Foreign Investments in Real Estate Surge.

International homebuyers are eager to invest in the United States and may be willing to pay top dollar for your property. Foreign investment in US residential real estate hit a new high this year, driven by an increase in sales dollar volume from Canadian buyers, according to a new survey by The National Association of Realtors. Foreign buyers and recent immigrants bought $153 billion of residential property, which represents a 49% jump from last year.

International buyers who live outside the United States invested more than$153 billion of residential property, which represents a 49% jump from last year.  A recent survey reveals that China is still No. 1 in terms of sales dollar volume, but the overall boost in activity came from Canadian buyers. Transactions from Canadians this year more than doubled from last year, reaching $19 billion – a new high for Canada. Canadians are finding that US markets though expensive are actually more affordable than in their home country. Though home prices have been steadily rising, gains across Canada have been steeper, especially in Vancouver and Toronto.

Make your home or condo appealing to foreign buyers, you have to do a little more than hire the average real estate agent. Align yourself with a broker who has ties with foreign buyers. Ask brokers if they have the ability to place advertising in other countries and if they will have a website dedicated to the property with a virtual tour. Agents who specialize in working with foreign buyers normally list the property on websites that market homes for sale globally and nationally. Even if the property is listed only on Realtor.com, make sure there’s enough information and pictures on the listing to attract international buyers. Foreign buyers are looking for great pictures and videos of the property because most of the time they’re not here to physically see them. It is crucial to have your property listed for sale online with multiple photos and videos of the home and the neighborhood and or the complex. Prepare your home or condo for selling. First impressions count for everything. Pay attention to details, complete maintenance on your property, and declutter as much as possible.

There is a myth that foreign buyers will just come in with cash and pay more than what the property is worth, but that’s not true. They look for a bargain, like everyone else, and they look for properties that are easily rentable, in desirable areas, with high rates of return.  If you’re after a quick sale, be prepared to get engaged and be proactive.