Low US Dollar Advantageous for Buying Property in America

The fall in property prices in the US along with the low US dollar is good news for overseas property investors, with bargains on offer throughout most of the country.
The near collapse of the property market in America means overseas property buyers can pick up some huge bargains, and once the market recovers these prudent purchases will equate to big bucks.
In October, average house prices in the States fell sharply by 9.7% to £114,882 with sales down by 8%, the largest drop since January 1998. Property reports show that now is the time to buy in the US especially as you can purchase a four-bedroom villa near Orlando, Florida for £120,000 with the best buys within water or beachfront luxury developments.
Paul McMullen of Escapes2 comments, "Pockets within the States are also performing differently. To some extent, Florida has been insulated, as 30% of sales in hot-spot areas are to foreigners," he says. "But prices on resale homes in Orlando have taken a battering, down 30% in the past 18 months.”
Washington, Oregon, North Carolina, and select parts of Florida have remained stable with capital appreciation realised. The main risk areas have been identified as Mississippi and Louisiana, with resale properties hit hardest.
American property agent Christopher Wright comments, "Late-to-the-game speculators are likely to be penalised. Those applying the 'good things come to those who wait' principle, stand a good chance of turning a profit" suggesting that overseas property investors should be in the market for the long haul as opposed to a quick hit.
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