With real estate prices down and the timing of a recover uncertain, buying a vacation home might be the last thing that people are thinking about. The truth is that if you have the means, there are some pretty amazing deals on properties in some of the most popular vacation spots in the United States. If you are in the market, these are just a few places where you can find a great vacation home, at an affordable price.
In Myrtle Beach, South Carolina, the median sales price of a home is down 34.5% from just five years ago. The average price per square foot right now is at $88 a square foot, about the same pricing as you would have found in the summer of 2004. South of Myrtle Beach is another popular South Carolina vacation destination, Hilton Head. In Hilton Head, you will find median sales prices more than 35% below the peak in 2006 with an average price per square foot of under $170.
If you prefer the picture perfect weather of sunny California when you head off on vacation, there are several cities that are sure to fit the bill. Many of the state’s top vacation spots have incredible deals on real estate. If the desert spa and golf experience is the vacation experience you are after, Palm Springs has seen the median sales price drop over 50% from their peak. If visiting wine country on your vacation is more your style, homes in Napa can be found at 49.8% below their peak. If you like to ski, in Truckee, California you can find amazing vacation properties at more than 40% below their peak.
If you want a vacation home in a place where you can hit the beach then you are in luck. There are amazing homes in beautiful Carmel, California that are prices more than 45% below their peak in 2006. Home prices in Key West, Florida are creeping up, but they are still down over 60% from their peak.
There are even fantastic values to be found in the incredible vacation fantasy land of Honolulu, Hawaii. On the big island, home prices dropped more than 20% from peak to trough, and are down almost 9% since the summer of 2008. The price drops here are not as steep as in many other areas, but this may appeal to those who want a vacation home in a more stable market. Honolulu home prices are up almost 5% since last year.
Credit is somewhat challenging to come by in these days, but if you are looking to purchase a vacation home, the prices have never been better. If you have a real estate license and are working in a formerly booming resort area, it’s time to dust that baby off and get back to work! Buyers are coming in to pick up some once in a life-time deals! If you don’t have a license and you live in one of these states, now would be a great time to get one. Here are some links on How to enroll in real estate license courses for some popular vacation states.
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About David Goldstein — David Goldstein is an Owner and Founding Partner of Express Schools, LLC. which operates online education providers Real Estate Express, Insurance License Express and License Tutor. Follow him on Twitter.