International property buyers interested in entering the property market in America are being advised to do their research before sending any money via online money transfers and that they should make research the top of their priority list.
Speaking about the advice, the director of Mayfair International Realty, Annette Reeve, said: "Before you commit to a property, check very carefully to make sure that you can let it out. A lot of people do buy in America assuming that when they are not using it they can let it out commercially and it can come as a nasty surprise when they can't. Do you research first and make sure that you can afford it pretty much come what may."
Ms Reeve's comments come after data was released by the National Association of Home Builders showed that 80 metropolitan areas within 32 states located across the country are starting to see a rise in the number of housing markets available in recent months. Miami and Palm Bay in Florida are listed as some of the biggest movers when it comes to new property developments, followed by Terra Haute in Indiana and Lubbock in Texas.
Although the economy in general across America has slowed somewhat in the last few months, the housing market has seen consistent gains in all areas; this is bringing added optimism to the sector. A senior portfolio manager for a Strategic Bond company claimed that the Federal Reserve is likely to try and avoid further quantitative easing as the housing sector continues to flourish following the global housing market crash, and expects international buyers to start showing a renewed interest in property in the US.
