Desire to Own a Vacation Home Growing | Keeping Current Matters

Aloha, Lance Owens (RS) here with LUVA Real Estate bringing you your real estate minute. We subscribe to several different real estate related news sites and this article really hit home. Our specialty is not only sellingLuxury Vacation rentals here in Hawaii, but we manage them after the sale also. Nothing like finding the perfect match with our Concierge Service to walk you through the process.

Now for the report:

The National Association of Realtors just released their 2015 Investment and Vacation Home Buyers Survey which revealed that vacation home sales boomed in 2014 to above their most recent peak level in 2006.

NAR Chief Economist Lawrence Yun said favorable conditions are driving second-home sales:

“Affluent households have greatly benefited from strong growth in the stock market in recent years, and the steady rise in home prices has likely given them reassurance that real estate remains an attractive long-term investment. Furthermore, last year’s impressive increase also reflects long-term growth in the numbers of baby boomers moving closer to retirement and buying second homes to convert into their primary home in a few years.”

The report shows:

  • Vacation-home sales catapulted to an estimated 1.13 million last year
  • This was the highest amount since NAR began the survey in 2003
  • Vacation sales were up 57.4% from 717,000 in 2013
  • Vacation-home sales accounted for 21 percent of all transactions in 2014, their highest market share since the survey was first conducted

Bottom Line

If you have been considering that oceanfront home in Hawaii, that ranch in Wyoming or that special getaway you someday will retire to, maybe now is the time to act. Prices are good and mortgage rates are at historic lows. Contact us here t LUVA Real Estate, and we will help you put your dreams to a plan.

LUVA Luxury Vacation Rentals  Our full line up of Luxury Rentals (we can help after the sale) 

LUVA Luxury Homes and Condos For Sale   Let us help  you find the right property 

MLS Delivered to you Our Concierge Service, just fill in the blanks and we will deliver properties that match your requirements daily. When you find the property you like, we will upload videos and send you personalized comparable's for the area to help you with your purchase decision.