AgentIndustry News

Mountain markets offer retreat from heat

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

At higher elevations, the air is thinner and so are the second-home-buying opportunities. However, in this recession, a brief window of affordability has opened for entry-level homes. This is good news for people like me. I live in Arizona, and out of the 20 families on my street about a quarter of them own second homes and they are all located in mountain communities, not at beaches. I don't know everybody on my street, but of the folks I do talk to on a regular basis, one has a vacation home in Purgatory, Colo., and two have second homes in the White Mountains of Arizona, where the elevation in cabin areas stands about 7,200 feet above sea level. This is the Sunbelt phenomenon. The immediate, Pavlovian response when considering where to go for a regular summer vacation was always "the beach," whether that stretch of sandy earth was by an ocean or a lake. But, over the last 50 years, this country's migration patterns have been from the colder Midwest and Northeast...