Florida Tops The Country For Foreign Homebuyers

With home prices decreasing in the Florida real estate market and the decline in the U.S. dollar worldwide, many foreign buyers and investors are purchasing Florida properties at bargain prices. Florida is the # 1 state for foreign home purchases in the entire United States! The top list of international countries purchasing U.S. properties are the United Kingdom, Canada, Mexico, China, and India.

A recent National Association of Realtors (NAR) study has found that 65% of Florida Realtors have at least one international client. NAR also concluded in their “Profile Of International Home Buying Activity” report that at least 7% of Florida home sales were from foreign buyers.

Bankers Foreclosures has seen a dramatic increase in foreign buyers & investors purchasing second homes and investment properties in the South Florida market. Many of our international buyers are requesting detailed South Florida market analysis and neighborhood information on REO properties. Many of our international buyers, especially from the United Kingdom and now Canada, are using their strong currencies to purchase many South Florida bank owned foreclosures at extremely discounted prices.

Also, many banks and lending institutions are accepting offers by international buyers, because the contracts are not subject to financing. Approximately 28% of international buyers are paying cash for Florida investment properties. Only 8% of all home purchases by U.S. buyers were cash contracts in 2006.

Another eye-opening statistic is that the median home price that foreign buyers purchased was between $299,500, which is significantly higher than the national median sales price of $221,900.

The American dream of home ownership in the United States is spanning out to international buyers, and Florida is leading the way! Our international buyers can navigate www.BankersForeclosures.com to view the entire inventory of South Florida Bank Owned REO foreclosures and to learn more about the foreclosure process on our resource pages. With our direct relationship with many banks and financial institutions, our team can assist both international, national, and local buyers purchase South Florida bank-owned foreclosure properties at bargain prices. Click Contact Us to contact a representative today!