Voice of Reno-Tahoe Real Estate
Second Home Purchases account for 1/3 of all Sales in 2007
The National Association of Realtors reports that second home sales accounted for about one third of all home sales in 2007. Second home sales drive a substantial piece of the Lake Tahoe/Northern Nevada market place as well.
In the intermediate and long term second home sales will play an important role in price increases in the area. Market place growth, tax incentives, attractive retirement, and natural ammenities will be attractive to both primary and second home buyers. You can bet that demand will drive prices higher in the long term.
In the intermediate and long term second home sales will play an important role in price increases in the area. Market place growth, tax incentives, attractive retirement, and natural ammenities will be attractive to both primary and second home buyers. You can bet that demand will drive prices higher in the long term.
Tags: benefits, home, homes, sales, second, tax
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Replies to This Discussion
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Permalink Reply by Trinkie Watson on -
There's no question that the second home market sales at Lake Tahoe and Truckee have dropped in the last year. However, there won't be any more of Lake Tahoe and available land in Truckee is limited as well. The beauty and appeal of this area continues to draw visitors and new residents. As California grows, the cities and urban areas become increasingly crowded, prompting even more interest in that 'getaway' spot or even a new place to live. We've been through real esatate downturns before, and if you look at the median price escalation over several years, you'll see that investment in this area is a winner! Now is a great time to obtain ownership as interest rates are fabulous, selection is abundant and prices are very appealing. Call a Chase agent to help secure your Reno Tahoe ownership experience!
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