You have likely heard: The Stock market of the world’s second-largest economy, China, fell dramatically last week by 11.5%, causing panic with global financial markets and losing nearly $10 trillion since their peak in June. Investors’ concerns over China’s economic slowdown have showed no signs of letting up. This has caused a ripple effect across world markets.
However it’s not only the stock market that has fallen in China. The government has also devalued the currency. Additionally the real estate bubble has burst and prices have had a sharp decline.
But what does this mean for the real estate market in the United States? The Chinese stock market crash and the recent fall in real estate prices have given rise to an even stronger desire to seek out investments in safer economies. They consider the hard asset of real estate as the safest. Real estate in the U.S has been looked at as a stable asset, and demand for it has been felt locally: prices in with some of our local markets have skyrocketed in the past couple of years.
However the Chinese buyers now are facing two big changes: the real estate that they sell at home is bringing them less profit and the money that they have has been devalued! The logic here is simple: China’s millionaires still seek safe investments in US Real Estate, yet they are adjusting their price point and seeking out less expensive areas and other locations besides the two coasts.
“There’s still a strong desire to buy in America, but maybe they’re not coming in with quite as strong offers,” Ken DeLeon told KCBS. Time will tell.
Nancy has been licensed to sell real estate since 1991. This includes sales experience in residential, land and investment properties. Due to her vast experience and expertise in the handling of complicated real estate transaction, she as the chosen as the Official Real Estate Sponsor of the Pasadena Bar Association for 5 years.
Nancy approaches each home sale as a new work that will be given a glorious Premiere! The staging, set design, and presentation all result in her listings being the “buzz” all over town. Nancy harnesses the power of the Internet to give her listings a competitive edge. She sees the Web as the most valuable way to respond to the constantly changing real estate climate. Nancy has the experience, knowledge and flexibility to harness the power of the Web in real estate transactions to get her sellers’ properties the best exposure, worldwide.
Like most people in this field, Nancy had another career before entering real estate. After graduating from Northwestern University School of Music, she attended the Juilliard School. Nancy went to Europe for the summer to continue her vocal training and stayed for 12 years! She sang professionally as a lyric soprano soloist in Austria, Switzerland, and Germany. Nancy is fluent in German and has a very good ear for languages! Her years of living abroad have given her a deep understanding of Buyers and Sellers from varying cultures and traditions. This experience is a valuable tool in understanding client needs and translates into a superb skill in negotiating on behalf of her clients. The experience of living in Europe as well as recent trips to visit family in Asia, she has a deep understanding of varying architectural and decorating styles.