Keeping you up to date on Oregon Coast Real Estate News

 

Jan. 22, 2018

Ocean Equity Wins Beautification Award

CONGRATULATIONS BRODIE!

The first 2018 winner of the Beautification Award is Ocean Equity Real Estate & Investments, LLC! This award was presented to owner Brodie Becksted by the Newport Chamber of Commerce on January 19 and it is well-deserved!

In November of 2016, Brodie purchased the 6000 square foot building, a 1928 concrete block structure that was originally a service station and known as "The Gateway to Newport." He and a myriad of contractors spent the next 5 months gutting and completely transforming the exterior and interior. The run-down old building received a major renovation and was now totally unrecognizable, with modern finishes and nautical touches. By April, he had moved all the brokers in and they were ready for business.

It's been smooth sailing since then, and with plenty of space for more brokers, Ocean Equity has become the largest Lincoln County brokerage south of Lincoln City in just a few months.

Brodie has plans in the spring to add sidewalks and more landscaping around the building. He has truly made a commitment to improving this community one building at a time.

Come see the transformation at 1107 SW Coast Hwy in Newport!

Posted in Ocean Equity News
Jan. 17, 2018

Top 5 Ways to Increase Curb Appeal

What's the most important thing to think about when selling your home?

CURB APPEAL! No doubt about it.

How many times have we heard buyers say that they drove by, looked, and didn't even want to go inside? Too many to count! Here's how you can ensure buyers like what they see on the outside so they will want to tour the inside.

1) Paint the Exterior -- A fresh coat of paint on the siding and trim will make all the difference. Think about using neutral hues such as taupes, grays, and putties, something that will make the house blend in with surroundings and exude a cozy vibe. Painting all the trim white around the house, eaves, windows, and doors will make those accents pop. White or cream with darker trim is the latest trend, showing more of a modern look. Don't forget to paint your garage door, mailbox, decks, and fences.

2) Landscaping -- Simply keeping the lawn cut and green, bushes trimmed, and trees pruned packs a punch when it comes to curb appeal. Planting annuals to add seasonal color to flower beds, replacing wood bark, and removing weeds from planting areas and cracks in the driveway makes a big difference.

3) Remove Outdoor Clutter -- You don't want other items to detract from showcasing your home. Store extra vehicles, boats, trailers, etc. offsite. Keep garbage and recycling receptacles out of sight. Limit seasonal decorations, store any garden items, kids toys, sports equipment, and definitely pick up any litter.

4) Maintain the Roof -- The roof is one of the main concerns for buyers. "How old is the roof?" is a common question. If the roof looks old, the house may be deemed as a "fixer" and most people aren't interested. If you haven't replaced the roof lately, at least make sure that the moss is removed and any missing shingles or tiles are replaced. If you have a cedar roof, clean and seal it with an oil based wood preservative.

5) Create an Inviting Entry -- People's eyes are drawn to the entry of the house, so make sure your front entry is appealing! Paint or stain your front door and replace the hardware so it looks shiny and new. Add pots of floral color that frame the doorway or porch in a symmetrical way, sure to please the eye. Replace the doormat and keep it clean and free of clutter.

Those 5 items will get you going on improving your curb appeal and getting it ready to list on the market! Leave a comment if you have any questions or further ideas.

Jan. 10, 2018

Flood Risk on the Oregon Coast

waldport real estateIs my new home in the flood plain?

When looking to buy Oregon Coast Real Estate, this is a question that must be researched. In our area of the Central Oregon Coast, there are a multitude of flood designations, each associated with a different level of risk. In an area like Lincoln County, which is hilly and full of rivers and waterways to the ocean, flooding may occasionally occur in the winter months between October and April. A perfect storm of heavy rains and snowmelt is usually the culprit. Add high seas to the equation, and areas around rivermouths are most at risk. Although flooding is not a common occurrence, only happening once or twice a decade, mortgage lenders do take it seriously and want their investment protected. Lenders will require flood insurance for any home located within the flood designation according to the current FEMA maps. Flood insurance can add to your monthly payment, so it's a must that you find out IF the house is in a flood zone and HOW MUCH the insurance is going to cost.

What about tsunami?

Any home at a low elevation could be deemed likely to be inundated in a tsunami event. Waterfront homes at a lower elevation could be seen as riskier and have high insurance premiums--as high as $12,000 per year in certain areas.

How do I know if my house is in a flood zone?

The best way to start is to contact your insurance provider and give them the address. They'll be able to tell if the home is in a flood designation area. You may need an elevation certificate in order to obtain a quote on insurance. There are some good websites that can give you more information:

Address Search on FEMA Flood Maps: https://msc.fema.gov/portal/search

Oregon Hazvu, which will list other hazards other than flood for a certain address: http://www.oregongeology.org/hazvu/

Talk to your Ocean Equity Realtor for guidance in this arena. We deal with it all the time!

Jan. 8, 2018

5 Most Common Repairs on a Coastal Home

oregon coast real estateIn our area, most every real estate purchase includes a buyer-ordered home inspection, which includes whole-home, pest, and dry rot. We see these reports every day and there are a few findings we see over and over again in our coastal homes. Here are the Top 5. If you're selling your house, it's a good idea to make sure these items are taken care of if necessary, before the home inspection occurs.

1. Smoke Alarms - If the smoke alarms in the house are over 10 years old, they will get called out every time, whether hard-wired or battery-powered. New code says they must be replaced every 10 years. Battery operated detectors must have a 10-year lithium battery and a hush feature, and hard-wired units must have a back-up battery in place.

2. Carbon Monoxide Detectors - Fire Marshal regulation mandates that CO monitors be installed in any home with natural gas or propane, a petroleum-based heating source, a wood burning stove, or an attached garage. These monitors should be placed in the home on each level of the home and within 15 feet of sleeping areas or in each bedroom.

3. Water Heater Straps - Code says two seismic straps must be installed on the water heater to keep it in place in case of an earthquake. One strap should be on the top third of the unit and the other on the bottom third. Not having this in place can delay your transaction.

4. Dry Rot - Anywhere you have unpainted or untreated wood where water can make contact with it, you will eventually have wood rot, or dry rot. The most common places to see it are on the trim around the exterior of the house, especially on the corners of the home, the window and door trimming, and the garage door trim. It is also very common in decks and support posts. It's easier to prevent than remedy. You can prevent it by keeping your exterior wood painted or treated. 

5. Broken Window Seals - Because of the stormy weather we sometimes have with high winds and rain, double paned windows can flex and moisture can make its way inside the argon gas seal within the two panes of glass. After time, this moisture will build up and make the window appear foggy and/or have spots in it. This not only hampers the amount of light that comes through the window, but also your view.

These common repairs are easy to fix and should be dealt with before your home inspection is performed in order to ensure a smoother transaction.

Dec. 23, 2017

Christmas is about Giving at Ocean Equity

oregon coast real estate

   In the generous spirit of the holidays, Ocean Equity has collected an abundant amount of gifts to share with local children's charities. Our brokers brought in new and wrapped toys and clothes earlier in the month, piling them up under the Christmas tree. Later, as admission to our Christmas Party and Open House on December 15, each guest brought a new wrapped children's gift to add to the tree. Local service organization, Fishermen's Wives, came in to collect and distribute the gifts to local children and families.

Happy Holidays!

Posted in Ocean Equity News
Nov. 7, 2017

Building Renovation is Complete!

 Looking Good!

Ocean Equity's flagship building, "the Gateway to Newport," is complete! Full interior and exterior renovation began in early 2017, and was finished enough to open for business in April. The design style follows Brodie's modern industrial preferences--concrete floors, open beam ceilings, quartz counter tops, and lots of windows. After the initial opening, other projects remained, however, including finishing out small rooms in the building, replacing the entire sewer line, and complete overhaul of the three residential apartments on the second level.

Right on Highway 101, the 1928 building has been a Newport landmark for generations. First as a service station, and later as a multi-storefront complex for many businesses over the years. The sprawling 6000 square foot building has room for all Ocean Equity's great brokers, support staff, and clients.

An Open House is planned for mid December. More details coming soon. Come by and check out the new building!

1107 SW Coast Hwy. Newport, OR 97365

Posted in Ocean Equity News
Nov. 6, 2017

Avoiding Sticker Shock - Know Your Closing Costs

 If you're not expecting it, closing costs can cause quite a sticker shock! Talk to your Realtor and lender about what you can expect.

 What are closing costs?

Closing costs are made up of a variety of fees involved in your real estate transaction. For buyers they can include loan fees, title and escrow fees, and prorated taxes and insurance. For sellers, they can also include real estate commissions. The total amount is paid out of pocket at closing, and is added to the amount of your down payment. It can cause sticker shock when you realize at the end of the transaction that you will need thousands more than you had planned on. Loan fees are usually around 1% of the purchase price, so from there your Realtor can give you a good estimate on what you're looking at.

What are your options for paying closing costs?

If you don't have a lot of cash on hand, it's pretty common to work closing costs into the negotiations so that the seller credits an amount toward that cost at closing. One way of doing this is increasing the purchase price in exchange for a credit toward the buyer's closing costs. To the seller, the bottom line remains the same, but to the buyer, it means more money in your pocket that you can put into your new property. Some loan programs will allow you to wrap up the amount of closing costs into your mortgage. Then, rather than paying cash in a lump sum, you're paying on it over time, with interest.

Your Realtor and your lender can provide an estimate of your expected closing costs. It's good to keep your total budget in mind when shopping for a home.

Call Ocean Equity today to get started! 541-265-8303

1107 SW Coast Hwy Newport, OR 97365

Serving the Central Oregon Coast