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Old 06-15-2011, 06:49 PM
 
Location: Cape Coral, FL
646 posts, read 1,643,117 times
Reputation: 380

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http://www.cnbc.com/id/43410052

This is an article pointing out the Foreign interest in our Real Estate Market.

Investors from overseas have been in our market for a long time, it is a great place to vacation and have property to rent out too. Now the market is at the bottom or close to it, and you can an even better value for your money.

There are still great deals to be had. Remember when buying in this market, with Foreclosures or short sales, hire a good home inspector! Protect your investment. Educate yourselves.
Happy House Hunting!
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Old 06-15-2011, 07:06 PM
 
Location: The Conterminous United States
22,584 posts, read 54,311,326 times
Reputation: 13615
That's a great article. This is particularly interesting.

"I don’t think they’re so concerned about the prices dropping as they are about getting value for their money," says Rick Ambrose, a Coldwell Banker agent in Lake Mohawk, NJ.

It's good to get new blood, too. The only downside is the area relies heavily on a service economy and some foreigners are notoriously horrible tippers. When waiters rely heavily on tips for the salary - most only get $2.89 a hour - they could quickly be sunk.
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Old 06-15-2011, 07:11 PM
 
Location: Cape Coral
5,503 posts, read 7,338,959 times
Reputation: 2250
On the plus side, they will pay a larger portion of the property taxes since they can't qualify for any homestead exemption. I'll make up for the bad tippers.
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Old 06-16-2011, 10:53 AM
 
Location: The Conterminous United States
22,584 posts, read 54,311,326 times
Reputation: 13615
Don't get me wrong. It's REALLY good news. I was just trying to be even-handed and I was REALLY reaching.

The tip thing is more of a misunderstanding than anything. In Great Britain they don't tip but the waiters aren't paid slave wages. Bermuda wait staff loves me. I tip on top of their normal take.
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Old 06-16-2011, 11:03 AM
 
Location: Cape Coral, FL USA
616 posts, read 1,565,442 times
Reputation: 314
Quote:
Originally Posted by hiknapster View Post
Don't get me wrong. It's REALLY good news. I was just trying to be even-handed and I was REALLY reaching.

The tip thing is more of a misunderstanding than anything. In Great Britain they don't tip but the waiters aren't paid slave wages. Bermuda wait staff loves me. I tip on top of their normal take.
If only I didn't have to spread the rep around more...

The "tip" in European countries is already included in the meal price. I've actually had the servers try to return the extra tip.
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Old 06-16-2011, 06:20 PM
 
Location: Cape Coral
5,503 posts, read 7,338,959 times
Reputation: 2250
You would think that Europeans savvy enough to sniff out real estate in Cape Coral, USA would be smart enough to know that at least 15 to 20% tips are customary here.
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