Vacation Home Sales Skyrocketed Last Year

 

The National Association of Realtors reported that vacation home purchases made up 21% of all homes sales last year. The highest level since 2003 and a 57% increase from 2013.

Why the dramatic surge? Families, especially the top 10%, are feeling more confident in the local housing market, as well as, strong performances in the stock market.

According to NAR, the typical second-home buyer had a median household income of $94,380, 58% had two income earners and 48% financed less than 70% of the purchase price.

Another telling factor that the real estate market will continue to surge, NAR’s chief economist, Lawrence Yun pointed out that baby boomers are on the tipping point of retirement. In fact, 19% of all vacation homebuyers plan to eventually make their second home their primary residence.

So what does this mean for the Florida real estate market?

46% of the vacation homes purchased were located in the South. On a local level the Naples Area Board of Realtors (NABOR) is reporting that the luxury real estate marketing in Naples remains to be strong.

 

According to NABOR, closed sales increased 14% in the $1Million to $2 Million+ price segment and increased 13% in the $2Million+ price segment.

 

With continually decreasing inventory and strong market conditions, the Naples real estate market remains strong. If you are a homeowner that’s kept your eye on the market and believe you have equity in your home, contact us to confirm your growth in your investment. It may be the right time to sell.

Thinking of buying or selling in Naples?

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Beth Rose Real Estate and Auctions to Team with REIA Toledo for #InvestinToledo Campaign

 

Beth Rose, a member and sponsor of REIA Toledo for over 20 years is thrilled to announce the #InvestinToledo campaign coming this summer. Beth remarked, “The investment sector of Toledo’s real estate market is vitally important to Toledo’s future. Investment properties are the backbone to many retirement plans of hard-working residents of Toledo. I believe by educating people in our own backyard about investing smart in Toledo, we can continue to recover in some of the hardest hit areas in our community.”

Beth’s father, David Rose, started his career offering investment properties that started many of Toledo’s biggest investors in the 1980s and 1990s. This summer, Beth Rose wants to reestablish the importance of investing smart in real estate, right here in our own backyard.

The campaign will feature a large ballroom style auction of investment properties, coupled with educational sessions to help investors who are just starting out with dreams of owning real estate to plan for their futures.

Beth explains, “When investors get started in the real estate buying process for the first time, we understand there’s a learning curve, and that’s why we want to take the time to break down the process and help new investors feel confident they’re making a wise financial decision for their future. We do that by bringing in speakers to talk about issues most investors face such as property management, lending regulations, and what you need to know when taking on renovation projects.”

All these lessons are learned over time, but if we can help bridge the gap and speed up the learning curve, then more consumers will feel confident that investing in Toledo is great for their financial future, and that’s crucial for the future of Toledo.

Over the next few weeks, Beth Rose Real Estate and Auctions will be meeting with investors who are ready to retire and sell their portfolios. We are currently taking new properties to add to our upcoming investment ballroom auction.

If you’re an investor looking to retire, this is the auction to sell your portfolio!

If you’re a new investor just starting out or thinking about buying your first investment property, this is the time to learn from others that have been in your shoes!

Add Your Property to our Auction or Get the Latest Alerts for the Auction and Education Sessions

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Radon Gas, Are You at Risk?

Radon gas is a topic that buyers and sellers need to be aware of when purchasing and selling a home. High levels of radon gas over a prolonged period of time can be very serious, as the gas can cause lung cancer. According to the United State Environmental Protection Agency, radon is the number one cause of lung cancer among non-smokers. Radon is responsible for 21,000 lung cancer deaths every year (source: EPA).

What is radon gas?

Radon gas is a natural, radioactive gas that comes from the ground into buildings. This gas is a by-product of the radioactive decay of uranium. It becomes very dangerous because it cannot be detected by sight, smell, or taste.

How can radon get into your home?

Depending on the amount of uranium content in the earth’s surface, radon gas can drift through foundation cracks, pores of floor slabs, and even floor and wall joints. Other entry points are through openings around sump pumps and floor drains. Radon can also enter your home through the water system, where ground water is the main supply.

What is a safe level of radon gas?

The EPA’s standard for radon suggests a home should test less than 4 pCo/l, otherwise, a home would be flagged as containing high amounts of radon gas. Be sure to properly test your home.

Learn more about radon gas and protecting your home. http://www.epa.gov/radon/index.html