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Californian property ^[2] has gained a renewed worldwide dream appeal for overseas investors since the slump of the U.S. dollar has given them more buying power. While local American interest has stalled, mainly due to slumping property prices and the fall of the U.S. dollar, overseas investors are snapping up properties in California as if they were the latest fashion.

This latest trend has prompted many local Californian Realtors to switch advertising tactics and target foreigners instead. Buyers from countries such as Spain, Russia, the Netherlands, the Philippines, Brazil, China ^[3], Italy and Mexico have especially been active in acquiring their dream property in California.

The dream of sand, sea and eternal sunshine lures investors to take advantage of the great conversions while the going is good.

Realtors have resorted to some active promotions, such as refunding travel expenses to investors who buy locally. Others offer multilingual translations on their websites to allow for wider distribution of their property ads.

Overseas agents get spotters fees

This new trend also allows overseas real estate agents to cash in by referring their clientèle to a Californian agent instead. Some pay 25% of their own share of the commission while others pay the full amount to attract even more referrals.

For agents who are switched on, this proposes huge opportunities for hardly any work.

Is California the new Atlantis?

If paradise was half as nice… and California dreaming were popular songs way back in the 60s. Favored by the baby boomer generation, these songs have made it into the charts of yesteryear. Now some 40 years later the same generation is making true on their early fascination with a life in the sunshine and investing their lifetime savings into the Californian property market.

Nearly a third of all overseas investors pay cash for their dream home and it is clear that this trend won’t disappear fast judging by the source ^[4] of this article.

Overseas investors can also take advantage of many local lenders who offer any type of loan to them. The combination of easy cash, great conversions, low prices and a lifestyle in the sun makes for an attractive property package for many overseas residents who dream of a life in warmer regions.