FOREIGN REAL ESTATE BUYERS

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Here in Silicon Valley were hearing a great deal about the Asian Buyers who are fueling the crazy boom market now in full force.
Every new listing is selling with multiple offers within day of hitting the MLS, and often not even getting to the MLS.
Buyers with less than 20% down payment have very little chance of even getting their offers considered, much less accepted.
While this is true it’s not accurate to suggest that any one ethnic group is driving this situation.
If we just consider the 2 States where most outside money is driving the market we find some interesting statistics:
o. 26% of all sales involving out of the country Buyers are happening in Florida.
o. 11% are in California.
o. In both cases 24% of such sales are coming from Canada.
o. 11% are from China.

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One Response to “FOREIGN REAL ESTATE BUYERS”

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