Buy-to-let investors regain confidence in US markets
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by Gill Montia
Property investors are once more attracted to the US, despite the uncertain state of the housing market.
According to Carlo Walther, head of business development at property portal Rightmove Overseas, buy-to-let investors with UK portfolios are now looking at alternative options in the US.
The country’s ability to provide long-term rental opportunities, the recent recovery of the dollar and the government rescue of mortgage guarantee companies, Fannie Mae and Freddie Mac, have all increased confidence in the market.
The recent spike in interest is also connected to expectations that the dollar will continue to rise in the coming months, buoyed up by the interest rate cuts of the Federal Reserve.
Meanwhile, Propertyinvesting.net, the website dedicated to people interested in making money from investment property, is suggesting that the state of the California still retains a large number of very highly valued markets.
The state, along with Florida, has seen significant price falls recently but according to a report by real estate company, Coldwell Baker, of the ten most expensive markets in the US, eight are in California.
The firm is predicting that once the downturn in the US property market has run its course, investments in California will have a bright future.
La Jolla, Santa Monica and Santa Barbara are tipped as three of the most desirable cities in the entire US market because of their superior weather patterns and surfing potential.
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