The market has been on the rise across the US and the market pick up isn’t just home residences and rentals or houses being flipped, the increase in home sales includes vacation home sales.
While for the “ordinary” buyer or investor this may not seem like “big” news, but for anyone that is educated in the real estate market, they are aware that this news means a much stronger phase of the housing recovery is about to begin, along with a more stable economy and confidence.
In a recent report, the National Association of Realtors reported that vacation home sales were up 10 percent across the nation from that of last year. With us now in July, the peak season for buying is here, and what we can expect to happen is a higher increase in vacation sales. This is good news, as what we’ve been waiting for to happen in the housing market is finally happening.
With the hurricane season upcoming, few real estate agents report concern. However, when it comes to homeowners, reports show that many are requesting FEMA flood maps. This doesn’t necessarily mean a concern, but it does show that buyers are more educated and preparing for the total cost of a home, having information for the cost of storm and flood insurance.
There are many places around the United States that are considered prime opportunities to purchase options to buy a vacation home for both buyers and investors. The trend to buy a Sea Pines condo is in full effect and San Diego is a hot market right now, as well as many other areas in the US. The Hamptons and Florida are two others, as well. Let’s take a look a few places that ranked the “best places to buy a vacation home” this year.
Top Places to Buy a Vacation Home
Lake Arrowhead, California
Lake Arrowhead is located in the mountainous region of the San Bernardino National Forest and the ideal location homeowners that love the great outdoor with beautiful terrain and recreational activities like bicycling, backpacking, hiking, snow skiing and water and year round fishing.
Panama City Beach, Florida
Panama City Beach is a beautiful area that is ideal for those that love the water. The area is home to a 27 mile stretch of beaches off the Gulf of Mexico, legendary attractions, and local seafood.
Marco Island, Florida
Marco Island is a secluded area located near Key West and on the list of best places to purchase a vacation home. The median asking price for a home is $499K.
Big Bear Lake, California
Big Bear is another beautiful area with a small population with reason property values. The median price from homes in the area is $335K.
There are many fabulous places to purchase a vacation home this 2013, and this is a great time to buy!