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...
Real Estate
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 AreaThe 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...
As a realtor, focused on helping buyers find vacation homes they can also use as STR, I keep an eye on the market and help identify trends that can help my clients. As one measure of the health of the market for vacation homes in the Poconos, I tag communities as STR-friendly (indicated with a green light) and keep a tally of available homes in these communities. At the end of July 2021, there were just...
The Poconos have been a popular vacation destination for generations. Vacation communities continue to be built for second homes and investment properties and the practice of renting them for short periods is as old as the manmade lakes which were built around. The rental business has surged in recent years with the rise of booking platforms like VRBO and Airbnb which have put additional...
Stocks market indexes are trading at record high levels, bond markets are strong, and the price of real estate continues to leap upward. Rarely (if ever) have all three of these investment areas risen so sharply in unison. With the ability for many to work remotely or build a business from home, the demand to move out of urban areas has become much more than just a reaction to the...
Is it legal?The Poconos are well known for vacationing and recreation. Tourist revenue in the Pocono region (defined as Carbon, Monroe, Pike and Wayne counties) has been the main economic engine in the region and the area is responsible for approximately 1/3 of the state’s hotel tax revenue. In Pennsylvania, like other states, short-term rentals are taxed just like hotels. If you operate a short-term...