Tuesday, January 2, 2018

Happy New Year!

2018 is here and I thought it might be a great time to peak at some 'off-season' coastal property deals. I found this clean and charming manny on a giant 0.29 acre lot with an attached garage, in Ocean Park. It's listed by Lighthouse Realty and appears in the RMLS. This is in the middle of the peninsula so you are about a half mile to the bay and a half mile to the beach.

This home has 1440 SF 3 beds and a pair of baths. What I really like is the cozy price of $189k. The Long beach peninsula continues to deliver value with pricing that is much lower than just a few miles south in Seaside.

The coast is an interesting place weather wise. You will get some serious breezy conditions on a regular basis and sometimes those gales to blow. Middle of the peninsula has the advantage of less wind but a bit further to the beach. generally winters are relatively warm compared to inland Portland and summers are relatively cool. The mighty Pacific moderates the temperatures nicely. Don't expect too many opportunities in January to sit on this fancy deck, but summers will be fantastic in this lovely space.

It looks like this new year will continue to deliver amazing values on the Long Beach Peninsula for full time residences or vacation properties. Perhaps even a rental. Happy New Year and best wishes for prosperity.

Tuesday, December 5, 2017

Holiday's at the Beach

The holidays at the beach can be either busy or quiet depending on where you go. December is one of the 'stormier' months and tends to attract storm watchers from the inland areas. Winter storms hit the coast with a special kind of vigor that is not often seen in the Portland Metro Area.

The temperature tends to be a bit warmer along the coast as the mighty Pacific Ocean moderates things a bit. But the rain and wind can come like a tropical storm, sans the warm temps of course. This is winter at the Beach.

As for the holidays the usual buzz can be felt at stores and commercial areas. The Long Beach Peninsula however is much more quiet on the roadways during the Holidays than in big cities like Portland and Vancouver. That can be very nice.

Be sure to head out to Long Beach for the New Year's Eve fireworks on the beach. A five minute deluge of mighty booms and sparks will welcome in 2018 at mid night.

That's all I got this time round, see you next year.

Tuesday, November 7, 2017

Rental and Vacations Homes at the Beach

If you have spent any time reading this blog, you know I have made it abundantly clear that the Long Beach Peninsula is the real estate value of the whole Northwest Coast Line from Brookings, OR to Port Angeles, WA.

So let's say you buy a vacation home at the beach. How does this set with your tax man. First before I write another word on taxes : DISCLAIMER ALERT! I am not a tax professional and am not advising anyone on specific tax matters. Before making any decisions about taxation and its implications on your personal finances, be sure to consult your tax professional.

OK so the IRS has some weird rules regard vacation or second homes and rental properties. Many people figure they will rent out their beach house to others when they are not using it to help pay the costs of ownership. This is fine but depending on how often you rent it, it could change the tax status of the property.

The IRS deals with second homes differently than it does rental properties. If someone buys a second home and they use it exclusively for their own purpose, ie. they do not rent it out, then the IRS allows under current tax law the owner to deduct the mortgage interest up to the limits, currently at a maximum mortgage amount of $1,000,000.

Interestingly according to tax pros, the IRS doesn't care if you rent the second home out so long as it is not more than 14 days in a calendar year. Even if you rented it out for a high weekly rate, so long as it never exceeds 14 days in a calendar year, you are not required to report it. The home remains a second home.

If the house is rented more than 14 days per year it is no longer a second home and is treated differently under IRS rules. It becomes a rental property and it may actually be better in the end but it will become more complicated as the expenses and depreciated are now taken into consideration, checked against the rental income earned, now required to be reported and appropriate taxes paid.

If the rental home loses money, ie expenses are greater than income, this can provide a shelter from taxation for the owner's annual tax bill. However, when the home is sold in the future there will likely be a large capital gain that could hit the home owner hard.

The IRS tax code is a complicated animal and this is why a good CPA that specializes in individual income tax service is indispensable. The whole point of this article is that great deals at the coast aside, owning a beach house either as an investment or second home can be even more affordable that just the price and mortgage payment would indicate. Talk to your banker and your tax pro and see just how affordable that beach house can be. The talk to your local real estate pro and see what's out there. 

Tuesday, October 3, 2017

Another Gorgeous Autumn.

He we go again with the beautiful Autumn. Soon the colors will light up the hillsides and even at the coast things will shift to a cooler, breezier, and colorful season. Sometimes the fall can offer more sunshine than the summertime as the Pacific Ocean also goes through cycles and the marine layer may not be as intense as it is in the summer. We shall see in 2017 serves up some sunny, albeit cool afternoons.

I found this little beach bungalow on the local MLS, listed at just $115,500. Wow, cute, and less than 1/2 a mile from the beach! It is a little 2 bed cottage with a 3/4 bath and sits on a full sized lot at 0.11 acres. About 640 square feet in this charmer.

I also found a larger nearly 1100 square foot house on the bay side but still less than 2 miles to the beach at an wonderful $114,900. It is a 2 bed 1 bath home with a detached garage and some old school hardwoods inside.

The Southwest Washington coast on the Long Beach Peninsula remains an epic value for would beach house owners. This condition may not last much longer however so beach lovers should capitalize now while the gettin' is good.

Tuesday, September 5, 2017

Less Smokey at the Beach

Raging wildfires all across the Western USA have 'inlanders' fleeing the thick smoke and for some the dangerous flames. The heat coupled with the smoke make the coast an extra special retreat for many here in the Portland Metro area where this Labor Day weekend saw sweltering temps tickling the toes of triple digits.

Nothing like a day of 80s at the seaside with a cool ocean breeze caressing your ever so happy face. Such is the life along our beloved coast when the mercury soars inland the days are delightful along the relatively cool Pacific shore.

That's all I have this time around but be sure to check back soon as I am due for another deals at the coast edition of the blog.

Tuesday, August 1, 2017

Triple Digits Inland Equals Big Crowds at the Beach

Holy skin bake, Batman; the heat is on in Metro Portland-Vancouver. Four days of temps playing in the triple digits means thousands will flee the apocalypse to the coast. As if us city dwellers didn't already have enough reason to "escape", these rare high temps will push us by the gazillions towards the great Pacific Ocean.

Ah yes my friends, when the solar furnace overloads inland it generally creates wonderful summer weather at the coast with temps gliding gently into the 80s and the possibly a rogue 90 mark. That is typical weather for Portland-Vancouver but atypical for the beach.

For those who make the Oregon or Washington coast their full-time home, these heatwaves inland can create a bit of a disturbance locally. This is particularly the case for the Long Beach Peninsula which doesn't have quite as much tourist traffic as the Oregon Coast, but during the heat waves the whole coast will be flooded with those seeking refuge from an angry version of 'El Sol'.

Once you are out at the coast, take a look at some real estate. If you choose the Long Beach peninsula you may be delighted to find that their are still reasonably priced homes here. beach houses, vacation homes, or a full time residence, prices in the Long Beach area are pleasantly affordable.

Enjoy the beach this week.

Tuesday, July 4, 2017

Happy Birthday America!

The good 'ole US of A is 241 years old today and Long Beach will once again celebrate with a bodacious display of fireworks all along the beach. Enjoy your celebrations, be safe and come out to the beach for a n amazing display of patriotism and pyrotechnic magic.

See you next month :)