MSN money counts Asheville in North Carolina as one of the top ten towns for second home investment. One of the reputed magazines calls it one of the Top 15 dream towns to reinvent your life. So now that you are thinking about buying a cute little summer home, why not Asheville? |
Real estate owners say now is the time to invest. But up until now, summer houses used to be a matter of luxury and owned only by the rich and the affluent.
Come recession though, that thought is history. With easy credit flowing, every other individual can afford to buy a summer house in one of the five cities called special by USA Today-Asheville. Real estate owners in fact affirm that they have seen a tremendous rise in their sales during recession.
So why this sudden "hoo haa" among real estate experts about investing in a second/summer homes during recession? This is simply because housing prices take a nosedive during such times. Besides this, there is also a fall in stock prices and interest rates.
What is important while buying a real estate property is to keep in mind the price at which you are getting it. When property prices fall, it doesn't really matter how much they fall, what matters here is how much you are able to invest in them when they are limping back. Asheville, real estate agents claim had more sellers than buyers when recession started.
However, now the scenario has changed, there are more of buyers investing in summer homes than sellers. Also the fact that turbulent times call for more reasons for getaways, adds weight to people's decision to invest in a summer home. Thanks to the economic global meltdown, the property prices drop and people take advantage of this time and invest all their saved money in buying a second home for themselves.
The moment the market recovers, they sell the same property at a much higher rate than they had actually bought. So in short, recession is a blessing in disguise to help you invest wisely and as per your desire.
You can invest in a second home and rent it out as well, so that the income that you get out of it serves as some relief during such financially sticky times. Real estate is the best place to invest at any time of the year.
All you need to think about is whether the place is worth investing the amount you have decided to put in, whether the resale value will fetch you enough money to cover your investment and how good the property is. So what are you waiting for, think wise and invest at the right place to overcome the hard time called recession! Plan it right and yield the fruits it bears.
In Asheville real estate professionals can help to deliver the home you expect on time and without any difficulties. To learn more about investing in this urban haven, visit http://www.preferredrealestatecenter.com
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