1. Florida leads the pack

International buyers purchase homes across the U.S., but Florida leads with 26 percent of all sales!

2. More pay in cash

Twenty-eight percent of international buyers bought their homes with cash, compared to 8 percent of U.S. buyers. In today´s market nothing is of greater value than a cash buyer!

3. Internationals purchase pricier homes

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.

4. Homes used for vacation, investment

Forty-seven percent of all international buyers purchased homes exclusively for vacation, while 22 percent were motivated primarily by investment. Nearly a third of foreign buyers cited both vacation and investment as reason for their purchase. International buyers are interested in properties in good locations close to the water or at golf courses as well as in investment properties throughout the area.

5. Stronger preference for condos

Most international buyers purchase single-family homes or townhomes. However, they showed stronger preferences for condos when compared to U.S. buyers; 22 percent of international buyers purchased condos, versus 12 percent of U.S. buyers.

In today´s challanging Real Estate Market you need the best exposure for your property that you can possibly get.

Let us market your property worldwide for best results!

Slightly more than half of foreign buyers (52 percent) purchased a detached single-family home, compared to 78 percent among all buyers nationally. Approximately one third (34 percent) of foreign buyers purchased a condo, 7 percent purchased a townhouse or row house, and the remaining 7 percent purchased some other type of home.

According to the 2008 Profile of Home Buyers and Sellers, 93 percent of all home buyers used mortgage financing to purchase their home. Among recent foreign buyers in Florida, use of mortgage financing was less frequent. Overall, 32 percent of foreign buyers financed their home with a mortgage while 67 percent paid cash with no mortgage financing.

Many foreign buyers (16 percent) purchased a property to use exclusively as a vacation home. Fourteen percent purchased a home to be used as a rental property. Given the
limitations on the length of time that foreign buyers may be able to personally use their property, 24 percent of sales were for a dual use – as a vacation home for the buyer’s
family and friends and as a rental property at other times.

The Miami-Fort Lauderdale area was the most frequently reported location of a home purchased by a foreign buyer in Florida. More than one in four (27 percent) foreign buyers purchased a home in the area, followed by 11 percent who purchased a home in each the Sarasota and Orlando areas.

If you are interested in selling your home, contact a Real Estate Company which specializes in working with International Buyers – contact Weiss & Weiss International Realty.

Source: Florida Association of Realtors

Buyers often are taking money out of stocks and retirement plans and sinking it into real estate.

Many are in search of retirement properties and are grabbing the bargains. Others want to buy a home for vacation and investment and are buying without even having seen the home in person.

If you are interested in selling your home, contact a Real Estate Company which specializes in working with International and out-of-state buyers – contact Weiss & Weiss International Realty.

The most interesting part of this survey for us is that the Bradenton/Sarasota area makes the third place for the most frequently reported location of a home purchase after the Miami-Fort Lauderdale and the Orlando-Kissimmee areas. If you take in consideration that our area is much smaller than the Miami or Orlando area, this news is even more significant.

The buyers who bought property in Bradenton and Sarasota were mostly from Western Europe (44 %) and Canada (44 %). This survey shows how important international buyers are for our local market. “For home sellers it is extremely important that their property gets enough exposure on the international market. International Marketing can be the difference between selling or not selling their homes”, according to Weiss.

According to the survey foreign-born Realtors are more likely to work with international clients than U.S.-born Realtors. Foreign buyers often feel more confident when working with Realtors from their home country.

The reason for the increasing interest of foreign buyers in Florida properties can be seen in the falling value of the U.S. dollar relative to major world currencies during the past several years. As a result the cost of Florda property, priced in dollars, is much lower when converted to the buyer´s home country currency. From the percpective of foreign buyers Florida real estate is effectively on sale.

With the Canadian dollar hovering around par with the U.S. dollar, buying Florida homes seems to be a nice investment for many Canadians (The Canadian dollar was worth only 80 cents three years ago). Also Canadians benefit from a continued strong housing market and increasing home equity.

According to the Canadian Real Estate Association, overall home prices grew 11 percent in 2007 to an average of $307,265, and they are expected to rise an additional 5.3 percent in 2008.

A Canadian bank has also made it easier to secure a mortgage. It set up a program that allows Canadians to buy U.S. property worth up to $2 million with a down payment of less than 25 percent!

Many people talk about secured credit cards. We don’t like them. Why? There are better ways:

The way to go is the so called American Express “Global card transfer program”.

 You have to be an American Express cardholder in your home country (otherwise you should join immediately). You call the US global card transfer center at 1-800-453-2639 (North America) or 01-801-945-2048 (International) 7:00 am – 5:00 pm (MDT).

HINT: Check out which card you want to take before you call! The information on the phone can be very complicated, and you only have 1 choice (you can apply for other cards through the regular ways later, but you can only transfer 1 card).

What they do is they use the internal “AMEX credit report” from your home country and transfer to the AMEX credit report at your destination country. This works worldwide where American Express cards are available (not only for the US). You don’t have to have a SSN in order to transfer your card to the US. However, if you have one it’s even better for you.

For more info: American Express Global Transfer Program

By using the American Express Global Transfer Program you will get a relative high credit line from Amex into your local credit report, your credit worthiness will grow really fast. A SSN will help to make sure that the Amex credit report is assigned to the right person when reported to the nationwide credit agencies (Transunion, Experian, Equifax).

Hope this helps!

Axel

Since January 2008 a City of Bradenton sign joins thousands of other hometown, directional and unusual automobile, caution and other signs in the world-famous Fernweh-Park Sign Post Forest in Hof, Germany.

Klaus Beer the founder of the Fernwehpark in Hof, Germany with Axel Weiss

The Sign Post Forest is a tourist attraction in Germany where visitors from all over the world can put different signs on huge poles that have been put up just for this purpose. It’s the largest park of its kind in Europe.

Bradenton resident and Real Estate professional Axel Weiss delivered the sign personally in Hof in January 2008. “I thought when being in France and Germany to promote our beautiful area this would be a perfect fit”, says Axel Weiss.

Axel Weiss from Bradenton donating the City of Bradenton sign to the Fernwehpark

The sign was sponsored by the City of Bradenton and handed over by Mayor Wayne Poston to Axel & Bea Weiss during a City Council meeting in October 2007.

Mayor Wayne Poston of Bradenton with Axel & Bea Weiss

Bradenton residents Axel and Bea Weiss, originally from Germany, fell in love with the Bradenton / Sarasota area many years ago when they came to Bradenton just for vacation. They are involved in the local and international Real Estate business for many years and are busy to promote the Bradenton / Sarasota properties locally and to Europe.

Sun, sand and surf

“Many Europeans are interested in coming to Florida. As soon as they get to know our amenities – they will love them.”, Axel Weiss says. “We have nice little towns, the best beaches and friendly people – and plenty of sunshine. This is what the Germans, Brits and Canadians are looking for.”

This sign of Bradenton now welcomes visitors from all over the world at the Sign Post Forest in Hof/Germany, which is one of only two parks of this kind worldwide. The Initiator of the park Klaus Beer, a documentary filmmaker, founded the park after visiting the Yukon and discovering the famous sign post forest in Watson Lake. He took the idea back to Bavaria and opened the Hofer Fernweh-Park. Together with the additional attraction “Signs of Fame” this multicultural project makes the Sign Post Forest in Hof/Germany unique throughout the world.

Some background information on the “Fernwehpark”:

Since November 9th, 1990, visitors have the possibility to place all kinds of signs in the “Middle point of Europe” at the Hofer Fernweh Park. Over the years people from all over the world brought city signs, directional signs, exotic license plates or caution signs to the Park.

By now, the Fernweh Park has become a favorable meeting place for travelers from all over the world.

When visiting the Fernweh Park you have the possibility to travel the world in thoughts and emotions with only a few steps!

One of the main parts of the Fernweh-Park is the area “Signs of Fame”. Many national and international celebrities from show business, sports and politics have their own “Sign of Fame” in the Fernweh Park. I guess you all know Arnold Schwarzenegger, Denzel Washington, David Copperfield, Roland Emmerich and Boris Becker, just to name a few.

Hand prints of celebrities are presented in a similar manner as it is done in Hollywood.

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If you are interested in donating a sign, please contact us.
We will be glad to arrange the transportation of the sign to Germany -
at no cost to you!

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Link: Fernweh-Park /english

Fernweh-Park (German)

A City of Bradenton sign will join the thousands of other hometown, directional and unusual automobile, caution and other signs in the world-famous Fernwehpark sign forest in Hof, Germany.

Axel and Bea Weiss, formerly of Germany and full-time residents of Bradenton for the past four years, approached Councilman Patrick Roff about the idea during a Historic Wares Creek Neighborhood Association meeting.

Above, Bradenton Mayor Wayne Poston holds the sign with Bea (left) and Axel (right) Weiss.

They will be at the 6 p.m. Wednesday, Oct. 24, City Council meeting for a brief presentation.

The high level of inventory still presures sellers to lower the prices of their homes. Together with the actual conversion rate this makes Florida homes much more affordable for international investors. Watch out, there are a lot of bargains out there!

When you sell the property later after the market has picked up again, you can make a nice profit in appreciation. Additionally there´s a good chance to make a profit on the appreciated Dollar!

The increasing international demand itself will also have a positive influence on the market, which will help the local market to pick up again.

Don´t miss out – call us today for more information!

All real estate is local. That is the mantra for most real estate professionals. But not all buyers are local.

Did you know that

- 15 % of Florida Homes are purchased by Internationals?

- International Buyers spend 50 % more per home?

Nevertheless, according to the 2007 National Association of Realtors Member Profile, two third of Realtors had no business at all with international clients in 2006. Obviously this results in a lack of experience with international transactions.

International and out-of-state buyers are the buyers who drive our market today.

We know the differences and challanges in international transactions!

We actively attract international and out-of-state buyers instead of waiting for them to come to us.

With our strong connections throughout the US, to Europe, Asia and South America, we have established a broad network of phenomenal contacts and clients.

When you list your home with us, it is presented to prospective buyers from all over the world in addition to the local market.

Our goal is to sell your house the best and fastest way.

The combination of German precision, European quality and Floridian Lifestyle creates something unique – just for you.

This is the “International Advantage” we offer to our clients!