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Patricia Tan – Perspectives – International REAL Estate

Wednesday, October 21, 2015

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Do Tourists Buy Homes? By Patricia Tan I was approached recently by the Florida Association of Realtors® and asked to present at their annual convention in Orlando. They wanted my presentation to discuss ways in which my fellow Realtor® members could convert tourists into home buyers. The invitation spurred me to do some research and think about this conundrum. Do tourists actually buy homes? The answer is a resounding yes! People who discover our beautiful area as a vacation destination often become homeowners and members of our community. The thought processes they go through to achieve this are many and […]

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Patricia Tan – Perspectives – International REAL Estate

Tuesday, July 21, 2015

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Why Should I Have a Formal Home Inspection? By Patricia Tan Truth is confirmed by inspection and delay Falsehood by haste and uncertaintyTacitus, A.D. 56 to 117 The Roman historian Tacitus was certainly not commenting about a modern day home inspection, but nevertheless home buyers should heed his advice. Nowhere is the Latin phrase Caveat Emptor, (Buyer Beware) more feared than in the real estate market. It really is the responsibility of the home buyer to ascertain exactly what he is buying in terms of the condition of the property. In most cases, detailed inspections will be performed after a […]

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Patricia Tan – Perspectives – International REAL Estate

Thursday, April 9, 2015

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Closing Costs and Their Impact on Overseas Buyers By Patricia Tan I am writing this article from a cold, dreary and very gray England, where I just showcased Gulf Coast properties at a property exhibition attended by my fellow Brits who are interested in purchasing their very own place in the sun. A quick look out of the window and glance at the thermometer tells me why! One of the questions I encountered a lot during the property show was “Exactly how much will this home cost me?” A reference to the dreaded closing costs local buyers are so used […]

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Patricia Tan – Perspectives – International REAL Estate

Wednesday, February 18, 2015

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Buying in Florida? Six Steps to Success By Patricia Tan Buying a home in Florida is a very big step, whether you are from the northern states or outside the country. Many of our overseas customers ask us “What are the most important things for us to consider when looking to buy a home in Florida?”. I usually share a number of key points with them – things they should do to ensure their Florida property investment is a success, and I am happy to share those here. Understand Your Motivation Why do you want to buy a home in […]

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Patricia Tan – Perspectives – International REAL Estate

Saturday, January 10, 2015

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Something Old, Something New … By Patricia Tan . . . Something Borrowed, Something Blue . . . We are all familiar with this old English rhyme which gives advice to brides, but what does this have to do with real estate? In today’s real estate market, many areas have few homes being offered for sale. As the availability of resale properties tightens we are seeing a surge in interest in newly constructed homes, and I thought it might be useful to examine the pros and cons of older homes versus their new-build cousins. When purchasing a home, a buyer […]

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Patricia Tan – Perspectives – International REAL Estate

Friday, November 7, 2014

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More International Buyers Coming To U.S.A. By Patricia Tan Recent Reports Show Significant Growth I spend most of my time in Sarasota, where our real estate team lists and sells homes in Sarasota and Manatee Counties. A key factor that has contributed to our success over the years has been our focus on international buyers. Today, more than 70% of our business comes from transactions that involve someone from another country. I also spend some of my time traveling around Florida, teaching other Realtors how to build their global business, and this means I have to understand the impact that […]

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Patricia Tan – Perspectives – International REAL Estate

Thursday, July 10, 2014

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International Real Estate – A Risky Business? By Patricia Tan I recently returned from a series of meetings in Washington D.C. While I was there, I was asked to present to a group of experienced international agents about ways in which they could manage risk in their business, and provide a better experience for their customers. Let’s consider those real estate transactions where an American buys or sells property in another country. Such transactions are most certainly prone to greater risks in a number of areas, and buyers, sellers and real estate agents should exercise caution.

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Patricia Tan – Perspectives – International REAL Estate

Tuesday, May 13, 2014

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The Residential Real Estate Business Is … By Patricia Tan Some would say it is just that – a business, a commercial enterprise. Others might say it is a transaction business – after all, as Realtors® we get paid only upon successful closing of a transaction, and this is how we measure our personal and business productivity. But what is it really? The real estate business serves one of a human being’s most basic needs – the need for shelter. As such, it is important that we realize our business is essentially a people business. As Realtors®, our business success […]

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Patricia Tan – Perspectives – International REAL Estate

Tuesday, March 25, 2014

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What’s Your Dollar Worth? By Patricia Tan Currency Considerations for International Investors In addition to looking at the real estate investment itself, an overseas investor must also consider the relative strength of the U.S. dollar against their home currency. Consideration has to be given to this at the time of purchase, and also at the projected time of sale. This adds a whole layer of complexity to the purchase and sale of U.S.A. real estate. Currency exchange rates, the relative value of one currency versus another, are constantly changing. A major shift in an exchange rate during a real estate […]

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Patricia Tan – Perspectives – International REAL Estate

Wednesday, February 19, 2014

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Looking to Buy a Home? Strategies for Success By Patricia Tan When buyers embark upon the search for a new home, they usually have an idea of the kind of property they want to purchase, the size, location and some key features that are important to them. Basic decisions such as a condo or single family home are usually made early, and a budget for the purchase is established by deciding how much cash is available and going through a mortgage qualification process if financing is needed. Then what?

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Patricia Tan – Perspectives – International REAL Estate

Monday, January 6, 2014

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International Landlords – A Rising Trend By Patricia Tan Florida’s still low real estate prices, together with a healthy demand for rental properties have led many investors from overseas to purchase rental properties here. Sometimes the homes are purely for investment, other times they are vacation homes that are rented while the owners are not using them personally. It can be difficult to find a property that meets both the need of a vacation home and a rental investment. The home that meets the owner’s need for a vacation residence may not produce the best rental returns, but a lower […]

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Patricia Tan – Perspectives – International Real Estate

Tuesday, October 15, 2013

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How Foreign Buyers Impact Our Real Estate Market By Patricia Tan Real estate prices are always a popular topic of conversation, and recent press coverage has given Florida home owners a lot to talk about. Reports from around the state tell of rising prices, falling inventory levels and increasing numbers of closed sales.  Comments like “Reminiscent of our market boom in the early 2000’s” and “Houses selling as fast as they did in 2005” are commonplace. I thought it would be interesting to look back and put today’s property values in perspective.

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Patricia Tan Perspectives International Real Estate

Wednesday, July 10, 2013

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Bowler Hats, Briefcases and The Bank of England British Icons in the City of London By Patricia Tan During my recent trip to England, I had several meetings in the City of London, Britain’s financial district, where I worked during the 1980s and 90s. I was thrilled to have the opportunity to be in “The City” doing business again – completely different from simply being a tourist and visiting the many historic sites there. So much of being British stems from our ancient heritage and traditions, and nowhere are these more evident than in the City. The “square mile” as […]

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Patricia Tan Perspectives International Real Estate

Friday, April 19, 2013

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Foreigners Investing in Florida Real Estate A Taxing Issue? By Patricia Tan Winter was a very busy buying season for Florida real estate – the best we have seen in many years. A large part of the sales activity was down to foreign investors – those whose real home is outside the United States, looking to take advantage of our State’s low property prices and buoyant rental market. The end of winter also means tax deadlines are looming and it occurred to me that in working with foreign investors, I am often asked questions about how they will be taxed […]

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Patricia Tan Perspectives International Real Estate – Communicating Across Cultures

Monday, February 18, 2013

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International Real Estate – Communicating Across Cultures By Patricia Tan As I write this article, I am preparing for a marketing trip that will include meetings, presentations and showcasing Florida properties at real estate shows in Singapore, Malaysia and England. Developing marketing materials for these very different markets is somewhat challenging, as you might imagine.

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