Clearwater Beach Vacation Homes funded by weak US Dollar

Clearwater Beach, Florida – Cyndee and I have seen a dramatic increase in the number of Canadians and Europeans calling and inquiring about buying real estate in Clearwater, Clearwater Beach and Sand Key Florida. During this past week we had over 6 beach condo inquiries alone. Some economists are predicting a new real estate investing trend is emerging in US real estate based on the low value of the dollar.

In addition local Tampa Mortgage expert, Leah Ross, with Amerifirst Mortgage, reports in her recent article, Foreign Investors in Tampa Bay – The Loan Process – Step 1, receiving many more calls and emails this year when compared to last year from Canadians and Foreign Investors looking to purchase great properties on Tampa beaches.

Foreigners finding Dollar helps Second Home on Clearwater Beach become Reality

“The dollar is on sale,” said Susan Wachter, real estate professor at
the Wharton School at the University of Pennsylvania. This perspective
is fueled by the fact that the S&P/Case-Shiller Index reports monthly
declines in sale prices throughout 2007, and everyone is aware that
the number of homes sold in 2007 has declined monthly as well.

The result is that the US dollar has dropped to record lows when compared
to the euro and that means savvy Europeans are bringing more spendable
cash into the US. For example, the last time I checked $50,000 was
equivalent to 34,100 euros and that figure was 37,920 euros in January
of 2007.”

“In a market with great turmoil, (the weak dollar) is one factor supporting some key markets,” Wachter said of the weakening dollar. Source: Tampa Bay Online

Here in the Clearwater Florida area we have seen Tampa mortgage lenders tightening their lending rules making it harder for home and condo buyers to get a home loan to purchase real estate. This is not effecting everyone, but it does reduce the overall number of home buyers in the Tampa Bay real estate market.

Also Read: Buying Clearwater Florida Real Estate Bargains

Now is Time to Buy Bargain Clearwater Beach Real Estate

In summary, it is a great time to buy that vacation Clearwater beach house or that Sand Key condo on the water you’ve been dreaming of. Right now you’ll find lower real estate prices (as shown in our Real Estate Monthly Market Reports) and plenty of homes and condos for sale, so let us help you find your new vacation home in one of the most beautiful places on this earth – Clearwater Beach Florida.

Clearwater Florida Real Estate

Are you looking to buy a Clearwater Beach Waterfront Home, Island Estates waterfront condo or Sand Key Condo on the beach? Here’s what some of our past clients have to say about how we helped them….

** CLICK ON PHOTOS BELOW TO SEE CLIENT VIDEO TESTIMONIALS **

Buyers tell us that selecting the best Clearwater Beach Real Estate Agent, especially online or from a distance, can be a challenge. Some of our past clients agreed to share their experiences and tell you why they think you should work with us.

Click on the photos below and meet some of our clients and now friends…we’d love to be YOUR choice too!

Want more info…click to get it now!

The above information and images are Copyright © 2007 Jack and Cyndee Haydon, Clearwater Beach Real Estate Consultants and may not be copied, reproduced, distributed, transmitted, displayed or published. All rights reserved. Plagiarism will be detected and is punishable by law.

Click to Subscribe to Sandbars to Sunsets and get the Daily Digest by Email

Tags: clearwater+beach+real+estate, canadian+florida+investors, clearwater+mortgage+report, clearwater+florida+real+estate, sand+key+condos

Facebooktwittergoogle_plusredditpinterestlinkedinmail
View All Clearwater Beach Florida Posts

16 Comments

  1. Cyndee- it is working for me this morning.
    In another life I used to ride Harleys, and through that met some Canadians. Canadians love Florida. When I asked one of my Canadians friends why did they love Florida so much- he said the obvious to me: If you lived in Canada in December or January- why wouldn’t you want to go to Florida during those months!

    I love that first picture you have up. Is that a condo? I’d love to learn more about it.

  2. I’m glad your market is attracting foreign buyers. Because there sure are not enough buyers in our area. In Pensacola the condo sales are stagnant. It sounds like condo sales in Clearwater are a bit better. Good luck with your prospects.

  3. Hmmm… This makes all the sense in the world! It sounds like the time is right for anyone with access to non-US money to buy a home in Clearwater, Florida. Home prices are low and Canadians and Europeans can get more dollars with their money. It doesn’t get any better than this for foreign investors!

  4. Sandi – as the weather gets colder other places – people really appreciate our year round great weather.

    Karl – we’ve had more supply than demand all year due to lots of new developments the past 2 years, however Clearwater beach condo prices have dropped to an attractive place and many Canadians are looking to buy a beach condo now for the long haul.

    Bob – thankfully for me that’s true because we still have lots of locals moving to North Carolina – so it’s great to have a real estate expert like you to refer them to.

    Mary – that photo is of The Grand Bellagio – a luxury waterfront condo complex that offers everything you could ever want. We have a new unit for sale and I will be writing about it in the next day or two so stay tuned to learn about waterfront living at it’s best in Clearwater.

  5. It sounds like the foreign investors are just finding out what you already knew: Clearwater Beach Florida is a great place to buy a condo for a 2nd home or rental. The only difference is our Canadian or European friends get to buy it at a discount- We are seeing the same thing in Charlotte too. The dollar is on sale, its 10% cheaper than in January.Terry McDonald-Charlotte NC

  6. That’s the way to make lemonade when you have lemons…

    What a great opportunity for people outside the US. And your site is a great way for you to get the word out to them. Now, lets see, how can I convince Canadians into moving North. I’m not sure I’m that good of a salesman.

    I subscribed to your blog because it’s a great example of how to use this medium.

  7. Jack and Cyndee,

    This is a recent topic in the news. Will our real estate market drive foreigners to invest here and it appears they are in Clearwater.

    The secong home market seems to be the hot commodity for foreigh investors and you have the perfect climate and beauty there.

  8. Boy Howdy,

    I sure do wish I could convince the investors from our neighbors in Canada to be as interested in North Georgia Mountain Real Estate as they seem to be in beach front property in Florida.

  9. Thanks for stopping by – this is a busy time of year for us and for people visiting Clearwater Beach – we have several people interested in Clearwater beach condos this coming week. The best part is when people are trying to decide between here and other beach cities like those in North Carolina or South Carolina is that our beaches are usable all year long – many are sad at the short season the Carolinas have – my parents own a home on the beach and it caught them off guard the first year.

  10. Hi Cyndee, thanks for all your help and inspiration for my own blog and for providing so much good info for Canadian investors and info on mortgage loans as well. I will link this article to my Oakville Ontario Real Estate blog so readers can get the scoop from a Clearwater Beach Condo expert. Hilary Shantz, Oakville, Ontario

  11. Jack and Cyndee – I have seen a huge surge in inquiries from areas as diverse as France, England, Turkey and Iraq. It will be interesting to see how this develops over the next year. – Ashley

  12. Cyndee and Jack,

    I think this is for sure a trend that we will see here in the coming few years, especially in Florida and California. Here in Santa Barbara Ca we are starting to see lots of Europeans not just looking but actually buying. Many of them are coming in with all cash. As noted in your post, the dollar is on sale so to speak right now. I guess at least some bright spot is that our real estate is looking cheaper to people outside our borders.

    Thanks for the post. Take care

  13. Thanks for the interesting article. We’re from Calgary, Canada and just got back from a buying trip in your area last week. We had SO much success with our house hunting!

    With all the Fannie Mae and Freddie Mac activity, it was a challenging time to seek mortgage pre-approval but we perservered and were successful. We’re now waiting to hear back on some forclosure/short sale offers we submitted and realize it could be awhile.(sob)

    In the meantime we’re dreaming of your wonderful beaches and warm hospitality. I laughed at the comments about Canadians loving the area and the benefits of the weather.

    When it comes to Clearwater, what’s not to love?

    Alyssa

  14. It is amazing how much Florida property values collapsed. I’m guessing they will start back up this year in 2009 and that most of the ultra-bargain shopping is over.

Leave a Reply

Your email address will not be published.