EscapeHomes Announces The Top 10 Towns For Investing In A Second Home
SAN FRANCISCO, CA -- October 8, 2002.  EscapeHomes, America's foremost online source for vacation homes, responds to investor interest in vacation real estate as an alternative to declining stock market values. EscapeHomes has identified the top vacation towns as a resource for investors who want to buy a Second Home as a way to diversify their portfolios. THE TOP 10 TOWNS FOR INVESTING IN A SECOND HOME Asheville, NC Park City, UT Ashland, OR Port Townsend, WA Beaufort, SC South Lake Tahoe, CA Daytona Beach, FL Sunriver, OR Myrtle Beach, SC Charlevoix, MI The list was compiled by cross-referencing consumer interest in vacation towns on Escapehomes.com with the percentage of equity growth in each town over the last five years. This Top 10 list reflects current market trends and uncovers a few new hot spots for purchasing and investing in a Second-Home. Of the towns listed 50% have a median price below the national average price for a second-home of $162,000. All towns shown have seen considerable growth and have increased in property value an average of more than 10% per year over the last five-years. An example of the strength in the second-home market can be seen in Ashland, Oregon, well known for its Shakespeare Festival, Ashland has shown a healthy 61% increase in home prices since 1997. The median prices of a Second-Home within the Top 10 listed range from $140,000 (Daytona Beach, FL) to $403,750 (Park City, UT). Current market conditions combined with low interest rates provide second-home buyers a high-return alternative to declining stock market values. "Vacation homes and Second-Homes have become one of the few golden investment opportunities." Clark Thompson, CEO EscapeHomes About EscapeHomes EscapeHomes.com is the leading online resource for people to find places to live, play, and relax outside of their current home community. The website features listings of vacation and resort homes for sale and for rent, along with retirement homes in active adult and continuing care communities, and timeshares in 275 cities nationwide and 20 countries. The site shows prospective buyers available properties with detailed descriptions of each town, including information on weather, area attractions, special events, and general amenities. EscapeHomes has been featured in over 30 publications, the latest including The Wall Street Journal, The New York Times, USA Today, Newsweek, and Barron's Magazine. The site has also been honored with a Forbes Best of the Web citation. For more information on EscapeHomes visit www.escapehomes.com or call 800/937-9090.