Buyers Not on Vacation In Sizzling Resort Market

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.

Posted by Jim Torres on December 13, 2008 at 12:00 AM

About Jim Torres
Jim Torres is affliated with Century 21 Bradley Realty, which is located in Fort Wayne, IN. For further assistance please use the contact information located on the right.

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Local Information for Fort Wayne, IN

Latitude: 41.078348 -- Longitude: -85.126546

ZIP Codes for Fort Wayne, Indiana	46801 46802 46803 46804 46805 46806 46807 46808 46809 46814 46815 46816 46818 46819 46825 46835 46845 46850 46851 46852 46853 46854 46855 46856 46857 46858 46859 46860 46861 46862 46863 46864 46865 46866 46867 46868 46869 46885 46895 46896 46897 46898 46899
Area Code for Fort Wayne, Indiana	260
Time zone for Fort Wayne, Indiana	EST/ NDST

Other Area Cities: Fort Wayne, IN Auburn, IN

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Fort Wayne is a city in northeastern Indiana, USA and the county seat of Allen County. As of 2005, an estimated 248,341 lived in the city proper.[1] The Fort Wayne Metropolitan Statistical Area has a population of 502,141, as of the 2004 update of the 2000 census. Nearly equidistant from Detroit, Michigan, Chicago, Illinois and Cincinnati, Ohio, it has historically served as a transportation and communications center for the region, and an incubator for many products and companies, much more so than its size might suggest. Fort Wayne is named after Gen. "Mad" Anthony Wayne. The United States Army built this last of a series of forts near the community of Kekionga, the largest of all Miami villages, located where the St. Joseph River and St. Marys River join to form the Maumee River. -- Source: Wikipedia.com

Indiana 2000 Census Population Profile Map

	Fort Wayne	Indiana	United States
Population	205,727	6,080,485	281,421,906
Median age	32.8	35.2	35.3
Median age for Male	31.2	33.9	34
Median age for Female	34.6	36.5	36.5
Households	83,333	2,336,306	105,480,101
Household population	200,691	5,902,331	273,643,273
Average household size	2.41	2.53	2.59
Families	50,638	1,602,501	71,787,347
Average family size	3.08	3.05	3.14
Housing units	90,915	2,532,319	115,904,641
Occupied units	83,333	2,336,306	105,480,101
Vacant units	7,582	196,013	10,424,540

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Buyers Not on Vacation In Sizzling Resort Market

Local Information for Fort Wayne, IN

Latitude: 41.078348 -- Longitude: -85.126546

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