Joreta Speck is a top-producing Realtor and Owner of Chautauqua Area Real Estate. In this short article, she discusses the current state of vacation properties in and around Chautauqua and reveals a number of opportunities for would-be vacation rental property owners.
Speck’s journey to becoming a Realtor is not one heard every day. She began as a school teacher who wanted a place in Chautauqua. Speck remembers, “I decided that the best way to get what I wanted was to purchase an older building, renovate it and turn it into condos.”
Speck did exactly that and it was so successful that she began capturing the attention of others. “I had people ask me to do another building, so I did,” she recalls. “I ended up doing 6 renovation conversions and even building a 67 unit new building.”
This exposed Speck to the real estate bug. She obtained her real estate Broker’s license shortly thereafter and she’s been in real estate sales and property management ever since.
When asked what is currently happening with regards to vacation and rental properties in and around Chautauqua, Speck had this to say, “After several years of slow sales, people are beginning to purchase vacation homes again.” She then adds, “Prices have come down from their all time high, but as demand increases, sales will again drive the prices higher.”
Low prices before the inevitable price climb? Sounds a lot like a good time to buy. Speck responds to this suggestion, “Obviously, this is a good time to purchase as prices are still slightly deflated.” She adds, “Many people don’t realize that Chautauqua during the off season is a great place to rent. For a relaxing getaway it is ideal and the room rates are less than half what they are during the summer season.”
For anyone not familiar with Chautauqua, Speck paints a very nice picture, “There is golf, hiking, biking, quiet walks by Lake Chautauqua. During the winter we have cross country skiing, snowshoeing, and horse drawn sleigh rides.” Speck adds enthusiastically, “We have a clientele who only come in during the off season and often two or three times per year. And don’t forget that the spa is open year round for massages, manicures and pedicures.”
Some of the savviest advice one can get when looking at purchasing real estate has always been along the lines of, “Work with a professional Realtor.” This is never as true as when dealing with vacation property where there are so many variables involved-it is nearly impossible for the layperson to understand everything necessary to make a good buying or selling decision.
Joreta Speck certainly has the experience and the helpful personality to facilitate informed decisions when it comes to all real estate matters in and around Chautauqua, NY. For more information about Joreta Speck please visit her website at: http://www.chautauquavacationrentals.net or call her at (716) 357-3566.