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Good time for vacation property?
Posted on 8/17/20 at 5:51 pm
Posted on 8/17/20 at 5:51 pm
Was talking about Nantucket this weekend and idea is a lot of people will be over extended because summer rentals were down.
Curious if in coming months will be buying opportunity for summer vacation places
Curious if in coming months will be buying opportunity for summer vacation places
2
Posted on 8/17/20 at 5:58 pm to thelawnwranglers
I think it will be location specific, some places will drop, others won’t
Posted on 8/17/20 at 6:00 pm to thelawnwranglers
Depends on where you are talking. Some are moving out of their primaries to take up full time residence in their vacation homes now that it’s been shown you can work from anywhere. Lot of people are also fleeing larger cities. Most are going to suburbs, but some are just going to destination spots.
As for the south, rentals were not down significantly on the gulf coast. Everything pretty much filled up as soon as the beaches were okayed again in May. If anything, sales prices went up. in the Destin/Orange Beach area.
As for the south, rentals were not down significantly on the gulf coast. Everything pretty much filled up as soon as the beaches were okayed again in May. If anything, sales prices went up. in the Destin/Orange Beach area.
This post was edited on 8/18/20 at 6:57 am
Posted on 8/17/20 at 6:03 pm to go ta hell ole miss
quote:
If anything, sales prices went up. in the Destin/Orange Beach area.
I can see that particularly with people wanting to be driving distance
Posted on 8/17/20 at 6:06 pm to go ta hell ole miss
quote:
Some are moving out of their primaries to take up full time residence in their vacation homes now that it’s been shown you can work from anywhere.
Was in cape cod and got paired in golf with someone like this
Thinking enough pressure keep prices strong
Posted on 8/17/20 at 6:11 pm to go ta hell ole miss
quote:
If anything, sales prices went up. in the Destin/Orange Beach area.
Big time, there were some pretty good deals in March with people panic selling but things have skyrocketed since then.
Posted on 8/17/20 at 9:10 pm to go ta hell ole miss
quote:
If anything, sales prices went up. in the Destin/Orange Beach area
I was talking with an investor friend that owns a lot of property in the area and he was saying that inventory is really low right now bc a lot of people have moved to work from home permanently. People would rather a beach view for their “home office” than the suburbs and thus are moving to the beach full time bc they no longer have to be tethered to their traditional office.
Posted on 8/17/20 at 10:19 pm to thelawnwranglers
quote:
I can see that particularly with people wanting to be driving distance
just got back from a cabin we like to stay in MS in homochitto.
it’s booked up solid without even a days gap thru October, owner says she’s never seen rental bookings like this since she’s owned it
Posted on 8/17/20 at 11:38 pm to MikeBRLA
I can tell you that this describes me. We just closed on a house in Fairhope. A lot of it is because I now know that I can operate my business remotely without missing a beat. The COVID stuff put us through a test, but it all worked out seamlessly working remotely.
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