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Out of curiosity, do you know how many of your offers were from foreign nationals? I've seen some articles talking about how overseas investors are driving up p
by deegles 11y ago
Out of curiosity, do you know how many of your offers were from foreign nationals? I've seen some articles talking about how overseas investors are driving up property prices and was wondering if it was true in your case.
- Domenic_S 11y agoA different market, but I think the Chinese Money thing is a bit overblown. The San Francisco and San Jose metro areas ranked ninth and sixth from the bottom, with all-cash deals representing only 28 and 24 percent of purchases, respectively. All-cash sales in San Francisco peaked at 36 percent in the first quarter of 2010, Zillow said. http://www.sfchronicle.com/business/networth/article/All-cash-home-buyers-not-as-common-as-they-seem-6682285.php http://www.sfchronicle.com/business/networth/article/All-cas...
- scurvy 11y agoCould have fooled me. I get 3-4 letters a month from realtors wanting to buy my condo for a Chinese investor.
- epimetheus 11y agoI think the person you are responding to was referencing my city/town as "not the market" more than anything, though I could be wrong. Seattle has many stories of cash markets from foreign investment too, but not many venture as far south of Seattle as Tacoma. That might be changing, but my house isn't in a desirable neighborhood either.
- jsmthrowaway 11y agoMy father sold his west Texas home in cash to Chinese nationals. West Texas. And the process took 24 hours. I doubt it's overblown.
- scurvy 11y agoBeen to Miami lately? Take a drive around Edgewater. Foreign money is not a myth. The biggest problem is operational for these huge towers. The occupancy rates are all over the place with wild fluctuations. It makes things like staffing and water pressure difficult to manage.