Bob Waun was the guest speaker at the Resort and Second Home Market Forum at the NAR Annual Convention in New Orleans in November 2010.
Bob Waun, managing director of Americor Mortgage/Vacation Finance and a board member of the Condo Coalition, an advocacy group for homeowners associations, said financing — not demand — is the reason vacation property sales are in the doldrums.
Read more at http://www.inman.com/buyers-sellers/columnists/tomkelly/the-truth-behind-second-home-slowdown
My experience working in a second home market has been the opposite. Second home sales have been slowed by economic uncertainty, not lack of lending. In 2011, every transaction my team has been involved with has involved at least one cash buyer. Those who choose to get a loan have had some hiccups with underwriting, but I haven’t seen any loans turned down.