International property investors and home buyers continue their quest to purchase Punta Gorda and South Florida real estate. Fortunately, Punta Gorda homes and properties are on their radar. The highly anticipated super-development, the Sunseeker Resort, just across Charlotte Harbor and the Peace River from Punta Gorda, will undoubtedly draw international buyers’ interest in our area real estate market. They will target Punta Gorda as a destination that offers high-value, luxury waterfront homes and profitable investment properties. Expect foreigners to flock to Punta Gorda to enjoy the same charm and quaintness of Punta Gorda.
International Real Estate Purchases Top $23.8 Billion
According to Lawrence Yun, chief economist and senior vice president of the National Association of Realtors® (NAR), in 2017 foreign buyers bought $23.8 billion in Florida real estate, more than double the figure from a decade ago. International buyers are flocking to Florida, and you can count on their real estate purchases to continue setting records.
Buyers Who Don’t Need Mortgages
Seventy-three percent of foreigners’ 2017 purchases were all cash, Yun said, because wealthy international buyers don’t need mortgages. Foreigners largely purchase high-end homes, and because statewide “builders have been under-producing,” our Punta Gorda market remains a target for prospective buyers. Couple this with the fact that Punta Gorda’s luxury-home inventory is extremely low, homeowners who decide to list and sell over the next several months will definitely earn the attention of prospective international buyers.
Cash In With Help From A CIPS
Working with a Realtor® who specializes in this unique market can make a world of difference. As a Punta Gorda based licensed Realtor®, I am also a Certified International Property Specialist (CIPS). The CIPS designation is for Realtors® from the U.S. and abroad who have invested in their professional development and have successfully completed comprehensive training, research and testing for international real estate transactions. Contact me to learn how I can create a marketing strategy and use my global network and expertise to help you receive top dollar for your property.
For a complimentary copy of the Florida Realtors® 2017 Profile of International Residential Real Estate Activity in Florida conducted by the National Association of Realtors® Research Group, email me.
Crystal Coovert is a Florida-licensed Realtor® at Michael Saunders and Company in Punta Gorda, Florida. Crystal is a member of the Punta Gorda/Port Charlotte/North Port Realtors® Association, Florida Association of Realtors®, National Association of Realtors® and is a Certified International Property Specialist (CIPS), a designation achieved by only a small percentage of Realtors® worldwide.
Crystal can be reached at (941) 322-7133.