Best back-to-school real estate investment cities

To help real estate investors considering university towns, Move.com recently released a list of ten college towns that can yield an A-plus investment Parents can use the data too, to save on the cost of college housing.

by Broderick Perkins
© 2011 DeadlineNews.Com

Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - The cost of education comes with the cost of student housing, but savvy investors can make a real killing on investment properties in the right college towns these days.

"Housing demand in college towns is generally high and vacancy rates are usually low. Combine the supply and demand ratio with rising admissions and the five percent rise in rental rates expected by the end of the year, and rental property in college towns can be a smart option for the right investor," said Move, Inc. Chief Executive Officer, Steve Berkowitz.

To help real estate investors considering university towns, Move.com recently released a list of ten college towns that can yield an A-plus investment.

Parents can use the data too, especially if they are thinking of the cost of housing for a child for the next four to six years.

The right property, say a duplex or triplex, even a larger single-family home (SFH) property, could come with housing for the student and enough rental income from the other units or roommates to help pay for the acquisition.

Move selected college towns based on the leading universities featured in the U.S. News & World Report College Compass Best Colleges 2011. Move.com also considered the cost of a monthly mortgage payment (30-year, fixed-rate mortgage, 20 percent down) based on an areas' June median price for homes vs. the average cost of rent for both a two-bedroom and a three-bedroom rental unit for the same period.

Here's a sample of what Move.com found:

Boston, MA - With a median list price of $335,000 in June 2011, the Boston/Cambridge market yielded a $1,370 mortgage payment compared to rents ranging from $3,122 to $3,913 a month. Demand comes from 50 colleges including Harvard and MIT.

Nashville, TN - Nashville is home to country music and Vanderbilt University. Rents range from $949 to $1,020, but the mortgage payment is only about $770.

Chicago, IL - Home of the University of Chicago and the most searched metropolitan area in the nation on Realtor.com, Chicago has a median price that yields an $820 mortgage payment, compared to rents that range from $1,780 to $2,074.

Washington, D.C. - Given employment is booming, thanks to big government, a Georgetown University student could get a job and help pay the $1,530 mortgage payment, which is half the area rents, ranging from $3,086 and $3,214.

Houston, TX - Headquarters for Rice University, Houston offers homes that come with a $710 mortgage payment. Average rents range from $1,218 to. $1,478.

Other top markets on the Move.com list of top college towns for investors (or students' parents looking for a housing bargain) were, South Bend, ID; Atlanta, GA; Baltimore, MD; St. Louis, MO and Syracuse, NY.

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Under the DeadlineNews Group umbrella:

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Real Estate Examiner
• National Consumer News Examiner
• National Offbeat News Examiner

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Investors muscling in on first-time homebuyers' turf

Start your shopping-around engines
Prices rising on used gas-sippers

Move.com found 65.5 percent of investors surveyed said they expect first-time homebuyers' problems to work in their favor -- 18.5 percent say they'll be cash-only buyers, and 80.5 percent expect to wrest cash discounts from sellers.

by Broderick Perkins
© 2010 DeadlineNews.Com

Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - Investors have the moxie, the moola, and the mindset to muscle in on first time homebuyers and they make no bones about their plans to do so, making a killing in the process.

A new Move.com Investor Survey released today, says by three-to-one, investors will be more active in local markets compared to typical homebuyers in the next two years.

The national survey says investors are bullish about vigorously competing with traditional first-time homebuyers because they know the time is right and they know they've got the edge.

(Also see: "Foreign buyers cashing in on U.S. housing closeout sale")

Move found 65.5 percent of investors surveyed said they expect first-time homebuyer problems to work in their favor -- 18.5 percent say they'll be cash-only buyers, and 80.5 percent expect to wrest cash discounts from sellers.

As revealed in another study, these investors are more like saints than sinners and are coming to market to stick around, rather than flip out.

Picking up the slack left by first-time and rank-and-file buyers, investor action, building now for years, should benefit the sluggish housing market by shrinking the over-supply of distressed and other homes that has pushed prices down to levels not seen in more than a decade.

New investors wear halos

Move says, contrary to the speculative flippers of an era gone by, 50 percent of today's real estate investors plan to hold onto properties for five years or more. Only 11 percent expect to sell within 12 months of purchase. Two-thirds (67.5 percent) say they're investing for the long term.

Fifty-nine percent told Move they're new to the investing game, with 33.5 percent considering their first investment purchase and 8.5 percent in the process of buying and selling their first investment property.

Another 17 percent said they just completed their first transaction and plan to make more. Only 36.5 percent have experience in more than one property transaction.

Newbies, maybe, but they appear to know bottom when they see it.

A recent Pew study found that 81 percent of adults agree that buying a home is the best long-term investment a person can make.

None of this is lost on foreign investors, as the U.S. remained a top destination for foreign buyers for the year ending in March 2011, according to the National Association of Realtors (NAR).

NAR's 2011 Profile of International Home Buying Activity said total residential international sales in the U.S. for the past year ending March 2011 equaled $82 billion, up from $66 billion in 2010.

Total international sales were split evenly between non-resident foreigners and recent immigrants, while combined total domestic and international existing-home sales in the U.S. were $1.07 trillion.

"This data suggests today's climate is hot for investing and is attracting a lot of new people that don't fit the stereotypical deal-driven flippers that buy and sell properties quickly," said Move, Inc. CEO, Steve Berkowitz.

"They're mostly entrepreneurial individuals that will make vital contributions to local communities by investing their own money and sweat equity to improve and maintain properties. These personal sacrifices made over the long run will help improve housing stocks, home values, property tax bases, and thousands of local communities," Berkowitz said.

Investors expect decent returns

Forty-eight percent expect a profit of 20 percent or more from their property investments, a 4 percent annual rate of return over five years -- a rate of return that hasn't been seen for years. Another 40 percent expect a profit of 10 percent, and only 6.5 percent expecting a five percent or less return on investment.

While investors appear poised to outnumber traditional homebuyers, 27 percent will buy a primary residence/investment as a first-time buyer. Forty-nine percent expect to live in their investment property until it's sold or turned into a rental property.

More than half (56.5 percent) will put their investments to work right away as rental properties, and 28 percent plan to purchase vacation property that they'll eventually sell.

"The number of renter households has swelled significantly during the recession as homeowners facing job loss and foreclosure have been pushed into the rental market.  The demand for rental units is forecast to rise by 12 percent by the end of the decade, making low- to moderately-priced rental units appear to be a good investment on both a valuation and a cash flow basis," said Nancy Osborne, chief operating officer of Erate.com, a Santa Clara, CA-based financial information publisher and interest rate tracker.

The Move Investor survey also found 30 percent of real estate investors are interested in buying retirement property as an investment.

"While today's market is tough for some, it's also motivating millions to take an unconventional approach and creatively search for new ways of entering the housing market," Berkowitz said.

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© 2010 DeadlineNews.Com

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You are reading a sample of "News that really hits home!" now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Under the DeadlineNews Group umbrella:

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Real Estate Examiner
• National Consumer News Examiner
• National Offbeat News Examiner

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How Much Vacation Home Will $150K Buy?

The same market conditions that are making affordable homes household words are also creating bargains in the vacation home segment and, right now, the discounts can come with an added deal sweetener — timing.

by Broderick Perkins
© 2010 DeadlineNews.Com

Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - The same market conditions that are making affordable homes household words are also creating bargains in the vacation home segment and, right now, the discounts can come with an added deal sweetener — timing.

This year, more travelers are forecast to use vacation rental accommodations, giving vacation home owners a greater potential for a rental income bonus that could help offset the cost of the property.

“The median price is so low, it’s like getting in a time machine and going back 10 to 15 years. And with the ease of being able to rent it, well, it’s just a no-brainer,” to consider buying a vacation home as a rental property, said Christine Karpinski, vacation rental guru and author of “How To Rent Vacation Properties By Owner” ($26, Kinney Pollack Press).

Read the full story: How Much Vacation Home Will $150K Buy?

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© 2010 DeadlineNews.Com

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Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!" now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Under the DeadlineNews Group umbrella:

Perkins is managing editor of HomeAway.com's Gulf Coast Response Center.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Real Estate Examiner
• National Consumer News Examiner
• National Offbeat News Examiner

Other DeadlineNews Group Feeds are available from DeadlineNews.Com.

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Do you have a 'Vacation Rental Home Personality?'

Oil, water mix for a good cause

A convergence of market factors add up to a good time to buy a vacation rental property, but you also have to have what it takes to run with the vacation rental owner crowd.

by Broderick Perkins
© 2010 DeadlineNews.Com

Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - It's only a good time to buy a vacation rental if you are really cut out for the job.

Property prices as low as they've been in a decade, record low interest rates, an ample inventory and a growing base of travelers who want bargain getaway accommodations with all the comforts of home, all add up to vacation rental market ripe for the picking, says vacation rental guru Christine Karpinski, director of Owner Community for HomeAway.com, the global leader in vacation rentals, hosting some 540,000 vacation rental listings.

That's provided you have what it takes to run with the vacation rental owner crowd.

You'll need the right stuff to live the lifestyle that comes with owning and managing a vacation rental home, says Karpinski, a vacation rental owner herself and author of "How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment" (Kinney Pollack Press, $26.00).

Answer most of these questions with a 'Yes' and you are a good to go for it. Answer 'No' to most of them and it's probably time to rethink a vacation rental home acquisition.

Q: Am I patient?

Vacation rental ownership is not a "get-rich-quick" opportunity. Profitable vacation rental owners are patient. They focus on the long-term potential for profiting from their properties.

Q: Do I have five extra hours a week to spare?

That's about how long it takes to manage a property during peak season. The job includes answering inquiries, taking reservations, managing staff, keeping records and more.

"If every hour of your life is already accounted for, renting out your vacation property may not be right for you," Karpinski says.

Q: Am I willing to do business on a week-by-week basis (rather than year-by-year)?

Managing a vacation rental typically is not the same as working as a full-time landlord. Tenants come for a few days to a week, and go. Every week presents a new opportunity to be successful and to impress new guests and make them repeat customers.

Q: Am I detail-oriented?

You must be. Guests expect a certain level of quality. Regularly visit your property to make sure your on-site staff is keeping it in the shape you desire.

Q: Can I follow a marketing plan?

You don't have to be a professional marketer, thanks to the Internet, but you do have to follow simple instructions. Like other vacation rental portals, HomeAway.com offers a turnkey method online to present your home to potential renters. In a addition to offering the tools and features to market your home, its OwnerCommunity.com provides a host of information articles, expert advice and step-by-step instructions to keep your property rented.

Q: Am I responsive?

Be ready to grab opportunities. Potential renters typically inquire about more than one property. If you want to close the deal, put on your entrepreneur hat and be the first to act, returning calls, responding to emails, etc.

"That may mean taking calls at dinner and checking your email regularly - even when you're on vacation."

Q: Am I personable?

One of your jobs will be to make people comfortable when they rent your home. Make your vacation rental a real "home away from home."

Q: Am I a good people manager?

If you're a long-distance vacation rental owner, you must be prepared to hire and manage a productive "staff" -- housekeepers, lawn care people, plumbers, and others. Your staff should understand what you want to achieve with each guest. That will both ease your anxiety and make your renting experience enjoyable. In most vacation rental markets, these networks are well established. Just plug in.

Q: Am I okay with managing from a distance?

For many owners, vacation properties
are hours and many miles away from their primary residence. With the right on-site staff in place, it is easy to manage your vacation property from a distance.

"Being a long-distance owner will make the vacation rental business a lot more enjoyable for you because you won't be micromanaging every little detail at your property," Karpinski notes.

"That's a habit that is easy to slip into if you live close by," she says.

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© 2010 DeadlineNews.Com

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Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!" now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Under the DeadlineNews Group umbrella:

Perkins is managing editor of HomeAway.com's Gulf Coast Response Center.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Real Estate Examiner
• National Consumer News Examiner
• National Offbeat News Examiner

Other DeadlineNews Group Feeds are available from DeadlineNews.Com.

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It's a good time to buy a vacation home

Moves that woo women

Vacation rental space is the place more and more travelers opt for when they want a bargain vacation that comes with accommodations that provide all the comforts of home.

by Broderick Perkins
© 2010 DeadlineNews.Com

Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - Right now, the languishing housing market offers some lingering upsides for those who have some investment dollars to burn.

Home prices are low, financing is cheap and inventories are bulging.

It's a good time to consider purchasing that vacation rental.

The road's been rocky for real estate in recent years, but that means it's a buyer's market and good time to grab a piece of the American Dream as a solid, long-term investment.

"Vacation homes are almost always a good investment," says vacation rental guru Christine Karpinski, director of Owner Community for HomeAway.com, the global leader in vacation rentals, hosting some 540,000 vacation rental listings.

"First, if you're looking for a good long-term investment, real estate tends to be a good bet. Second, vacation properties have the ability to pay for themselves, and owners often earn a profit in rental income. Third, the investment comes with the desirable perk of having a place at the beach or in the mountains to call your own," says Karpinski, a vacation rental owner herself and author of "How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment" (Kinney Pollack Press, $26.00).

Karpinski says it's as if the planets have aligned over vacation rental acquisitions.

Vacation rental space is the place more and more travelers opt for when they want a bargain vacation that comes with accommodations that provide all the comforts of home.

According to Karpinski, here's why you want to move on that vacation rental now.

Prices are as low as they are going to go.

Property prices are as low as they've been in ten years. Procrastination won't keep them low. Analysts say the housing market is scraping bottom and poised to move up.
"I don't take the plunge now, I'll look back ten years from now and say, 'Why the heck didn't I buy back in 2010?'" says Karpinski

Interest rates are likewise as low as they are likely to go.

Erate.com had the interest rate for 30-year, conforming fixed rate mortgages at 4.23 percent on Oct. 25 and says rates on non-owner occupied properties is about a half a percentage point higher -- with a virtually mandated 20 to 30 percent down.

Markets are flush with inventory.

The slow economy and even slower housing market has left vacation markets brimming with buying opportunities from sellers looking to bail to foreclosures that warrant careful scrutiny.

"One caveat: Before you let yourself fall in love with a property, make sure it is legal to rent it out as a vacation home. Some areas and homeowners' associations do not allow short-term rentals," Karpinski warns.

Good help is easy to find.

The recession weeded out incompetent, fly-by-night real estate people who jumped on the booming market bandwagon. Those who survived have been around the block a few times and know the game.

Say Karpinski, "Real estate professionals still working today are the top in the business," says Karpinski.

Renting a vacation property is easier than ever.

Vacation rentals are more popular than ever, thanks to their home-away-from-home allure but also because the Internet has made them eminently more visible.

"More and more consumers are choosing to stay in cozy condos, cabins, and chalets instead of cramped, impersonal hotel rooms when they travel. And as market demand has surged, organizations like HomeAway.com have sprung up to help connect vacation homeowners with these potential renters," Karpinski said.

The online vacation rental portals help owners market homes by posting photos, descriptions, testimonials and other marketing information to attract vacationers.

HomeAway.com also offers vacation rental owner support. It's Owner Community offers property owners information about proven best practices from experts, articles on everything from setting up your business to upgrading amenities on a budget to handling complaints.

After the Gulf oil disaster, HomeAway.com set up HomeAway Gulf Coast Response Center to fill a void left by major media and to help Gulf area vacation property owners through the lost income claims process, to provide insight from experts and to offer a forum for sharing concerns, stories and frustrations.

"Ten years ago vacation rental owners were on an island, but now it's easy to get the support you need," said Karpinski.

Buy now, beat the 2011 peak season rush.

The longer you wait to buy, the more likely mortgage rates and prices will rise and the good properties will be snatched up.

Also, buy now and you've got plenty of time to prepare yourself and your property for the peak rental season. Seasoned vacation property owners' rental fees generated during the twelve weeks between Memorial Day and Labor Day pay their mortgages for an entire year. Most inquiries come in between January and March.

"By buying now, you will have a cushion of time to get the home ready for your guests, take great photos for your property listing, and start marketing it to potential renters," said Karpinski.

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© 2010 DeadlineNews.Com

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Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!" now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Under the DeadlineNews Group umbrella:

Perkins is managing editor of HomeAway.com's Gulf Coast Response Center.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Real Estate Examiner
• National Consumer News Examiner
• National Offbeat News Examiner

Other DeadlineNews Group Feeds are available from DeadlineNews.Com.

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'Day-at-the-beach' sell tougher for vacation rental owners in Gulf Coast

HomeAway Gulf Coast Response Center

The Gulf Coast's economically pivotal vacation rental playground faces a value crunch that could cost individual properties as much as $80,000 in lost value, according to the most exhaustive study to date of the Gulf oil disaster's impact on residential real estate values, reported by the new HomeAway Gulf Coast Response Center.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - The Gulf Coast's economically pivotal vacation rental playground faces a value crunch that could cost individual properties as much as $80,000 in lost value, according to the most exhaustive study to date of the Gulf oil disaster's impact on residential real estate values, reported by the HomeAway Gulf Coast Response Center

Core Logic, in a report that denotes value as real property value combined with the value associated with the amenities of beach front access, says the cost of the oil disaster to home values along the Gulf's coastal counties is expected to range from $648 million in one year, to as much as $3 billion over the span of a half decade.

The study adds beach front proximity to the value equation because buyers who acquire coastal properties pay premiums for the amenities that come with a property that provides easy access to the proverbial "day-at-the-beach."

Among the study's 600,000 properties identified as being within 1,000 meters (about a half mile) of the Gulf coast line, are an estimated 150,000 vacation rental properties representing a uniquely pivotal sector of the area's economy, according to HomeAway.com.

HomeAway.com, the nation's largest vacation rental portal of a half million privately owned listings for travelers and property owners alike recently created the HomeAway Gulf Coast Response Center to address the concerns of vacation rental owners often overlooked by mainstream media.

Largely under reported is the fact that the Gulf Coast includes a large swath of Florida panhandle vacation rental properties -- not resorts, hotels and motels -- that provide the bulk of the area's travel accommodations with direct, easy access to beaches.

Florida, among the most over speculated housing boom markets, has had one of the nation's worst housing busts and, among all states during the first half of 2010, had the third highest foreclosure rate, with some panhandle counties suffering the worst foreclosure rates in the state, according to RealtyTrac.com.

"While it is by no means a certainty that the major coastal communities along both coasts of Florida will be impacted at all by the oil spill, the lost amenity value in these markets could be particularly high," said Mark Fleming, chief economist with Core Logic.

The report examined the impact of the oil disaster on the more than 600,000 properties identified as being within 1,000 meters of the coastline in 15 counties, representing major beach travel communities stretching from the Gulf coast of Alabama to the Atlantic peninsula coast of Florida.

The report found:

• The highest risk coastal communities along the Mississippi, Alabama, and Florida panhandle include more than 71,000 residential homes at risk of losing an estimated average loss in beach amenities valued between $40,000 and $56,000. The total estimated loss of beach amenities is valued at $3 billion.

• Of the immediately impacted communities, the largest overall loss in amenity value would be in Pensacola ($1.6 billion), followed by Gulfport ($1.2 billion).

• In terms of average loss in amenity value per home, Gulfport ($56,000) is the largest, followed by Mobile ($45,000) and Pensacola ($40,000).

• If the Gulf currents take the oil to the communities along the Florida gulf coast the loss in amenity value will rise substantially. The four coastal communities along the coast (Panama City, Tampa Bay, Cape Coral, Naples) could experience a total loss in amenity value of $11 billion impacting 238,000 homes.

• Even though the chances are low, Core Logic estimated the loss in amenity value for communities along the Atlantic coast of Florida as well. This includes Miami, Key West, Palm Bay, Daytona Beach, and Jacksonville. More than 295,000 properties within 1,000 meters of the beach could be affected with a total loss in amenity value of $13.5 billion.

"Our hope is that the oil spill is contained and the loss in amenity value is further moderated by a speedy cleanup and a return of beach amenities to the affected communities' homeowners," said Fleming.


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You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

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American Dream attracting more foreigners

NYT reporter interviews robot

A new study found that 18 percent of all Realtors were estimated to have completed at least one international sale, compared to 12 percent last year. Fifty-five percent of those sales were cash-only deals.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - They comprise only a small share of homebuyers in the U.S., but more and more foreign buyers are coming to America for the homeownership piece of the dream.

More than a quarter of Realtors, 28 percent, reported working with at least one international client in the past year, up from 23 percent during the previous Profile of International Home Buying Activity.

The recently released 2010 study, which queried Realtors for a year ending in March 2010, found that 18 percent of all Realtors were estimated to have completed at least one international sale, compared to 12 percent last year.

Foreigners invested $41 billion in homes in the U.S. during the period, 4 percent of the total $907 billion market. Adding recent immigrants, or temporary visa holders, pushed the total to $66 billion, or 7 percent of the market according to the report.

A stronger dollar, desirable U.S. property and the slow, but emerging economic recovery are seen as factors in the growing demand for an American home.

Low mortgage rates haven't hurt.

"While all real estate in the U.S. is local, the same is not true for property owners," quipped NAR President Vicki Cox Golder, owner of Vicki L. Cox Real Estate in Tucson, AZ.

"The U.S. continues to be a top destination for international buyers from all over the world. Foreign buyers understand the value of owning a home in this country," she added.

But not all U.S. real estate markets are created equal in the eyes of foreign buyers.

The survey found foreigners buying property in 39 states, but a bit more than half were in just four states: Arizona, California, Florida and Texas. Except for Texas, they are all states that were hotbed boomtowns during the last big boom.

By larger regions, foreign buyers favored the South (45 percent), over the West (32 percent), the Midwest (13 percent) and the Northeast (10 percent).

The buyers came from 53 countries, but the largest number was from just across the borders, Canada, at 23 percent and Mexico at 10 percent. The United Kingdom added 9 percent; China (including Hong Kong), 8 percent; Germany together with France, 7 percent; and India, 5 percent, according to the NAR survey.

More than one in three foreign buyers weren't closers. Thirty four percent had financing problems, often because tight fisted lenders weren't willing to lend to those without Social Security numbers.

But money talks. Among those who did close, 55 percent paid cash, compared to only 8 percent of U.S. buyers coming to the table with a full stake.

Other findings:

• The median price paid by international buyers was in the neighborhood of $219,400 during the 2009 to 2010 period. By contrast, the overall median price for all existing home sales was $173,000 during the same period. However, nearly half the foreign buyers, 46 percent, paid $200,000 or less during the period.

• Most foreign buyers, 66 percent, purchased a detached single-family home, compared to 23 percent buying a condo, 8 percent a townhouse and 3 percent commercial property.

• Fifty percent said they bought the property to live in as their primary residence, 22 percent as a vacation home; 14 percent as an investment and 14 percent as both an investment and vacation home.

• Suburban areas were most popular, chosen 50 percent of the time over urban areas (27 percent), resort areas (14 percent), and rural or small town areas (9 percent).

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

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More bad news for Gulf area home values

Zero interest credit card meltdown

Homes along the immediate path of the Gulf Coast oil leak are forecast to decline at least 30 percent in value as a result of the environmental catastrophe, according to Housing Predictor.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - Much of the nation is poised to recover from the worst housing downturn since the Great Depression, but the Gulf of Mexico area's housing markets could be in for yet another home value depreciation disaster.

The April 20 explosion and fire that ruptured an oil well, killed 11 workers, sank the BP-operated Deepwater Horizon drilling rig and became the nation's greatest environmental disaster, could also take down home prices in the Gulf by as much as 30 percent -- another 30 percent.

• Also see: HomeAway.com issues marching orders for Gulf area vacation property owners

Since 2005 housing markets in the Gulf have been slammed by horrific hurricanes and a perfect economic storm, all of which have sucked away at home values like a Hoover.

Moody’s Economy.com says area home values have declined 34 percent since the peak of the residential real estate market in 2006.

And now, commercial real estate information company CoStar says the economic fallout could clip another 10 percent off home values for the next several years costing $4.3 billion in lost property values overall, along a 600-mile coastal stretch from the Louisiana Bayous to Clearwater, FL on the west side of the state's peninsula.

Real estate broker, analyst and information transparency advocate, fired in March from his job as president of New Orleans' largest real estate firm, outspoken Arthur Sterbcow told Bloomberg last week, home values in the area will fall 5 percent to 15 percent in the next 12 months.

With the hurricane season looming and growing reports about cash buyers and others in the area backing out on property purchase deals, another, more recent forecast is even gloomier.

"Homes along the immediate path of the Gulf Coast oil leak are forecast to decline at least 30 percent in value as a result of the environmental catastrophe," according to housing market forecaster Housing Predictor.

The forecast covers only the immediate waterfront properties in Louisiana and Mississippi where homes and condos have suffered home value depreciation as great as 65 percent since the peak of the market, according to Housing Predictor.

Florida, over speculated during the housing boom, has had one of the nation's worst housing busts. One in every 174 Florida properties received a foreclosure notice in May, the nation’s third highest foreclosure rate -- higher even then California, according to RealtyTrac

"Real estate values would also be seriously impacted in Florida and Alabama if the oil reaches the beaches and has a strong likelihood of crippling local economies, sending more homes and other properties into foreclosure," the Housing Predictor reported.

That could include beachfront properties in Florida's Northwest tourism region where the beaches and travel accommodations are often assets of individual vacation rental property owners, rather than hotels and resorts.

The draw of the beaches and vacation home facilities are a major asset for the region's tourism economy.

• Click on the keywords below for more stories on this subject.

© 2010 DeadlineNews.Com

Advertise on DeadlineNews.Com | Shop DeadlineNews.Com

Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

DeadlineNews.Com's Editorial Content Is Intellectual Property • Unauthorized Use Is A Federal Crime

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HomeAway helps Gulf area vacation property owners brace for oil spill fallout

Aromatic sign of the times

The vast majority of tourist areas in the Gulf have not been impacted by the disaster -- beyond fledgling fears from travelers that the pristine sugar white sand beaches in the area might be soiled by oil.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - After an April 20 explosion and fire ruptured an oil well and sank the BP operated Deepwater Horizon drilling rig 5,000 feet down in the Gulf of Mexico, a travel survey revealed the 150,000 private vacation rental property owners in the area need not be concerned about the impact on tourism.

The vast majority of tourism areas in the Gulf have not been impacted by the disaster -- beyond fledgling fears from travelers that the pristine sugar white sand beaches in the area might be soiled by oil.

The draw of the beaches and vacation home facilities are a major asset for the region's tourism economy, especially in Florida's Northwest region where the beaches and travel accommodations are often assets of individual vacation property owners, rather than hotels and resorts.

Those property owners cheered the Gulf Oil Perception Study, conducted by the Beaches of South Walton (BSW) a Northwest Florida tourism group. It found that most June or July 2009 travelers to the white sand coast area planned to return again this year, with only 1 in 20 changing plans because of the leaking well oil.

Also see: "More bad news for Gulf Coast home values"

"The results of this survey should offer hope to homeowners," says Christine Karpinski, director of Owner Community at HomeAway.com an online vacation home rental portal.

"It indicates plenty of vacationers are planning to come to the Gulf Coast—even if the worst-case scenario happens. The oil spill isn't necessarily a deal-breaker," added Karpinski, also author of "How to Rent Vacation Properties by Owner" (Kinney Pollack Press, $26.00).

Unfortunately, since the survey, the worst-case scenario has happened -- after killing 11 drilling rig workers, the Deepwater Disaster has become the worst oil spill in the nation's history.

Spreading further and further along the coastal region, above and below surface, oil spill conditions have worsened and vacation property homeowners are going to have to pull out the stops to keep guests coming and protect their property values.

Worst case scenario

• The spill has affected 120 miles of shoreline stretching from Louisiana to Florida.

• Vacation beaches are open and gulf water recreation continues, but oil is looming off northwest Florida, already depositing tar balls and debris on some, after soiling stretches of marshland and coast in Louisiana, Mississippi and Alabama in the worst U.S. environmental disaster ever.

• According to scientists, every day, 12,000 to 19,000 barrels of oil are gushing into the Gulf of Mexico, wreaking havoc to environment, sea species and businesses. By day 49 of the oil leak, conservative estimates suggested 600,000 to 800,000 barrels had gushed into the Gulf from the busted well. The last worst U.S. oil disaster was in March 1989 when the Exxon Valdez tanker spilled 250,000 barrels of oil in Alaska's Prince William Sound.

• Fully one-third of the Gulf's federal waters, or 78,603 square miles, remain closed to fishing, and the toll of dead and injured birds and marine animals, including sea turtles and dolphins, is climbing.

• Hurricane seasons looms with the specter of wind borne black rain soaked in oil.

How to keep 'em coming

So how should area vacation property owners keep their vacation rental homes occupied and profitable under such adverse conditions?

"I suggest you take a two-pronged approach," says Karpinski. "First, do everything you can to reassure the guests who've already booked with you, and second, do everything you can to procure new bookings."

• Ratchet up communication with customers, but be transparent. Spend time directly assuaging their worries, without giving false information. Be patient and give them all the time they need to feel comfortable with their decision.

• Talk it up. Directly address the condition of the beaches, assuring guests that at this point they're still clean and beautiful (as long as they are). Frequently update online listing photographs of the white sands and pristine waters. Encourage recent renters to send up-to-date photos and write reviews. Also talk up area attractions, including restaurants, shopping, new travel facilities, or your beautiful pool, spa and Jacuzzi.

• Offer concessions. Offer free beach service, knock off the cleaning fee, offer buy-some-nights-get-one-free deals, throw in a gas card or free meal or discount attraction ticket. Do what it takes capture those yet-to-book vacationers.

• Loosen up your refund and cancellation policies. No one wants to accept a June booking in January, only to have the guest cancel on a whim on May 31, but these aren't normal times.

• Have an oil contingency plan. Don't devalue your property by slashing prices. Consider a "clean beach guarantee," that includes a full refund if the beach closes before they arrive; a refund for unused nights if the beach closes after arrival; a per-day percentage refund for guests who come even if the beach is closed.

• Be prepared for last-minute bookings. The BSW survey found that almost half of respondents planning to come to the Gulf Coast this summer haven't yet booked. Be accessible. List your cell phone number on your online listing's home page and or forward your home phone to your cell phone when you're out of the house. Be accessible.

• Gulf area vacation property owners can stay abreast with the "HomeAway Gulf Coast Oil Spill Update"

• Also see: HomeAway's "How to Mitigate Cancellations from the Gulf Coast Oil Spill"

• Click on the keywords below for more stories on this subject.

© 2010 DeadlineNews.Com

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Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

DeadlineNews.Com's Editorial Content Is Intellectual Property • Unauthorized Use Is A Federal Crime

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Dream vacation homes to vie for

You've got news...
news that really hits home!

A restored railway parlor car for four on the Yellowstone River. A sea shell with 5,500 square feet of living space. A habitable mini Sydney Opera House. A real tree house with howler monkey neighbors.

by Broderick Perkins
© 2010 DeadlineNews.Com



Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - A restored railway parlor car for four on the Yellowstone River. A sea shell with 5,500 square feet of living space. A habitable mini Sydney Opera House. A real tree house with howler monkey neighbors.

If you gotta get away, why not choose accommodations that will be as memorable as your vacation? Pack your bags. We found a half dozen vacation properties that will have you rethinking your getaway plans.

"Why would you want to go on vacation and stay in a house that looks like yours?" asks Christine Karpinski, director of the Owner Community for HomeAway.com, the nation's largest vacation rental portal.

Get the full story on AOLNews.com: Dream Vacation Homes That Upstage the Vacation

• Click on the keywords below for more stories on this subject.

© 2010 DeadlineNews.Com

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Advertise on DeadlineNews.Com | Shop DeadlineNews.Com

Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins is also the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

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'Layaway Vacation Plans' lure vacation rental guests

Giving kids credit, when credit's due

Investment Advice: The economy's summer doldrums have forced many vacation rental owners to succumb to accepting lower rates from haggling guests. The Layaway Vacation Plan may be a better idea.

by Broderick Perkins
© 2008 DeadlineNews.Com

Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - Vacation home owners pinched by this summer's travel season squeeze, may want to consider a new option for attracting guests -- the Layaway Vacation Plan.

Get guests to opt for an installment payment plan now so they can secure their vacation later.

Not only will stretching out the payments be easier on guests' travel budgets, it'll also keep vacation property owners from guessing about occupancy next year.

This summer, thanks to the lingering soft economy, many vacation home owners have been besieged by vacation and daycation bargain hunters, forcing some property owners to succumb to accepting lower rates than preferred.

"Obviously, the best way to avoid last-minute hagglers who want your place for a song is to make sure you're booked up well in advance," says Christine Karpinski, director of Owner Community for HomeAway.com, a vacation rental portal for property owners and travelers.

"And one way to set yourself up for success is to make it as easy as possible for budget-conscious travelers to choose your property," added Karpinski, author of "How to Rent Vacation Properties by Owner" (Kinney Pollack Press, $26.00).

Vacation travelers typically have more discretionary cash than those who don't travel, but coming up with a lump sum that amounts to a few thousand dollars is daunting even for them.

Karpinski suggests the following approach:

• Instead of asking for the traditional 50 percent down, get 20 percent down and divvy up the rest in monthly installments. Charge a small administration fee of, say, $25 for the installment plan effort.

"The real risk is that if you require 50 percent down, you alienate potential renters who might have booked with you if you had offered a payment plan. You never know how many great guests might be passing you up because of your inflexible payment policy," Karpinski says.

• Use a solid contract. Vacation rental owners should already have a solid rental agreement. Update it with a new payment plan option that includes the down payment amount, amount and date due of monthly installments and the cancellation policy. Include a contractual provision for your right to cancel the reservation and to recoup a portion of what's paid should the guest miss a payment.

Karpinski says you can decide to be flexible and allow slow-paying guests to catch up payments, or decided to refund money already paid.

"But the contract just lets everyone know up front what to expect, so there are no misunderstandings and no surprises," she says.

• Suggest travel insurance. Some guests do face emergencies and must cancel their vacations. Vacation property owners should be informative and make a strong travel insurance pitch along with any payment plan. The guest buys the insurance, but the property owner can include travel insurance information in early contacts with the guest and in the rental agreement.

Travel insurance is relatively cheap about 5 to 7 percent of a trip's cost for the "trip cancellation" variety. For example, a $5,000 trip would cost roughly $250 to $350 to insure, according to the Insurance Information Institute.

• Advertise flexibility. Prominently advertise you are in the layaway vacation business and you have some flexibility to let guests determine how to pay. Stating "Require down payment" and "Will work out a payment plan" is a good lure.

"The more you accommodate your guests' wallets, the more likely your vacation home will accommodate their families. It positions you as someone with whom they want to do business. It sets you apart from the competition," Karpinski says.

There's a lot more vacation rental, vacation home, investment property, and second home news that really hits home.

• Click on the keywords below for more stories on this subject.

© 2008 DeadlineNews.Com

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Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins is also the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

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Rent that second home now! Beat the spring rush!

If your vacation home has become a white elephant, consider renting it out, at least part of the time, and it can become a cash cow.

by Broderick Perkins
© 2008 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - If you are sitting on a rarely used vacation home and the economy is closing in on you, maybe you should open the door to that second home and turn it into a vacation rental.

Many second home owners who use their extra property only as a personal getaway often avoid renting it out because of misconceptions or fears about the business of vacation home renting, says Christine Karpinski, Director of Owner Community for HomeAway.com, online vacation home rental marketplace.

Karpinski, also author of "How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment" (Kinney Pollack Press, $26.00), says the recession is the perfect time to turn a vacation bungalow into a bundle.

And setting up the deal right now, before the spring and summer travel rush, will position you ahead of the pack.

"Money's tight for everyone and second homeowners are no exception. Perhaps you've lost your job. Or your retirement portfolio is in shambles. Or things are okay now, but having that extra mortgage payment in this economy just makes you nervous. At any rate, it's looking like you're going to have to sell that beach house or mountain cabin you and your family love so much. But don't start the grieving process just yet," advises Karpinski.

"There is a way to enjoy your vacation home and profit from it, too: Rent it out!"

She says rent out your property only 17 weeks out of the year and the revenue you typically can collect can pay your annual mortgage costs plus all other associated rental bills. Rent it more often than that -- a surprisingly easy task for most HomeAway.com homeowners -- and you could find yourself well out of the red and into the black.

If the task appears daunting, chillax. Most worries never materialize.

For a dose of vaction rental myth busting, here are some concerns second home owners fear about renting and the reality vacation rental owners experience.

Myth: Renters will constantly trash your property.

Whether they find you online or go through a property manager, most vacationers understand that they're guests in a private home and are more likely to treat it with more respect than they would a commercial hotel room. Also, when you rent by owner, you get to choose who stays and who doesn't.

Myth: You'll be on your own handling a business you don't know.

You can always hire a property manager to oversee your property and its upkeep. HomeAway.com also offers the Owner Community of tips and advice for smooth operations. Articles, weekly podcasts, webinars, industry news, sample forms and checklists keep you in the know.

Myth: It is too difficult and pricey to get the word out about your property.

Sign on with a reputable listing site to get guests to beat a path to your vacation rental's door. From about $169 and $550 a year you can rent on a host of HomeAway.com portals.

"Most listing websites are worth their weight in gold," says Karpinski.

"They tend to be inexpensive, and if you carefully craft your listing, you may find this is all the marketing you need to do. Just remember: There is no advertising more effective than word-of-mouth. Give your guests a great experience, and they'll spread the word," said Karpinski.

Myth: Property upkeep will be a nightmare.

One of the most consistent excuses from non-renters is that the homeowners don't want to be woken up in the middle of the night because their renters are locked out or because a toilet has overflowed. This problem can be solved by simply putting a good plan in place and by hiring the right maintenance and cleaning people in the city or town where your property is located.

Ask around town for recommendations. Don't forget to inquire about negative experiences to weed out the weeds. Once you have hired your staff, have a friend or family member stay at the property and evaluate the level of care they receive. Provide your renters with clear instructions on what to do in trying situations and you can avoid most calls of this nature.

Myth: It is too time consuming.

The bulk of your time is spent up-front, setting up your rent-by-owner business. After that (except for time spent doing your banking and bookkeeping, of course), your work usually consists of a phone call or two and a couple of e-mails per guest to make sure everyone has the information they need.

"Even at your busiest, you most likely will need to spend only about an hour fielding inquiries and making arrangements," says Karpinski.

"If that still sounds like too much time, just think about what your return-on-investment will be. One inquiry call could turn into a $2,000 opportunity, and when you have that check in your hand, you'll likely think of that as time well spent," she added.

Myth: You'll never be able to enjoy your home yourself.

There is no requirement on how frequently you have to advertise your property as "available." You can rent out your home during peak season and enjoy it yourself in the off-season. You can live in it during the winter and rent it out in the summer. Or you can reserve a few weeks out of the year for your own use and rent it out the rest of the time. It's all up to you.

• Remodel now! Beat the spring rush!
• Sell now! Beat the spring rush!
• Buy now! Beat the spring rush!

More vacation rental news that really hits home!

© 2008 DeadlineNews.Com

Advertise on DeadlineNews.Com

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Get news that really hits home for your Web site or blog from DeadlineNews.Com.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group -- DeadlineNews.Com, a real estate news and consulting service and Web site and the Deadline Newsroom, DeadlineNews.Com's news back shop. Perkins is also a National Real Estate Examiner. All the news that really hits home from three locations -- that's location, location, location!

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