A recent article in the Wall Street Journal on the state of the national second homes market caught our eye. The article entitled – Vacation Homes Beckon – Market Conditions Improving in Some High End Locales painted a rather positive outlook for anyone potentially buying a second home. However, we are certain of only one 1 thing in this market which is outlined below.
We want to be very clear, we make no attempts to speculate or give advice concerning the value and price direction for real estate. We keep our keen focus on the status of the local vacation home rental market, and not buying a 2nd home in Orlando. The WSJ piece is interesting simply because so many predictions have been made about buying a rental home in the most recent economic downturn, and this is yet another one.
Having said that, the article does state that there are signs of a bottom in higher end markets mostly in California, Florida and Utah. The primary source of the article is Moody’s Analytics, an economic research and consulting firm, who clearly state that the signs of a bottom are forming. They balance this by also emphasizing the short term murkiness for local second home values. Once again, this is the company’s analysis, and not necessarily ours.
“… the bottom for vacation homes will be clear only in retrospect” – Mark Zandi, Chief Economist, Moody’s Analytics
In other words, purchasing a second home involves potential risk.
However, there is one thing we can state with certainty – second homes and vacation homes make great places to stay while on vacation. In Central Florida for instance, there are over 80 neighborhoods that cater to travelers coming for the theme parks or for conventions. Take your pick, there is a vacation resort in Orlando close to almost any destination. Be it SeaWorld®, Universal Orlando Resort®, Walt Disney World®, Legoland® Florida or the Orange County Convention Center, there is a perfect vacation villa within minutes of your selected vacation destination.
This website provides critiques and profiles for many of these resort communities. All details within the individual resort profile are designed to help one make an educated decision. As we always say, not all vacation home rentals are created equal. We rate each community from 1 to 5 stars based on an established criteria set forth in our disclaimer.
If you have any questions regarding rates, availability or specific vacation villa details, please give us a call at 407-966-4144. There are still some great values available. Have a great vacation!
