Back in the U.S.
Recently back in Los Angeles after a few days in London and what fabulous weather was had over there this past week!
The questions asked of me time and time again were about the slide in the property market and whether it was a good time to invest in Southern California or should we wait. My answer is that there is never a bad time to buy property only the reasons change and you have to be prepared to hold not flip.We have seen the cycle and with patience you will always come out on top.
In this market you cannot over-leverage ,you must be more choosy and change your buying criteria.
For those overseas Buyers and Investors it may be harder to arrange financing but with the strenght of the pound over the dollar the buying power is very good.Prices in Southern California have droppedsignificantly in very desirable areas and there are tremendous opportunities to buy a home .
For those Retirees looking to live in the United States there may be excellent news on the horizen.A new status called a Silver Card is being formulated and looks to good to actually happen.Unlike a Green Card those with a Silver Card will allow foreign nationals who are over 55 to own property in the U.S.,to live out their retirement in the country but without health and social services included.They must show proof of income and health insurance.
This may proove to be a shrewd move by the U.S. govermant if it comes to pass and provide inbound foreign investment.Green Cards can take up to 10 years to obtain so the Silver Card it is hoped would help to bring an influx of retirees to stimulate a sagging property market.The Silver Card has yet to pass legislation but it looks like it may happen.
Nice to be back and ready to help all those retirees and baby boomers from Europe and the U.K.
Peter