good and even excellent deals in the Greater Florence market.