International home buyers are eager to invest in the United
States and may be willing to pay top dollar for your property. Foreign
investment in US residential real estate hit a new high this year, driven by an
increase in sales dollar volume from Canadian buyers, according to a new survey
by The National Association of Realtors. Foreign buyers and recent immigrants
bought $153 billion of residential property, which represents a 49% jump from
last year.
International buyers who live outside the United States
invested more than$153 billion of residential property, which represents a 49%
jump from last year. A recent survey
reveals that China is still No. 1 in terms of sales dollar volume, but the
overall boost in activity came from Canadian buyers. Transactions from
Canadians this year more than doubled from last year, reaching $19 billion – a
new high for Canada. Canadians are finding that US markets though expensive are
actually more affordable than in their home country. Though home prices have
been steadily rising, gains across Canada have been steeper, especially in
Vancouver and Toronto.
Make your home or condo appealing to foreign buyers, you
have to do a little more than hire the average real estate agent. Align
yourself with a broker who has ties with foreign buyers. Ask brokers if they
have the ability to place advertising in other countries and if they will have
a website dedicated to the property with a virtual tour. Agents who specialize
in working with foreign buyers normally list the property on websites that
market homes for sale globally and nationally. Even if the property is listed
only on Realtor.com, make sure there’s enough information and pictures on the
listing to attract international buyers. Foreign buyers are looking for great
pictures and videos of the property because most of the time they’re not here
to physically see them. It is crucial to have your property listed for sale
online with multiple photos and videos of the home and the neighborhood and or
the complex. Prepare your home or condo for selling. First impressions count
for everything. Pay attention to details, complete maintenance on your
property, and declutter as much as possible.
There is a myth that foreign buyers will just come in with
cash and pay more than what the property is worth, but that’s not true. They
look for a bargain, like everyone else, and they look for properties that are
easily rentable, in desirable areas, with high rates of return. If you’re after a quick sale, be prepared to
get engaged and be proactive.
No comments:
Post a Comment