Property in Mumbai: 10 best places to buy a vacation home

10 best places to buy a vacation home - Property in Mumbai

The economy is improving, banks are beginning to ease standards for lending, and mortgage rates are near their record lows. These factors are making it easier for Americans to wade into the real estate market again. For those who can afford it, even vacation property, either as a second home or as an investment to rent out, is increasingly in high demand. Based on data provided by real estate listing service Trulia, 24/7 Wall St. reviewed the 10 most searched places for vacation homes on Trulia’s website between April 2012 and March 2013. A place was considered a vacation area if 25% of the housing stock was used seasonally or occasionally, as measured by the U.S. Census Bureau. 24/7 Wall St. looked at the median asking price in the area, also provided by Trulia. These are the most popular towns in which to buy a vacation home.

Median asking price: $219,900

Percentage change from 2012: Unchanged

Cherry Grove Beach is “a sleepy little fishing village that time has passed by,” said Annie Morse, an agent with Buyers Agent Specialty. The area is known for its Fishing Pier, a popular tourist destination. Unlike the nearby Myrtle Beach area with its many high-rise condos, Cherry Grove Beach mostly has older beach houses, which, as Morse pointed out, gives the neighborhood a quaint feeling. Many people park their car for the week and travel around the area by golf cart, she added.