Foreign Buyers See Big Bargains in U.S. Real Estate

Daily Real Estate News Friday, January 13, 2012

Foreign investors are finding plenty of deals in the U.S. when it comes
to real estate, and, as such, more international investors are flocking
to key states to buy their piece of the American Dream.

Mexico is the top country of origin for foreign buyers purchasing U.S.
homes, according to a recent study by Credit Sesame, which used National
Association of REALTORS(r) data for its findings.

"In this period of tremendous uncertainly globally, real estate here is
a safe haven," Susan Wachter, professor of real estate and finance at
University of Pennsylvania, told MSNBC.com.

The top destinations of foreign investors for U.S. real estate purchases
are:

1. Florida: Thirty-one percent of all home purchases in that state are
made by foreign buyers, with most coming from Cuba, Haiti, and Colombia.

2. California: 12 percent of all home purchases (most coming from
Mexico, the Philippines, China, India, and Vietnam)

3. Texas: 9 percent of all home purchases (most coming from Mexico,
India, Vietnam, China, and the Philippines)

Source: "Housing More Affordable Than Ever ... for Foreign Investors
<http://bottomline.msnbc.msn.com/_news/2012/01/13/10122512-housing-more-
affordable-than-ever-for-foreign-investors> ," MSNBC.com (Jan. 13, 2012