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Old 11-24-2012, 05:57 AM
 
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I read somewhere that 1/3 of new homebuyers are people from other countries.
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Old 11-24-2012, 08:48 AM
 
Location: Everywhere and Nowhere
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Quote:
Originally Posted by slowbill View Post
I read somewhere that 1/3 of new homebuyers are people from other countries.
Where's somewhere?
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Old 11-24-2012, 09:40 AM
 
Location: Las Flores, Orange County, CA
26,338 posts, read 93,446,398 times
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"In reference his own experience, Wright said, “Out of 14 offers for properties, 11 are from foreigners. They are generally purchasing homes in the $500k to $600k range.”"

from

Foreigners Buying Up America

"International buyers made up 5.8 percent of sales in 2012, largely unchanged from 5.7 percent in 2011. "

from

6 in 10 homes on the market get multiple offers - Lansner on Real Estate : The Orange County Register

Asian Buyers Buoy New-Home Demand in California
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Old 11-24-2012, 11:41 AM
 
Location: Everywhere and Nowhere
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Originally Posted by Charles View Post
It does make me feel better knowing that by buying all that cheap junk at Wal-Mart I'm helping boost real estate values.
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Old 11-24-2012, 05:59 PM
 
82 posts, read 131,067 times
Reputation: 91
Quote:
Originally Posted by Charles View Post
"In reference his own experience, Wright said, “Out of 14 offers for properties, 11 are from foreigners. They are generally purchasing homes in the $500k to $600k range.”"

from

Foreigners Buying Up America

"International buyers made up 5.8 percent of sales in 2012, largely unchanged from 5.7 percent in 2011. "

from

6 in 10 homes on the market get multiple offers - Lansner on Real Estate : The Orange County Register

Asian Buyers Buoy New-Home Demand in California
A very dear friend of mine who is a top realtor in OC (they truly are) and it was explained to me that the market has turned so much that when it comes to short sales, the realtors don't even bother to list the homes. They go directly to their investor list and 9 times out of 10, the property is bought by one of the investors. No need to list or spend anything on marketing. s is more common than the general public realizes.
Great for the short seller, great for the realtor but not so great for the buyers who are not investors.
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Old 11-24-2012, 08:15 PM
 
Location: Everywhere and Nowhere
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Quote:
Originally Posted by ohboywhatamess View Post
A very dear friend of mine who is a top realtor in OC (they truly are) and it was explained to me that the market has turned so much that when it comes to short sales, the realtors don't even bother to list the homes. They go directly to their investor list and 9 times out of 10, the property is bought by one of the investors. No need to list or spend anything on marketing. s is more common than the general public realizes.
Great for the short seller, great for the realtor but not so great for the buyers who are not investors.
Great for renters too.
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Old 11-24-2012, 08:34 PM
 
11,715 posts, read 40,324,847 times
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Originally Posted by CAVA1990 View Post
Great for renters too.
Why? So they can keep having their rent raised every year by these investors because they can't buy a place of their own?
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Old 11-24-2012, 08:49 PM
 
Location: Everywhere and Nowhere
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Quote:
Originally Posted by EscapeCalifornia View Post
Why? So they can keep having their rent raised every year by these investors because they can't buy a place of their own?
Simple. The investors have to rent to someone. The additional demand for homes should also stimulate home construction sooner, resulting in a larger overall supply that will put downward pressure on home prices and rents. You really do want to clear out all the short sale and foreclosure inventory to get home construction going again.
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Old 11-24-2012, 08:52 PM
 
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Quote:
Originally Posted by CAVA1990 View Post
Simple. The investors have to rent to someone. The additional demand for homes should stimulate home construction sooner resulting in a larger overall supply that will put downward pressure on home prices and rents.
And in an area as built-out as OC, those new homes will have no yard, be 4' apart, $400/mo HOA, and have a big sign out front reading "From the low $600,000's."
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Old 11-24-2012, 08:53 PM
 
Location: Everywhere and Nowhere
14,129 posts, read 31,128,110 times
Reputation: 6920
Quote:
Originally Posted by EscapeCalifornia View Post
And in an area as built-out as OC, those new homes will have no yard, be 4' apart, $400/mo HOA, and have a big sign out front reading "From the low $600,000's."
I predict they'll cost whatever the market will bear.
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