Sell House Fast
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Sell Your House Fast
Sunbelt Real Estate Attracts Foreign Investors
Summary:
In December 2007, FastHomesolutions.com, a Tampa-based online property auction site, reported a surge in foreign investors seeking real estate bargains in the Sunbelt region of the United States. The weaker U.S. dollar has made these investments particularly appealing for international buyers, benefiting lenders eager to sell their REO (real estate owned) inventories.
Article:
Record Interest from Foreign Investors
Tampa, Florida, December 17, 2007 ?" FastHomesolutions.com is witnessing an unprecedented number of foreign investors visiting its site, drawn by real estate deals in the Sunbelt area. The current weakness of the U.S. dollar against other currencies has made these investments highly attractive to international buyers. This trend provides a favorable opportunity for lenders who are keen to offload their REO inventories to foreign investors.
A Boon for REO Asset Managers
Jim Case, CEO of Fast Home Solutions, highlighted the boom for REO asset managers as the site recently launched its online auction platform. "Investors from France, Germany, Belgium, the UK, Canada, and Australia are eager to capitalize on their strong currencies to buy U.S. properties," he stated.
With the British pound trading at over two to one against the dollar, private investors and investment groups are highly motivated to purchase. By pooling resources, they buy properties in targeted areas and hire local managers to handle them. "The Sunbelt, particularly Florida, is a hot spot for UK investors familiar with the area as a vacation destination," Case explained.
Embracing Online Auctions
For loan servicers and loss mitigation professionals, the surge in foreign interest is welcome news. Online auctions have gained popularity due to the efficiency they offer potential buyers. Despite the challenges of managing a high volume of properties, these auctions effectively showcase listings to a broader audience.
Case emphasized Fast Home Solutions' user-friendly approach, eliminating buyer premiums and adding valuable content on areas and property management to support investors.
The Half-Back Phenomenon
An additional challenge for REO managers is the "half-back" movement, where people are relocating from Florida to states like Georgia and the Carolinas due to rising insurance rates and property taxes. These sellers compete with REO listings, keeping prices low.
"The influx of foreign investors is essential for sustaining the market," said Case. With over a million opt-in emails sent weekly to investors, the demand for property listings is growing. The dollar's current weakness could ultimately benefit REO asset managers.
About Fast Home Solutions
Based in Tampa, Florida, Fast Home Solutions is a real estate auction platform leveraging the internet to connect REO agents, asset managers, and motivated buyers and sellers. Buyers can search, bid on, and acquire REO properties at no cost, while sellers can efficiently market their listings. Visit Fast Home Solutions at www.FastHomesolutions.com for more information.
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