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With a softer dollar and lower home prices, the United States is drawing international buyers in a big way. According to the 2008 NAR Profile of International Home Buying Activity, between 150,000 and 190,000 homes were sold to international buyers between May 2007 and May 2008. Here are some highlights from NAR's report:

- International buyers purchased properties in every U.S. state

- States most popular with international buyers: Florida, California and Texas

- Four in 10 international buyers paid for their home in cash

- Over 14% of properties sold to international buyers sold in excess of $750,000

- Canadian buyers doubled from 11% in 2007 to 23.05% in 2008

- Of the realtors surveyed by NAR, 26% served international clients in the past year

What does this mean for U.S real estate agents? If you haven't already, broaden your horizons and start thinking globally, not just locally. If your farm isn't providing the business it used to, why not try something new? Use the Internet to start networking and marketing to this new stream of eager buyers. You just might find yourself a new, comfortable niche.

By Danielle Macklin, Allied Schools, www.brokerlicense.com

Labels: California Real Estate Broker, Real Estate Agent, real estate buyer, real estate market

Posted by Danielle Macklin @ 4:15 PM • 0 comments