Know Your Finances

The first thing that you need to be aware of before you decide to buy a beach house for sale is your personal financial situation. Can you really afford to have the beach house if there are no tenants for a period of time. Depending on how you file your taxes losses on a rental property may be tax deductible, but a tax refund in April won’t help you pay your mortgage in December. Also make sure that you don’t forget about all the other costs that you will incur by renting the property out. These costs include, but aren’t limited to, management, maintenance, and cleaning fees, insurance premiums, and property taxes. Also always give yourself enough room so that if something goes wrong with the home you’ll have the resources to fix it.

One important expense, and one many people forget to take into account is the expense of traveling to take care of the property. Most people try to find rentals within a hour to 45 minutes of their home because of this, but if its not possible for you, travel expenses to your rental property can be a significant part of your budget as well.

Know the Local Market

Before you buy a property that you want to turn into a rental home, you should also know the local market. You can find out about it from a trusted local real estate agent or by doing some research online. You should know what property prices have done in the past few years and how much you could stand to make both optimistically and conservatively. Keep the future in mind as well. Are there any infrastructure improvements going in that could cause more tourists to come or go elsewhere?

Only you can know if it’s the right time for you to get a beachfront rental property along Oregon’s coast. Before you buy you should have your personal finances to the point where the property won’t be a burden to you and you should also know whatever you can about the local market. Doing this will allow you to make an educated buy and grab a property that will give you a revenue stream for years to come.

Employment in trade, transportation, and utilities accounts for one in five jobs in Oregon, but you may also want to consider that the hot housing market between 2005 and 2007 made construction start booming as well. With all of the investment in the housing market and public highways construction experienced a twenty five percent growth giving it the ninth fastest construction growth rate in the United States. This growth has also provided a lot of other opportunities for people in other job fields.

The top ten employment industries include: Food services and drinking places, Administrative and Support services, Specialty Trade Contractors, Construction, Ambulatory health care services, Hospitals, Computer and electronic product manufacturing, Food and beverage stores, nursing and residential care facilities, General merchandise stores, and Merchant wholesalers, durable goods. With all of these excellent opportunities a person should not have a problem gaining employment that is sure to last.
If you have given thought to purchasing some real estate in Oregon so that you could take advantage of all of the natural resources and enjoy all of the wonderful attractions of this magnificent state, now is the perfect time to do it. There is a lot of information available to help you know about some other things that you can look forward to when you decide to make the move.

Oregon is our country’s 33rd state to join the union. It is the 9th largest state with over 98,000 square miles with 3.7 million people (ranked 27th) living in the state. If you do the math on that you can see that there is an awful lot of space to move around. The open terrain of Oregon is vast and beautiful. The elevation of the state ranges from sea level (where the Oregon meets the Pacific Ocean to it highest point on the top of Mt. Hood at 11,239 feet.

Oregon Has some of the most beautiful views to offer with several mountains ranges. The Cascade Mtns. where Mt Hood is located has many lakes. Crater Lake is the deepest lake in the country, at a depth of 1,932 feet. The Klamath Mountains are covered by dense forests. The state has one tenth of the nation’s timber. The state provides more lumber than any other state.

The state has some of the best weather as well. It’s average temperature ranges from 32 degrees to 86 degrees. The average rainfall in the state is only 46 inches. Which is a great thing when you’re planning a trip to Oregon.
Oregon is gearing up with plans for their 150th anniversary celebration. Outside of all their year-round activities, the state is planning so much more in 2009.

Whatever reason you have for going to Oregon, you won’t be disappointed with your visit. There is so much to do and see that you will run out of vacation before you run out of things to do in Oregon.

In some areas of the country, this is the time to shop around and pick up some deals. Where do you go to find those deals? Just like any other type of bargain shopping you may do, you have to look around and see what’s available. Not just for the house itself, but also for the area that the home is located. What is the condition of employment in the area? How are the income of the jobs that are there? Is the crime rate below the national average? Are the foreclosure rate higher than the national average? There are other issue involved also when looking to invest in real estate.

One area that I look at is central Oregon. Deschutes county is the one that I’ve been seeing for sometime growing at a good pace. People are still flocking to the area for many different reasons. A recent report came out that Deschutes Country is on pace to out pace the state of Oregon. Jobs are stable in the area, the crime rate is below the national average and as for foreclosures, that too is below the average.

I find that central Oregon real estate is favorable when compared to the rest of the country. Their economy is growing at a rate that beats the most of the other states. The property values have come down, but not as much as others areas of the United States.  Once this national crisis is behind us, you will see that central Oregon will be a leader in real estate investments. Now might be a time to get in on it.

Here’s a list of some local Central Oregon employment agencies that might be able to help you find your next job.

Cardinal Employment Svc
505 SW Millview Way # 200
Bend, OR
541-389-4259

Certified Personnel Svc Inc
1707 N Highway 97
Redmond, OR
541-504-9675

Coic
16493 Bluewood Pl
La Pine, OR
541-536-5380

Employment Service
2158 Se College Loop # B
Redmond, OR
541-548-8196

Hampshire Group
1900 Ne Division St # 204
Bend, OR
541-382-6239

Opportunity Foundation
835 E Highway 126
Redmond, OR
541-548-2822

Staffing Services Inc
846 NW Colorado Ave
Bend, OR
541-318-5950

Maybe you’re looking for a place to update your resume for you, Here’s two places in Central Oregon that can help you with that.

Officist
Po Box 1946
Redmond, OR
541-923-8303

Type-Rite
506 Ne Franklin Ave
Bend, OR
541-388-4495

Furthermore you might want to apply to some of the larger employers of Central Oregon. They include St. Charles Medical Center, Les Schwab Tire Center, Bright Wood Corporation, Sunriver Resort, Mt. Bachelor, Columbia Aircraft, T-Mobile, Contact Lumber, ISKY, Qwest (US West), Safeway (Region Wide), Wal-Mart (Region Wide), Bend Memorial Clinic, The Parr Company (Region Wide) , Fred Meyer (Region Wide) , JELD-WEN Windows & Doors, Kah-Nee-Ta Resort , Cessna (formerly Columbia Aircraft), Hooker Creek Companies (Region Wide), Athletic Club of Bend, Costco and Ray’s Grocery Stores (Region Wide).

One of the best tips for relocating that we can offer you is to throughly check out the job market before you move. Central Oregon has many wonderful opportunities, but like anywhere, jobs that you are qualified for may be hard to find.

In central Oregon the price have come down, but nowhere near of most areas of the country. The hardest hit area was in Bend Oregon, where the average price dropped 16%. In Prineville, the loss was only 1.4%. Take into consideration that with the correction in Bend, the average price is still 5% higher than it was in 2006 and nearly 50% from where it was in 2003. If you invested in a median priced home in bend Oregon with the price of 195,000 in 2003 and rented it out for that time you would have collected $58,000 in rent (clearly enough to cover the monthly mortgage payment with 20% down. On top of that, the value of your property would have increased almost 97,000. I’m not going to go through all the math here in this post, but you get the picture.

Central Oregon has become an ideal area to live for a lot of Californians who are wanting to re-locate away from the “too big of a city” life. Places like Florida are falling out of flavor with the baby boomers and Oregon is the place that offers a lot to do for the active retiree in an area that pretty much has a better climate all year long. Bend is in the heart of central Oregon, it’s only 3-1/2 hours east of Portland and the coast. It’s also only 16 miles outside of Redmond International Airport. Business’ are moving to Oregon too and with communities that are being built on a regular basis (even during this correction), right now just might be the time to think of investing in central Oregon real estate.

Depending on what type of improvements you want to make, when you go and sell your house there is only so much that you will get as a return on your investment (ROI). The price for the materials to do the project has gone up, the return on those projects have gone down In the last five years (2003-2007). The return on a core project in 2003 would be 82.5% (nationwide), but as of 2007 the estimate ROI is only 70%. A steady roll downward for the last 5 years except in 2005 where it spiked to 86.7%.

These statistics are based on nationwide reports and surveys. One project done in two different climates will yield different returns. Most commonly affected is pools. The pool will have a better return in States like Florida and California than it would in the northeast (New England) area.

A site that I found lists the projects as well as their return on investment. The site is Remodeling magazine.com. According to them the best ROI project is a (wood) deck addition with a return of 85.4%. Following behind that is siding replacement (83.2), minor kitchen remodeling (83%) and to finish out the top five would be window replacement (wood 81.3%) and (vinyl 79.3%).

The site also added some upscale projects estimates, as a deck built with new composite materials which have a long life than the wood decks.

If you’re someone who is looking for a good deal on a house (I know there’s a few), This list can help you in more ways than one. The list can give you a starting point in your negotiations. If you’re like me, you’ll know how to shop for better pricing than the list. Play your cards right and you can save a bundle.

There are several cities/towns to choose from. The biggest city in the area is Bend, beyond that the rest are smaller. Towns like Redmond, La Pine, Prineville, Sisters Madras, Sunriver. Bend, Oregon has approx. 77,000 residents & with a city that covers 32.0 sq mi. (83.5 km), it leaves room to grow. The city has grown 50% since 2000. It will continue to grow at an above average pace for the next few years. The pre-existing homes for sale listing has increased year over year. New construction homes have grown too, which may explain why more pre-existing homes are listed.

As for employment in the area, there are many fields that are looking for new blood. The city approved the zoning for the Old Mill District few years ago and it has changed the face of the area while saving the historical past. The availability of jobs helps to support the growth of the real estate in the city. Other career opportunities in Law, Forestry, Sales and Chemist.

Thinking of Investing? The area is perfect for the investor who knows that real estate is important to his/her portfolio. Rental properties that are ran properly show positive cash flow. A 2/2 single-family home can be purchased around $150,000 – $200,000. Rents in Bend go for $800 – $1200. per month. Vacation rentals are on the rise since hotels and eating out are also rising. During the Winter, the skiing in Oregon is fantastic, while in the summer rafting and canoeing is great on the Deschutes River. Rates with vacation homes cost the same if not cheaper than Hotels/Resorts in the same area. Commercial property may be a good choice too with new businesses coming into the area. The vacancy rate in commercial real estate is quite low, if not close to non-existing. New shops & strip malls are being built on a regular basis. Feel like developing your own project? Vacant lots are available to do just that.

Central Oregon real estate is something that should be looked into no matter what your real estate interests may be.

Whether you’re a first time home buyer or an investor, you will find everything you’re looking for. From family friendly neighborhoods, to custom homes with breathtaking mountain or river views, resort properties, acreage, cozy ranches, or a relaxing vacation condo, the selections in Central Oregon area are vast enough to fill the demands of all.

photo credit: Shamanic Shift

Central Oregon is comprised of many different areas all with their own terrain and uniqueness. High desert terrain offers something for everyone from whitewater rafting to peaceful mountain retreats. Hike or fish along sparkling rivers, walking through forests and quiet meadows.

The cities that make up this are are:
Bend
Sunriver
Sisters
La Pine
Redmond
Prineville
Crooked River Ranch
Eastern Oregon
Steens Mtn

Together or alone, these areas boast some of the most beautiful and sought after scenic areas in the entire state of Oregon. You’ll find neighborhoods and homes that fit with the diverse lifestyles of those who are relocating to the area.

With nearly 300 days of sunshine per year, The Central Oregon climate is a dry high desert atmosphere with little precipitation. Most of the precipitation arrives during the winter months and falls as snow rather than rain like the western half of Oregon. Because of the dramatic climb in elevation, Central Oregon’s weather will vary depending on the town you may be in. Sunriver will have snow pack nearly all winter long, whereas Redmond stays mostly dry. Bend lies somewhere in between with a snow fall usually resulting in melting by mid-afternoon. Average temperatures during the summer reach over 80 degrees while winter can get chilly with an average maximum temperature of 41 degrees. Oregon covers 98,386 square miles and has a population of 3,421,399 people. Oregon’s capital is Salem, which has a population of 136,924.