Here you go.
In my Virginia Beach office and here in CA, we have a number of people trying to sell their vacation/get-away homes. The most common response to my offers is 'I'll wait it out' or the oh-so-common 'I don't really need to sell...' which are both lies, but we won't get into that today...
What you need to bring them back to planet earth, USA is some proof.
Supply is up. Funding is down. Competition from Banks, Foreclosures and Builders are all up. What does that lead to? Price Drop! (cue the disco ball and police lights/siren) That's right kids, a price drop. And when you start lower, you can end lower. Buying low is what we like. Starting lower makes it easy.
So here's the bullet points from today's article:
- The vacation home market was driven by the availability of debt (money.)
- With the absence of mortgages for primary homes, secondary home loans are even less likely.
- Vacation home sales dropped 31% over all and the median dropped 23%
Go team!
-Tayor
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