According to a recent report from REALTOR(r) Mag, the Vacation Home market is heating up. Americans are feeling better about the economy and area showing that by spending money on Vacation or 2nd homes. One of the major enticements is the low interest rates - the other is the great deals out there. However, many vacation homes are purchased with cash in the Desert. Nationally about 46% of vacation home buyers paid in cash. If buyers did finance, they generally made at least a 27% down payment.
According to the NAR(r) report, there was a 10% increase in vacations homes purchased in 2012 - and it has been going on strong ever since and especially here in the Desert.
"A lot of buyers who were sitting on the sidelines decided last year was probably a good time to take advantage of buying a vacation home," says Paul Bishop, NAR’s vice president of research. "They were feeling pretty good about their own financial situation, given the growth in the market and in the economy."
Even though it's about the end of our Season in the Desert, it won't be too long and the winter season will be upon us. Why not take advantage of the housing prices in the Desert now and have your home all lined up to come back to in the Fall?
This would be a great time to purchase and then refresh and redesign during the hot summer months. Call me today to find out how.
