Foreign Buyers Scoop Up Real Estate in the U.S. (3)

But there are still obstacles for international buyers. Aaron Gordon,
a Las Vegas mortgage banker, says that foreigners who need financing
often turn to U.S. banks, because interest rates and down payment
terms are usually much lower than they are in their home countries.
But the stricter U.S. lending standards that went into place earlier
this year after a wave of subprime loan defaults are being applied to
foreigners as well as American citizens. "It's becoming much tougher
for them to qualify," he says.

Rising anti-immigrant sentiments, even against legal and part-time
residents, are a concern, too. The NAR study showed that international
buyers spent an average of 4.2 months a year in their American homes.
But real estate agents worry that tighter visa restrictions, spurred
by terrorist fears, may curb international interest in the future,
particularly for foreign buyers who eventually hope to retire in their
U.S. vacation homes without giving up their native citizenship.