Vacation Home Buying is Making a Comeback

Vacation home buying is having a resurgence with $553,000 vacation homes sold this year. This is an 8% increase over 2008 when sales started the downward trend. Prices are also up 13% from 2008 levels when cash strapped sellers started reducing the prices on their second homes for quick sales. Todays average vacation home buyer is 45 years old with a median income of $87,500 and is making a lifestyle choice rather than an investment. As the second home inventory is absorbed in Big Canoe, we are seeing prices trend upward but there are still bargains to be had. Contact me for information on vacation homes and 1031 Exchanges in Big Canoe.