Thanks to low interest rates and good prices, these couples took the plunge and bought the vacation homes they’d always wanted.
By Kathleen Bridges http://www.washingtonian.com
Published Friday, February 17, 2012
….Although prices in many popular resort areas are still falling, agents and lenders say the market is showing signs of recovery. In Virginia’s Rappahannock County, the number of homes sold climbed by almost 15 percent from 2010 to 2011. Homes in some areas are also selling faster—in Maryland’s Garrett County, they sat on the market an average of 208 days this past November, a drop of 26 percent from the same month in 2010.
Bill McGuire, a lender for First Home Mortgage in Easton, says that historically low interest rates and low prices have finally begun to lure buyers: “A lot of our clients had been looking casually for several years but were too afraid to jump in. They’re realizing that now may be the time to buy.”
More here.
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