If you are aware of what's happening in the financial world, as many of our agents at Prudential Steamboat Realty, you're probably looking for a place to position assets given the extreme volatility of U.S. equity markets and paltry returns of money market instruments.
Long-term demand for second homes in Steamboat Springs looks strong, as there are large numbers of people in the prime buying years for second/vacation homes. Late Boomers are roughly 40 million of these potential second-home buyers, and another 85 million between the ages of 30 and 49. For anyone who loves Steamboat Springs, second homes suitable for play now and retirement later have significant appeal.
U.S. vacation-home sales rose 8% last year to 553,000, according to the National Association of Realtors. Though well below a 2006 peak of 1.067 Million, it represents the first gain in three years.
What makes a second home location ideal? Steamboat's natural beauty is paramount, but don’t forget about lifestyle choices within the town when deciding on a second home. Do you want to be near a golf course, the ski area, a river or lake, or is proximity to downtown shopping high on your list?
And be sure to look at each property with an eye toward tomorrow, because the vacation homes most valuable are the ones that you can play in today and retire in tomorrow. Real estate, even through the market downturn, has long been considered a conservative, long-term strategy to growing wealth. Better yet, lower home prices across America and record-low mortgage rates have created an historic buying opportunity for real estate including second/vacation homes.
Call a Prudential Steamboat Realty agent today, 800.430.4121 or contact@prusteamboat.com
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