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Oregon coast RE gets slammed...

snigletsniglet
edited October 2007 in Housing Bubble
I am taking a trip along the Oregon coast this week-end (I am writing this post from a cafe in Seaside) and just had to comment on the massive volume of for-sale signs I am seeing along the 101 coast road. There was one spot between Seaside and Cannon beach where there was a for-sale sign on every single road off of 101 for a mile. There are many places where you see clusters of for-sale signs off of 101 when you drive through the coastal towns.

I took a picture of one cluster of 8 for-sale signs in Rockaway that I will try and figure out how to post for everyone when I get home.

As a general observation, I notice that there has been a LOT of development of luxury condos along the coast. They were lots of balloons and inducements (like free coffee/popcorn) to convince people to stop in at the condo sales office in Seaside today, despite the torrents of rain.

Comments

  • SeattleMooseSeattleMoose
    Yep, all it takes is a balloon and some micrPop to make me plop down my life savings on a top of market "luxury" apartment on the mold coast.... :twisted:
  • TJ_98370TJ_98370
    Perhaps Seaside and Cannon Beach are close enough to Portland to be influenced by the "Portland is special" effect.
  • mike2mike2
    I'm jealous. It's been a few years since I did that drive and my mid-summer move disrupted my plans to do it this year. How's the weather? I hit the beach myself last weekend. Low 90's! Hard to believe I needed sunscreen in late September. As far as Beauty goes though the Mid Atlantic can't compare to Oregon.
  • snigletsniglet
    My wife and I finished our trip with a final night's stay at a cottage on the sound near Olympia (in the driving rain, which typified the weather of our get-away).

    This cottage was 8 miles down Steamboat Island road, off of highway 101. In that 8 miles I counted no less than 40 for sale signs. There were several turn-offs with clusters of 8 or 9 signs. It almost seems as if 1/3 of the inhabitants of the area have simultaneously decided to sell.

    Maybe everyone has decided to move to the land of pink ponies in Ballard, Redmond, and Bellevue?
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