The declining Dollar certainly is making us all think at least twice before deciding to go on a foreign vacation. In fact a smoker friend of mine just came back from the UK where he told me that gas was equal to $10 a gallon and a packet of cigarettes was $15 - not a carton, a pack!
But it is not all bad news for us because the whole thing works in reverse for foreigners! $3 gas for us = 1.50 POUNDS for someone from England. And housing is just the same which is what is dragging these foreigners here to bargain hunt.
"The US is an enticing investment," says Phillip Hegarty, the sales Director of a Dublin based firm that works with irish investors to buy residential and commercial real estate in the US.
And what's even better news for Florida is that it massively tops the poll of where these foreigners are spending their money.
Top Ten State Destinations for International Homebuying
Florida 26%
California 16%
Texas 10%
Arizona 6%
New York 4%
Colorado 3%
Illinois 2%
Ohio 2%
Georgia 2%
North Carolina 2%
Percentage of all international home buying transactions
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(Copyright © 2007 By Simon L Conway All Rights Reserved.)
Please give me a call if you have questions about the Central Florida real estate market. You can reach me on 407 876 8200. Also visit my web site at http://www.simonconway.net/ or http://www.move2orlando.net/
Also remember to check out my weekly radio show - The Home Team - which airs every Sunday at Noon Eastern and if you are not in Central Florida then you can tune in on line at http://www.540wfla.com
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