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U.S. Is Gobbled Up By Foreign Buyers
Posted By OP-Mall On April 24, 2008 @ 1:05 pm In United States Property | 3 Comments
Foreign buyers are eating U.S. property for dinner lashed with plenty of sauce. Ok, that was a rather weak approach at injecting some excitement into the fact that American real estate agents are pimping out bonuses to overseas buyers.
Extras such as airfare reimbursements and paid hotel bills could well become a reality for you if you are amongst those overseas buyers who have taken advantage of the dwindling economy in America. [2]
Right now we enter a buyers market – if only there are buyers with enough cash flow to play the game. To boost local economy, some real estate agents have taken matters into their own hand and lure buyers from across the pond by giving them the royal treatment.
The strong Euro compared to low dollar makes buying property in the States a favourable past time for many now. Kind of like going out for coffee with a friend. Ok, maybe not quite like that but we are sure you get the drift.
Some New York agents have reported a massive increase [3] of overseas sales in the last year, rising from 10 percent to near 25 percent.
Some agents employ staff for the simple purpose of translation to serve overseas clients. Languages such as Farsi, Arabic, Dutch, Italian, French and more are offered as an extra to endorse those from other tongues.
Heavy overseas advertising campaigns are also on the up, making it very hard for investors to ignore the vast opportunities that present itself right now.
As usual, when markets crash, there are always those who are set to make a fortune and this isn’t any different in the real estate market. While those who are close to their financial edge suffer, others with plenty of cashflow laugh.
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URL to article: http://www.overseaspropertymall.com/regions/north-american-property/united-states-property/us-is-gobbled-up-by-foreign-buyers/
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[1] Image: http://www.flickr.com/photos/sookie/89768474/
[2] dwindling economy in America.: http://www.overseaspropertymall.com/trends/the-big-global-bubble-has-burst/
[3] massive increase: http://www.usatoday.com/money/economy/housing/2008-04-23-home-buyers-foreign_N.htm
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