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.
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