Community Update

Foreign investors, who scooped up U.S. real estate during the 2007-2009
recession, are backing away from the same markets they so eagerly jumped into a
few years ago, Julie Haviv reported on Reuters yesterday.

Real estate
brokers say demand from international investors has flagged in locations that
have been most attractive to buyers -- markets such as San Francisco, Phoenix,
Las Vegas and Miami, Haviv wrote.

Many of those markets are back on solid
footing.  Plus, property prices have risen, while the dollar -- against the
Indian rupee in particular, and to a lesser extent the Canadian dollar -- has
appreciated over the past year, despite hitting a speed bump in recent weeks,
Haviv said.

As a result, real estate is no longer the bargain it once was
for foreigners.

For more: http://www.trulia.com/blog/ken_allen/2013/08/the_allen_report_higher_prices_sap_foreign_interest_in_...