{"id":41435,"date":"2010-10-02T11:29:44","date_gmt":"2010-10-02T11:29:44","guid":{"rendered":"http:\/\/forestridgevoice.com\/2010\/10\/02\/is-it-time-to-buy-that-retirement-or-second-home\/"},"modified":"2019-04-23T20:53:13","modified_gmt":"2019-04-23T20:53:13","slug":"is-it-time-to-buy-that-retirement-or-second-home","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/is-it-time-to-buy-that-retirement-or-second-home\/","title":{"rendered":"Is It Time to Buy That Retirement Or Second Home?"},"content":{"rendered":"

\"swimming-pool\"<\/p>\n

All you read in the news today is that real estate prices have fallen dramatically in many areas. However, are lower prices a chance for purchasers to buy that second\/vacation\/retirement home they always dreamed of owning? We want to look at the second home buyer and see whether the current market presents a tremendous opportunity for this segment of the population.<\/p>\n

Does buying make sense right now?<\/strong><\/p>\n

Senior Housing News <\/strong>this month <\/strong>did an article<\/a> <\/strong>comparing the advantages of owning vs. renting for boomers and seniors. When discussing a possible purchase, they said:<\/p>\n

Even though the returns from investing in real estate may be in question for the next few years, the benefits of purchasing a home now remain important as pricing may be at or near a bottom, there is a substantial amount of available homes for sale, interest rates on financing are the lowest they have been in a generation and the interest paid on a home mortgage is deductible.<\/p>\n

Unity Marketing<\/strong>, in a recent survey of high income families, found that one out of nine respondents (11%) had plans to buy a second\/vacation home in the next twelve months. The wealthiest in the country have decided that now is the time to jump make into the real estate market.<\/p>\n

Where are the best deals?<\/strong><\/p>\n

This past week, Reuters<\/strong> ran an article<\/a> in their Personal Finance section which said now might be the time to buy that second home in the Sunbelt:<\/p>\n

Look for a retirement or vacation home now. If you\u2019ve been thinking you\u2019d like a second home now or a future home in the traditional retirement Sunbelt, go shopping. Those markets are depressed by overbuilding, a lack of buyer interest and a boatload of foreclosures. You\u2019ll be able to get a good deal.<\/p>\n

In an article this week by Housing Watch<\/strong>, the South Florida market was discussed:<\/p>\n

The forecast is that significant improvement will occur in a year to a year and a half. For South Florida, though, the forecast is what works in the area\u2019s favor. It\u2019s still a place where folks want to move and migrate to, thanks to the weather \u2014 perhaps a winter retreat for six to eight months or a second home. Once folks are more confident in their economic situation, they likely will begin migrating to the Sunshine State again.<\/strong><\/p>\n

Bottom Line<\/strong><\/p>\n

Now might be time to buy that second home. Prices in many regions of the country have dropped substantially. You should check with a local real estate professional in your current area that can get you great information on the areas that might interest you and your family.<\/p>\n","protected":false},"excerpt":{"rendered":"

All you read in the news today is that real estate prices have fallen dramatically in many areas. However, are lower prices a chance for purchasers to buy that second\/vacation\/retirement home they always dreamed of owning? We want to look at the second home buyer and see whether the current market presents a tremendous opportunity<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":5759,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"\nIs It Time to Buy That Retirement Or Second Home? - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/is-it-time-to-buy-that-retirement-or-second-home\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is It Time to Buy That Retirement Or Second Home? - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"All you read in the news today is that real estate prices have fallen dramatically in many areas. 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