Foreign buyers are nuts!
I have a family member who unloaded a piece of crap bungalow for $1.3M* in RH to a FB last summer... Another similar bung on the same block just sold for $1.86M to a FB last week:
When they can have this for $2M: A wonderful 5900+ sq. ft. country home, situated on 18.5 ac. of rolling farm land in the heart of Niagara wine country:
https://www.realtor.ca/Commercial/Agric ... rio-L0R1S0
I talked to a realtor friend and he let me in on a little secret about Asian buyers in particular... Sure, Bayview SS is top rated and that plays a big part in their decision to pay almost $2M for a crappy bung, but there is apparently another reason why the luxury property in Lincoln isn't scooped up by the FB's...
Anyone care to guess why? Thoughts?
*edit to fix typo: I originally said family member sold bungalow last summer for $1.5M, meant to type $1.3M... (was thinking about a different property that he sold)*