While buyers of primary residences typically purchase homes because of the desire to be a home owner or due to a job relocation, buyers of vacation homes are motivated by other factors. Thirty-seven percent of vacation home buyers plan to use their property for vacations and family retreats, 16 percent plan to convert their vacation home into their primary residence in the future, and 13 percent purchased because of low real estate prices and the buyer found a good deal.
The median vacation home purchase price was higher in 2015 than in 2014. The typical price was $192,000 for vacation buyers, up from $150,000.
Thirty-nine percent of vacation buyers paid all cash for their property purchase. When financing their purchase, 52 percent of vacation buyers financed less than 70 percent of their purchase.
Among vacation buyers, 27 percent purchased in a resort area, 19 percent purchased in a small town, and 16 percent in a rural area—higher than other buyer types. Forty percent of vacation buyers purchased in a beach area, 19 percent purchased in the mountains, and 19 percent purchased a vacation home on a lake front.
While a detached single-family home is the most common type of home for all buyers, higher shares of vacation buyers purchased condos and townhomes in 2015. The median square feet of a vacation home was 1,500. The typical vacation property was 200 miles from the buyers’ primary residence.
More than 80 percent of vacation buyers reported that now is a good time to purchase real estate. Among primary residence buyers, 15 percent are very likely to buy a vacation property in the next two years.
Author:Sandra Hunt Phone: 682-597-7130 Dated: August 5th 2016 Views: 813 About Sandra: Born in Dallas and a Dallas Fort Worth area resident for her whole life, Sandra knows her way around...
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
If you are interested in a new career in real estate or already have a real estate license but wish to learn more about our company please contact us directly to set up an interview. We offer our agents a 100% commission plan, company leads, training and mentoring and coaching from TOP Producers with no office, desk fees or monthly marketing fees ever. We are a full service brokerage at a transaction fee cost.
At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations.
General Inquiries: firstname.lastname@example.org
Office Number: 1 (800) 683-5651
Texas Real Estate Commission Consumer Protection Notice
4 TIPS FOR EFFECTIVELY MAKING AN OFFER4 TIPS FOR EFFECTIVELY MAKING AN
"Jessica Boozer is the best!! I recently moved to Dallas from Chicago and had a very small window of time to find a new apartment to call my new home. I was completely overwhelmed with this task. I had no idea what I was doing or who to go to for help! A close friend recommended I talk to Jessica to get an idea of what I could get within my budget. Jessica really listened to my needs, looked at places all over the city with me, took the time to talk to me on the phone or text whenever I had questions AND she answered all of them promptly!! She really went the extra mile for me and helped me get exactly what I wanted. I now live in a spacious one bedroom apartment with balcony, updates, safe & quiet location, and completely in my price range!! I couldn't be happier. Definitely go to Jessica if you want someone who will take their time to help you find your new home. She really is the BEST!! "