SALES RECORDS
Her observations come as vacation-home sales rose about 17 percent last year to a record 1.02 million from 872,000 in 2004, and investment-home sales rose about 16 percent to 2.32 million in 2005, also a banner mark from 2 million in 2004, according to the National Association of Realtors.
The median price of a vacation home was $204,100, up 7.4 percent from 2004. The typical investment property cost $183,500, up 24.0 percent from 2004.
A vacation home is a property that people buy primarily for their own recreational use, while investment homes are used to generate rental income.
Though mortgage rates have steadily risen since early 2005, strong demand from baby boomers to buy vacation and investment properties and rates still hovering at historically low levels below 7 percent have boosted sales, experts say.
They also say sales have been helped by a federal tax law that allows couples selling their primary homes — not second homes — to avoid capital gains taxes if they lived in the home for two of the previous five years……..(See link or e-mail me for article)
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