The United States of America remains a leading developed nation with great opportunities and a positive outlook
It seems that the power house that is the USA is seeing signs of recovery in the once bludgeoned housing market and after almost three years of dropping prices many believe that the bottom is now being seen in the wider market.
Ten major US cities rose by 0.4% in May 2009 from the prior month, according to the S&P/Case-Shiller® Composite 10 (SPCS-10) house price index.
• A rise of 0.9% from the previous month in May 2009 was announced by the Office of Federal Housing Enterprise Oversight (OFHEO ), using a purchase-only house price index. The Pacific region registered average price rises of 2.7%.
Florida, knicknamed 'The Sunshine State' still remains a very popular place for European investors, benefiting from the rental opportunities created by Disney World, year-round good weather and easy access from Europe and especially the UK.
If you need a mortgage to fund your American home, the decision on whether to buy or not may be taken out of your hands as credit is becoming hard to get hold of in Europe as well as the USA. mortgage availability from US banks for foreign nationals has become tighter and this has affected the short term market. International Property Directory can assist you with your mortgage and we can get you pre approved before you look for the property.
Saying that bargains are to be had and it pays to ask the question. We always recommend dealing with large developers who have a track record of delivering and add to the confidence that any reservations will be dealt with in a professional manner and you have more assurity that you will get a quality product at the end of the day.
Even if you have the funds for the deposit, interest rates are not cheap. Despite the US Federal Reserve rate being priced at 2 per cent, variable rates on home loans start from 7 per cent, while fixed rates are higher still.
Lenders will also be strict on the amount you can borrow, given your income. US banks base loan sizes on affordability models rather than the traditional income multiples employed by many UK lenders, where your salary is multiplied by three or four times.
Saying all this we have superb facilities that can assist with mortgages, funding and any legal issues you may have. Contact us today to start your research into a USA Property.
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International Property Directory features international vacation rentals, property rentals, property investments, holiday homes, villas and vacation resorts plus commercial property, property developers, new homes, real estate agents, overseas mortgages, financial advisers, currency brokers, flights, car hire. International Property Directory, or any of its Agents, do not take receipt of any monies or sign contracts with investors. We operate independently, sourcing property investment opportunities for our interested parties. All contracts and monies are always handled directly with the property developer or owner offering the property. We always recommend our investors seek independent legal and financial advice before purchasing a property. International Property Directory can accept no liability for any damages or losses resulting from the purchase of one our listed Investment Opportunities. Site last updated
9/9/2010
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