Asheville Mountain Real Estate Blog

Asheville, NC real estate for sale. Information for buyers, sellers and mountain homeowners, without pressure. Rich content for those who are far away about what it is like to live here through the generous use of media. And some nostalgia with our, "Baby Boomers' Fun Stuff", Thanks for stopping by.

My Photo
Location: Mars Hill, NC, United States

A small, highly personalized real estate firm specializing in mountain homes and land in greater Asheville.

Tuesday, August 19, 2008

Gasoline, Vacations, and Second Home Rentals

The New York Times discusses how it is that rising costs for gasoline and other essentials are actually boosting the market for second home rentals. At first blush, this may seem anomalous, but the explanation makes sense.

The argument relies on the adjoining thoughts that inflation in general leads consumers to cut back, while gasoline prices dampen vacation plans, and keep people closer to home:
As the economy sours, demand for vacation home rentals increases, as rental homes are seen as inexpensive alternatives to luxury hotels...

Also, people are now beginning to divert their vacations to more local spots where rental homes are an option.
Close to Home in Asheville
Confirming the idea that folks would be staying closer to home is a Rand McNally survey released in May reporting that, "two-thirds of Americans planning road trips this summer are either altering their plans to shorten their trips or canceling altogether."

Asheville toruism officials clearly echo this notion:
"We’re seeing a tremendous drop-off beyond a six-hour radius. With fewer visitors from Florida, the Gulf Coast, the Northeast and the Midwest, we’ve been having to rely on the visitors from Raleigh and Charlotte,” said Julie Hanser, vice president of attraction marketing for the Biltmore Estate.
Jay Winer of The Grove Park Inn, one of Asheville's flagship operations notes:
"...visitors who do come may be counting their pennies. “They still eat out, but they may not order the $200 bottle of wine,” she said. “They may opt for the $40 bottle.”
And For Second Home Rentals?
To say locally whether this convergence of factors has boosted second home rentals is difficult. Information that is more than anecdotal is not easily obtained, but the NY Times article cites significant increases in web traffic for various vacation rental websites.

It's all worth thinking about, with the leaf and ski seasons looming before us. Check out our previous resources for renting your second home, and good luck:

3 Big Questions About Renting Your Second Home

Attracting Renters to Your Second Home

Protecting Your Second Home From Bad Renters

Thanks for stopping by,
Black Bear Realty Website
828 689 2055
Anti Spam Graphic: info AT blackbearre DOT com

Filed Under: Issues for Second Home Owners/Buyers

AddThis Social Bookmark Button


Post a Comment

<< Home