You can not compare the purchase of a vacation home to the purchase of your primary home.
While the process (inspections, title work, survey, mortgage application, etc,) is the same, a seller's motivation probably is not.
When you sell your primary home you have a need to replace the roof over your head.
Since many resort home owners are absentee owners, the seller of a second home does not have that motivation!
Very often the seller of a resort property has the luxury of waiting for their price.
The fact that an investment home can generate an income also alters a seller's position.
For example: A Florida house with an income from December to April is worth more in the fall than in the summer with little income until the winter.
The exact opposite is true for a beach house on the Northern East Coast. A beach house with a $25,000 income for a 16 week summer season is worth more in the spring with the income to be received rather that in the fall with no income due until the following spring.
Also, as with any property, there are always the motivations that every buyer wants to find: financial distress, divorce, or health issues.
Larry Brzostek, CRS, CLHMS, Broker Associate
RE/MAX Alliance Group
Direct: 941-308-3845
Cell: 941-993-3125
e-mail: larry@lbrzostek.com
Websites: www.LarryandAnn.com & www.LarrySellsSarasota.com
Ann Brzostek, Marketing Director
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