Continuing education is important at 828 Real Estate. This month, we congratulate Corrinne Loucks for achieving her Resort & Second-Home Property Specialist (RSPS) Certification!
What is a RSPS Realtor?
RSPS Realtors work with buyers and sellers in second home, resort, recreational, and vacation destinations. The High Country of North Carolina requires an in depth understanding of the local market, vacation and second home tax issues, the ins and outs of real estate investments, and local and state regulatory matters.
Many communities in and around Boone have some form of rental housing regulations. More townships are rushing to implement ordinances in response to the boom in short-term rental markets. A Resort and Second-Home Property Specialist understands the implications of rental home regulations in Boone and can advocate for clients throughout the buying and selling process
Housing Markets for Primary Residences and Vacation Properties are Different
The resort, vacation and second home market differs in significant ways from the primary residential housing market. Buyer’s interests range from small rustic cabins to luxury properties. Weekend getaways and future retirement homes have income potential and operate in a specialized market that includes international, investment and retirement clientele. Sometimes RSPS clients are well versed in investing and 1031 exchanges.
Buying a Second-Home in 2021
2020 saw a huge boom in the second-home housing market. Increased demand for “getting away from it all” during the pandemic, historically low mortgage rates, and increasing desirability and affordability of owning a vacation homes led to an influx of individuals who were in-market and ready to buy. In 2021, buying a second-home will continue to trend and the abnormally hot housing market will too. Newfound ability to work from home means buyers can spend more time enjoying their vacation homes.
Vacation Home Sales in the High Country of North Carolina
Today, the National Association of Realtors (NAR) reports that vacation home sales are outperforming total existing-home sales. NAR has identified a county as a vacation home county if at least 20% of the housing stock is for seasonal use. Here in the NC High Country, vacation home percentages are reported as follows:
- Alleghany 31.3 %
- Ashe 24.3%
- Avery 40.5%
- Watauga 30.4%
Sales of homes intended for vacation use rose 44% in the three months of July-September 2020, compared to the same period last year, according to NAR. In comparison, total existing-home sales during July-September rose 13% year-over-year.
Find a Resort Specialist in the High Country of NC
As a real estate investor, Corrinne Loucks first obtained her California Real Estate License in San Diego in 1998. Earning her license was a tactic to gain a better understanding of the investor markets, have firsthand access to opportunities, and to negotiate the commissions on her properties. When she moved back to the east coast, Corrinne chose the Boone area of the North Carolina, a previous favorite vacation destination of hers. It came naturally to obtain her North Carolina Real Estate license when she moved here in 2003 and Corrinne has been successfully helping investor and residential clients ever since.
Corrinne also holds other real estate designations such as GRI – Graduate of the Realtor Institute, ABR – Accredited Buyer’s Agent and she is also a Professional Stager with the Association of Professional Stagers.
When you look for a Realtor in the NC High Country, consider a seasoned Realtor like Corrinne, who has proven experience and education in the matters that are important to your real estate purchasing, selling and investing success.