Invasion of the Housing Snatchers!real estate may be cooling for us domestics, but when you mix falling home prices and the weak dollar, you are bound to attract foreigners who know a deal when they see one.
Foreign buyers love the weakened dollar and lower pricing. But it is taking the Realtors awhile to get the opportunity. Only one in five, or 18% of agents surveyed by the National Association of REALTORS® last year said they sold homes to international clients between April 2006 and April 2007.
Foreign buyers also seem more optimistic about the long-term health of the U.S. market, says David Michonski, a certified international property specialist and chief executive of Coldwell Banker Hunt Kennedy in New York. "The foreign buyer has an unbridled confidence in the U.S. market that is lacking in the domestic purchaser today. They view this as the bargain of a lifetime and are terribly excited about it," he said. (The Wall Street Journal)
Foreign buyers love the weakened dollar and lower pricing. But it is taking the Realtors awhile to get the opportunity. Only one in five, or 18% of agents surveyed by the National Association of REALTORS® last year said they sold homes to international clients between April 2006 and April 2007.
Foreign buyers also seem more optimistic about the long-term health of the U.S. market, says David Michonski, a certified international property specialist and chief executive of Coldwell Banker Hunt Kennedy in New York. "The foreign buyer has an unbridled confidence in the U.S. market that is lacking in the domestic purchaser today. They view this as the bargain of a lifetime and are terribly excited about it," he said. (The Wall Street Journal)
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