An interesting article in the Winter 2023 issue of “The Appraisal Journal” written by Drs. Allen, Goodwin and O’Sullivan concluded that foreign buyers pay more for real estate. The authors studied the condo market in Miami. Their conclusion validated the generally accepted belief within the real estate industry that local buyers have an advantage from first hand knowledge of real estate people in the community, the neighborhood dynamics and pricing trends. Most people have a handle on what a house is worth. They know what a house for sale is… read more
July 20, 2023