Juicy Estates: Mortgage Blog

The Brazilian Invasion

On his “Midnight Ride” Paul Revere warned that “the British were coming”.  I am sure many of you remember the phrase ”one if by land two if by sea” which was the single given by lantern to communicate which route the  British troops were approaching from.

Well I don’t have a horse on which to ride nor a lantern to broadcast the chosen route but in this instance neither is needed as South Florida welcomes the tens of thousands of Brazilians scheduled to travel here over the coming summer months.  The Brazilian economy is red hot and many Brazilians will be seeking South Florida real estate bargains while they are in town.  During a recent conversation with one of the sales managers for Trump III it was purported to me that they expect to sell most of their remaining inventory this summer due in large part to the demand by Brazilian buyers.

The influx of foreign capital into South Florida has been one of the primary drivers of our real estate market historically and has certainly shortened the time frame of the recovery.  Demand for vacation homes and condominiums in our market has been on the rise and should continue its current trajectory as economies in South America recover and thrive.  Many of the foreign nationals that have purchased in South Florida over the past 12 months have been paying cash for homes and condominiums however financing is readily available.  With as little as 30% down foreign nationals can finance their single family home or condominium purchase thus enabling them to deploy their assets in other investments vehicles. 

It is going to be a very busy summer with the demand being created by both domestic and foreign national buyers and I for one, look forward to all the hard work.

This entry was posted on Monday, May 9th, 2011 at 1:01 pm and is filed under Home, Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Name

Email (will not be published)

Website