The National Association of Realtors (NAR) is reporting a surge in vacation home sales in 2013, and experts predict that trend to continue through the end of this year.
Daren Blomquist is the vice president of RealtyTrac, which closely monitors the housing market. He recently told Investor's Business Daily that the Lake Tahoe market is a strong option for those looking to snag vacation properties that are also likely to be great investments, with plenty of appreciation potential. Blomquist notes that last year Lake Tahoe's average prices were still 37 percent below their pre-recession peak.
"[Vacation homes are] very practical and a good place to park your capital," Blomquist told Investor's Business Daily. "You're buying at a point when the market is low and home-price appreciation is going up."
In 2013, the NAR reports that vacation property sales rose 29.7 percent over 2012. Second home sales comprised 13 percent of all total real estate transactions for the year, the highest percentage since 2006. Analysts say the increase is thanks to an improving economy, low mortgage rates and great deals.
As one of the top real estate agents in El Dorado County, I know that there has never been a better time to invest in a second home in the Lake Tahoe area. There is nothing better than enjoying your own beautiful vacation spot for entertaining family and friends, while also watching your financial investment grow.
If you are interested in seeing California homes for sale, contact me, realtor Jon Hesse, today. I've completed more than $100 million in real estate transactions in El Dorado, Placer and Sacramento Counties, giving me the experience necessary to help you find the vacation home of your dreams!