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Role Of Real Estate Agent In Vacation And Second Home Markets
Role Of Real Estate Agent In Vacation And Following Home Markets
Role Of Real Estate Agent In Vacation And Following Home Markets
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Home Page > Finance > Real Estate > Role Of Real Estate Agent In Vacation And Following Home Markets
Role Of Real Estate Agent In Vacation And Following Home Markets
Posted: Jan 14, 2007 |Observations: 0
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Role Of Real Estate Agent In Vacation And Following Home Markets
About the Author
San Diego Homes
Rancho Penasquitos Condos
Rancho Penasquitos Homes
(ArticlesBase SC #91941)
Article Source: http://www.articlesbase.com/ – Role Of Real Estate Agent In Vacation And Following Home Markets
Following home sales have been increasing over the last few years with more people becoming following home owners. In 2005 alone, 40 percent of the homes sold were following homes. Demographics, all time low mortgage rates, and healthy rise in home prices have contributed to this enhancement in the following home market. Besides these, a major factor that has helped augment the buying and selling of following homes is the real estate professional.
The National Association of Realtors conducted research on the profile of following-home owners in 2006. According to the NAR report entitled ’2006 Profile of Following-Home Owners’, a majority of following home sales transactions are conducted using the services of real estate agents.
The statistics are remarkable; 64 % of vacation home buyers bought their home using the services of a real estate agent by the end of 2005 – a marked increase from less than 50 % of vacation-home buyers in 2003. Also, 65 % of investment-home buyers bought their home with the help of a real estate agent – an increase from 53 % of pre-2003. In comparison, only 14 % of vacation-home buyers and 7 % of investment-home buyers bought directly from builders from 2003 to 2005.
The growing role of the real estate professional is evident from the following figures:
1. Of vacation home sales made, 71 % of them were following homes and 74 % of the sales were made using the services of a real estate agent.
2. Of the investment properties sold, 85 % of them were previously owned and 62 % of the sales were made using the services of a real estate agent.
The use of real estate agents in following home sales transactions varied according to the home’ location.
1. Buyers used a real estate agent more frequently even as purchasing a vacation home located in a suburb/subdivision (56 %) or a rural area (57 %) than for homes in other locations.
2. About 66 % of buyers who bought an investment property in an urban/inner city area or in a suburb/subdivision, used the services of a real estate agent more frequently than those who bought a home in other locations.
Real estate professionals continue to be the first source of information to following-home buyers (38 % of vacation-home buyers and 34 % of investment-home buyers). The real estate professional also plays a major role when following-home owners plot to buy additional properties. If you are thought of buying a following home or vacation home, seek out the services of a real estate agent to guide you through your next home hold.
1. The percentage of following home owners who are more likely to use a real estate agent in their next home hold is quite high. Among vacation-home owners it is 79 % and investment-home owners 73 %.
2. Among following home owners, 65 % of vacation-home owners and 64% of investment-property owners are more likely to use a real estate agent in their next home sales.
Given these statistics, it is no wonder that the real estate agent plays a pivotal role in helping people buy and sell following homes. So whether you are a following-home buyer or seller, enlist the services of an agent for a smooth, hassle free real estate transaction.
Retrieved from “http://www.articlesbase.com/real-estate-articles/role-of-real-estate-agent-in-vacation-and-following-home-markets-91941.html”
(ArticlesBase SC #91941)
Real Estate Advisor -
About the Author:
San Diego Homes
Rancho Penasquitos Condos
Rancho Penasquitos Homes
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homes, condos, real estate, condominiums, buyer, seller, san diego, rancho penasquitos, following, vacation, mls
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How should I go about financing a second rental property?
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