Where to buy in USA?

As an owner of property in Florida in my opinion you wont get a better time to buy in the USA. 1.Weak dollor 2.More direct flights from Ireland 3.From the experts point of view it is predicted interest rates are due do drop which should help the housing market 4.http://www.bizjournals.com/orlando/poll/comments.html?poll_id=3075 5.Lastly, there is no 5 to 10 year market in Florida.It is 3 to 5 year cycles which explains why houses go up in value 8 to 12 % on an average year.
 
Please,

"The US, the world’s biggest economy, faces the prospect of a sharp slowdown, driven by a slump in the housing market. House prices in the US are already down year-on-year, and with supply far outstripping demand, it seems very likely that things can only get worse."

"The hope is that the US has found its ‘Goldilocks’ spot again - that the economy will be neither too hot, nor too cold. And importantly, that the Federal Reserve will have to cut interest rates to prevent a house price crash "

http://money.uk.msn.com/Investing/I.../Moneyweek/article.aspx?cp-documentid=1048877
 
Too much uncertainty in the US economy right now. Traditional target for the "paddy pound" has been Florida; this is now riddled with oversupply and a serious lack of tenants for many recent projects. The currency issue, the fact that the economy is in bad shape, as well as high property taxes in most areas, makes the US a tough place to call right now. I would only look at good commercial with good covenants, minimum of seven or eight years to run on leases that would allow you to ride out the storm. I would steer well clear of residential in almost all states, unless you can find a good deal in a stable market like the Cape Cod peninsula, the Hamptons or the Maine seashore for instance, but good deals are scarce in these places.
 
brodiebabe said:
I am considering buying property in USA? Does anyone have any recommendations or advice?
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Yes - get independent, professional advice on the investment and taxation issues involved. Perhaps review your situation and ask yourself if (foreign) property investment really is the most suitable investment option for your specific circumstances.
 
I'd like to hear peoples views about this website and also about the link to American property.

[broken link removed]


The link above in particular is to a property in the USA. I've seen links boasting high yields for example just outside New York in Rochester but it should be taken with a pinch of salt right ?

There appear to be very cheap deals offered through the website but the definition of 'cheap' can be relative e.g in Bulgaria or you could be buying in a gang warfare zone and not realise it . Are the deals on the website any good ?
 
Re that link to USA property, Niagra Falls is a bit of a kip to say the least. Much better going to areas where you won't be left stuck with a property if you have to sell it. Best places as I said already are the quality locations in and around New York and New England, Maine etc. Cape Cod is always good, as is the Maine seashore. Good 2-bed apartments in middling areas around New York are renting for amounts well in excess of 1,000 a month right now, and much higher rents can be got in flashier areas. Go out to the Hamptons for good real estate with strong rents, but beware of very high property taxes in this area.

Stay out of Florida right now, too many properties chasing too few buyers and not enough renters. Sellers will tell you that so many thousands of people move to Florida each year, but they don't tell you that they are all retired and that a similar number pop their clogs every year too!

Given the current uncertainty in US economy though, I would personally stay out of residential and stick to commercial with long leases.
 
I'm not considering buying it by the way Auto320 Im just trying to educate myself here :)

auto320 said:
Re that link to USA property, Niagra Falls is a bit of a kip to say the least..
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But isnt that a reason why it might possibly be undervalued? the property in the link and others I've seen from elsewhere which they advertise seems ridiculously cheap from an Irish perspective.
I'm still trying to make my mind up about the website whether its a good one or not.
Why isnt for example buying 10 of those properties as good as buying one house in Cape Cod if you can get them rented?
 
No resale market in a dying town. Go and look at it, the "honeymoon capital of America", dying on its feet. Its a depressing kip even on a good day; I've seen more cheerful shanty towns in Africa.

The tourism business nowadays is drive through, nobody stays there any more. Honeymooners get on a plane to a resort.

Location, location location....

The day you buy is the day you sell....
 
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