Why are Canadians Buying Bonita Springs Real Estate?
National Association of Realtors has released statistics in a study that show that about one in five American real estate agents sold a second home in the year 2007 to a foreign buyer. Interest is up primarily due to: • The weak dollar giving foreigners more buying leverage. • American home prices are low compared to many other countries. • Excessive inventory in select locations creates choice and negotiating leverage. Buyers are coming from all over the world, but by country, a large proportion of buyers are coming from the United Kingdom (12%) and Canada (11%). Why does this matter to Bonita Springs or Estero, Florida home owners and home sellers? The study showed that: • 47% of foreign buyers were looking for a warm place to vacation. • 22% were looking for an investment. Canadian buyers are five times more likely to use their U.S. home for vacation use as opposed to rental investment use. The most popular state in the United States for foreign home buyers has been Florida. The Bon
