Florence Again Rated "Coastal Gem" For Retirees
Florence Oregon
A National Magazine names Florence a prime spot for condo living.
Two weeks ago an article featuring Florence condominium living was published in the February/March issue of Where to Retire magazine.
The magazine article is unlikely to influence growth in Florence the way the highly publicized book Retirement Places Rated did in 2004 and 2005, but it might help the currently struggling condominium market.
“Eight Coastal Gems for Condo Living” by Mary Beagin describes coastal communities in California, Texas, Florida, North Carolina, Maryland and Oregon, and features Florence. The magazine has a readership of approximately 500,000.
Mary Lu Abbott, Where to Retire editor, said the publication's readers tend to be “well-educated adults in their 40s and 50s and beyond, who are looking for places to relocate when they retire. They often use their vacation time to check out places for retirement.”
The current condominium market in Florence could use a publicity boost among prospective retirees. Assessor and market analyst Tawfik Ahdab said there are currently 51 condos for sale. Only nine condo sales were completed in the last 12 months.
“That translates to a 68-month supply,” said Ahdab. A balanced market would have enough listings to generate a six-month supply of sales.
Thirty more new condominiums will be entering the market soon. When that happens, Ahdab said, at the current rate of sales, Florence will have a 108-month or eight year supply of condominiums.
“The condo market is a disaster because there's such an oversupply,” Ahdab said.
The good news for buyers is that prices will likely come down, and the real estate situation may become a positive opportunity, he said.
Andy Johnson of Coldwell Banker, who markets condominiums, is optimistic that the situation could change.
“There's a lot of people looking around now,” he said, “and things happening such as the Olympic trials coming down the pipeline.”
The Florence Area Chamber of Commerce expects to draw as many as 100,000 people to Florence during the 2008 U.S. Olympic Team Trials, Track and Field, between June 27 and July 6, according to chamber director Kady Sneddon.
Articles such as the one in Where to Retire magazine also help.
Abbott said Where to Retire researchers find that condominiums are becoming increasingly popular with retirees who want to spend less time doing yard work. They want to be able to lock the door of their home and leave for several weeks.
“We have scouted around the country and know that the Oregon coast is popular with retirees. Florence is a prime spot, appealing to those who like the natural beauty of the area along with small-town life with proximity to urban amenities, such as in Eugene,” Abbott said.
Magazine researchers also know that Oregon is number 12 among states attracting retirees and that Lane County is among the 100 most popular counties for retirement, she said.
It is too early to tell if the Where to Retire article will help pique interest in Florence.
Sneddon said, “Of course any time we would benefit from an article would be great.”
When people call the chamber asking about Florence, they usually want to know what the weather is like, the yearly rainfall, the age range of residents, activities, proximity to other communities and the price ranges of condominiums, homes, or beach cottages, said Sneddon.
“A lot of people ask what volunteerism in the community is like,” Sneddon said. “That's one of the reasons this town is so affluent with volunteerism, because of retired people who want to dedicate their time.”
The Where to Retire article highlights answers to the questions Sneddon typically hears at the chamber.
Beagin writes in Where to Retire that “dozens of lovely little towns are sprinkled among the rugged and magnificent scenery of the Oregon coast. Unassuming Florence is among them and is special.”
Story by Katy Fulton, The Siuslaw News
Dennis Prease - RE/MAX Integrity Broker invites you to see more Florence Oregon Real Estate information and all the area real estate listings.
Date: Saturday, March, 8th 2008 @ 08:30:55 PMViews: 273
This blog entry currently has 3 comments posted.
Mr. Dave Depala
hi
these is great info....................
daily yeah
Excellent article. Thanks for sharing.
Sugarloaf Real Estate
Wonderful article! Thank you for this post, I am now looking forward to my golden years more than ever! Best of luck to Florence with this lovely retirement community.