Foreign Buyers, A Great Target for High End Properties in
the USA
According
to the National Association of Realtors, more than $82 billion of homes were
sold to international buyers in the 12-month period ending in March 2012.
Buyers from China and Hong Kong alone accounted for $9 billion in U.S. home
sales during that same time period, which doesn’t include the large number of
private sales transactions not officially reported. Zillow.com stated that foreigners it was a
24% increase from 2011.
FOOD
FOR THOUGHT: Foreign investors mostly from
China have been buying up real estate in the US in a major way the past few
years. Foreign investment contributed to 3% of all real estate investment in just
the month of Sept 2011.
“VISAS FOR VERANDAS” was a bill
that a group of senators introduced to congress (2011) in aims to entice
foreign buyers to snatch up homes in the US by offering them US residential
visas in exchange. The bill proposes that foreign buyers who buy a property in
the US at least worth $500,000 would be eligible for a new residential (but
non-immigrant) category of visa.
Some quick facts: What’s in this bill?
The
proposed visa is not a work visa. So the foreign home buyer is not
entitled to work while residing in the US.
The
buyer has to live in the house for 6 months out of every year. This means they
will be in the US and not working for 6 months at least. This also means you
cannot rent out the primary place.
The
buyer’s dependents are also eligible for the visa.
The
proposed visa is valid only till they continue to own the house.
The
house must be bought for at least $250K and total investment must be at least
$500K.
The
home purchase has to be made in cash – with no bank loans.
In
a nutshell, the foreign buyer must be able to put down $500K cash in the US housing
market. The US hopes that a substantial amount of foreign buyers would be eagerly
interested in this offer and that they would start buying property, everything
from commercial property, land, houses, condos, even short sale properties and
foreclosed homes.
There
is already the EB-5 Green Card category that enables foreigners to invest
$500,000 in the US ($250K in certain areas) in exchange for a Green card. The
EB5 gives you instant access to permanent residency, allows you to work in the
US and does not restrict you to living in the place where you invest. The EB5
is a much better alternative for people who have $500K at their disposal to do
a down payment.
So
if you have listed a high-end property that is unique and picturesque, it more
than likely would appeal to these international affluent buyers. Some realtors don’t consider the valuable
asset marketing internationally has to offer their business. Having an international internet web presence
as well as applying to Travel, Residential and Architectural magazines to be
featured could greatly assist you in breaking the curse that most high end
properties have in America…Most sit on the market anywhere from six to 12
months because they don’t receive proper marketing and advertising. Small minds = no results. You have to think big and go big to get the
big fat commissions.
Our
company is working towards implementing marketing strategies that will get our
property listings more exposure on the international real estate market. We strives
for perfection daily. Although we know perfect isn’t always possible, we refuse
to settle for adequate and intend on moving towards innovative techniques that
will increase our visibility globally.
Louisiana happens to be the little southern state with a lot of
appeal. Because of Louisiana’s
historical ties to both France and Spain, we have cultivated a diverse
population and the sense of intrigue to other cultures. The festivals, the food, the music popularity
are all appealing to those from other countries.
Right
now in our little corner of Louisiana, Denham Springs and surrounding areas
have a lot to offer international buyers.
We have the most affordable picturesque and the most appealing home
designs than (I believe) anywhere else in the world. New Construction homes in Livingston Parish
that range from $400k on up can truly give you a lot of bang for your
buck. You can easily find a moderately
sized mansion for under a million dollars.
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