Posted on September 4th, 2007 by Tim Menk
For twenty years the National Trust for Historic Preservation has issued a list of the “Most Endangered Historic Spaces” in the United States. This broadly defined category in past years has designated buildings and neighborhoods threatened by development. In 2004 the Trust defined the entire State of Vermont as being endangered by development pressures.
This year’s list includes a waterfront industrial area in Brooklyn, NY and a 16th century trading route in New Mexico. While these and past designations have been largely symbolic, they can provide momentum to efforts to protect listed buildings and places.
Visit Realty Times for an article about the issue, and the National Trust for Historic Preservation has this year’s list available, as well as lists from previous years.
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Filed under: Market, National, News, Vacation Homes | No Comments »
Posted on August 2nd, 2007 by Tim Menk
In today’s economy, more vacation homeowners are looking to earn rental income from their vacation homes while they are not in use by family members. This can be a great way to subsidize property taxes, maintenance costs and other carrying costs of vacation home ownership.
If you are considering renting your vacation home for extra income, Realtor.org has some helpful hints.
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Filed under: Investment Homes, National, Vacation Homes | No Comments »
Posted on June 27th, 2007 by Tim Menk
These days, when it come to the U.S. residential real estate market, it seems as if behind every silver lining there’s a cloud. Faced with rising mortgage rates, failing sub-prime loans, bankruptcies and foreclosures up; what’s an optimist to do? And especially someone who has a house on the market, (like me!).
Being a glass is half full kind of guy, I read as many articles on the market as I can, looking for helpful selling hints and for signs that there is light at the end of the proverbial tunnel. My brother, ever the pessimist, said that light was the headlight of an oncoming train. He never won me over to the dark side.
This week my persistence was rewarded when I found a detailed article on the attitudes of U.S. homeowners that supports cause of hope. Apparently there are more optimists in the U.S. population than the gloom and doom headlines would lead one to believe.
According to a study recently quoted by RealtyTimes, “fifty-five percent of Americans say their home would sell for more money now than it would have a year ago. That’s down from 59 percent last summer, but still a majority, according to a recently released survey by Michaels Opinion Research, Inc. conducted for the Boston Consulting Group.”
In case you are in need of an additional dose of good news about the housing market, you can read the whole article.
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Posted on June 22nd, 2007 by Tim Menk
Many seasonal homeowners don’t want to get enmeshed in community affairs in the vacation community where they own a second home. After all they are on vacation, “why spend time at meetings, I do that at home?”
As part of an increasing trend, some second homeowners around the U.S. are not only spending time at community meetings in their vacation community, they are running for office there!
With development pressures so high, some second homeowners in communities with a large proportion of seasonal homes are opting for greater involvement in local governmental affairs. Some want a say on local zoning issues, others seek to protect their rights and property values against commercial pressures and sometimes rampant over development.
In some jurisdictions, the idea of allowing other than full time residents voting in local elections is not only unthinkable, it’s illegal. Some might even think it’s unconstitutional. Isn’t it supposed to be one person, one vote?
What do you think about this idea? We’d be interested in hearing your opinion. In the meantime, the New York Times has a detailed article on the subject that’s worth checking out.
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Filed under: Investment Homes, Local, National, News, Taxes, Vacation Homes | No Comments »
Posted on June 19th, 2007 by Tim Menk
According to a number of indicators, the residential real estate market may finally be on the verge of turning back into positive territory. While there are still some markets in distress, (primarily those where prices had risen most steeply during the boom times), there are a number of statistics that when taken together promise at least a moderate rebound in coming months.
For those buyers who have been waiting for a continuing cycle of lower prices, the time may have arrived to stop sitting on the sidelines. Interest rates are predicted to begin a move upward soon, in part driven by expectations of a return to higher sales volume in the residential market.
Realty Times has an article that summarizes the market facts that point to the market having reached bottom and showing signs of turning around. It also advances the argument that buyers should strike now, rather than holding out for lower prices that may not materialize.
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Filed under: Buying, Investment Homes, Market, National, News, Selling, Vacation Homes | 2 Comments »
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