Business & Real Estate

A realtor's guide to buying a vacation home

courtesy of Alex Proimos
Vacation homes made up 13 percent of all home sales nationally in 2013, according to a National Association of Realtors survey.

Across the country, spring is finally making an appearance. For many Americans, this means one thing – vacation time.

More and more people are taking their vacations in a second home, according to the National Association of Realtors’ 2014 Investment and Vacation Home Buyers Survey. The survey found vacation home sales accounted for 13 percent of all sales in 2013, up nearly 30 percent from the previous year. That represents their highest market share since 2006.


Investors happy with recent Fed moves

Not much was said after the Federal Reserve held its monthly meeting May 21, but investors were pleased. They rallied to boost the Dow Jones industrial average more than 1 percent, the Nasdaq approximately 0.9 percent and the S&P 500 an estimated 0.8 percent. This type of activity before the three-day Memorial Day holiday is very positive, particularly given that investors are still concerned about a correction.

What pleased investors is that the Fed minutes didn’t address when the Fed will begin raising rates and gave no indication of the future of its monthly asset buying. The bond-buying stimulus program will likely be phased out by the end of the year.



Los Altos

134 Lyell Street, Brown Trust to M. Crowell for $1,200,000

1108 Russell Avenue, Bremer Trust to S. Aditya for $2,250,000


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