2nd Home Sales Rise
2010-07-23 16:56:32 by
The National Association of Realtors’ (NAR) 2010 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in the U.S. in 2009, shows vacation home sales rose 7.9% to 553,000 last year from 513,000 in 2008.
According to a recent article in RISMedia.com, "Many U.S. buyers are looking outside the US to countries where they get even more for their money. As a result, the second home market has witnessed the participation of new destinations around the world. These hotspots are getting the attention of international buyers who like the prices they find as much as the natural and cultural attractions. Panama, Honduras, Costa Rica, Belize, southern Mexico, Croatia and Turkey are all enjoying growth in the vacation home market, according to Tom Kelly, nationally-syndicated columnist and author of How a Second Home Can Be Your Best Investment: New, Tax-free Methods for Using a Vacation Home for Recreation, Retirement and Investment.
"'A number of Second and Third World venues capture our fancy, including Panama,' wrote William P. Barrett in a recent Forbes article. 'Panama has the added advantage of being a relatively short plane ride from the U.S,' Barrett said."
Ben Loomis, President of Amble Resorts, also likes Panama. "Americans are looking for a retreat from their busy lives, and Panama offers not only a laid back tropical lifestyle, but affordable real estate as well,” said Loomis.
While 2nd home ownership could mean timeshare as well, in today's market, it has become synonymous with Fractional Ownership.
According to a recent article in RISMedia.com, "Many U.S. buyers are looking outside the US to countries where they get even more for their money. As a result, the second home market has witnessed the participation of new destinations around the world. These hotspots are getting the attention of international buyers who like the prices they find as much as the natural and cultural attractions. Panama, Honduras, Costa Rica, Belize, southern Mexico, Croatia and Turkey are all enjoying growth in the vacation home market, according to Tom Kelly, nationally-syndicated columnist and author of How a Second Home Can Be Your Best Investment: New, Tax-free Methods for Using a Vacation Home for Recreation, Retirement and Investment.
"'A number of Second and Third World venues capture our fancy, including Panama,' wrote William P. Barrett in a recent Forbes article. 'Panama has the added advantage of being a relatively short plane ride from the U.S,' Barrett said."
Ben Loomis, President of Amble Resorts, also likes Panama. "Americans are looking for a retreat from their busy lives, and Panama offers not only a laid back tropical lifestyle, but affordable real estate as well,” said Loomis.
While 2nd home ownership could mean timeshare as well, in today's market, it has become synonymous with Fractional Ownership.
