July 14, 2008
Seattle Real Estate Lures Foreign Investors
Few Americans are currently in the market for new digs. Dismal financial figures, soaring gas prices, and tightening lending standards have most Americans wary of buying even a double-tall latte these days, let alone a new home. We’re of the mind-set to hunker down and wait it out.
Not so with foreign investors. An article on Forbes.com, identifies the US as a popular country for international real estate investment. According to Matt Woolsey, the article’s author, “Their markets of choice include New York City, Los Angeles, Washington, D.C., Seattle and San Francisco.”
US markets were not getting this kind of play last year. But now, the weak US dollar and fire-sale prices are starting to lure international investors away from China and India.
Of the cities popular with foreign investors, Seattle is probably the most affordable. Why buy a tiny condo in New York or San Fran, when you can get TWO slightly-less tiny condos in Seattle for the same price? Or maybe even an entire house?!?
And the trend isn’t limited to rich foreigners. One of my Dutch friends recently inquired via e-mail if I thought now was a good time to invest in US real estate. He’s considering a rental property over here–for house-milking as the Dutch call it.
My response to my friend and all other would-be investors: The US is a good place to sink some cash, as long as you find a good deal, in a good location and can hold on to it long enough to reap your reward.
Florence Moore said:
Does anyone have any insight into how to market a property to foreign investors, or for that matter even investors in California.
July 16, 2008 4:54 PM
rick.williams said:
Here are a few suggetions for marketing to foreign investors:
1. Use an international real estate service. A quick Google search found many of these. These are professionals that provide their service for a fee.
2. Advertise in foreign media. Determine the best market for your property and put an ad in the local paper.
3. Build your own Web site advertising your property. Make sure to research the best way to get your site to appear in search engines.
Other than paying someone to do it for you, you’ll need to get creative. While it can seem daunting, remember–you just need to find that one buyer. Good luck.
July 21, 2008 9:56 AM