As published in Scotsman Guide's Residential Edition, July 2005.
In a time of market changes, more originators seek ways to extend their business boundaries. Wider arrays of products are emerging as solutions. Forecasters continue to take a positive-yet-cautious view of mortgage lending and recognize that flexible offerings continue to change and improve the industry.
Programs that are geared to international borrowers also are gaining popularity rapidly. Many U.S. regions are attracting savvy, foreign-national buyers to purchase second homes and investment properties. Realtors, mortgage originators and lenders are finding a wealth of opportunity in meeting these buyers’ mortgage needs.
A strong currency-exchange rate and a robust housing market provide an attractive avenue for foreign investors — especially our European and Latin American neighbors. These factors help the buyers create equity and wealth in American real estate.
Real-estate investments provide for-eign nationals with significant returns on equity and wealth-building opportunities. Although some foreign buyers purchase high-end homes, many prefer the convenience of condominium ownership. Condominium ownership provides these buyers with an upscale environment plus benefits such as on-site maintenance and security that can accommodate foreign homeowners’ travel schedules. Areas with a good saturation of this property type are in highest demand.
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