International real estate purchases in the U.S. continue to be a significant share of business for many Realtors. International buying activity in the U.S. is widespread. NAR estimates that between 150,000 and 190,000 homes were sold to foreign nationals from May 2007 to May 2008. Recent foreign buyers purchased properties in the most popular states like Florida, California and Texas. Arizona, New York, Washington and Nevada were also popular.
Florida has an outburst of russian investors buying the area of the beaches, Aventura and Surfside. Besides the money chage will benefit them and mutually us to reduce our 13 months supply-inventary.
The typical international buyer purchased a single-family vacation home costing around $297,000. Four in 10 paid for their U.S. property with cash, compared with 7% for all of our domestic buyers. The typical international owner stayed at his or her U.S. property for over 2 months during the year.
Foreign exchange rates have helped them make U.S. homes more affordable . The euro has strengthened 24 percent versus the U.S. dollar over the past two years. Home prices are also now more affordable in places such as Florida and Arizona due to the real estate drastic change.
Since the inventory is large enough and interest rates are low the international buyers recognize that real estate is an excellent investment and can be duplicated in a couple of years.
Using your ClustrMaps you can track your international buyers- so far I received three leads from abroad, one from Italy, other from Honduras and the last from Russia ( last two were cash buyers).
Inmigration issues sometimes worries them and they are not easily determined to finalize the transaction. Be ready to have your own team of Inmigration Attorneys and Tax Consultants. It's worth it!
How to try the international market:
Google and explore many opportunites to list for free in Europe and Russia, Russian Impact list your name and services for free, gold packages available at additional money.
Use INMOBEL it translates your page in 13 languages- Links can be added to your webpage
Have your own team of translators: co-workers realtors that speak foreing languages and engage in a split commission transaction - otherwise you will need to pay high hour fess for a translator.
If you are interested in exposing your listings in Europe please visit at www.europroads.com .
