Vacation home sales are on the rise as investors realize that the incredibly buyer-friendly market conditions won’t last forever. Here is what Wall Street Journal writer Joe Light reported in a recent article.
“If you’re thinking of buying a second home in the next five years, this might be your best opportunity . . . Near-record-low mortgage rates, bargain prices and dwindling home inventories are bringing some once-untouchable markets within reach for the first time in a decade, say housing-market experts.”
As the article confirms, there is a sense of urgency to take advantage of current rates and prices that is spreading among luxury real estate buyers. While conditions are still not what they were before the housing bust, they are not getting worse, as evident by an increases sales and the return of bidding wars.
The most recent National Association of Realtors survey showed a 7% increase in vacation home sales in 2011 with California locales Napa and Santa Barbara named two of the top vacation home markets.
But as the Wall Street Journal article suggests, some real estate authorities believe that signs are beginning to appear of a bottom-price for vacation homes.
Explore the vacation home possibilities that may not be available for much longer by contacting Hurwitz James Company in Beverley Hills at 888.681.5902.