International buyers love Florida real estate

From the United Kingdom to Canada, Mexico and Argentina, foreign buyers love Florida real estate. And by purchasing luxury vacation homes, mid-priced primary residences and commercial properties, they provide a strong, steady flow of investment throughout the state.

“Foreign buyers prefer Florida’s location in part because of how it serves as a nimble point of entry to the U.S. from the Caribbean, Europe and South America,” says Wenceslao Fernandez Jr, Realtor-Associate at Keller Williams Miami beach Realty. “Our beaches and tourist attractions in South and Central Florida, warm weather, and cultural diversity are also very strong factors attracting visitors. With no State Tax, Florida also becomes a great way for citizens from other states to be in the USA and have everything they know, while saving money.”

A 2008 survey by the National Association of Realtors® (NAR) found that Florida led the nation in foreign home buying, accounting for 25.4 percent of all international purchasers.  California was next at 8.9 percent, followed by Arizona at 8.7 percent and Texas at 6.8 percent. As the report said, “These are major gateways into the U.S. In addition, the climate in most areas of the top four states is relatively mild, certainly compared with that of Canada and most European countries.”

The 2008 NAR Profile of International Home Buying Activity, which covered buying patterns from May 2007 to May 2008, states that Florida was the top choice for buyers from Europe, North America and Latin America and behind only California as a preferred destination for Asian buyers.

The median price foreign buyers paid for a home was $297,400 – well above the 2007 national median sales price of $217,900. A long-term decline in the value of the dollar when compared with European and Canadian currencies – combined with lower home prices – means that the true cost for a U.S. property is actually less in foreign monetary terms than in previous years.

“Compared to home prices in other countries such as Spain, the United Kingdom and Ireland, real estate in Florida remains highly affordable,” says Vani Ungapen, director of international operations and research, for the Florida Association of Realtors® (FAR), in Tallahassee.

Florida has 31 major airports and 14 deepwater seaports, she added. That supports international tourism, as more than 4 million visitors from 100-plus countries visit Florida in a year according to the U.S. Census Bureau.

A recent FAR survey found clear patterns among international buyers. For example, buyers from the United Kingdom (UK) favored the Orlando market, German buyers are often found in Naples-Fort Myers and Latin Americans typically choose properties in the Miami-Fort Lauderdale area. “In South Florida, we continue to see many high-end buyers from Colombia, Venezuela, and Mexico, among others” said Fernandez.

Summing up the opportunity for real estate professionals, the NAR report stated: “More and more people in different nations recognize the value of owning U.S, property. Whether international purchasers use their U.S. home as rental/investment property, as a vacation home or both, non-U.S. residents account for a significant share of home buying activity.”

Finally – This blog is born!

Whoa! Finally! It seems everyone else is on the web Bloggin’ so…here I am too.

You can also find me at:
http://www.MiamiRealEstateKing.YourKWAgent.com/ http://MiamiRealEstateKing.WordPress.com/ AND of course, http://Twitter.com/RealMiamiEstate and
http://www.Facebook.com/WFernandezJr as well

I have a Bachellors degress from Florida International University in Finance and International Business and I’m a Realtor and Certified Distressed Property Expert (what’s a CDPE?) with the Third largest Realty company, Keller Williams Realty.

You will get to know me over time and I hope to get to know you as well. This blog will address issues, gossip matter, and even what doen’t matter regarding real estate and mortgages in Miami-Dade County, Florida. Just don’t forget to browse through my twitter and facebook postings as well.

If you have scary stories, funny stories, bravery stories or just want to make a point about something either bugging you or tickling your fancy that is related to a real estate or mortgage matter that has or is ocurring within our county (Miami-Dade, Florida), please…don’t be shy.

Obviously, the thing going on in most people’s minds today is the fate of our economy, have we hit bottom?, are prices dipping any further?, will interest rates go up or down (yes, they will)?, how do short sales work?, what’s up with this tax form 1099 or deficiency judgements related to short sales?, etc, etc, etc. You get the picture.

Got a topic you’d like to introduce? Please, be my guest. Of course, I, and I do mean “I”, reserve the right to post, delete, correct, edit, comment or do whatever I want to any and all postings. After all, I’m the mastermind of this blog, aren’t I?

By the way, my name is Wenceslao, I’m a 48 y/o male (very happily divorced with 2 boys and a girl) who works in the real estate field here in Miami-Dade County, Florida. I live in Miami Beach where my office is and here’s my plug:

My office is an independently owned Keller Williams Realty office (#3 among real estate companies nationwide with offices throughout the USA and Canada), and consistenly ranks top 5 among all real estate offices serving the East part of our County, particularly the beaches.

Our office was opened in July, 2007. By January, 2008 it had more than 80 agents. Today (June, 2009), our office has about 200 agents and is still growing and seeking new and seasoned professionals. Just contact me to find out more or to help put you in touch with a Keller Williams office near you.

In addition, I can help guide you to find the right 1031 exchange or Self-Directed IRA administrator so you can move up and pay no taxes, or help you control your retirement destiny. These can be very powerful tools when you are working with someone who can help point you in the right direction for proper execution according to YOUR needs.

Lastly, if you already own a mortgage (and a property, of course), I can help you get that loan paid off in 1/2 to 1/3 of the time. To find out more (or come back and comment on it), visit http://www.mymortgagepaidfaster.com/, view the video explaining how it works and then send me an email requesting your very own FREE personalized analysis to see how this program will work for you.

Well, now you know a little about me and about what I do and what I’m passionate about. Now is your turn. Kindly identify yourself (yes, you may use your favorite username but…why not plug in?), state what you do and what you’re passionate about and make any comments about anything I’ve started up above. Good or bad (of course, no foul language, no bashing – there’s no point in that, and be sensible if you must critizise), just type and hit submit.

Thank you for visiting my blog and remember to visit my websites listed above.

Yours trully, Your Host,

Wenceslao