Are the Chinese Next?

Its no secret that there are huge bargains to be had in the foreclosure markets of the United States. New home builder in Las Vegas are practically giving their inventory away in order to compete with the massive number of foreclosure properties on the market. With over a half a million jobs lost last month, the number of foreclosures may not be going down any time soon.

These numbers haven't been lost on foreign investors. Earlier this year, I had written an article about the influx of Canadian real estate buyers snapping up property here in Las Vegas and other foreclosure heavy markets like Phoenix. I was reading an artice in the Financial Times about a Chinese real estate company with the biggest real estate website in China, SouFun. The company has organized a trip to the US that would focus on California, particularly San Francisco and Los Angeles and possibly Nevada to invest in real estate. So far the company is concentrating on areas that have high levels of Chinese population, hopefully making the area more comfortable for their clients.

Given that criteria, certain parts of the Las Vegas valley could certainly qualify. Home buying for someone living outside of the US is a little more complicated. If you are considering buying a home in the US, I have assisted several international clients buy property here. Call me at 702-493-8033 and I will be happy to assist you. Thanks for reading the Las Vegas Real Estate News Blog.

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