Second Homes: One Third Of Housing Market

86492 Resource 78724 78558 78558 1110247385187 1110247385187 Controlled Second Homes Set Record Sales

A third of all home sales . . . are you kidding?

Boy, aren't we special.  Summit County homes are owned 2 to 1 by non-residents.  That means they are second homes and/or investment properties.  We knew second home sales are what drive resort markets, but guess what?  According to the National Association of Realtors (NAR), <a href="http://realtytimes.com/rtcpages/20050302_secondhomes.htm">a third of ALL home sales</a> in the country last year were second homes.  Why is that?  Well, interestingly, not all were to live in.  More and more are for invesment and for portfolio diversification.  I know that we are getting more and more inquiries from people who want to move all or part of their investments from the stock market.  And for good reason.  Not only is appreciation better than "more liquid" financial investments, but combined with the leverage available in real estate, it's a real winner.  Where else can you investment 20% or less (many homes are bought with nothing down) at interest rates still under 6%, and not have a call if rates change or the economy goes crazy.  I tell you, it's a good deal.  But, don't just take my word for it.  Read the article in full.  9 application/xml false appreciation investment portfolio real estate Summit County Second Homes: One Third Of Housing Market The second home market isn't what analysts once thought it was. http://realtytimes.com/rtcpages/20050302_secondhomes.htm Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1) 66.198.200.154 66.198.200.154 kdeshaies false true false false true 205866 false false true false false false true 78724 blog blogsite/SnowHome/web