NJ Real Estate as a Vacation / Investment Home Part 2

Vacation and investment home purchases have followed different cycles over the past two years. Investment home sales declined sharply in 2006 as sepculators dissapeared, and the pattern continued in 2007 with an 18% decline to 1.35 million sales nationaly. Vacation home sales set a record in 2006 becuase there was pent up demand from buyers who couldn’t find a property as a result of tight supplies in preceding years. in 2007, recreational property sales declined 30%.

Second home buyers know that homeownership offers imediate benefits and long-term value. in 2007 8 in 10 second home buyers see their property as a good investment. In addition, 44% of all vacation home buyers and 57% of investment buyers said they were likely to purchase another home within 2 years.

For more information on purchasing a vacation or investment property on the Jersey Shore, contact Dan Kurland at (732) 233-6969 or dkurland@weichert.com.