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FIRST ANSWER
I have been watching that area too. In my experience the rental market drops some and rates become more competitive. Like anywhere though people are into "Staycation" versus Vacation and therefore the Oregon Coast should still be a popular getaway for folks form Portland and Vancouver.
I see no $150,000 units or homes in Nye Beach however. Just too hot of an area. Having said that I am attaching the map with all homes for sale plotted onto it attached below. Have a look and you can come back to this link anytime and it will keep you updated each time you click on it.
I am sure some realtor from Newport will weigh in on this. Good time to do something from a price and terms perspective however and I think your plan is a solid one! Good luck and happy hunting.
Regards;
Dirk Knudsen
Re/max Metro Gold
Re/Max Hall of Fame
503-799-8383
http://www.theknudsens.com/mapping/portland/area/lincoln_cou
Mon Mar 9 2009, 07:59