Cheap homes lure foreign buyers
CNN Money – Lured by bargain home prices, foreign buyers stepped up their purchases of U.S. homes by 24 percent over the past year, according to the NATIONAL ASSOCIATION OF REALTORS®.
Comments Off
|
You are viewing category: International Real Estate Investing International sales continue to climb in U.S. marketDue to low prices and the relative weakness of the dollar, international buyers continue to identify the U.S. as a desirable place to own property and make a profitable investment. According to the NATIONAL ASSOCIATION OF REALTORS® ® 2012 Profile of International Home Buying Activity, total residential international sales in the U.S. for the past year ending March 2012 equaled $82.5 billion, up from $66.4 billion in 2011. Total international sales were evenly split between non-resident foreigners and recent immigrants. International buyers bought homes throughout the country, but four states accounted for 51 percent of the purchases – Florida, California, Texas, and Arizona. Florida has been the fastest growing destination of choice, accounting for 26 percent of foreign purchases. California was second with 11 percent and Texas and Arizona accounted for seven percent. Proximity to the home country, the presence of relatives and friends, the convenience of air transportation, and climate and location are all important considerations to prospective foreign buyers. Locations on the East Coast generally attract European buyers, while Asian buyers tend to purchase on the West Coast, particularly California. Florida attracts a diverse set of international buyers including South Americans, Europeans and Canadians. Meanwhile, Texas remains popular among Mexican buyers. Within markets in an individual state, it is not unusual to find concentrations of people grouped by nationality. International buyers came from all over the globe, but Canada, China (The People’s Republic of China including Hong Kong), Mexico, India, and the United Kingdom accounted for 55 percent of all international transactions, according to the survey. Canada and China remain the fastest-growing home countries. Canada accounted for 24 percent of international sales while China accounted for 11 percent, up from nine percent in 2011. Mexico was third with eight percent of sales and India and the U.K. both accounted for six percent.
Comments Off
Custom 2,800 sq ft home in Boquete Panama for saleBeautiful Custom Home in Hacienda Los Molinos Boquete, Panama 3 BEDROOM – 3 BATH (with additional office room) Listed at $239,000 If you’re planning a visit to Boquete to look for a retirement or a second home, here’s a property that you’ll definitely want to take a look at. Originally listed at $289,000, this beautiful 3-bedroom, 3-bathroom, 2,800 square foot home is has recently been reduced to $239,000. Take a few moments to look over the information and feel free to contact me by email or call me on my toll free number at 1-877-226-6048. Paul McBride
Custom Home in Hacienda Los Molinos This beautiful house includes everything you’d expect in a custom built home including upgraded floor tiles throughout, custom cabinetry, luxuriously appointed master bathroom, walk in closet in the master bedroom, granite counter tops, stainless steel sink in the kitchen, enclosed garage, tongue and groove solid wood ceiling over the patio and an office in the rear of the home with its own private bathroom. If you’re planning to relocate to Boquete, this home is available for immediate occupancy. The house is located on a scenic lot in Hacienda Los Molinos, one of Boquete’s finest planned communities. Detailed Information Construction Type: Concrete block, reinforced steel with tile roof Total Size (interior space): 2,800 sq ft Number of bedrooms: 3 (with an additional office room) Number of bathrooms: 3 Home Owners Association fee*: $102.07 mo* 16 year property tax exemption * HOA fee includes water, garbage pick up (twice weekly), road and common area maintenance and 24 hour security. An events center with full sized gym is currently under construction and will be completed in mid 2012. Detailed Description: This single level home is the perfect size for a couple looking to retire in Panama. The high ceilings make the main living space feel comfortable and airy. The huge master bedroom includes a finished walk in closet and well appointed master bathroom. There are two additional bedrooms in the main living area that share a full bathroom. An additional room (with full bath) is located off the laundry area and can be used as a spare bedroom, office/crafts room or maid’s quarters. The deed and title to the property are held in a Panama bearer share corporation. The corporation is included with the purchase of the home. Call me to discuss the many benefits of owning property in a Panama corporation. FEATURES
Listed at $239,000 Contact us for more information.
Comments Off
A Success Story in Boquete PanamaBeautiful Custom Home in Hacienda Los Molinos Boquete, Panama 3 BEDROOM – 3 BATH (with additional office room) Listed at $269,000 Unless you’ve been hiding in a cave since 2007, you probably know that the real estate industry hasn’t been exactly rosy over the past 4 years. On the plus side, there’s no question that the economy in Panama has been going gangbusters during that time. But even Panama hasn’t been immune to the effects of the global real estate slow down and many of the promising residential projects that you read about 4, 5 or 6 years ago are now tropical ghost towns. Fortunately, there’s a success story out there that you should know about. Tucked up in the mountains of western Panama, about half way between the city of David and the beautiful town of Boquete is a master planned, residential project called Hacienda Los Molinos. Conceived in early 2000, construction began in 2002 and by 2005 the first buyers were moving into their new homes. Today, Los Molinos has over 50 completed single family homes and 20 condominiums all with breathtaking mountain views. Unlike dozens of large and small residential projects in the area, the developers of Hacienda Los Molinos continue to make significant investments in their project. An ambitious $2 million infrastructure improvement program is currently underway that includes road paving, enhanced landscaping and the construction of a new country club facility with a modern fitness center, club house and conference center. While other developers make promises, the guys at Los Molinos are actually delivering. What does that mean for a person interested in buying a home in Panama? My experience at other successful residential communities shows that when amenities are added, demand increases and values go up. And, to make things even better, a new four lane highway connecting the Boquete area to the city of David is also nearing completion and the airport in David is undergoing a multimillion dollar enhancement and renovation. All of these factors add value to the area and Hacienda Los Molinos is well positioned to take advantage of these developments. History shows that those who purchase a home in an established project before the completion of improvements and amenities profit more than those who purchase after the work is completed. CLICK HERE TO SEE PHOTOS OF SOME OF THE NEW IMPROVEMENTS AT HACIENDA LOS MOLINOS I started working and doing business in Panama in 1997. A lot has happened in this country over that time (some good and some bad) but all the compelling reasons that drew people to Panama and to Boquete are still as valid today as they were then. Great climate, friendly people, low taxes and, most of all, an extremely affordable lifestyle await you there. Although prices have increased in the Boquete area over the years, there are still some great deals to be found. Here’s a home listed in Hacienda Los Molinos for $269,000 that has everything that you’d need for your retirement years or as a second home in Central America. New homes of comparable size are now selling for more than $350,000
Custom Home in Hacienda Los Molinos This beautiful house includes everything you’d expect in a custom built home including upgraded floor tiles throughout, custom cabinetry, luxuriously appointed master bathroom, walk in closet in the master bedroom, granite counter tops, stainless steel sink in the kitchen, enclosed garage, tongue and groove solid wood ceiling over the patio and an office in the rear of the home with its own private bathroom. If you’re planning to relocate to Boquete, this home is available for immediate occupancy. The house is located on a scenic lot in Hacienda Los Molinos, one of Boquete’s finest planned communities. Detailed Information Construction Type: Concrete block, reinforced steel with tile roof Total Size (interior space): 2,800 sq ft Number of bedrooms: 3 (with an additional office room) Number of bathrooms: 3 Home Owners Association fee*: $102.07 mo* 16 year property tax exemption * HOA fee includes water, garbage pick up (twice weekly), road and common area maintenance and 24 hour security. An events center with full sized gym is currently under construction and will be completed in mid 2012. Detailed Description: This single level home is the perfect size for a couple looking to retire in Panama. The high ceilings make the main living space feel comfortable and airy. The huge master bedroom includes a finished walk in closet and well appointed master bathroom. There are two additional bedrooms in the main living area that share a full bathroom. An additional room (with full bath) is located off the laundry area and can be used as a spare bedroom, office/crafts room or maid’s quarters. The deed and title to the property are held in a Panama bearer share corporation. The corporation is included with the purchase of the home. Call me to discuss the many benefits of owning property in a Panama corporation. FEATURES
Listed at $269,000
Comments Off
Foreign buyers scooping up U.S. homesCNN Money – International purchases of America homes are ramping up, and a new Senate bill designed to boost the ailing real-estate market would encourage globe-trotting investors to buy even more.
Comments Off
Last minute summer deal for Punta MitaLast minute summer deal Deluxe Beachfront Condos, Golf and Ocean View Villas Book 4 nights or more in a 3 bedroom Condo or Villa and recieve 1 night free - Includes 2 complementary 50 minutes massages (per stay) Rate $865 mxn Plus 16% Mexican taxes and 2% service charge This offer is valid starting May to October 31th, 2011 Property rentals includes: Services with extra charge Mita Residential
Comments Off
The Panama PerspectiveWe invite you to learn about Panama, it’s people, places to visit and investment opportunities that we feel are of merit. Our mission statement is simple. Offer our clients up to date relevant news and provide unparalleled service. Like many people, my wife and I often took trips abroad to see other lands with the idea one day of having a second home or moving to another country. Having been in commercial real estate for 30 years in the US, I saw things building towards another bubble in 2006 and started my journey to Panama, the land of my birth to see what all the talk was about. I realized that time was running out and it was time to “stop and smell the roses”, so we made the move and here we are. We have lived in the mountain town of Boquete for 5 years in a small community called Valle Escondido. We have traveled extensively throughout Panama looking for places to live and investment opportunities. We have a good understanding of values and amenities associated with each area of Panama, we can guide you to the right place and introduce you to the right people. Whether you are looking for a family retreat or you wish to invest some of your portfolio in another sovereign nation, we can be of assistance. Tom Brymer
Comments Off
Calling all Canadian Realtors and Brokers!
I am writing this letter as an introduction, and also to give your clients the opportunity to invest in San Francisco real estate. The other day it occurred to me that the Canadian dollar is very strong against the US dollar and that there might be real estate agents with clients who would like to invest in property in the US or have a second home in our beautiful city of San Francisco but don’t know how to get started or where to buy. As a Realtor with over 33 years of experience in San Francisco real estate, I can tell you that NOW is a great time to buy and can best guide your clients to the right areas of the City. Our market has never been stronger, and with the Fed continuing to lower rates, loans are just going to get better and better. A lot of areas have been hit by the sub-prime meltdown and foreclosures but not us. In fact, while sales volumes are down for the year (mostly because of low inventory), our average selling price has continued to go up at about 10% a year! Think about the cash on cash return for your clients in these leveraged investments! We expect as the year rolls on, our economy continue to roar back, and with that comes a stronger housing market and higher home values. Don’t let your clients miss out on the opportunity to take advantage of the strong Canadian dollar, the lowering of interest rates and a strong San Francisco real estate market! We pay referral fees and will take great care of your clients. Please check out my website www.sfresidence.com or call me TOLL FREE: 1-866-224-8024. I hope to hear from you soon! Sincerely, Janis Stone
Comments Off
Panama development at Red Frog Beach is close to coming back!
The owners had a meeting last week, and organizer, Chris Hahn, wrote a general overview of the outcome. Apparently many people who had been opposed to moving forward had their minds changed by the open disclosures of the Red Frog principals and were encouraged by the fact that funding may be just around the corner. Read the article here. - Mick Orton
Comments Off
Panama Investor Blog posts my letter
The Red Frog Beach project in Bocas Del Toro is an important one for that area as well as Panama. It is an ambitious project built on an island in one of the more difficult areas of the country in which to take on such a project. The challenges range from material acquisition and logistics to labor and financing. As a developer I sympathize with the difficulties these folks have faced. I have visited the property on several occasions and some of the property buyers receive my blogs and write to me regularly. Everyone wants to know, “When will this project get back on its feet and start building again?” I recently asked the developer to give me an update and he has promised to do so in the near future, but I wanted to share some information with my readers that is from one of the homeowners. Mick Orton loves the project and the area and still looks forward to one day spending a lot of time there. Mick sent me the following information and asked me to share it with you. Construction at Red Frog Beach on Bastimentos in Bocas del Toro has been silent for over a year. As an investor this made me very nervous that our home on the Caribbean would never be built. After all, we had dreams of keeping our boat at the boat slip, dining in the fine restaurant that they promised would be built, cooling off in our own private pool, waking up to the gentle crashing of waves of the ocean, lounging on the beach and maybe even surfing or waterskiing. Before construction stopped, several homes were finished, and many were under construction. When we got our call to pick our options and colors we thought we were nearing the finish line. Then came word of a strike and pending financing problems. Months went by with no resolution to the problems that plagued Red Frog, and we got concerned. During that time, not a lot of news was coming from the developers other than the 1 hour monthly conference calls. As a result, several owners started blogs like our Red Frog Blog and Red Frog Beach Forum to keep the buzz going, to stay informed and keep the dream alive. Some chose to use it as a negative forum, but mostly the comments were pleasant and upbeat. The general consensus was (and still is) that we owners wanted this project to succeed, and felt that the developers had the best of intentions to complete it. Much has changed since we first invested in Red Frog. The government has made several revisions to the tourist visa and property tax exemption laws, not necessarily for the better. (Thanks to the Prima Panama Newsletter and Blog we are keeping a close eye on those changes.) We also found that with the housing and mortgage chaos in the United States, the Panamanian banks and lenders were also affected negatively. And though we were originally told the developers had funding sources for construction on rights of possession land, as money tightened up, these sources disappeared. The situation has been very complicated with so many rights of possession lots and contracts coming due, it was time for the developers to begin looking for alternatives. Most recently we have seen a major push to move much of the equity from later phases into phase 1 with the introduction of fractional ownerships. Many of the people who were in the project early have seen their financial situations change and were very happy to participate. Money is getting tighter, and fractional ownerships are a great solution for many of the people involved. Another move by the developers to get this project back on track has been to make concessions to owners in order to get around problems with rights of possession land. I feel Red Frog has been exceedingly creative in working with the owners to turn this thing around and get back on course. Since the beginning I have been bullish on Red Frog. The project will bring much needed money back to the business people of the area and to construction workers as well as their families. I am told the area has been hurt by the work stoppage, and starting construction again will be a boom to the local economy as it was in the past. There is hope that complications will be worked out soon and construction could begin again within a very short time. Mick Orton – Red Frog Beach lot owner
Comments Off
|
To our Canadian colleagues,
Here is an article spawned by a letter I wrote to Sam Taliaferro, a Panama Developer, who runs a blog called the 
