Every time the Argentine orBrazilian economytakes a plunge, Miami real estate agents see a wave of people flying north looking for a safer place to invest their money. Whenever global oil prices fall, Russians and Venezuelans start showing up. Vacationers from Europe buy properties to serve as winter retreats.
"And there's now for the first time quite a lot of activity coming from Asian buyers, especially Chinese," Foley said.
One clear indication of foreign purchases is the number of Miami homes being bought with cash. As much as 70% of total home purchases in the Miami area were cash sales in March 2012, according to real estate research firmCoreLogic. That was down to 58% in December, but still well above the national average of 35.5%.
Terrabella Realty is a boutique operation with over 1 Billion dollars of closed sales over the past 10 years, We have experience in the South Florida real estate market and we have developed strategic alliances with Real Estate Firms in foreign countries like, Argentina, Colombia, Venezuela, Mexico, Ecuador, Canada, Russia, France, England and Israel, to name a few. We have over 80 sales associates ready, willing and able to assist on the sale of your property and we are experienced enough to help you price it right.
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