Great deals in many states are attracting international buyers looking to  take advantage of our softer dollar. Some of the most popular states are Florida, California, Texas, Arizona, New York, Washington and Nevada, although international buying is not only limited to those states.

According to many full time Realtors, overseas buyers comprise a good portion of their revenue and this has increased even more in the last year.  Over half of prospective International buyers complete their transaction. Those who do not have concerns with the length of stay their Visa allows, property taxes or immigration laws.

Typical investments include single-family homes, condos or town-homes for vacation purposes, used on average 2-3 months of the year. Amazingly almost half of the transactions are completed with cash. The majority of the overseas buyers home countries are Canada, United Kingdom, Mexico, China, India and Germany.
 

According to a report by the National Association of Realtors, Canadians made up the largest percentage of foreign buyers of United States homes from May 2007 to May 2008 at 24%. One third of those buyers purchase homes in Florida.  The number of Canadian buyers of Florida homes has more than doubled since the previous year, going from 3,500 to 7,200. 

The new trends in home building are becoming more of a make it or break it in real estate deals.  Homebuyers are demanding more energy efficient homes and making smarter decisions when upgrading their existing homes. Items such as energy efficient windows and appliances have become a must rather than a want when searching for a new home. 

In addition to upgrades such as windows, appliances, weather stripping and upgrading older air conditioning and heating units, home owners are also changing outside landscaping to reflect the recent water restrictions and increasing cost of utilities. Low-maintenance landscaping is in growing demand, choosing plants that require less water and river rocks instead of grass.

Many are also moving towards smaller homes, the demand for interior space has decreased and the desire for outdoor living has increased.  Homeowners are expanding their living space outdoors with decks, porches and patios as well as some creating outdoor “rooms” with cooking and eating space.

The National Association of Home Builders (NAHB) is now offering builders, remodelers and other industry professionals the opportunity to earn the Certified Green Professional Designation.  This new designation is part of the National Green Building Program which also offers a home-rating system and scoring tool at www.nahbgreen.org. Earning the designation requires attending a 16-hour Green Building class, 8 hours of business management instruction and a minimum or two years of industry experience. Those individuals that hold the Certified Green Professional Designation must adhere to a prescribed code of ethics.

This historical home has been recently renovated throughout with special care to maintain its classic charm. The former home of John B Ford and his wife Mary Holland Ford; designed by renowned Palm Beach architect John Volk in the 1960’s. This luxurious oceanfront estate comprises of main house with 5 bedrooms, 6 bathrooms, 3 powder rooms plus a separate staff or guest apartment over the detached garage.  The house was renovated so that all of the major rooms offer a panoramic view of the ocean with all the finest amenities available.  This spectacular historic home is currently listed for $25 million. Contact Scott Gordon Realty at 561-533-5888 to schedule a showing.

Ask anyone why Florida remains so popular and opinions will vary wildly.  Most people will generally mention the many beaches, the sunny weather and the attractions that exist throughout the state such as Walt Disney World.  If we move down to the South Florida region, we already know Miami Beach is a major contributor to Florida’s appeal but it’s Palm Beach that arguably caters to the widest age demographic, among other cities.

Palm Beach real estate is popular with the older generation and boasts widely recognized names like Donald Trump while also offering beachfront properties for the young professional and investor wanting to live near the beach.  A few years ago however, most people found living in Palm Beach—and everywhere else in Florida—a little too much on the expensive side which subsequently drove many people to move elsewhere.

Baby boomers were among the groups of people who decided Florida was too expensive.  And while Florida can still be considered a little on the pricey side, the real estate market plunge it’s experiencing has made things substantially more affordable for people wanting to own beachfront condos in Palm Beach or a single family home by the water.  Baby boomers are looking for a place to spend their golden years and since prices in Florida have dropped so drastically, a lot of them may soon be calling it their retirement home.  While it may require some legwork, retirees can find very good deals on beachfront condos for over fifty percent less than its original asking price.

Palm Beach realtors would surely appreciate a surge in demand from baby boomers in order to help get them rid of all the existing property for sale but there is a potential problem that could arise if such a trend were to take place: as more and more young immigrants come into South Florida.  The large gap in age may cause public services to be spread too thin.  Chances are by the time a situation like that threatens to become a problem, there will already be a solution in place.

This historic 9 bedroom, 14- bath home designed by Addison Mizner is located at 780 S. Ocean Boulevard. Sitting on three acres with an amazing 268 feet of ocean frontage, Casa Nana features a guest home, basement with movie-theater, wine cellar and an ocean side cabana.

Casa Nana has set 3 sales records in its history, and is currently listed for $72.5 million. The list price has part to do with the historic value of the home and the immaculate move in condition and part to do with its location on 3 acres of prime Palm Beach oceanfront property. The last consideration in the list price is the comparable recent sales: the Kimmel house ($81.5 million) and the Trump Estate ($95 million).