The Oregon Coast has long been a desirable destination for those seeking a
beautiful and tranquil environment, with its stunning beaches, rocky cliffs, and lush forests. Over the years, this area has attracted many real estate investors who have sought to capitalize on its natural beauty and potential for development. However, investing in real estate on the Oregon Coast comes with its own set of challenges and risks, including the risk of foreclosure.
According to RealtyTrac, a company that tracks foreclosures nationwide, the foreclosure rate in Oregon was 0.07% in 2021, which is lower than the national average of 0.11%. However, this doesn't mean that foreclosures don't happen on the Oregon Coast, as the area has seen its fair share of foreclosures over the years.
One investor who faced foreclosure on the Oregon Coast was Bill Stoller, a successful businessman and owner of Stoller Family Estate. Stoller invested heavily in a luxury development called Salishan in the 1990s. The project faced numerous challenges, including a lack of demand for high-end properties and an economic recession, and ultimately ended in bankruptcy. Stoller's experience serves as a cautionary tale for investors considering high-risk projects in the region.
On the other hand, there have also been successful real estate investors on the Oregon Coast, such as Samuel H. Boardman and Craig McCaw. Boardman served as the first superintendent of the Oregon State Parks system and was instrumental in the acquisition of many parks and natural areas along the coast. He recognized the importance of preserving the natural beauty of the coast for future generations, and his work continues to benefit the region today. McCaw, a technology entrepreneur and billionaire, invested in a 3,000-acre parcel of land in the Siuslaw National Forest with the vision of creating a luxury development that would blend in with the surrounding environment. Although the project ultimately fell through due to various challenges and controversies, McCaw's investment helped to raise awareness of the Oregon Coast's potential for high-end real estate development.
Overall, the history of real estate investment on the Oregon Coast is complex and multifaceted, with both success stories and cautionary tales. Investors who are considering investing in the region should be aware of the risks involved, including the risk of foreclosure. By doing their research and carefully evaluating potential investments, investors can make informed decisions that will help them to achieve their goals while minimizing their risks.
Use the app below to search for potential investment opportunities in our area. Here are the zip codes you'll need to simply copy and paste for a successful foreclosure search on the Oregon Coast: 97406 (Agness), 97411 (Bandon), 97414 (Broadbent), 97415 (Brookings), 97416 (Camas Valley), 97423 (Coquille), 97424 (Cottage Grove), 97423 (Coquille), 97423 (Coquille), 97429 (Days Creek), 97430 (Deadwood), 97431 (Dillard), 97439 (Florence), 97443 (Glide), 97444 (Gold Beach), 97447 (Grand Ronde), 97449 (Lakeside), 97450 (Langlois), 97456 (Mapleton), 97457 (Myrtle Creek), 97458 (Myrtle Point), 97459 (North Bend), 97463 (Port Orford), 97465 (Port Orford), 97469 (Riddle), 97470 (Roseburg), 97476 (Sixes), 97480 (Swisshome), 97481 (Tenmile), 97484 (Tiller), 97486 (Umpqua), 97488 (Westfir), 97490 (Winston), 97493 (Yachats).