Second Some Sales were 33% of all homes purchased in 2007.
Second home sales made up 33% of all real estate sales in 2007, says the National Association of Realtors.
Here’s why people buy Steamboat Springs, Colorado vacation homes:
- 84% of buyers of Steamboat real estate want to use it for vacations and family retreats.
- 30% of buyers of Steamboat real estate want a primary residence in the future.
- 26% of buyers of Steamboat real estate want to diversify investments
- 25% of buyers of Steamboat real estate want to rent to others
- 16% of buyers of Steamboat real estate want the tax benefits
- 14% of buyers of Steamboat real estate will let family members, friends, or relatives use it
- 6% of buyers of Steamboat real estate have extra money to spend.
Buyers of vacation and second homes plan to hold on to the property for a while. Most plan to use the property for 10 years, with 38% planning to keep their second homes for more than 11 years.
This information provided by NAR’s 2007 Investment and Vacation Home Buyers Survey, conducted in March 2008
Posted: April 4th, 2008 under Investment Info.
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