In a broad show of support for increased scrutiny of foreign real
estate buyers in the United States, 17 nonprofit organizations on Tuesday urged the Treasury Department to require that the real estate industry verify the identities of buyers and screen them for potential money - laundering risk.
Rick Sharga: We've been tracking the enormous interest in U.S. properties by Chinese investors — last year, Chinese investors were the second - largest group of foreign real
estate buyers in America, second only to Canadians — and have been exploring ways to reach these investors more effectively and efficiently.
In a bit of housecleaning, the regulatory body for Nova Scotia's realtors is now making it mandatory for more real
estate buyers in this province to enter into buyer brokerage agreements.
Veristone is still providing the same quality and quantity of specialty financing to real
estate buyers in King, Pierce and Snohomish County.
Moreover, the proportion of real
estate buyers in Miami that are foreign is much higher than in other US cities.
On August 2, 2016, British Columbia (BC) introduced a new 15 % property transfer tax on foreign real
estate buyers in Vancouver, intended to calm soaring prices in the province.
In a surprise move, British Columbia introduced a new 15 percent property transfer tax on foreign real
estate buyers in Vancouver on Monday, action intended to calm soaring prices.
Given the 15 % property transfer tax on foreign real
estate buyers in Metro Vancouver, though, British Columbian's should not expect a flock of Trump exiles to re-fuel Metro Vancouver housing market anytime soon.
The number of foreign real
estate buyers in IOUSA has increased dramatically since the late»90s.
Juwai.com's new CEO Carrie Law sat down with Australia's premier business news programme The Business on ABC News to discuss the future of Chinese real
estate buyers in Australia (1... Ler mais >
Not exact matches
Last week, online Chinese real
estate investment platform Uoolu.com released a guide for Chinese
buyers interested
in North Korean real
estate, while popular accounts on the mobile messaging app WeChat have been posting articles about the country's housing market
in recent weeks.
CNBC's Diana Olick reports on why sellers are stripping their real
estate property
in order to make it more appealing to
buyers.
Tal says his unscientific research into the subject — consisting mainly of a recent dinner with over 20 real
estate brokers and agents who deal exclusively with foreign
buyers — led him to believe the number of «pure» foreign purchasers
in the Canadian real -
estate market is «probably much smaller than perceived by many.»
While real
estate is on sale, and
buyers struggle to fund transactions, self - directed account owners are purchasing property
in their IRAs and 401 (k) s.
Real
estate agents are fielding calls from
buyers in Alberta who are snapping up property for personal use and business development.
Tim Syrianos, president of the Toronto Real
Estate Board, said the decline
in activity has less to do with foreign
buyers and more to do with potential homebuyers waiting to see how the market plays out.
Good is tapping into his network of Asian
buyers — Key has offices
in Hong Kong and Beijing — and demand
in the People's Republic for Canadian real
estate.
In the multimillion dollar real
estate market, there's a few other features sought after by wealthy home
buyers that are beyond the reach of most Canadians.
Demand for mortgages
in December saw an uptick, with national sales up 4.5 per cent according to the Canadian Real
Estate Association, as
buyers scrambled to snap up homes before Jan. 1.
«Rising interest rates and stricter mortgage requirements have reduced home
buyers» purchasing power, particularly for those at the entry level of our market,» Jill Oudil, president of the Real
Estate Board of Greater Vancouver, said
in a statement.
«Most [purchasers] are returning to Vancouver as the market is hot even with the foreign
buyer tax,» according to Parham Mahboubi, vice-president of planning and marketing at Qualex - Landmark, a real
estate development group
in Vancouver.
Online searches don't always translate into sales, of course, and some
in the real
estate are skeptical foreign
buyers will turn up
in a big way.
The Real
Estate Board of Greater Vancouver released the data a month after the British Columbia government implemented a 15 - per - cent tax on foreign
buyers in Metro Vancouver
in an effort to chill one of the hottest markets
in North America.
Homes
in the Silicon Valley city typically sell for 110 % of the list price, and
buyers put down 20 % of the sale price for the down payment on average, according to the real -
estate site Redfin.
«I've had
buyers who are looking for places
in New York, but specifically said they don't want to live
in a Trump building,» adds Daniel Neiditch, president of New York — based River 2 River Realty, a luxury real
estate brokerage, landlord, and developer.
Dolly Lenz, a luxury real
estate agent and founder of Dolly Lenz Real Estate in New York, who has sold many units in the Trump Tower over the years, concedes that the frenetic scene is a turnoff to some potential b
estate agent and founder of Dolly Lenz Real
Estate in New York, who has sold many units in the Trump Tower over the years, concedes that the frenetic scene is a turnoff to some potential b
Estate in New York, who has sold many units
in the Trump Tower over the years, concedes that the frenetic scene is a turnoff to some potential
buyers.
Over time, a real
estate buyer typically pays more
in interest to their mortgage lenders than the original purchase price paid to the property seller.
My prediction is that as international waters remain choppy and uncertain with Brexit potentially looming and this nutty «race to the bottom» with interest rates, international
buyers will continue to park portions of their assets
in valuable real
estate, keeping the major US markets growth steady.
I don't know what trickle - down affect that has on the lesser US markets, but my guess is that a rising tide will lift all boats as domestic investors may seek real
estate opportunities
in less tapped domestic cities rather than compete with international
buyers.
A real
estate licensee may assist the
buyer in that review, but inspection of property for defective products, systems, fixtures or materials is beyond the scope of expertise of a real
estate licensee.
The group that loses out the most from the sale of residential real
estate to foreign owners is everyone who works
in the Vancouver area and earns Vancouver wages, but has to try to find housing
in a market distorted by
buyers who don't work
in the Vancouver area and earn Vancouver wages.
Now the astute observer might point out that the bulk of the decline
in sales was seen
in areas popular with
buyers from mainland China — which also happens to be the main region that most believe is the source of the majority of the foreign capital flowing into our real
estate market.
Buyers are starting to see for the first time
in a long time — that real
estate prices can actually go down.
According to the National Bank of Canada, Chinese
buyers is estimated to have bought up one - third of Vancouver homes
in 2015 — accounting for $ 12.7 billion out of the total sum of $ 38 billion invested
in Vancouver's residential real
estate.2
Tal says his unscientific research into the subject — consisting mainly of a recent dinner with over 20 real
estate brokers and agents who deal exclusively with foreign
buyers — led him to believe the number of «pure» foreign purchasers
in the Canadian real
estate market is «probably much smaller than perceived by many.»
However,
in some counties with pricey real
estate, the conforming loan limit is as high as $ 636,150, meaning that
buyers can take out mortgages up to that amount before their mortgage is a considered a jumbo loan.
Disclaimer * The information contained
in this report references Canadian property enquiry data submitted by potential real
estate buyers from China on Juwai.com
in 2016, qualitative research on prospective purchasers from the largest centres of mainland China, market insights from Sotheby's International Realty Canada and market data from MLS boards across Canada.
Hughes Marino, an award - winning commercial real
estate firm exclusively representing tenants and
buyers, announced that it has completed a 104,166 SF lease with Clutter, a full - service storage company that operates
in seven major cities nationally.
China to Canada: International Home
Buyer Insights *, a report released by Sotheby's International Realty Canada and Juwai.com, reveals new insight into prospective homebuyers from mainland China, including trends
in target pricing, motivation, and levels of interest between conventional and top - tier real
estate in Vancouver, Calgary, Toronto and Montreal.
China to Canada: International Home
Buyer Insights is based on Canadian property enquiry data submitted by potential real
estate buyers from China on Juwai.com
in 2016, qualitative research on Juwai.com users from the largest centres of mainland China, and local market insights from Sotheby's International Realty Canada.
Agents claim there has been a sharp increase
in private — or board room — auctions where a handful of serious
buyers, or their representatives, make bids
in an office, typically a real
estate agents» board room.
Property prices
in recently top performing inner suburbs of Melbourne and Sydney are being «belted» by up to 10 per cent as banks slam the brakes on lending
in response to tougher regulatory scrutiny and the banking royal commission, according to real
estate and
buyers» agents.
While real
estate transactions
in the aggregate are very frequent, for individual
buyers and sellers they are very rare.
Interest from China
in Vancouver real
estate listings worth more than $ 1 million is down sharply, but local
buyers shouldn't get too excited.
This is a confusing experience for the real
estate industry, sellers, and
buyers, since prices have ballooned for 18 years, interrupted by only one brief dip during the Financial Crisis, and the rule has been that prices will always go up and that you can not lose money
in real
estate.
There is a surplus of commercial real
estate for sale
in today's market which offers some great opportunities for
buyers and borrowers.
A recent report from the real
estate data company Trulia revealed that home
buyers in many cities are dealing with very limited inventory.
Given the current inventory situation, home
buyers entering the Phoenix real
estate market during the latter half of 2017, or
in 2018, should be prepared for stiff competition.
As temperatures
in many parts of Canada finally start to rise after a muted spring, enthusiasm and hope are also rising among real
estate buyers and sellers.
In Ottawa, a nervous government implemented new regulations for insured mortgages in an effort to slow down the Vancouver and Toronto markets — and came under fire from Realtors in places like Saskatoon, where the local real estate association says the new regulations have seriously hurt would - be home buyer
In Ottawa, a nervous government implemented new regulations for insured mortgages
in an effort to slow down the Vancouver and Toronto markets — and came under fire from Realtors in places like Saskatoon, where the local real estate association says the new regulations have seriously hurt would - be home buyer
in an effort to slow down the Vancouver and Toronto markets — and came under fire from Realtors
in places like Saskatoon, where the local real estate association says the new regulations have seriously hurt would - be home buyer
in places like Saskatoon, where the local real
estate association says the new regulations have seriously hurt would - be home
buyers.