Purchase Another Vacation Rental? Why Not
Jon Ludwig
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Article Title:
Purchase Another Vacation Rental? Why Not
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Article Description:
As a vacation home rental owner and operator of a vacation
rentals by owner advertising website, I have been following the
situation closely with regards to the recent sharp decline in
both real estate prices (commercial and single family homes) and
the stock market. Like a lot of investors out there that I have
spoken with, I pulled my savings out of the stock market a few
months ago (phew...) and have been wondering what to do with my
investment capital.
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Distribution Date and Time: 2010-01-19 12:45:00
Written By: Jon Ludwig
Copyright: 2009-2010
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Purchase Another Vacation Rental? Why Not
Copyright (c) 2009-2010 Jon Ludwig
Find Vacation Rentals
http://www.findvacationrentals.com/
Fellow Vacation Rental Owners:
As a vacation home rental owner and operator of a vacation
rentals by owner advertising website, I have been following the
situation closely with regards to the recent sharp decline in
both real estate prices (commercial and single family homes) and
the stock market. Like a lot of investors out there that I have
spoken with, I pulled my savings out of the stock market a few
months ago (phew...) and have been wondering what to do with my
investment capital.
I recently read an article on the RIS Media site at the URL
http://rismedia.com/wp/2008-07-16/the-upside-of-a-downturn-buyers-get-more-house-for-their-money/
This was an interesting read - their main point was that housing
prices in many markets have declined significantly in the last
several months, making it a good time to consider investing in
real estate. Based on my own experience, this is especially true
in real estate markets where one tends to find a lot of vacation
rentals. Those markets seem to be driven by speculation as
opposed to serious longer term investors.
Based on that, I did some research of my own to verify that was
I suspected was true was actually true. I looked at some of the
inventory on my vacation rentals advertising website, including
the markets I am most familiar with. This included Kissimmee FL,
Destin Beach, FL, Lake Tahoe, CA, Breckenridge, CO, and Las
Vegas, Nevada. I looked at how many listings we had in each of
those markets, and I looked at general real estate data showing
foreclosures and overall pricing levels. What I found was that
while our number of active listings in each of those markets
either stayed about the same or increased in the past several
months, those markets were extremely hard hit with the recent
decline in overall real estate prices.
Assuming vacation rentals owners are rational, they will not
continue to pay to advertise their vacation rentals if there is
no demand for their vacation rentals by renters. In my own
vacation rentals in Florida and Tennessee, I have seen farily
steady demand. I have had to offer some discounts, but that is
mostly because everyone that is traveling seems to think that it
should be at a greatly reduced price due to the overall economy
being where it is.
So, all that said, I have concluded the following:
* I am still very nervous about re-investing in the stock
market; real estate is looking pretty much like it is at a bottom
right now.
* The demand from renters for vacation rentals is still pretty
strong.
* By picking up vacation rentals investment properties for up to
40% less than what they sold for a year ago, my mortgage payment
will be lower, which will increase my potential cashflow from the
vacation rental.
* I am going to look for some really good deals on properties in
markets that have been hit pretty hard by sharp price declines
due to the speculators getting flushed out of the market.
* I am going to get creative on the discounting of my vacation
rentals so if I do happen to pick one up in this buyer's market,
I'll be sure to keep it as utilized as I can so I can cover my
costs.
Best of luck to the rest of the owner community out there,
Jon Ludwig
This article originally published with links, here:
http://www.vacationrentalsindustry.com/blog/
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Jon Ludwig owns and operates the Find Vacation Rentals
website, located at: http://www.findvacationrentals.com/
If you are looking for special recession pricing on vacation
rentals by owner, which are available to the public, see:
http://www.findvacationrentals.com/cheap-vacation-rentals.html
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