This morning I read two different articles that got me wondering about whether or not I should focus my marketing efforts overseas?
The first was a story about a modest bungalow selling for $421,800 over asking price. Asking price was $759,000 and was described as "not having had a whole lot of updating since it was built in the 1960s".
The 'successful bidder' is a university student from China with family money behind her so no worries about the property not appraising for value! Considering she paid $1,180,800 for this dated 3 bedroom home, it is a good thing she doesn't need a mortgage!!
The 2nd story I read this morning is a little nearer and dearer to my heart as it takes place just a bit down the road from me:
Terry and Marsha Dixon, owners of our local Eagle Point Winery in Mallorytown which opened only last May, sold the 600 acres to Chinese developer, Du Zhongyi of Wuhai, China!
The winery uses only 20 acres for their operation and the new owner has plans to 'transform the other 575 acres".
Part of the new owner's vision is "for the 600 acre property to include a world-class golf course and country club, residential housing development of 65 homes and an expansion of the winery operation." He expects to invest $100 million into this project.
The number 3 must be his lucky number because he say he wants to be the 3rd largest exporter of wine into China. He is currently the 3rd largest coal producer in China. It seems he has a diverse portfolio of investments in China, Mongolia and now Canada!
I have to say, for once I am speechless!
Shall we hire Chinese interpreters to help market our listings overseas?
If you're interested in investing in this part of Canada, get in contact with me, Susan Emo - let me help your vision become reality!