San Mateo, CA (PRWEB) February 5, 2008
While the recent downturn in the real estate industry has slowed primary home sales, new types of property ownership have spurred growth in the vacation property market. Vacation properties that offer full ownership hotel-condo opportunities are finding buyers despite the softening housing market.
Ray Avanzino, a mortgage planner with MD Mortgage Direct, has seen a trend toward condo-hotel vacation properties, particularly among his baby boomer clients. "Many baby boomers are sitting on a lot of equity in their primary residences and that money isn't working as hard as it could for them. To invest in additional properties, many are looking at hotel-condo opportunities. My clients get a premium property that will earn them a return, they have world class management companies handling the rental while they're away, and they have a vacation spot that will allow them to get away from it all and spend time with family and friends. It's a win-win," said Ray.
Other clients are investing in vacation properties as part of a strategic retirement plan. They purchase a vacation home now and rent it out for a majority of the year, keeping a few weeks open for their own relaxing holidays. The goal? Make the vacation home the primary residence upon retirement. Many view this investment as the best of both worlds, as it provides a future home yet acts as an investment that could be sold at any time if college funds or other big ticket items are needed.
Ray Avanzino highlights these emerging trends and other wealth building insights at his daily blog http://www.rayavanzinoblog.com. With regular posts and a weekly wrap-up, his Mortgage MD blog is an indispensable source of information for prospective home buyers and current homeowners.
About Ray Avanzino
Ray Avanzino and his partners have been providing top-tier mortgage services in San Mateo for 11 years under the brokerage of MD Mortgage Direct. They offer a variety of programs designed specifically to meet our clients' financing needs including new home financing, refinancing, credit lines, commercial loans, construction loans and private money loans. They also offer a range of financial planning services from cash flow and debt analysis to real estate equity and investment analysis. They are committed to helping clients manage and protect their home equity and personal cash flow. Contact them directly at 650-576-6531. http://www.rayavanzino.com
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