As a result of the low American dollar we have seen an increasing number of foreigners buying real estate in California. We were recently contacted by several investors from Canada and China who have shown interest in one of our listings in the San Francisco Bay Area.

Chateau d’Ellen in Pleasanton is one of those unique properties that you hardly see listed and for foreign investors this home is a steal; a large custom built home on several acres of private and quiet space. This French chateau was built by the renowned architect Norm LaCroix about 10-15 years ago on the Pleasanton ridge on almost 4 acres with numerous heritage oak trees on the property and an amazing view of the Pleasanton Valley and Mount Diablo.

What I love about this home is that you are just minutes away from I-580 and I-680, Stoneridge Mall and award winning Pleasanton schools. Being at the house is like being at a sanctuary. The home is over 8000 square feet, six bedrooms, four full and four half baths. Some other features are a 1000 square foot Las Vegas casino, an indoor pool, an outdoor waterfall, a tennis court and a four car garage; there is ample parking space on the property in case you would like to entertain and expect lots of people.

The owners also own the property next door and they will sell this three bedroom and three bath home together with, or after the main home has been sold. This home sits on an almost three acre flat lot with the same incredible views. Both properties are surrounded by open space; there are trails which can be used for hiking or horse back riding.

The interest from China is for a family compound. The purchase of both properties would give the owner two housing structures with almost 5 acres of land connected to hundreds of acres of open space - all behind two sets of security gates.

The interest from Canada is for a unique luxury property in the San Francisco Bay Area that is convenient to the area and lends itself to entertaining. With a game room/casino of over 1000 square feet, the chateau is a definite contender.

The San Francisco Bay Area has many luxury estates and properties to offer. The Bay Area continues to be one of the top real estate markets for foreign investors and buyers. Population trends and forecasts continue to show the San Francisco Bay Area as the favorite market for real estate investors from Asia. 

The property is perfect for the executive that needs to be close to Silicon Valley or San Francisco, or for somebody who is looking for a family compound. The combined lots have a perfect patch of land that would accommodate a helipad.

Another perfect client for this particular luxury property would be a musician that wanted their own recording studio next to their home. 

Call Ginny, if you would like to schedule a private showing (925) 699-3328.

Because of the drop in the dollar overseas and falling home prices in US, foreign investment in American homes is rapidly growing. The US market is now becoming attractive for foreign investors to buy homes here as places to live and even as investments. Cities like New York, San Francisco, Chicago, and Phoenix are all seeing increased sales activity from foreigners. Consumers from countries like China and India see great value in American real estate; while price speculation might be the driving factor, living in the United States and enjoying the American culture and educational opportunities are becoming increasingly important.

In the last decade San Francisco has been a steady top 3 pick for foreign investors for their real estate investment dollars. The San Francisco area's high-tech location cluster, combined with the quality of life, is a major factor driving its investment appeal.

The entire Northern California Market has been booming in the past ten years, driven in large part by the high technology and Internet boom that is centered in the Silicon Valley and other parts of the Bay Area.

San Francisco is the leading center for multimedia technology companies in the United States; the steadily improving economic conditions in Japan and Southeast Asia will further fuel the California economy, with the San Francisco Bay Area continuing to serve as the gateway to Pacific trade.

In October, we mentioned that foreign investors were becoming more active in the purchase of U.S. real estate due to the strong euro and the weaking U.S. housing market.

A recent alert from RightMove in the United Kingdom gives us the perspectve from the Brit side.

Despite the credit crunch and worsening economic conditions in the UK, 1.8 million enquiries from Brits were registered wishing to purchase property abroad in January 2008, the highest number ever recorded.

France narrowly beat Spain to the top of the list as the UK’s favourite overseas destination. However, the big mover was the USA which, fueled by falling house prices and a weak dollar, recorded a 42% increase in enquiries compared to January 2007.

First time buyers are increasingly purchasing abroad in an effort to get on the property ladder, and investors will continue to snap up bargains wherever the UK property market is faltering, which would explain the increased interest in the USA.

By some forecasts, the euro is expected to reach a 1 for 2 exchange with the dollar later this year. That’s an increase from 1 for 1.5 which would be a huge advantage for foreign investors looking for U.S. properties.

Imagine buying the Chateau D'Ellen we have listed in Pleasanton ($6.995M) for a 50% discount!

With new home construction still suffering, the foreclosure rate still climbing and the dollar continuing to fall – the time is right for foreign investors to buy U.S. property – and they are.

San Francisco is seeing more activity than the East Bay, but we are hearing more and more reports of foreign investors in the East Bay.

Our Market Detail Reports are available for most San Francisco Bay Area communities. If you don’t see a community on the list, tell us in the comment box which community you are interested in.