International buyers are taking advantage of local San Diego real estate even without the
pending green card bill. In the WSJ published this last October 2011
Foreigners have accounted for a growing share of home purchases in
South Florida, Southern California, Arizona and other hard-hit markets. Chinese and
Canadian buyers, among others, are taking advantage not only of big declines in U.S. home prices and
reduced competition from Americans but also of favorable foreign exchange rates,
foreigners who spend $500,000 in cash on U.S. real estate would be given visas.
To fuel this demand, the proposed measure would offer visas to any foreigner
making a cash investment of at least $500,000 on residential real-estate—a
single-family house, condo or townhouse. Applicants can spend the entire amount
on one house or spend as little as $250,000 on a residence and invest the rest
in other residential real estate, which can be rented out.
Many foreign home buyers from Canada, China,
Europe are interested in buying a second home in the United States, however
finding the information regarding tax laws, state real estate laws, and
properties can be a challenging task. The internet has certainly made the
process easier to view homes online, and the information online isn't always credible.
Foreigners are left to connect with a local real estate broker or realtor for
help and advice to purchase property here in the United States.
In San Diego, where the weather and quality of life already attract the masses is
garnering a large share of new residents from other countries. If this proposed
bill passes it is sure to increase the value of homes and pressure on the
inventory is certain. For those looking to get in, now is a great to time look
at San Diego Real Estate, ocean view homes, beach front homes, gated community
Many answers and details can be found on our international clientele page