It’s a new year and an exciting time to think about a fresh start and all that 2013 holds. For many, this start of a new year means thinking about buying a vacation home on Lake Nacimiento! Perhaps you’ve been considering this option for a few years, but have been leery of jumping into the housing market. The great news is; the market is continuing its’ recovery and 2013 will be a great time to buy!
Recently, MoneyCNN reported on the S&P/Chase-Shiller index noting that home prices posted the largest percentage gain in more than two years, with prices up 4.3% in October compared to last year. These trends are expected to continue with other factors playing into the housing market boost. Things such as a five year low in foreclosures, lower unemployment and the still low mortgage rates will result in more active buyers. This, in turn, will drive up home prices.
Lawrence Yun, the National Association of Realtors chief economist commented on the recovering market for 2013 by adding that “sellers will smile more, and buyers will need a more concentrated focus.” Buyers will find greater competition and will need to act quickly when they find a home they like.
As a Lake Nacimientio Real Estate agent, my goal is to provide you with the latest Lake Nacimiento Real Estate market information and the best advice to help you navigate your real estate goals. If you are considering buying a vacation home this year, here are a few key things to keep in mind!
1. Don’t Rush– While it would be good to get a jump start on the busier spring market and begin your home search now; buying a vacation home is a large decision. Rushing through the vacation home buying process could have you doubting your decision down the road. It can be easy to make a quick decision, especially if you’re just visiting Lake Nacimiento for the weekend.
Take the time to discover the pros and cons of each Lake Nacimiento community, whether you’re looking at Oak Shores or Heritage Ranch. The great thing about a vacation property is that you can have the luxury to really think through your purchase.
2. Keep the Market in Mind– Home prices across the nation are some of the lowest that we’ve seen in a long time, so you’re bound to find a great deal. Consequently, we are dealing in a buyer’s market so competition can be more fierce and home prices will only continue to rise throughout the year. While you don’t want to rush your decision; it’s important to understand that a great Lake Nacimiento home can be a favorite for many potential buyers, so you don’t want to wait too long before deciding on a home.
3. Think Through Pertinent Questions: It’s important to ask yourself the important questions when buying a vacation home. Ask yourself:
. How often will you visit and how much time will you spend there?
. Is it worth the money?
. What will the price appreciation be, realistically?
. How much will you have to pay every year for landscaping, association dues, garbage collection and taxes?
These questions can help determine which Lake Nacimiento home is right for you!
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty
Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.
Please let us know how we can help!