It’s no mystery by now that the property market has been…questionable…since the middle of the past decade, and is only just starting to finally sort itself out. By no means has the market recovered, however it seems apparently stable, and is starting to show slight improvements over the past few months. We may not be on the home stretch yet, but for those of you reaping the benefits of this new-found stability, we’ve got some good news for you.
Vacation homes, the pinnacle of leisurely purchases and all things great, are currently presenting themselves as very appealing purchasing targets. Since the market isn’t so slasher movie frightening anymore, investments can finally be securely placed in the hands of vacation homes, which, as a market, have sat relatively dormant since the mid-2000′s. Why’s this? Cause and effect dear friends. “The vacation market is going to follow the overall market with more volatility because properties that would appeal to vacation home buyers are not only being affected by what is going on in the market overall, but the process of buying a vacation home is purely discretionary,” according to Paul Bishop, Vice-President of NAR. ”If there is a lack of confidence in the economy by consumers, it is easier to wait on a vacation home purchase than on a primary residence purchase.”
There you have it folks, straight from the horse’s mouth. Right now is prime time to finally bite the bullet and grab that little ski cottage or lakeside retreat you’ve always had your eye on, so don’t sleep on it an execute! Agents, this means you too. Consider this a tip from us to you: take this information and use it to your greatest advantage, and move some of those awesome vacation properties you’ve been sitting on that nobody seemed interested in before. Make it explicit that the vacation home market is going to mirror that of the primary purchase market, putting your clients in the perfect position to get a great listing at a premium price, with no sweat off either of your brows. The time is now, so act on it!