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If you’re dreaming of buying a vacation home, this just may be the time, according to the Marco Island Area Association of Realtors.

Single-family home sales increased on Marco Island 66 percent from May 2007 to May 2008, and existing condominiums sales increased two percent from May 2007 to May 2008.

“The beauty of a vacation home is that it’s a great get-away as well as a good long-term investment,” said Jim Mashey, association president.

To begin the process of finding just the right vacation home, look where you’ve vacationed before, Mashey suggests. Or if you are considering a new geographic region, rent a home for a season to make sure it suits you.

“Think about what sort of vacation home you want – perhaps a cabin, a house or a condo. Condos come with homeowners’ associations, which have certain rules and fees, but also offer many benefits that are often attractive for owners who are not always on the premises,” he said.

Once you have a general idea of the area and type of vacation home you want, contact a Realtor – a licensed professional who is a member of the National Association of Realtors. You may want to interview several Realtors before choosing one best suited to your needs. Ask how many vacation home listings they have, how many years they’ve worked in the business and about any particular specialties.

A Realtor can help you determine how much you can afford and will coach you through the personal and financial data you will need to apply for a loan. Additionally, a Realtor will be familiar with current real estate values, taxes, utility costs, municipal services and facilities and zoning laws that may affect your property.

“Ask your Realtor about renting your vacation home to others – he or she can advise you on potential restrictions, advantages and disadvantages, and tips for making your vacation home a premium investment as well as fun get-away,” Mashey said.

According to NAR’s 2007 Investment and Vacation Home Buyers Survey, second homes make up approximately 30 percent of the total home-sales market. About 12 percent of homes sold are vacation homes; about 21 percent are purchased principally as investment properties.

Lifestyle factors and demographics favor the vacation-home market. A growing portion of the population is moving through the prime years for buying recreational property, and prices in general are likely to appreciate to reflect this healthy demand.

The typical vacation-home buyer in 2007 was 46 years old, earned a median household income of $99,100, and purchased a property that was a median of 287 miles from their primary residence.

In listing the reasons for purchasing a vacation home, 84 percent of buyers wanted to use the home for vacation or as a family retreat; 30 percent planned to make it a primary residence in the future; 26 percent wanted to diversify investments; 25 percent planned to rent to others; 16 percent bought for the tax benefits; 14 percent purchased the home for a family member, friend or relative to use; and six percent had extra money to spend.

NAR’s 2007 Investment and Vacation Home Buyers Survey can be ordered by calling 800-874-6500, or online at www.realtor.org/newresearch.