Personal thoughts from within the Luxury Real Estate network
By Allyson Metters
Nearly one in five REALTORS® has sold a home to an international client in the past year, according to new research by the National Association of REALTORS®.
The 2007 NAR Profile of International Home Buying Activity explores the characteristics of second-home purchases in the United States made by international clients.
Some interesting points:
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Twenty-eight percent of foreign buyers bought their houses with cash, compared to 8 percent of U.S. buyers.
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The median sales price of homes purchased by international buyers was $299,500, which is significantly higher than the U.S. median of $221,900 during the same period.
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The South attracted nearly half – 49 percent – of international buyers last year, while 31 percent purchased homes in the West.
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Nearly a third of the REALTORS® surveyed worked with international clients or prospects during the previous year.
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Among international clients, the top five countries of origin were Mexico, United Kingdom, Canada, India and China.
Like Bente posted last week, now is a great time for agents in the United States to start thinking about how marketing efforts are appealing to these international buyers.
Editor’s Note:
Allyson Metters is the Relocation Manager for LuxuryRealEstate.com. She helps people who are moving to find a perfect broker to meet their needs in their new area. This blog entry includes some excellent information that I hope you’ll be able to use in your business plans. Thank you, Allyson, for finding and reporting this information!
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