The Second Homes issue is one of my favorites for a variety of reasons. First of all, who doesn’t dream of one day having another home to whisk away to when things in Chicago get a little hectic, or just get a little cold?
Secondly, for the cover shoot I get to travel to an exotic location (well, Wisconsin) and enjoy the local scenery. This year, we headed to Powers Lake to photograph Keith Keating, a spot I had never visited before. It was one of those warmer days, and standing by the lake wearing short sleeves and watching boaters enjoying the day made me anxious for the nearby days of summer, as well as long for my own getaway nestled along the shore.
In Chicagoland, there are a variety of reasons that people want to get away. While we love this city in which we live, temperatures below freezing can wear on you – leading to a huge portion of second-home buyers heading to Arizona, Florida or another warm climate. In the summer, the focus is more on gathering friends and family and heading to a quiet oasis away from the tourist-laden city. There are also a large number of suburbanites purchasing a weekend spot in the city to enjoy the nightlife throughout the year. Lastly, with prices so low around the country, investors are ready to scoop up the inventory.
With all of these reasons for Chicagoland buyers to make a second-home purchase, it is no surprise that NAR is reporting that vacation-home sales are on the rise (see p. 9). Therefore, this is a great niche for Realtors to sink their teeth into. In our cover story, we spoke with four second-home experts throughout Chicagoland and beyond to find out how to get into this market and make it work.
As the temperatures heat up – who knew we’d have a record-breaking April – no time like the present to find a great little lakefront cottage, or a city getaway, for your clients who are ready to purchase that second home.