Smart To Buy A Vacation Home Now

Lately, you've been thinking alot about investing strategies. You have a small nest egg that needs to grow, but frankly, you don't trust the stock market. And while real estate has been somewhat a rocky road in recent years, it's still a solid long-term investment strategy-and clearly we are in a buyer's market. But you aren't interested in being a landlord. So what can you do?

Purchase a vacation home and rent it out to travelers! Vacation homes are almost always a good investment. Why? Vacation properties have the ability to pay for themselves, and owners often earn a profit in rental income. Also, the investment comes with the desirable perk of having a place at the beach or in the mountains to call your own.

Here is why there's never been a better time to go vacation house hunting:

1. There's never been so many properties on the market. Once you have pinpointed the vacation rental market that is right for you-the coast, the mountains, ski resort area- you will likely have a lot of properties to choose from.

2. Prices aren't going to get much better. In fact, they're the lowest they've been in five to ten years.

3. Interest rates are very favorable for purchasing. Take advantage of them while they last.

4. You have access to the best real estate professionals. Anyone connected to the housing market who managed to survive the housing crash had to be at the top of his or her game. That means the agents left standing are possibly the best of the best.

5. It's never been easier to rent your vacation home. More and more consumers are choosing to stay in cozy condos, cabins,and chalets instead of cramped, impersonal hotel rooms when they travel.

6. If you buy now, you can be ready for the 2011 peak season. Experienced vacation homeowners often find that the rental fees generated during the twelve weeks between Memorial Day and Labor Day pay their mortgages for an entire year-and most inquiries come between January and March.

So, if you're ready to make the move on buying a vacation home, give me a call, Lisa Longest, with Exit Gold Realty to start the search. Call me at 443-786-4200 or my office at 410-643-4111

Mid-Shore Maryland Sees 812 Foreclosures in 2009

For homeowners, the thought of losing their home and all the hard work they have put into maintaining it can be paralyzing. But residents should know that there are programs available to help them keep there home, and that early action is the best prevention against foreclosure.

In 2009, there were 812 foreclosures filed in circuit court on the Mid-Shore- 219 in Queen Anne's County, 192 in kent, 154 in caroline, 146 in Talbot and 101 in Dorchester, according to Sandy Brown, executive director of Mid-Shore Pro Bono. (Mid-Shore Pro Bono is a new non-profit organization that provides free legal assistance to low-income families).

As soon as a homeowner sees they are going to be unable to make payments on their mortgage, contact me or Exit Gold Realty to speak to a Default Resolution Specialist. You don't have to lose your home.

Why Wait??? The Hazard Of Timing The Market

Buyers who choose to wait until prices come down are also gambling that interest rates will hold steady or drop. What is not widely understood is the impact interest rates can have on the monthly costs of home ownership. Even a 10% drop in home prices is immediately nullified by a mere 1% point increase in interest rates on a 30-year mortgage loan.