Where-to-look spots for homes
Hey guys, just continuing the column from last week! The best where-to-look spots for that special place. Last week finished at the coastal of North Carolina. Just in case you didn’t read/follow our column … now it continues.
South Lake Tahoe, Calif.
Closest major city: Sacramento, about 2 hours east.
Why it’s a bargain: Near the Nevada state line. South Lake Tahoe offers real estate prices far below those in other California real estate /resort areas.
Seasonality: A dry climate, 300 days out of 365, encourages year-round residence. Many vacationers end up making the town their retirement home.
Activities: skiing in the winter … fishing and boating in the summer … nearby casino nightlife all year.
Medium house price: $312,000.
Saugatuck, Mich.
Closet major city: Lansing, an hour and a half drive to the east.
Why it’s a bargain: An annual film festival, busy art scene and reputation as the “Cape Cod of the Midwest” (it is by Lake Michigan) haven’t yet inflated Saugatuck’s real estate prices to outrageous prices/levels.
Seasonality: The year-round population of 1,000 swells to 3,000 during the summer , when vacationers from Chicago, Grand Rapids and Detroit pour in. Activities: Beach going, horseback riding, gallery-hopping. .
Medium house price: $220,000.
Great Smokey Mountains, Tenn.
Closet major city: Knoxville, slightly over an hour’s drive north .
Why’s it’s a bargain: The cost of living in well-appointed towns, such as Gatlinburg, is well below the national average, and Tennessee has no state income tax.
Seasonality: Altitudes in Great Smoky Mountains National Park keep the temperature and humidity down during the summer., when many vacationers visit.
Activities: Hiking, botany, wildlife viewing, lake fishing, barbecue competitions.
Medium house pricing: $199,000.
Tybee Island, Ga.
Closest major city: Savannah, a half hour west by car.
Why it’s a bargain: By freezing or lowering prices, the recession made this upscale, somewhat old-fashioned seaside community more affordable.
Seasonality: Tybee is a summer destination.
Activities: Deep-sea fishing, kayaking.
Medium house price: $550,000.
—
I received several e-mails, letters to the office, etc., concerning my finishing one of my columns written in May – sorry … I went through my notes and research, sure enough I did. It has to do with taking title. At least some of you pays attention – thanks.
Taking title – good and bad
Note: The asset protection provided by placing a shared home in one name is not ironclad, particularly between married partners. This should not be considered a substitute for adequate business , professional, liability or umbrella insurance.
n Civil and criminal penalties could result if you shift assets to someone else’s name after legal claims occur.
n Homeowner’s insurance. The name(s) on your homeowner’s insurance should mirror the name(s) on your home’s title.
Reason: Having a different name on the policy could undermine your estate planning .
Example: A man puts his home in a trust, but his homeowner’s insurance is inadvertently left in his name, not the trust’s name. If the man dies in a home fire, the homeowner’s insurance will pay the claim to the estate rather than to his trust, subjecting the payout to probate and estate taxes-exactly what the trust was created to avoid. As always check with your Accountant or attorney.
Hope all the Father’s enjoyed their day as Mother’s have already enjoyed their day.
—
Have a real estate question? Write, call, fax or e-mail:
Bob Jeffries, Realtor,
Century 21 Birchwood Realty, Inc.
4040 Del Prado Blvd., Cape Coral, FL
239-549-5724 Office
239-542-7760 Fax