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Foreign Buyers Interested in Vero Beach Homes for
Sale
Vero Beach Fl Foreclosures
The Treasure Coast has always attracted seasonal residents from
the Midwest and northern states. But lately, a different type
of buyer has started to purchase vacation and retirement homes
in Martin, St. Lucie and Indian River
counties.
“We’re only going to live here six months of the year,” said
Fran Stewart, a Canadian citizen who bought a single-family
home in Hobe Sound last month. “We spent three years touring
Mexico for property¥...¥but we decided on buying here. Real
estate there is very complicated to buy.”
Fran and her husband, Greg Stewart, purchased the home through
Janet McCullough, a Realtor with Prudential Florida Realty,
which carries listings from the tri-county region. “It was one
of the best-kept secrets for so long, but the Treasure Coast
has been discovered,” she said.
McCullough is taking several Certified International Property
Specialist (CIPS) courses to specialize in selling to
international buyers. And that forward way of thinking might
help boost her sales in the future.
International property buyers have started snapping up
properties across the Treasure Coast and they’re using local
Realtors to help them find their dream homes. Buyers say
favorable currency exchange rates and attractive prices have
made the Treasure Coast and Florida their top pick. The
phenomenon is not unique to the Treasure Coast and is probably
one of the few bright spots in Florida’s housing market.
From May 2007 to May 2008, the top three states for completed
international residential transactions were Florida, California
and Arizona, according to a new study from the National
Association of Realtors. Florida had 25.4 percent of the
foreign buyers nationwide with California coming in second with
8.9 percent and Arizona with 8.7 percent.
Local Realtors are now taking advantage of the region’s
favorable weather and image abroad to boost stagnant home
sales. “We’ve represented several Canadian buyers over the past
year,” said Sally Daley, broker and owner of Daly and Co.
Realty, which has listings across the Treasure Coast. “We’ve
been attuned to opportunities to represent Canadian buyers for
over the past year when the Canadian dollar reached parity with
our currency.”
Earlier this month, Daley showed several Vero Beach homes to
German couple René and Kirsten Jurk. At the same time, Daley’s
most recent Canadian clients, Bonnie and Harry Morrison, were
putting the finishing touches on their new home they bought
last May in Vero Beach.
“Over the years, we had gone to the Gulf Coast and after that I
told myself I would never come back to Florida again,” said
Bonnie Morrison. “Then we had a couple of friends talk about it
here. We came reluctantly to visit and just loved it.” Morrison
was also pleased to have RBC Bank, which has several branches
on the Treasure Coast, in her backyard.
by Florida
Association of Realtors - May 2009
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