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Vacation and Second Home Market Blog Content

Vacation home author and speaker Christine Karpinski offers content ideas at the National Assn. of Real Estate Editors Spring Journalism Conference.


Are you working in a vacation or second home market? HomeAway's Christine Karpinski shared thoughts about thriving markets and ideas for content with real estate editors at last week's Spring Journalism Conference in Dallas.

Buyers Seeks Vacation Homes in Their Comfort Zone

Karpeinksi points to healthy vacation home markets (in no particular order):

  • Outer Banks,NC
  • Steamboat Springs, CO
  • Lake Tahoe, CA
  • Park City, UT
  • Galveston, TX
  • The Pocono Mtns., PA
  • The Smokey Mtns, TN
  • Branson, MO
  • Virginia Beach, VA
  • Panama City Beach, FL


Consumers need to read about:

  • Homeowners insurance. In some areas of the country that have been hit by major storms, the cost of property insurance is cost prohibitive. Flood insurance is often not available for investment properties and buyers who expect to rent their vacation home must exercise caution and consider price and availability.
  • New financing guidelines. The credit climate is placing greater emphasis on fully documented loans, better credit scores, and higher down payments.
  • Non-homestead property tax issues. Analyze and present issues that an out-of-area buyer may consider before making a purchase decision.
  • Restrictions on short-term rentals. Many municipalities are placing limitations and bans on short-term rentals. Maui and Santa Fe are two recent examples finding investor owners at odds with local governing authorities on the matter of rental properties.
  • HOA restrictions. Ask questions about matters before local Homeowner Associations and take a pulse of the market.
  • Properties on government protected land
  • All aspects of owning and renting vacation homes!

Posted: 11:32 PM, May. 12, 2008
Comments (11) | Add Comment | Link
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RE: Vacation and Second Home Market Blog Content

How exciting to see my market in print somewhere other than my own site! Thanks for the plug!! http://www.lisasellsstroudsburg.com/poconos_real_estate/vacation_properties/index.html

I have found these kind of of articles to be very valuable in attracting traffic. My advice to agents in these areas is to search the internet for info on your market..communities, issues, etc that are relevant...and then write about the things you could NOT find decent source for...Be the first to talk about it! This has been a great way for my little piece of the 'net to get noticed by the consumers that count.

Posted by Lisa Sanderson at 3:51 AM, May. 13, 2008

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RE: Vacation and Second Home Market Blog Content

I lived in the Lehigh Valley (PA) for 22 years and owned a vacation home in the western Poconos many years ago. My favorite eatery is Piggy's in the Big Boulder area ;-)

There are lots of details about the HOAs in the Poconos that out-of-state buyers would love to read about ... plenty of good content for the astute blogger there!


Posted by Frances Flynn Thorsen, e-PRO, SRS at 3:56 AM, May. 13, 2008

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RE: Vacation and Second Home Market Blog Content

I am in the same market at Lake Texoma on the Texas - Okalhoma border. My marketing includes websites that deal with vacation homes, provide the extra things for customers such as handing out a vendor list of local craftmen, and do all the running around for the customer. I also provide community info like eateries, shops, hardware stores, etc. I just started a blog, not very good yet, called http://texomatalk.com,  with the intent of providing activities and events in my area. Folks in this area seem to appreciate the extra mile.

Bill


Posted by William Ptomey at 5:28 AM, May. 14, 2008

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RE: Vacation and Second Home Market Blog Content

Steamboat Springs, Colorado is a healthy vacation home market.  Intrawest bought the ski mountain and is making great improvements, and this year, our base area will begin a huge remodel. 
It's an exciting time for Steamboat, and although we have the same credit challenges these days as other markets, it's a beautiful place to live or visit.
Please visit SteamboatHomeSales.com for more Steamboat Springs real estate info.

Posted by Eliese Pivarnik at 6:31 AM, May. 14, 2008

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RE: Vacation and Second Home Market Blog Content

Yes, I think there are a lot of second home markets out there that were somewhat immune to the "real estate bust" over the last couple years. I say somewhat because they were affected by the daily barrage of bad real estate news in the media. And, many of these areas are mainly located within a 3 hour drive of a major urban center. In these urban centers home prices  did take a hit, causing homeowners to lose equity, and leaving them in a less viable position to buy a vacation home.

That said, most of the vacation areas were not prey to large scale sub-prime lending, and foreclosures are not at all common. In my local area, the Mount Washington Valley of New Hampshire, and Western Maine, sales are starting to rebound, and there are many bargains available. It appears as though the resort condo market is about to bottom out, as sales in that sector are particularly strong, and inventory is quickly working down.


Posted by Jim Marks at 5:42 AM, May. 15, 2008

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RE: Vacation and Second Home Market Blog Content

We are in the Vacation Home Market in Cabo San Lucas and have found a definate slowing in the market due to the crisis in the U..S.  We are finding that the news in the U.S. is affecting the mindset of the buyer if not their pocketbook.  Therefore, we are directing a lot of attention to the Canadian and Mexican market where the Canadian dollar and Mexican peso are strong.

Barbara Cooperman

Cortez Pacifico

Cabo San Lucas, Mexico


Posted by Barbara Smith Cooperman at 11:29 AM, May. 15, 2008

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RE: Vacation and Second Home Market Blog Content

How about sharing successful advertising for second homes?  Luxury Magazines and most print seems to be more for the sellers and does not produce buyers. Strong presence a must. What else has drawn inquiries?

 


Posted by Carol Stewart at 12:09 PM, May. 19, 2008

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RE: Vacation and Second Home Market Blog Content

That's strong WEB presence

Posted by Carol Stewart at 12:16 PM, May. 19, 2008

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RE: Vacation and Second Home Market Blog Content

While I maintain Vacation Home Mall, I'm also the marketing manager/webmaster for a real estate firm in the White Mountains of New Hampshire. We're currently adding a page for international buyers to our site since it's a double discount for many of them. One, their currency has gone up against the USD, and two, vacation homes and condos have lower prices than a couple years ago.

If you have a strong web presence, I take it you already have your listings going to Trulia, Propsmart, Craigslist and the like? EscapeHomes.com is also good because you can use their content editor to create a custom look, and add links back to the listing, your home page, or even a page dedicated to a specific type of vacation home such as golf homes, lake homes, beach homes, etc.

Also, it a terrific time for buyers that want to upgrade. While they may get less for their current vacation home, they'll save more when the buy a more upscale home. And, if they're looking for a new home, it's even better. This is probably the best time to buy a new vacation home because they're not selling as quickly, and costs for building materials are soaring. When the market normalizes, new homes are going to cost considerably more than they're selling for right now.

If you're selling in a high range home or condo development, you may want to get a list of owners in a mid range development through the tax rolls and bring these points to their attention. Maybe many are a bit jittery, but some, who can afford to move up, should be aware of the opportunities that are available right now.


Posted by Jim Marks at 11:08 AM, May. 20, 2008

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RE: Vacation and Second Home Market Blog Content

I have been listing and selling resort real estate in the same area my entire real estate career (mid 1980's). I am located in Ocean City, Maryland. Ocean City is 2 hours east of Washington, D.C. and 3 hours east of the Baltimore, Maryland area, as well as many highly populated areas in Virginia.  Over the years, I have seen more and more buyers coming from further destinations to have a 2nd home or investment property at the beach.  Ocean City Maryland is much more affordable then some of our neighbors to the north (such as Delaware, New Jersey and New York), yet still a comfortable weekend drive.  As the national real estate market has suffered loses in the past couple years, Ocean City has also experienced a slow down in our market. However, we can "hit" to many different price points.  I can sell you a $200,000 oceanfront condominium or a $2,000,000 oceanfront condominium. I liken it to having a diversified stock portfolio.  If you don't concentrate in one area to heavily, as one sector suffers a downturn, another sector will keep you in the game. An oceanfront condo for $200,000 is cheap, and I can find someone to buy that, irregardless of how hard the media has bombarded them with negative real estate news. I tell all my buyers right now, don't try to sell this property in the next couple years, that isn't what the market is about.  Your use and enjoyment has value, and over the longer haul you will do fine by owning this real estate. Not to mention the tax advantages that will occur from day one. My husband and I are "partners in crime" in this real estate biz we're in.  Kevin has been selling real estate in our resort area since 1975. We've seen our share of changes in the marketplace.  Real estate always comes back around. We believe in what we do, and are happy to tell our customers and clients that we believe in our area.  We are multiple property owners here too!

Posted by Monica McNamara at 10:56 AM, May. 22, 2008

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RE: Vacation and Second Home Market Blog Content

I have been selling resort/vacation homes in the Lake Texoma area for 8 years. I am a broker and vacation home specialist.. Resort home buyers are very different. They are here on vacation or just visiting for the weekend. Most everyone is looking for a bargain, but in this area there are none. You have to convince them of that first. The successes we have come from advertising more and better than the other agencies. I personally have 4 websites other than or Coldwell Banker site and our MLS. We also are  the only agency that uses flyers at all homes. But, the main thing we do is concierge service. We treat the buyer like he is the only customer we have both before the sale and after. We have received a lot of referrals based on this activity.

Hope this helps anyone selling resort homes.

Bill Ptomey/Broker

 


Posted by William Ptomey at 2:04 PM, May. 27, 2008

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