My question would be how many own property they they do not live in....there are A LOT of landlords who are now renters....they own a "second" home without owning a FIRST one!

Via Lenn Harley, Real Estate Broker, Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate):

HOW MANY PEOPLE DO YOU KNOW WHO OWN A SECOND HOME???  Does the number come anywhere near 24%???Lenn

According to the PEW Research, 24& of home owners own a second home, residential or investment. 

I don't know about that.  What I do know is that, as a real estate broker, active for many, many years, I have known, or even known of, few who fit that description.  I wonder if that percentage includes TIME SHARES??

SEE: 

Who Owns Second Properties?

Percentage of each group that reports having any real estate holdings, such as a second home or investment property, apart from the place where they now live. 

SEE survey results HERE.

 

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.  Serving home buyers in MD and Northern VA.

 


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Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

LandlordWhisperer

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7 Comments on SURVEY SAYS. . . . . . I'm having a hard time believing any surveys about anything. . . .

OCT
03
111,494 Points

I wonder if it could include an RV? Of all the people I know, 24% certainly seems high! THanks for sharing!
6:32am • #1
347,395 Points 29 Featured Posts Outside Blog Called Shot Master

I never thought that a timeshare was considered a second home.  What about an RV?  Investment property? Family property? Tent?  Dog house? 

I know that 24% of the people that I know don't have a second home.

Interesting survey data.
6:47am • #2
378,775 Points 5 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Wallace, 

Yeah, just doesn't make sense, unless you count the folks that don't still live in their primary residence as 2nd home owners.

All the best, Michelle
12:09pm • #3
OCT
04
561,039 Points 10 Featured Posts Called Shot Master

Wallace, living in Southwest Florida with the snowbirds, it would seem 24% may be light! I would have guessed 25% if asked. Enjoy your day!
4:31am • #4
954,136 Points 52 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

This was a great post, and after thinking of my client base, probably only 10% own second homes for personal use or rentals.
5:59am • #5
280,307 Points 14 Featured Posts Called Shot Master

Interesting survey, we have a few clients that we have investors policies for their homes and then a renters policy for the homes they are renting  
9:27am • #6
OCT
05
492,602 Points 29 Featured Posts Outside Blog Called Shot Master

I often have these same challenges on the mortgage. From time to time, I will see a credit report that shows a charge off of an obligation that was a time share, the folks are stuck and can't refinance or purchase, as it is considered real estate. It is looked at, as a foreclosure.
4:34am • #7

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Wallace S. Gibson CPM *

LandlordWhisperer

Charlottesville, VA

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