The U.S. economy has not performed as well as expected this year despite all the stimulus packages launched by the Federal Reserve. Banks are still making it awkward for refinance packages and business development loans. Property is being sold at knock down prices but the selling process is restrictive and selective and the appropriate information needed by investors is not investor friendly.
However Real Estate authorities need to be more active with information on properties in foreclosure or bank owned so investors are getting the correct information with the properties for sale rather than having to search here and there to investigate title and ownership and other such built in issues such as liens etc.
The real estate market is a minefield at present and until Brokers and Realtor associations improve the availability of information on property, investors are going to be understandably cautious about property investment and indeed dealing with Brokers and Realtors. Especially International investors who have the money but hear frightening stories about property purchase in the U.S.
So Realtor associations take note if you want the overseas investor to come back into the property market, get the information available for them.
