Blog by Daniel Bollinger, Article by Realtor Mag
I read this little article in realtor mag.org and I wanted to share it with you. If Detroit signals any kind of trend of what Chinese buyers are looking for then these next 13 areas of the US are ripe for advertising to the Chinese.
Please follow these link below to an article on how Chinese bought up Detroit when it was discounted.
http://www.forbes.com/sites/gordonchang/2013/12/08/chinas-newest-city-we-call-it-detroit/
Some highlights from the article above:
““While the bankruptcy is viewed as a bad thing elsewhere, it raised the exposure level of Detroit’s real estate market in China,”says Evonne Xu”
“Chinese shoppers can’t resist a bargain.”
“Moreover, Chinese purchasers are making bulk purchases of “inexpensive properties”—those selling for $25,000 or less—in the rings surrounding the city center.”
If there are any real estate agents or brokers that have properties in the 13 cities listed below I would recommend investing in Jinti’s digital market services to advertise your listings. If the cities below are anything like Detroit I think there is a great opportunity here.
Daniel Bollinger - 718-662-9493 - This email address is being protected from spambots. You need JavaScript enabled to view it.
Article:
Source: http://realtormag.realtor.org/daily-news/2014/01/07/13-places-for-deep-foreclosure-discounts
13 Places for Deep Foreclosure Discounts
Daily Real Estate News | Tuesday, January 07, 2014
The National Association of REALTORS® recently reported that foreclosures nationwide sold for an average discount of 17 percent below market value in November. But in some places, the discounts may be even deeper.
If buyers are looking to snag a big discount on a foreclosure, they may want to look in Ohio. A new study from RealtyTrac shows that Ohio has five cities in the top 10 places offering some of the largest discounts on foreclosed homes.
According to the RealtyTrac study, the following cities offer some of the biggest discounts on foreclosures:
- Fort Myers, Fla.: 65% average discount on foreclosures
- Columbus, Ohio: 63%
- Cleveland, Ohio: 63%
- Fresno, Calif.: 62%
- Pittsburgh, Pa.: 60%
- Atlanta, Ga.: 57%
- Canton, Ohio: 56%
- Cincinnati, Ohio: 55%
- Akron, Ohio: 55%
- Memphis, Tenn.: 54%
- Vero Beach, Fla.: 51%
- Dayton, Ohio: 51%
- Richmond, Va.: 49%
