Foreign Buyers Taking Full Advantage Of Florida "Fire Sale"

We are seeing a strong trend by foreign nationals (who would normally be investing in the US Stock Exchange) to choose real estate in this crippling market in which to place their cash. Many plan to rent the properties, then wait out the market until the economy turns around. Properties that were selling in the high $600,000 to $800,000 range are turning up in the mid to low $300,000 range and this class of investors are poised to take full advantage.

According to Associated Press, "For the international investor class, the United States’ bloated inventory of homes, high unemployment and weak currency make for an unusually attractive buyer’s market." As realtors, we see these deals come along that are simply jaw-dropping! With financing difficult to get in our current environment, the all-cash deal definitely makes for a strong offer. This is a major reason why The PURTEE Team got their recent certification as RSPS (Resort & Second Home Property Specialist). This certification covers a foreign national real estate transaction in purchasing an investment or second home from the initial search through the entire purchase. In addition, we have a Transnational Referral Certification specializing in working closely with clients of realtors from other countries. We believe so strongly in the importance of this trend that we are also actively involved in www.WorldProperties.com