Sarasota Experience . com » International Real Estate

The British Economic Recovery

Perry Corneau — Tue, 26 Jan 2010 14:38:38 +0000

: St Paul Rainbow2 from Crestock Stock Photos

The economy in the United Kingdom is showing modest signs of growth. The fourth quarter of 2009 posted a .1% rate of growth compared to a 3.2 percent decline in 2008. This is a small rate of growth but it is a still growth and far better than the continued decline. This is good news for us here in Florida. If this trend is continued in 2010 we should see an increase in British real estate buyers in are market. Interest in Florida real estate runs high among U.K. residents. Of all the nations, I receive for web-site visits from the U.K. than any other country with the exception of Canada.

Declining Dollar Draws Foreign Investors

Perry Corneau — Wed, 02 Dec 2009 20:19:04 +0000

MSNBC recently quoted Arthur Wong who runs a Canadian based U.S. Real Estate fund as saying, “This could be a once-in-a-generation opportunity for real estate investment.” The artilce went on to state that Buyers from countries like Brazil, France, and the Netherlands with strong currencies are spending millions on condominiums in Florida, New York and Las Vegas.

Foreign Investment in Florida.

Perry Corneau — Wed, 25 Nov 2009 15:03:17 +0000

“As part of our global asset allocation, we are targeting Florida as one of the areas with the most potential to recover value on the residential side,” said Shlomo Cohen, vice president of real estate for Dizengoff-Trading Group which just completed the purchase of 115 condo units in Palm Beach. The same Isreali based company completed the purchase of 118 condos in Jensen Beach in September.

The weak dollar and market which by many accounts has reached bottom is fueling a flurry of investment is Florida. I see many great deals here in our Sarasota/Bradenton market and are working on many purchases with foreign investors. Now is the time to back into the market.

German Real Estate Buyers

Perry Corneau — Fri, 23 Oct 2009 20:37:54 +0000

We may soon see an increase in the number of real estate purchases from German buyers. The Ifo institute in Munich reports that a survey of 7,000 business executives indicates a rise the German business climate index which now stands at 91.9. The index, up from 91.3 is now at it’s highest since last September. The German government is predicting economic growth of 1.2 percent in 2010. With economies improving in Germany and our weak dollar we are sure to see more Germans in Florida this season.

Mortage Rates Near Lowest

Perry Corneau — Fri, 09 Oct 2009 15:46:57 +0000

The thirty year fixed-rate mortgages have dipped to nearly the lowest level on record. The fixed-rate is currently at 4.87 percent which is just above the record low of 4.82 percent. Similarly, the 15 year rates is now at 4.33 percent. Rates like these should encourage many to enter the market. International buyers should be intrigued by low prices, low rates and our weak dollar.

The British Are Comming!

Perry Corneau — Wed, 09 Sep 2009 12:39:45 +0000

Consumer confidence is up in the UK. The rating is now at the highest levels seen in the past three years. Also the legislature there has pledged to limit public spending as their economy improves. The British are known for a much higher savings rate than Americans and are generally in a better position to purchase properties at times like these. I recently sold a golf course condo to a British couple who paid cash. They tell me that many of thier countryman will be making investments here as their economy rebounds.

Heritage Oaks Condominium – Pending

Perry Corneau — Fri, 04 Sep 2009 20:53:38 +0000

Today one of our listings at Heritage Oaks Golf & Country Club went under contract. The cash buyer comes from the U.K. and as with all of our European clients we will monitor the exchange rates to help them determine the best time to transfer funds to complete the transaction. The exchange rate was at 1.64 this afternoon. Golf condominiums like this are excellent choices for Europeans that holiday in the summer as they can rent the properties for peak winter season rates to Americans and enjoy the off season time for their traditional summer holiday. You can click here to see details about this property.

German Real Estate Buyers

Perry Corneau — Wed, 26 Aug 2009 14:31:26 +0000

We may soon see an increase in buyers from Germany. Recent economic reports in Germany indicate that their recession is coming to an end. With things looking up more Germans will have the confidence to take advantage of great deals in our Florida real estate markets. We are using our large Internet presence to capture foreign buyers.

Foreign Exchange and International Real Estate

Perry Corneau — Thu, 06 Aug 2009 03:07:54 +0000

Today, I had the opportunity to speak with Jordan Tilley of Money Corp, a company that has served the needs of international clients by providing very attractive rates in monetary exchange since 1979. With Money Corp., international buyers can lock in their rate of exchange prior to completion of an international real estate transaction. This eliminates the possibility of risk due to declining rates of exchange. International buyers can even lock in their rate of exchange for each of the first 24 monthly mortgage payments after a purchase is made. Give us a call at 941-650-4626 for more information how we can help you make the most of your money in your next international real estate transaction.

Click here for more information and current currency exchange rates.

British Real Estate Purchasers

Perry Corneau — Fri, 15 May 2009 11:01:49 +0000

Over the past few years our real estate market has been bouyed by international purchasers with strong currencies. This trend has moderated as foreign markets have also experienced market declines. With current statistic pointing to a slowing in the rate of reductions in UK home values we may soon see an increased interest among British buyers with improving confidence in their domestic housing market. Home prices in the UK fell 6.4% in each of the last three months of 2008. In the first three months of 2009 values fell an average of 3.8%. Additional good news in UK comes from a slowdown in falling manufacturing output which saw a decline of only 0.1% in March, the smallest monthly decline in the past 13 months.