BluefoxToday blog : Foreign real estate buyers like what they see

Foreign real estate buyers like what they see

 Nowadays, there's very little to write home about the overall U.S. housing market. True, some areas, including the metropolitan Las Vegas, are showing cautious signs of the slump being at or near the bottom, which is very encouraging. Yet, the recovery to a healthy environment will likely be slow and long and probably infested with a few more bumps. 

 While the mood here can understandably be fluid, those in Europe and Asia and other far-flung places looking in are seeing a great opportunity. The reasons to that are pretty obvious. Domestic real estate prices have taken a beating in many popular destinations like Florida, California and Las Vegas, so simply put there is great value to be had. To many foreign buyers it's like a one grand sale event and they want to take advantage of it while it lasts.

 The U.S. dollar has also seen better days, much better in fact, giving the international investor another incentive to come over and acquire property that a few years ago was clearly out of his reach. Many of them understand how markets work and now two, not just one, key elements here, real estate and currency, are down and this kind of opportunity may not happen again in a long while. As an added bonus, mortgage money continues to be very affordable and widely available with a decent down payment. To the savvy investor from abroad, all the lights should be showing green.

 Moreover, in the global family, the U.S. as a marketplace is still viewed as the venue to go to for opportunity and long-term economic health. Nevertheless, it admittedly does get spanked hard every so often for indiscretions, like right now, but time and again it has proven strong bounce-back ability. What comes with that is the confidence factor and it plays a large role in all of this.

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Provided by: 

Esko Kiuru
Mortgage, real estate and apartment industry analyst 

www.BluefoxToday.com - syndicated mortgage, housing and property management blog

eskokiuru@gmail.com
My cell: 702-499-1006

Comment balloon 4 commentsEsko Kiuru • May 27 2008 10:39PM

Comments

Esko this is a great time to buy if you have the money, whether your a Foreign buyer or not.  These oportunities do not come along very often.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 11 years ago

George,

It's a great window of opportunity right now, yet it'll be around for a limited time only.

Posted by Esko Kiuru about 11 years ago

I'm in Florida and this area is pretty popular with foreign buyers. Its actually picking up with buyers period, glad to see things finally starting to look up. How is it in Vegas?

Posted by Sherry Laursen, MAKING YOUR REAL ESTATE DREAMS A REALITY (Remax Premier Group) about 11 years ago

Sherry,

Good to hear positive news from there. Vegas is starting to stir up, too, although our inventory is still pretty high.

Posted by Esko Kiuru about 11 years ago

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