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When this is all over, I think I will purchase a second home. Although I have considered it, I’ve never pulled the trigger on a second home mostly because I enjoy hotels and resorts. In years past, Kathy and I have considered buying a second home in New York, Hawaii or even Las Vegas, which are our favorite cities to visit. In New York, I love the Langham Hotel. It’s walking distance to most of my favorite spots and they have a great restaurant on the second floor. In Hawaii, we usually stay at the Andaz in Maui. It’s pretty new and they have several great restaurants including a great Morimoto sushi spot on the beach. In Las Vegas, we still love the Bellagio, but sometimes stay at the Waldorf Astoria if we prefer quiet. I always thought I’d miss the energy and amenities of these places if I purchased something. Kathy and I also worried that we would feel forced to visit more often to justify the expense and maintenance. But COVID-19 changes things a bit.
I don’t think I will ever be the type of person who avoids hotels, but having a second home would be a nice thing to have right now. I don’t think I am alone. It really makes me think that people are going to value their homes even more coming out of the quarantine. Those who have the means could start looking for larger homes; others may be thinking about investing in some home improvement work and still others might be thinking about a second home, like me. I’m confident residential real estate valuation, especially in the most desirable cities, will see another spike in the coming years.
Regardless of political persuasion, most people think the rhetoric of politics has gotten out of control. If you believe that, as I do, there IS something you can do about it. You can ask yourself whether you are helping or hurting the situation. I like to say that there are two types of people in the world: people who add stress and people who relieve stress. I think similarly, some people are adding to the political spectacle in the country, and others are at least trying for something better.
Gary's Blog will return next week.
This past week, the National Association of Realtors invited me to participate in a meeting with the NAR leadership and Jonathan Kanter, the Assistant Attorney General of the United States.