Finding the Right Vacation Rental Homes to Meet Your Needs!

I am a native Oregonian, who has lived in Salem and on the Oregon coast my entrie life. I have watched and participated in property ownership and investment since 1971. I have also been a licensed realtor in the state of Oregon for over 25 years, now retired. I developed Hidden Cove Bed and Breakfast and long term rentals, a barrier-free property on Devil’s Lake.I am a widow, rowing my own boat in a very difficult economy. Most of my personal assets are invested in my property on the lake. I came here to retire; produce income to add to my social security income; and age in place in a beautiful place on the planet.This was my retirement dream. I achieved it .only to have my livelihood threatend by a city council that does not understand basic economics.I want to see us preserve the individual property rights we are entitled to in this state. With the average price of housing in our city .. between $250,000- $300,000, the purchaser of a home needs 10-20% down and an income of a minimum of $3,000-$3,500 per month. If this home in Lincoln City is a second home, then double that income per month (due to the fact owner’s also have to afford a primary house payment in their city of primary residence). So now we are looking at a total income of $72,000 $84,000 per year! How many Oregonians have incomes of $72,000- $84,000 per year? Doesn’t it stand to reason people are buying properties jointly and renting their second homes to afford the payments and the property taxes??? Just look at the behavior of the market and you will find the truth. Last quarter, TRT taxes increased 7%. We are bringing more business to Lincoln City. That is a good thing!The new VRD ordinance is restricting our right to rent our second home investments. Yes, second homes are also investments! This ordinance will eventually cause the demise of property values in Lincoln City over time. Only high-income families will be able to own second homes here. The average Oregon family cannot even dream of owning a piece of the Oregon coast. Entreprenurial incentive is being controlled by short-sighted government intervention.We need to be heard! Our interests need representation! Those of us who own VRD’s and rental properties have a voice. There are only twenty-two of us (VRD owners) in the city who can even vote! We are paying property taxes that support this community and TRT taxes that few communities have the luxury of enjoying. Maybe we should encourage some re-zoning. It does not make sense to me to have waterfront properties zoned R-1. I think a higher and better use for waterfront property is vacation rental in a resort community, don’t you? Let’s take a look at Lincoln City’s zoning. Maybe it is due for an overhaul! If you move to Lincoln City to retire; live here full time; and buy a first row, second row, or third row home on the west side of Highway 101 or a lakefront, riverfront, or bay front property; you are deluding yourself if you think your neighborhood will be full of single-family owners!Check out the budget and educate yourself to where the TRT money goes. Look at the VCB and where they spend money .. Let us hold Lincoln City council members and our mayor accountable! Only one third of all properties owned in Lincon City is owned by people living and voting here! All property owners in Lincoln County who do not reside here have a voice that needs to be heard. Maybe we need to organize and refuse to pay our property taxes! If we did that in mass do you think the city council would figure it out? It is time to stand up for our property rights!I realize I am taking a risk to verbalize my opinion when I live here as a full-time resident. I cannot be silent any longer. My financial well being may be in the hands of people who do not understand basic economic principles! Yikes!!!!!