Dreaming of a vacation home?
Data from the 2011 NAR Investment and Vacation Home Survey shows vacation-home sales accounted for 10 percent of all transactions last year and investment sales were 17 percent of the overall market.
The median vacation-home price was $150,000 in 2010, while the median investment-home price was $94,000. The typical vacation-home buyer was 49 years old with a median household income of $99,500 and purchased a property that was a median distance of 375 miles from their primary residence. Investment-home buyers had a median age of 45, earned $87,600 and bought a home within a median distance of 19 miles.
Thirty-four percent of vacation-home buyers said they plan to use the property as a primary residence in the future, as did 10 percent of investment buyers.
Are you considering a vacation or investment home purchase? Although we think Summit County, Colorado is THE BEST place for your second home, we can put you in touch with a real estate agent in the area of your choice-even if it's not Summit County! Just let us know where you are considering buying and we will take care of the rest.
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