United States Real Estate is a good buy for foreign buyers.
All of you using the Euro, the British Pound or even the Canadian Dollar can get real estate on the cheap here in The States. The dollar is weak making your currency more valuable. Real Estate in the U.S. is already cheap because of the market shift. Add that to our weak dollar and you can get a real good deal. Many of our popular areas like California, Las Vegas, & Florida are experiencing deep discounts.
Are prices still dropping in the U.S.? Yes, in many areas prices are still falling but in my opinion many markets have seen the biggest drops and anything from this point on will not be as dramatic as we have seen in the past year or two.
Is now the absolute best time to buy? This is not an easy question to answer. History tells us that these market corrections last 2-3 years. This means that many areas might be corrected and the home values will plateau for a while or even start to rise. In my opinion it's better to start your search early and if you find a property that fits your needs, grab it. In many cases you can get the seller to pay your closing costs and also get money off the asking price.
What types of properties are the best value now? Most real estate is a great value but higher end properties ($500K and up) tend to be the best. We have seen the biggest price drops in these price points. Even though it's not a great time to sell, the wise are selling and upgrading.
Real estate history in the U.S. has shown an average of 100% increase in value over a 10 year period. This means that real estate is always a good investment. Combined that with a 30+% discount in the values of homes in some markets across the states and our weak dollar your 10 year investment could return you +/- 150%.
If great summers and mild winters are what you like check out Western Washington State. The U.S. has some very beautiful places and I have seen many but the weather, landscape, Lakes, Puget Sound, Pacific Ocean, Olympic & Cascade Mountains, and the green vegetation keep me in this state. Contact Me for more info on Western Washington.