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Your Bi-Weekly Newsflash from
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A quick dash of news you need to hear
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Foreign buyers avoiding US homes
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 Almost half of international home buyers pay cash to dodge difficulty of securing a mortgage, survey finds.
Despite record U.S. home price affordability, international buyers
have been unable to take advantage because of the worldwide recession
and credit crunch, a real estate group said Tuesday. Home sales
to foreign clients dropped 9.4% in the year ended in May to 154,000,
according to a report from the National Association of Realtors (NAR).
Among
international clients who did purchase, almost half paid cash for their
property because securing a mortgage was more difficult than before,
according to the report.
The NAR report says more than 30% of international home buyers use
their U.S. property as vacation homes, and that triggers banks to
assume they pose a higher risk, said Maria McKee, chairwoman of the
Orlando International Real Estate Council.
Read on... |
| Fla. ranks No. 9 on credit risk index |
 Florida was among the top three states in the nation to experience the largest quarterly increase in the TransUnion Credit Risk Index - up 2.67 percent, to 147.64 in the second quarter from 143.80 in the first quarter.
Nationwide, Florida ranked ninth out of 50 states and the District of Columbia.
Year-over-year, Florida was among four states that had double-digit
increases - up 12.4 percent. The three other states with double-digit
increases - Arizona, Nevada and California - like Florida, took big
hits when the housing market crashed.
Read on...
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