3 minute read
Global Business Council
Will You Be Ready?
By: Vicky Huberty, Realtor®, RE/MAX Alliance Group
In a new survey from the National Association of REALTORS® (NAR), foreign property buyers purchased $74 billion worth of U.S. existing homes from April 2019 through March 2020; a 5 percent decrease from the previous 12-month period. Although this is a decrease and does not encompass the dates and effects of our current pandemic, Florida can remain optimistic about future foreign buyers based on historical geographical trends. According to NAR’s 2020 Profile of International Transactions, for the 12th straight year, Florida remained the top destination for foreign buyers, with 22 percent of all international purchases happening here in our state. TOP 5 DESTINATIONS Florida (22%) California (15%) Texas (9%) New York (5%) New Jersey (4%) TOP 5 FOREIGN BUYERS China ($11.5 B) Canada ($9.5 B) Mexico ($5.8 B) India ($5.4 B) Colombia ($1.3 B) “While we’ve seen a recent softening of demand, interest in U.S. real estate from international buyers remains strong overall, especially in the most affordable metropolitan areas,” said NAR President Vince Malta.
On a local level, according to tax records in Manatee and Sarasota counties, from April 1, 2020 to August 31, 2020 (post pandemic onset), there were 104 foreign buyer transactions. In comparison, there
were 231 for the same time frame in 2019. While this is a softening of demand, it is certainly not a halt.
The unfortunate economic situations of loan forbearance and eviction moratoriums will lead to many investment opportunities for both foreign and domestic buyers. Given the current difficulty and risks posed by traveling, many foreign buyers are holding off and may want to see properties in person before they purchase. But when they come...Will you be ready?
UPCOMING GBC CLASSES: Be sure to join us for the 2020 CIPS Institute! Take this course as your next step toward earning your Certified International Property Specialist designation. The
5-Day Institute starts on October 22. •
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Employee Anniversaries
RASM happily recognizes the workplace anniversaries of our professional staff.
Cassidy Miller, Professional Development
Coordinator, celebrates her second year with the Association this month. Cassidy works with Denise Ricciotti, Professional Development Manager, to promote the educational programs and professional development courses that RASM proudly offers its members.
A Sarasota native, Cassidy keeps busy tending to her small farm of cows, chickens, ducks, and her beautiful horse, Delta. In her free time, she enjoys spending time with her husband and their two dogs. She has recently taken up dirt biking!
Cassidy also volunteers with the SRF Rural Disaster Relief Group, taking farm supplies to areas that have been devastated by disasters.
Peter Den Uijl, Facility Coordinator,
celebrates his third year with RASM in October. His responsibilities include general hospitality duties, cleaning, and overall building maintenance of the RASM South building. Peter is committed to his job of cleaning and sanitizing the building, especially during these challenging times.
Peter enjoys the diversity of RASM members, maintaining the RASM South building, and providing the best services for all RASM members.
In his free time, Peter loves to explore all that Florida has to offer. Traveling with his wife and 11-year-old daughter is Peter’s true passion, and his family is always ready for their next adventure. RASM thanks our dedicated staff. We can’t do what we do without our dedicated staff! •
5-DAY INSTITUTE CIPS Institute Schedule Sarasota, 8:30 AM - 5 PM | RASM SOUTH Florida
April (2320 Cattlemen Road, Sarasota, FL) 3-7, 2017 OCT 22 | Global Real Estate Local Markets Instructors: OCT 26 Global : [Month/Day]: | Global Real Estate Transaction Tools Real Estate: Local Markets Carla Raymann-Kidd OCT 29 The Business of U.S. Real Estate : [Month/Day]: | Americas & International Real Estate Patricia Tan NOV 2 Europe & International Real Estate : [Month/Day]: | Europe & International Real Estate Members: $50 per class / $150 for Full Institute NOV 3 The Americas & International Real Estate : [Month/Day]: | Asia Pacific & International Real Estate Non-Members: $100 per class : [Month/Day]: Asia/Pacific & International Real Estate
