Vacation Home Sales Rise
If you're a White Mountains Arizona vacation home owner, you're still in the driver's seat! Although you may have to concede a little price-wise in acknowledgement of the perception of an overall buyers' market, your chances of selling are greater than new construction or existing neighborhood homes.
In 2006, more than one million people bought vacation homes. These million home sales represent an increase of 4.7 percent over the preceding year. This according to the National Association of Realtors (NAR), industry experts who say that this data from NAR is good news for people who want to buy a vacation home.
According to Christine Karpinski, author of "How to Rent Vacation Properties by Owner", 2nd Ed: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment (Kinney Pollack Press, 2007), vacation home sales and investment home sales together accounted for 36 percent of all new and residential transactions. With these results, is it really a good time to sell a vacation or investment property?
The general public tends to view the real estate market as a whole. But Karpinski points out that that there are different segments to the real estate market, and not all of the segments respond in the same manner or at the same time.
Residential sales, i.e. a house bought as a primary residence and investment purchases are two separate and distinct markets. So don't let the gloom-and-doom-sayers discourage you, and don't let the sluggish real estate market in your area do so either. You are on a whole different playing field, says Karpinski.
While vacation home sales are up, investment home sales are down by nearly 30 percent since 2005. This can be good news for vacation homebuyers because fewer speculators in the market means less demand and lower demand equals a drop in prices. Get realistic with your pricing, and ensure buyer attention. It's what they expect-- so don't violate their expectations by digging your feet in, demanding yesteryear's prices. Capitalize on the rising vacation home market!
Buyers buying a vacation home for personal use, not having to compete with speculators allows buyers to take their time and make a thoughtful purchase that they can feel good about. To vacation home sellers, that means careful pricing, and much more patience waiting for buyers to make up their minds. Bruce & Pam Wachter with Sell Properties, LLC, will counsel you on your wait and watch approach, and also give you valuable information about making your vacation home stand out. How to negotiate successfully with hesitant buyers is an art form, too. Bruce & Pam can give you invaluable support and help with negotiating successfully.
Vacation homes that can be rented typically hold their value better because more people are able and willing to buy such a house. Think about offering your vacation home furnished or partially furnished. Think about selling your vacation home complete with tasteful cabin decor-- make it look more like a mini-resort!
In 2006, more than one million people bought vacation homes. These million home sales represent an increase of 4.7 percent over the preceding year. This according to the National Association of Realtors (NAR), industry experts who say that this data from NAR is good news for people who want to buy a vacation home.
According to Christine Karpinski, author of "How to Rent Vacation Properties by Owner", 2nd Ed: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment (Kinney Pollack Press, 2007), vacation home sales and investment home sales together accounted for 36 percent of all new and residential transactions. With these results, is it really a good time to sell a vacation or investment property?
The general public tends to view the real estate market as a whole. But Karpinski points out that that there are different segments to the real estate market, and not all of the segments respond in the same manner or at the same time.
Residential sales, i.e. a house bought as a primary residence and investment purchases are two separate and distinct markets. So don't let the gloom-and-doom-sayers discourage you, and don't let the sluggish real estate market in your area do so either. You are on a whole different playing field, says Karpinski.
While vacation home sales are up, investment home sales are down by nearly 30 percent since 2005. This can be good news for vacation homebuyers because fewer speculators in the market means less demand and lower demand equals a drop in prices. Get realistic with your pricing, and ensure buyer attention. It's what they expect-- so don't violate their expectations by digging your feet in, demanding yesteryear's prices. Capitalize on the rising vacation home market!
Buyers buying a vacation home for personal use, not having to compete with speculators allows buyers to take their time and make a thoughtful purchase that they can feel good about. To vacation home sellers, that means careful pricing, and much more patience waiting for buyers to make up their minds. Bruce & Pam Wachter with Sell Properties, LLC, will counsel you on your wait and watch approach, and also give you valuable information about making your vacation home stand out. How to negotiate successfully with hesitant buyers is an art form, too. Bruce & Pam can give you invaluable support and help with negotiating successfully.
Vacation homes that can be rented typically hold their value better because more people are able and willing to buy such a house. Think about offering your vacation home furnished or partially furnished. Think about selling your vacation home complete with tasteful cabin decor-- make it look more like a mini-resort!
Labels: how sellers capitalize, vacation home sales rising, White Mountains Arizona
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