More and more foreign buyers are coming to Florida for home ownership.
More than a quarter of Realtors, 28 percent, reported working with at least one international client in the past year.
Eighteen percent of all Realtors were estimated to have completed at least one international sale.Twelve percent last year.
$41 billion invested. $66 billion including recent immigrants and visa holders.
Low mortgage rates have fueled the increase in overseas sales in 39 states. Half the sales have come from four states in particular; Arizona, California, Florida and Texas. The majority of foreign buyers bought in the south; great for Florida's come back. The biggest percentage of purchases came from our northern neighbors and the second in line were south of the border. 66 percent bought a single-family home, compared to 23 percent buying a condo, 8 percent a townhouse and only 3 percent commercial property. 55 percent of the foreign purchases closed with cash money. Cash is king. It is very hard to receive financing on certain properties such as condos due to foreclosures that kill a home owners association.
With credit being an issue, Florida and the rest of the country will thrive with these cash heavy out of towners.
More than a quarter of Realtors, 28 percent, reported working with at least one international client in the past year.
Eighteen percent of all Realtors were estimated to have completed at least one international sale.Twelve percent last year.
$41 billion invested. $66 billion including recent immigrants and visa holders.
Low mortgage rates have fueled the increase in overseas sales in 39 states. Half the sales have come from four states in particular; Arizona, California, Florida and Texas. The majority of foreign buyers bought in the south; great for Florida's come back. The biggest percentage of purchases came from our northern neighbors and the second in line were south of the border. 66 percent bought a single-family home, compared to 23 percent buying a condo, 8 percent a townhouse and only 3 percent commercial property. 55 percent of the foreign purchases closed with cash money. Cash is king. It is very hard to receive financing on certain properties such as condos due to foreclosures that kill a home owners association.
With credit being an issue, Florida and the rest of the country will thrive with these cash heavy out of towners.
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