Real estate salespersons in vacation spots across the country say the market for second homes is picking up steam as buyers grow more confident in the residential market.
The National Association of Realtors reported a 7 percent jump in vacation sales to 502,000 last year, accounting for 11 percent of all volume. The median vacation home price was $121,000 last year, down from a peak of $204,100 in 2005, but agents in some locales say prices are beginning to creep up as the distressed inventory is moved out.
Inventory is so scarce in some markets that some real estate professionals report multiple offers. Trulia economist Jed Kolko said prices now appear to have bottomed-out. People ready to make a cash purchase or who can qualify for low mortgage rates should strongly consider buying now, according to Kolko.
Source: Tom Kelly: Real Estate Today
Originally published: Jun 19, 2012 - 11:50 am
Check out our local stats on our website, www.rewinterpark.com
Property Search
RSS Feed
Search Blog
Recent Blogs
The Process Of Obtaining A Mortgage Loan - Mortgage ProcessPurchasing a home
Why Listing Photos Matter - Why Listing Photos MatterThey say
Savings With Electrical Ease - Savings with Electrical Ease
An Underrated Activity In The Winter Park Area - An Underrated Activity in Winter
Our Bloggers
Lynn Burrows - 10
Lihla Clancy - 2
Elle Ennis - 81
Carrie Flynn - 17
Peter Gach - 4
Sylvia Hensley - 4
Jennifer Hughes - 16
Erin Jeziorski - 17
Janene Johnson - 69
Morgan Keeler - 3
Shanna Lalley - 63
Kerri Lambert - 2
Lisa Leclair Waldorf - 53
Christina Lieder - 2
Mary Orear - 26
Mike Periolat - 3
Katie Riemenschneider - 2
Angela Sandstrom - 18
Sue Seemann - 53
Amanda Solomon - 24
Margaret Sonnek - 1
Julie White - 89
Jean Wolter - GRI - 79
This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.
Click 'Save' to add a property to this list.New & returning visitors please enter your information to login.
This message will go directly to the head of our team.