Sarasota & International Real Estate

February 29, 2008

This past Wednesday the Sarasota area looked even more attractive to European buyers whose burgeoning buying power rose to a record exchange of  $1.5057 to 1 Euro.  Similarly the British pound rose to nearly $2 this past Wednesday on speculation that the Fed will once again lower interest rates.  I am currently working with European buyers who have expressed their intention to take advantage of the current weak dollar.  These buyers are not buying on speculation but rather looking at Florida as a vacation residence and an alternative to rising cost of waterfront properties on the Mediterranean.  One can surmise that at some point in the future our real estate market will again rise in value and similarly the dollar will also.  At such a time current buyers will earn a double dividend in increased real estate value and upon selling and converting back to Euros.

Seeing this as an important market trend, Corneau & Associates International Realty has strategies in place to reach foreign buyers.


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