Savvy Buyers Make A Move For Second Homes In Highly Depreciated States

A recent trend has emerged as there has been a large increase of home buyers who are making purchases in certain areas of Michigan, Floria, Arizona, etc. where there are spikes in second home sales. These savvy buyers are making second home purchases in highly depressed markets in which they see future appreciation in value. For example, Chicago has dropped 35%, and not nearly as drastic as 75%.

The future value of real estate is expected to have a dramatic increase in areas which are highly attractive for people to live yet were really hit hard by the real estate crash. These areas that have seen prices in values drop significantly now have the potential of a large upswing in home values.

Posted by Sohail Salahuddin on 08/01/2012

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