Vacation Homes – Another Great Area for Bargain Shoppers

If you are looking at investing in real estate as it nears the bottom – another great area to consider is vacation homes.  Many of these homes were purchased as tax hedges by the Silicon Valley elite – who found they could no longer sustain them time or money wise as the slump took its toll on them in terms of effort expended to keep their jobs, and financially as their primary home mortgages took a hike.

Some great bargains to be found include this 3 bedroom 2 1/2 bath condo in wine country, located on 1728 Zinfandel Drive in Petaluma.   Offering over 1300 sq feet at a price of $429K, this represents a great potential investment, as it could be rented out to wine country tourists for a substantial nighly fee.  The carpets have just been replaced, and there is fresh paint in and out.  The siding was also just replaced by the homeowners association. 

It overlooks the community pool as well, which is a great selling point as a vacation property.

Another vacation bargain is located at 19972 Mountain Meadow S, Hidden Valley Lake, Ca.  It is located in a gated, patrolled community with a private lake and 18 hole golf course, and is close to Clear Lake/Konocti Harbor, Napa Valley, and all the Lake Valley wineries. Priced at $349,000, it is clearly a bargain with 4 beds, 2 baths, and 1975 square feet.  

Many more bargains are to be had in the Mendocino area, as well as the Bodega Bay area with all its wildlife and interesting boutique shopping.  Tahoe is still holding its value, but it is only a matter of time before those properties will also become lower in value, and represent true bargains for those shopping for properties with potential upside in this market.