Coronado – A Global Real Estate Marketplace

We live in a global marketplace.  While all real estate is local, not all property buyers are.   A significant share of home purchases is made by people whose primary residence is outside the United States.  The strength of the dollar, perceptions about trends in the U.S. real estate markets and general economic trends impact international transactions and home sales.  Foreign purchasers buy U.S. property for investment, vacation, and locational reasons. Since March 2010, $82 billion is the value of property sold to international buyers. 

According to the National Association of REALTORS® (NAR) International buyers came from a total of 70 countries.  The top five countries were Canada, Mexico, China, U.K. and India.  Homes in Coronado were sold to buyers from these countries mainly because of its proximity to their home country, climate and the convenience of air transportation from San Diego International airport. 

There are a variety of reasons motivating the purchase of U.S. residential property.  Homes in this country are less expensive than comparable foreign properties, are viewed as a secure investment, and provide rental and long term appreciation possibilities.  Location, security, and profitability are important factors influencing purchasers.

The biggest problem for international customers appears to be the transfer of assets internationally for the house purchase and/or obtaining the mortgage.  In selecting your listing agent it is important for you to choose a REALTOR® who has experience in working with International buyers and is a Certified International Property Specialist.  Given differences in culture, customer needs and negotiation styles it is imperative that a buyer’s agent as well as a listing agent know how to relate with international clients.

I’ve served on the International Real Estate Forum for the past three years at California Association of REALTORS®.  This year I am Chair of the Global Real Estate Council (formerly International Real Estate Council) at San Diego Association of REALTORS®.  I feel that it is important to network with REALTORS® worldwide.  In fact, one of my connections is Macarena Rose from Rain Forest Realty in Belize.  I met Macarena several years ago during a CIPS reception at the National Association of REALTORS convention.  Not only is Macarena a fellow CIPS, she is also the Immediate Past President of the Belize National Association of REALTORS®, current Vice President of the Belize Land Owners Association and the National Association of REALTORS® Instructor for CIPS.  Perhaps you have heard of Macarena Rose.  She’s been featured in three House Hunters International episodes on HGTV.

If you are interested in learning more about the Coronado's International Real Estate market, please call me directly or visit www.coronado.org.

Expect More Than A Home.....Create A Lifestyle In Coronado!®

Gerri-Lynn Fives, ABR, CIPS, CNE, CRS, GRI, RSPS, TRC
REALTOR® / Broker Associate
Prudential California Realty – Coronado
(619) 813-7193 Direct
DRE# 01274657
JustGL@CoronadoCays.com
www.CoronadoCays.com®