Top 5 Bargain Vacation Home Spots

**Beachbummett** · 05-30-2008, 01:03 PM

According to AOL Money & Finance . Thoughts?

http://money.aol.com/top5/realestate...-summer-home-1

**BeachKing** · 05-30-2008, 01:22 PM

Is this the URL you wanted?
http://money.aol.com/top5/realestate/bargain-places-summer-home?icid=100214839x1203095057x1200123426

**Beachbummett** · 05-30-2008, 01:32 PM

Originally Posted by BeachKing

Is this the URL you wanted?
http://money.aol.com/top5/realestate/bargain-places-summer-home?icid=100214839x1203095057x1200123426

That's it. Did mine not open for you? It opens for me. Thanks for your help.

**SHELLY** · 05-30-2008, 01:51 PM

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What a coincidence...an article in Nov 2006 ranked PC as the #1 place to buy too.

http://money.cnn.com/popups/2006/biz...est/index.html

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**Bob** · 05-30-2008, 04:23 PM

That would make it a better time to buy in PC!

**Geo** · 05-31-2008, 12:30 AM

Originally Posted by SHELLY

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What a coincidence...an article in Nov 2006 ranked PC as the #1 place to buy too.

http://money.cnn.com/popups/2006/biz...est/index.html

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Fair enough. Same article a year and a half ago. But Shelly et al, please tell me-

What places are better in your opinion (and why)? I spent a fair amount of time visiting beachtowns in the US and while there- evaluating all that they had to offer for the price. We moved to Sowal 3 months after first visiting...

Many (if not most) are more than familiar with your sentiments on *when* to buy in SoWal. Oh look- another SHELLY posting that pokes fun at the message, "Now is the time to buy". What a shocker! Sorry, don't mean to get personal. I respect you but it gets old sometimes. We all know you were right...

Anyway, this article isn't as much about when as it is about where. So let's have it. Where is better to buy than SoWal area (which I presume is part of what the article refers to even though it says PC) and why?

G

**SHELLY** · 05-31-2008, 01:38 AM

Originally Posted by geowickey

Fair enough. Same article a year and a half ago. But Shelly et al, please tell me-

What places are better in your opinion (and why)? I spent a fair amount of time visiting beachtowns in the US and while there- evaluating all that they had to offer for the price. We moved to Sowal 3 months after first visiting...

Many (if not most) are more than familiar with your sentiments on *when* to buy in SoWal. Oh look- another SHELLY posting that pokes fun at the message, "Now is the time to buy". What a shocker! Sorry, don't mean to get personal. I respect you but it gets old sometimes. We all know you were right...

Anyway, this article isn't as much about when as it is about where. So let's have it. Where is better to buy than SoWal area (which I presume is part of what the article refers to even though it says PC) and why?

G

IMHO this whole illusion of Vacation Area houses/condos as an "Everyman's Investment" is a folly--especially now during a recession. People with substantial sums of money to invest in RE already know when and where it's best to buy.

In my opinion, for those of modest means with extra money laying around collecting dust, buying a vacation home for fun--not profit--is merely a lifestyle choice....others would prefer to use this same money to travel the world; buy a boat; or gamble it away in Vegas every weekend.

Real Estate is an important part of a well-diversified portfolio, but for a huge majority of everyday citizens, their primary residence and REITs would be sufficient to check the RE block. Apparently there are still many people who don't realize that it was easy credit that lead to the building/flipping frenzy and made RE 'appear' to be a good investment...that ship has sailed, never to return.

Where is better to buy than SoWal area (which I presume is part of what the article refers to even though it says PC) and why?

If one can comfortably afford to buy RE and loves the place, what difference does it make what I--or anyone-- thinks? If my comments give someone pause--then the problem is with them, not with me.

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**Geo** · 05-31-2008, 02:04 AM

Originally Posted by SHELLY

IMHO this whole illusion of Vacation Area houses/condos as an "Everyman's Investment" is a folly--especially now during a recession. People with substantial sums of money to invest in RE already know when and where it's best to buy.

In my opinion, for those of modest means with extra money laying around collecting dust, buying a vacation home for fun--not profit--is merely a lifestyle choice....others would prefer to use this same money to travel the world; buy a boat; or gamble it away in Vegas every weekend.

Real Estate is an important part of a well-diversified portfolio, but for a huge majority of everyday citizens, their primary residence and REITs would be sufficient to check the RE block. Apparently there are still many people who don't realize that it was easy credit that lead to the building/flipping frenzy and made RE 'appear' to be a good investment...that ship has sailed, never to return.

If one can comfortably afford to buy RE and loves the place, what difference does it make what I--or anyone-- thinks? If my comments give someone pause--then the problem is with them, not with me.

.

SHELLY, the thread was about the article and what we thought about it- not what caused the bubble and mortgage mess. So I do not believe I am asking an unreasonable question...

You posted the "blink" smiley which I think looks like a perplexed expression. So I am gathering that you are perplexed by the fact that the article states that this area is #1 as far as where to buy.

So, last try. Pls tell us where is better to buy...

With all due respect, your last message seemed like a bit of a cop out.

There is nothing wrong with saying something once in a while like-

This *is* a great area and it might very well be one of the greatest places to buy (if one were to be in the market for buying- irrespective of whether they *should* be buying at all)...

It will not negate anything wise you've said in the past...

**SHELLY** · 05-31-2008, 02:29 AM

Originally Posted by geowickey

SHELLY, the thread was about the article and what we thought about it- not what caused the bubble and mortgage mess. So I do not believe I am asking an unreasonable question...

You posted the "blink" smiley which I think looks like a perplexed expression. So I am gathering that you are perplexed by the fact that the article states that this area is #1 as far as where to buy.

So, last try. Pls tell us where is better to buy...

With all due respect, your last message seemed like a bit of a cop out.

There is nothing wrong with saying something once in a while like-

This *is* a great area and it might very well be one of the greatest places to buy (if one were to be in the market for buying- irrespective of whether they *should* be buying at all)...

It will not negate anything wise you've said in the past...

Liz Pulliam Weston - MSN Money

http://articles.moneycentral.msn.com...nt.aspx?page=2

Vacation homes. You visit a beautiful place, you're enchanted, and the next thing you know you're dreaming about owning a little cottage tucked in the woods or by the lake or near the beach. Snap out of it, honey. Owning two homes is more than twice the hassle of owning one. The second home will have to be maintained, repaired and insured just like your first, but it will be empty for long periods, so things can go terribly wrong when no one will notice (bursting pipes, rat infestations, termite damage, etc.).
And if it's not sitting empty, it's being (ab)used by strangers or by freeloading friends. Most likely, you'll start feeling obligated to spend time there so you feel like you're getting your money's worth, even when you or your family would rather be somewhere else. Let other people deal with the hassle and rent their vacation homes.

DITTO....Shel.

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**fisher** · 05-31-2008, 08:42 AM

Originally Posted by geowickey

Fair enough. Same article a year and a half ago. But Shelly et al, please tell me-

What places are better in your opinion (and why)? I spent a fair amount of time visiting beachtowns in the US and while there- evaluating all that they had to offer for the price. We moved to Sowal 3 months after first visiting...

Many (if not most) are more than familiar with your sentiments on *when* to buy in SoWal. Oh look- another SHELLY posting that pokes fun at the message, "Now is the time to buy". What a shocker! Sorry, don't mean to get personal. I respect you but it gets old sometimes. We all know you were right...

Anyway, this article isn't as much about when as it is about where. So let's have it. Where is better to buy than SoWal area (which I presume is part of what the article refers to even though it says PC) and why?

G

Depends on who you talk to. I have many friends that swear by the Naples area for its warm winters (versus SoWal cool and sometimes cold winter days), some prefer Hilton Head, Amelia, Kiawah for the firm sand beaches, low country vegetation, golf, etc, others prefer the mountains of N. Carolina for the cooler summers, trees, golf, etc, others prefer Montana/Wyoming for the beauty of the Rockies, the skiing, the spectacular fall season, etc, ......

While an outstanding area to own a second home, SoWal is not the be all end all--cooler winters are a drawback, limited golf is a drawback, some people think the greenery (too many pines) is not very attractive, etc. That's why vacation homes have sold well in all these other areas too.

However, I agree with Shelly. Better to rent than own.

**Little Fish** · 05-31-2008, 09:10 AM

BB:

I appreciate the extra publicity that the article brings to our area. Also, I tend to agree that a new airport should positively effect our area in many ways... housing demand should increase over time, the number of first-time visitors should increase, the number of businesses should increase etc...

Little Fish

**Smiling JOe** · 05-31-2008, 09:11 AM

I've lived in the mountains of western North Carolina and can assure you that it is just as hot and more humid than NW Florida.

**Beach Runner** · 05-31-2008, 10:45 AM

Originally Posted by SHELLY

Vacation homes. You visit a beautiful place, you're enchanted, and the next thing you know you're dreaming about owning a little cottage tucked in the woods or by the lake or near the beach. Snap out of it, honey. Owning two homes is more than twice the hassle of owning one. The second home will have to be maintained, repaired and insured just like your first, but it will be empty for long periods, so things can go terribly wrong when no one will notice (bursting pipes, rat infestations, termite damage, etc.).
And if it's not sitting empty, it's being (ab)used by strangers or by freeloading friends. Most likely, you'll start feeling obligated to spend time there so you feel like you're getting your money's worth, even when you or your family would rather be somewhere else. Let other people deal with the hassle and rent their vacation homes.

We have really struggled with this one. When our vacation home was new, all of our trips there were vacations (with the exception of throwing down pine needles twice a year -- we designed our landscaping so that virtually no maintenance is required). But once a house gets a few years on it, maintenance issues are inevitable, especially for homes like ours that are so close to the beach. The wind, sand, salt, humidity do a number on a house. Door knobs with a lifetime warranty tarnish in a year. We could paint the entire house every year, but that would be prohibitively expensive. Our beachfront neighbor painted his house last spring; it needs it again -- it looks sandblasted. These are just a couple of examples.

Then the renters' abuse on top of the effects of Mother Nature adds another level of maintenance issues.

And we have had issues happen that didn't get noticed for weeks due to the house being unoccupied. For example, the line to the icemaker developed a crack. We walked into the house and the floor under the refrigerator was flooded. Thankfully, the wood floors dried out flat in about a month, so there was no permanent damage.

Bottom line: we normally don't vacation at our vacation home. If we are there for other than a weekend, we typically spend most of our time taking care of maintenance issues (either do-it-yourself to save money or arranging to have someone take care of issues that we can't). For example, we spent my entire spring break doing work at the house.

The sheer number of bills I have to pay every month for three residences (our college-aged daughter lives in Atlanta and doesn't work) is mind-boggling and time- consuming.

So we have been tempted to sell the vacation home and rent so that someone else can do the maintenance and pay the bills.

Yet we know if we were renting, we wouldn't come down every other weekend in the off-season and on the spur of the moment. We would really miss that luxury and having our getaway place.

Thus, our current plan is to downsize so that we no longer need to rent and to build a smaller vacation home with low maintenance being the number one consideration in every design decision. Also, we want to be further from the beach to reduce the effects of weather.

Edit: If money were no object, owning a vacation home wouldn't be a hassle. One could just hire a caretaker who takes care of all maintenance. Wouldn't need to rent. My, that would be nice.

**30A Skunkape** · 05-31-2008, 11:10 AM

This reminds me of the dilemma one faces when considering buying a boat. It sounds like a great plan to have a boat at your call to go fishing or tooling around on a pretty day, but most people have no clue how much time and $$$ is involved in keeping a boat. I have seen the numbers crunched and unless you use the boat frequently and are lucky in avoiding problems, it is way cheaper to charter a fishing guide several times a year or just rent a boat at a marina for the day.

**rancid** · 05-31-2008, 11:18 AM

[quote=SHELLY;416239]IMHO this whole illusion of Vacation Area houses/condos as an "Everyman's Investment" is a folly--especially now during a recession. People with substantial sums of money to invest in RE already know when and where it's best to buy.

While I agree with you on many of your thoughts on Gulf coast real estate, I find your above quote elitist at best and completely inaccurate. The idea that certain well to do people have an inside track on where the next real estate opportunity is false. Investment is risk taking. Whether you risk large amounts or small amounts is immaterial. Sure the well connected have advantages but they to make mistakes just as those with less money can make smart investments involving risk. By your theory, big players like Bear Stearns should never have collapsed.

Furthermore your insinuation that real estate cannot be an "Everyman investment" could just as easily be carried over to stocks and mutual funds. Certainly the big hedge fund players and well healed power brokers know where to put there money next and therefore the average investor should stay out of these investments since they are at a disadvantage.

Plenty of Everymen have made bunches of money by investing smartly where they have correctly perceived the bigger players heading and therefore moved their money there as well.