Role of the realtor vacation and Second Home Markets
Sales of second homes has increased in recent years with more people becoming second home owners. In 2005 alone housing, 40 percent of homes sold were second. Demographics, mortgage rates all time low, and rising house prices have contributed to healthy development in the second home market. In addition these, an important factor that has contributed to increase the purchase and sale of second homes is a real estate professional.
The National Association of Realtors conducted research on the profile of owners of second homes in 2006. According to the NAR report entitled '2006 Profile Second-Home Owners', a majority of transactions of second home sales are made using the services of estate agents.
The statistics are remarkable: 64% of buyers bought their holiday home using the services of an agent by the end of 2005 – an increase marked less than 50% of homebuyers holiday in 2003. Also, 65% of investment home buyers purchased their home with the help of a estate agent – an increase of 53% of pre-2003. In comparison, only 14% of buyers of holiday homes, and 7% of the investment, homebuyers purchased directly from manufacturers from 2003 to 2005.
The growing role of commercial property is evident following figures:
1. Sales homemade holiday, 71% of them were second homes and 74% of sales were made using the services of a realtor.
2. The investment properties sold, 85% of them were previously owned and 62% of sales were made using the services of a realtor.
The use of estate agents selling residential secondary transactions varied depending on the location the house '.
1. Buyers used a real estate agent more frequently while purchasing a holiday home in a suburb / Subdivision (56%) or rural (57%) than households in other places.
2. Approximately 66% of buyers who purchased an investment property in an urban / downtown and suburban / subdivision, used the services of a real estate agent more frequently than those who bought a house in other locations.
Real estate professionals continue to be the primary source of information for second home buyers (38% of Homebuyers holiday and 34% of investment home buyers). The real estate professional also plays a major role during the second owners plan to buy additional properties. If you are considering buying a second home or vacation home, seek services of a real estate agent to guide you in your purchase of a house next.
1. The percentage of second homeowners who are more likely to use an estate agent in their next purchase of a home is quite high. Among the owners of holiday homes it is 79% and investment by homeowners 73%.
2. Among owners of second homes, 65% of owners of holiday home and 64% of investment property owners are more likely to use an estate agent in their next home sales.
Given these statistics, it is no wonder that the salesperson plays a key role in helping people buy and sell second homes. So if you are a second home buyer or seller, enlist the services of an agent for a smooth, Hassle Free real estate transaction.
About the Author
San Diego Homes
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