The Real Estate Market in Santa Monica is very active and now it truly one of the “BEST” times to invest in purchasing or buying a second home or investment property in Santa Monica.
Currently interest rates are at record lows and if you are going to be paying cash for your second home purchase, you can negotiate very heavily and turn an amazing deal!!
CBS News and Moneywatch have dubbed Santa Monica as One of the Best Places to Invest when purchasing a second home or investment property!!
Search Santa Monica Real Estate Listings-One of the Best Resources Available to Buyers is this Santa Monica Real Estate website:
Here is a recent article published from CBS News naming the 3 main reasons want to buy second homes, vacation properties, or investment properties:
- Family vacation destination. The vast majority of vacation home buyers are looking for a place they can use to help create family memories. Renting out the property may not even be a part of the equation.
- Future retirement home. Some vacation home buyers choose a location that suits their goals for retirement. These buyers might want to cover some of the mortgage and expenses by renting out the property part-time, but enjoy it themselves during the rest of the year.
- Vacation property investment. Some investors believe vacation locations are a good choice for a real estate investment and they look to rent out the property enough to not only cover all of the expenses, but generate a profit. They may also be looking at price appreciation.
The best vacation home locations will be easy to get to, have high year-round demand from travelers, and be relatively affordable. If you’re looking for a vacation home location, these five are among the best in the U.S. based on the following criteria:
- Rentability. How many weeks will a prime property be rented during the course of a year? And, how easy is it to attract renters?
- Year-round rental. Is the location a place that draws visitors year-round? An example would be Aspen, Colorado, which offers plenty to do in the Winter and Summer (plus great celeb-sighting potential).
- Supply/demand is in balance. You don’t want to have an oversupply of vacation rental properties or the price/week will drop substantially.
- Homes are affordable based on future rental income. Are prices at a point where you can defray the expenses with expected rental income?
Well, Santa Monica tops the charts in all of these categories and with the amazing weather, beach live style, outstanding shopping and restaurants, it is no wonder real estate values always are very high in this area.
Best Vacation Home Location: Santa Monica, California
Spending time in Santa Monica is always a joy. The weather is perfect nearly year-round. It’s close to the beach, the Santa Monica Pier, great restaurants and shopping, and the city offers a fantastic farmer’s market on Wednesdays, Saturdays and Sundays.Turns out, Santa Monica is also a terrific vacation home location, with traveler demand up 104 percent in the first quarter of 2010 and few vacation homes for rent. This Artist Retreat, offers 2 bedrooms, and 2 baths in about 1,100 square feet. It’s located six blocks from the ocean, just behind Main Street, and has a huge private yard and lovely redwood deck. Amenities include high-speed Internet.
If you are looking to buy, rent, or sell Real Estate Right Now-It truly is a great time to invest in Santa Monica Real Estate. You can find great deals in Santa Monica, it just takes using a local professional real estate expert to achieve this.
Call Me Today for All Your Santa Monica Real Estate Needs!
Heather Paul, Realtor (310)586-0364 or (424)625-1037
“Your Local Santa Monica Luxury Real Estate Expert”