America Real Estate
Looking to buy propertyin America? You might want to narrow down your search a little, as America is much more than one country (even though many “Americans” might say different!). From Canada to Chile, the Americas cover every landscape possible. From ice northern glaciers to muggy jungles, America is much more than just one country. Anyone seeking to invest in this area of the world would be well served to understand the differences between each region before embarking on any type of investment.USA Property
The US real estate market offers exponential possibilities for those willing to put in the time and effort. For example, the trend for investors to buy old and damaged homes and “flip” them for profit has never been more prevalent. In 2004, investors bought 23% of homes sold in the United States.
While the American market is promising overall, different regions hold different inherent marketability nuances. A few areas to consider are:
Perhaps no area is hotter for investment than the Phoenix area. In addition, the construction of a new highway, Loop 303, offers many potential investment hotspots for those willing to wait until the 2014 completion date.
Expect to spend a lot California. Last year alone, 25% of home sales in California were priced at over $1 million. For those who find the California market a bit intimidating compared to other USA property, there are many flexible financing options (ever heard of the 50-year mortgage?) that make purchasing here more affordable.
With some of the highest closing costs in the nation (over $2,000), expect to bring more to the table in Florida.
Every area has its own nuances, and New York is no different. When purchasing land in New York, plan on bringing your lawyer to closing, as the state requires it.
Washington—DC, that is—has one of the most potentially explosive markets in the country today. Renting DC property is substantially less expensive (59%) than owning, and property sales are rising in price at a whopping average of 15-20% each year.
Central America Real Estate
Costa Rica, arguably already past its peak, still has a large amount of waterfront land available for the savvy investor. For those looking to sink a little money into less developed areas with a lot of potential, Panama and Nicaragua still have miles and miles of pristine, undeveloped areas ripe for development. Be careful, though. Central America property does not always have free and clear title, and swindlers selling land that they don’t really own are common.
South America Real Estate
From Argentina to Brazil, South America property covers a wide range of socioeconomic and cultural terrain. As a result, many investors are capitalizing on the tourism and retirement boom of this wonderland. Even land and buildings in metropolitan areas—such as Rio de Janeiro—are quite inexpensive compared to other areas of the world. In some offbeat areas, land can be as little as $25 an acre, which is a bargain by any standards.
Caribbean Real Estate