|| Print ||
|Articles - March 2010|
|Friday, February 26, 2010|
Mack Wiebe has always lived near water; he grew up on the edge of the Columbia River, off of Bridgeton Road, and later moved to San Diego. But now he lives on the water, literally, in a floating house near Sauvie Island.
“I grew up on the river. As a youngster I’d go up on the Columbia every morning. It’s very cool to be on the water and live on the water,” Wiebe says. “It’s a very easy lifestyle.” He laughs. “No yard work.”
Floating homes are permanent houses anchored to a floating concrete block or set of logs. They don’t move, except to rise and fall with the tide, or unless the homeowner decides to move and take her house with her. They come with all the comforts — water, telephone, heat, a complete septic system — of a house on land.
There are a few floating homes, or “floats” in other parts of the state, such as Astoria and Newport, but there are 2,366 such houses along the Columbia and Willamette rivers in Portland. When Wiebe was growing up, most of the floating houses in Portland were occupied by fishermen. More recently they’ve become popular with retirees like Wiebe, who is 75, single men and women, young couples, and anyone with an affinity for water. The floating neighborhoods, or “moorages,” are usually serene, quiet, private docks, connected to land by a thin ramp. They’re often gated. The houses have back decks and big windows. Marine birds, beavers, river otters and other wildlife are a common sight. Most float owners have at least one boat tethered in the area that, on land, would be a driveway.
Floating homes make up a quirky sector of the real estate market. Zoning and environmental regulations make it difficult to build new moorages, so supply is relatively fixed. There was also no sub-prime lending boom for floating homes. Banks consider floats “private property,” not real estate, even though homeowners often own the section of river where the house is anchored. This classification means banks keep floating home mortgages on their books, as opposed to bundling them and selling them off, a practice that contributed to the housing market crash. And because the houses are on water, banks assume there is more risk of damage and require a 20% down payment, which reduces the risk of foreclosure as homeowners are better prepared to pay and less likely to abandon the property.
Despite being insulated from the worst of the housing crisis, floating-home prices have been set back by about two years and some have gone into foreclosure, says Portland realtor Jane Betts-Stover, who specializes in floating homes and owns one herself. “You don’t see them being hit as hard as the land houses,” she says. “Some people have gone into bankruptcy or short sales, but not in the waves and the numbers that you see in Oregon City.”
Betts-Stover says soft prices mean it’s a great time to buy, considering that many floating homes are on the market for less than $180,000 with lots of room for improvement. “I think they’re little gold mines. Down the road anybody who’s got a floating home is sitting on a gold mine.”
Wiebe and his wife, Meredith, 72, don’t consider their home a gold mine. “I just enjoy being able to look out each evening and see the water going by our house,” he says.
Wednesday, October 22, 2014
Peter Lizotte at ACME Business Solutions and Roger Busse at Pacific Continental Bank share their favorite reads.
Monday, November 10, 2014
BY KIM MOORE | OB RESEARCH EDITOR
A market for low-carbon transportation fuels has a chance to flourish in Oregon if regulators adopt the second phase of the state’s Clean Fuels Program.
Wednesday, October 22, 2014
BY KIM MOORE
Fred Ziari aims to feed the global population.
Thursday, December 11, 2014
BY APRIL STREETER
Democratic gains pave the way for a revival of environment and labor bills as revenue reform languishes.
Tuesday, December 09, 2014
BY LINDA BAKER
On the eve of the Portland Ad Federation's Rosey Awards, Matt Anderson, CEO of Struck, talks about the transition from creative director to CEO, the Portland talent pool and whether data is the new black in the creative services sector.
Thursday, December 04, 2014
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
Nothing says startup culture like a ping pong table in the office, lounge or lobby.
Wednesday, October 22, 2014
BY JESSICA RIDGWAY
Most smartphones come equipped with speech recognition systems like Siri or Cortana that are capable of understanding the human voice and putting words into actions. But what if smartphones could do more? What if smartphones could register feeling?
|A Complex Portrait: Immigration, Jobs and the Economy|
|Woman of Steel|
|Kill the Meeting|
|Debate surrounding Washington-Oregon I5 span heats up|
|Watchdog group takes issue with timber company's 'green' label|
|Labor dispute at the ports slowing Christmas deliveries|
|Fed stresses 'patience' regarding interest rate|
|Obama to announce end of Cuba isolation|
|Energy prices drop cost of living in US by most since 2008|
|Russia's attempt to slow ruble freefall fails|
Is your business ready to join us in the call for action? This opening panel includes Oregon businesses who will discuss why they signed the Oregon Climate Declaration, the investments they are making to reduce carbon emissions, and how their actions are affecting their companies.
Get ready for two days of special events produced with the EPA, Portland Timbers and ISOS before and after the GoGreen Conference on October 16.
How sports tourism is driving economic growth and making cities across Oregon a better place to live.
Port of Morrow's business-ready attitude has a surprising global impact.
Through its support of the arts, the Cultural Trust is strengthening the business community.
Heed the morals of these seminal holiday stories in your everyday life.
Amy will practice in the firm's Business, Real Estate, and Tax practice groups.
While the Bend City Council ultimately upheld the approval which enables OSU-Cascades to move forward with the 10 acre site, it did also thoughtfully consider the nature of its code requirements, resident concerns and OSU-Cascade’s efforts and suggestions and crafted conditions of approval to address potential impacts of the site in the area.