Finding and then starting a successful short-term rental (STR) in the Poconos involves careful planning and execution. Poconos is a nice vacation spot, conveniently located in a mountain market, three hours away from 47 million people. Poconos has year-round attractions, it a great last-minute option for those that want to get away for a weekend or longer. Our market has some unique features, like local...
Real Estate
The seller’s market may be over, and a balanced market may finally be here in the Poconos Vacation Home Market. The economic data of the nation’s economy points us to a “soft landing” as interest rates are declining ahead of what is predicted to be official cuts and the rapidly escalating home prices have plateaued. In some sections of the Poconos, final home prices may have even dropped some as...
Here some insight on the vacation home rental market and investment outlook for short-term rental properties in the Poconos for 2024. Overall Poconos home sales are down, home sale prices seem stable, total rental income is down slightly, and rental stays (nights booked) are holding steady. When it comes to homes for sale, we are seeing a bifurcated market with some homes selling in 5 days, and others...
I am a realtor who specializes on helping people find vacation homes that they can use as a short-term rental. My clients range from young first-time real-estate buyers all the way to sophisticated investors who have large portfolios of income properties and support staff to guide their decisions. Often, I am asked to provide my opinions as to the state of the market and where I see things headed. With...
I get a lot of inquiries from people who have heard about the Poconos, but who have never been here. They understand that Poconos has a reputation as a vacation area, but are unsure of the draws, so here’s my spin. The Pocono Mountain region is famous as a vacation getaway with its natural scenic beauty, lakes rivers and activities. It can be peaceful, romantic or exhilarating. The...
Here’s my insight on the vacation home investment market in the Poconos, for early 2023. Inventory is tight, prices are creeping higher and there are more Airbnb listings in the Poconos than ever before. That said, the tourism industry in the Poconos is thriving, visitors keep coming in record numbers and the future looks bring, especially for those operating high-end properties. The regulatory...
An Insider’s look at investing in vacation homes in the Lake Harmony Area The Lake Harmony area has long been a popular Pocono vacation spot and for those who rent their properties, business over the past few years has been very good. The Lake Harmony area benefits from two nice lakes, two ski resorts, two golf courses, some nice restaurants, and a beautiful setting year-round. The Lake Harmony area is...
As a realtor who specializes in helping folks find vacation homes, I’ve gotten a lot of questions about the business of vacation home rentals. Here are some thoughts about the business of vacation home rentals. Are vacation home rentals in the Poconos a new thing? First, some history: much of what is referred to the as the Poconos was started in the 1960s and 70s when families started getting second...
I spend a lot of time with customers who have big visions of success in the short-term rental business and they often ask me questions about a property’s ability to generate profit. Many have use data tools like PriceLabs or AirDNA to help them understand the market and the opportunities that currently exist there. They tell me they’ve run the numbers and then ask me what I think. My...
The end of the third quarter is a time of significant transition in the vacation home market in the Poconos. The busy summer vacation season has wrapped up, and for some it is time to look at their position and perhaps make some changes. As a realtor focused on helping buyers find vacation homes they can also use as a STR, I keep an eye on the market and help identify trends that can help...