SLO County News BlogGolf, Wine, Real Estate, Business & Travel NewsBuyers Sold on Second Homes in SLOThursday, December 08, 2005The beaches of the Central Coast of California have always captivated visitors.Recent San Luis Obispo County homebuyers are often families from the Central Valley, Bay Area and Southern California who have taken advantage of the booming second-home market. A recent study by the UCSB Economic Forecast Project shows that about 37.5 % of San Luis Obispo County homebuyers come from outside of the area. Baby boomers, many at the peak of their earning potential, are snapping up second homes either because they want a weekend vacation escape or a solid investment. Last year was a record year for second-home purchases nationwide, with sales rising 16.3% from 2003 to a total of 2.82 million units sold, according to the National Association of Realtors. Second homes account for more than a third of all home sales. It's unclear where second-home purchases stand in San Luis Obispo County, although anecdotal evidence suggests that the trend is likely to continue well into the future, despite an increase in interest rates and a gradual slowdown in the housing market. Read entire article at: Buyers Sold on Second Homes in California, RISMedia Read More
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