My New Blog

Have you ever seen the commercials of the couple nearing retirement dreaming of relaxing on the beach in front of their new beachfront home, holding hands, enjoying a refreshing tropical drink and the warmth of the sun, and basking in the glow of second home ownership? Well, we have more options that our parents had. Second Home ownership is only one way to secure your dream of a Destination and Vacation Getaway.

Owning a second home: has always been popular and you couldn't ask for a better time to buy. Interest rates are still low, it is a buyer's market all over the Nation, and there are still tax incentives for Second Home ownership. 

Timeshares: This is a 6+ Billion Dollar Industry each year. Members usually purchase a week or more in their favorite destination. They can exchange weeks with each other and book additional weeks if the dates are open. We timeshare in Hilton Head each year and love it. The average cost for a Timeshare week is $13,000. Some can cost up to $40,000 per week. The downside here is that you get locked into a specific week at a specific location.

Fractional Ownership: is a new addition to the Luxury Travel Industry and a close model to Timeshares. Fractionals offer partial deeded ownership to a specific piece of real estate. These are usually found in beachfront, golf, or ski resorts. High end Resort Hotels are now offering these as well. Ownership provides access to your unit or home from 4 to 13 weeks and generally divided between peak periods. You might get 3 weeks in the Summer and three in the winter. The resale of Fractionals usually follow the local real estate trends. You can expect to pay from $250,000 to $600,000 in addition to annual fees, depending on your location.

Destination Clubs: have emerged recently as a very nice option for those who want an equity position...and a wide variety of homes to vacation in. This is the fastest growing segment in the luxury travel market. The most attractive appeal is the variety in destinations and the flexibility in scheduling. My favorite is The Markers - a Golfers Destination Club. Markers members join a club similar in structure to an equity country club. Members stay in 4-5 bedroom residences situated in some of the best golf destinations in the world...Scotland, Cabo San Lucas, Scottsdale, Kiawah Island, Pinehurst, Big Island, you get the picture. Homes are valued at 1-2 Million and one time membership fees range from $150,000 to $375,000. This guarantees the member and their guests at least 52 days at the Destination of their choice, and access to over 200 Golf Clubs throughout the United States. (just show up and pay for the cart fee). The Member to Property ratio is usually 9 Members to 1 Property vs. Timeshares that offer a 50-1 ratio. The Clubs offer concierge services as well as access to high end amenities such as yacht, and jet fractional ownership, golf and spa services. There are annual fees and also a 90-100% refund if you ever choose to leave the club. Call me if you'd like additional information on this growing industry.

I'm lucky in that I have access to every different type program around. I have developed a network of trusted professionals around the country that I can turn to for options when my clients decide to buy, lease, or rent vacation homes. I am happy to help you and offer their services to you as well. If you are considering a destination or Vacation Home option...call me to discuss. Happy traveling!

Jeff Carroll

Vice President / F.C.Tucker Company      

Sellers: don't get caught up in all this Buyer's Market talk. We are well into this downturn and I can tell you that Buyer's are out in force...buying homes! If you are considering selling your home, I have some tips that will help you get more for your home in less time. 

Select a strong real estate agent. Don't experiment with a part-time friend or new agent. There are agents in your market who have weathered these "slow times" and can use their years of success and contacts to get the job done. Find the best agent you can who represents alot of buyers. That's what you need so go directly to the source. Ask each agent you interview for the list of buyers they had the previous year. Also get their marketing plan before you list your home. Most agents I go up against don't have a marketing plan to sell your home. Big flag there!

My suggestions:

1) Don't overprice your home. Your agent should be able to tell you what the sales are in your area, and price your home within a few thousand dollars of where you will sell your home. (60% of buyers will look at your home if priced correctly...if you overprice it by 10% you lose 30% of those buyers).

2) Improve the condition of your home for a good first impression. Touch up painting, carpet cleaning, de-clutter starting from your entry, and updating your home will bring you thousands of dollars. If you have major problems with the home...get them fixed prior to an offer. You can't control the cost of the repair when a buyer get's involved.  

3) Stay connected with your agent. Don't let them forget about your home. Be sure they are following their marketing plan and doing everything they can to sell your home. I sell over 80% of the listings I represent. The average in my town is slightly over 43%. Not all agents are created equal! 

4) I always tell my sellers that ,"I might not be the agent who sells your home...but I'll be the reason it sells".  When you hire a listing agent it is their job to get all the agents & prospective buyers information on your home and solicit offers for you. Get the best and you won't be sorry. 

5) Know the market. Stay in tune with all the homes in competition with you and what is selling. If homes are selling around you and you can't get a showing...it is time to reconsider your price and condition of your home.

Your home will sell if it is priced correctly for your area and in good condition. Review your listing with your agent weekly and make adjustments based on their feedback. Good luck and happy selling.

Jeff   

Sorry for using the "Price Is Right" comparison, but it really fits here. The price is really right and more importantly so are the mortgage rates for buyers. If you are buying your first home things couldn't be better for you. Rates are at all time lows and Buyer assistance programs are still around. We just represented a young couple who were buying their first home. They paid $130,000 for this home and actually received $750.00 back at closing. We successfully negotiated the Seller paying 3% of their down payment through a Buyer Assistance Program, and some of the closing costs. They also got $6,000.00 off the price of the home. This is about a Ten Thousand Dollar windfall for the Buyer. What a deal!

Is the real estate market in good shape? For 50% of the market, (BUYERS) it is the best market they've seen for over 30 years. There is a great selection of homes out there and the prices are amazing in some cases.  Buyers will find the home they want, get exceptional mortgage terms, and probably buy at market or below market pricing right now.

Keep good professionals around you throughout the buying process.  Be sure to utilize strong local lenders and the most successful Real Estate Agent you can find. This is no time to use part time or beginners in the industry. Even in today's Buyer Market if it seems too good to be true...it usually is. Use your common sense but use a good professional to guide you through this once in a lifetime Buyer Market. Go Buy A Home Today. 

If you are thinking about buying or selling a home, land, destination home, or investment property...I hope you will consider Jeff Carroll & Associates. Just Ask Jeff...for all your real estate needs!