The world is getting smaller every day.  With an increasing global economy, anytime can be a good time to sell property.  South Koreans are on a home-buying spree in several U.S. cities, including New York, Los Angeles, San Francisco and Atlanta, according to an International Herald Tribune article. Their purchases are spurred by a May 2006 Korean policy that allows individuals to invest as much as $1 million overseas, the relative strength of the Korean won and the sagging U.S. housing market, the newspaper says. South Koreans' investment in U.S. residential real estate is expected to total $2 billion in 2006, up from $1.27 billion in 2005, the article says. Much of the spending -- either for homes to use themselves or as long-term investments -- will be in Los Angeles, whose Korean population is one of the largest outside the Asian nation, the article says. This year, the country may allow each citizen to invest as much as $3 million abroad, and the spending cap may be lifted totally by 2009, the paper says.

If you are a home owner that is considering selling your home, don't let media hype influence you to the point that you think that you can time the real estate market.  You could be robbing yourself of potential buyers.  Talk to a professional that can truely assist you with assessing your home's sale potential. 

 
This post has been included in New York Real Estate News

4 Comments on International Investment increasing in the U.S.

APR
14
2007
558,878 Points 91 Featured Posts Outside Blog Attended Rain Camp

Kevin,

Welcome to A/R, if you need any asistance, please feel free to email me!
2:04pm • #1
JUL
01
2007
111,823 Points 1 Featured Post Outside Blog
Very insightful post Kevin!  Thank you for a pleasurable read.  I think more and more agents/buyers need to stay abreast of the issue.
2:34pm • #2
OCT
30
2007
153,757 Points
  • Hi I just Wanted to say Hello and To Introduce Myself.
  • I'm Tommy A Certified Home Inspector here in Long Island. 
  • We're neighbors. I'm located in Farmingdale. And you?
  • Can you introduce your company?I would like to meet my neighbors.
  • Thank you,
  • Tommy
    • 2:42am • #3
    DEC
    25
    2007
    153,757 Points

    Wish you a Merry Christmas and best wishes for a great year in 2008.

    Tommy   New York Certified Home Inspector Long Island NY Nassau/Suffolk Home Inspections

    11:45am • #4


    What does the graphic say?
    Leave a response…

    (optional)
    Spam Prevention:
    		 

    Kevin Murphy

    Saint Albans, NY

    More about me…

    Skylight Real Estate Consultant

    Address: 187-08 Linden Blvd, St Albans , NY, 11412

    Office Phone: (718) 525-4082

    Cell Phone: (646) 573-1875

    Email Me



    Links

    Archives

    RSS 2.0 Feed for this blog