In a published article from MarketWatch, the National Association of Realtors reports second home sales were down in 2007. This suggests a growing inventory of second homes on the market. Competition for buyers can severely affect the sale price and buyers know there are deals to be found.

As a homeowner with a property for sale, now is the time to think about renting your second home until the market adjusts. Short or long term rentals can generate a surprising amount of income to offset insurance, mortgage and maintenance bills. Be sure to check your local laws and regulations regarding rental properties.