Posts Tagged ‘international home buyers’

International Buyers of Arizona Properties Increasing

August 24, 2010

International buyers increasing in ArizonaMany interesting people walk through the doors of the Curtis Johnson Realty office, including an increasing number of international buyers. We have seen it, the Phoenix area culture is being influenced by it, and now the National Association of Realtors has confirmed it: Arizona is one of the top places that international buyers go when searching for their American dream home.

We mentioned the other day about the increasing number of Canadian buyers in the Phoenix market, but there are house hunters from other countries as well. Citizens of 53 other countries have purchased homes in the United States recently, with the largest numbers being from Canada, Mexico, the U.K., and China or Hong Kong.

Whether vacation homes, investment properties, temporary residences for holders of student or work visas, or permanent homes for new immigrants, 7% of the United States housing market is owned by a non-U.S. citizen. About 2/3 of their recent purchases have been single-family detached homes, most of which are being purchased to live in themselves or for a family member. The other 1/3 are probably investment properties and the owner may or may not reside in the United States.

International buyers are looking for bargains, as are many American buyers these days, but their buying power is greater on average. International buyers paid an average $219,400 for a home this year, compared to the overall price of $172,500.

Whether you are an American or a citizen of another country looking to settle in Phoenix or to invest in some choice properties, the Realtors with the Curtis Johnson Team can probably find you what you need. Contact the Curtis Johnson team, go to CurtisJohnsonRealty.com or call 1-888-Curtis-J.

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