InfoNovember 13, 2013 · Real Estate
International Buyers Still Active in San Diego Real Estate Market
Despite the current global economic picture, the purchase of luxury real estate in the San Diego is still strong.Press Release VideoLoading the player...Details(prREACH)
The National Association of Realtors data affirms this position, with annual sales to international buyers showing an increase, up to 6% of all home sales in 2012-2013 totaling 68 billion. The two largest buyers of US real estate have been Canada and China. Escalating prices and availability in foreign markets, coupled with the flexible purchasing options, make US real estate very desirable.
Foreign National buyers in Southern California are by no means a recent phenomenon, what has change is the availability of affordable financing programs. After the sub-prime lending crisis the only option for a foreign buyer looking in the US was hard money, that came with much higher interest rates and rigid underwriting guidelines. In the last 12 months the Foreign National market has opened up as many national banks like HSBC, US Bank and BBVA Compass now offer loan programs that require as little as 30% down payment.
The internet has changed the way international buyers search for property. At the center of this experience, SothebysRealty.COM attracts more consumers to search, view and inquire than any other luxury real estate website, with more than 45% of its visitors coming from outside the US. This is largely due to the ability for buyers to search though more than 35,000 properties and view the property information in multiple languages and currencies all in one location.
Anderson feels there is still plenty of opportunity to purchase your own American Dream!LinksQuotesIn a recent Forbes article titled; Foreign Buyers Market Has Slowed, But It's Still Very Hot, luxury Realtor Amber Anderson of La Jolla was quoted saying " my international buyers are here looking for that second or third house. Most places in the world you can't buy property like you can here. You can find a house on a bluff in La Jolla and whether your from Switzerland or China you can buy it"ImagesContact
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