Great Buyer’s Market Real Estate Options in the United States

Great Buyer’s Market Real Estate Options in the United States

Investing in real estate is investing in the future. When choosing where to purchase your next piece of property, you must have a bit of foresight. That being said, in real estate, not all that glitters is gold and one should not always judge property using its current value, but also by gauging its potential value. You may ask what a buyer’s market is, and why you should purchase property in such a market. A buyer’s market in real estate can be defined as a housing market where houses sell more slowly as compared to the rest of the world. In these markets, house prices increase slowly because demand is not competitive enough to warrant an increase in price. Of course, demand for houses is informed by factors such as the job industry in the area, the city amenities and the health of the industries in the area and as such, some buyer’s market properties should be avoided especially if one seeks to recoup their investment within a relatively short period of time.

On the other hand, however, for long term investors, a buyer’s market property can be a perfect option. If one play’s their cards right, then they may be able to find pieces of property in areas that are still in a buyer’s market, but that are quickly developing. Furthermore, many experts suggest that there is a possibility that we are not far from another housing crisis or recession. With such forecasts, it would be counter-intuitive to purchase an expensive piece of property only to see its value plummet.

Below is a list of promising areas that are still in a buyer’s market.

Las Vegas, Nevada

Besides having an immortalized reputation as the word’s gambling and nightlife capital, Vegas is also known to have one of the most stable housing markets in the nation. Amidst the price frenzy going on in many other parts of the country, Las Vegas is still 13 percent away from reaching its peak housing prices.

Vegas is an alluring market for several reasons. For one, the state of Nevada has no income tax. Moreover, it’s full of activities suited to everyone as it is within the general proximity of Los Angeles.

Asheville, North Carolina

Known for its location at the foot of the Appalachian mountains, it’s easy to see why this location is a great investment for someone looking to settle. For those looking for economic vibrancy as their criteria, Asheville is also an important economic hub for southern Appalachia. Besides having a great tourism industry, Asheville also has a booming technology industry as well as a culinary one.

Asheville is listed as a buyer’s market property because of the fact that in this location, buyers have great bargain power. With a median home price of 185,600 dollars, buyers can also expect a 10% discount on properties at the very least. It also has a 4.3 % in 3 years increase in the value of property, once purchased.

Orlando, Florida

Orlando has made a name for itself with its impressive theme park industry. Home to Disney World and Universal Studios, Orlando is a top vacation destination. Located in Florida, the weather here is almost always great. It easy to understand why the average home price here stood at  224, 000 in 2017, higher than the national average of 199, 200. That being said though, Orlando is on this least because, given the value of the area, the fact that it hasn’t recovered to its pre-recession house prices means that buyers can expect a bargain purchase.

Tulsa, Oklahoma

Tulsa has a robust economy that shows no signs of decline. Its vibrant energy industry (several energy firms have their headquarters or branch offices here) and the fact that it is located near one of the world’s largest energy terminals at Cushing, Oklahoma make Tulsa an ideal real estate investment option. Tulsa also has a vibrant tourism industry, thanks to the Ouachita Mountains and its proximity to Little Rock.

Despite these impressive factors, Tulsa’s average house prices that stand at 110, 300 are still way below the national average, making it a gem for long term investors. It also has an impressive 5-year price change of 11.6%s

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Orlando Has Something For Everyone!

Orlando Has Something For Everyone!

Orlando is simply magical. Not just because it is home to 12 theme parks but because of the perfect balance it strikes between being family oriented and also appealing to the individual. Whether one wants to settle down, retire or is simply looking to have a great time, Orlando has got everyone covered. The city is a great place to settle down, raise a family or to retire. It has some of the country’s best hotels and restaurants. For the more adventurous, the city has an amazing nightlife, and not just nightclubs, there are many family-friendly night-time activities too. The shopping scene in Orlando is alive and vibrant. Those looking for a shopping vacation will not be disappointed. Keep reading for more information.

Housing

Orlando is a perfect choice for those looking to buy a house and settle down. Houses in Orlando are affordable and considering the general location, investing in a house in Orlando is investing in quality. Being part of Florida, the city has some of the strongest building code requirements that include missile impact resistant glass, cinder block masonry with concrete pillars and reinforced roofs. Orlando is great for those looking to buy a second home and retire. Florida has been dubbed retirement capital of America, because of its great retirement friendly policies. For instance, those looking for entire communities specifically for retirees can find them Orlando. There are many communities designed specifically for the 55 and over age bracket.

Hotels

Orlando is a city that has been developed with tourists in mind. That being said, there are many hotels to choose from depending on one’s need. Families looking to visit Disney World may choose to stay in several hotels near the amusement park. Waldorf Astoria Orlando is one such place. It strikes a balance between being near Disney World but avoiding the excessive theme park activities. Here, adults may enjoy many of the amenities the resort has to offer, including a golf course. For those looking for more surreal experience may choose the Disney Animal Kingdom Lodge. This resort brings the wild allure of Africa to you. In this resort expect to find zebra and giraffe grazing just beyond your room window.

Nightlife

For those looking to have a great clubbing experience, downtown Orlando has got you covered. Venturing to the area around Lake Eola Park will reveal a whole new world- a world of lights and lasers. Here, expect to see top international DJ’s performing all night. For those looking for a quieter scene, Orlando still does not disappoint. In Wall Street Plaza located in downtown Orlando one may find a more benign bar scene, perfect for those who still want to have a great time, but don’t necessarily want to go all out. Still, for those looking to explore more family-friendly options, Orlando has a plethora of nighttime family activities. Places like Kings Dining and Entertainment on International Drive offer bowling and billiards making it a perfect family-friendly option. Other nighttime activities include Orlando Improv Comedy Club on International Drive and Pointe Orlando. Pointe Orlando offers nightlife, eateries, movie screens and shopping, all in one convenient complex.

Theme Parks

Orlando has made a name for itself with its vibrant theme park scene. It is home to more than ten theme parks, seven of which are among the world’s best. It is said that one cannot cover all of Orlando’s theme parks in one visit! That being said here’s a brief outline of Orlando’s theme parks. Walt Disney World is home to four individual theme parks. They include Magic Kingdom, Animal Kingdom,  Hollywood Studios and Epcot. It is also home to two waterparks, Blizzard Beach and Typhoon Lagoon. As if that is not enough, it is also home to two entertainment, dining and retail complexes as well as four Golf-courses in total. To put things into perspective, Walt Disney alone can encompass the theme park needs of children, teens, and adults all by itself. More astonishingly is the size of some of its theme parks. Animal Kingdom is 500 Acres large while Epcot is 300 Acres. If those don’t cut it, then Universal Orlando also offers a superb theme park experience. Home to famous movie themed sites such as Harry Potter, Universal Orlando is great for all ages. Its resort sprawls a whopping 7oo acres in total.

Shopping

The shopping experience does not disappoint in Orlando. It has a great mix of premium and general outlets that should suit any shoppers needs. Places of interest include Orlando Premium Outlets on International Drive, Florida Mall and the Mall at Millenia.

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Why You Should Invest in Mexico’s Real Estate

Why You Should Invest in Mexico’s Real Estate

In recent years, the real estate sector in Mexico has surged. Just last year, following the election of Andrés Manuel López Obrador as president the real estate market rallied. Mexico has always been a great real estate option for American’s looking for a second home. Its sunny beaches, generally great weather, friendly locals, vibrant culture, low cost of living, as well as its proximity to the United States makes Mexico an ideal country to invest in real estate. Other factors include the fact that the real estate market in Mexico is much more stable than that in America. For more information as to why you should invest in this great country, keep reading.

Low Cost of Living

Research findings from a study conducted by Numbeo- a leader in the analysis of living data- found that Mexican cities have the lowest cost of living in the Americas. The study collected results in 184 from Canada to the southern tip of South America. This, combined with the fact that the U.S dollar has been recording highs against the Mexican Peso means that American’s looking to invest in Mexico should not only expect extremely competitive real estate prices, but also a very affordable cost of living. To be specific, statistics show that grocery prices in the United States are 13.95% higher than those in Mexico. Similarly, restaurant prices in the United States are 125.80% higher than those in Mexico. Moreover, consumer prices in the United States, in general, are 106% higher than those in Mexico.

Friendly People, Vibrant Culture

Mexican culture is what brought Tequila, tortillas, Nachos and more, to America. Its vibrancy and depth are amazing. Despite series like Narcos that paint Mexico as a dangerous place, in general, Mexicans are very warm and welcoming. Furthermore, because Mexico is so close to the United States, its culture is not very foreign to potential investors. In fact, both countries have greatly influenced each other’s cultures. An article published in Forbes magazine listed Mexico as one of the countries where Americans could relocate to with ease.

Proximity to the United States

Mexico is perfect for those looking to experience an entirely new culture, but don’t want to travel too far from home. Mexico’s proximity to the United States is one of the greatest perks of buying property there. One can choose to fly to Mexico, or simply drive. Because of this, those looking to buy a vacation home do not need to spend so much time and money when planning logistics, when they want to spend some time in their homes. Moreover, because of its proximity to the homeland, people investing in vacation homes can expect to find many of the local brands also available in Mexico. Brands such as Home Depot, Walmart, McDonald’s, and Starbucks also have a presence in Mexico too.

Great Return on Investment

For those looking to invest in property for business reasons, Mexico offers an amazing return on investment. Over the past 5 years, the real estate sector in Mexico has boomed. Moreover, because residential mortgage-backed securities are not common in Mexico, the Mexican real estate sector is much more stable than the United States. In terms of figures, those who invest in the more popular areas such as Cancun, Playa del Carmen, Puerto Vallarta, and Baja California, as well as the Riviera Maya region, can expect anywhere from 8-14% return on investment.

Easy Residency and Visa Application

It is relatively easy for U.S. citizens to access permanent residency in Mexico. A report done by Business Insider found that in the past few years there have been more Americans applying for permanent residency in Mexico, than the other way round. If one is not willing to deal with the paperwork involved for permanent residency, they can also access a 6-month tourist visa with ease.

Modern Infrastructure

Investing real estate in Mexico does not come with a tradeoff of poor infrastructure. Mexico has modern infrastructure. Expect great medical care, great schools (including international schools), access to high-speed internet connectivity and a vibrant and international shopping scene.

Bottomline

Mexico is a great choice for investors looking to diversify their real estate portfolio or for those looking to relocate or purchase a vacation home. Its vibrant culture, low cost of living, great return on investment as well as its proximity to the homeland and great infrastructure make it an ideal real estate investment choice.

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All Reports Say Now is the Time to Buy South Lake Tahoe Real Estate

All Reports Say Now is the Time to Buy South Lake Tahoe Real Estate

South Lake Tahoe, California is widely referred to as “America’s All-Year Playground” by its residents, both seasonal and permanent. Bordering the southern shores of famed Lake Tahoe and occupying sixteen square miles of the Sierra Nevada mountains, it is clear why South Lake Tahoe is a favorite destination for vacationers. It’s not in just any city that you can bask on the shores of one of the ten deepest lakes in the world and ski nearby frosty mountain slopes in the same day. With such great surroundings, it makes sense that real estate in South Lake Tahoe is increasing in value.

In recent months, the national housing market has made steady progress. Property values are consistently increasing, with many already having doubled since 2009. Real estate in South Lake Tahoe, specifically, has stayed relatively valuable and is currently becoming more profitable. The median list price increased by 27% to $359,000 since last year and by 7% since last quarter. The median sale price has increased by 17% since last year and by 23% since last quarter. The average list price has remained relatively stable and the number of foreclosures has decreased by 2% since last year. A great indicator of property value is the sale to list price ratio, which compares the price a home sold for to the price it was listed for. The closer to or greater than one the decimal is, the more often homes were sold for equal to or greater than their list price. Since last year, the sale to list price ratio has increased by 6% to .97. A stunning 88% of homes are currently increasing in value, which is 75% more than last year. This is a night-and-day difference from 2009 when just 8.6% of home values in South Lake Tahoe were increasing. While all these signs point to the fact that real estate in this Californian city is going to continue to be very lucrative, there are still opportunities to buy low. This year, 23% of homes have sold under the asking price. So, despite the fact that the market is in an upswing, it’s still possible to find great deals.

Homes in South Lake Tahoe are only on the market for an average of three and a half months before they’re sold – and for good reason! This sunny city offers vacation home buyers a pretty package of amenities including everything from luxurious casinos and golf resorts to canoeing on the largest Alpine lake in North America and running the Lake Tahoe marathon. Indulge your senses at the annual Valhalla’s Art, Music and Theater Festival, which features Renaissance Fairs, community theater performances and art displays. The historic Valhalla Grand Ball and Boathouse Theater have seen significant changes since the 19th century when it served socialites from neighboring regions as a holiday destination. Since its early days, it has been transformed into a cultural hub that represents the eclectic nature of South Lake Tahoe’s community. The city welcomes everyone from bodybuilders who compete in The Tahoe Show fitness show to the concert-goers at the Lake Tahoe Outdoor Arena at Harvey’s. Bring the whole family to watch the Lake in the Sky air show and submit your photos to the online visitor storybook to be published on the town website! You’ll even have the opportunity to enjoy such seasonal festivities as the extraordinary Labor Day fireworks and South Lake Tahoe’s own version of Oktoberfest.

It’s no wonder that real estate in this Californian country is a hot commodity. Be sure to invest in your dream vacation home in South Lake Tahoe soon!

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Real Estate Spotlight: Harvey Cedars, New Jersey

Real Estate Spotlight: Harvey Cedars, New Jersey

If you haven’t yet explored all that the New Jersey coast has to offer, take a look at the real estate in Harvey Cedars – a beach city that’s modest in size but great in spirit. One of New Jersey’s most prized communities, Harvey Cedars expands little more than 1 square mile on Long Beach Island, yet it boasts some of the most sought-after luxury homes in all of Ocean County. The permanent population rests in the neighborhood of 330, but the summer brings approximately 2,000 more seasonal residents. With a booming summer community and gorgeous aesthetics, Harvey Cedars is a one-stop vacation destination.

The island’s housing market has been steadily improving. For the period ending on June 26th, most zip codes in Ocean County saw a significant week-over-week improvement in list prices. The current median list price for homes in Harvey Cedars is $1,120,000, a 6.7% increase since last year and a .8% increase since last week. The median amount that sellers are actually receiving for their property is $950,000, a stunning 22% increase since last year. The borough’s serene character and coastal setting make its vacation homes hot commodities. Indeed, Harvey Cedars’ rank as the seventh smallest city in the state increases demand its real estate. With such a limited supply of personal palaces, interested buyers should invest while the market is on the upswing.

While the town’s physical area is humble, the property within the city limits has been assessed at over $1.3 billion. In the last year, all home sales returned a profit and 80% of all unsold homes are reportedly increasing in value, which is a 54% increase since last year. These promising numbers undoubtedly contribute to the mere four-month average that Harvey Cedars homes stay on the market.

While the property values and dollar amounts of these vacation homes are impressive in themselves, the island community has a great deal more to offer. Residents enjoy a relaxing lifestyle with a variety of enterprises available to engage in. Of the many city camps, there is sure to be at least one that the kids will enjoy. Whether it’s the Martyn Rushmore Soccer Camp, the Van Grow Art Camp or the various baseball and lacrosse programs, family-friendly activities and community sponsored “Kids’ Nights” are popular on the island.

Founded in 1894 and establishing early success as a fishing community, Harvey Cedars has always promoted water and beach activities. Numerous lifeguard training courses are available indoors and out, and there is even a tournament for trainees to compete against one another each summer. Adults can energize with yoga on the beach or compete in golf and fishing tournaments. Concerts in the city park and craft sessions on the beach are two of the most popular pastimes for vacationers. The city also holds more whimsical events such as crab racing and an annual “Anything Floats” race in which participants can race anything that floats in water.

Since Harvey Cedars real estate values are steadily rising and its heavenly houses are only increasing in demand, what better time could there be to lock down your dream vacation home than now?

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Real Estate Value in Santa Rosa Beach is Increasing

Real Estate Value in Santa Rosa Beach is Increasing

Santa Rosa Beach is one of Florida’s most prestigious beach communities with some of the most desired real estate on the Emerald Coast. Occupying the southern shores of the Choctawhatchee Bay, Santa Rosa Beach includes 65 square miles of luxury beach houses, fine dining, exquisite art, performance venues and eco-activities. The city was founded in 1910 but has kept up with the times and seen great innovations throughout its history. Amphitheaters, spas and upscale shopping are only a few of the charms that make Santa Rosa Beach a complete package for vacation home buyers.

As the saying goes, the only thing you can count on is that everything will change. And because of this, scientists and statisticians have developed ways of analyzing trends to help project aspects of the future. One definite trend that housing market analysts have identified over the last few months is that real estate values are increasing. It’s a fact. This is a welcome report for homeowners across the country, and it also means that potential home buyers will benefit by investing sooner rather than later. But while property values are on the rise, so are mortgage rates. The 30-year fixed-rate mortgage has long maintained a national average of about 3.5%, but this week it’s risen to a whopping 4.2%. With a week-over-week increase like that, those interested in securing a mortgage should do so quickly.

During this time of fluctuation, the Santa Rosa Beach housing market has been doing particularly well. The median estimated market value rose 9.9% from last year to $325,000, and the average list price rose as well, moving up 11.8% to $459,000. The biggest increase of all, though, was the median sale price, which rose a colossal 20.1% to $322,700. Over three-fourths of all homes in Santa Rosa Beach is increasing in value, which is approximately 16% more than last year and the number of homes that were sold for gain has risen 8% since last year. Situated just a short drive from Laguna Beach yet with so much to do in the city, itself, it’s no wonder these vacation homes are only on the market for around 200 days.

While life in Santa Rosa Beach is undeniably lavish, there is a great deal of diversity when it comes to culture, lifestyle and activities. Yahoo! Travel named Santa Rosa Beach one of the “10 Best Beach Destinations for 2011” and commended its “lapping waves and cool sand,” among other delights. The self-labeled artists’ colony offers many outlets for enjoying creative ingenuity. Among these is an abundance of local galleries, performances at both the Seaside and Topsail Hill amphitheaters, concerts at the Baytown Wharf and unique upscale cuisine. Those with a fondness for the outdoors will appreciate Santa Rosa Beach’s ample opportunities for adventure. Vacationers can feel free to explore the environment in Eden Gardens State Park or dip into the bay at one of the many kayak rental spots. Fun is waiting for the whole family at the E.O. Wilson Biophilia Center that frequently features special events like “Alligator Adventures”. While the kids are at a summer day camp, parents can enjoy one of the town’s Parents’ Nights Out and unwind with a sunset movie on the beach. Many residents take a break from their daily lives and refresh with a bike ride courtesy of one of the many rental sites in the area and then relax at the Serenity by the Sea spa.

Based on today’s market reports, one thing is certain: Real estate values are on the rise. So start by taking a look at vacation homes in the colorful Santa Rosa Beach and begin your investment early.

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Vacation Homes and Rentals in Cancun, Mexico

Vacation Homes and Rentals in Cancun, Mexico

TripAdvisor, one of the world’s largest online sources for travel information, has named Cancun, Mexico the “Friendliest Tourist City” in its latest survey. The pristine beaches, exquisite restaurants, the hopping nightlife, and ancient Mayan ruins are all reasons why millions of tourists visit each year. Cancun, Mexico remains the top international destination for North American tourists; it is no wonder why many people are choosing to buy a vacation home or a vacation rental.

Over 3.8 million tourists visited Cancun in 2012, making it Mexico’s number 1 tourist city. The Cancun Convention and Visitors Bureau reported that 2 million visitors have already vacationed in Cancun this year, making it the most successful spring season ever! This is a major reason why real estate developers, entrepreneurs, and regular people alike, are capitalizing on this trend by buying property for sale, either to flip it, rent it out part time or full time, or to have a vacation home as a getaway retreat.

Cancun, Mexico is divided into two main sections, the Hotel Zone, which is actually part of the world’s second-longest coral reef, and the downtown or mainland area known as El Centro, which features various gardens, a colorful central market, parks and other public areas.

When comparing real estate, the difference between the Hotel Zone and the rest of Cancun is the cost of living. A two-bedroom vacation rental in the Hotel Zone costs on average from $1,500 to $3,000 US. Dollars a month, depending on the season. The rent drops in El Centro and the residential areas west of the downtown area. A two-bedroom condo or apartment rental costs around $1,000 USD, and the further west you go the lower the prices drop.

Mexico’s long-established Foreign Investment Law allows non-Mexicans to acquire coastal and border property through bank trusts that are held by a Mexican bank. This secure ownership mechanism along with cheap property has enticed investors and tourists for decades. Non-beach front vacation homes in Cancun cost on average between $35,000 to $45,000 USD for two to three-bedroom condos and apartments. Newer apartments go for as little as $100,000 US dollars to $200,000.

The variety of luxury real estate for sale in Cancun, Mexico can’t get any better for the price. From multiple story homes on the waterfront, to large villas with thousands of acres, condominiums in gated communities, all with or without amenities of your choosing such as: pools, tennis courts, fitness centers, etc. can be found!

The higher end homes, ones with 5-bedrooms/5 baths and over 12,000 square footage list on average around $5 million USD. Expect these homes to have at least 2-3 stories, multiple garages, guest cottages on site, hot tubs, pools, and built within the last five years. A home with 5,000-7,000 square feet, list for on average between $2 million to $3 million.

Economists agree that buying a vacation home or rental is generally considered a good investment. With solid capital growth and an ever increasing number of tourists traveling to the region, these trends promise strong rental yields of around 6 to 10 percent, annually. Of course the best way to decide whether to own real estate is to travel to the “Friendliest Tourist City” and see for yourself. As the adage goes you should always try before you buy.

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Hilton Head Island, South Carolina Vacation Homes

Hilton Head Island, South Carolina Vacation Homes

The Hilton Head Island in South Carolina, as we know it today, began as an extraordinary vision of one man, Charles Fraser. His dream was to create a unique vacation resort destination where environmental concerns were intertwined with its development. As a result of the eco-friendly development, Hilton Head Island which is only 42 square miles, has the largest number of parks, recreation and bike trails for a community of its size. Along with 12 miles of beachfront, Hilton Head Island is one of the premier destinations for nature enthusiasts.

With a year-round population of 37,099 according to the 2010 census, during the peak of the summer vacation season, the population can swell to 275,000! Vacationers come to enjoy more than 30 public golf courses, 300 tennis courts, horseback riding along the beach, eco-tours of the Island’s nature preserves, sailing, deep sea fishing, windsurfing, crabbing, canoeing, exploring, and birding. The outdoor activities have transformed Hilton Head Island’s vacation home and rental real estate market, where one can make a small fortune, often up to $4,000 a week renting out during the busy season.

Purchasers looking for a bargain, particularly near the beach, need to be aware of an anomaly in market dynamics. The average days-on-market for the homes that sold on the Island was 136 during the past year, but foreclosures were on the market for just 66 days. Foreclosures in the beach-oriented communities of Port Royal, Folly Field, Singleton/Burkes/Bradley Beaches, Palmetto Dunes, Forest Beach and Sea Pines were on the market for a scant 41 days.

For the 12-month period spanning March 2012 through March 2013, pending sales in the Hilton Head region were up 20.7 percent overall. All property sales from that same time period are broken down below:

 March 2013March 2012Year over Year
Median Sales Price$225,000$191,000+ 17.3%
Average Sales Price$304,275$331,155-8.1%
Days on Market121136-10.5%
New Listings497555-10.4%

Market-wide, inventory levels are down 16.2 percent and new listings are down 10.4 percent. However, there are still many opportunities to find vacation homes and vacation rentals that can turn a profit. The property type with the largest price gain was the Condo segment, where prices increased 26.7 percent to $167,250. No matter what type of property you may be looking for, keep in mind that during the spring and summer months prices rise significantly and homes sell much quicker due to the influx of vacationers.

Hilton Head Island offers a large number of cultural opportunities, which is another reason the population skyrockets part of the year. These include: Broadway-quality plays at the Arts Center of Coastal Carolina, the 120-member full chorus of the Hilton Head Choral Society, the highly-rated Hilton Head Symphony Orchestra, the largest annual outdoor wine tasting event on the East Coast, and several other annual community festivals. It also hosts the Heritage Golf Classic, a major stop on the PGA Tour.

Over the past decade, the Island’s population growth rate has been around 32 percent, with no signs of slowing down. Hilton Head, has long been a favorite destination for those looking for the balance between quiet country life, as over 70% of communities are gated, and a lively cultural scene true to South Carolina’s reputation and charm. Even with the growth and development happening, the Island has stayed true to Charles Fraser’s vision- a truly a unique resort destination.

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A Real Estate Trend in Mexico for Vacation Homes in 2013

A Real Estate Trend in Mexico for Vacation Homes in 2013

It’s that time of year again. It’s getting cold up north and that means it time to head south for a quick vacation. But for some travelers, they’ll come back home next year with more than just a sunburn and a few souvenirs. Thousands of American and Canadians will be heading down to Mexico this winter and will be coming back as the proud new owners of a vacation home.

For many of them, it’s been a long time dream to own a vacation home in Mexico. Some have spent years doing their due diligence and researching the best place to buy. And now that they’re in the final stages of the home buying process, they’re ready to pull the trigger, but they want to be certain they’re really buying the house that’s right for them.

And this final step leads us to what has been a major real estate trend in Mexico for the last few years. Potential buyers have been trying out a home before they buy it on an ever-increasing pace. They’re arranging to spend a few nights in the home to get a better feel for it.

And this is usually very easy for sellers to accommodate since many vacation homes in Mexico are already being used as vacation rentals by the owners. This is especially true of vacation homes in popular tourist destinations like Cancun, Cabo San Lucas, and Puerto Vallarta.

Now, the buyers aren’t the only ones who benefit from this “Spend the night” concept.

Home sellers are actually the biggest winners.

Studies show that the most likely to buy prospective buyer is someone who stays in a home they’re considering buying. Any resort developer with rental inventory that can be used to provide lodging to prospective buyers knows this statistic all too well.

Even more interesting, among the biggest proponents of the “spend the night” concept are 55+ communities. They frequently use formalized “Discovery Weekend” packages to entice potential buyers to spend the night. In fact, Del Webb, a major developer of 55+ communities was able to attribute 50% of their sales from “Discovery Weekend” buyers in a recent year.

Well…this wonderful method of buying and selling homes has now truly taken root in Mexico.

So, if you’re considering buying a vacation home in Mexico this year, take advantage of one of the fastest growing real estate trends. And even if you don’t buy, you’ll still have a great vacation!

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