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2 weeks ago

Foreign Buyers Increase Purchases Of US Residential Property

If you think that all real estate, like politics, is local, think again. Foreign buyers are increasing their purchases of properties in the United States. Between April 1, 2009 and March 31, 2010, they spent over $66 billion on residential property in the US, or 7% of the market.



Foreign buyers include people who reside outside the United States, recent immigrants, and temporary visa holders.

The most recent information on international purchases in the United States housing market from the National Association of Realtors shows that just four states account for over half of the sales.

Florida, with 22% of the sales, and Arizona (11%), have been the top two markets for foreign real estate buyers for the past several years. California moved into the second spot in 2010 with 12% of the transactions, while Texas (7%) saw a slight drop in sales compared to the previous year.

Canadians accounted for 28% of US home sales to foreign buyers in 2010, followed by Mexico (10%), the United Kingdom (10%), and China/Hong Kong (8%).

Foreign buyers tend to make their purchases in areas that are most convenient to their home countries. International clients in Florida are usually European, Canadian and South American, while the East Coast draws Europeans. Mexicans tend to buy homes in the Southwest, and Asians purchase residences on the West Coast.

Why does it make good business sense for a realtor to market to these buyers?

A survey conducted by the National Association of Realtors found that 55% of foreign buyers paid cash in 2009. While lending is still tight for many people interested in purchasing a home, international clients may not need a mortgage at all. In Florida, over 80% of international buyers paid in cash.

Many foreign buyers in Florida make their check these guys out purchases quickly and sight unseen. They are looking for a return on their investment so they may buy multiple properties to rent out.

Two thirds of the residences purchased by foreign buyers were detached, single family homes. Targeting a new demographic may be a competitive advantage in markets where sales of single family homes are slow.



On Realtor.com, website traffic from outside the US increased by more than 50% over the past two years. New features are being added to the website, including translation services, to help foreign buyers find real estate. It also plans to add index non-US listings to the site.

2 weeks ago

AT&T's next 5G trial will shoot DirecTV Now to users' homes

AT&T's next 5G trial will shoot DirecTV Now to users' homes | PCWorld

5G conjures up visions of super-fast smartphone service, but it could give consumers and enterprises a lot more. In the next few months, some residents of Austin, Texas, will get to watch DirecTV Now at home using a form of the still-emerging wireless technology.

AT&T plans to start a trial of that service in the first half of this year. Instead of the cutting-edge mobile networks that are expected to beam multi-gigabit service to moving phones, it will use a fixed wireless network built on pre-standard 5G technology to reach users' homes.

DirecTV Now is AT&T's streaming video service for consumers who

3 weeks ago

California Tackles the New DUI – Marijuana and Prescription Drugs

SACRAMENTO, Calif.--(BUSINESS WIRE)--Every driver knows that alcohol-impaired, or "drunk", driving is

dangerous and has steep consequences. Drunk driving killed 1,155 people

on California roadways in 2014 alone. What individuals may not know, is

that they can get a DUI, with all the same consequences, for driving

under the influence of drugs, also known as a DUI-D. A new educational

campaign from the California Office of Traffic Safety (OTS), "DUI

Doesn't Just Mean Booze," is aiming to bring greater awareness of this

growing problem.

4 weeks ago

Home and Garden | Home Improvement and Decorating Tips

C.M. Chartier Contracting

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1 month ago

Winnebago's high-tech 2013 Via RV

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Via 25T floorplan

1 month ago

Jan De Nul Tests EnerBurn Diesel Fuel Catalyst

STAFFORD, Texas--(BUSINESS WIRE)--EnerGreen Technologies Ltd., a European distributor for EnerTeck (OTC:

ETCK) and EnerTeck Chemical, today announced that the Jan de Nul Group,

a Luxembourg-based operator of one of the world's largest marine

engineering and dredging fleets, has launched an evaluation of the

company's flagship product, EnerBurn

1 month ago

Top 7 Worst States for Divorce

Divorce can take an emotional toll on a family, but best site the filing and legal process can add another headache in these seven states.

Divorce attorney Bruce Provda said these seven states have among the most expensive filing fees and extensive waiting periods. He also has found these states' length of residency requirements and minimum separation periods are particularly stringent.

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Provda said he used data from the U.S. Census