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|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.
Friday, May 22, 2015
BY AMY MILSHTEIN
Astrid Scholz scales up sustainability.
Wednesday, May 20, 2015
BY KIM MOORE | RESEARCH EDITOR
An earthquake would completely destroy many Oregon businesses, highlighting the urgent need for the private and public sectors to collaborate on shoring up disaster preparedness, said panelists at an Oregon Business breakfast summit today.
Friday, May 22, 2015
BY KIM MOORE
As momentum grows at the state level to introduce far-reaching environmental regulations, such as carbon pricing and the Clean Fuels Program, Oregon employers continue to go the extra mile to create green workplaces for their employees.
Wednesday, April 29, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
Portland is awash in rideshare options. We ask the head of Flywheel what sets his app apart.
Tuesday, May 26, 2015
BY KIM MOORE
A conversation with Gene Pelham, CEO of Rogue Credit Union.
Monday, April 27, 2015
BY JOE CORTRIGHT
The Knight challenge is an important instance of philanthropy. But we should not assume it will magically transform OHSU into a business- and job-spinning engine for the local economy.
Friday, May 22, 2015
BY JACOB PALMER
A Power Lunch at Oswego Grill.
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Oregon-based Environments helps companies create inspired workspaces. “Simply put, we help companies future-proof their workspaces,” says Chris Corrado, president. Since 1988,Environments has witnessed firsthand the changing landscape of business. Native Portlander and Environments founder Corrado says, “We help our clients navigate the complex realities of the workplace today and plan for their future in a very mindful, strategic way. We think of ourselves as their partners in the process.”
One hundred years ago, the Willamette River might easily have been mistaken for a sewer. Unchecked industrial activity and decades of pollution made it unrecognizable compared to the clean river that now flows north for 187 miles from Eugene through the center of Portland.
The Oregon Entrepreneurs Network (OEN) will be presenting its third annual Entrepreneurial Summit on Friday, June 5 at Castaway in Portland, Oregon.
On June 13th Mayor Charlie Hales will attend nonprofit organization Dream Change’s inaugural Love Summit and will introduce one of its keynote speakers, Dan Wieden of Wieden+Kennedy advertising agency.
34 spots for food, 17 places to sip, and 7 sites to choose a brew beckon visitors.