Miami Home loan, and Element Funding, direct lending mortgage bank, found some interesting statistics are confirmed the last few months. If you are a potential homebuyer we find the international competition is still very strong in S. Florida according to the Miami Association of Realtors. Jim Carter, mortgage banker, reports on the findings of the report.
Real estate top target for Brazilians, who led all foreign the Miami Association of Realtors website in February and in 2014 made 11% of all .area international real estate deals, trailing Venezuela’s 16% and Argentina’s 12%, according to a survey by the of Realtors.
The study from October 2013 to September 2014 found about 68% of international buyers are Latin Americans. Top countries for purchasing Miami-Dade properties are Venezuela, Argentina and Brazil (tied for second), Colombia, France, Canada.and Mexico (tied for fifth), Italy and (tied for seventh) Peru, Spain, Ecuador, the Dominican Republic and Chile. The survey found foreign buyers spend moreon properties th–an domestic buyers in South Florida aa mean purchase of $444,000 compared with $245,000 for all Florida sales, and median of$215,000 in Miami-Dade. About 28% of foreign buyers bought properties for $500,001– up; they prefer condos in central or urban areas, which they use primarily for vacation and rental investments; and about 81% of foreign buyers paid cash. 1
So if you need a Miami Home Loan, and, are a foreign national or a domestic buyer, and, want to discuss financing options, please call me, Jim (James) Carter, from Element Funding, at 305-525-6742 to help you get the best financing solution. We at Element Funding, will help you with an exceptional Miami Home Loan.
1 Parts of this story was originally published in the Miami Today. April 16, 2015. Today’s News.