Category Archives: Second home demographics
Those of us in real estate know that when the housing market plummets, vacation places plummet the most. Second homes are most often discretionary purchases you wait on until you feel flush with cash.
Madre and Padre Viva With the Kids: How The Hispanic Housing Boom Will Affect Texas Real Estate & Mexicans Building U.S. Fortesses
I caught up with Vern Yip, star of HGTV’s way popular design shows, when he popped in to visit I.O. Metro up near the Dallas Galleria last week. Yip has a new partnership with the Little Rock, Arkansas-based store that offers a wide variety of stylish, sleek but hip, good-looking and comfortable home furnishings at most affordable prices and a “made in America” stamp/tag. Yips fans were busting down the door, first in the Allen store, then at the Galleria location. Many brought design dilemmas — and he was so gracious! Yip has formed a new alliance with I.O., will be seen in advertising campaigns and is offering “Vern’s Picks” throughout the stores — these all items Yip has selected as design must-haves.
I feel like some House Porn Candy (I’m trying to go on a diet and stick with Candy instead of Porn) and when I saw this home at gorgeous Cinnamon Shore last weekend, I seriously said — I’m selling everything and moving in. Squatters rights, whatever. What is it about being at the beach that just calms, soothes, and makes you feel like nothing in the world at all matters but those gorgeous blue(ish) waves and sea froth? Cinnamon Shore is a gorgeous development about five miles of Port Aranas that captured my heart. If you’ve ever been to or seen Seaside, Florida, you will see that Cinnamon Shore is almost a clone. And there is nothing wrong with cloning something that works. Seaside was a planned beachfront community that is one of the biggest success stories in the U.S.
Homeowners who owe more than $1 million on their homes are under intensified scrutiny by the IRS now. Why? Because of so much confusion over deducting the interest on those over $1 million mortgages. And you can do the math — if your mortgage is more than a million, you are likely deducting a boatload of mortgage interest so pay attention because this could mean good deduction news, something we need a whole lot more of right now. I’d say only your CPA knows for sure but that may not really be the case!
Greetings from Gruene! Second Shelters contributor Andrew Chalk was kind enough to head south to the Texas Hill Country and check out second/vacation home real estate in the beautiful New Braunfels area:
Joel Kotkin, the provocative urbanist and Forbes contributor whose latest book is The Next Hundred Million: America in 2050, is so right on the ball. Contrary to the elitists’ proclamation that all of us should ditch our autos and be crammed into an “urban core,” Joel thinks suburbia is not all that bad and is, actually, rather a pretty good place for families to live and thrive. Sure there’s a place for urban cores, but they are increasingly becoming havens for the uber rich. San Francisco, for example, has the highest percentage of individuals living on unearned incomes! (I call these folks children of the Golden or Lucky Sperm Club. Of course, many of them may have made a killing in the market and are living off the interest.) The outlying, auto-dependent areas where land and affordable housing is available is where most people settle. Also out there: jobs for the real people who keep the cogs turning. That’s what stimulates “upward mobility” among the lower and middle classes, keeps our economy humming, and ultimately funnels more Lucky Sperm Club folks to San Francisco. Joel’s latest Forbes.com column focuses on the 2010 Census and what it showed — and he was right on the money, honey. Americans are continuing to “disperse, becoming more ethnically diverse as I pointed out in NG and leaning toward to what might be called “opportunity” regions of the nation.” That is, suburbs. In Texas!
Mary Ann and Fred Davis bought a home in Naples, Florida for $200,000. 2400 square feet and 40% off what it sold for in 2005. The home is in a gated community and they plan to keep it as a second home/family retreat for years, hence no pie-in-the-sky buy and flip notions. I’ve got more friends snapping up properties in three out of four of the nation’s hardest hit markets: Florida, Phoenix, and Idaho. (Sorry, no one I know cares to buy in Las Vegas.) This home was a short sale purchase. And according to Zillow economist Stan Humphries, this may be a great time to pick up a second home as long as you keep it for many years…