Vacation Home sales are heating up!

Sales continuing to grow

Demand for vacation home sales is heating up as a strong stock market, and improving economy and job market, have given more consumers the confidence to spend more freely on second residences, summer homes and getaway spots.

Real estate brokers in resort locales from the Mid-Atlantic to Lake Tahoe say second-home buying activity has picked up over the past year or so. Low interest rates and savory deals are a big draw, they say. And with lending and down-payment requirements still particularly tight for second single-family homes and condos, cash is still the preferred way to buy for many.

Nationwide, sales of homes intended for personal vacation use rose 10.1% in 2012 to 553,000 properties, according to the National Association of Realtors’ investment- and vacation-home buyers survey.

The spring survey reflects a rebound in all segments of the housing market, including the vacation-home sector, says Paul Bishop, the NAR’s vice president of research.

Why the strong lift in vacation-home sales? The economy is growing, the unemployment rate is generally ticking down (though initial jobless claims rose last week), and the stock market has done very well in the past year or so, Bishop notes.

“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,” he said. “They were feeling pretty good about their own financial situation, given the growth in the market and in the economy.”

Second-home buying activity has been brisk in New Jersey beach vacation spots such as Avalon and Stone Harbor, says real estate broker Allan Dechert, co-owner of Ferguson Dechert in Avalon.

Back At The Beach

The Avalon and Stone Harbor areas got hit by Superstorm Sandy, but nothing like up north in spots such as Long Beach Island, where a significant amount of inventory was lost, Dechert says.

“But we didn’t have that,” he said. “And we really didn’t see any fluctuation in pricing.”

Dechert says activity in his area, however, was a little slower the first month or so after the storm.

Interest in buying second homes has increased as people look to “get more bang for the buck” amid low interest rates, he says. He’s seeing a pickup in new construction in Avalon for resale and owner occupancy.

“We just finished up a great April with a lot of activity in all price segments, from $300,000 to $3.8 million, with most activity around $1 million,” he said. “The market has been very active even in higher-end properties … a very good sign.”

 

Looking for your perfect vacation home? Contact us today! We can help you find the best deals when it comes to finding that beach or waterfront home. 941-556-5030

 

 

article courtesy of Investers.com

Florida home sales jump 10%!

ImageClosed sales of existing single-family homes rose 10.2 percent statewide in the first quarter of 2013 over the comparable period last year, Florida Realtors reported today.

The trade group said the state’s housing market showed strength with more pending sales, higher median prices and a reduced supply of homes for sale.

“More people went back to work as more jobs were created in Florida during the first quarter, and our population is also growing — which provide a solid foundation for growth in the housing market,” said Florida Realtors president Dean Asher, an Orlando broker. “It’s taking less time to sell a home and, coupled with tight inventory, that shows buyers are eager to lock in historically low mortgage interest rates and take advantage of favorable, but rising prices.”

Realtors sold 48,976 existing single-family homes in the first quarter. Pending sales — contracts that are signed but not yet closed — rose 26.8 percent. The statewide median sales price was $153,000, up 13.4 percent from a year ago.

Condo-townhouse sales totaled 24,655 units, up 3.2 percent. Pending sales rose 13.7 percent. The median sales price was $116,000, 18.4 percent higher than last year. The inventory for single-family homes stood at a 5.3-months supply, down from 5.8 months a year ago.

article from: Inside realestate

 

 

Contact The C & G Team ~ Angela Cegnar & Marty Garcia, for more information on sarasota and bradenton home for sale, or if your thinking about selling your home in Florida we would be delighted to help!.

www.angie@cegnarsellsflorida.com

941-556-5030

Florida home sales jump 10%!

Closed sales of existing single-family homes rose 10.2 percent statewide in the first quarter of 2013 over the comparable period last year, Florida Realtors reported today.

 

TImagehe trade group said the state’s housing market showed strength with more pending sales, higher median prices and a reduced supply of homes for sale.

“More people went back to work as more jobs were created in Florida during the first quarter, and our population is also growing — which provide a solid foundation for growth in the housing market,” said Florida Realtors president Dean Asher, an Orlando broker. “It’s taking less time to sell a home and, coupled with tight inventory, that shows buyers are eager to lock in historically low mortgage interest rates and take advantage of favorable, but rising prices.”

Realtors sold 48,976 existing single-family homes in the first quarter. Pending sales — contracts that are signed but not yet closed — rose 26.8 percent. The statewide median sales price was $153,000, up 13.4 percent from a year ago.

Condo-townhouse sales totaled 24,655 units, up 3.2 percent. Pending sales rose 13.7 percent. The median sales price was $116,000, 18.4 percent higher than last year. The inventory for single-family homes stood at a 5.3-months supply, down from 5.8 months a year ago.

 

 

Article from: inside real estate

NEW Listing: 6923 RIVERSEDGE STREET CIR, BRADENTON: $575,000

NEW Listing: 6923 RIVERSEDGE STREET CIR, BRADENTON: $575,000

Rarely Available ! Excellent value on one of only a few acreage lots on the river in the Golf Course Community of River Club. Incredibly well maintained Arthur Rutenberg Bimini model with so many possibilities. From the HUGE pool and spa area to the 2+ acre homesite you’ll find nature all around as well as a place to launch kayaks and canoes in your own backyard. Call us @ 941-556-5030 for more info!