NAR's Second Home Buyers Survey: Why You Need to Get in the Game Now

The National Association of Realtors (NAR) issued the results of its annual Investment and Second Home Buyers Survey. If you currently own and rent out your second home, these results are significant for reasons that may not be immediately obvious. 

Forget the fact that the combined total of vacation and investment home sales declined three points to 33 percent of the total real estate market. (It was 36 percent in 2006.) What is much more important to us as vacation-rental owners is the rise in the percentage of people who plan to offer their second homes as rentals, and who told surveyors that they made their purchase with an income stream in mind: 

• In the 2005 survey, the number of buyers who planned to rent out their second homes was 14 percent.
•  In 2006, that number had increased to 18 percent.
•  In 2007, it was 25 percent, almost double the 2005 figure. 

With an estimated 740,000 second home sales in 2007, that works out to 185,000 additional second homes, many of whom will be offering newly constructed or renovated homes and condos with all the latest, most fashionable amenities. 

Clearly, the NAR survey should be a catalyst to get you to conduct a top-to-bottom competitive review of your property, its condition and amenities, and your 2008 rental rates. At Swedes Real Estate, we are reviewing all our properties to ensure they remain competitive.

Also, Swedes Real Estate is broadening its advertising programs to include massive Internet marketing, the most advanced web site in the area - and has joined the TexasGulfCoastOnline.com network to give our rentals properties and listings the most exposure worldwide.

We are investing for the future of our area and for the properties we manage and sell. There a reason we are number one - and we plan to keep it that way. Stay tuned for some significant changes soon, as good as we've made it over the last year, it's fixing to get even better!
 
As a side note, with the dollar so weak, many Americans may decide to vacation in this country rather than travel abroad. And, conversely, many folks from Europe and other strong-currency countries may decide to come here. Holiday rentals have a much deeper tradition in Europe, so don't be surprised if you hear some different accents in the months ahead.

If you need the best for rentals or sales on the Bolivar Peninsula, contact us, you'll be surprised at what we can afford-ably do for you today.

Investment And Vacation Home Buyers Survey