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👁🗨 Sesemi STR Hot Sheet | 📲 STR Mortgages
Dear Sesemi STReet,
Mortgage Rates are at their lowest point since the pandemic era - settling just BELOW 6%. As we anticipated - rates should continue their methodical downward trend settling around 5.5% by years end. For investors that purchased in 2024 - keep a tab on refinancing options.
What we are watching: Inventory Crisis.
In eight years of STR sales on the Oregon Coast - this is the lowest housing and STR inventory we have experienced with roughly 900 single family homes listed for sale for the entirety of the 363 mile Coastline! To put that in perspective: Palm Springs has over 1250 homes for sale.
This is a drop of nearly 20% in average housing supply and has made competition and demand slightly more intense for short term rental eligible properties.
Update on Yachats Oregon STR Rules
Historically we tend to avoid STR regions that have waitlists or properties that are not eligible for vacation rental usages immediately - however with the limited inventory (and for investors with the ability to consider in a variable timeline) Yachats currently has a limited five person waitlist. Expectations are 6-12 months for permit issuance. Here are a few homes worth consideration if that sounds like you!
20 E 8th St Yachats OR | 2 / 2 656SF - Asking $399,000
674 Pacific View Dr Yachats OR | 3 / 5 2295SF - Asking $770K
250 Hill Ct Yachats OR | 3 / 3 1632SF - Asking $789,500
3775 Highway 101 N Yachats | 4 / 6 7525SF - Asking $2.195M
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📲 Shop directly at our exclusive STR HOT SHEET. Updated daily and featuring 100+ active and off market vacation rental properties for sale. Search 24/7/365 at www.sesemisheet.com
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