Jan 02 2009
2009 is the Year to Buy Real Estate
It is no secret that 2008 was not a good year in terms of the economy or real estate. While certain areas of the country fared better than others, overall real estate investing was down. The good news is that real estate in many areas is cheaper now than it has been in years and this is especially true in resort areas where growth and home values have had an amazing run of good fortune. The majority of resort areas are now completely buyer’s markets. A large inventory mixed with people who really need to sell means there is plenty of bargaining room regardless of the listed price.
Resort areas offer a fantastic quality of life as well as an above average return on your investment. In the past 8 years in the Vail Valley, for example, real estate investments have given buyers huge returns, often 80 to 100% returns. It was only a matter of time before the market would correct itself. While Vail Valley Real Estate has yet to drop significantly, prices have leveled off and dropped enough to make Vail Valley Real Estate a much better investment for those who are investing for the long run.
When you mix the quantity of resort properties on the market with the historically low mortgage rates that are available today, the conclusion is that resort real estate is nothing short of a buyer’s market. Todays market conditions have combined to create the best environment to buy resort real estate that has been seen in years. So, whether you have been yearning to buy a beach condo in Maui, a cabin in the woods in Maine or a slopeside ski home in Colorado, take advantage and consider buying your dream home today.
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