Being a real estate professional is never really easy. It's not really that difficult either, truth be told, but the last few years have been quite a roller coaster ride.
None of this is evidenced more clearly than by how new home builders treat Realtors. Talk about feast or famine! Back in 2005/2006 they were so confident of their ability to attract buyers that they practically dared Realtors to show their homes. "Must be present at initial showing to be eligible for commission, Blah, Blah, Blah..." "Do not pass machine gun towers without obtaining special permit from obergruppenfuhrer..." Well you get the message.
Suddenly, it's a brand new day and my inbox is flooded with all kinds of generous offers. All I have to do is swing by, take a look at the new complex (now with highly competitive pricing)and I get a voucher good for dinner and a movie.
Or- Are gas prices forcing you to park your fuel-guzzling land yacht in despair? Never fear. Zoom by our new and improved mega-sub-division and we'll give you a $25 gas card. Just for showing up!
My how times have changed. As I get older, I realize that some of my faculties are not what they used to be. Luckily, my memory isn't one of them. So,you'll excuse me if I don't immediately add these guys to my Christmas card list.
I was even offered an I-Pad, whatever that might be. I suppose if I ever get my I-Period, I'll find out.
Sunday, May 22, 2011
Saturday, May 07, 2011
Retirement and Vacation Homes: Are They Worth The Trouble, or Expense?
Recently, I got sucked in by a T.V. show called "House Hunters International" on HGTV. The concept is fairly self-explanatory and involves a family who decide to buy an additional home (although some are actually re-locating) in a country other than their own. So, we are treated to Europeans of every stripe checking out properties all over that great continent, as well as Americans making the trek overseas.
I must admit that I have never been a great fan of buying a second home and have often advised friends, neighbors and clients against it. I have good friends who travel to Cape Cod from Arizona each summer for three months. They have toyed with buying an apartment back there, but I have generally discouraged it. In my mind, it is very difficult to deal with the maintenance and upkeep when you are 3000 miles away. Quite how these people cope when the 2nd home is in another country (sometimes involving a different language) is hard to fathom.
My initial thought is why would you want to go on vacation every year for the rest of your life in the same spot? In the same house, even? I could almost justify it, almost, if your intention was to ultimately retire in that location. However, I still feel that a seasonal rental is the better way to go. That way you can visit a different resort, country, locale or region each year and just walk away from the property after each trip. I fully recommend a website that has holiday homes for rent by owner around the world, including entire islands. It is www.vacationrental.com.
Still and all, it is a fascination T.V. show to watch, especially as it showcases cultural differences between countries as related to buying and renovating homes. However, one American in Paris stopped me in my tracks the other evening. I about dropped my gin and tonic. She was looking for an apartment in the heart of Paris (they call it a Pied a Terne, which I think is French for potato) and found her ideal home priced at $250,000. Except for one thing. It was 85 sq ft! You read that right. Eight and a half feet by ten feet. Slightly less than a quarter of and average two-car American garage. Do you really want to live in Paris that badly? Or , if it is to be a vacation home, do you take your $250,000 and rent a place for $5000 for one week for the next 50 years?
As they say, you pays yer money and you takes yer choice...
I must admit that I have never been a great fan of buying a second home and have often advised friends, neighbors and clients against it. I have good friends who travel to Cape Cod from Arizona each summer for three months. They have toyed with buying an apartment back there, but I have generally discouraged it. In my mind, it is very difficult to deal with the maintenance and upkeep when you are 3000 miles away. Quite how these people cope when the 2nd home is in another country (sometimes involving a different language) is hard to fathom.
My initial thought is why would you want to go on vacation every year for the rest of your life in the same spot? In the same house, even? I could almost justify it, almost, if your intention was to ultimately retire in that location. However, I still feel that a seasonal rental is the better way to go. That way you can visit a different resort, country, locale or region each year and just walk away from the property after each trip. I fully recommend a website that has holiday homes for rent by owner around the world, including entire islands. It is www.vacationrental.com.
Still and all, it is a fascination T.V. show to watch, especially as it showcases cultural differences between countries as related to buying and renovating homes. However, one American in Paris stopped me in my tracks the other evening. I about dropped my gin and tonic. She was looking for an apartment in the heart of Paris (they call it a Pied a Terne, which I think is French for potato) and found her ideal home priced at $250,000. Except for one thing. It was 85 sq ft! You read that right. Eight and a half feet by ten feet. Slightly less than a quarter of and average two-car American garage. Do you really want to live in Paris that badly? Or , if it is to be a vacation home, do you take your $250,000 and rent a place for $5000 for one week for the next 50 years?
As they say, you pays yer money and you takes yer choice...
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