Opportunists are seeing a light at the end of the country’s real estate slump tunnel. These past weeks, there’s been a surge of foreign investors tackling the real estate market through great bargains.
Namely British investors taking advantage of price decrease and the weak dollar to put their sterling to good use.
Some British investors are organizing their currency and patiently waiting/hoping the market to hit the bottom of the barrel by new year’s.
Another opportunity serving foreign investors well, is repossessions. Through “short sales” investors buy a property deeply discounted with the agreement of the mortgage lender.
In such, some profitable markets are Orlando, attracting many foreigners thanks to its theme parks, and Miami who’s over-supply in developments has forced the prices to go down.
But despite the gloomy days in the U.S.’ overall real estate market, some markets, such as Manhattan, remain very strong and profitable.
Via The Independent