The distressed real estate market in California is attracting more than just local investors. International real estate buyers, enticed by the bargains, are now adding California real estate to their portfolios.
The National Association of Realtors released data showing that international sales reached $82.4 billion in the year to March 31, up from $66.4 billion in 2011. That’s a really big difference!
CAPropertyFinder.com can personally attest to a rise in the number of international requests to view property this year versus 2011.
“Working with international clients comes with it’s own set of challenges,” said Paul Drecksler, one of the CAPropertyFinder.com’s co-founders, “but the benefits are proving fruitful for our Realtors.”
Foreign investors are often looking at homes above $1 million in list price. Typically, they come into America for a short period of time to view a handful of homes and don’t leave without making one or several offers. Additionally, in our experience, foreign investors are working with cash, which can help us draft an attractive offer to purchase.
We mentioned last week in our post about rapidly improving markets that the foreign investment from other countries is helping to contribute to the growth in many key markets in Southern California. This influx of foreign buyers, in addition to the increase in domestic buyers and inventory shortages are pushing real estate markets into overdrive.
Don’t miss out on the opportunity to buy while prices are still low. Contact CAPropertyFinder.com today to speak to one of our expert real estate professionals who can help put you into your new home before prices rise higher!
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