Cash sales, foreign investors drive down mortgages in Florida

In 2012, Florida had the largest number of international buyers at 23 percent, followed by California at 17 percent, Arizona and Texas both at 9 percent and New York at 3 percent. According to the National Association of Realtors, about half of 2012’s foreign buyers purchased homes in suburban areas and 25 percent opted for homes in more urban areas.

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If you are in the market to buy real estate abroad, chances are you won’t be able to secure a local mortgage to finance the property. Even in places where mortgage lending exists, the terms may.

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FOREIGN REAL ESTATE INVESTORS The United States values the entrepreneur spirit and drive above all else, and here at Socotra Capital, we understand foreign interest in the U.S. intimately. Both principals of Socotra are the sons and grandsons of immigrants. The same is true of much of our staff as well.

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