Affordable Second Homes and Vacation Homes

Grande Dunes Myrtle Beach Model HomeToday the housing prices are more affordable than ever! Not only are the primary homes affordable but the secondary homes are now just as easy to come by. According to The Wall Street Journal, secondary homes use to be out of price range for many but now they are viable options. This means that homes that once were $1,000,000+ are now being offered for significantly less. For instance, Myrtle Beach has had a number of properties that sold for over 1 million a few years ago now listed well under 1 million. Another property in Hilton Head Island, South Carolina sold for $1.2 million back in June 2006. That same property was resold in April 2011 for $750,000. Price cuts such as this are making buyers take note and are seizing these great opportunities. However, The Wall Street Journal indicates that the second home housing market won’t stay this way forever so those who are looking to buy should seize the moment. According to the National Association of Realtors, more than 80 percent of second home buyers have bought their homes for the enjoyment and a place to live. Last year 36 percent of the vacation home sales were all cash transactions and that increased from 2009 when the figure was just under 30 percent. If you are looking for a second home, then now may be the best time to shop and find a great bargain!