All Posts tagged foreign investors

Foreign Buyers are snapping up La Quinta and Palm Springs real estate

By Kimberley Kelly 12 Mar, 2012 Buyers, Canada News, La Quinta, Market Reports, Palm Springs foreign investors, la quinta real estate, market reports

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who wouldn't want to own in La Quinta???

I am working with Investors, or Investment groups from Australia, the UK, New Zealand, Canada and France..and that’s just in the first quarter of 2012.  Our Real Estate market is benefitting from foreign buyers belief that the US is the best place in the world to park their money.  These buyers are helping reduce our inventory and get the housing market back in balance again..come on down!

Foreign clients bought 41 billion worth of stateside houses and apartments during teh 12 month period that ended in March of 2011, according to the NAR.  Pretty much the same as last year..BUT add in the $41 billion spent by immigrants who moved here within the past two years and people with visas for longer than 6 months and the total is $82 billion..up from $66 billion just a year ago.

Realtor.com is nov visible  internationally and can be viewed from practically anywhere in the world..and in 12 languages.  Wow!  Talk about checking out real estate while in the comfort of your own home.  What states are they buying in????

1.  Florida- nearly 55% of all international sales from May to November, 2011 were in Florida.

2.  California-appprox. 6% in California

3.  Nevada-5 % of all foreign sales were here.

4.  Arizona-17% of foreign investor sales were in AZ

Why in these states?  Because these states have the most standing inventory!  The glut of homes in these 4 states is still considerable and therefore the price/sf is the best buy..more for your international money!  It’s not ALL about investment.  It’s also about buying a home in a country where you want to live..even if it’s only part time.