Brexit! Tomorrow, June 23rd, Britain votes to stay in or leave the European Union. Clare Trapasso at writes, “Home buyers on American soil have enough to worry about without losing sleep over whether Britons, our neighbors across the pond, will vote to leave the European Union on Thursday.

But a Brexit could spell trouble for U.S. buyers as more wealthy foreigners, concerned about the uncertainty in the United Kingdom, drive up prices on American properties by racing to scoop them up, according to the International Business Times. The effect could even trickle down to Americans looking at starter homes, according to one expert.

“Typically, younger purchasers need a mortgage” to become homeowners, National Association of Realtors® Chief Economist Lawrence Yun told the Times. “If they have to compete with foreign buyers with all cash, which hinders first-time buyers from getting their home.”

Foreign buyers invested about $80 billion in U.S. real estate last year, according to NAR. About 2% to 3% of all U.S. real estate is controlled by foreign investors, Yun told the Times.

The most foreign buyers hailed from China, at 16%, with Canada close behind, at 14%. About 9% of buyers were from Mexico, followed by 8% from India and 4% from Britain.

Most of these folks are investing in luxury real estate, worth about $15 million and up,

If Britain does vote to leave, markets may react positively or negatively, but keep in mind that it will take nearly three years to work everything out and sign the papers. In the meantime foreigners prefer luxury properties in the big, major cities.

I suspect that interest rates, the value of the dollar versus other currencies, the world economy, the strength of the U.S. economy, and the upcoming national elections will have more effect on local real estate conditions than Brexit.

Coal to Cash Homebuyers, Inc. is here to help homeowners out of any kind of distressed situation. As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.

Give us a call today at 805-426-9988 to let us know what YOU need help with!

Building Wealth With Notes - On Demand Course
Is Notes Investing For You? Get the 411 With This FREE Video Series




Get The 411 On Note Investing

Learn why so many people are getting into Note Investing, what it's all about so that your questions are answered!