Whether in California, Tx or Florida, the much needed boost in the housing market may very well come from outsiders ready and equipped to buy homes and property set up for foreclosures. Federal property laws vary from state to convey, but most do allow outsiders or non-resident US aliens to purchase real estate property in the united states.
The Western european market as well as residents from the uk are popular targets of realtors. Other foreign nationals including those from the Middle uae visa approval East like Dubai, Kuwait and UAE are also popular buyers of us homes.
Dubai and other Middle East nationals and residents who have gone vacationing in the united states will most likely find the US housing market a very lucrative investment. For the business minded and for the wise investor, the right time to create a real estate purchase is when there is a huge supply in the market. The economic suffering that the housing market has found itself in has led to a huge method of getting homes at values that are just it was three to five years ago. This is primarily true in California, Florida, Nevada and Tx.
There are several in foreclosure homes in the market as well as several homeowners who are finding it difficult to maintain with payments. Lately, many homeowners would like to ignore mortgages and loans and are opting to short sell at bargain prices. Chances are, motivated buyers, especially foreign nationals, would be getting a good bargain for their dream homes.
Data Quick Information Systems in the united states revealed that in the second one fourth of 08 or from April to August of the current year, over 118, 020 default realises have been posted out to you. This is a substantial 125% increase in comparison to the same period of last year. Moreover, this is the highest number of default realises issued since 1992.
Because of the economic situation, banks and lenders have become more open and lenient in giving out loans to non-US residents and foreign nationals. Foreign nationals can acquire loans just as an American investor can get a difficult money loan without showing much credit information. All that is essential is to show substantial collateral and interest.
Foreign nationals looking to invest in the united states housing market have no need for any green card, good credit standing, credit card records or even a visa. In most states, foreign nationals, including those from the Middle East or Dubai need just to put forward a least 35% of the home sticker price as a downpayment. However, if investors put in as much as 50% of the sticker price as downpayment, a dramatically reduced rate of interest and flexible payment schemes will be offered.
For foreign nationals who want to invest in the united states housing market, indeed the number of choices are endless and the opportunities, very much enticing. Whether you live in Europe, the uk, the middle East, Dubai or Asia, go right ahead and consult with a licensed real estate agent now and open the entranceway to a real estate investment of your dreams you will not regret.