Foreign Investors Examine Florida Real Estate

Overseas investors are increasingly drawn to real estate here in the US,
and in Florida in particular. According to an article from the Associated
Press, foreign buyers are attracted to Florida real estate by low mortgage
rates and the relative weakness of the dollar.
<blockquote>The weak dollar played a role in Howard Gould's decision to
purchase a four-bedroom, three-bathroom home in Kissimmee, near Walt
Disney World, for $260,000 last September as a rental-home investment. The
Briton wasn't deterred by three hurricanes that had passed recently
through the region. "We bought at what we thought to be a good exchange
rate," said Gould, a director of a turnaround and management company in
Leeds, England. "We chose Florida because we like it there. We thought
property, at least in that particular area, would appreciate at a fast
rate."<br/><br/>
Mortgage rates are also a draw. While 30-year fixed rate mortgages hit an
eight-month high of 6.04 percent at the end of March, they have retreated
since then and are still quite low by historical standards.</blockquote>