Recently an article from RISMedia was sent to me from an associate of mine. I found this article particularly interesting in that it earmarks what Buyers are looking for in a second residence, and thought I'd share my good fortune...
Quoting from the article, which is taking it's information from the 2006 Coldwell Banker Previews International(R) Luxury survey, "Key findings from the 2006 Luxury Survey indicate that the typical million-dollar homeowner likes to live well, but they are not living an ultra- lavish lifestyle," says Jim Gillespie, president and CEO, Coldwell Banker Real Estate Corporation. "We did not find huge numbers of these consumers having
amenities like heated floors (14 percent), tennis courts (4 percent), or backyard putting greens (5 percent)." ...
More importantly and interestingly enough... More than one-third (35 percent) surveyed own second homes. Another 35 percent of respondents indicated that they are considering buying an investment property, and/or a secondary residence for family use.
What that tells us is that they understand that real estate remains a solid, long-term investment, and one that they can enjoy...
The report, which truly engulfs more than 50% of the tourists we typically have been getting to Roatan of late, goes on to say...For those who own second homes, and even those considering purchasing second homes, the preferred locales suggest these homebuyers are interested in rest and relaxation. Of the 35 percent of respondents who own a second home, 55 percent of them are in recreation areas, including the
beach/oceanfront (32 percent), lake front (11 percent) or in ski resorts/mountain areas (11 percent). The same is true for those who would consider buying a second home. Forty-two (42) percent would select beach / oceanfront locations, with 14 percent opting for ski areas/mountains, and 12 percent on the lake.
Interestingly, these consumers are not necessarily looking to retire to these second properties just yet, as 32 percent of those polled do not plan to retire until they are 65 or older, and 14 percent saying they plan to retire between the ages of 60 and 64," Gillespie continues. When that time comes, respondents look forward to traveling domestically (42 percent) and internationally (46 percent).
I've heard numbers in the 80M or so of Baby Boomers retiring over the next few years.... and a lot of them are headed to the Tropics...where the bang for the buck is still better than say Florida, or other US based resort destinations. Think about this all you investor types....if we get just one thousand of those eighty million BB's....(we don't even have 1,000 properties for sale here!!!!) What effect will THAT kind of activity have on values here??? Hmmnn. 
