Tuesday, August 03, 2004

ASHEVILLE #1 for Investing in a Second Home 

Top 10 Towns for Second Home Investment

RISMEDIA, Oct. 9—EscapeHomes (www.escapehomes.com), one of America's foremost online sources for vacation homes, has identified the top vacation towns as a resource for investor's who want to buy a second home or vacation home and diversify their portfolios. The list was researched in response to investor interest in vacation real estate as an alternative to declining stock market values.

The Top 10 towns for investing in a second home are:

Asheville, North Carolina
Ashland, Oregon
Beaufort, South Carolina
Daytona Beach, Florida
Myrtle Beach, South
Carolina Park City, Utah
Port Townsend, Washington
South Lake Tahoe, California
Sunriver, Oregon
Charlevoix, Michigan

Escape Homes http://www.escapehomes.com/cities/Asheville/
writes of Asheville:

"If you love golf and the mountain lifestyle, you will love Asheville, North Carolina. In addition to golfing any of the 18 different nearby golf courses, you can spend your time hiking the Appalachian Trail, whitewater rafting, fly-fishing, or snow skiing. For those who aspire to become an artist, Asheville offers many local galleries to show your work, or even painting classes to perfect your skills."

The site goes on to say, " Not an artist? Perhaps perusing the local antique shops located downtown will suit you. Everyone can admire the Biltmore House, America's largest private residence with 250 rooms, built in the late 1800's by the Vanderbilt Family. On a more reasonable scale, you will find many vacation homes and golf vacation rentals. No matter what your interests, you will enjoy the quaint downtown setting in Asheville. Population: 66,500

The TOP 10 TOWNS FOR INVESTING list was compiled by cross-referencing consumer interest in vacation towns on Escapehomes.com with the percentage of equity growth in each town over the last five years. This Top 10 list reflects current market trends and uncovers a few new hot spots for purchasing and investing in a second home.

Of the towns listed 50% have a median price below the national average price for a second home of $162,000. All towns shown have seen considerable growth and have increased in property value an average of more than 10% per year over the last five-years.

Current market conditions combined with low interest rates provide second-home buyers a high-return alternative to declining stock market values.

"Vacation homes and second homes have become one of the few golden investment opportunities," says Clark Thompson, CEO of EscapeHomes.

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