Travel Around The World - Second Home Vacation Properties Sales Rising

Sales data for 2007 will be released later this spring. And 1.02 million in both 2004 and 2005, 000 sales in 2003, with 850, this was the fourth consecutive year of sustained growth. With 1.07 million closed transactions for the 2006 calendar year, statistics released by the National Association of Realtors (NAR) show that sales of second-home vacation properties continue to set record levels.

And 21% plan on this home becoming their primary residence when they retire, over 75% of those surveyed have no intention of renting out their home. And boating (9%); hunting and fishing (12%); winter recreation (16%); theme parks (18%); golf (29%); nAR surveys show that the decision to purchase was affected by lake and water sports (37%). This upward trend represents values and choices being made by these purchasers.

And 45 million people between ages 40-49, this reflects the changing demographics of the general population: there are currently 36 million people between ages 50-59. 000+ annual income, with $100, the average age was 44 years old, in 2006. 000 annual income, the typical buyers were 52 years old with $80, in 2005. With 43% over 500 miles from home, or distant, with 47% under 100 miles from home, the typical vacation property buyers are investing in properties either close, according to the same surveys.

" The younger purchasers will become a driving force in the second home market over the next decade. States: "Vacation home buyers are making lifestyle choices and purchasing for their own enjoyment, chief economist for NAR, david Lereah. This significant increase in the number of typical purchasers is a strong indicator that this segment of the real estate market will continue to grow.

With a downward rate trend projected through the summer months, recently increased loan limits are opening a significant market segment to todays' exceptionally low rates. Recent adverse trends in the subprime segment of the mortgage industry have had little effect on the availability of financing for customers with the income and credit worthiness of these purchasers. As the typical purchasers meet the lending requirements for qualified buyers, mortgage loans for purchase and construction of these properties continue to be readily available.