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Florida Mortgage | Foreign National Homebuyers - "Dollar weakens on Subprime Woes" is good news for you!

Today my Google Alerts popped up with a story from DowJones' MarketWatch.

Euro at high vs. dollar amid subprime worries

This is great news for Foreign National Buyers in the US.

"The euro was up 0.7% at $1.3717. The dollar was down 0.9% against the yen at 122.12 yen. The British pound was up 0.5% at $2.0255."

As the US Dollar continues on its weakening trend, Foreign Investors and Foreign Nationals looking to buy investment and/or vacation homes in Florida will continue to benefit from:

Low Interest Rates
High Inventory
Low Property Prices
Cancelled Contracts on New Construction

Foreign Nationals will also be able to experience some Return on Equity - something that does not exist for US Property Owners.

While the Florida Real Estate market remains at its current state of high inventory and low prices, bargains do exist for Foreign National Buyers who are ready and able to make their purchases in the midst of this down market.

For more analysis and information on this topic, please click on this link to my off-site blog

Read more about Foreign National Mortgage Planning in my previous posts:

More Florida Mortgage and Real Estate News You Can Use From
David A. Podgursky, MBA
The Mortgage Go To Guy!!
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

Posted by David A. Podgursky, MBA The Mortgage Go To Guy! on 07/10/2007 06:53 PM

Comments (19)

foreign national, europe, investment, florida mortgage, foreign national loan, boca raton, boynton beach, palm beach county

Originally posted at: Boca Raton & Boynton Beach Florida Mortgage Blog: Florida Mortgage | Foreign National Homebuyers - "Dollar weakens on Subprime Woes" is good news for you!

This post has been included in Florida Information

19 Comments on Florida Mortgage | Foreign National Homebuyers - "Dollar weakens on Subprime Woes" is good news for you!

JUL

2007

David,

I liked the way you broke down the numbers on the foreign markets, we have to look for some optimism, I mean a loan is a loan, now I just need to get some Foreign National loans... :0)

Nice update,

Tom Weiss

Tom - you have to know the niche ... then go after it!

David - we love working with Foreign Nationals here and many find our beaches a great buy as well as a great place to visit - thanks for the market update. Always good to work with a Florida Mortgage professional that understands the special needs of a Foreign National.

David, well I guess that bad news for some is good news for others. That is better then it being bad news for everyone. I don't deal with Foreign Nationals where I am, but if they were around I would do my best to pick up on some of that business.

Thanks for the info and see if you can send some Foreign Nationals over here :)

We are focusing on the business of bringing foreign buyers to US properties by providing real estate videos with narration in English, Spanish, and Portuguese. People in Europe are looking at the Americas as a bargain. A small apartment in Madrid will easily run more than a million US dollars.

Even I was surprised to find out that this year almost 50% of US real estate related transactions this year will be to foriegners or immigrants? we have a link to video of the NAR CEO, Dale Stinton, saying exactly that.

Makes you wonder what things will be like by 2015.

Tony

edited to remove the link above - been on the internet since 1993 and it's the first I've heard about people getting upset about putting links in comments

Good news for foreign buyers! We have a local developer who now has a team dedicated solely to attracting foreign buyers. Great information you have provided David, keep it coming!

Cyndee - good to know! in case I get anyone looking for property in Tampa/Clearwater :)

Leah - thanks! Which developer?

A. Grey ... yeah... the number is big but that's good for our recovery!

George - it is all relative. a lot of people have invested in foreign currencies - that isn't happening as often anymore. Real Estate has always had value even when monies haven't! In real estate you don't get massive devaluations on purpose!.... I know countries that would just drop 2-3 zeros off all their money to catch up on foreign exchanges... that doesn't inspire confidence. Worst case in real estate is you have some intrinsic value

David:

Great analysis of the current economic conditions. Few loan originators can articulate the advantages to certain buyers when faced with poor domestic economic news.

If you expand this post in two weeks, it'll be tough to take the top mortgage prize here.

David, watching the market isn't just seeing your portfolio sink is it! This is great up to date information to help attract foreign buyers with solid reasoning. Great post.

Gary - the portfolio will recover.... the value of your portfolio is in the cash flows, not the equity!

Brian - thanks! gotta figure out what I want for my topic!...

News is relative... relative to the buyer, relative to the neighborhood, relative to the city, county, region etc... myopia keeps us from remembering these things!

David... I agree with so many and I want to emulate both Brian and Leah's comments. Great job.

JUL

2007

David...I really like how you tied together your earlier articles. All were very well written and helpful..Thanks for the info

Interesting post. Thanks for sharing the information. Appreciate it.

Bring on the buyers.. :-) The lenders really have made it easier for Foreign Nationals to purchase property here in the US.

Hi David-I thought I had commented here before, am wondering if you have a foreign national loan progam with 5% down? A local mortgage company told me that this product exists. I am part of our International Council and it was presented to us, would hate for some of our associates to use them to find out its not true. Nice post

David,

Thanks for giving me a new perspective and maybe a new marketing strategy. I'll be back for more. Hope you don't mind.

Bil Roberts

Hey maybe the feds can levy a special tax only to foreign nationals buying RE in the US to bail out all the uninformed that got suckered into bad loans. That would keep us Citizens from having to pay for the greed of others. roll

I´m glad that you were able to find your silver lining in the hurricane. Hope it works out for you!

JEff B = thanks

Scott Hoag - thanks! Tampa's got its fair share of foreign investment!

Bob and Carolin - thanks for stopping in!

Matthew... haha...

Midori - I emailed you an answer but I have some caveats we can discuss on the phone

Bill - I don't mind at all! Keep on comin

and make sure to check out the off-site blog link for even more in depth analysis

JUL

2007

The Foreign National buyer is a wonderful niche to have under your belt. They is available some pretty darn good products from lenders out there for these buyers. I've only done a couple myself but I would venture to guess that is a market that is easily cornered if you know it and go after it. Heck, I'm even going to click on the off-site blog link which I don't do often....

Nice work David on a subject that I haven't seen talked about on here or elsewhere that much!

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