San Francisco | Buyers Not on Vacation In Sizzling Resort Market |Mortgage residential and commercial home loans SF
The phenomenal real estate boom of the past several years has not been confined to sales of primary residences alone. Sales of second homes also have ratcheted up dramatically as vacationers and investors look to snap up these properties amid the lure of low mortgage rates and rapidly increasing home values.
According to a study conducted by the National Association of Realtors, 2.82 million vacation home purchases were made in 2004, up 16 percent from the previous year.
With the rising demand, prices also escalated; the price of a typical vacation home increased 21 percent from 2003 to 2004, about twice the rate of appreciation for the overall home market.
In addition to vacation homes, sales in the second-home market were bolstered significantly by those searching for steadily appreciating investments. Nearly 25 percent of all homes purchased in 2004 were done so for investment purposes – a 14 percent increase from 2003.
Against this backdrop, real estate firms are recognizing the importance of understanding and servicing this influential group of homebuyers.
“Second-home buyers represent a vital and growing part of the overall market,” said Brenda Casserly, president and chief operating officer of ERA Real Estate. “These discerning buyers have extremely specific and often widely varying needs, and real estate firms looking to lead in this segment must continue to provide these consumers with an efficient mix of one-on-one and Web-based services and resources.”
ERA Real Estate has been an industry leader in this area with its established Resort Properties International program. The program features a team of trained resort experts who can instantly access key resources from around the world and provide specialized information on second-home properties across all price levels and comfort needs.
ERA Real Estate also recently launched Resorts.ERA.com, a Web site designed specifically to meet the needs of second-home buyers. Visitors to the site can search for properties categorized by state or other criteria, such as waterfront locations, ski resorts and golf club communities.
Through the site, consumers can connect with sales associates who specialize in the resort and second-home market, and access links to state and local resources as well as market trends.
Powered by Agent San Francisco – SF San Francisco. All rights reserved.© 2012 Copyright by Agent San Francisco™. All rights reserved. Agent San Francisco is an independent real estate brokerage.
“Agent San Francisco real estate brokerage” is an independent real estate brokerage firm with CaBRE – California Bureau of Real Estate Lic #01173770 and Mortgage Loan Originator MLO – NMLS ID: #1203203 & NMLS ID: #1425778 – Agent San Francisco is equal opportunity housing mortgage broker and
real estate agent that abides by all California Bureau of Real Estate rules and regulations. Agent San Francisco Mortgage Loan originators MLO’s and advertising are in compliance with FTC, U.S. Department of Housing & Urban Development (HUD), Regulation Z [12 CFR §1026.24], Reg CaBRE, Mortgage Acts and Practices — Advertising rule, known as Regulation N – [12 Code of Federal Regulation §§1014 et seq.] – The Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB).
Licensed and endorsed under California Bureau of Real Estate. (CaBRE)
CaBRE Broker #01173770
Mortgage Loan Originator (MLO) NMLS ID #1425778
Mortgage Loan Originator NMLS ID #1203203
Searches related to residential home and commercial real estate lenders San Francisco
residential home and commercial real estate loans San Francisco
San Francisco residential home refinance and commercial real estate lenders list
largest residential home refinance and commercial real estate lenders San Francisco
residential home refinance and commercial real estate funding San Francisco
residential home refinance and commercial real estate financing San Francisco
residential home refinance and commercial mortgage lenders San Francisco
residential home refinance and business real estate lenders San Francisco
residential home refinance and private commercial real estate lenders San Francisco
Home purchase loans and refinancing