Foreign Buyers Increasingly Attracted To Arizona Real Estate

Foreign buyers like to purchase property in the United States because they see the real estate market in areas like Phoenix, Arizona are stable. According to a study by the National Association of Realtors, the international sales of US homes is at the second highest it’s ever been in recent years. Owning property in the US is a significant investment. Foreigners are purchasing homes not only to live in them, but to rent out as well.







In the past five years, 70 percent of Realtors have stated that international clients have contacted them looking to potentially purchase a property. From April 2014 to March 2015, international buyers purchased $104 billion in American real estate.

Arizona is the third largest state for international sales. Florida and California are the top two. Texas and New York also sell a lot of homes to foreigners. These states make up 61 percent of international sales.

Arizona real estate is popular with foreigners because of the warm weather. There are some other factors as well. This includes the distance to their home country, if they have relatives already living there, and if there are opportunities for both jobs and education. Out of the 68 foreign countries that purchased homes in the USA, there are five the make the majority of purchased real estate. They are Canada, China, Mexico, India, and the United Kingdom. These countries make over half of all purchased real estate, with Canada and China leading the way.

Not all people from different countries like to make purchases in Arizona. Chinese buyers do not rank very high in the purchase of Arizona homes. Chinese buyers make the bulk of their purchases in California. They also like to make purchases in Washington State, New York, Massachusetts, Illinois, and New Jersey.

In the state of Arizona, Canadians make up 46 percent of the foreign home buying market. They are likely to purchase a home for a vacation use or as a rental property. They also are buying condos and apartments instead of single family home. Many Canadians are also purchasing homes in the state of Florida. They prefer the Sarasota and Venice areas as well as Palm Beach as opposed to Miami.

Realtors need to improve their skill sets when they work with foreign buyers. They need to have a global perspective of things and have experience working with those from a different culture. They need to learn different real estate practices to get along with others as well. The NAR will help realtors expanding their skills and work with those on an international level. A realtor can train to be a Certified International Property Specialist. Be sure to visit this association online to find out more information.

Reference - https://redhawkrealty.wordpress.com/2017/08/29/foreign-buyers-increasingly-attracted-to-arizona-real-estate/

About us - There are few industries as complicated as the real estate business, but there are also many opportunities available as well. Taking advantage of real estate opportunities is what Southwest Private Investments LLC was founded for. This company was founded by a staff with more than twenty-five years of experience in the business of private lending and joint ventures. Southwest Private Investments LLC participates in equity participation and purchasing of real estate properties in different markets. Southwest Private Investments LLC offers product types like land, multi-family, office, retail commercial, and residential development and home packages. Clem Anderson Arizona is the current president of Southwest Private Investments LLC.

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