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发帖数: 10904 | 1 http://piggington.com/who_are_all_these_cash_buyers_in_carmel_v
Submitted by blueeyedlion on June 17, 2013 - 10:06pm.
I'm a REALTOR and I can attest to the Chinese buying all-cash! I've worked
with a client, fresh from getting his Master's in Mechanical Engineering
from Michigan and whose Dad bought him a home, and then a couple of other
investment properties.
Also have a former colleague (I was once in Computer Engineering) who is
Chinese and helped a friend from mainland China buy a million dollar home in
Carlsbad sight unseen. The money is definitely flowing in from China, and
is driving up prices.
Submitted by earlyretirement on June 17, 2013 - 10:46pm.
Thanks blueeyedlion. Is there any specific developments or areas you see
this happening more than another?
For example, your client that bought whose dad bought him a property... what
type of property was it? SFH? In which area/development? Thanks for sharing.
Submitted by blueeyedlion on June 17, 2013 - 11:04pm.
He was about to start working for Qualcomm (a lot of my clients are in the
tech industry since I am a former Computer Engineer) and so this particular
client targeted areas centered around Qualcomm (UTC, Mira Mesa).
They bought a single SFR for him to live in, and two condos as rentals. They
did use financing since he had established some credit here in the States.
So it was a combination of financing on the SFR, and all cash for the condos.
Submitted by earlyretirement on June 17, 2013 - 11:19pm.
CA renter wrote:
ER,
I've talked to a few people who were working with Chinese investors, but
this was ~2-4 years ago. They (Chinese investors) were pooling large funds (
billions) to buy up bulk foreclosures directly from banks, the FDIC (
supposedly), and other lending institutions. Also, they were buying
foreclosures on the courthouse steps. I've talked to people who've
represented them on the financial side, and also talked to some people who'
ve worked in flip/repair crews for these investors. They were buying up
mostly SFHs on the low to mid end, here and around the country, to either
rent or flip.
Yes, I heard that sort of thing a few years ago. Nothing too specific but
the same type of thing. I wonder how many of the recent purchases would fall
under that category.
Ah ok...Mira Mesa seems to be on a tear lately. Just many places, not much
inventory at all on the market. Even Mira Mesa seems to be pricing people
out of the market there. |
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