Every year around this time, many homeowners begin the process of preparing their homes in case of extreme winter weather. Some others skip winter all together by escaping to their vacation homes in a warmer climate.
For those homeowners staying at their first residence, AccuWeather warns:
“The late-week cold shot should fade next week, but this is a warning shot for winter’s return late in the month and early February.”
Given this, it’s time to go and stock up on winter weather supplies! However, if you’re tired of shoveling snow and dealing with the cold weather, maybe it’s time to consider obtaining a vacation home!
“72% of vacation property owners and 71% of investment property owners believe now is a good time to buy.”
It’s time to take advantage of the equity in your home. As the latest Equity Report from ATTOM Data Solutions stated:
“Nearly 14.5 million U.S. properties (are) equity rich — where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value — up by more than 433,000 from a year ago to a new high as far back as data is available, Q4 2013.
The 14.5 million equity rich properties in Q3 2018 represented 25.7 percent of all properties with a mortgage.”
This means that over a quarter of Americans who have a mortgage would be able to use some of their home equity to make a significant down payment toward a vacation home, and many are doing just that! According to the same report by NAR:
“33% of vacation buyers purchased in a beach area, 21% purchased on a lakefront, and 15% purchased a vacation home in the country.”
Many homeowners who are close to retirement will use some of their equity to purchase vacation homes, which may eventually become their permanent homes post-retirement!
If you are a homeowner looking to take advantage of your home equity by investing in a vacation home, let’s get together to discuss your options!
Author:Andrea Semanko Phone: 360-840-9309 Dated: January 9th 2019 Views: 51 About Andrea: As a northwest native, I have a great understanding of Skagit, Island and Snohomish Counties as to t...
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About Semanko Realty Group, LLC & Washington Quality Homes
Semanko Realty Group is an independent “Boutique” real estate company in the Puget Sound Region & Greater Seattle/Tacoma Communities. Our agents serve Pierce, King, Snohomish, Island, Skagit & Whatcom Counties.
As lifelong residents of the Pacific Northwest, our agents share the same values as the people who live in the communities throughout the Puget Sound. Whether you plan to live & work locally or need to be an extreme commuter, they'll help you find a place to create that lifestyle. They work well with Home Buyers & Sellers anywhere from Olympia to Bellingham because they've embraced the new technology of the internet. They've successfully placed buyer's & seller's together with the unique marketing methods of Semanko Realty Group as an ”Independent Boutique Presence” throughout the Greater Seattle area. />
Real Estate is simultaneously fun and stressful for most people. Our experience at Semanko Realty Group helps minimize the stress. It keeps our clients and all parties moving in the right direction to close their transactions successfully and on time. This means going the extra mile to navigate the issues, playing nice and staying focused to keep all parties accountable. Our goal is to do more than expected and receive referrals from our clients; it's the best compliment we can receive!