econd home sales have been by the end of 2005 – a marked
increasing over the last increase from less than 50 % of
few years with more people vacation-home buyers in 2003.
becoming second home owners. In Also, 65 % of investment-home
2005 alone, 40 percent of the buyers purchased their home with
homes sold were second homes. the help of a real estate agent –
Demographics, all time low an increase from 53 % of
mortgage rates, and healthy rise pre-2003. In comparison, only 14
in home prices have contributed % of vacation-home buyers and 7 %
to this development in the second of investment-home buyers
home market. Besides these, a purchased directly from builders
major factor that has helped from 2003 to 2005.
augment the buying and selling of
second homes is the real estate The growing role of the real
professional. estate professional is evident
from the following figures:
The National Association of
Realtors conducted research on 1. Of vacation home sales made,
the profile of second-home owners 71 % of them were second homes
in 2006. According to the NAR and 74 % of the sales were made
report entitled ‘2006 Profile of using the services of a real
Second-Home Owners’, a majority estate agent.
of second home sales transactions
are conducted using the services 2. Of the investment properties
of real estate agents. sold, 85 % of them were
previously owned and 62 % of the
The statistics are remarkable; 64 sales were made using the
% of vacation home buyers services of a real estate agent.
purchased their home using the
services of a real estate agent The use of real estate agents in
second home sales transactions properties. If you are thinking
varied according to the home' of buying a second home or
location. vacation home, seek out the
services of a real estate agent
1. Buyers used a real estate to guide you through your next
agent more frequently while home purchase.
purchasing a vacation home
located in a suburb/subdivision 1. The percentage of second home
(56 %) or a rural area (57 %) owners who are more likely to use
than for homes in other a real estate agent in their next
locations. home purchase is quite high.
Among vacation-home owners it is
2. About 66 % of buyers who 79 % and investment-home owners
purchased an investment property 73 %.
in an urban/central city area or
in a suburb/subdivision, used the 2. Among second home owners, 65 %
services of a real estate agent of vacation-home owners and 64%
more frequently than those who of investment-property owners are
purchased a home in other more likely to use a real estate
locations. agent in their next home sales.
Real estate professionals Given these statistics, it is no
continue to be the first source wonder that the real estate agent
of information to second-home plays a pivotal role in helping
buyers (38 % of vacation-home people buy and sell second homes.
buyers and 34 % of So whether you are a second-home
investment-home buyers). The real buyer or seller, enlist the
estate professional also plays a services of an agent for a
major role when second-home smooth, hassle free real estate
owners plan to buy additional transaction.
About the Author:
San Diego Homes
Rancho Penasquitos Condos
Rancho Penasquitos Homes
Read more articles by:
Real Estate Advisor
Article Source: www.iSnare.com 
