This is a good time for real estate professionals to expand their clientele with international buyers. Among the factors favorable for marketing to foreign buyers are:
- International buyers bought 154,000 homes and condos during the 12-month period ending in May, and they continue to be attracted to the weak dollar.
- The U.S. dollar has weakened significantly since June, dropping 9 to 11 percent against such foreign currencies as the Japanese yen, European euro and Canadian dollar.
- Both the U.S. economy and the U.S. housing market are showing signs of stabilizing.
- Nearly 46 percent of international home buyers paid cash for homes purchased.
- The median price that foreign home buyers paid for a home was nearly $80,000 more than the U.S. national median price.
Among International buyers, those from Brazil, Canada, France and the Netherlands have paid mostly cash for second homes. Those purchases, MSNBC.com reported, ranged from $6 million to $15 million in condo buildings.