{"id":350441,"date":"2011-03-30T18:15:56","date_gmt":"2011-03-30T18:15:56","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/30\/vacation-home-prices-are-falling\/"},"modified":"2011-03-30T18:15:56","modified_gmt":"2011-03-30T18:15:56","slug":"vacation-home-prices-are-falling","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/","title":{"rendered":"Vacation home prices are falling"},"content":{"rendered":"<p><div readability=\"74.610526315789\">    <!-- KEEP --><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg\" alt=\"million_dollar_homes_miami.top.jpg\" width=\"475\" height=\"308\" border=\"0\" class=\"cnnstoryImageFull\" \/><span id=\"fb-recommend\"\/><br \/>\n<span>By Les Christie, CNNMoney<\/span><span>March 30, 2011: 1:26 PM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><\/p>\n<p>NEW YORK (CNNMoney) &#8212; Been dreaming of a vacation home? Somewhere warm to get away? Or maybe a cabin in the woods? Prices are right if you can afford it. <\/p>\n<p>The median price of a vacation home was $150,000 in 2010, down 11.2% from a year earlier, the National Association of Realtors reported Wednesday. In contrast, the national median for primary residences fell only 4.5% in 2010, according to NAR.<\/p>\n<p>&#8220;The fall in prices has opened opportunities for more families to enter the second-home market,&#8221; said Lawrence Yun, NAR&#8217;s chief economist.<\/p>\n<p>Still, vacation homes accounted for just 10% of all sales last year, and investment properties made up another 17%. <\/p>\n<p>Those percentages were little changed for 2010 as home sales declined across the board. There were 543,000 vacation homes sold, down from 553,000 in 2009; investment purchases fell to 867,000 from 940,000.<\/p>\n<p>One factor depressing sales was the difficulty in getting mortgages due to tight credit markets. Buyers often did an end-around this problem by paying cash. Nearly 40% of vacation home sales were cash deals, while nearly 60% of investment deals were handled that way. <\/p>\n<p>Those buyers who did get mortgages brought big down payments to the closing tables, according to Walter Molony, a NAR spokesman. For vacation homes, the average was 30%, far more than the standard 20% down. Investment buyers with financing paid an average of 32% down.<\/p>\n<p>Many of the second homebuyers targeted distressed properties. About 17% of investment purchases were foreclosures, while vacation homebuyers chose distressed prosperities 10% of the time, NAR said. Only 10% of families buying primary residences last year went with foreclosures.\u00a0<a href=\"http:\/\/money.cnn.com\/2011\/03\/30\/real_estate\/second_home_sales\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/0e63013ebug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p><!--endclickprintexclude--><\/div>\n<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg-150x150.jpg\" \/><\/p>\n<p>See the rest here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/bGybofoAbqg\/index.htm\" title=\"Vacation home prices are falling\" rel=\"noopener noreferrer\">Vacation home prices are falling<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> By Les Christie, CNNMoney March 30, 2011: 1:26 PM ET NEW YORK (CNNMoney) &#8212; Been dreaming of a vacation home? Somewhere warm to get away? <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-350441","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vacation home prices are falling - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vacation home prices are falling - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"By Les Christie, CNNMoney March 30, 2011: 1:26 PM ET NEW YORK (CNNMoney) -- Been dreaming of a vacation home? Somewhere warm to get away?\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Vacation home prices are falling\",\"datePublished\":\"2011-03-30T18:15:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/\"},\"wordCount\":271,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/\",\"name\":\"Vacation home prices are falling - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg\",\"datePublished\":\"2011-03-30T18:15:56+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#primaryimage\",\"url\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg\",\"contentUrl\":\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Vacation home prices are falling - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/","twitter_card":"summary_large_image","twitter_title":"Vacation home prices are falling - Ghanamma.com","twitter_description":"By Les Christie, CNNMoney March 30, 2011: 1:26 PM ET NEW YORK (CNNMoney) -- Been dreaming of a vacation home? Somewhere warm to get away?","twitter_image":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/"},"author":{"name":"","@id":""},"headline":"Vacation home prices are falling","datePublished":"2011-03-30T18:15:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/"},"wordCount":271,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#primaryimage"},"thumbnailUrl":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/","url":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/","name":"Vacation home prices are falling - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#primaryimage"},"thumbnailUrl":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg","datePublished":"2011-03-30T18:15:56+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2011\/03\/30\/vacation-home-prices-are-falling\/#primaryimage","url":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg","contentUrl":"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/03\/d3f636d8s_miami.top_.jpg.jpg"},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2011\/#website","url":"https:\/\/www.ghanamma.com\/2011\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/350441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/comments?post=350441"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/350441\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/media?parent=350441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/categories?post=350441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/tags?post=350441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}