Second Home Markets - Hot Buys

Areas like Asheville, Waynesville and Maggie Valley home prices have dropped in many of the second-home hot spots that once were out of reach for many buyers have now become more affordable,

For example, a property in Maggie Valley that sold for $1.2 million in June 2006 sold in April 2011 for $750,000. Other big slashes in home prices have made such markets more affordable, and buyers are jumping in. Asheville Real Estate is very strong in many areas but some of the Mountain Cabins that home owners use during the summer and have in a rental programs are priced to sell. Several second-home markets are already showing signs of stabilizing; in some, prices are even starting to rise, such as Asheville, NC,Santa Monica, Calif., and Aspen, Colo.

Because of the strong rental markets many are taking advantage of the low prices, put the property into a rental program and off setting all are most of their costs allowing them to enjoy a summer get-a-way.

Many investors are buying up the bank owned properties and turning them into rentals as families having to more from their distressed homes and need a place to live.

This is the best time to invest in real estate with the low prices and 40 year low