Second homes continue to grow in popularity in the United States with some 3.34 million second homes bought in the U.S. in 2005, up 16% from the previous year. Unfortunately, given the uncertainties of the real estate market, buying a second home in the desirable vacation home areas in the U.S. has become impossible for many people. Increasingly, Americans are turning to more affordable regions overseas - some stay close by in Mexico or Canada while others are more adventurous, looking to parts of Central and South America, the Caribbean and Pacific Islands. This book will discuss the benefits and challenges of buying overseas property, including whether or not foreigners can legally own property, tax implications, exchange rates, currency restrictions, availability of medical services, cost of local travel, etc.
According to author Steve Bergsman, the next decade will produce multiple investment currents in real estate. This book will help the sharp investor find the right current and stay the course for a long, profitable ride. By separating the asset classes that will remain stable from those that will continue to lose value going forward, Bergsman offers an essential roadmap to the changing real estate market. As a result, savvy investors will be able to capitalize on opportunities created by the trillions of dollars in mortgage-backed investment vehicles that essentially became worthless for a moment in time in 2007.
