Vacation Home Sales Reach 2nd Highest Mark Since 2006

58% of vacation homes purchased were single family homes. 51% of vacation homes that were purchased were found online. The median price of a vacation home is up 28% from 2014.

Vacation Home Sales: Sales Down, Prices Up

The National Association of Realtors recently released their 2016 Investment and Vacation Home Buyers Survey. The survey revealed many characteristics of both vacation home purchasers and investors. Today, we want to concentrate on the vacation real estate market.

The survey found that vacation home sales last year declined to an estimated 920,000, down 18.5% from their most recent peak level of 1.13 million in 2014. However, this is still the second highest number of vacation sales since 2006.

Lawrence Yun, NAR’s chief economist explained:

"The expanding pool of buyers amidst a dwindling number of bargain-priced properties led to tighter supply and fewer sales and caused the price of vacation homes to rise. Furthermore, the turbulence that hit the financial markets the second half of the year likely seized some would-be buyers' available cash."

As Yun mentioned, the sales price of vacation homes rose in 2015:

Tomorrow, we will be providing an infographic that will highlight the other findings about vacation home sales from the survey, and in two weeks, we will report on the investor side of NAR’s survey

The Top Reasons Why Americans Buy Homes

Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed the reasons why consumers purchase homes and what their feelings are regarding homeownership.

Consumer Lending Executive, D. Steve Boland, explained:

Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed the reasons why consume

Last week, the inaugural “Homebuyer Insights Report” was released by the Bank of America. The report revealed the reasons why consumers purchase homes and what their feelings are regarding homeownership.

Consumer Lending Executive, D. Steve Boland, explained:

“Homebuyers today are motivated by both emotional and practical reasons. Nearly all want more space, but a majority of homebuyers, especially those purchasing their first home, are also looking for a place to call their own, put down roots and make memories. They value the emotional benefits of owning a home as much as the financial ones.”

Boland went on to say:

“The path to homeownership is a journey and can be as overwhelming as it is exciting. For many people, this is the single most significant financial transaction they will ever make.”

This was evidenced in the report when they asked today’s homebuyers to define homeownership. Their answers tell the whole story.

You Can Save for a Down Payment Faster Than You Think

In a study conducted by Builder.com, researchers determined that nationwide, it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage of income a renter spends on housing in each state, and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.

According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:

What if you only needed to save 3%?

What if you were able to take advantage of one of the Freddie Mac or Fannie Mae 3% down programs? Suddenly saving for a down payment no longer takes 5 or 10 years, but becomes attainable in under two years in many states as shown in the map below.

Bottom Line

Whether you have just started to save for a down payment, or have been for years, you may be closer to your dream home than you think! Let's meet up so I can help you evaluate your ability to buy today.

E-2 VISA to South Florida. . . International Relocation

I have moved many times in my life, and have enjoyed living in various states along the East Coast of the U.S. from north to south and even being a seasoned relocater, it is still a daunting task at best.  There are so many considerations- where is there sufficient work, if you have a family then you think about safe residential neighborhoods, school districts, commuting, and the list goes on.  How do you find a home?  Do you pick a Realtor or do you use the Internet?  This can be a very confusing and overwhelming time in your life.

How much more so would these life changing decisions be for a person looking to make the United States their future home?  Where do you go to get help along the road that will assist you in making choices that will promote a healthy and happy new life?  How can one do this long distance and yet feel a sense of confidence that the choices they make today will not be regret tomorrow.

What I would like to examine today is the E-2 VISA requirements for entering the United States.  Basically this is an application for entry in to the Unites States based on your willingness to invest your foreign money in a business venture in this country.  That sounds easy enough, doesn’t it?  Well, if only it were that simple.  Your investment must be a bona fide enterprise and may not be marginal.  What does that mean?  A bona fide enterprise must be a business that is real; something operational that produces services or goods.  It cannot be an idle investment held for future appreciation in value such as undeveloped land or stocks held by an investor who has no intent to direct the enterprise.  The threshold for a marginal business is one that will not generate more than enough income to provide a minimal living for you and your family or one that does not make a significant economic contribution.

That is just Step 1.  Next you would have to demonstrate that your business of choice is a bona fide business.  How does one do that?  This is achieved through the long and arduous process of accumulating business records, tax returns, financial statements, quarterly wage reports or payroll statement, business organizational charts, business licenses, bank statements, utility bills, contracts, customer/vendor agreements, escrow documents, lease agreements and the list goes on. That is Step 2.  There are several more requirements that have to be met and it may seem at this juncture that the process is just too much to tackle for your dream.  You are not alone any longer.

Combining the seasoned talents of Jillian Rosen, of D.R.E.A.M LLC, Dynamic Real Estate Assistance and Management, LLC along with Alan Callaghan & Associates at Capital Business Solutions, Certified Business Brokers; makes this a dynamic duo meeting both business and family needs.

Jillian Rosen is a long time resident of South Florida and a prominent member with the community . She provides owners and buyers with a complete range of real estate services, including the evaluation of requirements, location alternatives, comprehensive analyses and site evaluation, and proactive “added value” contract negotiations. Her Company D.R.E.A.M. Real estate is committed to excellence where they strive to consistently deliver the highest level of service to you at all times. They are dedicated to deliver a service that not only will excel most clients’ standards but also, that will ensure our clients’ recommendations to their peers.

For meeting your E-2 VISA needs Alan Callaghan and Associates are the best you can find for Business services and pairing you with the right business to fulfil your skill sets and financial requirements.  With over 11 years of Business Brokerage experience, Millions of dollars in successful transactions and a network of associates across the United States; Alan will seek out the perfect business for you.  Once a match has been found, his team will continue their support and assistance through the whole process in order to insure the quickest and most stream line transaction available.  Having immigrated to this country himself, seeking out the dream of a better life, he is living proof that the American dream is attainable and his team will get you to that goal.  Alan works in association with Capital Business Solutions, a Business Brokerage Company with International connections, representing both buyers and sellers worldwide.  Many of our associates have been business owners and have an inside perspective of the buying and selling process, a unique position that is used to the buyers advantage. Our expertise in evaluating a business and examination of financial records will make this a clear and easily understood translation.  When considering an E-2 VISA , Alan Callaghan & Associates are the people you want working for you and with you.

Are you wondering about Local Real Estate Market Conditions in Palm Beach County, FL?

Palm Beach County Market Conditions Year over Year to Date

Confused by the media's take on Real Estate in Palm Beach County well look no further.

According to Last months figures prices are up. . .inventory is up and the market is moving quicker than this time last year. Think about making a move in Palm Beach County is might be a great time to Sell Your House! For more information, or to just talk Real Estate, give me a shout at info@jillsellshomes.com

  

Looking for the perfect Florida Beach Oasis . . . Look no further meet,BEACH FINDER

Spotify. . . But for The Beach 

With 825 miles of Florida beaches to plant your beach umbrella on, picking just the right spot for you and your family can be daunting. Do you want adventure or laid-back beaches? Family friendly or picturesque romantic setting?

On Monday, Visit Florida, the state’s tourism and marketing arm, launched some high-tech tools to help visitors find just the right beach for their summer vacation.

The Florida Beach Finder allows travelers to virtually walk hundreds of miles of beaches — from legendary locations such as Miami’s South Beach to lesser-known sanctuaries like Cayo Costa off the west coast of Florida. Here’s how it works:

Go to www.VISITFLORIDA.com and click on Florida Beach Finder. Then “tune” your preferences by moving four dials/red-dot sliders up and down to adjust your beach personality, with preferences ranging from action-packed to secluded and somewhere in between. The beach finder displays different pictures that best match your preferences, and the visual options change with every tweak of the tuner.

You can also virtually walk the beaches with Street View imagery in Google Maps. Last summer, Google spent four months photographing Florida beaches to create panoramic views of every beach in the state. It was Google’s first large-scale beach-mapping project and now all of those images — Google Beach View — are available on Visit Florida’s site.

Nearly 95 million people visited the Sunshine State in 2013. With tourism being the state’s top industry, these high-tech tools will allow visitors to locate their dream beach and dip your virtual toes in the sea even before you talk a stroll on the sand. 

And to remember that fabulous beach vacation, Visit Florida is also launching a tool called Floridagrams where visitors can make a mini-movie of their trip and then share it. Users can upload up to five pictures of your beach vacation into the website, pick a story with an audio narration, and then email it to friends and family what a great momento!!

Check it out at:  http://www.visitflorida.com/en-us/beach-finder.html