second homeHawaii? Nope. California? Nope. Florida? Nope. Where is the hottest second home market in the U.S.? Ocean City, New Jersey.

According to an analysis of second home purchases by SmartAsset, Ocean City rose to the top of the list thanks to a whopping 79.38 percent of its mortgages were for secondary residences. The coastal town has 2,865 mortgages for second homes and 744 for primary residences.

For comparison’s sake, the next closest city on the list, Salisbury, Maryland, had 54 percent of its mortgages going to second homes.

And areas you’d think might be at the top like Destin, Florida or Kahului-Wailuku-Lahaina, Hawaii had a mere 53 percent and 45 percent, respectively.

“To complete our rankings, we compared two metrics: the total number of home purchases and the number of home purchases made for non-primary residences,” SmartAsset said.

How did Texas fare? Who else made the list? Head over to SecondShelters.com to find out.

 

While the house itself may look a bit different from when John Denver and his wife Annie bought it in the 1970s, the Colorado estate still has the views that inspired him to write “Starwood in Aspen.”

The local couple that bought the home in 2016 put the home on the market last month, after doing extensive remodeling, telling the Denver Business Journal that they installed new floors, and replaced the windows and the roof. They took pains to save the fireplaces, stained-glass work, copper sinks and fixtures, and the cabinetry, which was refinished and, in places, repurposed. (more…)

CharlestonEditor’s Note: Recently, MoneyWise revealed its list of the 40 most frugal and friendly places to retire. In a bid to provide an idea of what housing inventory is available in these cities and towns, we’re taking a look at listings in each of the cities on the list.

Not everyone can spend $1 million or more on a second home, even if it’s with the idea that eventually you’ll retire there. So when MoneyWise’s list of 40 places to retire that are more budget-friendly came out, we were curious — what kind of homes could you find in these towns?

Last week, we looked at the 28th city on the list — Tampa, Florida. This week, we look at Charleston, South Carolina, and found three great homes — all for less than $500,000.

“You can live comfortably in Charleston on an income of around $55,000, and the median price of homes is about $250,000,” MoneyWise said. “In Charleston, you will have access to beaches, excellent restaurants, and plenty of outdoor fitness activities.” (more…)

evansvilleEditor’s Note: Recently, MoneyWise revealed its list of the 40 most frugal and friendly places to retire. In a bid to provide an idea of what housing inventory is available in these cities and towns, we’re taking a look at listings in each of the cities on the list.

Not everyone can spend $1 million or more on a second home, even if it’s with the idea that eventually you’ll retire there. So when MoneyWise’s list of 40 places to retire that are more budget-friendly came out, we were curious — what kind of homes could you find in these towns? (more…)

MobileEditor’s Note: Recently, MoneyWise revealed its list of the 40 most frugal and friendly places to retire. In a bid to provide an idea of what housing inventory is available in these cities and towns, we’re taking a look at listings in each of the cities on the list.

Not everyone can spend $1 million or more on a second home, even if it’s with the idea that eventually you’ll retire there. So when MoneyWise’s list of 40 places to retire that are more budget-friendly came out, we were curious — what kind of homes could you find in these towns?

Last week, we looked at the 32nd city on the list — Overland Park, Kansas. This week, we look at Mobile, Alabama, and found three great homes — all for less than $500,000.

Mobile (more…)