New statistics indicate that the real estate business is showing signs of new life as the economy graduallybegins to improve. And with mortgage rates nearing record lows, some people are rekindling their dream of owning a second home.
Between April 2012 and March 2013 real estate Web site Trulia tracked the 10 most searched for towns for vacation homes. The Web site 24/7 Wall St. analyzed the data that yielded a list of the 10 “Most Popular Towns to Buy a Vacation Home.”
Not surprisingly, North Wildwood came in #2!
Criteria included that the vacation spot be close to home and that that it offers “picturesque natural resources.” Many who buy here are from the Philadelphia and New York areas. And “picturesque”? You bet!
The listing reads:
North Wildwood, N.J.
> Median asking price: $289,000
> Pct. change from 2012: 16.0%
“North Wildwood is kind of affordable — the homes are in close proximity to water and there is newer construction for good prices,” said Becky Chamberlain, a local real estate agent with Coastline Realty. Chamberlain noted that most places that are farther than a block away from the beach are less than $500,000. However, she also said that homes prices in the area have been rising recently, the first time since 2007. Prices have remained stable because, with the exception of relatively minor flooding, the community was spared from the effects of Hurricane Sandy.
Read the entire article at: The Most Popular Towns to Buy a Vacation Home – 24/7 Wall St. http://247wallst.com/2013/05/24/the-most-popular-towns-to-buy-a-vacation-home/#ixzz2UbBfZJe4
