Jana Baldwin, Marlin Design and Construction, custom executive home builder of the Northwest Florida Panhandle, keeps up with the global home market, remarking that this is a great time to “Meet Our Global Neighbors” – Jana may be reached at (850) 545-7622 or by email at marlindesign@earthlink.net — Be sure to visit their website at www.marlindesignandconstruction.com for your custom home building needs, house plans and homes & lots for sale.
Realtors reach out to international buyers: It’s a great time for international clients to buy
WASHINGTON – April 14, 2008 – As the falling dollar makes the U.S. second-home market more attractive to international buyers, the National Association of Realtors® (NAR) joined with the Salon Immobiliario de Madrid (SIMA), Europe’s largest home and resort exposition, to educate potential buyers about U.S. real estate investment options.
More than 100,000 homes are sold to foreigners annually in the international second-home market, particularly to buyers from Europe, North and South America, Africa and the Middle East. Current valuations of the U.S. dollar against foreign currencies have made U.S. property one of the world’s great bargains, and the prestige of owning U.S. property remains high.
“This is our fifth year participating in the SIMA event, which draws investors from more than 50 countries,” says Miriam Lowe, NAR’s vice president of international affairs. “As the leading advocate for real estate in this country, NAR welcomes this opportunity to educate overseas buyers about the benefits of real estate investment in the United States.”
The Florida Association of Realtors, the Realtor Association of Greater Miami and the Beaches, and the Sarasota Association of Realtors joined NAR as sponsors of the SIMA trade show.
Vani Ungapen, FAR’s director of international & research, made a presentation to SIMA participants last week on Florida’s real estate market and that it is a great time to buy. “It was very well attended and the Europeans are still very interested in Florida,” she says. “This is FAR’s fourth time at SIMA and half of the attendees from the U.S. are from Florida.”
In a 2007 NAR study, 18 percent of all Realtors surveyed had at least one client involved in an international transaction in the previous year. An additional 14 percent had international prospects that had not yet completed a transaction. In Florida, the numbers were considerably higher; 65 percent of Realtors in the Sunshine State had foreign clients in the previous year.
“Fifteen percent of all Florida home sales now involve foreign purchasers,” says Lowe. “In part, this interest in the United States stems from the fact that more and more people in different nations recognize the value of owning real property, and our country represents one of the best and safest places to make such an investment.”
The SIMA international second-homes exposition took place April 8-12 in Madrid. The event attracted resort developers and second-home investors from around the world and featured more than 800 trade exhibitors.
© 2008 FLORIDA ASSOCIATION OF REALTORS
Tags: Global Housing Market, Marlin Design, Marlin Design and Construction, Northwest Florida Panhandle
