Something happened that I didn't expect in domestic properties. There is no such thing as a local market any more. Anyone, in the world can buy property in the USA. It is an international market. And there are holding companies that will buy over the local market, for rentals, so that that they can establish a local monopoly. So they can raise rents.
I consider myself lucky, I was able to by my property with out this out outside influence. Lucky now that that my land has quadrupled in evaluation. The hand built house means almost nothing. But this was before this international market was established. The internet changed this all up, to what it is now.
Your offer, means, very little, to a seller, if they see cash from some foreign buyer, that is just parking money. This is the true basis of the housing issues we face. politicians on both sides don't talk about it. But I've seen it, that every new inner city highrise, is mostly unoccupied and foreign owned as money parking strategies. They don't rent these out. They just pay the condo fees. I didn't think this would bleed out to rural properties, yet it has. I do expect another international crash sometime in the next five years. Its a cycle. And these properties will flood the market, back to something affordable to the locals. Which I took advantage of in '94. I had the cash. Some how we have been misdirected that there is a housing shortage.
I guess this turned political, I wish it wasn't the case. I've seen too many hard working, follow the rules people, out bid on their American dream of home ownership, by foreign flippers.
Being a seller, you can't fault them, if its a clear transaction for way more than your asking price based on local apprasials. What else do we have?
Post internet, I feel the pain, of any buyer that knows they can be out bid, by any one in the world. We should have better land buying rules.
